The Warner Bros. Discovery takeover saga saw Paramount's hostile bid rejected, while Oscars broadcasting rights move to YouTube and Netflix adds podcasts in new deals. Amazon's potential investment in OpenAI highlights tech sector M&A, alongside activist Irenic pushing for a sale at Integer and KKR's Viridor stake sale.

• Activist Irenic Pushing Medical-Device Maker Integer to Pursue Sale — Wall Street Journal -
• Oscars Reach Deal With YouTube — The New York Times Business -
• Who matters in the battle for Warner Bros? — Financial Times -

• Oscars Will Move to YouTube Starting in 2029 — Wall Street Journal -
• Elon Musk makes an unhelpful cameo in Warner Bros buyout — Financial Times -
• Inside the Paramount-Netflix brawl for WBD: 10 takeaways from new filing — Financial Times -
• Warner Bros board urges investors to reject Paramount’s ‘inferior’ $108bn bid — Financial Times -
• Netflix Adds Podcasts in Deals With iHeartMedia, Barstool Sports — The New York Times Business -
• Warner Bros. Urges Shareholders to Reject Paramount Takeover Bid, Saying Ellisons ‘Misled’ Them — The New York Times Business -
• Warner Rejected Paramount’s Tender Offer. What to Know. — Wall Street Journal -
• Warner Rejects Paramount’s Hostile Bid, Saying Netflix Deal Still Superior — Wall Street Journal -
• KKR nears Viridor stake sale to Equitix — Financial Times -
• A New Stage in the Fight for Warner Bros. Discovery — The New York Times Business -
• FirstFT: Warner Bros set to spurn $108bn Paramount hostile offer — Financial Times -
• Diageo to Sell Kenyan Drinks Stakes to Japan’s Asahi for $2.3 Billion — Wall Street Journal -
• Amazon in talks to invest more than $10bn in OpenAI — Financial Times -
• Jared Kushner’s Affinity Partners Pulls Out of Bid for Warner Bros. Discovery — The New York Times Business -
• Blackstone Leads $400 Million Investment in Cyber Startup Cyera — Wall Street Journal -

Slowing UK inflation is fueling expectations for rate cuts by the Bank of England, and Fed Governor Waller suggests significant US rate reductions, as JPMorgan strategically pulls funds from the Fed to buy Treasuries, and India signals low rates for an extended period.

• UK inflation falls more than expected to 3.2% in November — Financial Times -
• Investment banks expect UK borrowing costs to fall further in 2026 — Financial Times -
• Slowing inflation fuels concerns about a cooling UK economy — Financial Times -

• Fed governor Waller says rates could be cut by as much as a full point — Financial Times -
• Next Fed Chair in ‘No-Win Scenario’ as Selection Process Draws to a Close — The New York Times Business -
• Slowing UK inflation in November clears last hurdle for December cut — Financial Times -
• The economy is fine and everyone hates it — Financial Times -
• The worried investor’s guide to 2026 — Financial Times -
• Why more dissent is now vital at the Fed — Financial Times -
• JPMorgan pulls $350bn from Fed to buy up Treasuries — Financial Times -
• JPMorgan swaps cash for Treasuries — Financial Times -
• India’s central bank governor signals rates to stay low for ‘long period’ — Financial Times -

**Israel approves a $37 billion gas deal to Egypt, US crude oil stockpiles fall for a second week, and oil prices climb due to Trump's blockade of Venezuelan oil tankers, while California regulators keep a solar plant open and winter heating costs are projected to rise**.

