Business - Friday, March 20, 2026

Elon Musk was sued in late 2022 after completing his acquisition of Twitter, which he later renamed X.

The US Department of Treasury issued a general license allowing the sale of Iranian oil and petrochemical products loaded onto vessels on or before 12:01 am New York time Friday, marking the Trump administration’s latest effort to counter rising oil prices due to the Iran war.

A federal judge tossed parts of the Pentagon’s restrictions on news outlets, saying they violated the First Amendment, in a lawsuit brought by The New York Times.

This week, the Fed holds rate steady, anticipating greater uncertainty and higher prices amid the war in Iran. And AI is advancing fast, but real-world limits mean it may transform industries more gradually and less dramatically than many expect today. Plus, are US tariffs on Canada causing long-term economic harm, or are they resetting the relationship between two closely linked economies? Later, efforts to limit teen social media use are gaining momentum worldwide, but uneven enforcement is raising questions about their real impact. (Source: Bloomberg)

Super Micro said Yih-Shyan "Wally" Liaw, a co-founder, has resigned from the server maker's board after he was indicted in the U.S.

Markets seem particularly attuned to increasing oil prices, with S&P 500 and Nasdaq down 1.5% and 2% respectively US stock markets dropped again on Friday, capping off a fourth week of market turbulence as investors worried about the US-Israel war on Iran and its widespread impact on global oil prices. The Dow lost over 400 points on Friday, with the S&P 500 slipping 1.5% and the tech-heavy Nasdaq down 2%. Continue reading...

Blackstone Inc.’s flagship private credit fund posted its first monthly loss in more than three years, one of the clearest signs yet of weakening performance in the $1.8 trillion market.

From restaurant closures in the Philippines and petrol rationing in Sri Lanka, to Asian food production crises due to fertiliser shortages, the effects of the US-Israeli war on Iran reverberate around the world From the Philippines cutting down to a four-day week to save electricity, to restaurants in India taking gas-intensive dishes off the menu, and rents being frozen in Spain, the economic fallout of the US-Israeli war on Iran has reverberated around the world. Facing an existential threat, Tehran has retaliated by closing the vital Hormuz shipping lane and bombing its oil and gas-rich neighbours, compounding a deepening crisis abroad for businesses and families. Continue reading...

President Donald Trump also said the Strait of Hormuz, "will have to be guarded and policed, as necessary, by other Nations who use it."

Our chief economics correspondent, Ben Casselman, breaks down how gasoline prices have responded to the oil crisis in the Persian Gulf, and what is in store for inflation if the price of oil remains above $100 per barrel.