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Castlelake Eyes MSC as Partner for easyJet Bid

US investment firm Castlelake is considering partnering with MSC, the world's largest shipping group, for a potential takeover bid on British budget airline easyJet. According to Reuters , Castlelake has expressed interest in acquiring easyJet, citing its low valuation and key assets as attractive.

Jun 2, 2:41 AM ET Est. Read: 2 Mins

4 articles from 3 publishers

BusinessLabor

UAW Local 2093 Strikes American Axle in Michigan

United Auto Workers (UAW) Local 2093 members began a strike at American Axle's plant in Three Rivers, Michigan early Monday morning. The union is seeking to restore wages that were cut during the Great Recession. The strike began at 12:01 a.m., with picketing starting at 6 a.m., according to UAW sta

Jun 1, 2:00 PM ET Est. Read: 3 Mins

5 articles from 4 publishers

BusinessMarkets

Anthropic, SpaceX File for Record-Breaking IPOs

Anthropic, the creator of AI chatbot Claude, and SpaceX have confidentially filed for U.S. initial public offerings (IPOs), potentially becoming two of history's largest market debuts. Anthropic announced its filing on Monday, June 1, aiming to raise approximately $75 billion with a valuation near $

Jun 1, 2:00 PM ET Est. Read: 2 Mins

50 articles from 8 publishers

More Business Summaries

Corporate

Barry Diller's People Offers $18B for MGM Resorts

Barry Diller’s People Inc. , formerly known as IAC, has proposed acquiring casino operator MGM Resorts for more than $18 billion. The offer represents a premium of about 10.6% to MGM's Friday closing price of $43.67 per share, according to multiple reports. The move comes just weeks after Diller tol

Jun 1, 12:02 PM ET·2 min read

4 articles from 4 publishers

Economy

Tomato Prices Surge 40% Amid Trade Policy Shifts

Tomato prices have surged by about 40% over the past year, making them a symbol of rising costs in America. This increase is attributed to factors such as trade policy changes, extreme weather, and geopolitical tensions. The U.S. withdrawal from a duty-free tomato import deal with Mexico has signifi

May 29, 1:26 PM ET·2 min read

3 articles from 3 publishers

Corporate

EU Fines Temu €200M Over Illegal Product Sales

The European Union fined Chinese online retailer Temu €200 million on Thursday, May 28 for violating the Digital Services Act (DSA) by failing to prevent illegal product sales. The fine follows a nearly two-year investigation launched after complaints from pan-European consumers' organization BEUC a

May 28, 7:29 AM ET·2 min read

17 articles from 5 publishers

Corporate

Ousted BP Chair Manifold Disputes Conduct Allegations

Albert Manifold, the recently ousted chairman of BP, has strongly disputed allegations of misconduct that led to his removal from the company. According to multiple reports, Manifold was dismissed by the board on Tuesday after just eight months in the role due to serious concerns about his governanc

May 28, 3:38 AM ET·2 min read

3 articles from 3 publishers

Corporate

CFTC Moves to Vacate $5M Penalty Against Gemini

The U.S. Commodity Futures Trading Commission (CFTC) asked a judge to vacate the agency's $5 million penalty against Gemini Trust Company , founded by twin brothers Tyler and Cameron Winklevoss. The CFTC admitted that regulators should never have accused Gemini of making false statements in connecti

May 27, 11:48 PM ET·2 min read

4 articles from 3 publishers

Automotive

Volvo Cleared to Import Connected Cars Despite China Ban

Volvo Cars has received approval from the U.S. Department of Commerce to continue importing connected vehicles into the United States, despite an impending ban on such vehicle software with Chinese links starting from model year 2027. The Swedish automaker, which is partly owned by China's Zhejiang

May 27, 1:24 PM ET·2 min read

3 articles from 3 publishers

Markets

SpaceX, OpenAI IPOs Spark Fund Shifts; Micron Joins $1T Club

Large mutual funds and passive index funds are setting aside more cash in preparation for the upcoming IPOs of SpaceX and OpenAI, which could force these funds to sell down existing holdings in other large-cap stocks. According to multiple reports, SpaceX is targeting a valuation of about $1.75 tril

May 27, 7:18 AM ET·2 min read

14 articles from 3 publishers

Corporate

BP Ousts Chair Albert Manifold Over Conduct Concerns

British oil giant BP abruptly removed its chairman, Albert Manifold , citing serious governance and conduct concerns. The board unanimously decided to oust him less than a year after his appointment, effective immediately. The company's senior independent director, Amanda Blanc , stated that the boa

May 26, 6:20 PM ET·3 min read

7 articles from 5 publishers

Corporate

Eli Lilly to Acquire Three Vaccine Developers for $4 Billion

Eli Lilly announced on Tuesday its plans to acquire three early- and mid-stage vaccine developers— Curevo , LimmaTech Biologics , and The Vaccine Company —for a combined value of nearly $4 billion. This move signals the pharmaceutical giant's push into infectious disease prevention, according to mul

May 26, 9:56 AM ET·2 min read

4 articles from 3 publishers

Economy

Sorkin Warns of Market Crash Amid CEO Fear

CNBC's Andrew Ross Sorkin warned on CBS News' '60 Minutes' that a market crash is coming, citing CEO fear of political retaliation from the Trump administration. According to HuffPost and Fox News, Sorkin claimed most CEOs are too intimidated to criticize publicly due to concerns about regulatory at

