In BIG PICTURE NEWS, we look at tariff impact and reactions. In MACRO NEWS, Trump announces talks with Iran, the ECB is expected to cut rates, Starmer reacts, gold and oil weaken, Arctic sea ice hits a low and clean energy did a lot for the world in 2024. In MISCELLANEOUS NEWS, UK house price growth stalls while a mortgage price war looks imminent, we consider whether European defence and satellite companies can seize the opportunity and DEI ditching could get problematic. AND FINALLY I bring you an incredibly annoying song...