Caroline Hepker

Spain's biggest bank reporting better than expected fourth quarter net income this morning coming in at 3.76 billion euros.

The results were brought forward after Santander announced that it will pay a total consideration of $75 per share in cash and stock for Webster.

President Donald Trump has insisted that the United States and Iran are maintaining diplomatic talks even after a drone incident in the Arabian Sea, which has pushed oil prices up for a second day.

The U.S.

says that it shot down a drone in self-defense that, quote, aggressively approached the USS Abraham Lincoln with, quote, unclear intent.

Now, following this skirmish, Trump told reporters at the White House that talks with Iran are ongoing.

President Trump there as White House Press Secretary Caroline Leavitt confirmed US-Iran talks involving Middle East envoy Steve Witkoff are still scheduled for Friday.

I'm Caroline Hepka and this is Bloomberg.

And I'm Caroline Hepker.

The UK's Metropolitan Police says that it's reviewing reports that Peter Mandelson committed misconduct in public office following the latest release of Epstein files.

Documents appear to show that the former UK ambassador to the US leaked sensitive government information to the convicted sex offender while serving as a minister in Gordon Brown's Labour government.

With more, here's Bloomberg's Chris Pitt.

The British government is becoming concerned that a protectionist push being discussed by the European Union could exclude UK companies.

London is lobbying the EU against restricting market access and encouraging cooperation.

Plymouth's Huw Adebayo has the story.

Precious metals are recovering some of their losses today after plunging from record highs over the past few days.

Spot gold has climbed as much as 6% this morning after falling by close to 5% yesterday.

Silver rose more than 10%, erasing the previous day's losses before pairing gains.

Bloomberg's Brendan Fagan says that the worst of the sell-off appears to be over.

Bloomberg's Brendan Fagan was speaking after investors had been piling into gold and silver over recent weeks, driven by concerns about geopolitical upheaval, currency debasement and also threats to the Federal Reserve's independence.