Bloomberg News Now
Paramount Higher Offer for Warner Bros., Blizzard Hits Northeast, More
23 Feb 2026
Transcript generated automatically by AI and may contain errors.
Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Doug Krisner. Paramount's Guidance has raised its bid to buy Warner Brothers Discovery. We are told the new offer improves on the $30 a share all cash proposal made directly to Warner Brothers shareholders back on December 8th. Now, the revised Paramount offer also addresses some of Warner's earlier concerns. Here's the rub.
Back in December, Warner agreed to sell its film and TV studios and its HBO Max business to Netflix. So if the Warner Brothers board sees the new Paramount offer as superior, Netflix will have four days to respond. A powerful winter storm buried New York City in one of its 10 snowiest days on record. This storm disrupted transportation across the Northeast.
Bloomberg weather reporter Lauren Rosenthal says we're not out of the woods just yet.
There are chances of some sort of slippery winter mix later in the week, and some forecast models have hinted at the possibility of another nor'easter next week. However, this far out, it's difficult to say with certainty whether we will see another significant snowstorm.
That is Bloomberg's Lauren Rosenthal. Now, in New York City, Mayor Zoran Mamdani lifted the travel ban put in place Sunday night at 9 p.m. That directive closed streets, highways, and bridges. U.K. police have arrested former British Ambassador to the U.S. Peter Mandelson on suspicion of misconduct in public office. This comes after the U.S.
Department of Justice released emails allegedly showing Mandelson forwarding government information to Jeffrey Epstein. Police searched two properties linked to Mandelson as part of their criminal probe. His arrest deepens the crisis, engulfing British Prime Minister Keir Starmer over his decision to appoint Mandelson as U.S. envoy despite known links to Epstein.
Mandelson has not been charged, and his lawyer has declined to comment. There is a new wave of uncertainty after the U.S. Supreme Court struck down President Trump's emergency tariffs. The European Union is freezing final approval of its trade deal with the U.S., and India has called off a trip to the U.S.
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Chapter 2: What new offer has Paramount made to acquire Warner Bros.?
to put the finishing touches on their trade agreement. Today on Truth Social, President Trump said he'll put much higher tariffs on countries that, quote, play games with a high court ruling. Immediately after the Supreme Court invalidated the president's reciprocal tariffs, he enacted a 15 percent tariff under Section 122 of the Trade Act of 1974. However, these tariffs are limited to 150 days.
Here is Nathan Dean from Bloomberg Intelligence.
Under 122, President Trump could just say across the entire globe 15 percent. 301 has to be specifically targeted towards an investigation and towards a country. So I don't think the White House is going to be able to say, look, here's what the 301 tariff is for everybody across the globe. I think there's going to be specific, you know, targeted tariffs towards countries.
But at the end of the day, I don't think Congress has much of a role here to play because 301, you know, according to our analysis, is pretty, pretty firm.
That is Nathan Dean from Bloomberg Intelligence. The stock market pulled back today on renewed anxiety over the impact of AI, as well as uncertainty over U.S. tariff policy. The S&P 500 was down 1%. Shares in IBM plunged 13% today. That was after Anthropic said its clawed code tool can help with modernizing the COBOL software language.
Now, most of the mainframe computers that run COBOL are made by IBM. Elsewhere, when it comes to the impact of AI, Nassim Taleb, author of The Black Swan, expects bankruptcies for software companies.
The effect on the stock market, as you realize, the previous rally that we had was driven by a very small number of names. And now we'll probably have some broadening, re-broadening effects on redistribution. But a lot of the gains in the stock market are going to be eradicated by that. So this is why we're at a juncture of a lot of instabilities across many domains.
That is Nassim Taleb speaking to Bloomberg in Miami. The next generation of weight loss drugs from Novo Nordisk showed disappointing results in clinical trials, and investors are now calling on the company to diversify away from diabetes and obesity. Here is Bloomberg's Madison Muller.
Kagrisemma was supposed to be the next thing for Novo to help it compete with Zepbound. And so they ran this head-to-head trial between Zepbound and Kagrisemma, and Kagrisemma The expectations were that they would maybe be on par with each other. But what we saw was that Cagrosema actually wasn't as effective as Zepan, which sort of dashes Novo's hopes for this next generation drug.
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Chapter 3: How is the winter storm impacting the Northeast?
Tomorrow is President Trump's State of the Union address, and affordability and tariffs are expected to be two key domestic themes. Bloomberg's Amy Morris has a preview from Washington.
President Trump's second year in office is struggling with erratic messaging, policy reversals and sinking poll numbers. Former Republican Congressman Patrick McHenry of North Carolina, now a Bloomberg News contributor, tells Bloomberg Daybreak there's plenty for the president to talk about.
So the question of tariffs and how the president's going to respond to speak to this massive buildup of troops and air power in the Middle East and doing so in the midst of, you know, nearly 50 million people socked in in a blizzard.
And while the president's economic agenda was thrown into chaos after the Supreme Court struck down his preferred method of imposing global tariffs, he's expected to continue to promote levies in the state of the union. In Washington, Amy Morris, Bloomberg Radio.
And that is News When You Want It with Bloomberg News Now. I'm Doug Krisner and this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth. The news doesn't stop on the weekends.
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