Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Keir Starmer's Labour Party won the UK general election and is on course for a huge parliamentary majority with votes still being counted, a result that upends British politics after Rishi Sunak's Conservatives imploded.(2) Labour passed the magic number of 326 seats for a House of Commons majority just before 5 a.m. on Friday, confirming a change of government that was predicted for months but is still a remarkable turnaround for Starmer's party in a single electoral cycle.(3) Some big Tory names have already lost their seats including Defence Secretary Grant Shapps. The exit poll puts them on course to win 131 seats, as Nigel Farage's populist Reform UK Party took chunks out of the Tory support.(4) UK equity-index futures climbed and the pound held recent gains after the Labour Party won a majority of seats in Parliament, giving it a clear mandate to deliver on its pledge for greater economic stability.(5) Before the vote, Labour placed economic stability at the top of its manifesto and pledged to stick to tough spending rules. Rachel Reeves, an ex-Bank of England staffer who's set to become the UK's finance minister, said that the administration would not raise three of the UK's key taxes on wages and goods. 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 drumbeat of pressure on Joe Biden to drop out of the US presidential race intensified Wednesday with a bombshell report in the New York Times that he had conceded the possibility to a key ally, as well as movement within his own party to demand his withdrawal.(2) Vice President Kamala Harris has long been written off by many fellow Democrats, with her struggles as the second-in-command seeming to dim her prospects of one day becoming president. But as pressure mounts on President Joe Biden to step aside, party members are suddenly seeing her in a new light.(3) Ukrainian President Volodymyr Zelenskiy said Donald Trump should come forward with his plan to quickly end the war with Russia, warning that any proposal must avoid violating the nation’s sovereignty.(4) Just over six weeks since a UK general election was called, voters will have their say on the next government with polling stations open from 7am to 10pm.(5) Federal Reserve officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Boris Johnson made an unexpected campaign appearance on Tuesday night to urge Conservative voters to deny Labour a landslide victory at the UK general election, a last throw of the dice by Rishi Sunak's Tories to try to prevent huge losses that are expected at Thursday's vote. (2) The last time the Labour party took over from the Conservatives, it shocked markets by surrendering control of UK interest rates to a newly-independent Bank of England in its first days on the job. (3) Marine Le Pen's National Rally is trying to outmaneuver rivals that are pulling out well-worn tricks to keep the far-right out of power in the final round of legislative elections on Sunday. (4) President Joe Biden blamed travel plans that took him to France and Italy in the weeks ahead of his disastrous debate against Donald Trump for his poor performance on stage, seeking to explain a moment that has upended the 2024 race and imperiled his re-election prospects. (5) For the first time in its history, the S&P 500 closed above 5,500 on Tuesday to extend a blistering 2024 rally that's left analysts scrambling to update their 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) The European Central Bank doesn’t yet have sufficient evidence that inflation threats have passed, President Christine Lagarde said — feeding expectations that officials will take a break from cutting interest rates this month.(2) French President Emmanuel Macron’s centrist alliance and the left-wing New Popular Front are weighing whether to pull candidates from the second round of the legislative election on Sunday to keep the ascendant far right out of power.(3) Tuition caps and rising inflation have forced schools to slash costs and recruit more lucrative international students. That strategy is now colliding with limits on immigration.(4) The Democratic National Committee is considering formally nominating Joe Biden as early as mid-July to ensure that the president is on November ballots, while helping to stamp out intra-party chatter of replacing him after last week’s poor debate performance.(5) The criminal trial over Donald Trump’s attempt to overturn the 2020 election could be delayed for a year or more after the US Supreme Court ruled Monday that presidents have some immunity for their “official” acts. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Marine Le Pen’s National Rally scored an emphatic victory in the first round of France’s legislative election and set its sights on an absolute majority as President Emmanuel Macron and her other opponents began maneuvering to keep the far right from power.(2) The euro strengthened as traders digested signs Marine Le Pen’s far-right party was poised to win the first round of France’s legislative election with a smaller margin than some polls had indicated.(3) Officials arriving at the European Central Bank’s annual retreat in Portugal this week will struggle to escape the political drama engulfing the euro zone’s second-biggest state.(4) Opinion polls in Britain are still pointing to a crushing defeat for the governing Conservatives after 14 years in power as the election campaign reaches its final days.(5) President Joe Biden’s campaign is going on the attack against a chorus of donors, consultants, officials and media voices calling on him to drop out of the 2024 race after his devastating debate performance. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Guest Host John Tucker takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of the June jobs report. In the UK – a look ahead to UK elections. In Asia – a look ahead to the July 1st anniversary of the handover of Hong Kong to China from British colonial rule. 