Today UK TimesLondon edition

Today UK Times

Business

Companies, retail, industry, management and entrepreneurship.

Stylised finance-themed illustration marking the settlement that cleared the Paramount Skydance and Warner Bros Discovery merger

Company notice • 22 September 2026

Paramount Settles Lawsuit With US States, Clearing Way for $110bn Warner Bros Merger

Paramount Skydance settled a lawsuit led by California with a dozen US states, removing one of the final hurdles to its $110bn (£82.8bn) merger with Warner Bros Discovery. The agreement includes a quota of at least 30 films a year, US production percentages, an editorial independence board for CBS News and CNN, and a $17.5m payment into the Writers Guild of America health fund.

Abstract terracotta and sand illustration of stylised shopfront awnings and restaurant facades
Analysis•Business•

Gen Z turns against private equity's restaurant takeover: what the Los Tacos No 1 backlash reveals about the battle for American dining

When beloved New York taqueria Los Tacos No 1 accepted undisclosed funding from private equity firm TSG Consumer in September 2026, social media declared it 'the beginning of the end'. The backlash, amplified by TikTok lists of restaurants to avoid, exposes a deeper collision: an industry where PE firms invested $94.5bn between 2014 and 2024, where almost half of 2024 restaurant bankruptcies were PE-backed, and where a younger generation of consumers now treats ownership structure as a quality signal.

A paper-wrapped serving of fish and chips on a stone harbour wall at dusk, fishing boats in the background
Analysis•Business•

Can Fish and Chip Shops Survive? The Economics Behind Britain's Fading Chippy

Soaring fish prices, shrinking quotas, VAT and labour costs, and changing consumer tastes are squeezing Britain's fish and chip shops, with about a fifth of owners planning to quit within a year. Yet a new generation of owners is reinventing the trade — raising the question of whether the better shops can survive while the rest disappear.

Backup power generators beside a modern data centre building at dusk
Company notice•Business•

Amazon Obtains Right to Buy Up to $340 Million of Generac Stock

Amazon was granted warrants to buy up to about 1.69 million Generac shares worth roughly $340 million, tied to an up-to-$8 billion deal for backup power generators for its data centres; Generac shares jumped more than 40 per cent.

Modern football stadium at dusk with glowing floodlights and a steel-blue and amber colour scheme
Company notice•Business•

Clearlake Capital Takes Full Control of Chelsea Football Club as Boehly and Walter Sell Their Stakes

Clearlake Capital, the majority owner of Chelsea Football Club since 2022, has acquired the remaining stakes held by chairman Todd Boehly and Los Angeles Dodgers owner Mark Walter, taking full control of the club. According to a report by the Financial Times cited by CNBC, Boehly and Walter will receive a combined £950 million (about $1.27 billion), valuing the club at £5 billion. Boehly is stepping down as chairman, while Chelsea said there will be no changes to day-to-day operations, leadership or strategy.

Stylised illustration of large-scale capital investment flowing into the German economy
Wire item•Business•

UAE to Invest $46 Billion in Germany Across Energy, Defence and Digital Sectors

The United Arab Emirates has decided to invest $46 billion in various sectors of the German economy, from artificial intelligence to energy and defence, to deepen its strategic partnership in Europe, Bloomberg reported. About $10 billion is earmarked for Bavaria, and UAE Foreign Trade Minister Thani Al Zeyoudi said the commitment is 'only the beginning'.

A European steel and metals plant at dusk with blast furnaces, cooling towers and glowing amber furnace light
Analysis•Business•

Europe's Factory Floor Is Quietly Changing Hands: Why the Fight Over Supply Chains Decides the Fate of 300,000 Jobs

Eurometal, the leading European metals trade body, warns that EU manufacturing could lose 300,000 jobs in the rest of 2026 as Chinese component makers embed themselves in industrial supply chains. With a record €1bn-a-day trade surplus against the bloc and a €360bn annual imbalance, the pressure is forcing Brussels to weigh tariffs, talks and the real cost of carbon pricing for energy-intensive plants.

