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Home Depot said Monday that it is buying GMS, a building-products distributor, for about $4.3 billion as the retailer moves to draw more sales from contractors and other home professionals.

Shares of Home Depot were roughly flat in early trading Monday. GMS shares jumped more than 11%.

As part of the deal, the Home Depot-owned subsidiary SRS Distribution will buy all outstanding shares of GMS for $110 per share, which adds up to about $4.3 billion and amounts to total enterprise value including net debt of about $5.5 billion, the company said.

Home Depot said it expects the acquisition to be completed by early 2026.

Home Depot’s announcement also concludes a potential bidding war between the big-box retailer and billionaire Brad Jacobs. Jacobs’ building-products distributor QXO had offered about $5 billion in cash to acquire GMS and said it would press forward with a hostile takeover if the company’s management rejected the proposal.

As Home Depot chases growth, it’s gone after a steadier and more lucrative piece of the home improvement business: electricians, roofers, home renovators and other professionals who tackle large projects year-round and need a lot of supplies. Home Depot said it’s speeding along that strategy with the GMS deal.

Home Depot bought SRS Distribution — the subsidiary that’s acquiring GMS — last year for $18.25 billion, in the largest acquisition in its history. Texas-based SRS sells supplies to professionals in the landscaping, roofing and pool businesses and it has bought up many other smaller suppliers as it’s grown.

Home Depot’s focus on selling to professionals is well-timed. Sales from do-it-yourself customers have slowed as higher mortgage rates have decreased housing turnover and dampened homeowners’ demand for larger projects because of higher borrowing costs.

The company said it expects total sales to grow by 2.8% for the full fiscal year and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to rise about 1%.

This post appeared first on NBC NEWS

Google on Monday announced a partnership with Commonwealth Fusion Systems, or CFS, a private company spun off from the Massachusetts Institute of Technology, which marks the tech giants first commercial commitment to fusion.

The company unveiled plans to buy 200 megawatts of clean fusion power from what CFS describes as the world’s first grid-scale fusion power plant, known as ARC, based in Chesterfield County, Virginia.

ARC is expected to come online and generate 400 megawatts of clean, zero-carbon power in the early 2030s, which is enough energy to power large industrial sites or roughly 150,000 homes, according to CFS. The agreement also gives Google the option to purchase power from additional ARC plants.

Google, which has invested in CFS since 2021, said it also increased its stake in the Devens, Massachusetts-based company.

Google and CFS did not disclose the financial terms.

“We’re excited to make this longer-term bet on a technology with transformative potential to meet the world’s energy demand, and support CFS in their effort to reach their scientific and engineering milestones needed to get there,” Michael Terrell, head of advanced energy at Google, said in a statement.

Fusion is a process that takes light atomic nuclei and heats them to over 100 million degrees Celsius. At these temperatures, the fuel becomes a plasma, which eventually causes the nuclei to fuse and release significant amounts of energy. The energy is then captured to create carbon-free electricity.

CFS is one of many firms racing to achieve commercial-scale fusion energy and Google has invested in others. Earlier this month, Google announced continued funding for TAE Technologies, a California-based fusion energy company.

This post appeared first on NBC NEWS

Turkish police detained at least 30 people in central Istanbul on Sunday as they tried to take part in a Pride March, which authorities had banned as part of a years-long clampdown on LGBTQ+ events, an opposition politician said.

Footage obtained by Reuters showed police scuffling with a group of activists holding rainbow flags in the city center before rounding them up and loading them into police vans.

Kezban Konukcu, a lawmaker from the pro-Kurdish DEM Party who attended the march, told Reuters that at least 30 people had been taken into custody.

Police did not immediately respond to a request for comment.

The Istanbul governor’s office had earlier deemed the march unlawful and said groups promoting the event were operating “illegally.”

Authorities have banned Pride marches in Turkey’s largest city since 2015, citing public safety and security concerns.

President Tayyip Erdogan’s Islamist-rooted AK Party has adopted increasingly harsh rhetoric against the LGBTQ+ community over the past decade.

