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A Saudi-led investment group led by Public Investment Fund has completed a $55 billion acquisition of video game company Electronic Arts, taking the company private in what is considered the largest leveraged buyout in history.
General Motors and China’s SAIC Motor extended their Chinese joint venture for 20 years through 2047, focusing on domestic sales and international exports amid evolving market competition.
UK banks reported £29.2bn in combined profits, reigniting calls for a windfall tax under Prime Minister Andy Burnham, though banking executives warn of potential economic consequences.
Next upgraded its profit guidance for the third time this year, raising full-year expectations to £1.2bn as summer weather and international demand boosted sales performance.
UK farmers warn that exceptionally dry weather could produce the worst harvest on record, potentially leading to smaller vegetables and higher prices in supermarkets through shrinkflation.
Gibraltar and Spain are scheduled to remove border controls on July 15, ending decades of frontier restrictions and allowing free movement between the British territory and the EU following Brexit negotiations.