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 stumbled through exchanges in Thursday's presidential debate, a performance that risks exacerbating concerns about his age and intensifying Democratic worries about their candidate's ability to defeat Republican Donald Trump in November's election.(2) The International Monetary Fund said Thursday that the US is running deficits that are too big and is weighed down by too much debt, and it warned of dangers from increasingly aggressive trade policies.(3) European Union leaders nominated Ursula von der Leyen for a second term as president of the bloc's executive arm, as part of an agreement on top jobs for the next five-year mandate. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Keir Starmer accused Rishi Sunak of being “out of touch” with voters as the Labour leader promised to fix Britain’s stagnant economy and ailing public services, and the prime minister used the final televised debate to attack his poll-leading rival on taxes ahead of next week’s election.(2) Finance chieftains are once again looking to invest in London as political turmoil in France and the US make the UK look more competitive on the global stage, according to the chief executive officer of a top London lobbying group.(3) Former French President Francois Hollande indicated he’d be ready to build a new coalition that could govern if elections deliver a hung parliament as a leftist bloc he’s joined struggles to paper over internal divisions.(4)European Union leaders are poised to nominate Ursula von der Leyen for a second term as president of the bloc’s executive arm as part of a top jobs deal for the next five-year mandate.(5) The era of big paychecks for Chinese financiers is fast coming to an end as some of the industry’s biggest companies impose strict new limits to comply with President Xi Jinping’s “common prosperity” campaign.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Leaders of France’s three biggest political groups clashed in their first televised debate on everything from retirement and taxes to immigration as they sought to convince voters that they can be trusted to run Europe’s second-biggest economy.(2) Keir Starmer, who polls show is on course to be Britain’s next prime minister, said his Labour Party would target economic growth of at least 2.5% if it came to power at the July 4 general election.(3) Italy will be offered the chance to fill a senior role in the next European Commission as centrist parties look to wrap up a deal on the bloc’s top jobs before a summit later this week.(4) Federal Reserve Governor Lisa Cook said it will be appropriate to reduce interest rates “at some point,” adding that she expects inflation to improve gradually this year before more rapid progress in 2025.(5) Rivian Automotive will get a much-needed cash infusion through a new partnership with Volkswagen AG as automakers large and small rethink their strategies in a slowing electric-vehicle market. 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 Corp. shares entered correction territory on Monday, as an ongoing selloff erased a historic amount of value for the AI-focused chipmaker. (2) The Federal Reserve has shown other US regulators a three-page document of possible changes to their bank-capital overhaul that would significantly lighten the load on Wall Street lenders, according to people familiar with the matter. (3) Wikileaks co-founder Julian Assange will plead guilty to leaking US national security secrets and return to his home country of Australia, under a deal with the Justice Department that ends an almost 15-year battle over his prosecution. (4) President Emmanuel Macron said the agendas of the far-right and far-left blocs in France’s upcoming legislative elections pit the country’s people against each other, going so far as to say that “extreme” parties could spark a “civil war.” (5) Britain’s housing crisis has become so acute that the next government will need to build the equivalent of another city the size of London to make up for five decades of below-target construction, analysis of official data shows. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Rishi Sunak's chances of avoiding a landslide defeat in the UK general election dwindled further as his governing Conservative Party struggled to contain revelations that several of the prime minister's close aides placed bets on the date of the vote. (2) Emmanuel Macron again sought to explain his decision to dissolve parliament, saying he aimed to take into account the defeat his party suffered in European elections and to avoid an even greater risk of turmoil to come. (3) China and the European Union agreed to start talks on the bloc's plans to impose tariffs on electric vehicles imported from the Asian nation. (4) US prosecutors have recommended to senior Justice Department officials that Boeing Co. face criminal charges for violating a settlement related to two fatal crashes, Reuters reported, citing two people familiar with the matter it didn't identify. (5) The so-called Ozempic Revolution has wiped billions off the market value of food and drink companies. But new weight-loss drugs are giving a boost to at least one line of products that have sometimes previously faced sluggish demand: yogurt. 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 ahead to U.S GDP, PCE data. In the UK – a look ahead to Iran’s Presidential election. In Asia – a discussion on the first 2024 U.S Presidential debate and how the U.S-China relationship will gain attention. 