Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) Confronted with fresh warnings from financial markets, business leaders and top advisers, President Donald Trump this week eased off on two of his frequent punching bags: Jerome Powell and China.He turned down his aggressive rhetoric a day after meeting with executives from Walmart Inc., Home Depot Inc. and Target Corp., who said import taxes could disrupt supply chains and raise the prices of goods, according to people familiar with the matter

 (2) Citadel founder Ken Griffin said President Donald Trump’s trade war has derailed business leaders’ plans to spend the next four years focusing on growth.
Griffin had previously criticized Trump’s tariffs even though he said he agrees with the president’s assessment of the issues that the US faces. 

(3) President Trump has mused that he could announce tariff rates for countries, including China, “over the next two to three weeks.” At the same time, Trump said the deadline would ultimately depend on whether China engaged.

(4) The UK isn’t in a hurry to strike a deal with the US that lowers the tariffs President Donald Trump’s administration has slapped on British imports, Chancellor of the Exchequer Rachel Reeves said, highlighting that Britian is prepared to stand by red lines on safety standards.

(5)  BNP Paribas SA reported record income from equities trading as the French lender rode the global market volatility in the first quarter of this year. The French lender on Thursday reported a 42% surge in equities trading revenue to €1.19 billion ($1.35 billion) in the three months through March, beating even the most optimistic analyst estimate. It was also the highest in data compiled by Bloomberg and going back to 2007. 

(6) Companies moving office in London last year leased more expansion space than they have done since 2019, just the year before the coronavirus pandemic upended white-collar working practices and sent shock waves through commercial real estate markets.

(7) Podcast conversation: Gyms Might Never Be the Same

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On today's podcast:

(1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.

(2) US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.

(3) Federal Reserve Governor Adriana Kugler said tariffs will likely put upward pressure on prices and have a bigger economic effect than previously expected.

(4) The head of International Monetary Fund warned that the chances of global recession will rise if uncertainty over a US-led trade war continues to drag.

(5) UK Chancellor of the Exchequer Rachel Reeves will make a personal appeal for a trade deal to US Treasury Secretary Scott Bessent in Washington this week, aiming to “defend British interests” and secure preferential treatment on tariffs.

(6) Elon Musk vowed to pull back “significantly” from his work with the US government to concentrate on Tesla, easing concerns of investors who lamented his time in Washington as a distraction.

(7) Podcast conversation: Unwind Like a Boss

Illustration: Bloomberg/Getty

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On today's podcast:

(1) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.

(2) Stocks and bonds fluctuated, and a gauge of the dollar headed for a fourth day of losses as little progress in tariff negotiations and growth concerns about the US prompted investors to pare bets in a volatile market.

(3) Bloomberg Economics estimates President Trump's "liberation day" tariffs will shave about $2 trillion off global output by the end of 2027, relative to a scenario where border taxes had stayed unchanged. Policy uncertainty (it's still not clear where tariffs will settle) and modelling uncertainty (the shocks have no precedent in the post World War II data) mean the error band around that forecast is wide.

(4) The US set new duties as high as 3,521% on solar imports from four Southeast Asian countries, delivering a win for domestic manufacturers while intensifying headwinds already threatening the country’s renewable power development.

(5) The College of Cardinals will meet in Conclave in about two weeks to elect Francis' successor, with about 135 cardinals having the vote. The election could threaten Francis' legacy as a reforming pope, as the church could swing away from his positions on issues such as LGBTQ rights.

(6) Podcast conversation : Building a Better Manosphere

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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 home sales data and Tesla earnings.
• In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market.
• In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs.

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(1) US investors could be forced to offload around $800 billion of Chinese equities “in an extreme scenario” of financial decoupling between the world’s two largest economies, Goldman Sachs Group Inc. estimates.

(2)  The Trump administration is preparing to pressure nations to curb trade with China in negotiations over US tariffs, according to people familiar with the matter.

(3) Federal Reserve Chair Jerome Powell again stressed the central bank must ensure tariffs don’t trigger a more persistent rise in inflation. Powell said policymakers would balance their dual responsibilities of fostering maximum employment and stable prices.

(4) Economic data just confirmed what anecdotal evidence had suggested: Consumers are rushing to make major purchases of cars, electronics and appliances in an attempt to get ahead of tariffs that could raise prices.

(5) Gold hit another all-time high as warnings from Federal Reserve Chief Jerome Powell about the impact of the trade war fueled volatility on Wall Street, leading to sharp declines in stocks and the dollar.

(6)  Vladimir Putin has ordered his government to draw up a new legal framework for companies seeking to invest in Russia. It’s the most concrete sign yet that Moscow is preparing for a day when it believes sanctions will be lifted and some investment welcomed back. But, said one Kremlin official, “nobody is knocking on the door yet” underlining the tentative nature of the approaches taken by companies — some of whom never fully left — to restoring their operations in the country, as US President Donald Trump pushes for a deal to end Russia’s war in Ukraine.

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On today's podcast:

(1) China’s economy showed surprising strength in early 2025 with a sharp uptick in March, though a trade impasse with Donald Trump has prompted calls for stimulus to offset the tariff shock.

(2) President Donald Trump called on China to reach out to him in order to kick off negotiations aimed at resolving the escalating trade fight between the world’s two largest economies.

(3) President Donald Trump’s administration has barred Nvidia from selling its H20 chip to China, an escalation of Washington’s tech battle with Beijing that will cost the company billions of dollars and hamstring a product line it explicitly designed to comply with previous US curbs.

(4) Import prices for March came in soft – but not soft enough. Bloomberg Economics's calculations of tariff-inclusive import prices indicate that, two months into Trade War 2.0, US importers have borne the brunt of almost all the tariffs so far.

(5) Americans are increasingly looking for jobs in Britain amid President Donald Trump’s funding cuts and a darkening economic outlook.

(6) Donald Trump's push to reshape global trade and security has shocked European markets into life, driving investors to assets from stocks to bonds and the euro, in a way few could have imagined even 6 months ago.

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On today's podcast:

(1) “The president has been very clear that he’s willing to talk to his counterpart,” US Trade Representative Jamieson Greer tells Fox News about Donald Trump and Chinese leader Xi Jinping.

(2) President Donald Trump’s administration pressed forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating trade probes led by the Commerce Department.

(3) Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation that foreign nations were dumping their holdings of US Treasuries, while flagging that his department has tools to address dislocation if needed.

(4) European Commissioner for Trade and Economic Security Maros Sefcovic met with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer today in DC, “seizing the 90-day window for a mutual solution to unjustified tariffs,” he says in a post on X.

(5) UK households increased their spending in March as consumer demand defied an imminent rise in household bills, according to reports from the British Retail Consortium and Barclays.

(6) The Trump administration followed through on its threat to pull federal funding from Harvard University hours after the oldest and richest US college refused to agree to a list of government demands.

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On today's podcast:

(1) President Donald Trump pledged he will still apply tariffs to phones, computers and popular consumer electronics, downplaying a weekend exemption as a procedural step in his overall push to remake US trade.

(2) Strategists at Goldman Sachs Group cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions with the US.

(3) The dollar fell for a fifth day as traders looked past a reprieve on the imposition of certain electronic tariffs and after President Donald Trump downplayed his exemption for the technology sector.

(4) Treasuries gained after last week’s rout as President Donald Trump paused import duties on a range of consumer electronics. Investors also await speeches from Fed officials Christopher Waller and Patrick Harker.

(5) British companies’ finance chiefs had adopted their most defensive positions since the pandemic even before US President Donald Trump’s tariffs sent global markets into a tailspin.

(6) UK officials are rushing to secure the raw materials needed to keep Britain’s last primary steel manufacturer running, with other businesses offering to provide help.

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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 Retail sales and earnings from Netflix.
• In the UK – a look ahead to next week’s ECB meeting.
• In Asia – a look ahead to earnings from TSMC.

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On today's podcast:

(1) Less than 24 hours after President Donald Trump backtracked on his once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar yet again as fears of a worldwide recession engulfed Wall Street.

(2) The dollar extended losses after its biggest plunge in three years, with the cost of hedging against further slides climbing to the highest since the Covid pandemic shuttered cities in early 2020.

(3) President Donald Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the White House clarified US tariffs on China rose to 145%.

(4) Top European Union officials are making plans to visit China for a meeting with President Xi Jinping, the South China Morning Post reported — a sign Brussels may be keen to develop better ties with Beijing amid the Trump administration’s tariff onslaught.

(5) Federal Reserve Bank of Chicago President Austan Goolsbee said tariffs are a “stagflationary shock” and they pit the central bank’s goals of price stability and full employment against one another.

(6) A sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot.

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On today's podcast:

(1) President Donald Trump announced a 90-day pause on higher tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.

 
(2) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the globe into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.

(3) China’s top leaders are poised to meet Thursday to discuss additional economic stimulus after US President Donald Trump ratcheted up tariffs, according to people familiar with the matter.

(4) President Donald Trump called the bond market a thing of beauty on Wednesday. For traders of government debt, the day meant pure mayhem.

(5) The murmurs spread quietly at first, then exploded into a roar as the news hit — President Donald Trump was pausing the bulk of his tariffs and putting his global trade war on hold. Mostly.

(6) The UK housing market is in danger of being “blown off course” by US President Donald Trump’s trade war, estate agents warned after activity weakened sharply last month.

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On today's podcast:

(1) US President Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with US allies, but his insistence on pushing forward with 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.

(2) Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks, and reiterated his optimism about the growth of the world’s second-largest economy in 2025, despite the latest tariff threat from US President Donald Trump.

(3) For the better part of a day, it seemed as if the panic that Donald Trump’s trade war unleashed had largely subsided as US equities built on strong rallies in Asia and Europe.

(4) President Donald Trump’s steeper-than-expected tariffs have traumatized financial markets and triggered recession fears all over the world.

(5) President Donald Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.

(6) “We are going to be announcing very shortly a major tariff on pharmaceuticals,” President Donald Trump says at a National Republican Congressional Committee Dinner.

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On today's podcast:

(1) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies.

(2) Japan looks set to get priority in US tariff talks, moving to the front of a long line of countries seeking to roll back President Donald Trump’s so-called reciprocal duties, which are scheduled to kick in on Wednesday.

(3) President Donald Trump threatened to slap China with an additional 50% import tax, while Washington and Wall Street remained engulfed in confusion about how to gain exceptions from his sweeping global tariffs.

 
(4) At just after 10 a.m., shouting erupted on the Siebert trading floor in downtown Manhattan. Mark Malek, the firm’s chief investment officer, rushed out of his office to hear his head trader screaming that President Donald Trump was weighing suspending the across-the-board tariff roll-out that had been sinking stock markets for days.

(5) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration.

(6) European Union trade ministers closed ranks and signaled readiness to deploy a full spectrum of countermeasures including potential taxes on digital companies in response to US President Donald Trump’s sweeping tariffs.

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On today's podcast:

(1) European stocks plunged, dropping to the lowest since December 2023 on the back of Donald Trump’s tariff announcements, with Germany’s DAX Index falling as much as 10%.

(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) 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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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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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 – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted.
• In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system.
• In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations.

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

On today's podcast:

(1) Asian shares fell to the lowest level in two months, extending a global selloff in stocks after President Donald Trump’s latest tariff measures drove investors into haven assets.

(2) All across the world, as sell orders lit up screens on trading floors from Tokyo to London and New York, a sobering reality took hold: Donald Trump is serious about upending the global trading system — and it appears, at least for now, that fears of a stock-market crash won’t stop him.

(3) President Donald Trump’s big tariff rollout was supposed to reduce uncertainty for businesses. Economists say it did the exact opposite, while also raising recession risk.

(4) President Donald Trump said he was open to reducing his tariffs if other nations were able to offer something “phenomenal,” indicating that the White House was open to negotiations despite the insistence of some top officials.

(5) French President Emmanuel Macron was quick to respond to US President Donald Trump’s punitive tariffs on the European Union by urging businesses in the world’s largest trading bloc to halt spending on the US.

(6) US officials have told their UK counterparts they’ll discuss Britain’s proposal to reduce tariffs below 10%, but warned them President Donald Trump may decide that number is his permanent baseline for all countries, according to British officials familiar with the matter.

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On today's podcast:

(1) President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth.

(2) An aggressive suite of tariffs announced Wednesday by President Donald Trump will significantly complicate the Federal Reserve’s job as it struggles to quash inflation and avoid an economic downturn, likely keeping officials in wait-and-see mode.

(3) China vowed to retaliate after being hit with Donald Trump’s biggest tariffs yet, which threaten to decimate trade between the world’s largest economies.

(4) The European Union is preparing a package of potential emergency measures to support parts of its economy that could be hit the hardest by US President Donald Trump’s sweeping tariffs, according to people familiar with the matter.

(5) The UK refrained from retaliation and said it would maintain its push for a US trade deal after President Donald Trump slapped tariffs of 10% on all imports from Britain as part of a wider global package which he dubbed “Liberation Day” for his country.

(6) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.

(7) President Donald Trump announced a significant increase in tariffs on imports from the US's trading partners, sparking a rapid and painful market impact.

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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 deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil on Wednesday afternoon.

(2) Federal Reserve Bank of Chicago President Austan Goolsbee warned of the negative consequences of any slowdown in consumer spending or business investment due to tariff-related uncertainty.

(3) The UK government is bracing for US tariffs set to be outlined this week by President Donald Trump to hit the British economy, even as the two governments continue talks on a potential carve-out.

(4) The White House is preparing an estimate of what it would cost the federal government to control Greenland as a territory, the most concrete effort yet to turn President Donald Trump's desire to acquire the Danish island into actionable policy.

(5) Elon Musk’s candidate faced a resounding loss in a Wisconsin judicial race despite the world’s richest man pouring millions into the campaign, while Republicans avoided upsets in two critical US House seats in Donald Trump’s home state of Florida.

(6) As US President Donald Trump prepares to launch a new wave of levies aimed at reducing America’s trade deficits and bringing manufacturing back to home soil, pharmaceuticals are high on the list of targets. 

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On today's podcast:

(1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.

(2) US automakers are making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.

(3) French far-right leader Marine Le Pen lashed out at the decision to bar her from running for elected office for five years, saying it effectively eliminated her from the 2027 presidential race.

(4) The rising price of store cupboard staples and alcoholic drinks has lifted UK food inflation to a nine-month high, as the country’s Labour government faces growing political pressure over living costs.

(5) A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in years.

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On today's podcast:

(1) Global equities sold off for a fourth day as concerns about the economic impact of the trade war intensified before Donald Trump unveils more tariffs this week.

 
(2) Japan’s blue-chip Nikkei 225 Stock Average slumped to enter a technical correction as exporter- and chip-related stocks slid on concerns about the global trade war.

(3) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2.

 
(4) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs.

(5) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.

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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 plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. 

(2) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs.

(3) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.

(4) Global equities sold off for a fourth day ahead of President Donald Trump unveiling a fresh round of tariffs and mounting concerns about economic impact from a global trade war.

(5) This was a historic quarter for European stocks. Investors are now wondering if there will be an encore. Doubts have grown around the US exceptionalism trade due to uncertainty from Donald Trump’s tariff policies and government job cuts — and Europe is emerging as a beneficiary.

(6) Major players in the foreign exchange market are concerned about a potential system-wide crisis due to a "liquidity mirage" that creates the illusion of market depth, while actual liquidity is drained away.

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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 US March jobs and a look at the potential impact of auto tariffs. 
•    In the UK – an assessment of NATO's position amid growing global tensions.
•    In Asia – a preview of the Reserve Bank of Australia's next rate decision. 

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

(1) President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, expanding a trade war designed to bring more manufacturing jobs to the US and setting the stage for an even broader push on levies next week.

(2) The European Union expects the US to apply a double-digit tariff rate across the bloc when President Donald Trump announces a sweeping package of so-called reciprocal duties on April 2.

(3) Across Wall Street, the world’s leading mergers and acquisitions advisers are sounding the alarm: the Donald Trump-driven deals boom they’d all been dreaming of isn’t happening yet.

(4) UK Chancellor Rachel Reeves did the minimum to preserve her credibility with markets by restoring her fiscal buffer to exactly where it was in October. In doing so, she ensured she would remain a hostage to fortune for months to come.

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

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves will blame global economic headwinds as she slashes UK government spending by billions of pounds, in the face of growing criticism from within her own Labour Party that she risks alienating voters.

(2) Fresh doubts over the accuracy of Britain’s official data have been raised by economists, who warned that the problems first seen in the labor market figures are “just the tip of the iceberg.”

(3) The US said Russia and Ukraine agreed to a ceasefire in the Black Sea, even as the Kremlin said its involvement would depend on a series of preconditions, including sanctions relief.

(4) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz.

(5) President Donald Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) The Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks.
(2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariffs.
(3) US and Russian officials met in Saudi Arabia for about 12 hours a day after American and Ukrainian teams held talks, as President Donald Trump pushes for progress in achieving a ceasefire in the war.
(4) HSBC is considering outsourcing part of its sprawling trading business as executives struggle to justify making technology investments needed to keep up with larger rivals.
(5) Britain needs a technological breakthrough such as artificial intelligence to counter the collapse in its long-term growth rate, Bank of England Governor Andrew Bailey said in a lecture at Leicester University.

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

On today's podcast:

(1) US and European stock-index futures climbed on signs that the next round of President Donald Trump’s tariffs may be more measured than previously suggested.

(2) The UK government is weighing plans to reduce or even abolish its digital services tax before April 2 in an effort to avoid the worst of US President Donald Trump’s trade tariffs.

