Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes.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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.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 – 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.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.See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.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. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. 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.See omnystudio.com/listener for privacy information.

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.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 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.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 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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) How has the push back against diversity, equity and inclusion policies, spearheaded by Donald Trump's White House, affected initiatives aimed at helping women invest more? CEO and founder of investment platform Propelle, Ayesha Ofori, joined hosts Caroline Hepker and Stephen Carroll to discuss   (7) 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.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) President Vladimir Putin refused to give Donald Trump the 30-day ceasefire in Ukraine he and his team had demanded on the path toward ending the three-year conflict. It was still good enough for the US president.(2) Morgan Stanley is planning to cut about 2,000 employees later this month in the first major workforce reduction under Chief Executive Officer Ted Pick.(3)  German lawmakers passed a landmark spending package, taking a major step toward unlocking hundreds of billions of euros in debt financing for defense and infrastructure and heralding the end of decades of budget austerity. (4) The Bank of Japan signaled growing unease over the potential impact on the global economy from escalating trade tensions, while keeping its key policy rate unchanged.(5) UK Prime Minister Keir Starmer’s move to cut disability benefits sets the scene for a showdown with the left of his governing Labour party as he seeks to prioritize fiscal prudence over social policy.(6) Two NASA astronauts stuck in orbit for nine months finally returned to Earth in a SpaceX craft, capping a saga that captured international attention and deepened America’s reliance on the Elon Musk-led company.(7) In France, rising taxes and political turmoil are having a chilling effect on the financial sector. Since last summer, international banks in Paris have quietly shelved expansion plans, after years of building its role as Europe's post-Brexit financial center.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.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. See omnystudio.com/listener for privacy information.

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.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 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.  See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.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 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.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 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.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 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. See omnystudio.com/listener for privacy information.

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__p0ASee omnystudio.com/listener for privacy information.

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 taxesSee omnystudio.com/listener for privacy information.

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. .See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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. 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 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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.  See omnystudio.com/listener for privacy information.