Finance

A Nevada probate court has released a 96-page decision describing an effort led by Lachlan Murdoch’s deputy, Siobhan McKenna, to alter the Murdoch family trust deed to keep control of News Corp and Fox Corp with Lachlan. Lachlan Murdoch and Rupert Murdoch later paid $5 billion for James, Prudence and Elisabeth Murdoch to give up their voting rights in the trust. The settlement left News Corp able to maintain its existing editorial direction.

The U.S. FDA has approved Moderna’s mFLUSIVA, making it the first mRNA-based influenza vaccine, for adults ages 50 and older. The shot also received accelerated approval for adults ages 65 and older. Experts say the vaccine adds an important new option for flu prevention, rather than replacing existing flu vaccines.

Morgan Stanley plans to invest just over $587 million in a permanent office building in Dallas, with the site expected to house around 3,800 employees by the end of 2035. The bank also committed to hiring Dallas residents for at least 25% of relocated or newly created roles, and it must submit a local recruiting plan by the end of 2027. Goldman Sachs is also investing $500 million in a new Dallas campus that it says will be its largest U.S. workforce outside New York City, with more than 5,000 employees expected to work there. The number of applicants to Goldman Sachs’ Dallas program has risen 52% over the past five years.

The Trump administration has returned more than $100 billion in IEEPA-related tariffs, about 60% of what was collected. Walmart received about $2.9 billion in refunds. Target took in $994 million and used it to lift margins, contributing $1.65 to earnings per share. Amazon and Home Depot received roughly $600 million and $730 million, respectively.

Tirupati Foam Limited said all resolutions at its annual general meeting were passed with 100% support, including approval of the financial statements, director reappointments, a dividend declaration, cost auditor remuneration, an independent director’s term and the disposal of assets in Noida. The company reported no dissenting or invalid votes. Separately, it said net profit in Q1 FY27 rose by nearly 60% year-on-year.

Paramount is expected to meet with the California attorney general’s office on Monday to discuss a potential settlement over its $111 billion merger with Warner Bros. Discovery. California Attorney General Rob Bonta, joined by a 12-state coalition, sued in July alleging the deal would unlawfully narrow competition in theatrical distribution and basic cable. Paramount has pledged to make 30 films a year for the next three years and keep them exclusively in theaters for at least 45 days. The Writers Guild of America has filed a separate lawsuit that is set to be tried alongside the states’ case next March.

The National Highway Traffic Safety Administration has expanded its recall-related investigation into General Motors’ L87 6.2 liter V8 engine to cover two additional model years, spanning eight vehicle lines. The pool of potentially affected vehicles in the United States grew from 597,630 to 997,743. GM has funded two different repair paths, but NHTSA says it continues to receive complaints from owners after dealership visits.

Bitcoin rose nearly 25% over the past week, and when it traded around $64,000 on Tuesday, a single day saw $1.3 billion in short liquidations. Another $1 billion in shorts were liquidated over the following 48 hours, bringing the week’s total to $4.5 billion. Meanwhile, Hyperliquid posted more than $633 billion in combined spot and perpetuals volume in the first quarter, more than six times its total in the second quarter of 2024.

Shares of Strategy, formerly MicroStrategy, jumped this week alongside Bitcoin’s rally, turning its Bitcoin holdings from an estimated $13 billion loss into a $1.4 billion gain. Bitcoin rebounded more than 20%, climbing from a multimonth low near $63,000 to above $77,000. The company holds about $65 billion worth of Bitcoin, roughly 4% of the circulating supply, with an average cost basis of $75,385. Strategy’s core enterprise software business generated $477 million in revenue last year.

The U.S. Court of Appeals for the Eleventh Circuit overturned the Department of Transportation’s decision to terminate Delta Air Lines’ immunized joint venture with Aeromexico, allowing the partnership to continue. The court said the DOT focused only on the Mexico City market rather than the broader U.S.–Mexico market analysis used when the pact was first approved in 2016. On U.S.–Mexico routes, American Airlines holds just over a 20% seat share, compared with just under 20% for the Delta–Aeromexico venture, while Mexico’s low-cost carrier Volaris has 19%, according to Cirium schedule data. The joint venture resumed after Mexico was returned to the FAA’s Category 1 safety rating in 2023.