1. Fed Chair Powell flags possible 50 basis point hike in May
Fed Chairman Jerome Powell on Thursday said the central bank is committed to raising rates “expeditiously” to bring down inflation.That could mean an interest rate hike of 50 basis points in May as prices rise at their fastest pace in more than 40 years. “It’s absolutely essential to restore price stability,” he added.

2. Ukraine recovery to cost upwards of US$600bn
Rebuilding Ukraine following Russia’s invasion will cost $600 billion, the nation’s prime minister said, calling on members of the International Monetary Fund to donate 10% of their reserve assets received from the institution to support the effort. In the short term, Ukraine needs $4 billion to $5 billion per month in funding, Denys Shmyhal said at a ministerial roundtable on Thursday.

3. Musk explores options for tender offer for Twitter
Elon Musk is exploring whether to commence a tender offer for Twitter, according to a new securities filing. The updated filing published Thursday says Musk has received commitments for $46.5 billion to help finance the potential deal. Musk has hinted at the offer in various tweets, including “___ is the Night”, in reference to the classic novel by F. Scott Fitzgerald.

4. Manchester United appoint Ajax boss Erik ten Hag as new manager
Manchester United, one of, if not, the richest and most historic clubs in world football has also been one of the most disappointing and lacklustre sides for the best part of a decade since the retirement of manager and club legend Sir Alex Ferguson in 2013. Man Utd are hoping their latest appointment of Dutch Manager Erik ten Hag can turn things around and resurrect the red devils to their glory days. The 52-year-old has signed a three-year deal with the option of a further 12 months. He told United’s website: “It is a great honour to be appointed manager of Manchester United and I am hugely excited by the challenge ahead.

“I know the history of this great club and the passion of the fans, and I am absolutely determined to develop a team capable of delivering the success they deserve."

5. ASX to drop after Fed Reserve rate announcement
ASX futures were down 65 points or 0.9% to 7497 near 6.55am AEST, with the AUD -1% to 73.74 US cents. On Wall St: Dow -1.1% S&P 500 -1.5% Nasdaq -2.1%. Brent crude +0.9% to $US107.75 a barrel. 2-year yield: US +0.10% (2.68%) Australia +0.05% (2.22%). 10-year yield: US +0.08% (2.91%) Australia -0.02% (3.08%).