Bloomberg Daybreak: Europe Edition

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US - we preview Netflix earnings and look ahead to inflation data In the UK - We look ahead to the first European Central Bank meeting of the year In Asia - will the Bank of Japan end the World's last negative interest rate In Washington - we head to New Hampshire for the country's first primary election of the 2024 Presidential race. 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 Chancellor Jeremy Hunt has told Bloomberg that Britain is a safe harbour for investors in an increasingly unstable world. Speaking on the sidelines of the World Economic forum in Davos, Hunt also hinted at tax cuts in the March budget as a way to deliver growth. (2) Houthi militants in Yemen fired missiles at an American-owned commercial vessel on Thursday, the same day President Joe Biden acknowledged US airstrikes have not halted the Red Sea attacks. (3) Our Economics and Government Editor Stephanie Flanders joins us to look back at the week that was in Davos and what we learned from the gathering of business and political leaders. (4)Israel will insist on security control over the West Bank and Gaza Strip in the foreseeable future after the war, Prime Minister Benjamin Netanyahu said, rejecting rule by the Palestinian Authority despite calls from the US. (5) Congress passed a temporary spending bill to avert a partial US government shutdown this weekend, sending the legislation to the White House, where President Joe Biden plans to sign it. (6) JPMorgan Chase & Co. raised Chief Executive Officer Jamie Dimon’s pay to $36 million for 2023, a year in which the bank notched the highest profit in the history of American banking.See omnystudio.com/listener for privacy information.

On today's podcast:(1) The Pakistani military carried out targeted strikes against militant hideouts in Iran after Tehran launched similar attacks the day before, in an escalation of tensions. (2) The US launched another round of strikes on Yemen's Houthis overnight as the Iran-backed militant group continues to roil global shipping markets with attacks around the Red Sea. (3) Apple was slighted by Netflix, which said it's not bothering to make an app for the Vision Pro just weeks ahead of the headset's debut. The company was also forced to sell watches without its blood oxygen feature starting today. And it may also face a DOJ antitrust lawsuit as early as March. (4) Rishi Sunak's plan to deport asylum seekers survived a key vote after most rebels fell in line, but the saga further dented his authority before a general election later this year. (5) Britain's biggest banks have a new problem on the horizon: car loans. The Financial Conduct Authority has reached out around a dozen banks about their auto lending practices, 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) Confidence in the resilience of the global economy is cheering up the Davos crowd against a backdrop of war and prospective political upheaval in the year ahead. (2) Data released Wednesday presented a mixed bag for China's economy, which hit an official growth target for the year but has failed to shake off several of the problems most persistently weighing on domestic demand and confidence. (3) Federal Reserve Governor Christopher Waller says the US central bank should take a cautious and systematic approach when it begins cutting interest rates, a process that can start this year absent a rebound in inflation. (4) Rishi Sunak suffered a major setback as a right-wing politician whom he made deputy chairman of the governing Conservative Party to boost support ahead of a looming UK general election resigned over the prime minister's refusal to toughen his signature anti-immigration bill. (5) Zelenskiy turns on Davos charm with humor, handshakes and hugs. The Ukrainian president spent 24 hours pitching the Wall Street elite for investment and patching up ties with old allies as part of a push to shore up the faltering war effort. 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 tightened his grip on the Republican presidential nomination after Iowa voters delivered him a victory in Monday's caucuses and moved him one step closer to returning to the White House. (2) Houthi militants hit a US-owned commercial vessel with an anti-ship ballistic missile on Monday, underscoring warnings that the world's most important trade artery remains too risky for navigation. (3) Easing pressure from food and energy bills will help drive UK inflation down to 1.5% in May, well under the Bank of England's target, according to ING. (4) Elon Musk said he would rather build AI products outside of Tesla if he doesn't have 25% voting control, suggesting the billionaire may prefer a bigger stake in the world's most valuable electric vehicle maker. (5) British pension funds, which sold so many bonds two years ago the Bank of England was forced to intervene, are gearing up to flood the market with billions of pounds of private assets. See omnystudio.com/listener for privacy information.

