Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. is being reviewed under the European Union’s foreign subsidy regime, who will probe some $24 billion in Middle Eastern funds helping to bankroll the takeover. The filing, notified to the bloc’s competition watchdog on June 9, is now subject to investigations under both the bloc’s Foreign Subsidies Regulation and the EU...
Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. is being reviewed under the European Union’s foreign subsidy regime, who will probe some $24 billion in Middle Eastern funds helping to bankroll the takeover. The filing, notified to the bloc’s competition watchdog on June 9, is now subject to investigations under both the bloc’s Foreign Subsidies Regulation and the EU’s standard merger rules. The EU commission set a deadline of July 14 to decide whether or not to escalate its subsidy probe into the deal, which unites two Hollywood studios behind legendary films from Casablanca and Harry Potter to Mission: Impossible; two major news networks in CNN and CBS; the streaming powerhouse HBO and dozens of cable networks. Under the bloc’s foreign subsidies law, the EU has powers to vet subsidies that can hamper European markets, and could issue fines, suspend tenders or block takeovers by state-funded firms. “We don’t comment on any of our ongoing regulatory proceedings,” Paramount said. “As we have said before, we have been engaged with all regulatory and law enforcement bodies in a constructive and transparent manner and will continue to do so.” A commission spokesperson declined to comment. A trio of Middle Eastern funds have agreed to stump up $24 billion to help bankroll Paramount’s bid for WBD. This includes Saudi Arabia’s Public Investment Fund , the Qatar Investment Authority , and the relatively-unknown Abu Dhabi firm L’imad Holding Co. The funds are overseen by wealthy Gulf states that have long supplied large amounts of capital to global buyout firms. One example is Apollo Global Management Inc., which is among firms providing as much as $54 billion of financing for the Paramount offer. Abu Dhabi’s Mubadala Investment Co. has a long-standing relationship with Apollo, and the PIF’s venture arm has invested in funds run by the US firm. Should EU regulators deem that the financing risks distort competition in the bloc, it could launch a...
Sea Ltd. ’s Shopee is cutting hundreds of developer jobs globally, joining rivals across the world in slashing staff while they adopt AI in the workplace and develop new services based on the technology. The reductions, which started this week, amount to about 8% of Shopee’s developer workforce, according to people familiar with the matter. They affect roles such as quality assurance and more cuts...
Sea Ltd. ’s Shopee is cutting hundreds of developer jobs globally, joining rivals across the world in slashing staff while they adopt AI in the workplace and develop new services based on the technology. The reductions, which started this week, amount to about 8% of Shopee’s developer workforce, according to people familiar with the matter. They affect roles such as quality assurance and more cuts might follow, the people added, asking not to be identified discussing private information. It’s unclear if the move is directly tied to Sea’s forays into artificial intelligence. But they coincide with a growing debate about the impact of the technology on jobs across the world, as well as discussions around potential “AI-washing” in the wake of major layoffs at Jack Dorsey ’s Block Inc. as well as Oracle Corp . Many tech companies hired aggressively during the pandemic, when online and digital activity boomed and firms struggled to keep pace. At the same time, concerns are growing that AI will reduce a reliance on traditional software tools, eroding the lucrative business of enterprise IT services. While AI hasn’t yet translated into clear productivity gains, many companies are seeking ways to do more with less. Sea, the operator of online retailer Shopee and the Garena gaming platform, is making structural shifts after Chief Executive Officer Forrest Li declared that a trillion-dollar market capitalization was possible if his company doubled down on AI. It joins a growing number of companies like rival Alibaba Group Holding Ltd. that are investing in AI to catalyze growth while competition in their core business intensifies. A Sea spokesperson said the company regularly reviews and adjusts its staffing needs. “These decisions are always made after careful consideration. For colleagues affected by any changes, we are committed to providing support during this period of transition.” The company’s stock has taken a beating since September — when it was valued at roughly $1...
