U.S. chipmaker Intel has officially cancelled its plans to build a large-scale semiconductor plant in Germany, citing global streamlining efforts. The decision follows a suspension of the project last year and was announced alongside Intel's significant second-quarter net loss.

• Intel reported a net loss of 2.9 billion U.S. dollars in its second quarter.
• The planned factory in Magdeburg, Germany, was projected to cost 30 billion euros (35 billion U.S. dollars) and create 3,000 direct jobs.
• The German government had pledged approximately 10 billion euros in subsidies to support the project.

The US Federal Communications Commission (FCC) has approved the $8bn merger between Paramount Global and Skydance Media. This decision came shortly after Paramount Global settled a $16m legal dispute with US President Donald Trump.

• The merger was approved by a 2-1 FCC vote, with FCC head Brendan Carr welcoming Skydance's promises for changes at CBS, including an ombudsman for bias complaints and ending diversity, equity, and inclusion efforts.
• Paramount Global, founded in 1914, owns brands such as CBS, Paramount Pictures, and Paramount+, while Skydance is owned by David Ellison.
• The $16m settlement with Donald Trump over a CBS 60 Minutes interview with Kamala Harris was reportedly intended to clear the path for the merger's approval.