Los Angeles Considers Microdrama Subsidies as Mexico Halts Oil Shipments to Cuba
Los Angeles is exploring a $5 million subsidy for microdrama production, while Mexico has paused oil shipments to Cuba, according to recent reports. The Los Angeles City Council voted 14-0 on Wednesday to direct city staff to find public or private funding sources to support the production of short-form vertical videos, known as microdramas, which have seen a surge in popularity, Variety reported. Meanwhile, Mexican President Claudia Sheinbaum stated Tuesday that her government has temporarily stopped oil shipments to Cuba, according to the Associated Press.
The Los Angeles subsidy aims to support microdramas, many of which do not meet the requirements for existing film and television tax credits. The city council is seeking to capitalize on the growing popularity of these short-form videos.
In other news, Mexico's decision to pause oil shipments to Cuba was described by President Sheinbaum as a "sovereign decision" and part of general fluctuations in oil supplies, according to NPR. Sheinbaum addressed inquiries about whether the state oil company Pemex had cut shipments, adding that the decision was not made under pressure from the United States.
On a separate note, Tesla's profits slumped 46% last year, as it lost its position as the top electric vehicle seller, NPR reported Wednesday. While the profit drop was anticipated by analysts, it highlights challenges for the company despite growth in other sectors like energy storage.
Additionally, President Trump's National Guard deployments could cost over $1.1 billion this year if domestic deployments remain in place, according to data released by the nonpartisan Congressional Budget Office, NPR reported. During his second term, Trump sent troops to six Democratic-led cities in an effort to suppress protests, tackle crime or protect federal buildings and personnel. Half of those mobilizations ended this month.
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