Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Russian authorities showed footage of four men charged in court with carrying out the deadly Moscow concert hall attack after interrogations that traced their origins to Tajikistan. (2) French authorities have raised their security alert level to the maximum following the deadly Friday attack in a Moscow concert hall.(3) Bond traders are cautiously reloading wagers that burned them just weeks ago as the Federal Reserve and key global peers finally appear set to begin reducing interest rates as soon as June. (4) Britain's ruling Conservative party will promise to keep the generous "triple lock" on state pensions in the upcoming election despite the spiraling cost of the commitment, Chancellor of the Exchequer Jeremy Hunt said. (5) As Donald Trump sits in a Manhattan courtroom Monday for a hearing related to one of his criminal cases, he'll also be facing a moment of truth for his finances: a deadline that same day to either post a bond to cover a $454 million civil fraud verdict or risk having New York state start the process of seizing some of his assets.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 PCE and GDP data, and a look ahead to Carnival earnings. In the UK - a look at challenges for Europe’s chocolate industry ahead of Easter. In Asia - a preview of BYD and China bank earnings. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Regulators on both sides of the Atlantic are training their eyes on Apple Inc., unnerving investors with fears over fines and threatening its market dominance. Shares of the company slid 4.1% Thursday, erasing about $113 billion in market value and taking their year-to-date loss back to 11%. (2) The Bank of England has laid the groundwork for a shift to rate cuts after one of the sharpest turnarounds in guidance in recent memory, with data releases, investor bets and the UK's political calendar pointing to June for the first move. (3) Chinese authorities are examining the role of PWC in Evergrande's accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector's meltdown. (4) Carles Puigdemont, the Catalan separatist who led a failed attempt to break away from Spain, is bidding to make a return as regional president. (5) A top Israeli official said his country's military is ultimately going to invade the southern Gaza city of Rafah and defeat Hamas "even if the entire world turns on Israel, including the United States." 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 maintained their outlook for three interest-rate cuts this year and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation.(2) The Bank of England is likely to keep interest rates at a 16-year high, giving more time for inflationary pressures to cool before it loosens up on the quickest tightening cycle in decades.(3) Anxious employees at Fidelity International, a globe-spanning business based in Bermuda and run out of London, began eying the door. (4) The sudden exit of Prime Minister Leo Varadkar leaves Ireland at a crossroads. Unaffordable housing, inequality and political pressures linked to immigration give the nationalist Sinn Fein party an opportunity to take power for the first time in 2025, or sooner.(5) Reddit and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, the second big tech listing in as many days.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Wall Street traders gearing up for the Federal Reserve decision sent stocks to fresh all-time highs amid gains in several big techs. (2) The likelihood that central banks are about to embark upon the most synchronized reduction of interest rates since 2008 looks set to support the dollar in its nascent rebound. (3) Mohsin and Zuber Issa turbocharged their retail empire in the easy-money era of the past decade through dozens of debt-funded deals to form one of the world’s largest owners of gas stations and convenience stores (4) The opposition Labour Party’s chancellor-in-waiting Rachel Reeves pledged a fundamental “course correction” for the UK economy, saying the country needed to invest in growth and solve underlying structural problems to break the grip of stagnation. (5) JPMorgan unexpectedly lifted its dividend 9.5% in the wake of a record annual profit and as regulators signal they may rethink proposals for tightening capital rules.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 ended the most aggressive monetary stimulus program in modern history, scrapping the world's last negative interest rate while keeping financial conditions easy for now — a dovish tone that weakened the yen after the widely expected decision. (2) Nvidia CEO Jensen Huang showed off new chips aimed at extending his company's dominance of artificial intelligence computing, a position that's already made it the world's third-most-valuable business. Elsewhere Nvidia is turning into a casino for the YOLO trading crowd. Just look at the options activity on Monday, when traders bet that shares of the $2.2 trillion chipmaker will more than double its $885 price — by the weekend. (3) Chinese regulators say the developer, Evergrande, falsely inflated revenue by more than $78 billion in the two years leading to its failure. (4) Elon Musk says that his prescribed use of ketamine alleviates periods of low mood and is in the best interest of investors in Tesla Inc. and the other companies he runs.(5) Actress and singer Selena Gomez has hired advisers to weigh offers for her cosmetics company, Rare Beauty, valued at $2bn according to people familiar with the matter.