(3) Mark Carney began his bid for election with a stark warning that US President Donald Trump is serious about wanting to annex Canada, launching his effort to convince Canadians he can protect the country from US aggression.

(4) Turkey formally arrested President Recep Tayyip Erdogan’s main political rival, a decision likely to trigger more market turmoil and protests across the country.

(5) Ukrainian and US officials held talks in Riyadh, resuming efforts to end Russia’s full-scale invasion as President Donald Trump pushes for a ceasefire.

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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 CPI and PCE data, along with a look at the impact of tariffs on housing.
• In the UK – a preview of UK Chancellor Rachel Reeves’ spring statement.
• In Asia – a preview of Chinese EV Maker BYD’s earnings.

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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) For weeks the US economic picture has been darkening. If Wednesday was an opportunity for Federal Reserve Chair Jerome Powell to raise the alarm, he took a hard pass.

(2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push.

 
(3) Research by Bloomberg Economics shows that China has roughly managed to maintain its share of global exports despite a big drop in its share of total US imports since Trump’s first term. Emerging markets are facing a so-called 'China shock', as cheap goods arrive in developing countries.

(4) The Bank of England is likely to turn less dovish on Thursday as officials start to fret about the fallout from Donald Trump’s tariff wars and a renewed bout of domestic inflation.

(5) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.

 
(6) Major changes to UK inheritance tax by the Labour government means means wealthy Britons are embracing creative tactics to protect and pass on wealth, espcially businesses, farmland and pensions.

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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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On today's podcast:

(1) Rachel Reeves has defended her fiscal rules and pledged to bring down government borrowing, as the UK Chancellor of the Exchequer faces dissent from Labour party colleagues opposed to cuts to welfare payments and government spending.

(2) Israel launched a series of military strikes across Gaza, shattering a nearly two-month ceasefire, in response to Hamas's refusal to release hostages and rejection of proposals from the US and mediators. The escalation is the latest sign of renewed conflict in the Middle East.

(3) President Donald Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday.

(4) German lawmakers will vote on a bill today that would unlock hundreds of billions of euros in debt-financed defense and infrastructure spending and herald a pivot toward a substantially more expansive fiscal policy in Europe’s biggest economy.

(5)  Two NASA astronauts stuck in orbit for nine months finally departed the International Space Station aboard a SpaceX capsule on Tuesday, kicking off their long-awaited voyage home. Butch Wilmore and Suni Williams, seated inside a Dragon capsule with two other crew members, undocked from the ISS at 1:05 a.m. New York time on Tuesday.  The capsule is expected to travel through space, plunge through the atmosphere and ultimately fall to Earth under parachutes before splashing down off the Florida coast around 6 p.m. New York time. 

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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’ll speak with Russian President Vladimir Putin on Tuesday, as the US continues to push for an end to fighting in Russia’s war in Ukraine.

(2) Treasury Secretary Scott Bessent, a former hedge fund manager, said he’s not worried about the recent downturn that’s wiped trillions of dollars from the equities market as the US seeks to reshape its economic policies.

(3) Consumption and industrial production in China grew faster to start the year, in an upswing that exceeded forecasts as Donald Trump’s tariffs threaten exporters in the world’s largest trading nation.

(4) US President Donald Trump’s policies are causing more uncertainty for the economy than there was during Covid, European Central Bank Vice President Luis de Guindos told the Sunday Times.

(5) The UK government will abolish more business regulators and scale back welfare spending to drive stagnant economic growth.

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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 FedEx.
• In the UK – a preview of Morgan Stanley’s European Financials Conference.
• In Asia – a preview of Tencent earnings and the next BOJ decision.

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

(1) European Central Bank President Christine Lagarde warned that an escalation of disputes over trade levies kicked off by US President Donald Trump may have a detrimental effect on the world economy.

(2) President Donald Trump threatened to impose a 200% tariff on wine, champagne and other alcoholic beverages from France and elsewhere in the European Union, the latest escalation in a growing transatlantic trade war.

(3) China stands to gain from the ongoing trade wars between the US and its allies, the European Union’s foreign policy chief Kaja Kallas said in an interview with Bloomberg Television.

(4) Tariff worries rattled Wall Street again Thursday, pushing the S&P 500 into a correction that left it at the lowest in six months.

(5) Senate Democratic leader Chuck Schumer had two choices as the clock ticked down to the government funding deadline: drop his threat to block the Republican bill or force a disruptive March 15 shutdown.

 
(6) More than half of UK Prime Minister Keir Starmer’s cabinet have urged his chancellor, Rachel Reeves, to rethink her plans to scale back welfare and spending, in an extraordinary sign of growing concern within the governing Labour Party over the scale of looming cuts.

(7) Russian President Vladimir Putin said he wants to discuss a proposed ceasefire in Ukraine with his US counterpart Donald Trump, though he warned that any truce should lead to a long-term resolution of the war.

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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 the US would respond to the European Union’s countermeasures against his new 25% tariffs on steel and aluminum, raising the risk of further escalation in his global trade war.

(2) Ozempic-maker Novo Nordisk is planning to make more of its medicines for the US market in the country; Boeing risks a gummed up supply chain and higher aircraft costs it may not be able to pass on; Chinese online retailer Shein is offering incentives to its top apparel providers to set up new production capacity in Vietnam.

(3) Senate Democratic leader Chuck Schumer said his party would block a Republican spending bill to avert a government shutdown on Saturday and urged the GOP to accept a Democratic plan to provide funding through April 11 instead.

(4) The correction in the US stock market may be complete as credit markets aren’t pricing in recession risks, according to JPMorgan Chase.

 
(5) The UK and France are scrambling to bolster Ukraine’s negotiating position as US President Donald Trump seeks to force through a settlement in its war with Russia.

(6) London is expected to record the largest drop in house prices in the UK in the near term, according to property agents, as the capital is disproportionately hit by economic uncertainty and higher taxes.

(7) Bloomberg has learned that investors are quietly betting that Donald Trump's overtures to Moscow will eventually translate into Russia's return to the global financial markets.

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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 25% tariffs on steel and aluminum imports came into force Wednesday, triggering a reprisal from the European Union as the global trade war enters a new and risky phase.

(2) The latest US tariffs — which were applied without exemptions — kicked in after a tumultuous day at the White House, when Trump threatened to double the metals tariffs on Canada to 50%, only to back off when Ontario agreed to drop plans to impose a surcharge on electricity sent to the US — all while downplaying the risk of a tariff-led recession that has sent US markets plunging.

(3) Goldman Sachs has lowered its target for the US equity benchmark in a further sign of growing skepticism on the outlook of the world’s largest economy.The bank’s strategists cut the year-end target for the S&P 500 Index to 6,200 from 6,500, implying an 11% gain from Tuesday’s close. The reduction was also in view of declines in the “Magnificent 7” stocks.

(4) Less than two weeks after Donald Trump lambasted Ukrainian President Volodymyr Zelenskiy in an Oval Office confrontation, the US president put the pressure on Russia to accept a ceasefire agreement hammered out with Zelenskiy’s advisers.

(5) Half a million more people in England and Wales are claiming disability benefits for mental-health problems than before the pandemic, according to research that may add to concerns over government plans to squeeze welfare spending.

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

On today's podcast:

(1) What had been a steady pullback from the US stock market accelerated sharply Monday as investors retreated from virtually every type of risk and economic fear raced across Wall Street.

(2) Citigroup downgraded its view on US equities while upgrading China to overweight, another sign of the growing divergence in the outlook toward the world’s top two markets.

(3) Talks between the US and Ukraine in Saudi Arabia on Tuesday are intended to help clarify what concessions might be possible in the push toward a ceasefire with Russia, Secretary of State Marco Rubio said, playing down the possibility of a major breakthrough.

(4) A cargo ship crashed into an oil tanker off the UK’s east coast, causing fires, a jet-fuel spill, and leaving one person missing in one of the most significant maritime disasters near the country in many years.

 
(5) Keir Starmer has reportedly backed up the Chancellor's plans to reform Britain's benefits system and cut costs. According to the BBC, the Prime Minister told a private meeting of his MPs that the UK's welfare system was 'indefensible' and 'unfair'.

(6) Key UK economic data will continue to be released at 7 a.m., a blow to traders and investors who wanted the statistics office to revert to the pre-pandemic norm of 9:30 a.m.

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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 the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil.

(2) Chinese tariffs on a slew of American farm products have officially come into effect, the latest retaliation in the unfolding trade war between the world’s top two economies.

(3) Mark Carney won the race to become Canada’s next prime minister, putting the former central banker in charge of the country just as US President Donald Trump’s administration threatens its economic future.

(4) US President Donald Trump said he had largely lifted a freeze on US intelligence sharing with Ukraine as he looked to push both Kyiv and Moscow to the negotiating table in hopes of brokering a peace deal.

(5) Wages for new hires in the UK rose at the slowest pace in four years in February as businesses scrambled to cut expenses ahead of a looming hike in employment costs, according to a survey closely watched by the Bank of England.

(6) Germany's Conservatives and Social Democrats are moving closer to a forming coalition, announcing over the weekend they would deepen talks over joining forces in a new government. They face massive challenges to restart growth after two years of contraction boost defence spending, as well as risks of trade tariffs from Donald Trump.

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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 CPI and PPI data, along with earnings from Oracle and Adobe.
• In the UK – a preview of European Central Bank Chief Christine Lagarde addressing central bankers.
• In Asia – a recap of China’s NPC and outlook for its’ economy.

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

(1) China’s top diplomat accused Donald Trump of taking a hypocritical approach to bilateral ties and denounced tariffs, as tensions rise between the world’s largest economies.

(2) President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners. 

(3) Wall Street traders continued to navigate intense, quick and sharp market swings amid a slew of tariff headlines, with stocks getting pummeled after almost wiping out their losses.

(4) Millennium Management, Citadel and other top hedge funds posted lacklustre returns in February, as market gyrations reversed momentum on key trades and clobbered popular stocks.

(5) The European Union agreed to begin discussions on a long-term reform of its fiscal rules to allow member states to spend more on defense, following a push from Germany.

 
(6) European Central Bank officials are bracing for tough negotiations over whether to cut interest rates further or hold fire when they next set borrowing costs in April, according to people familiar with their thinking.

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

On today's podcast:

(1) Japan’s government bond yields reached their highest levels in more than a decade and yields in Australia and New Zealand also surged as the rout in German bunds reverberated through global debt markets.

(2) The European Central Bank is about to lower interest rates for the sixth time since June, though a volatile economic backdrop is sowing divisions over where to take borrowing costs from here.

(3) President Emmanuel Macron said he’ll enter into talks on using France’s nuclear capabilities to defend European allies.

(4) Financial markets are signaling that the risk of a recession is growing as tariff-related uncertainty and indicators of economic weakness spread fear across Wall Street.

 
(5) Bank of England Governor Andrew Bailey says US President Donald Trump’s tariff war poses a large risk to the world economy and will not fix the trade imbalances he hopes to address.

(6) President Donald Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.

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

On today's podcast:

(1) President Donald Trump took the lectern Tuesday for his primetime address beset by warning signs about the US economy, and acknowledged to Americans there could be more discomfort ahead.

(2) The Trump administration could announce a pathway for tariff relief on Mexican and Canadian goods covered by North America’s free trade agreement as soon as Wednesday, Commerce Secretary Howard Lutnick said.

(3) President Donald Trump said he received an “important letter” from Ukraine’s leader looking to smooth over a clash that erupted during a contentious Oval Office meeting, but held back from lifting a US pause on military aid or announcing a revived minerals deal.

 
(4) Germany will unlock hundreds of billions of euros for defense and infrastructure investments in a dramatic shift that upends its ironclad controls on government borrowing.

(5) China set a forceful economic growth goal at about 5% for 2025, raising expectations for officials to unleash more stimulus later this year as they confront a trade war with Donald Trump.

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

On today's podcast:

(1) President Donald Trump delivered on his threat to hit Canada and Mexico with sweeping import levies, imposing one of the largest increases in US tariffs since the 1930s in a dramatic escalation of a trade war that stands to upend ties with major economic partners.

(2) China imposed tariffs as high as 15% on US goods and banned exports to some defense companies in retaliation for the Trump administration’s new levy, escalating a trade war between the world’s two largest economies.

(3) President Donald Trump said the US would impose tariffs on “external” agricultural products starting on April 2, adding another layer of threats to impose trade barriers on imported goods.

(4) Equities fluctuated as President Donald Trump’s tariffs on Canada, Mexico and China went into effect. Oil extended losses.

(5) President Donald Trump ordered a pause to all military aid to Ukraine, turning up the heat on Volodymyr Zelenskiy days after an Oval Office blowup with the Ukrainian president left support from his country’s most important ally in doubt.

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

On today's podcast:

(1) UK Prime Minister Keir Starmer and other European leaders used a security summit in London to demonstrate broad support for Ukraine. Behind the scenes, though, they were scrambling to get Volodymyr Zelenskiy back to the table with US President Donald Trump.

(2) Ukrainian President Volodymyr Zelenskiy said he’s willing to meet Donald Trump if the US president invites him again “to solve real problems,” adding his country is ready to accept a minerals deal that was put on hold last week.

(3) President Donald Trump is on the verge of slapping new tariffs on Canada and Mexico while doubling a levy on China, moves that would dramatically expand his push to reshape the US economy, tap new revenues and upend ties with the biggest US trading partners.

(4) President Xi Jinping heads into China’s biggest political huddle of the year with his economy finally getting back some swagger. Donald Trump’s rising tariffs will test Beijing’s ability to sustain that momentum.

 
(5) Jes Staley’s legal showdown over his career-ending friendship with the late sex offender Jeffrey Epstein will bring in some of the most prominent names in the City of London.

(6) Zoe Saldaña took home the Oscar for best supporting actress for her performance in the Netflix Inc. film Emilia Pérez at the 97th Academy Awards in Hollywood Sunday evening.

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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 the February jobs report and a look at earnings from Macys and Gap.
• In the UK – a preview of the 'Special European Council.'
• In Asia – a look ahead to economic data in Australia, and a discussion on China’s tech rally.

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

On today's podcast:

(1) A global selloff in equities worsened in Asia, while the dollar strengthened and Treasury yields edged lower as investors shunned risky bets with President Donald Trump ratcheting up tariffs.

(2) China threatened to hit back at Donald Trump’s trade threats after the US president unveiled additional tariffs on Chinese imports, raising the risk of tensions spiraling between the world’s largest economies.

(3) President Donald Trump said he would restart long-stalled negotiations on trade with the UK, as British Prime Minister Keir Starmer heralded a “new economic deal” between the two countries.

(4) UK Prime Minister Keir Starmer left his meeting with Donald Trump with much to be satisfied about despite falling short of his top objective — obtaining an American security “backstop” to protect Ukraine from further attacks after an end to Russia’s war.

(5) President Volodymyr Zelenskiy arrives at the White House on Friday with a personal appeal to persuade Donald Trump not to sell out his country in the rush to make a peace deal with Russia.

(6) Paris’s oldest chocolate shop has occupied a street corner in the ninth arrondissement since 1761. Ownership of À la Mère de Famille has changed hands from family to family over the centuries, but it has endured through occupation and revolution thanks to the Parisian appetite for confectionery.

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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) Ukraine has agreed with the US on a deal to jointly develop its natural resources, people familiar with the matter said, a move that could ease recent tension with President Donald Trump and advance his administration’s goal of a ceasefire with Russia.

(2) Prime Minister Keir Starmer swept to power promising to raise living standards and grow the British economy. But now his premiership has an urgent and altogether different focus: preserving European security in a volatile world order upended by US President Donald Trump.

(3) President Donald Trump has signed an executive action directing the Commerce Department to examine possible copper tariffs, the latest in a string of measures aimed at imposing sector-specific levies that could reshape global supply chains.

(4) Chinese President Xi Jinping urged officials to stay composed amid domestic and global challenges, signaling Beijing will take a measured approach to the Trump administration’s new trade and investment restrictions

(5) President Donald Trump said he is starting a program to offer residency and a path to citizenship to investors who pay $5 million, offering a new avenue for legal immigration even as he carries out a sweeping crackdown on undocumented migrants.

(6) Foxtons is often seen as an entry point for aspiring real estate agents. Junior employees described unwanted touching, drunk-driving — and senior staff who either ignored inappropriate behavior or were complicit.

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

On today's podcast:

(1) President Donald Trump deepened Washington’s split with allies over Ukraine, withdrawing US condemnation of Russia’s 2022 invasion at the United Nations and among Group of Seven countries as he aims to end the war on terms agreeable to Moscow.

(2) Germany’s chancellor-in-waiting Friedrich Merz has opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending, according to a person familiar with those discussions.

(3) Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under Joe Biden to limit Beijing’s technological prowess.

(4) President Donald Trump said tariffs scheduled to hit Canada and Mexico next month were “on time” and “moving along very rapidly” following an initial delay, even as a US official cautioned the schedule could be less certain.

(5) Kate Bush, Damon Albarn and Annie Lennox are among a thousand musicians who've released a silent album to protest against artificial intelligence laws. Artists have warned government plans to change copyright law to allow AI models to train using songs could damage the sector. The record - called Is This What We Want? - features recordings of empty studios, which they say could become the reality of the music business.

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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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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 preview PCE, and personal spending data, and Nvidia earnings.
• In the UK – a preview of the next G20 summit.
• In Asia – a look at the evolving relationship between Washington and Beijing.

