Bloomberg Daybreak: Europe Edition (Bloomberg)

Your morning briefing. The news you need in just 15 minutes.

On today's podcast:
 (1) Former Bank of England rate setter Michael Saunders says interest rates may already have peaked.

(2) Brent crude has topped 90-dollars a barrel for the first time this year on OPEC+ supply cut news.

(3) ARM is aiming for a market value of close to $55 billion, below initial expectations.

(4) Manchester United's shares plunged following reports that the club is no longer for sale.

(5) As higher rates push many UK landlords out of the market, bigger players are eyeing building housing blocks to rent. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The boss of Barclays tells us an exodus of top bankers was driven by a decision to refocus the business.

(2) Goldman Sachs International CEO tells Bloomberg the bank is ending its relationship with Odey Asset Management.

(3) Citi warns traders are underestimating how much US inflation will drop ahead of today's CPI print.

(4) ARM looks to Intel as an anchor investor for its US IPO. 

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) The Federal Reserve held interest rates steady for a third meeting and gave its clearest signal yet that its aggressive hiking campaign is finished by forecasting a series of cuts next year.

(2) Virtually no corner of financial markets was left out of Wednesday's cross-asset advance: Global shares spiked higher. Front-end Treasuries posted their best day since March. World currencies surged against the dollar and corporate bonds rallied.

(3) Traders have ramped up bets on interest-rate cuts by the Bank of England next year after soft GDP data reinforced the view that policymakers won't be able to keep monetary policy tight for so long.

(4) Today's European Central Bank decision is also being watched for how forcefully policymakers push back against bets on interest rate cuts.

(5) Republicans in the US House voted Wednesday to formally authorize an impeachment inquiry into President Joe Biden, escalating a probe that has been underway for several months.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. 

In this episode: 

1. Federal Reserve interest rate decision. Economists are forecasting the Fed will hold the target for its benchmark interest rate at 5.25% to 5.5%.
2. US employment report for October. Economists are forecasting non-farm payrolls rose by 173,000 in October following September’s gain of 336,000.
3. Republicans installed little-known Trump ally Mike Johnson as US House speaker, cementing the party’s rightward shift and ending a messy three-week succession fight that paralyzed legislative work.

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 Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone barrage, according to two US officials, but Iranian media appeared to downplay the incident in the hours that followed the initial reports.

(2) Oil and gold surged, then retreated, after Iranian media appeared to downplay retaliatory strikes following last weekend’s unprecedented bombardment of Israel.

(3) The strikes comes hours after a top Iranian general said his country may reconsider its nuclear policies if Israel threatens to attack its atomic sites, an implicit warning that Tehran might race toward a nuclear weapon as rhetoric continued to escalate in the wake of its April 13 drone and missile attack.

(4) Netflix posted its best start to the year since 2020, attracting more new customers than anyone expected thanks to a strong slate of original programs and a crackdown on password sharing.

(5) Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalized by the UK government, according to contingency plans drawn up by officials. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Pressure grows on the Bank of England ahead of today's inflation print.

(2) Biden says Xi was like a dictator kept in the dark about the alleged Chinese spy balloon.

(3) The head of the New York Fed says company directors need to ensure management are doing their jobs.

(4) With less than 30 hours of air remaining, noises have been detected in the search for the missing Titanic submersible. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) A 6% Bank of England policy rate would lead to a 2% drop in UK GDP, according to Bloomberg Economics.

(2) An ECB policymaker says rate hikes could end this year.

(3) Research by the Institute for Public Policy Research suggests the UK is suffering from a £560 billion investment gap.

(4) The US and China agree to keep talking after Blinken's trip to Beijing. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - As earnings season kicks off, we preview what we can expect from some of Wall Street's biggest banks. 

In the UK -  The economic trajectory will be back in focus in the coming days - as a batch of data will help tell us whether Britain may avoid a recession. A recent survey of company executives highlighted their pessimism about the outlook - despite the encouraging signs coming from some quarters. 

In Asia - Taiwan's presidential election is set for January 13th.The results will help shape the course of US-China relations for years to come.  

In DC - With the race for President in full swing, we look at a new series of new Gallup polls focusing on the election. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you in the coming week including news from the Fed, Bank of Japan and the Bank of England. Plus, the United Nations is set to take over New York City.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) In the City of London, executives are looking forward to the imminent general election as a chance for clarity after a turbulent few years.

(2) A two-speed global economy skewed by US strength is overshadowing this week’s Group of Seven meeting as officials confront the prospect of less synchronized monetary policies.

(3) Segantii is shutting down and returning capital to investors after an insider trading charge in Hong Kong sparked concerns about a flood of redemptions, according to people familiar with the matter.

(4) Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter.

(5) Alphabet and Meta Platforms have held discussions with major Hollywood studios about licensing content for use in the tech giants’ artificial intelligence video generation software, according to people familiar with the matter.

(6) Citigroup, HSBC Holdings and Barclays are ordering more staffers to report to company offices five days a week as regulatory changes make it trickier for Wall Street to allow working from home. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Federal Reserve Chair Jerome Powell signalled central bank officials are on course to cut interest rates in September unless inflation progress stalls, citing risks of further labor-market weakening.

(2) It’s a close call, but Bank of England policymakers are likely to vote for the first interest rate cut since the start of the pandemic after inflationary pressures in the UK receded.

(3) The US is considering unilateral restrictions on China’s access to AI memory chips and equipment capable of making those semiconductors as soon as next month, a move that would further escalate the tech rivalry between the world’s biggest economies.

(4) Republican nominee Donald Trump questioned Vice President Kamala Harris’ racial identity at a contentious roundtable with Black journalists, fumbling an attempt to reach out to voters of color.

(5) More than 100 people have been arrested outside Downing Street after a violent protest broke out in the wake of the Southport attack. 

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On today's podcast

(1) Two-thirds of financial professionals believe a Labour-led government would be the best result for UK stocks and the pound.

(2) Tenants are paying 12% more than a year ago for new rental agreements, the largest rise since Hamptons began publishing its letting index.

(3) United Auto Workers President Shawn Fain said he's unmoved by an offer of a 21% pay raise from Stellantis.

(4)  Bankers in Monaco allegedly bent their own rules and ignored red flags to take cash.

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On Today's Podcast
(1) The UK economy shrank at the fastest pace in seven months in July, reviving fears that a recession may be under way.

(2) BP's CEO Bernard Looney has resigned over failing to fully disclose past relationships with colleagues.

(3) Apple has launched a range of upgraded iPhones and raised the price of its top end handset everywhere but the UK.

(4) Doubleline Capital CEO Jeffrey Gundlach fired back at retired 'bond king' Bill Gross, saying he hopes he feels better about himself . 

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Jamie Dimon warns rates could hit 7% as Fed hawks say more hikes are needed
(2) Biden and McCarthy say a default is off the table, but fail to agree a deal
(3) JPMorgan expects investment banking and market revenue to drop by 15%.
(4) Carl Icahn speaks to Bloomberg after a Hindenburg Research report leaves him $15 Billion poorer.

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President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, which will come into effect on April 3, initially targeting fully assembled vehicles. Trump also suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US, and threatened levies on lumber, semiconductors, and pharmaceutical drugs. The tariffs are expected to raise prices of foreign-made cars, and even US-made vehicles may see price increases if supplies and parts are hit by levies or if supply chains are cut off from manufacturing in lower-cost countries. In this bonus episode of the Bloomberg Daybreak Europe Podcast Caroline Hepker and Stephen Carroll get the thoughts of our EMEA News Director Ros Mathieson and our Markets Live Executive Editor Mark Cudmore as well as hearing from Carl Tannenbaum, Chief Economist at Northern Trust.

