Anthropic's IPO papers, seen by Reuters: sales up 12-fold to $4.6bn, a $42bn loss, and seven founders who will keep 50.1% of the votes

The stories

26 on this beat today.

Every story told the same way: what happened, who is involved, why it matters, how it works, the truth and the good news.

1. 01

   Anthropic's IPO papers, seen by Reuters: sales up 12-fold to $4.6bn, a $42bn loss, and seven founders who will keep 50.1% of the votes

   $4.6bn

   of sales for Anthropic in 2025, 12 times the year before

   Two customers brought in nearly a quarter of it. [1]

   $7.33bn of $12.65bn

   of Anthropic's 2025 costs went on computing power

   That was three times what it spent on computing in 2024. [1]

   50.1%

   of the votes on key matters, through one share directed by seven co-founders

   Each share sold to the public will carry one vote. [2]

   $2tn+

   is what the listing could value Anthropic at

   That is more than double May's estimate of $965 billion. SpaceX listed at $1.77 trillion in June. [1]

   What happened

   • Anthropic, the AI company that makes Claude, lost $42 billion in 2025, according to papers for its first sale of shares to the public, which Reuters has seen. [1]
   • Anthropic declined to comment. [1][2]
   • About $34 billion of that loss is an accounting charge: a rise in the estimated value of funding that could later turn into shares. [1]
   • It is not cash that Anthropic paid out. [1]
   • Its sales grew 12-fold in 2025, to nearly $4.6 billion. [1]
   • Its day-to-day loss widened to $8.06 billion, from $2.98 billion in 2024. [1]
   • It spent $7.33 billion on computing power and data centres, three times the year before and more than half of its $12.65 billion of costs. [1]
   • The papers list plans to spend $518 billion on cloud, computing and other infrastructure commitments. [1]
   • Nearly a quarter of its sales came from two customers, and it warns that many big customers are not tied to long contracts and could stop spending. [1]
   • The listing could value Anthropic at more than $2 trillion, more than double its estimated value of $965 billion in May. [1]
   • Its seven co-founders, including chief executive Dario Amodei, will form a 'Founder LLC'. [2]
   • A majority of them will direct one special share that carries 50.1% of the votes on key matters, such as electing some directors. [2]
   • Shares sold to the public will carry one vote each, and the filing warns that the way the company is run may lead to decisions that lower their value. [2]
   • Anthropic will stay a public benefit corporation, a legal form that lets its leaders weigh the interests of the rest of humanity against those of investors. [2]
   • About 80 of the prospectus's 261 main pages set out risks, nearly twice the 48 pages about what the company does and sells. [3]
   • Among them, it warns that advanced AI could pose 'catastrophic or existential risks to humanity', and that its models could try to resist being shut down. [3]

   • Accounting charge$34bn · 81%
   • Day-to-day loss$8bn · 19%

   Who is involved

   • Anthropic an AI company founded five years ago that makes the Claude AI; it is preparing to sell shares to the public
   • Dario and Daniela Amodei brother and sister, Anthropic's chief executive and its president; the filing says they were paid about $18 million and $16.4 million in 2025
   • The Long-Term Benefit Trust an oversight body whose trustees include Ben Bernanke, a former head of the US central bank; it will elect four of Anthropic's directors
   • Amazon and Google early backers of Anthropic; they invested billions and also rent it the computers it runs on
   • OpenAI Anthropic's main rival, the maker of ChatGPT; it filed privately for its own listing in June

   How it unfolded

   1. 2020 Anthropic's founders leave OpenAI [2]
   2. May Anthropic's value is estimated at $965 billion [1]
   3. 12 June SpaceX lists its shares at a $1.77 trillion value [1]
   4. Last week Anthropic releases a new Opus model, ten days after Amodei called for slowing the pace of new AI [3]
   5. 28 September Reuters reports what is in Anthropic's share-sale papers [1][2]
   6. After November The listing is expected, after the US midterm elections [1]