On today's podcast:(1) UK police said they arrested six people over a plot to target the London Stock Exchange. Activists from the Palestine Action group were allegedly planning to cause damage to the LSE and to prevent the building from opening for trading Monday morning, the Met said in a statement. (2) UK Prime Minister Rishi Sunak will address Parliament on Monday after his government said it's ready to carry out further strikes on Houthi targets in Yemen if the group continues to attack commercial vessels in the Red Sea. (3) As the Israel-Hamas war enters 100 days, the question remains whether it will spread from Gaza and turn into a wider conflagration. But with the appetite in Israel for war against Hezbollah growing and American influence on its ally seemingly waning, the answer is more likely to be found in Tel Aviv or Jerusalem than Beirut or Washington. (4) Taiwan elected current vice president Lai Ching-te as leader of the global chip hub at the center of US-China tensions, putting in power a man Beijing has branded an "instigator of war." (5) The US state of Iowa kicks off the race for the 2024 Republican presidential nomination today. Caucuses are set to take place this evening but there are fears sub zero temperatures of below -30 could dampen turnout. 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 the week's upcoming economic data, including retail sales. In the UK - we look ahead to the World Economic Forum in Davos In Asia - we discuss the current climate for chipmakers in China In Washington - with the Iowa caucuses right around the corner, new polling suggests that the Republican race is tightening. 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 and UK launched airstrikes on more than 60 Houthi rebel targets in Yemen, sparking vows of retaliation and a rise in oil prices after weeks of attacks in the Red Sea disrupted commercial shipping. (2) Oil jumped as the US and allies launched airstrikes against Houthi rebels in Yemen, stepping up retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway. (3) European Central Bank President Christine Lagarde warned that a look at Donald Trump's first term as US president raises concerns about his potential return to power in 2025. (4) First Citizens Bank can proceed with a $1 billion lawsuit accusing HSBC of poaching dozens of employees and stealing trade secrets from Silicon Valley Bank shortly after its acquisition by First Citizens. (5) Some of the most influential investors are giving the world's largest private equity firms a message: if you want money for your next fund, here's our list of demands. 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 regulators have for the first time approved exchange-traded funds that invest directly in Bitcoin. The approvals mark a rare capitulation by the SEC following opposition that lasted for more than a decade. (2) President Joe Biden's administration is backing legislation that would let it seize some of $300 billion in frozen Russian assets to help pay for reconstruction of Ukraine. (3) Barclays said the final three months of the year were challenging for its traders and investment bankers, joining rivals across Wall Street in lamenting a continued slump in revenue from dealmaking and markets. (4) Former New Jersey Governor Chris Christie said he is ending his long-shot 2024 campaign centered on denying onetime ally Donald Trump the Republican presidential nomination. Before his event, Christie was caught on a hot mic disparaging other GOP candidates who will be courting his supporters. (5) France's government says it wants foreign investment but some companies find their plans derailed by Sisse, the national agency with an outsized reach. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot-Bitcoin exchange-traded fund quickly morphed into a major cybersecurity incident on Tuesday. (2) Boeing CEO Dave Calhoun fought back tears as he said the plane maker must own up to its shortcomings as it grapples with a safety incident that has renewed questions over the quality of its manufacturing. (3) BlackRock will dismiss about 600 employees, or roughly 3% of its global workforce, as it seeks to reallocate resources amid rapid changes in asset management. (4) Britain's foreign secretary, David Cameron, said he's "worried" that Israel might have broken international law during the conflict in the Gaza Strip, and that the country must to do more to allow aid to flow. (5) The UK government is pressuring councils to run down their reserves to help stave off a financial crisis beginning to rip through the country's town halls.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) United Airlines says it found loose bolts in multiple Boeing 737 Max jets and Alaska Air indicated some loose hardware was visible on its fleet during checks following the latter's midair blowout. (2) US Secretary of State Antony Blinken says Houthi militants in Yemen must know they'll face "consequences" for continued attacks on ships in the Red Sea, even as a top regional leader warned against military action by a US-led coalition. (3) Barclays says its global headcount dropped by about 6% over 2023, the most visible sign yet of the bank's cost-cutting push. (4) The UK Treasury is facing a hit of more than £10 billion per year as higher interest rates push up the cost of financing student loans, meaning the taxpayer will now take a loss even on debt that is fully repaid, new analysis shows. (5) The crucial Christmas shopping period was weaker than expected in the UK as consumers burdened by higher inflation carefully watched their spend. 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 grounding of Boeing Co.’s 737 Max 9 has quickly gathered pace, with carriers from the US to Panama to Turkey pulling the model from service for inspections after a fuselage section on a brand-new Alaska Airlines jet blew out during flight.