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 spent much of his tenure persuading bankers and fund managers to flock to Paris after Brexit. His decision to call snap elections may give some in the industry pause. (2) German Chancellor Olaf Scholz and the leaders of the country’s 16 federal states discussed plans to outsource asylum procedures to a third country, inspired by similar initiatives in the UK and Italy. (3) As the cheap-money era fades into history, the world’s biggest real-estate investor Blackstone is moving into riskier new terrain in the hunt for stellar returns. (4) The Bank of England breathed fresh life into hopes for an imminent cut in interest rates, hinting that more of its officials may be close to backing a pivot away from the highest borrowing costs in 16 years. UK consumer confidence improved for a third consecutive month to the strongest level in 2 and 1/2 years, reflecting a rosier economic outlook ahead of the general election. (5) Keir Starmer is preparing a blitz of planning reforms if his Labour Party wins the UK election next month, aimed at immediately boosting housebuilding in Britain as he seeks to deliver 1.5 million homes over five years. (6) A pair of large bets in the fed funds futures market are attracting attention on Wall Street by setting aside the market-implied consensus for the Federal Reserve’s first interest-rate cut. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) This may be one meeting where the Bank of England is thankful the decision has been made for them. Prime Minister Rishi Sunak’s move three weeks ago to call an election has all but ruled out a rate cut when policymakers announce their decision at 12 p.m London time. (2) Rishi Sunak’s Conservative Party is heading for an electoral wipeout in the UK general election on July 4, according to three major polls on Wednesday, including one that projected even the premier will lose his seat. (3) Amid a brutal hiring war, Steve Cohen’s Point72, Ken Griffin’s Citadel and other giant hedge funds are going in a radical new direction: Training schemes for in-house superstars. (4) The head of France’s Medef business lobby criticized the campaign programs of both the far right and an alliance of leftist parties, saying they are a danger to the economy. (5) Citigroup said artificial intelligence is likely to displace more jobs across the banking industry than in any other sector as the technology is poised to upend consumer finance and makes workers more productive. (6) As in past disputes, China looks to be readying a series of actions to punish the European Union for its proposed tariffs on electric cars. 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’s relentless rally has propelled the semiconductor giant’s market capitalization over its mega-cap tech peers, helping it clinch the title of the world’s most-valuable company as the artificial intelligence wave continues. (2) Rishi Sunak’s Conservatives are on track to lose more than two thirds of the seats they won at the last general election when Britons cast their votes next month, according to the latest seat-by-seat analysis pointing to an electoral wipe-out for the prime minister’s party. (3) Some UK private schools say they’ll have to cut bursary programs that help low-income families should the party follow through on charging schools a value-added tax. (4) France and Italy will be among seven countries that will face a European Union infringement procedure for their excessive deficits last year, according to a person familiar with the matter. (5) National Rally leader Jordan Bardella said he will not become prime minister if his party doesn’t get a resounding victory in France’s snap election, setting a high bar for the far right to take the reins of policymaking. (6) Russian President Vladimir Putin arrived for his first visit to North Korea in 24 years as the US warned the meeting could further arms transfers from Kim Jong Un’s regime that aid the Kremlin in its assault on 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) France’s political turmoil is causing concern in some European Union capitals that initiatives like joint military spending and a fresh push to support Ukraine could fall by the wayside. (2) European Central Bank President Christine Lagarde said officials are being “attentive” to financial market-developments, shortly after her colleague Philip Lane said he’s not worried about French turbulence. (3) Nickel is pouring into the electric vehicle supply chain from an Indonesian industrial park with a history of fatal accidents. (4) Russian President Vladimir Putin will visit North Korea and Vietnam in rare trips to long-time partners as he faces renewed challenges in his war on Ukraine. (5) Banks and asset managers including HSBC Holdings and BlackRock are helping finalize proposals for UK housing and energy policy that could form key planks of the Labour Party’s growth agenda if it wins next month’s general election.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Far-right leader Marine Le Pen said she won't try to push out President Emmanuel Macron if she wins France's snap parliamentary election in an appeal to moderates and investors. (2) French and Swiss finance firms are more likely to have former politicians as board members than their European peers, underscoring the close links between policy making and the world of money in the two nations, an Ernst & Young study showed. (3) The specter of the UK's epic market meltdown two years ago is looming large over politicians as Britain prepares to go to the polls on July 4. (4) Less than three weeks before the UK's general election, Prime Minister Rishi Sunak was beset by disastrous polls over the weekend that suggest he has little chance of turning his Conservative Party's fortunes around before the vote on July 4th. (5) In the face of calls around the world to diversify out of the dollar in recent years, the US has nabbed almost one-third of all the investment that flowed across borders since Covid struck. 