An industrial factory outline with production halls and chimneys illustrating Volkswagen's restructuring plan across its German plants
Company notice•Business•

Volkswagen Confirms 100,000 Job Cuts by 2030 in the Auto Sector's Biggest Ever Restructure

Volkswagen has approved plans to shed 100,000 jobs — about 15% of its more than 650,000-strong workforce — as it faces fierce competition from Chinese rivals, falling sales in China and hefty US tariffs. After the latest round of talks the carmaker announced a further 50,000 cuts and agreed a staggered end to current production at four German plants between 2031 and 2034, while halving its model line in what is described as the largest restructuring ever carried out in the global automotive industry.

Stylised semiconductor circuit board symbolising SMIC's consolidation of its Beijing foundry unit SMNC in 2026
Company notice•Business•

Notice: SMIC Clears Final Regulatory Hurdle for US$6 Billion Takeover of Beijing Foundry Unit SMNC

China's largest wafer foundry SMIC won securities regulator approval to issue 547.2 million A-shares for the remaining 49 per cent stake in its Beijing unit SMNC, valuing the stake at 40.6 billion yuan (US$5.97 billion). Upon completion, SMNC becomes a wholly owned subsidiary in what could be the largest merger and restructuring deal on Shanghai's STAR Market.

Stylised research laboratory composition with pharmaceutical motifs, reflecting Takeda's restructuring and refocus on priority therapeutic areas in 2026
Company notice•Business•

Notice: Takeda Pharmaceutical to Cut 400 US Jobs in Overhaul Ahead of First Female CEO Taking Charge

Takeda Pharmaceutical announced in March 2026 that it will cut 400 jobs in its US operations as part of a broader restructuring ahead of a June 2026 leadership change, when Julie Kim becomes the company's first female CEO. The overhaul includes $230 million investment in new production facilities at a Los Angeles plant and a refocus on blood products and priority therapeutic areas.

Stylised industrial complex with production structures, reflecting the strategic pause in Kraft Heinz's corporate breakup and the pivot to operational turnaround in 2026
Company notice•Business•

Notice: Kraft Heinz Pauses Planned Split as New CEO Cahillane Pledges $600 Million Turnaround

Kraft Heinz announced on 11 February 2026 that it is pausing work on its previously planned split into two separately traded companies, reversing the September 2025 breakup announcement. New CEO Steve Cahillane, who joined in January, said many issues are 'fixable and within our control' and pledged a $600 million investment in marketing, sales and R&D to revive the US business. Berkshire Hathaway's Greg Abel expressed support for the decision.

A sequence of rising stock-market columns illustrating Nvidia's climb to a record $5 trillion market valuation
Company notice•Business•

Nvidia becomes the world's first $5 trillion company

The Silicon Valley chipmaker reached a market value above $5tn, exceeding the GDP of India, Japan and the United Kingdom, just three months after becoming the first company to break through $4tn. The milestone follows $500bn in disclosed chip orders, new partnerships with Uber and Nokia, and a $100bn investment in OpenAI.

Abstract industrial composition in steel-blue and amber tones with factory-like columns and a glowing furnace circle
Analysis•Business•

The £235m Bill for Saving British Steel: What the Scunthorpe Rescue Says About the Return of the State

The UK government's takeover of British Steel has now cost taxpayers £235m, on top of £604m spent keeping the Scunthorpe works alive in 2019-20. With the plant reportedly losing £700,000 a day under Chinese owner Jingye, ministers are betting that higher output can restore profitability — even as a threatened 50% EU steel tariff looms over a sector that sends 78% of its exports to the bloc. The rescue is a test case for state intervention in heavy industry.

Abstract editorial illustration: two circles separated by a vertical line on a terracotta background
Company notice•Business•

Kraft Heinz to split into two companies a decade after merger

Kraft Heinz announced a tax-free spin-off into two independent, publicly traded companies — Global Taste Elevation Co and North American Grocery Co — with completion expected in the second half of 2026.

Steel mill and heavy industry: Russia prepares new support measures for metallurgy and coal
Wire item•Business•

Russia Orders New Support Measures for Metallurgy and Coal Industries

Deputy Prime Minister Alexander Novak instructed the Industry and Trade Ministry, the Finance Ministry and the Economic Development Ministry to work through initiatives of the largest companies and prepare support measures for Russia's metallurgical and coal industries, the cabinet press service said after an August 28 subcommission meeting on the stability of the financial sector and individual sectors of the economy.

