Germany faces political turbulence as Merz falls short by six votes in a secret ballot, delaying his swearing-in.

Friedrich Merz, leader of Germany’s Christian Democratic Union (CDU), failed in his first attempt to become chancellor after falling short in a critical Bundestag vote — an unprecedented development in postwar German politics.

Despite forming a coalition majority with the Social Democrats and securing 328 out of 630 seats in parliament, Merz received only 310 votes in Tuesday’s secret ballot. He needed 316 to secure the position. In contrast, 307 lawmakers voted against him, with three abstentions, one invalid vote, and nine members absent.

This surprising outcome stalls what was expected to be a routine confirmation, casting uncertainty over Merz’s ability to lead a stable government. The next vote is scheduled later Tuesday, but the damage to his political standing may linger.

First Defeat of Its Kind in Postwar Germany

“This is a shock,” said Professor Henning Meyer of Tübingen University. “It’s never happened before at the federal level. Clearly, there are disgruntled people within the coalition.”

If Merz fails again in subsequent rounds over the next 14 days, a final vote will require only a simple majority — more “Yes” than “No” votes — rather than an absolute majority. Should he still fall short, German President Frank-Walter Steinmeier can either appoint another chancellor or call for new elections.

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Market Reaction and European Fallout

The political uncertainty rattled financial markets. Germany’s DAX index dropped 1.3%, while the pan-European Stoxx 600 fell by 0.7% following the vote.

Merz’s failure to secure confirmation on his first attempt is not just a domestic issue. He had been scheduled to visit Paris on Wednesday for a key diplomatic meeting with French President Emmanuel Macron — now overshadowed by his political stumble.

“The whole of Europe looked to Berlin today in the hope that Germany would reassert itself as an anchor of stability,” said Jana Puglierin of the European Council on Foreign Relations. “That hope has been dashed, with consequences well beyond our borders.”

Internal Rifts Emerge Within Coalition

Merz’s defeat also exposed fractures within his coalition. Analysts believe at least five coalition MPs voted against him. Uwe Jun, a political scientist at Trier University, called it “a huge surprise,” noting clear internal opposition to Merz’s leadership.

Critics from Merz’s own CDU/CSU bloc have expressed discomfort with his policy direction, particularly his decision to ease Germany’s constitutional debt limits and initiate a €1 trillion investment package for military upgrades and infrastructure modernization.

Meanwhile, his Social Democratic coalition partner is grappling with its own woes. Party co-leader Lars Klingbeil, tapped to be vice-chancellor and finance minister, has faced backlash after the SPD’s poor electoral showing, managing just 16% of the February vote.

Calls for New Elections Surface

Far-right Alternative for Germany (AfD) co-leader Alice Weidel quickly seized on the result, calling for snap elections and claiming the failed vote revealed the “shakiness of the foundation” of Merz’s coalition.

Economists echoed concerns over Germany’s future political direction. “This shows that the coalition is not united, which could weaken Merz’s ability to pursue policies,” said Holger Schmieding, chief economist at Berenberg Bank. “It’s a significant negative for the German economy.”

What’s Next?

For now, Olaf Scholz remains acting chancellor while Merz scrambles to secure enough votes in the next round. While political experts say he still has a pathway to office, his authority may be permanently undermined before he even takes power.

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South San Francisco-based biotech firm Unity Biotechnology, once valued at $700 million, has laid off its entire workforce — including CEO Anirvan Ghosh — as it struggles to stay afloat.

In a press release and SEC filing issued Monday, the company confirmed it will let go of all remaining employees by May 15, turning instead to part-time consultants to tie up loose ends and assist in exploring “strategic alternatives.” These include selling off assets, merging with another company, or potentially shutting down completely.

Unity’s dramatic step comes amid years of downsizing and financial losses. The firm — known for its once-promising research into aging and age-related diseases — peaked with 65 employees in 2021 but had just 16 remaining by the end of 2024. As of March, Unity reported $16.9 million in cash reserves. Severance packages and related costs from this latest move are expected to cost around $3.7 million.

