Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The European Union says it will respond to any tariffs the US might impose on it. The warning comes after President Trump pushed forward with his pledge to place a 25% tariff on all US steel and aluminium imports.

(2) Despite Trump's insistence that there would be 'zero exemptions'. The US President says he will "give consideration" to a carve-out for Australia. Those comments were also echoed by the country's Prime Minister Anthony Albanese, after a call between the two leaders.

(3) The growing prospect of a trade war comes as the the UK's new ambassador to the US -- Peter Mandelson -- says it's important for allies to respect Trump's electoral mandate.

(4) A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

(5) A Bank of England voting member who backed an outsized interest rate cut last week sees companies struggling to raise prices as consumers pull back on spending.

(6) Europe is teetering on the edge of its next energy crisis after natural gas prices soared to the highest in two years.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

(2) President Donald Trump has agreed to consider an exemption for Australia from US tariffs on steel and aluminum following a telephone call with Prime Minister Anthony Albanese, even after he initially said there would be no exceptions from the imposts.

(3) The growing prospect of a trade war comes as the the UK's new ambassador to the US -- Peter Mandelson -- says it's important for allies to respect Trump's electoral mandate.

(4) A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

(5) A Bank of England voting member who backed an outsized interest rate cut last week sees companies struggling to raise prices as consumers pull back on spending.

(6) Europe is teetering on the edge of its next energy crisis after natural gas prices soared to the highest in two years.

See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump plans to impose 25% tariffs on all imports of steel and aluminium into the US, broadening his trade salvo and threatening ties with some of the country’s top trading partners.

(2) Donald Trump suggested that Elon Musk’s government efficiency team has found irregularities while examining data at the US Treasury Department, and intimated that may lead the US to disregard some payments.

(3) BP's dramatic under-performance compared with other oil majors has reached a crunch point — a looming showdown with one of the world’s most aggressive activist investors.

(4) British workers are increasingly worried about losing their jobs, and it’s preventing the economy from benefiting from a potential uplift in consumer spending.

(5) France is set to announce a total of €109 billion ($113 billion) in investment in artificial intelligence projects in the country by companies, funds and other sources over the coming years, President Emmanuel Macron said on the eve of a two-day AI summit in Paris.

(6) The Philadelphia Eagles are Super Bowl champions. They defeated the Kansas City Chiefs 40-22 in New Orleans. The win denies the Chiefs a third consecutive victory in American Football's showpiece event.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look at U.S CPI and Retail sales data, along with quarterly earnings from McDonalds.
• In the UK – a look at a summit on artificial intelligence taking place in Paris.
• In Asia – a look at the potential fallout of Donald Trump's trade war with China.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Bank of England Governor Andrew Bailey does “very strongly agree” with Chancellor of the Exchequer Rachel Reeves’ plans to boost UK growth. His deputy, Clare Lombardelli, is also “very supportive.” They may well be, but the central bank’s latest forecasts are certainly not.

(2) The rush to ship gold from London to the US to take advantage of premium prices is fuelling strong demand for slots to withdraw metal from the Bank of England’s vault, an official said.

(3) US Treasury Secretary Scott Bessent said he favors a strong dollar and has no plans to alter the government’s debt-issuance plans, showing a cautious approach toward financial markets from an administration that’s elsewhere rapidly upending the status quo.

(4)  The Trump administration’s campaign to root out perceived disloyalty or waste at the Justice Department, the US Agency for International Development and other federal agencies has lawmakers and former senior spy officials worried that the intelligence community is up next for a purge.

(5) Amazon warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year, with most of the money going toward data centres, homegrown chips and other equipment to provide artificial intelligence services.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) US allies expect President Donald Trump’s administration to present a long-awaited plan to end Russia’s war on Ukraine at the Munich Security Conference in Germany next week, according to people familiar with the matter.

(2) Aides to President Donald Trump sought to tone down his idea of depopulating and taking over Gaza after his suggestion that the US would “own” the war-ravaged territory was welcomed in Israel but widely condemned elsewhere.

(3) Alphabet's Google told employees that it will no longer formally seek to improve the diversity of its workforce, marking the latest step in Silicon Valley’s retreat from initiatives that have fallen out of favour during US President Donald Trump’s administration.

(4) Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.

(5) The Bank of England is expected to cut interest rates for a third time on Thursday while downgrading its UK growth forecasts and predicting higher inflation this year in a report that will make uncomfortable reading for Chancellor of the Exchequer Rachel Reeves.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Donald Trump said the US should take control of the devastated Gaza Strip, shunt the area’s residents to other countries and rebuild it into a new “Riviera,” a proposal at odds with America’s fraught history in the region and that drew sharp opposition from Saudi Arabia.

(2) The first volleys in the latest US-China trade war made clear that Xi Jinping is taking a more cautious approach than during Donald Trump’s first term.

(3) At least 10 people, including the gunman, were killed Tuesday at an adult education center in what Sweden’s prime minister called the country’s worst mass shooting. But a final death toll, a conclusive number of wounded and a motive hadn’t yet been determined hours later.

(4) French Prime Minister Francois Bayrou is set to ride out two no-confidence votes on Wednesday, giving him the stability needed to implement a delayed 2025 budget.

(5) Google parent Alphabet Inc. posted fourth-quarter revenue that missed analysts’ expectations after growth in its cloud business slowed, raising concern from investors about the billions the company is spending on artificial intelligence.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) China slapped tariffs on a range of US products and announced a probe into Google moments after President Donald Trump imposed a 10% tariff on goods from Beijing, reigniting a trade war between the world’s largest economies.

(2) President Donald Trump agreed to delay 25% tariffs on Canada and Mexico for a month after both US neighbors agreed to take tougher measures to combat migration and drug trafficking at the border, warding off a continental trade war for now.

(3) Prime Minister Keir Starmer had hoped to spend Monday marking a new milestone in the UK’s much-promised reset with European Union five years after Brexit. Instead, he received a dramatic reminder of how much harder that will be with Donald Trump back in the White House.

(4) French Prime Minister Francois Bayrou forced the adoption of a 2025 budget bill by bypassing the lower house of parliament on Monday, using a constitutional provision that will likely trigger a no-confidence vote.

(5) UBS Group for the final quarter of 2024 beat expectations, aiding the Swiss bank in boosting buyback plans for this year to $3 billion. BNP Paribas announced a new share buyback and higher-than-expected dividend after a surge in trading revenue in the final months of last year lifted profit above its targets.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump’s upcoming 25% tariffs on goods from Canada and Mexico and 10% duties on products from China are set to ricochet through households, raising prices for a wide range of items including vegetables, fruits and cars.

(2) Mexican President Claudia Sheinbaum said she will announce early Monday the details of her government’s “Plan B” to defend the country against US tariffs.

(3) As the leaders of Canada and Mexico rushed to respond after Donald Trump started a new trade war, Chinese President Xi Jinping took a breath before his nation announced any concrete retaliation.

(4) US President Donald Trump ramped up his tariff threats to the European Union while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.

(5) Panama promised free passage for US warships through the Panama Canal and said it will withdraw from China’s signature lending program after Secretary of State Marco Rubio blasted the government during his visit on Sunday.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US: We look ahead to the January Jobs report and preview some big tech earnings we're watching
• In the UK: We look ahead to the BOE rate decision 
• In Asia: We detail the future of China's DeepSeek AI 

See omnystudio.com/listener for privacy information.