Schematic diverging routes illustrating the overseas expansion directions of the 7-Eleven convenience store network considered by Seven & i Holdings across several regions
Company notice•Business•

Notice: Seven & i Holdings Eyes $13.6 Billion Overseas Expansion Under New CEO, Including Europe Foray and South America Debut

Seven & i Holdings, the Japanese parent of the 7-Eleven convenience store chain, is considering spending roughly 2 trillion yen ($13.6 billion) over the next several years on an overseas expansion that would include a new foray into Europe and a debut in South America, Nikkei Asia reported on 28 August 2025. The plan was outlined by Stephen Hayes Dacus, who became CEO of the group in May, in an interview with Nikkei.

Stylised illustration of a processor chip on a circuit board, symbolising Intel's foundry investment review announced with its second-quarter 2025 results
Company notice•Business•

Notice: Intel Beats on Q2 Revenue as CEO Lip-Bu Tan Slashes Foundry Investment — ‘No More Blank Checks’

Intel reported second-quarter 2025 revenue of $12.86 billion, above the $11.92 billion analysts expected, as new chief executive Lip-Bu Tan announced sweeping cuts to chip-factory construction, cancelled planned fabs in Germany and Poland, and said the company has completed the majority of its planned 15% workforce reduction, aiming to end the year with about 75,000 employees.

Stylised logistics and retail composition with container and route motifs, reflecting the cross-border convenience store consolidation attempt that collapsed in 2025
Company notice•Business•

Notice: Couche-Tard Withdraws $47 Billion Bid for Seven & i Holdings, Ending Year-Long Pursuit of 7-Eleven Owner

Canadian convenience store giant Alimentation Couche-Tard withdrew its approximately $47 billion takeover bid for Japan's Seven & i Holdings on 17 July 2025, citing a 'lack of engagement' from the target's board. The collapse of the year-long pursuit was seen as a litmus test for foreign M&A in corporate Japan and sent signals to activist investors about the limits of cross-border dealmaking.

Abstract isometric network of glowing geometric blocks connected by flowing light streams on a steel-blue background
Analysis•Business•

The GENIUS Act Gives Stablecoins a Federal Rulebook — and Puts the Payment Rails on Notice

The US Senate passed the GENIUS Act, the first federal framework for dollar-pegged stablecoins, opening issuance to banks, fintechs and retailers and threatening the Visa-Mastercard duopoly that moves most of the world's payments. With Treasury projecting the market could grow eightfold to over $2 trillion and JPMorgan already launching a deposit token, the law begins a long rewire of how value moves — and of who profits from it.

Rows of enterprise server racks symbolising the cloud security infrastructure Google is buying with its $32 billion acquisition of Wiz
Company notice•Business•

Google to Acquire Cloud Security Startup Wiz for $32 Billion in Its Largest Deal Ever

Google signed a definitive agreement to buy New York-based cloud security startup Wiz for $32 billion in an all-cash deal — its largest acquisition ever, topping the $12.5 billion Motorola purchase of 2012. Wiz, which walked away from a $23 billion offer in 2024, will join Google Cloud; closing is expected in 2026.

Two silver sedans facing in opposite directions at a crossroads outside a glass office building at dusk
Company notice•Business•

Nissan and Honda end $60bn merger talks

The boards of Nissan and Honda voted on 13 February 2025 to end merger talks that would have created a $60bn auto group, which would have been the world's fourth-biggest carmaker by vehicle sales. The two Japanese companies said they will continue to cooperate on electric vehicles.

A stylised postal envelope with an approval mark, illustrating the UK government's clearance of the takeover of Royal Mail's parent company by Czech investor Daniel Kretinsky
Company notice•Business•

Notice: UK Government Approves Daniel Křetínský's Historic Takeover of Royal Mail Owner IDS

In December 2024 the UK government approved the historic takeover of Royal Mail's parent company, International Distribution Services, by Czech billionaire Daniel Křetínský, with five-year undertakings covering asset sales, dividends, the £1bn pension surplus and net zero, plus a permanent UK headquarters and tax residence.

