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Saudi-owned Scopely buys Pokémon Go in $3.5bn gaming deal

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Saudi-owned Scopely buys Pokémon Go in .5bn gaming deal

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Scopely, the Saudi-owned developer behind hit mobile game Monopoly Go!, has agreed a $3.5bn deal to acquire Pokémon Go and a handful of other apps from creator Niantic, which is pivoting to focus on artificial intelligence.

Pokémon Go became an overnight sensation when it launched in 2016, emerging as one of the most popular and lucrative mobile games while also pioneering a new kind of “augmented reality” app that places digital characters over images of the real world when viewed through a smartphone’s camera window.

It remains one of the highest-grossing mobile games today, with 30mn monthly players spending more than $1bn last year across Niantic’s games business.

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The deal will give Scopely, which was acquired by Saudi-owned Savvy Games Group in 2023 for $4.9bn, a total audience of more than 500mn players, driven by the huge success of Monopoly Go! The app was the second-highest-grossing mobile game of last year, according to App Store researcher AppMagic, with players spending an estimated $2.2bn.

“We are extremely inspired by what the [Niantic] team has built over the past decade, delivering innovative experiences that captivate a vast, enduring global audience and get people out in the real world,” said Tim O’Brien, chief revenue officer at Scopely. “Few games in the world have delivered the scale and longevity of Pokémon Go, which reached over 100mn players just last year.”

San Francisco-based Niantic, which was spun out of Google’s mapping unit in 2015 and valued at $9bn in 2021, is selling its games business to Scopely at the same time as spinning off a new unit focused on “geospatial AI”, to develop its “next generation map” of the world formed from images and location data captured by its players.

John Hanke, Niantic’s founder and chief executive, said its new venture, called Niantic Spatial, was working on maps that make “the world intelligible for machines” from smart glasses to robots. “Niantic is building the models that will help AI move beyond the screen and into the real world,” he said.

Scopely will continue to share some player data from its games as part of a $50mn investment in Niantic Spatial, which will also be capitalised using €200mn of its former parent’s balance sheet.

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Niantic’s existing investors — who include Nintendo, Google, Coatue and IVP — will receive $3.5bn in proceeds from the sale, as well as $350mn previously held on the company’s balance sheet, and will also become shareholders in the AI spin-off.

For Savvy, the deal is the latest step in a plan by Crown Prince Mohammed bin Salman to make Saudi Arabia a global hub for gaming. The plan kicked off in 2022 when the government unveiled a national gaming and esports strategy, with the kingdom’s sovereign wealth fund tasked with achieving that goal as part of the country’s efforts to diversify its economy away from dependence on oil revenues.

The Public Investment Fund earmarked nearly $40bn to make the kingdom a force in gaming and build a local industry, with plans to establish 250 gaming companies in Saudi Arabia and create 39,000 jobs by 2030. Savvy is seen as the main vehicle for these ambitions. A string of deals followed, including taking stakes in Nintendo, Electronic Arts, Activision Blizzard and Take-Two Interactive.

The country has also hosted major video gaming tournaments in recent years. The latest of those events came last summer when Riyadh hosted the Esports World Cup, where more than 500 teams competed for a prize pool of more than $60mn.

The Saudi push into video gaming is expected to continue, with the kingdom set to host the first Olympic Esports Games in 2027 after the country signed a 12-year deal with the International Olympic Committee last year.

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Cleanup under way after massive storm barreled across at least eight US states

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Cleanup under way after massive storm barreled across at least eight US states

Clean up efforts have started in several US states which endured destructive storms that killed more than 40 people over the weekend.

The massive storm system in question swept across at least eight states in the south and midwest over the weekend, with multiple tornadoes, wildfires and dust storms descending on the region, destroying thousands of businesses and homes.

The governors of Arkansas, Georgia and Oklahoma each declared a state of emergency over the weekend in the wake of the storm. Red flag warnings still remain for states in the midwest and south, including Texas and Oklahoma, meaning those states are still at risk of high, dry winds that could lead to wildfires.

There were 96 tornadoes reported in the region on Friday and Saturday, according to the National Weather Center’s Storm Prediction Center.

The death toll from the storm continued to go up on Sunday after two children were killed in Transylvania county, North Carolina, after a tree fell through their family’s trailer.

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Missouri has the highest death toll, with 12 dead from tornadoes and wildfires that hit the state. At the storm’s peak, more than 140,000 homes and businesses lost power. As of Monday morning, more than 20,000 customers in the state were still without power.

In a statement on Sunday Mike Kehoe, Missouri’s governor, said: “The scale of devastation across our state is staggering.”

