Main by morning: US and Iran exchange blows, Apple seeks new chipmakers

The U.S. and Iran have exchanged strikes in the Persian Gulf, calling into question a four-week truce. Apple is in talks with Intel and Samsung about possible processor production in the US, seen as an alternative to its key partner TSMC. On these and other topics - in our review of key events for the morning of Ma 5.

The U.S. and Iran exchanged strikes in the Persian Gulf, drawing the UAE into the conflict and jeopardizing a four-week truce, Bloomberg reports. U.S. forces repelled drone, missile and boat attacks while escorting ships through the Strait of Hormuz, while the UAE reported intercepting Iranian missiles and hitting a tanker and the port of Fujairah.

There are calls in the US and Israel for new strikes on Iran, but Tehran claims progress in talks, warning of the risk of further dragging the region into the conflict, the agency points out.

HSBC, Europe's largest bank, reported a drop in first-quarter pretax profit to $9.4 billion from $9.5 billion a year earlier, amid rising credit losses and impairments, CNBC reports. Analysts had forecast that profit would reach $9.6 billion, while revenue rose 6% to $18.6 billion on strong capital management income, beating expectations.

The bank noted increased risks due to the conflict in the Middle East, including pressure on inflation and GDP, which could reduce profits. At the same time, HSBC expects to cut costs and confirmed its target profitability, although it allows it to fall below 17% in a negative scenario.

Apple is discussing with Intel and Samsung the possibility of manufacturing processors for its devices in the United States, considering them as a backup to key partner TSMC, Bloomberg writes, citing sources. The talks are at an early stage and have not yet resulted in orders, with the company questioning whether the new suppliers will be able to provide the right level of technology and scale.

Chip shortages caused by the growing demand for AI and Macs are already limiting Apple's sales: the company expects to receive about 100 million chips from the Arizona plant in 2026, which covers only a fraction of the needs. Against this background, Apple is seeking to diversify its supply chain, although the transition to new manufacturers remains difficult and risky, the agency explains.

OpenAI co-founder and president Greg Brockman said in court that his stake in the company is worth nearly $30 billion and also revealed closer financial ties with CEO Sam Altman than previously known, Reuters reports. The testimony came as part of a lawsuit filed by Elon Musk, who is seeking $150 billion in compensation and seeking the removal of OpenAI's management, accusing the company of departing from nonprofit principles.

Brockman confirmed that he owns stakes in projects related to Altman, including startups Cerebras and Helion Energy, as well as a stake in Altman's family fund. Musk's team believes such ties call into question the top executive's independence. OpenAI claims that the lawsuit is motivated by Musk's attempt to strengthen the position of his AI business.

Apple is preparing a Create a Pass feature in iOS 27 that will allow users to independently create digital tickets, passes and gift cards right in the Wallet app, Bloomberg has learned. The tool will be able to turn QR codes into full-fledged passes with the ability to customize the appearance, text and data.

The innovation will solve the problem of services without Wallet support and should increase competition with Android, which already has a similar feature. The update will be part of the iOS 27 release with a focus on AI and performance, which will be presented in June at the WWDC conference, the agency points out.

- Tokyo Stock Exchange is closed due to holidays.

- Hong Kong's Hang Seng index fell 1.3 percent. The Shanghai Stock Exchange and Shenzhen Stock Exchange are also down.

- Australia's S&P/ASX 200 was down nearly 0.5 percent.

- Futures on the S&P 500 and Dow Jones Industrial Average rose 0.1%, while Nasdaq Composite exchange-traded contracts added 0.2%.

- Oil prices declined after a sharp rise in trading on Monday, Ma. 4. Futures for the Mark Brent with delivery in July lost 0.8% and traded at $113 per barrel, while the U.S. oilWTI fell by almost 2%, falling to $104 per barrel.

World oil reserves are not yet at critically low levels, but the pace of their decline and uneven regional distribution are raising concerns about localized shortages, especially in South Africa, India, Thailand and Taiwan, Goldman Sachs analysts wrote in a note Monday. Easily accessible reserves of refined products are rapidly depleting, particularly petrochemical feedstocks and jet fuel.

This article was AI-translated and verified by a human editor