Netflix Inc.’s audacious $72 billion bid for Warner Bros. Discovery has stirred up fresh takeover drama, with a competing offer emerging from Paramount–Skydance, backed by Apollo Global Management, Jared Kushner and a group of Gulf sovereign wealth funds, according to people familiar with the matter. The counterproposal adds a new twist to what could become one of the largest entertainment deals in decades, intensifying a race for scale in a streaming landscape under mounting pressure.
In Washington, President Donald Trump has authorized Nvidia Corp. to resume sales of its H200 AI chips to China, provided the company imposes a 25% surcharge on shipments. The move marks the first major recalibration of US tech-export restrictions under the new administration. The key question for investors is whether Chinese buyers will return at scale — or whether Beijing’s push for domestic AI silicon has already eroded demand for US-made high-end processors.
In Europe, political risks are back in focus. French Prime Minister Sébastien Lecornu faces a pivotal parliamentary vote today on the government’s social-security financing bill. A defeat could destabilize an already fragile governing coalition and raise the risk of early elections.
The Federal Reserve, meanwhile, is widely expected to deliver a quarter-point rate cut at tomorrow’s meeting. Markets have largely priced in the move, though investors remain attuned to guidance on the pace of future easing.
Global equities were subdued ahead of the central bank decision. European and Japanese markets traded flat, while Chinese shares posted modest losses. US equity futures also pointed to a muted open, reflecting a wait-and-see mood as traders brace for the Fed and monitor developments on the M&A front.
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