Saudi Arabia’s sovereign wealth giant, assets ~$941B
Culture secretary has said she is minded to intervene in the Paramount-WBD merger on public-interest grounds, triggering regulatory scrutiny by Ofcom and the CMA. A final decision has not been taken; Paramount and WBD face a response deadline, with potential timelines extending into Q3 2026.
Prediction markets have seen a surge in notional volume in June as FIFA World Cup excitement sustains trading on Kalshi, Polymarket, and Rothera. International platforms report sustained high open interest and volumes, while regulators monitor market integrity amid heightened activity.
Lucid Motors has denied bankruptcy or going-private reports. It says liquidity remains strong enough to fund operations into 2027, with AlixPartners reviewing the business to improve execution and focus on the Gravity SUV. The firm has undergone leadership and workforce changes amid ongoing restructuring.
The Genesis Scottish Open at The Renaissance Club has a star-studded field, including Rahm and six other LIV players, as DP World Tour and PGA Tour co-sanctioning shapes a reshape of the Rolex Series. The event is amid talks on a new two-tier PGA Tour schedule, with promises of exemptions and鈥? changes that could redefine national Opens.
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 signed an agreement with a lead investor approved by its board to fund the league beyond 2026, pledging to make players majority equity holders and to reduce to a 10-event calendar from 2027. CEO Scott O’Neil has said the transaction aims to close in September and that multiple parties have shown interest as minority investors.
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, introducing a Championship Series and Challenger Series from 2028, with a Last Chance Series offering three cards. The DP World Tour’s role in the new system remains under discussion as talks continue. Exemptions for past major winners are extended; DP World Tour players face a new pathway question.
Paramount Skydance has reached a settlement with California and other state attorneys general and the Writers Guild to clear the path for its Warner Bros. Discovery merger. The agreement pledges 30 films per year and domestic production investment while preserving protections for workers and editorial independence for certain channels. The deal is framed as consumer- and worker-protective, but analysts warn it could reduce competition and raise prices.
LIV Golf has filed for Chapter 11 bankruptcy protection, leaving a path unclear for star players like Jon Rahm, Bryson DeChambeau and Cameron Smith. The PGA Tour states it is not planning a returning-member program this year, while discussions with the DP World Tour over how players may progress to the US circuit continue. The saga signals a shift in leverage as the sport reorganises for a possible 2028 structure.
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.