Table of Contents

• European Markets

• Paramount

• Microsoft

Top Stories Today

Economy & Finance

European Markets

French stocks experienced volatility on Monday following the country's parliamentary elections. The CAC 40 index closed down 0.6%, despite earlier gains, as investors reacted to the left-wing New Popular Front winning the most seats but failing to secure a majority, leading to concerns over a hung parliament. The euro remained steady against the dollar, while bond market trading was muted. European markets showed mixed responses, with the UK’s FTSE 100 slightly down, Germany’s DAX flat, and Italy’s FTSE MIB marginally up. Analysts expressed concerns over the New Popular Front's potential fiscal policies, adding to market uncertainty.

Paramount

Paramount Global and Skydance Media have agreed to merge, marking a transformative moment for the historic studio. Initially, Skydance and its partners will acquire National Amusements, which holds the Redstone family's controlling stake in Paramount, for $2.4 billion in cash. Following this acquisition, Skydance will merge with Paramount, providing $4.5 billion in cash or stock to shareholders and an additional $1.5 billion for Paramount's balance sheet. David Ellison, founder of Skydance, will become chairman and CEO of the new Paramount, with Jeff Shell, former CEO of NBCUniversal, as president. The merger aims to position Paramount as a tech-driven entity to adapt to the evolving entertainment landscape. This deal marks the end of an era for Shari Redstone, whose family built a media empire including Paramount Pictures, CBS, and various cable networks. The merger is expected to generate $2 billion in savings and address challenges posed by the streaming revolution.

Technology

Microsoft

Microsoft has instructed its employees in China to replace their Android devices with iPhones by September due to security concerns. This decision follows a series of cybersecurity incidents, including a breach by Chinese state-sponsored hackers who accessed email accounts of government employees and US companies through a vulnerability in Microsoft's software. The switch is part of Microsoft's broader effort to enhance security measures globally. The company has stated that Android phones will be blocked from accessing certain work services, with essential apps like Microsoft Authenticator only available on Apple's App Store in China.

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