Hurricane-force winds in Texas and Oklahoma led to wildfires that spread in multiple communities across the two states. In Oklahoma, at least 130 wildfires had been reported in the state by Friday, with the dry, powerful gusts setting large swaths of land aflame. A ranch outside of Oklahoma City owned by the governor, Kevin Stitt, was burned in one of the wildfires.

In a video taken for social media, Stitt showed the remains of his ranch, saying that he is “rebuilding with all of Oklahoma”.

“You never think it’s going to happen to your place, and these wildfires just come out of nowhere and can really take over,” Stitt said.

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In Kansas, at least eight people died after a 70-vehicle pileup on an interstate highway during a dust storm on Friday afternoon that led to near-zero visibility on the roads.

On the Louisiana-Mississippi border, two powerful tornadoes formed concurrently and took the same path, ultimately leaving three dead in Tylertown, Mississippi, a town of fewer than 2,000 people.

William Shultz of Tylertown told NBC News that he was “holding my wife to my chest and just watching everything disappear and watching everything get ripped out away from me”, he said. “I’m just thankful to be alive.”

In a post on Truth Social on Sunday, Donald Trump said that the national guard had been deployed to Arkansas, where tornados have left three dead. The president also said: “My administration is ready to assist state and local officials as they help their communities to try and recover from the damage.”

Trump’s statement notably lacked any mention of help from the Federal Emergency management Agency (Fema), which helps with disaster reliefs after severe weather events. The president and Elon Musk, the head of the so-called “department of government efficiency” (Doge) and the architect behind the mass government layoffs, have come under criticism for laying off workers in agencies including Fema.

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Advocacy groups have pointed out that it appears hundreds of Fema employees have been terminated over the last few weeks. In January, after being sworn into office, Trump floated the idea of scrapping Fema completely, calling it “very bureaucratic” and “very slow”.

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U.S. to Withdraw From Group Investigating Responsibility for Ukraine Invasion

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U.S. to Withdraw From Group Investigating Responsibility for Ukraine Invasion

The Justice Department has quietly informed European officials that the United States is withdrawing from a multinational group created to investigate leaders responsible for the invasion of Ukraine, including President Vladimir V. Putin of Russia, according to people familiar with the situation.

The decision to withdraw from the International Center for the Prosecution of the Crime of Aggression against Ukraine, which the Biden administration joined in 2023, is the latest indication of the Trump administration’s move away from President Joseph R. Biden Jr.’s commitment to holding Mr. Putin personally accountable for crimes committed against Ukrainians.

The group was created to hold the leadership of Russia, along with its allies in Belarus, North Korea and Iran, accountable for a category of crimes — defined as aggression under international law and treaties that violates another country’s sovereignty and is not initiated in self-defense.

The decision, the people familiar with the situation said, is expected to be announced on Monday in an email to the staff and membership of the group’s parent organization, the European Union Agency for Criminal Justice Cooperation, better known as Eurojust.

The United States was the only country outside Europe to cooperate with the group, sending a senior Justice Department prosecutor to The Hague to work with investigators from Ukraine, the Baltic States and Romania.

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A department spokesman did not immediately respond to a request for comment on Sunday night.

The Trump administration is also reducing work done by the department’s War Crimes Accountability Team, created in 2022 by the attorney general at the time, Merrick B. Garland, and staffed by experienced prosecutors. It was intended to coordinate Justice Department efforts to hold Russians accountable who are responsible for atrocities committed in the aftermath of the full invasion three years ago.

“There is no hiding place for war criminals,” Mr. Garland said in announcing the organization of the unit.

The department, he added, “will pursue every avenue of accountability for those who commit war crimes and other atrocities in Ukraine.”

During the Biden administration, the team, known as WarCAT, focused on an important supporting role: providing Ukraine’s overburdened prosecutors and law enforcement with logistical help, training and direct assistance in bringing charges of war crimes committed by Russians to Ukraine’s courts.

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The team did bring one significant case. In December 2023, U.S. prosecutors used a war crimes statute for the first time since it was enacted nearly three decades ago to charge four Russian soldiers in absentia with torturing an American who was living in the Kherson region of Ukraine.

In recent comments, President Trump has moved closer to Mr. Putin while clashing with Ukraine’s president, Volodymyr Zelensky — going so far as to falsely suggest that Ukraine played a role in provoking Russia’s brutal and illegal military incursion.

“You should have never started it,” Mr. Trump said in February, referring to Ukraine’s leaders. “You could have made a deal.” He followed up in a post on social media, calling Mr. Zelensky a “Dictator without Elections” and saying he had “done a terrible job” in office.

The Trump administration gave no reason for withdrawing from the investigative group other than the same explanation for other personnel and policy moves: the need to redeploy resources, according to the people familiar with the situation, who spoke on the condition of anonymity because they were not authorized to discuss the moves publicly.

