lizzy: good morning, i'm lizzy burden in dubai, and these are the stories that set your agenda. because a ceasefire takes hold as the wrist hostages are united with families. 97 prisoners are released. the latest live from a key crossing between israel and gaza. tiktok's comeback, the

short-lived suspension ends after donald trump promises to extend the deadline for a sale, as the president-elect vows to sign nearly a hundred executive orders within hours of taking office today. shares in asia arises a positive conversation between president trump and xi jinping raises hopes of easing china tensions. lizzy: a very good morning. welcome to monday. it is a momentous day ahead. because of ceasefire underway. donald trump soon to be sworn in as america's 47th president. and questions over the impact of his second term hanging over the swiss mountains, not least how the u.s.-china relationship will pan out. a call between donald trump and

president xi jinping over the weekend appears to have done more to boost asian equities than the china growth data friday. looking at the msci asia pacific index up 1.1 percent. futures stateside putting a touch lower but u.s. equities and treasuries are closed for martin luther king day. euro stoxx 50 futures pointing a touch higher but the downside for ftse 100 futures as we head towards the cash session. if we flip over to the cross as it picture, treasuries taking a break today, but bitcoin interesting perhaps as a hint of how the u.s. stock market will perform. mind that correlation and how long it lasts. currently looking at bitcoin down one point 2%, yen at 156 per dollar as we gear up for the boj decision friday. euro-dollar at 1.03. we are awaiting the eurozone flash pmi's later in the week. expected to stay in

contractionary territory ahead of that ecb decision. and you have brand at $80 a barrel, paring earlier gains on this news that donald trump is poised to invoke emergency powers as part of his plan to release domestic energy production. we await this flurry of one-day executive orders around tariffs and sanctions. very brace for volatility over the next 24 hours at least. let's get back to the middle east. long awaited gaza ceasefire has begun after 15 months after war. a six-waitress underway with hamas releasing three israeli hostages in belize for 90 palestinian prisoners. that deal aims to release 33 hostages and hundreds of palestinian prisoners. oliver crook joins me with the latest from the karem shelem border crossing. how did we get here and take us through what has happened so far

because this ceasefire was by no means guaranteed. >> we got here really very painstakingly with a lot of tension the last 72 hours. there was a wimmer of hope when this was announced wednesday night by the prime minister of qatar and since then hurdle after hurdle but it coalesced the early hours of sunday. there was stop and start. the ceasefire was supposed to start of 8:30 local time, it was delayed several hours during which there was fighting the ceasefire came into effect in about when anyone hours in it has continued to hold. that meant the return of three female hostages to israel late in the day yesterday. that was met with rejoicing in tel aviv. and also the release of 90 palestinian prisoners yesterday evening. now we go into the morning. we have a gaza where you will not have any fighting for the first time in a long time and

hopefully a minimum of six weeks, which is the length of the ceasefire. right at the border crossing we will begin to have much more flows of aid and trucks. the border crossing opened just over an hour ago. to give you context, we are at the southernmost point of the israel-gaza border. on my right is the egyptian border. i spoke to the manager of the checkpoint who was telling me there will be 800 trucks expecting to cross into gaza across the various entrances across israel and rafah. in 575 will cross right here. to give you context for how important this is, the average number of daily trucks in january according to an eight agency i spoke to yesterday was 50. they want to get to higher volumes of 500 to 600 day which is closer to what was happening before the war started on october 7. lizzy: phase one underway exactly where you are, but how likely is it that we will get to

the next phase diplomatically? oliver: that is the biggest question for everybody in the region and internationally that is watching the events unfurl. it will depend on a number of things. it will depend on the goodwill of both the israeli government, of hamas who say they want to see the ceasefire endure, but it will also depend on the internal politics of israel. we had one of the ministers in the coalition, ben gvir, who wanted to prosecute the war in aggressive fashion, he resigned sunday. he withdrew support for the governor benjamin netanyahu. that gives him a slim majority in the knesset of two seats that is barely held together. what benjamin netanyahu has had to do is walk a fine line on the one hand to assuage the desires of the u.s. administration that has just left and the one

