Writing the summary…
Iran reportedly says it can reopen Strait of Hormuz within 7 days if U.S. eases military pressure
Original reporting
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States including California and New York sued over concerns of ‘extinguishing competition’ with $81bn merger Paramount has reached a settlement with California and several other states that sued over a proposed $81bn merger with Warner Bros Discovery ( WBD ), the California attorney general announced Monday, clearing the way to consolidate some of Hollywood’s most recognizable TV networks and studios under one owner. Though the merger was approved by the justice department in June, a coalition of 12 states, led by California, had sued over concerns that combining two of the five last legacy studios in Hollywood would “extinguish competition” and lead to fewer movies in theaters and on streaming platforms. Continue reading...

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Oil falls below $100 a barrel on reports Iran ‘makes strait of Hormuz offer’; UK government borrowing paints ‘dismal picture’ – business live
The rising cost of servicing the UK national debt pushed up borrowing last month How much ‘headroom’ might John Healey still have to keep within the government’s fiscal rules? That’s the question dogging Westminster and the City. “The chancellor has probably lost about half the headroom he inherited, leaving it between £10bn to £15bn. As long as the headroom is in double figures, he will probably be able to avoid topping it up, but the drop in headroom means any additional day-to-day spending, such as on defence or cost of living, will have to be paid for by higher taxes. “What’s more, if the recent rise in energy prices is sustained through the next few months, household energy bills could rise by another 25% in January, which would take them above the level that the previous government capped them at. That would only further increase the pressure to act on cost of living by temporarily
Oil prices reverse gains as United Nations General Assembly meeting lifts hopes for Iran war diplomacy
Oil prices reversed early gains on Tuesday amid optimism that prospects for a diplomatic solution to the U.S.-Iran war are improving.