CEO to Stay On — Part-Time

CEO Anirvan Ghosh, along with the company’s CFO and chief legal officer, will transition into consulting roles and receive severance payments ranging from nine to 12 months of their salaries. Ghosh will remain on to help finalize data from Unity’s lead drug candidate — a treatment for diabetic macular edema — and assist with any upcoming partnerships. Full trial results are expected to be presented Wednesday.

Despite the layoff announcement, Ghosh used Monday’s statement to promote the company’s drug development prospects, suggesting that the eye disease program could still attract interest from companies with existing infrastructure in ophthalmology.

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From Anti-Aging Hype to Collapse

Unity was founded with bold ambitions: to develop therapies targeting senescent cells — cells that stop dividing but don’t die, contributing to tissue degradation and aging-related diseases. The idea drew early attention from high-profile investors like Jeff Bezos and Peter Thiel and media coverage from outlets such as Forbes and CNBC.

Back in 2018, co-founder Nathaniel David told CNBC: “The time has finally arrived that our knowledge of biology and our sophistication level is sufficient that we can attack some of these fundamental, underlying causes of aging.”

That vision never materialized. A major osteoarthritis trial failed in 2020, followed by disappointing results from an eye disease study in 2023. Despite the optimism, Unity has burned through more than $510 million in investor funds without bringing a single drug to market — a risk not uncommon in the biotech world, but a devastating blow nonetheless.

Market Cap Plunges

As of Monday, Unity’s market valuation stood at just $19 million — a far cry from its IPO valuation of $700 million in 2018. The company has not responded to media inquiries regarding its current status or future plans.

What began as a promising biotech startup aiming to redefine aging may now be nearing its final chapter. Unless Unity can strike a deal or offload its remaining assets, the once-celebrated firm may soon disappear altogether from the life sciences landscape.

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President Donald Trump is set to host newly elected Canadian Prime Minister Mark Carney at the White House today, following weeks of escalating tension over tariffs and Trump’s repeated claims that Canada should become the “51st state” of the United States.

A Strained Start to a Critical Relationship

The meeting comes just days after Carney’s center-left Liberal Party won a closely contested election in Canada. Trump’s aggressive rhetoric and steep tariffs on Canadian goods became major flashpoints during the campaign — and, ironically, may have helped fuel Carney’s political comeback.

“As I’ve been warning for months, America wants our land, our resources, our water, our country,” Carney declared on election night. “These are not idle threats. President Trump is trying to break us so America can own us. That will never, ever happen.”

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Trump’s Annexation Talk Fuels Outrage

Trump has suggested multiple times that the U.S. could annex Canada — using economic power, not military force. In an interview on NBC’s Meet the Press this past Sunday, Trump said it was “highly unlikely” the U.S. would use military action, but added: “It could happen.”

“If Canada was a state, it wouldn’t cost us,” Trump told NBC. “It would be such a great — it would be a cherished state.”

Trump claims persistent trade deficits with Canada justify tough action. His administration recently slapped a 25% tariff on a range of Canadian goods. The president has also mocked Carney’s election results, noting that the Liberal Party failed to win an outright majority in Parliament.

“He’s coming to see me. I’m not sure what he wants to see me about,” Trump said Monday. “But I guess he wants to make a deal. Everybody does. They all want to make a deal because we have something that they all want.”

A Chance to Cool the Fire

The visit offers both leaders a potential opportunity to de-escalate. While trade is expected to dominate the agenda, Carney has indicated that this will only be the first step in a longer negotiation process.

Carney, a former Bank of Canada and Bank of England governor, replaced Justin Trudeau as Liberal leader after Trudeau resigned in January. The party’s fortunes had been sagging in the polls — until Trump’s annexation remarks sparked a nationalist backlash in Canada, rallying voters behind Carney’s assertive posture.

“President Trump single-handedly helped the Liberal Party recover from a very large popular-opinion deficit in Canada to win the election, ironically,” said Jon Parmenter, a historian at Cornell University.

A Popular Message: ‘Elbows Up’

Carney’s “elbows up” campaign — a hockey phrase connoting readiness to stand your ground — resonated with Canadian voters who felt insulted by Trump’s tone and policies.