   Why it matters

   Watch for the papers to be made public: they will show whether Reuters' figures hold, and when the $518 billion falls due, before anyone is asked to buy a share. [1]

   The truth

   • What is really going on Anthropic spent $7.33 billion on computing in 2025, more than the $4.6 billion its customers paid it, Reuters reports from its share-sale papers. [1]If Anthropic lists, the public can buy into the lab directly, but its seven founders will keep 50.1% of the votes. [2]
   • Why it works on people A loss of $42 billion or a value of $2 trillion is too big to picture, so the headline number sticks, though most of that loss was an accounting charge, not cash spent. [1]
   • Who gains Anthropic's seven co-founders — One share they direct will carry 50.1% of the votes on key matters, and it only starts to lapse once two or fewer of them remain. [2]
   • Who pays Future buyers of Anthropic shares — Their shares would carry one vote each while the founders keep 50.1%, and nearly a quarter of sales come from two customers. [2][1]
   • Nobody knows yet

     What Anthropic's papers will say once they are public.

     Reuters has seen the prospectus, but it has not been published, and Anthropic declined to comment. [1]

   • Nobody knows yet

     Over how many years the $518 billion of computing commitments falls due.

     The report gives the total, not the timetable. [1]

   • Nobody knows yet

     How much Anthropic spends on safety work.

     The filing does not say, and returns on it are unclear, Anthropic writes; it said about 6% of its research computing went to safety in one sample week in July. [3]

1. 02

   Nvidia sets a record $150bn buyback

   What happened

   • Nvidia, whose chips power much of the AI boom, said on Monday it would spend another $150 billion buying back its own shares. [16][7]
   • That lifts the total it is allowed to spend to $235 billion, which it plans to use by January 2028. [16][7]
   • The old record for one buyback plan was Apple's $110 billion, set in 2024. [17]
   • Nvidia made a profit of $59.69 billion in its last quarter alone. [7]
   • Its shares rose about 2% on a day when most chip shares fell. [7][6]

   Apple, 2024$110bn

   Nvidia, Monday$150bn

   Why it matters

   When a company buys back shares, there are fewer left, so each one owns a bigger slice of the profit. [7]

   Critics say the same money could have paid for hiring or research. [16]

   How it works

   In a building rush, the sellers of the tools are paid first

   AI labs pay for chips and computing now and hope customers pay them later, so the chip makers take their profit first.

   The twist

   A chip maker like Nvidia is paid the day it delivers a chip. An AI lab like Anthropic gets back what it spent on computing only if customers keep paying it for years.

   The picture

   $4.6bnAnthropic's sales, 2025

   vsvs

   $7.33bnIts computing bill, 2025

   Step by step

   1. 1 Investors give AI labs billions to build their models
   2. 2 The labs spend it on chips and data centres before most customers arrive
   3. 3 That spending is sales, today, for the chip and cloud companies
   4. 4 The sellers book the profit and hand cash back to their own shareholders
   5. 5 The labs get their money back only if customers keep paying for years

   The same force, elsewhere today

   Where this chain is also running, in today's other stories.

   • Nvidia sets a record $150bn buyback

     The chip seller has already been paid, with a $59.69 billion profit in one quarter, and is handing the cash back to its own shareholders.

   • Wall Street falls as the 10-year rate hits a 2007 high

     When OpenAI paused training its newest models, makers of AI equipment such as Lumentum and Corning fell, because their sales depend on the labs still spending.

   • AMD buys World Labs for $8.2bn in shares

     World Labs trained its models on AMD's chips, and AMD, now worth close to $1 trillion, is paying for it with its own shares.

   Where you've seen this

   The California gold rush

   shops selling shovels, tents and trousers to miners were paid on every sale, while most miners found little gold

   Britain's railway boom of the 1840s

   iron works and builders were paid as the lines were laid, while many railway shareholders lost money when the boom ended

   A housing boom

   builders and estate agents are paid when a home is sold, and the buyer carries the risk that prices fall later

   The catch

   The sellers are safe only while the buyers keep spending. On Monday, when OpenAI paused training, shares in makers of AI equipment fell within hours.

