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In the first three months of 2026, the United States’ six biggest banks collectively generated $47.4 bn in net profit, edging close to the $50 bn mark. The earnings surge reflects a sharp rise in trading activity as market participants scrambled for safety after the US‑Israeli offensive against Iran sparked a wave of volatility. Bank of America and Morgan Stanley led the pack with profit jumps of 17% and 30% respectively, while Goldman Sachs posted a 19% increase. JPMorgan Chase reported a 13% rise to $16.5 bn, Citi posted a striking 42% jump to $5.8 bn, and Wells Fargo added a modest 7% gain to reach $5.3 bn. Chief Executive David Solomon of Goldman Sachs described the results as a “very strong performance … even as market conditions became more volatile,” noting that the shift in client behavior toward cash‑preserving strategies boosted fee‑based trading revenue. Meanwhile, Bank of America’s CEO Brian Moynihan cautioned that the board remains “watchful of evolving risks,” acknowledging the broader uncertainty surrounding the Middle‑East conflict. The conflict has disrupted tanker traffic through the Strait of Hormuz, pushing energy prices higher and feeding inflationary pressures. The International Monetary Fund responded by trimming its 2026 US growth forecast by 0.1 percentage points to 2.3%, warning that a deeper escalation could trigger a global recession, especially for net energy importers and developing economies. Higher borrowing costs and inflation expectations have dampened demand for loans and mortgages, potentially curbing future investment‑banking fees tied to mergers and acquisitions. Yet, the immediate impact on trading desks has been lucrative, prompting banks to return cash to shareholders. JPMorgan set a quarterly record with a $8.3 bn share‑buyback, Bank of America followed with $7.2 bn, Citi spent $6.3 bn—its biggest buyback in two decades—while Goldman, Wells Fargo and Morgan Stanley allocated $5 bn, $4 bn and $1.8 bn respectively. Analysts view the earnings surge as a short‑term windfall that may not be sustainable if the geopolitical tension persists. Prolonged conflict could suppress corporate earnings, reduce merger activity, and ultimately erode the trading‑driven profit model that has underpinned this quarter’s success.

President Donald Trump announced on Fox Business that he will dismiss Federal Reserve Chair Jerome Powell if the central‑bank chief does not vacate the post by the statutory end of his term on May 15. “I’ll have to fire him, OK, if he’s not leaving on time,” Trump said, adding that he had previously held back the decision to avoid controversy. Powell, who has just over a month left in his tenure, has repeatedly been criticized by Trump for what the president calls a “bad job” and for refusing to lower interest rates despite Trump’s repeated demands since his return to the White House in January 2025. In January, Trump nominated former Fed governor Kevin Warsh to replace Powell. Warsh, known for his criticism of the Fed’s relatively high rates, is expected to align more closely with Trump’s push for rate cuts. His confirmation hearing before the Senate Banking Committee is slated for April 21, but the outcome remains uncertain. Republican Senator Thom Tillis of North Carolina, a member of the banking committee, has signaled he will block Warsh’s nomination until the Department of Justice concludes its criminal investigation into alleged misconduct surrounding the Fed’s headquarters renovation in Washington, D.C. Tillis described the probe as “reaching the point of absurd,” yet insists the investigation must be resolved before moving forward. The probe appears active: prosecutors made an unannounced visit to the construction site this week, as reported by the Wall Street Journal, underscoring the seriousness of the inquiry. During the same interview, Trump dismissed the investigation’s relevance, claiming the project was “probably corrupt, but what it really is is incompetence,” and questioned whether a $25 million renovation could balloon to a $4 billion expense. Powell responded in January with a rare public rebuke, labeling the investigation a “pretext” aimed at pressuring the Fed to lower rates. He warned that political intimidation could jeopardize the Fed’s ability to set monetary policy based on economic evidence. The legal backdrop adds another layer of uncertainty. The Supreme Court has yet to rule on Trump’s authority to fire a Fed board member without cause—a question that resurfaced after the president’s attempted removal of Fed governor Lisa Cook last summer. Justices appeared skeptical of such unilateral action during oral arguments in January. With the Fed’s independence at stake, the coming weeks will determine whether Trump’s threat translates into action, whether Warsh can secure Senate confirmation, and how the renovation investigation will influence the broader debate over political interference in U.S. monetary policy.

Miami Heat coach Erik Spoelstra expressed strong disapproval of LaMelo Ball's actions during Tuesday night's play-in tournament game against the Charlotte Hornets. Spoelstra stated that Ball should have been ejected for tripping Bam Adebayo, which resulted in Adebayo's injury and subsequent absence from the game.The incident occurred early in the second quarter when Ball appeared to reach out and grab Adebayo's left leg as he fell to the floor after missing a shot. This led to Adebayo falling on his back and eventually walking to the locker room under his own power, though he did not return to the game.Spoelstra emphasized that there is no place in the game for such actions, describing the play as 'stupid' and 'dangerous'. He also mentioned that it was not an excuse for the Heat's loss but highlighted the significance of Adebayo's absence.LaMelo Ball, who scored 30 points and made the go-ahead layup in overtime, apologized for his role in Adebayo's injury. He claimed he was disoriented after being hit in the head during the drive and did not intentionally grab Adebayo's leg.The play was not reviewed or penalized in real-time, with official Zach Zarba explaining that the window to review the play was closed due to the fast-paced nature of the game and the lack of an immediate whistle.The incident has implications beyond the game, with Zarba indicating that the league operations will determine if Ball should be assessed a flagrant foul in the coming days.