“Canadians are really upset at the president of the United States,” said Asa McKercher, a professor of public policy at St. Francis Xavier University. “Tuesday’s meeting could be an opportunity to reset the relationship, because it’s pretty bad.”

What Comes Next?

Whether today’s meeting leads to any real progress remains uncertain. Carney’s political rise was fueled in part by his tough stance on defending Canadian sovereignty. Trump, meanwhile, shows no signs of backing off his “economic pressure” campaign — or his vision of absorbing America’s northern neighbor.

Still, for now, both sides are sitting at the table. What happens next may determine the future of one of the world’s most historically stable alliances.

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Former President Donald Trump’s latest trade proposal has sparked concern across Hollywood. By floating the idea of imposing tariffs on foreign-produced films entering the U.S., Trump has put the American film industry in a precarious position—one that could trigger damaging retaliation from global markets where U.S. studios earn the lion’s share of their revenue.

Why This Matters

U.S. movie studios are already grappling with a weakened domestic box office in the post-pandemic landscape. Now, they face a potentially more damaging blow: tariffs that could disrupt their most profitable source of income—international ticket sales.

According to the Motion Picture Association (MPA), the U.S. is by far the world’s largest film exporter, with export volumes approximately three times greater than imports. Hollywood has built a global distribution empire, and any policy that risks that reach could have major financial consequences.

Hollywood’s Global Reliance

American studios depend heavily on international markets. Most blockbusters earn the majority of their box office overseas:

Disney’s Inside Out 2, the top-grossing film globally last year, pulled in 61.6% of its $1.7 billion in box office revenue from international audiences.

A year earlier, Warner Bros.’ Barbie made 56% of its global ticket sales abroad.

This reliance on foreign markets means even a minor retaliation from international partners—such as tariffs on U.S. film exports—could cut deep into Hollywood’s bottom line.

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What We Know So Far

Details from the Trump campaign and its advisers remain scarce, but the message is clear: the administration is exploring tariffs as a way to boost domestic film production and, in Trump’s own words, “Make Hollywood Great Again.”

However, the vagueness of the policy has left the industry puzzled:

On Truth Social, Trump referred to movies “produced in Foreign Lands,” but didn’t clarify whether this includes films partially made overseas or those distributed by U.S. companies but shot abroad.

White House spokesperson Kush Desai said the administration is weighing “all options” to safeguard national and economic interests.

Key Challenges and Industry Uncertainty

Without more specifics, studios are stuck in limbo. Here’s why:

Tariff structure matters. A levy on foreign box office revenue is entirely different from taxing production costs overseas. Studios need to understand which model is being proposed before making operational changes.

Defining production is complicated. Many Hollywood films are made across multiple countries. Some are shot in the U.S. but use foreign post-production services or source costumes and set materials from cheaper markets.

Streaming services are at risk too. Platforms like Netflix and Amazon often distribute international content to U.S. audiences. How would these be impacted?

Given the confusion, some analysts have already warned that major studios may delay or freeze international projects until the policy is clarified—potentially further shrinking global box office figures in the short term.

Tax Incentives and Domestic Pushback

Globally, countries like the U.K., Canada, and parts of Europe have become go-to filming destinations thanks to generous tax credits and lower production costs. In response, some U.S. leaders are trying to fight back:

California Governor Gavin Newsom is pushing to double the state’s film and television tax credit to draw more production back home.

Actor and Trump supporter Jon Voight has urged the former president to consider a nationwide federal tax incentive to keep Hollywood jobs in the U.S.

Is Hollywood Really in Decline?

In his statement, Trump claimed the American movie industry is “DYING a very fast death.” While box office numbers have declined since the pandemic, experts say that’s an overstatement. Many recent blockbusters—such as Inside Out 2—have proven audiences still want to return to theaters for the right kind of movie.

The reality is more nuanced: the industry is going through a transition, not a death spiral. Still, tariffs on film imports—without careful thought—could stall the recovery and hurt the very American studios Trump says he wants to protect.

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The 2025 NBA playoffs have now moved into the second round, and the Western Conference bracket is heating up with familiar names and intriguing matchups.

