Air taxi maker Joby Aviation spikes 27% following a $250 million Toyota investment

5/28/25 12:16PM

Electric air taxi company Joby Aviation is getting some wind beneath its carbon fiber propellers following an announcement that it received a $250 million investment from Toyota.

The money is half of a larger sum Toyota said it would pour into Joby last October. Toyota, the world’s largest automaker, also invested about $400 million in Joby in 2020. Joby shares shot up 27% in midday trading.

Companies specializing in electric vertical takeoff and landing (eVTOL) aircraft have struck some significant deals lately. In April, Archer Aviation, which was recently selected as the “Official Air Taxi Provider” of the LA Olympics in 2028, said it’s partnering with United Airlines to create an NYC airport shuttle service.

Joby in March said it would partner with Virgin Atlantic to launch its air taxi service in the UK, adding to its exclusive deal with Delta Air Lines.

While air taxi companies are partnering with airlines for shuttle service, they’ve been partnering with automakers for manufacturing. Like Toyota’s production partnership with Joby, Archer has received multimillion-dollar investments from Jeep maker Stellantis. Meanwhile, Hyundai has its own eVTOL startup called Supernal. Plane manufacturers Boeing and Airbus are similarly developing their own electric air taxis.

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Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

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Netflix taps Amazon to sell streaming ads in new partnership

Starting this fall, brands will be able to access Netflix’s premium ad slots using Amazon’s buying tech.

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Bank branches are still closing at breakneck speed in the US

Institutions like Chase and Wells Fargo closed 76 locations in just six weeks over the summer, per the OCC.

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

Air taxi maker Joby Aviation spikes 27% following a $250 million Toyota investment

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