The Bridget Jones statue in Leicester Square, London, has been made a permanent fixture, joining other iconic characters like Harry Potter, Mary Poppins, and Batman. Originally intended to stay for three years, the statue has become a beloved landmark.149 days without vices have passed since its unveiling, and the statue's fast is set to continue indefinitely. The statue depicts Bridget Jones clutching her diary and pen, wearing a gaping cardigan exposing her navel.Kirsty Tullett-Jones, director of marketing and communications for Discover Leicester Square, said: “For 25 years, Bridget has made Londoners laugh, cry and feel seen. The reaction to her arrival in Leicester Square has been incredible, showing just how much she continues to resonate with audiences today.”The statue was unveiled by stars of the film, including Renée Zellweger and Sally Phillips, alongside Helen Fielding, who created the character. The Bridget Jones series of novels has been published in over 40 countries, and the four films have a combined box office of $900m (£683m).The news coincides with the return to cinemas of the first film, Bridget Jones’s Diary, released 25 years ago. The fourth film, Mad About the Boy, was the second highest-grossing movie in the UK last year and was nominated for an Emmy and a Bafta.

Brian Cox steps behind the camera for the first time with Glenrothan, a sentimental comedy‑drama that paints a broad, colour‑rich portrait of family ties in rural Scotland. The screenplay, penned by David Ashton, follows the uneasy reunion of two brothers against the backdrop of a lucrative, family‑run whisky distillery.Cox portrays Sandy, the stern yet ailing chief of the distillery, a business that anchors the local economy. His sister‑in‑law Jess, played by Shirley Henderson, runs the operation with unflinching competence. Sandy’s younger brother Donal, embodied by Alan Cumming, has been living in Chicago, managing a blues bar with his daughter Amy. When the bar falters, Donal receives a plaintive invitation to return home, prompting a journey that includes his granddaughter Sasha.The film juxtaposes the gritty world of Chicago blues with the serene, panoramic vistas of the Scottish Highlands, delivering visual moments that are both expansive and intimate. Whisky expertise becomes a narrative thread as Sandy, aware of Donal’s superior palate, grapples with the future of the family business and the inevitable question of succession.Humorous touches—such as Donal’s disastrous attempt at making porridge and his nostalgic discovery of a bedroom frozen in time with Buzzcocks posters—lend the story a comforting, almost TV‑night feel without sacrificing depth.Glenrothan opens in UK cinemas on 17 April and reaches Australian screens on 25 June, offering audiences a gentle, well‑acted exploration of brotherly bonds, legacy, and the pull of home.

After a 90‑year blackout, MGM’s 1932 melodrama Letty Lynton is set for its first legal public screening. The film, starring Hollywood icon Joan Crawford, was withdrawn in 1937 following a plagiarism lawsuit and pressure from the Hays Office, which deemed its risqué themes “unfit for adaptation”.The controversy began when MGM attempted to acquire the rights to the Broadway hit Dishonored Lady, a play notorious for its depictions of booze, drugs and sexual intrigue. After the playwrights demanded $30,000—a sum the studio balked at—MGM settled for the cheaper novel by Marie Belloc Lowndes for $3,500. The resulting film, inspired by the 1857 murder trial of Scottish socialite Madeleine Smith, shocked contemporary censors with scenes such as Crawford’s character watching her ex‑lover sip poisoned champagne.Legal battles intensified when playwrights Edward Sheldon and Margaret Ayer Barnes sued MGM for plagiarism, alleging the movie copied their work rather than the novel. The protracted case forced MGM to pull the film from circulation in 1937, and a year later Crawford herself was labeled “box‑office poison”. Yet both the actress and the film survived, resurfacing in cultural memory through fashion and later adaptations.Beyond cinema, Letty Lynton left an indelible mark on 1930s style. Costume designer Adrian created a white organdy dress with exaggerated sleeves for Crawford; the design was mass‑produced for Macy’s and sparked a nationwide craze. Edith Head later called the dress “cinema’s single biggest influence on fashion”.The film’s revival is largely credited to Crawford’s grandson, Casey LaLonde. In an Instagram post, he announced that the play’s copyright would expire on 31 December 2025, clearing the legal path for a public showing. Warner Bros., which now holds the rights to many pre‑1986 MGM titles, restored the picture in 4K and arranged for its debut at the TCM Film Festival in Los Angeles on 1 May 2026. The movie will also be issued on Blu‑ray and DVD through the Warner Archive.LaLonde thanked Warner Bros. and library historian George Feltenstein for making the restoration possible, noting that without their effort “we wouldn’t have this fabulous film to see again on big and small screens.”Fans of classic Hollywood can finally experience a piece of cinema history that was once deemed too daring for the silver screen, offering a fresh look at Joan Crawford’s daring performance and the era’s bold storytelling.

