Julius Baer hit by $184mn loan writedown in blow to turnaround plan

Novo Nordisk's shares have significantly declined following the announcement that its Ozempic medication failed to slow the progression of Alzheimer's disease in two major clinical trials. This outcome represents a substantial setback for one of Europe's largest listed companies, which had high hopes for the drug's efficacy in treating this debilitating condition.

Former President Donald Trump is now facing significant political challenges due to rising prices, which are impacting public sentiment and his approval ratings. As affordability becomes a central issue, Trump must navigate the consequences of economic dissatisfaction among Americans.

Argentina is facing significant economic challenges, including high inflation and mounting debt, prompting discussions for a $20 billion bailout from the US, which has now been shelved in favor of a smaller loan arrangement. This decision reflects the country's ongoing struggle to stabilize its economy and regain investor confidence.

New York and California are experiencing a significant decline in attractiveness due to high costs, leading to a self-reinforcing exodus of businesses and workers from these states. This trend has been highlighted in a recent report by the Financial Times, indicating a troubling shift in the economic landscape of these major markets.

Moderna has become the most shorted stock in the S&P 500 as public interest in Covid-19 vaccinations declines, reflecting a significant downturn for the company since the pandemic's peak. The stock has recently hit a 52-week low of 23.04 USD, indicating a loss of investor confidence.

Nicolai Tangen, head of the world's largest sovereign wealth fund, has expressed concerns that unequal access to artificial intelligence (AI) could exacerbate societal divisions. He warns that the current landscape of AI technology may lead to a widening gap between those who can leverage these advancements and those who cannot.

Apple's latest release, the iPhone Air, has experienced disappointing early sales, as consumers appear to prioritize better value and performance over the device's slim design. This trend indicates a potential shift in consumer preferences within the smartphone market.

The Kremlin has devised a strategy to distance President Putin from the unpopular VAT tax increase, instructing state-controlled media to avoid linking him personally to the rise. This move comes amid growing discontent among the Russian populace regarding economic policies.