Five Things You Need to Know to Start Your Day
Samsung Electronics Co. Galaxy S9 and S9+ smartphones are displayed during the company’s media event in San Francisco, California, U.S. (Photographer: David Paul Morris/Bloomberg)

Five Things You Need to Know to Start Your Day

(Bloomberg) --

Oil market surges after Trump’s move to cut Iran’s crude exports, Samsung pulls its folding phone and Sri Lanka lays the blame for an Easter Sunday attack on local terror group. Here are some of this morning’s key stories.  

Iran Scrambles to Contain Sanctions Fallout 

Iran said it’s holding “intensive” talks with partners in the region and beyond to contain fallout from the Trump administration decision not to renew waivers that let countries buy its oil without facing sanctions. Crude prices in London hit their highest in half a year after Trump surprised investors by announcing the end of the program. 

Samsung Delays Launch of Galaxy Fold 

Samsung Electronics Co. will delay the launch of its first foldable smartphone after reports of screen failures among some review units, a setback for the world’s biggest handset maker. The company said Monday that it would postpone the retail launch of the Galaxy Fold, without giving a new debut date. Several media organizations reported a bevy of problems with test versions of the $1,980 device after only days of use. Samsung had said it would thoroughly investigate the issue.

Stocks Mixed, Oil Surges 

Asian stocks are set for a mixed open after U.S. benchmarks drifted into the close. The S&P 500 eked out a gain amid light volume as investors prepared for a deluge of earnings news. Oil jumped after the White House said it would scrap the Iran waivers. Energy shares rallied alongside crude prices, while real-estate companies slumped after sales of previously owned U.S. homes eased more than forecast in March. The dollar was steady as 10-year Treasury yields inched up.

Sri Lanka Blames Local Group 

Sri Lanka’s government has blamed a local jihadist group, National Thowheed Jamath, for one of Asia’s deadliest terrorist attacks in years, and said other nations had shared intelligence ahead of the Easter Sunday massacre. The death toll rose to 290 in what officials said were coordinated suicide bombings at churches and luxury hotels. The assaults targeted foreign tourists and Christians, marking a shift from the violence that fueled a three-decade civil war on the Indian Ocean island.

Philippine Quake Kills at Least Eight 

A magnitude 6.3 earthquake struck the Philippines late Monday afternoon, killing at least eight people and prompting thousands to evacuate. The quake occurred 1 kilometer from Gutad, northwest of Manila. As many as 30 people are feared trapped in a supermarket in the same province, the disaster-risk monitoring agency said in a mobile-phone message. 

What we’ve been reading:

This is what caught our eye over the last 24 hours.

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