April 1 International Finance Headlines: Trump Signals Ceasefire, Iran President Expresses Willingness to End War, OpenAI Secures $122 Billion Funding

Key headlines from global financial media overnight and this morning include:

1. Denying Overflight and Military Intervention: UK and France's Refusal to Join War Draws Trump's Warning: "America Won't Help You Anymore" 2. Iran's President: Iran Willing to Cease Hostilities if No Further Attacks Occur 3. OpenAI Completes $122 Billion Funding Round, Reaching an $85.2 Billion Valuation 4. Seasoning Maker MKC to Merge with Unilever's Food Business in "Small Acquires Large" Deal 5. US Customs Agency Reports Tariff Refund System Progressing, But Payments Could Take Up to 45 Days 6. Iran Maintains Tight Control Over Strait of Hormuz, But Number of Authorized Ship Transits Sees Slight Increase

Denying Overflight and Military Intervention: UK and France's Refusal to Join War Draws Trump's Warning: "America Won't Help You Anymore" On Tuesday, US President Donald Trump warned the UK and France that "America won't help you anymore," expressing dissatisfaction with these close allies for refusing to join military action against Iran. Trump posted on his Truth Social platform: "France is not allowing aircraft carrying military supplies and heading to Israel to fly over its territory." In another post, Trump specifically criticized the UK, while urging other nations to take action in the Strait of Hormuz, a critical oil transit channel effectively blockaded by Iran during the conflict. "To all the countries that cannot get jet fuel because the Strait of Hormuz is blocked, like the UK which refused to participate in clearing out Iran, I have advice for you. First, buy from America, we have plenty. Second, find some belated courage, go to the Strait, and take it back directly. You need to start learning to fight for yourselves. America won't help you anymore, just like you didn't help us initially. Iran is basically defeated, the hardest part is done. Go get your own oil!" he wrote.

Iran's President: Iran Willing to Cease Hostilities if No Further Attacks Occur Iranian state media reported on Tuesday that President Masoud Pezeshkian stated Iran is prepared to stop fighting, provided assurances are received against further attacks. According to Iran's Press TV, Pezeshkian said: "At no stage have we sought to create tension or start a war. Provided necessary conditions are met, especially obtaining reliable guarantees to prevent aggression from happening again, we have sufficient resolve to end this war." Press TV cited Pezeshkian's remarks in a report concerning a phone conversation between the Iranian president and European Council President António Costa. Following these statements, US stocks rose around midday; markets had already seen a rebound earlier after comments from Trump administration officials regarding ending the war.

OpenAI Completes $122 Billion Funding Round, Reaching an $85.2 Billion Valuation OpenAI has completed a funding round, raising $122 billion from investors at a valuation of $852 billion. This is the company's largest funding round to date and will support its significant investments in chips, data centers, and talent. The funding, secured over several months, primarily came from three major tech companies. Amazon agreed to invest $50 billion, while Nvidia and SoftBank Group invested $30 billion each. A significant portion of Amazon's investment—$35 billion—is contingent on OpenAI either going public or reaching a technological milestone in Artificial General Intelligence (AGI). The developer of ChatGPT also secured funding from numerous other notable backers, including Andreessen Horowitz, Abu Dhabi's MGX, D.E. Shaw Ventures, TPG, and T. Rowe Price. The company's valuation includes the amount raised in this round.

Seasoning Maker MKC to Merge with Unilever's Food Business in "Small Acquires Large" Deal Unilever PLC has agreed to merge its food business with seasoning maker McCormick. The $44.8 billion deal will create a global company in seasonings, sauces, and condiments. Under the agreement, McCormick will pay Unilever $15.7 billion in cash and $29.1 billion in McCormick stock to acquire the majority of Unilever's food business. Unilever and its shareholders will hold a 65% stake in the combined entity. The merged company will include brands such as McCormick's French's mustard. This transaction is the largest in the history of both companies. It will advance Unilever's transformation into a global leader focused on beauty, personal care, and home care, while significantly enhancing McCormick's competitiveness in the global packaged food market.

US Customs Agency Reports Tariff Refund System Progressing, But Payments Could Take Up to 45 Days US Customs and Border Protection stated on Tuesday that progress is being made in establishing a streamlined process to refund approximately $166 billion in tariffs deemed illegal by the Supreme Court. However, its new system may take up to 45 days to review and process refund applications. In a filing with the US Court of International Trade, CBP official Brandon Lord said development of the new refund application portal, review, processing, and disbursement system is currently 60% to 85% complete. He did not provide a start date for applications, but the agency had previously indicated a 45-day target, with this deadline ending in late April. In Tuesday's filing, Lord stated the new system will begin accepting applications in phases, prioritizing entries that were liquidated or finally liquidated within the first 80 days, as well as entries whose liquidation status is "suspended, extended, or under review."

Iran Maintains Tight Control Over Strait of Hormuz, But Number of Authorized Ship Transits Sees Slight Increase Although most commercial ships remain unable to pass through the Strait of Hormuz without Iranian authorization, the number of vessels transiting the strait with their Automatic Identification Systems (AIS) active has seen a moderate increase. Tracking data shows that in the week ending Monday, two-way traffic through the Strait of Hormuz rose to an average of 7 ships per day, up from 5 ships the previous week. While this figure remains well below normal levels, the increase suggests that a small, screened number of vessels—primarily associated with Iran or other non-hostile Asian partners—continue to transit. By permitting passage for vessels from friendly nations while restricting Western shipping, Iran's blockade has become a potent tool of economic warfare. The spillover effects are creating supply-side crises for nations reliant on exports from the Persian Gulf.