The Oklahoma City Thunder, Denver Nuggets, and Minnesota Timberwolves are all back in the second round, continuing their strong postseason form from last year. The Golden State Warriors, however, are the new addition to this round, replacing the Dallas Mavericks, who reached the NBA Finals in 2024.

With the Mavericks out, a new Western Conference champion is guaranteed this year. The Warriors punched their ticket to the second round after a gritty Game 7 win over the Houston Rockets. Now, they face the Timberwolves, while the top-seeded Thunder are set to battle the defending champion Nuggets.

Here’s a closer look at each matchup, along with expert predictions for who moves on to the Western Conference Finals.

No. 1 Oklahoma City Thunder vs. No. 4 Denver Nuggets

Series Odds (via FanDuel): Thunder -900, Nuggets +610

The Thunder come into this series as heavy favorites, and it’s easy to see why. This team has looked like a complete unit all season — deep, balanced, and elite on both ends of the floor. The Nuggets, led by the incomparable Nikola Jokić, face a tough challenge.

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Expert Predictions:

Botkin: Thunder in 6. Oklahoma City’s depth is simply too much for the Nuggets to handle. Denver has the best player in the world in Jokić, but the Thunder’s two-way dominance will ultimately be the deciding factor.

Herbert: Thunder in 6. The Nuggets might steal a couple of games if OKC struggles from three, but if big man Isaiah Hartenstein stays out of foul trouble, this prediction might still be generous to Denver.

Maloney: Thunder in 5. The Thunder have too many advantages—depth, rest, defense, and home-court—to let this series go deep. Jokić can make it interesting, but the odds are stacked against Denver.

Quinn: Thunder in 5. Even Jokić can’t close the gap in this matchup. OKC’s ability to play five-out and defend across every position gives them a significant edge.

Ward-Henninger: Thunder in 5. The Nuggets are a resilient team, but OKC is a machine right now. Denver doesn’t have the personnel to keep pace consistently.

Wimbish: Thunder in 6. Denver’s lack of depth already showed in Round 1. Against a team as loaded and disciplined as OKC, that problem could be fatal. The Thunder have the length and defenders to wear down Jokić and contain Jamal Murray.

No. 6 Minnesota Timberwolves vs. No. 7 Golden State Warriors

Series Odds (via FanDuel): Timberwolves -178, Warriors +150

This matchup is much more evenly poised. The Timberwolves bring size, defense, and a rising superstar in Anthony Edwards. But the Warriors have postseason pedigree, and when you have players like Stephen Curry and Draymond Green, anything is possible in a seven-game series.

Expert Predictions:

Botkin: Timberwolves in 6. Minnesota presents the same issues for the Warriors as Houston did — athleticism, physical defense, and a size advantage — but with an actual go-to scorer in Edwards. Golden State’s fight won’t be enough this time.

Herbert: Warriors in 7. The Timberwolves are younger, bigger, and deeper. Still, Golden State’s experience can’t be ignored. If the Warriors stay disciplined on offense, they have just enough to edge it.

Maloney: Timberwolves in 7. This one’s a toss-up. Edwards’ scoring and Minnesota’s defense mirror Houston’s formula, but with more offensive polish. That gives them a slight edge over Curry and Co.

Quinn: Timberwolves in 7. Minnesota has a better-rounded roster, more shooting, and a legit offensive focal point in Edwards. Golden State will challenge them, but the Wolves look slightly stronger.

Ward-Henninger: Warriors in 7. Golden State’s playoff DNA kicked in during Round 1, and they have the experience edge once again. If the games stay close, trust Curry and Butler to deliver in the clutch.

Wimbish: Timberwolves in 6. Rudy Gobert could have a dominant series against a small-ball Warriors lineup. Betting against Curry and Green isn’t easy, but Minnesota’s overall roster looks better prepared to win four out of seven.

Final Thoughts

The West continues to deliver high drama, and the stakes couldn’t be higher. Oklahoma City is the clear favorite to advance, but the Nuggets, behind Jokić, are never out of the fight. Meanwhile, the Warriors-Timberwolves clash promises to be a war of attrition, where youth and size will challenge experience and championship mettle.

Whichever way these series go, the Western Conference Finals are shaping up to be must-watch basketball.

