Paramount's hostile bid for Warner Bros. Discovery dominates headlines, with opinions split on whether Warner shareholders should decide the fate of its existing Netflix deal, while President Trump injects himself into the regulatory process, raising concerns about market share concentration and the future of Hollywood.

• Paramount Made a Hostile Bid for Warner After Netflix Deal. What Happens Next? — Wall Street Journal -
• Opinion | Let Warner’s Shareholders Decide — Wall Street Journal -
• FirstFT: Paramount launches $108bn hostile bid to buy Warner Bros Discovery — Financial Times -

• Paramount Makes $77.9 Billion Hostile Bid for Warner After Netflix Struck Deal — Wall Street Journal -
• Paramount Makes Hostile Bid for Warner Bros. Discovery — The New York Times Business -
• Inside Paramount’s $108bn hostile bid for Warner Bros — Financial Times -
• Paramount gatecrashes Warner Bros-Netflix deal — Financial Times -
• Trump Stands in the Middle as Netflix and Paramount Vie for a Megadeal — The New York Times Business -
• Jared Kushner Is Part of Paramount’s Bid for Warner Bros. Discovery — The New York Times Business -
• Paramount’s WBD bid relegates Netflix to a supporting role — Financial Times -
• Golden Globe Nominations Confirm the Allure of Warner Bros. — The New York Times Business -
• Opinion | The Netflix-Warner Bros. Deal Could Revive Hollywood — Wall Street Journal -
• What Netflix Gains From Buying Warner Bros. — Wall Street Journal -
• Trump Looms Over Netflix’s Deal for Warner Bros. Discovery — The New York Times Business -
• FirstFT: Opposition grows to Netflix-Warner Bros deal — Financial Times -
• Trump says Netflix market share ‘could be a problem’ for $83bn Warner deal — Financial Times -
• Trump Says Netflix-Warner Deal ‘Could Be a Problem’ — Wall Street Journal -

President Trump's administration is active in several key areas, from clearing the sale of powerful Nvidia AI chips to China to **unveiling a $12 billion bailout for farmers impacted by tariffs, alongside Supreme Court deliberations on expanding presidential power to fire independent officials and plans for a single federal rule on AI regulation**.

• Trump Clears Sale of More Powerful Nvidia A.I. Chips to China — The New York Times Business -
• Trump Unveils $12 Billion Bailout for Farmers — Wall Street Journal -
• Supreme Court Seems Poised to Give Trump More Power to Fire Independent Officials — The New York Times Business -

• US announces $12bn aid package for farmers hit by tariffs — Financial Times -
• Despite Trump’s Tariffs, China’s Trade Surplus Climbs Past $1 Trillion for First Time — The New York Times Business -
• China’s Weak Currency Is Powering Its Exports and Drawing Criticism — The New York Times Business -
• Planes, Trade and Nuclear Energy: Supreme Court Weighs Fate of Independent Regulators — The New York Times Business -
• Trump to issue executive order for single federal rule on AI regulation — Financial Times -
• Emerging markets are shrugging off Trump’s tariffs — Financial Times -
• Trump’s America and a clash of civilisations with Europe — Financial Times -
• Powell Faces Pressure From Multiple Fronts as Fed Prepares to Cut Rates — The New York Times Business -
• Trump drives historic shift of power from investors to boardrooms — Financial Times -
• Trump Tasks Top Advisers With Finding Way to Lower Soaring Beef Prices — Wall Street Journal -

The rapid evolution of AI sees **IBM acquiring Confluent for $11 billion to boost its AI capabilities, while Google's TPU chip sparks concern among AI competitors like OpenAI and Nvidia, and AI-generated videos flood social media, highlighting both technological advancements and regulatory challenges like antitrust and depreciation accounting**.

