The briefing for Thursday, April 16.

A federal jury has found that Live Nation and its subsidiary Ticketmaster illegally operated a monopoly over large concert venues across the United States, overcharging customers by $1.72 per ticket. The verdict followed four days of deliberations in a trial that could reshape the live music industry. The jury's finding could force Live Nation to divest parts of its business or potentially split from Ticketmaster entirely, an outcome former Attorney General Merrick Garland sought when filing the lawsuit in May 2024.

The case was initially led by the federal government under President Biden, but the Trump administration withdrew from the lawsuit shortly before trial, reaching a separate $280 million settlement. However, more than 30 state attorneys general continued pursuing the case. California Attorney General Rob Bonta called the verdict a demonstration of "how far states can go to protect our residents from big corporations that are using their power to illegally raise prices and rip off Americans." The settlement faced bipartisan criticism, with Democratic senators urging the judge to scrutinize it closely as it does not separate Ticketmaster from Live Nation.

The verdict brings potential financial penalties that could cost Live Nation hundreds of millions of dollars based on the $1.72 per-ticket overcharge finding. The next phase will determine remedies, which could include forcing the company to sell off venues. Live Nation, which owns or controls hundreds of venues and operates the world's largest ticket-seller, has maintained throughout the trial that it is not a monopoly and "competes fiercely" with rivals. Public pressure on the company intensified after the 2022 Taylor Swift Eras Tour ticket sale debacle overwhelmed Ticketmaster's system, forcing an apology during a Senate hearing.

President Trump has threatened to fire Federal Reserve Chair Jerome Powell if he remains in his position after his term expires on May 15. Powell has stated he plans to stay on temporarily until his successor, Kevin Warsh, is confirmed by the Senate, citing legal precedent for chairs remaining during confirmation transitions. "Then I'll have to fire him," Trump told Fox Business, adding that he has "held back firing him" but "wanted to fire him." If carried out, this would mark the first time a Federal Reserve chair has been fired and represent a major break with precedent regarding central bank independence.

The succession has become complicated by Republican Senator Thom Tillis, who threatened to block Warsh's confirmation unless a criminal investigation into Powell is dropped. The probe centers on a $2.5 billion Federal Reserve building renovation that Trump has criticized as wasteful. Senate Majority Leader John Thune said it would be "in everybody's best interest to wrap up the investigation," while Treasury Secretary Scott Bessent expressed optimism that Warsh would be confirmed before May 15. However, Trump stated he is not prepared to drop the investigation, saying "Don't you think we have to find out what happened there?"

The standoff reflects longstanding tensions between Trump and Powell over interest rate policy. Trump has repeatedly called for rate cuts and branded Powell a "knucklehead" doing a "lousy job." Last month, during a closed-door hearing, a top deputy from U.S. Attorney Jeanine Pirro's office conceded that investigators had not found evidence of a crime in their probe of the renovation project. Federal prosecutors made an unannounced visit this week to the Federal Reserve construction site but were turned away by contractors and referred to Fed attorneys.

Pakistan's army chief is meeting with Iranian officials in Tehran on Thursday in an effort to arrange a second round of negotiations between the United States and Iran after nearly seven weeks of war. Pakistan has emerged as a key mediator after hosting direct talks in Islamabad that helped narrow differences between the two sides. The White House indicated any further talks would likely take place in Islamabad, though no decision has been made on whether to resume negotiations. Regional officials told the AP that the U.S. and Iran have an "in principle agreement" to extend the current ceasefire to allow for more diplomacy.

The diplomatic push comes as the U.S. maintains its naval blockade of Iranian ports and Treasury Secretary Scott Bessent announced plans to ramp up economic pressure with new sanctions, calling it the "financial equivalent" of a bombing campaign. Three main sticking points remain from last weekend's failed direct talks: Iran's nuclear program, control of the Strait of Hormuz, and compensation for wartime damages. Iranian Foreign Ministry spokesman Esmail Baghaei said Iran is open to discussing uranium enrichment levels but maintains it "must be able to continue enrichment" based on its needs.

The conflict has killed at least 3,000 people in Iran, more than 2,100 in Lebanon, 23 in Israel, and more than a dozen in Gulf Arab states, with 13 U.S. service members also killed. Iran has curtailed maritime traffic through the Strait of Hormuz, through which a fifth of global oil transited in peacetime. Chinese Foreign Minister Wang Yi told his Iranian counterpart that the situation has reached "a critical juncture between war and peace." Meanwhile, Trump announced on Truth Social that Israeli and Lebanese leaders would speak to renew ceasefire efforts after their first direct talks in decades ended without a deal.

