Amazon has purchased MGM studios.

The companies announced the news earlier today. The deal comes with a price tag of more than $8.4 billion dollars. MGM brings its catalog of 4,000 films and 17,000 TV shows as Amazon ramps up its streaming ambitions. This comes amid a bigger push in the media business to double down on streaming. In fact just last week Discovery agreed to merge with WarnerMedia for $43 billion. Amazon’s MGM deal is the second largest in the company’s history. It acquired Whole Foods for almost $14 billion in 2017.

Ford is ramping up its electric vehicle investment.

The automaker says 40% of its sales globally will be electric vehicles by the year 2030. And get this, they want to sell exclusively EV's by 2035. The company announced the news earlier today as part of their investor day. Now in order to reach the goal, Ford says it will invest $30 billion through 2025. This comes following an announcement in February. At that time the automaker pledged an investment of $22 billion

Mortgage demand fell last week. This is according to the Mortgage Banker Association's weekly report out earlier today. 

Total Application volume fell a little more than 4% for the week. That’s over the previous week. Applications Refinance a home loan also ticked down, That’s by about 7%. Increased interest rates drove the downturn. There were few increases across the board, applications to purchase a new home rose by 2% for the week. The average rate for a 30-year fixed mortgage also ticked up but that was marginal. That’s up to less than one-half of one-tenth of one percent.

The European Commission is set to open an antitrust probe into Facebook.

This was first reported by the Financial Times. This is over the social media giant’s promotion of its Marketplace. Regulators are concerned that Facebook is undercutting rivals in the classified ad space on the platform. Reportedly, The EU could open the probe in the coming days. This comes amid a growing push by the European Commission to conduct an antitrust probe on many of the world’s largest tech companies including Apple which according to a recent probe allegedly broke competition rules with the App Store.