critically that is coming in. donald trump is given a huge amount of credit by everybody here for making this happen but also appeasing that right wing by saying this is only a temporary ceasefire, the fighting could resume in six weeks' time, so a lot will depend on whether the ceasefire will be held together. that will be observed by missions from the u.s., qatar and egypt. critically this will come down to the man who will be inaugurated president of the united states in just a few hours, donald trump, and what vision he has for this region. lizzy: doesn't everything? oliver crook on the ground for us at the kherem shelem border crossing. let's talk about donald trump. he celebrated the eve of his second inauguration with a rally in washington. he told supporters he plans to sign dozens of executive orders on day one of taking office. >> i'm thrilled to be back with so many friends, supporters and true american patriots on the eve of taking back our country.

that's what we're going to do. take back our country. lizzy: joining me is bloomberg's joshua. we have had the rally. we are looking forward to the inauguration but talk us through the policy. from pledging a flurry of executive orders. -- trump pledging a flurry of executive orders. >> you want to make a splash at the beginning of his term. he has made a lot of campaign promises. among them, he plans to dozens today right after taking office in the hours following the inauguration. the most likely things we will see our actions on energy. that means reopening federal lands to oil and gas exploration extraction. probably diversity and equity policies that have been a big part of his campaign and really speak to his base. and then there is also tiktok.

we have seen the sale of tiktok be a big part of the campaign in recent weeks. lawmakers had of course banned hosting the app in the u.s. which went into effect. he said he will issue an executive order to delay that. another big one we will see is potential clemency for the rioters that were convicted of crimes in the january 6 attack on the capitol, prior to bidens inauguration. a lot of these things we will see today in then probably strung out across the first days of his administration. are going to be things that were at the core of his campaign that will speak to his base and send a really strong signal that he is back in office. he intends to follow through on his promises and another one of those is immigration.

even things that will be tested in the courts. but at this point the administration feels like the judicial system is significantly leaning in their direction that they will take a rather favorable view on his policies. so i think they are feeling confident about that. lizzy: and those policies very much on the minds of the global elites as they gather in the swiss alps in davos for the world economic forum. what impact do you think his return to office will have on their conversations this week? >> it looks like will will be a massive impact. you've already seen a change in tone across many companies that send their executives there. you have seen companies like mcdonald's, walmart they have already rolled back since the election their diversity and equity policies. you see the six major u.s. banks all withdrawing from a net zero pact among global financial

institutions. so their stance on climate change and the relevance climate change policies have for their own businesses has already eroded. you have just seen immediate impact. the tone of conversation in davos for the last more than 10 years has very much been towards progressive issues. climate change, creating a more diverse workforce. these sorts of things now are going to the wayside. donald trump is not going to be president himself but he will address davos virtually later in the week. right now we see a lot of ceos lining up with the new administration and seeing that as a second term, there is no indication, no presupposition that this is a fleeting moment for the u.s. or leading change, but these policies are coming in

earnest. lizzy: indeed he has some of those ceos in the tent himself. elon musk and vivek ramaswamy. thank you so much for that preview. we will have special coverage of u.s. president-elect donald trump's inauguration later at 4:00 p.m. u.k. time, 11 a.m. in washington. do stay with us for that. markets closely watching trump's next moves as blue blurred learns the president elect planning to invoke emergency powers to boost domestic energy production. at that inauguration rally, he laid out his plan for signing those executive orders. >> within hours of taking office, i will sign dozens of executive orders. close to 100 to be exact. many of which i will be describing in my address tomorrow. lizzy: that's take the temperature in markets now with

valerie tytel. just how jittery are these markets about these announcements to come? >> it is all about whether these dollar longs will be disappointed if we don't get new news on tariffs from day one of trump 2.0. interesting that the bloomberg dollar index is trading softer. after reports that trump may attack domestic issues first, rather than international trade and tariffs. if we check on how the dollar has fared since this trump trade last september, the dollar has risen over 8% since mid-september, since that trump trade first took the markets by steam. and with it has been a big boost in dollar long positioning. flip the board again and look at the speculator positioning, hedge fund positioning when it comes to those dollar longs. they have been climbing every week since the trump trade began. we are now extremely stretched in those dollar longs. the market nervousness is about