More than 1,400 buildings in southern Lebanon have been destroyed by Israeli forces since March 2, according to BBC Verify analysis of satellite imagery and verified videos. The findings represent only a snapshot of overall damage due to limited ground access and available imagery, with the true scale likely much higher. Israeli Defense Minister Israel Katz ordered forces on March 22 to "accelerate the destruction of Lebanese homes" near the border based on the "model in Gaza" as part of the campaign against Hezbollah. The systematic demolition of towns and villages may amount to a war crime, international law experts told BBC Verify.

Verified footage shows controlled demolitions in at least seven border towns and villages, with whole sections blown up simultaneously. The town of Taybeh, located about 4 kilometers from the border, has seen particularly intense demolitions, with satellite imagery showing more than 400 buildings leveled, including a mosque. In the village of Aita al-Shaab, more than 460 buildings have been demolished. Excavators and armored vehicles can be seen in satellite imagery of multiple locations. The IDF said it operates in accordance with the Law of Armed Conflict and does not allow destruction of property unless there is an "imperative military necessity," adding that Hezbollah has embedded military infrastructure within civilian areas.

The demolitions are part of Israel's plan for a "security zone" extending from the border to the Litani river, which would encompass about 10% of Lebanon's territory. More than 1.2 million people have been displaced across Lebanon, including 820,000 from the south, according to UN figures. Israeli authorities first ordered Lebanese civilians near the border to evacuate on March 2, later expanding the zone to those south of the Litani river and eventually to those south of the Zahrani river, 40 kilometers from the border. The IDF launched its ground operation on March 16 after Hezbollah launched rockets and drones into Israel in retaliation for the killing of Iran's supreme leader.

India will hold a three-day special parliamentary session beginning Thursday to consider a constitutional amendment reserving one-third of seats for women in parliament and state assemblies. The reform would raise female representation from the current 14% of 543 lower house MPs to roughly one-third, closer to global norms. However, the government has tied implementation to a controversial redraw of constituencies based on the 2011 census that could expand the lower house from 543 to approximately 850 seats. The amendment requires a two-thirds majority, which Prime Minister Narendra Modi's BJP government appears positioned to secure.

Opposition parties support the women's quota in principle but object to linking it with parliamentary expansion and rushing the vote during election season. "We support reserving 33% seats for women based on the current strength of parliament," said John Brittas, an MP from the Communist Party of India (Marxist). "We also want a further freeze on expanding overall seats in the parliament until population trends stabilize. We object to the haste in convening this session in the middle of an election season." India last redrew parliamentary seats in 1971 and has since paused the process, fearing imbalances due to varying fertility rates across states.

The population-based redistribution has alarmed southern states, which fear losing seats and influence despite stronger economies and lower population growth. The five southern states account for about 20% of India's 1.4 billion people but outperform the rest of the country in health, education, and economic indicators. Tamil Nadu Chief Minister M.K. Stalin staged a protest Wednesday, hoisting a black flag and burning a copy of the proposed bill, asking whether "punishment is being meted out to Tamil Nadu and the southern states for the crime of striving for India's growth." Modi defended the plan, saying parliament was poised to take one of the century's "most important decisions" with the quota having unanimous backing and intended implementation by 2029.

Taiwan Semiconductor Manufacturing Corp. reported a 58% jump in quarterly profit to a record $18.1 billion for the January-March period, driven by strong demand from the artificial intelligence boom. Revenue increased 8.4% from the previous quarter to $35.9 billion, exceeding analyst expectations. For the current April-June quarter, TSMC expects revenue to grow further to between $39 and $40.2 billion. CEO C.C. Wei told an earnings conference that "AI-related demand continues to be extremely robust" and the company maintains "high conviction in the multi-year AI megatrend."

The world's largest contract chipmaker, a key supplier for Apple and Nvidia, has been expanding chip fabrication plants in the U.S., Japan, and Taiwan, with focus on making more advanced 3-nanometer semiconductors used in smartphones and AI products. TSMC pledged huge investments including $165 billion in building plants in Arizona. The company said capital spending for the next three years will be "significantly higher" than the past three years as it ramps up capacity. TSMC raised its capital expenditure budget to $52 billion-$56 billion for this year from about $40 billion in 2025, and now expects spending toward the higher end of that range.

Despite strong results, TSMC warned of potential impacts from the Iran war, which has pushed up global supply chain costs and disrupted supplies of chemicals and gases essential for chipmaking, including helium. Chief Financial Officer Wendell Huang said rising costs stemming from the war could weigh on profitability, but the company has "prepared safety stock inventory on hand" including for helium and is not expecting "any near-term impact" on operations. The chipmaker's ability to maintain production amid geopolitical disruption remains critical given its dominance in advanced semiconductor manufacturing.