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

On today's podcast:

(1) The US signaled that sanctions relief for Russia could be on the table in talks over the war in Ukraine as President Donald Trump rushes toward a deal to end the three-year conflict.

(2) Treasury Secretary Scott Bessent said that any move to boost the share of longer-term Treasuries in government debt issuance is some ways off, given current hurdles that include elevated inflation and the Federal Reserve’s quantitative tightening program.

(3) Israel said a body returned as part of a ceasefire agre ement with Hamas was not that of a young mother taken hostage in October 2023, as the militant group had claimed.

(4) Federal Reserve Bank of St. Louis President Alberto Musalem said policy should remain “modestly restrictive” until it’s clear inflation is on track to the central bank’s 2% target, and that he sees increased risks that progress may stall or even reverse.

(5) Citigroup is ending workplace representation goals and removing requirements to interview job candidates from diverse backgrounds, citing pressure from the Trump administration.

(6) As a growing chorus of bankers and politicians around the world demand the roll-back of crisis-era regulations, Nick Leeson — the former rogue derivatives trader who brought down one of the UK’s most venerated financial institutions — is starting to get worried.

Watch the full Nick Leeson interview: https://www.youtube.com/watch?v=jvqVzH__p0A

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

On today's podcast:

(1) US President Donald Trump said it would be possible to reach a fresh trade deal with China, signaling he is open to heading off a brewing trade fight between Washington and Beijing.

(2) The European Union is ready to discuss cutting tariffs on autos and other goods as it seeks to head off a trade war with the US, the bloc’s top trade official said Wednesday in Washington.

(3) Keir Starmer repeated his support for Volodymyr Zelenskiy in a call with the Ukrainian president on Wednesday, hours after US President Donald Trump branded him a “dictator.”

(4) South Africa President Cyril Ramaphosa’s priority as Group of 20 president is overhauling the global institutions he sees as skewed in favor of the West.

(5) The European Central Bank will soon have to discuss taking a break, or ending altogether, its campaign of interest-rate reductions, Executive Board member Isabel Schnabel told the Financial Times.

(6) Confidence among UK households slipped to a new low under the Labour government, as consumers brace for higher prices and businesses warn of a hiring hit from rising payroll taxes

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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) Emmanuel Macron held talks separately with Donald Trump and Volodymyr Zelenskiy on aligning with the US after the French president spearheaded an effort to bring Europe to the table for discussions on ending Russia’s war on Ukraine.

(2) Discussions are gathering pace in the European Union on how to increase defense spending, with joint financing becoming a realistic option for a growing list of leaders, according to people familiar with the matter.

(3) Trade uncertainty over US President Donald Trump’s plans to hit the European Union with tariffs is already affecting the bloc by putting a lid on investment, according to EU Economy Commissioner Valdis Dombrovskis.

(4) Some UK government departments are bracing for budget cuts of as much as 11% as Prime Minister Keir Starmer comes under mounting pressure to plough more money into defense.

(5) Fifteen people were injured, three critically, after a Delta Air Lines Inc. plane flipped and came to rest upside down after landing in windy and freezing conditions in Toronto on Monday.

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

On today's podcast:

(1) Prime Minister Keir Starmer pledged to send British peacekeeping troops to Ukraine if needed as he sought to show that European nations are serious about their own defense.

(2) President Donald Trump said Ukrainian President Volodymyr Zelenskiy will be involved in peace talks with Russia, a day after top US advisers suggested the negotiations might go on without him.

(3) The US move to pull back from providing European security guarantees comes as Donald Trump said he's open to allowing Europe to buy US-made weapons to give to Ukraine. European officials are working on a major new package to increase defence spending and support Ukraine, but the plans won't be announced until after the German election this coming weekend.

(4) Germany’s plodding election campaign flared into life Sunday when the four main candidates clashed on live television, exchanging barbs a week before the ballot on topics ranging from irregular migration to the war on Ukraine and the country’s economic woes.

(5) A potential encounter this week between President Xi Jinping and e-commerce icon Jack Ma, coming after a blistering run by tech shares, could be the next catalyst to extend the rally in China’s stocks.

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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 U.S housing data and earnings from the EV maker Rivian.
• In the UK – a look at upcoming German elections.
• In Asia – a look ahead to earnings from Alibaba and economic data in South Korea.

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

On today's podcast:

(1) President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners, raising the prospect of a wider campaign against a global system he complains is tilted against the US.

(2) President Volodymyr Zelenskiy said that Russia’s Vladimir Putin simply can’t be trusted, which is why Ukraine needs security guarantees, particularly from the US.

(3) HSBC is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges Elhedery continues his overhaul of Europe’s biggest lender, according to people familiar with the matter.

(4) Jamie Dimon said JPMorgan Chase & Co. will scale back spending on some diversity initiatives that he sees as a waste of money, while he also reiterated the bank’s commitment to working with Black, Hispanic and LGBTQ communities.

(5) Euronext NV Chief Executive Officer Stephane Boujnah said US President Donald Trump’s return to the White House could present a boon for the pan-European bourse and regional companies, as Europe is “now perceived as a great investment opportunity.”

(6) UK Prime Minister Keir Starmer met Chinese Foreign Minister Wang Yi in London on Thursday as the two nations pursued a thaw in ties even as Europe reeled from Donald Trump’s intervention on Russia’s war in Ukraine.

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

On today's podcast:

(1) President Donald Trump agreed in a phone call with Russian President Vladimir Putin to start negotiating an end to the war in Ukraine, sweeping aside three years of US policy and blindsiding European allies who feared the more conciliatory American stance amounted to a giveaway to the Russian leader.

(2) Federal Reserve Chair Jerome Powell said the latest consumer price data show that while the central bank has made substantial progress toward taming inflation, there is still more work to do.

(3) European Union trade chief Maros Sefcovic spoke with three top members of US President Donald Trump’s incoming administration on how to find a solution to the brewing transatlantic trade dispute.

(4)French Prime Minister Francois Bayrou survived another no-confidence vote Wednesday, clearing a key political hurdle toward implementing a delayed 2025 budget.

(5) Prime Minister Keir Starmer has lost the support of wealthy voters who helped his Labour Party secure a historic majority in last year’s UK general election, according to a new survey that lays bare the seven month-old government’s waning popularity.

(6) London-based Qube Research & Technologies has grown into a $23 billion trading powerhouse in just seven years, with a distinct approach that shuns star culture and emphasizes teamwork, and has achieved returns that make those of established hedge funds look mediocre.

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

On today's podcast:

(1) Rachel Reeves faces a new risk of having to make spending cuts after the UK government’s fiscal watchdog downgraded its growth forecast, leaving Britain’s finance minister scrambling to meet her budgetary rules when a key report is published next month.

(2) UK taxpayers will end up paying £150 billion ($186 billion) to cover the total losses incurred by the Bank of England on its quantitative easing program, according to new estimates.

(3) The rise of multi-manager hedge funds poses a threat to financial stability, according to Bank of England Governor Andrew Bailey.

(4) Citadel founder Ken Griffin said he’s grateful that Elon Musk is taking time away from his companies to slash government spending but offered blunt criticisms of President Donald Trump’s rhetoric on tariffs.

(5) Hamburg, Germany's largest seaport, is a hub of activity, handling two-thirds of the country's goods, but is vulnerable to the global trade war instigated by US President Donald Trump.

(6) Federal Reserve Chair Jerome Powell said the central bank doesn’t need to rush to adjust interest rates, again signaling that officials will be patient before lowering borrowing costs further.

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

On today's podcast:

(1) The European Union says it will respond to any tariffs the US might impose on it. The warning comes after President Trump pushed forward with his pledge to place a 25% tariff on all US steel and aluminium imports.

(2) Despite Trump's insistence that there would be 'zero exemptions'. The US President says he will "give consideration" to a carve-out for Australia. Those comments were also echoed by the country's Prime Minister Anthony Albanese, after a call between the two leaders.

(3) The growing prospect of a trade war comes as the the UK's new ambassador to the US -- Peter Mandelson -- says it's important for allies to respect Trump's electoral mandate.

(4) A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

(5) A Bank of England voting member who backed an outsized interest rate cut last week sees companies struggling to raise prices as consumers pull back on spending.

(6) Europe is teetering on the edge of its next energy crisis after natural gas prices soared to the highest in two years.

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

On today's podcast:

(1) President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

(2) President Donald Trump has agreed to consider an exemption for Australia from US tariffs on steel and aluminum following a telephone call with Prime Minister Anthony Albanese, even after he initially said there would be no exceptions from the imposts.

(3) The growing prospect of a trade war comes as the the UK's new ambassador to the US -- Peter Mandelson -- says it's important for allies to respect Trump's electoral mandate.

(4) A group of investors led by Elon Musk has offered to buy the nonprofit that controls OpenAI for $97.4 billion, escalating a clash between the Tesla chief executive and the artificial intelligence company he co-founded.

(5) A Bank of England voting member who backed an outsized interest rate cut last week sees companies struggling to raise prices as consumers pull back on spending.

(6) Europe is teetering on the edge of its next energy crisis after natural gas prices soared to the highest in two years.

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

On today's podcast:

(1) President Donald Trump plans to impose 25% tariffs on all imports of steel and aluminium into the US, broadening his trade salvo and threatening ties with some of the country’s top trading partners.

(2) Donald Trump suggested that Elon Musk’s government efficiency team has found irregularities while examining data at the US Treasury Department, and intimated that may lead the US to disregard some payments.

(3) BP's dramatic under-performance compared with other oil majors has reached a crunch point — a looming showdown with one of the world’s most aggressive activist investors.

(4) British workers are increasingly worried about losing their jobs, and it’s preventing the economy from benefiting from a potential uplift in consumer spending.

(5) France is set to announce a total of €109 billion ($113 billion) in investment in artificial intelligence projects in the country by companies, funds and other sources over the coming years, President Emmanuel Macron said on the eve of a two-day AI summit in Paris.

(6) The Philadelphia Eagles are Super Bowl champions. They defeated the Kansas City Chiefs 40-22 in New Orleans. The win denies the Chiefs a third consecutive victory in American Football's showpiece event.

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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 U.S CPI and Retail sales data, along with quarterly earnings from McDonalds.
• In the UK – a look at a summit on artificial intelligence taking place in Paris.
• In Asia – a look at the potential fallout of Donald Trump's trade war with China.

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

On today's podcast:

(1) Bank of England Governor Andrew Bailey does “very strongly agree” with Chancellor of the Exchequer Rachel Reeves’ plans to boost UK growth. His deputy, Clare Lombardelli, is also “very supportive.” They may well be, but the central bank’s latest forecasts are certainly not.

(2) The rush to ship gold from London to the US to take advantage of premium prices is fuelling strong demand for slots to withdraw metal from the Bank of England’s vault, an official said.

(3) US Treasury Secretary Scott Bessent said he favors a strong dollar and has no plans to alter the government’s debt-issuance plans, showing a cautious approach toward financial markets from an administration that’s elsewhere rapidly upending the status quo.

(4)  The Trump administration’s campaign to root out perceived disloyalty or waste at the Justice Department, the US Agency for International Development and other federal agencies has lawmakers and former senior spy officials worried that the intelligence community is up next for a purge.

(5) Amazon warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year, with most of the money going toward data centres, homegrown chips and other equipment to provide artificial intelligence services.

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

On today's podcast:

(1) US allies expect President Donald Trump’s administration to present a long-awaited plan to end Russia’s war on Ukraine at the Munich Security Conference in Germany next week, according to people familiar with the matter.

(2) Aides to President Donald Trump sought to tone down his idea of depopulating and taking over Gaza after his suggestion that the US would “own” the war-ravaged territory was welcomed in Israel but widely condemned elsewhere.

(3) Alphabet's Google told employees that it will no longer formally seek to improve the diversity of its workforce, marking the latest step in Silicon Valley’s retreat from initiatives that have fallen out of favour during US President Donald Trump’s administration.

(4) Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.

(5) The Bank of England is expected to cut interest rates for a third time on Thursday while downgrading its UK growth forecasts and predicting higher inflation this year in a report that will make uncomfortable reading for Chancellor of the Exchequer Rachel Reeves.

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

On today's podcast:

(1) Donald Trump said the US should take control of the devastated Gaza Strip, shunt the area’s residents to other countries and rebuild it into a new “Riviera,” a proposal at odds with America’s fraught history in the region and that drew sharp opposition from Saudi Arabia.

(2) The first volleys in the latest US-China trade war made clear that Xi Jinping is taking a more cautious approach than during Donald Trump’s first term.

(3) At least 10 people, including the gunman, were killed Tuesday at an adult education center in what Sweden’s prime minister called the country’s worst mass shooting. But a final death toll, a conclusive number of wounded and a motive hadn’t yet been determined hours later.

(4) French Prime Minister Francois Bayrou is set to ride out two no-confidence votes on Wednesday, giving him the stability needed to implement a delayed 2025 budget.

(5) Google parent Alphabet Inc. posted fourth-quarter revenue that missed analysts’ expectations after growth in its cloud business slowed, raising concern from investors about the billions the company is spending on artificial intelligence.

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

On today's podcast:

(1) China slapped tariffs on a range of US products and announced a probe into Google moments after President Donald Trump imposed a 10% tariff on goods from Beijing, reigniting a trade war between the world’s largest economies.

(2) President Donald Trump agreed to delay 25% tariffs on Canada and Mexico for a month after both US neighbors agreed to take tougher measures to combat migration and drug trafficking at the border, warding off a continental trade war for now.

(3) Prime Minister Keir Starmer had hoped to spend Monday marking a new milestone in the UK’s much-promised reset with European Union five years after Brexit. Instead, he received a dramatic reminder of how much harder that will be with Donald Trump back in the White House.

(4) French Prime Minister Francois Bayrou forced the adoption of a 2025 budget bill by bypassing the lower house of parliament on Monday, using a constitutional provision that will likely trigger a no-confidence vote.

(5) UBS Group for the final quarter of 2024 beat expectations, aiding the Swiss bank in boosting buyback plans for this year to $3 billion. BNP Paribas announced a new share buyback and higher-than-expected dividend after a surge in trading revenue in the final months of last year lifted profit above its targets.

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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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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 the January Jobs report and preview some big tech earnings we're watching
• In the UK: We look ahead to the BOE rate decision 
• In Asia: We detail the future of China's DeepSeek AI 

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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 renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar.

(2) The US Army Black Hawk helicopter that collided with a passenger jet over Washington on Wednesday evening was manned by an experienced three-person crew conducting a routine training flight over familiar territory, a service official told reporters Thursday.

(3) US officials are probing whether Chinese AI startup DeepSeek bought advanced Nvidia Corp. semiconductors through third parties in Singapore, circumventing US restrictions on sales of chips used for artificial intelligence tasks, people familiar with the matter said.

(4) Apple gave a reassuring revenue forecast for the current quarter, helping boost shares of the world’s most valuable company after its holiday results showed jarring declines for China and the iPhone.

(5) Women trust the Bank of England less than men and feel more squeezed by cost-of-living shocks, new research shows, underlining the challenge facing the central bank to improve its public reputation.

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

On today's podcast:

(1) A regional jet flown for American Airlines Group Inc. collided in a deadly midair crash with a military helicopter as it flew into Ronald Reagan Washington National Airport, prompting a search and rescue operation for any survivors in the Potomac River.

(2) Federal Reserve Chair Jerome Powell made clear the US central bank intends to hold interest rates where they are for the foreseeable future, pointing to a number of reasons why he and his colleagues expect to take their time before lowering borrowing costs again.

(3) Tesla has revealed plans to begin robotaxi operations and forecast a sales recovery this year, fueling what Elon Musk predicted would be an “epic” period of growth for the electric vehicle maker.

(4) Chancellor of the Exchequer Rachel Reeves threw her weight behind a controversial third runway at Heathrow Airport, part of the Labour government’s effort to revive growth by waving through long-delayed infrastructure projects.

(5) Microsoft said its cloud-computing business will continue to grow slowly in the current quarter as the company struggles to build enough data centers to handle demand for its artificial intelligence products.

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

On today's podcast:

(1) Rachel Reeves will pledge to go “further and faster” to boost the UK economy by unblocking new infrastructure projects, as she seeks to lure investors and win back business support after a rocky start to her tenure as Chancellor of the Exchequer.

(2) Microsoft and OpenAI are investigating whether data output from OpenAI’s technology was obtained in an unauthorized manner by a group linked to Chinese artificial intelligence startup DeepSeek, according to people familiar with the matter.

(3) Apple has been secretly working with SpaceX and T-Mobile US Inc. to add support for the Starlink network in its latest iPhone software, providing an alternative to the company’s in-house satellite-communication service.The companies have been testing iPhones with the Starlink. 

(4) President Trump's surprise announcement to halt trillions of dollars in federal spending sparked panic in Washington and among local officials across the country.

(5) Bernard Arnault said a wind of optimism is blowing through the US after Donald Trump’s inauguration as president, in contrast to his native France, where the government is seeking to raise corporate taxes and unemployment is increasing.

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

On today's podcast:

(1) A Chinese AI startup called DeepSeek has released a new open-source AI model called R1 that can mimic human reasoning, rivalling or outperforming leading US developers on industry benchmarks.

(2) Nvidia's plunge, fueled by investor concern about Chinese artificial-intelligence startup DeepSeek, erased a record amount of stock-market value from the world’s largest company.

(3) President Donald Trump said he wants to enact across-the-board tariffs that are “much bigger” than 2.5%, the latest in a string of signals Monday that he’s preparing widespread levies to reshape US supply chains.

