BUSINESS

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The European Union is reviewing Paramount Skydance’s proposed takeover of Warner Bros. Discovery because the deal is backed by three Middle Eastern sovereign wealth funds, EU regulators said in a public filing on Wednesday. The inquiry adds regulatory scrutiny to a merger that would bring two major Hollywood studios together and could reshape the U.S. entertainment industry.

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Universal Music Group (UMG) has rejected a $64.3 billion takeover bid from billionaire investor Bill Ackman’s firm, Pershing Square. The music giant stated that the offer "fundamentally and materially undervalues" the company and is not in the best interests of its shareholders, artists, fans, and stakeholders. Pershing Square, which already owns a minority stake in UMG, had targeted the company whose assets include EMI, Island Records, and the historic Abbey Road Studios.

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Concerns over possible layoffs at Xbox are growing after newly appointed chief executive officer Asha Sharma shared a memo outlining the challenges facing Microsoft’s gaming division and the need for a major business reset.

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Luxury sports car maker Ferrari has unveiled its first fully electric vehicle, the $640,000 Luce, marking a dramatic departure from everything the Italian brand has ever built.

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Amazon has claimed the top spot on the Fortune 500 list, displacing Walmart after the retailer's uninterrupted 13-year run as America's highest-revenue company.

The latest ranking, built on fiscal 2025 figures, places Amazon first, Walmart second, and UnitedHealth Group third.

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Stellantis has a plan to save itself, and Wall Street is not buying it, at least not yet. The Chrysler parent unveiled a five-year strategic blueprint Thursday called "FaSTLAne 2030," pledging €60 billion, roughly $70 billion, in investment through the end of the decade. The company's stock responded by sinking as much as 7.4% on the Milan exchange, as investors appeared to want something bolder than what was on offer.

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Jensen Huang, CEO, Nvidia, Called Marvell "The Next Trillion-Dollar Company,"  and the Stock Immediately Exploded

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Intuit is cutting roughly 3,000 jobs worldwide, representing about 17% of its global workforce, as the financial software company moves to streamline operations and deepen its focus on artificial intelligence, according to an internal memo sent to employees on Wednesday.