• China Buys Excess Crude Oil, Looks to Russia for Even More
  
  China is continuing to import more crude oil than it needs as weak refinery processing rates, soft domestic demand and constrained exports of refined fuels combine to boost the building of stockpiles.
• Sen. Schumer Plans to Put Up Tech Antitrust Bill for Vote by Early Summer
  
  Senate Majority Leader Chuck Schumer plans to put bipartisan tech antitrust legislation up for a vote by early summer before both houses of Congress take an extended recess, reports Axios.
• WhatsApp to Launch Free, Cloud-Based API
  
  WhatsApp is introducing free cloud-based API services in a push to get more businesses using the app, Meta Platforms CEO Mark Zuckerberg announced at the company's messaging event on Thursday.
• Schroders to Oppose Amazon, Meta, Alphabet Over Worker Rights
  
  Schroders, Britain's biggest listed asset manager, said on Wednesday it would back a swathe of shareholder resolutions at Amazon, Meta and Google-owner Alphabet concerning workers' and digital rights.
• Rising Prices, Interest Rates Cool US Home Sales in April
  
  Rising prices and higher mortgage rates slowed US existing home sales for the third consecutive month in April, according to an industry survey released Thursday.Sales fell 2.4 percent compared to March to an annual rate of 5.61 million, seasonally adjusted, which was 5.9...
• Average Long-Term Mortgage Rates Edge Down to 5.25%
  
  Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels.
• TikTok Plans Big Push Into Gaming
  
  TikTok has been conducting tests so users can play games on its video-sharing app in Vietnam, part of plans for a major push into gaming, four people familiar with the matter said.
• Tom Cruise Awarded Surprise Honorary Palme D'Or at Cannes
  
  Tom Cruise mania descended Wednesday in Cannes where the actor made a whirlwind appearance at the film festival to walk the red carpet, exalt the big screen in a rare interview and watch a squadron of French fighter jets fly over the premiere of "Top Gun: Maverick."
• SpaceX the Most Valuable Startup in US History
  
  Billionaire Elon Musk's SpaceX is poised to become the most valuable U.S. startup as its valuation rose to over $125 billion in an ongoing share sale in the secondary market, sources familiar with the matter told Reuters.
• US, China Lead Rise in Global Debt to Record $305T
  
  The world's two largest economies borrowed the most in the first quarter as global debt rose to a record above $305 trillion, while the overall debt-to-output ratio declined, data from the Institute of International Finance showed on Wednesday.
• Cryptos Stabilize, Bitcoin Rallies After Stablecoin Slide
  
  Cryptocurrencies regained their footing and steadied on Friday, with bitcoin recovering from a 16-month low after a volatile week dominated by the collapse in value of TerraUSD, a so-called stablecoin.
• Oil Jumps 4 Percent as Gas Hits Record & Stocks Soar
  
  Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to an all-time high, stock markets soared and on fears supplies would tighten if the European Union bans Russian oil.
• Crypto Meltdown Deepens as Tether Drops Below Dollar Peg
  
  The meltdown in TerraUSD, one of the world's largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows.
• Crypto Comes to Washington. Will the Millions Buy Influence?
  
  Erin Houchin braced for the worst when a mysterious, well-financed group started buying television ads last month in her highly competitive southern Indiana congressional race.
• Gazprom Germania Finds Alternatives to Russian Gas
  
  German energy companies hit by Kremlin-imposed sanctions have been able to find alternatives to Russian gas, Economy Minister Robert Habeck said on Thursday, adding that the network regulator would provide details on the matter.
• Coinbase Loses Half Its Value in a Week
  
  Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop ever on Wednesday as the famously volatile crypto market weathers yet another slump.
• SEC to Ramp Up Scrutiny of Risky Derivatives
  
  The chair of the U.S. Securities and Exchange Commission warned on Wednesday that the agency may bring more enforcement actions in cases involving risky derivatives, saying such products can create "system-wide risks" during times of market stress.
• How Wall Street Made a Killing on SPAC Craze
  
  Investment banks have raked in billions of dollars by feeding the frenzy for blank-check companies, and they have done so largely without risking any of their own money on hundreds of deals that have left many investors with punishing losses.
• Collapsed Stablecoin TerraUSD Announces Recovery Plan
  
  TerraUSD, the so-called stablecoin that unexpectedly broke its dollar peg this week, will adjust its complex pegging mechanism in an attempt to stabilize the cryptocurrency, its co-founder said in a tweet on Wednesday.
• Goldman, Morgan Warn of Ongoing Volatility
  
  While major Wall Street banks have yet to come out and formally project a contraction in the S&P 500 in 2022, they are beginning to sour on the markets, Bloomberg reports.
• JPM: Emerging Markets Growth to Slow Sharply in 1Q22
  
  Economic growth in emerging markets is set to slow "sharply" this quarter weighed by China, Russia and the spread of tighter monetary conditions, JPMorgan analysts said Monday.
• Oil Prices Tumble Over 5%, Weighed by China Lockdowns
  
  Oil prices sank over 5% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook. Brent crude fell $5.92, or 5.3%, to $106.47 a barrel at 1:06 p.m. EDT (1706 GMT).
• Oil Prices Fall, Weighed Down by Dollar, China Lockdowns
  
  Oil prices slipped on Monday alongside equities and weighed down by a strong dollar and demand concerns on the back of continued coronavirus lockdowns in China, the world top oil importer.
• Wild Price Swings Roil Markets
  
  Volatility has been the watchword for markets in the last several months, as worries over a hawkish Fed, sky-high commodity prices and geopolitical tensions stemming from the war in Ukraine roil asset prices.
• Airline Execs Flag Risk of Inflation Hurting Travel Demand
  
  Airlines are watching for signs that soaring inflation will curtail a rebound in travel demand following the pandemic, executives told an audience of financiers Friday.

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