(4) The US Senate confirmed Scott Bessent as the next secretary of the Treasury, becoming the chief economic spokesman for President Donald Trump and his sweeping agenda of tax cuts, deregulation and trade rebalancing.

(5) The UK plans to allow companies to invest pension funds surpluses in order to unlock billions of pounds to help drive economic growth, Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves will tell executives at some of Britain’s biggest firms on Tuesday.

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

On today's podcast:

(1) UK Prime Minister Keir Starmer and US President Donald Trump discussed trade in their first conversation since Trump re-entered the White House. They also agreed to “meet soon.”

(2) Business activity has slumped at British firms and profit warnings have risen, according to two reports that say each trend is the worst it’s been since the pandemic.

(3) The Colombian government has agreed to all of President Donald Trump’s terms, including the unrestricted acceptance of all undocumented immigrants from Colombia returned from the US, without limitation or delay, according to a White House Press Secretary statement.

(4) Four weeks before Germany’s snap election, the political temperature is rising as the campaign shifts onto the contentious terrain of migration and Elon Musk steps up his support for the far-right AfD party.

(5) Chinese AI startup DeepSeek's new model raises questions about America's technological dominance and the high valuations of companies like Nvidia.

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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) President Donald Trump said he’d prefer not to have to impose tariffs on China, his latest dovish remark toward the world’s second-biggest economy even as he continues to threaten sweeping action.

 
(2) President Donald Trump signed executive actions related to cryptocurrency and artificial intelligence, moves that could bolster two nascent industries.

(3) US President Donald Trump said he would ask Saudi Arabia and other OPEC nations to “bring down the cost of oil,” casting the push for more crude output as a way to heighten pressure on Russia and help end the nearly three-year war in Ukraine.

 
(4) The Bank of Japan raised its key policy rate Friday to the highest level in 17 years and took a more bullish view on the strength of inflation, fueling expectations for more rate hikes and supporting the yen.

(5) UK household confidence tumbled to the lowest since before Labour returned to power as the fallout from Chancellor Rachel Reeves’ budget continued into the new year.

(6) Millions of people are being told to stay home in the north of the UK due to a life-threatening storm. The UK's weather service has issued its most severe 'red' warning in Northern Ireland and parts of Scotland, with the rest of the country under either amber or yellow alerts.Monte Paschi offers to buy Mediobanca in an all share deal.

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

On today's podcast:

(1) President Volodymyr Zelenskiy said any effective peacekeeping force deployed in Ukraine will need to include US troops, as he appealed to Donald Trump ahead of talks with Russia.

 
(2) A Russian spy ship entered British waters twice in recent weeks, prompting the UK to deploy Royal Navy ships, Royal Air Force planes and a submarine, Defence Secretary John Healey said.

(3) President Donald Trump downplayed the national security risk posed by TikTok in an interview with Fox News on Wednesday, days after offering the social video app a reprieve from legislation that would have forced it to shut down.

(4) Bloomberg Economics says there are good reasons to think recessions will be more frequent in Britain in coming years.

(5) Fire crews are making progress on blunting the threat from an enormous new blaze north of Los Angeles that forced students to evacuate and prompted inmates to shelter in place.

(6) Elon Musk openly questioned whether companies that joined President Donald Trump’s announcement promising hundreds of billions of dollars in artificial intelligence infrastructure could follow through on their promises, exposing an early internal rift within the White House.

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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 his threat to hit China with 10% tariffs on all imports was still on the table and indicated it could come as soon as next month.

(2) SoftBank, OpenAI, and Oracle are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

(3) President Donald Trump says he’s likely to impose sanctions on Russia if President Vladimir Putin doesn’t come to the table to negotiate on Ukraine, during remarks at the White House.

(4) Netflix closed 2024 with its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.

(5) The UK government has ousted the chair of the Competition and Markets Authority, Britain’s antitrust watchdog, as ministers seek to reinforce the message that they want regulators to do more to facilitate economic growth.

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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 planned to impose previously threatened tariffs of as much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s two immediate neighbors are letting undocumented migrants and drugs flood into the country.

(2) President Donald Trump held off unveiling China-specific tariffs on his first day in office, instead ordering his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term.

(3) President Donald Trump temporarily halted a ban on TikTok in the US, granting the company and its Chinese parent ByteDance Ltd. more time to reach a deal for the popular app that would resolve long-standing US national security concerns.

(4) Donald Trump pardoned almost all of the people convicted for participating in the Jan. 6, 2021, attack on the US Capitol and ordered charges dropped in any pending cases, fulfilling a controversial campaign promise just hours after he returned to the White House.

(5) President Donald Trump wasted little time taking action on two culturally controversial issues he campaigned on, signing executive orders ending federal diversity programs and restricting gender definition to two sexes — male and female.

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

On today's podcast:

(1) US President-elect Donald Trump will sign close to 100 executive orders within hours of taking office, he says at a pre-inauguration dinner in Washington DC.

(2) A long-delayed ceasefire in the Gaza war began taking hold as Hamas released three hostages on Sunday in exchange for 90 Palestinians held in Israeli prisons.

(3) Donald Trump pledged to delay enforcement of a national security law that threatened to ban TikTok. Yet it’s not clear whether the app’s Chinese parent is able — or willing — to secure a US backer in time to avoid a permanent shutdown.

(4) Hedge funds have long been regarded as notoriously expensive. New research reveals just how costly they truly are for their clients.

(5) Asking prices for UK homes jumped by the most in over one-and-a-half years at the start of 2025, a sign of resilient confidence in the property market, according to Rightmove.

See omnystudio.com/listener for privacy information.

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 what comes next for the U.S economy when Donald Trump takes office, and Netflix earnings.
• In the UK – a preview of the World Economic Forum in Davos.
• In Asia -  a preview on whether Donald Trump will make good on his threats toward China.

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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) Israeli Prime Minister Benjamin Netanyahu accused Hamas of reneging on parts of a ceasefire agreement that looked set to pause more than 15 months of fighting in Gaza, risking completion of the long-awaited deal.

(2) Britain’s economy narrowly returned to growth in November but fell short of expectations as the UK struggles to shake off concerns that the country is in the grip of stagflation.

(3) Wall Street breathed a sigh of relief after a surprise slowdown in inflation spurred a stock rally and a plunge in bond yields, reinforcing bets the Federal Reserve is on track to keep cutting rates this year.

(4) President Joe Biden warned Americans of a “dangerous concentration of power” in the hands of a “very few ultra-wealthy people” and the impact he feared it would have on the country’s democracy as he delivered a farewell address Wednesday from the Oval Office.

(5) The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a lack of rain and another round of winds forecast next week already has officials worried.

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

On today's podcast:

(1) Israel and Hamas agreed to a ceasefire deal that calls for releasing dozens of hostages and bringing a temporary halt to the war in the Gaza Strip that has killed tens of thousands of people in the last 15 months and touched off broader turmoil across the Middle East.

(2) Wall Street breathed a sigh of relief after a surprise slowdown in inflation spurred a stock rally and a plunge in bond yields, reinforcing bets the Federal Reserve is on track to keep cutting rates this year.

(3) Chancellor of the Exchequer Rachel Reeves has emerged relatively unscathed from a series of high-stakes public tests this week in the UK. Her next challenge will be proving to investors that she can shore up her battered economic agenda.

(4) President Joe Biden warned Americans of a “dangerous concentration of power” in the hands of a “very few ultra-wealthy people” and the impact he feared it would have on the country’s democracy as he delivered a farewell address Wednesday from the Oval Office.

(5) The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a lack of rain and another round of winds forecast next week already has officials worried.

See omnystudio.com/listener for privacy information.

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

On today's podcast:

(1) South Korean investigators arrested President Yoon Suk Yeol on Wednesday after launching a pre-dawn operation to bring the impeached leader in for questioning over his short-lived martial law declaration.

(2) The UK’s City minister Tulip Siddiq resigned from the government following an ethics review into allegations around her use and receipt of properties linked to the ousted Bangladeshi regime.

(3) Forecasters expect a monthly report on US consumer prices to show a fifth month of firm increases, bolstering the case for an extended pause in Federal Reserve interest-rate cuts.

(4) The European Central Bank is pushing back against investors who reckon firmer inflation, a surprisingly sturdy US jobs market and Donald Trump’s economic disruption will narrow the scope to lower interest rates.

(5) Hot, dry winds are pummeling Los Angeles and surrounding areas of Southern California, raising wildfire risks through at least Wednesday as the region reels from blazes that have killed at least 24 people and burned neighborhoods to the ground.

(6) The Biden administration is planning to impose tough new rules on exporting advanced chips to China. Bloomberg has learned the White House intends to announce the measures in the last few days of the current presidency.

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

On today's podcast:

(1) The UK is set to get an indication of investor appetite for gilts, with its first bond sale since turmoil gripped the market last week.

(2) UK Prime Minister Keir Starmer said he has “full confidence” in Chancellor of the Exchequer Rachel Reeves and stressed that his government would stick to its fiscal rules in response to a surge in UK borrowing costs.

(3) Chinese officials are evaluating a potential option that involves Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.

(4) The European Union is considering expanding its investigation into whether Elon Musk’s X social network breached its content moderation rulebook, the bloc’s top digital official said.

(5) Southern California is facing another round of dangerous fire weather, as crews struggle to contain wind-driven blazes that have paralyzed Los Angeles for nearly a week and killed at least 24 people.

(6) Members of President-elect Donald Trump’s incoming economic team are discussing slowly ramping up tariffs month by month, a gradual approach aimed at boosting negotiating leverage while helping avoid a spike in inflation, according to people familiar with the matter.

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

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves returns to the UK from China on Monday with the Labour Party keen to brush off market turmoil around its fiscal difficulties and emphasise the government’s long-term ambitions.

(2) Traders in the options market are preparing for the pound to tumble as much as 8% more as fiscal woes that prompted a painful selloff across UK markets last week weigh on the currency.

(3) At least two rounds of vicious, dry Santa Ana winds are expected to blast through Southern California early this week, bringing powerful gusts that will challenge fire crews struggling to contain two destructive blazes and likely force thousands more residents to evacuate.

(4) JPMorgan's Jamie Dimon said that tariffs, if properly used, can help resolve issues such as unfair competition and national security.

(5) Amazon-founder and billionaire Jeff Bezos said the space industry has room for “multiple winners,” including his own firm Blue Origin LLC and the company it most hopes to challenge, Elon Musk’s SpaceX.

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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 U.S eco data and bank earnings next week.
• In the UK – a focus on a UK asset slump and what may come next.
• In Asia – a look at BYD and the EV sector and what comes next in the U.S, Nippon Steel saga.

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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 is struggling to maintain financial market confidence, with the 10-year gilt yield rising to its highest since 2008 and the pound falling to its weakest in over a year.

(2) Chancellor of the Exchequer Rachel Reeves will become the most senior British official to visit Beijing in 7 years this weekend as she embarks on a mission to deepen economic ties with China against the backdrop of UK market turmoil that threatens to undermine her plans to spur growth domestically.

(3) Britain’s market upheaval has put the spotlight on its Labour government this week, but economists say the Bank of England will also have to rise to the occasion by slowing interest rate cuts.

(4) The wildfires across Los Angeles have razed homes and businesses, and forced about 180,000 residents to flee. Economic losses have been estimated at $135 billion to $150 billion by AccuWeather Inc., which would rank among the costliest natural disasters in modern US history.

(5) Atop Wall Street’s largest investment banks, executives are locking in plans to award traders and dealmakers their biggest bonus increases since the pandemic, with 10% hikes — or more — coming for many desks, according to people briefed on the plans.

(6) Donald Trump’s obsession with Greenland has put the world’s largest island in an unexpected position of power. Greenland's push for independence from Denmark is intensifying, with a general election in the next three months that could see the territory play the US and Denmark off each other.

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

On today's podcast:

(1) Plunging UK markets are serving a fresh warning about the British economy and heaping pressure on Keir Starmer’s embattled Labour government.

(2)  Britain’s latest bond turmoil has drawn comparisons with the Liz Truss mini-budget debacle of 2022 but a parallel with the debt crisis of the 1970s might be more apt. 

(3) The 92 global banks in Bloomberg Intelligence's coverage may see a 12-17% ($120-$180 billion) lift to 2027 pretax profit as artificial intelligence powers productivity gains, based on our survey of chief information and technology officers. Job cuts could reach 200,000 in 3-5 years, applying the 3% average expected cut cited in the anonymous survey to the group.

(4) The selloffs that keep flaring in the world’s bond markets are pushing yields toward key thresholds amid escalating worries about elevated inflation, tempestuous politics and swelling government debts.

(5) Los Angeles plunged into its worst natural disaster in decades as wildfires driven by hurricane-strength wind gusts tore through prosperous neighborhoods, killed at least five people and forced more than 100,000 residents to flee.

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On today's podcast:

(1) In the space of an hour, President-elect Donald Trump called for absorbing Canada, declined to rule out using military force to seize the Panama Canal and Greenland, demanded NATO allies spend 5% of GDP on defense and vowed “all hell would break loose” in the Middle East if Hamas doesn’t release Israeli hostages before he takes office.

(2) President-elect Donald Trump said NATO nations should spend the equivalent of 5% of their economic output on defense, escalating his demands on European allies to more than double the current target.

(3) The sister of Sam Altman accused the OpenAI chief executive officer of sexually abusing her for almost a decade, in a lawsuit filed in federal court.

(4) Borrowers are flooding global debt markets at an unprecedented pace as they take advantage of demand from credit-hungry managers flush with cash.

(5) A British politician said he had “almost zero confidence” in the integrity of Shein’s supply chain following a heated exchange with a representative of the fast-fashion retailer in London.

(6) JPMorgan Chase is preparing to tell all its employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic.

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On today's podcast:

(1) Mark Carney, the former governor of the Bank of Canada and Bank of England, said he’s considering entering the race to replace Justin Trudeau as Canada’s prime minister.

(2) Senior politicians in three of Britain’s biggest parties have privately urged Donald Trump’s allies to reconsider his relationship with Elon Musk, after the billionaire Tesla boss made a series of increasingly inflammatory remarks about UK politics, including endorsing a figure on the far right.

(3) The UK’s long-term borrowing costs have come close to their highest level in more than a quarter of a century, ramping up pressure on Chancellor of the Exchequer Rachel Reeves to keep the market on side ahead of a raft of bond sales this week.

(4) The US has blacklisted Tencent and Contemporary Amperex Technology Ltd. for alleged links to the Chinese military, targeting the world’s biggest gaming publisher and top electric-vehicle battery maker in a surprise move weeks before Donald Trump takes office.

(5) Bridgewater Associates dismissed 7% of its workforce Monday as the world’s biggest hedge fund seeks to remain lean and maintain the flexibility to hire top talent, according to a person familiar with the matter.

(6) Germany's plan to become a semiconductor superpower is struggling after Intel halted a €30 billion investment in Magdeburg.

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

On today's podcast:

(1) Prime Minister Keir Starmer got a taste of the topsy-turvy politics of the coming Trump era as his government spent the weekend defending itself from attacks from Elon Musk, only to see the billionaire provocateur turn on his erstwhile British ally, Nigel Farage.

(2) UK business confidence has dropped to its lowest level since former Conservative Prime Minister Liz Truss’s disastrous mini-budget more than two years ago, according to a survey by the British Chambers of Commerce that echoes concerns over the current Labour government’s tax hikes.

(3) In his most wide-ranging interview as chief executive officer, Altman explains his infamous four-day firing, how he actually runs OpenAI, his plans for the Trump-Musk presidency and his relentless pursuit of artificial general intelligence—the still-theoretical next phase of AI, in which machines will be capable of performing any intellectual task a human can do.

(4) More than three months after winning the most seats at federal elections, far-right leader Herbert Kickl is on track to become the Freedom Party’s first Austrian chancellor in a tie-up with the conservative People’s Party.

(5) Justin Trudeau is expected to announce his resignation as leader of Canada’s Liberal Party this week, the Globe and Mail reported, a move that would trigger a contest to replace him as prime minister.

(6) The war risk insurance market is reaching new heights due to flaring geopolitical tensions and persistent piracy, with premiums estimated to generate up to $1 billion a year.

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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 the December jobs report and Delta Airlines earnings.
• In the UK – a preview of the food and culture scene in the UK next year.
• In Asia – a preview of what to expect from China’s economy and the automobile sector in 2025.

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

On today's podcast:

(1) Investigators say they haven’t found evidence linking separate deadly attacks in New Orleans and Las Vegas, as the FBI continues to probe two incidents that rattled Americans as they rang in 2025.

(2) South Korean anti-corruption investigators failed to arrest impeached President Yoon Suk Yeol after facing resistance from his security team and about a thousand protesters gathered outside his residence.

(3) President Joe Biden has decided to officially block Nippon Steel's proposed purchase of U.S. Steel, a once-iconic American company whose sale to a foreign buyer he publicly opposed for months, according to two administration officials who were not authorized to speak publicly about the matter.

(4) Meta says Nick Clegg will step down as president of global affairs and named his deputy, Joel Kaplan, as policy chief, elevating a longtime executive with staunch Republican ties ahead of Trump’s second inauguration as US president.

(5) China is planning tougher scrutiny on exports of technology to make battery materials, as Beijing looks to protect its grip on a crucial supply chain amid rising global trade tensions.

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On today's podcast:

(1) A gruesome attack on revelers celebrating New Year’s in New Orleans thrust US domestic security back into the spotlight less than a month before Donald Trump is sworn in as president.

