The daily business briefing: October 17, 2017
Airbus buys into Bombardier's C Series jet business, Netflix subscriber growth beats expectations, and more


1. Airbus to buy majority stake in Bombardier C Series jet program
Airbus announced Monday that it would buy a majority stake in Canadian aircraft manufacturer Bombardier's C Series business, and add a final assembly line for the planes at its Mobile, Alabama, plant. The news came in the middle of a trade dispute in which the Trump administration has hit Bombardier with a 300 percent tariff after rival aircraft maker Boeing complained that Bombardier was benefitting from illegal subsidies and dumping cheap planes in the U.S. The dispute has threatened Delta Airlines' deal to buy 75 Bombardier C Series CS100 jets. Bombardier CEO Alain Bellemare said Airbus' U.S. assembly line would make the aircraft "a domestic product" not subject to import duty.
The Atlanta Journal-Constitution Reuters
2. Netflix stock gains as subscriber growth exceeds expectations
Netflix shares rose by 2 percent to touch a record in after-hours trading on Monday after the video-streaming company said it had added more subscribers than expected in the third quarter. Netflix added 850,000 subscribers, beating analysts' average estimates of 810,000. The growth was driven by the success of Netflix original shows such as the latest season of the popular Narcos. Netflix, which has seen its shares rise by 64 percent this year, also said it planned to spend $7 billion to $8 billion on original content in 2018 and focus on expanding internationally, as it comes close to saturating the U.S. market.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. Weinstein Co. considers putting itself up for sale
The Weinstein Co., reeling from sexual assault and harassment allegations against co-founder Harvey Weinstein, said Monday it was considering putting a significant portion of its assets up for sale. The influential film studio, which produced such hits as Django Unchained, The Hateful Eight, and Lion, also said it would receive an immediate cash infusion from Colony Capital. The company's board last week fired Weinstein, who has faced an avalanche of accusations of sexual harassment and assault spanning several decades. The accusers include some of Hollywood's leading actresses.
4. Trump urges bipartisan health-care deal
President Trump this week urged Sen. Lamar Alexander (R-Tenn.) to push a short-term ObamaCare fix, although he insisted that the old health-care law is "dead." Alexander said Trump would accept a bill funding subsidies to insurance companies that lowered out-of-pocket costs for low-income Americans, which Trump abruptly cut off last week, in exchange for greater flexibility for states. Alexander and Sen. Patty Murray (D-Wash.) have been working on a bipartisan health-care plan for months, and could introduce it "within days." Sen. Ron Johnson (R-Wis.) is expected to introduce a more conservative alternative with a better shot in the Republican-held House. Many Republicans support a temporary fix of some kind. "We absolutely have to think about that family around the kitchen table," said Sen. Bill Cassidy (R-La.).
Politico The Wall Street Journal
5. Stocks hold near record levels as major earnings reports roll in
U.S. stocks held steady early Tuesday as a flurry of big earnings reports rolled in. All three benchmark stock indexes reached new records on Monday. Dow Jones Industrial Average futures held steady early Tuesday while S&P 500 and Nasdaq-100 futures edged down by less than 0.1 percent. Morgan Stanley shares jumped by 1.3 percent in pre-market trading after the big bank reported earnings that beat expections. Goldman Sachs also reports third quarter earnings Tuesday. Johnson & Johnson shares surged, too, after it reported better-than-expected sales and profit. UnitedHealth Group reported earnings that beat expections, but revenue that fell just short of forecasts.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
How will the next pope change the Catholic Church?
Talking Points Conclaves can be unpredictable
By Joel Mathis, The Week US
-
Conspiracy theorists circle again following RFK file release
The Explainer Both RFK and his brother, President John F. Kennedy, have been the subjects of conspiracies
By Justin Klawans, The Week US
-
7 equestrian activities for when you feel like horsin' around
The Week Recommends These graceful animals make any experience better
By Catherine Garcia, The Week US
-
Why Russia removed the Taliban's terrorist designation
The Explainer Russia had designated the Taliban as a terrorist group over 20 years ago
By Justin Klawans, The Week US
-
Inside the Israel-Turkey geopolitical dance across Syria
THE EXPLAINER As Syria struggles in the wake of the Assad regime's collapse, its neighbors are carefully coordinating to avoid potential military confrontations
By Rafi Schwartz, The Week US
-
'Like a sound from hell': Serbia and sonic weapons
The Explainer Half a million people sign petition alleging Serbian police used an illegal 'sound cannon' to disrupt anti-government protests
By Abby Wilson
-
The arrest of the Philippines' former president leaves the country's drug war in disarray
In the Spotlight Rodrigo Duterte was arrested by the ICC earlier this month
By Justin Klawans, The Week US
-
Ukrainian election: who could replace Zelenskyy?
The Explainer Donald Trump's 'dictator' jibe raises pressure on Ukraine to the polls while the country is under martial law
By Sorcha Bradley, The Week UK
-
Why Serbian protesters set off smoke bombs in parliament
THE EXPLAINER Ongoing anti-corruption protests erupted into full view this week as Serbian protesters threw the country's legislature into chaos
By Rafi Schwartz, The Week US
-
Who is the Hat Man? 'Shadow people' and sleep paralysis
In Depth 'Sleep demons' have plagued our dreams throughout the centuries, but the explanation could be medical
By The Week Staff
-
Why Assad fell so fast
The Explainer The newly liberated Syria is in an incredibly precarious position, but it's too soon to succumb to defeatist gloom
By The Week UK