A proposed joint venture between Airbus, Leonardo, and Thales will be the first major test of the EU's revamped merger framework, designed to foster globally competitive European tech champions.
The three European defense and aerospace giants are combining their satellite operations in a bid to compete with SpaceX and other international players. The merger comes as the EU seeks to strengthen its industrial base through a reformed regulatory approach that balances competition concerns with the need for scale in global markets.
The venture's approval process will reveal how strictly the EU's new framework operates. Brussels has signaled intent to enable larger European consolidations while maintaining competition standards—a delicate balance as U.S. and Chinese companies dominate space and satellite sectors.
Separately, SpaceX itself faces valuation scrutiny following its record IPO. New Street Research assigned a $165 price target, factoring in growth expectations and what analysts call the "Musk premium" in the company's valuation. The contrast highlights Europe's challenge: building scale while competing against well-capitalized U.S. rivals operating under different regulatory conditions.
A California court ruled against AT&T's attempt to stop offering basic telephone service in the state. The carrier plans to continue challenging the decision through additional court filings and FCC appeals.
Financial leaders are sounding the alarm on mounting software debt as a major economic risk. Top executives from Barclays, Neuberger Berman, Pimco, and Oaktree gathered to discuss the looming threat to corporate stability.
The U.S. Space Force is pursuing up to $30 billion in commercial rocket launch services to meet increased operational demands from the Trump administration.
Snap Inc. has reached a tentative settlement in a lawsuit claiming its platform is addictive to minors, leaving Meta as the only major social media company facing a jury trial on the same issue starting next week in Los Angeles.