MORNING NEWS

BMW said it approved another share buyback program. The German luxury-car maker on Tuesday said this third program has a volume of up to 2 billion euros, equivalent to $2.25 billion, and is scheduled to start this month.

Ryanair reported a decline in fiscal-year earnings that was in line with analysts’ expectations, as costs rose and average fares fell.

Ozempic maker Novo Nordisk pushed out its chief executive after losing ground in the anti-obesity drug market, which has caused a steep stock-price decline and impatience at the nonprofit foundation that controls the company.

Swiss Re increased its profit in the first quarter of 2025 despite the impact of the wildfires in California. The reinsurance group is confident with regard to its annual targets.

Cisco Systems raised its sales outlook after posting higher-than-expected profit and sales for its fiscal third quarter, fueled by continued demand for the company’s technologies.

Alcon Inc. released earnings for its first quarter that increased from the same period last year but missed the Street estimates.

Private equity manager Partners Group has agreed to take control of Singapore data center operator Digital Halo on behalf of its clients, with the stated aim of transforming it into a regional platform and increasing its capacity to 500 MW.

Officials from the U.S. and China wrapped up their weekend, high-stakes trade talks, with Beijing saying the two sides agreed to start a formal negotiation process and Washington touting progress toward a deal. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, who led the U.S. delegation, told reporters that substantial progress was made during the marathon discussions with their Chinese counterparts, led by Chinese Vice Premier He Lifeng.

Sonova met its own sales and profit targets in the past 2024/25 financial year. The shareholders of the Swiss hearing aid group are now to receive a higher dividend. There will also be a change of CEO. As Sonova reported on Friday together with the annual figures, CEO Arnd Kaldowski will step down from his position for personal reasons on September 30, 2025. Eric Bernard, former CEO of WS Audiology, will join Sonova on July 1, 2025 and take over the CEO position on October 1, 2025.

Uber Technologies swung to a first-quarter profit as riders ordered more trips on the digital taxi service, but missed Wall Street revenue estimates. The San Francisco ride-hailing and food-delivery app owner swung to a profit of $1.78 billion, or 83 cents a share, from a loss of $654 million, or 32 cents a share, a year earlier. Earnings surpassed the 81 cents a share targeted, on average, by analysts surveyed by FactSet. First-quarter revenue rose 17% to $11.53 billion, compared to the mean analyst estimate of $11.63 billion. The number of trips for the company whose name has become a verb rose 18% to 3 billion. In dollar terms, gross bookings rose 14% to $42.8 billion.