In January, Erdogan declared 2025 the “Year of the Family,” describing Turkey’s declining birth rate as an existential threat and accusing the LGBTQ+ movement of undermining traditional values.

“The primary goal of the gender neutralization policies, in which LGBT is used as a battering ram, is the family and the sanctity of the family institution,” Erdogan said in January.

Rights groups have condemned Turkey’s stance. Human Rights Watch and Amnesty International have warned that government rhetoric and actions are fueling a hostile environment for LGBTQ+ people, contributing to rising discrimination and violence.

Despite the bans, small groups of activists continue to mark Pride Week each year. Organizers say the increasingly aggressive police response reflects broader crackdowns on dissent and freedom of assembly in Turkey.

This post appeared first on cnn.com

Major heat waves across southern Europe have pushed temperatures above 104 degrees Fahrenheit (40 degrees Celsius) in countries including Italy, Spain and Greece, as local authorities issued fresh warnings against the risk of wildfires.

Experts link the rising frequency and intensity of these heatwaves to climate change, warning that such extreme weather events are becoming increasingly common across Europe’s southern region.

Severe heat waves were recorded in Italy, Greece, Spain and Portugal before the weekend, with locals and tourists alike taking shelter from the sweltering conditions.

Two-thirds of Portugal were on high alert on Sunday for extreme heat and wildfires, with temperatures expected to top 107 Fahrenheit (42 Celsius) in Lisbon.

In Italy, a few regions – Lazio, Tuscany, Calabria, Puglia and Umbria – were planning to ban some outdoor work activities during the hottest hours of the day in response to the record-high temperatures. Italian trade unions pushed the government to expand such measures at a national level.

On Sunday, the Italian Health Ministry placed 21 out of 27 monitored cities under its highest heat alert, including top holiday destinations like Rome, Milan and Naples.

In Rome, tourists tried to seek shade near popular spots like the Colosseum and the Trevi Fountain, using umbrellas and drinking from public water fountains to stay cool.

Similar scenes were reported in Milan and Naples, where street vendors sold lemonade to tourists and residents to offer some refreshment from the heat.

Greece was again on high wildfire alert because of extreme weather, with the first summer heat wave expected to continue throughout the weekend.

A large wildfire broke out south of Athens on Thursday, forcing evacuations and road closures near the ancient Temple of Poseidon. Strong winds spread the flames, damaging homes and sending smoke across the sky.

Greek authorities deployed 130 firefighters, 12 planes and 12 helicopters to battle the blaze, while police evacuated 40 people, with five areas under evacuation orders.

In Spain, locals and tourists were desperately trying to keep cool this weekend, as the country sizzled in temperatures as high as 107 Fahrenheit (42 Celsius) in the southern city of Seville along with other locations in southern and central parts of the country.

Southern regions of Spain recorded temperatures above seasonal averages, prompting health alerts and safety recommendations from authorities. The country’s national meteorological service Aemet has said that June is set to break yet another record, becoming the hottest such month since records started.

Experts warned that intense heat can affect daily life, especially for vulnerable populations such as the elderly and children.

Local authorities advised against physical activity during the hottest hours of the day, and recommended drinking plenty of fluids.

A Lancet Public Health study published last year highlighted the increasing risk of heat-related deaths because of climate change. The study predicted that heat-related deaths could more than quadruple by mid-century under current climate policies.

While more people die from cold than heat, the study stressed that rising temperatures will offset the benefits of milder winters, leading to a significant net increase in heat-related mortality.

This post appeared first on cnn.com

Former Brazilian President Jair Bolsonaro on Sunday attended a public demonstration in Sao Paulo to protest against his ongoing Supreme Court trial in the South American country.

A couple of thousand people gathered on Paulista Avenue, one of the city’s main locations, in a demonstration that Bolsonaro, before the event, called “an act for freedom, for justice.”

Bolsonaro and 33 allies are facing trial over an alleged plot to overturn the 2022 presidential election results and remain in power.

They were charged with five counts related to the plan.

The former president has denied the allegations and claims that he’s the target of political persecution.

He could face up to 12 years in prison if convicted.

