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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

Hong Kong pro-democracy political party League of Social Democrats announced on Sunday it had disbanded due to immense political pressure, the latest casualty in a years-long crackdown that has already quieted much of the city’s once-vocal opposition.

Following massive anti-government protests in 2019, many leading activists were prosecuted or jailed under a 2020 national security law imposed by Beijing. Dozens of civil society groups dissolved. Media outlets critical of the government shuttered.

The League of Social Democrats was the only pro-democracy party that still staged small street protests from time to time and held street booth activities to carry on its advocacy despite the risks.

Its chairperson, Chan Po-ying, said the disbandment decision was made after careful deliberation, especially taking into account the consequences to its members and comrades. Chan refused to elaborate on the pressure but said she was proud to say that the party had still contributed to the city’s pro-democracy movement in these few years.

“We have stayed true to our original aspirations and haven’t let down to the trust placed in us by those who went to prison,” she said. “While we are now forced to disband and feel an ache in our conscience, we have no other choice,” she said.

Protests became rare under Beijing’s grip

Hong Kong, a former British colony, will mark the 28th anniversary of returning to Chinese rule on July 1. The city used to hold annual pro-democracy protests that day and other various demonstrations demanding better policies.

But those were ceased after most organizing groups were disbanded and the leading activists were jailed. Critics say the drastic political changes under the security law reflect that the freedoms Beijing promised to keep intact in 1997 are shrinking.

The Beijing and Hong Kong governments insist the law is necessary for the city’s stability. A Chinese official overseeing Hong Kong affairs in 2023 said protests are not the only way for people to express their views, signaling Beijing’s stance toward demonstrations in the city.

In April, Hong Kong’s biggest pro-democracy party, the Democratic Party, also voted to give its leadership the mandate to move toward a potential disbandment. Party veterans told The Associated Press that some members were warned of consequences if the party didn’t shut down. A final vote is expected at a later date.

Chan said she believed the “one country, two systems” principle, which Beijing uses to govern Hong Kong, has already ended, pointing to the Chinese government’s imposition of the security law and introducing the idea of “soft resistance,” a term officials use to refer to underlying security risks.

“One country, two systems has already (become) one country, one system,” she said.

A party known for confrontational tactics

Founded in 2006, the League of Social Democrats was a left-wing political party that opposed what it called collusion between government and business, upheld the principle that people have a say and was firmly committed to the interests of underprivileged residents.

It was widely known for its more aggressive tactics when fighting for change. Its members have thrown bananas, eggs and luncheon meat at officials or pro-Beijing lawmakers as a protest gesture. Its party platform said the group advocated non-violent resistance but would not avoid physical confrontations – a stance that set it apart from older, traditional pro-democracy groups.

It once had three lawmakers in office. Its longest-serving lawmaker, Leung Kwok-hung – Chan’s husband – was disqualified from the legislature due to his manner of taking his oath in office in 2017.

Members arrested and jailed over activism

On the streets, the group’s activism led to the arrests and jailing of its members from time to time.

Last year, Leung and prominent LGBTQ+ activist Jimmy Sham, a former party leader, were sentenced to nearly seven years and more than four years over their roles in an unofficial primary election under the sweeping security law. Sham was freed from prison last month.

In recent years, the party has had limited political influence, no longer holding any seats in the legislature or local district councils. Even a bank ceased to provide bank account services to the group.

But it continued to stage small protests from time to time, despite sometimes those activities leading to arrests. On June 12, Chan and other members were fined after being found guilty over their street booth activities.

Undeterred by their convictions, they kept pressing on and protested against the ruling outside the court.

Chan wiped away tears during Sunday’s press conference and chanted slogans with other members at the end.

She said she doesn’t believe that democracy will come in the near future.

“Moving forward is not at all easy,” she said. “I hope everyone can become like an ember, a flying spark – still carrying light, keeping that light alive, no matter how small it may be.”

This post appeared first on cnn.com

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

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

The Israeli military detained six settlers in the occupied West Bank overnight after the Israel Defense Forces (IDF) say the suspects attacked security forces.

