Tuesday, April 28, 2026
Global markets and policymakers are focused on a renewed energy and security shock centered on the Gulf. Oil prices climbed above $100 a barrel after the United Arab Emirates said it will leave OPEC on May 1 and as Washington gave a cool initial response to Iran’s latest proposal to end the war and reopen the Strait of Hormuz without resolving the nuclear dispute. The UAE’s move is being treated by analysts and traders as a major blow to OPEC’s cohesion, while governments and businesses are increasingly warning that the conflict’s ripple effects now extend beyond fuel to shipping, fertilizer and food prices. [Reuters] [CNBC] [NBC News]
In the United States, the aftermath of the shooting at the White House Correspondents’ Association dinner remained a dominant political story. Federal prosecutors charged suspect Cole Tomas Allen with attempting to assassinate President Donald Trump after authorities said he opened fire outside the Washington Hilton during the April 25 event, triggering a major Secret Service evacuation of senior officials. Separately, King Charles III met Trump at the White House ahead of a rare address to a joint meeting of Congress aimed at underscoring UK-U.S. ties. In business and technology, a report that OpenAI missed internal revenue and user-growth targets hit AI-linked stocks, while opening arguments began in Elon Musk’s lawsuit against OpenAI and CEO Sam Altman over the company’s shift from nonprofit roots to a for-profit structure. [Department of Justice] [AP News] [Wall Street Journal] [CNBC]
The United Arab Emirates said April 28 it will leave OPEC from May 1, saying the decision was in its national interest after a review of production policy and capacity. The announcement came as crude prices rose sharply amid supply disruption linked to the Iran war, and analysts described the exit as one of the most serious blows yet to the producer group led by Saudi Arabia.
The Trump administration showed little immediate support for an Iranian proposal that would halt attacks affecting the Strait of Hormuz and reopen the waterway without first settling the dispute over Tehran’s nuclear program. The strait is a critical shipping corridor for global oil and gas supplies, and uncertainty over its status has pushed energy prices higher and added to inflation concerns worldwide.
Federal prosecutors charged 31-year-old Cole Tomas Allen of California with attempted assassination of the president and firearms offenses after the shooting outside the White House Correspondents’ Association dinner in Washington. Investigators said Allen sought to kill as many high-level officials as possible during the April 25 event, which prompted a rapid evacuation of President Donald Trump, Vice President JD Vance, cabinet members and congressional leaders.
Technology shares fell on April 28 after reports that OpenAI had missed internal revenue and user-growth targets, raising fresh questions about the pace of returns on heavy AI infrastructure spending. The market move coincided with the start of a closely watched trial in which Elon Musk is challenging OpenAI, Sam Altman and Greg Brockman over the company’s governance and commercial transition.
Federal law enforcement agencies carried out raids at about 20 locations in the Minneapolis area on April 28 as part of an investigation into suspected welfare fraud involving day cares and social-services programs. Authorities said the operation is tied to a broader scandal that prosecutors have described as involving hundreds of millions of dollars in public funds.
The U.S. Department of Justice said former senior NIAID adviser David Morens was indicted for allegedly concealing federal records during the COVID-19 pandemic, including emails related to grants and official communications. The case follows congressional scrutiny of pandemic decision-making and records retention at federal health agencies.
King Charles III and Queen Camilla were welcomed to the White House by President Donald Trump and first lady Melania Trump on April 28 before the king’s planned address to a joint meeting of Congress. The visit is designed to highlight the U.S.-UK relationship at a time of heightened global security tensions.
A third Ukrainian strike hit an oil refinery in Tuapse, Russia, prompting evacuations near the facility, according to Russian and Ukrainian reports on April 28. The Kremlin accused Kyiv of destabilizing global energy markets, while Ukraine continues to target Russian fuel infrastructure tied to the war.
Emergency crews worked on April 28 to rescue people trapped in a train after two trains collided on the outskirts of Jakarta, killing at least 15 people. Indonesian authorities said the crash occurred Monday and recovery operations continued into Tuesday.
Belarus released imprisoned journalist and Polish minority activist Andrzej Poczobut, a move seen as an attempt by President Alexander Lukashenko to reopen lines with Western governments. The release comes as Minsk seeks relief from isolation and sanctions tied to its domestic crackdown and support for Russia.
