Caroline Hepker

Sundar Pichai speaking there.

As the Google parent said that capital expenditure could come close to $185 billion this year, compared with almost $120 billion that analysts had expected, Alphabet's shares fluctuated in extended trading following the publication of the earnings.

Here in the UK, the Prime Minister is facing a growing backlash from his own party as revelations over Peter Mandelson's relationship with Jeffrey Epstein threaten to further damage his already embattled premiership.

MPs voted to require the government to disclose all documents related to Mandelson's appointment as US ambassador by Keir Starmer.

Publication of the vetting files threatens to create another dangerous moment for Starmer, who's already...

widely considered vulnerable to a leadership challenge, given Labour's dire standing in the polls and his own record disapproval rating.

Speaking during Prime Minister's questions on Wednesday, Salma was in damage limitation mode as he accused Mandelson of betrayal and said that he regrets appointing him.

Keir Starmer speaking there as he was also forced to acknowledge that the material used to vet Mandelson did contain details of Mandelson's dealings with Epstein.

And in further earnings news, BNP Paribas has announced an expectation-beating set of results for the fourth quarter.

The French bank delivered net income of €2.97 billion in the last three months of 2025.

That was well ahead of the analysts' estimates of €2.86 billion.

BNP also raised its 2028 profitability target to a return on tangible equity above 13% and it sharpened its goal.

for the cost-income ratio.

Meanwhile, the European Central Bank is also likely to keep interest rates on hold for a fifth consecutive meeting.

That's despite geopolitical tensions and a stronger euro.

All economists surveyed by Bloomberg expect the deposit rate to be kept at 2% at today's meeting.

Investors and analysts see rates staying there until the end of next year, with the chances of a hike in 2026 receding.

That's news when you want it with Bloomberg News Now.

I'm Caroline Hepker.

And I'm Caroline Hepker.