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 Doug Krisner. In Washington, the Republican-led U.S. House has passed legislation aimed at ending President Trump's tariffs on Canada. Now, this signals a growing anxiety over the White House's economic agenda ahead of midterm elections focused heavily on affordability.
Passage by the House is not veto proof, meaning the vote was largely symbolic and a way to get lawmakers on the record for their support of these tariffs on Canadian goods. Here is Bloomberg's Derek Wolbank.
These votes sort of represent an increase in political pressure on the president to change course just months before the midterm elections. They also, though, represent a big difficulty for some swing district Republicans whose districts may be heavily affected by tariffs consequences.
but who have to face a very real question about whether or not they want to cross the president on his signature issue.
That is Bloomberg's Derek Walbank. Now, passage of this measure comes as President Trump privately weighs quitting the U.S.-Mexico-Canada trade pact he signed during his first term. Attorney General Pam Bondi was in the hot seat today before the House Judiciary Committee, and she was reprimanded by Democrats for using the DOJ to target enemies of President Trump.
Bondi was also criticized for her handling of the Epstein files, including the many redactions made. Here is an exchange between Bondi and New York Congressman Jerry Nadler.
How many perpetrators are you even investigating?
First, you showed it. How many have you indicted? Excuse me. I'm going to answer the question.
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Chapter 2: What legislation did the House pass regarding tariffs on Canada?
Trump said he spoke about his intention to press ahead on talks with Iran. Trump also said his preference was to reach a deal with the Islamic Republic despite reservations from the Israeli leader. Netanyahu is pushing for limits on Iran's ballistic missile program and its support for militant groups. Here is Bloomberg's Catherine Lucey.
It's clear from the president that he is saying that this was a good meeting, but that he wants to continue talks to see if he can reach some kind of deal with Iran. And I think we know from talking to folks around the prime minister and from our reporting there that there is concern on that side about what such a deal could look like.
And that's, I think, certainly part of the reason he was here. There's concern about what kind of deal President Trump might agree to, what the scope of that would be. But clearly nothing decided today.
That is Bloomberg's Catherine Lucey. Meantime, the Pentagon has reportedly told a second aircraft carrier strike group to prepare to deploy to the Middle East as the U.S. readies for a potential attack on Iran. The Wall Street Journal reports President Trump was weighing a second carrier strike if negotiations were to fail.
Now, the deployment of a second carrier would mark the first time there have been two carriers in the region. in nearly a year. We move to business news next. After the Bell Cisco Systems reported quarterly results above estimates, however, the company gave a weaker-than-expected forecast for profitability in the current quarter. Here is Bloomberg analyst Wu-Chen Ho.
First of all, is the gross margin results and the EPS guide, right? You're not getting the EPS bump relative to the revenue growth. So what it tells me is that the DRAM price spikes are, or the component issues are also continuing to hit Cisco.
That is Bloomberg analyst Wu Jin-ho. Shares in Cisco down by more than 7% in late U.S. trading. McDonald's reported U.S. sales grew at the fastest pace in more than two years during the fourth quarter.
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Chapter 3: How are midterm elections influencing tariff legislation decisions?
Value meals continue to resonate with cost-conscious diners. And we got reaction from Abby Roach at All Spring Global Investments.
I'd say they're doing a couple of things while they're leaning into the value for consumers who are seeking that out and who are really feeling stretched. They've got different offerings across different price points, across $5, $8, being able to add things on for a dollar. So they're really focused there.
but also they're not letting their foot off the gas in terms of the marketing and the innovation.
Abby Roach from All Spring Global Investment. Shares in McDonald's were down just two-tenths of one percent in late U.S. trading. The star of the popular 90s teen drama series Dawson Creek has died. The family of James Van Der Beek announced his death on Instagram. In 2024, Van Der Beek revealed he was being treated for colorectal cancer. James Van Der Beek was 48.
And that is news when you want it. With Bloomberg News Now, I'm Doug Krisner, and this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth.
Visit business.gov.uk slash growth. Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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Chapter 4: What criticisms did Attorney General Pam Bondi face during her hearing?
And it fits into your morning.
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