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As the conclave prepares to begin, speculation is mounting over who might become the next leader of the Roman Catholic Church. Pope Francis’ transformative papacy has expanded the College of Cardinals with a diverse group of appointees, making predictions more difficult than ever. No clear favorite has emerged, but a number of names are drawing attention from Vatican observers.

Pietro Parolin (Italy)

Currently the Vatican Secretary of State, Parolin is seen as a pragmatic, diplomatic figure. He’s experienced in global church politics and has played a major role in shaping Vatican foreign policy under Francis. If the cardinals choose him, it may signal a desire for continuity with a more institutionally stable hand.

Luis Antonio Gokim Tagle (Philippines)

Known for his charisma and deep pastoral experience, Tagle has long been viewed as a potential pope. A strong voice for the Global South, he represents the Church’s future demographic center. His election would suggest a continuation of Francis’ international outlook and pastoral focus.

Fridolin Ambongo (Democratic Republic of Congo)

A leading African voice in the Church and a key figure on social justice and environmental issues. His papacy would be historic — the first African pope in over a millennium — and could elevate the profile of the growing African Church.

Matteo Zuppi (Italy)

The Archbishop of Bologna and a prominent figure in peace negotiations, Zuppi is close to the Sant’Egidio community and widely respected for his compassionate, Francis-like approach. He’s popular among those who support progressive reforms.

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Peter Turkson (Ghana)

One of the most recognizable African cardinals, Turkson was a major voice on climate and economic justice under Francis. He has Vatican experience and would also represent the Global South, but his star has somewhat faded in recent years.

Robert Francis Prevost (USA)

An American with deep experience in Latin America and close ties to Pope Francis, Prevost has been rising quickly in Vatican circles. His relatively low profile may work in his favor if the conclave seeks a compromise candidate.

Jean-Marc Aveline (France)

A theologian and interfaith dialogue advocate, Aveline reflects Francis’ values on multicultural engagement and modern pastoral care. His intellectual depth and European roots make him a more traditional choice with a progressive edge.

Pierbattista Pizzaballa (Italy, Latin Patriarch of Jerusalem)

His unique role in the Holy Land gives him global credibility, and he has shown diplomatic skill navigating complex interreligious tensions. His selection could emphasize a renewed focus on the Middle East and dialogue.

Seán P. O’Malley (USA)

Archbishop of Boston and a key figure in abuse reform, O’Malley is a trusted Vatican advisor. However, his age (80) and long service may make him a less likely pick, despite broad respect.

Joseph W. Tobin (USA)

A progressive voice in the U.S. Church, Tobin has stood out for his compassionate stance on immigration and marginalized groups. He could draw support from cardinals favoring a strong continuation of Francis’ agenda.

Claudio Gugerotti (Italy)

Currently leading the Vatican’s Eastern Churches department, Gugerotti has significant diplomatic experience. He could be a compromise choice blending traditional grounding with global fluency.

The Wild Cards

Other names floated include:

Charles Maung Bo (Myanmar) – Vocal on human rights, but from a geopolitically sensitive region.

Peter Erdo (Hungary) – Seen as more conservative; popular among traditionalists.

Anders Arborelius (Sweden) – The first Swedish cardinal, represents a minority church with strong ecumenical credentials.

José Tolentino Calaça de Mendonça (Portugal) – A theologian and poet, reflects Francis’ intellectual and cultural style.

Mario Grech (Malta) – Leader of the Synod of Bishops, may appeal to those focused on synodality.

Pablo Virgilio David (Philippines) – A strong pastoral figure, but considered less internationally known.

What to Expect

Given the diversity of Pope Francis’ appointments, this conclave is particularly unpredictable. Insiders suggest it will hinge on whether the majority of cardinals want to preserve Francis’ legacy of reform and global inclusivity — or pivot back to a more traditional, centralized papacy.

Even so, the decision may ultimately come down to a candidate who’s less discussed — someone who can build consensus across ideological lines.

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In recent months, certain unfamiliar terms like “bonded warehouses” and “harmonized system codes” have quickly become essential knowledge for many American business owners. What was once niche trade jargon is now central to survival in a market shaken by sweeping tariff hikes.

