Chinese foreign ministry spokeswoman Mao Ning on Wednesday listed the efforts her country had made in recent weeks to deescalate the conflict at a regular briefing in Beijing, without directly addressing reports China helped convince Tehran to reach the truce.

“China has consistently advocated for a ceasefire and to resolve the conflict through political and diplomatic means, and to achieve long-term stability in the Gulf and Middle East region (West Asia),” she said, when asked about the detente. “China made its own efforts in this regard.”

Mao’s comments come hours after Iran and the US agreed to a two-week pause in hostilities mediated by Pakistan, and as talks begin for a more durable peace plan. That deal was announced shortly before Trump’s deadline expired threatening attacks on civilian infrastructure in Iran.

The NYT citing three unidentified Iranian officials, reported that Iran accepted the ceasefire proposal following intervention by China, which asked the Islamic Republic to show flexibility and defuse tensions.

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Since the conflict began, Chinese Foreign Minister Wang Yi had made 26 phone calls with relevant counterparts, while Beijing’s special envoy conducted shuttle diplomacy in the Gulf, Mao said.

Alphabet Inc.’s Class C shares (NASDAQ: GOOG) climbed more than 3% midday Wednesday, reaching $313.96, as investors cheered fresh signs of strength in the company’s artificial intelligence initiatives and cloud computing business amid a broader technology sector rebound.

The stock opened at approximately $317.81 and traded as high as $319.38 before settling near $313.96 by late morning, up $10.03 or 3.30% from the previous close of $303.93. Volume remained solid, reflecting renewed optimism ahead of the company’s first-quarter 2026 earnings, now scheduled for late April.

The move extended a volatile but ultimately positive stretch for the Google parent. After hitting an all-time high near $350 in early February, shares pulled back amid concerns over soaring capital expenditures for AI infrastructure. Wednesday’s gain helped recoup some of those losses and underscored Wall Street’s growing confidence that Alphabet’s heavy investments in AI will pay off through accelerated revenue growth, particularly in Google Cloud.

A key catalyst appeared to be Alphabet’s expanding partnership with Broadcom for custom AI chips and networking infrastructure. The collaboration is expected to bolster Google Cloud’s ability to meet surging enterprise demand for AI training and inference capabilities. Analysts noted that such deals signal Alphabet’s commitment to scaling its infrastructure efficiently while competing with rivals like Microsoft Azure and Amazon Web Services.

Google Cloud has emerged as a bright spot. Recent quarters showed the segment growing at rates exceeding 35-48% year-over-year, with a massive backlog reportedly reaching $240 billion. Enterprise adoption of Gemini-powered services and AI infrastructure contributed heavily to the momentum. The company has aggressively integrated its Gemini AI models across search, YouTube, Android and cloud offerings, with monthly active users for Gemini surpassing hundreds of millions.

Wednesday’s trading also reflected broader market sentiment favoring big-tech names with strong AI narratives. While some investors have worried about the “capex trap” — with Alphabet guiding for $175 billion to $185 billion in capital spending this year, nearly double 2025 levels — others view the outlays as necessary to secure long-term leadership in generative AI.

“Alphabet is doubling down on AI at exactly the right time,” one market strategist said. “The cloud backlog and Gemini adoption metrics suggest monetization is accelerating faster than many anticipated, even as costs rise.”

The rally came despite ongoing regulatory headwinds. Alphabet continues to navigate multiple antitrust cases in the United States and Europe, including challenges to its search dominance and ad technology business. Recent court rulings have been mixed, with some dismissals of publisher lawsuits but appeals expected in core monopoly cases. Investors appear to be pricing in that regulatory risks, while significant, will not derail the company’s core growth engines.

Alphabet’s search business, still the profit powerhouse, benefits from AI Overviews and Gemini enhancements that deliver faster, more conversational answers. YouTube continues to see engagement gains from AI-driven recommendations. These improvements help offset potential shifts in user behavior as AI agents evolve.

With Q1 2026 earnings approaching — currently slated around April 23-29 depending on final confirmation — analysts expect revenue growth near 15-18% and earnings per share around $2.60-$2.70. Focus will center on Google Cloud margins, AI product revenue details and any updates to full-year guidance. Management has signaled confidence that efficiency gains in models, including reported 78% reductions in certain query costs, will help balance heavy infrastructure spending.

Class C shares, which lack voting rights compared with Class A, often track closely with the more liquid GOOGL but appeal to certain institutional investors. The dual-class structure has long allowed founders to maintain control while accessing public capital.

Year-to-date, GOOG has shown modest performance after a stellar 2025 that saw gains exceeding 60-70% in some periods, driven by AI optimism and cloud acceleration. The stock remains well above its 52-week low near $145 but below the February peak. Analysts maintain a generally bullish consensus, with average price targets suggesting further upside toward $340-$367.

