Punjab Outlook

A global trade war kicked off by Trump and the ensuing market turmoil soured bankers’ predictions for a robust start to a blockbuster year for deals on Wall Street. First-quarter mergers and acquisitions volume rose 12.6% to $984.38 billion from year-ago period, Dealogic data compiled for Reuters showed.
SoftBank-owned chip tech provider Arm Holdings recently sought to acquire Alphawave, a UK-based supplier of semiconductor intellectual property, to secure a crucial technology that is crucial for building its own artificial-intelligence processors, according to three sources familiar with the matter.
Tesla’s sales in France and Sweden fell year-on-year for a third consecutive month in March, contributing to the lowest first-quarterly sales figures in the two countries since 2021 for Elon Musk’s electric car brand.
Britain handed Italian defense company Leonardo a $213 million contract extension to maintain the Royal Navy’s fleet of 54 Merlin helicopters, a deal which it said would help support 1,000 jobs across the country.
Shares of US drugmakers fell after reports that the Food and Drug Administration’s top vaccine official, Peter Marks, had been forced to resign. Listen to Global Health Editor Michele Gershberg on the Reuters World News podcast as she looks at why this FDA shakeup is rattling investors.
Drugmakers are lobbying Trump to phase in tariffs on imported pharmaceutical products in hopes of reducing the sting from the charges and to allow time to shift manufacturing, according to four sources familiar with the discussions.