Kia ora and welcome to your Tuesday morning summary of international business and political news.
First, Ukrainian President Volodymyr Zelensky is meeting with European allies in London to get backing on defence and security, and also discuss the revised US peace plan, Al Jazeera reported.
Zelensky said negotiators were still divided over territorial concessions in the US plan, specifically in eastern Ukraine.
French President Emmanuel Macron said talks with Zelensky were aimed at finding “convergence” among US, European and Ukrainian allies on a possible peace deal.
“I think the main issue is the convergence between our common positions, Europeans and Ukrainians and the US to finalise these peace negotiations.”
He said all parties could then move to a “new phase” to secure the best conditions for Ukraine, Europe, and for collective security.
Russian President Vladimir Putin.
In Japan, a magnitude-7.6 earthquake has hit near the country’s north-eastern coast, prompting a tsunami warning. About 90,000 people were ordered to evacuate after the quake struck on Monday night local time, the ABC reported.
The Japan Meteorological Agency said the quake's epicentre was in the Pacific Ocean, 80 kilometres off the coast of Aomori Prefecture. It prompted a warning that a tsunami of up to three metres could hit parts of the coastline.
Elsewhere, thousands of civilians on both sides of the Thailand-Cambodia border have fled their homes after a rise in violence. Air Force jets bombed Cambodian military positions after a Thai soldier was killed in an exchange of fire along the disputed border, the BBC said.
The clashes represent the most intense exchange of violence since the two countries agreed to a ceasefire in July.
In October, they signed an agreement brokered with the help of Malaysia and the US, but last month Thailand said it was suspending its implementation, the BBC noted.
Overnight, there’s been another twist in the proposed Netflix-Warner Bros Discovery deal after Paramount Skydance launched a hostile takeover bid for WBD. Paramount’s offer of US$30 per share in cash values WBD at US$108.4 billion, including debt, Bloomberg reported.
The bid outpaces Netflix’s offer of US$27.75 per share in cash and stock. Paramount’s offer is for all of WBD, while Netflix is only interested in the Hollywood studios and streaming business. “We’re really here to finish what we started,” Paramount chief executive David Ellison told CNBC.
“We’re sitting on Wall Street, where cash is still king. We are offering shareholders US$17.6b more cash than the deal they currently have signed up with Netflix, and we believe when they see what is currently in our offer, that’s what they’ll vote for.”
Elon Musk.
Social media firm X has blocked the European Commission from making advertisements just days after it fined Elon Musk's platform €120m over its blue tick badges, the BBC reported.
A European Commission spokesperson said it always uses all social media platforms in “good faith”. The EU regulator said the platform's blue tick system was "deceptive" because the firm was not “meaningfully” verifying users.
It claimed X was also failing to provide transparency around its adverts and was not giving researchers access to public data. The social media platform has been given 60 days to respond to the Commission.
Finally, a number of leadership changes were announced at Berkshire Hathaway as 95-year-old Warren Buffett prepares to step aside, CNN reported.
Todd Combs, head of insurance company Geico, is leaving for an “interesting and important job” at JPMorgan Chase. “Todd made many great hires at Geico and broadened its horizons. JPMorgan, as usually is the case, has made a good decision,” Buffett said.
Geico’s chief operating officer Nancy Pierce will become the company’s CEO effective immediately. Another change included the retirement of chief financial officer Marc Hamburg after 40 years with the company. Charles Chang, CFO of Berkshire Hathaway Energy, will take over the role next year.