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 ahead to U.S Retail Sales, and Housing data. In the UK – a preview of next week’s Bank of England meeting. In Asia – a look ahead to a slew of Chinese eco activity data. 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 Bank of Japan is making investors wait until its July meeting for details on its paring of bond buying, sparking renewed weakness in the yen and a pushing back of bets on an interest rate hike next month. (2) French bonds tumbled, driving yields over safer German peers to the highest level in seven years, amid concerns Marine Le Pen’s far-right National Rally party will usher in looser fiscal policies if it wins upcoming elections. (3) Reform UK leader Nigel Farage declared his party “the opposition to Labour” after an opinion poll showed it had overtaken the Conservatives for the first time, the latest evidence suggesting Prime Minister Rishi Sunak is heading for a heavy election defeat. (4) Labour Leader Keir Starmer set out his party’s plan for government in a cautious pitch focused on growth and security that prioritized preserving a commanding lead in UK polls, while skirting the tough economic choices he’ll have to make if he wins power. (5) The UK’s Labour Party confirmed plans to raise taxes on private equity fund managers. In its election manifesto, published Thursday, Labour pledged to change the taxation rules, which the party said would raise £565 million ($722 million) annually if it wins the general election on July 4. 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 have dialed back their expectations for interest-rate cuts this year, though Chair Jerome Powell kept the door open for more as he emphasized the new forecasts represented a conservative approach. (2) G7 leaders are set to reach a political agreement to provide Ukraine with $50 billion of aid using the profits generated by frozen Russian sovereign assets, according to an Elysee official. (3) Labour is expected to reiterate its promise to target carried interest in its election policy pledges when the party announces its election manifesto today. (4) French President Emmanuel Macron said he won't resign if his party suffers a poor result in a snap parliamentary election as he appealed to voters not to succumb to the "fever of the extremists." (5) Fired SpaceX engineers have filed a lawsuit against Elon Musk for sexual harassment and retaliation in California state court, escalating their multifront legal battle with the billionaire chief executive and his aerospace company. SpaceX and Elon Musk did not immediately respond to requests for comment on the lawsuit. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Finance Minister Bruno Le Maire warned that France would be plunged into a debt crisis similar to one sparked in the UK two years ago if far-right leader Marine Le Pen were to win legislative elections slated for the end of the month and implement her economic program. (2) Conservatives on the left and right of the UK's ruling party lashed out against Prime Minister Rishi Sunak's manifesto, saying there's little prospect the electoral offer will shift opinion polls showing Keir Starmer's Labour is set for power in next month's election.(3) Federal Reserve officials may not be ready to finalize closely watched projections for interest rates until the publication of a key report on consumer prices on the final day of their two-day policy meeting.(4) The Biden administration is considering further restrictions on China's access to chip technology used for artificial intelligence, targeting new hardware that's only now making its way into the market, people familiar with the matter said.(5) While the Italian prime minister's star keeps rising internationally, problems lurk back home with allies she can't quite trust and an economy operating on borrowed 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) Rishi Sunak faced last-minute calls by cabinet ministers to add new tax cuts and a tougher migration policy to the Conservative manifesto after early drafts provoked disquiet over the lack of big-ticket pledges that might prevent a heavy defeat in the UK general election.(2) Far-right leader Marine Le Pen’s National Rally is seen garnering 34% of voter intentions in the first round of upcoming French legislative elections, compared with 19% for President Emmanuel Macron’s ruling party, according to a poll.(3) Bill Gross is finding opportunities in Europe after surprising election results in the region rattled markets and sent French bond yields to their highest mark this year.(4) The European Central Bank must stay cautious, and last week’s cut in borrowing costs won’t necessarily be followed by further rapid moves, according to President Christine Lagarde.(5) Apple took the wraps off long-awaited new artificial intelligence features, including a partnership with ChatGPT maker OpenAI, betting that a personalized and understated approach to the technology will win over customers. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) After a crushing defeat in the European Parliament election on Sunday, French President Emmanuel Macron called a snap legislative ballot in a desperate bid to stop the rise of his far-right rival, Marine Le Pen. (2) Prime Minister Giorgia Meloni is set to solidify her power after winning the vote in Italy for the European Parliament as far-right parties gained across the union. (3) Benny Gantz resigned from Israel's emergency government and called for elections, criticizing Prime Minister Benjamin Netanyahu over his handling of the war against Hamas. (4) Britain's Labour opposition has scrapped plans to reintroduce a tax-free limit on pension saving as the five main political parties prepare to publish their manifestos this week amid questions about how they'll pay for their campaign pledges. (5) Apple's developers conference on Monday will show whether the iPhone maker can become a major player in the burgeoning field of artificial intelligence, marking a critical moment for a company forced to adapt to a new era. 