- The European Central Bank is expected to cut interest rates this week, just ahead of the Federal Reserve’s meeting on Sept. 17-18. While euro zone inflation has fallen, with headline figures hitting a three-year low of 2.2% in August, core inflation remains higher at 2.8%, driven by rising services prices.
- Moderna shares fell over 6% after the company announced plans to cut $1.1 billion in costs and launch 10 new products by 2027. The drugmaker is also pausing or scrapping some products as it shifts focus following the decline of its Covid business.
- General Motors and Hyundai have agreed to explore collaboration to reduce costs and boost efficiency, focusing on vehicle production and electric and hydrogen technologies.