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Listen to today's top stories, with context, in just 15 minutes. Subscribe and rate our podcast here:
Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-europe-edition/id1663863397
Spotify: https://open.spotify.com/show/2OkpUUTl7dafPaS0DP0p5Q
TuneIn: https://tunein.com/podcasts/p963347/

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Listen to today's top stories, with context, in just 15 minutes. Subscribe and rate our podcast here:
Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-europe-edition/id1663863397
Spotify: https://open.spotify.com/show/2OkpUUTl7dafPaS0DP0p5Q
TuneIn: https://tunein.com/podcasts/p963347/

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On today's podcast:
(1) JP Morgan CEO Jamie Dimon calls for more 'more humility' from regulators as he criticises their capital plans.

(2) Apple gears up for a high-stakes iPhone launch as fears of a China backlash grow.

(3) Bankers prepare to stop taking share orders early for Arm's IPO which is already ten times oversubscribed.

(4) Bloomberg learns dangerous crumbling concrete has been found in the Houses of Parliament.

(5) New EU tech rules could become a blueprint for countries looking to regulate some of the world's most powerful companies  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Bloomberg Economics says higher rates will push UK into recession by the end of the year

(2) Putin labels Wagner mercenary commanders 'traitors' as Prigozhin denies coup attempt.

(3) Odey Asset Management has suspended two more funds, including its flagship hedge fund.

(4) A decline in UK shop price inflation offers a glimmer of hope for the Bank of England. 

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(1)  BHP the world's biggest miner, posted a full-year profit broadly in line with expectations, as revenue from iron ore and copper increased despite a deteriorating Chinese demand outlook.

(2) Pavel Durov, the CEO of Telegram, has been detained in France over claims that the messaging service failed to properly fight crime on the app, including the spread of child sexual abuse material.

(3) Longtime Apple Chief Financial Officer Luca Maestri will step down from the job at the end of the year, handing the role to top deputy Kevan Parekh after more than a decade.

(4) Despite a day of relative calm in the skies over Israel and Lebanon, tensions remained high Monday over the prospect that a regional war could erupt after Israel mounted what it called a preemptive strike that took out thousands of Hezbollah missile launchers.

(5) Prices in Britain's shops have fallen for the time in almost three years, as Bank of England policymakers mull further interest rate cuts.(6) UK banks are preparing for a red-hot corner in the lending market as the new Labour government's plan to address a housing shortage prompts developers to boost supply of homes. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

Apple reported a deepening slump in China during the holiday quarter, even as total iPhone sales were stronger than expected and the company returned to revenue growth.

Meta and Amazon reported better-than-expected earnings on Thursday, sending their stock prices soaring by a combined $270 billion

Bank of England Governor Andrew Bailey has put the British central bank on a clear path to rate cuts. He also gave investors a few reasons to think the journey for policy makers in London may take longer than for those in Washington and Frankfurt.

New York Community Bancorp tumbled for a second straight day as Wall Street downgrades piled up. Regional bank peers slumped as well, with a closely watched index extending its two-day drop to 8%, the most since the sector's tumult in March roiled financial markets.

President Joe Biden is making no secret of his intentions for multiple attacks on an Iran-backed group that killed three US soldiers last week, a strategy that's exposed him to criticism he's giving up the element of surprise. 

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In this bonus episode, Barclays CEO CS Venkatakrishnan speaks to Bloomberg Editor-At-Large Francine Lacqua in an exclusive interview to mark his first earnings at the lender since he returned to the bank from cancer treatment

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Donald Trump tapped JD Vance as his running mate, elevating to the Republican presidential ticket a venture capitalist-turned-senator whose embrace of populist politics garnered national attention and made him a rising star in the party.

(2) President Joe Biden defended his suggestion that Donald Trump should be “put in the bullseye” in an NBC News interview Monday following the assassination attempt on his Republican opponent. 

(3) Elon Musk is pledging to pour $45 million a month into a pro-Donald Trump political group, a move that would flood the Republican nominee’s reelection effort with cash through the November election.

(4) Federal Reserve Chair Jerome Powell said second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank’s 2% goal, possibly paving the way for near-term interest-rate cuts.

(5) The euro-area economy is gradually picking up and activity is on track to accelerate over the remainder of the year, European Economy Commissioner Paolo Gentiloni said on Monday. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the president’s trade war.

(2) US Treasury Secretary Scott Bessent said US taxpayers don’t need to worry about the security of their private data while Elon Musk’s Department of Government Efficiency team seeks to make the federal government more efficient. The DOGE team has identified an estimated $50 billion in savings so far, Bessent said Tuesday during a Fox News interview. “So that’s a very good start.”

(3) Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached, even as his boss, President Donald Trump, said he’ll probably meet Vladimir Putin to discuss a settlement before the end of February.

(4) Top officials from the US and Russia met for a first round of talks over the war in Ukraine and raised the possibility of broader cooperation, signaling President Donald Trump desire to reboot a battered relationship.

(5) HSBC will incur $1.8 billion in costs over the next two years as it embarks on a global restructuring program that has seen the lender shutter some of its businesses and slash management ranks.
 .

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Keir Starmer's Labour Party won the UK general election and is on course for a huge parliamentary majority with votes still being counted, a result that upends British politics after Rishi Sunak's Conservatives imploded.

(2) Labour passed the magic number of 326 seats for a House of Commons majority just before 5 a.m. on Friday, confirming a change of government that was predicted for months but is still a remarkable turnaround for Starmer's party in a single electoral cycle.

(3) Some big Tory names have already lost their seats including Defence Secretary Grant Shapps. The exit poll puts them on course to win 131 seats, as Nigel Farage's populist Reform UK Party took chunks out of the Tory support.

(4) UK equity-index futures climbed and the pound held recent gains after the Labour Party won a majority of seats in Parliament, giving it a clear mandate to deliver on its pledge for greater economic stability.

(5) Before the vote, Labour placed economic stability at the top of its manifesto and pledged to stick to tough spending rules. Rachel Reeves, an ex-Bank of England staffer who's set to become the UK's finance minister, said that the administration would not raise three of the UK's key taxes on wages and goods.  

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On today's podcast:
(1) Chevron CEO Mike Wirth says crude on track to return to $100.

(2) Santander is overhauling its corporate structure in a move that may involve job cuts.

(3) An expected increase in UK inflation is making the Bank of England's decision harder.

(4)  Hungary is going all in to become one of the world’s biggest suppliers for EVs.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1)  Right-wing members of Rishi Sunak's UK Conservative Party caucus said his attempt to implement a plan to deport asylum seekers to Rwanda "doesn't go far enough," underscoring the risk to the prime minister of a Parliamentary rebellion.

(2) Prime Minister Rishi Sunak said he kept government scientists in the dark about his controversial Eat Out to Help Out, an acknowledgment likely to fuel questions over his judgment in pushing a policy that encouraged Britons to mingle in pubs and restaurants during the pandemic.

(3) Talks are ongoing to secure an oil and gas cut agreement on the final day of the COP28 climate summit in Dubai.

(4) Google's mobile app store maintains a monopoly in the market for distribution of programs and payments on its Android software, a federal jury in California decided, dealing a blow to the technology giant in a high-stakes antitrust battle with Epic Games Inc.

(5) The pace of spiraling rental costs in Britain's housing market is finally beginning to slow according to Zoopla 

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 Your morning briefing, the business news you need in just 15 minutes. 

 On today's podcast:

(1) US Treasuries are at risk of a further selloff as traders in the futures and options markets cash in on their bets for aggressive Federal Reserve interest-rate cuts this year.

