Guy

Hey, I'm Guy with your daily brief for Thursday, April 9th.

Coming up, the US-Iran ceasefire sent investors back into the arms of stocks and mega-investor Bill Ackman's firm Pershing Square wants to take over the world's biggest music label.

We'll also check in with Carl to get his answers to your burning questions.

Investors heaved a sigh of relief on Wednesday, set aside their fears and cautiously dipped back into stocks and bonds after the US and Iran agreed to a two-week ceasefire.

It was the first diplomatic breakthrough since the war started nearly six weeks ago.

The deal calls for a pause in military action and the resumption of shipping through the Strait of Hormuz, a crucial bottleneck for the global energy trade.

But let's not get ahead of ourselves.

Shipping hasn't resumed, and what happens next depends on whether this ceasefire actually holds.

People had been bracing for a worst-case scenario – prolonged shipping disruptions, further attacks on Gulf energy infrastructure, and extended hostilities.

So, when the ceasefire news hit, traders reacted fast, sending the Brent oil price down more than 15% and below $100 for the first time in weeks.

They bought up stocks and government bonds too, as lower energy costs ease some inflation fears.

And they ditched the US dollar, whose price versus other currencies slid to its lowest level in a month as investors who'd treated it like a life raft waded into other waters.

The bigger picture?

Even if the ceasefire holds and oil continues to fall, this episode has just reminded everyone how dependent the world economy is on just a few key energy routes.

Before we dive into the next story, it's time for our daily check-in with Carl.

You've got questions, he's got answers.

Carl, what have you got for us?

On Tuesday, the activist investor and CEO of the Pershing Square investment firm proposed a $55 billion takeover of the world's biggest music label, Universal Music.

He's got a plan to merge it with one of its blank check companies and ultimately take it public in New York.

Investors weren't overly excited.