if we don't get new news on tariffs today, are those longs set up for disappointment and could we see a slide to the downside in u.s. dollar? lizzy: let's flip over to the other side of that trade. we can go to how our asian markets are faring with avril hong in singapore. how are the markets where you are braced for trump's inauguration? joumanna: looks like in a good mood following that trump-xi phone call and how that raised optimism that maybe tariffs won't be as bad as feared. you know they say the proof is really in the pudding. we will have to see the size and scale of tariffs, particularly for china, so we will watch what comes through in terms of executive orders. the regions benchmark climbing by the most since early december to give you a sense of the optimism. it is led by chinese stocks, gauges in the mainland and hong kong climbing to the highest level in three weeks, though

given this urge our colleagues at the mliv team flagged that it is setting the stage for fresh volatility given how the worst-case scenario is not priced in per se. that optimism is also fueling gains in the chinese currency today. we see it climbing to the highest in three weeks. the yen is in focus amid the shift in expectations from last week of a boj hike this week. pressing in roughly 80% probability. where does this leave the yen? the likes of morgan stanley saying they think to buy the yen, especially if tariffs from trump are not as onerous because that gives the fed space to reduce rates, helps lead to further conversions of u.s. and japan's policy rates. although if you think about how even if the boj hikes to 1% from the current 0.25%, and it is still a big yield differential, the carry trade might be at play

so that could limit upside for yen appreciation but for now this is what we see on the asian markets. lizzy: avril hong in singapore, thank you for that read on asian markets. until that boj decision on friday, we have plenty to bring you from the world economic forum in davos. we will be discussing geopolitics, global growth, artificial intelligence and will be speaking to a host of powerbrokers. we have got the imf managing director kristalina georgieva, sarah frier the cfo of openai, the argentinian president javier milei, the nato secretary-general mark rutte, larry fink the chairman and ceo blackrock and we have ruth {prat , the president and ceo of alphabet and google. coming up on "daybreak: europe", back online, tiktok restores service side of the u.s. after briefly going dark.

we will bring you the details next. this is bloomberg. ♪

lizzy: welcome back to "bloomberg daybreak europe." coming up to 6:19 a.m. in london. breaking news crossing the terminal from the ecb. a rate cut in january not a foregone conclusion according to robert holzmann on the governing council. he says the ecb risks credibility cutting rates when cpi is rising. this, as attention turns towards growth, the risks likely to be highlighted in the pmi numbers later in the week for the euro area expected to still be in contraction territory. off the back of these lines, this interview with politico, we have euro-dollar currently stronger 0.3% at 1.03 handle.

we keep an eye on that as we head towards the ecb meeting towards the end of the month in frankfurt, of course. let's get back to the sofa media story developing over the weekend. social media app tiktok restoring service in the u.s. after briefly going dark to comply with that supreme court ruling. the reprieve came after president-elect donald trump promised an executive order giving three more months to find an american buyer for the platform. our chief north asian correspondent stephen engle has been across the story. trump's proposal for tiktok not obviously without controversy even within his own party. >> there are some key republicans in the house and the senate who want the letter of that law that was signed in april by the biden administration, a bipartisan law on national security grounds,

that essentially got the clock ticking on this sale -- potential sale of tiktok to america buyer. it hasn't happened and yesterday was the deadline for it to go dark and briefly it did. as of saturday evening u.s. time tiktok did go dark but then donald trump essentially said he would sign an executive order. one of the first of many that he is likely to do tomorrow -- later today relate -- after his inauguration. he is saying some hundred plus different executive orders, including tiktok, and that is extending that deadline by three months. as well as raising the possibility that he could orchestrate a 50-50 joint venture, which is not in the letter of that national security law. that's why mike johnson the house speaker as well as tom cotton the senate intelligence had is essentially saying he has no authority to extend it if there is not a buyer and the

motions are in place to facilitate a sale. this could be a content is issue for donald trump as he tries to get the extension, and potentially the mechanisms of any kind of sale certified by the house and the senate. lizzy: who is topping the runners and riders list to buy tiktok? elon musk has been mentioned over the weekend, perplexityai, whoever is will need deep pockets. >> that is one of the reason several trump maybe changed his tune. he was talking over the weekend how tiktok, who knows whether he knows it is a trillion dollar valuation, he threw that number out there but he says if it goes off-line, it's gone. but if we can work a deal, this is a trillion dollar business going forward, but again, who will pony up the money?

