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Boardroom Shake-Ups, Booming Euros, and Billion-Dollar Buyouts

From Tesla to xAI: Musk’s Leadership Drain Deepens:

Elon Musk is facing a wave of high-profile departures across his companies, raising eyebrows in the business world. Tesla has recently lost key members from its US sales, public affairs, and leadership teams, including its Chief Information Officer. Meanwhile, xAI—Musk’s ambitious AI start-up merged with social network X earlier this year—has seen rapid churn, with its Chief Financial Officer and General Counsel leaving within days of each other. While some executives have stepped away after long careers, others are said to be struggling with burnout. Adding to the turbulence, insiders suggest unease about Musk’s vocal support of Trump and far-right figures in both the US and Europe may be contributing to the exits, casting doubt on stability at the heart of his ventures.



Can the Euro replace the dollar as the global reserve?

The euro has been on a tear this year, and many on Wall Street believe it still has further to climb. Recently hitting a four-year high above $1.19, the single currency has already strengthened over 12% in 2025, fuelled by renewed optimism about Eurozone growth and concerns over Donald Trump’s policies in the US. This surge reflects investor appetite for hedging against dollar weakness, though it brings challenges for European exporters who now face reduced competitiveness. The bigger question: is this the start of a permanent shift away from the dollar as the global reserve? With investors rushing to shield themselves from US exposure, Europe is drawing in fresh capital. But if the euro breaks decisively above $1.20, the ECB could face tough decisions about whether to cut rates to keep the currency in check, given its potential drag on inflation.

World’s Biggest Leveraged Buyout Levels Up

The M&A world is buzzing after Electronic Arts became the target of a record $55 billion leveraged buyout, the largest ever of its kind. The deal, backed heavily by Saudi Arabia’s Public Investment Fund and structured with a massive debt package led by JP Morgan, underscores the scale of ambition reshaping global deal-making. Trump’s son has even been linked to the transaction, a reminder of how political and financial power often intersect in megadeals. For the gaming sector, where PIF has already built experience, the move signals confidence in growth—but more broadly, it reflects a resurgence of bold, headline-grabbing acquisitions. Over 47 deals worth more than $10 billion have closed this year, pushing global M&A volumes past $1 trillion by Q3. Veteran dealmakers like Charles Ruck of L&W say this is the busiest period since the SPAC boom of 2021, as Trump-era conditions seem to have reignited the appetite for outsized, risk-heavy transactions.



Autumn Budget on the Horizon: Reeves Faces the Heat

As Labour prepares its Autumn Budget, Shadow Chancellor Rachel Reeves is walking a fine line between fiscal responsibility and political promises. While her party has refused to rule out future tax rises, any such move would breach its manifesto pledges—something opponents are ready to seize upon. Reeves is expected to unveil her full economic plan in November, with the aim of reassuring markets and households alike that Labour can deliver stability. Meanwhile, Keir Starmer is set to speak as he looks to steady his party following a turbulent Cabinet reshuffle, emphasising unity and discipline at a time when the government faces mounting economic and political headwinds.




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