Bloomberg Daybreak: Europe Edition

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.  See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.  See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.

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

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.See omnystudio.com/listener for privacy information.

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

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.See omnystudio.com/listener for privacy information.

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

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. See omnystudio.com/listener for privacy information.

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

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

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

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

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

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Israel reached a deal for a 60-day cease-fire with the Lebanese militant group Hezbollah after weeks of talks mediated by the US, a first step toward ending a conflict that's killed thousands of people and opening the door to fresh peace initiatives in the Gaza Strip.(2) French Prime Minister Michel Barnier said the country faces "storm" in financial markets if an "unlikely but possible" alliance of lawmakers across the political spectrum rejects his government's budget proposals and votes it out of power.(3) Taxes on Britain's biggest businesses jumped sharply even before Chancellor of the Exchequer Rachel Reeves increased their burden in last month's budget.(4) President-elect Donald Trump named Kevin Hassett to direct the National Economic Council and Jamieson Greer as the US Trade Representative, filling two key posts on his economic team.(5) Bernard Arnault, CEO of LVMH, is set to testify in a criminal courtroom about an extortion attempt involving a former bodyguard and a paparazzo who demanded €300,000 in exchange for photos of him with a woman who wasn't his wife.See omnystudio.com/listener for privacy information.

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.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-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 AdebayoSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.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.What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a 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. See omnystudio.com/listener for privacy information.

(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 regionWhat would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. 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. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes. 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. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes.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. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes.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.See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a 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. See omnystudio.com/listener for privacy information.

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

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

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes.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. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.Your morning briefing, the business news you need in just 15 minutes. 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. See omnystudio.com/listener for privacy information.

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

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

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.See omnystudio.com/listener for privacy information.