we heard some officials in beijing saying well, elon musk, we like him -- i'm paraphrasing, of course -- he could be a possible suitable buyer of tiktok but the beijing government all along does not want to sell but it is bytedance, the supposedly private company, that has to sell because of this national security legislation. but again, who will come forward in the next three months once this executive order is pushed through and whether congress agrees that something can be done within that timeframe? and a 50-50 joint venture will be a lot more difficult to get past the more hawkish members in congress who say this is a national security threat and cannot still be in the hands of the chinese communist party. lizzy: donald trump likes a deal , or so i have heard. chief asia correspondent stephen engle, we thank you. we will continue this conversation. donald trump and xi jinping

holding talks ahead of the u.s. inauguration over the weekend. discussions that could set the tone for relations between the world's two largest economies. elizabeth ingleson from the london school of economics will join me at 6:30 a.m. u.k. time. stay with us for that conversation. this is bloomberg. ♪

lizzy: welcome back to "bloomberg daybreak europe." mexico's president is rushing to support the roughly 5 million undocumented mexicans living in the u.s. ahead of donald trump's return to the white house. claudia scheinbaum's administration launched a panic app for those detained, lined up more than 2500 lawyers and nearly 2200 consulate workers. the moves are aimed at securing aid for migrants facing the west

president-elect's promise to carry out what he calls the largest deportation operation in the nation's history. elsewhere, chris jeffrey land formally kicked off her campaign to lead canada. the former finance ministers telling supporters she is the best candidate to do ba ttle with donald trump. he replaces justin trudeau who announced his resignation only of this month. she is seen as a top contender alongside former central banker mark carney. a digital token promoted by donald trump rattled cryptocurrency markets attracting billions in trade volume. trading under the $trump ticker police alana blockchain it search to $15 billion over the weekend after trump touted it on his social media accounts. by sunday the market cap had slid below 15 billion dollars after his wife melania

unveiled a coin. bitcoins slumping into the inauguration. you had seen correlation with stocks rallying last week but now dropping towards his 50-day average as u.s. futures point lower. that selloff sparked by donald trump rolling out the memecoin on friday which hogged speculative flows over the weekend. a are miner that trump's embrace of crypto is by no means a guarantee of higher prices. the world awaiting trump sir turned to

lizzy: very good morning. this is "bloomberg daybreak europe," dime lizzy burden in dubai. the gaza ceasefire take hold is

the first hot hinges are reunited with families. tiktok's short-lived u.s. suspension ends after donald trump promises to extend the deadline for a sale. this as the president elect vows to sign nearly a hundred executive orders within hours taking office today. shares in asia rise is a positive conversation between donald trump and xi jinping raises hopes of easing u.s. china tensions. a very good morning. a momentous day. the gaza ceasefire underway. donald trump said to be sworn in as america's 47th president and questions over his second term hanging over davos. we will have plenty of conversations for you from the swiss mountains. top of mind is the u.s. china relationship. we have had this call between xi and trump over the weekend and that injected confidence into asian equities this morning. more actually than the china

growth numbers on friday. u.s. futures flat to the upside but equities and treasuries stateside are closed today for holiday. european futures flat to the upside as we age toward the cash trade in europe. in ftse 100 futures a little more negative in fact. as we flip over to the class asset picture, treasuries taking a break but it bitcoin indicative of how the u.s. stock market will perform. currently bitcoin down nearly 1%. the yen at 156 per dollar. traders and economist both inspecting a hike. euro-dollar at a 1.03 handle. we had comments from robert holzmann and we expect/pmi's for been the euro area later in the week to remain in contractionary territory. we have brain trading at $80 a barrel.

