The Gulf oil company chasing $50bn in deals
Plus, Italy’s rightwing government hits domestic banks with a surprise tax and Diageo’s liquor deal with Diddy turns sourMergers & Acquisitions
Climate politics has entered a new phase
The risks of ignoring the green energy transition have never been so acute Renewable energy
Abu Dhabi oil giant builds internal ‘investment bank’ to chase $50bn in global deals
Adnoc amasses 50-strong team as UAE state oil group seeks to diversify business and expand overseasMergers & Acquisitions
Disney’s ESPN moves into US sports betting with $2bn Penn Entertainment deal
Cable network agrees tie-up with casino and online gambling group that displaces Dave Portnoy’s Barstool SportsbookTravel & leisure industry, Mergers & Acquisitions
Rivian raises EV production guidance as supply problems subside
Company reports narrowing loss as volumes forecast to hit 52,000 this yearElectric vehicles
FirstFT: Google and Universal Music discuss deal over AI ‘deepfake’ songs
Also in today’s newsletter, China’s trade falls more than expected and TSMC to build €10bn plant in GermanyArtificial intelligence
UK accounting watchdog looks to tighten audit independence rules
Move to close potential loophole on how much income can be generated from a client Financial & markets regulation
Google and Universal Music negotiate deal over AI ‘deepfakes’
New technology that can mimic artists’ voices has been seen as growing threat Artificial intelligence
UK watchdog probes ‘de-banking’ and links to customers’ politics
FCA seeks to establish if practice is widespread in wake of Farage disputeFinancial & markets regulation
Wall Street groups fined $555mn by regulators over messaging violations
Wells Fargo and BNP Paribas among those penalised by SEC and CFTC for record-keeping ‘failures’Financial & markets regulation