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Apple is in talks to build Google's Gemini artificial intelligence engine into the iPhone, according to people familiar with the situation, setting the stage for a blockbuster agreement that would shake up the AI industry. (2) A defiant Vladimir Putin says Russia won't be stopped from pursuing its goals after he swept to a record victory in a presidential election whose outcome was pre-determined (3)Bank of Japan Governor Kazuo Ueda and his board have one more day to decide if it's time for the nation's first interest rate hike in 17 years amid simmering speculation that it will proceed. (4) Israel's military made its deepest incursion into Gaza City in about two weeks, saying its troops were undertaking a "precise operation" targeting the main hospital in the northern metropolis that bore the brunt of the first weeks of fighting in the conflict. (5) A trade, targeting the remains of Sam Bankman-Fried's once-vast cryptocurrency empire, is netting distressed investing firms a 200% profit. 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 Nike earnings. In the UK - a preview of the UK’s next rate decision. In Asia - a look ahead at the RBA’s next monetary policy decision & Tencent earnings. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) French President Emmanuel Macron warned that the European Union would face an “existential” threat of a Russian invasion unless Vladimir Putin’s forces are defeated in Ukraine. (2) The European Central Bank has succeeded in taming inflation without causing an economic downturn, according to Governing Council member Yannis Stournaras.(3) Prime Minister Rishi Sunak ruled out a UK general election on May 2, signaling that a public vote would take place later this year instead.(4) The UK government’s flagship “levelling up” pledge to revitalize disadvantaged regions has been beset by “astonishing delays” that have seen just 10% of the promised funding spent, a parliamentary committee has found.(5) A Paris neighborhood notorious for its past as a den for crack cocaine dealers is getting a new lease of life thanks to the Olympics. But as the area changes and new people move in, can the city ensure that the residents who were there in the first place don't get kicked out? See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:Ukrainian drone attacks halted three oil refineries deep within Russian territory in an assault President Vladimir Putin said was aimed at disrupting his presidential election later this week. Dutch election winner Geert Wilders has dropped his bid to become prime minister, after months of coalition talks following his shock win in November.Rishi Sunak's government plans to ban foreign states from controlling or influencing UK newspapers and news magazines, a move that appears to rule out a UAE-linked takeover of the Telegraph newspaper.Donald Trump has talked about hedge fund titan John Paulson as Treasury secretary if he wins the November presidential election, and has held a series of meetings with potential cabinet picks, according to people familiar with the matter. Britain's housing market picked up in February, with an increase in both new buyer inquires and properties for sale after prices stabilized. 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 has clinched the Republican presidential nomination, capping off a stunning political comeback fueled by grievance and vengeance and formally entering what's poised to be the longest and costliest general election in recent memory. (2) Polish President Andrzej Duda said Russian President Vladimir Putin will attack other states if the Kremlin wins its war in Ukraine as he sought to convince the US to approve further assistance for Kyiv. (3) Citadel founder Ken Griffin said the Federal Reserve should move slowly in lowering interest rates to avoid the possibility of having to reverse course later. (4) TikTok's Chief Executive Officer Shou Chew went to Capitol Hill Tuesday to lobby against a bill that would force the app's Chinese parent to sell it or face a ban in the US. (5) The UK medicines agency has seized 869 fake Ozempic pens so far — more than its counterparts in Denmark, Ireland, Switzerland, Iceland and the Netherlands combined. The pens found in Britain include crude fakes as well as ones distributed in bulk by more sophisticated criminals. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Rupert Murdoch's News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph, alongside the UAE-backed investment fund RedBird IMI, people familiar with the matter said.(2) Jamie Dimon said he wouldn't take the prospect of a recession in the US "off the table," but that the Federal Reserve should wait before it cuts interest rates.(3) The European Central Bank is leaning against any immediate change in the amount of money lenders need to park with it interest-free, removing for now the threat of a hit to bank profitability.(4) The deadlock in Ukraine is "shifting the momentum" in the war there in Moscow's favor, US intelligence agencies told senators on Monday. (5) Former Credit Suisse Chief Executive Officer Tidjane Thiam signaled his intention to run for president of Ivory Coast in October next year. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) US President Joe Biden warned Israel against an invasion of the city of Rafah in southern Gaza as cease-fire talks between Israel and Hamas remained deadlocked at the beginning of Ramadan.(2) Job vacancies in England have fallen to their lowest in more than three years, reducing the hope that the UK economy will bounce back strongly from the recession that hit last year.