Sunday, 12 April 2026
The five largest US banks are expected to report a combined trading revenue of $40 billion, the highest since at least 2014, as increased market volatility stemming from the ongoing conflict in Iran drives trading activity. This anticipated revenue surge reflects the significant impact of geopolitical tensions on financial markets.
High gas prices in the United States have led to a 12% increase in used electric vehicle sales, reversing a previous decline following the expiration of a $7,500 tax credit for EVs. The surge in demand is attributed to rising fuel costs driven by the ongoing conflict in Iran, with Octopus Electric Vehicles reporting a 36% increase in leasing inquiries and Autotrader noting a 15% rise in used EV inquiries since the war began in late February.
Italy has imposed restrictions on China's Sinochem to limit its influence over Pirelli, the tire manufacturer, amid concerns over U.S. investment regulations. The curbs will remain as long as Sinochem holds more than 9.99% of Pirelli's shares, which currently stand at 34%. Under the new rules, Sinochem can only nominate three board members, two of whom must be independent, while the Italian firm Camfin, which owns 26%, will select the remaining twelve members.
WeRide and Grab launched a self-driving shuttle service in Singapore on April 1, 2026, marking a significant step in the deployment of autonomous vehicles (AVs) in the region. The service, which initially operates for free until mid-April, will charge a flat rate of S$4 (US$3.10) per passenger thereafter, with Grab reporting over 1,000 sign-ups for its fleet of 11 AVs. Singapore aims to have 100 to 150 AVs on the road by the end of this year, as Chinese robotaxi companies expand their operations in Southeast Asia.
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