Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Stephen Carroll. US President Donald Trump has dismissed threats of retaliation from the European Union over his desire for control of Greenland. Over the weekend, Trump announced tariffs on goods from eight European countries unless he secured a deal to purchase the Arctic Territory.
When asked whether those levies could trigger the EU to break US investment pledges agreed last summer, here's what the President responded.
Chapter 2: What are Trump's recent threats to the European Union regarding Greenland?
I doubt it. Look, they need that agreement very badly with us. They really do. They fought very hard to get it. So I doubt that. But we'll see what happens. We have a lot of meetings scheduled on Greenland.
Trump was also asked how far he was willing to go to secure Greenland. His response, quote, you'll find out. The US president's move to strong-arm Europe into a Greenland deal is likely to dominate his appearance at the World Economic Forum in Davos later. In his address to the event, French President Emmanuel Macron accused Trump of trying to subordinate the EU.
Without collective governance, cooperation gives way to relentless competition. Competition from the United States of America, through trade agreements that undermine our export interests, demand maximum concessions, and openly aim to weaken and subordinate Europe.
Macron spoke after Trump threatened France with a 200% tariff on its wines if Macron didn't join his so-called Board of Peace for Gaza. Meanwhile, Greenland's prime minister said the Arctic island's population and authorities need to start preparing for a possible military invasion, even if it remains an unlikely scenario.
President Trump's arrival in Switzerland has been delayed after Air Force One was forced to turn back shortly after departure. The White House said the plane encountered a minor electrical issue which led it to return to base. Trump is now heading to Europe on a replacement plane. He's currently still expected to deliver his address in Davos at 2.30pm local time.
Canada's Prime Minister Mark Carney says countries have a choice to band together or be on the menu. At Davos, the former central banker said countries need to cooperate to counter the breakdown of the international rules-based order.
We know the old order is not coming back. We shouldn't mourn it. Nostalgia is not a strategy. But we believe that from the fracture, we can build something bigger, better, stronger, more just. This is the task of the middle powers, the countries that have the most to lose from a world of fortresses and the most to gain from genuine cooperation.
Mark Carney received a standing ovation for that speech at the World Economic Forum. While he didn't mention President Trump by name, he took aim at the US President's pressure tactics and defended Greenland. Canada is overwhelmingly reliant on trade with the United States, but last week signed a deal with Canada. Some breaking news this hour.
UK inflation accelerated for the first time in five months in December. Consumer prices rose by 3.4% from a year earlier, up from 3.2% pace the previous month. It was slightly higher than the 3.3% predicted by economists. However, the pickup is expected to be temporary, with government measures set to dampen price pressures in the spring.
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Chapter 3: How did Macron respond to Trump's tariffs and pressure tactics?
So Giramotti was speaking as a worsening crisis over Greenland drove gold and platinum to fresh records, with silver also near its all-time peak. Tensions between Elon Musk and Ryanair CEO Michael O'Leary have spilled into a second week. Now the world's richest man is considering buying the Irish airline. Bloomberg's Tiwa Adebayo has more.
It's an unlikely crossover. One builds rockets, the other sells nine-euro flights in an entirely different orbit. But it seems Michael O'Leary and Elon Musk are on a collision course. The online feud reached new altitudes after O'Leary claimed he wouldn't install the Tesla CEO's Starlink technology on his fleet of planes last week.
Since then, the two leaders have exchanged insults on X, culminating in a poll posted to Musk's account on Monday asking followers if he should buy Ryanair. The prospect spooked investors on both sides. Ryanair sales declined in Dublin trading, while shares in Tesla also closed lower.
And any Musk takeover would require him to work around current EU regulations, which require European airlines to be majority owned and controlled by EU nationals. In London, Tiwa Adebayo, Bloomberg Radio.
Well, those are your top stories on the markets. Eurostox 50 futures have just turned positive, now up a tenth of 1%. Wall Street futures also pointing higher after the big sell-off that we saw yesterday. 10-year Treasury yields down two basis points at 4.28%. Gold prices up 1.6% to $4,839 an ounce, but slightly off the peaks it reached earlier in the session.
And we're watching Japanese government bond yields coming down, down 15 basis points on the 30-year to 3.71%. That's news when you want it with Bloomberg News Now. I'm Stephen Carroll and this is Bloomberg.
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