The IDF says they spotted Israeli civilians driving toward a closed military zone near the Palestinian village of Kafr Malik, where days earlier settlers set fire to homes and vehicles in an attack Palestinian officials say killed three people.

When Israeli forces approached the group, the IDF says the soldiers were physically assaulted and verbally abused. In addition, the suspects vandalized and damaged the security forces’ vehicles and attempted to ram the forces.

Six suspects were apprehended and transferred to police, the IDF said.

“The IDF and Israel Police condemn any act of violence against security forces and will act firmly against any attempt to harm security personnel carrying out their duty to protect Israeli citizens,” the IDF said in a statement.

Israeli politicians condemned the settler attacks against Israeli security forces.

Head of the opposition Yair Lapid said in a statement on social media, “The extremists who attack IDF soldiers who are guarding the security of the State of Israel during these difficult days are dangerous criminals who are aiding our enemies.”

Yair Golan, the head of the left-wing Democrats party, who had called earlier settler attacks in the area a “violent Jewish pogrom,” said the violence from “the Kahanist, nationalist, and fantastic Israel is deliberately working to dismantle the Jewish and democratic Israel.” Golan referenced Meir Kahane, an extremist rabbi whose political party was banned outright in Israel under anti-terror laws.

“This is not a marginal occurrence. This is a dangerous current that has taken deep roots. Even around the government table,” Golan said, a reference to the far-right ministers that prop up the coalition government, including Itamar Ben-Gvir and Bezalel Smotrich, both of whom were sanctioned earlier this month by the UK, Canada, and other Western allies. Smotrich has called for formal annexation of West Bank settlements, while Ben-Gvir’s party consists of followers of Kahane’s banned political party.

In a statement, Defense Minister Israel Katz called on law enforcement authorities to act immediately to locate all those who resorted to violence and bring them to justice “as is done everywhere.”

On Friday, Nabil Abu Rudeineh, spokesman for the Palestinian Authority presidency, said the settler attacks are part of a plan by Israel’s “extremist right-wing government” to drag the West Bank into a larger confrontation, according to the Palestinian news agency WAFA. Abu Rudeineh held Israel fully responsible for “the consequences of this bloody aggression,” WAFA said.

Israel has been ramping up military operations in the West Bank alongside the offensive in Gaza and attacks on Iran and its proxies, displacing thousands of Palestinians and razing entire communities as it targets what it says are militants operating in the territory.

Earlier this week, Israeli forces shot dead a Palestinian teenager in the West Bank, Palestinian health authorities said. The Israeli military said that “terrorists hurled explosive devices at IDF forces.”

In late-May, Israel approved a massive expansion of settlements in the occupied West Bank in a move decried as de facto annexation of large swaths of the territory. Peace Now, an Israeli non-governmental organization that tracks settlements, said it was the largest expansion of settlements since the signing of the Oslo Accords more than 30 years ago.

Israel plans to establish 22 new settlements, including deep within the West Bank and in areas from which the country had previously withdrawn. Israeli settlements in the occupied West Bank, as well as in East Jerusalem and the occupied Golan Heights, are considered illegal under international law.

This post appeared first on cnn.com

Beneath a blaze of rainbow flags and amid roars of defiance, big crowds gathered in the Hungarian capital Budapest for the city’s 30th annual Pride march – an event that, this year, is unfolding as both a celebration and a protest.

Moving through the capital in the sweltering heat, demonstrators carried signs reading “Solidarity with Budapest Pride” and waved placards bearing crossed-out illustrations of Prime Minister Viktor Orbán.

Music played from portable speakers as people of all ages joined the march – families with pushchairs, teenagers draped in capes, and older residents walking alongside activists.

From the city’s historic centre to its riverside roads, the procession swelled in numbers and noise – visibly reclaiming public space in defiance of a law designed to push them out.

The march proceeded in open defiance of a police ban imposed earlier this year under sweeping new legislation that prohibits LGBTQ+ events nationwide.

