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(Reuters) – UBS has appointed its Americas chief investment officer, Solita Marcelli, to succeed Bruno Marxer as head of global investment management, according to an internal memo seen by Reuters on Monday. Marcelli will take on the role, which will be expanded to now cover the Americas, APAC, Switzerland and EMEA, effective July 1. Marxer, who has decided to retire at the end of the first quarter of 2026, will continue in his role until … Read more…

(Reuters) – Lockheed Martin on Monday said the U.S. Army had awarded it a contract worth up to $4.94 billion to produce Precision Strike Missiles (PrSM). Defense companies are seeing a surge in weaponry demand, driven by conflicts across the globe. The Pentagon has been prioritizing purchases of the PrSM, which is to replace the Army Tactical Missile (ATACM). PrSM is Lockheed’s next-generation long-range precision strike missile, capable of neutralizing targets beyond 400 kilometers. Shares … Read more…

By Anjana Anil and Anushree Mukherjee (Reuters) – Gold prices soared to record levels above $3,100 per ounce in a rally marking one of the most significant upswings in the precious metal’s history, with psychological levels swept aside by a cocktail of factors – including worry about fallout from impending U.S. tariffs. Spot gold hit a record of $3,128.06 per ounce on Monday. Uncertainty surrounding U.S. President Donald Trump’s tariffs added extra heat to the … Read more…

(Reuters) – Social media platform X on Friday recovered after a short outage that impacted thousands of users in the U.S., according to outage tracking website Downdetector.com. The disruptions eased around 3:10 p.m. ET, according to Downdetector, which tracks outages by collating status reports from various sources. There were more than 53,000 incidents of people reporting issues with the Elon Musk-owned platform as of 2:46 p.m. ET. Downdetector’s numbers are based on user-submitted reports. The … Read more…

By Dawn Chmielewski, Katie Paul and Kane Wu (Reuters) – Private equity firm Blackstone is evaluating taking a small minority investment in TikTok’s U.S. operations, according to two people familiar with the matter. Blackstone is discussing joining ByteDance’s existing non-Chinese shareholders, led by Susquehanna International Group and General Atlantic, in a bid for TikTok’s U.S. business. The group has emerged as front-runners. Their proposal entails spinning off TikTok’s U.S. operations into a separate entity and … Read more…

(Reuters) -Walgreen will pay more than $2.85 million to settle whistleblower allegations that the pharmacy overbilled Medicaid programs in Georgia and Massachusetts for generic medications, the U.S. Department of Justice said on Thursday. The settlement partially resolves claims against the Walgreens Boots Alliance unit brought under the federal, Georgia and Massachusetts False Claims Act. Walgreen pharmacies were accused of having from 2008 to 2023 submitted elevated “usual and customary” prices for some generic medications to … Read more…