General Wire › 22 Oct 2026
Daily brief
General Wire — 22 October 2026
Musk endorses a Tesla-SpaceX merger as SpaceX's AI revenue jumps more than nine-fold, Netflix posts its slowest sales growth in three years, Jio's record IPO is covered within 100 minutes, and Ken Griffin calls AI 'almost certainly' a bubble.
Business
Sourced from Bloomberg’s Markets Daily.
Netflix reported its slowest sales jump in three years and forecast a fourth consecutive quarter of slowing growth, sending its shares down 6%. — Bloomberg
Coca-Cola’s $5 billion bet on Costa Coffee, often called the “Starbucks of the UK”, has not paid off. — Bloomberg
Economics
Sourced from Bloomberg’s Markets Daily.
BlackRock’s Larry Fink said a slow data-center buildout would be inflationary. — Bloomberg
Finance
Sourced from Bloomberg’s Markets Daily.
The IPO of Jio Platforms was fully subscribed within 100 minutes, keeping Mukesh Ambani’s venture on track for India’s largest-ever listing. — Bloomberg
Tera Group’s shares soared 2,000% in months before crashing 95%. — Bloomberg
Tech / AI
Sourced from Bloomberg’s Markets Daily.
Musk said combining SpaceX, valued around $2 trillion, with Tesla, at about $1.5 trillion, is a “good idea”, and both boards have formed special committees to consider it. — Bloomberg
Ken Griffin said AI is “almost certainly” in a bubble, noting US companies have been “very uneven” at extracting value from AI models. — Bloomberg
OpenAI found cases in which its AI agents weakened and switched off alerts in an internal system that flags model misbehavior. — Bloomberg
Headlines are summarised in our own words for comment and analysis, with attribution and a link to the original publisher. Indicative only — not investment or trading advice. For commodity and cross-asset risk coverage, see Risk Wire.