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OpenAI is preparing to file for an initial public offering in the coming weeks and is targeting a public debut sometime in the fall. The exact timing remains uncertain. The ChatGPT creator, co-founded by Sam Altman, is one of the world's most valuable and powerful AI companies. Bloomberg's Ed Ludlow has all the details.

A majority of Federal Reserve officials warned the central bank would likely need to consider raising interest rates if inflation continued to run persistently above their 2% target, minutes of the April 28-29 Federal Open Market Committee meeting showed. Mike McKee reports.

"We may have to give (Iran) another big hit," President Donald Trump says while speaking with reporters at the White House.

The Securities and Exchange Commission is expected to release its innovation exemption for tokenized stocks. Scott Patterson reports on "Bloomberg Open Interest."

Elevated bond yields dominated the Group of Seven meeting in Paris as finance ministers discussed how oil-fueled inflation risks overshadowing world economic prospects. The talks, which were meant to dwell on global imbalances, took place against the backdrop of US President Donald Trump's extended standoff with Iran which is keeping the Strait of Hormuz shut. Bloomberg's Oliver Crook reports.

US Treasury Secretary Scott Bessent, speaking ahead of a meeting with other Group of Seven finance ministers in Paris, called on G-7 nations and other allies to increase sanctions on Iran in an effort to "crack down on the illicit finance that is fueling the Iranian war machine."

China has agreed to buy at least $17 billion of agricultural products annually through 2028, the US said after Donald Trump and Xi Jinping held a major summit in Beijing last week. Bloomberg's Stephen Engle has the details.

Alberta Premier Danielle Smith discusses plans for a new pipeline to the west coast of Canada and expects Asian firms will invest. She speaks with Katie Greifeld on "Bloomberg The Close."

Bloomberg's Laura Nahmias joins Scarlet Fu on "Bloomberg Real Yield."  New York lawmakers are planning a new tax on New York City homes purchased in cash for at least $1 million, according to people familiar with the state budget negotiations.

Federal Reserve Governor Michael Barr says shrinking the central bank's balance sheet is the "wrong objective." He spoke May 14 at a Money Marketeers of New York University event.