Tokyo, Japan and Cambridge, UK, 10 June 2026 – Nxera Pharma Co., Ltd. (“Nxera” or the “Company”) announces that it has joined OpenFold, a non-profit AI research consortium that promotes the development of open-source AI software tools for biology and drug discovery. Technology companies, including Amazon Web Services, Microsoft and NVIDIA, participate in OpenFold as supporting members and the cons...
Tokyo, Japan and Cambridge, UK, 10 June 2026 – Nxera Pharma Co., Ltd. (“Nxera” or the “Company”) announces that it has joined OpenFold, a non-profit AI research consortium that promotes the development of open-source AI software tools for biology and drug discovery. Technology companies, including Amazon Web Services, Microsoft and NVIDIA, participate in OpenFold as supporting members and the consortium has expanded into an international ecosystem comprising numerous pharmaceutical companies, bi
(RTTNews) - Unibail-Rodamco-Westfield SE (URW.PA), a commercial real estate company, on Wednesday announced a conditional agreement to acquire the remaining 50% stake in Westfield UTC from its joint venture partner.
(RTTNews) - Unibail-Rodamco-Westfield SE (URW.PA), a commercial real estate company, on Wednesday announced a conditional agreement to acquire the remaining 50% stake in Westfield UTC from its joint venture partner.
Allegiant Travel Company ( ALGT ) priced an upsized offering of $650M 7.125% senior secured notes due 2031 at an offering price of 99.479% in a private offering. The size of the offering was increased by $150M from the previously announced offering size of $500M. The company plans to use the proceeds from the notes offering to fully repay its existing notes, including related interest and fees, wi...
Allegiant Travel Company ( ALGT ) priced an upsized offering of $650M 7.125% senior secured notes due 2031 at an offering price of 99.479% in a private offering. The size of the offering was increased by $150M from the previously announced offering size of $500M. The company plans to use the proceeds from the notes offering to fully repay its existing notes, including related interest and fees, with the remaining funds allocated for general corporate purposes. The notes and related guarantees will be backed by security interests in most of the company's and guarantors' assets, excluding aircraft, aircraft engines, real estate and certain other assets. The Notes are expected to be issued on June 24, 2026. More on Allegiant Travel Company Allegiant Travel Company 2026 Q1 - Results - Earnings Call Presentation Allegiant Travel Company (ALGT) Q1 2026 Earnings Call Transcript Allegiant: Airline Stocks Rise Amid US-Iran Conflict Optimism, But Challenges Remain (Rating Upgrade) Allegiant Travel launches tender offer for $403M senior secured notes These 10 mid-cap U.S. Industrial stocks trading at attractive valuations
Rolling coverage of the latest economic and financial news Asian stocks have fallen sharply after Iran and the US exchanged their biggest round of fire since a ceasefire was agreed in April. The US launched strikes against Iran after Donald Trump blamed Tehran for downing a US army helicopter near the strait of Hormuz. On the former, Brent briefly fell below $90 for the first time since April 17th...
Rolling coverage of the latest economic and financial news Asian stocks have fallen sharply after Iran and the US exchanged their biggest round of fire since a ceasefire was agreed in April. The US launched strikes against Iran after Donald Trump blamed Tehran for downing a US army helicopter near the strait of Hormuz. On the former, Brent briefly fell below $90 for the first time since April 17th yesterday before partially rebounding after Trump vowed retaliation following Iran shooting down a US helicopter. On the latter, the Philly Semiconductor Index fell by as much as -8.62% intra-day before recovering to -1.93% by the close. Reflation is expected to continue in the near term due to the lasting impact of the war in Iran on imported energy costs, and of course the fading drag from from negative carry-over effect from last year, which most people forget. While oil and gas futures markets are no longer pricing in a further escalation in the Middle East, uncertainty surrounding the peace talks and the effective reopening of the strait of Hormuz appears likely to linger in the near term. Despite the acceleration in the annual rate, monthly momentum slowed noticeably, to just 0.5% m/m from 1.7% a month ago. 9am BST: Deadline data for the CMA and Ofcom to report back to government on the Telegraph/Mail deal 1.30pm BST: US inflation for May, forecast to rise to 4.2% 2.15pm BST: Treasury Committee hearing on student loans Continue reading...