(3) Before the cart, or even the horse, comes something else to put first: the Brexit paperwork. That’s what transporters outside the UK are dealing with as they move racehorses into England for this week’s Cheltenham Festival, one of the richest sports events in Europe.(4) Eight months after raising interest rates to a two-decade high, Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight.(5) Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit. (6) Oppenheimer, the biographical film about the inventor of the atomic bomb, picked up a total of seven Academy Awards, including best picture and best director for Christopher Nolan. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of U.S CPI and Retail sales data, and a look ahead to earnings from Adobe and Oracle. In the UK - a look ahead to a major real estate conference on the French riveria In Asia – a preview of Hon Hai and CATL earnings.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) President Joe Biden sought to breathe new life into his reelection rematch against Donald Trump, delivering a spirited and sharply political State of the Union speech that sparred with Republicans and targeted an opponent he didn’t ever name.(2) Federal Reserve Chair Jerome Powell suggested the central bank is getting close to the confidence it needs to start lowering interest rates.(3) Over the past decade, data enforcement has exploded in prominence. It's women who run the regulators leading the charge against Big Tech. (4) European Central Bank President Christine Lagarde indicated policymakers may be in a position to lower interest rates in June as fresh projections showed inflation hitting the 2% target in 2025.(5) Banks and financial firms should be banned from using nondisclosure agreements in workplace sexual harassment disputes because they risk silencing victims while protecting perpetrators, British lawmakers have warned. 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 Jeremy Hunt has handed millions of British workers a £10 billion a year tax cut paid for by stealing Labour's flagship policies and squeezing public services as he drew political battle lines for the upcoming election. (2) Britain's budget watchdog said a hit to the economy from leaving the European Union is unfolding as it expected. The Office for Budget Responsibility says its long-running prediction is "broadly on track" to show a 15% fall in trade and a 4% reduction in the UK economy's potential productivity compared to if the UK had stayed in the EU. (3) Wall Street banks are on the cusp of a sweeping regulatory victory after Federal Reserve Chair Jerome Powell signaled officials would scale back plans to make them hold more capital. (4) A missile strike on a commercial ship in the Gulf of Aden resulted in the first confirmed deaths of crew members since Houthi militants began a wave of attacks against commercial shipping in one of the world's busiest sea lanes. (5) Deutsche Bank has cut the bonus pool at its investment banking division by more than 10% after a slump in deals and a slowdown in trading last year. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Jeremy Hunt plans to put personal tax cuts at the center of his annual budget on Wednesday as he navigates tight public finances to deliver on Conservative demands for a pre-election giveaway to boost the ailing governing party’s standing with voters.(2) President Joe Biden and Republican frontrunner Donald Trump are set for a rematch in a general election race that few Americans are excited about and that Wall Street donors tried in vain to avert.(3) A Citigroup reorganization aimed at streamlining the bank and making it more competitive with its peers has gone swifter than expected, Chief Executive Officer Jane Fraser said, as she set out positive guidance for the year ahead.(4) OpenAI fired back at a lawsuit filed against it by Elon Musk in a blog post Tuesday, using the billionaire’s own emails to show he backed the company’s plans to become a for-profit business and that he insisted it raise “billions” of dollars to be relevant compared with Google.(5) Birmingham City Council has signed off on the largest-ever package of budget cuts by a UK local authority See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) There’s a new sense of optimism in the UK as a global investment destination ahead of a general election later this year. A two-month investigation by Bloomberg Radio's Caroline Hepker has many of London's business elite increasingly upbeat about the future of the economy.(2) China set its annual growth target at around 5%, raising expectations for the nation’s top leaders to unleash more stimulus as they try to lift confidence in an economy hampered by a property slump and entrenched deflation.(3) JPMorgan Chase's chief market strategist Marko Kolanovic joins in a chorus of rapidly piling up warnings from Wall Street that are hearkening back to the dot-com boom of the late-1990s, or the post-pandemic mania of 2021, when stock prices quickly ballooned and then burst.(4) A bank group spearheaded by Morgan Stanley held discussions with Elon Musk and his team about refinancing a roughly $12.5 billion debt package that supported the tech billionaire’s take-private of the social media platform X, according to people with knowledge of the matter.(5) The US Supreme Court said Donald Trump can appear on presidential ballots this year, putting an end to efforts nationwide to ban him under a rarely used constitutional provision barring insurrectionists from holding office. 