   And the whole of it

   Many people with a pension already own a little of Nvidia, through funds that track the US stock market. If Anthropic lists, those funds may buy it too. Few savers ever see how much of either they hold.

   The truth

   • What is really going on The companies that sell AI computing are already collecting: Nvidia made a $59.69 billion profit in one quarter and is handing $150 billion back to its shareholders. [7]
   • Who gains Nvidia's shareholders — Nvidia will spend up to $235 billion buying back shares by January 2028, so each remaining share owns a bigger slice of the profit. [16][7]

1. 03

   Wall Street falls as the 10-year rate hits a 2007 high

   What happened

   • US shares fell on Monday. [18]
   • The Dow Jones index of 30 big companies lost 0.67%, and the tech-heavy Nasdaq lost 0.92%. [18]
   • The yearly interest on the US government's 10-year bond reached 5.27%, its highest since 2007. [4]
   • Traders now see a 70% chance that the US central bank raises rates again in late October, up from 56% a week before. [4]
   • Makers of AI equipment such as Lumentum and Corning fell after OpenAI paused training its newest models. [6]

   Why it matters

   The 10-year rate is the base for mortgages and company loans, so when it rises, borrowing costs more for households and firms. [4]

   The US jobs report on Friday is the next big test for rates. [19]

   How it works

   When OpenAI paused training its newest models, makers of AI equipment such as Lumentum and Corning fell, because their sales depend on the labs still spending.

   The idea, in story 02: In a building rush, the sellers of the tools are paid first →

   The truth

   • Who pays People and companies borrowing in the US — The 10-year rate, which mortgage and loan costs follow, reached 5.27%, the highest since 2007. [4]
   • Nobody knows yet

     Whether the US central bank raises rates again in late October.

     Traders put the chance at 70%, up from 56% a week earlier, and Friday's jobs report can move it. [4][19]

2. 04

   Oil rises again as Gulf exports recover

   What happened

   • Brent crude, the main world oil price, rose 0.6% to $105.91 a barrel early on Tuesday, its second day of gains. [10]
   • On Monday it had jumped 2.65% to $107.08, after President Trump turned down Iran's plan to reopen the Strait of Hormuz, the sea lane most Gulf oil must pass. [4]
   • Yet oil exports from the big Middle East producers rose to 12.8 million barrels a day in September, the most since February, Kpler data show. [10]

   Why it matters

   An analyst at KCM Trade said much of that oil leaves by ship-to-ship transfers, which cost more than normal loading, so the price stays high. [10]

   He said hope of a US-Iran deal is what keeps Brent below $110. [10]

   Good news

   • Oil exports from the big Middle East producers reached 12.8 million barrels a day in September, the most since February, early figures from Kpler show.
3. 05

   MongoDB loses its boss to Meta

   What happened

   • Meta, the owner of Facebook and Instagram, hired CJ Desai, the chief executive of MongoDB, on Monday. [9][20]
   • MongoDB makes database software that businesses use to store and search their data. [20]
   • Desai had run it for less than a year, and his predecessor, Dev Ittycheria, is back as interim boss. [9][20]
   • MongoDB's shares fell about 18%, on course for their worst day in nearly seven months. [9][21]
   • Desai will run a new Meta unit that sells its AI assistants and coding tools to businesses. [9][20]

   Why it matters

   MongoDB's shares had already lost nearly a quarter of their value this year. [9]

   Meta's own shares fell about 4% on Monday, after rising 13% the week before on its Muse assistant. [9][22]

   The truth

   • Who pays MongoDB's shareholders — Their company lost its chief executive to Meta after less than a year, and the shares fell about 18% in a day. [9]
4. 06

   AMD buys World Labs for $8.2bn in shares

   What happened

   • AMD, a maker of computer chips, agreed on Monday to buy World Labs, an AI start-up, for about $8.2 billion. [8][23]
   • AMD will pay in its own shares, not cash. [8][23]
   • World Labs, founded in 2023, builds AI that can create and move through 3D worlds, for uses such as robots. [8][23]
   • Its co-founder Fei-Fei Li, a leading AI researcher, becomes AMD's chief scientist. [8]
   • World Labs had trained its models on AMD's chips. [23]

   Why it matters

   AMD, worth close to $1 trillion, is trying to catch up with Nvidia, its much larger rival, which already builds this kind of AI. [23]

   The deal is expected to close by the end of the year. [8][23]

   How it works

   World Labs trained its models on AMD's chips, and AMD, now worth close to $1 trillion, is paying for it with its own shares.