paring earlier gains on the news donald trump is poised to invoke emergency powers as part of his plans to unleash domestic energy production. we will await this flurry of day one executive orders on the tariffs, on iran sanctions, and this could really keep the volatility going the next 24 hours and the weeks and months ahead, of course. let's dive into those policies. u.s. president-elect donald trump celebrating the eve of his second inauguration with a rally in washington. they told supporters he plans to sign this number of executive orders on day one of taking office. joining me for analysis is ruslan matheson bloomberg's emea is director. trump has pledged all of these executive orders, not just the rally, what can we expect policy wise? >> we can expect an awful lot. as he flagged, he wants to come out of the gate quickly and make good on a lot of the promises he said he would enact shortly

after he takes office. that's everything from the border, obviously migration, we're expecting possibly a declaration of emergency on the u.s.-mexico border after his inauguration today which would enable him to bring more funds to that area. we are expecting possibly migration rates as soon as today on some big cities across america, so very much and acting that agenda for the american people. he said he would on the immigration front -- migration front. he may declare an emergency when it comes to energy. exactly what that emergency is, is unclear, and those declarations are normally for things like natural disasters, terrorist attacks and so on so how you apply that is difficult to see. but what it is about is trying to roll back to bite an era moves to contain fossil fuels. really to enable mining again, drilling in federal lands for

fossil fuels, walking back those green regulations of the bite an era. it could get tied up in regulatory concerns for some time. we know that he may do some pardons for january 6. that was the attack on the capitol when he lost the election previously. we are interested what he comes out of the gate with in terms of things like tariffs. does he declare blanket tariffs on day one or take a more measured approach as some of his aides are urging? we have big business in town meeting with him, all falling into line, whether it be jeff bezos not just elon musk, but also meeting with tim cook saying apple is pledging massive investment in the u.s. a lot going on there and all the officials in town for his inauguration into seeing how they will manage the messaging. an awful lot going on today, interesting to go through that and see what tangibly can take effect and when. lizzy: a lot of news to come.

emea news director rosalind mathieson, you will be busy. u.s. president-elect donald trump and xi jinping the chinese president already held talks on friday. they discussed trade, tiktok, the u.s. fentanyl problem. that conversation could set the tone for relations between the world's two largest economies. we can discuss now with an expert. elizabeth ingleson, assistant professor of international history at london school of economics, joins me now. really good to have you with me on the day of the and duration. we have this -- inauguration. we have this call. the readout between xi and trump sounds amicable. elizabeth: you were speaking about the impact this has had on stock markets. and the sense of optimism is very much coming from a very low base.

and this conversation over the weekend is an indication that there is willingness on both sides to talk. that is a really important thing to keep in mind. even more important to keep in mind is president trump hasn't been inaugurated yet. we are very early days. while it is important to see these conversations happening and progress, it is very important to also keep the long picture in mind as well. lizzy: i detect a hint of skepticism on the tiktok reprieve, for example, what do you expect donald trump will want in exchange from beijing? elizabeth: the tiktok example is a really interesting one. one of the things that trump is attempting to do is positioning

himself as a dealmaker. as someone who is able to, even if it is a problem he himself has created, so the very fact of banning tiktok is something he himself in his first presidency was very much pushing. he is now positioning himself as someone who may be able to reach a deal on tiktok. the extent to which that will happen is something to remain quite skeptical of. there is also major questions about the rule of law and the capacity to even pass the executive order he is claiming he wants to pass regarding tiktok, the extent to which that is legally possible. i'm not a legal scholar but from what i have been speaking with colleagues, there is a real sense in which passing an executive order on a bill that has been so bipartisanly supported and upheld by the

supreme court raises quite serious questions. with trump there is definitely an attempt to position himself as a dealmaker but the extent to which that happens is still up in the air. lizzy: you are a historian. and i am glad to have you on this historic day. since donald trump was last in office, of course, you've got strength in the u.s. economy the weakness perhaps in the chinese economy. how much has that shifted the balance of power in the u.s. china relationship? elizabeth: we have seen quite a number of changes since trump was first in office. i think the weakness, the sort of questions over the chinese economy are significant, are important as we enter the potential and likely trade wars that may reinvigorate in trump's second presidency. china is going into this space in a very different economic position, far weaker.

