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Friday newspaper round-up: Netflix, Home Reit, FTX
(Sharecast News) - Netflix co-founder Reed Hastings, the entrepreneur who reshaped the media landscape and led the charge into streaming, announced he is stepping down as co-chief executive of the company on Thursday. Hastings, 62, co-founded the company in 1997 when Netflix delivered its subscribers movies on DVDs sent in the mail, will become chairman. Greg Peters, the company's chief product and chief operating officer, will join Ted Sarandos, chief content officer, as a co-chief executive. Sarandos was elevated to co-CEO in July 2020. - Guardian The US should not be "playing games" with the debt ceiling, the JP Morgan chief executive, Jamie Dimon, warned warring US political factions on Thursday as a heated row over the federal borrowing limit reached a crisis point. "We should never question the creditworthiness of the US government. That is sacrosanct and it should never happen," Dimon said on Thursday in an interview on CNBC. "This is not something we should be playing games with at all." - Guardian
The Government must lower taxes and remove red tape if it wants to drive long-term growth and "reach the sunlit uplands", Sir Martin Sorrell has said. Sir Martin, chief of advertising group S4 Capital, said Prime Minister Rishi Sunak had failed to set out a plan to grow the economy with policies that would encourage businesses like his to invest. - Telegraph
Home Reit, the embattled "landlord for the homeless", has had to delay its annual results for the second time, with its auditor demanding even more time to go through its accounts. The company's results for the year to the end of August were due to be published in late November. However, a few days earlier its business model and practices were attacked by a short-seller, plunging it into chaos. - The Times
The FTX boss, who was the liquidator to Enron, the fraudulent energy company, said he had set up a task force to explore restarting FTX.com, the company's main international exchange, and was looking into whether reviving it would recover more value for customers than his team could get from simply liquidating assets or selling the platform, according to The Wall Street Journal. - The Times
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