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In a landmark agreement expanding their already successful wide-ranging commercial relationship, FIFA and Fanatics have signed a long-term, exclusive collectibles licensing deal that features trading cards, stickers, and trading card games. The agreement, which will begin in full in 2031, covers both physical and digital collectibles.

Maersk has warned that the impact of the closure of the Strait of Hormuz would be increasingly felt in global trade in the coming months, with the world’s second-largest container shipping line concerned about a potential collapse in consumer demand.

The Danish group said its costs had increased by $500mn per month because of disruption in the strait but that so far it had been able to pass these on to customers through higher freight rates.

The ISM® Prices Index registered 84.6 percent in April, an increase of 6.3 percentage points over its March reading of 78.3 percent, indicating raw materials prices increased for the 19th straight month. The Prices Index has risen 25.6 percentage points in the last three months to hit its highest reading since April 2022 (84.6 percent). All the six largest manufacturing industries — Chemical Products; Petroleum & Coal Products; Machinery; Food, Beverage & Tobacco Products; Computer & Electronic Products; and Transportation Equipment, in that order — reported price increases in April. “As was the case in March, the Prices Index reading continues to be driven by (1) increases in steel and aluminum prices that impact the entire value chain, (2) tariffs applied to many imported goods and now (3) increases in petroleum-based products as a result of the Middle East conflict. Higher prices were reported by 70.3 percent of respondents in April, up 10.9 percentage points from March’s 59.4 percent,” says Spence. A Prices Index above 52.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Producer Price Index for Intermediate Materials.

In April, the 17 industries that reported paying increased prices for raw materials, in order, are: Nonmetallic Mineral Products; Paper Products; Plastics & Rubber Products; Textile Mills; Wood Products; Primary Metals; Furniture & Related Products; Chemical Products; Fabricated Metal Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Miscellaneous Manufacturing; Machinery; Food, Beverage & Tobacco Products; Computer & Electronic Products; Transportation Equipment; and Apparel, Leather & Allied Products. No industries reported paying decreased prices for raw materials in April.

Fast-rising gas prices lifted the Federal Reserve’s preferred inflation gauge to 3.5% in March, its highest rate in almost three years, new data showed Thursday.

The Personal Consumption Expenditures price index rose 0.7% from February, a faster-than-expected acceleration from the previous monthly pace of 0.4%, the Commerce Department reported Thursday. The annual rate of inflation, which jumped from 2.8% in February, is now running at its fastest pace since May 2023.