Bloomberg — 2026-05-18#

Lead Story#

NextEra Energy Inc. has agreed to acquire Dominion Energy Inc. for approximately $67 billion in stock, marking the largest power-sector acquisition in history. The mega-merger will create a utility colossus spanning from Florida to Virginia, explicitly targeting the massive electricity demands of hyperscale data centers clustered in the mid-Atlantic. The transaction underscores how artificial intelligence is fundamentally reshaping US energy infrastructure and forcing rapid industry consolidation to handle grid constraints.

Markets & Economics#

• Global Bond Yields Surge on Inflation Angst: Long-term borrowing costs across the US, UK, and Japan have spiked to multi-year highs as the prolonged closure of the Strait of Hormuz stokes fears of sticky, energy-driven inflation. Morgan Stanley strategists are now warning that the relentless bond selloff threatens to derail the AI-fueled equity rally.
• US and China Reach $17 Billion Agricultural Deal: Following a bilateral summit in Beijing last week, the White House announced China has agreed to purchase at least $17 billion annually in American farm goods through 2028. Chicago grain futures jumped on the news, which brings rare stability to the US-China trade relationship.
• China’s Economic Data Misses Estimates: Chinese growth slowed sharply in April, with investment resuming its decline and retail sales ticking up a mere 0.2%. The data highlights a deteriorating domestic economy that can no longer rely solely on booming exports for stabilization.

Business & Industries#

• Musk Loses OpenAI Lawsuit Against Altman: A California jury rejected Elon Musk’s claims that OpenAI CEO Sam Altman betrayed the startup’s non-profit mission by pivoting to a for-profit structure. The jury ruled that Musk waited too long to file his grievance against the company he helped found.
• Ryanair Flags Impending European Airline ‘Casualties’: Ryanair Holdings Plc CEO Michael O’Leary warned that persistently high, unhedged jet fuel prices stemming from the Middle East conflict will likely trigger bankruptcies among weaker European carriers. The budget airline noted its own unit costs could rise by a mid-single-digit percentage next year.
• Regeneron Plunges After Melanoma Trial Fails: Shares of Regeneron Pharmaceuticals Inc. dropped sharply following a disappointing phase 3 trial update for its metastatic melanoma drug, fianlimab. The failure adds to a series of recent pipeline challenges for the US biotech giant.
• Publicis Snaps Up LiveRamp for $2.5 Billion: French advertising conglomerate Publicis Groupe SA agreed to acquire online data broker LiveRamp Holdings Inc. in an all-cash deal. The move underscores the media firm’s continued investment in marketing technology even as the broader advertising industry contracts.

Policy & World#

• Trump Calls Off Iran Strike Amid Ceasefire Talks: After initially warning Tehran that the “clock is ticking” following a drone attack on a UAE nuclear plant, President Donald Trump abruptly called off a planned Tuesday military strike. Trump cited appeals from Gulf allies and stated that serious negotiations are now underway to resolve the ongoing war.
• WHO Sounds Alarm Over Rare Ebola Strain: The World Health Organization declared a global health emergency over a deadly outbreak of the Bundibugyo Ebola strain in the Democratic Republic of Congo and Uganda. US authorities are currently coordinating the extraction of American citizens from the affected region.
• UK Leadership Crisis Deepens Under Starmer: Pressure is mounting on British Prime Minister Keir Starmer to step down following a string of electoral defeats and growing Labour Party revolts, though his office refuses to provide a departure timetable. Manchester Mayor Andy Burnham has emerged as a frontrunner to replace him, raising investor fears over potential looser fiscal policy.

Opinion & Analysis#

• NextEra’s $118 Billion Deal Will Define the AI Power Boom: Bloomberg Opinion points out that NextEra’s mega-merger with Dominion isn’t just about traditional utility synergies. It is a strategic maneuver to control the massive grid infrastructure required by hyperscale tech companies, fundamentally changing how utility deals will be structured going forward.
• Why the Price of Oil, Beef, Electricity Makes No Sense: Javier Blas and Lorcan Roche Kelly break down how the closure of the Strait of Hormuz is creating cascading, seemingly illogical price shocks across global supply chains, altering how consumers fundamentally experience the economy.