(2) Bank of Japan Deputy Governor Shinichi Uchida sent a strong dovish signal in the wake of historic financial market volatility in Japan by pledging to refrain from hiking interest rates when the markets are unstable.

(3) UK Police forces deployed extra officers and said they were ready to arrest hundreds more far-right activists if they followed through with plans circulated online to converge on immigration centers Wednesday night.

(4) Novo Nordisk shares plummeted as sales of its blockbuster weight-loss treatment Wegovy disappointed investors in a rare misstep for the high-flying drugmaker.

(5) Vice President Kamala Harris kicked off a critical campaign stretch aimed at putting Republican Donald Trump on the defensive in key swing states as she took the stage for the first time with her new running mate, Minnesota Governor Tim Walz. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Federal Reserve officials have dialed back their expectations for interest-rate cuts this year, though Chair Jerome Powell kept the door open for more as he emphasized the new forecasts represented a conservative approach.

(2) G7 leaders are set to reach a political agreement to provide Ukraine with $50 billion of aid using the profits generated by frozen Russian sovereign assets, according to an Elysee official.

(3) Labour is expected to reiterate its promise to target carried interest in its election policy pledges when the party announces its election manifesto today.

(4) French President Emmanuel Macron said he won't resign if his party suffers a poor result in a snap parliamentary election as he appealed to voters not to succumb to the "fever of the extremists."

(5) Fired SpaceX engineers have filed a lawsuit against Elon Musk for sexual harassment and retaliation in California state court, escalating their multifront legal battle with the billionaire chief executive and his aerospace company. SpaceX and Elon Musk did not immediately respond to requests for comment on the lawsuit. 

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) Labour have taken a parliamentary seat from the Conservatives in northern England. It's the first major setback in a predicted slew of defeats for Sunak’s Tories, as results from local council elections across England plus key mayoralties like London, Tees Valley and West Midlands are announced on Friday and over the weekend.

(2) Apple shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.  Apple also announced the biggest stock buyback in US history.

(3) The Bank of England's effort to stimulate the economy during the pandemic is responsible for all £115 billion ($144 billion) of the net losses on quantitative-easing that UK taxpayers will have to cover, analysis by Bloomberg shows.

(4) Bloomberg has found that Huawei Technologies, the Chinese telecommunications giant blacklisted by the US, is secretly funding cutting-edge research at American universities including Harvard through an independent Washington-based foundation.

(5) Goldman Sachs is preparing to scrap an EU-era cap on bonuses for hundreds of its staff in Britain, paving the way for some successful and highest-paid traders and investment bankers to make many times their base salaries. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Drugs maker Novo Nordisk gets a boost from its breakthrough weight-loss drug Wegovy.

(2) European gas prices jumped on Wednesday as LNG workers in Australia vote to strike.

(3) Disney raises prices for some streaming subscriptions by as much as 27%.

(4) A state of emergency has been declared in Ecuador following the assassination of presidential candidate. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) The Bank of Japan tightens monetary policy by loosening its grip on bond yields.

(2) NatWest earnings out today after the bank loses two top executives to political scandal.

(3) ECB President Christine Lagarde mulls recession risks after hiking rates for a ninth time.

(4) Citi tells UK staff their office attendance records will be monitored. 

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 Your morning briefing, the business news you need in just 15 minutes.On today's podcast:
(1) Rishi Sunak faced last-minute calls by cabinet ministers to add new tax cuts and a tougher migration policy to the Conservative manifesto after early drafts provoked disquiet over the lack of big-ticket pledges that might prevent a heavy defeat in the UK general election.

(2) Far-right leader Marine Le Pen’s National Rally is seen garnering 34% of voter intentions in the first round of upcoming French legislative elections, compared with 19% for President Emmanuel Macron’s ruling party, according to a poll.

(3) Bill Gross is finding opportunities in Europe after surprising election results in the region rattled markets and sent French bond yields to their highest mark this year.

(4) The European Central Bank must stay cautious, and last week’s cut in borrowing costs won’t necessarily be followed by further rapid moves, according to President Christine Lagarde.

(5) Apple took the wraps off long-awaited new artificial intelligence features, including a partnership with ChatGPT maker OpenAI, betting that a personalized and understated approach to the technology will win over customers. 

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On today's podcast:

(1) The US is pushing to control all major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv’s other allies and undermining its bid for European Union membership.

(2) Federal Reserve Bank of Boston President Susan Collins said it looks “inevitable” that tariffs will boost inflation, at least in the near term, adding it’s likely appropriate to keep interest rates steady for longer.

(3) Donald Trump has piqued European leaders’ interest in currency markets. After the euro jumped against the dollar, French president Emmanuel Macron quizzed central bank chief Christine Lagarde on the outlook for the exchange rate in private conversations in Brussels last week, according to people briefed on the discussions.

(4) UK Chancellor of the Exchequer Rachel Reeves boasted on Wednesday that she had restored her fiscal buffer to £9.9 billion ($13 billion). A day later, she had lost half of it.

(5) Elon Musk, the billionaire running President Donald Trump’s federal cost cutting effort, said he plans to slash $1 trillion in government spending by the end of May.

(5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.

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Listen to today's top stories, with context, in just 15 minutes. Subscribe and rate our podcast here:
Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-europe-edition/id1663863397
Spotify: https://open.spotify.com/show/2OkpUUTl7dafPaS0DP0p5Q
TuneIn: https://tunein.com/podcasts/p963347/

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) London’s Heathrow airport will close all day Friday after a nearby fire caused a major power outage, throwing one of the world’s busiest airports and the travel plans of hundreds of thousands of people into chaos.

(2) European Union leaders tussled over weapons deliveries to Kyiv and who would represent them in US-led diplomacy as the bloc struggled to formulate a strategy on Ukraine.

(3) Bank of England Governor Andrew Bailey urged his rate-setting colleagues to tread carefully after the central bank held policy steady in the face of a turbulent global backdrop.

(4) Turkey’s central bank raised one of its key interest rates in a surprise meeting on Thursday, the latest move by authorities to reverse a decline in the lira.

(5) Israel’s cabinet approved Prime Minister Benjamin Netanyahu’s decision to fire the country’s domestic intelligence chief, defying thousands of protesters who rallied against his removal and those of other security and judicial officials.

(6) The UK’s richest are set to unleash their savings to splash on luxury goods, cars or tech, a report showed, in signs that lower interest rates are boosting demand.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Israel reached a deal for a 60-day cease-fire with the Lebanese militant group Hezbollah after weeks of talks mediated by the US, a first step toward ending a conflict that's killed thousands of people and opening the door to fresh peace initiatives in the Gaza Strip.

(2) French Prime Minister Michel Barnier said the country faces "storm" in financial markets if an "unlikely but possible" alliance of lawmakers across the political spectrum rejects his government's budget proposals and votes it out of power.

(3) Taxes on Britain's biggest businesses jumped sharply even before Chancellor of the Exchequer Rachel Reeves increased their burden in last month's budget.

(4) President-elect Donald Trump named Kevin Hassett to direct the National Economic Council and Jamieson Greer as the US Trade Representative, filling two key posts on his economic team.

(5) Bernard Arnault, CEO of LVMH, is set to testify in a criminal courtroom about an extortion attempt involving a former bodyguard and a paparazzo who demanded €300,000 in exchange for photos of him with a woman who wasn't his wife.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Confidence in the resilience of the global economy is cheering up the Davos crowd against a backdrop of war and prospective political upheaval in the year ahead. 

(2) Data released Wednesday presented a mixed bag for China's economy, which hit an official growth target for the year but has failed to shake off several of the problems most persistently weighing on domestic demand and confidence.