With former President Donald Trump imposing an unprecedented 145% minimum tariff on most Chinese goods—alongside additional tariffs of 25% on items like automobiles, auto parts, steel, and aluminum, and a 10% levy on imports from almost every country—U.S. companies are facing mounting pressure. Naturally, this has led many to explore any and every legal route to cut costs.

Two strategies have emerged at the forefront: deferring duties through bonded warehouses and reducing rates via meticulous product classification under the harmonized system (HS) code.

The Art of ‘Tariff Engineering’

Tariff engineering isn’t new, but it’s gained fresh relevance. The idea is simple—small modifications in a product’s material or design can lead to classification under a more favorable tariff code. Globally, over 5,000 HS codes are used to categorize products, and the category a product falls under can significantly impact the duties applied.

Take clothing, for example. The average consumer might not notice whether a jacket is technically a raincoat or a windbreaker. But for importers, that classification could mean paying 5% or 20% in tariffs—a major difference when working at scale.

One of the more well-known examples involves Converse’s classic All Stars. By using a felt sole instead of rubber, these shoes may qualify as “house slippers” under customs classification—a category historically subject to lower tariffs. While Nike, which owns Converse, has not confirmed this intent, industry insiders suggest such decisions are often deliberate.

Columbia Sportswear is one company that openly acknowledges its use of tariff engineering. In a 2019 interview, Jeff Tooze, Columbia’s Vice President of Global Customs and Trade, revealed that his team actively collaborates with designers to factor in tariff impacts during the early stages of product development. A tiny zippered pocket added to a shirt, for instance, might shift its classification, reducing the tariff applied.

Despite new rounds of tariffs aimed at Chinese imports and select sectors, businesses still have options. Erik Smithweiss, a partner at GDLSK and an expert in trade compliance, says there’s room to maneuver—especially when seeking exemptions or reclassifying goods that fit under lower-duty categories.

That said, it’s not as simple as reassigning a code on paper. Customs and Border Protection (CBP) takes product classification seriously. Officials often conduct lab tests, especially on textiles, to verify if a product genuinely meets the claimed classification. If it doesn’t, importers not only face the original high tariff—they can also be penalized.

Bonded Warehouses: A Strategic Delay

For businesses unwilling or unable to modify their products, bonded warehouses present another solution. These government-regulated storage facilities allow companies to bring in foreign goods and store them in the U.S. without immediately paying tariffs. In fact, as long as the goods remain in the warehouse, no duty is required.

Companies can leave products in bonded storage for up to five years. The hope is that tariff rates will eventually drop, allowing the goods to be released into the market at a more favorable rate.

Jennifer Hartry, president of customs brokerage firm Howard Hartry, has seen firsthand how this method is gaining traction. Her company, based near the Port of Los Angeles, rents bonded warehouse space and has experienced a surge in demand since the new tariffs took effect.

According to Hartry, the vast majority—around 95%—of recent inquiries are related to Chinese imports. The items stored range from lithium batteries and electronics to metal rods and fitness equipment, with individual inventories valued anywhere between $37,000 and half a million dollars.

Interestingly, Hartry acknowledges the irony. While tariffs have made life harder for many American importers, they’ve provided a critical lifeline for her family-owned business. “It’s saving our business,” she told CNN, “which we’re grateful for.”

The Bigger Picture

These strategies underscore a broader truth: when trade policies shift dramatically, businesses adapt. Whether by altering product materials, rerouting supply chains, or leveraging logistical workarounds, companies are determined to protect their bottom line.

But it also highlights the complexity of international trade—and how even legal compliance can demand creativity, technical expertise, and a willingness to evolve quickly.

For small and mid-sized firms, the challenge is even greater. Unlike large corporations with legal teams and trade consultants, smaller players must navigate these changes with limited resources. It’s not just about staying competitive—it’s about staying in business.

As U.S. trade policy continues to evolve, these tactics are likely to remain in play. For now, bonded warehouses and tariff engineering are among the few tools left for businesses trying to weather the storm.

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Dana White’s much-anticipated foray into the boxing world is officially on the horizon, and he’s kicking things off with a super-fight that’s set to shake the sport.