Qatar’s foreign ministry spokesman Majed al-Ansari said April 28 that using the Strait of Hormuz as political leverage is unacceptable, adding to mounting regional concern over threats to one of the world’s most important maritime energy routes.
The S&P 500 slipped from record levels and the Nasdaq fell on April 28 after a report that OpenAI had missed internal sales targets triggered a selloff in AI-linked chip and software stocks. Oracle and semiconductor shares were among those pressured as investors reassessed whether AI spending is outrunning revenue growth.
General Motors said it expects a $500 million tariff refund following a Supreme Court ruling and raised its 2026 guidance after reporting earnings that topped Wall Street expectations. The automaker said it is also navigating risks from the Iran war, higher gasoline prices and electric-vehicle write-downs.
JPMorgan Chase CEO Jamie Dimon warned on April 28 that a bond-market crisis remains possible as rising debt burdens, inflation pressures and geopolitical risks build globally. His comments came as Treasury yields rose and investors priced in fewer Federal Reserve rate cuts amid higher oil prices.
Coca-Cola reported stronger-than-expected quarterly results and raised its earnings outlook, saying global beverage demand remained resilient despite broader economic uncertainty. The company’s update contrasted with a more cautious tone from several consumer-facing firms dealing with geopolitical and fuel-cost pressures.
Opening arguments began April 28 in Elon Musk’s lawsuit against OpenAI, CEO Sam Altman and president Greg Brockman. Musk alleges the company abandoned its original nonprofit mission; OpenAI argues its structure evolved to fund the enormous cost of advanced AI development.
China forced Meta to unwind its acquisition of AI startup Manus, according to reports published April 28, highlighting Beijing’s willingness to use regulatory power to keep strategic AI capabilities from leaving the country. The case adds to broader friction in U.S.-China technology and investment ties.
Google secured Pentagon clearance to use its AI tools in classified settings, with contractual language stating the technology is not intended for domestic mass surveillance or fully autonomous weapons. The move marks another step in the U.S. military’s adoption of commercial AI systems.
Apple introduced a new App Store subscription model that lets developers offer cheaper monthly pricing in exchange for a 12-month commitment from users. The change is aimed at giving app makers another pricing tool as subscription competition intensifies.
Jimmy Kimmel said criticism from President Trump and first lady Melania Trump over a recent monologue was unfounded after calls for his firing intensified. The dispute escalated in the aftermath of the White House Correspondents’ Association dinner shooting, adding political pressure on Disney-owned ABC.
Taylor Swift’s company filed trademark applications last week to protect her voice and image against deepfakes and other AI misuse, NBC reported April 28. The filings include audio-related protections and reflect broader industry concern over unauthorized synthetic media.
German media group Bertelsmann agreed to buy Nashville-based Concord and combine it with BMG Rights Management in a deal Bloomberg said would create a music company valued at about $14 billion. The transaction would significantly expand Bertelsmann’s U.S. music footprint.
FIFA dropped a referee from its World Cup list after the official was arrested in the United Kingdom over an alleged sexual assault. FIFA said it was aware of the serious allegation and that the official would no longer be assigned to the tournament.
A man admitted in court to plotting an attack on a Taylor Swift concert in Vienna, where prosecutors said police found an almost completed bomb during a search of his home. The case has drawn renewed attention to security planning around major live events in Europe.
Reuters reported April 28 that the Iran war and disruption in Gulf shipping are squeezing fertilizer supplies, raising concerns for grain production in 2027 planting cycles. Analysts and agricultural traders said farmers are vulnerable to sudden cost surges because key nutrient exports move through routes affected by the conflict.
Bloomberg reported that growing AI demand is pushing terrestrial data centers toward power and cooling limits, prompting companies such as Atomic-6 to promote orbital data-center concepts. While still speculative, the proposals reflect the scale of infrastructure pressure created by generative AI expansion.
Drugmakers including Novartis, Amgen and Eli Lilly are investing in therapies that reduce lipoprotein(a), a lesser-known cholesterol-related risk factor tied to cardiovascular disease. Industry executives and analysts told CNBC the field could produce major new blockbuster medicines if trial results confirm outcome benefits.
The U.S. Supreme Court heard arguments in Bayer’s effort to limit lawsuits claiming Roundup weedkiller caused cancer and that consumers were not adequately warned of the risks. The case is closely watched by the agriculture and pharmaceutical sectors because it could shape thousands of pending claims.