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 U.S CPI data and Fed decision, and a look at Apple’s Worldwide Developers Conference. In the UK – a preview of London tech week. In Asia – a look ahead to India CPI data and a monetary policy decision from the Bank of Japan. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) After a series of recent setbacks, Europe’s far-right parties are aiming for gains in elections to the European Parliament that kicked off on Thursday. (2) The European Central Bank delivered on its promise to cut interest rates but left investors querying where policy is headed next by also saying it will take longer for inflation to reach 2%.(3) In a staggering loss for US prosecutors, a jury found UK tech tycoon Mike Lynch not guilty of criminal charges that he pulled off Silicon Valley’s biggest-ever fraud 13 years ago by duping Hewlett Packard Co. into buying his software startup for $11 billion.(4) Britain’s next government will immediately face a funding crunch in town halls after councils warned of a £6.2 billion ($7.9 billion) hole in their budget plans over the next two years.(5) Keir Starmer’s Labour Party plans to provide mortgage guarantees to first-time buyers in a bid to help young Britons get onto the housing ladder if it wins next month’s general election.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 European Central Bank is poised to start lowering interest rates from record highs, confident that inflation is sufficiently contained to ease the burden on the economy.(2) Nvidia was already the world’s most valuable semiconductor firm. Now, it’s become the first computer-chip company ever to hit $3 trillion in market capitalization.(3) A flood of cash from passive equity allocations will pour into the stock market in early July, setting up a continuing rally through the early summer, according to Goldman Sachs Group Inc.’s trading desk.(4) LondonMetric Property will join the FTSE 100 Index in a reshuffle that pushes Ocado Group out of Britain’s blue-chip gauge for the first time in six years.(5) The return of Brexit architect Nigel Farage as leader of Reform UK and a candidate in next month’s general election has seen the right-wing party close to within just two points of Prime Minister Rishi Sunak’s governing Conservatives, threatening a dire election result for the premier, a new poll by YouGov showed. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Rishi Sunak reached for a tried-and-tested Conservative weapon in his first UK election campaign debate with Keir Starmer, repeatedly warning that the Labour leader would raise taxes. But their heated prime-time TV clash showed up the prime minister’s own weaknesses as much as his opponent’s.(2) Indian Prime Minister Narendra Modi is gearing up for coalition talks after his party lost its majority in parliament, forcing him to rely on allies to form a government for the first time since he stormed to power a decade ago.(3) US job openings fell in April to the lowest level in over three years, consistent with a gradual slowdown in the labor market.(4) Intel agreed to sell a stake in a venture that controls a plant in Ireland to Apollo Global Management Inc. for $11 billion, helping bring in more external funding for a massive expansion of its factory network.(5) UK banknotes featuring the portrait of King Charles III will enter circulation Wednesday, though they’re likely to be rare for some time in everyday cash transactions. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) India will announce election results later today, with investors already cheering a third term victory for Prime Minister Narendra Modi based on exit polls, pushing stocks to a record.(2) Rishi Sunak is considering hardening his Conservative Party’s position on the European Convention on Human Rights, as disastrous polling and Brexit architect Nigel Farage’s decision to stand for Reform UK in the general election leave the premier’s ruling party facing a potential wipe out.(3) Marks & Spencer’s chief executive officer pay rose by about £2 million ($2.6 million) last year as the UK retailer’s turnaround progressed.(4) A glitch during a software update early Monday led the New York Stock Exchange to erroneously halt trading on about 40 stocks and display odd trades showing a 99% drop in companies including Warren Buffett’s Berkshire Hathaway.(5) GameStop shares have surged after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the video-game retailer on Sunday.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) South Africa's African National Congress has begun talks with rivals to form a government following its worst performance since Nelson Mandela led it to power at the end of apartheid in 1994. (2) Keir Starmer will today pitch Labour as the "party of national security" in a bid to squeeze Rishi Sunak's Conservatives on traditional Tory turf as the rivals prepare to face off in a UK election debate on Tuesday.(3) Claudia Sheinbaum is set to become Mexico's first female leader in a landslide victory, capitalising on outgoing President Andres Manuel Lopez Obrador's popularity while also inheriting rampant criminal violence and a large fiscal deficit left by his government.(4) Oil swung between gains and losses after OPEC+ set out a plan to restore some production as early as October, despite concerns over the demand outlook and robust supply from outside of the group.(5) Emmanuel Macron wants to strengthen France's global influence. Unrest on an island territory thousands of miles from Paris is a huge test for that ambition 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 May jobs report in the U.S, and a look ahead to Gamestop earnings. In the UK – a look ahead to the next ECB decision and European Parliament elections. In Asia – a preview of China trade data, TSMC's sales and revenue, and the Computex tech show. 