   The idea, in story 02: In a building rush, the sellers of the tools are paid first →
5. 07

   Indian shares fall to a six-month low

   What happened

   • India's Nifty 50 index of big companies fell 1.56% on Monday to 22,780, and the Sensex index fell 1,124 points. [5][18]
   • During the day the Nifty went below 22,900 for the first time since 7 April. [24]
   • Every group of shares fell, led by state-owned banks, which lost more than 3% on fears of higher interest rates. [5][24]
   • Foreign investors sold 5,353 crore rupees of shares, about 53.5 billion, their third day of selling in a row. [18][25]

   Why it matters

   The rupee weakened to 96.03 to the US dollar, and traders blamed oil above $106 and high US interest rates. [25][18]

   Indian funds bought 5,189 crore rupees of shares, almost as much as foreigners sold. [18]

6. 08

   A $15bn steel mill is planned for Iowa

   What happened

   • President Trump announced on Monday a plan by Mesabi Metallics to build a $15 billion steel mill in Iowa. [15][26]
   • Mesabi is owned by Essar Group, an Indian industrial company, and has just opened an iron ore mine in Minnesota. [26][27]
   • The Trump administration says the mill will start making steel in 2030 and grow to 10 million tons a year, more than any other US plant. [27][26]
   • Trump has put a 50% tax on imported steel, which keeps US steel prices high. [27][26]

   Why it matters

   Trump administration officials say it will bring up to 6,000 building jobs and at least 1,750 lasting ones. [15]

   It came weeks before November's midterm elections, in which Iowa's races for governor and for the US Senate are close. [27][28]

   The truth

   • Who gains Mesabi Metallics and its owner, Essar Group — President Trump announced their $15 billion mill in the Oval Office, and a 50% US tax on imported steel keeps the price they can charge high. [15][27][26]
   • Nobody knows yet

     How many jobs the Iowa steel mill will bring.

     Trump administration officials told CNBC up to 6,000 building jobs and at least 1,750 lasting ones, and told AP more than 2,000 jobs. [15][27]

7. 09

   Gold has its worst day in a month

   What happened

   • Gold fell about 3% on Monday. [6]
   • By midday in London it was $4,159 an ounce, down from $4,283 on Friday. [13]
   • It steadied on Tuesday, near its lowest level in more than seven weeks. [25]
   • Gold pays no interest, so it loses buyers when bonds pay more, and the US 10-year bond now pays over 5.2%. [6]
   • The gold miner Newmont fell more than 4%, and Fresnillo lost 6.4% in London. [6][13]

   Why it matters

   Silver fell almost 5%, and mining companies were the five worst performers among London's 100 biggest shares. [13]

   The truth

   • Who gains Oil companies such as Exxon and Chevron — Their shares rose about 1% on Monday as US oil stayed near $93 a barrel, while most shares fell. [6]
8. 10

   UK diesel costs a record 199p a litre

   What happened

   • Diesel in the UK cost an average of 199.18p a litre on Monday, the highest ever, according to the RAC, a motoring group. [11][13]
   • It beat the record set after Russia invaded Ukraine in 2022. [11]
   • Diesel is 56.8p dearer than on 28 February, when the US-Iran war began. [11]
   • Ukraine's drone attacks on Russian refineries have cut Russia's diesel exports, and Iran's blockade of Hormuz has limited fuel supplies. [11]
   • Petrol averages 174.13p. [11]

