Vice President JD Vance said U.S. military escort operations helped prevent a global energy crisis during the war with Iran. The six-month conflict pushed the national average diesel price to a record $5.85 per gallon, disrupting global fuel supplies and driving up crude oil prices. The United States also approved potential arms sales to Saudi Arabia, including $5 billion in Joint Direct Attack Munitions and related equipment and a separate $750 million package for tank engines and associated support.

Virgin Group founder Sir Richard Branson said Middle East tensions have disrupted oil production and transport, sending jet fuel prices higher and lifting airfares. The European benchmark jet fuel price has risen from around $800 a tonne to about $1,450 after peaking at more than $1,800 in April. Virgin Atlantic has responded by adding fuel surcharges of £50 for economy, £180 for premium and £360 for business class.

Enbridge shares are trading near C$69, down from a 12-month high above C$80, lifting the dividend yield to 5.6%. The company has already sanctioned C$9 billion in growth projects in 2026 and is advancing a C$41 billion secured capital program. It has also announced a C$2.7 billion expansion of the Westcoast natural gas pipeline system in British Columbia and agreed to buy Permian Basin oil infrastructure assets for US$600 million.

Novartis said its experimental cardiovascular drug pelacarsen failed in a large clinical trial. The treatment had been widely viewed as a potential breakthrough for preventing heart attacks, strokes and cardiovascular deaths. The setback surprised cardiologists who had been expecting Lp(a)-targeting drugs to play a major role in prevention.

S&P Dow Jones Indices said Bloom Energy will be added to the S&P 500 as part of its September quarterly rebalance. Following the announcement, Bloom Energy shares rose about 6% in Friday after-hours trading. The stock is up more than 191% this year, driven by rising AI data center power demand and several multi-billion-dollar deals.

El Salvador President Nayib Bukele has made concessions to meet International Monetary Fund (IMF) requirements, announcing an end to government-level bitcoin purchases and the transfer of the country’s existing bitcoin reserves to a private operator for management. The move marks a significant shift in El Salvador’s bitcoin strategy, after the country made bitcoin legal tender and continued accumulating the asset.

The Bloomberg Dollar Spot Index fell 0.7% for the week, though losses narrowed after strong US payrolls data on Friday lifted the implied odds of a September Fed rate hike to about 60%. The yen outperformed, rising about 2.4% against the dollar for its best week since July. Gains were driven by expectations that the Bank of Japan may raise its benchmark rate by a quarter point this month and keep the door open to faster hikes thereafter.

Campbell’s said it is cutting 13% of its salaried workforce and closing two snack plants as it seeks to improve operations and return to profitability. The company’s snacks volumes fell 6%, and it has implemented average price increases of 4% to 5% across about 60% of its portfolio, with benefits expected to begin flowing through in the second quarter. Campbell’s plans to generate about $500 million in cost savings by fiscal 2030. It forecast fiscal 2027 net sales to decline 2% to 4% and adjusted earnings per share of $1.65 to $1.80, below analysts’ estimates of $1.86.