Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US and Chinese officials offered upbeat assessments of their talks on artificial intelligence, trade and investment, signaling a mutual desire to steady ties ahead of this week’s summit between leaders Donald Trump and Xi Jinping.China’s top trade negotiator, Li Chenggang, said the talks were held in a “good atmosphere” as he left JPMorgan Chase & Co.’s headquarters in New York on Sunday, while US Treasury Secretary Scott Bessent lauded “very successful” discussions. The Chinese official Xinhua News Agency called the exchange “candid, in-depth and constructive.”
2) Oil dropped for a fourth day, with Brent set for the longest run of declines since June, as traders tracked diplomatic efforts to end the US-Iran war and signs cargoes are still getting through the Strait of Hormuz.
3) The settlement talks between Paramount Skydance Corp. and California officials over the planned acquisition of Warner Bros. Discovery Inc. are said to include a financial penalty if the company fails to make good on a promise to distribute 30 films per year in theaters.Paramount would have to pay $30 million for each film that falls short of that goal, according to two people familiar with the discussions who asked to not be identified because the negotiations are private. It could also be forced to sell its stake in Miramax, the studio behind movies such as Pulp Fiction, if it fails to meet the target, one of the people said.