Musk Merges SpaceX and xAI Before 2026 IPO
Elon Musk consolidates his space and AI ventures, including SpaceX, xAI, Starlink, and X, into one company ahead of a planned massive initial public offering later this year.
Category : Acquisitions
Fintech CEO Gokce Guven Charged with $7M Investor Fraud
Gokce Guven, founder of Klader Inc. and Forbes 30 Under 30 recipient, faces charges for allegedly defrauding investors of $7 million and obtaining a US visa through fraudulent means.
US Contractor's Gaza Plan: 300% Profit, 7-Year Monopoly
A US disaster response firm submitted a proposal to White House officials guaranteeing 300% profits and a seven-year monopoly over Gaza trucking and logistics, documents reveal.
Disney Q1 Profits Beat Expectations on Film Hits
Disney's first-quarter adjusted earnings exceeded Wall Street forecasts, driven by strong box-office performances from Zootopia 2 and Avatar: Fire and Ash, with shares rising 2%.
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Coppa Club Owner Eyes Acquisitions and New Venues
Restaurant group Various Eateries, which operates Coppa Club and Noci brands, is considering mergers and acquisitions to drive growth after reporting stronger profits and encouraging trading.
Nvidia-OpenAI $100bn AI Deal in Jeopardy
The landmark $100 billion partnership between Nvidia and OpenAI is reportedly faltering, with insiders revealing both sides are reconsidering the agreement amid private criticisms and competitive concerns.
Apple's $2bn AI Startup Buy for Silent Chatbot Tech
Apple has acquired Israeli AI startup Q.ai for $2 billion, its largest deal since Beats in 2014, to develop technology enabling non-verbal communication with chatbots via facial expressions.
BAT Lawsuit: North Korea Terror Funding Claims
British American Tobacco accused in lawsuit of funding North Korean weapons programs through cigarette venture, allegedly linked to attacks on US forces.
Vietnam Auctions Tycoon's Birkin Bags for Fraud Recovery
Vietnamese authorities are preparing to sell luxury assets seized from convicted tycoon Truong My Lan, including crocodile-skin Hermès Birkin bags, to recoup billions lost in one of history's largest banking fraud cases.
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SpaceX Considers Tesla Merger or xAI Tie-Up Before IPO
SpaceX is reportedly examining a potential merger with Tesla or a tie-up with AI firm xAI as Elon Musk explores consolidating his empire ahead of a massive stock market flotation.
Nine Sells Radio Stations to Arthur Laundy, Buys QMS
Nine Entertainment sells its talkback radio network including 2GB and 3AW to Sydney pub baron Arthur Laundy for $56m while acquiring outdoor advertising company QMS Media for $850m.
Pro Rodeo HQ Move to Wyoming Faces Conservative Opposition
The Professional Rodeo Cowboys Association plans to relocate from Colorado to Wyoming, but conservative lawmakers question $15 million in state incentives, highlighting tensions over public funding for private enterprise.
DS Smith Set for London Return in US Spin-Off Plan
Packaging giant DS Smith is set to return to the London Stock Exchange just a year after its £5.8 billion acquisition by US rival International Paper, which plans to spin off its European operations.
Norfolk Southern Profit Slips 12% on Merger Costs
Norfolk Southern's quarterly profit fell 12% due to merger-related expenses and economic uncertainty, though adjusted earnings beat analyst forecasts.
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Ocado Shares Slide After Sobeys Warehouse Closure
Ocado shares fell sharply after Canadian supermarket chain Sobeys announced the closure of a robotic warehouse in Calgary, marking another setback for the British tech firm's North American expansion.
Nine Sells Radio Stations to Arthur Laundy
Nine Entertainment has sold its radio stations, including 2GB and 3AW, to billionaire pub baron Arthur Laundy in a confidential deal confirmed by the company's newspapers.
Primrose Candy Files for Bankruptcy After 98 Years
Chicago's Primrose Candy Co., maker of nostalgic Coffee Nips, files for Chapter 11 bankruptcy with liabilities up to $50 million, citing foreign competition, lawsuits, and soaring sugar costs.
Tesla Profits Crash 46% as Musk Exits Trump Government
Tesla's net income plummeted 46% to $3.8bn in 2025, marking a second year of steep declines. Elon Musk's political involvement and brand damage contributed to the slump, though robotaxi hopes buoyed shares.
Tesla Revenue Drops 11% Amid Musk's AI Pivot
Tesla reports its first-ever yearly revenue decline, with automotive revenues falling 11% in 2025. Elon Musk shifts focus to AI and robotics, including the Optimus robot, to drive future growth.
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Al Habtoor Group Exits Lebanon, Lays Off All Staff
Dubai-based Al Habtoor Group announces closure of Lebanese operations and termination of all employees following $1.7 billion investment dispute with authorities.
Goalhanger Podcasts Gets US Investment from Chernin Group
London-based podcast producer Goalhanger, co-founded by Gary Lineker, has secured its first external investment from The Chernin Group to fund global expansion and new media formats.
SpaceX Mulls $1.5tn IPO Tied to Musk's Birthday and Planets
Elon Musk's SpaceX is considering a $1.5tn IPO in mid-June, timed to coincide with a planetary alignment and his 55th birthday, aiming to raise $50bn.
Anta to Become Puma's Largest Shareholder in $1.8bn Deal
China's Anta is set to acquire a 29% stake in Puma from Kering's Pinault family, aiming to revive the German sportswear brand's fortunes amid intense rivalry with Adidas.
Bezos Vogue Takeover Rumours Grow After Paris Fashion Week
Speculation mounts about Jeff Bezos acquiring Conde Nast as his wife Lauren Sanchez appears with Vogue's Dame Anna Wintour at Paris Fashion Week, despite denials from both parties.
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Chinese Firm on US Watchlist Buys Canadian Gold Miner
Zijin Gold International, a subsidiary of a Chinese group on the US forced labour watchlist, has announced a $4.2bn acquisition of Canada's Allied Gold, amid geopolitical tensions.
Anta Buys 29% Puma Stake for $1.8 Billion
China's Anta Sports Products announces acquisition of a 29.06% stake in German sportswear giant Puma for €1.5 billion, aiming to boost Puma's presence in the lucrative Chinese market.
EY Partner's Explosive Exit Email Slams Firm's Culture
A veteran EY partner has launched a blistering attack on the firm's 'autocratic' leadership and toxic workplace culture in a farewell email to colleagues after 19 years.
Nelson Peltz: The Billionaire Behind Nicola Peltz's Feud
Explore how billionaire investor Nelson Peltz built his fortune from humble beginnings, instilled a fierce work ethic in his children including Nicola Peltz, and became a feared Wall Street figure.
Spire Healthcare in Private Equity Takeover Talks
Spire Healthcare, the UK's largest private hospital provider, has confirmed early-stage talks with private equity firms Bridgepoint and Triton regarding a potential sale.
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Peet's Coffee Closes Stores After $18bn Takeover
Peet's Coffee is permanently closing multiple locations across California following Keurig Dr Pepper's $18 billion acquisition, with dozens of stores set to shutter by 2026.
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