Monzo Bank Ltd., a UK-based digital banking pioneer, has reported a dramatic surge in pre-tax profit for the last fiscal year. Earnings before tax reached 60.4 million GBP (81.8 million USD) for the period ending March, quadrupling the previous figure of 15.4 million GBP from the earlier 13 months. Revenue also demonstrated resilient momentum, jumping to 1.2 billion GBP from 880 million GBP.

Chime Financial Inc., a recognized fintech innovator in the US neobank sector, is approaching its initial public offering with plans to launch as soon as Monday. The company’s decision aligns with renewed optimism in US equities $^SPX, which have shown remarkable resilience following a turbulent April. This timing highlights Chime’s strategic approach, as a more receptive market climate offers favorable conditions for technology-driven financial services companies seeking capital through public listings.

Donald Trump’s announcement to raise tariffs on steel and aluminum imports from 25% to 50% marks a significant escalation in US trade protectionism. Unveiled at United States Steel Corp. $X near Pittsburgh, the initiative targets overseas producers and aims to safeguard domestic manufacturing. Trump’s remarks directly connected the punitive measures to the interests of American workers, asserting that the increased levy would deter foreign rivals from undermining US industry. In his words, the shift from a 25% to a 50% barrier turns a figurative fence into “a wall”, raising the costs and complexity for foreign suppliers.