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 Chancellor of the Exchequer Jeremy Hunt said his budget will be "prudent" and "responsible," as he tried to temper expectations of Conservative MPs who want eye-catching tax cuts to give their party a pre-election boost. (2) Bond investors are positioning for a potential rise in inflation if Chancellor of the Exchequer Jeremy Hunt cedes to pressure to deliver pre-election giveaways in this week's spring budget. (3) The UK government plans to lower the threshold to qualify as a so-called angel investor in a bid to bolster funding for small- and medium-sized businesses, the Treasury said in a statement. (4) China is set to announce its 2024 growth target and outline its strategy for supporting the slowing economy at the nation's most high-profile annual political gathering this week. (5) US Vice President Kamala Harris has called for a temporary cease-fire between Israel and Hamas as talks drag on over a deal to release hostages taken during the Oct. 7 attacks. 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 - Jobs Report, Jay Powell on Capitol Hill and Target earnings In the UK - the government is preparing to present its tax and spending plans for the coming year In Asia - China's top political advisory body and legislature will be gathering for their annual two sessions See omnystudio.com/listener for privacy information.

The UK’s reputation as a global investment destination hit rock bottom last April, when Microsoft President Brad Smith said The European Union was a more attractive place to start a business.Yet 10 months later, A host of FTSE100 CEOs tell us confidence is recovering. And for all the talk of British decline, official figures suggest the UK remains the top investment destination after the US, trumping even China.Our Bloomberg Radio anchor Caroline Hepker has spent the past two months talking to Britain's business elite. Here's what they told her. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Left-wing disrupter George Galloway won a seat in the UK Parliament in a special election that underscored how the Israel-Hamas war has exacerbated community tensions and sowed division across British politics. (2) Scores of Palestinians were killed and injured on Thursday during an outbreak of violence in which Israeli troops opened fire near a convoy of food trucks attempting to deliver humanitarian aid in northern Gaza. (3) China's factory activity shrank for the fifth straight month in February, suggesting weak demand remains an obstacle for the economy. (4) The Federal Reserve's preferred gauge of underlying inflation rose in January at the fastest pace in nearly a year, helping explain policymakers' patient approach to start cutting interest rates. (5) UK retail traffic fell the most since the pandemic due to train strikes, squeezed budgets and one of the wettest Februarys on record, fueling concerns about the strength of 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) The Supreme Court’s decision to take up Donald Trump’s bid for immunity from criminal prosecution raises the prospect that a trial to hold him accountable for trying to overturn the 2020 election could face a lengthy delay — potentially until after the November election.(2) Senate Republicans have to choose just how loyal to Donald Trump they want their next leader to be in the wake of Mitch McConnell’s bombshell decision to step aside after the November election.(3) Congressional leaders reached a last-minute deal to avoid a disruptive US government shutdown, setting up another clash with ultra-conservatives who swiftly blasted the agreement.(4) Chancellor of the Exchequer Jeremy Hunt has considered scrapping Britain’s non-domiciled tax status as he seeks ways to fund pre-election giveaways in his budget next week.(5) Three Federal Reserve officials said the pace of interest-rate cuts will depend on incoming economic data, suggesting the path to lower borrowing costs may look different than in previous rate-cutting cycles. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Wall Street's biggest banks have seen staffing levels surge in Paris despite the fact that many of those firm's top bosses feel constrained by the country's strict labor laws. (2) Apple is cancelling a decade long effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company. (3) Central bankers around the world have traditionally been scrupulous about insisting on their independence from politics. But the rise of anti-democratic groups and populists around the world has spurred European policymakers to step into the fray. (4) The Bank of England may sell all the UK government bonds bought under quantitative easing to better prepare for a future crisis, a move that would put it at odds with the US Federal Reserve. (5) Deutsche Bank's decision to force workers into the office more frequently has met with fierce internal criticism, demonstrating the challenges in reversing a policy introduced during the Covid pandemic. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Sweden has cleared the final obstacle to gaining NATO membership in a move that will solidify the alliance's grip over Northern Europe and the Baltic region. (2) China's state-backed funds have poured more than 410 billion yuan ($57 billion) into onshore shares this year in a bid to prop up the market, according to estimates by UBS which expects further purchases. (3) Fast-fashion company Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter. (4) Inflation in UK stores slowed to the lowest level since March 2022, signaling further respite for households as retailers doubled down on promotions and passed on lower costs. (5) A new law tracing the origin of cocoa beans threatens to jolt the price of chocolate and skin-care products. