In corporate news:

In other news:

  • FDA approves extension of Wegovy (Novo Nordisk) indication for cardiovascular risk reduction.
  • 3M Company to finalize spin-off of medical devices subsidiary in early April.
  • Bayer works on a glyphosate substitute.
  • Lufthansa faces new strike threats, this time from cabin crew.
  • Allianz launches a share buyback program worth up to €1 billion.
  • Taiwan Semiconductor to recover $5 billion in subsidies for its US plant.
  • Dutch workers at semiconductor manufacturer NXP go on strike.
  • Elliott does not intend to bid for Currys.
  • Apple abandons plans to ban Epic in Europe after the Digital Markets Act comes into force.
  • JDE Peet's has appointed Luc Vandevelde (ex-Marks & Spencer, ex-Carrefour) as interim CEO, effective April 1.
  • Saudi Telecom emerges as the highest bidder for Altice Portugal.
  • Polymetal completes sale of Russian operations.
  • A2A acquires distribution networks in Lombardy from Enel for €1.2 bn.
  • Reddit hopes to raise $748m in its IPO, according to Bloomberg.
  • Boeing lost 2.1% in pre-market trading as Alaska Airlines announced on Saturday that it was cooperating with the US Department of Justice in an investigation into the Boeing 737 MAX, a fuselage part of which broke off in mid-flight in January. A Boeing 787-9 Dreamliner operated by Latam Airlines also encountered a "technical problem" in flight, injuring at least 50 people.
  • Delta Air Lines expects the delivery of BOEING 737 Max 10s, which it has ordered from the aircraft manufacturer, to be delayed potentially until 2027, Bloomberg reported on Sunday after an interview with the airline's CEO, Ed Bastian.
  • Nvidia's stock is down due to sell-offs in new technologies, particularly artificial intelligence. Its peers AMD and Broadcom also fell.
  • EQT will buy out its former Equitrans Midstream division in an all-stock transaction to create an integrated natural gas supplier valued at over $35 billion, the two groups announced on Monday. Midstream gains 8.2% in pre-market trading, while EQT drops 4.3%.
    Viatris - The US FDA has refused to approve Viatris and Mapi Pharma's monthly injection for the treatment of relapsing forms of multiple sclerosis (MS), the two companies announced on Monday.
  • Microsoft - The European Data Protection Supervisor (EDPS) ruled on Monday that the European Commission's use of the Microsoft 365 software suite had breached EU privacy rules. The watchdog also found that the European executive had not implemented sufficient measures concerning the transfer of personal data to countries outside the bloc.
  • Two leading Republican senators, Ted Cruz and John Thune, introduced a bill on Monday dubbed the "Spectrum Pipeline", which would see certain US government-owned frequencies auctioned off to accelerate the development of 5G wireless networks.
  • Tesla - Elon Musk, the carmaker's CEO, said on Monday that his artificial intelligence company xAI would this week open the source code for "Grok", a conversational robot likely to rival OpenAI's ChatGPT. Meanwhile, Tesla's "gigafactory" near Berlin, which has been without power since March 5 following a fire claimed by a far-left group, could be powered up again this Monday, announced the electricity company in charge of remedying the problem.
  • Comcast- Comcast subsidiary Universal Pictures dominated Sunday's Oscars, with Oppenheimer's triumph including two of the most prestigious statuettes, Best Picture and Best Director.