Exclusive Soho House transitions to private ownership, securing a whopping $2.7 billion deal
In the world of business, Soho House is going private in a $2.7 billion deal, following a period of rapid global expansion that has helped popularize a new generation of less formal and business-oriented member clubs. However, concerns have been raised about the company's financial health, with a short seller arguing that Soho House has a broken business model and terrible accounting.
In the tech sector, Sam Altman, the president of Y Combinator, described artificial intelligence as a "bubble," but also emphasized that it is "the most important thing to happen in a very long time."
Moving on to investments, SoftBank will invest $2 billion in Intel, while the three-way agreement between the Tennessee Valley Authority, the nuclear firm Kairos, and Google will cover a 50-megawatt reactor built to provide power to Google's data centers in the state and neighboring Alabama.
On the political front, tensions are easing between the US and Brazil, as Brazil courts other nations to diversify trade due to US President Donald Trump's threats of a 50% tariff. This could potentially gain momentum from the easing of tensions, with analysts saying that the US tariff threats on both countries could help drive the process forward.
In a related development, China has built a huge export terminal close to São Paulo to increase its purchases of Brazilian soybeans.
Meanwhile, in the Middle East, Hamas reportedly accepted a ceasefire proposal similar to one previously agreed to by Israel. This proposal would see the release of Israeli hostages and Palestinian prisoners, and would require Israel to allow aid into the besieged territory. Tragically, at least 263 people have died of starvation there.
Israeli Prime Minister Benjamin Netanyahu has been facing intensifying international isolation and domestic discontent over his country's war in Gaza. In a series of strong statements, Netanyahu lashed out at the leaders of Australia and France over their pledges to recognize a Palestinian state, calling Australia's Anthony Albanese a "weak politician who betrayed Israel and abandoned Australia's Jews." He also blamed French President Emmanuel Macron's calls for Palestinian statehood for fueling antisemitism in France.
In other international news, European leaders said they will join Ukrainian President Volodymyr Zelenskyy when he meets US President Donald Trump at the White House on Monday, as they navigate Trump's alignment with Russia's position on ending the war. The US and its European allies are trying to hash out what security guarantees for Ukraine will look like.
Back in Brazil, the Brazilian Supreme Court judge prosecuting former President Jair Bolsonaro vowed to see the trial through, stating, "There isn't the smallest of possibilities of retreating."
Lastly, in a positive development for patients without health insurance in the US, the cost of Ozempic has been halved to $499 per month.
These are just a few of the many developments happening around the world. Stay tuned for more updates.