(2) Authorities are investigating a Tesla Cybertruck explosion outside the Trump Las Vegas hotel on Wednesday as a potential act of terror.

(3) Speaking to reporters Wednesday evening, Biden offered condolences to victims’ families and said authorities were probing if there were any links between the incidents.

(4) The European Central Bank’s 2% inflation target is in sight, according to President Christine Lagarde.

(5) Wall Street predictions for the year ahead are usually defined by expectations for growth, inflation and other dull-but-worthy economic indicators. For 2025, those are all overshadowed by a person — and he is anything but dull.

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On today's podcast:

(1) The US Treasury Department was hacked by a Chinese state-sponsored actor through a third-party software service provider, according to a letter the agency sent to Congress on Monday.

(2) China’s services activity expanded at the fastest pace in nine months while the manufacturing sector grew for a third straight month, signaling improving domestic demand after Beijing’s stimulus blitz.

(3) European gas prices are up about 45% this year, adding to the burden on households and industry as they strive to recover from the worst cost-of-living crisis in decades. There’s likely to be more to come with Russian gas flows due to cease on Jan. 1.

(4) German Chancellor Olaf Scholz and his deputy, Robert Habeck, used their New Year addresses to castigate Elon Musk over his backing for a far-right party in February’s snap election.

(5) Former HSBC Holdings Plc Chief Executive Officer Noel Quinn was knighted in the UK’s prestigious New Year Honors list, joining London Mayor Sadiq Khan and Gareth Southgate, who served as the England men’s football team manager until earlier this year, in earning top awards.

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

On today's podcast:

(1) Jimmy Carter, the former Georgia peanut farmer who as US president brokered a historic and lasting peace accord between Israel and Egypt in a single term marred by soaring inflation, an oil shortage and Iran’s holding of American hostages, has died. He was 100.

(2) Investigators probing the cause of the worst civil aviation accident ever in South Korea will focus on a bird strike and the unusual landing-gear failure in the final moments of the fateful flight that left all but two of the 181 occupants of the Boeing Co. 737 jet dead.

(3) South Korean police sought a warrant on Monday to arrest President Yoon Suk Yeol after the impeached leader repeatedly defied summons to appear for questioning over his martial law declaration.

(4) Britain’s ruling Labour Party would lose nearly 200 seats if elections were held today as the populist Reform UK Party surges, according to a Sunday Times poll.

(5) Elon Musk reiterated his support for the far-right Alternative for Germany party, or AfD, in a newspaper opinion piece published less than two months before Germans go to the polls.

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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) Azerbaijan Airlines’ Embraer SA 190 aircraft was damaged by Russian air defense systems near Grozny before it crashed in Kazakhstan during an attempted emergency landing, according to Azerbaijan government-backed Caliber news website.

(2) Israel struck multiple targets in Yemen it said were controlled by Houthis, the last of the Iran-backed groups still fully engaged in the regional war that began 14 months ago.

(3) The Bank of Japan signaled that a rate hike next month still remains on the table even as cautious views among the majority swayed the stand-pat decision at a policy meeting last week.

(4) Membership for the populist Reform UK party has surpassed that of the Conservatives, according to the party led by Nigel Farage.

(5) Apple is seeking to fight the US over a proposal in its monopoly case against Alphabet Inc.’s Google that would prohibit the search giant from entering into commercial deals with the iPhone maker.

(6) A less-than-perfect debut for the new season of Netflix’s blockbuster series Squid Game sent shares of related South Korean companies sharply lower Friday.

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In this Christmas Day special edition of Bloomberg Daybreak with Nathan Hager: 

• Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses what the Fed will do in 2025.
• Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets and Cameron Dawson, the Chief Investment Officer at NewEdge Wealth, break down what we can expect in equities 
• Burt Flickinger, the Managing Director at Strategic Resource Group, brings us the winners and losers of the 2024 holiday retail season. 

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

On today's podcast:

(1) French Prime Minister Francois Bayrou said he aimed to reach an agreement with parliament on a 2025 budget that would reduce the country’s deficit to close to 5%, near the level his predecessor unsuccessfully tried to reach.

(2) Honda sketched plans for a drawn-out deal that amounts to an acquisition of Nissan, as Japan’s automakers struggle to keep up in an increasingly competitive global car industry.

(3) German President Frank-Walter Steinmeier used his traditional Christmas address to urge citizens to focus on what unites the nation rather than be consumed by grief and horror over Friday’s fatal attack in Magdeburg.

(4) Luigi Mangione pleaded not guilty to New York state murder charges over the shooting of a top UnitedHealth Group executive, as his lawyer expressed concern about getting a fair trial in the high-profile case.

(5) House investigators found “substantial evidence” former Representative Matt Gaetz paid several women — including a 17-year-old girl — for sex and bought and used illegal drugs while in Congress, according to a bipartisan committee report released Monday.

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On today's podcast:

(1) Panama’s president rebuffed Donald Trump’s threat to reimpose US control over the Panama Canal, saying its shipping tolls aren’t inflated and that sovereignty over the waterway isn’t negotiable.

(2) Donald Trump said Sunday that he will be president of the US — not Elon Musk.

(3) French Prime Minister Francois Bayrou is running out of time to meet his self-imposed deadline to name a new cabinet that won’t be quickly toppled by a no-confidence vote in parliament.

(4) UK private sector activity is set for a “steep” decline in the next three months, the Confederation of British Industry said, putting immediate pressure on Chancellor of the Exchequer Rachel Reeves to show she can deliver economic growth in the new year.

(5) The same kind of survey failures that have left the UK unsure about the number of people in Britain’s workforce are now raising doubts about the size of its economy.

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

On today's podcast:

(1) Panama’s president rebuffed Donald Trump’s threat to reimpose US control over the Panama Canal, saying its shipping tolls aren’t inflated and that sovereignty over the waterway isn’t negotiable.

(2) Donald Trump said Sunday that he will be president of the US — not Elon Musk.

(3) French Prime Minister Francois Bayrou is running out of time to meet his self-imposed deadline to name a new cabinet that won’t be quickly toppled by a no-confidence vote in parliament.

(4) UK private sector activity is set for a “steep” decline in the next three months, the Confederation of British Industry said, putting immediate pressure on Chancellor of the Exchequer Rachel Reeves to show she can deliver economic growth in the new year.

(5) The same kind of survey failures that have left the UK unsure about the number of people in Britain’s workforce are now raising doubts about the size of its economy.

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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 new home sales and retail outlook.
• In the UK – a look at what’s on the horizon for the European stock markets.
• In Asia – a look at Softbank’s pledge to invest $100 billion in the U-S over the next four years, and a look at a potential merger between Honda and Nissan.

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

On today's podcast:

(1) The Republican-led House rejected a temporary funding plan backed by President-elect Donald Trump on Thursday with just over 24 hours to go before a US government shutdown.

(2) Prime Minister Keir Starmer’s government is talking to Britain’s election watchdog about tougher rules on political donations, amid fears that Reform UK leader Nigel Farage may secure funding from Elon Musk.

(3) Prime Minister Keir Starmer is set to appoint Peter Mandelson, a veteran Labour Party figure and trade specialist, as the UK’s ambassador to the US, in an effort to spare Britain from being hit by tariffs by Donald Trump.

(4) For most of the UK’s inflation shock over the past two years, Bank of England policy reacted to swings in wage and prices data. Now it’s leaning much more prominently on its own forecasts.

(5) The UK recorded its worst November car production numbers in 44 years amid weak demand both in Britain and across Europe.

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

On today's podcast:

(1) Federal Reserve officials lowered their benchmark interest rate for a third consecutive time, but reined in the number of cuts they expect in 2025, signaling greater caution over how quickly they can continue reducing borrowing costs.

(2) The Bank of Japan kept its monetary policy settings unchanged as it waits a little longer before its next move, with a dissenter’s proposed rate increase suggesting momentum for another hike is building.

(3) The Bank of England is likely to warn of only gradual interest-rate cuts in 2025, ending the year with a cautious message to investors as the specter of stagflation — anemic growth and sticky inflation — hangs over the British economy.

(4) The UK’s minimum wage has been pushed up by 14 pence (18 cents) an hour as a result of changes to a faulty methodology in statistics that underpin the rate.

(5) Ukrainian President Volodymyr Zelenskiy said he’ll reinforce his push for security guarantees at a meeting with NATO Secretary General Mark Rutte and several European leaders in Brussels.

(6) Barclays s set to increase annual bonuses by as much as 20% in its investment bank after an improved year for traders and advisory teams.

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

On today's podcast:

(1) Honda and Nissan are exploring a merger, according to people familiar with the matter, that would create a singular rival to Toyota in Japan and better position the combined company to face competitive challenges around the world. 

(2) Federal Reserve officials are likely to lower borrowing costs for a third-straight meeting this week while also signaling fewer interest-rate cuts next year than previously projected.

(3) First it was a collapse in the currency. Now the rest of Brazil’s financial markets are in the cross-hairs as investors lose faith in the government’s ability to contain a deepening fiscal crisis.

(4) UK government borrowing costs rose to the highest level in decades relative to Germany’s, as traders grew increasingly skeptical over how much more easing the Bank of England will manage to deliver next year.

(5) The UK government risks baking in higher energy costs for consumers as it pushes to meet a challenging — and upgraded — target to decarbonize the country’s power supply by 2030.

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

(1) The majority of Britain’s biggest listed companies will together account for less than 3% of the revenue raised by Labour‘s increased payroll tax, Bloomberg analysis shows, despite Prime Minister Keir Starmer’s promise to target “those with the broadest shoulders.”

(2) Prime Minister Keir Starmer’s plan to boost ties with Beijing faces new hurdles after a Chinese businessman’s close links to Prince Andrew spurred demands for tougher restrictions on China’s operatives in the UK.

(3) President-elect Donald Trump said Ukraine needs to reach a deal to end the Russian invasion and downplayed the value of occupied land, in the latest signal he may push for a settlement that codifies Russian territorial gains.

(4) Donald Trump failed to convince a judge to set aside his conviction in the New York hush money case on presidential immunity grounds, though it’s unclear if the case will still proceed to sentencing as the president-elect continues to challenge the verdict.

(5) Germany is headed for months of political deadlock as voters return to the ballot box for another federal election in February and with coalition negotiations potentially lasting several months after that.

(6) The Bank of France cut its domestic growth outlook just days after President Emmanuel Macron named the country’s fourth prime minister in a year, with the central bank citing the political upheaval as a drag on household and business confidence.

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

(1) Germany's Chancellor Olaf Scholz will submit to a parliamentary vote of confidence today, which he intends to lose, triggering an early election on the 23rd of February. The country's economy is now 5% smaller than it would have been if the pre-pandemic growth trend had been maintained.

 (2) France’s Prime Minister Francois Bayrou will meet with far-right leader Marine Le Pen on Monday, kicking off an effort to form a government that can push a budget through a divided Parliament.

 (3) UK Chancellor Rachel Reeves is resisting calls from English mayors to extend their revenue-raising abilities, an awkward clash that comes as her government launches its plan to extend more powers to local leaders.

(4) French TV network Canal+ is set to become the largest listing on London's stock market in two years. Analysts expect the company will float with a 5 billion pound valuation when the market opens.

(5) China’s retail sales growth unexpectedly weakened in November despite signs of improvement in the housing market, highlighting the urgency for Beijing to further encourage residents to spend..

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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) French President Emmanuel Macron will name a new prime minister this morning via a statement, his office said on Thursday evening.

(2) Klarna Chief Executive Officer Sebastian Siemiatkowski said his company was able to stop hiring a year ago as it invested in artificial intelligence that’s doing the work of hundreds of staff across the firm.

(3) European Central Bank policymakers expect to cut interest rates by another quarter point in January and probably also in March as inflation stabilizes at the 2% target and economic growth remains sluggish, according to officials familiar with their thinking.

(4) UK consumer confidence remained subdued in December with households reluctant to splash out on big-ticket items ahead of Christmas amid ongoing economic uncertainty, a survey found.

(5) Russia is nearing an agreement with Syria’s new leadership to keep two vital military bases in the Middle East state, a key objective of the Kremlin after the fall of its ally Bashar al-Assad.

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

On today's podcast:

(1) Fresh inflation figures are likely to make the Federal Reserve more cautious about the pace of interest-rate cuts — but not quite yet.

(2) Traders increased bets on interest-rate cuts from the European Central Bank following a similar move in Federal Reserve expectations, and now see 158 basis points of easing through the end of 2025, the most in a week.

(3) US President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration next month, CBS reported, citing multiple sources.

(4) US economic indicators can move global markets by trillions of dollars at a time. The agencies that collect and publish those statistics have been pleading for an extra few million, to maintain the integrity of the financial world’s most important numbers.

(5) A closely watched gauge of UK house prices hit its highest in over two years in November as buyers were buoyed by a Bank of England interest-rate cut and an end to uncertainty over Labour’s first budget.

(6) All it takes is one hacker and a batch of faulty solar panels to threaten the safety of Europe’s electric grid.

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

On today's podcast:

(1) London's IPO market has declined 9% this year, with only $1 billion raised, pushing the UK to 20th place in global IPO rankings.

(2) Various trade unions criticized the UK government over public sector pay proposals for next year, raising the prospect of potential industrial action and tensions that would be a blow to Keir Starmer’s administration.

(3) The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House.

(4) The suspect in the fatal shooting of UnitedHealth Group executive Brian Thompson is fighting being sent to New York to face a second-degree murder charge, setting up a potentially long legal process to prosecute Luigi Mangione.

(5) French President Emmanuel Macron is seeking to free his government from the stranglehold of National Rally leader Marine Le Pen by piecing together a coalition of moderates that will last until 2027.

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

(1) Female representation in the boardroom almost tripled since 2010, with the most gender-diverse companies delivering higher shareholder returns compared to male-dominated boards, according to Bloomberg Intelligence.

 
(2) Women are controlling ever-greater sums of money around the world, setting the stage for major shifts in wealth management and philanthropy.

 
(3) One of the world's most prominent female CEOs is Jane Fraser, the boss of Citi Group. Currently halfway through her 5-year plan to turn around the bank, she tells Bloomberg she's now focusing her efforts on improving technology, reducing costs, and growing fee revenues.

(4) The rebel group that toppled Syria’s President Bashar Al-Assad tasked Mohammed Al Bashir to form a transitional government, Syrian television reported.

(5) Luigi Mangione, a “person of interest” in the fatal shooting of UnitedHealth Group Inc. executive Brian Thompson, was charged with possessing an illegal gun and using a fake identification after being arrested in Pennsylvania on Monday. 

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

(1) Israeli ground forces have crossed into Syria for the first time in more than 50 years. According to the country's military, troops have been operating in the Syrian Hermon region, advancing beyond the demilitarized zone on the border between the two countries.

(2) As Bashar Al-Assad fled to Moscow, the looters started raiding the presidential palace and people took to the streets of Damascus to celebrate his demise.

 
(3) US airstrikes hit dozens of Islamic State targets in central Syria on Sunday as President Joe Biden cautioned that Bashar al-Assad’s fall from power could open the door to a resurgence of Islamic extremism.

(4) President-elect Donald Trump said he has no plans to replace Federal Reserve Chair Jerome Powell once he returns to the White House, saying “I don’t see it.”

 
(5) Prime Minister Keir Starmer’s government is set to launch a £100 million fund aimed at helping the state run “more like a start up,” as Labour attempts to rebut criticism over its tumultuous first few months in power.

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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 U.S CPI data and a preview of Oracle earnings.
•    In the UK – a look ahead to the upcoming ECB decision.
•    In Asia – a look ahead to the upcoming RBA decision and Australia’s social media ban for teens.

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

On today's podcast:

(1) Emmanuel Macron said he will serve out the remainder of his presidential term as he seeks to quickly stymie the political turmoil in France after Marine Le Pen’s far-right party allied with leftist lawmakers to topple his government.

(2) A measure of France’s bond risk fell amid hopes lawmakers will strike a deal on next year’s budget sooner than many investors had expected, ending months of political impasse that has weighed on markets.

(3) The words “delay” and “depose” were written on a shell casing and a live round recovered in front of the New York Hilton Midtown, where UnitedHealth Group Inc. insurance chief Brian Thompson was fatally shot on Wednesday, according to people familiar with the matter.

(4) UK household incomes will be held back by budget tax increases in a blow to Prime Minister Keir Starmer’s new goal of “raising living standards in every part of the UK,” according to the Confederation for British Industry.

(5) Citigroup has named 344 new managing directors, the most in at least six years for the Wall Street bank.

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On today's podcast:

(1) French President Emmanuel Macron is seeking a new prime minister after a no-confidence motion against his government was passed with the help of the far right and left.

(2) The French government's no-confidence vote has created uncertainty for the euro, which may face further headwinds due to the political instability.

(3) Brian Thompson, a 50-year-old UnitedHealth Group executive, was fatally shot in midtown Manhattan outside the New York Hilton Midtown where the company was hosting its investor day.

(4) President elect Donald Trump's pick for the head of the US securities regulator, Paul Atkins, has lifted Bitcoin's value to a record high of over $100,000.

(5) The boss of Lloyds Banking Group has warned the uncertainty around lawsuits and regulatory probes into motor finance mis-selling is making it difficult for investors to have confidence in British banking, with ripple effects across the economy.

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On today's podcast:

(1) President Emmanuel Macron called on French lawmakers to set aside their personal ambition and reject a vote that would topple the government and throw the country into political turmoil.

