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Massive debt-fueled mergers are surging back on Wall Street, with Paramount’s $77.9bn hostile bid for Warner Bros. Discovery - backed by $54bn in debt - highlighting a record year for $10bn-plus deals. Enabled by robust lending from banks and private credit firms, the trend is reviving investor unease, especially in sectors like media where past deals have faltered. Paramount aims to restore an investment-grade rating within two years through cost cuts, but bondholders remain wary, recalling Warner’s earlier debt struggles. Analysts warn that such aggressive financing strategies carry high risk if market conditions shift.

 

Wall Street Journal

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Job openings in the U.S. edged up to 7.67m in October, the highest in five months, driven by gains in retail, wholesale trade, and health care. The Labor Department's latest Job Openings and Labor Turnover Survey (JOLTS) also suggested that the broader labor market showed signs of slowing as layoffs rose to 1.85m, the highest since early 2023, and hiring dropped by 218,000 to 5.15m. The quits rate, a key confidence indicator, fell to its lowest level since May 2020. Despite the slight increase in vacancies, the data reflect reduced labor demand amid economic uncertainty and higher business costs. The Federal Reserve is widely expected to respond later today by announcing a cut in interest rates.

 

CNN

Bloomberg

Wall Street Journal

Nvidia has created a location verification technology designed to help prevent its AI chips from being smuggled into countries where their export is restricted. This system, leveraging the confidentiality features of its graphics processing units (GPUs), will allow customers to track the geographical operation of their chips and monitor overall performance. The development aligns with increasing governmental calls for strict measures against the unlawful export of AI chips, particularly to China, amidst ongoing concerns about national security.

 

Reuters

CVS said at an investor day on Tuesday that it plans to introduce a new artificial intelligence (AI)-driven platform that aims to bring its various services - including its health insurance, pharmacy and healthcare delivery offerings - into one app. The firm has been working to strengthen its core businesses and is looking to simplify the healthcare experience it offers going forward, said chief executive David Joyner, who added: “We righted the ship, charted a new path forward, and [we are] now entering parts of the market that either others can’t and/or simply are not equipped to be able to compete". Looking ahead to 2026, CVS anticipates sales of at least $400bn, and adjusted earnings per share of $7-$7.20.

 

Bloomberg

Reuters

Wall Street Journal

Insurers and risk professionals warn that businesses remain underprepared for the legal and operational risks associated with artificial intelligence-powered voice cloning technology. “The main concern is that this is a new, emerging risk,” observed Erlisa King, director of product liability at Tokio Marine HCC. “What we’re finding is that our insureds aren’t necessarily prepared, so they may not have the quality controls in place to mitigate this exposure.”

 

Insurance Business

Eli Lilly and Company has announced an investment of over $6bn in a new manufacturing facility located in Huntsville, Alabama. The state-of-the-art site will focus on producing small molecule synthetic and peptide medicines, including orforglipron, Lilly's first oral GLP-1 receptor agonist aimed at obesity treatment. The facility is expected to create 450 jobs and generate 3,000 construction jobs, with operations commencing in 2026 and completion anticipated by 2032.

 

Al.com

The Environmental Protection Agency (EPA) has removed references to fossil fuels - the main driver of global warming - from its website discussing climate change causes. Critics, including scientists and former officials, argue the omission is misleading, asserting that nearly all recent warming results from human activities, particularly the burning of fossil fuels. Experts emphasized the importance of accurate information, with one scientist stating: "Ignoring fossil fuel pollution . . . is like pretending cigarettes don’t cause lung cancer."

 

Associated Press

Confidence among small businesses in the U.S. edged up in November, with optimism boosted by higher sales expectations, the National Federation of Independent Business (NFIB) reported on Tuesday. The organization's small-business optimism index rose 0.8 point to 99, ahead of the unchanged 98.2 expected among economists polled by the Wall Street Journal. Six of the 10 components that make up the gauge increased, while three decreased. One was unchanged. A net 19% of small companies said they plan to create new jobs in the next three months, up four points from October, and the largest share so far this year. Labor quality continued to rank as the primary issues affecting small business owners. The survey also found that the net percent of owners raising average selling prices rose 13 points from October to a net 34%, which was the highest reading since March 2023 and the largest monthly jump in the survey's history.

 

Bloomberg

RTT News

Wall Street Journal

The Supreme Court yesterday appeared poised to expand presidential authority over independent federal agencies, potentially overturning a 90-year-old precedent known as Humphrey's Executor - a decision which Chief Justice John Roberts described as “a dry husk.” Liberal justices cautioned that a shift could centralize power in the presidency, allowing for the dismissal of experts in favor of loyalists. The court's conservative majority, including justices appointed by Donald Trump, has already shown support for the administration's stance, allowing the removal of board members from various agencies.

 

Forbes

The Columbian

OregonLive.com

Washingtonpost.com

Starbucks workers and union supporters in 10 countries, including the U.K., Germany, and Australia, are staging coordinated protests today in solidarity with 3,000 striking U.S. baristas. The U.S. workers, represented by Starbucks Workers United, are calling for better pay, staffing, and resolution of hundreds of labor disputes. While Starbucks says the strike has had minimal business impact, international demonstrations aim to escalate pressure amid stalled contract talks and ongoing labor tensions.

 

BBC News

Krefeld, the secretive family office of the Hermès billionaire clan, has quietly launched Breithorn Holding, a new entity for fund and asset management, signaling broader investment ambitions beyond their €15bn luxury brand. Led by Charles-Henri Chaliac, the move comes as the 100+ heirs, worth $186bn, look to deploy their wealth, fueled by €5.1bn in recent dividends, into sectors like insurance and health & beauty. The family office, formed in 2022 after fending off LVMH’s takeover bid, remains highly discreet but is now joining the ranks of other prominent French dynastic investors. 

 

Bloomberg

The chief executive of Coupang, South Korea’s biggest online retailer, has stepped down, taking responsibility for what is one of the country’s biggest data leaks. Park Dae-jun said he is "deeply regretful" about the incident, which exposed the information of 33.7m customers. Coupang said he will be replaced on an interim basis by Harold Rogers, chief administrative officer of its parent company in the U.S. The news came after Prime Minister Kim Min-seok said that the government will launch a thorough investigation and take stern action against any legal violations committed by the company. A National Assembly hearing has been scheduled for December 17th, with founder and chair Kim Bom-suk among those formally summoned to testify.

 

Korea JoongAng Daily

Financial Times

The Korea Times

Reuters

McDonald’s Netherlands is facing a backlash over its 2025 Christmas advert, created entirely using artificial intelligence (AI), which viewers have criticized as unsettling, poorly made, and cynical. The ad, featuring glitchy, AI-generated mishaps before Christmas, sparked outrage online, with critics calling it “soulless” and “demonic.” The production team defended the creative process, insisting the AI project involved extensive human oversight and effort.

 

Forbes

The Independent UK