Fed's COLLINS said as the labor market improves, monetary policy can focus on timely restoring price stability, particularly after five-and-a-half years of high inf.

Novo Nordisk's CEO said the company must do more to rebuild investor trust as flagship drugs including Ozempic and Wegovy face patent expiries in the US and Europe over the next decade. He warned that overpromising and under-delivering quickly erodes confidence and that investors want clarity on the company's next steps. Shares fell on Monday after an investor day disappointed with limited detail on the turnaround plan. Ozempic and Wegovy account for roughly three-quarters of sales. Novo Nordisk has pledged to launch more than five major drugs by 2030 and to add over $23 bln in incremental sales by 2035; analysts say those targets largely meet expectations. BMO Capital Markets said the company remains in a proof-of-performance phase and investors need clearer visibility on next-generation drugs and likely market uptake to restore confidence.

Kallas, the EU High Representative for Foreign Affairs and Security Policy, met Iran’s foreign minister Araghchi during the UN General Assembly to discuss prospects for ending U.S.-Iran hostilities via diplomacy and fully reopening the Strait of Hormuz. She said transit through the strait never carried passage fees before the war and should not be charged after it ends.