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Happy Friday everyone,

Now you’ve recovered from the shock of finding out that the music you listened to throughout 2025 was, lo and behold, the music you listened to throughout 2025, we can get you up to speed with the news.

Oh, and welcome to our new subscribers.

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Quote of the Week

Netflix to buy Warner Bros film and streaming businesses for $72 billion

Netflix announced it is buying Warner Bros’ film and streaming businesses for $72 billion, beating out Cumcast Comcast and Paramount to grab a library that includes Harry Potter, Game of Thrones, Casablanca and the entire HBO catalogue.

Netflix CEO Ted Sarandos called it a “rare opportunity,” which is CEO-wankerspeak for “we can’t believe they may actually let us get away with this one.”

Warner CEO David Zaslav declared it a union of “two of the greatest storytelling companies”.

It’s a bit of an overstatement, considering WB is one of the oldest film studios in the world, and Netfix used to send people DVDs in shitty envelopes.

Regulators are expected to sweat heavily over the deal.

The merger would create a streaming mega-beast with unprecedented scale, prompting warnings that cinema output could shrink and that Hollywood unions will probably start throwing (directors) chairs through windows.

Analysts say Netflix may face a logistical headache integrating such a huge studio, but if it succeeds, consumers can expect one thing for certain: higher subscription prices.

So whilst your subscription may soon cost $69.99 x month, at least you’ll be able to get that long awaited Harry Potter x Casablanca crossover franchise.

The rather appropriately named Stockholm International Peace Research Institute (SIPRI) says arms producer revenues rose 5.9% to a record $679 billion, fuelled by two active wars and a worldwide jump in defence spending.

The usual suspects (the US and Europe) did most of the heavy lifting, with American giants like Lockheed and Northrop growing their revenues by a combined 3.8%.

Europe’s boom was sharper at 13%, thanks to Ukraine-driven demand and a general sense that Russia could be up for a bit of scrap.

Speaking of Russia, their two major arms companies jumped 23% in revenue despite global ‘sanctions’, as it turns out pummelling Ukrainians for 4 years can be quite good for business.

Not one to be out-gunned in the pummelling civilians department, Israel’s defence sector grew 16%, with global buyers seemingly unbothered by the political backlash over the war in Gaza.

The only region that lagged somewhat was Asia/Oceania, down 1.2%, dragged down mostly by a Chinese freeze in defence contracts due to a widespread corruption purge and by the Aussie revival of their armed Kangaroo program failing miserably.

Chinese mega embassy could bring security advantages, says Downing Street

The UK is edging toward approving China’s giant new embassy in London, despite warnings it could become espionage HQ with a gift shop attached.

And whatever would give people that idea?

Downing Street insists the plan actually improves security by corralling China’s seven diplomatic sites into one heavily monitored fortress near the Tower of London.

The decision has been delayed for the third time, now pushed into January, as ministers quietly iron out “national security issues.”

China has agreed to move all accredited diplomats onto the single Royal Mint Court site, which No 10 says makes surveillance easier.

Critics hear “surveillance” and picture it going both ways: the planned compound sits beside fibre-optic cables carrying sensitive City of London data, and the original blueprints arrived with some rooms mysteriously blacked out.

MI5 calls China a daily espionage threat, and last month issued a rare LinkedIn-based spy alert.

Labour insists concerns have been resolved, but former Tory foreign secretary James Cleverly accuses the government of bulldozing approval and blocking security services from giving private evidence.

Beijing, for its part, is furious at the delays and is urging London to stop “undermining our agents mutual trust.”

Swiss voters reject 50% inheritance tax on wealthy

Swiss voters firmly rejected a proposed super-tax on massive inheritances.

The Socialist Youth plan to slap a 50% tax on estates above 50 million francs ($62 million) lost by a stunning 78% to 22%, an even heavier defeat than expected and far below the Swiss left’s usual electoral strength.

Because if there’s one thing the Swiss can all get behind it’s laundering money for dictators protecting the wealthy.

The initiative bundled wealth redistribution with climate funding, but its core problem was scale: the federal government rarely touches inheritance taxes, which are handled by cantons (states), and nothing in Switzerland comes close to a 50% levy.

The government and parliament, across all major parties, warned that evil regimes would stop storing their money there rich residents would simply leave, shrinking the tax base rather than growing it.

Business groups also said family firms would be hammered during generational transfers.

In 2015, a milder millionaire-inheritance tax lost with 71% voting no. A decade later, voters faced a more radical version and responded with an even more emphatic rejection.

Take notes Gary…

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Admiral testified Pete Hegseth did not give 'kill them all' order, US lawmakers say

Navy Adm. Frank Bradley has told lawmakers he never received a “kill them all” directive from War Crimes Secretary Pete Hegseth before the September 2nd US strike on a suspected drug-smuggling boat in the Caribbean.

The claim, reported by The Washington Post, sparked political uproar because the attack killed 11 people and involved four separate strikes.

Hegseth denies being too drunk to remember issuing any such order.

Sen. Tom Cotton and Rep. Jim Himes, who heard Bradley’s closed-door testimony, said the admiral insisted he got only standard written instructions.

Even so, Himes called the footage “deeply troubling,” noting two people were hit while clearly in distress.

Democrats want the Trump administration to release the full video and Hegseth’s written orders.

Trump says he’s open to it, once he’s done being racist to Somalis.

Legal scholars have warned the operation could constitute a crime if survivors were deliberately targeted.

EU agrees deal to ban Russian gas by autumn 2027

The EU has struck a politically explosive deal to ban all Russian gas imports by autumn 2027, finally severing one of Moscow’s biggest remaining revenue streams nearly four years into the Ukraine war.

Ursula von der Leyen called it “the dawn of a new era” i.e. we really mean it this time, after years of trying and failing to kick the habit of giving Russia money despite spending billions fighting them.

The timeline is staggered: long-term pipeline contracts must end by late 2027, LNG contracts by early 2027, with shorter deals cut off even sooner.

Companies will be allowed to use “force majeure” to legally ditch existing Russian contracts.

Europe’s reliance has already plunged from 45% of imports pre-war to 19% today, though ironically Russia is still the EU’s second-largest LNG supplier after the US.

Hungary and Slovakia get a special mention as they’ll be told to ditch Russian oil by end-2027, despite Viktor Orbán’s ongoing same-sex romance with Putin.

The Kremlin says the ban will speed up Europe’s economic decline.

Throwing stones out of glass houses, much?

🍻Half Pints

Quick-fire news you might have missed

Drunkard of the Week

Staff at a Virginia liquor store got a shock on Saturday when they came into work to find the store had been broken a raccoon with a penchant for scotch.

The masked bandit was found passed out in the bathroom between the toilet and bin, having helped itself to some bottom shelf spirits with the enthusiasm of a recently divorced middle-aged man.

After a few hours of sleep and zero signs of injury (other than a hangover), the animal was safely released back into the wild.

We have approached the racoon to be our new mascot in exchange for a bottle of Glenfiddich per quarter.

That’s all for today, but before you go…

We’re always open to feedback (and hate-mail), so feel free to reply and we’ll get back to you within 5 “working” days.

Barring a natural disaster or being kidnapped by the deep-state, we’ll see you next week.

Thanks to Connor and John