(2)  South Korea’s currency recovered while its stocks fell Wednesday, as investors braced for prolonged political uncertainties following a brief decree of martial law by President Yoon Suk Yeol.

(3) Revolut boss Nik Storonsky would still prefer to float his fintech company in the US, saying that markets in the UK can’t compare.

(4) Takeovers of London-listed companies are shrinking the UK stock market at the fastest pace in more than a decade.

(5) Meta is seeking as much as 4 gigawatts of new nuclear energy as the company looks for a reliable electricity source for its data centers. About 45 companies have delisted from the London market this year due to mergers and acquisitions, up 10% from the tally for all of last year, according to data compiled by Bloomberg.

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On today's podcast:

(1) French Prime Minister Michel Barnier warned lawmakers that France has reached its "moment of truth," as far-right leader Marine Le Pen is set to join a left-wing coalition to topple his government as soon as this week.

(2) The UK doesn't need to trade off its special relationship with the US against its European alliances, Prime Minister Keir Starmer said, despite concern that President-elect Donald Trump's plans to ramp-up tariffs will drive a wedge between the allies. 

(3) SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk's rocket and satellite company to around $350 billion, according to people familiar with the matter. 

(4) Elon Musk's record-setting Tesla Inc. pay package was struck down once again by a Delaware judge, threatening to wrest billions of dollars from the world's richest person and one of Donald Trump's closest confidants. The stock options package was initially worth $2.6 billion and spiked to $56 billion by the time the judge cancelled it. The package was worth $101.5 billion at Monday's closing price.

(5) Previously unreported documents show how the rollout of a landmark new EU biometric border system has been dogged by financial and technical problems that have led to multiple delays.

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On today's podcast:

(1) President Joe Biden has signed a sweeping pardon for his son Hunter Biden, reversing his previous stance that he would not use his executive powers to aid his son.

(2) In an exclusive Bloomberg interview, France's Finance Minister Antoine Armand refuses to accept Marine Le Pen's demands for budget changes, saying the government won't be blackmailed.

(3) Ireland is likely to return a coalition government of Fianna Fail and Fine Gael, bucking the international trend of ousting incumbent parties.

(4) Rebels in Syria opposed to President Bashar al-Assad captured Aleppo and are headed towards Hama, with Damascus in their sights.

(5) Stellantis CEO Carlos Tavares, known for his cost-cutting drive, stepped down from the automaker following a dispute with the board over how to arrest weakening sales and a stock slump.

(6) Workers across Europe are taking more sick days, and economic costs are mounting.

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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 the November jobs report and oil outlook.
• In the UK - a preview of Poland’s Presidential election.
• In Asia – a look at the impact of Donald Trump tariffs on China, and Bitcoin outlook.

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On today's podcast:

(1) The world’s banks are on track to report the lowest revenue from foreign-exchange and rates trading since the pandemic, hit by tighter margins and a challenging macroeconomic backdrop.

(2) Marine Le Pen’s National Rally set out further demands for changes to the French government’s 2025 budget bill after Prime Minister Michel Barnier dropped plans to raise taxes on electricity in a key concession.

(3) President Vladimir Putin warned that his forces could strike “decision-making centers” in the Ukrainian capital of Kyiv with new ballistic missiles as retaliation for attacks on Russia using Western missiles.

(4) Ireland holds a general election on Friday, with Prime Minister Simon Harris hoping to capitalize on a strong economy to secure another five years in power.

(5) Murray Roos was until late last year central to an effort to revolutionise the world’s capital markets via the London Stock Exchange’s nascent digital assets platform. Now, the 48-year-old former trader is using technology to take on even more entrenched market — the UK’s centuries old livestock auctions.

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On today's podcast:

(1) French Finance Minister Antoine Armand said he is prepared to make concessions on the 2025 budget bill to avoid opposition parties toppling the government in the coming weeks. The prospect has pushed investors to sell French assets, driving up the country's borrowing costs compared with European peers. The rate on 10-year French notes matched Greece's for the first time on record on Thursday.

(2) UK Chancellor Rachel Reeves' £26 billion tax hike on businesses may cost as many as 130,000 jobs if bosses choose to pass on the burden by reducing employment, according to analysis by Bloomberg Economics.

(3)  The Biden administration is weighing additional curbs on sales of semiconductor equipment and AI memory chips to China that would escalate the US crackdown on Beijing's tech ambitions but stop short of some stricter measures previously considered, according to people familiar with the matter.

(4) Donald Trump had dinner with Meta CEO Mark Zuckerberg at the president-elect's Mar-a-Lago estate in Florida on Wednesday.

(5) Black graduates face racial discrimination when applying for jobs in financial, professional and legal sectors in the UK, new research shows, even as companies say they are committed to tackling under-representation of minorities at work.

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On today's podcast:

(1) France’s banking stocks slid as a potential government collapse and deepening political crisis unsettled investors.

(2) The Biden administration is weighing additional curbs on sales of semiconductor equipment and AI memory chips to China that would escalate the US crackdown on Beijing’s tech ambitions but stop short of some stricter measures previously considered, according to people familiar with the matter.

(3) The Federal Reserve’s preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates.

(4) Black graduates face racial discrimination when applying for jobs in financial, professional and legal sectors in the UK, new research shows, even as companies say they are committed to tackling underrepresentation of minorities at work.

(5) Finland and Sweden have launched initiatives to prepare citizens for potential crises, including war, natural disasters, and cyberattacks.

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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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President-elect Donald Trump has vowed additional tariffs on China as well as US neighbors Canada and Mexico. Trump said he would impose additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada in posts to his Truth Social network on Monday. Former general counsel at the Office of the United States Trade Representative Jennifer Hillman says Trump announcing the plan before he’s in the office suggests he’s looking for Canada or Mexico to offer things to negotiate. She joined Eli Lee Chief Investment Strategist at Bank of Singapore for a special round table conversation with Bloomberg’s Haslinda Amin.

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On today's podcast:

(1) President-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico, roiling markets with his first specific threat to curb global trade flows since his election win.

(2) The dollar rallied and shares dropped after President-elect Donald Trump said the US will impose additional tariffs on China, Mexico and Canada, ratcheting up concerns about his “America First” policies.

(3) Keir Starmer risks another battle over his Labour government’s controversial first budget, as the UK prime minister sets out his plan to reduce welfare spending by getting more people into work — at the same time as companies are warning of job cuts due to higher taxes.

(4) The UK government recently supplied Ukraine with dozens more Storm Shadow cruise missiles, according to people familiar with the matter, a first under Prime Minister Keir Starmer, who has pledged continued support for the country’s war against Russia.

(5) Ireland's election, like so many this year, has been littered with politicians promising voters the earth. What makes this different is that whoever wins has the money to deliver on many of their promises. Tiwa Adebayo

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On today's podcast:

(1) Firms across Britain are “in damage control” with nearly half planning to cut jobs after the Labour government’s tax-rising budget, according to the boss of the country’s most influential business lobby group.

(2) The UK could claw back pension tax breaks from asset managers that fail to invest enough domestically, the head of the British Business Bank said in a warning about the stakes for the industry as the government pursues a key growth initiative.

(3)The selection of Scott Bessent as the next Treasury Secretary has fueled a rally in currencies around the world against the dollar, as traders trim bets that the return of Donald Trump will send tremors throughout global markets.

(4) Apple Chief Executive Officer Tim Cook is visiting China for at least the third time this year, showing up at a suppliers’ conference on the same day a top Beijing official convened an important meeting with a group of foreign CEOs.

(5) Iran plans to hold talks about its nuclear program with the UK, France and Germany this week, Kyodo reported on Sunday, citing Iranian diplomatic sources who weren’t identified.

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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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(1) American defense firms should be alert for Russian actors sabotaging their operations at home and abroad as Moscow seeks to undermine support for Ukraine, US intelligence and national security agencies said Thursday. 

(2) Matt Gaetz withdrew from consideration to be US attorney general in a setback for Donald Trump. Gaetz's campaign later disclosed millions in payments to Stripe, drawing an FEC complaint by a campaign-finance advocacy group. Pam Bondi will be nominated instead.

(3) Ken Griffin said he's open to selling a minority stake in his hedge fund Citadel. But he's steering clear of an IPO for his security unit for "the foreseeable future" due to regulatory burdens.

(4) UK consumer confidence posted a surprise increase in November after the budget ended uncertainty over the tax and spending plans of the new Labour government, a survey found.

(5) As the ultra rich flood a once quiet part of Portugal, Christian Louboutin is among those fighting to save the region

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On today's podcast:

(1) Nvidia predicted fiscal fourth-quarter sales of about $37.5 billion. Though the average analyst estimate was $37.1 billion, projections ranged as high as $41 billion. 

(2) US prosecutors charged Gautam Adani with helping drive a $250 million bribery scheme, throwing the Indian tycoon's conglomerate back into turmoil just as it was rebounding from a short-seller's fraud allegations.

(3) Archegos Capital Management founder Bill Hwang was ordered to spend 18 years in prison for fraud and market manipulation tied to the stunning 2021 collapse of his $36 billion family office, capping a case that riveted Wall Street.

(4) Ukrainian forces fired British cruise missiles at military targets inside Russia for the first time, expanding the use of Western-provided long-range weapons as the 1,000-day conflict enters a new phase.

(5) The Bank of Mom and Dad is becoming a growing source of finance for UK adults looking to get on the housing ladder, according a new Resolution Foundation report.

(6) Global havens for the wealthy see an opportunity to lure away UK non-doms — and they're hosting roadshow-type events to gauge their interest. 

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On today's podcast:

(1) Keir Starmer used his biggest international summit since becoming prime minister to say Britain was back and “looking outward to the world again.” Asserting a global role for his government proved more elusive.

(2) Vladimir Putin’s war on Ukraine is escalating after months of bloody attrition. The G20 meeting has been most notably overshadowed by the latest escalatory actions from Moscow and Kyiv.

(3) Hong Kong’s former newspaper titan Jimmy Lai dismissed the idea of advocating for independence as “crazy” and downplayed his foreign ties, in his debut testimony fighting national security charges that could silence the 76-year-old for life.

(4) President-elect Donald Trump is tapping Cantor Fitzgerald LP chief executive officer Howard Lutnick to lead the Commerce Department, a central pick in an administration that will likely be shaped by sweeping tariff hike proposals.

(5) Britain has underestimated the number of people in employment by almost 1 million, according to a new report that casts further doubt on official estimates that are crucial for the Bank of England.

(6) Nvidia is poised to deliver its latest quarterly results and forecasts on Wednesday, showing whether the world’s most valuable company can continue its remarkable run fueled by spending on artificial intelligence hardware.  

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On today's podcast:

(1) Hedge-fund titan Ken Griffin said he’s anxious about Donald Trump’s potential tariff policies, but that the US economy is going back to “the business of business” now that he’s returning to the White House.

(2) The UK will have to balance any deal on tariffs offered by US President-elect Donald Trump with wider concerns on how it would affect trade ties with the European Union, Business and Trade Secretary Jonathan Reynolds said Monday.

(3) Europe should pool its resources in areas like defense and climate as its productivity growth falters and the world fragments into rival blocs, European Central Bank President Christine Lagarde said.

(4) Top Justice Department antitrust officials have decided to ask a judge to force Alphabet Inc.’s Google to sell off its Chrome browser in what would be a historic crackdown on one of the world’s biggest tech companies.

(5) A Hong Kong court sentenced former democracy advocate Benny Tai to 10 years in prison, the longest sentence ever meted out using a China-imposed security law, in a move likely to further deter dissent in the finance hub and attract condemnation from Western governments. 

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On today's podcast:

(1) The US is approaching a final decision to lift some restrictions on Ukraine’s use of Western-made weapons to strike limited military targets in Russia, according to people familiar with the matter.

(2) Xi Jinping used his final meeting with Joe Biden to send a clear message to Donald Trump: China wants to be friends, but is ready for a fight if necessary.

(3) The search for Donald Trump’s chief economic policymaker devolved into disarray over the weekend, with contenders tussling for support, aides scrambling to find alternative candidates and the president-elect fuming over the behind-the-scenes jockeying that has spilled into public view.

(4) Support for Chancellor Olaf Scholz to lead Germany’s Social Democrats into an early election is starting to crumble within his own ranks, according to people familiar with the situation.

(5) UK inflation probably surged back above the Bank of England’s target in October, reinforcing the case for policymakers to act cautiously when cutting interest rates.

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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 Nvidia earnings and existing home sales.
• In the UK – a preview of the upcoming G20 summit.
• In Asia – a preview of the PBOC’s upcoming rate decision and also the G20 summit.

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On today's podcast:

(1) Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.

(2) Bank of England Governor Andrew Bailey has warned Chancellor of the Exchequer Rachel Reeves not to raise tariffs in retaliation to an expected wave of US-led protectionism, amid fears that President-elect Donald Trump will kick off a global trade war once he is sworn in next year.

(3) Rachel Reeves said the UK’s crackdown on banks in the wake of the global financial crisis has gone too far and vowed to give the country’s watchdogs new marching orders to ensure they’re focused on growing the economy.

(4) JPMorgan Chase Chief Executive Officer Jamie Dimon said President-elect Donald Trump’s tariff threats will “get people to the table,” adding that he hopes it’s “done wisely.” Trump ruled out giving a post to Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer.

(5) China’s economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing’s recent stimulus efforts have boosted some key sectors.

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On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves said the UK will introduce legislation next year to pool £1.3 trillion ($1.7 trillion) of pension savings into a series of “megafunds,” as the new Labour government tries to deliver on its pledge to boost private investment and economic growth.

(2) President-elect Donald Trump shocked Washington with his decision to nominate ultra-loyalist Matt Gaetz as his attorney general. The move rammed home what’s become evident since he began announcing his nominations: Subservience to Trump is the main qualification for a job.

(3) Several Federal Reserve officials Wednesday reiterated their deep uncertainty over how far the central bank will need to lower interest rates, highlighting the difficulty policymakers face in trying to determine the right setting to keep the economy on an even keel.

(4) Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance.

(5) French President Emmanuel Macron has warned that Europe risks getting divided by Donald Trump’s economic policy and being thrown into a simultaneous trade war with Washington and Beijing.

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On today's podcast:

(1) Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency tasked to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” President-elect Donald Trump announced.

(2) The expected appointment of officials with strong anti-China views to President-elect Donald Trump’s cabinet was welcomed by hedge fund veteran Kyle Bass, even as it risks straining ties between the world’s largest economies.

(3) Federal Reserve Bank of Minneapolis President Neel Kashkari said he’ll be looking at incoming inflation data to determine whether another interest-rate cut is appropriate at the US central bank’s December meeting. It comes as traders are loading up on bets for further losses in the Treasury market in anticipation that Donald Trump’s pledged policies will rekindle inflation and keep US interest rates high.

(4) Germany’s election campaign kicks into high gear on Wednesday, when Chancellor Olaf Scholz makes his case in a public address for another term, despite polls showing voters are overwhelmingly looking for a change.

(5) The Bank of France expects the economy to stagnate in the fourth quarter after growth was boosted by the Paris Olympics in the previous three months and as the political situation continues to add to business uncertainty.

(6) Apple, aiming to catch up with rivals in the smart home market, is nearing the launch of a new product category: a wall-mounted display that can control appliances, handle videoconferencing and use AI to navigate apps.  

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On today's podcast:

(1)  President-elect Donald Trump is poised to pick two men with track records of harshly criticizing China for key posts in his new administration, a sign relations between the superpowers may deteriorate further in coming years. Senator Marco Rubio — who has taken an aggressive stance on China's emergence as an economic power — is set to become the first sitting secretary of state to have been sanctioned by Beijing. Florida Representative Mike Waltz, who has called China a "greater threat" to the US than any other nation, is in line to be national security adviser.

(2) Bitcoin's record-breaking rally took the digital asset past $89,000 and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump.

(3) China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter. 

(4) The UK will begin issuing digital gilts within the next two years, using blockchain technology to "tokenize" its government debt, Chancellor Rachel Reeves is expected to say in a speech Thursday. The hope is that it will make gilt trading faster and cheaper.

(5) Nestle needed change at the top — so it's leaning on tradition with a new boss from within to win investors back 

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On today's podcast:

(1) President-elect Donald Trump said he will install Tom Homan, the former acting head of the U.S. Immigration and Customs Enforcement agency, as a “border czar” with oversight over immigration, maritime and aviation security.

(2) Trump spoke with Russian President Vladimir Putin on Thursday, the first phone conversation between the two men since Trump won the election, according to reporting in the Washington Post.

(3) The bond-market selloff unleashed by Donald Trump’s presidential victory last week ended almost as quickly as it began. Yet firms like BlackRock, JPMorgan Chase and TCW have issued a steady drumbeat of warnings that the bumpy ride is likely far from over.

(4) German Chancellor Olaf Scholz said he’s open to moving up a parliamentary confidence vote by several weeks to before Christmas, potentially speeding up the country’s early election to February.

(5) UK Chancellor Rachel Reeves will champion free trade and economic growth in a keynote speech this week, as Labour faces pressure to both preempt protectionist trade policies expected from the incoming Trump administration and to reassure businesses facing a higher tax bill. 

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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 CPI data and earnings from Walt Disney.
• In the UK – a preview of UK Chancellor Rachel Reeves speech in London.
• In Asia – a look at the effects of Donald Trump's re-election on US-China relations, and a preview of Tencent earnings.

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On today's podcast:

(1) Federal Reserve Chair Jerome Powell made clear he's ready to defend the US central bank from political pressure following the re-election of Donald Trump, saying he wouldn't resign if asked and insisting the incoming president doesn't have the power to fire him or other senior Fed leaders.