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Young Americans lose trust in the state

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Young Americans lose trust in the state

Young Americans’ confidence in the apparatus of government has dropped dramatically to one of the lowest levels in any prosperous country, a Financial Times analysis of Gallup data shows. 

The Gallup polls, conducted by surveying 70,000 people globally over the course of 2023 and 2024, found that less than a third of under-30s in the US trust the government. The proportion of US young people who said they lack freedom to choose what to do with their lives also hit a record high at 31 per cent in 2024 — a level worse than all other rich economies, bar Greece and Italy. 

“[For younger people in the US] the future seems kind of bleak,” said Julie Ray, managing editor at Gallup. 

While the Gallup poll does not cover the direct repercussions of US President Donald Trump’s second term, experts believe that rising political polarisation is likely to lead to a sharp drop in trust in future surveys. 

Connor Brennan, a 25-year-old financial economics PhD student at the University of Chicago, and disillusioned Republican, said he trusted the “big figures” in politics “a little less” now than in the past. 

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“Friends, families these days are more and more torn apart by politics and seeing that (politics) taken as almost entertainment,” Brennan said. “It should be boring . . . it really has become more and more like, you watch the latest episode of the sitcom.”

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The proportion of young people in the US reporting no confidence in the judicial system also hit a record high in 2024, while more than a third of under-30s also do not trust the police. 

“I would not say I trust the government — a lot of things that have changed quite recently that call the government’s ability to be honest with the American people into question,” said Daniel Quezada, a 22-year-old substitute teacher in Arkansas, adding that he also had a “profound, profound sense of scepticism” regarding the police after being peacefully involved in protests in 2020. 

Elsewhere in the world, young people in Greece and Italy are among the most dissatisfied with public services and confidence in institutions. Nordic economies, such as Finland, Denmark and Norway, tend to be the best performers.

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Some 61 per cent of young people in the US also reported having recently experienced stress, the third-highest proportion among advanced economies after Greece and Canada. 

Daniel Quezada
Daniel Quezada: ‘A lot of things that have changed quite recently that call the government’s ability to be honest with the American people into question’ © Daniel Quezada

US Centers for Disease Control and Prevention data show US emergency department visits for self-harm reached 384 people per 100,000 population among those aged 10 to 29 in 2022, up from 260 a decade earlier and four times the rate for those aged 30 and over.

The collapse in young people’s happiness in the US and elsewhere has been pinned on factors ranging from political polarisation, stagnating quality of life to difficulties in getting on the property ladder.

Haifang Huang, an economics professor at the University of Alberta, referred to “a laundry list” of factors, including labour-market challenges after the 2008-09 global financial crisis, the high cost of housing and rising inequality among the young exacerbated by inheritance and parental supports. “It is hard to evaluate their relative contributions.”

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Social psychologist Jonathan Haidt in his book, The Anxious Generation, blames the mental health crisis in all main Anglosphere countries on the mass adoption of smartphones, along with the advent of social media and addictive online gaming.

John Helliwell, a founding editor of Gallup’s World Happiness Report, said that the trends in the data supported the view that the decline in trust and wellbeing among young people “has something to do with the kind of stories being told on social media”. 

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Political polarisation, meanwhile, had also resulted in a “situation where there’s no agreed set of common information”. 

“If there’s nobody who you believe, then of course, your trust is going to be low in everybody,” Helliwell said. “That’s been increasingly happening in the US, because people are denying each other’s facts and living in their own media isolation.”

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While young Americans are relatively upbeat about their economic prospects — a reflection of their higher-than-average earnings and low unemployment rate — some are becoming gloomy about growth too.  

“The economy isn’t doing great — there were a lot of issues with relatively high inflation and high cost of living, massive wealth inequality, concerns with employment that were iterated by both sides in the election leading up to this year,” said Misha Newbold, a 20-year-old student at Johns Hopkins University in Baltimore who grew up in Kansas. 

Newbold added that he disagreed with cuts to federal agencies undertaken by technology billionaire Elon Musk’s Department of Government Efficiency (Doge). “I think cutting employment opportunities, shrinking a lot of the government agencies that make this country run . . . is actually counter-productive to the employment concerns.”

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Brennan, meanwhile, said he was increasingly concerned about the US’s fiscal position, with the national debt set to balloon over the coming decade. 

He also thinks an economic crisis borne of Trump’s policies would not be viewed by the president’s supporters as being down to mistakes made by the White House.

“That’s what worries me the most — that, even if we are confronted with issues that should cause us to have some sort of come to Jesus moment, I don’t think we’ll come to Jesus.”

Data visualisation by Valentina Romei and Alan Smith in London

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