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BHP Withdraws Bid for Anglo American, Clearing Path for Competitors and Restructuring Plans

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Australian mining giant BHP has formally ended its pursuit of Anglo American, a move that closes the door on what would have been one of the decade’s most significant mining mergers. The decision follows preliminary talks and comes just weeks after Anglo American’s board rejected BHP’s latest offer, the company’s second approach in the past 18 months.

BHP said in a statement on Monday that it would no longer consider a combination of the two companies. “Following preliminary discussions with the Board of Anglo American, BHP confirms that it is no longer considering a combination of the two companies,” the company said. The miner highlighted the “highly compelling potential” of its own growth plans, signalling a strategic shift from ambitious acquisitions to organic expansion.

A successful BHP-Anglo merger would have created a dominant global copper producer, consolidating assets critical to electric vehicle and microchip industries. BHP said it still believed the deal had strong strategic merits and could generate value for stakeholders, but the challenges involved proved too significant.

Anglo American, founded in Johannesburg in 1917, operates across multiple jurisdictions, including regions where governments are particularly sensitive to control over strategic resources. BHP’s proposed merger required Anglo to conduct two separate demergers of its stakes in Anglo American Platinum and Kumba Iron Ore. The board described these demergers as introducing “significant uncertainty” for investors, noting that Anglo Platinum and Kumba together represent roughly $15 billion (€13 billion) and 34% of the proposed total consideration.

The rejection underscores the complexity of mega-deals in the mining sector. In recent years, BHP has preferred targeted acquisitions in potash and copper over large-scale mergers, reflecting growing investor caution around deals with heavy regulatory and operational hurdles. By emphasising the promise of its internal growth strategy, BHP appears to be prioritising stability and measured expansion over high-profile acquisitions.

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Under Rule 2.8 of the UK Takeover Code, BHP is effectively barred from making another approach for at least six months unless circumstances change, such as board approval from Anglo American, the arrival of a rival bidder, or amendments to the Takeover Code.

The withdrawal opens the way for Anglo American to advance its own plans. Shareholders are expected to vote soon on a proposed merger with Canada’s Teck Resources, a deal that could create a company valued at over $50 billion (€43.3 billion). Meanwhile, other mining rivals are likely to reassess their options in the copper and broader resource markets.

BHP’s exit marks a significant moment in global mining, reflecting a shift from high-stakes consolidation to cautious, internally driven growth strategies as companies navigate complex regulatory and geopolitical landscapes.

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Almost Half of Europeans Eye Career Changes in 2026 Amid Growing Job Market Uncertainty

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A new year brings new career ambitions for Europeans, with nearly half planning to seek a new job in 2026, according to recent research by LinkedIn. However, the survey also highlights widespread uncertainty, as almost four in five workers across major European economies feel unprepared to pursue a new role.

The study, conducted by Censuswide with 10,400 respondents aged 18 to 79, covers full-time and part-time employees as well as those currently unemployed but seeking work. It shows that 47% of Europeans are planning to look for a new role in 2026. Among the seven countries surveyed, the United Kingdom has the highest proportion, with more than half of respondents expressing intentions to change jobs. The UK is also above the global average of 52% recorded across 14 countries.

Other nations with high levels of job-seeking include Sweden and Spain, where more than half of workers are considering new opportunities. France, by contrast, has the lowest share at 37%. Germany and Italy fall below the European average, while the Netherlands aligns with it.

Despite these ambitions, confidence is low. Across Europe, 77% of workers report feeling unprepared for a career move. This figure peaks in Sweden at 83% and remains high in France, the UK, and Germany. Spain shows the lowest level of unpreparedness at 67%, while Italy and the Netherlands sit near the European average.

Recruiters are also feeling the pressure. The LinkedIn research indicates that 66% of recruiters say it has become more difficult to find qualified talent over the past year, reflecting increased competition in the job market. Data from hiring platform Indeed shows that UK job postings remain below pre-pandemic levels, highlighting the challenging environment for job seekers.

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The study also examined emerging job trends in Europe, showing the growing influence of artificial intelligence (AI) on the labour market. Analysis of millions of jobs started on LinkedIn between January 2023 and July 2025 found that AI-related positions dominate growth across Europe’s top five economies. AI Engineer and Head of AI were among the fastest-growing roles in every country, while the third fastest-growing role varied, including lecturers in the UK, logistics analysts in Spain, and environmental health specialists elsewhere.

Charlotte Davies, LinkedIn career expert, said AI is increasingly shaping how organisations hire and how individuals plan their career moves. “The job market is evolving quickly, and competition remains strong,” she said, highlighting the dual challenge of opportunity and preparedness faced by workers in 2026.

The research underscores a cautious optimism in Europe: while many are ready to explore new career paths, a significant portion feel under-equipped to navigate an increasingly competitive and technology-driven job market.

