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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 Amy Morris. Paramount's guidance made enhancements to its hostile offer for Warner Brothers Discovery to woo shareholders to its bid over a rival Netflix bid. Paramount will cover the termination fee Warner Brothers would have to pay to Netflix and will backstop a Warner Brothers debt refinancing and pay associated fees if necessary.
Geetha Raghunathan with Bloomberg Intelligence says they stopped short of raising the offer itself.
I don't know though if this will necessarily... fly with the Warner Brothers Discovery Board. I think this is just Paramount exhausting all of its options before they actually raise the bid. But in my mind, what this signals is that they are willing to kind of go back to the table and probably raise that bid
Paramount's proxy bid expires February 20th. The FBI says back in 2006, Donald Trump talked with Palm Beach police about Jeffrey Epstein's inappropriate activities with teenage girls.
The Miami Herald reports in July of that year, as Epstein's criminal sex charge became known to the public, Trump spoke with Michael Ryder, the Palm Beach, Florida, chief of police at the time about what Epstein was up to. The information contradicts what Trump has publicly said about Epstein's crimes and when he knew about them. CBS reports the White House did not comment.
A DOJ spokesman said that they aren't aware of any cooperating evidence that the president contacted law enforcement 20 years ago. Commerce Secretary Howard Ludnick says he found about 10 emails connecting him with Epstein over a 14-year period after he searched through the files released by the Justice Department from its Epstein investigation.
There may be 10 emails. connecting me with him over a 14-year period. I did not have any relationship with him. I barely had anything to do with that person.
Lutnick also says he did visit Jeffrey Epstein's private island. He says that happened in 2012 when he was with his wife and children, years after he said he had cut off ties with Epstein. Democratic Senator Chris Van Hollen.
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Chapter 2: What recent offer did Paramount make to Warner Brothers Discovery?
Lutnick is facing calls to resign over his relationship with Epstein, which recent files show was more extensive than he previously revealed. A day after Labour's Scottish leader, Anas Sarwar, asked for him to resign, UK Prime Minister Keir Starmer says his main battle is with Nigel Farage's Reform UK, not divisions within the Labour Party.
Starmer pledged to never walk away from the mandate to change the country. He's trying to draw a line under internal strife within labor that saw his chief of staff and communications chief both quit within 24 hours of each other. The leaders of three major immigration agencies, ICE, Customs and Border Protection, and U.S.
Citizenship and Immigration Services, testified today before the House Homeland Security Committee on the Trump administration's immigration crackdown. ICE Acting Director Todd Lyon says agents have come under attack for enforcing the laws that Congress enacted.
We are facing the deadliest operating environment in our agency's history.
Chapter 3: What implications does Paramount's offer have for Warner Brothers' debt refinancing?
In fiscal year 2025, death threats against ICE personnel increased more than 8,000 percent. Assaults on officers have skyrocketed over 1,400 percent.
The committee's ranking member, Democrat Benny Thompson, says the crackdown has caused chaos.
They are reckless, terrorizing adults and children alike, and undermining our moral authority as a nation of liberty and rule of law.
Democrats have said they will not support any more funding for the Department of Homeland Security unless it imposes new limits on federal immigration agents. The deadline for those talks is Friday. Goldman Sachs CEO David Solomon says last week's steep drop in software stocks because of concerns about AI competition was likely overdone.
We have software exposure, but I'd say it's insignificant in the scale of our overall platform, but it's certainly something that we're monitoring. I think the narrative over the last week has been a little bit too broad. There'll be winners and losers, and plenty of companies pivot and do just fine.
Solomon also said the economy is likely to see strong growth this year. He spoke at the UBS conference. Wall Street is aiming for new records after a flat reading on retail sales for December, raising bets that the Fed will cut interest rates this year. Stuart Paul is an economist for Bloomberg Economics.
Consumers are already stretched in with about a 3.5% personal savings rate. It's just really difficult for me to see a consumer-driven expansion this year.
Bloomberg U.S. economist Stuart Paul and a new report from the New York Fed shows delinquency rates on mortgages, credit cards and other loans rose 4.8 percent at the end of last year, the highest in almost a decade. Weaker than estimated retail sales, reinforcing the case for the Fed to cut rates. causing bond yields to fall. Traders left stocks near all-time highs.
We do check markets for you all day long here at Bloomberg. The S&P 500 up a tenth of a percent. NASDAQ's flat. The Dow up a half percent. Ten-year Treasury yield at 4.14 percent. The two-year yield at 3.44 percent. Checking Bitcoin, it is down 1.3 percent, around $69,400.
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Chapter 4: What new revelations have emerged about Donald Trump's interactions with Jeffrey Epstein?
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.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
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