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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Dan Schwartzman. President Trump convened his Gaza Board of Peace this morning for the first time with representatives from more than 40 countries and observers from a dozen more. Trump says nine members agreed to pledge $7 billion for the Gaza relief package, while the U.S. will donate $10 billion.
Trump talked about possible peace in the region.
For years, you've been hearing about peace in the Middle East and everybody who's saying it's impossible. All of these countries are working together around the vision of a Middle East that is free from the curse of extremism and terror.
The president also says Hamas will be harshly met if they don't give up weapons. Meanwhile, the U.S. is deploying a huge force in the Middle East to put pressure on Iran, including two aircraft carriers, fighter jets and refueling tankers, giving President Trump the option for a major attack against the Islamic Republic. Trump discussed the nuclear talks.
Good talks are being had. It's proven to be over the years not easy to... make a meaningful deal with her. And we have to make a meaningful deal. Otherwise, bad things happen. But we have to make a meaningful deal.
That's President Trump speaking in Washington. Disgraced former Prince Andrew, the brother of the U.K. 's King Charles III, was arrested on suspicion of misconduct in public office after further details emerged about his relationship with convicted sex offender Jeffrey Epstein. Bloomberg's Tiwa Adebayo talked about the fall of the former prince.
Andrew Mountbatten-Windsor is a member of the royal family in terms of lineage, but officially he was stripped of his royal titles back in October 2025. Again, that is not an action with historical precedence. There were even legal questions raised here in the UK about removing a title like that granted at birth. And he has been the subject of a lengthy fall from grace.
It was also in October last year that King Charles asked him to move out of the Royal Lodge. That's the home that he shared with his ex-wife, the former Duchess of York, Sarah Ferguson, since 2003.
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Chapter 2: What are the key commitments made for Gaza relief?
Bloomberg's Tiwa Adebayo in London. King Charles III has also issued a statement confirming the investigation. He says the law must take its course and the authorities will have the royal family's full support and cooperation.
Federal Reserve Bank of Minneapolis President Neil Kashkari says recent comments by National Economic Council Director Kevin Hassett, which were critical of a New York Fed study on tariffs, undermines the central bank's independence.
Over the last year, we've seen multiple attempts to try to compromise the Fed's independence, including in December when the Department of Justice served a subpoena to the Board of Governors over some building expenses. It's really about monetary policy, that we are doing our very best to make the best assessment of the economy based on data and analysis.
That's Federal Reserve Bank of Minneapolis President Neil Kashkari. Hassett had called the study, which showed U.S. companies were bearing most of the burden from President Trump's tariff hikes, an embarrassment. Amazon officially dethroning Walmart as the biggest global company by revenue. The e-commerce giant reported 2,025 sales of $717 billion, while Walmart reported sales of $713.2 billion.
Amazon's growth rests largely on the importance of its cloud computing business, Amazon Web Services, which contributed to its revenue dominance. Amazon's revenue has increased at almost 10 times the pace of Walmart's, fueled by a shift in consumer spending from stores to websites, as well as the cloud computing business. Despite all the Trump tariffs, the U.S.
trade deficit widened in December to $70.3 billion, resulting in a full-year deficit of just over $900 billion, one of the largest in data back to 1960. The trade data was notably volatile in 2025 due to persistent tariff announcements from President Trump.
According to Labor Department data, applications for unemployment benefits fell by 23,000 to 206,000 in the week ended February 14th, adding to evidence of stabilization in the labor market. The number was lower than all but one estimate in a Bloomberg survey. We check markets all day long here at Bloomberg. Heightened geopolitical worries are sending stocks lower.
The Dow down around two-thirds of a percent. S&P 500 is down over four-tenths of a percent, while the Nasdaq has also lost around four-tenths of one percent. The 10-year yield is at 4.08, the two-year at 3.46. Gold is hovering at right around $5,000 an ounce, while Bitcoin is right around $66,500.
Steve Cohen, the owner of the New York Mets, tops Bloomberg's annual list of the world's best-paid hedge fund managers, bringing in $3.4 billion, or more than $9 million per day. Cohen's hedge fund, .72 Asset Management, manages $45.7 billion in assets and has been growing rapidly, adding 12 offices and more than doubling its global staff to 3,000.
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