• IBM extends AI push with $11bn takeover of Confluent — Financial Times -
• A.I. Videos Have Flooded Social Media. No One Was Ready. — The New York Times Business -
• A.I. Videos Have Flooded Social Media. No One Was Ready. — The New York Times Business -

• Google’s ‘TPU’ chip puts OpenAI on alert and shakes Nvidia investors — Financial Times -
• Nvidia Takes Top Spot in the List of Best-Managed Companies of 2025 — Wall Street Journal -
• IBM Strikes $11 Billion Deal for Confluent — Wall Street Journal -
• AI poses a new antitrust problem — Financial Times -
• Amazon Leads $81 Million Financing for Battery Startup Blue Current — Wall Street Journal -
• The Accounting Uproar Over How Fast an AI Chip Depreciates — Wall Street Journal -
• The power crunch threatening America’s AI ambitions — Financial Times -
• Ad Spend to Grow More Than Expected in 2025 as Tariffs Sting Less and AI Gives a Leg Up — Wall Street Journal -

Significant corporate activity includes PepsiCo reaching a deal with activist Elliott to cut costs and lower prices, **Boeing completing its $4.7 billion acquisition of Spirit AeroSystems, and L'Oréal doubling its stake in Swiss skincare company Galderma, alongside leadership changes at Berkshire Hathaway and major investment deals like Brookfield's agreement for Australia’s National Storage**.

• PepsiCo reaches deal with activist Elliott to stave off proxy fight — Financial Times -
• PepsiCo to Cut Costs, Lower Food Prices in Deal With Activist — Wall Street Journal -
• Berkshire’s Geico Boss Todd Combs Leaves for JPMorgan Ahead of Buffett Retirement — Wall Street Journal -

• Boeing Completes Acquisition of Spirit AeroSystems, a Major Supplier — The New York Times Business -
• Brookfield’s Oaktree to invest in Allianz insurance risks — Financial Times -
• L’Oréal Doubles Stake in Swiss Skincare Company Galderma — Wall Street Journal -
• Boeing completion of $4.7bn Spirit purchase paves way for Airbus supplier deal — Financial Times -
• Berkshire Hathaway stock picker Todd Combs to leave for JPMorgan — Financial Times -
• BNP Paribas Increases Stake in Belgian Insurer Ageas as Part of $3.5 Billion Deal — Wall Street Journal -
• Kloeckner & Co Shares Rise on Takeover Talks With Worthington Steel — Wall Street Journal -
• Repsol, HitecVision to Merge JV With TotalEnergies UK’s Upstream Business — Wall Street Journal -
• Brookfield, GIC Agree $4.5 Billion Deal for Australia’s National Storage — Wall Street Journal -

International news highlights a UK government adviser urging tourism boosts in offshore tax havens, **Zelenskyy’s progress on a revised US peace plan for Ukraine, and EU backing 'return hubs' for migration, while Japan builds a rare-earth supply chain without China and tensions rise with Thailand striking Cambodia amidst broader concerns over China's influence and defense spending**.

• UK should boost tourism in offshore tax havens, says government adviser — Financial Times -
• Zelenskyy says European allies close to finalising revised US peace plan — Financial Times -
• The White House’s rupture with the western alliance — Financial Times -

• UK military figures urge Starmer to commit to higher defence spending — Financial Times -
• How Japan Built a Rare-Earth Supply Chain Without China — The New York Times Business -
• Blair out of running for Gaza ‘board of peace’ — Financial Times -
• British universities’ reliance on Chinese fees fuelling self-censorship, say academics — Financial Times -
• EU backs migration ‘return hubs’ in echo of Trump’s crackdown — Financial Times -
• America, the western hemisphere and the laws of war — Financial Times -
• Brussels delays ‘made in Europe’ plan after backlash — Financial Times -
• Israel’s ‘new border line’ in Gaza casts doubt on future of Trump peace plan — Financial Times -
• Thailand strikes Cambodia as Trump-backed truce collapses — Financial Times -
• German Shipbuilder TKMS Reports Rise in Sales, Earnings Fueled by Europe’s Defense Spending — Wall Street Journal -
• France shielding €18bn Russian asset pot from EU ‘reparations loan’ push — Financial Times -
• Indonesia’s authoritarian tilt — Financial Times -
• British-Palestinian artist Rosalind Nashashibi wants to talk about Gaza — Financial Times -
• Hongkongers sit out first election since deadly fire — Financial Times -
• Atlantic Bastion: the UK’s response to Russia’s submarine threat — Financial Times -

Financial markets face scrutiny as the SEC's chief accountant weighs changes to audit inspections, concerns grow about retail investors driving gold and US stocks to bubble territory, and central banks like the BoE and BoJ navigate cost-cutting and potential rate rises, all while inflation remains a primary risk for investors and new FCA disclosure rules aim to boost investment.

