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EA, billions of dollars in debt, likely to undergo ‘mass layoffs’ with Saudi Arabia deal finalized
Electronic Arts has completed its $55 billion sale to a consortium of investors including Saudi Arabia’s Public Investment Fund, a deal that netted shareholders around $210 per share but has raised fears of significant job cuts. To help finance the acquisition, EA took on roughly $18 billion in debt alongside $36 billion in equity, and…
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Saudi-acquired EA is reportedly planning to make massive cuts after taking $18 billion of debt, and we all know what that means
Electronic Arts, which was recently acquired in a $55 billion buyout led by Saudi Arabia’s Public Investment Fund alongside Silver Lake and Affinity Partners, is reportedly preparing significant job and studio cuts. The deal loaded EA with roughly $18 billion in debt, and such heavily leveraged buyouts have historically been followed by cost-cutting drives to…
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Former UN ambassador: Iran ‘uncertain’ how to handle Trump
Former U.S. Ambassador to the United Nations Mark Wallace on Tuesday said Iran is “uncertain” on how to handle President Trump as both countries enter talks to potentially reach another interim peace deal. Wallace, who is also the CEO of the nonprofit group United Against Nuclear Iran, praised Trump’s military campaign against Iran in an…
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UN rights chief alarmed by rise in Iran executions since March
The UN’s human rights chief, Volker Türk, has said he is alarmed by a sharp rise in executions in Iran since March, warning that capital punishment is being used “to instil fear among the population and suppress dissent”. He urged Iranian authorities to halt all executions and move towards abolishing the death penalty, citing serious…
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Fetterman gives Dems a stinging reality check as Mao-praising communists seize the spotlight
Democratic Senator John Fetterman has publicly criticised his own party for tolerating a drift towards socialism and communism, singling out figures who have praised Mao Zedong as an influence he considers “foreign to any Democrat”. Speaking at the Israel on Campus Coalition conference, the Pennsylvania senator warned that increasingly radical, anti-Israel voices within the party…
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MIKE PENCE: Congress must finish Lindsey Graham’s fight against Putin
Former Vice President Mike Pence has written an opinion piece calling on Congress to complete legislative work championed by the late Senator Lindsey Graham aimed at pressuring Russian President Vladimir Putin over the war in Ukraine. Pence praises Graham, who died recently, as a steadfast advocate for American strength as the best guarantor of peace,…
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EA Studios Brace for Layoff Bloodbath as New Owner Debt Demands $700 Million Cost Cuts
Electronic Arts is reportedly preparing widespread cost-cutting measures, including likely layoffs and studio closures, as it works to pay down the roughly $18 billion (£14 billion) debt taken on during its recent buyout. The buyout, by a consortium comprising Saudi Arabia’s Public Investment Fund, Silver Lake and Affinity Partners, was completed the day before this…
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Trump: Deal to reopen Strait of Hormuz could come Wednesday
President Trump signaled late Tuesday that the U.S. and Iran were close to a deal to reopen the Strait of Hormuz, a key oil-shipping corridor. “It could happen. Tomorrow or the next day,” Trump said after traveling to Los Angeles for a fundraising event hosted by the Republican National Committee. “A lot of progress has…
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Average cost of filling family car hits £100 as pump prices soar again thanks to Iran war dragging on, hitting millions on their summer holidays and piling pressure on Labour to scrap planned Fuel Duty hike
The average cost of filling up a family car has surged to as much as £100, as pump prices continue to climb amid the ongoing war in Iran. Petrol and diesel prices have both hit new post-war highs, squeezing motorists just as millions of Britons take to the roads for their summer holidays, and adding…
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Boy George claims Bandcamp “bowed to the pressure of antisemites” for removing his pro-Israel song and hits out at their AI policy
Boy George has accused Bandcamp of removing his 2024 song “Cha Cha Cha” – which addressed the Israel-Gaza conflict from a pro-Israel perspective – after complaints from what he called antisemitic critics. The singer’s comments add him to a growing list of musicians publicly clashing with streaming and hosting platforms over perceived political bias and…