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WASHINGTON (Reuters) – Former U.S. Treasury Secretary Janet Yellen said on Monday she was concerned that President Donald Trump’s tariffs and other policies were eroding allies’ trust in U.S. commitments, and that some investors were starting to shun U.S. assets. Yellen told CNBC television that last week’s surge in yields on U.S. Treasury debt, which …

Yellen says Trump policies eroding trust in US, dollar assets Read More »

By Zaheer Kachwala (Reuters) -Apple took the top spot for global smartphone sales in the first quarter on the back of the iPhone 16e’s launch and strong demand in countries such as Japan and India, data from Counterpoint Research showed on Monday. Apple had 19% of the smartphone market, despite flat or declining sales in …

Apple takes top spot for first-quarter smartphone sales, data shows Read More »

By Oliver Hirt ZURICH (Reuters) -Swiss generic drug manufacturer Sandoz said on Monday it had filed an antitrust lawsuit in the United States against Amgen over the alleged entrenchment of the market position of its blockbuster medicine, Enbrel (etanercept). Sandoz alleges Amgen blocked competition from more cost-effective biosimilar competitors, including Sandoz etanercept biosimilar, Erelzi, by …

Sandoz files U.S. antitrust lawsuit against Amgen over arthritis drug Read More »

By Akash Sriram and Arsheeya Bajwa (Reuters) – Nvidia said it is planning to build AI servers worth as much as $500 billion in the U.S. over the next four years with help from partners such as TSMC, the latest American tech firm to back the Trump administration’s push for local manufacturing. Monday’s announcement includes …

Nvidia to produce AI servers worth up to $500 billion in US over four years Read More »

By Promit Mukherjee OTTAWA (Reuters) – The Bank of Canada is likely to pause its rate-cutting cycle this week as rising inflation, weakened employment and U.S. President Donald Trump’s retreat from sweeping reciprocal tariffs have reduced the urgency of economic stimulus. Odds for a pause in interest rates were around 58% as of Friday, currency …

Bank of Canada is more likely to halt interest rate cuts after tariff pause Read More »

By Jaiveer Shekhawat -BNY beat analyst expectation for the first-quarter profit on Friday, benefiting from growth in assets under custody which led to stronger fee-based revenue streams. The bank’s fees, typically calculated as a percentage of assets under custody, benefited from the acquisition of new clients and heightened market volatility that led to investors aggressively …

BNY beats Q1 profit estimates to kick-off 2025, helped by jump in assets under custody Read More »

By Timour Azhari, Suleiman Al-Khalidi and Pesha Magid BEIRUT/AMMAN (Reuters) -Saudi Arabia plans to pay off Syria’s debts to the World Bank, three people familiar with the matter said, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country’s paralysed public sector. The plans, which have …

Saudi Arabia plans to pay off Syria’s World Bank debts, sources say Read More »