but we see a shift that has been happening under xi particularly since his 14th five-year plan in which he really emphasized the importance of security in relation to economics. so, he connected security and economics in a way far more overtly then he has and more consistently than he had previously. that was a real shift from around 2021 in which he was emphasizing the security nature of economics. we are seeing quite significant changes both in the politics of china as well as his economy. the new trump administration will certainly be facing a different space there and the united states itself is in a very different position than it was in the first trump administration, too, not least of which is the covered pandemic and all the interruptions that have happened since. if i may conclude, the

historians view also gives us a sense in which trump's second term is very much now part of an era in which his first term in 2016, winning in 2016 and from 2017 onwards. we're now in a period where that will be part of the same era, or moment in time, when we look back as scholars. so the biden administration, therefore, is very much a hinge moment rather than a moment that could have shifted american politics more long-term. lizzy: elizabeth ingleson, assistant professor of international history at the london school of economics, good to have the first draft of history right here on bloomberg tv.

now to some other stories making use. -- news. the u.k. government says it is preparing for all scenarios as donald trump takes office. the president-elect vowed tariffs of as much as 20% on imports to the u.s. any restrictions posed by the new u.s. administration could put the government's growth mission at risk. santander is considering leaving the u.k. as a range of options for its british business. the financial times has the spanish lender is contending with lower returns in britain as well as a probe into this selling of car loans. a spokesperson said the u.k. remains of a core market for the bank. asking prices started with the biggest rise in 20 months according to online property website rightmove, the average price climbed by 1.7% to just over 300 66,000 pounds in january. the figures suggest that sellers

remain confident in the face of higher mortgage rates since october's budget. spain's prime minister is proposing a ban on non-eu citizens from buying homes in the country. sunday's comments by pedro sanchez go beyond last week's suggestion of a 100% tax on foreign purchases. spain has a shortfall of 200,000 homes. we have a very busy week coming up for you. we will be live at the world economic forum in davos all of this week. along the key guests joining our coverage include central bank policymakers, the south african reserve bank governor, the bank of france governor, the bundesbank president close cannot --klaas knot, they smb chairman, all the movers and shakers right here on bloomberg tv. here on bloomberg "daybreak: europe", coming up, legal ai startup luminance is hoping to

continue the momentum it started in 2024 by expanding its presence in the u.s. we will speak to ceo eleanor lightbody exclusively next. this is bloomberg. ♪

lizzy: 6:46 a.m. in london. i'm lizzy burden in dubai. this is "bloomberg daybreak europe." welcome back. cambridge-born legal ai company luminance has seen its corporate customer base more than doubled since the start of the year. the firm is announcing new

offices in san francisco and toronto after tripling its u.s. headcount in 2024. i'm pleased to be joined now exclusively by eleanor lightbody , ceo of luminance. great to have you with me. you have just opened new offices in san francisco. you tripled your headcount stateside. why are you so confident about doing business in donald trump's america? eleanor: lovely, thank you for having me back. look, we as you mentioned, are going super fast in the u.s. our corporate customer base increased by double. in the last year in the u.s. those that are easing our product to enhance legal teams accelerate the work they are doing with contracting. quite frankly, 40% of our revenue now comes from the u.s. we only opened up our u.s. operations a few years ago and have seen success after success. working with customers like amd one of the largest chip manufacturing companies in the world. we are hiring in hubs to meet the organic growth we have seen.

lizzy: as a u.k. business leader, do you think keir starmer should be taking a leaf out of trump's book when it comes to deregulation and tax cuts? eleanor: the ai action plan is definitely a step in the right direction. it is bold, it is promising. what really stood out for me is there was this narrative of changing the u.k., for an ai maker other than mam meme i take her, essentially creating the wave rather than writing the wave which is fantastic. we have seen them break it down into three main things. looking at one, creating ai zones to essentially decrease the cost of computer power. anyone with a i knows that can go only be a good thing. the second is looking at ai across public sectors which is a great thing as well.