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. (2) Warren Buffett's Berkshire Hathaway says its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at "eye-popping performance." (3) Ukrainian President Volodymyr Zelenskiy said his country has lost 31,000 soldiers since Russia's full-scale invasion started two years ago as he stressed that a decision from the US Congress on $60 billion in aid was needed within a month. (4) A former deputy chairman in Rishi Sunak's ruling Conservative party has been suspended after growing pressure from within the party over his claim that London Mayor Sadiq Khan is controlled by "Islamists." (5) Global trade ministers are gathering in Abu Dhabi for the World Trade Organization's summit, amid a tide of trade protection and questions over the WTO's relevance. 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 - Lowes earnings and fresh economic data In the UK - Its the Mobile World Congress in Barcelona In Asia - Baidu earnings are on tap 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 surge to an all-time high is the biggest single-session increase in market value in history, besting Meta’s historic gain just three weeks ago.(2) Former Treasury Secretary Larry Summers is warning that financial markets are underestimating the risks of political and social turmoil around the world.(3) Three top Federal Reserve officials hammered home the message Thursday that the US central bank is still on track to cut interest rates this year — just not anytime soon.(4) Russia is steadily expanding its influence across Africa with arms sales, Kremlin-sponsored beauty pageants and more recently -- free grain.(5) House of Commons Speaker Lindsay Hoyle faced growing calls from Conservative and Scottish National Party politicians to resign over the chaotic scenes in Parliament(6) For the first time since 1972, the US is back on the moon. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: Nvidia surged in late trading after delivering another eye-popping sales forecast, adding fresh momentum to a stock rally that already made it the world's most valuable chipmaker.Minutes from the Federal Reserve's latest gathering show most officials remained more worried about the risk of cutting interest rates too soon than keeping them high for too long and damaging the economy.Beth Hammack had been billed as one of the most likely candidates to break into Goldman Sachs Group Inc.'s all-male top tier. Now, she's calling it quits after 30 years at the Wall Street giant.A vote on the Israel-Hamas war triggered chaos in the UK's House of Commons with the Scottish National Party walking out in protest and Prime Minister Rishi Sunak's Conservatives also refusing to cast their ballots.Why a $2.3 billion rail project spanning three African countries is critical to boosting adoption of electric vehicles. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) The US has told allies that Russia could deploy a nuclear weapon or a mock warhead into space as early as this year, according to people familiar with the matter. (2) As Russia's war in Ukraine enters a third year, President Vladimir Putin's forces have shifted to the offensive and captured the eastern city of Avdiivka after months of fighting. In a conflict where momentum has ebbed and flowed, the mood is now noticeably darker in Kyiv. (3) HSBC reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations. (4) Citigroup lifted Chief Executive Officer Jane Fraser's pay about 6% to $26 million for a year in which she kicked off a major overhaul of the Wall Street giant to simplify operations and boost profitability. (5) UK Chancellor Jeremy Hunt will have £23 billion of headroom for pre-election tax cuts in his budget next month but any giveaways will be "sandwiched between far bigger past and future tax rises," according to the Resolution Foundation. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Barclays says it will go on a major cost-cutting drive as part of efforts to boost returns above 12% in the coming years, ending months of speculation about the future direction of one of Europe's largest investment banks. (2) Capital One has agreed to buy Discover in in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street's behemoths. (3) China has ramped up support for the troubled property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come. (4) A coalition of international law enforcement agencies, including the FBI and UK National Crime Agency, said they have disrupted LockBit, one of the most prolific hacker groups of all time, including shutting down websites the organization used for ransomware payments. (5) After decades of occupying different business areas, the last two remaining banks with links to the storied Rothschild name are encroaching on each other's territory. 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 decades of occupying different business areas, the last two remaining banks with links to the storied Rothschild name are encroaching on each other's territory. (2) Capital One has agreed to buy Discover in in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street's behemoths. (3) China has ramped up support for the troubled property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come. (4) BHP's first-half net income slumped 86% from the year before, after oversupply in the nickel market forced the world's biggest miner to write down the value of key assets. (5) Volkswagen, Renault and Stellantis are thinking the unthinkable, exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats. 