Wednesday briefing: What’s at stake for the BBC as it faces further funding questions

In today's newsletter: The BBC is bracing for a high-stakes legal fight after the US president sues over an edited Panorama clip, and questions mount about the broadcaster's future funding and political vulnerability

Good morning. On Tuesday, the UK woke to the news Donald Trump had filed his threatened $10bn lawsuit against the BBC, alleging that the corporation intentionally, maliciously and deceptively" defamed him. Later that day, the government launched a review of how the beleaguered corporation will be funded into the 2030s - they will ask the public for their views on options, including a subscription service or adverts, amid a drop in licence holders.

While there remains a lack of consensus over the latter issue - in itself enough to worry BBC executives over its future - few would argue that licence fee payers should be funding a multimillion pound compensation claim to the increasingly litigious US president.

Australia | The alleged Bondi attacker who survived a shootout with police has been charged with 59 offences, including 15 counts of murder, after waking from his coma on Tuesday.

European Union | An agreement to rejoin Erasmus - the EU's student exchange programme - is expected to be announced on Wednesday as part of the UK government's drive towards closer relations with Brussels.

Venezuela | Donald Trump has ordered a total and complete" blockade of all sanctioned oil tankers entering and leaving Venezuela, ramping up pressure on the country's authoritarian leader Nicolas Maduro.

UK news | A former Royal Marine is starting a 21-year jail term for mowing down dozens of Liverpool football fans in a truly shocking" act that defies ordinary understanding".

US news | Nick Reiner has been charged with two counts of first-degree murder in the killing of his parents, the acclaimed actor and director Rob Reiner and the photographer Michele Singer Reiner, authorities announced on Tuesday.