Axios

Paramount was bested by Netflix on Friday in its efforts to buy Warner Bros. Discovery, but it may still appeal directly to WBD shareholders through a hostile takeover offer.

Why it matters: Paramount could argue that its all-cash bid of $30 a share is better in terms of both price and the likelihood of regulatory approvals, although it also would need to disclose more information about its debt financing.

For all the headlines about an AI-driven jobpocalypse, the evidence from November points to a labor market that has been weak this autumn, but far from collapsing.

The big picture: Job growth looks to have flatlined in the second half of the year, and unemployment has inched up. But there are few signs of the kind of job loss surge or employment collapse that accompany a recession.

• Instead, it seems frozen in place.

A Middle Eastern sovereign wealth fund last month sued to stop a Houston-based private equity firm from selling a portfolio company to a continuation vehicle, with both sides yesterday agreeing to enter arbitration.

Why it matters: This dispute gets at the fundamental conflict between LPs and GPs when it comes to CVs, which may have just peaked, if you boil away all goodwill and assumption of positive intent.

The Trump administration blamed much of America's and the world's current woes on immigration in an explosive new national security document that accuses Europe of undermining peace in Ukraine and China of ripping off the U.S.

Why it matters: The National Security Strategy, released Friday morning, asserts a "'Trump Corollary' to the Monroe Doctrine" that declares the U.S. will assert its political, economic and military will across the Western Hemisphere.

The holy grail of technology — artificial general intelligence (AGI) that can match or outdo humans — is on the horizon, Google DeepMind co-founder and CEO Demis Hassabis says.

• But the risks of something going seriously wrong are also in sight, and some are even happening now, he warns.

The big picture: Google set the entire AI world spinning in recent months with the giant leaps in its frontier model Gemini, prompting a "code red" at OpenAI and forcing others to rethink the competitive landscape.

Your human resources officers are probably using AI for a lot of jobs — and they're also finding that human resources is one of the riskiest ways to use it.

Why it matters: Managing employees at work is becoming another space where machines may be making sensitive determinations previously left up to professionals.

President Trump has directed his crackdown on immigrants toward the U.S. Somali community.

The big picture: In the week following the fatal National Guard shooting, the president has ramped up his policies and rhetoric against immigrants including those in the country legally — using fraud allegations to target Somalis.

President Trump on Thursday signed a peace deal to end the war in eastern Congo and used the moment to advance another priority: securing U.S. access to critical minerals.

The big picture: The Trump administration has aggressively pursued rare earth minerals and magnets overseas — vital for everything from the production of vehicles to nuclear weapons — after China threatened U.S. access.

The Defense Department is considering publicly releasing video footage of the second strike on an alleged drug boat on Sept. 2, Axios has learned.

Why it matters: Reporting on the follow-up attack, which killed two survivors of the first strike, has launched Democratic accusations of war crimes and even bipartisan congressional inquiries.

Dollar stores are suddenly in the conquest businesses, capturing a new cohort of customers as stretched Americans look to save.

Why it matters: When inflation was hot and people were spending on experiences, the dollar store industry had been in a prolonged slump. Now, three bullish earnings reports from the leading dollar-store chains show their newfound momentum as shoppers look to pinch pennies.

The Government Accountability Office confirmed Thursday it opened an investigation into Federal Housing Finance Agency director Bill Pulte, amid complaints about his efforts to go after President Trump's opponents.

Why it matters: The GAO inquiry will raise the heat on Pulte, who is also reportedly caught up in a grand jury probe related to the various mortgage fraud investigations he has pursued this year.

It's been a record year for inheritances: 91 people across the globe became billionaires, coming into a combined $298 billion in wealth this year — the most since UBS began tracking in 1995, according to a new report from the bank.

Why it matters: We're in the middle of what is expected to be the largest transfer of wealth the world has seen, as baby boomers die and pass down their money, houses and assets to their spouses and children.

Copper prices have been on a tear, rising to record highs, spurred by supply disruptions and worries over Trump's tariffs.

Why it matters: When it comes to the digital economy, copper is a precious metal, vital for computer chips, EVs, data centers and just about everything that is electrified.

A year of upheaval in the U.S. Foreign Service has left a beleaguered workforce struggling to advance the country's diplomatic goals, according to a new survey by the American Foreign Service Association.

Why it matters: The survey paints a grim picture of life in the diplomatic corps since President Trump's administration dismantled key federal agencies and cut thousands of jobs.

Auto standards are the latest energy policy fight to get subsumed into the politics of affordability that look slated to dominate the midterms.

Why it matters: Contra the late Kris Kristofferson, freedom's just another word for ... cheaper vehicles. That's what Trump officials claim by naming their rollback of auto mileage rules the "Freedom Means Affordable Cars" plan.

A report that Microsoft lowered its ambitious growth targets was enough to take billions of dollars out of the tech sector on Monday before the company denied the report.

Why it matters: The knee-jerk selloff is indicative of how quick the market is to react to doubts over the AI trade right now.

Here's what's new on Prime Video, Netflix, HBO Max, Disney+, Paramount+ Apple TV+ and BET+.

What we're watching: A star-studded holiday comedy, a poignant drama starring George Clooney and Adam Sandler, and a "Hard Knocks" look at four NFL teams.

America's babies are joining the 401(k) generation early, thanks to the new "Trump accounts."

Why it matters: Like employment-based retirement funds, Trump accounts will draw even more Americans into the stock market —  along with all the risks, rewards and drawbacks that entails.

• "It's like a 401(k) from birth," Brad Gerstner, an investor and champion of the accounts, said at an Oval Office press conference earlier this week.

President Trump, staring down criticism that he's prioritized global issues over pocketbook worries, next week will kick off a year of heavy stateside travel that's focused on selling his economic agenda ahead of the midterms.

Why it matters: Trump's approval rating has sunk as he has pursued peace deals around the globe and "narco-terrorists" in the Caribbean, while Americans have become more pessimistic about affording a better life.

Young Americans say the country is heading down a dark road and fear their futures are unstable, according to the latest Harvard Youth Poll out Thursday morning.

Why it matters: Financial insecurity, intense political polarization and the rise of AI are eroding Gen Z's faith in their economic prospects and public institutions overall.

Economic pain is mounting quickly for America's small businesses, raising the chances of a Main Street recession despite an AI-powered growth boom.

The big picture: The economic fortunes of mom-and-pop businesses are diverging from their larger counterparts. The dynamic is not new, but the divide is getting bigger, faster.

MOJAVE, CALIF. — Northrop Grumman on Wednesday revealed Project Talon, a robo-wingman expected to fly next year, to a select few reporters gathered in the California desert.

Why it matters: Only one of the drones exists today. But it's designed to be manufactured en masse relatively cheaply, which should appeal to the Pentagon.

Over 260,000 cases of shredded cheese sold at major retailers including Aldi, Target and Walmart are being recalled because the products may contain metal fragments, according to a Food and Drug Administration report.

The big picture: Great Lakes Cheese Co., a manufacturer based in Hiram, Ohio, initiated a voluntary recall in early October for the cheeses that are sold in 31 states and Puerto Rico, and the FDA classified the designation as a "Class 2" recall on Monday, per the FDA report.