(3) Federal Reserve Governor Christopher Waller says the US central bank should take a cautious and systematic approach when it begins cutting interest rates, a process that can start this year absent a rebound in inflation.

(4) Rishi Sunak suffered a major setback as a right-wing politician whom he made deputy chairman of the governing Conservative Party to boost support ahead of a looming UK general election resigned over the prime minister's refusal to toughen his signature anti-immigration bill.

(5) Zelenskiy turns on Davos charm with humor, handshakes and hugs. The Ukrainian president spent 24 hours pitching the Wall Street elite for investment and patching up ties with old allies as part of a push to shore up the faltering war effort. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) A series of technical glitches disrupted services at airlines, banks and the London Stock Exchange on Friday, an unusually widespread cascade of failures that erupted from the US to Asia after Microsoft reported an outage across its online services.

(2) Donald Trump delivered his first public address since surviving a failed assassination attempt, relating an incident in detail that he called "too painful to tell."

(3) President Joe Biden's grasp on the Democratic presidential nomination appeared to be slipping Thursday, as he weighed increasingly public warnings from his party's top lawmakers while in isolation for a Covid-19 infection at his Delaware beach house.

(4) Chancellor of the Exchequer Rachel Reeves warned "difficult decisions" lie ahead as she tries to fix Britain's public finances, raising the prospect of tax hikes or spending cuts in her first Budget in the autumn.

(5) Englishman Daniel Brown is the surprise clubhouse leader going into the second round of the Open Championship golf. He's on 6-under par at Royal Troon, a stroke clear of 2019 winner Shane Lowry. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Bloomberg Intelligence has crunched the numbers on why the share prices of European banks lag their Wall Street rivals.

(2) China's Xi calls for open supply chains after curbing the exports of key metals.

(3) The UK's Financial Watchdog sets out plans for a single UK price feed for bond trades.

(4) global temperatures hit an all time record on Monday in a blow for the battle against climate change. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Fox to pay $787.5 Million to settle dominion defamation case.

(2) Goldman traders miss out on Wall Street's fixed-income boom.

(3) Netflix missed estimates, adding only 1.75m new customers.

(4) The ECB's Chief Economist tells Bloomberg that he expects another hike in May.

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Your morning briefing. The news you need in just 15 minutes.

On today's podcast:

(1) JP Morgan CEO Jamie Dimon tells Bloomberg a soft landing is possible, but warns of risks from Ukraine & China.

(2) President Xi Jinping says China needs to overcome "comprehensive containment and suppression" led by the US.

(3) The US is moving closer to restricting access to the Chinese video-sharing app TikTok.

(4) Goldman's golden goose trader, Joe Montesano, says he's leaving to take a break. 

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On today's podcast:

(1) Netanyahu told Israelis a ground invasion is being prepared as the country's military continues to target Hamas's leadership in Gaza.

(2) US President Joe Biden said he asked Israel to delay a ground invasion of Gaza to assist in the return of hostages held by Hamas.

(3) Morgan Stanley selected Ted Pick to become its new chief executive officer, succeeding James Gorman after a 14-year run that reshaped the Wall Street bank.

(4) BNP Paribas posted weaker revenue from fixed-income trading in the third quarter, adding to evidence that European banks underperformed their Wall Street counterparts.

(5)  Meta has dashed investors' hopes for a long-term advertising recovery, saying it is at the whim of an uncertain economic environment. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to U.S GDP, and PCE data, and earnings from Macy’s.
• In the UK – a preview of the CBI's annual conference.
• In Asia – a look ahead to a meeting of the Bank of Korea and Trump-China trade.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Chancellor Olaf Scholz’s ruling coalition was punished in two regional elections in eastern Germany on Sunday, with populist parties on the extreme right and left taking more than 60% of the vote in Thuringia and almost half in Saxony.

(2) President Emmanuel Macron will meet on Monday with Bernard Cazeneuve, a former Socialist Party official and ex-premier, as he heads toward naming France’s next prime minister.

(3) Inventories of key raw materials are piling up in China, evidence that economic activity remains too feeble to clear a surplus that’s crushing prices from steel to soybeans.

(4) Israel’s largest labor group is poised for a nationwide strike on Monday, the strongest push yet to force the government into a Gaza cease-fire and secure the release of hostages held by Hamas. 

 5) - Ernesto Bertarelli might be Switzerland’s wealthiest man, but a $135 million bet on a sailing race is a lot when it risks disappearing in day.

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack.

(2) Warren Buffett's Berkshire Hathaway says its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at "eye-popping performance."

(3) Ukrainian President Volodymyr Zelenskiy said his country has lost 31,000 soldiers since Russia's full-scale invasion started two years ago as he stressed that a decision from the US Congress on $60 billion in aid was needed within a month.

(4) A former deputy chairman in Rishi Sunak's ruling Conservative party has been suspended after growing pressure from within the party over his claim that London Mayor Sadiq Khan is controlled by "Islamists."

(5) Global trade ministers are gathering in Abu Dhabi for the World Trade Organization's summit, amid a tide of trade protection and questions over the WTO's relevance. 

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Your morning briefing, the business news you need in just 15 minutes. 

On today's podcast:

(1) Morgan Stanley shares fell the most in five months after a report that a cadre of US regulators are scrutinising the firm’s efforts to prevent potential money laundering by wealthy clients.

(2) The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts.

(3) The UK economy grew for a second month in February, suggesting a recovery from recession is now under way. Gross domestic product rose 0.1% from January, the Office for National Statistics said Friday, in line with the gain forecast by economists. 

(4) Ex-Federal Reserve Chair Ben Bernanke is set to deliver his verdict on the Bank of England’s forecasting process on Friday at noon London time. Ahead of publication time, we look at the three most important questions the review poses for markets

(5) Credit traders at Barclays and HSBC are among those making a market for clients to bet against the debt of Thames Water amid an escalating crisis at the UK’s largest water utility.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) New York Community Bancorp's credit grade was cut to junk by Moody's Investors Service less than a week after the regional lender alarmed shareholders by slashing payouts and stockpiling reserves to cover troubled loans tied to commercial real estate.

(2) Treasury Secretary Janet Yellen said that while losses in commercial real estate are a worry, US regulators are working to ensure that loan-loss reserves and liquidity levels in the financial system are adequate to cope.

(3) A rally in Chinese shares continued Wednesday, a sign of growing investor hopes for authorities to take more forceful steps to sustain a nascent market recovery.

(4)  UK lawmakers called on the Bank of England to rethink the way it's unwinding its quantitative easing stimulus program, saying asset sales the Treasury indemnified are now costing taxpayers 10s of billions of pounds.

(5) From the Glazer family at Manchester United to Todd Boehly and his Wall Street financiers at Chelsea, the American takeover of clubs in the Premier League isn't new. Yet below the world's richest competition, the footprint on the English game is deepening and widening — and raising even more questions over who will make money and who will lose it. 

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Your morning briefing. The news you need in just 15 minutes.
On today's podcast:
(1) Sunak secures a "breakthrough" deal with the EU on Northern Ireland's post-Brexit rules.
(2) Adani's CFO speaks exclusively to Bloomberg, saying the group isn't looking for a cash injection.
(3) An ECB policymaker tells us that the central bank must push on with policy tightening.(4) Elon Musk regains his crown as the world's richest person as the value of Tesla soars. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The last time US government bonds sold off this much as the Federal Reserve started cutting interest rates, Alan Greenspan was orchestrating a rare soft landing.

(2) Bank of America Chief Executive Officer Brian Moynihan has urged Federal Reserve policymakers to be measured in the magnitude of interest-rate reductions.