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 England risks deepening the UK's recession if it doesn't pivot to interest rate cuts soon, its former chief economist Andy Haldane warned in an interview with Bloomberg Radio. (2) Apple will face a European Union fine close to €500 million over the regulator's investigation into allegations it silenced music-streaming rivals, including Spotify on its platforms. (3) High-earning British bankers, lawyers and consultants are now some of the workers most vulnerable to trade shocks, according to the Resolution Foundation. (4) Just months after setting a 2024 target for the S&P 500 Index, Goldman Sachs Group strategists have boosted their forecast for a second time as the stock market eclipsed the significant 5,000 milestone this month. (5) Thomas Heatherwick is one of the best known names in modern building design. He's behind Coal Drops Yard in London, Vessel and Little Island in New York - and the cauldron for the Olympic Flame in the 2012 London games. He's been speaking to us here on Bloomberg Radio about the need for more homes to be built in the UK and says he'd like to be involved in designing new social housing in Britain. 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 - we look ahead to Nvidia earnings and minutes from the Fed In the UK - we preview this season of European fashion weeks. They're expected be as glamorous as ever, with the fashion elite descending on London, then Milan, and then Paris. In Asia - looks at what we can expect from the minutes of the Reserve Bank of Australia See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Apple, racing to add more artificial intelligence capabilities, is nearing the completion of a critical new software tool for app developers that would step up competition with Microsoft. (2) Keir Starmer's poll-leading opposition Labour Party overturned significant majorities to win two parliamentary seats from Rishi Sunak's governing Conservative Party, denting the prime minister's hopes of wrestling back momentum ahead of a UK-wide vote expected this year. (3) UK Chancellor Jeremy Hunt has deemed a plan to cut the basic rate of income tax to 18% from 20% unaffordable, The Telegraph reports, citing a person familiar with the matter. (4) Federal Reserve Bank of Atlanta President Raphael Bostic said there's no rush to cut interest rates with the US labor market and economy still strong, and cautioned it's not yet clear that inflation is heading sustainably to the central bank's 2% target. (5) For more than 20 years, Stavros Gavriliadis and Dimitrios Elefsiniotis have been building a life together. They bought a house and started a family. But under Greek law, they couldn't marry or both be recognized as the parents of their three children — until this week. 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 fell into a technical recession in the second half of 2023. GDP shrank 0.3% in the fourth quarter, pushing the UK into a shallow economic dip. (2) Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group’s demands as “delusional.” (3) Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election. (4) Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter. (5) Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts. (6) Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group’s demands as “delusional.” Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election.Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter.Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts.Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.At least one person has been killed and more than 20 others wounded after a shooting at a parade in Kansas City celebrating the winners of the Superbowl.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) US consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts.(2) The global bond rally that started in December with the hope that the Federal Reserve had finally pivoted to favor interest-rate cuts has evaporated.(3) UK inflation data will likely show that both the headline and services figures accelerated in January. (4) Russia is relying on thousands of workers from neighboring countries to undertake the multi-billion-dollar reconstruction in the occupied territories of Ukraine.(5) Since the Covid-19 pandemic upended the use of real estate around the world, lenders have had little incentive to get tough on borrowers squeezed by soaring interest rates and take on loans that had lost value. For many, the time to wait it out is nearing its end.(6) Less than an hour after issuing its earnings, Lyft Chief Financial Officer Erin Brewer joined a call with analysts and said the company is actually expecting margins to expand by 50 basis points — not 500.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 wage growth slowed less than expected in the fourth quarter, underscoring the Bank of England's caution against moving too quickly to cut interest rates. (2) Arm Holdings Plc soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.(3) US President Joe Biden said he's pushing for a six-week pause in fighting between Israel and Hamas to allow for the release of hostages, saying that could lay the groundwork for broader peace.