“Bolsonaro, come back!” protesters chanted, but the former president is barred from running for office until 2030.

Brazil’s Superior Electoral Court ruled last year that he abused his political power and made baseless claims about the country’s electronic voting system.

This post appeared first on cnn.com

China on Sunday announced it is immediately resuming seafood products imported from some Japanese regions, ending a nearly two-year overall ban imposed due to worries over Japan’s release of treated wastewater from the Fukushima nuclear power plant.

In a notice on Sunday, China Customs said seafood products from 10 prefectures – Fukushima, Gunma, Tochigi, Ibaraki, Miyagi, Niigata, Nagano, Saitama, Tokyo and Chiba – will still be banned from entering the country.

Products from other regions will need health certificates, radioactive substance detection qualification certificates and production area certificates issued by the Japanese government for Chinese customs declarations, the notice said.

Chinese customs authorities said Sunday’s decision was made after no abnormality was detected following long-term international and independent Chinese sampling and monitoring of discharged wastewater.

China banned all imports of Japanese seafood in August 2023, shortly after Tokyo began releasing the treated Fukushima wastewater, prompting a diplomatic and economic backlash.

Sunday’s notice said China will strictly supervise Japanese seafood imports and will take measures if it finds any violations of relevant Chinese laws, regulations and food safety standards.

This post appeared first on cnn.com

Norway’s national lottery has apologized after thousands of players were mistakenly told that they had won large sums in the Eurojackpot draw due to a coding error.

Norsk Tipping receives the prize amounts from Germany in euros, then coverts them to Norwegian kroner. However, it was during the conversion that an error occurred and winnings were multiplied by 100, rather than divided by 100, the company said in a statement Friday.

Norsk Tipping sent messages and push notifications to customers that showed the wrong, inflated winnings, before later issuing a correction.

“Norsk Tipping sincerely apologizes to everyone who was notified of an incorrect prize amount,” it said.

The company blamed the issue on a “manual coding error.”

“No customers have been paid the wrong prize,” it added.

In a separate statement on Saturday, Norsk Tipping CEO Tonje Sagstuen also apologized for the error.

“I am terribly sorry that we have disappointed so many, and I understand that people are angry with us,” said Sagstuen in the statement.

“I have received many messages from people who had managed to make plans for holidays, buying an apartment or renovating before they realized that the amount was wrong,” she said.

“To them I can only say: Sorry! But I understand that it is a small consolation,” added Sagstuen, who later stepped down and was replaced by acting CEO Vegar Strand.

The company then sent out another apology message signed by Strand.

“On Friday evening, thousands of Norwegians were mistakenly told that they had won a large prize in Eurojackpot. This was an error that affected many and which we take very seriously,” it read.

“We deeply regret what has happened, and on behalf of us at Norsk Tipping I would like to apologize to everyone who was affected by this,” said Strand, who added that the company was “working intensively” to make sure that something similar doesn’t happen again.

As no one correctly matched all of the numbers in Friday’s draw, the Eurojackpot has now reached 377 million Norwegian kroner ($37.3 million), with the next draw scheduled to take place on Tuesday.

This post appeared first on cnn.com

Apple Thursday made changes to its App Store European policies, saying it believes the new rules will help the company avoid a fine of 500 million euro ($585 million) from the EU for violating the Digital Markets Act.

The new policies are a complicated system of fees and programs for app makers, with some developers now paying three separate fees for one download. Apple also is going to introduce a new set of rules for all app developers in Europe, which includes a fee called the “core technology commission” of 5% on all digital purchases made outside the App Store.

The changes Apple announced are not a complete departure from the company’s previous policy that drew the European Commission’s attention in the first place.

Apple said it did not want to make the changes but was forced to by the European Commission’s regulations, which threatened fines of up to 50 million euros per day. Apple said it believed its plan is in compliance with the DMA and that it will avoid fines.

“The European Commission is requiring Apple to make a series of additional changes to the App Store,” an Apple spokesperson said in a statement. “We disagree with this outcome and plan to appeal.”

