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Good morning from the newsroom of the Financial Times.

Today is Thursday, July 18th, and this is your FT news briefing.

Netflix falls short of its goal for new subscribers,

and G7 Nations struggle to reach a compromise

when it comes to a big tech tax. Plus the US officially expels Turkey from a

decades old fighter jet program.

And why a drop in U.S. railway stocks could signal a slowing U.S. economy.

I'm Mark Filipino, and here's the news you need to start your day.

It turns out that people are only willing to pay so much to watch Stranger Things.

Netflix released its second quarter earnings results. so much to watch Stranger Things.

Netflix released its second quarter earnings results on Wednesday.

The streaming service said it fell far short of its own forecasts for subscriber growth.

Netflix added 2.7 million subscribers globally in the three months ending in June.

That's well below its outlook for 5 million editions and Wall Street's prediction of 5.1 million.

And in the US, Netflix lost subscribers for the first time since

2011. A total of 130,000 customers ditched the service. This was after Netflix raised prices for Americans to $13 a month.

That's a dollar higher than rival Hulu.

Netflix shares fell as much as 12% in after hours trading.

How much tax should tech companies such as Google and Facebook pay?

That's one looming question finance ministers. such as Google and Facebook pay.

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