Netflix to acquire Warner Bros. studio and streaming business for $72 billion
NEW YORK (AP) — Netflix has struck a deal with Warner Bros. Discovery to buy the legacy Hollywood giant’s studio and streaming business for $72 billion. The merger announced Friday would bring two of the industry’s biggest players in film and TV under one roof. Beyond its namesake television and motion picture division, Warner owns HBO Max and DC Studios. And Netflix has rose to dominance as a household name ubiquitous to on-demand content, while building of its own production arm to release popular titles like “Stranger Things” and “Squid Game.” The cash and stock deal has a total enterprise value of $82.7 billion.
Fed's preferred inflation gauge stayed elevated in September as spending weakened
WASHINGTON (AP) — The Federal Reserve’s preferred measure of inflation slowed a bit in September, likely easing the way to a widely expected interest rate cut by the central bank next week. The data, which was delayed for five weeks by the government shutdown, show that inflation was muted in September and will bolster the case for a cut to the Fed’s key interest rate at its next meeting Dec. 9-10.
Russia restricts FaceTime, its latest step in controlling online communications
Russian authorities say they have imposed restrictions on Apple's video calling service FaceTime, alleging it was being used for organizing what it called “terrorist activities.” Thursday's announcement marks another step in Russia's ongoing effort to control internet and online communications. In recent years, Russia has adopted restrictive laws and blocked noncompliant websites and platforms. After the 2022 invasion of Ukraine, the government blocked major social media platforms like Twitter, Facebook, and Instagram. Access to YouTube also was disrupted. Authorities have further restricted internet access with widespread shutdowns of cellphone connections. Critics say these measures are aimed at tightening internet control.
Wall Street flirts with its all-time high
NEW YORK (AP) — The U.S. stock market is flirting with its all-time high. The S&P 500 rose 0.3% Friday. It was on track earlier in the day to squeak past its record closing level, which was set in October. The Dow Jones Industrial Average added 164 points, and the Nasdaq composite rose 0.4%. Ulta Beauty helped lead the market after delivering a better profit than analysts expected, while also offering encouraging signals about the holiday shopping season. Warner Bros. Discovery rose after Netflix said it would buy Warner Bros. for $72 billion in cash and stock. Treasury yields held relatively steady in the bond market.
Cloudflare says service restored after outage that brought down sites including Zoom and LinkedIn
MADRID (AP) — Cloudflare reports that it has resolved an outage that disrupted several global websites, including LinkedIn and Zoom. This marks the second such incident for the company in less than three weeks. On Friday, Cloudflare said the issue stemmed from a change in how its firewall handles requests, not an attack. Edinburgh airport experienced a brief shutdown but later said it was unrelated to Cloudflare. Last month, Microsoft and Amazon also faced outages affecting their cloud services. Cyber security experts warn that such outages are growing more common as organizations rely on a few companies for security and web solutions.
Another line of attack: White House sets up a hall of shame for news outlets
NEW YORK (AP) — President Donald Trump's White House has established a hall of shame for journalists it finds guilty of media bias as it looks for new avenues of attack against legacy news outlets. And it's calling on “everyday Americans” to participate with their own examples of where they consider journalists to be unfair. The Republican president has been criticizing “fake news” since his first term. Some of Trump's attacks have turned personal in the past month. Yet despite it all, the news outlet Axios pointed out this week that mainstream news sources are as dominant as ever in setting the agenda for Washington and — somewhat ironically — capturing the president's attention.
French first lady Brigitte Macron visits an old friend in China: A giant panda called Yuan Meng
CHENGDU, China (AP) — French first lady Brigitte Macron has reunited with a giant panda born in France during a visit to China with President Emmanuel Macron. Yuan Meng was born in a French zoo in 2017 and now lives at a panda reserve in southwest China. Brigitte Macron helped choose his name which means "accomplishment of a dream." China uses "panda diplomacy" to strengthen international relations by gifting or loaning pandas to other countries. The China Wildlife Conservation Association plans to send two pandas to France in 2027. Emmanuel Macron's visit to China included discussions with Chinese leader Xi Jinping on various global issues. The first lady caught up with Yuan Meng on Friday.
Pope cancels Holy See fundraising commission announced under questionable circumstances
ROME (AP) — Pope Leo XIV has taken his biggest step yet to correct one of Pope Francis’ more problematic financial moves. He has canceled a special Holy See fundraising commission that was announced under questionable circumstances while Francis was hospitalized. Leo abrogated the commission statutes and fired its members in a decree on Thursday. It was the latest sign that history’s first American pope is wrapping up the loose ends of Francis’ pontificate as 2025 comes to an end. Leo is correcting problems as needed and fulfilling Francis’ Holy Year obligations as he looks ahead to the new year when he can focus more on his own agenda.
In Colorado town built on coal, some families are moving on, even as Trump tries to boost industry
CRAIG, Colo. (AP) — The Cooper family has worked in the coal industry in Colorado for generations. That's ending as one of three coal mines in their area closes in a statewide shift to cleaner energy. Many countries and about half of U.S. states are moving away from coal, citing the environmental impact and high costs of producing electricity that way as plants age. President Donald Trump is trying to reverse the trend of coal plants closing. That leaves coal communities caught in the middle. Some families are like the Coopers, planning for the next stage of their careers while still mourning the end of their industry. Others hold out hope that Trump will somehow still save their plants.
US Steel to resume steel production at Illinois plant shut 3 years ago
HARRISBURG, Pa. (AP) — U.S. Steel says it'll resume making steel slabs at its Granite City Works plant in Illinois amid strengthening demand. The company made the announcement Thursday. It shut down the last blast furnace there in 2023. However, U.S. Steel says it can profitably operate the blast furnace to meet 2026 demand. The American Iron and Steel Institute reports that shipments from domestic steel mills are up this year. The move by Pittsburgh-based U.S. Steel comes months after Japan-based Nippon Steel sealed a deal with President Donald Trump to buy the American steelmaker for $14.9 billion. Granite City Works makes rolls of sheet steel for the construction, container, pipe and automotive industries.