Pakistani Prime Minister Shehbaz Sharif is embarking on a diplomatic mission to Saudi Arabia and Turkey this week, as his efforts to facilitate a second round of peace talks between the United States and Iran appear to be gaining traction.Sharif's bid to moderate talks comes during a fragile two-week ceasefire that has halted US and Israeli strikes on Iran. President Asif Ali Zardari has urged Sharif and other officials to remain engaged with the US, Iran, and other key powers to sustain the peace process.Reports of backchannel negotiations to arrange new peace talks surfaced on Monday, followed by comments from US President Donald Trump and the United Nations on Tuesday, suggesting there is support for Sharif's push. Trump indicated that talks could resume in Pakistan over the next two days, praising Pakistan's army chief Asim Munir as 'doing a great job.'The Associated Press reported on Tuesday that a diplomat from one of the mediating countries said Tehran and Washington had agreed to more talks, although the location, timing, and composition of the delegations had not been decided. Islamabad and Geneva are being considered as potential host cities.UN Secretary-General Antonio Guterres, who met with the deputy prime minister of Pakistan on Tuesday, said it was 'highly probable' that ceasefire talks would restart. He emphasized the need for continued negotiations and a persistent ceasefire.Any return to the negotiating table would likely test the diplomatic skills of Sharif and other mediators. During the fragile two-week ceasefire, the US military has mounted a naval blockade of Iran's ports and coastal areas in response to Iran's throttling of the Strait of Hormuz, which has caused global oil prices to skyrocket.

Atletico Madrid has sent 10-man Barcelona crashing out of the Champions League, securing a spot in the semifinals with a 3-2 aggregate victory despite a 2-1 quarterfinal second leg defeat.Lamine Yamal and Ferran Torres fired visitors Barca ahead inside 24 minutes on Tuesday, but Ademola Lookman's strike gave Atletico the edge in the gripping all-Spanish tie once again after their 2-0 win in the first leg.Diego Simeone's side returned to the semifinals for the first time since 2017 by holding on against the La Liga champions in a compelling and bloody battle. Barcelona ended the game with 10 men as Eric Garcia was sent off for bringing down Alexander Sorloth as he ran in on goal, hampering their chance of finding a third goal to force extra time.Atletico, who have never won the competition and lost the 2014 and 2016 finals with Simeone at the helm, will face Arsenal or Sporting Lisbon in the semifinals.Barcelona coach Hansi Flick benched forwards Marcus Rashford and Robert Lewandowski for workhorses Torres and Gavi, looking to press Atletico relentlessly in the sixth match between these sides this season.Lamine Yamal fired the visitors ahead after just four minutes when he harried Clement Lenglet into giving the ball away. Torres nudged it back to Yamal, who slipped a low shot through Musso's legs to hush the home fans and ignite Barca's attempted comeback bid.Barcelona doubled their lead in the 24th minute to level the tie on aggregate when Torres left Lenglet trailing, reached Olmo's pass and fired across Musso into the top corner.Atletico pulled their way back into the game in the 31st minute after Barca switched off defensively for the first time. Marcos Llorente charged down the right behind the Catalans' high defensive line and crossed for Lookman to convert.The game spun away from Barca when Eric Garcia was sent off for clipping Sorloth's heels as he ran through on goal, similar to Pau Cubarsi's red card in the first leg.Flick threw centre-back Ronald Araujo up front for the final stages, but there was no way back, and Atletico gritted their teeth through eight minutes of stoppage time before the celebrations could begin.

The stage is set for a thrilling encounter at the Allianz Arena in Munich, Germany, as Bayern Munich hosts Real Madrid in the second leg of their UEFA Champions League quarterfinal matchup. The German side holds a 2-1 aggregate lead, making Real Madrid's task even more daunting.Real Madrid's season has been a rollercoaster, with the team struggling to find consistency. Despite their recent 1-1 draw against Girona in La Liga, which has effectively ended their title hopes, they must now focus on overcoming Bayern Munich. The Spanish giants have had a remarkable history in the Champions League, having won the competition 14 times, a record in the tournament.Bayern Munich, on the other hand, has been in stellar form, extending their lead to 12 points at the top of the Bundesliga table with a 5-0 win over St Pauli on Saturday. Their star striker, Harry Kane, is expected to return after sitting out the league match due to a minor injury.The most pressing concern for Real Madrid is the facial injury sustained by Kylian Mbappe in training. However, given his importance to the team and the significance of the match, it's likely that he will be patched up to play. Mbappe has been in exceptional form, leading the Champions League scorers' list with 14 goals this season.In terms of team news, Bayern Munich will be without Lennart Karl and Sven Ulreich due to injuries, while Serge Gnabry has a minor knee problem but is expected to be available. Real Madrid will be without Thibaut Courtois, Rodrygo, and Aurelien Tchouameni due to injuries and suspensions.This matchup between two European giants is the most played fixture in Champions League history, with 29 meetings between the sides. Real Madrid has won 13 matches, while Bayern Munich has emerged victorious on 12 occasions.