(3) UK Prime Minister Keir Starmer said Donald Trump’s legal complaint against his Labour Party over alleged election interference won’t jeopardize their relationship if the former president wins the US election next month.

(4) Deutsche Bank is seeking approval for further share buybacks after revenue at the investment bank rose and the lender largely settled a legacy dispute.

(5) Arm is canceling a license that allowed longtime partner Qualcomm to use Arm intellectual property to design chips, escalating a legal dispute over vital smartphone  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) US Equities 2024 Outlook: The Double Dip

2) Falling house prices could worsen the crunch facing households when they come to refinance their fixed-rate mortgage deals, according to research from the Bank of England.

3) South Korea’s early trade data show exports are likely to maintain their growth momentum this month, continuing their rebound from a year-long slump and helping brighten the outlook for global commerce.

4) Republican ultra-conservatives are running out of patience less than four weeks after installing one their own, Mike Johnson, as House speaker, signaling turmoil ahead and heightened risk of a government shutdown in the new year.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened after China announced retaliatory measures.

(2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.

(3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday.

(4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos.

(5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs.

(6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on the matter.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) China's central bank cuts rates as the country's economic headwinds multiply.

(2) US Treasury Secretary Janet Yellen warns China's slowdown will 'spill over' to the US.

(3) A Georgia Grand Jury indicts Donald Trump for attempting to overturn his election defeat.

(4) A technical issue leaves the Bank of England unable to process high value transactions for 6 hours.

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On today's podcast:
(1) The combined death toll from the conflict between Israel and Hamas is now over 2,000.

(2) Israel's military said it's building a base for thousands of soldiers in preparation for the next phase of its retaliation.

(3) Keir Starmer channeled the record and spirit of Blair in his pitch to be Britain's next leader.

(4) The Fed's Mary Daly says rates won't stay as high as they are now indefinitely. 

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On today's podcast:
(1) President Biden will travel to Israel tomorrow in a show of US solidarity with its closest ally in the Middle East.

(2) Russian leader Vladimir Putin has arrived in Beijing for China's Belt and Road Forum.

(3) The Bank of England Chief Economist Huw Pill says sticky inflation in the UK may require a long-lasting response.

(4) Reports suggest that Goldman Sachs CEO David Solomon has stopped his controversial hobby of DJing. 

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As dozens of countries worldwide have held national elections in the past year, a new global agenda has emerged that is focused more on trade and taxes, and less on environmental and cultural issues. That’s the conclusion of the first edition of the CEO Radar—a new tool that explores the leading topics discussed on almost 4,700 earnings calls worldwide in Q4 2024, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this first episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by Christoph Schweitzer, CEO of BCG, and Judith Wallenstein, head of BCG’s CEO advisory practice, to unpack the stories behind the data, based on their one-on-one conversations with CEOs.

This episode is sponsored by BCG.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) United Airlines says it found loose bolts in multiple Boeing 737 Max jets and Alaska Air indicated some loose hardware was visible on its fleet during checks following the latter's midair blowout.

(2) US Secretary of State Antony Blinken says Houthi militants in Yemen must know they'll face "consequences" for continued attacks on ships in the Red Sea, even as a top regional leader warned against military action by a US-led coalition.

(3) Barclays says its global headcount dropped by about 6% over 2023, the most visible sign yet of the bank's cost-cutting push.

(4) The UK Treasury is facing a hit of more than £10 billion per year as higher interest rates push up the cost of financing student loans, meaning the taxpayer will now take a loss even on debt that is fully repaid, new analysis shows.

(5) The crucial Christmas shopping period was weaker than expected in the UK as consumers burdened by higher inflation carefully watched their spend. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you in the coming week including an impending government shutdown, the start of the trial of Sam Bankman-Fried and a look to the political party conferences in the UK.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a preview of U.S PCE and GDP data, and a look ahead to Carnival earnings.
• In the UK -  a look at challenges for Europe’s chocolate industry ahead of Easter.
• In Asia -  a preview of BYD and China bank earnings.
  
  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you in the coming week including the Fed minutes, the energy problems sparked by Russia's war in Ukraine, President Biden's planned trip to Poland, and what next for the Bank of Japan.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) City firms reported a 72% surge in non-financial misconduct complaints over the last three years following a string of high-profile scandals including sexual harassment allegations leveled at hedge fund chief Crispin Odey.

(2) Prime Minister Keir Starmer says Britons who get additional income from stock holdings don’t count as ‘working people,’ suggesting he’s willing to raise taxes on investors.

(3) President Xi Jinping’s boldest economic stimulus since the pandemic failed to impress global luminaries gathered in Washington this week, who called for more measures to rebalance China’s growth and greater clarity over Beijing’s policy plans.

(4) European Central Bank Governing Council member Pierre Wunsch said it’s far too early to start considering a half-point interest-rate reduction in December. Views among European Central Bank officials about where to take monetary policy are starting to diverge as the institution’s 2% inflation target moves within close reach.

(5) Clearing houses pose a risk to the financial system if they are not robustly operated, Bank of England Governor Andrew Bailey said. (6) Fragmentation in Europe’s banking markets is leading to lower returns for shareholders and higher borrowing costs, according to UBS Group AG chief executive officer Sergio Ermotti.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

1) Earnings continue...one big company reporting this week is Nvidia. According to Bloomberg Intelligence...Nvidia is likely to report another beat in its fiscal 3Q earnings results and guidance.

2) In the UK: Chancellor of the Exchequer Jeremy Hunt likely has limited scope to ease fiscal policy in his upcoming Autumn Statement. Bloomberg Economics expects near-term growth and inflation impact of the Autumn Statement will be broadly neutral.

3) In Asia: The Biden administration’s decision to remove a Chinese organization from a sanctions list as part of a deal to combat the fentanyl crisis marks an unusual concession to Beijing’s complaints over US trade restrictions. 

4) In Washington: President Joe Biden signed a stopgap bill to extend government funding into early 2024, averting a government shutdown for now but kicking a politically-divisive debate over federal spending into a presidential election year.

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On today's podcast:
(1) UK police said they arrested six people over a plot to target the London Stock Exchange. Activists from the Palestine Action group were allegedly planning to cause damage to the LSE and to prevent the building from opening for trading Monday morning, the Met said in a statement. 

(2) UK Prime Minister Rishi Sunak will address Parliament on Monday after his government said it's ready to carry out further strikes on Houthi targets in Yemen if the group continues to attack commercial vessels in the Red Sea.

(3) As the Israel-Hamas war enters 100 days, the question remains whether it will spread from Gaza and turn into a wider conflagration. But with the appetite in Israel for war against Hezbollah growing and American influence on its ally seemingly waning, the answer is more likely to be found in Tel Aviv or Jerusalem than Beirut or Washington.

(4) Taiwan elected current vice president Lai Ching-te as leader of the global chip hub at the center of US-China tensions, putting in power a man Beijing has branded an "instigator of war."

(5) The US state of Iowa kicks off the race for the 2024 Republican presidential nomination today. Caucuses are set to take place this evening but there are fears sub zero temperatures of below -30 could dampen turnout. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) SCOOP: Jeremy Hunt's economic advisers worry the Bank of England risks hiking too far.

(2) The Fed raises rates to the highest level in 22 years, and no longer forecasts a recession.

(3) BNP Paribas, Barclays, and Shell are among the big names reporting results today.

(4) Britain's Met Office say 40 degree Celsius summers could become the norm by 2060. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump’s upcoming 25% tariffs on goods from Canada and Mexico and 10% duties on products from China are set to ricochet through households, raising prices for a wide range of items including vegetables, fruits and cars.