Two mobile network masts linked by glowing signal arcs above a city at dusk
Company notice•Business•

Notice: Vodafone Wins Approval for £16.5bn Merger With Three UK

The UK regulator cleared the £16.5 billion Vodafone–Three merger, creating the country's largest mobile operator with more than 27 million subscribers, subject to binding commitments including £11 billion of network investment.

Stylised market composition with rising share-price line, reflecting the investor response to Nike's September 2024 leadership change
Company notice•Business•

Notice: Nike CEO John Donahoe Steps Down as Veteran Elliott Hill Returns to Lead World's Biggest Sportswear Company

Nike announced on 19 September 2024 that CEO John Donahoe would retire on 13 October, to be replaced by company veteran Elliott Hill, who retired from Nike just four years earlier. Shares rose more than 9% in after-hours trading on the news. Donahoe, who joined the board in 2014 and became CEO in 2020, oversaw a challenging period marked by faltering demand in China, inflation and rising competition from On and Hoka.

A vast empty aircraft assembly hangar in steel-blue dusk light with a bare unmarked airliner fuselage in the distance
Analysis•Business•

Inside Boeing's Largest Factory: 'Panic Mode', Quality Fears and the Battle for the Production Line

Workers and union officials at Boeing's Everett plant describe a factory in 'panic mode' amid the safety crisis triggered by January's 737 Max 9 door plug blowout: managers accused of hounding staff over quality concerns, a 787 verification backlog, a new FAA investigation into possible falsified inspection records, and a deepening dispute over whether cost-cutting and union containment lie at the heart of Boeing's quality problem.

Abstract terracotta and amber editorial illustration with concentric rings, triangular shapes and horizon lines
Company notice•Business•

Exxon Mobil Clears FTC Hurdle, Poised to Close $60 Billion Pioneer Deal

The Federal Trade Commission reached a consent agreement with Exxon Mobil that clears the way for its roughly $60 billion all-stock acquisition of Pioneer Natural Resources, with one notable condition: Pioneer's former chief executive Scott Sheffield will be barred from joining the Exxon board.

Stylised market composition with diverging trend lines, reflecting the leadership upheaval at Paramount Global amid merger negotiations in April 2024
Company notice•Business•

Notice: Paramount Global Removes CEO Bob Bakish, Replaces Him with Three-Person 'Office of the CEO'

Paramount Global removed Bob Bakish as chief executive on 29 April 2024, replacing him with a newly created three-person 'Office of the CEO' comprising George Cheeks (CBS), Chris McCarthy (Paramount Media Networks) and Brian Robbins (Paramount Pictures). The leadership change came amid ongoing merger and sale negotiations and a prolonged decline in the company's stock price.

Stylised industrial facility with hangar and production structures, reflecting the manufacturing leadership shake-up at Boeing in 2024
Company notice•Business•

Notice: Boeing CEO Dave Calhoun to Step Down at End of 2024 After Alaska Airlines Door-Panel Blowout

Boeing announced on 25 March 2024 that president and CEO Dave Calhoun would step down at the end of the year following the January Alaska Airlines 737 Max door-panel blowout. Board chair Larry Kellner will not seek reelection; former Qualcomm CEO Steve Mollenkopf was named to lead the board's search for a successor. Boeing Commercial Airplanes chief Stan Deal also retired, with Stephanie Pope appointed to lead BCA.

Stylized chart of vertical columns of differing heights depicting the rapid growth of Russia's online retail market, where two marketplaces hold about 80% of turnover
Wire item•Business•

Russia's Antitrust Watchdog Finds Wildberries and Ozon Collectively Dominant With 80% of Online Retail

Russia's Federal Antimonopoly Service completed its competition analysis in December and established that Wildberries and Ozon hold a collective dominant position in online retail with a combined share of about 80%, opening the way to stricter antitrust regulation. Under the moratorium on IT-company inspections, the FAS is counting on the platforms voluntarily eliminating violations after complaints about logistics costs, imposed terms and fines.