GameStop bids $55.5 billion to acquire eBay
GameStop has made an unsolicited offer to acquire eBay for $125 per share, valuing the e-commerce platform at approximately $55.5 billion. CEO Ryan Cohen stated that the bid, which includes a mix of cash and stock, aims to enhance eBay's competitiveness against Amazon and capitalize on potential cost reductions. GameStop currently holds a 5% stake in eBay and plans to leverage its retail locations for eBay operations, while eBay's board is reviewing the proposal.
Amazon Launches Supply Chain Services for Businesses
Amazon has launched Amazon Supply Chain Services (ASCS), making its extensive logistics capabilities available to businesses across various sectors, including healthcare and retail. This initiative allows companies to utilize Amazon's freight, distribution, fulfillment, and parcel shipping solutions, which have been developed over decades to support its own operations. Leading brands such as Procter & Gamble, 3M, Lands’ End, and American Eagle Outfitters are among the first to adopt these services, leveraging Amazon's infrastructure to enhance their supply chain efficiency.
Meta secures $13 billion financing for Texas data center
Meta Platforms Inc. is securing a financing package for a data center in El Paso, Texas, which could total approximately $13 billion, highlighting the tech industry's increasing reliance on debt to support AI infrastructure. Morgan Stanley and JPMorgan Chase & Co. are leading the financing process, with a significant portion expected to be in debt, while the data center is projected to create 300 permanent jobs and go online in 2028.
FTSE 100 gains 21.5% in 2025 led by utilities
The FTSE 100 index in the UK recorded a 21.5% gain in 2025, its strongest performance since 2009, driven primarily by significant gains in utility and energy stocks. National Grid saw a 20.7% increase, while United Utilities reported a 30.9% rise, as investors sought stable growth amid uncertainty from the ongoing Iran war and fluctuating oil prices. Energy Secretary Ed Miliband emphasized the government's commitment to reducing reliance on fossil fuels, positioning utility stocks as key players in the UK's energy future.
Anthropic launches $1.5 billion AI venture with partners
Anthropic has partnered with Blackstone and Goldman Sachs to establish a $1.5 billion joint venture aimed at accelerating the integration of artificial intelligence into business operations. The new firm, which also includes Hellman & Friedman and is backed by a consortium of asset managers such as Apollo and General Atlantic, will utilize Anthropic's Claude AI model to assist companies in overcoming the shortage of expertise needed for effective AI implementation. This initiative is positioned to enhance AI adoption across various industries, particularly among mid-sized companies.
Paramount Reports Revenue Growth and Subscriber Gains
Paramount reported first-quarter revenue of nearly $7.35 billion, a 2% increase from the previous year, driven by an 11% rise in streaming revenue to $2.4 billion and an 11% increase in film studio revenue to approximately $1.28 billion. The company added 700,000 subscribers to Paramount+, bringing its total to nearly 80 million, despite recent price hikes. Paramount confirmed plans to finalize its acquisition of Warner Bros. Discovery by the end of the third quarter, which would extend its reach to 57% of US internet households.
Reserve Bank of Australia Raises Cash Rate to 4.35%
The Reserve Bank of Australia raised its cash rate by 25 basis points to 4.35% at its May 2026 meeting, marking the third consecutive increase this year. This decision, made in an 8–1 vote, aims to address persistent inflationary pressures driven by higher fuel and commodity prices linked to ongoing geopolitical conflicts, particularly the war involving Iran. The central bank's updated forecasts indicate that inflation is expected to peak at 4.8% in the year to the June quarter, while economic growth is projected to halve to 1.3% this year due to the conflict's impact.
