cnbc_topnews

Meme stock GameStop makes $56 billion offer for eBay in bid to rival Amazon

game stop, the meme stock video game retailer, made an unsolicited $55.5 billion offer to buy ebay on sunday. the cash-and-stock deal values ebay at $125 per share, a 20% premium to its friday close. ceo ryan cohen told the wall street journal he wants to turn ebay into a bigger competitor to amazon.

ebay shares surged 13.4% in after-hours trading to around $118 — still below the offer price — signaling investor skepticism. game stop shares rose about 4% to $27.60. game stop has built a roughly 5% stake in ebay and secured a $20 billion debt commitment from td bank. it would fund the rest from its $9.4 billion cash pile. game stop's own market cap was about $12 billion before the news; ebay's was around $46 billion.

cohen said he's prepared to take the offer directly to shareholders in a proxy fight. if the deal closes, he'd serve as ceo of the combined company. game stop projected it could cut $2 billion in annual costs within a year, targeting ebay's $2.4 billion sales and marketing budget. it also pitched its 1,600 u.s. stores as physical infrastructure for ebay's marketplace. ebay did not immediately comment.

source: cnbc_topnews
sentiment: +0.30 · impact: 0.70

Iran warns US Navy against entering Strait of Hormuz

iran warned the us navy not to enter the strait of hormuz. the threat came after donald trump said america would "guide" stranded ships through the waterway. no further details on timing or response were given. source: ft_home sentiment: -0.60 · impact: 0.90

European markets open mostly positive as Trump threatens new auto tariffs

european markets opened mostly positive monday, with the stoxx 600 up 0.1% by 8am london. the ftse 100 was closed for a bank holiday. france's cac 40 slipped 0.1%, while germany's dax gained 0.1% and italy's ftse mib led with a

India is burning more coal as extreme heat and the Iran war squeeze energy supplies

india is burning more coal as a heatwave and the iran war squeeze energy supplies. coal-fired power generation hit 164.9 average gigawatts in april, up from 160.7 last year — a sequential rise of 3.5%. more than 70% of india's power comes from coal, and experts

World Cup prize pool nears $900 million as FIFA boosts payouts. Here’s who gets what

fifa is paying out nearly $900 million to teams at the 2026 world cup — the most in history. the total distribution comes to $871 million, including $16 million set aside for delegation costs and team ticket allocations. every team that qualifies will get at least $12.5 million. that breaks

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Iran warns US Navy against entering Strait of Hormuz

European markets open mostly positive as Trump threatens new auto tariffs

India is burning more coal as extreme heat and the Iran war squeeze energy supplies

World Cup prize pool nears $900 million as FIFA boosts payouts. Here’s who gets what