Latest Developments

North America
CNBC Finance

Paramount and Warner Bros. merger hit with temporary restraining order

Paramount Skydance's proposed acquisition of Warner Bros. Discovery hit its first official roadblock when a judge granted a temporary restraining order on the merger as part of a lawsuit brought by state attorneys general. California District Judge Araceli Martínez-Olguín signed off on the order Monday after hearing arguments from both sides in an Oakland courtroom on Friday. The order puts a 14-day pause on anything moving forward with the merger. Last week, a group of state attorneys general led by California's Rob Bonta filed a lawsuit seeking to block the $110 billion acquisition due to antitrust concerns. The proposed deal would unite the storied film studios of Paramount and Warner Bros, the CBS broadcast network, a sprawling portfolio of pay TV networks that includes CNN, TNT, MTV and BET, and streaming services Paramount+ and HBO Max, under one roof. In a statement Monday, a Paramount spokesperson said the company is "confident the evidence will demonstrate that the State AGs' antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities." "This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry. We will continue to vigorously defend the transaction and will look forward to the hearings on the substance of the State AGs' action," according to the statement. The lawsuit said the proposed deal would violate the Clayton Antitrust Act — a more than 100-year-old law that prohibits anticompetitive mergers and acquisitions. The lawsuit was brought by a group of states that also includes Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington. In Monday's order, Martínez-Olguín said the coalition of state attorneys general presented "compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market." Paramount's lead trial counsel, Jeffrey Kessler, said on CNBC last week that the TRO was filed after Paramount indicated its intention was to close the deal as early as July 22, when the company expects to have all regulatory clearances. During Friday's hearing, Paramount attorneys offered to delay the deal closing until mid-August to sidestep a temporary restraining order. In Monday's statement, Paramount said it was "grateful for the court's swift order," adding that similar to its offer to delay the deal during Friday's hearing, the order "preserves the status quo while the Court considers the antitrust issues presented." Still, the states could seek another temporary restraining order after the 14 days, or a preliminary injunction, which would further delay the deal. Another proposed media deal — the $6.2 billion tie-up of broadcast station group owners Nexstar Media Group and Tegna — has been put on pause following a similar lawsuit and preliminary injunction that was granted by a U.S. court. A trial for the lawsuit, which is also being led by Bonta, is set to begin in mid-2027.

Paramount and Warner Bros. merger hit with temporary restraining order
Europe
BBC Business

Rental searches for pet friendly properties drop after law change

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished3 hours agoRightmove searches for rental properties that allow pets have plummeted since law changes gave renters more rights. Following the introduction of the new rules, pet searches dropped by more than 50% in May and June compared with a year earlier. Landlords in England cannot unreasonably refuse pets in their properties under changes made in May in the Renters' Rights Act. But agents say some renters wrongly believe permission to have a pet is guaranteed, and landlords say some homes remain unsuitable for multiple pets or large dogs. "Landlords must consider requests fairly and cannot unreasonably refuse them, but they can still decline where there is a valid reason," said Megan Eighteen, immediate past president of lettings agents trade body ARLA Propertymark. She said there was plenty of "potential for misunderstanding", among tenants about pet-friendly properties. The Rightmove data suggests that fewer tenants are proactively filtering for pet-friendly properties when searching for a home. While pets remain the most common searched-for term overall - ahead of gardens, garages and furnishings, the lead at the top is shrinking. Renter searches for properties that allow pets fell by 54% in May and 52% in June compared with the same months a year earlier, according to the figures shared with the BBC. Falls had accelerated through this year, as the changes got closer and were then introduced. Marc von Grundherr, director of agency Benham and Reeves, said some tenants have only disclosed a pet after signing their tenancy agreement, while others have been discovered during property inspections. "The reality is that tenants now understand the balance of power has shifted. Landlords can no longer rely on a blanket 'no pets' policy to deter applications and should instead expect conversations around pet ownership to arise much later in the letting process," he said. Now, in England, landlords may still be able to refuse a pet if another tenant has an allergy, the property is too small for a large pet or several pets, the pet is illegal, or the landlord is a leaseholder and the freeholder does not allow pets. Before the rules changed, Eve Williamson had to give up her American Bulldog, Khan, or face eviction from her home - despite having previously had a dog in the property.