A spokesperson for the European Commission did not say that Apple was no longer subject to the fine. He said in a statement that the EC is looking at Apple’s new terms to see if the company is in compliance.

“As part of this assessment the Commission considers it particularly important to obtain the views of market operators and interested third parties before deciding on next steps,” the spokesperson said in a statement.

The saga in Brussels is the latest example of Apple fiercely defending its App Store policies, a key source of profit for the iPhone maker through fees of between 15% and 30% on downloads through its App Store.

It also shows that Apple is continuing to claim it is owed a commission when iPhone apps link to websites for digital purchases overseas despite a recent court ruling that barred the practice in the U.S.

Under the Digital Markets Act, Apple was required to allow app developers more choices for how they distribute and promote their apps. In particular, developers are no longer prohibited from telling their users about cheaper alternatives to Apple’s App Store, a practice called “steering” by regulators.

In early 2024, Apple announced its changes, including a 50 cent fee on off-platform app downloads.

Critics, including Sweden’s Spotify, pushed back on Apple’s proposed changes, saying that the tech firm chose an approach that violated the spirit of the rules, and that its fees and commissions challenge the viability of the alternative billing system. The European Commission investigated for a year, and it said on Thursday that it would again seek feedback from Apple’s critics.

“From the beginning, Apple has been clear that they didn’t like the idea of abiding by the DMA,” Spotify said last year.

Epic Games CEO Tim Sweeney, whose company successfully changed Apple’s steering rules in the U.S. earlier this year, accused Apple of “malicious compliance” in its approach to the DMA.

“Apple’s new Digital Markets Act malicious compliance scheme is blatantly unlawful in both Europe and the United States and makes a mockery of fair competition in digital markets,” Sweeney posted on social media on Thursday. “Apps with competing payments are not only taxed but commercially crippled in the App Store.”

The European Commission announced the 500 million euro fine in April. The commission at the time said that the tech company might still be able to make changes to avoid the fine.

Apple’s restrictions on steering in the United States were tossed earlier this year, following a court order in the long-running Epic Games case. A judge in California found that Apple had purposely misled the court about its steering concessions in the United States and instructed it to immediately stop asking charging a fee or commission on for external downloads.

The order is currently in effect in the United States as it is being appealed and has already shifted the economics of app development. As a result, companies like Amazon and Spotify in the U.S. can direct customers to their own websites and avoid Apple’s 15% to 30% commission.

In the U.S., Amazon’s iPhone Kindle app now shows an orange “Get Book” button that links to Amazon.com.

This post appeared first on NBC NEWS

It’s a bittersweet day for Windows users.

Microsoft is scrapping its iconic “blue screen of death,” known for appearing during unexpected restarts on Windows computers. The company revealed a new black iteration in a blog post on Thursday, saying that it is “streamlining the unexpected restart experience.”

The new black unexpected restart screen is slated to launch this summer on Windows 11 24H2 devices, the company said. Microsoft touted the updates as an “easier” and “faster” way to recover from restarts.

The software giant’s blue screen of death dates back to the early 1990s, according to longtime Microsoft developer Raymond Chen.

Travelers walk past screens after a major disruption in Microsoft’s cloud services caused widespread flight cancellations and delays at T3 IGI Airport in New Delhi, India, on July 19.Vipin Kumar / Hindustan Times via Getty Images file

Microsoft also said it plans to update the user interface to match the Windows 11 design and cut downtime during restarts to two seconds for the majority of users.

“This change is part of a larger continued effort to reduce disruption in the event of an unexpected restart,” Microsoft wrote.

The iconic blue screen was seemingly everywhere in July 2024 after a faulty update from CrowdStrike crashed computer systems around the world.

This post appeared first on NBC NEWS

Chartists can improve their odds and increase the number of opportunities by trading short-term bullish setups within bigger uptrends. The first order of business is to identify the long-term trend using a trend-following indicator. Second, chartist can turn to more granular analysis to find short-term bullish setups. Today’s example will use the Cloud Computing ETF (SKYY).

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, which has over a dozen reports. These cover the Zweig Breadth Thrust, trend-following signals, trailing stops and finding bullish setups. Check it out!

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