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 was found guilty in the first criminal trial of a former US president in the nation’s history, a verdict that could reshape the political landscape five months before Election Day.(2) President Joe Biden will allow Ukraine to launch US-provided munitions against military targets inside a limited area of Russia, overcoming concern that any such move could provoke a wider war with the West.(3) US officials have slowed the issuing of licenses to chipmakers such as Nvidia Corp. and Advanced Micro Devices Inc. for large-scale AI accelerator shipments to the Middle East, according to people familiar with the matter, while officials conduct a national security review of AI development in the region.(4) Czech billionaire Daniel Kretinsky, who plans to purchase the company that owns UK’s Royal Mail, says the British postal service needs new investment to be competitive. (5) Just hours after South African President Cyril Ramaphosa confidently predicted that the ruling party would easily retain its three-decade stranglehold on politics, it was increasingly clear that voters had other ideas — sending the country into uncharted terrain. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) BHP has decided against making a firm offer for Anglo American, instead walking away for now from what would have been the biggest mining deal in over a decade. (2) Jamie Dimon said he expects problems to emerge in private credit and warned that "there could be hell to pay," particularly as retail clients gain access to the booming asset class. (3) The European Central Bank is set to take the unprecedented step of imposing fines on several lenders for their protracted failure to address the impact of climate change. (4) Saudi Arabia is preparing to formally launch a secondary offering of shares in oil giant Aramco as soon as Sunday, a deal that could raise more than $10 billion and rank among the largest of its kind in recent years. (5) Wall Street firms are buying up family-owned businesses from electricians to pest control. The UK's richest plumber has regrets about selling out.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 must be allowed to target missile crews inside Russia with European-supplied weapons, according to French President Emmanuel Macron.(2) Germany and France have agreed to make rapid progress to deepen the European Union’s capital markets to boost investment in the bloc after years of discussions, French President Emmanuel Macron said.(3) Keir Starmer’s poll-leading opposition Labour Party is seeking to reassure the City of London it is not considering further taxes on Britain’s banks if it wins power at the UK general election on July 4.(4) The White House said an Israeli strike on an encampment in Rafah that left dozens dead was devastating but would not cause President Joe Biden to freeze additional arms shipments to the country.(5) With just hours left on the clock, advisers for BHP Group and Anglo American Plc were still struggling to find a breakthrough to salvage BHP’s ambitious $49 billion takeover plan. 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 killing of an Egyptian soldier in a clash with Israeli troops at a Gaza border crossing on Monday further inflamed regional tensions after an Israeli airstrike killed an estimated 45 Palestinians at a camp for displaced people.(2) The Labour party has won the endorsement of 120 business executives who have said that a “new outlook” is needed so the UK can “break free” from a decade of economic stagnation in a letter to The Times.(3) Prime Minister Rishi Sunak will promise pensioners a tax cut if his Conservatives upset the odds and win the general election, the latest gambit to try to shore up the core vote as internal polling showed the Tories could lose more than 100 seats due to the resurgence of the right-wing Reform UK party.(4) Price increases at UK retailers fell in early May to their lowest level in more than two years, adding to signs of an improving economic outlook.(5) The US stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules.See omnystudio.com/listener for privacy information.

In this Holiday Edition of Bloomberg Daybreak: We take a look at markets and inflation's impact on equities with Alicia Levine of BNY Mellon and Invesco's Brian Levitt We check in on the strength of the global economy with Bloomberg's Michael McKee and Anna Wong. Plus, we get some travel tips for the summer with The Points Guy, Brian Kelly. Hosted by Nathan HagerSee 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 core PCE inflation and GDP data, and a look ahead to Dell and HP earnings. In the UK - a look ahead to the 77th World Health Assembly in Geneva. In Asia – a preview of a two-day summit between Japan, South Korea and China in Seoul. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) In the City of London, executives are looking forward to the imminent general election as a chance for clarity after a turbulent few years.(2) A two-speed global economy skewed by US strength is overshadowing this week’s Group of Seven meeting as officials confront the prospect of less synchronized monetary policies.(3) Segantii is shutting down and returning capital to investors after an insider trading charge in Hong Kong sparked concerns about a flood of redemptions, according to people familiar with the matter.(4) Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter.(5) Alphabet and Meta Platforms have held discussions with major Hollywood studios about licensing content for use in the tech giants’ artificial intelligence video generation software, according to people familiar with the matter.