Rental searches for pet friendly properties drop after law change
North America
CNBC Finance

RFK Jr. says cyclospora outbreak is 'under control'

Health and Human Services Secretary Robert F. Kennedy Jr. on Tuesday said that the ongoing outbreak of cyclosporiasis is "under control." "We've identified the source of the outbreak, and the companies that are involved have implemented a recall," Kennedy said, responding to questions during a news briefing about healthcare fraud. The Food and Drug Administration and the Centers for Disease Control and Prevention, both under Kennedy's purview as HHS secretary, have faced criticism for their responses to the outbreak. Critics have blasted the federal agencies for the delays in alerting the public and tracking down the source of the outbreak, which the agencies have linked to shredded iceberg lettuce from central Mexico that was supplied by produce giant Taylor Farms. Some have claimed that agency cuts by the Trump administration have hampered the investigation, although the cyclospora parasite itself presents challenges due to its lengthy incubation period. "Those criticisms are invalid," Kennedy said during the briefing, responding to a question regarding criticism of the job cuts under his leadership. "We had no cuts in the surveillance program. We did cuts in the FoodNet program, but they were for redundant surveillance." FoodNet, or the Foodborne Diseases Active Surveillance Network, stopped mandatory reporting for six of eight pathogens — including cyclospora — last year due to funding cuts. The organization is a partnership between the CDC, the FDA, 10 state health departments and the U.S. Department of Agriculture. The FDA has concluded that the current cyclospora outbreak is linked to the iceberg lettuce, some of which was served by Yum Brands' Taco Bell. Taylor Farms has recalled the produce linked to the outbreak, while Taco Bell has pulled it from its restaurants. However, the FDA's messaging about a false positive test for cyclospora in a sample of Taylor Farms lettuce during its investigation sparked confusion, leading the agency to issue a clarification on Monday. It said it still suspects the company's iceberg lettuce is the source of the outbreak. The CDC, FDA and public health officials in multiple states have been investigating the outbreak, with illnesses first having appeared on May 13. So far, more than 1,644 cases have been reported, with 94 hospitalizations and no deaths, according to the CDC. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

RFK Jr. says cyclospora outbreak is 'under control'
North America
CNBC Finance

Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe

Goldman Sachs has created a new platform to expand its offerings for wealthy clients and family offices who increasingly want direct stakes in fast-growing private companies, CNBC has learned. The new group, called the alternative investments platform, combines Goldman's existing alternatives business with two newly established teams, according to a memo seen first by CNBC. The new teams focus on direct investments in individual private companies, rather than broader private equity funds, and on helping clients buy and sell those stakes, according to the memo. "There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets," Kristin Olson, Goldman Sachs' global head of alternatives for wealth, told CNBC in an interview. Goldman's move reflects two of the biggest trends reshaping Wall Street. The firm has spent years pushing deeper into wealth and asset management because of its perception as providing steadier revenues than investment banking and trading. At the same time, the most successful startups are staying private far longer than they once did, allowing early investors to capture most of the gains before public investors get a chance. "Companies are going public at a trillion dollars," Olson said. "If you haven't participated along the way, you're clearly missing a big part of the growth cycle." Goldman has been arranging direct investments in later-stage private companies for wealthy clients for roughly two decades, Olson said, pointing to Facebook before its 2012 initial public offering and later SpaceX, Stripe and Canva. But growth in demand for the asset class convinced executives to break out the business, she added. The firm's goal, Olson said, is to help clients identify promising companies before they become household names. Rather than targeting early-stage startups, Olson said, Goldman generally focuses on later-stage companies that have established products, meaningful revenue and clearer paths toward profitability, seeking what she described as a "sweet spot" between risk and return. The AI investment boom has only intensified demand. Beyond leading model developers, Goldman is increasingly steering clients toward investments in the infrastructure underpinning AI, including data centers and related projects, Olson said. The announcement comes days after Goldman reported record quarterly revenue, with executives highlighting AI-driven activity across investment banking, trading and financing businesses. The results reinforced investors' view that Goldman is positioned to benefit from multiple facets of the AI investment cycle. The announcement also formalizes Goldman's growing business helping clients find liquidity for private investments.

Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe
Europe
BBC Business

Some food prices have fallen – but inflation expected to rise from here

Food prices are rising at their slowest rate in nearly two years, as the cost of some staples such as margarine and sugar have gone down. Supermarket price wars have helped drive down prices in the year to June, the industry says, as retailers work to tempt customers with summer deals. Inflation in the UK overall has fallen to 2.6% in the year to June, down from 2.8% in the year to May, according to the Office for National Statistics (ONS), driven largely by lower fuel and food prices. June's figure will be welcomed by new Prime Minister Andy Burnham and his government, but analysts warn the fall is temporary, as higher energy prices in July are expected to push inflation back up. Lower fuel costs - particularly lower diesel prices - also pushed inflation down, with prices at the pump falling for the first time since the start of the war in the Middle East. Clothing costs fell as well due to the summer sales, with many retailers offering larger discounts than last year. Falling food pricesFood and non-alcoholic beverage inflation fell by 0.2% month-to-month, with sugar, chocolate and confectionery seeing the largest drop in price. Looking at inflation over the year, beef and veal price inflation eased from 9.4% in the 12 months to May to 5.1% in the year to June, while edible offal - which includes things like liver, kidneys and tongue - slowed from 9.2% to 3.4% over the same period. Some other food items were cheaper, according to ONS data. Pizza and quiches, for example, fell by 6.7% in the year to June. Margarine dropped by 1.9% in the same period. Food inflation often has a lag of up to 13 months due to the supply chain, so any effects from the war in Iran could still be yet to come. Fuel prices at the pump fell in June after the US and Iran agreed to halt military operations and allow the key Strait of Hormuz to re-open. But the recent resumption of hostilities and a new jump in crude oil prices means inflation could spike again in the coming months.

Some food prices have fallen – but inflation expected to rise from here
Asia
The Hindu BusinessLine

Who Am I? August 2, 2026

Here’s a challenge. Using the five clues below, identify the company that is being talked about here. 1 Began my journey as a JV with an overseas partner whose country’s name I still carry in my corporate name, though I have completely bought them out. 2 I was listed only on a regional stock exchange for a decade before getting listed on the national stock exchanges. 3 My chairman earned his master’s from IIM Ahmedabad, and his son graduated from Stanford. 4 I have delivered a CAGR of more than 20 per cent to my shareholders over the last decade despite a return on equity of under 12 per cent. 5 Both FIIs and DIIs own negligible stakes, and no non-promoter shareholder owns more than 1 per cent. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Who Am I? August 2, 2026
North America
CNBC Finance

GM announces new gas-powered Cadillac vehicles amid EV pullback

DETROIT — General Motors will launch new gas-powered Cadillac vehicles beginning next spring as the automaker continues to shift gears away from all-electric vehicles. GM CEO Mary Barra said Tuesday that the next-generation Cadillacs will include new versions of the company's CT5 sedan, outdated XT5 midsize SUV and discontinued three-row XT6 SUV. "Starting next spring and continuing into 2028, we will begin launching the next generation of Cadillac ICE [internal combustion engine] vehicles," Barra said during the company's second-quarter earnings call. She said the vehicles will be in addition to Cadillac's current all-electric crossovers and Escalade SUV. The new product announcements add to GM's pullback in EVs. The automaker had planned for Cadillac to exclusively sell electric vehicles by the end of this decade. The company also has walked back EV plans for other brands and increased gas-powered engine production, including V-8 offerings. GM has recorded $10.9 billion in EV-related charges since the second half of last year after slower-than-expected electric vehicle adoption as well as U.S. regulatory changes easing emissions standards and eliminating support for EVs. Barra reiterated that GM's plans include "onshoring significant manufacturing" for the Detroit automaker beginning next year, in part by expanding production of its full-size SUVs to a Michigan plant that was previously slated to build EVs. The full-size SUVs — Escalade, Chevy Tahoe and Suburban, and GMC Yukon and Yukon XL — are currently exclusively produced at the company's Arlington Assembly plant in Texas. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

