bbc_business

GameStop makes $55.5bn takeover offer for eBay

gamestop made a $55.5bn unsolicited offer to buy ebay on sunday. the video game retailer, valued at roughly $11.9bn, wants to combine the two companies. ceo ryan cohen would run the merged firm, taking no salary, cash bonuses, or golden parachute — he'd only get paid based on performance.

gamestop has a commitment letter from td securities for about $20bn in debt to help fund the deal. cohen plans to cut $1.2bn from ebay's sales and marketing budget, arguing higher spending there hasn't brought in more users for a brand with "near-universal recognition." ebay shares jumped over 13% in after-hours trading friday when news leaked.

gamestop still runs roughly 1,600 us stores, which cohen says would give ebay a national network for its "live commerce" operations. cohen took over gamestop in 2023 and has criticized its slow shift online. the bbc has contacted ebay for comment.

source: bbc_business
sentiment: +0.60 · impact: 0.70

Oil prices climb after disputed report of Iran strike on U.S. warship in the Strait of Hormuz

oil started the week higher on a disputed claim of an iranian strike on a u.s. navy ship in the strait of hormuz. the report, which hasn't been confirmed by u.s. officials, added fresh volatility to crude markets. the strait of hormuz is a key chokepoint

The markets are in the early stages of pricing in stagflation. Here’s what happens next.

source: marketwatch_top sentiment: -0.70 · impact: 0.80

Warsh's take on Fed independence is met with confusion and some concern

kevin warsh, trump's pick to lead the fed, is drawing confusion from six former fed officials over his views on fed independence. the sticking point: he draws a line between monetary policy — which he says should be "strictly independent" — and "non-monetary matters" like international

'Bubble effect': Weight loss drug fueled growth is putting the pharma sector at risk, report finds

the weight-loss and diabetes drug boom is creating a bubble risk for pharma, according to a deloitte report out monday. r&d returns for the top 20 pharma companies hit 7% for a third straight year, driven almost entirely by glp-1 drugs like wegovy and zepbound. strip those out

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Oil prices climb after disputed report of Iran strike on U.S. warship in the Strait of Hormuz

The markets are in the early stages of pricing in stagflation. Here’s what happens next.

Warsh's take on Fed independence is met with confusion and some concern

'Bubble effect': Weight loss drug fueled growth is putting the pharma sector at risk, report finds