Also today: A young couple in New York City was apprehended in a billion-dollar Bitcoin scheme. The BBC reports on Toyota’s challenges in dealing with the chip shortage despite its early preparation, as well as its position in the EV market.

From the BBC World Service: Profits at the Japanese carmaker dropped 21% in the fourth quarter. Now, the disruption means Toyota plans to make half a million fewer cars in the next year. Plus, the British parliament’s spending watchdog says Brexit has increased costs, paperwork and border delays. And, will Uganda benefit from a new deal with French and Chinese energy companies to develop some of its oil reserves?

Also today: Jeffery Cleveland talks 10-year-yield, inflation and U.S. imports in our markets discussion. After President Biden met with German chancellor Olaf Scholtz, he said the U.S. could “bring an end” to the Nord Stream 2 natural gas pipeline.

Also today: The Biden administration is attempting to restore power to unions, which has been ebbing for several decades. Japanese conglomerate SoftBank has nixed the sale of British chip design firm Arm to the American chip manufacturer Nvidia. The deal would have been the largest in the semiconductor chip industry.

From the BBC World Service: BP is the latest energy firm to report bumper profits, as it benefits from higher oil and natural gas prices, which have pushed up costs for households. Plus, the European Union unveils its “chips” plan, to spend billions boosting semiconductor manufacturing on the continent. And, India’s microblogging app Koo aims to go global.

Also today: The Beijing Olympics are underway, but alleged human rights abuses in the country have cast a pall over the festivities. However, corporate sponsors for the games haven’t budged despite calls from groups to boycott. Julia Coronado talks with us about how the markets are interpreting the Fed’s messaging about rate hikes.

From the BBC World Service: President Biden is due to meet German Chancellor Olaf Scholz amid concerns over European access to natural gas from Russia. This happens as tens of thousands of Russian troops remain stationed along its border with Ukraine. Plus, leading figures behind the Oxford/AstraZeneca COVID-19 vaccine accuse politicians of damaging its reputation. And Canada’s capital, Ottawa, declares a state of emergency over ongoing trucker protests.

Also today: There’s more trade tension between the U.S. and China as the former is leaning on Beijing to honor commitments to purchase products from the U.S.

Also today: A winter storm is gripping much of the country, as are rising heating costs. Texas’ recent experience with harsh winter blackouts is still on the mind of many of its residents. The Beijing Olympics aren’t being expected to bring in lots of money.