Larry Ellison's personal guarantee to back Paramount's bid for Warner Bros. Discovery leads significant M&A activity, with Netflix also preparing substantial financing for its own counter-bid and Alphabet acquiring Intersect Power for AI expansion, while dealmakers express optimism for 2026 despite questions on private equity firm structures.

• Larry Ellison Personally Guarantees Paramount Bid for Warner Bros. — The New York Times Business -
• Larry Ellison Provides Personal Guarantee for Paramount’s Bid for Warner — Wall Street Journal -
• FirstFT: Japan official warns of ‘deep concern’ over the yen’s weakness — Financial Times -

• Alphabet agrees to buy Intersect Power for $4.75bn — Financial Times -
• Alphabet to Buy Intersect for $4.75 Billion as AI-Investment Plans Grow — Wall Street Journal -
• Cintas Isn’t Taking Years of No for an Answer, Makes Fresh Bid for UniFirst — Wall Street Journal -
• Nelson Peltz’s Trian and General Catalyst to Take Janus Henderson Private — Wall Street Journal -
• Peltz’s Trian and General Catalyst lead $7.4bn takeover of Janus Henderson — Financial Times -
• Larry Ellison gives $40bn personal backing to Warner Bros Discovery bid — Financial Times -
• Unloved Energy Bet Is Set to Become Most Profitable Private-Equity Deal Ever — Wall Street Journal -
• Netflix Prepares $25 Billion in Bank Financing for Warner Deal — Wall Street Journal -
• Riding a High, Deal Makers Grow Bullish on 2026 — The New York Times Business -
• Will the Warner Deal Finally Spell the End of the Movie Theater? — Wall Street Journal -
• North Sea operator Harbour buys Gulf of Mexico oil group for $3.2bn — Financial Times -
• Harbour Energy Pushes Into U.S. With $3.2 Billion Deal for LLOG Exploration — Wall Street Journal -
• What David Ellison can learn from a hostile bid battle of his father — Financial Times -
• How one PE group’s deals show the risks of firms selling to themselves — Financial Times -
• Permira-, Warburg-Led Consortium to Acquire Clearwater Analytics in $8.4B Deal — Wall Street Journal -

The Trump Administration's halt of all offshore wind projects citing national security concerns presents a major setback for renewable energy, while China's green tech dominance positions it as a leader in clean fuel production, and an opinion piece considers the Ivanpah solar plant's future.

• Trump Administration Halts All Offshore Wind Projects — Wall Street Journal -
• US halts offshore wind projects, citing national security concerns — Financial Times -
• Energy & Utilities Roundup: Market Talk — Wall Street Journal -

• Opinion | Ivanpah Deserves Another Look, Mr. President — Wall Street Journal -
• China uses green tech dominance to take early lead in clean fuels race — Financial Times -

While the economy survived 2025 without a recession, many Americans are reeling from rising unemployment and affordability, contributing to a K-shaped economic recovery, as Japan expresses deep concern over the yen's weakness and Apollo prepares for potential market turmoil amidst varied 2025 market performance reviews.

• FirstFT: Japan official warns of ‘deep concern’ over the yen’s weakness — Financial Times -
• The stock market winners and losers of 2025 — Financial Times -
• The Economy Survived 2025, But Many Americans Are Reeling — The New York Times Business -

• FirstFT: 2025’s stock market winners and losers — Financial Times -
• Japan official warns on yen’s ‘sudden’ weakness — Financial Times -
• The year in review (part one) — Financial Times -
• The asset management year in review — Financial Times -
• Hawkish Fed overtones not expected to last long into 2026 — Financial Times -
• Apollo cuts risk and stockpiles cash in preparation for market turmoil — Financial Times -
• Happy K-shaped Christmas — Financial Times -

UK exporters are increasingly dissatisfied with EU trade terms, as China imposes high levies on EU dairy imports, intensifying global trade tensions, while the U.S. defense industry dodged a rare-earth shortage from China's curbs and Canada appointed a new U.S. ambassador to reset relations in a world of middle power uncertainty.

