Top stories for the morning: new US-Iran talks, Google faces hundreds of billions in lawsuits
The U.S. and Iran are trying to agree on a new round of talks before the ceasefire expires. Alphabet faces the risk of lawsuits for more than $200 billion due to antitrust claims. On these and other topics - in our review of key events for the morning of April 14.
US and Iran prepare new round of truce talks
The U.S. and Iran are discussing holding a new face-to-face round of talks on a longer-term cease-fire after an inconclusive meeting in Islamabad, Bloomberg has learned. The goal is to meet before the expiration of a two-week cease-fire announced April 7. Islamabad is again being considered among the possible venues, as well as Turkey and Egypt.
This weekend's talks in Pakistan broke down over disagreements over the nuclear program: Washington demands concessions, Tehran insists on the right to enrich uranium. At the same time, both sides allow the dialog to continue. US President Donald Trump announced earlier about contacts with Iran, in parallel increasing pressure through the blockade of the Strait of Hormuz.
Google faces hundreds of billions in lawsuits over antitrust cases
Alphabet could face multibillion-dollar claims: advertisers are banding together for mass arbitration after 2024 court rulings that found its search and advertising businesses to be illegal monopolies, Bloomberg writes. The first lawsuits could be filed as early as this week, with total claims estimated at more than $218 billion.
Mass arbitration, the agency explains - which is when 25 or more claims against one company are joined together - provides plaintiffs with a greater likelihood of receiving compensation from a settlement than individual claims. Google says it cannot estimate possible losses and intends to contest the claims.
OpenAI's $852 billion valuation under pressure due to competition and strategy shift
OpenAI's valuation of $852 billion raises questions among some investors amid a shift in strategy: the company is trying to simultaneously retain ChatGPT's leadership among users and build up its position in the corporate segment, where pressure from Anthropic is increasing, the Financial Times writes. The rapid growth of the competitor and a series of initiatives, deals and abandonment of projects have increased fears about the unfocusing of the business.
Meanwhile, OpenAI has raised a record $122 billion and insists on supporting its strategy despite losses and high infrastructure costs. The company is reallocating resources in favor of enterprise products and computing power, but investors point to the risk of losing focus and increased competition from Anthropic and Google, the newspaper notes.
IEA: oil prices do not reflect the scale of the biggest supply crisis
The head of the International Energy Agency Fatih Birol said that the market is still underestimating the consequences of the war with Iran: the conflict and the blockage of the Strait of Hormuz caused about 13 million barrels of oil per day and damaged more than 80 energy facilities, Bloomberg writes. Recovery, according to him, may take up to two years.
Despite the growth of oil quotations by about 64% since the beginning of the year, prices remain below the peaks of past crises and do not reflect the real deficit, the head of the IEA pointed out. The organization expects that this gap will soon narrow, which will create risks for the global economy. The IEA reminds that strategic reserves have already been deployed to stabilize markets.
Startup DeepX is preparing for an IPO in South Korea and considering a US listing
South Korean AI chip developer DeepX has decided to launch a domestic initial public offering and then allow for a possible US listing, Reuters reports. The company is partnering with Hyundai Motor and Baidu.
After completing its current funding round in the first half of the year, DeepX intends to select banks to organize an IPO, its CEO Lokwon Kim said.
What's in the markets
- Japan's broad Topix index rose 0.8 percent on April 14, while the Nikkei 225 rose 2.4 percent.
- Hong Kong's Hang Seng Index was up 0.4 percent, while mainland China's CSI 300 Index was up 0.8 percent.
- In South Korea, the Kospi index rose 3.6%, while the Kosdaq added 2%.
- Australia's S&P/ASX 200 was up 0.6 percent.
- Futures on the S&P 500 were almost unchanged, futures on the Nasdaq Composite were adding 0.2%. Exchange contracts on Dow Jones Industrial Average were almost unchanged.
This article was AI-translated and verified by a human editor