Institutional ownership remains high, with recent filings showing increases from major holders. Hedge funds and long-term investors appear to be accumulating on dips, betting that Alphabet’s scale in data, distribution through Android and YouTube, and talent pool position it favorably in the AI race.

Challenges persist. Rising energy costs for data centers, potential margin pressure from capex and competition from OpenAI, Anthropic and others require careful navigation. Waymo, Alphabet’s autonomous driving unit, continues to expand but remains a smaller contributor compared with core segments.

Broader market context aided the move. Technology stocks recovered some ground Wednesday as Treasury yields stabilized and investors rotated back into growth names. The Nasdaq Composite showed gains, with other AI-exposed names also advancing.

For retail investors, the intraday surge highlighted Alphabet’s volatility tied to AI news flow. Short interest remains relatively low, suggesting limited bearish bets despite recent pullbacks from highs.

Looking ahead, the April earnings call will likely provide the next major catalyst. Investors will scrutinize commentary on AI monetization timelines, cloud backlog conversion and any color on competitive positioning. Positive surprises on margins or user metrics could fuel further upside, while higher-than-expected capex might temper enthusiasm.

Alphabet has transformed significantly under CEO Sundar Pichai, evolving from a search advertising company into an AI-native conglomerate spanning cloud, hardware, autonomous vehicles and more. The company’s first-look deals and ecosystem advantages, including potential integrations with partners like Apple for certain AI features, provide structural tailwinds.

Yet execution remains key. History shows that heavy infrastructure bets can weigh on near-term profitability even as they lay groundwork for future dominance. Alphabet’s ability to maintain advertising pricing power while rolling out AI enhancements will be closely watched.

In the meantime, Wednesday’s 3.3% advance served as a reminder of the market’s appetite for proven tech leaders with clear AI roadmaps. As earnings season nears, Alphabet finds itself at a pivotal juncture: proving that massive spending today will translate into sustainable, high-margin growth tomorrow.

With a market capitalization still in the multi-trillion-dollar range, even modest percentage moves represent billions in value. The Class C shares’ performance Wednesday added to that total, rewarding shareholders who stayed the course through earlier volatility.

As the trading day continued, attention turned to whether the momentum would hold into the close or if profit-taking might emerge. Regardless, the session reinforced Alphabet’s central role in the ongoing artificial intelligence transformation of the global economy.

For investors, the message appeared clear: despite regulatory clouds and hefty investment bills, Alphabet’s fundamental strengths in search, cloud and AI keep it firmly in the conversation among the world’s most valuable and influential companies.

This article was written by

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. The Lead-Lag Report is provided by Lead-Lag Publishing, LLC. All opinions and views mentioned in this report constitute our judgments as of the date of writing and are subject to change at any time. The information provided herein is not intended to be used as the primary basis of investment decisions. Investors should consult their financial advisers prior to any investment decision.

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Pall Mall public realm project being separated from wider scheme

Delivery of an urban park in the middle of Liverpool’s first Grade A office building scheme for more than 15 years requires public-sector intervention to ensure it can be brought to life.

Almost £2.5m of developer cash from projects across the city centre is to be repurposed to help create a public realm as part of proposals for a new eight storey office development at Pall Mall.

A total of £2.47m of section 106 (S106) cash – derived from development projects – will be used for eligible works, including The Lawns, Terraced Gardens and Bixteth Walk. The total cost of the scheme is expected to top out at £60m.

It is being separated from the wider scheme after a full business case indicated that “market conditions, abnormal costs and viability constraints require public‐sector intervention.”

As a result, the public realm will be funded via S106 which the local authority said would make the overall project easier to achieve.

The council-owned site, which lies off Bixteth Street, was remediated in 2020 but has stood dormant ever since after plans for large office buildings and a hotel stalled. There are hopes work could get underway on site during the last three months of this year, with a view to completion in 2028.

The scheme is being brought forward by Kier Property Developments Ltd with the phase one green space open to the public but privately owned. Pall Mall is a long‐standing strategic regeneration site in the city’s commercial business district, bounded by Pall Mall, Bixteth Street and Exchange Station.

The wider masterplan will deliver up to 400,000 sq. ft of Grade A office space, hotel and supporting uses centred around new green public space.

Delivery is identified as a priority within the council’s Strategic Futures Programme and the Liverpool City Region’s Grade A office growth agenda. It would represent the first development of its kind in Liverpool for almost two decades.

The project has progressed to full business case which has confirmed that market conditions, abnormal costs and viability constraints require public‐sector intervention. As a result, delivery of the public realm will be achieved separately, which according to city council documents makes the project easier to achieve overall.