On September 12, Canelo Alvarez, the undisputed super-middleweight champion, will face off against Terence Crawford, the two-weight undisputed champion, in what promises to be a showdown for the ages. This highly anticipated fight will mark the launch of TKO Boxing, the new boxing promotion spearheaded by Dana White, alongside Saudi sports magnate Turki Alalshikh.

TKO Boxing: A New Era in Combat Sports

The announcement came after a somewhat lackluster victory for Canelo over William Scull on Saturday night, which was largely seen as a precursor to the real action in September.

After the fight, Alalshikh took to X (formerly Twitter) to tease more details, confirming the blockbuster event and White’s involvement. Although Dana White wasn’t directly mentioned during the post-fight face-off between Canelo and Crawford, Alalshikh made sure to set the stage for what’s next.

“We will deliver the fight of the century with @RiyadhSeason on Sept. 12 at Las Vegas’ Allegiant Stadium,” Alalshikh wrote. “The legend @Canelo defends his @ringmagazine title vs. the great @terencecrawford. TV platform will be announced soon with a big surprise. My brother @danawhite will promote this first TKO boxing event with me. It will be something crazy.”

A Partnership with Netflix?

While the TV platform has yet to be officially confirmed, insiders suggest that it could be Netflix, which has already partnered with the TKO Group for previous combat sports events.

The streaming giant was involved in broadcasting the Jake Paul vs. Mike Tyson fight and airs TKO’s WWE events globally. With Netflix’s growing presence in the boxing world, the streaming service might be set to deliver this high-profile event to millions worldwide.

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Terence Crawford Talks Canelo Fight

In a post-fight interview, Terence Crawford shared his excitement about the upcoming clash with Canelo. Speaking to Seconds Out, Crawford explained why he’s eager to face Canelo and what it means for his career.

“Canelo is the face of boxing,” Crawford said. “He is the best fight for me and the biggest challenge out there. That’s why I want the opportunity to share the ring with him.”

The pair of undisputed champions had an intense face-off in the ring after Canelo’s victory, as they waited for the presentation of the Ring Magazine belt, fueling excitement among boxing fans.

Crawford also commented on Canelo’s recent performance, noting that despite some critics suggesting Canelo had “slipped,” he believed the fight against William Scull was simply a case of a fighter using a style that neutralized Canelo’s power.

“It’s all about the weight difference,” Crawford added. “We’ll see in September if it makes a difference.”

What’s Next?

With Dana White bringing his promotional power to the boxing world, and Turki Alalshikh’s backing, this fight could signal a new chapter in combat sports.

As TKO Boxing makes its debut with Canelo vs. Crawford, fans are in for what could be the fight of the century—an event that may shape the future of boxing for years to come.

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In a moment that stunned thousands of shareholders packed into an Omaha arena, Warren Buffett, the 94-year-old legendary investor and longtime chairman of Berkshire Hathaway, announced on Saturday that he will retire at the end of the year—bringing an end to one of the most iconic careers in the history of finance.

The unexpected announcement came at the close of a five-hour Q&A session during the company’s annual shareholder meeting. With no prior indication and no questions taken on the matter, Buffett quietly revealed that he will recommend Vice Chairman Greg Abel to take over as CEO starting in 2026.

“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said, signaling a historic transition of power.

A Succession Plan Finally Activated

Though Abel has long been Buffett’s publicly identified successor, many had assumed the transition wouldn’t take place until after Buffett’s passing. Buffett had consistently stated that he had no intention of retiring.

Even Abel, who was seated beside Buffett during the announcement, had no prior warning. Only Buffett’s children, Howard and Susie, were told in advance. An hour after the surprise statement, Abel returned to the stage alone to conduct the company’s formal business meeting and briefly addressed the crowd.

“I just want to say I couldn’t be more humbled and honored to be part of Berkshire as we go forward,” Abel said.

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End of an Era, But Confidence in the Future

Warren Buffett’s six-decade leadership of Berkshire Hathaway turned a once-struggling textile mill into one of the most successful conglomerates in the world. Through disciplined investing, a long-term mindset, and plainspoken wisdom, Buffett became known as the “Oracle of Omaha,” a guiding figure for investors across generations.