   142.38pDiesel, 28 February

   vsvs

   199.18pDiesel, 28 September

   Why it matters

   The RAC called it a financial blow to households and businesses that use their vehicles regularly. [11]

   The truth

   • Who pays UK drivers and firms that run diesel vans — Diesel costs a record 199.18p a litre, 56.8p more than when the US-Iran war began. [11]
9. 11

   Britain's home-buyer loan lifts builders

   What happened

   • The UK government unveiled Your First Home on Monday, a plan for first-time buyers of new homes in England. [13]
   • Buyers can put down a deposit of as little as 2.5%. [13]
   • Britain's government lends up to 20% of the price, at first without interest. [13]
   • Shares in housebuilders jumped: Persimmon rose 15%, Taylor Wimpey 13% and Barratt Redrow 12%. [13]
   • Its cost and timetable are expected in the Budget on 28 October. [13]

   • Buyer's deposit2.5%
   • Government loan20%
   • The rest77.5%

   Why it matters

   Berenberg, a bank, said the small deposit and the 20% loan could make a very big difference to what buyers can afford. [13]

   Makers of kitchens and bricks rose too: Howden 5.9% and Ibstock 21%. [13]

   The truth

   • Who gains Housebuilders such as Persimmon and Barratt Redrow — A government loan of up to 20% lets buyers of their new homes put down as little as 2.5%, and their shares rose 12% to 15%. [13]

   Good news

   • Britain will lend first-time buyers of new homes in England up to 20% of the price, at first without interest, so a deposit can be as small as 2.5%.
10. 12

    Qatar's gas to Italy stays cut until December

    What happened

    • QatarEnergy, Qatar's state gas company, will not ship liquefied natural gas to Italy's Edison until the start of December, Edison said on Monday. [12]
    • Liquefied gas is gas cooled into a liquid so it can travel by ship.
    • Qatar cancelled six more cargoes, making 35 undelivered since April. [12]
    • Qatar shipped just 18 cargoes of it by the end of August, against 509 in the same months last year, ICIS data show. [12]
    • A few Qatar-linked gas tankers did cross the Strait of Hormuz this month. [29]

    509Qatar LNG cargoes, 2025

    vsvs

    18Same months, 2026

    Why it matters

    Edison's Qatar contract covers about a tenth of Italy's gas, and the heating season starts in days. [12]

    Edison has replaced 23 of the missing cargoes, mostly from US suppliers. [12]

    The truth

    • Nobody knows yet

      When Qatar's gas reaches Europe again.

      Edison says December, but that depends on ships crossing Hormuz, and only a few Qatar-linked tankers have crossed this month. [12][29]

    Good news

    • Qatar-linked gas tankers crossed the Strait of Hormuz several times this month. In August, Kpler's data showed none crossing at all.
11. 13

    Russia takes control of Metro's Russian stores

    What happened

    • Russia put the Russian business of Metro, a German retailer, under temporary state control, a decree published on Monday showed. [14][30]
    • The decree gave no reason. [14]
    • Russia did the same to Nestle, the Swiss food company, and Auchan, a French retailer, earlier this month. [14][30]
    • Under this process, local owners took over the Russian businesses of Danone and Carlsberg at knockdown prices. [30]
    • Metro has 9,000 staff in Russia. [30]

    Why it matters

    It followed a row over an attempted drone attack on Leipzig/Halle airport, which Germany blames on Russia and Russia denies. [14]

    Metro said it already had no day-to-day control of its Russian arm. [30]

    The truth

    • Who pays Metro's owners in Germany — Russia took control of their Russian stores, and in earlier cases local owners bought such businesses at knockdown prices. [14][30]
12. 14

    Adani firms settle an Indian case for $154,000

    What happened

    • India's market regulator, SEBI, let Gautam Adani and four of his group's companies settle a case on Monday. [31]
    • It was about whether they kept at least 25% of their shares in public hands, as India's rules require. [31]
    • Together with 14 directors, they paid 14.82 million rupees, about $154,000. [31]
    • The settlement makes no finding on whether the rules were broken. [31]

    Why it matters

    The probe began after Hindenburg, a US firm that bets on falling shares, accused the group of manipulating its share prices in 2023, which the group denied. [31]

    Other probes, into offshore investors and share trading, are still open. [31]

    The truth

    • Nobody knows yet

      Whether the Adani companies broke India's public-shareholding rules.

