Deal Financial News

ESPN agreed to a $2 billion deal to allow its brand to be used in Penn Entertainment’s online sportsbook, a strategic turn for both companies as they try to tap into the sports-betting sector’s growth. Penn Entertainment, whose shares surged more than 20% after hours on news of the pact, said its Barstool Sportsbook app would be rebranded as ESPN Bet this fall as part of the 10-year agreement. In addition to $1.5 billion in cash over the term of the agreement, ESPN will receive warrants worth about $500 million to purchase shares in Penn.

Prime Big Deal Days will occur include Australia, Austria, Belgium, Brazil, Canada, China, France, Germany, Italy, Japan, Luxembourg, Netherlands, Poland, Portugal, Singapore, Spain, Sweden, the U.S., and the UK. “We’ll share more details soon as we get closer to the event. We can’t wait to give our Prime members access to exclusive early savings this season," says Amazon in its blog post.

port dispute, including a commitment by employers to train workers to perform maintenance on new equipment.Contracting out of maintenance work to third parties had been one of the most contentious issues during the months-long dispute between the International Longshore and Warehouse Union Canada and the BC Maritime Employers Association.The four-year agreement also contains several terms about workers’ compensation.They include increases in the “Modernization and Mechanization retirement lump sum,” bringing that payout to $96,250 in 2026 for eligible retirees, over and above normal pension entitlements.The union representing about 7,400 workers said last Friday its members voted almost 75 per cent in favour of ratifying the new deal, ending a dispute that included a 13-day strike and halted movement of cargo worth billions.The deal features general wage increases of five per cent annually for the next two years, and four per cent for the two years after that.Those raises will boost hourly wages to a base rate of $57.51 by 2026.The new terms commit employers to “provide appropriate training to Journeyman Tradesperson … on how to perform regular maintenance work (within) the scope of their trade on new equipment and existing equipment.”

ESPN the sports media giant. Now brace yourself for ESPN Bet, a rebranding of an existing sports-betting app owned by Penn Entertainment, which is paying $1.5 billion plus other considerations for exclusive rights to the ESPN name. The deal, announced Tuesday, could take Walt Disney Co.-owned ESPN into uncharted waters.

(Reuters) — Walt Disney (NYSE:DIS)'s ESPN and PENN Entertainment have partnered to launch a sports betting business under the brand ESPN Bet, the two companies said on Tuesday.

Ryan Salame, the former co-CEO of FTX Digital Markets, is reportedly discussing a guilty plea with authorities in the United States.

An Australian technology investor has entered a partnership with a UK-based investment banking and advisory shop, in a bid to match local tech companies with overseas sources of capital.

MUMBAI : Subhash Chandra’s Essel Group-owned Zee Learn Ltd on Tuesday confirmed signing a settlement agreement with JC Flowers Asset Restructuring Co. (ARC). Zee Learn is among Essel Group companies with a total exposure of ₹6,500 crore with JC Flowers ARC, which Chandra has been trying to settle.

MILAN (Reuters) -The Italian government aims to agree a broad plan to 2030 for the country's automotive industry with carmaker Stellantis and other groups involved by the end of this year, industry ministry sources said on Tuesday.

By Savyata Mishra

(Bloomberg) — LNG Japan Corp. agreed a deal worth as much as $880 million for a stake in a giant natural gas project off Australia, a new step to secure supply of a fossil fuel the nation expects to retain a key role in its energy mix.

The investor group wants to move the EGM to on or around 31 August to reflect the extension of Liontrust's offer period.

Data centre business AirTrunk and its big-bank syndicate are poised to rule off the whopper $4.76 billion sustainability-linked loan launched in mid-June.

TPG Capital’s $1.8 billion pursuit of InvoCare appears to be finally over, with the private equity firm and its funeral services provider target agreeing to terms for a binding offer on Tuesday, sources told Street Talk.

Paytm announced that Sharma entered into an agreement to purchase a 10.30% stake in the company from Antfin (Netherlands) Holding BV. Antfin will transfer 6.53 crore shares of Paytm to Resilient Asset Management B.V., an entity in which Sharma owns the complete 100% stake.

Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister Ishaq Dar.

Private equity firm Advent International is nearing a deal to acquire Zimmermann in a transaction valuing the Australian fashion brand at about $1 billion ($1.5 billion), people familiar with the matter said.

Downer EDI’s asset spin-off spree has hit a speed bump, while its investors reel from last week’s profit hit.

A claim by a family owned company for royalties flowing from Gina Rinehart’s Hope Downs mine relies on a “futile attempt to rewrite” a key deal between Lang Hancock and Pilbara pioneer Don Rhodes, lawyers for Hancock Prospecting say.

The United Arab Emirates Ministry of Climate Change and Environment (MCCE) is developing a carbon credit system in a preliminary partnership with the Industrial Innovation Group and the Venom Foundation.

By Foo Yun Chee