(4) Elon Musk told US Republican senators "there is no way in hell" that Russian President Vladimir Putin could lose the war on Ukraine, weighing in on a conflict that has been affected by Musk's own Starlink satellite services.(5) Bond traders have come more in line with the Federal Reserve's trajectory for the upcoming easing cycle. Strategists at Citigroup Inc. say what's missing now is traders hedging the risk of a very brief easing cycle followed by rate increases shortly thereafter.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) US President Joe Biden said he's pushing for a six-week pause in fighting between Israel and Hamas to allow for the release of hostages, saying those conditions could lay the groundwork for broader peace.(2) Bond traders have come more in line with the Federal Reserve's trajectory for the upcoming easing cycle. Strategists at Citigroup Inc. say what's missing now is traders hedging the risk of a very brief easing cycle followed by rate increases shortly thereafter.(3) Arm Holdings soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.(4) Regulatory reforms since the 2008 financial crisis cannot be blamed for the sharp discount in UK commercial bank valuations, Bank of England Governor Andrew Bailey said.(5) Britain isn't building enough homes and the shortage is about to get even worse. That's based on calculations by Bloomberg News of government population data and homebuilding targets from the biggest political parties, which suggests a shortfall of almost 100,000 homes a year over the next parliament when including pent up demand from years of missed 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) Donald Trump's comments over the weekend that he once told a European leader he'd abandon NATO members to a Russian invasion if they hadn't met defense-spending commitments have renewed talk about what a second term would mean for allies.(2) Israel's military conducted strikes early Monday morning on the city of Rafah in the southern Gaza Strip, where more than 1 million people have sought shelter from the fighting.(3) Ukrainian military intelligence said Russian forces increasingly use Starlink terminals on the frontline, a new twist in Kyiv's uneasy relationship with Elon Musk's internet service.(4) NatWest Group is preparing to hand out marginally lower bonuses to its staff as the UK government works on a plan for a retail share offer that could significantly cut its remaining stake in the bank, Sky News reported. (5) The Kansas City Chiefs have won the Super Bowl, beating the San Francisco 49ers 25-22 in overtime. Star Quarterback Patrick Mahomes threw the winning touchdown pass with 3 seconds left on the clock.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 - we look ahead to inflation data and Coca-Cola earnings In the UK - we discuss geopolitics ahead of the Munich Security Conference In Asia - key eco data is in focus as the BOJ weighs ending its interest rate policy See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) President Vladimir Putin said Russia hasn't achieved its objectives in Ukraine yet, adding in an interview with former Fox News host Tucker Carlson that he would consider negotiations if the US stops supplying weapons to Kyiv. (2) President Joe Biden forcefully — and at times angrily — sought to combat suggestions his acuity was declining in a hastily-arranged press conference Thursday night. But the 81-year-old leader may have made his biggest election-year liability worse. (3) US regulators will begin requiring hedge funds to confidentially share more information about their investment strategies. (4) Chancellor of the Exchequer Jeremy Hunt said he is "very attracted" to the idea of creating a tax-free savings account for investing in British stocks — a so-called British ISA — as part of efforts to boost the UK's struggling stock market. (5) Once treated as heirlooms, pro football franchises are now billion-dollar businesses, and a new class of investors is circling See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Former Barclays Plc Chief Executive Officer Jes Staley has long maintained that he cut off his friendship with Jeffrey Epstein once he became boss of the UK bank. Legal documents seen by Bloomberg News claim that he had indirect contact with the late pedophile financier for years after that. Representatives for Staley and JPMorgan didn't respond to requests for comment. (2) When the US punished Morgan Stanley for leaking upcoming stock trades to favored clients, it kept the list of recipients secret. They include one of Wall Street's biggest players: Citadel. (3) Walt Disney reported better-than-expected earnings for its fiscal first quarter and issued an upbeat profit outlook for the year, citing cost-cutting benefits and the strong performance of its international theme parks. (4) Europe's earnings season is off to one of the worst starts in at least ten years, with a majority of companies publishing weaker-than-expected results. But the ones delivering positive surprises amid all the gloom and doom are reaping outsize rewards. (5) Cheap power and friendly relations with China have made Ethiopia a top pick for Chinese Bitcoin miners.