Highlights:

• Toyota Industries Takeover: The Toyoda founding family stands to be the biggest beneficiary of the mega buyout of Toyota Industries Corp., which will reshape Japan's largest business group and resolve a standoff with an American activist shareholder. Bloomberg

• Coal Prices Surge: Power-station coal prices jumped their most in three years as Qatar's unprecedented LNG plant shutdown drives fuel-switching demand in the electricity sector. Bloomberg

• Thoma Bravo–WWEX Deal: Thoma Bravo is in advanced talks to acquire logistics provider WWEX Group to create a $12 billion shipping technology business. Bloomberg

• Paramount Downgraded to Junk: Fitch Ratings downgraded Paramount Skydance's debt to junk status following its agreement to acquire Warner Bros. Discovery, which will result in $79 billion in combined net debt. Bloomberg

• BHP Limited Iran Impact: BHP Group's chairman said the mining giant expects minimal near-term business impact from the US-Iran conflict since most output goes to Asia. Bloomberg

• LNG Tanker Rates Spike: LNG tanker rates in the Atlantic Basin doubled to over $200,000 per day in less than 24 hours amid Iran tensions. Bloomberg

• New Zealand Tourism: Tourism remains behind dairy as New Zealand's top source of overseas revenue. Bloomberg

• US Oil Reserve: The Trump administration has no immediate plans to release oil from the Strategic Petroleum Reserve despite rising crude and gasoline prices from the Iran conflict. Bloomberg

• Blackstone Redemptions: Blackstone is allowing a record 7.9% redemption from its flagship private credit fund, reflecting broader unease in the private credit industry. Bloomberg

• Ex-Macquarie Quant: Former Macquarie quantitative hedge fund chief Nick Bird is launching a second Europe-focused hedge fund. Bloomberg

• Franklin Templeton on Iran: Franklin Templeton CEO Jenny Johnson estimates the US-Iran conflict is unlikely to extend beyond approximately five weeks absent major regional retaliation. Bloomberg

• Zuckerberg Miami Purchase: Meta founder Mark Zuckerberg and his wife purchased a $170 million mansion on Miami's private island, setting a local record. Bloomberg