(6) Citigroup, HSBC Holdings and Barclays are ordering more staffers to report to company offices five days a week as regulatory changes make it trickier for Wall Street to allow working from home. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Standing in the rain and being drowned out by protesters playing the Labour Party’s 1997 victory anthem “Things Can Only Get Better” will not have been Rishi Sunak’s preferred backdrop for his announcement naming the date of the next UK election.(2) UK Prime Minister Rishi Sunak’s decision to stake the Conservative Party’s future on a rare summer election was so secret that even his chancellor of the exchequer, Jeremy Hunt, appeared surprised by the plan.(3) Nvidia the chipmaker at the center of an artificial intelligence boom, gained in late trading after a bullish sales forecast showed that AI computing spending remains strong.(4) Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target.(5) BHP Group just won an extra week to convince Anglo American Plc on its $49 billion takeover plan. But the world’s biggest miner still must resolve the deal’s most intractable obstacle: What to do about South Africa? 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 inflation cooled less than expected last month due in part to lingering price pressures at restaurants and pubs, threatening to delay interest rate cuts from the Bank of England. (2) European Central Bank President Christine Lagarde indicated that an interest-rate cut is probable next month with the rapid gain in consumer-price growth now largely contained.(3) Two Federal Reserve officials reinforced a higher-for-longer message on interest rates, emphasizing a need for patience as the central bank waits for more evidence inflation is moving lower.(4) Barclays is among Wall Street firms weighing whether to require scores of workers to commute to company offices five days a week, as US brokerage regulators enact new rules for supervising work at home.(5) Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries. BYD which overtook Tesla. 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 chief prosecutor for the International Criminal Court said Monday he is seeking arrest warrants for Israeli Prime Minister Benjamin Netanyahu and Hamas leader Yahya Sinwar on war crimes charges.(2) Raisi’s death in Iran opens questions over Khamenei succession. In Saudi Arabia, the Crown Prince has canceled trips over King Salman’s ill health. This is another complicating factor in Washington's push for a US dense agreement with Riyadh(3) The chief executive officer of JPMorgan, Jamie Dimon, told shareholders the timetable is “not five years anymore,” in response to a question about how long he planned to remain CEO. The largest US bank is “well on the way” with its succession plans, he said during the firm’s investor day.(4) Martin Gruenberg will step down as head of the Federal Deposit Insurance Corp. after findings of a toxic work environment put the regulator at the center of a heated political fight and fueled calls for his removal. (5) Cleveland Fed President Loretta Mester said policy is restrictive, but policymakers need to wait for more evidence about the path of inflation before adjusting interest rates. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Iranian President Ebrahim Raisi has been killed in a helicopter crash in a mountainous area of the country. Rescuers on Monday found the helicopter that had been carrying the president and other officials including Foreign Minister Hossein Amirabdollahian, who also died, the semi-official Mehr news agency reported. (2) The death of Iranian President Ebrahim Raisi in a helicopter crash raises the immediate question of who will succeed him in running the government. (3) Israel's Prime Minister Benjamin Netanyahu is facing increasing pressure from the other two members of the country's war cabinet. Opposition leader Benny Gantz says he'll resign from the cabinet if Netanyahu doesn't adopt a new post-war strategy in Gaza. (4) London still leads European cities in attracting foreign direct investment in financial services, with the UK's share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed. (5) Buyout firms splurged on low-margin British consumer companies, seduced by bargain prices and cheap money. Higher interest rates are upending that wager. See omnystudio.com/listener for privacy information.

In the US – a preview of home sales data and Nvidia earnings. In the UK – a look at the upcoming meeting of G7 finance ministers and central bankers in Italy. In Asia – a preview of the inauguration of Taiwan’s president. 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 retail sales grew at the slowest pace since 2022 while industrial production accelerated, highlighting the unbalanced recovery of the world’s No. 2 economy.(2) China removed the floor on mortgage rates and lowered the minimum down payment ratios for individual homebuyers in its most drastic move to shore up the beleaguered property market. (3) Jamie Dimon tells Bloomberg that when it comes to China, the right thing for America is to “fully and deeply” engage.(4) Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.(5) Governments and companies want the clean fuel to play a big role in fueling the continent. If they’re wrong, the planet will be worse off than before.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Slovak Prime Minister Robert Fico suffered life-threatening injuries after being shot in public, the first assassination attempt on a European leader in more than two decades that underscores the deep polarization in the country.(2) Chinese President Xi Jinping signaled to Vladimir Putin that ties between the two nations remain strong, as the Russian leader embarks on a new term with the war in Ukraine dragging into its third year.