New Zealand Parliament to Debate Ban on Teen Social Media Use

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New Zealand lawmakers are preparing to debate a bill that would restrict social media access for children under 16, marking a major step in the country’s push to address online harms among young people. The proposal, introduced by National Party MP Catherine Wedd, would require social media platforms to implement age verification systems similar to Australia’s pioneering legislation passed in 2024.

The bill, first submitted in May, was selected on Thursday for parliamentary consideration through the country’s ceremonial ballot process for members’ bills. While it has backing from the ruling National Party, coalition partners have yet to confirm their support, leaving its passage uncertain.

Prime Minister Christopher Luxon has voiced growing concern about the mental health impact of social media on teenagers, citing issues such as misinformation, cyberbullying, and body image pressure. A parliamentary committee is also studying the wider effects of online harm, with a full report expected in early 2026.

Civil liberties group PILLAR has criticized the proposal, warning that mandatory age checks could endanger privacy and limit online freedoms. Executive Director Nathan Seiuli called the measure “lazy policymaking” that fails to protect children effectively.

U.S. Weighs Sweeping Curbs on Software Exports to China Amid Rare Earth Dispute

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The Trump administration is considering a sweeping new set of export restrictions targeting China’s access to U.S. software, in retaliation for Beijing’s tightening of rare earth shipments. The plan, discussed by senior officials and confirmed by multiple sources, could block exports of products ranging from laptops to jet engines that rely on U.S.-made or U.S.-designed software.

The proposal, which mirrors export controls once imposed on Russia, is part of a broader strategy to pressure China ahead of President Trump’s meeting with President Xi Jinping in South Korea later this month. While the plan remains under discussion and may not be implemented, U.S. Treasury Secretary Scott Bessent said “everything is on the table,” including coordinated measures with G7 allies.

Analysts warned the move could have far-reaching global implications, disrupting supply chains and triggering economic retaliation from Beijing. Emily Kilcrease, a former U.S. trade official, said software restrictions would be “extraordinarily difficult to implement” and could backfire on American industry.

The Chinese embassy condemned Washington’s potential actions as “unilateral and coercive,” vowing to protect China’s interests if the U.S. proceeds. U.S. markets reacted nervously to the report, with the S&P 500 closing down 0.5% and the Nasdaq falling about 1%.

Netflix Shares Drop 10% as Investors Worry Over Valuation and Growth Outlook

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Netflix shares fell more than 10% on Wednesday after the company’s fourth-quarter forecast failed to impress investors, despite a slate of blockbuster titles including the final season of Stranger Things. The decline reflects growing concern that the streaming giant’s valuation — now trading at nearly 40 times forward earnings — has become unsustainably high.

The company reported third-quarter revenue of $11.5 billion, in line with expectations, and forecast $11.96 billion for the next quarter. However, investors were left uneasy by the lack of subscriber metrics since Netflix stopped reporting them earlier this year. Analysts said the market is looking for stronger signals of growth to justify the company’s lofty market position after a 360% stock surge over the past three years.

Netflix’s advertising and gaming divisions, launched to diversify its income, have yet to become major revenue drivers. Still, the company recorded its strongest ad sales quarter ever, without disclosing figures. A $619 million tax-related charge in Brazil also dragged down profits.

Analysts at Wedbush called Netflix’s outlook “underwhelming,” while Evercore ISI suggested buying the dip, noting rival platforms Disney+ and HBO Max have raised prices — potentially giving Netflix room to do the same.