• Basic Materials Roundup: Market Talk — Wall Street Journal -
• Financial Services Roundup: Market Talk — Wall Street Journal -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -

• Faith-based oil driller is first US company to block investor class-action lawsuits — Financial Times -
• Why the SEC’s Top Accountant Is Weighing Changes to Audit Inspections, Conflict-of-Interest Rules — Wall Street Journal -
• Strategy’s stock slide leaves bitcoin’s biggest booster with dwindling options — Financial Times -
• BoE launches cost-cutting drive to fund analysis upgrade — Financial Times -
• Big-name US department stores take credit risk and put a bow on it — Financial Times -
• Monetary Policy Radar preview: a hawkish Fed cut — Financial Times -
• FCA to replace ‘unengaging’ EU disclosure rules for investors — Financial Times -
• Retail investors help drive gold and US stocks to bubble territory, BIS warns — Financial Times -
• Powell Faces Pressure From Multiple Fronts as Fed Prepares to Cut Rates — The New York Times Business -
• October wage data helps case for a December BoJ rate rise at the margin — Financial Times -
• Bessent’s brag — Financial Times -
• Inflation, inflation, inflation — the main risk ahead for investors — Financial Times -
• How the bank behind London’s most expensive office lease unravelled — Financial Times -

Key domestic stories include Obamacare users facing higher deductibles and premiums, Toll Brothers sounding a cautious note on lagging housing demand, and drugmakers increasingly ditching middlemen to sell directly to patients, alongside legal challenges like the ICEBlock app lawsuit against the US government and ongoing discussions about Social Security planning and online casino revenues for states.

• Toll Brothers Sounds Cautious Note for 2026 on Lagging Housing Demand — Wall Street Journal -
• Obamacare Users Will Be Asked to Pay More for Plans That Cover Less — The New York Times Business -
• App That Tracks ICE Raids Sues U.S., Saying Officials Pressured Apple to Remove It — The New York Times Business -

• Social Security at 70? Why the Gold Standard Advice Works for Only a Few — The New York Times Business -
• Oil Futures Snap Three-Session Winning Streak — Wall Street Journal -
• Instagram and Facebook Users in Europe Get Option of Sharing Less Data — The New York Times Business -
• Palestine Action activist accused of hammer attack tells trial that group never planned violence — Financial Times -
• With MaXhosa Africa, Laduma Ngxokolo Is Reweaving South Africa’s Story — The New York Times Business -
• Drugmakers Are Ditching Middlemen to Sell Directly to Patients — Wall Street Journal -
• Police review claims that Farage breached campaign spending limit — Financial Times -
• Submit your questions to Jemima Kelly: Is the vibe shift for real? — Financial Times -
• Jay-Z’s investment firm targets $500mn Korean pop culture-focused fund — Financial Times -
• Honduras ruling party alleges Trump-backed ‘electoral coup’ — Financial Times -
• Wolf-Krugman: We need to talk about men — Financial Times -
• Magnum Ice Cream Hits $9 Billion Market Capitalization on Trading Debut — Wall Street Journal -
• Rejina Pyo joins the indie retailers reinventing Notting Hill — Financial Times -
• Chinese Auto Sales Extend Declines, But Exports Remain Strong — Wall Street Journal -
• States Are Raking In Billions From Slot Machines on Your Phone — The New York Times Business -
• Starmer’s Substack is a good move poorly executed — Financial Times -
• FTAV’s further reading — Financial Times -
• Why CEOs are losing appetite for investing in Europe — Financial Times -
• The UK must do more than go on muddling through — Financial Times -
• Airwallex plots Silicon Valley expansion after securing $8bn valuation — Financial Times -
• Risks, realism and global realignments — the latest books on economics — Financial Times -
• Reform UK councillor’s company fined £40,000 for hiring illegal worker — Financial Times -
• The lone bread maker: Europe’s half-baked single market in services — Financial Times -
• How Milan’s listening bar scene found its groove — Financial Times -
• Millions of Defective Air Bags Have Been Recalled—but They’re Still Not Fixed — Wall Street Journal -
• Beauty Has Never Been More Cutthroat. Here’s How Sephora Plans to Stay on Top. — Wall Street Journal -