Merger roadblock: The attorneys general of 12 states sued to block Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, arguing it would reduce competition and harm consumers, workers and content creators. Paramount said the lawsuit is legally flawed and that the merger would strengthen its ability to compete. The case adds a major obstacle that could delay or derail the deal. CNBC has the full story.
US to act as ‘guardian’: President Trump says the U.S. will reinstate its naval blockade of Iran and charge a 20% fee on cargo passing through the Strait of Hormuz as reimbursement for providing security along the vital shipping route. He says the U.S. will act as the “guardian” of the strait but did not explain how the fee would be collected or enforced. The announcement further escalates tensions with Iran, raises questions about international law and adds to concerns over global energy supplies and oil prices. Bloomberg has the full story.
Factory reset: Volkswagen CEO Oliver Blume is warning employees that the automaker may need to eliminate up to 50,000 additional jobs on top of the 50,000 already planned, citing high costs, weak demand, tariffs and fierce competition from Chinese EV makers. The company is also considering reducing production capacity and its model lineup as part of a sweeping restructuring to restore profitability. The proposals face strong opposition from labor unions and leave the future of several German plants uncertain. The Wall Street Journal has the full story.
Workplace threat?
