Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, July 25th. I'm Julie Morgan.

Paramount gets the FCC's blessing, no more blank checks at Intel, and China reportedly has a black market for repairs of Nvidia's banned technology.

Paramount Global is up 2.5% in pre-market action. The Federal Communications Commission

approved the company's acquisition by Skydance on Thursday. The agency signed off on the deal

by way of granting a set of applications

transferring FCC licenses and authorizations. The approval followed a set of promises made by

Skydance's David Ellison to the Trump administration about news practices at the New Paramount.

FCC Chairman Brendan Carr said in a statement that Americans

no longer trust the legacy national news media to report fully, accurately, and fairly,

and it is time for a change. The statement goes on to say that in particular, Skydance has made

written commitments to ensure that the new company's programming

embodies a diversity of viewpoints from across the political and ideological spectrum.

Skydance will also adopt measures that can root out the bias that has undermined trust in the national

news media. Among the promises made to secure the approval, Skydance has

committed to fair, unbiased, and fact-based reporting at CBS. In addition, there will be an ombudsman who

will evaluate complaints of bias for at least two years. Skydance won't establish diversity,

equity, and inclusion policies at New Paramount,

and it will commit to local news as a core component of the FCC's public interest standard.

Intel is planning to end the year with a global headcount of 75,000. The verge is reporting that

this number equates to cutting 24,000 people this year alone.

A significant workforce reduction has already happened in Q2 and is part of the new CEO's efforts

...