      The settlement makes no finding, and SEBI's other probes into the group are still open. [31]

13. 15

    Nu weighs buying Britain's Monzo

    What happened

    • Nu Holdings, a digital bank with 139 million customers, has reportedly held talks to buy Monzo, a British app-based bank. [32]
    • A deal could value Monzo at 8 billion to 10 billion pounds. [32]
    • Monzo has hired advisers to weigh a full sale, new funding or selling part of itself. [32]
    • It has 15.2 million customers and made 172.6 million pounds of adjusted profit before tax on 1.7 billion pounds of revenue in its last financial year. [32]

    Why it matters

    A deal would give Nu an established British bank and a licensed base to expand across the EU. [32]

    Advent, a buyout firm, is among those that have discussed buying a minority stake instead. [32]

14. 16

    Jefferies has a record quarter in share trading

    What happened

    • Jefferies, a New York investment bank, beat profit forecasts for its third quarter on Monday. [33]
    • Its fees for advising on deals and selling shares rose 17% to $1.33 billion. [33]
    • Its trading arm rose 11% to $802 million, helped by record share trading. [33]
    • But its fund business earned $34 million, down from $84 million, partly because one fund had money tied up in First Brands, a car-parts supplier that went bust. [33]

    Why it matters

    Jefferies reports before the big US banks, so investors read it as an early sign of their deal-making this quarter. [33]

    Companies have agreed deals worth more than $4 trillion around the world this year. [33]

15. 17

    Betting sites move into US shares

    What happened

    • Prediction markets such as Polymarket and Kalshi, websites where people bet on future events, now offer tens of thousands of bets on US companies, a Reuters review found. [34]
    • People can bet on moves in shares such as Tesla and Apple, or on company figures. [34]
    • These bets sit outside many of the rules that protect investors on regulated stock exchanges. [34]
    • Legal experts warn that if they keep growing they could move real share prices. [34]

    Why it matters

    They are still tiny next to the stock market. [34]

    Yesha Yadav, a law dean at Vanderbilt University, called it "innovation on steroids" and said watchdogs should act fast. [34]

16. 18

    Owners weigh a sale of Fenergo

    What happened

    • Bridgepoint and Astorg, two private equity firms, are considering selling Fenergo, three people familiar with the matter told Reuters. [35]
    • Fenergo, based in Dublin, makes software that more than 300 of the world's biggest banks and insurers use to check their customers and follow the rules. [35]
    • One source said it could be valued at more than 2 billion pounds. [35]
    • A sale could begin early in 2027. [35]

    Why it matters

    It is one of several software firms being readied for sale, with buyout firms such as Thoma Bravo and Vista weighing sales too. [35]

17. 19

    AI firms and unions team up on data centres

    What happened

    • AI companies, buyout firms and trade unions have formed the American Infrastructure Alliance, a group with millions of dollars to spend, Axios reported. [36]
    • Its backers include Blackstone, OpenAI, SoftBank and the electricians' union, the IBEW. [36]
    • It wants to agree rules for new data centres with officials in seven US states, including Texas, Ohio and Iowa. [36]
    • In return it hopes to head off bans on new building. [36]

    Why it matters

    It is planning for 2027, not this year's elections. [36]

    The IBEW's president said blanket bans would threaten good middle-class jobs. [36]

18. 20

    Democrats plan probes of Trump family deals

    What happened

    • Democrats plan to investigate business deals by President Trump's family if they win either chamber of the US Congress in November, lawmakers, staff and lawyers told Reuters. [37]
    • Companies that gave money for Trump's White House ballroom are expected to be among the first targets. [37]
    • Winning either chamber would give Democrats the power to demand documents, with probes starting as early as February. [37]
    • Trump's family has moved into crypto, drones, AI and prediction markets. [37]

