US inflation rate rises to 3.8% in April 2026
The annual inflation rate in the United States accelerated to 3.8% in April 2026, the highest level since May 2023, driven primarily by a 17.9% surge in energy costs, particularly gasoline, which rose 28.4%. The consumer price index increased by 0.6% month-on-month, matching forecasts, while core inflation, excluding food and energy, rose to 2.8%, up from 2.6% in March. These figures reflect ongoing inflationary pressures, exacerbated by the oil shock linked to the war with Iran.
Market Financial Solutions Owner Investigated for $551 Million Fraud
Paresh Raja, owner of Market Financial Solutions, is under investigation for allegedly transferring over $551 million into personal accounts, contributing to a $1.7 billion shortfall in private credit. Bankruptcy administrators uncovered six Ferraris among other luxurious assets during the inquiry, which highlights the risks associated with private credit investments and may prompt increased regulatory scrutiny.
Samsung Electronics faces potential 18-day strike over wages
Samsung Electronics' management and its largest labor union failed to reach a wage agreement, leading to a potential 18-day strike involving over 40,000 employees starting May 21. The union demands a guaranteed allocation of 15% of operating profit for performance bonuses, while management has offered 10% without fixed ratios. Following the breakdown of negotiations, Samsung's market value dropped by as much as 99.07 trillion won ($66.18 billion), with potential losses from the strike estimated at 30 trillion won ($20 billion).
EIA forecasts sharp decline in global oil inventories
The U.S. Energy Information Administration (EIA) has revised its forecasts, predicting a significant decline in global oil inventories due to the ongoing conflict in Iran, estimating an average decrease of 2.6 million barrels per day in 2026, up from a previous estimate of 300,000 barrels per day. The EIA noted that oil production in the Middle East was severely impacted, with a combined 10.5 million barrels per day shut in during April, expected to peak at 10.8 million barrels per day this month as storage capacities are reached. Brent crude prices are projected to average $106 per barrel in May and June, before dropping to $89 per barrel in Q4 2026 as production begins to recover.
