Business

Benchmark crude oil prices rose and commercial traffic through the Strait of Hormuz fell sharply after US air strikes and Iran's reported targeting of a US airbase. The US stated it shot down four Iranian drones. Reports from France 24 and the New York Times document the sequence and market effects.

The U.S. Department of Justice has opened a criminal investigation into E. Jean Carroll for possible perjury related to statements made during a 2022 deposition in her lawsuits against Donald Trump. Federal prosecutors in Chicago are examining whether Carroll falsely denied receiving outside financial support for her cases, after records showed support from Reid Hoffman routed through a nonprofit. Acting Attorney General Todd Blanche recused himself from the matter.

US forces conducted strikes against an Iranian military site on May 27 that posed threats to American personnel and commercial traffic in the Strait of Hormuz. Earlier strikes on May 26 targeted boats and missile sites. Oil prices rose above $90 per barrel amid the ongoing conflict.

The United States reimposed sanctions on Francesca Albanese on May 27 after a federal appeals court issued an administrative stay of a district court injunction. Albanese, the UN Human Rights Council special rapporteur on the occupied Palestinian territories, had been sanctioned in July 2025, removed from the list earlier in May, and faces renewed restrictions on financial access. The designation was announced by Secretary of State Marco Rubio and centers on her statements regarding Israel and the International Criminal Court.

South Korean exports are projected to rise 48.4 percent year-over-year in May, marking a 12th consecutive month of growth driven by semiconductors, according to CNA. The Bank of Korea raised its 2025 GDP growth forecast to 2.6 percent from 2 percent while holding its key interest rate at 2.5 percent, per Yonhap News. Consumer inflation is projected to reach 3.0 percent in May.

Reports indicate that 35 former judges have petitioned a court to examine a settlement between the Trump administration and the IRS involving an "anti-weaponization fund." The petition describes the arrangement as a potential "fraud on the Court." Available sourcing consists of two outlets with mixed bias ratings and provides limited primary documentation.

The Dow, S&P 500, and Nasdaq closed at record highs while oil prices fell and Micron reached a $1 trillion market cap. Sources confirm the index records and Micron milestone but leave the precise scale of the oil drop and any Iran-related driver unverified.

Salesforce reported first-quarter revenue of $11.13 billion, above the $11.05 billion analyst estimate, and issued second-quarter guidance of $11.27–11.35 billion versus the $11.36 billion consensus. Shares fell 3% in extended trading following the May 27 announcement and have declined nearly 33% year-to-date.

The Federal Reserve Bank of New York released an analysis on Wednesday documenting increased food insecurity among American households since 2020, with sharper effects among lower-income, lower-educated households and those with young children. The report links the trend to broader economic pressures, and a separate account notes more households skipping meals due to costs. Perspectives differ on the primary drivers and appropriate responses.

Iranian state television broadcast details of a proposed US framework to reopen the Strait of Hormuz, after which oil prices fell. Verified reporting confirms the broadcast and price movement but provides no US confirmation of any agreement. Multiple elements of the reported 14-point framework remain unverified.

BP removed chairman Albert Manifold after concerns about bullying behavior. Manifold disputes the company's characterization of the dismissal. Most details about the timeline, prior role, profits, and market reaction remain unverified.

Jamie Dimon, CEO of JPMorgan Chase, stated at a New York financial conference that the bank is evaluating acquisition opportunities and could allocate $10 billion to $20 billion for deals in the coming years. The bank holds just over $4 trillion in assets according to SEC filings and ranks as the largest U.S. bank by assets and fifth-largest worldwide. All details originate from a single New York Post report and remain unverified by additional outlets.

Germany's CDU-SPD coalition cabinet approved a draft Building Modernization Act submitted by ministers Verena Hubertz and Katherina Reiche that sets a 10% renewable energy requirement for new heating systems and extends flexibility for oil and gas systems in existing buildings. The legislation is intended to replace the previous Heating Act's 65% renewable mandate and is targeted for parliamentary passage before the mid-July recess. Power prices have shown extreme daily volatility according to separate reporting.

CBS News reports that the Trump Accounts app will launch on May 28, 2026, as part of a federal program providing a $1,000 government contribution per child for stock-market investment. Parents may add up to $5,000 annually, with activation handled via phased Treasury emails. One claim about a Thursday launch remains unverified.

Cognition closed a funding round exceeding $1 billion, with Lux Capital and General Catalyst as co-leads and participation from Founders Fund, 8VC, Ribbit Capital, Atreides, and Layer Global. The company reported $492 million in annualized revenue run-rate and 50% month-over-month growth in enterprise usage of its Devin tool. Valuation figures differ between sources, and the round follows an earlier $400 million round completed eight months prior.