In today’s edition of ‘striking works’, we’re in Hollywood, where actors have struck a deal worth more than $1 billion with studios. Do we think finance workers could do the same? #REF! errors piling up, earnings filings missed. See you on the picket line.

The lowdown

• 📉 Sony reports a 29% drop in operating profit amid weakness in its chip business.

• ￥ SoftBank books a $5.2 billion quarterly loss as investments and the weak yen bite.

• 🚑 Apple co-founder Steve Wozniak is rushed to hospital in Mexico after a ‘possible stroke’.

Flex your finance muscle 💪

Porkflation

While much of the Western world battles inflation, China has the opposite problem. The country’s economy slipped back into deflation last month, spurred by a drop in pork prices.

It sounds strange that an economy the size of China’s can be influenced by the price of a single meat, but China is the world's biggest consumer of pork. It’s also the most heavily weighted foodstuff in the country’s CPI basket.

The government even has a lever to control this important economic factor. It has been known to dip into frozen pork reserves to stoke supply and rein in prices. That’s one way to combat porkflation, though China has the opposite problem at the moment.

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Hollywood actors reach tentative deal with studios

Hollywood actors and major studios have reached a tentative deal to end the second of two strikes that have hit the entertainment industry.

The negotiating committee of the SAG-AFTRA union unanimously backed a three-year contract, which includes increases in minimum salaries and a new bonus paid by streaming services. It also protects against the unauthorized use of AI-generated images, which some actors worried could replace them with ‘digital doubles’.

As well as AI, actors and cast members were also concerned about dwindling pay. They argued that streaming made it hard for some to earn a living wage because it doesn’t offer the same residual payments as broadcast TV.

The end of the strike means Hollywood can return to full production for the first time since May.

The content we're consuming today

• Barron’s: Picasso’s ‘Woman with a watch’ sells for $139 million at auction

• Dexterto: Omegle has officially shut down after 14 years on the internet

• NY Times: How to hijack a quarter of a million dollars in rare Japanese Kit Kats

Off-balance sheet items

• Build your personal brand with these seven content types.

The bottom line