Eszter Rein Bodi was one of those who joined the massive crowds in Budapest on Saturday, telling Reuters: “This is about much more, not just about homosexuality … This is the last moment to stand up for our rights.”

Krisztina Aranyi, another marcher, told the news agency that “the right to assembly is a basic human right, and I don’t think it should be banned.”

She added, “Just because someone does not like the reason why you go to the street, or they do not agree with it, you still have the right to do so.”

Huge crowds turned out in the city for the parade, with many holding homemade banners aloft. One sign read “Transgender people are a blessing on this earth” while another banner read “Proud. United. Equal in every corner of the EU.”

“Pride is a protest, and if Orbán can ban Budapest Pride without consequences, every pride is one election away from being banned,” she continued.

In March, Hungarian lawmakers passed legislation barring Pride events and permitting the use of facial recognition technology to identify participants – measures campaigners say is illegal and part of a wider crackdown on the LGBTQ+ community.

Orban welcomed the ban, which he said would outlaw gatherings that “violate child protection laws.” His government has pushed a strongly Christian and conservative agenda.

The ban sparked lively protests in Budapest in March, with organizers of the city’s Pride vowing to continue with the annual festival despite the new law and declaring: “We will fight this new fascist ban.”

A petition demanding police reject the ban has gathered over 120,000 signatures from supporters in 73 countries, urging authorities to “reject this unjust law” – believed to be the first of its kind in the EU’s recent history – and ensure that the march proceeded “unhindered and peacefully, free from discrimination, harassment, fear or violence.”

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After Jeff Bezos and Lauren Sanchez tied the knot in Venice on Friday, a few hundred protesters gathered Saturday at a city train station for a march, united with one message for the Amazon billionaire and his bride: go away.

“Bezos, f**k off,” they chanted in Italian. “Out of our lagoon!”

One bearded man toted a Shrek-themed placard with the same message: “Get Out of Our Lagoon,” the “a” in lagoon sprouting Shrek ears, with a Spotify link below for the theme song from the first movie in the series, Smash Mouth’s “All Star.”

“Bezos goes hand-in-hand with (US President Donald) Trump, who’s fueling more money in war,” one woman bellowed into a microphone by the station. “We are for peace.”

Sofia D’Amato, a 22-year-old Venetian, emphasized that the protests weren’t about envy for Bezos’ wealth or power.

Venice’s Ministry of Tourism says the three-day wedding, which reportedly cost $55 million, could provide a boost of almost 68% of the city’s annual tourism turnover. On top of that, Sanchez and Bezos gave 1 million euros each to three Venetian cultural institutions, according to Reuters; a total of 3 million euros worth of donations.

Their philanthropy left D’Amato unimpressed.

“They say that Jeff Bezos donated money to Venice,” D’Amato said. “It was donated after our dissent. Such a sum for a magnate is paltry.”

Protesters drew a stark contrast between the decadence of Bezos and Sanchez’s wedding the day before and the harsh realities of working at the billionaire’s company.

“We can barely pay the rent,” one woman, who identified herself as an Amazon worker, told a crowd of demonstrators. “Many of us come from far away to reach the warehouse. We make do … we don’t see these millions.”

Some protesters joined in an old leftist chant as the demonstration moved toward the Ponte delle Guglie: “The people united will never be defeated.”

At least one protester took aim at the couple’s fashion sense with a sign declaring that “Money Can’t Buy Style.”

Many held aloft Amazon boxes with various messages inscribed: “Rejected,” “No Space for Bezos.”

Multiple flags were visible among the protesters: Palestinian flags, pride flags, anti-fascist flags and Venice’s fimbriated red standard were among the popular choices. A few individuals waved a modified version, the sword-bearing golden lion at its hoist wearing a black balaclava.

Venice city officials were unamused by the protesters, denouncing them in a press release as “ridiculous” and “grotesque.”

“Contesting a wedding (any wedding) is already ridiculous in itself. But here we have exceeded all limits of common sense,” read a municipal statement released Saturday. “We have descended into the folklore of ‘No to everything.’”

This post appeared first on cnn.com