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Warner Bros Rejects Paramount’s $78 Billion Bid, Sticks with Netflix Deal

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Warner Bros Discovery has rejected Paramount Skydance’s latest $77.9 billion (€66.7 billion) takeover offer, calling it “inadequate” and risky, and urged shareholders to support a rival bid from Netflix. The announcement on Wednesday comes as the two media giants compete for control of Warner’s studio and streaming assets.

The company’s board said Paramount’s hostile bid is heavily dependent on debt financing and provides limited protection for shareholders if the deal fails to close. “Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed,” Warner Bros Discovery chairman Samuel Di Piazza Jr. said. “Our binding agreement with Netflix will offer superior value at greater levels of certainty, without the significant risks and costs Paramount’s offer would impose.”

Warner Bros has consistently rejected Paramount’s advances in recent weeks, emphasizing its $72 billion (€61.6 billion) deal with Netflix to acquire Warner’s studio and streaming business, including HBO Max, Warner Bros Pictures, and legacy television and film production arms. Paramount, in contrast, seeks to acquire the entire company, including Warner’s cable and news networks, such as CNN and Discovery.

Paramount recently sought to strengthen its position by offering an “irrevocable personal guarantee” from Oracle co-founder Larry Ellison, father of Paramount CEO David Ellison, to back $40.4 billion (€34.6 billion) in equity financing. The company also increased its proposed regulatory break-up fee to $5.8 billion (€5 billion), matching the terms Netflix already offered.

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Warner Bros raised concerns that a Paramount deal would essentially function as a leveraged buyout, requiring extensive debt and potentially taking 12 to 18 months to complete. The board warned that the structure and scale of Paramount’s offer could expose shareholders to significant financial risk.

The strategic differences between the two bids have added complexity to the sale. Netflix’s acquisition would involve only Warner’s studio and streaming units, leaving cable and news networks as a separate entity under a previously announced spin-off. Paramount, by contrast, is pursuing a full-scale merger that would combine studio, streaming, and cable operations under one company.

Regulatory scrutiny is expected to be intense. Any merger of this size is likely to trigger a review by the US Justice Department, which could challenge or demand modifications to the transaction. International regulators may also examine the deal given the global reach of Warner’s media properties.

Paramount did not immediately respond to a request for comment. Analysts say the battle for Warner Bros highlights the shifting dynamics in Hollywood as traditional studios and streaming platforms vie for market dominance amid growing competition and regulatory pressure.

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Record-Breaking Bluefin Tuna Sells for €2.78 Million at Tokyo New Year Auction

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A 243-kilogram bluefin tuna sold for a staggering 510 million yen (€2.78 million) at the first auction of 2026 at Tokyo’s Toyosu fish market, setting a new record for the prized species.

The winning bidder was Kiyomura Corp., owned by Kiyoshi Kimura, who also runs the popular Sushi Zanmai chain. Kimura has frequently claimed top tuna at the market’s annual New Year auctions, but this year’s sale surpassed his previous record of 334 million yen (€1.82 million) set in 2019.

Kimura told reporters he had hoped to pay a little less but was outbid as the price quickly soared. “The price shot up before you knew it,” he said, adding that he purchased the tuna partly for good luck. “But when I see a good-looking tuna, I cannot resist. I haven’t sampled it yet, but it’s got to be delicious.”

The auction began in the predawn hours, with rows of torpedo-shaped tuna laid out with their tails removed, allowing bidders to inspect the meat’s color, texture, and fattiness. The record-setting fish was caught off the coast of Oma in northern Japan, a region renowned for producing some of the country’s finest tuna. At 2.1 million yen (€11,500) per kilogram, the sale highlights both the rarity and quality of Oma tuna, which is prized for sushi and sashimi.

The New Year auction is a high-profile event in Japan, drawing attention from buyers nationwide. While hundreds of tuna are sold daily at Toyosu, prices typically spike during the celebratory first auction of the year, with top specimens fetching sums that far exceed standard market rates.

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Pacific bluefin tuna, the species of this record-breaking catch, was previously considered threatened due to overfishing and climate change. Conservation efforts in recent years, however, have allowed stocks to recover, enabling the continuation of Japan’s tuna industry while protecting the species for future generations.

The high-profile sale reflects both the cultural importance of tuna in Japan and the market’s growing international prestige. Kimura’s purchase ensures that the fish will be featured in Sushi Zanmai restaurants, continuing a tradition of showcasing top-quality tuna to diners in Tokyo and beyond.

For Japan, the New Year tuna auction is not only a commercial event but also a symbol of prosperity and good fortune. Winning bidders, like Kimura, often view the purchase as a way to start the year with optimism, bringing attention to the skill of fishermen and the quality of Japan’s seafood.

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