A divided Federal Reserve meets this week to decide whether to cut interest rates, the US central bank’s last meeting before the end of a tumultuous year.The US central bank faces a number of unique challenges as it weighs its latest interest-rate decision.After the six-week government shutdown briefly shuttered the Bureau of Labor Statistics, the federal agency that collects economic data on prices and employment, Fed officials have less data to make their decision.Making matters more complicated is what a ...

It’s less than five years since David Zaslav, CEO of Warner Bros Discovery, negotiated what looked like the deal of his career. Now as Netflix plans a landscape-changing takeover of Warner Bros, he’s in the middle of an even bigger one.Zaslav, or Zaz, is a hard-charging, well-connected executive who cut his teeth inside NBC, and ascended into New York’s media elite as he transformed Discovery Inc from a nature- and science-focused cable broadcaster into a reality TV giant.But he elevated himself to moguldom ...

Core Viewpoint - The acquisition of Warner Bros by Netflix for $83 billion has sparked significant backlash from various stakeholders in the entertainment industry, raising concerns about monopolistic practices and potential negative impacts on consumers and workers [1][2]. Group 1: Concerns from Politicians and Industry Groups - Senator Elizabeth Warren described the merger as "an anti-monopoly nightmare," warning that it could lead to higher subscription prices and fewer choices for consumers [1][2]. - The merger would create a media giant controlling nearly half of the streaming market, which could threaten American workers and lead to price hikes, ads, and less creative content [2][3]. - The Directors Guild of America expressed "significant concerns" and plans to meet with Netflix regarding the deal [4]. - The Writers Guild of America called for the merger to be stopped, citing potential job losses and reduced content diversity [5]. Group 2: Industry Reactions - James Cameron criticized the acquisition, labeling it a "disaster" during a podcast discussion [6]. - The merger follows interest from other companies like Paramount and Comcast, indicating a competitive landscape in the media industry [6]. - Netflix aims to maintain Warner Bros' current operations and enhance its strengths, including theatrical releases, suggesting a commitment to existing business models [7].

Netflix has agreed to buy Warner Bros Discovery in an $82.7bn (£62bn) deal that will dramatically reshape the established Hollywood film and TV industry.The streaming company will take control of prize assets including Warner Bros, the studio behind franchises including Harry Potter, Superman and Batman, as well as HBO, home to shows including Game of Thrones, The White Lotus and Succession.Netflix will also get hold of an extensive TV archive that includes classics such as Friends, which is scheduled to be ...

Tesla has launched the lower-priced version of its Model 3 sedan in Europe in a push to revive sales after a backlash against Elon Musk’s work with Donald Trump and weakening demand for electric vehicles.Musk, the electric car maker’s chief executive, has argued that the cheaper option, launched in the US in October, will reinvigorate demand by appealing to a wider range of buyers.The new Model 3 Standard is listed at €37,970 in Germany, €330,056 Norwegian kroner and €449,990 Swedish kronor. The move follow ...

Irish authorities have been formally asked to investigate Microsoft over alleged unlawful data processing by the Israeli Defense Forces.The complaint has been made by the human rights group the Irish Council for Civil Liberties (ICCL) to the Data Protection Commission, which has legal responsibility in Europe for overseeing all data processing in the European Union.It follows revelations in August by the Guardian with the Israeli-Palestinian publication +972 Magazine and the Hebrew outlet Local Call that a ...

US private payrolls unexpectedly declined in November, the ADP employment report showed on Wednesday.Private employment decreased by 32,000 jobs last month after an upwardly revised 47,000 increase in October. Economists polled by Reuters had forecast private employment rising by 10,000 jobs after a previously reported 42,000 rebound in October.The ADP report is jointly developed with the Stanford Digital Economy Lab. The monthly estimate has historically diverted from the government’s private payrolls coun ...

Tesla privately warned the UK government that weakening electric vehicle rules would hit battery car sales and risk the country missing its carbon dioxide targets, according to newly revealed documents.The US electric carmaker, run by Elon Musk, also called for “support for the used-car market”, according to submissions to a government consultation earlier this year obtained by the Fast Charge, a newsletter covering electric cars.The Labour government in April worried some electric carmakers by weakening ru ...

Shares in Eric Trump’s crypto mining business lost more than half their value in less than 30 minutes on Tuesday.The nosedive of American Bitcoin Corp, which triggered repeated trading halts, followed the steep decline of many cryptocurrencies and crypto-linked companies into what some observers are calling the onset of a “crypto winter”. Bitcoin’s value has fallen sharply since the start of October and erased a year of large gains.Shares in American Bitcoin, which trades as ABTC, dropped to $1.90 after clo ...

Core Viewpoint - The debate over the European Commission's 2035 ban on new petrol and diesel cars is intensifying, with Swedish companies Volvo and Polestar advocating for the ban to remain in place, arguing that any delay would hinder electric vehicle adoption and benefit Chinese manufacturers [1][2][10]. Group 1: Industry Perspectives - Polestar's CEO, Michael Lohscheller, strongly opposes pausing the 2035 ban, emphasizing that Europe must lead in the transition to electric vehicles or risk falling behind [2][12]. - Lohscheller highlights the urgency of the situation, stating that delaying the target could jeopardize hundreds of thousands of jobs in the automotive sector [10]. - Volvo's CEO, Håkan Samuelsson, argues that rolling back the ban lacks logic and compares the current resistance to past opposition against safety measures like catalytic converters and seatbelts [4][5][8]. Group 2: Competitive Landscape - Samuelsson warns that if traditional car manufacturers like Volkswagen and BMW slow down their electrification efforts, they will create a competitive advantage for Chinese companies, which are expanding their manufacturing presence in Europe [8][10]. - Both CEOs stress the importance of maintaining momentum in electrification to ensure that European manufacturers remain competitive against Chinese firms [8][17]. Group 3: Consumer Concerns - Samuelsson identifies three main consumer concerns regarding electric vehicles: range, charging time, and price, asserting that addressing these issues will accelerate EV adoption [18][19]. - He believes that the industry should focus on technological advancements rather than delaying regulatory timelines, as innovation is crucial for meeting consumer expectations and environmental goals [20].