GameStop refuses to walk away from eBay bid
GameStop announced Friday it will press ahead with its unsolicited $56 billion takeover offer for eBay, despite the e-commerce company's board unanimously rejecting the proposal. The videogame retailer said it remains confident in the strategic rationale and is prepared to take its case directly to eBay shareholders. The bid, a mix of cash and stock, would be one of the largest retail-sector acquisitions in history.
Volkswagen considers 100,000 job cuts in biggest overhaul yet
Volkswagen's CEO is targeting up to 100,000 job cuts and four plant closures in what sources describe as the German automaker's most aggressive restructuring yet. The plan aims to slash costs by €10 billion annually as VW struggles with the transition to electric vehicles. Union leaders have vowed to resist, setting up a tense battle over the future of Germany's industrial backbone.
Trump threatens 100% tariff over digital services taxes
President Trump threatened a 100% tariff on imports from any country that imposes digital services taxes on US tech companies. The warning targets European nations including France, Italy, and the UK that have pursued or enacted taxes on digital advertising revenue. The US goods trade deficit hit a 14-month high in May, driven by a surge in imports, the Commerce Department reported Friday.