On Tuesday evening, the U.S. Federal Reserve announced a pivotal regulatory update regarding Wells Fargo & Company $WFC. The central bank lifted the $1.95 trillion asset cap imposed on Wells Fargo in 2018 following a high-profile sales practices scandal. This development marks a significant milestone in Wells Fargo's regulatory rehabilitation and signals enhanced confidence in the bank’s governance and risk controls. Following the announcement, Wells Fargo’s shares rose 2.1% in early trading to $77.27, reflecting positive investor sentiment.

A Russian subsidiary of Microsoft Corp. $MSFT has filed for bankruptcy, according to an official filing on Russia’s public registry, Fedresurs, dated Friday. This development marks a formal legal step in the tech giant’s continued disengagement from the Russian market following geopolitical tensions and increasing state-led restrictions on foreign software providers.

Saudi Arabia, the world’s largest oil exporter, is intensifying its refining capacity to bolster profits amid declining crude oil prices and reduced export revenues. This strategic pivot reflects the kingdom’s response to evolving global energy demand patterns and price volatility in the oil markets. By investing heavily in refining and petrochemical infrastructure domestically and internationally, Saudi Arabia aims to capitalize on higher value-added products such as refined fuels and plastics.