JPMorgan Chase's Q1 net income rose 9% to $14.6 billion, beating expectations, but the CEO cautioned about global economic uncertainties stemming from trade tensions. Strong market performance drove the results, with earnings per share exceeding forecasts. Shares saw a premarket rise following the announcement.

Former Abercrombie & Fitch CEO Michael Jeffries deemed unfit for sex trafficking trial due to dementia. Both prosecutors and defense agree on his condition. Hospitalization is sought to explore possible treatment. Jeffries, along with two others, is accused of luring men with promises of modeling jobs.

Prada Group announces the acquisition of Versace from Capri Holdings for $1.4 billion. The deal aims to boost Versace's growth while maintaining its unique identity. Donatella Versace will remain as Chief Brand Ambassador. The Italian government supports the acquisition, heralding a return of 'Made in Italy' to Italian ownership.

Tesla officially launched in Saudi Arabia with its first showroom in Riyadh, marking a new step in global expansion. The launch faces potential hurdles due to the region's extreme heat. Lucid Motors is also expanding its presence, aligning with Saudi Vision 2030's electric vehicle goals.

New tariffs could raise prices on clothes, phones, furniture, potentially ending the era of cheap goods for Americans. The goal is to create U.S. jobs, but economists warn of risks, citing potential inflation and supply chain issues, while some consumers express willingness to pay more for American-made products.

Argentina secures a $5 billion extension to its currency swap deal with China, providing crucial economic relief amidst dwindling reserves. The agreement underscores the strategic alliance between the two nations, even as it draws scrutiny from the United States due to Argentina's close ties with the U.S. administration.

OpenAI has countersued Elon Musk for unfair competition and interfering with business relationships. This move escalates the legal battle between the ChatGPT maker and the billionaire. Musk alleges breach of contract, but the judge rejected his request to block OpenAI's for-profit status. The trial is now set for March 2026.

Despite trade war pressures, Apple faces significant disincentives to manufacture iPhones in the U.S., including established supply chains in China and potentially tripled iPhone prices. Experts believe shifting production is unlikely before 2028, questioning the feasibility and economic impact of domestic manufacturing. Tariffs continue to impact company profit margins.

The EU will suspend retaliatory tariffs on U.S. goods for 90 days, mirroring Trump's pause on new tariffs. This move seeks to foster negotiation amid trade tensions. Global markets react with optimism as China seeks broader international support against U.S. trade policies. President Trump's actions have sparked both market rallies and bewilderment.

President Trump is navigating the fallout from recent tariff changes, strategizing with 75 nations amid trade tensions with China. Aides note Trump wants other nations to eliminate regulations and he wants to eliminate the $1.2 trillion trade deficit. Voters may face higher prices resulting from trade wars.