GM announces new gas-powered Cadillac vehicles amid EV pullback
Europe
BBC Business

ADHD has rewired the workplace. This is what it means for bosses and workers

ByEsyllt CarrBusiness reporterTaking one of the UK's biggest grocery chains to an employment tribunal was something that Ryan Toghill says almost took over his life. The deputy store manager at Lidl, who'd told his bosses he'd been diagnosed with Attention Deficit Hyperactivity Disorder (ADHD), was called to a disciplinary meeting after breaking company rules by using equipment he hadn't been trained to use. After that meeting, Ryan was dismissed for gross misconduct. He successfully appealed the decision and was offered a lower-paid role. He rejected it and took his case to a tribunal. Eventually, he was awarded more than £45,000 when the judge found his former employer hadn't fully taken his ADHD diagnosis into account during the disciplinary process. The judgement found reasonable adjustments during the process hadn't been offered to him, such as additional breaks. He'd been described by a manager as showing "a lack of remorse," something the tribunal found was clearly linked with his communication differences associated with having ADHD. "I don't show a lot of emotions," Ryan explains. "I could be incredibly happy, angry, upset, or remorseful, and my facial expressions and tone of voice would essentially remain the same." The tribunal upheld part of his claims for unfair dismissal, wrongful dismissal and a failure to make reasonable adjustments. Lidl says it's "committed to ensuring that everyone receives the reasonable adjustments, clear communication and support they need to thrive." Campaigners, lawyers and HR teams say cases like this highlight a shift that businesses should be paying attention to. Thousands of people have been diagnosed as neurodivergent in the last few years, an umbrella term that covers autism, ADHD and other conditions such as dyslexia and Tourette's syndrome. Since the pandemic in particular, diagnosis rates for ADHD and autism have been rising, and they're featuring more regularly in disputes in employment tribunals. While many people who are neurodivergent don't consider themselves disabled, the Equality Act 2010 may give them protection by recognising their condition as a disability, regardless of whether they have a formal diagnosis. They're entitled to reasonable adjustments if they can show that their condition has a substantial and long-term adverse effect on their ability to do normal day-to-day activities. These are widely defined and aren't limited to work tasks. Cases going to tribunal can be around employers not making those adjustments, but they can also be about how people are treated at work.

ADHD has rewired the workplace. This is what it means for bosses and workers
Asia
The Hindu BusinessLine

Muthoot Finance announces leadership succession: Names Alexander George as MD

The Board of Directors of Muthoot Finance Limited has recommended the appointment of Alexander George as the Managing Director of the company, effective October 1, 2026. The appointment is subject to shareholders’ approval at the upcoming AGM of the company. George Alexander Muthoot, the current Managing Director, will assume the role of Executive Vice Chairman. In his new role, George Alexander Muthoot will continue to guide the organisation, mentor the next generation of leadership, and provide strategic direction as the company enters its next phase of growth, a press release said. Alexander George spearheaded several transformation initiatives across technology, digital banking, customer experience, marketing, brand building, operational excellence and people development, helping build a future-ready organisation while maintaining the trust and values that define the Muthoot brand. The Board has also recommended the elevation of K. R. Bijimon to the position of Chief Executive Officer (CEO). He currently serves as the company’s Executive Director & Chief Operating Officer. The leadership transition comes at a time when Muthoot Finance has recorded sustained business growth. The Company has, as on June 30, 2026, crossed ₹1.91 trillion consolidated Loan Assets Under Management, and achieved a historic milestone by crossing ₹106.06 billion in consolidated profit after tax during the financial year 2025-26. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Muthoot Finance announces leadership succession: Names Alexander George as MD