Nukes In Space, Ukraine Fears & HSBC Profits Drop 80%

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

On today's podcast:
(1) The US has told allies that Russia could deploy a nuclear weapon or a mock warhead into space as early as this year, according to people familiar with the matter.

(2) As Russia's war in Ukraine enters a third year, President Vladimir Putin's forces have shifted to the offensive and captured the eastern city of Avdiivka after months of fighting. In a conflict where momentum has ebbed and flowed, the mood is now noticeably darker in Kyiv.

(3) HSBC reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations.

(4) Citigroup lifted Chief Executive Officer Jane Fraser's pay about 6% to $26 million for a year in which she kicked off a major overhaul of the Wall Street giant to simplify operations and boost profitability.

(5) UK Chancellor Jeremy Hunt will have £23 billion of headroom for pre-election tax cuts in his budget next month but any giveaways will be "sandwiched between far bigger past and future tax rises," according to the Resolution Foundation.

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