the united states and around the world, i m christine romans. we begin with breaking news on what s now the second biggest bank failure in u.s. history. most of first republic bank is now being bought by jpmorgan chase in a deal arranged by the federal deposit insurance corporation. the fdic. cnn s clare sebastian live in london for us. clare, this deal announced just a short time ago. all weekend, we ve been waiting for word what would happen to first republic. we knew it couldn t continue as a concern here. fdic would have to step in. and you went to bed thinkiing first republic is your bank, it s now jpmorgan chase, right? yeah, christine, all 84 branches of first republic will reopen this morning as branches of jpmorgan. this is different than silicon valley bank which was taken by regulators and stayed there for more than two weeks. this happenmuch more quickly over the weekend with that auction held on sunday. several banks bid it. it seems they reached that deal with
tank standoff. who will blink first over sending crucial fire power to ukraine. former ambassador nikki haley says it s time for a new generation to lead. guess who she has in mind for 2024? good morning. welcome to our viewers in the united states and around the world. happy friday, everybody. i m christine romans. president biden saying he has no regrets over the way the white house handled the discovery of classified documents at his private think tank office and delaware home. as we found we found a handful of documents were failed were filed in the wrong place. we immediately turned them over to the archives and the justice department. we re fully cooperating, looking forward to getting this resolved quickly. the president s first remarks in a week on the classified document discovery. cnn s jasmine wright live in washington this friday morning for us. jasmine, mr. biden spent about 30 seconds addressing the documents, the very end of the comments on storm re
they would have if it was on broadcast. so, a number of things along those lines. and then the other thing to keep an eye on is negotiations over whether generated ai can be used in the future, as source material. or to generate scripts that would be shot in hollywood. yeah. it is fascinating how much the landscape has changed, right? since the last strike in 2007, netflix was still mailing dvds in little red envelopes. and we just didn t have a streaming service to speak of. you write in your piece that the appeal of ai to hollywood in particular to replace writers is obvious. how threaten is the ai revolution to writers then? pretty threatening. i mean, the challenge here is you think about it, and you say, oh, well, of course, i want to watch something that a human wrote. not something that a machine kind of regurgitated, right. the truth is a lot that powers hollywood is pretty repetitive.
released ad tier. the subscription service of $6.99 a month and whether that will attract new subscribers or whether the existing subscribers might sort of scale back into the lower price offering. it s amazing. when we look at netflix, it was founded in 97 as a video rental business. basically helped put blockbuster out of business mailing out dvds in little red envelopes. now a quarter century later what is the legacy of reed hastings, you called him a legacy. you can t overstate his legacy. he has changed how we ve watched movies and tv and he s changed the face of werehollywood. they talkeding about this is early days. as much as this seems like this is part of our lives, still many people have sort of to switch from legacy tv into the streaming business. there s still room for growth, they said, in this industry. claire, nice to see you. thank you so much. we ll watch that stock today. to sports now.