On Monday, media watchdog organization Media Matters filed a legal motion seeking to block an ongoing investigation by the U.S. Federal Trade Commission (FTC). The probe examines whether the group coordinated advertising boycotts targeting Elon Musk’s social platform, X (formerly Twitter), and other publishers based on their political content or affiliations.
T-Mobile US Inc. $TMUS has confirmed the commercial rollout of its satellite-based data service, developed in partnership with Starlink, a division of SpaceX, beginning in October 2025. This development marks a pivotal step in the U.S. telecom landscape, as traditional wireless infrastructure meets next-generation low Earth orbit (LEO) satellite capabilities.
Visa Inc. $V, the world's largest card payment network, has successfully fended off a proposed class action lawsuit filed by U.S. consumers who alleged that the company failed to disclose the vulnerability of its Vanilla-branded prepaid gift cards to theft and fraud. The ruling, delivered by U.S. District Judge Gregory Woods in Manhattan, marks a significant legal win for the payments giant in a growing wave of litigation targeting digital and card-based financial services.
A renewed wave of geopolitical uncertainty in the Middle East has reignited concerns of an energy price shock, with Brent crude and WTI crude both seeing upward pressure. Historically, such price spikes tend to hit oil-importing economies hardest, especially when accompanied by a strong U.S. dollar (USD). However, a rare window of USD weakness is offering temporary relief to countries outside the U.S., mitigating the inflationary and fiscal stress typically associated with surging oil prices.
In a landmark decision for the global advertising and media landscape, the U.S. Federal Trade Commission (FTC) has conditionally approved Omnicom Group’s $OMC proposed $13.5 billion acquisition of its primary competitor, Interpublic Group $IPG. The ruling allows the consolidation of two of the world’s largest advertising agencies, provided the new entity refrains from engaging in politically motivated ad placement practices. The regulatory approval marks a significant antitrust precedent under current enforcement trends and signals evolving standards for mergers in sectors that influence media and public discourse.
Novo Nordisk A/S $NOVO-B.CO, a global leader in diabetes and obesity care, released full data on Sunday from two pivotal Phase III trials of its experimental combination therapy, CagriSema, designed for chronic weight management. The Danish pharmaceutical company emphasized that side effects were mostly mild to moderate and confirmed positive secondary outcomes such as improvements in glycemic control.
Italian luxury fashion house Prada S.p.A. $1913.HK has confirmed that Gianfranco D’Attis, the CEO of the Prada brand, will step down at the end of the month. The company stated that the decision was reached “by mutual agreement.” Andrea Guerra, the Group CEO of Prada, will assume the brand’s chief executive duties on an interim basis.
In a move that could reshape the U.S. custody banking landscape, Bank of New York Mellon Corp $BK has reportedly initiated merger discussions with Northern Trust Corp $NTRS. According to The Wall Street Journal, the two institutions held preliminary conversations last week, although no formal proposal has been submitted and talks remain exploratory.
Tesla Inc. $TSLA is making a pivotal move in its long-promised autonomous vehicle strategy, launching a limited, paid robotaxi service in Austin, Texas. The rollout, set for Sunday, June 23, marks the first tangible test of Elon Musk’s vision for a self-driving future — one in which Tesla vehicles operate entirely without human drivers.
On June 20, Kroger Co. $KR, one of the largest grocery chains in the United States, announced a significant operational restructuring. The company plans to close 60 stores over the next 18 months, representing approximately 2% of its total footprint across 35 U.S. states. While specific locations have not been disclosed, the closures mark a clear move to enhance financial efficiency and streamline underperforming assets.
At the start of 2025, Wall Street entered the year with bullish expectations for Chinese equities. Institutional investors were largely positioned in favor of a rebound in mainland Chinese stocks, betting that Beijing would deploy robust fiscal and monetary stimulus to offset mounting pressure from U.S. tariffs and domestic economic fragility.
Frederick W. Smith, the founder and executive chairman of FedEx Corporation $FDX, has died at the age of 80. His passing marks the end of an era for the global logistics and transportation industry. Smith's bold vision, conceived during his time at Yale University, redefined international shipping and positioned FedEx as a cornerstone of global commerce. His death prompts both a reflection on the company's history and questions about its future trajectory in a rapidly evolving market landscape.
