Key headlines from global financial media overnight and this morning include:
1. US Commerce Secretary Lutnick Confirms Visit to Epstein's Private Island US Commerce Secretary Howard Lutnick confirmed on Tuesday that he had lunch with his family on the private island of notorious sex offender Jeffrey Epstein many years ago. "While on a family vacation in 2012, I passed by on a boat and did have lunch with him," Lutnick testified before the Senate Appropriations Committee. "My wife, four children, and our nanny were there, along with another couple and their children."
2. European Parliament Moves Closer to Approving US-EU Trade Deal with New Clauses The European Parliament is a step closer to approving a trade agreement with the United States after senior lawmakers agreed to adjustments ahead of a planned vote this month. Members of the European Parliament's trade committee confirmed on Tuesday they would hold a vote on February 24. They also agreed to include a sunset clause in the agreement—meaning it will expire in March 2028 unless extended—and grant the US a six-month period to reduce the current 50% tariff on products using steel and aluminum. If the US fails to lower the tariff on products using these metals to 15%, the EU will consider reinstating tariffs on US industrial imports and some agricultural food products.
3. Alphabet Raises Nearly $32 Billion in 24 Hours, Century-Long Sterling Bond Heavily Oversubscribed Alphabet Inc. is set to raise nearly $32 billion through bond issuance in less than 24 hours, highlighting the massive financing needs of tech giants racing to develop AI capabilities and strong investor appetite for funding them. After raising $20 billion across seven tranches of dollar-denominated bonds on Monday, the parent company of Google proceeded to issue bonds in British pounds and Swiss francs, setting records in both markets. The sterling bond issuance included an extremely rare 100-year tranche, marking the first time a tech company has issued such an ultra-long-term bond since the dot-com bubble era. All tranches saw robust demand. According to informed sources, the dollar bond portion received over $100 billion in orders. The £1 billion century bond attracted nearly ten times oversubscription.
4. Tesla Announces Leadership Reshuffle, Appoints European Executive to Lead Global EV Sales Tesla Motors has appointed one of its European executives to lead global electric vehicle sales, the latest leadership change for the company's struggling automotive business. According to people familiar with matter, Joe Ward, Vice President of Tesla's Europe, Middle East, and Africa (EMEA) operations, will now lead the company's sales, service, and delivery organizations.
5. Abu Dhabi's MGX Nears Deal to Join Anthropic's Over $20 Billion Funding Round Abu Dhabi's MGX is close to finalizing an agreement to participate in the latest funding round for Anthropic, increasing its investment in the prominent AI startup, according to informed sources. MGX is negotiating to invest several hundred million dollars in this round, which is expected to total over $20 billion. An announcement regarding the proposed investment could be made within the coming days. However, no final decision has been made, and the size and structure of the investment could still change.
6. US Considers Seizing Tankers Carrying Iranian Oil to Pressure Tehran US officials have discussed whether to seize more tankers involved in transporting Iranian oil to pressure Tehran, but have held off due to concerns about almost certain retaliation from the Iranian regime and potential impacts on the global oil market, according to officials. As part of a two-month-long blockade operation targeting sanctioned tankers serving Venezuela, the US has already seized several vessels carrying Iranian oil, claiming these tankers form a so-called "shadow fleet" aiding the transport of oil from multiple sanctioned countries to buyers. Taking action to prevent other sanctioned vessels from loading oil in Iran would likely squeeze Tehran's primary source of revenue, thereby expanding the aggressive strategy the White House implemented in the Caribbean last December.