Netflix faced fierce criticism on Friday over its blockbuster deal to acquire Warner Bros., the storied Hollywood studio. The deal's biggest loser may be Warner Bros. competitor Paramount Skydance, the Hollywood studio owned by Larry Ellison, one of the world's richest people and a close ally of US President Donald Trump.
Grocery chain Kroger will acquire smaller rival Albertsons in a $24.6 billion transaction announced Friday that would create a supermarket giant but could face tough regulatory scrutiny. But shares of both companies fell Friday as analysts cautioned that the transaction could face a tough once-over from Biden administration regulators, who have adopted a skeptical approach to large mergers.
JPMorgan Chase reported a drop in third-quarter profits Friday as it set aside funds for potential loan defaults and highlighted the rising risk of recession. The results were dented by JPMorgan's move to add $808 million in reserves for potential bad loans.
Turkish President Recep Tayyip Erdogan backs the Kremlin's idea of creating an international gas hub in Turkey and wants his government to quickly present implementation plans, Turkish media reported Friday. "We are quickly establishing a security net" for the new gas distribution centre project, Erdogan said.
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