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SoftBank is scaling back plans for a $10 billion margin loan backed by its OpenAI stake after creditors voiced some hesitation. Matthew Bloxham of Bloomberg Intelligence has more.

US President Donald Trump's 10% global tariffs were declared unlawful by a federal trade court just months after the US Supreme Court vacated earlier levies he'd imposed. Brendan Murray has the details on Bloomberg Television.

The Japanese yen surged about 1.8% in the span of a half hour during the afternoon of the Asia session and topped 155.04 per dollar, renewing speculation that the country is intervening in the market. The currency later pared some of the advance. David Savage reports on Bloomberg Television.

GameStop is proposing to buy eBay for about $56 billion in cash and stock, offering $125 per share in cash and stock for the online marketplace, or about a 20% premium to its Friday close. Neil Campling reports on Bloomberg Television.

Seema Shah, chief global strategist at Principal Asset Management, says earnings suggest there isn't as much exposure to the conflict with Iran as expected and sees US markets being able to keep the impacts "quite contained."

Earnings reports from Alphabet, Amazon.com, Meta and Microsoft, the four biggest spenders on artificial intelligence computing infrastructure, are due after the bell. Mandeep Singh of Bloomberg Intelligence has a preview.

China has decided to block Meta's $2 billion acquisition of agentic artificial intelligence startup Manus, sending a chill through China's burgeoning AI sector and happening weeks before a high-profile summit between US President Donald Trump and China's Xi Jinping. Bloomberg Intelligence's Matt Bloxham explains.

President Donald Trump said he is considering having the US purchase Spirit Aviation Holdings Inc., saying it could be a potentially good investment for the federal government. "We'd be getting it virtually debt free. They have some good aircraft and good assets," the president told reporters Thursday. Bloomberg's Benedikt Kammel reports.

The United Arab Emirates has reportedly opened talks with the US about a financial backstop in case the country plunges into further crisis due to the war on Iran, according to the Wall Street Journal. Kasia Klimasinska reports on Bloomberg Television.

Oil contracts remain about a third higher than before the war with Iran but are well below peaks seen in the opening weeks of the conflict. Will Kennedy examines the oil futures curve and physical pricing of barrels on Bloomberg Television.