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 Jumana Bersetchi. And I'm Caroline Hipke. Both the United States and Iran say talks on a nuclear deal are making progress, suggesting the chances of an imminent military clash are low. A U.S. official has told Bloomberg that Tehran's diplomats are due to return to Geneva in two weeks with a new proposal.
Iran's Foreign Minister Abbas Arrakshi says the path to a deal has started.
We are hopeful that negotiation will lead to a sustainable and negotiated solution at the same time as demonstrated during the aggression of 13 June 2025. Iran remains fully prepared to defend itself against any threat.
the Iranian foreign minister speaking in Geneva. A deal could mean the U.S. lifting tough sanctions on Iran's oil industry and wider economy. But the next steps are expected to get more difficult, with each side needing to draft a text for a deal. U.S. Vice President J.D. Vance told Fox News that the force was still an option.
You know, in some ways it went well. They agreed to meet afterwards. But in other ways, it was very clear that the president has set some red lines that the Iranians are not yet willing to actually acknowledge and work through. So we're going to keep on working it. But of course, the president reserves the ability to say when he thinks that diplomacy has reached its natural end.
We hope we don't get to that point. But if we do, that'll be the president's call.
Vance and other U.S. officials have talked up the prospect of strikes on Iran as the U.S. has moved weapons and troops to the region. Oil prices fell on the signs of progress, but Brent crude is up almost 12% this year, largely because of the U.S.-Iran tensions and the prospect of a war in the oil-rich country.
Japan is planning to invest up to $36 billion in oil, gas and critical minerals projects in the U.S. It marks the first tranche of investments worth more than $500 billion as part of the trade deal struck between the two countries.
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Chapter 2: What progress is being made in the US-Iran nuclear talks?
Japan's Prime Minister Sanae Takeuchi said the initiatives are aimed at building resilient supply chains and economic security. It comes weeks before Takeuchi is set to meet Trump in Washington.
The ECB says Christine Lagarde has not made any decision about leaving her job as president early. That follows a report from the Financial Times citing one person familiar with Lagarde's thinking, saying she wants to step down before France's presidential elections in April 2027. The statement from the ECB says the central bank chief is totally focused on her mission.
There had been speculation that Lagarde may want to exit before the end of her eight-year term in October 2027. Here's what Lagarde told Bloomberg TV in November.
I was always under the impression that it was a five-year term. And I hadn't checked. So having said yes to Macron and Merkel, I said, OK, well, I'll be in Frankfurt for five years. And at that point, Macron said... No, for eight years. But it was too late.
The ECB president there is speaking to Bloomberg's leaders with Lacroix last year. Earlier this week, we reported that European governments may choose to fast-track finding a successor for Lagarde, with having to deal with a possible far-right French president after next year's election.
Now, here in the UK, inflation dropped to its lowest level in 10 months, strengthening the case for a Bank of England interest rate cut. Consumer prices rose 3% in January from a year earlier. That is a 0.4 percentage point drop from December's figures, in line with economists' expectations. Bloomberg's Markets Today editor Sam Unstead says the print could nudge the central bank into cutting.
Core and services slightly above expectations, but still going in the right direction. So I think what you're going to get here is probably just enough now to tip the balance at the Bank of England, which is very narrow at the moment, towards certainly edging towards a cut in March. And if not, then certainly in April.
But there's probably just enough in that core and services reading to provide a little bit more to the Hawks to push back.
Sam Anstead there, noting that core CPI came in slightly higher than expected at 3.1%. It's the last inflation reading before the Bank of England's next interest rate decision in March, and it comes after data out yesterday showed unemployment figures at a five-year high.
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Chapter 3: What are the implications of a potential US-Iran deal on sanctions?
because BAE Systems is up by 5% this morning. So, that's one of the big gainers today. Also, Carrefour down by 3.8% this morning. They are targeting high single-digit earning per growth annually, but actually not well received by investors. Overall, US stocks 600 up by half of 1%. 5,100 also up four-tenths of 1%. US stock futures are also in the green.
10-year US yields at 4.07, up one and a half basis points. Germany is up a basis point at 2%. 74. Rebounding gold at $4,929. We're up by 1%. And the dollar is also stronger, a tenth of 1%. So those are the market figures today, Jumana.
That's news when you want it with Bloomberg News Now. I'm Jumana Bersetchi. I'm Caroline Hepke. 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.
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.
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