    Why it matters

    Trump's own wealth has grown by an estimated $2.2 billion in two years of family deal-making. [37]

    Long legal fights over documents could follow. [37]

19. 21

    Canadian firms move business away from the US

    What happened

    • Canadian companies are looking for customers and suppliers outside the United States after US tariffs and threats, The New York Times reported. [38]
    • Accelovant, a Vancouver firm that makes temperature sensors used in chip-making, is moving production from its US factory to Southeast Asia. [38]
    • It got a $1 million grant from Canada's government to cut its reliance on the US. [38]

    Why it matters

    Its founder, Michael Goldstein, is one of many Canadian business owners who now see the US as an unreliable trading partner, the Times reported. [38]

20. 22

    Apple and Amazon face a UK price lawsuit

    What happened

    • Britain's Competition Appeal Tribunal let part of a consumer lawsuit against Apple and Amazon go ahead on Monday. [39]
    • It claims the two agreed in 2018 to limit which sellers could offer Apple and Beats products on Amazon's UK website, which pushed prices up. [39]
    • The part allowed covers Apple products bought on Amazon's marketplace. [39]
    • The claimant values it at 289 million to 306 million pounds, with interest. [39]

    Why it matters

    The tribunal threw out a wider claim about other shops, calling its theory of harm speculative. [39]

    Last year it had refused a similar case over who would represent buyers and how it was funded. [39]

21. 23

    A trading firm sues Glencore for $2bn

    What happened

    • Sapphire Minmetals, a trading firm, and related companies are suing Glencore, a London-listed commodities trader, for $2 billion in Singapore's High Court. [40]
    • They accuse Glencore of fraud, breach of contract and conspiracy. [40]
    • Last week a judge put KPMG in charge of Radiant World, one of the firms, to look into suspected fraud there. [40]
    • Sapphire's chairman, Rakesh Sethi, said on Monday they will push for a fast trial. [40]

    Why it matters

    Glencore recently suspended its head of iron ore trading, Peter Hill, Bloomberg reported. [40]

22. 24

    Boeing falls 5% on a software fault

    What happened

    • Boeing's shares fell 5% on Monday. [6]
    • Over the weekend the planemaker said it had found a software fault last month on some 737 Max jets, which could affect certain landing procedures. [6]
    • US airlines told CNBC that their Max 8 and Max 9 planes do not carry the updated software involved. [6]

    Why it matters

    Boeing flagged the fault itself, and the airlines CNBC asked say the planes they fly now are not affected. [6]

    Airline shares fell too, but because of dearer jet fuel: United and American each lost more than 2%. [6]

23. 25

    Kodiak's shares nearly triple on an eye-drug result

    What happened

    • Shares of Kodiak Sciences, a biotech company, rose about 170% on Monday. [6]
    • Its two experimental eye treatments, Zenkuda and KSI-501, met their main goals in a final-stage trial. [6]
    • The patients had wet age-related macular degeneration, an eye disease that can take away central sight in older people. [6]

    Why it matters

    CNBC listed it among the biggest share moves of the day. [6]

    A final-stage trial is usually the last big test before a company asks regulators to approve a medicine.

    Good news

    • Two experimental eye treatments from Kodiak Sciences met their main goals in a final-stage trial for wet age-related macular degeneration, an eye disease of older people.
24. 26

    Venezuelan gold flows into the US again

    What happened

    • The Trump administration allowed traders to import gold from Venezuela in March, after the US removed President Nicolas Maduro, The New York Times reported. [41]
    • Trump had once blacklisted that gold, saying it poisoned people and paid for gangsters and corrupt officers. [41]
    • It comes from one of the world's most violent and corrupt mining regions. [41]
    • The first supplies came from a state mining company that the US still lists as a security threat. [41]

    Why it matters

    The Trump administration is now helping to arrange deals in the trade, the Times reported. [41]