• UK exporters increasingly dissatisfied with EU trade terms, survey finds — Financial Times -
• Canada names Mark Wiseman as US ambassador — Financial Times -
• The year of the tariff — Financial Times -

• How U.S. Defense Industry Dodged a Rare-Earth Shortage After China’s Curbs — The New York Times Business -
• Middle powers face a new age of uncertainty — Financial Times -
• The EU’s old protectionist instinct outweighs its new geopolitical ambition — Financial Times -
• China hits EU dairy industry with levies of up to 42.7% — Financial Times -
• Trump’s new special envoy says Greenland should be part of US — Financial Times -
• UK cannot ignore deep-sea threat from Russia, head of Navy warns — Financial Times -
• How upbeat battlefield briefings are fuelling Putin’s confidence — Financial Times -
• UAE’s Jewish community lies low in wake of Gaza war — Financial Times -
• Is Switzerland losing its place in the world? — Financial Times -

Epstein victims are seeking full disclosure of Justice Department files, Elon Musk was vindicated regarding his Tesla pay, and Uber faces accusations of sexual assault due to lax driver background checks, alongside CBS News controversially pulling a '60 Minutes' segment and the UK banning the boiling of live lobsters.

• Epstein Victims Ask Congress to Ensure Justice Dept. Releases All Files — The New York Times Business -
• Opinion | Elon Musk Is Vindicated in Delaware — Wall Street Journal -
• Did Charlie Javice’s 147-Member Legal Team Expense $529 in Gummy Bears? — The New York Times Business -

• CBS News Editor Bari Weiss Defends Decision to Pull ‘60 Minutes’ Segment — Wall Street Journal -
• UK to ban boiling lobsters alive as animal welfare standards tightened — Financial Times -
• Uber Clears Violent Felons to Drive — The New York Times Business -
• Uber Cleared Violent Felons to Drive. Passengers Accused Them of Rape. — The New York Times Business -
• Help Us Report on Sexual Assault During Uber and Lyft Rides — The New York Times Business -
• CBS News Pulls ‘60 Minutes’ Segment; Correspondent Calls Decision Political — Wall Street Journal -
• ’60 Minutes’ Pulls Segment on Venezuelans Deported by Trump Administration, Drawing Criticism — The New York Times Business -
• ‘He Was Poisoned.’ Toxic Fumes on Planes Blamed for Deaths of Pilots and Crew — Wall Street Journal -

Teenagers are launching AI companies and mortgage lenders are insuring against AI screening errors, signaling rapid tech integration, while Uber, Lyft, and Baidu partner for robotaxi trials and major companies like Coty and Lululemon undergo strategic changes, with China's Vanke securing a debt default lifeline.

• Amtrak Faces More Delays Rolling Out New Trains — Wall Street Journal -
• China Vanke Gets Temporary Lifeline to Prevent Debt Default — The New York Times Business -
• Coty Names P&G Veteran as Interim CEO Amid Beauty Shake-Up — Wall Street Journal -

• Ralph Lauren Was Always Cool. Now Gen Z Knows Why. — Wall Street Journal -
• Instacart Scraps All Price Tests After Customer Pushback — Wall Street Journal -
• What Does Lululemon Need: Discipline or Inspiration? — Wall Street Journal -
• Uber, Lyft Tie Up With Baidu for U.K. Robotaxi Tests Next Year — Wall Street Journal -
• Ministers set to lay out details for ‘Northern Powerhouse’ rail scheme in new year — Financial Times -
• US mortgage lenders insure against artificial intelligence screening errors — Financial Times -
• How ‘Made in Britain’ became cool again for heritage clothing brands — Financial Times -
• One of Elon Musk’s Old Enemies Joins the Race to Run GM — Wall Street Journal -
• These Teenagers Are Already Running Their Own AI Companies — Wall Street Journal -

The Agriculture Department saw a significant reduction in staff under the Trump administration, while Argentina's 'chainsaw' minister is pushing major reforms, and new books reflect on Westminster politics' complexities.

• Agriculture Department Sheds a Fifth of Its Workers — The New York Times Business -
• The seamy side of Westminster, then and now — the best new books on politics — Financial Times -
• Milei’s ‘chainsaw’ minister pushes major reforms for 2026 — Financial Times -