What you need to know on Wall Street today
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Disney has agreed to acquire 21st Century Fox's film studio and a large chunk of its television production assets for $52.4 billion. Here's what you need to know:
- Disney is spending $52.4 billion to arm itself for a war with Netflix
- Disney has struck an industry-changing deal, and now "everybody is talking to everybody"
- How Hollywood will fundamentally change after the Disney-Fox deal
- Netflix is shrugging off the Disney-Fox deal
- Disney and 21st Century Fox used four words that should make employees nervous
- Bankers on the Disney-21st Century Fox deal are set to make a $150 million payday
In related news, the Federal Communications Commission is voting on a net-neutrality repeal. You can follow that live here.
On Wall Street, Citigroup's new managing-director list is out - here are the investment bankers and traders who just got promoted. And we asked two of Citigroup's top executives what they look for when hiring senior investment bankers.
The head of UBS's £1 trillion wealth management business has left in a major board reshuffle. And a partner has left Tourbillon Capital, a struggling New York hedge fund.
As expected, the Federal Reserve on Wednesday raised its benchmark interest rate. Here's what you need to know:
- The Fed's forecasts for the economy confirm what everyone already knows about the GOP tax cut plan
- YELLEN: Bitcoin is a "highly speculative asset"
- Something doesn't add up in Janet Yellen promise of higher wages
- How you feel about Trump's economy probably depends on whether you own stocks
In crypto news:
- One group of traders has risen to dominate bitcoin trading
- ALBERT EDWARDS: Ignore the bitcoin bubble and pay attention to what's going on in the stock market
- German exchange Deutsche Boerse mulls launch of European bitcoin futures
- A company investing in the future of bitcoin tech is splitting its stock in 10 after it soars 1,600%
- Someone is selling a "spectacular" penthouse in Miami - but they're only accepting bitcoin
- ICO funding soars above $4 billion as US regulators crack down
Lastly, people travel thousands of miles to sell Christmas trees on the streets of Manhattan - meet an Alaskan family who has been doing it for 21 years.