HASTINGS REED sold $33.2M of NFLX

SK Hynix's U.S. subsidiary faces regulatory hurdles for a memory chip factory. Netflix launched an AI tool for content matching. TrendForce says Marvell's Lumentum acquisition may challenge Broadcom in AI optics. Meta is reportedly exploring a $20B debt package for operations and capital needs, according to Bloomberg.

France's National Assembly approved a 5.5-cent-per-gigabyte data tax, targeting global digital giants like Netflix, Google, Meta, Amazon, and Akamai. The tax aims to generate €10 billion annually and promote digital moderation. The Finance Committee initially rejected the amendment, but a public vote secured its passage.

France's National Assembly passed an amendment to tax data sent to French users at €0.055 per gigabyte, targeting big tech firms like Google, Meta, and Netflix. The tax, expected to raise €10B annually, faces criticism for potential unintended consequences and narrow voting margin. VideoLAN estimates it could cost them over €1M yearly.

Netflix (NFLX) is cutting 2% to 3% of its London workforce, including regional production chief Anna Mallett, as part of a global restructuring. This follows a previous announcement to eliminate 1,000 roles worldwide. The moves aim to streamline operations amid Wall Street scrutiny over slowing growth and a 44% stock decline over the past year.

France's National Assembly voted to tax US companies €0.055 per GB of data sent to French users, targeting firms like Google, Meta, Amazon, Netflix, and Akamai. The measure, part of the 2027 budget, aims to generate €10B annually. It requires ISPs to track data flow and report to tax authorities. The tax must pass further budget approvals to become law.

Netflix fired Bela Bajaria, its chief content officer, and replaced her with Peter Rice, citing stagnant engagement and talent management issues. The move follows a drop in Netflix's stock and internal struggles with content strategy. The company insists it is still growing but faces challenges in maintaining its growth trajectory.