(2) Mexican President Claudia Sheinbaum said she will announce early Monday the details of her government’s “Plan B” to defend the country against US tariffs.

(3) As the leaders of Canada and Mexico rushed to respond after Donald Trump started a new trade war, Chinese President Xi Jinping took a breath before his nation announced any concrete retaliation.

(4) US President Donald Trump ramped up his tariff threats to the European Union while saying he would speak with the leaders of Canada and Mexico, as stock markets sank following a hectic weekend that saw prospects for a trade war turn into reality.

(5) Panama promised free passage for US warships through the Panama Canal and said it will withdraw from China’s signature lending program after Secretary of State Marco Rubio blasted the government during his visit on Sunday.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Asian stocks extended a rally in global equities as jobs data backed the view that the US economy is headed for a soft landing. The yen gained as the Bank of Japan left interest rates unchanged.

(2) The Bank of England has given Chancellor of the Exchequer Rachel Reeves a £4 billion ($5.3 billion) lifeline to help ease spending pressures ahead of what she has said will be a tough first budget.

(3) The UK’s Labour government is considering raising wealth taxes. Small businesses and farmers fear liquidation if relief is cut.

(4) French Prime Minister Michel Barnier met with President Emmanuel Macron in Paris late on Thursday to propose a new government after two weeks of tense consultations with rival political groups.

(5) UK government borrowing came in higher than forecast in the first five months of the fiscal year, keeping Chancellor Rachel Reeves under pressure to raise taxes to balance the books in her budget next month.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Israel launched airstrikes on targets across southern Lebanon, killing nearly 500 people in one of the deadliest days of fighting in nearly two decades and fanning fears of all-out war.

(2) China’s central bank unleashed an unprecedented blitz of policy support for the economy, as authorities made their boldest swing so far to hit this year’s annual growth target of about 5%, after a flurry of Wall Street banks downgraded their forecasts.

(3) Prime Minister Keir Starmer will try to reset the UK political narrative by promising “light at the end of this tunnel,” amid criticism that his Labour government’s gloomy economic messaging has made things worse.

(4) UniCredit Chief Executive Officer Andrea Orcel used Barclay and Bank of America to help him quietly build up a stake in Commerzbank, a move that has shaken European finance and triggered a backlash from the German government.

(5) A handful of Federal Reserve officials on Monday left open the door to additional large interest-rate cuts, noting that current rates still weigh heavily on the US economy. 

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Your morning briefing, the business news you need in just 15 minutes. 

 On today's podcast:

(1) UBS smashed banking profit records in the second quarter and announces plans to eliminate about 3,000 Swiss jobs.

(2) The Chinese developer Country Garden has warned that it may default on its debt and raised concerns about staying in business.

(3) Sources tell Bloomberg Apple is testing the use of 3D printers to produce the steel cases for some of its upcoming smart watches.

(4) Elon Musk's social media network X is planning to gather more data from users than ever before. 

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Slovak Prime Minister Robert Fico suffered life-threatening injuries after being shot in public, the first assassination attempt on a European leader in more than two decades that underscores the deep polarization in the country.

(2) Chinese President Xi Jinping signaled to Vladimir Putin that ties between the two nations remain strong, as the Russian leader embarks on a new term with the war in Ukraine dragging into its third year.

(3) The US Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday. Wall Street traders sent stocks to all-time highs as bond yields slumped after an inflation slowdown reinforced bets the Federal Reserve will cut interest rates as early as September.

(4) Ben Bernanke said there is growing interest within the Bank of England over publishing its own interest-rate projections, one of the strongest signals yet that the central bank is mulling a major communications shake-up. 

(5) HSBC is leaning towards appointing its next chief executive officer from a shortlist of internal candidates as it begins its hunt for a successor to outgoing boss Noel Quinn.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1)Nvidia Corp. failed to live up to investor hopes with its latest results on Wednesday, delivering an underwhelming forecast and news of production snags with its much-awaited Blackwell chips.

(2) OpenAI is getting closer to raising funding at a valuation of more than $100 billion in a round led by Thrive Capital, people with knowledge of the matter said.

(3) Pavel Durov, the chief executive officer of Telegram, was charged in France for complicity in the spread of sexual images of children and other crimes such as drug trafficking on the messaging app.

(4) Israel launched a large-scale military operation in the West Bank to combat what the army said was terrorist activity, the latest surge in hostilities in the Palestinian area since the start of the war in Gaza.

(5) Britain’s Labour government has been urged to stick to its plan for higher taxes on wealth, even as business groups and advisers to the rich call for restraint. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Germany’s conservative opposition leader Friedrich Merz said he’ll move quickly to form a new government after he won Sunday’s federal election with a result that will require him to form a coalition.

(2) The far-right Alternative for Germany vaulted into second place on Sunday after about a fifth of voters cast their ballot for a party that’s called for a halt to migration and assailed the country’s political establishment.

(3) Germany’s highest-stakes election in years is paving the way for a pivot to increased spending, with markets predicting the end of an era for constrained fiscal policy.

(4) Two of President Donald Trump’s top advisers declined to describe Russia as the aggressor in the war in Ukraine, as the administration seeks Vladimir Putin’s support for a peace deal.

(5) UK families are tapping the equity locked up in their homes and taking out other lines of credit to meet the escalating costs of private education.

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) Shares in Meta have dropped by as much as 19% in after-hours trading, after the social media giant said it plans to spend billions of dollars more than expected this year.

(2) The world's largest mining company, BHP Group, has made a takeover approach for rival Anglo American, a move that could spark the biggest shakeup in the industry in over a decade.

(3) BNP Paribas fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank.

(4) Deutsche Bank relied on its traders and investment bankers to make up for a slowdown in income from lending, as Chief Executive Officer Christian Sewing seeks to deliver on an ambitious revenue goal.

(5) President Joe Biden signed a $95 billion national security package into law and said assistance to Ukraine would begin to move within "hours," capping off a bruising fight with Republicans over long-delayed assistance for Kyiv and other besieged US allies.

(6) Now that President Joe Biden has signed off on a law that could expel TikTok from the US market, Beijing must decide how best to retaliate over an attack on the world's most-valuable start-up.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a preview of next week’s Fed decision and U.S tech earnings.
• In the UK – a preview of next week’s ECB decision.
• In Asia – a preview of next week’s RBA decision and a look at U.S-China trade relations.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Fed officials suggest inflationary risks may drive further interest rate hikes.

(2) China's housing slump is much worse the official data shows.

(3) Argentina's leading presidential candidate tells Bloomberg he wants to close the country's central bank.

(4) London's luxury home sellers cut asking prices to keep deals alive. 

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Your morning briefing, the business news you need in just 15 minutes.

On today’s podcast:

(1) Israeli troops entered Gaza's Shifa hospital compound as part of a "precise and targeted operation" against Hamas that runs the risk of raising international ire if it ends up causing more civilian casualties. 

(2) The White House is getting increasingly frustrated with Israel's conduct of the war against Hamas as the civilian death toll mounts and the administration's calls go unheeded, widening a rift between the close allies.

(3) JPMorgan CEO Jamie Dimon said that people are over-reacting to short-term numbers "and they should stop doing that." 

(4) Citadel founder Ken Griffin said the Federal Reserve risks a hit to its reputation if it cuts interest rates too quickly.

(5) Former UK Home Secretary Suella Braverman accused Rishi Sunak of betraying the public and breaking his promise to clamp down on immigration, in an explosive letter.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Former President Donald Trump is safe after his Secret Service detail opened fire at a man who was wielding an assault rifle at his West Palm Beach, Florida, golf course Sunday, in what the Federal Bureau of Investigation called an apparent assassination attempt.

