Most Read on the Bloomberg Terminal:
Trump Says Trade Wars are ‘Easy to Win’ as Tariff Anger Spreads (Bloomberg)
Brexit Tests: U.K. Prime Minister Theresa May delivers a crucial speech today on her vision for relations after Brexit. She will pledge that leaving the European Union won’t destroy jobs as she prepares for crunch trade talks with Brussels while trying to hold together warring factions within her governing Conservative party. May Vows Brexit Deal Won’t Hurt Jobs (Bloomberg)
Today at Bloomberg London
Bloomberg Economics Editor Stephanie Flanders interviews Bank of England Governor Mark Carney at a Future of Money event today at Bloomberg’s European headquarters in London. Chris Ratcliffe, Bloomberg Photos
In a speech today at Bloomberg’s European headquarters in London, Bank of England Governor Mark Carney called for greater regulation to bring the era of cryptocurrency “anarchy” to an end. “The time has come to hold the crypto-asset ecosystem to the same standards as the rest of the financial system,” he said. BOE”s Carney Calls for Rules to End Cryptocurrency Anarchy (Bloomberg)
Italian election preview
In advance of Sunday’s election, Italians have a new take on the famous red hats. Photographer: Michele Spatari/NurPhoto via Getty Images
Italian Elections: Sunday’s election is forecast to produce a hung parliament, threatening weeks of political uncertainty for an economy already burdened by a feeble recovery and a public debt mountain. Four possible scenarios for what might transpire, including a populist pact and a chance of gridlock that may unsettle markets.
For a preview, read Jonathan Bernstein’s interview with Florence-based political scientist Hans Noel.
Why Italy’s Election is Such a Mess (Bloomberg View)
For regular updates from Italy’s campaign trail, click here. (Bloomberg)
An avalanche of editorials today about Jarvanka: Are their days numbered?
Bloomberg View editorial: Kushner’s Latest Conflict
New York Times Three Part Editorial:
Intrigue in the House of Trump: The power the president gave his daughter and son-in-law upended a basic principle of American democracy and is sowing chaos in his administration.
Jared Kushner Flames Out: Bad advice, shady deals and incompetence define the presidential son-in-law’s tenure at the White House.
First on Bloomberg: In an interview yesterday with Bloomberg, Anthony Scaramucci tore into White House Chief of Staff John Kelly, accusing him of blocking his access to the president at the White House and Davos and driving away Trump’s most-important advisers at a critical moment when the White House is in chaos. “Does the president want to lose everyone because of General Jackass?” Scaramucci said. Scaramucci Says He Fears John Kelly Will Thwart SkyBridge Sale (Bloomberg)
Climate Update: Watch Colorado Governor Hickenlooper at the Climate Leadership Conference in Denver call out America’s Pledge for its climate leadership in the absence of U.S. action: “We were proud to come out and support America’s Pledge, I appreciate all that Bloomberg Philanthropies has done on this – at this point now there are 20 states, 110 cities, 1400 businesses, and I feel the momentum is just beginning.” Climate Leadership Conference – Denver (YouTube)
And the nominees are…: Chinese film investors have more riding on the Academy Awards than usual this Sunday: two nominees for best picture. “Darkest Hour” and “Phantom Thread” are financed in part by Beijing-based Perfect World Co. through a $500 million deal with Universal Pictures. The two films are short-listed for a total of 12 awards in nine categories. China Has A Lot Riding on This Year’s Oscars (Bloomberg)
Here are the nominees. (Oscars.org)
Headlines from around the world.
China Daily: China expresses grave concerns about US trade accusation
Japan Times: Trump tariffs spark anger from allies and stock markets losses
Times of India: India doesn’t expect immediate hit on steel exports after US import curbs: Govt official
The Telegraph (UK): UK industry fears as Donald Trump’s ‘devastating’ steel tariff sends markets tumbling
Frankfurter Allgemeine Zeitung (Germany): Trump protectionism burdens markets in Asia
The Star (Canada): Stocks fall as Trump announces tariffs on steel, aluminum. Canada and Europe say they’ll retaliate
Best of Twitter.
@MikeBloomberg: Glad to catch up with colleagues at the @Bloomberg Frankfurt office today – keep up the hard work.
@MikeBloomberg: From batteries to fuel cells to 3D printing, @Heraeus R&D is developing innovative solutions that can make a positive impact around the world. Thanks to Chairman Dr. Jürgen Heraeus and the team for today’s tour of the Hanau headquarters.
@Princeton: As part of @BloombergDotOrg’s American Talent Initiative, #PrincetonU is committed to expanding access and opportunity to high-achieving, lower-income students. #ActivateTalent
@realDonaldTrump: “Manufacturing in U.S. Expands at Fastest Pace Since May 2004” — Bloomberg
Tweet of the Day:
THE PRESIDENT on Twitter at 5:42 a.m.: “Alex Baldwin, whose dieing mediocre career was saved by his impersonation of me on SNL, now says playing DJT was agony for him. Alex, it was also agony for those who were forced to watch. You were terrible. Bring back Darrell Hammond, much funnier and a far greater talent!”
— “ALEX BALDWIN”! … “Dieing” … Amazing. Trump later deleted and resent this tweet without the typos.
@realDonaldTrump: Alec Baldwin, whose dying mediocre career was saved by his terrible impersonation of me on SNL, now says playing me was agony. Alec, it was agony for those who were forced to watch. Bring back Darrell Hammond, funnier and a far greater talent!
Best of late night.
Comedians had a field day with the latest drama from the White House.
“CNN summed it up this way: ‘White House meltdown on full display.’ Well, the White House tours must be getting really interesting. ‘O.K., now we’re passing the Lincoln Bedroom. On your right, you’ll see John Kelly suffocating Jared Kushner with a pillow, and on your left, you’ll see the claw marks on the wall left by Steve Bannon as they dragged him to the curb.’”
— Stephen Colbert
“McMaster found himself in a little hot water with Trump last month when he told a German audience that Russian meddling in the election was ‘incontrovertible,’ which violated Trump’s policies against acknowledging Russian interference and of using big words. ‘Look, just say, ‘Sad!’ O.K., fancy pants?’”
— Stephen Colbert
“White House communications director Hope Hicks is leaving the White House. Hicks says she wants to move on to a job that’s a little less stressful — like heart surgeon or air traffic controller.”
“Actually, Hicks said that she resigned to pursue other opportunities. It’s a pretty tough job market out there — she’s got to compete against all those other unemployed Trump communications directors.”
— Jimmy Fallon