BP Plc has announced the sale of its majority ownership in its lubricants division (Castrol) to the American investment firm Stonepeak. It will divest 65% of Castrol for an overall business valuation of $10.1 billion, which accounts for debt. The agreement will yield net proceeds of around $6 billion for BP, which includes an initial dividend payment of $800 million on the company's maintained...

The Italian antitrust authority, the Autorità Garante della Concorrenza e del Mercato (AGCM), imposed a fine of €255 million on the Irish low-cost airline Ryanair for blocking third-party airlines from buying tickets on its website. The regulator stated that Ryanair implemented specific actions to stop travel agencies from purchasing tickets on its website when combined with flights from other...

Netflix Inc. has partially refinanced the $59 billion bridge loan obtained for acquiring Warner Bros. Discovery Inc. (WBD). According to Netflix's filings with the Securities and Exchange Commission (SEC), the firm received a $5 billion revolving line of credit from banks. Moreover, the firm obtained two loans of $10 billion, each having terms of two and three years. Bridge loans are generally...

Trump Media & Technology Group has consented to merge with American nuclear fusion company TAE Technologies. The merged company holds a valuation of $6 billion. The merger with TAE represents Donald Trump's effort to penetrate the swiftly expanding sector of energy provision for artificial intelligence systems. In 2026, the merged company aims to start building the globe's inaugural...

TikTok has finalized a deal to transfer its US division to a joint venture (JV) led by a consortium of American investors, according to Axios, which references an internal memo. The transaction is anticipated to officially conclude on January 22. The distribution of the US TikTok company's shares will be as follows: 45% will be allocated to the joint venture formed by Oracle, Silver Lake, and the...

Waymo, the robotaxi service under Alphabet, is reportedly negotiating to secure $15 billion in 2026, according to CNBC, which references a source. The startup aims to secure funding from both Alphabet and outside investors at a valuation reaching $110 billion, as stated by the source. If Waymo meets its goal, it will double its earlier funding round: in October 2024, the firm secured $5.6 billion...

Warner Bros. Discovery's (WBD) board of directors declined Paramount's proposal to purchase the holding company for $108.4 billion—valuing shares at $30 each, as stated in a Warner Bros. press release. The proposition was considered overly risky, and Paramount faced allegations of deceiving shareholders. The company asserted that the suggested agreement was financially supported by the family of...

Larry Ellison, the founder of Oracle Corp., saw his fortune decrease by $24.9 billion in one day because the value of his company's shares dropped sharply. Currently, Ellison's net worth is estimated at $202.8 billion, as reported by Bloomberg. Three months ago, Ellison briefly became the richest person in the world, surpassing other billionaires including Elon Musk. This was due to a surge...

Sumitomo Corporation intends to invest 200 billion yen, which is about $1.3 billion, in various renewable energy projects in India, as reported by the Nikkei newspaper. This amount is nearly twice the initial plan. The investment will be managed through a partnership between the Japanese company and India's AMPIN Energy Transition. Together, they aim to develop projects with a combined capacity...