Business

Warner Brothers Discovery has rejected the latest takeover bid from Paramount Skydance, saying it's still inferior to a rival offer from Netflix. Despite a $40 billion guarantee from billionaire Larry Ellison, WBD's board says the plan is a risky leveraged buyout, financed by debt. But first, the United States says it's "selectively" removing sanctions to bring Venezuelan oil back into international markets, starting with the sale of up to 50 million barrels to the US. 

In a Truth Social post late on Tuesday night, US President Donald Trump announced that Venezuela would be "turning over" between 30 and 50 million barrels of oil to the US, where it will then be sold at market prices. In this edition, we explore what impact this move could have for the US as well as for China, which was the top buyer of Venezuelan oil before a US-imposed blockade last month. Elsewhere, Japan reacts angrily to China's decision to ban exports of "dual-use" items.

A severe cold snap has gripped Europe, causing deadly accidents and travel chaos. In the German capital Berlin, freezing temperatures have made the situation even worse for tens of thousands of households that have been affected by a widespread power outage since Saturday. A suspected arson attack claimed by a left-wing group is thought to have knocked electricity offline, sparking questions over the vulnerability of Germany's wider infrastructure. 

French farmers are continuing their protests across the country this Tuesday, in a bid to raise awareness about the difficult financial situation they face and the threat posed by the EU-Mercosur trade pact. This as Italy has reportedly planned to support the deal when EU ambassadors vote on the measure on January 9. Also in this edition: automaker Hyundai showcases its new humanoid Atlas robot at the Consumer Electronics Show in Las Vegas, saying the robots will be rolled out in production sites in 2028.

The Trump administration is reportedly planning to meet executives of top US oil companies to discuss Venezuela this week, after the administration declared it would "run" the country and US Big Oil firms would revive the oil industry. As Washington accuses Venezuela of "stealing American oil", we take a look back at its long history of involvement in the Latin American country's vital sector. 

US President Donald Trump has made no secret of his desire for American firms to take control of Venezuela's massive oil reserves. But the dilapidated state of the country's petroleum infrastructure will make exploiting those reserves difficult and expensive. Meanwhile, China is facing the loss of one of its key suppliers of sour, heavy crude. We take a closer look in this edition.

The European Union's controversial new rules on polluting industrial imports have gone into effect on January 1, following a two-year transition period. Heavy goods such as steel, aluminium and cement are now subject to a new fee levied according to the amount of CO2 emitted during their production. Beijing has issued a statement slamming the measure as unfairly targeting Chinese goods.   

As Bulgaria formally adopts the euro currency this January 1, residents in the capital Sofia queued up in front of ATMs just after midnight to withdraw the new banknotes. Also in this edition: the world's 500 richest people added a record $2.2 trillion to their fortunes in 2025. Plus, on the occasion of Netflix's "Stranger Things" finale, we see how the show became a cash machine for the streaming giant over the past decade.

It's only been three years since ChatGPT leaped onto the world stage, but artificial intelligence is now becoming an integral part of daily life. The technology has been integrated into search engines, social media apps and online shopping sites, but has also shaken financial markets. We take a look back at how AI moved the world in 2025. But first, as Bulgaria remains divided on the eve of joining the euro, we take a look at the possible implications of switching to the single currency. 

Bulgaria will formally adopt the euro as its currency starting on January 1, leaving behind the lev, which it has used since the late 19th century. The move is unpopular with almost half the country's population over fears it could spark higher inflation, something that mistrusted authorities have been trying to downplay. Also in this edition: a central district of Budapest bans short-term rentals starting this January in a bid to fix a housing crisis.