Monday Briefing: AT&T to exit media in $43 billion deal with Discovery

Monday, May 17, 2021

by Linda Noakes

Hello

Here's what you need to know.

Israel kills an Islamic Jihad commander, AT&T and Discovery conjure up a new entertainment giant, and why finishing work on time could be a lifesaver

Today's biggest stories

FILE PHOTO: Cast members arrive for the premiere of the film 'Harry Potter and the Deathly Hallows: Part 2' in New York, July 11, 2011. REUTERS/Lucas Jackson

U.S.

AT&T, the owner of HBO and Warner Bros studios, and cable and streaming network Discovery, the owner of lifestyle TV networks such as HGTV and TLC, are to combine their media assets.

The proposed deal would put together one of Hollywood's most powerful studios, home to the Harry Potter and Batman franchises, with Discovery's stable of home, cooking, nature and science shows.

A poverty-fighting measure included in the COVID-19 relief bill passed this year will deliver monthly payments to households including 88% of children in the United States, starting in July.

A former Florida official central to the federal probe into whether U.S. Representative Matt Gaetz trafficked a minor for sex will plead guilty today and agree to cooperate with prosecutors, which may spell trouble for the Republican congressman.

Microsoft conducted a probe into co-founder Bill Gates' involvement with an employee almost 20 years ago after it was told in 2019 that he had tried to start a romantic relationship with the person, the company says.

A Palestinian firefighter reacts at the site of Israeli strikes in Gaza City, May 17, 2021. REUTERS/Mohammed Salem

WORLD

Israel killed a senior Palestinian militant commander in Gaza in air strikes which it said also targeted underground tunnels used by Hamas, and Islamist groups renewed rocket attacks on Israeli cities.

India reported a further decline in new coronavirus cases though daily deaths remained above 4,000 and experts warned that the count was unreliable due to a lack of testing in rural areas.

Myanmar’s Miss Universe contestant, Thuzar Wint Lwin, used the pageant to urge the world to speak out against the military junta, whose security forces have killed hundreds of opponents since it seized power in a February 1 coup.

Working long hours is killing hundreds of thousands of people a year in a worsening trend that may accelerate further due to the pandemic, the World Health Organization says.

MARKETS

Global shares hit the pause button and gold briefly reached a three-month high as surging COVID-19 cases in Asian countries and inflation pressures tempered demand for riskier assets.

Bitcoin rallied from a three-month low in a volatile session that saw investors initially selling and then buying cryptocurrencies in the wake of Tesla boss Elon Musk's tweets about the carmaker's bitcoin holdings. In his latest tweet, Musk said "Tesla has not sold any bitcoin".

High unemployment. Rising prices. Gas lines. We look at the headaches facing President Joe Biden as the United States' economic recovery hits some bumps.

Euro zone governments' borrowing costs are at multi-month highs and German 10-year bond yields are rising towards 0%, yet ECB policymakers and investors appear unruffled, a sign that they view the bloc's ongoing economic recovery as the real thing.

Quote of the day

"I shall be hugging literally everyone I can get my hands on. I shall snatch babies from their mothers, and lean over zimmer frames"

Joanna Lumley

British actress

UK reopens for business

Video of the day

On the edge of Moroccan desert, surfers give kids a taste of freedom

In a small fishing town wedged between the Atlantic Ocean and the Sahara, a group of idealistic young surfers are teaching local children to brave the waves.

And finally…

'WandaVision' rules at MTV Movie and TV Awards

The Marvel comics spinoff dominated, while Scarlett Johansson and Sacha Baron Cohen got special awards for their contributions to the film industry.

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