Bloomberg Daybreak: Europe Edition12 Tammi

Fed Served With Subpoenas, Iran Closer To Revolution, Europe-China Chip Feud

Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration’s attacks on the Fed.

(2) As protesters pour into the streets of Iran night after night, leaders across the region and around the world are grappling with the possibility that the Islamic Republic could be overthrown — a seminal event that would transform global geopolitics and energy markets.

(3) A group of European countries, led by the UK and Germany, is discussing plans for a military presence in Greenland to show US President Donald Trump that the continent is serious about Arctic security and to try to tamp down American threats to take over the self-ruling Danish territory.

(4) Indonesia and Malaysia restricted access to Elon Musk’s Grok AI over the weekend, becoming the first countries to ban the artificial intelligence system over its generation of sexual content.

(5) UK employers cut back their hiring again in December, according to a closely watched survey that is likely to add to the Bank of England’s concerns about a weakening jobs market.

(6) An effort by Europe to stand up to China and retain local technology is approaching a breaking point. A court hearing in the Netherlands on Wednesday will be crucial for chipmaker Nexperia, which was wrested away from its Chinese owners Wingtech by a decision in October.

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