While some shareholders may wonder how Berkshire will fare without Buffett’s legendary investing acumen, the man himself offered a strong endorsement of his successor.

“I have no intention — zero — of selling one share of Berkshire Hathaway,” Buffett assured shareholders. “The decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg’s management than mine.”

Buffett’s words drew a prolonged standing ovation from the crowd, many of whom had traveled from around the world to attend what’s often called the “Woodstock for Capitalists.”

What’s Next for Berkshire Hathaway?

Greg Abel, who currently oversees all of Berkshire’s noninsurance businesses, is expected to bring a steady hand and operational expertise to the CEO role. However, some investors remain curious about how he will handle the company’s massive cash reserves and long-term investment strategy—a domain that has always been Buffett’s forte.

Still, with Buffett’s full backing and a solid leadership structure in place, the company appears poised for continuity. Buffett’s personal fortune—largely still invested in Berkshire—will eventually be donated through his philanthropic commitments, further signaling his confidence in the company’s future.

As the sun begins to set on a truly remarkable chapter in business history, one thing is clear: Warren Buffett may be retiring, but his legacy is only growing.

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He may not be a household name globally, but within the world of combat sports, Turki Alalshikh is rapidly becoming one of the most influential figures in the game.

Turki bin Abdul Mohsen Alalshikh, known more commonly on the global stage as Turki Alalshikh, is the man behind Saudi Arabia’s growing footprint in international sports and entertainment.

As the chairman of the General Entertainment Authority (GEA) and a key advisor to Crown Prince Mohammed bin Salman, Alalshikh holds immense sway over the Kingdom’s cultural and sporting ambitions.

The Mastermind Behind Riyadh Season

At the heart of Alalshikh’s influence is Riyadh Season, a massive, government-backed entertainment festival that spans several weeks each year. The event has drawn global stars from the worlds of sports, music, and film, helping to position Saudi Arabia as a rising hub of international entertainment.

This initiative is part of Vision 2030, Saudi Arabia’s long-term plan to diversify its economy beyond oil. Under Alalshikh’s leadership, the entertainment and sports sectors have emerged as major pillars of this strategy — and boxing has become a central piece of the puzzle.

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Turki Alalshikh’s Net Worth

According to estimates from reputable sports and business outlets like Essentially Sports, Sportscasting, and Bet365, Turki Alalshikh’s net worth is estimated at $2.8 billion. His fortune is tied to a combination of public office, private investments, and high-profile sports ventures.

Unlike many billionaires whose wealth comes from inherited assets or single-sector empires, Alalshikh’s power comes from a unique blend of public influence and private investment acumen — particularly in sports and real estate.

A Growing Portfolio in Sports

Boxing isn’t Alalshikh’s only passion. He is also the owner of Spanish football club UD Almería, a La Liga side he purchased in 2019. Before that, he briefly owned Pyramids FC, a top-tier Egyptian football team, showing a deep interest in developing sporting excellence across multiple regions.

Earlier this year, he made headlines again when he acquired The Ring magazine, one of boxing’s oldest and most respected publications. The move cemented his commitment to reshaping the sport from both a business and cultural perspective.

Real Estate and Other Investments

While not much is publicly disclosed about his personal property holdings, Alalshikh is widely reported to be active in real estate, with properties in global hotspots like Beverly Hills.

His influence also extends into the construction and development sector, although details remain mostly under wraps due to the opaque nature of high-level real estate in the Middle East.

The Future of Boxing Under Alalshikh’s Vision

Turki Alalshikh has already transformed how boxing events are hosted, marketed, and experienced — particularly in Saudi Arabia, where high-stakes bouts now regularly draw global attention.

His financial backing, political influence, and strategic vision suggest that this is just the beginning. As Saudi Arabia continues to expand its entertainment footprint, many industry insiders believe that the future of world boxing may be tied to Alalshikh’s ambitions more than ever before.

Where he takes the sport next remains to be seen — but one thing is certain: Turki Alalshikh is no longer just a behind-the-scenes figure. He’s at the center of boxing’s next era.

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