Monday Morning Briefing: Another Time Warner deal. What could possibly go wrong?

October 24, 2016

AT&T’s proposed $85 billion takeover of Time Warner generated skepticism among both Democrats and Republicans, making it more likely that regulators will scrutinize the deal. Time Warner shares soared as much as 19 percent since news of the acquisition started seeping into the market. And really, why shouldn’t they? What could possibly go wrong with a Time Warner merger? Oh, wait…

Digits of the day: 16

Hillary Clinton called Donald Trump a sore loser for refusing to uphold American democracy by conceding if he loses. Since making those remarks at last week’s debate, Trump, his staffers and his family have been trying to walk back those remarks. Only 16 days until Election Day.

France began clearing the sprawling “Jungle” refugee camp in Calais, with hundreds carrying suitcases and lining up outside a hangar to be resettled in reception centers across the country. Armed police fanned out around the squalid shantytown after a night during which small groups of migrants burned toilet blocks and hurled stones at security forces in protest.

Around the country

It looks like a miracul…IT’S IN THE HOLE!

Actor, comedian and Chicago Cubs fan Bill Murray look at a baseball as he arrives to receive the 19th annual Mark Twain Prize for American Humor at the Kennedy Center in Washington, U.S., October 23, 2016. REUTERS/Joshua Roberts     TPX IMAGES OF THE DAY      - RTX2Q4XK

Actor, comedian, Chicago Cubs fan and Mark Twain Prize winner Bill Murray Oct. 23, 2016. REUTERS/Joshua Roberts

Quote of the day

“Bill Murray could shove you off the side of the Hoover Dam and you’d be like, ‘Hey,Bill Murray,’ all the way down.” – Jimmy Kimmel

  • Hundreds of people, including some famous people like Susan Sarandon and Mark Ruffalo, gathered in Los Angeles to support activists demonstrating against the construction of an oil pipeline in North Dakota. Earlier in the weekend, more than 80 protesters were arrested in North Dakota near the construction site, with the local sheriff’s department turning pepper spray on the demonstrators.
  •  Tom Hayden, poster boy for the New Left in the 60s, California politician and, yes, one-time husband of Jane Fonda, died at age 76 after a long illness.

Around the world

  • British Prime Minister Theresa May has her work cut out for her in a post-Brexit world. Not only does she need to steer a divided nation through its withdrawal from the European Union, but she also has to honor her pledge to build “an economy that works for everyone.” However, British banks are feeling picked on and are already threatening to take their ball and leave home.
  • Kurdish fighters said they had taken the town of Bashiqa near Mosul from Islamic State. The capture of Bashiqa, if confirmed, would mark the removal of one more obstacle on the road to the militants’ stronghold.

Around Wall Street

  • The U.S. government and MetLife meet again in an appellate court over how federal regulators decide a company is “too big to fail.” The label would indicate that MetLife’s collapse could devastate the financial system, and would trigger tighter oversight.
  • TD Ameritrade plans to buy rival brokerage Scottrade for $4 billion in cash and stock.

Today’s reason to live

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