the third, one at luminance we are excited to hear more of, which is how do we attract and retain talent here in the u.k.? and there is talks around sponsorships and scholarships. let's see where that gets to. lizzy: there has been a lot of praise for keir starmer's long-term vision but a lot of criticism about the short-term. do you think all those ai plans will come into effect fast enough? eleanor: you probably know this better than i do. but when i read about the u.k., i read a lot about how productivity growth has decreased, resulting in slower economic growth. if you look over the last 30 years, technology has been the engine to increase productivity. yes there are some actions that will probably last in a longer phase.

having said that, there are some you can see short-term benefits already. there are ai companies that can help today that the government are talking to. whether that is looking at implementing ai software to help doctors with some of the groundwork, the drudgery work they are doing getting their notes online faster. if we thing about government procurement processes, if you think about what luminance does, using ai to help with long, complex contracts helping them accelerate the work they are doing. so that they can engage faster. there were some quick wins. yes, the devil is in the detail and there is a lot that remains to be seen, but it is definitely movement in the right direction. lizzy: coming back to your u.s. expansion, we reported last week that sequoia is in talks to lead a $300 million funding round for harvey, another legal ai startup based out of san francisco which

i am reliably told was named after harvey from seuss as was kriti gupta's dog, but what is your strategy for competing with the likes of harvey in the u.s.? eleanor: gartner recently reported that the legal tech market should be up to $50 billion in the next two years. and harvey reportedly raising this amount of money at that valuation is only a great thing. it validates what we're doing, it validates how big this market is. as i said the last two years 40% of our revenue now comes from the u.s. we are winning there. we are working with the largest organizations using our technology on a daily basis and those include amd, koch industries, anymore. quite frankly we are focused on delivering value for our customers and welcoming new customers on a monthly basis. lizzy: eleanor lightbody, ceo of luminance, always good to have

you with me on the program. collaboration in the intelligence age is one of the key themes at davos this week. the world economic forum kicking off and bloomberg will be speaking to a host of global tech leaders, including meta's head of global business group nicolette mendelson, the mistral ai cfo, the openai founder of sarah frier, the alphabet chief investment officer ruth porat, google deepmind's lila ibrahim and anthropic's ceo dario amodei, all of those names coming up, and plenty more right here on "daybreak: europe". stay with us. this is bloomberg. ♪

>> on behalf of everyone at tiktok and all our users across the country, i want to thank president trump for his commitment to work with us to find a solution that keeps tiktok available in the united states. lizzy: that was the tiktok boss give a shoutout to president-elect donald trump in a video. the future of tiktok a key question in the u.s. china relationship. we already had that call between president xi and president-elect donald trump over the weekend boosting asian equities this

morning. the msci asia pacific up more than 1%. you can see perhaps why. these are america's biggest trading partners as of the third quarter of 2024. china by far the biggest, so the most exposed to trump tariffs in asia, and if we flip the board, you can see how dependent china is on trade, it makes up 40% of the chinese economy. if we flip the board again, you can see the boost tariffs have had to the u.s. treasury's coffers, and that would be if we flip over the white line. compare that to china's fiscal revenues from tariffs, the red line, and that gap widening significantly since 2018. the question is where do we go under donald trump? his inauguration coming up later today. stay tuned for full coverage right here on bloomberg tv. that will be at 4:00 p.m. u.k. time, 11 a.m. in washington. meanwhile, we're at the world economic forum all week discussing geopolitics, global growth, ai, lots of

conversations out of davos. today we will be speaking to the invest core executive chairman, the oh mv ceo, an exclusive interview with blackrock vice-chairman as well as meta's global business head and the saudi economy minister. that does it for "bloomberg daybreak europe." the opening trade is coming up next. anna edwards and guy johnson will take you to the start of the cash trade in europe. this is bloomberg. ♪ ♪♪ ♪ three little birds ♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪

♪♪ the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways.

>> good morning from london, i am anna edwards alongside guy johnson. donald trump vows to sign every 100 executive orders within hours of taking office later today, and the president-elect promises to extend the deadline to sell tiktok. the gaza cease-fire holds, three israeli