• Israel Approves $37 Billion Deal to Deliver Gas to Egypt — The New York Times Business -
• Opinion | California’s Stranded Solar Assets — Wall Street Journal -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• America’s Largest Landowner Bets It Can Replace Met Coal With Pine Trees — Wall Street Journal -
• U.S. Crude Oil Stockpiles Fall for Second Straight Week — Wall Street Journal -
• TransAlta Gets Energy Department Order to Keep Washington Coal-Fired Plant in Operation for 90 Days — Wall Street Journal -
• EU admits carbon border tax ‘too clunky’ as it closes loopholes — Financial Times -
• Heating Costs Expected to Rise 9.2% This Winter — The New York Times Business -
• Oil Prices Climb as Trump’s Venezuela Blockade Raises Supply Risks — Wall Street Journal -
• The Shell-BP deal that wasn’t — Financial Times -
• Trump Orders Blockade of Sanctioned Oil Tankers In and Out of Venezuela — Wall Street Journal -
• Oil Rises on Likely Technical Recovery — Wall Street Journal -
• Trump orders blockade on sanctioned oil tankers off Venezuela — Financial Times -
• U.S. Tanker Seizure Has Paralyzed Venezuelan Oil Shipping—Except Chevron’s — Wall Street Journal -

Micron logs a sales jump driven by AI demand, Amazon overhauls its AI team, and **Oracle's $10bn Michigan data center funding stalls, alongside Waymo's potential $100bn valuation and US threats against European tech firms** over regulation.

• Micron Logs Sales Jump, Sees Further Growth as AI Demand Outpaces Supply — Wall Street Journal -
• Amazon overhauls AI team as chief declares an ‘inflection point’ — Financial Times -
• Tech, Media & Telecom Roundup: Market Talk — Wall Street Journal -

• Oracle’s $10bn Michigan data centre in limbo after Blue Owl funding talks stall — Financial Times -
• CEO of Roomba maker iRobot says previous management was ‘in denial’ — Financial Times -
• UK to shift more research funding into AI and video games — Financial Times -
• Podcasters Love YouTube. That’s Making Podcast Advertising Less Predictable. — Wall Street Journal -
• The Squishy Number Behind the Rise and Fall of Oracle’s Stock — Wall Street Journal -
• Does China Have a Robot Bubble? — The New York Times Business -
• The hypocrisy of US complaints over X’s EU fine — Financial Times -
• Waymo in talks to raise funds at $100bn valuation — Financial Times -
• U.S. Threatens Penalties Against European Tech Firms Amid Regulatory Fight — The New York Times Business -

The FCC chair's statement on agency independence causes a stir, UK surveillance on the housing industry is criticized, and wealthy English areas gain new council tax powers, while Trump dangles cash payments to address affordability and Starmer plans to transfer Chelsea FC sale proceeds to Ukraine.

• FCC Isn’t an Independent Agency, Chair Brendan Carr Says — Wall Street Journal -
• UK carried out unauthorised surveillance on housing industry, says watchdog — Financial Times -
• Wealthy areas in England get new powers to raise council tax in funding shake up — Financial Times -

• Varun Chandra out of running for UK ambassador to Washington — Financial Times -
• UK should relax salary requirements for skilled worker visas, advisers say — Financial Times -
• Trump Dangles Cash Payments to Assuage Affordability Concerns — The New York Times Business -
• UK plans to remove curbs on litigation funders to broaden access to justice — Financial Times -
• Leftwinger wins race to lead Britain’s largest trade union — Financial Times -
• How Home Depot became the front line of Trump’s immigration raids — Financial Times -
• What Trump’s Embrace of Crypto Has Unleashed — The New York Times Business -
• Britain to pay £570mn to rejoin EU’s Erasmus student exchange programme — Financial Times -
• Interest rates explain UK’s high turnover of prime ministers — Financial Times -
• Defence spending plan delayed over Starmer concerns — Financial Times -
• UK to speed up review of EV sales targets after car industry pressure — Financial Times -
• ‘He would turn us against him’: Trump’s tariff reductions alienate ranchers — Financial Times -
• Vance touts Trump’s economy to shift message on cost of living — Financial Times -
• UK backs £150mn package for Ineos’s Grangemouth chemical plant — Financial Times -
• UK driving tests agency will not hit key waiting time target until 2027 — Financial Times -

**Andersen, a descendant of Enron's auditor, surges 47% in its market debut, marking a strong performance in its IPO, following Medline's $6.3bn IPO** as the biggest of 2025.