(2) Donald Trump's team is forming a new administration and the president-elect is expected to draw top advisers and cabinet secretaries from a pool of Wall Street and business executives including officials from his first term — at least the ones who stuck by him.

(3) The Bank of England has supported UK Chancellor Rachel Reeves' debut budget, despite market concerns over inflation and borrowing

(4) The head of HSBC's new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring "very quickly" and could announce the first round of job cuts within weeks.

(5) Goldman Sachs has added 95 executives to its partnership, the largest addition since CEO David Solomon took over. 

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On today's podcast:

(1) Donald Trump's return to the White House is adding fresh ammo to a decade-long investment strategy that echoes his "Make America Great Again" mantra in a replay of the 2016 playbook.

(2) Vice President Kamala Harris told supporters to accept her election loss at the hands of President-elect Donald Trump but urged them to keep fighting for the ideals she espoused in her campaign as she publicly conceded the 2024 presidential race.

(3) After the Federal Reserve announces what's widely expected to be a quarter-point cut in interest rates, Chair Powell will have to field a barrage of questions about what Donald Trump's return to the White House will mean for growth, inflation and borrowing costs.

(4) The Bank of England is likely to lower interest rates for only the second time this year in a decision that will be overshadowed by the fallout from the UK budget and Donald Trump's election victory.

(5) German Chancellor Olaf Scholz called for a snap election after his fractious, three-way coalition finally collapsed over how to revive the lackluster economy. 

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On today's podcast:

(1) Republican nominee Donald Trump is on the cusp of recapturing the White House, projected as the winner across pivotal battleground states with his party set to control the Senate and markets swinging in expectation of his likely triumph.

(2) While Trump has not yet been declared the winner by most news outlets, he won Pennsylvania, puncturing Democrats’ Blue Wall and all but ending Democratic nominee Kamala Harris’ hopes of mounting a comeback.

(3) US stocks surged, with S&P futures climbing 1.4%; the dollar posted its biggest gain against major currencies since 2020; Treasury bonds tumbled, sending benchmark yields up more than 0.1 percentage point; and Bitcoin soared to a record.

(4) Republicans flip control of the US Senate. They now control at least 51 seats in the 100-member chamber. The GOP knocked out veteran Sherrod Brown in Ohio and picked up an open seat in West Virginia.

(5)World leaders congratulated Donald Trump as he declared victory in the US election, capping one of the most tumultuous campaigns in modern political history to defeat his Democratic challenger Kamala Harris. 

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On today's podcast:

(1)  Donald Trump and Kamala Harris concluded one of the most tumultuous and dramatic presidential campaigns in modern political history with dueling rallies late Monday, capping a furious final dash through battleground states that will decide the 2024 race.

(2) Stocks failed to gain traction and bonds climbed, with polls continuing to depict a tight race in the US presidential election ahead of the Federal Reserve rate decision.

(3) Elon Musk's daily million-dollar voter giveaway survived a legal challenge by Philadelphia's district attorney ahead of Tuesday's presidential election as a judge in the crucial battleground state of Pennsylvania declined to block it.

(4) Apple is exploring a push into smart glasses with an internal study of products currently on the market, setting the stage for the company to follow Meta Platforms into an increasingly popular category.

(5) The UK has spent more than a year trying to get hundreds of guns moved from floating armories that are helping Russia profit enormously from its oil trade despite widespread sanction 

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Be in the know this election with Bloomberg Podcasts. Follow Bloomberg News Now for up-to-the minute election results, all night long. And go deeper with The Big Take podcast, featuring in-depth global analysis of the US election every day this week. 

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

On today's podcast:

(1) A flurry of polls released Sunday show Vice President Kamala Harris and former President Donald Trump remain poised for a photo finish in this week's presidential election, with voters narrowly split both nationally and across the pivotal swing states that will decide the election.

(2) Oil advanced after OPEC+ agreed to push back its December production increase by one month and tensions escalated again in the Middle East.

(3) Chancellor Rachel Reeves said she was wrong to tell British voters before the election that Labour wouldn't announce new tax increases, even as she assured them there wouldn't be a repeat of her first budget in the coming years. 

(4) Kemi Badenoch beat Robert Jenrick in the Conservative Party's leadership contest to become the first Black leader of a major UK political party.

(5) Novo Nordisk's Ozempic shot is likely to become the world's top-selling drug next year, but the company must prove it has something even better to stay ahead in the obesity market.

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

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

On today's podcast:
(1) Chancellor of the Exchequer Rachel Reeves sought to reassure the financial markets after her budget on Wednesday triggered a selloff in UK bonds, saying that the “No. 1 commitment” of the Labour government is “economic and fiscal stability.

(2) Apple heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market.

(3) Intel gave a fourth-quarter revenue forecast slightly above estimates, sparking optimism that it’s capable of reclaiming some lost market share.

(4) Amazon reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce giant on sounder footing.

(5) Donald Trump and his allies are telling supporters that they’re on pace for a runaway victory barring fraud — setting the stage for outrage and legal challenges if the election doesn’t break in favor of Republicans. 

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On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves delivered a massive package of tax hikes alongside plans to ramp up public investment in a historic first budget that aimed to revive the UK economy — but fell short of delivering a major boost to its growth prospects.

(2) Labour's first budget in over a decade raises taxes by £40 billion a year to fund a £70 billion annual increase in public spending. The plan marks a shift back to big state economics, with spending as a share of GDP set to be 5 percentage points higher than before the pandemic.

(3) Shell kept up the pace of its share buybacks after profit fell less than expected amid rising sales volumes of natural gas. 

(4) Microsoft shares dropped in late trading after the software maker forecast slower quarterly cloud revenue growth, reflecting the company’s struggle to bring data centers online fast enough to keep up with demand for artificial intelligence services.

(5) Meta CEO Mark Zuckerberg will ramp up heavy investments in AI and other futuristic technologies, continuing a years-long tug-of-war between the company’s long-term bets and the core advertising business that provides the vast majority of Meta’s revenue.

(6) Starbucks' new Chief Executive Officer Brian Niccol, addressing investors for the first time since taking the company’s helm, laid out his vision of strategic changes to reboot the struggling coffee chain — from reining in drink customization to revising the staffing model.

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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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On today's podcast:

(1) HSBC has announced a fresh multi-billion dollar stock buyback as it reported better-than-estimated earnings, days after unveiling a major overhaul of its businesses.

(2) Banco Santander has posted better-than-expected profit in the third quarter, as the lender sees progress in adjusting to lower interest rates.

(3) Goldman Sachs CEO David Solomon is sounding a bullish note on the outlook for dealmaking, singling out investments in technology as a bright spot.

(4) Volkswagen is embarking on an unheard-of German restructuring in what amounts to comeuppance for having allowed issues at its namesake brand to fester for years.

(5) A proposal to divide up the UK power market and unleash free electricity in the windiest parts of the nation is turning into a bitter fight between its biggest energy companies.

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On today's podcast:

(1) UK Prime Minister Keir Starmer said his government would “embrace the harsh light of fiscal reality,” as Chancellor of the Exchequer Rachel Reeves prepares to reveal a historic package of tax hikes and extra borrowing in a make-or-break budget on Wednesday.

(2) Oil tumbled more than 5% at the start of the week after Israeli strikes against targets in Iran avoided the OPEC member’s crude facilities, raising the prospect for easing hostilities in the region.

(3) Japan faces a period of political instability after the ruling coalition failed to win a majority in parliament for the first time since 2009, setting up a race among two main blocs to form a government.

(4) Boeing is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the beleaguered airplane maker boost its liquidity.

(5) Slowing profit growth is removing some of the invincibility surrounding the stock market’s technology giants as they prepare to report earnings this week. Whether they can reverse that trend will go a long way to determining if the rally in equities can keep going. 

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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 the October jobs report, and U.S tech earnings.
• In the UK – a look at diversity and inclusion efforts in the UK’s financial services sector.
• In Asia – a preview of Hong Kong’s FinTech week and a meeting of Bank of Japan officials.

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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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On today's podcast:

(1) Vice President Kamala Harris deepened her closing argument to undecided voters that Donald Trump is unfit to serve a second term, classifying her opponent as a fascist in response to a question during a CNN town hall in key swing-state Pennsylvania.

(2) German Finance Minister Christian Lindner warned Donald Trump against starting a trade war with the European Union if he returns to the White House because imposing tariffs would hurt both sides.

(3) Tesla's market value soared by $80 billion after the EV maker reported its biggest quarterly profit in more than a year and issued upbeat forecasts for 2025.

(4) Boeing factory workers rejected a new labor contract that would have increased their wages by 35% over four years, dealing a blow to the embattled aircraft manufacturer as it tries to overcome a crippling work stoppage.

(5) Prime Minister Keir Starmer said there’s “no reason” for entrepreneurs to leave the UK, even as Chancellor of the Exchequer Rachel Reeves studies proposals to raise taxes on the wealthy, property, inheritance and pensions in her budget next week. 

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

On today's podcast:

(1) Bonds around the world are falling as investors mull prospects of slower US interest-rate cuts, a trend that risks upending debt positions everywhere.

(2) HSBC unveiled a broad restructuring across different business lines and geographies as newly appointed Chief Executive Officer Georges Elhedery embarks on ambitious cost cuts at the banking behemoth.

(3) President Vladimir Putin will play host to Russia’s biggest gathering of world leaders since the invasion of Ukraine and use the BRICS summit to show the US and its allies that he’s no pariah.

(4) US Secretary of State Antony Blinken took off Monday for his 11th visit to the Middle East in his so-far unsuccessful effort to engineer a cease-fire between Israel and Iran-backed militants since the attack on Israel more than a year ago.

(5) Plus -- Bloomberg's top 25 UK startups to watch in 2024.  

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

On today's podcast:

(1) A day after a Hezbollah drone penetrated Israel’s air defenses and exploded next to the private home of Prime Minister Benjamin Netanyahu, he held a series of meetings with top security aides to discuss the next attack on Iran.

(2) China cut its benchmark lending rates after the central bank lowered interest rates at the end of September as part of a series of measures aimed at reviving economic growth and halting a housing market crash.

(3) The fast money on Wall Street has taken a close look at key sectors in the green economy and decided to bet against them.

(4) Vice President Kamala Harris predicted former President Donald Trump’s lack of decorum would be a disqualifier with voters as the candidates are locked in an exceedingly tight race with 16 days to go.

(5) UK Chancellor of the Exchequer Rachel Reeves will set aside billions of pounds for the National Health Service in her budget next week as the institution kicks off an extensive program of reform.  

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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 Boeing and UPS earnings.
• In the UK – a look ahead to UK bank earnings.
• In Asia – a preview of next week's BRICS Summit in Russia.

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

(1) Israeli soldiers killed Hamas leader Yahya Sinwar, the architect of the Oct. 7 attack, in a death that leaves a huge hole at the top of the militant group and spurred fresh US pressure for Prime Minister Benjamin Netanyahu to end the war in the Gaza Strip.

(2) China’s central bank moved to support markets just as data showed the economy expanding the least in six quarters, signaling the government’s intent to continue a stimulus push to draw a line under the slowdown.

(3) European Central Bank officials reckon another interest-rate cut in December is highly likely, with inflation to settle at 2% faster than envisaged, according to people familiar with the matter.

(4) Traders at some of the world's biggest banks have allegedly been misled by cold callers dangling the prospect of jobs at the likes of Goldman Sachs Group Inc. and Morgan Stanley in exchange for details about their salaries, the make-up of their teams and even their desk’s confidential profit and loss statements. But often the jobs don’t exist. Neither does the named caller. Even their supposed employer — firms like Omertion Group or AMO Search — aren’t real.

(5) Netflix added more than 5 million customers in the third quarter and eclipsed Wall Street’s expectations on every major financial metric despite a new programming slate constrained by last year’s strikes in Hollywood.

(6) City firms publicly say they’re still committed to diversity, equity and inclusion efforts. Their staff don’t agree. 

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

On today's podcast:

(1) Billionaire investor Stan Druckenmiller said markets are pricing in a Donald Trump victory ahead of next month’s US presidential election.

(2) Vice President Kamala Harris sought to deflect criticism over the administration’s handling of the border crisis, her stance on transgender rights and her ties to President Joe Biden in a combative interview Wednesday on Fox News.

(3) China’s economy likely grew at its weakest pace in six quarters, prompting Beijing to roll out a swath of stimulus measures in late September to draw a line under the slowdown.

(4) Europe should use the challenges posed by an increasingly fragmented world order and geopolitical conflicts as an opportunity to strengthen the foundations of its domestic market, according to European Central Bank President Christine Lagarde.

(5) UK Chancellor Rachel Reeves could raise £15 billion ($20 billion) a year from the wealthiest Britons by targeting capital gains and inheritance without triggering an exodus of millionaires, according to two think tank reports. 

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

On today's podcast:

(1) UK inflation slipped below the Bank of England’s 2% target for the first time in more than three years, spurring investors to bet on a quicker pace of interest-rate cuts in the coming months. 

(2) ASML shares plunged the most in 26 years after it booked only about half the orders analysts expected, a startling slowdown for one of the bellwethers of the semiconductor industry.

(3)  LVMH’s sales of fashion and leather goods fell for the first time since the pandemic as the industry’s biggest player was hammered by a slump in demand from Chinese consumers whose appetite for high-end purchases once seemed insatiable.

(4) Chinese stocks dipped after early fluctuations, in a sign of growing disappointment over the pace of stimulus rollout.

(5) The European Union has prepared a list of American goods it could target with tariffs if former President Donald Trump wins the US election and follows through on his threat to hit the bloc with punitive trade measures.

(6) UK Prime Minister Keir Starmer’s political aides plan to confer with advocates for the nation’s so-called non-dom population of wealthy foreigners amid concerns his Labour Party’s intended tax hikes may end up costing money. 

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

On today's podcast:

(1) ASML shares plunged the most in 26 years after it booked only about half the orders analysts expected, a startling slowdown for one of the bellwethers of the semiconductor industry.

(2) LVMH’s sales of fashion and leather goods fell for the first time since the pandemic as the industry’s biggest player was hammered by a slump in demand from Chinese consumers whose appetite for high-end purchases once seemed insatiable.

(3) Chinese stocks dipped after early fluctuations, in a sign of growing disappointment over the pace of stimulus rollout.

(4) The European Union has prepared a list of American goods it could target with tariffs if former President Donald Trump wins the US election and follows through on his threat to hit the bloc with punitive trade measures.

(5) UK Prime Minister Keir Starmer’s political aides plan to confer with advocates for the nation’s so-called non-dom population of wealthy foreigners amid concerns his Labour Party’s intended tax hikes may end up costing money.

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

On today's podcast:

(1) Biden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said, a move that would limit some nations’ artificial intelligence capabilities.

(2)  China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich, according to people familiar with the matter.

(3) Prime Minister Keir Starmer used a glitzy London investment summit to proclaim growth and wealth creation the cornerstones of his government, seeking to draw a line under a rocky first three months in power that saw his negative rhetoric about the state of the public finances weigh on economic sentiment.

(4) UK wages grew at the slowest pace in more than two years over the summer, a sign of easing inflationary pressures that keeps the Bank of England on track to cut interest rates in November.

(5) Israel said it is listening to US misgivings about its planned counter-strike against Iran but will act based on its own assessments, following a report suggesting Prime Minister Benjamin Netanyahu could spare Tehran’s nuclear and energy facilities from any immediate reprisal. 

(5) Oil fell for a third session after a report that Israel may avoid targeting Iran’s crude infrastructure eased concerns over a major supply disruption.

(6) After JPMorgan & Wells Fargo positively surprised investors last week with unexpected gains in net interest income and investment bank fees, attention shifts to Goldman Sachs, Bank of America and Citigroup, followed by Morgan Stanley a day later.

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

On today's podcast:

(1) China’s highly anticipated Finance Ministry briefing on Saturday lacked the firepower that equity investors had hoped for, indicating that the volatility that’s gripped the market following a world-beating rally will likely extend.

(2) UK Prime Minister Keir Starmer will vow to scrap regulations holding back growth, as he seeks to soothe concerns among international investors after a rocky first 100 days in power.

(3) Vice President Kamala Harris needled her Republican opponent Donald Trump for keeping his medical records out of public view, saying he isn’t being transparent with American voters.

(4) TSMC is planning more plants in Europe with a focus on the market for artificial intelligence chips, according to a senior Taiwanese official, as the chip maker expands its global footprint.

(5) Cracks are finally appearing in the euro zone’s labor market after years of unexpected resilience — spurring the European Central Bank to lower interest rates more speedily.

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It's almost 100 days since Keir Starmer's Labour government was elected - on a pledge to 'change Britain' and reboot economic growth.

But the investors and business people Labour courted ahead of that landslide win are increasingly concerned about progress and the big decisions in the budget.

We spoke to top investors and financiers for their views on the new administration's first steps. Hosted by Caroline Hepker. 

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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 Retail sales and Netflix earnings.
• In the UK – a preview of next week’s ECB meeting.
• In Asia -  a look ahead to China trade data and TSMC earnings.

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

On today's podcast:

(1) One hundred days into Britain’s new Labour government, executives say ‘we can’t live without the details indefinitely.’

(2) Elon Musk unveiled long-awaited prototypes of a Tesla robotaxi called Cybercab, saying production may start in 2026 and that the vehicle could cost less than $30,000.

