Greenland Saga Heats Up, Netflix Soft Guidance, More
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Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, head of government and economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond. Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.
News when you want it. With Bloomberg News Now, I'm Doug Krisner. The sell America trade was back in full force across U.S. financial markets today. President Trump's demand for U.S. control over Greenland stoked anxieties about potential worst case scenarios. Now, that would include a rupture in the NATO alliance or perhaps a full blown trade war between the U.S. and Europe. It was over the weekend that Trump announced a new 10 percent levy. on eight EU countries opposed to Trump's plans to seize Greenland. And today, Trump faced backlash from UK Prime Minister Keir Starmer and French President Emmanuel Macron, although Trump played down their criticism.
They always treat me well. They get a little bit rough when they're, you know, when I'm not around. But when I'm around, they treat me very nicely. And, you know, I like both of them. They're both liberal. They have two problems, immigration and energy.
President Trump speaking there. Now, as a result of Trump's threats, the European Union has effectively suspended the ratification of the trade deal reached with the U.S. last summer. Here is U.S. Trade Rep. Jameson Greer speaking on the sidelines of the World Economic Forum in Davos, Switzerland.
Europe has done nothing to implement the trade deal. Nothing. So it's actually for the EU to say, well, we're suspending it. What are they suspending? Their continued negotiations with us.
It hasn't been ratified.
Yeah, for example, when we made the trade deal with the Europeans, shortly thereafter, we modified our tariffs to be much lower.
What are the implications of Trump's Greenland ambitions?
We cut them a deal on autos that other people don't have. We cut them a deal on other products other people don't have. Europeans have not lowered a single tariff for us.
That is U.S. Trade Rep. Jameson Greer speaking on the sidelines of the World Economic Forum in Davos, Switzerland. Now, on Wednesday, President Trump is set to speak to this gathering. After the bell, Netflix delivered fourth quarter results that largely beat Wall Street estimates. However, the company issued a cautious forecast for the months ahead. Netflix also said it's planning to increase spending on films and TV shows by 10 percent this year, while at the same time moving ahead with plans to buy the studio and streaming businesses of Warner Brothers Discovery. We got reaction from David Joyce. He is senior analyst at Seaport Research Partners.
They did beat in the December quarter, but it's always about what are you going to do for me next? And while the revenue guide was a little better than expected, the margin was a little bit lighter for the guidance. So I think people are concerned that maybe the Warner Brothers discovery deal does have something to do with a long-term growth outlook that the management has that might not be as rosy as investors had. I don't think that's yet the case. I think that'll still take time to
David Joyce there from Seaport Research Partners. United Airlines Holdings beat Wall Street estimates for the fourth quarter. The carrier anticipates a strong year for 2026, driven by demand from high spending domestic passengers as well. as international passengers. Federal prosecutors have served grand jury subpoenas to officials in Minnesota and this list includes Governor Tim Walz, Attorney General Keith Ellison, as well as Minneapolis Mayor Jacob Frye. Now these subpoenas are part of an investigation into whether officials obstructed federal immigration enforcement through their public statements. Walz and Frye have been critical of federal immigration officials after the deadly shooting of Rene Good by an ICE agent in Minneapolis.
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