through buying Globestar for $11.6 billion, a satellite company. Deal adds 2 dozen satellites to Amazon network. But rivaling Starlink is still a challenge, as it has a ten-year head start. Globalstar network will continue serving Apple features like Emergency SOS. Satellite firm's shares rise 10%, Amazon up 3%

sending the shares down 6%. Net interest income, the difference between what the company makes from lending and pays for deposits, totaled $12.1 billion. That was up from a year earlier but fell short of analysts’ estimates of almost $12.3 billion. Noninterest income, an aggregation of fees across business lines, came in at $9.35 billion, also lower than analysts’ consensus of $9.5 billion.

Jumps 0.5% in March, below expectations for a 1.1% advance. PPI rises 4.0% year-on-year, the largest gain in three years. The inflation call is still on.

assuming a short-lived Iran war. World is drifting toward 'adverse scenario' of 2.5% 2026 growth, IMF chief economist says. A deeper, longer conflict would push the global economy to the brink of recession, IMF says. IMF chief economist says oil above $110 a barrel in 2026, 2027 would make inflation hard to control. War to cause steep GDP drops for Iran, several Gulf states

Such a move would almost certainly lead to higher prices and worse service.