EVRI has evolved

Hey ZipLawyer! Here's how this week’s news impact law firms.

📦 EVRI gets a PE boost
🏅 LVMH goes big on the Olympics
🤖 Meta hands out AI freebies
💰 CrowdStrike costs insurance a fortune

What you need to know this week

✈️ Aviation Troubles: British Airways' owner may abandon the Air Europa takeover due to EU competition concerns. Ryanair's CEO predicts continued fare drops. At the Farnborough Airshow, executives bemoaned a shortage of Airbus and Boeing planes.

💸 Alphabet's Earnings: Alphabet reported a 14% revenue increase to $84.7bn for Q2, with advertising revenue up 11%. Despite these gains, shares fell 5% in a tech stock sell-off, as investors worried about AI competition like ChatGPT.

🎥 Netflix Boom: Netflix's Q2 earnings per share soared by 48%, adding 8m new subscribers thanks to hits like "Baby Reindeer" and "Bridgerton" Season 3. The streaming giant continues its impressive growth trajectory.

💼 India's Budget: India unveiled a $24bn job-creation budget after losing its parliamentary majority. Measures include wage contributions, internships, and training for women, alongside $18bn for agriculture. Higher capital-gains taxes will help cover costs.

📈 Crypto ETFs: The SEC approved the first ETFs to invest in ether, the world’s second-biggest cryptocurrency, following bitcoin’s SEC-approved ETFs earlier this year.

Royal Mail Faces a New Challenger

What’s going on?

Apollo buys Evri for £2.7bn, ready to shake up the UK delivery game and challenge Royal Mail.

What does it mean?

Apollo’s £2.7bn swoop on Evri is like adding rocket fuel to the UK parcel delivery race. With new funds in its war chest, Evri is gearing up to give Royal Mail a run for its money. This isn't just a minor scuffle; it’s a full-blown delivery duel. Meanwhile, Czech tycoon Daniel Kretinsky, now the proud owner of Royal Mail, is planning an £800m splurge to beef up their parcel services, complete with fancy Amazon-style lockers and bargain-basement prices.

Royal Mail, clinging to its parcel profits like a lifebuoy, is facing a fierce new rival. This could force them to up their game—think faster deliveries, better service, and maybe even a smile from your postie. Grab your popcorn; the parcel wars are on!

How does this impact Law Firms?