The UK government announced plans to weaken the link between wholesale electricity prices and volatile gas markets to shield households from price shocks driven by the Middle East conflict. Ministers will offer voluntary long-term fixed-price deals — a Wholesale Contract for Difference (WCfD) — to older “legacy” renewable projects that currently earn subsidies on top of market prices; around 30% of Britain’s generation could be affected. The Treasury will raise the Electricity Generators Levy (EGL) on excess profits from 45% to 55% (effective from 1 July) to incentivise sign-up and to fund household support. Officials said the WCfD scheme will be launched later this year with an allocation process expected in 2027, and reforms could be in place within about a year following consultation. The package also includes planning-law changes to expand EV charging for homes without driveways and to make it easier for businesses to install solar. The government declined to give a firm estimate of consumer savings, though analysts and the UK Energy Research Centre have previously suggested fixed-price approaches could save billions if market prices remain high. Opposition parties and industry groups voiced mixed reactions, warning of added costs or market distortions.

Associated British Foods (ABF) said on April 21, 2026 that it will separate its Primark fashion chain from its food businesses in a demerger expected to complete by the end of 2027. Primark, trading from 486 stores across 19 markets with roughly £9.5 billion of annual revenue and more than 80,000 employees, will be listed separately in London; the food group — which includes Twinings, Ryvita, Ovaltine, Patak’s and major sugar and ingredients operations — generated about £9.8 billion of revenue and will keep the ABF name. The Weston family vehicle Wittington Investments will remain the majority owner of both companies. Management said one-off separation costs will be about £75 million and foresees lost synergies below £45 million. ABF reported weaker first-half results (adjusted operating profit around £691m, group revenues down ~2%) and warned the Middle East conflict could hurt consumer spending and input costs. The move aims to improve market understanding and valuation of the two businesses; on the day shares fell as investors digested the strategy and near-term trading headwinds.

Synchrony Financial reported stronger-than-expected first-quarter 2026 results on April 21, with net income of $805 million and diluted EPS of $2.27, beating analyst forecasts. The card lender said net interest income rose 4% to $4.6 billion as yields on loan receivables expanded, and purchase volume hit a record $43.0 billion. Period-end loan receivables were roughly flat at $100.1 billion while provisions for credit losses fell to $1.3 billion, helped by a 96-basis-point decline in net charge-offs to 5.42%. The company announced a new $6.5 billion share repurchase programme and plans a 13% increase in its quarterly common dividend to $0.34 beginning in Q3 (a $0.30 quarterly payout will be paid May 15 to holders of record May 5). Key capital and profitability metrics were solid — return on equity about 19.5% and CET1 reported at 12.7% — underlining Synchrony’s capacity to return cash while managing credit risk amid a mixed macro backdrop.

Indian equities rallied on April 21, 2026, with the BSE Sensex jumping roughly 600-700 points to trade around the 79,200 mark and the Nifty50 climbing above 24,500 (about 24,550), driven by strong banking and realty stocks as well as gains in Asian Paints, Adani Ports and Trent. Broader indices outperformed, with the Nifty MidCap and SmallCap up nearly 0.8% and 1.1% respectively. Sectoral leaders included realty, PSU banks and private banks, while pharma lagged. Corporate updates and earnings supported sentiment: Nestle India reported a 27% year-on-year rise in Q4 net profit, Nelco posted a quarter-on-quarter rebound and multiple companies — including HCLTech, Tata Elxsi and others — were due to report Q4 results. Market activity was also bolstered by IPO subscriptions with Citius Transnet InvIT and Mehul Telecom in their final subscription days, and Jio Financial allotments. Traders said hopes of US-Iran talks and a potential ceasefire reduced risk premia; the GIFT Nifty signalled a positive open. Oil prices eased on improving diplomatic prospects, while India’s VIX fell, reflecting reduced near-term volatility expectations.

OTTAWA, April 21, 2026 — Prime Minister Mark Carney on Tuesday reconstituted and renamed the government’s Canada-U.S. advisory body as the Advisory Committee on Canada‑U.S. Economic Relations, tapping a mix of former politicians, union leaders and senior corporate executives to help steer strategy ahead of the review of the Canada‑United States‑Mexico Agreement (CUSMA). The panel, to be chaired by Canada‑U.S. trade minister Dominic LeBlanc, will hold its first meeting on April 27. Members include former Conservative leader Erin O’Toole, ex‑Quebec premier Jean Charest, Ralph Goodale, Lisa Raitt and former Nunavut premier P.J. Akeeagok, alongside industry chiefs such as BMO’s Darryl White, CN’s Tracy Robinson, TC Energy’s François Poirier, Teck’s Jonathan Price, Nutrien’s Ken Seitz, Canfor’s Susan Yurkovich, Auto Parts Association head Flavio Volpe, Unifor president Lana Payne, and Canadian Chamber CEO Candace Laing. The government says the committee will provide “expertise and strategy” as Canada prepares for CUSMA talks amid U.S. tariffs and unresolved bilateral negotiating timelines, with U.S. officials indicating talks may not conclude by the July 1 review deadline. The move replaces the Trudeau-era body and shifts composition toward senior executives and sectoral representation.