• Andersen, Descendant of Enron’s Auditor, Surges 47% in Market Debut — Wall Street Journal -
• Andersen Group shares soar 47% in IPO by alumni of Enron auditor — Financial Times -
• Medline shares leap 41% after raising $6.3bn in biggest IPO of 2025 — Financial Times -

Delta's president is set to retire, executives at subprime auto lender Tricolor are charged with fraud, and air-safety worker bonuses are backfiring, while Chinese cars are racing ahead on British roads and Tesla faces a deadline for Autopilot advertising changes.

• Auto & Transport Roundup: Market Talk — Wall Street Journal -
• Delta’s President to Retire After 20 Years — Wall Street Journal -
• Executives at Subprime Auto Lender Are Charged With Fraud — The New York Times Business -

• Why $10,000 Bonuses for Air-Safety Workers Are Backfiring — Wall Street Journal -
• US prosecutors call subprime lender Tricolor a ‘financial crimes enterprise’ — Financial Times -
• On British Roads, Chinese Cars Are Racing Ahead — The New York Times Business -
• California Gives Tesla 90 Days to Change Autopilot Advertising — Wall Street Journal -

Brazil threatens to walk away from the EU-Mercosur trade deal, US Congress repeals Syria sanctions, and **Germany approves €50bn in military purchases, as Putin predicts European leaders backing Ukraine will lose power and Japan bids farewell to pandas** amid deepening China relations.

• Lula threatens to walk away from EU-Mercosur trade deal — Financial Times -
• Jimmy Lai’s conviction is ominous for Hong Kong — Financial Times -
• US Congress repeals Syria ‘Caesar’ sanctions — Financial Times -

• US defence act passes in rebuke to Trump administration’s stance on Europe — Financial Times -
• Putin predicts European ‘swine’ backing Ukraine will lose power — Financial Times -
• Germany approves €50bn in military purchases — Financial Times -
• Starmer moves to transfer £2.5bn from Abramovich’s Chelsea FC sale to Ukraine — Financial Times -
• The AfD’s love-in with Maga — Financial Times -
• When business and democracy don’t mix — Financial Times -
• Franco-German Defense Group KNDS to Go Public in Dual Listing — Wall Street Journal -
• South Africa arrests Kenyans working at US-run Afrikaner ‘refugee’ centre — Financial Times -
• Former EU lawmakers lose case against pension cuts — Financial Times -
• Japan bids farewell to pandas as row with China deepens — Financial Times -
• Leaders brace for ‘three-shirt’ summit to push through Ukraine loan — Financial Times -
• Giorgia Meloni’s European moment comes with a price — Financial Times -
• The American company seeking to counter China in Africa — Financial Times -
• Polish broadcaster plans Maga-backed international TV channel — Financial Times -
• Investors pile into Venezuelan debt in regime change bet — Financial Times -

General Mills cuts prices to attract consumers, steelmakers Nucor and Steel Dynamics warn of profit shortfalls, and Lennar's profit falls amid a stagnant housing market, while London property prices decline and Treasury Wine Estates cuts shipments due to lower demand.

• General Mills Is Cutting Prices on Food, and It’s Paying Off — Wall Street Journal -
• Scientists shed new light on Alzheimer’s warning signs — Financial Times -
• Nucor, Steel Dynamics Warn of Profit Shortfalls — Wall Street Journal -

• Submit your questions: How can UK business return to growth? — Financial Times -
• London property prices fall at fastest pace in nearly 2 years — Financial Times -
• Bunzl Shares Fall on Lower Operating Margin Outlook — Wall Street Journal -
• Treasury Wine to Cut Shipments, Costs on Lower China, U.S. Demand — Wall Street Journal -
• Lennar Fourth-Quarter Profit Falls as Housing Market Remains Stagnant — Wall Street Journal -

The business world mourns the passing of Robert J. Samuelson, an award-winning economics columnist, and John E. Olson, an early skeptic of Enron.

• Robert J. Samuelson, Award-Winning Economics Columnist, Dies at 79 — The New York Times Business -
• John E. Olson, Analyst Who Was an Early Skeptic of Enron, Dies at 83 — Wall Street Journal -