Business News from Friday, March 20th, 2026

The Trump administration has waived sanctions on the purchase of Iranian oil at sea for 30 days on Friday in its latest attempt to ease oil prices that have been driven up by the US-Israeli war on Iran.

A federal jury found Elon Musk liable on claims he defrauded Twitter shareholders by trying to drive down the social media company's stock price so he could renegotiate or back out of a $44 billion takeover in 2022, Bloomberg News reported on Friday.

In 2014, Amazon introduced its first smartphone, hoping to take on Apple and Samsung. Instead, the Fire Phone - overseen directly by founder Jeff Bezos - was scrapped in barely over a year, one of Amazon’s highest-profile flops.