Shares of Exelixis Inc. $EXEL advanced 8.8% in early trading following interim findings from the STELLAR-303 Phase 3 study, which investigated a dual-therapy regimen for metastatic colorectal cancer (mCRC). The investigational compound zanzalintinib, used alongside the PD-L1 inhibitor atezolizumab, demonstrated a statistically meaningful improvement in overall survival versus regorafenib, a current second-line therapy.
Stellantis N.V. $STLA has instructed UK owners of first-generation DS 3 and second-generation Citroën C3 vehicles, manufactured between 2009 and 2019, to stop driving their cars immediately. The directive follows renewed concerns over Takata airbag defects after a recent fatal incident in France.
Visa Inc. $V and Yellow Card Financial Inc. have formalized a strategic agreement aimed at accelerating the adoption of stablecoin-based solutions for cross-border transactions in developing regions. The partnership signals a deeper commitment from both companies to modernize international payment systems, particularly in Africa and other underbanked markets where Yellow Card operates as a licensed cryptocurrency exchange.
Mastercard Inc. $MA faces a substantial financial obligation following a UK court decision that found its interchange fees from 1992 to 2008 to be unreasonably high. The collective action, launched in 2016 by former Financial Ombudsman Walter Merricks, accused the payments company of charging fees that inflated retail prices nationwide. The court found that these charges were indirectly passed on to consumers, impacting not only Mastercard users but also those paying with other methods, including Visa $V.
Sun Pharmaceutical Industries Ltd. $SUNPHARMA.NS, India’s largest drugmaker, announced a significant reshuffle at the top level: Kirti Ganorkar, head of its domestic operations since 2019, will become Managing Director starting September 1. The move reflects a calculated succession strategy aimed at reinforcing leadership depth and operational resilience across its global network. Ganorkar’s elevation marks a pivotal shift from founder-centric management to institutional leadership, a transition increasingly common among large-cap Indian corporations navigating global expansion, regulatory complexities, and innovation pressure.
As Europe's IPO market continues to underperform relative to global peers, regional exchanges are intensifying competition to attract rare, high-profile listings. The selection of Stockholm as the destination for the upcoming IPO of Verisure, a security services provider backed by Hellman & Friedman, underscores this dynamic. With an estimated valuation of €20 billion (approx. $22.8 billion USD), the listing is expected to become one of the largest in recent European history. Verisure’s decision to list in Sweden reflects more than geographic convenience. The company's long-standing operational roots in the country and the robustness of the local institutional investor base played a decisive role. Stockholm's win over London $^FTSE, Amsterdam $^AEX , and Zurich (SMI) is emblematic of a broader shift in European capital markets, where domestic ties and investor familiarity can outweigh traditional financial center prestige.
BNP Paribas SA $BNP.PA, France’s largest listed bank, is launching a major overhaul of its domestic retail operations. CEO Jean-Laurent Bonnafé is spearheading a plan to reduce the physical branch footprint in response to long-term structural inefficiencies and the accelerated shift toward digital banking. The first wave of this transformation includes the closure of approximately 80 retail branches in 2025, followed by an additional 120 closures in 2026. Over the longer term, BNP aims to shrink its physical network significantly while strengthening its digital and remote banking capabilities.
Farm Rio, operated by Azzas 2154 SA $AZZA3.SA, known for its colorful prints favored by celebrities such as Justin Bieber and Beyoncé, is recalibrating its approach in the U.S. market. Selective price increases have been implemented as a direct response to mounting tariffs. This strategy seeks to soften the financial hit from U.S. trade barriers, while management is simultaneously curbing the volume of exports bound for North America.
Rheinmetall AG $RHM.DE is rapidly redefining its role within the European equity landscape. The company, recognized as a key supplier of military vehicles and ammunition, has demonstrated record-breaking share price growth amid heightened defense spending across Europe. As a result, Rheinmetall is set to enter the prestigious Euro Stoxx 50 benchmark on June 20, displacing Kering SA $KER.PA, the French luxury group best known for the Gucci brand.
Li Auto Inc. $LI has issued a second-quarter revenue forecast notably below market consensus, highlighting intensifying hurdles within the world’s largest automotive landscape. The company now anticipates Q2 sales between RMB 32.5 billion and RMB 33.8 billion (approximately USD 4.5–4.7 billion), undercutting the average analyst estimate of RMB 34.6 billion. This downward revision follows ongoing pricing battles and softer consumer demand, which continue to reshape the outlook for Chinese electric vehicle manufacturers.
Royal Enfield, owned by Eicher Motors Ltd. $EICHERMOT.NS, executed a significant boost in motorcycle exports to the United States in anticipation of new trade barriers. This move occurred shortly before former President Donald Trump’s announcement of a 25% tariff on imported vehicles and auto parts, highlighting the company’s agility in navigating shifting global trade policies. By supplying approximately 9,000 motorcycles—well above its average annual shipment of 6,000 units to North America—Royal Enfield aimed to fortify dealer inventories and sustain competitive pricing for American customers.
DNB Bank ASA $DNBBY, Norway’s largest lender, has finalized the sale of its stake in Holberg Fondsforvaltning to Kistefos AS, the investment firm owned by Norwegian billionaire Christen Sveaas. The specific terms and valuation remain confidential. Set for completion in the third quarter, this transition is contingent on standard regulatory clearance.