Reuters

(Reuters) - Nvidia became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft, as its chips continue to play a central role in a race to dominate the market for artificial intelligence.

Shares of the chipmaker climbed 3.2% to $135.21, lifting its market capitalization to $3.326 trillion, just days after overtaking iPhone maker Apple AAPL.O to become the second most valuable company. The stock has surged about 173% so far... (continue reading...)

By Oliver Hirt

ZURICH (Reuters) - Swiss regulatory concerns scuppered talks between private banks Julius Baer and EFG International over a potential tie-up worth some 15 billion Swiss francs ($17 billion), two sources with knowledge of the matter told Reuters.

The two banks held talks in early 2024 and reached an agreement in principle, the sources said on Tuesday, speaking on condition of anonymity because of the sensitivity of the... (continue reading...)

By Lindsay Dunsmuir

(Reuters) - The U.S. central bank should only start to cut interest rates after "months, and more likely quarters" of falling inflation, moderating demand and expanding supply, St. Louis Federal Reserve President Alberto Musalem said on Tuesday, in his first public comments on monetary policy since becoming head of the regional Fed bank.

"I will need to observe a period of favorable inflation, moderating demand and... (continue reading...)

By Crispian Balmer

ROME (Reuters) - An ambitious overhaul of the Italian constitution to allow for the direct election of a prime minister won the Senate's approval on Tuesday, the start of what is likely to be an uncertain path to the statute books.

Prime Minister Giorgia Meloni has pushed hard for the change, calling it "the mother of all reforms", but it faces determined resistance from opposition parties and will almost assuredly need... (continue reading...)

By Dan Burns and Ann Saphir

(Reuters) - Inflation is exhibiting encouraging signs of cooling, U.S. Federal Reserve Governor Adriana Kugler said on Tuesday, and although it is still too high, as long as economic conditions continue moving in "the right direction" it will be appropriate to cut interest rates later this year.

While more progress is required on moving inflation back to the Fed's 2% target, "I believe economic conditions are... (continue reading...)