Saudi Arabia’s sovereign wealth giant, assets ~$941B
Leaders are pressing ahead with a long‑running Heathrow expansion, arguing it would boost growth, even as London voices remain divided. Ministers are studying responses to the public consultation, while Heathrow’s owners warn a delay risks a misspent opportunity and investors demand clarity ahead of planning decisions.
LIV Golf is pursuing a 2.0 restructuring while facing a legal challenge from the DP World Tour over player releases and governance. The European tour is demanding players choose their associations, with deadlines looming as LIV seeks funding and a broader player equity model.
Prediction platforms Kalshi, Polymarket and Rothera have seen record or near-record volumes during June as the FIFA World Cup boosts activity. Kalshi and Polymarket report multi-billion notional volumes; open interest exceeds $1 billion on Kalshi and near $400 million on Polymarket’s international platform. U.S. volumes on Polymarket exceed $3.5 billion, with the U.S. event draw strong bets amid low odds of winning.
Bryson DeChambeau has incurred a two-shot penalty for inadvertently improving the area of his intended backswing on the fifth hole at Royal Birkdale. Lucas Herbert and Sam Burns share the Open lead after a record-tying second round of 62, while DeChambeau remains five under and potentially out of contention.
The PGA Tour, DP World Tour and Asian Tour have formalised a multi-year alliance through 2029, with some events co-sanctioned again and pathways for Asian players to reach European and Challenge Tour events. The move follows LIV’s weakened position after Saudi funding shifts, and prompts reactions from players such as Rory McIlroy.
LIV Golf is confronting a funding shortfall after the Saudi Public Investment Fund withdraws backing at year-end. The league is seeking about $260 million, with Indianapolis likely to host upcoming events and Michigan deemed unlikely. Investors’ decisions will shape LIV’s 2027 viability.
Newcastle United has appointed Matthias Jaissle as head coach to succeed Eddie Howe. Jaissle, 38, arrives from Al Ahli with a track record of high‑intensity, attacking football and a trophy‑laden spell in Asia. The club aims to rebuild after a difficult 2025-26 season and a flurry of summer departures.
Electronic Arts has been taken private in a $55 billion deal led by Saudi Arabia's PIF, with Silver Lake and Affinity Partners. The move delists EA from Nasdaq and adds $20 billion in debt. Analysts expect a focus on core franchises and potential cost-cutting. Regulators approved the deal, and governance implications are under scrutiny.
Lucid Motors has postponed the Cosmos midsize EV to the second half of 2027 as part of a broader leadership overhaul and cost-cutting plan. The company reports a Q2 loss of about $1.26 billion with liquidity of roughly $3 billion and is tightening governance, cutting thousands of jobs, and delaying product launches to fix quality and manufacturing issues.
LIV Golf has secured multiple written commitments from blue‑chip firms that would provide anchor funding after Saudi PIF pulled support; CEO Scott O’Neil has been pursuing $250–$300m and sources say term sheets envision players holding majority equity and events continuing across five continents. Meetings are scheduled at the New Jersey event and a deal was expected in September.
Multiple recalls target GM’s brake-by-wire system and Kia’s Occupant Detection System, affecting over 1 million vehicles. NHTSA investigations link spindle fractures to loss of braking in several models. Recalls will replace faulty components and advise seating adjustments to minimize risk.
LIV Golf has announced staff reductions as it seeks a new lead investor to fund a revamped LIV 2.0 after Saudi PIF ends its backing. The move follows the 2026 season’s end and a canceled Detroit finale, with a timetable that hinges on securing capital and obtaining player buy-in.
The UAE’s UAE-US AI Campus is shifting from a 10-square-mile Abu Dhabi campus to a network of data centres across the UAE. Authorities aim to protect facilities from drone and missile attacks, with underground options explored. OpenAI, Nvidia, Oracle, Cisco and Stargate partners say work continues as geopolitical tensions influence plans.
The breakaway LIV Golf has filed for bankruptcy protection in New Jersey as it plans a restructuring and a return in a new form. Rahm has signalled he may return to the PGA Tour if opportunities open, and European hopes hinge on next year’s Ryder Cup at Adare Manor.
LIV Golf has filed for Chapter 11 bankruptcy in New Jersey and has agreed a restructuring with BC Partners while Saudi Arabia's Public Investment Fund has provided $49.6m in debtor-in-possession financing. The company has listed $500m–$1bn in liabilities, plans a player-majority ownership model and aims to return in 2027.
The LIV Golf breakaway has filed for Chapter 11 in the United States as Saudi PIF withdraws backing and BC Partners steps in with financing. The move aims to preserve LIV as a going concern while reshaping ownership, with talks of a return by stars to the PGA Tour and DP World Tour as contracts are renegotiated or cancelled.
The PGA Tour has detailed a two-tier framework—Championship Series and Challenger Series—set to launch in 2028. The plan includes a Last Chance Series for three top-tier cards, revised exemptions, and a structured points system. DP World Tour links remain under discussion as talks continue, with past major winners retaining extended eligibility.
Paramount Skydance faces antitrust litigation blocking its merger with Warner Bros. Discovery. A California-led legal challenge threatens to push Paramount’s headquarters and thousands of jobs out of California, triggering a potential $10.6–$21.2 billion hit to state output and hundreds of millions in tax losses. The LAEDC warns the move could reshape Hollywood’s economic center.
LIV Golf has filed for Chapter 11 bankruptcy protection in the United States, owing about $45m to players. The move signals a reboot for LIV 2.0, but the path back to the PGA Tour and DP World Tour remains uncertain as contracts, funding and format are renegotiated. Top players are weighing departures as the sport reorganises.
The DP World Tour has revised its 2027 calendar as the Ryder Cup moves Ireland-ward, prompting date shuffles for key events and a reordering of the European circuit’s calendar. Several tournaments relocate in the lead-up to the 2027 season, with Wentworth and other Rolex Series events affected along with national opens and Open Qualifying Series slots.
Ceer has unveiled its Exobot sedan and SUV at a ceremony in King Abdullah Economic City, marking the first two vehicles from Saudi Arabia’s homegrown electric-vehicle brand. The launch signals a broader push under Vision 2030 to localize manufacturing, create jobs, and position the Kingdom as a regional EV hub.
Saudi Arabia has reaffirmed its commitment to regional stability as Gulf security ties deepen. Leaders cite de-escalation efforts and a trilateral defense framework with Turkiye and Pakistan, while warning that attacks by Yemen's Houthis will be met with decisive responses. The king and crown prince are outlining continued military and diplomatic measures amid recent confrontations in the Red Sea and border areas.
British and Saudi officials argue for a broad, long-term security architecture to protect sovereignty and the global economy. Warnings of Al-Shabab–Houthis cooperation and potential impacts on Red Sea shipping come amid ongoing tensions in the Gulf and Horn of Africa.
Lucid has reported third-quarter results showing continued production and delivery challenges, with CEO Silvio Napoli steering cost-cutting and a shift in strategy as the Cosmos is delayed. Rivian surges in production, underscoring a competitive EV market while Lucid campaigns to widen its addressable market.
BC Partners Credit has committed an initial $300 million to LIV Golf’s restructuring, subject to bankruptcy court approval. The funding aims to propel LIV Golf into 2027, with a promised player-owned, globally oriented league as the core ambition. Hearings are set to address the terms and next steps as the league negotiates with creditors and players.
Saudi tech adviser Abdulrahman Alfozan has been charged after a hidden recording device was found in an OpenAI conference room. Investigations show he advised Saudi agencies and joined RAED Ventures as a venture partner; OpenAI says the device is linked to him, and officials warn that AI security is a national priority.