Global Events and Business News Update

A series of Russian strikes on medical warehouses in Ukraine has destroyed millions of dollars' worth of medicines and medical supplies, complicating the treatment of sick and wounded Ukrainians. The strikes, which targeted warehouses supplying the majority of Ukraine's pharmacies, have been denied by Russia as targeting civilian infrastructure. Ukrainian authorities accuse Russia of deliberately targeting medical facilities and personnel, with over 2,500 medical institutions damaged or destroyed and over 500 medical workers killed since the start of Russia's full-scale invasion.

Netflix and Paramount are engaged in a battle to acquire Warner Bros Discovery, with Netflix initially announcing a deal worth $83bn to acquire most of the company. However, Paramount has made a counteroffer of $108bn for the entire company, appealing directly to Warner's shareholders and claiming its deal is 'superior to Netflix in every dimension'. The rivalry between the two streaming companies highlights their competing visions for the future of entertainment.

K-pop star Rain performed at the Longines Hong Kong International Races week, drawing thousands of fans to Sha Tin. The event marked the climax of the racing week, with visitors from around the world attending to see top horses like Romantic Warrior and Ka Ying Rising. The atmosphere was electric, with fans enjoying Rain's 20-minute performance and the live racing.

The article discusses how Trump's trade war and tariffs imposed on Chinese imports have affected the toy industry in the United States. The tariffs have led to increased costs for small toy retailers, forcing some to close their businesses. The article highlights the story of Jennifer Bergman, owner of West Side Kids, a Manhattan toy store that was forced to shut down due to the tariffs. The tariffs have created a split in the Christmas economy, with big-box retailers like Walmart and Target able to absorb the costs, while small businesses struggle to stay afloat. The article also notes that the tariffs have not only hurt small businesses but also led to a decrease in US imports and a growing divide between big-box chains and independent retailers.