(2) Back in January, Premier Li Qiang trumpeted China’s success in exceeding its 2023 growth goal without resorting to “massive stimulus.” Repeating the same feat this year now looks less likely.

(3) The Bank of England looks set to stick to its tentative interest-rate cutting when it meets this week, defying skepticism from a growing cohort of investors who see a need for more aggressive action.

(4) Italy and the UK are poised to reaffirm their pledge to defend Ukraine as Prime Minister Keir Starmer travels to Rome to seek support for a proposal to let Kyiv use non-US long-range weapons against Russia.

(5) Widespread flooding in central and eastern Europe from days of unrelenting rain is playing havoc with rail transportation and causing more evacuations of residents as well as damage to homes and infrastructure. 

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Listen to the 'Here's Why' podcast:  -  on Apple: https://apple.co/3Lg3RGn  -  on Spotify: https://spoti.fi/3LiIX9q  -  or Anywhere: https://bit.ly/3xYsHHy.    

Each episode of 'Here's Why' uses experts at Bloomberg to explain one news story in just a few minutes.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we look ahead to Friday's December jobs report. Bloomberg Economics says the data should show job growth resuming its slowdown and the unemployment rate edging up.

In the UK -  consumers are feeling the pinch from the higher cost of living - but they're still spending enough to fuel London's restaurant and cultural scenes. The weaker pound versus the dollar has also helped attract more big-spending tourists, particularly from the US. We check in on the restaurant scene. 

In Asia -  as 2023 comes to a close, we take a look at what's ahead for markets in China, India and Japan in 2024. 

In Washington - while our attention is focused on the presidential election in 2024, a possible government shutdown and other disruptions loom.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) A senior Hamas leader was killed by Israel in an explosion in Beirut, according to the Palestinian militant group, raising fresh concerns of a regional escalation of the war in Gaza.

(2) Container shipping giant Maersk says it will once again stop letting its vessels sail through the Red Sea, a vital trade corridor, after another of its carriers came under attack in the space of a few weeks.

(3) Apple got itself a new bear as expectations of soft demand for its latest iPhone prompted analysts at Barclays to downgrade the stock. Shares fell 3.6% on Tuesday, their biggest one-day percentage drop since September, and the decline erased more than $107 billion in market value.

(4)  Tesla delivered more vehicles than expected in the fourth quarter, though not enough for the Elon Musk-led company to stay ahead of China's BYD Co. in global electric-car sales.

(5) Claudine Gay is stepping down as president of Harvard University, ending a brief and tumultuous tenure marred by allegations of plagiarism and a campus controversy over antisemitism. 

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Your morning business briefing. The news you need in just 15 minutes.

On today's podcast:
(1) The UK's leading index has hit a record high, but is that as good as it gets?
(2) Tensions rise as the US shoots down what they say is a Chinese spy balloon.
(3) The Fed's Mary Daly reacts to red hot US job growth but sees no reason to change course.
(4) Daybreak Europe sits down for an exclusive chat with the Lord Mayor of London and Tokyo Governor

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) President Vladimir Putin refused to give Donald Trump the 30-day ceasefire in Ukraine he and his team had demanded on the path toward ending the three-year conflict. It was still good enough for the US president.

(2) Morgan Stanley is planning to cut about 2,000 employees later this month in the first major workforce reduction under Chief Executive Officer Ted Pick.

(3)  German lawmakers passed a landmark spending package, taking a major step toward unlocking hundreds of billions of euros in debt financing for defense and infrastructure and heralding the end of decades of budget austerity.

(4) The Bank of Japan signaled growing unease over the potential impact on the global economy from escalating trade tensions, while keeping its key policy rate unchanged.

(5) UK Prime Minister Keir Starmer’s move to cut disability benefits sets the scene for a showdown with the left of his governing Labour party as he seeks to prioritize fiscal prudence over social policy.

(6) Two NASA astronauts stuck in orbit for nine months finally returned to Earth in a SpaceX craft, capping a saga that captured international attention and deepened America’s reliance on the Elon Musk-led company.

(7) In France, rising taxes and political turmoil are having a chilling effect on the financial sector. Since last summer, international banks in Paris have quietly shelved expansion plans, after years of building its role as Europe's post-Brexit financial center.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Tesla reported its fourth straight quarter of disappointing profits on Tuesday, and Chief Executive Officer Elon Musk made clear that better days are still a ways off.

(2) Google parent Alphabet reported second-quarter revenue that exceeded analysts’ expectations, boosted by demand for cloud-computing services and advertising on its search engine.

(3) LVMH sales growth slowed last quarter as wealthy shoppers reined in spending on pricey Louis Vuitton handbags and Christian Dior couture.

(4) Vice President Kamala Harris assailed Republican Donald Trump in her first rally since launching her bid for the White House, characterizing their contest as a choice between two starkly divergent agendas for the US economy.

(5) The UK’s new prime minister Keir Starmer has suspended the party whip from seven of his own MPs after they backed a rebel amendment to scrap Britain’s two-child cap on welfare payments, the first rebellion he’s faced in the House of Commons since winning power. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) iPhone sales slump at Apple as revenue declines yet again.

(2) BOE governor Andrew Bailey says it's 'far too soon' to bet on a rate cut.

(3) Trump pleads not guilty to obstructing the 2020 election.

(4) We speak to one of the designers of the Twitter bird logo after it's replaced by X. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look at what the Federal Reserve accomplished in 2024 and what to expect in 2025.
• In the UK – a look at what's on the horizon for Europe's stock market.
• In Asia – a look at some of the potential themes for Asian markets in the year ahead. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) UK Chancellor Rachel Reeves will pledge to “rebuild Britain” with her first budget, an historic moment that will include a major package of tax hikes and extra borrowing likely to define British politics for the rest of the decade.

(2) UBS posted third quarter results that broadly beat expectations, while warning of headwinds ranging from the US elections to falling interest income.

(3) The European Union has imposed higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.

(4) Google parent Alphabet showed on Tuesday that an expensive foray into artificial intelligence is starting to pay off, delivering better-than-expected traction for its cloud computing business and driving more usage for its flagship search engine.

(5) Advanced Micro Devices slid in late trading after the chipmaker’s revenue forecast missed analysts’ estimates, a sign its artificial intelligence sales are growing more slowly than some had anticipated.

(6) Democratic presidential candidate Kamala Harris argued a second Donald Trump presidency would be steeped in chaos and division — but not focused on Americans’ needs — as she looked to rally voters from the National Mall one week before Election Day. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Reports from the Financial Times suggest Apple is slashing production forecasts for its mixed-reality headset.

(2) Tesla sets a delivery record as Musk's price cut strategy pays off.

(3) France deploys 45,000 police officers for a third night as Macron pushes to end riots and looting.

(4) Yellen gets set to travel to Beijing as the world's largest economies look to rebuild relations.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1)  Federal Reserve officials maintained their outlook for three interest-rate cuts this year and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation.

(2) The Bank of England is likely to keep interest rates at a 16-year high, giving more time for inflationary pressures to cool before it loosens up on the quickest tightening cycle in decades.

(3) Anxious employees at Fidelity International, a globe-spanning business based in Bermuda and run out of London, began eying the door. 

(4) The sudden exit of Prime Minister Leo Varadkar leaves Ireland at a crossroads. Unaffordable housing, inequality and political pressures linked to immigration give the nationalist Sinn Fein party an opportunity to take power for the first time in 2025, or sooner.

(5) Reddit and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, the second big tech listing in as many days.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Israel’s Prime Minister Benjamin Netanyahu said an agreement with Hamas to pause the war in Gaza has been finalized, suggesting it’s on track to begin on Sunday.