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) New York Community Bancorp's credit grade was cut to junk by Moody's Investors Service less than a week after the regional lender alarmed shareholders by slashing payouts and stockpiling reserves to cover troubled loans tied to commercial real estate. (2) Treasury Secretary Janet Yellen said that while losses in commercial real estate are a worry, US regulators are working to ensure that loan-loss reserves and liquidity levels in the financial system are adequate to cope. (3) A rally in Chinese shares continued Wednesday, a sign of growing investor hopes for authorities to take more forceful steps to sustain a nascent market recovery. (4) UK lawmakers called on the Bank of England to rethink the way it's unwinding its quantitative easing stimulus program, saying asset sales the Treasury indemnified are now costing taxpayers 10s of billions of pounds. (5) From the Glazer family at Manchester United to Todd Boehly and his Wall Street financiers at Chelsea, the American takeover of clubs in the Premier League isn't new. Yet below the world's richest competition, the footprint on the English game is deepening and widening — and raising even more questions over who will make money and who will lose it. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: UBS Group AG will resume share buybacks this year, vowing to hand as much as $1 billion to shareholders in the second half as it seeks to move beyond the integration of Credit Suisse. Hopes are also building for more concerted efforts to boost shares as regulators plan to brief President Xi Jinping on market as soon as Today. King Charles is receiving treatment for an unspecified form of cancer, in the latest health scare for the British royal family less than a year-and-a-half after the death of Queen Elizabeth Bank of England Chief Economist Huw Pill said interest rates could drop this year as a "reward" to the economy for bringing inflation down. Germany's far-right AfD party is a risk for the economy because it threatens to deter investment by international businesses, Finance Minister Christian Lindner said. 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 Biden administration vowed more strikes against Iran's forces and its proxies in the Middle East after three straight days of punishing attacks, even as senior officials insisted the US won't be pulled into a prolonged regional conflict. (2) Iranian-backed Houthis vowed to respond to US and British-led airstrikes after dozens of targets of the Yemen-based rebel group were struck overnight. (3) Federal Reserve Chair Jerome Powell said Americans may have to wait beyond March for the central bank to cut interest rates as officials look for more economic data to confirm that inflation is headed down to 2%. (4) China has pledged to stabilize markets after shares sank to a five-year low in chaotic trading on Friday, but policymakers offered no specifics on how they plan to end a selloff that's erased more than $6 trillion of value and dented confidence in the world's second-largest economy. (5) On top of tumbling stocks, an embattled property market and a struggling economy, there's at least one more thing keeping domestic Chinese investors up at night: a potential win by former US president Donald Trump in the November general election. (6) Former President Donald Trump says he might impose a tariff on Chinese goods of more than 60% if elected, signalling an increasingly hawkish tone against the top supplier of goods to the US. 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 - we preview Disney and Uber earnings In the UK - we detail how big oil is grappling with geopolitics and climate change In Asia - we look to the Lunar New Year and the health of the Chinese consumer See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: Apple reported a deepening slump in China during the holiday quarter, even as total iPhone sales were stronger than expected and the company returned to revenue growth. Meta and Amazon reported better-than-expected earnings on Thursday, sending their stock prices soaring by a combined $270 billion Bank of England Governor Andrew Bailey has put the British central bank on a clear path to rate cuts. He also gave investors a few reasons to think the journey for policy makers in London may take longer than for those in Washington and Frankfurt. New York Community Bancorp tumbled for a second straight day as Wall Street downgrades piled up. Regional bank peers slumped as well, with a closely watched index extending its two-day drop to 8%, the most since the sector's tumult in March roiled financial markets. President Joe Biden is making no secret of his intentions for multiple attacks on an Iran-backed group that killed three US soldiers last week, a strategy that's exposed him to criticism he's giving up the element of surprise. 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 Federal Reserve held interest rates steady for a fourth straight meeting and signaled an openness to cutting them, though Fed Chair Jerome Powell threw cold water on investors' hopes that reductions would begin in March. (2) The Bank of England is likely on Thursday to deliver a brighter outlook for the UK economy, reducing its forecast for inflation this year and potentially opening the way to interest-rate reductions that could boost growth. (3) Deutsche Bank has raised its mid-term revenue target. Planned cost savings the Frankfurt-based bank had previously announced will result in the reduction of some 3,500 jobs, mostly in the back office, Deutsche Bank also said. (4) In an unscripted scene during tense testimony Meta CEO Mark Zuckerberg stood before a packed Senate hearing room and apologized directly to the families of children who were victims of sexual exploitation on social media platforms. (5) Prime Minister Giorgia Meloni is increasingly counting on the same people who propelled her to power to keep Italy solvent: its citizens. See omnystudio.com/listener for privacy information.