Caroline Hepker

News when you want it with Bloomberg News Now.

I'm Caroline Hepker.

One year after US Vice President J.D.

Vance issued a warning to Europe at the Munich Security Conference, the message from America has been softened slightly.

US Secretary of State Marco Rubio told the same event that Europe and America's destinies are intertwined.

In an interview with Bloomberg, Rubio stressed the ties between the allies.

The US Secretary of State speaking to Bloomberg's Editor-in-Chief John Micklethwaite at the Munich Security Conference.

But Rubio also doubled down on parts of Vance's message from a year earlier attacking Europe's climate and migration policies as well as cultural values.

Rubio will now travel to Hungary where he'll meet Prime Minister Viktor Orban, a European leader who has also been fiercely critical of EU policies on issues including Ukraine.

ECB President Christine Lagarde is pushing back against taxes to stop capital outflows from Europe.

Also speaking at the Munich Security Conference, she said that Europe should focus on creating incentives for investments instead.

Lagarde also said that she expects some progress this year towards the EU's planned Savings and Investments Union after a special summit last week on competitiveness.

In deals news, Warner Brothers is considering reopening sales talks with Paramount Skydance after receiving its amended offer.

Bloomberg understands that members of the studio's board are discussing whether Paramount could offer a path to a better deal.

It's a move that could ignite a second bidding war with Netflix, according to people familiar with the firm's thinking.

Bloomberg's Tony Tuchka says the situation is evidence of Paramount's confidence amidst the battle.

Our Washington-based editor, Tony Tuchka, speaking there.

Sources tell Bloomberg the board hasn't decided how to respond and still has a binding agreement with Netflix.

Paramount's amended terms address several concerns, including a promise to cover the $2.8 billion fee owed to Netflix if Warner Brothers terminates their agreement as well.

And to the Winter Olympics in Italy now, where Great Britain took their record gold medal tally to three over the weekend.