AI risks deepening inequality, says head of world’s largest SWF

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.

Swiss wealth manager Julius Baer has reported a $184 million writedown on its real estate loan book as part of efforts to manage provisions following a series of scandals. This move is seen as a significant setback in the company's turnaround plan aimed at restoring its reputation and financial stability.

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.

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.