May 26, 7:58 AM ET·1 min read

3 articles from 3 publishers

Automotive

Ferrari Unveils $640K Electric Luce Amid Mixed Reactions

Ferrari unveiled its first fully electric car, the $640,000 (€550,000) Luce , on May 27 in Rome. The four-door, five-seater model marks a significant departure from Ferrari's traditional sports cars and was developed in collaboration with former Apple design chief Sir Jony Ive and his agency LoveFro

May 25, 10:45 PM ET·3 min read

14 articles from 6 publishers

Corporate

Estée Lauder Ends Merger Talks with Puig

Estée Lauder has ended merger talks with Spanish beauty group Puig , preventing a deal that would have created a $40 billion luxury beauty giant. The companies had been in discussions for months, but disagreements over governance and Charlotte Tilbury's minority stake led to the collapse of the pote

May 22, 2:47 PM ET·1 min read

3 articles from 3 publishers

Markets

US Stocks Rise Amid Iran Talks; Rupee Strengthens

U.S. stock index futures edged higher on Friday, May 23, as investors monitored US-Iran peace talks and rising Treasury yields. The Dow closed at an all-time high on Thursday for the first time since February. The benchmark S&P 500 remains less than 1% below its all-time high and is up more than 8%

May 22, 7:44 AM ET·2 min read

10 articles from 3 publishers

Corporate

Schlitz Beer Production Halted After 177 Years

Pabst Brewing Co. has announced it will halt production of Schlitz beer after 177 years, according to CBS News . The final batch will be brewed using a mid-20th century recipe that duplicates the beer's flavor from its peak popularity. The decision comes amid declining beer sales and increased costs

May 22, 2:53 AM ET·2 min read

4 articles from 3 publishers

Media

James Murdoch Acquires Half of Vox Media

James Murdoch's media and tech holding company Lupa Systems is set to acquire nearly half of Vox Media in a deal reportedly worth over $300 million, according to multiple reports. The acquisition includes New York Magazine, Vox.com, and the company's podcast network featuring popular shows like 'Tod

May 20, 5:40 PM ET·2 min read

6 articles from 6 publishers

Technology

Nvidia Forecasts $91B Revenue on AI Boom

Nvidia forecasted second-quarter revenue of $91 billion , plus or minus 2%, surpassing Wall Street expectations of $86.84 billion . The company also announced an $80 billion share repurchase program . Traders braced for significant stock movements, with options markets pricing in a 6.5% swing in eit

May 20, 5:40 PM ET·3 min read

16 articles from 3 publishers

Economy

SpaceX Files for Record-Setting $75B IPO

SpaceX has filed financial information with regulators for an initial public offering (IPO) that could raise up to $75 billion , making it potentially the largest IPO in history. The company is seeking to value itself at over $1 trillion , which would make it one of the most valuable companies globa

May 20, 5:40 PM ET·2 min read

31 articles from 13 publishers

Trade

UK Strikes £3.7bn Trade Deal With Six Gulf States

The UK has finalized a £3.7bn trade deal with six Gulf Cooperation Council (GCC) states—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—as reported by BBC , The Guardian , Reuters , and CNBC . The agreement concludes four years of negotiations led by successive prime ministe

May 20, 2:46 PM ET·2 min read

6 articles from 4 publishers

Corporate

OpenAI Aims for $1 Trillion IPO Amid Tech Listing Rush

OpenAI is moving forward with plans to confidentially file for a U.S. initial public offering (IPO) within the coming weeks, according to multiple sources familiar with the matter. The company, valued at $852 billion , aims to go public as early as September and could see its valuation rise up to $1

May 20, 2:46 PM ET·2 min read

23 articles from 4 publishers

Corporate

Stellantis Unveils $70B Plan for 60 New Models by 2030

Stellantis announced a €60 billion ($70 billion) business plan on May 21, aiming to launch 60 new car models by 2030 . The Franco-Italian carmaker plans to refocus its portfolio, with 70% of investments going to Jeep, Ram, Peugeot, Fiat, and commercial vehicle unit Pro One. CEO Antonio Filosa will p

May 20, 7:29 AM ET·2 min read

12 articles from 4 publishers

Trade

EU Approves Trade Deal with US to Avert Trump Tariffs

The European Union has approved a trade deal with the United States that removes import duties on most American goods, according to multiple reports. The agreement was reached after five hours of negotiations between members of the European Parliament and EU member states. This move is expected to a

May 20, 5:10 AM ET·2 min read

5 articles from 4 publishers

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Business

Castlelake Eyes MSC as Partner for easyJet Bid

UAW Local 2093 Strikes American Axle in Michigan

Anthropic, SpaceX File for Record-Breaking IPOs

Barry Diller's People Offers $18B for MGM Resorts

Tomato Prices Surge 40% Amid Trade Policy Shifts

EU Fines Temu €200M Over Illegal Product Sales

Ousted BP Chair Manifold Disputes Conduct Allegations

CFTC Moves to Vacate $5M Penalty Against Gemini

Volvo Cleared to Import Connected Cars Despite China Ban

SpaceX, OpenAI IPOs Spark Fund Shifts; Micron Joins $1T Club

BP Ousts Chair Albert Manifold Over Conduct Concerns

Eli Lilly to Acquire Three Vaccine Developers for $4 Billion

Sorkin Warns of Market Crash Amid CEO Fear

Ferrari Unveils $640K Electric Luce Amid Mixed Reactions