The central gardens would be accessible 24 hours a day and maintained by a management company. A planned maintenance regime will be implemented to ensure the public realm remains safe, attractive and well‐maintained, including routine landscaping, cleaning, lighting, repairs and renewal of materials as required.

This will be funded by service charge contributions. According to the local authority, this arrangement ensures no ongoing revenue liability for Liverpool Council and preserves unrestricted public access in perpetuity.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Flying is about to get more expensive for some travelers who check luggage, as two major U.S. carriers move to raise baggage fees amid rising costs across the airline industry.

Delta Air Lines and Southwest Airlines are both increasing their checked bag fees by $10, pushing the cost to $45 for a first bag and $55 for a second. Delta is also raising the fee for a third checked bag by $50, bringing the total cost to $200, the airline confirmed to FOX Business.

The changes apply to new bookings, with Delta’s updated fees taking effect Wednesday and Southwest’s on Thursday. 

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A Southwest Airlines Boeing 737 MAX 8 aircraft lands at Victorville Airport in Victorville, California, on March 26, 2019.  (Mike Blake/Reuters)

Delta said the increases will impact domestic routes and select short-haul international flights, marking its first domestic baggage fee hike in two years.

“These updates are part of Delta’s ongoing review of pricing across its business and reflect the impact of evolving global conditions and industry dynamics,” a spokesperson for Delta told FOX Business in an email.

ALASKA AIRLINES UNVEILS LIE-FLAT SUITES, UPGRADED PERKS IN NEW INTERNATIONAL BUSINESS CLASS

Passengers queue to check in at a Delta Air Lines counter at Benito Juarez International Airport in Mexico City, Mexico, on Nov. 13, 2025. (Paola Garcia/Reuters)

In a similar statement, Southwest said the decision comes after “an ongoing analysis of the business and against the evolving global backdrop.”

The fee hikes come as airlines grapple with rising operating costs, particularly jet fuel. 

Jet fuel prices have surged globally in recent months, climbing from roughly $85 to $90 per barrel in February to about $209 following disruptions linked to tensions in the Strait of Hormuz amid the Iran war, according to Reuters.

AIR CANADA CEO ANNOUNCES HIS RETIREMENT 1 WEEK AFTER DEADLY CRASH

Passengers wait in a TSA security checkpoint queue that stretches through Baltimore/Washington International Thurgood Marshall Airport (BWI) in Baltimore, Maryland, on March 29, 2026.  (Aaron Schwartz/Reuters)

In recent weeks, JetBlue and United Airlines have also announced increases to baggage fees.

“As we experience rising operating costs, we regularly evaluate how to manage those costs while keeping base fares competitive and continuing to invest in the experience our customers value,” JetBlue wrote in a statement to FOX Business.

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Southwest Airlines did not immediately respond to FOX Business’ request for comment.

FOX Business’ Eric Mack and Bonny Chu contributed to this report.

Former Daish’s Blackpool Hotel was acquired by father-and-son team

A prominent hotel on Blackpool’s North Shore promenade has a new name and a new look.

The former Daish’s Blackpool Hotel is a substantial property which was run by Daish’s Coach Holidays for a number of years.

But the family-owned UK company, which provides package holidays by coach to its own chain of hotels, sold it in November as part of a shake-up of its operations.

The new owner of the the 70-bed Blackpool hotel is a smaller enterprise led by father and son Declan Scully and his son Leo, who bought it for an undisclosed sum late last year.

Now the team has completed the all-new look, switching the old grey external walls and blue signage to a magnolia shade – and new name Hotel Santa Maria.

Declan said after taking over: “My son is handling the marketing side and I’ll be overseeing the hotel and trying to make people happy!

“There is tremendous loyalty to this hotel from customers, with people coming back and even trying to book the same room.

“Our idea is to bring TLC to the building and happiness to the guests and make sure they have a lovely stay and will want to come back.

“We have total confidence in the holiday sector in Blackpool, we think it’s flourishing and that’s why we’re here.”

Daish’s Blackpool Hotel had a staff of around 30 but shortly after the take over, Declan said he was not in a position to discuss the subject of employment contracts at that stage.

Last summer saw the creation of Blackpool Tourism, which now oversees and manages major town attractions, including Blackpool Tower, Sandcastle Waterpark, and Madame Tussauds, previously operated by Merlin Entertainments.

Formed by Blackpool Council , it aims to boost the local economy and reinvest profits into town services, and recently launched its new “Ultimate Ticket”, a pass offering entry to six major attractions for £65 – Pleasure Beach Resort (including unlimited rides), Sandcastle Waterpark, The Blackpool Tower Top, Tower Circus, Tower Dungeon, and Madame Tussauds. It is valid for 90 days after the first visit.

With a new name and new colour scheme, Hotel Santa Maria is ready for the new season.