Business & Economics

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Five EU Finance Chiefs Urge New Windfall Tax After Hormuz Oil Shock

In an April 3 2026 letter, the finance ministers of Spain, Germany, Italy, Portugal and Austria formally asked the European Commission to resurrect 2022-style profit caps on energy firms to blunt the inflationary oil-price spike triggered by Iran’s closure of the Strait of Hormuz.

SpaceX Confidentially Files for Record-Shattering $1.75 Trillion IPO

On 1 April 2026, Elon Musk’s SpaceX quietly lodged a draft registration with the SEC, aiming for a June flotation that could raise $50–$75 billion and peg the newly merged SpaceX-xAI at about $1.75 trillion—far surpassing any previous stock-market debut.

Trump Imposes 100% Tariff on Imported Brand-Name Drugs

On 2 April 2026 President Trump signed a Section 232 order slapping a 100 % duty on patented pharmaceuticals made abroad, with lower interim rates for firms that on-shore production or cut U.S. prices, effective within 120–180 days.

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