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 Stephen Carroll.
And I'm Caroline Hepker.
The fallout is growing following Friday's release of around three million pages of material related to the convicted sex offender Jeffrey Epstein. Britain's former ambassador to the United States, Peter Mandelson, has resigned his Labour Party membership over his links to the disgraced financier.
Mandelson said that he took the decision to avoid further embarrassment after documents revealed that payments totalling Ā£75,000 were made by Epstein to him and his partner in 2003. The documents also show that in 2009, Mandelson attempted to prevent the UK from introducing a tax on bankers' bonuses following a request from Epstein.
Mandelson, who remains a peer in the House of Lords, says he believes the allegations of financial payments to him by Epstein are false and need investigating by him.
Among the material are images appearing to show former British Prince Andrew Mountbatten-Windsor kneeling over a woman. UK Cabinet Minister Steve Reid says that the former prince should now testify before the US Congress about his relationship with Jeffrey Epstein.
The principle here is very, very clear. If Andrew Mountbatten-Windsor clearly has insight into what was going on and he should testify because the victims deserve and need him and anybody else who may have witnessed things to do that.
Steve Reid was speaking as UK Prime Minister Keir Starmer also called on Prince Andrew to testify. The growing pressure comes as the wider document release reveals fresh insights into the rich and well-connected figures who circulated in the orbit of the late king. disgraced financier.
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Chapter 2: What are the key revelations from the Jeffrey Epstein document release?
In a broadcast on state television yesterday, Ayatollah Ali Khamenei said the Iranian people will strike back forcefully against anyone who wants to attack or cause harm. Speaking to reporters in Florida over the weekend, the US president said his forces are ready to act.
We have the biggest, most powerful ships in the world over there. Very close. A couple of days. And hopefully we'll make a deal. If we don't make a deal, then we'll find out whether or not he was right.
President Trump also said he's hopeful that Iran and the US will reach a deal.
Chapter 3: How did Peter Mandelson respond to allegations related to Epstein?
Oil prices have plunged, however, after Trump disclosed talks between Washington and Iran and geopolitical risk premiums faded.
British engine maker Rolls-Royce has halted its plans to put a nuclear reactor on the moon by the end of the decade. The Telegraph reports that the UK government-backed programme is at a standstill due to a lack of potential partners. Bloomberg's Freddie Fulston has more.
Could nuclear power be used to support a moon base for astronauts? Backed by millions in government funding, Rolls-Royce had been looking to answer that question. However, the UK firm said that for now at least there are no current contracts in place to progress the project. By contrast, NASA in the US is accelerating plans to develop nuclear power on the moon.
In London, Freddie Fulston, Bloomberg Radio.
And those are our top stories for you this morning. Looking at the markets, we have a major sell-off for some of the asset classes that did so well in January. Gold at the moment slumping 7.3%. Silver is also declining very strongly. The Bloomberg Dollar Spot Index is up by 0.2% this after the announcement of Kevin Walsh as President Trump's pick to lead the Fed.
Richard Clarida over at PIMCO saying that Walsh brings intriguing ideas online. on ways to change and potentially improve how the Fed operates. In terms of other risk sentiment worsening, Bitcoin briefly sliding below $75,000. Currently, we're just above that level. This as we've also seen the concerns around tech names. Nasdaq stock futures are currently down 1.7%.
US stocks 50 futures also slumping 1% right now.
That's news when you want it with Bloomberg News Now. I'm Stephen Carroll.
I'm Caroline Hepka and this is Bloomberg.
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Chapter 4: What insights do the Epstein documents reveal about Prince Andrew?
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