Comcast plans to spin off NBCUniversal and Sky into a separate publicly traded company, giving shareholders stock in both businesses. The planned tax-free separation is expected to be completed in about a year.
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British American Tobacco will cut 5,500 jobs and outsource 3,500 more as part of a transformation plan expected to save £600 million a year by 2028. The company said its U.S. business will not be affected.
South Korea plans more than $1 trillion in investments to expand chipmaking, AI data centres and robotics infrastructure. President Lee Jae Myung says the effort is aimed at securing AI leadership and reviving regions beyond Seoul.
Abdikerm Abdelahi Eidleh, accused of being a leading figure in the $250 million Feeding Our Future fraud case, was arrested in Mogadishu after more than four years as a fugitive. U.S. officials said the FBI worked with Somali intelligence agencies to take him into custody.
New York City’s Rent Guidelines Board voted 7-1 to freeze rent increases on one- and two-year leases for roughly 1 million rent-stabilized apartments. The decision fulfills a key campaign promise by Mayor Zohran Mamdani and drew both praise from tenant advocates and criticism from property owner groups.
Trump said any country that imposes a digital services tax on American companies would face an immediate 100% tariff on all goods sent to the United States. The warning comes amid trade talks with the European Union and continuing tensions over taxes aimed largely at U.S. tech firms.
California Gov. Gavin Newsom is proposing a federal minimum tax on billionaires and a national AI equity fund while opposing a billionaire tax on California’s November ballot. He says wealth taxes should be handled nationally and that AI gains should help support workers and public programs.
Billionaire Leon Black is set to testify behind closed doors before House investigators examining Jeffrey Epstein’s network. Lawmakers are expected to question him about roughly $170 million in payments he made to Epstein between 2012 and 2017.