• Julius Bär is reportedly showing interest in acquiring its Swiss counterpart EFG International, as per Bloomberg.
  • UBS has dismissed the idea of hiring an external candidate to succeed Ermotti as CEO, according to the Financial Times.
  • The Swedish bank SBB (Samhällsbyggnadsbolaget) has established a $534 million joint venture with Castlelake to refinance its debt.
  • Adler Group, a German property leasing company, has reached a restructuring agreement with its bondholders.
  • The maker of Golden Goose sneakers is preparing to launch an IPO in Milan.
  • The Financial Times suggests that the US should reconsider its ban on the sale of offensive weapons to Saudi Arabia.
  • Glass Lewis, a shareholder advisory firm, has recommended that Tesla shareholders vote against Elon Musk's $56 billion compensation plan.
  • Airlines, hotels, and retailers express concern over being marginalized by changes to Google's search algorithms.
  • Families of the victims of the Uvalde school shooting are taking legal action against Meta, Microsoft, and a gun manufacturer.
  • Vanda Pharmaceuticals has turned down a revised takeover bid from Future Pak.
  • China's Premier Li Qiang has encouraged Samsung to expand its investments in China.
  • Apple sees a 0.5% increase in pre-market trading after Wedbush raised its target price to $275, citing potential in AI technology monetization and an improving business climate in China.
  • Nvidia faces a challenging start with its AI chip in the oversupplied Chinese market, leading the company to price its product competitively against Huawei's offerings.
  • Tesla has reportedly cut production of the Model Y at its Shanghai plant significantly since March. Industry data from CAAM indicates a year-on-year decrease in Model Y production for March and April.
  • Micron Technology has been ordered to pay $445 million in damages to Netlist following a patent infringement lawsuit.
  • KKR is poised to receive EU approval without conditions to purchase the fixed-line network of Telecom Italia (TIM), having agreed to uphold commercial agreements with TIM's competitors.
  • Workday experiences a 12.2% drop in pre-market trading as the company revises its fiscal 2025 subscription revenue forecast downward, now expecting between $7.70 to $7.73 billion, compared to the previous forecast and analyst estimates.
  • Ross Stores enjoys a 6.4% surge in pre-market trading, reporting first-quarter earnings per share of $1.46, which beats the consensus estimate.