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Even Paramount now thinks Netflix is winning the bidding war for Warner Bros. Discovery

Paramount accuses Warner Bros. Discovery (WBD) of conducting an unfair bidding process favoring Netflix in the sale of its studios and HBO Max streaming business. Paramount, initially a front-runner, now feels its position is weakening. WBD is reportedly in exclusive talks with Netflix. The bidding war involves Netflix, Paramount, and Comcast, with Netflix's all-cash offer perceived as strong. Paramount aims to bolster its streaming service, while Netflix seeks to expand its studio and streaming assets. Regulatory approval is required for any transaction.

Dow Jones·
US
PARA
0.00%
US
NFLX
-0.71%
US
WBD
-0.12%
Dow Jones·
US
PARA
0.00%
US
NFLX
-0.71%
US
WBD
-0.12%

Musk’s bold AI plan to wipe out US debt and rethink work

Elon Musk proposes a bold AI-driven strategy to address the US national debt, which has surpassed $38 trillion, with interest payments exceeding the military budget. Despite decades of policy attempts, the debt continues to rise, prompting Musk's intervention.

MSN·
US
TSLA
+1.74%
MSN·
US
TSLA
+1.74%

North American Morning Briefing: Stock Futures Edge Up as Investors Await PCE Data

Stock futures rose as investors await PCE data, the Fed's inflation measure. September PCE data, delayed by a government shutdown, is expected to show slight inflation acceleration. Fed's December meeting may hinge on this data. Stocks like Apple, Argan, DocuSign, and Meta Platforms showed varied movements. Oil prices rose amid geopolitical tensions, while gold prices increased due to a weaker dollar.

MorningStar·
US
META
+3.43%
US
AGX
+1.51%
US
DOCU
+0.68%
MorningStar·
US
META
+3.43%
US
AGX
+1.51%
US
DOCU
+0.68%

Facebook and Instagram have a new hub to help get hijacked accounts back

Meta has launched a centralized support hub for Facebook and Instagram to simplify account recovery and support. The hub aims to improve user experience by centralizing support options for reporting issues and recovering accounts. An AI assistant is being developed for personalized help, initially for Facebook users. The update is rolling out globally on iOS and Android, enhancing the account recovery process using AI.

The Verge·
US
META
+3.43%
The Verge·
US
META
+3.43%

Deals of the day-Mergers and acquisitions

British American Tobacco sold over half its stake in ITC Hotels for 38 billion rupees. Netflix is in talks to buy Warner Bros Discovery’s studios and streaming assets for $28 per share. Paribu acquired a majority stake in CoinMENA, valuing it at up to $240 million.

Reuters·
US
BTI
+0.92%
US
NFLX
-0.71%
US
WBD
-0.12%
Reuters·
US
BTI
+0.92%
US
NFLX
-0.71%
US
WBD
-0.12%
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