(3) The US Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday. Wall Street traders sent stocks to all-time highs as bond yields slumped after an inflation slowdown reinforced bets the Federal Reserve will cut interest rates as early as September.(4) Ben Bernanke said there is growing interest within the Bank of England over publishing its own interest-rate projections, one of the strongest signals yet that the central bank is mulling a major communications shake-up. (5) HSBC is leaning towards appointing its next chief executive officer from a shortlist of internal candidates as it begins its hunt for a successor to outgoing boss Noel Quinn.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 is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. (2) China blasted the Biden administration's move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics. (3) Federal Reserve Chair Jerome Powell said the US central bank must be patient and wait for evidence that inflation continues to cool, doubling down on the need to keep borrowing costs elevated for longer. (4) Britain's failure to complete its sustainable finance framework is putting billions of pounds worth of funding at risk, according to a UK investor association representing £19 trillion ($24 trillion) of assets. (5) The UK government has pushed back against a number of recommendations designed to combat sexism and misogyny in the finance industry. 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 says he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc's future prosperity. (2) Goldman Sachs Chair and CEO David Solomon discusses France becoming more business friendly and the outlook for Europe. (3) Bank of America Chairman and CEO Brian Moynihan says US consumers, helped by wage growth, remain in good shape even amid elevated interest rates. (4) The UK and Saudi Arabia will host a joint summit in Riyadh today, aimed at boosting economic ties between the two countries as negotiations continue over a broader trade deal between Britain and the Gulf states. (5) Anglo American has rejected a second approach from BHP that valued the miner at $43 billion, as pressure builds on the 107-year old company to lay out a compelling vision to survive on its own. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Vladimir Putin replaced his long-serving defense minister with a trained economist in an unexpected change of guard that signals the focus on growing the Russian war economy more than two years after the invasion of Ukraine.(2) Ukraine's leader Volodymyr Zelenskiy called on his people not to panic amid Russia's ongoing advance in the Kharkiv region that's jeopardizing a local city.(3) Rishi Sunak will pitch himself as the best candidate to achieve a "more secure future" for Britain in a political speech designed to re-capture the narrative ahead of the UK general election, just over a week after his party suffered heavy losses in local votes.(4) President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week, unveiling the measures at a White House event framed as a defense of American workers, people familiar with the matter said.(5) the Norwegian oil and gas giant Equinor has quietly picked up the crown that once belonged to Russia's Gazprom . Norway now supplies 30% of the bloc's gas; Gazprom provided about 35% of all Europe's gas before the war. 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 inflation data and earnings from Home Depot and Walmart. In the UK – a preview of the Choose France Summit. In Asia – a look at next week’s tech earnings 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) Britain bounced back strongly from a shallow recession, providing some relief for Prime Minister Rishi Sunak who has so far struggled to deliver on his promise to grow the economy.(2) President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.(3) Israeli Prime Minister Benjamin Netanyahu struck a defiant tone against President Joe Biden after the US withheld a shipment of bombs as a warning to its top Middle East ally not to invade the southern Gaza city of Rafah.(4) After months in which the Bank of England and markets have been at loggerheads over the direction of interest rates — with the US Federal Reserve more powerful in shaping expectations than words from the UK central bank — they have now fallen roughly into line.(5) Arm Holdings shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence spending spree is slowing.(6) In a small side room, roughly 40 people, including some of Wall Street’s most senior executives of color, crowded around a rectangular array of tables for an invitation-only panel and confronted hedge fund manager Bill Ackman for his attacks on diversity, equity and inclusion, or DEI, initiatives, according to five attendees. 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’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.(2) Israeli Prime Minister Benjamin Netanyahu struck a defiant tone against President Joe Biden after the US withheld a shipment of bombs as a warning to its top Middle East ally not to invade the southern Gaza city of Rafah.(3) After months in which the Bank of England and markets have been at loggerheads over the direction of interest rates — with the US Federal Reserve more powerful in shaping expectations than words from the UK central bank — they have now fallen roughly into line.(4) Arm Holdings Plc shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence spending spree is slowing.(5) In a small side room, roughly 40 people, including some of Wall Street’s most senior executives of color, crowded around a rectangular array of tables for an invitation-only panel and confronted hedge fund manager Bill Ackman for his attacks on diversity, equity and inclusion, or DEI, initiatives, according to five attendees. See omnystudio.com/listener for privacy information.