The new company will have more than $28 billion in revenue and comprise brands such as MTV, Comedy Central and Showtime, as well as Paramount Pictures and publisher Simon & Schuster.
Also boosting investor sentiments were comments from China that the Washington and Beijing held discussions on trade overnight and would talk again the next two weeks.
The United States delays tariffs on Chinese-made cellphones, laptop computers and other items and removes other Chinese imports from its target list altogether.
Investor anxiety has been fed by President Donald Trump's threat of new US tariff hikes on Chinese goods, protests in Hong Kong and weaker-than-expected data from India, Argentina and Singapore.
Markets panicked as the peso closed at 57.30 to the dollar, a drop of 18.76 per cent from its Friday closing figure, while the Merval index crashed 38 percent by close.
Cathay became embroiled in Hong Kong's protests when China's civil aviation regulator demanded the airline suspend personnel who engaged in or supported illegal protests in Hong Kong from staffing flights into its airspace.
Hong Kong is facing an economic crisis worse than either the 2003 SARS outbreak that paralysed the city or the 2008 financial crisis, leader Carrie Lam said.
The company also admitted "there have been occasions" when the percentage of interns exceeded permitted levels and said it has taken steps to comply with the relevant labour law.
UK's gross domestic product fell 0.2 percent in the April-June period, the first time the economy has contracted in almost seven years, the Office for National Statistics (ONS) said.
The Central Bank’s latest figures revealed the current account gap in June fell by nearly 82 percentage points year-on-year, improving from a nearly $3 billion deficit in the same month in 2018.
The highly-anticipated software is considered crucial for the tech giant's survival amid a White House ban on US companies selling technology products to them.
Goldman Sachs has been under scrutiny for its alleged role in helping to raise funds through bond offerings for 1Malaysia Development Bhd (1MDB).
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