(3) The French government unveiled a budget for next year that aims to deliver a €60.6 billion ($66.2 billion) remedy for its creaking public finances and rebuild investor confidence even as it risks eviction by a hostile parliament.

(4) Investors and analysts are expecting China to deploy as much as 2 trillion yuan ($283 billion) in fresh fiscal stimulus as Beijing seeks to shore up the world’s No. 2 economy and boost confidence.

(5) Three Federal Reserve policymakers on Thursday were unfazed by a higher-than-forecast September inflation report, suggesting the US central bank can continue lowering interest rates, but a fourth hinted he may favor a pause at their next meeting. 

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

On today's podcast:

(1) Hurricane Milton slammed into Florida’s west coast near Tampa with tree-snapping winds and heavy rain, pushing a wall of water onshore and putting lives at risk in the densely populated region.

(2) Federal Reserve Chair Jerome Powell is unlikely to win another big interest-rate cut from his policy committee so long as the labor market holds up.

(3) President Joe Biden has warned Israel against attacking Iran’s nuclear sites, and US officials worry a strike on its energy infrastructure could roil energy markets. But with Israeli retaliation against Iran expected at any time, the US is finding it has few assurances against further escalation.

 
(4) Keir Starmer’s new UK government unveils a package of new workers’ rights on Thursday, one of the Labour Party’s key promises in its election-winning manifesto that seeks to balance competing demands of trade unions and business leaders he’s been courting for the past four years.

(5) Conservative Members of Parliament knocked former Home Secretary James Cleverly out of the race to be the UK opposition’s next leader in a shock result that leaves two right wingers, Kemi Badenoch and Robert Jenrick, to battle it out.

(6) Craig Billings’ biggest wager as chief executive officer of Wynn Resorts is starting to pay off. The company is developing its newest outpost in the United Arab Emirates even though the government still hasn’t technically legalized gambling.

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

On today's podcast:

(1) The US Justice Department told a federal judge it’s considering recommending that Google be forced to sell off parts of its operations to alleviate the harm caused by its monopolization of the online search market, in what would be a historic antitrust breakup.

(2) Ever since President Xi Jinping sought to draw a line under China’s slowdown last month, investors have clamored for him to back up monetary easing with a powerful fiscal stimulus to help fuel one of the nation’s biggest stock rallies in years. 

(3) France is waking up to a harsh reality: its fall from favor in the eyes of global investors is pointing to a long, painful and uncertain rehabilitation.

(4) Regulators in the US and UK should make it easier for companies to go public, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said.

(5) Hurricane Milton churned toward Florida’s west coast as a dangerous Category 5 storm, with flooding and high winds expected to inflict widespread damage and put lives at risk.

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On today's podcast:

(1) A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.

(2) Brent oil tumbled below $80 a barrel as expectations for more stimulus from China fizzled, sparking a risk-off mood across markets.

(3) Milton, the Atlantic’s strongest hurricane this year, is set to approach the Florida peninsula as a catastrophic Category 5 storm, bearing down on a region still struggling to recover from Helene’s devastation.

(4) When Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves plotted Labour’s path to power in the UK, they banked on eye-catching moves to hike taxes on private equity and ultra-rich “non-dom” residents to fund key spending plans. Now, those promises are meeting reality.

(5) The UK is opening an office to speed up approvals of novel technologies, including drones and pest-resistant crops, as part of plan to improve the business climate ahead of a major government investment summit. 

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

On today's podcast:

(1) As the Middle East marks a year since the deadly Oct. 7 attacks by Hamas, Israel is locked in a multi-front war with no clear end, sending troops back to northern Gaza and keeping up intense aerial attacks and a limited ground maneuver in Lebanon.

(2) Oil opened the week lower as the market waited to see if Israel would retaliate against Tehran for a missile attack last week, with President Joe Biden discouraging a strike on Iran’s crude fields.

(3) The world-beating rally in Chinese stocks is failing to convince many global fund managers and strategists.

(4) The European Central Bank will “quite probably” cut interest rates at its next meeting later this month, according to Governing Council member Francois Villeroy de Galhau.

(5) Keir Starmer replaced his top aide and the Treasury acknowledged that key tax-raising plans were under review, as the Labour government tried to correct course from what even allies say has been a rocky three months in power. 

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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 CPI and PPI data, along with bank earnings.
• In the UK – a look ahead to the 2024 Nobel Prize selection.
• In Asia – a look ahead to what’s next for Japan, after its ruling party picked Shigeru Ishiba as its new leader.

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

On today's podcast:

(1) Oil steadied — following its biggest one-day jump in almost a year — as fears that Israel may decide to strike Iranian crude facilities in retaliation for a missile barrage kept the market on edge.

(2) Planned tax increases to get France’s budget deficit under control will hit about 300 of the country’s biggest companies, Prime Minister Michel Barnier said.

(3) Online fashion retailer Shein is preparing to start early, informal meetings with investors to gauge interest ahead of a potential initial public offering in London, according to a person familiar with the matter.

(4) HSBC has canceled some internal events and further curtailed travel as the bank’s new chief executive seeks to keep a tight lid on costs ahead of his first quarterly results.

(5) Economists anticipate that hiring picked up slightly in September while the unemployment rate held steady at 4.2%, an outcome that would assuage any lingering concerns that labor demand is deteriorating. 

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

On today's podcast:

(1) President Joe Biden said Israel should hold off from attacking Iran’s nuclear facilities in retaliation for a missile barrage this week, as Group of Seven nations sought to tamp down a spiraling conflict that threatens to pull the US even deeper in.

(2) OpenAI has completed a deal to raise $6.6 billion in new funding, giving the artificial intelligence company a $157 billion valuation and bolstering its efforts to build the world’s leading generative AI technology.

(3) French President Emmanuel Macron endorsed a temporary tax on the country’s largest companies, supporting his new government’s strategy even as it departs from his longstanding pro-business stance.

(4) Prime Minister Keir Starmer promised to “stand firm” during what are likely to be difficult negotiations to forge closer ties with the European Union, as he announced the first-ever UK-EU bilateral summit next year.

(5) UK Prime Minister Keir Starmer paid back more than £6,000 ($8,000) worth of gifts and hospitality he has received since entering 10 Downing St., as he sought to quell a freebie controversy that has distracted from the early work of his administration. 

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

On today's podcast:

(1) Iran fired about 200 ballistic missiles at Israel on Tuesday, a sharp but brief escalation between Middle Eastern adversaries that threatened to trigger a fresh round of attacks as Prime Minister Benjamin Netanyahu vowed to retaliate.

(2) Global benchmark Brent climbed above $74 a barrel, after briefly spiking more than 5% on Tuesday following the Iranian assault, which was preceded by a warning from the US. West Texas Intermediate advanced to near $71, although it also remained below the previous session’s peak.

(3) Vice presidential nominees JD Vance and Tim Walz met for their first and potentially only debate before the November election, as the two Midwesterners with economic populist streaks try to win over undecided voters.

(4) Prime Minister Michel Barnier delayed a target date to bring the budget deficit within the European Union limit by two years in an admission of the dire state of France’s finances.

(5) Prime Minister Keir Starmer’s trip to Brussels on Wednesday will be his first real foray into forging a new post-Brexit relationship with Europe, a process expected to take months, if not years amid competing priorities. 

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

On today's podcast:

(1) Israel said it had begun “targeted ground raids” in southern Lebanon, escalating a campaign to root out Hezbollah despite international appeals for restraint.

(2) Federal Reserve Chair Jerome Powell said the central bank will lower interest rates “over time,” while again emphasizing that the overall US economy remains on solid footing.

(3) Christine Lagarde said the European Central Bank is becoming more optimistic that it will be able to get inflation under control, and will reflect on that at its October interest-rate decision.

(4) Business chiefs are the most pessimistic they have been about Britain’s economy since late 2022, when the country was still reeling from the effects of Liz Truss’s short spell as prime minister.

(5) Dockworkers have walked out of every major port on the US East and Gulf coasts, marking the beginning of a strike that could ripple through the world’s largest economy and cause political turmoil just weeks before the presidential election. 

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

On today's podcast:

(1) Nearly a year after Hamas’ unprecedented assault shattered their spirits, Israelis are in a triumphant mood over the pummeling their military has given Lebanon’s Hezbollah and the killing of its elusive leader.

(2) Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.

(3) UK Chancellor Rachel Reeves is aiming to attend a meeting of EU finance ministers before the end of the year, the Financial Times reports.

(4) Rishi Sunak had one warning for the Conservatives in an otherwise low-profile speech at the party’s annual conference: End the “squabbling” that derailed his UK premiership. It likely fell on dead ears.

(5) Chinese manufacturers sold the fewest electric cars in 18 months to customers across Europe, with registrations falling by nearly half in August from a year earlier. 

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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 the September jobs report and the Vice Presidential debate.
• In the UK – a look at some of the challenges France’s new government will face.
• In Asia – a look ahead to China’s Golden Week.

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

(1) China cut the amount of cash banks must keep in reserve Friday and lowered a key policy rate, as Beijing rolls out a strong stimulus package unveiled this week in a push to shore up the slowing economy and investor confidence.

(2) Israeli Prime Minister Benjamin Netanyahu vowed the military would maintain its bombardment of Hezbollah targets in Lebanon indefinitely, while engaging with efforts by the US and allies to secure a cease-fire that would ease the risk of a regional war. 

(3) Chancellor of the Exchequer Rachel Reeves is considering tweaks to her overhaul of the UK's tax regime for wealthy foreigners, amid concern that Labour's current plans may end up costing revenue.

(4) UK Prime Minister Keir Starmer dined with Donald Trump for two hours as he sought to move past previous criticism of the former president to burnish personal relations ahead of a US election that may return him to power.

(5) Vice President Kamala Harris has all but neutralized Donald Trump's advantage on economic issues, fueling an upbeat showing for the Democrat in battleground states where she and the former president are locked in a tight race about 40 days until the election.

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

On today's podcast:

(1) OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, people familiar with the matter said, a major shift that would mark the first time Altman is granted ownership in the artificial intelligence startup.

(2) China is considering injecting up to 1 trillion yuan ($142 billion) of capital into its biggest state banks to increase their capacity to support the struggling economy, according to people familiar with the matter.

(3) The US, European allies and Arab powers proposed a three-week cease-fire between Israel and Hezbollah in Lebanon as part of a bid to clear the way for negotiations and avert all-out war after days of air-strikes by Israeli forces.

(4)  Republican presidential nominee Donald Trump plans to meet with the new UK prime minister, Keir Starmer, as well as the president of the United Arab Emirates, according to a senior adviser, as the former president continues to hold sway with foreign leaders in the shadow of the US election.

(5) Qantas Airways ghost-flight scandal misled almost one million customers booked on tens of thousands of non-existent services, according to court documents that reveal the scale of the misconduct and the airline's awareness of the problem.

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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 lowered the interest rate charged on its one-year policy loans by the most on record, kicking off a sweeping program to revive confidence in the world’s second-largest economy.

(2) The debate over the magnitude of the Federal Reserve’s expected interest-rate cut in November is intensifying, with traders ramping up wagers in futures keyed to the central bank’s path as officials start to weigh in on their next move.

(3) The man who was found hiding in the bushes with a loaded rifle at Donald Trump’s golf course has been indicted for attempting to assassinate the former president.

(4) Keir Starmer warned Britons he will take “tough, long-term decisions” that will make him unpopular and said Labour’s program of “national renewal” is unchanged despite a slew of setbacks early in his premiership.

(5)Business Secretary Jonathan Reynolds dismissed warnings of a wealth exodus to escape potential Labour tax hikes, hitting back at criticisms that have been levied at Prime Minister Keir Starmer’s government. 

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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) The UK’s new Labour government won’t return to the austerity cuts of its Conservative predecessors, Chancellor of the Exchequer Rachel Reeves will promise on Monday, as she pivots toward a more positive narrative after weeks of warning about the dire state of the public finances.

(2) Prime Minister Michel Barnier opened the door to taxing wealthy individuals and large companies in a bid to repair France’s massive budget deficit and reassure international investors.

(3) Olaf Scholz’s Social Democrats held off the far-right Alternative for Germany and look set to cling on to power in the eastern state of Brandenburg, sparing the chancellor and his party another embarrassing electoral setback.

(4) China announced plans for a rare briefing on the economy by three top financial regulators just as it cut one of its short-term policy rates, fueling speculation officials are preparing to ramp up efforts to revive growth.

(5) Apollo Global Management has offered to make a multibillion-dollar investment in Intel, according to people familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy. 

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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 preview PCE inflation data

In the UK: We're looking ahead to one of the most pivotal periods on the political calendar 

In Asia: We take a look at the Liberal Democratic Party presidential election

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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) 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) The German government has started an internal probe into its Commerzbank AG share sale after the transaction allowed UniCredit  to swoop in and take a major stake in the lender. 

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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 led his colleagues to an outsize interest-rate cut designed to preserve the strength of the US economy as risks to the labor market mount, marking an end to their single-minded focus on quashing inflation.

(2) Traders ramped up their bets on the pace of future US interest-rate cuts after the Federal Reserve reduced its benchmark by half a point and signalled more cuts coming this year.

(3) The Bank of England is likely to decide against cutting interest rates for a second straight meeting, maintaining a patient approach to reversing the most aggressive policy tightening in decades.

(4) Israeli Defense Minister Yoav Gallant declared what he called a “new phase” in the war with regional Islamist groups and said troops would be diverted to the Lebanese border, an indication that long-held fears of a wider conflict may soon be realized.

(5) The City of London thinks the UK could attract as much as £7.7 billion ($10.2 billion) more investment by 2030 if it did a better job of attracting foreign sovereign wealth.

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

On today's podcast:

(1) Iran-backed Hezbollah accused Israel of orchestrating an attack that killed several people and left almost 3,000 wounded across Lebanon, increasing fears of an all-out war.

(2) Traders who are locked into record wagers tied to the Federal Reserve’s expected interest-rate cut Wednesday are risking sharp losses if officials opt for a standard-sized reduction.

(3) BlackRock Inc. and Microsoft Corp. are teaming up on one of the largest efforts to date to bankroll the build-out of data warehouses and energy infrastructure behind the boom in artificial intelligence.

(4) Steve Cohen has stepped away from the trading floor. While the billionaire hedge fund founder remains Point72 Asset Management’s co-chief investment officer along with Harry Schwefel, he’s no longer investing clients’ capital.

(5) The German Finance Ministry is sticking to a plan to sell off its entire stake in Commerzbank despite UniCredit's move to buy all the shares offered last week, according to people familiar with the matter.  

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

(1) Not since the lead-up to the financial crisis have bond traders been so divided about the outcome of the next Federal Reserve decision.

(2) Donald Trump is poised to capitalize on the second attempt on his life in recent months, using the shocking development to try to snatch back the political momentum that Vice President Kamala Harris has enjoyed.

(3) Amazon.com Chief Executive Officer Andy Jassy is moving to streamline the world’s largest online retailer and cloud-computing company, cutting management layers and ordering employees to return to the office five days a week beginning in January.

(4) Intel Chief Executive Officer Pat Gelsinger has landed Amazon.com Inc.’s AWS as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker.

(5) Stavanger harbor bustled in the sun on a recent afternoon, the hoisting cranes, working ships and rigs under construction testament to the city’s status as Norway’s oil capital, and the main source of its wealth. Stavanger harbor bustled in the sun on a recent afternoon, the hoisting cranes, working ships and rigs under construction testament to the city’s status as Norway’s oil capital, and the main source of its wealth.

(6) Keir Starmer said he’s looking to his Italian counterpart Giorgia Meloni for lessons on tackling so-called irregular migration, as Britain’s prime minister grapples with an issue fueling a rise in Western democracies of right-wing parties that are not natural allies of his center-left Labour government. 

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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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• In the US – a preview of next week’s Fed meeting and FedEx earnings.
• In the UK – a preview of Eurozone data.
• In Asia – a look at next week’s BOJ decision and TOKEN2049 Summit .

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

On today's podcast:

(1) Clues on when the European Central Bank will next cut interest rates were in short supply on Thursday, with President Christine Lagarde and colleagues awaiting data on how drastically the economy is deteriorating — and how that will shift inflation.

(2) The US and UK governments are discussing allowing Ukraine to deploy British cruise missiles backed by US navigational data to conduct long-range strikes inside Russian territory, according to people familiar with the matter. 

(3) The Bank of England's former Chief Economist -- Andy Haldane -- says the Chancellor's claim of a 22-billion pound 'black hole' in government finances is 'unnecessary, unhelpful' and a 'bad' idea.

(4) Republican Donald Trump ruled out appearing at another debate with Democrat Kamala Harris two days after he delivered an uneven performance at their first showdown of the election cycle.

(5) OpenAI is releasing a new artificial intelligence model known internally as “Strawberry” that can perform some human-like reasoning tasks, as it looks to stay at the top of a crowded market of rivals. 

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

On today's podcast:

(1) The bond market has ended its long flirtation with the Federal Reserve cutting interest rates by half a point this month as resilient inflation and labor market data reinforce a measured course of action.

(2) The European Central Bank is set to lower interest rates again, but will remain tight-lipped on the pace and extent of further action with inflation not yet fully defeated.

(3) Donald Trump said he is not inclined to have another debate with Kamala Harris after initially suggesting several additional matchups to supplement Tuesday’s forum.

(4) At least three top investment bankers from different securities firms have been detained by Chinese authorities since August, sending a chill through the industry.

(5) The early release of thousands of prisoners is a calculated move by the new government to relieve pressure on an aging system. Will it pay-off?