Texas Attorney General Investigates StubHub Ticket Issues
Catch up on the weekend's top five stories with this list compiled by The Fly: 1) Texas Attorney General Ken Paxton announced an investigation into StubHub (STUB) over widespread reports that the company is cancelling or failing to provide World Cup tickets that fans have purchased. Since the 2026 FIFA World Cup kicked off, fans across the country have reported that StubHub cancelled their tickets days or even hours before kickoff. StubHub has blamed the cancellations on "transfer problems" tied to FIFA's ticketing platform, but "consumer complaints point to a broader pattern often called "ghost ticketing," in which sellers list tickets they do not actually possess, collect payment, and then cancel when they cannot deliver," the Attorney General said. 2) Continental (CTTAY) announced the sale of its ContiTech group sector to an affiliate of Lone Star Funds for EUR 4B. The transaction also includes performance-based components of up to EUR 250M in subsequent years. The sale of its industrial business is the final step in Continental's realignment. Once completed, the DAX-listed company will become a pure-play tire manufacturer for the first time in its history. The transaction is subject to regulatory approval. After taking into account transferred net liabilities, particularly pension and leasing commitments, Continental expects a cash inflow from the transaction of around EUR 3.1B. Around EUR 2.5B is expected to be used for a special dividend or for a combination of a special dividend and share buybacks. Lone Star Funds will take over all of ContiTech's business operations worldwide. 3) SK Telecom (SKM) announced that it will pursue the construction of an AI data center with a scale of up to 15GW. The goal is to become an AI infrastructure hub in Asia. "The move is intended to preemptively build domestic AI computing infrastructure at a time when demand for AI model training and inference is surging and high-performance computing infrastructure determines national competitiveness," the company said. 4) Alarum Technologies (ALAR) announced the following update. Further to the Company's announcements dated July 2 and July 3, 2026, the Company continues to investigate the recent incident affecting certain aspects of NetNut Ltd's network. As part of this ongoing investigation, and as a precautionary operational measure, the Company has decided to temporarily pause traffic through the relevant network services for several days. This step is intended to enable the Company to investigate the incident, assess the affected infrastructure, determine whether any malicious activity occurred, and implement any measures the Company determines are appropriate before resuming normal operations. The Company believes that temporarily pausing traffic through the relevant network services is the most responsible course of action while the investigation is ongoing. As a result of this temporary operational measure, the availability of the Company's services will be significantly reduced during this period. 5) On social media platform X, Tesla (TSLA) Robotaxi posted, "What's up with Miami? Robotaxi now available in Miami."
