Falling: Oil prices hit fresh 2-1/2-month lows this morning as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures were down $2.11, or 2.5%, at $83.07 a barrel, while U.S. West Texas Intermediate crude was at $78.77 a barrel, down $2.05, or 2.5%. Both hit their lowest levels since late August. Read the full story.
AI guidelines: SAG-AFTRA actors aren’t totally on board with Hollywood studios’ latest labor agreement pitch. The Screen Actors Guild-American Federation of Television and Radio Artists said there were still “several essential items” with which they couldn’t agree during their negotiations with the Alliance of Motion Picture and Television Producers, including artificial intelligence guidelines. Read the full story from CNBC.
Debt reduction: WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. In a late Monday announcement, WeWork said it entered into a restructuring support agreement with the majority of its stakeholders to “drastically reduce” the company’s debt while further evaluating WeWork’s commercial office lease portfolio. Read more.