(2) China’s economy hit the government’s growth goal last year after an 11th hour stimulus blitz and export boom turbocharged activity, although looming US tariffs threaten to take away a key driver of expansion.

(3) Nigel Farage said Reform UK isn’t anti-immigration and advocated a mixture of tax and spending cuts as he sought to put a more moderate face on his insurgent party in a bid to take it from the political fringes to challenge for power.

 
(4) Rio Tinto and Glencore have been discussing combining their businesses, which if successful would rank as the largest-ever mining deal and create a behemoth to rival longstanding leader BHP.

(5) Treasury Secretary nominee Scott Bessent is on track to be confirmed following a confirmation hearing Thursday lacking the theatrics some of his would-be Trump administration colleagues have faced, with questions largely keeping to policy issues like the federal budget and trade tariffs.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) President Joe Biden delivered an emotional and bittersweet call for Democrats to rally behind Kamala Harris, as his party used the first night of its national convention in Chicago to celebrate his presidency while simultaneously passing the torch to a new generation.

(2) British tech entrepreneur Mike Lynch is among those missing after a luxury yacht was struck by a tornado and sank off the coast of Sicily.

(3) US intelligence agencies said they were “confident” that Iran was behind a recent hack of former President Donald Trump’s presidential campaign, casting the intrusion as part of an increasingly aggressive effort by the Islamic Republic to disrupt the November election.

(4) US Secretary of State Antony Blinken said Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to halt the war in Gaza and the next step is for “Hamas to say yes,” putting the onus on the group to end the 10-month conflict even as violence continued.

(5) The UK government signed off on London City Airport’s plan to grow passenger numbers by nearly a third, angering environmental campaigners who say it will increase carbon emissions. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you in the coming week including the coming jobs report, big annual economic in the south of France, closely-watched AI conference in Shanghai, and a look at what Fed officials are really thinking.

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Rishi Sunak’s government is preparing to get the first deportation flights to Rwanda off the ground by July after the UK prime minister’s flagship law to declare the African nation a “safe” destination for asylum seekers cleared its final hurdle in Parliament.

(2) The UK will send more Storm Shadow long-range missiles to Ukraine as part of its single biggest military aid package to the country since Russia’s invasion, Prime Minister Rishi Sunak said.

(3) Goldman Sachs' head of dealmaking for financial institutions in Europe, the Middle East and Africa has relocated to Paris and is planning to double headcount for his team in the city as M&A between banks and insurers accelerates.

(4) The FTSE 100 Index closed at a record high for the first time in more than a year, as recent equity market volatility and geopolitical risks prompted investors to pile into the defensive sectors that characterise the UK benchmark.

(5) Some investors and analysts are questioning whether CEO François-Henri Pinault is the right man to overhaul Gucci’s parent Kering at this critical juncture. 

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) CMA Chief Executive Sarah Cardell joins to discuss Microsoft's new submission for its Activision bid
(2) The UK-based tech giant Arm has filed to list its shares on the Nasdaq, in what's set to become the biggest US stock market launch of the year.
(3) S&P has followed Moody's in downgrading and cutting the outlook for a slew of US banks.
(4) It's been reported that Elon Musk told Pentagon officials he had personally spoken with Vladimir Putin in October. 

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.  

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US - a presidential election preview and FOMC Meeting
• In the UK - Bank of England decision preview
• In Asia - Japanese autos earnings

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a preview of next week’s Fed decision and earnings from Nike.
• In the UK – a preview of the Bank of England’s monetary policy decision.
• In Asia – a look ahead to upcoming economic data in China.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Nvidia, the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.

(2) President Donald Trump on Wednesday gave a series of apparently contradictory answers about his plans to enact tariffs on Canada and Mexico, as well as the European Union.

(3) At home, UK Prime Minister Keir Starmer has framed his trip to meet Donald Trump as a bid to save Ukraine and the trans-Atlantic alliance. At the White House, he’ll argue that the US president needs Europe to come out a winner.

(4) US Director of National Intelligence Tulsi Gabbard called for an investigation and expressed concern after the UK government ordered Apple Inc. to build a backdoor into the global data of its customers.

(5) Chancellor of the Exchequer Rachel Reeves said the British government wants to boost commerce with the US, its biggest single-country trading partner, even as President Donald Trump threatens widespread trade tariffs.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Bond traders are taking on a record amount of risk as they bet big on a Treasury market rally fueled by expectations the Federal Reserve will embark on its first interest-rate cut in more than four years.

(2) Barack and Michelle Obama delivered blistering critiques of Republican nominee Donald Trump while painting Vice President Kamala Harris as the heir of their historic political legacy in addresses that capped the second night of the Democratic National Convention.

(3) After two days of search-and-rescue efforts, British tech entrepreneur Mike Lynch, Morgan Stanley International chairman Jonathan Bloomer and four others were feared dead aboard the sunken wreckage of a luxury yacht off the coast of Sicily.

(4) Keir Starmer’s government pledged to increase deportations of people with no legal right to stay in the UK to the highest rate in five years, an effort to show it is responding to Britons’ concerns about rising immigration.

(5)  Secretary of State Antony Blinken left the Middle East late Tuesday having failed to secure a deal to halt fighting between Hamas and Israel, highlighting how the two sides remain sharply divided despite US officials’ insistence that an agreement is close.

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On today's podcast:
1) President Joe Biden said Israel and Hamas militants ought to “pause” fighting in order to allow time to free hostages being held in the Gaza Strip, but stopped short of supporting a full cease-fire.
2) A further 600 foreigners are expected to leave via the Rafah crossing to Egypt after diplomatic efforts led to a limited opening of the border.
3) Federal Reserve Chair Jerome Powell hinted the US central bank may now be finished with the most aggressive tightening cycle in four decades after it held off on raising interest rates for a second consecutive policy meeting.
4) An Exclusive interview: Barclays chief executive officer C.S. Venkatakrishnan tells us he plans to spare its Asia business from the bulk of job cuts as the British bank embarks on a reduction in its global workforce.
5) Transport services across the UK, France and the Netherlands are facing disruption due to high winds and heavy rain from Storm Ciarán. 

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) UK Inflation set to dip below 10% as peak rates loom.

(2) Prometheus is snapped up by Merck for $10.8bn.

(3) Barclays reportedly cuts more than 100 investment banking jobs.

(4) Traders tell school leavers to look to tech rather than finance. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The UK will suspend some arms licenses to Israel after concluding the use of British components in Gaza risks violating international humanitarian law, Foreign Secretary David Lammy said, in a break from allies.

(2) Volkswagen AG is considering factory closures in Germany for the first time in its 87-year history, parting with tradition and risking a feud with unions in a step that reflects the deep woes roiling Europe’s auto industry.

(3) Hewlett Packard Enterprise Co. said it intends to pursue the $4 billion damages claim in London against the estate of the recently deceased British tech tycoon Mike Lynch.

(4) London lags behind other major global cities when it comes to working in the office, raising concerns about both productivity and the British capital’s appeal as an international investment destination.

(5) European officials expect Iran to deliver ballistic missiles to Russia imminently, a move that could prompt a swift response from Ukraine’s allies, people familiar with the matter said. 

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In this bonus episode, UK Prime Minister Rishi Sunak speaks on a panel titled 'The UK in the World', moderated by Bloomberg's Maria Tadeo at the Munich Security Conference on February 18th, 2023.

Sunak says there is no deal yet on the Northern Ireland protocol, and NATO allies should finalize a security guarantee for Ukraine when the alliance’s leaders meet at a summit in July.

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