(2) US congressional leaders announced a $1.59 trillion deal on spending for the current fiscal year, lessening the chances of a partial government shutdown on Jan. 20.(3) The Czechs and Slovaks make more cars per capita than anywhere else in the world. Now, the transition to EVs is putting a vast supply chain in jeopardy.(4) China has detained the head of an overseas consulting firm for allegedly spying on the Asian nation for the British government, putting renewed focus on an industry targeted by Beijing’s national security crackdown(5) The Wall Street Journal says Elon Musk's continued drug use worries executives in business empire. 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 - As earnings season kicks off, we preview what we can expect from some of Wall Street's biggest banks. In the UK - The economic trajectory will be back in focus in the coming days - as a batch of data will help tell us whether Britain may avoid a recession. A recent survey of company executives highlighted their pessimism about the outlook - despite the encouraging signs coming from some quarters. In Asia - Taiwan's presidential election is set for January 13th.The results will help shape the course of US-China relations for years to come. In DC - With the race for President in full swing, we look at a new series of new Gallup polls focusing on the 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) Islamic State claimed responsibility for Wednesday’s attack in Iran that killed scores of people and threatened to further inflame tensions in the Middle East. (2) The options market for US Treasuries was abuzz Thursday following the emergence of a large bearish wager that Friday’s jobs report will trigger the biggest backup in benchmark yields in more than nine months. (3) As housing shortages cause rents and home prices to surge across major European cities, investors have the capacity to inject an estimated 82 billion euros in new residential projects over the next two years.(4) Huawei’s newest laptop runs on a chip made by Taiwan Semiconductor Manufacturing, a teardown of the device showed, quashing talk of another Chinese technological breakthrough.(5) Prime Minister Rishi Sunak suggested he plans to call a UK general election in the fall, as he sought to silence growing calls from opposition parties for a vote in May. 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 policymakers agreed last month that it would be appropriate to maintain a restrictive stance “for some time,” while acknowledging they were probably at the peak rate and would begin cutting in 2024.(2) Iran said attacks that killed almost 100 people in the central part of the country were carried out to punish its stance against Israel, the latest sign that the war between the Jewish state and Hamas risks widening into a broader regional conflict.(3) The glitzy Victoria Square development, boasting two skyscrapers and a new Hilton Hotel, was to be a new landmark for the London commuter town of Woking. Instead, it stands as a monument to how financial bets by local councils can go badly wrong.(4) Several previously confidential documents related to Jeffrey Epstein were made public in federal court in New York after a yearslong battle over their release.(5) UK businesses are keeping their investment plans on ice because of high debt-servicing costs and a stagnant economy, according to the British Chamber of Commerce. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) A senior Hamas leader was killed by Israel in an explosion in Beirut, according to the Palestinian militant group, raising fresh concerns of a regional escalation of the war in Gaza. (2) Container shipping giant Maersk says it will once again stop letting its vessels sail through the Red Sea, a vital trade corridor, after another of its carriers came under attack in the space of a few weeks. (3) Apple got itself a new bear as expectations of soft demand for its latest iPhone prompted analysts at Barclays to downgrade the stock. Shares fell 3.6% on Tuesday, their biggest one-day percentage drop since September, and the decline erased more than $107 billion in market value. (4) Tesla delivered more vehicles than expected in the fourth quarter, though not enough for the Elon Musk-led company to stay ahead of China's BYD Co. in global electric-car sales. (5) Claudine Gay is stepping down as president of Harvard University, ending a brief and tumultuous tenure marred by allegations of plagiarism and a campus controversy over antisemitism. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Iran has dispatched a warship to the Red Sea after the US Navy destroyed three Houthi boats, a move that risks ratcheting up tensions and complicates Washington's goal of securing a waterway that's vital to global trade. (2) Israel's Supreme Court overturned a highly contested law aimed at weakening the justices' own power in a loss to Prime Minister Benjamin Netanyahu's right-wing coalition. (3) ASML canceled shipments of some of its machines to China at the request of US President Joe Biden's administration, weeks before export bans on the high-end chipmaking equipment came into effect, people familiar with the matter said. (4) At least 30 people were killed and scores injured in a powerful earthquake that hit off the Noto Peninsula on Japan's northwest coast, toppling buildings, buckling roads and triggering a blaze that ripped through a city. (5) Britain's push to become a "space superpower" is being undermined by political disarray and weak domestic investment, while showing how the nation needs international partners more than ever post-Brexit.See omnystudio.com/listener for privacy information.

