BUSINESS

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Ryanair announced Wednesday that it is ceasing operations at three French airports due to a "harmful" tax hike on air tickets, urging Paris to reconsider its policy. The low-cost airline is dropping airports in Brive and Bergerac in southwestern France and Strasbourg in eastern France thus impacting routes to Portugal and Scotland. Ryanair had previously dropped Vatry airport in the spring.

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Warner Bros. Discovery has officially revealed the names and executive leadership structures of the two companies it will become following its anticipated corporate split in mid-2026. The strategic move is aimed at streamlining operations and maximizing the potential of its expansive entertainment and media assets.

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The impact of US trade policies is being felt by yet another global company, with German sportswear giant Adidas reporting Wednesday that it absorbed a hit from US tariffs in the "double-digit euro millions" during the second quarter. The company, however, did not indicate whether it would pass the rising costs on to consumers. The tariffs were imposed by US President Donald Trump.

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Heineken announced Monday that it sold less beer in the first half of the year, as sales slumps in Europe and the US outweighed stronger performance in Asia. The Dutch brewer's global beer volumes totaled 116.4 million hectoliters, down from 118.2 million in the first six months of 2024, and below analysts' expectations of 117.0 million hectoliters.

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PayPal reported strong second-quarter results on Tuesday, with revenue reaching $8.29 billion, exceeding analyst expectations. Adjusted earnings per share came in at $1.16, beating forecasts of $1.15. Despite the positive financials, shares fell nearly 2% in after-hours trading, reflecting investor caution.

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US regulators have greenlit Skydance's $8 billion acquisition of Paramount Global, but only after securing assurances that the merged company will comply with Trump administration guidelines regarding diversity, equity, and inclusion initiatives. Federal Communications Commission (FCC) Chairman Brendan Carr explained that the clearance was contingent upon "written commitments" from Skydance to guarantee that the new company's news and entertainment programming "will embody a diversity of viewpoints across the political and ideological spectrum."