UPDATE: UK GDP Shrinks, Fossil Fuels Climate Deal & Netflix Reveals All

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The UK economy shrank more than expected in October as elevated borrowing costs and wet weather took their toll, setting the stage for another quarter of stagnation that is widely forecast to persist through 2024. (2) The COP28 climate talks in Dubai ended in a deal that saw a commitment to transition away from all fossil fuels for the first time. (3) Germany’s ruling alliance has sealed an agreement on a revised 2024 finance plan, pushing past internal divisions laid bare after a critical funding tool was struck down by the nation’s top court. (4) Argentina devalued the peso by 54%, overhauled its crawling peg and announced massive spending cuts to eliminate its primary fiscal deficit next year as the first steps in President Javier Milei's shock-therapy program. (5) Netflix has released global midyear viewer data for every title on its service for the first time. The political thriller The Night Agent was the most-watched title globally in the first half of 2023, generating 812.1 million hours of viewing. See omnystudio.com/listener for privacy information.