Business News

Eli Lilly's market share in India's weight-loss drug market dropped to 56% in March from 61% in February, while Novo Nordisk maintained its 25% share. The decline follows the launch of 26 generic brands of semaglutide by Indian drugmakers, which directly compete with Novo Nordisk's Ozempic and Wegovy.

Paul Roeder, recently appointed Senior EVP and Chief Communications Officer at The Walt Disney Company, has announced his leadership team in an internal memo. Key appointments include April Carretta, promoted to EVP, Communications, who will lead communications for Direct-to-Consumer and serve as the day-to-day communications lead for Dana Walden, Disney's new President and Chief Creative Officer.

In the first quarter of the year, the European Union purchased 97% of liquefied natural gas from Novatek's Yamal LNG facility, totaling 5 million tons, a 17% increase from previous periods. The EU acquired 69 out of 71 LNG cargoes shipped from the Yamal Peninsula, with 25 cargoes delivered in March alone, marking the highest monthly total for the quarter.

Taiwan Semiconductor Manufacturing Co. (TSMC) reported first-quarter revenue of 1.13 trillion new Taiwan dollars ($35.6 billion), marking a 35% year-on-year increase.

The spot price of dated Brent crude oil rose to $131.97 per barrel on Thursday, reflecting a 7% increase from the previous session but down from a record high of $144.42 earlier in the week. Energy analysts warn that despite a fragile ceasefire between the U.S.

Chinese independent refiners have begun purchasing Iranian crude at premiums of $1.50 to $2 per barrel above Brent crude prices, marking the first such activity in years. This shift follows the temporary lifting of U.S.

John Deere has agreed to a $99 million settlement in a class action lawsuit brought by farmers who claimed the company restricted access to repair materials for its equipment. The lawsuit accused John Deere of preventing farmers and independent mechanics from obtaining necessary resources for repairs.

Prime Minister Sanae Takaichi announced that Japan will release an additional 20 days' worth of oil reserves beginning in early May 2023. This decision follows the country's initial release of reserves in March 2023, aimed at stabilizing oil prices affected by the ongoing conflict in the Middle East.

Iran recently attacked Saudi Arabia's East-West pipeline, reducing its throughput by 700,000 barrels per day. Additionally, assaults on the Manifa and Khurais production facilities have cut the kingdom's oil output by 600,000 barrels per day.

Amazon CEO Andy Jassy announced in his annual letter that AWS's chip business could generate an annual run rate of approximately $50 billion if sold independently. Two major AWS customers have requested to purchase all Graviton instance capacity for 2026, which Amazon declined.