Private Credit Could Spark Psychological Contagion, Barr Warns

May 3, 2026 | Markets, Private Credit

Federal Reserve Governor Michael Barr said stress in private credit could spark “psychological contagion” leading to a broader credit crunch, once again warning against loosening the reins on Wall Street at a time of rising risks. In an interview with Bloomberg News,...

Ukraine Says Russia’s Primorsk Oil Export Port Damaged in Attack

May 3, 2026 | Markets

Ukraine said it damaged Russia’s Primorsk port on the Baltic Sea, a key oil export hub, in a drone barrage that also targeted several vessels. A Karakurt-class missile ship, patrol boat and tanker from Russia’s shadow fleet were hit in the attacks, Ukrainian...

Air Canada Pulls 2026 Outlook on Fuel Costs; Shares Drop

May 1, 2026 | Markets

Air Canada suspended its full-year financial guidance because of the surge in jet fuel prices caused by the war in Iran. “Since late February, the situation in the Middle East and the sharp increase in global jet fuel prices have created a significant external shock...

Psychiatry Drugmaker Seaport Rises 10% After Trading Debut

May 1, 2026 | Markets

Seaport Therapeutics Inc., shares jumped 10% in the firm’s trading debut, after the company raised nearly $255 million in an upsized initial public offering. The Boston-based company’s shares closed at $19.84 each, above the IPO price of $18 apiece. The biotech firm...

Big Oil Bosses Warn Energy Is Moving Closer to Cliff’s Edge

May 1, 2026 | Markets

America’s biggest oil companies are warning that global crude markets may be nearing an inflection point of higher prices the longer the Strait of Hormuz stays closed. Every day the waterway remains shut, the world is using up commercial stockpiles, strategic reserves...