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 10 trillion pounds in capital. Four of the world's top universities. A 10-year industrial strategy in action. It's 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. Tonight, President Trump delivered his first State of the Union for his second term.
Today, our border is secure. Our spirit is restored. Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before. And our enemies are scared. Our military and police are stacked. And America is respected again, perhaps like never before.
Trump's address comes days after the Supreme Court overturned his use of emergency tariffs. Here's Trump addressing the court's decision.
So despite the disappointing ruling, these powerful country saving, it's saving our country, the kind of money we're taking in, peace protecting, many of the wars I settled was because of the threat of tariffs. I wouldn't have been able to settle them without, will remain in place under fully approved and tested alternative legal statutes. and they have been tested for a long time.
They're a little more complex, but they're actually probably better, leading to a solution that will be even stronger than before. Congressional action will not be necessary. It's already time-tested and approved.
Trump also used the address to tout his agenda and shape the Republican Party's messaging on affordability ahead of this year's midterm elections. Warner Bros. Discovery says a new takeover offer from Paramount Skydance is expected to lead to a better deal than Warner's existing agreement with Netflix. Paramount's revised bid is worth $31 per share cash.
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Chapter 2: What key points did Trump make in his State of the Union address?
Now, Warner's board made the determination after a seven-day period in which Paramount was allowed to once again negotiate. Here is Bloomberg's Chris Palmieri.
The Warner Brothers board is not completely convinced that they're there. They maybe think they can get a little bit more out of Paramount. It certainly seems that way. This is an extraordinary offer here. Paramount's not only raised the price $31 a share, they raised the termination fee.
If they don't get their deal done due to regulatory concerns, they're also agreeing to pay $2.8 billion to Netflix to get them out of that deal. So it's just a real indicator of how much Paramount wants this.
That is Bloomberg's Chris Palmieri. Now, Warner's board has not withdrawn its recommendation to shareholders to support the agreement with Netflix. That deal, by the way, at $27.75 a share, would pay for Warner's studio and HBO operation. Instead, Warner's board is saying the latest terms from Paramount meet the threshold for further talks, including with Netflix.
The Pentagon and Anthropic are in a standoff. Defense Secretary Pete Hegseth has given Anthropic until Friday to open its AI technology for unrestricted military use or risk losing its government contract. Now, Reuters is reporting Anthropic has no plans to ease limits on military usage. Gregory Allen is with the Wawandi AI Center. He says this dispute comes at an awkward time.
The user base within the Department of Defense loves Anthropic, loves Claude, and says that their restrictions on usage, at least from the conversations that I have been having, have never been triggered. There has never been a time where Anthropic said no.
You can hear more with Greg Allen on the Bloomberg Balance of Power podcast. A senior U.S. Senator has opened an inquiry into crypto exchange Binance Holdings.
Richard Blumenthal is the top Democrat on the Permanent Subcommittee on Investigations, and he's responding to reports on Binance's involvement in funneling nearly $2 billion to Iranian government groups designated as terrorist organizations. The Trump administration is reportedly discussing an executive order to force banks to collect citizenship data on customers.
The Wall Street Journal reports the potential move could apply not only to new customers, but existing account holders as well. The U.S. House of Representatives has voted down the Rotor Act.
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Chapter 3: How did Trump's address respond to the Supreme Court's decision on tariffs?
Supporters said the bipartisan bill would have improved aviation safety. This legislation came in response to a mid-air collision that happened last year near Washington, D.C. The bill was unanimously passed by the Senate in December. However, earlier this week, the Department of Defense withdrew its support for the measure over national security and budget concerns.
Tomorrow after the bell, we'll get earnings from AI bellwether NVIDIA.
We have a preview aggressive spending plans over the last few weeks, but investors are eager to hear about additional ways for NVIDIA to grow, including planned chip sales in China. Bloomberg Consensus calls for revenue of $65.91 billion on adjusted earnings per share of $1.53. Tom Busby, Bloomberg Radio.
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.
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.
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