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 ...

Group 1: Tesla's New Model Launch - Tesla has launched a lower-priced version of its Model 3 sedan in Europe to revive sales amid weakening demand for electric vehicles and backlash against CEO Elon Musk's political affiliations [1][2] - The new Model 3 Standard is priced at €37,970 in Germany, €330,056 in Norway, and €449,990 in Sweden, following the introduction of a lower-priced Model Y SUV [2] Group 2: Sales Performance and Competition - Tesla's sales have declined in Europe due to increased competition from Chinese rival BYD, which outsold Tesla in the region for the first time in spring [2] - Sales across the EU have also been negatively impacted by consumer backlash against Musk's support for Donald Trump's election campaign and his controversial political actions [3][4] Group 3: Market Challenges in the UK - New taxes on electric vehicles introduced in the UK budget could further undermine demand, with electric car sales growing at their slowest rate in two years, at just 3.6% in November [5] - The Society of Motor Manufacturers and Traders (SMMT) has expressed concerns that the new pay-per-mile road tax on EVs, set to take effect in April 2028, could discourage drivers from switching to electric vehicles [6]

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 ...

Core Viewpoint - Tesla has warned the UK government that weakening electric vehicle (EV) regulations could negatively impact battery car sales and hinder the country's ability to meet carbon dioxide targets [1][4]. Group 1: Government Regulations and Industry Impact - The Labour government has weakened the zero-emission vehicle (ZEV) mandate, which previously required increased sales of EVs, allowing carmakers to sell more petrol and diesel vehicles [2]. - Critics argue that new taxes on electric cars could further reduce demand, complicating the transition to electric vehicles [2]. - Tesla emphasized that introducing new loopholes, referred to as "flexibilities," would suppress battery electric vehicle (BEV) supply and significantly impact emissions, risking the UK's carbon budgets [4]. Group 2: Industry Reactions and Concerns - Carmakers like BMW, Jaguar Land Rover, Nissan, and Toyota have expressed concerns that the weakened mandate is damaging investment, as they are selling electric cars at a loss [3]. - Ford and Mercedes-Benz have lobbied against stricter rules post-2030, which would require further reductions in average carbon dioxide emissions, allowing them to sell more polluting vehicles for a longer period [7]. - Ford criticized European governments for retracting support for electric car sales, highlighting the competitive threat from Chinese manufacturers with lower cost bases [9]. Group 3: Financial Measures and Future Proposals - The UK Chancellor announced a "pay-per-mile" charge on electric cars starting in 2028, which may diminish their appeal compared to petrol and diesel models, while also extending grants for new electric cars [5]. - Mercedes-Benz proposed reducing VAT on public charging from 20% to 5% to align with home electricity rates and suggested a price cap on public charging [10]. - Tesla called for a ban on sales of plug-in hybrid electric vehicles with a battery-only range of less than 100 miles after 2030, which would eliminate many popular models in that category [10].

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].

Apple’s head of artificial intelligence, John Giannandrea, is stepping down from the company. The move comes as the Silicon Valley giant has lagged behind its competitors in rolling out generative AI features, in particular its voice assistant Siri. Apple made the announcement on Monday, thanking Giannandrea for his seven-year tenure at the company.Tim Cook, Apple’s CEO, said his fellow executive helped the company “in building and advancing our AI work” and allowing Apple to “continue to innovate”. Giannan ...

Core Points - The UK government has secured a deal with the Trump administration to maintain zero tariffs on UK pharmaceutical imports into the US and increase NHS spending on drugs [1][2] - The agreement aims to ensure continued investment by UK pharmaceutical companies in the US and is expected to create jobs in the US [1] - The NHS will increase the net price it pays for new medicines by 25%, addressing concerns about the competitiveness of the current drugs-purchasing agreement [3][6] Trade and Pricing Arrangements - Trade in medicines has been largely duty-free under a 1994 WTO agreement, but tariffs were imposed by the Trump administration affecting imports from the UK and EU [4] - The new deal includes a reduction in the "rebate" payments that drug companies make to the NHS, which currently range from 23.5% to 35.6% of revenue from branded medicines [5][6] - The average rebate rates in other European countries are significantly lower, indicating potential for reform in the UK's arrangements [6] Negotiation and Strategic Context - Negotiations were led by key figures including Varun Chandra and Patrick Vallance, highlighting the importance of government involvement in pharmaceutical policy [7] - The Trump administration is also pushing for US drug companies to lower their prices to align more closely with those in the UK and other developed countries [7] - There are ongoing threats of high tariffs on pharmaceutical imports to encourage domestic manufacturing in the US, particularly in competition with countries like India and China [8]