Bloomberg’s Nathan Hager spends the hour covering the biggest tech stories from 2023 and what we can expect for the year ahead. He speaks with Gene Munster of Deepwater Asset Management and Dan Ives from Wedbush. 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 Friday's December jobs report. Bloomberg Economics says the data should show job growth resuming its slowdown and the unemployment rate edging up. In the UK - consumers are feeling the pinch from the higher cost of living - but they're still spending enough to fuel London's restaurant and cultural scenes. The weaker pound versus the dollar has also helped attract more big-spending tourists, particularly from the US. We check in on the restaurant scene. In Asia - as 2023 comes to a close, we take a look at what's ahead for markets in China, India and Japan in 2024. In Washington - while our attention is focused on the presidential election in 2024, a possible government shutdown and other disruptions loom.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Maine’s secretary of state ruled that Donald Trump cannot run in the state’s Republican primary, citing his efforts to overturn the 2020 election results.(2) Half of the container-ship fleet that regularly sails the Red Sea and Suez Canal is avoiding the route now because of the threat of attacks, according to new industry data. (3) Ukraine’s premier sounded the alarm over the country’s finances, requesting an emergency meeting with international donors as Kyiv confronts “exceptionally high uncertainty” over its budget at the start of the year. (4) UK consumers are increasingly worried about their financial security and holding tighter to their purse-strings heading into 2024, reviving concerns that the economy could tip into a recession. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) The world’s debt market is on track to post its biggest two-month gain on record as traders ramp up expectations that central banks everywhere will slash interest rates next year.(2) The Biden administration announced Wednesday $250 million in weapons and equipment for Ukraine, its final package for the year, as officials press Congress to renew aid in the new year. The Pentagon has previously said it will run out of money to replace weapons sent to Ukraine by Dec. 30 unless Congress approves new funding.(3) Shipping giant Hapag-Lloyd said it will keep its vessels away from the Red Sea even after the launch of a US-led taskforce to protect the key trade route from militant attacks. (4) Britain’s economy probably will avoid a recession in 2024 and strengthen in the second half of the year as consumers benefit from falling inflation and the easing of a lengthy cost-of-living crisis. 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 strikes on targets in Iraq and fresh attacks by Houthi militants on shipping in the Red Sea provided the latest warning signs that the war in Gaza risks expanding into a wider conflict destabilizing the Middle East.(2) Wall Street kicked off the final week of 2023 with gains in stocks, extending a rally that put the market on the brink of a record. (3) Elon Musk once scoffed at the notion that BYD could compete with Tesla. Now, the automaker run by billionaire Wang Chuanfu is poised to be the new No. 1 in electric vehicles.(4) Apple, seeking to defend a business that generates roughly $17 billion a year, is appealing a US sales ban of its smartwatches after the White House refused to overturn the measure. 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. 1) In the US - It's been a very Merry Crypto-mas with Bitcoin and Etherum surging. Will it continue in 2024? 2) In the UK - 2023 has been a year of inflation, rate debates, and job cuts. What lessons can be learned from the past year and how can they help us navigate the next 12 months? 3) In Asia - After a devastating pandemic and prolonged economic slowdown in China, how has Macau's casino and gaming business recovered? 4) In Washington - The 118th Congress has convened for the year after a session marked with turmoil. What was actually accomplished, and who were the winners and losers? 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 suggested falling debt interest costs may give him the headroom to deliver tax cuts at his budget in the spring, boosting the governing Conservative Party in what's likely to be an election year.(2) The Czech Republic declared Saturday a national day of mourning after the worst shooting in the country's history left at least 15 people dead at Prague's Charles University.(3) Apple has stopped selling the Apple Watch Series 9 and Ultra 2 in the US on its online store, just days before a ban related to a patent dispute takes effect.(4) Elon Musk is lashing out at the state of US financial markets. In a wide-ranging talk with ARK Investment Management's Cathie Wood he bemoaned the high regulatory burden faced by publicly traded companies, the pressure from shareholders that limits efficiency, and how passive investing is stoking volatility.(5) The shift away from cars with dirty combustion engines is running into a new hurdle: Drivers don't want to buy used electric vehicles, and that's undermining the market for new ones, too.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 UK and Switzerland will sign an agreement around financial services on Thursday, a post-Brexit accord to deepen ties between their respective financial centers. (2) An escalation of attacks on marine vessels in the Red Sea is causing widespread trade disruption as the world's biggest vessel owners take alternative longer routes, sending shipping rates soaring. (3) European Union finance chiefs ended months of wrangling over fiscal rigor to agree on new rules that will aim to rein in debt and define the bloc's ability to invest in key sectors such as defense for years to come. (4) Citigroup has decided to exit the distressed-debt trading business, the latest retrenchment in Chief Executive Officer Jane Fraser's effort to reshape the firm in pursuit of higher returns. (5) With aid from allies increasingly in doubt, companies are stepping in to support Ukraine's war 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) Donald Trump is ineligible to serve as US president because of his actions inciting the Jan. 6, 2021 attack on the US Capitol, Colorado's highest court found, in an unprecedented ruling that's headed for the US Supreme Court. (2) The US and its allies are considering possible military strikes against Houthi rebels in Yemen, in a recognition that a newly announced maritime task force meant to protect commercial ships in the Red Sea may not be enough to eliminate the threat to the vital waterway. (3) Bets on the basis trade are so large that they’ve become central to buying and selling of US government bonds. Read our Big Take on the small group of hedge fund traders who dominate dealings in the tiny price gaps between Treasuries and futures. They’re the driving force behind a wager creating sleepless nights for regulators. (4) UK house prices have plunged by 11% in real terms in just over a year, revealing the true extent of the downturn in the property market, calculations by Bloomberg Economics show. (5) Wall Street's dramatic year of dealmaking drought, collapsing banks and job cuts is ending with a mere whimper for traders' bonuses. 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 Defense Secretary Lloyd Austin has announced a new maritime task force intended to protect commercial vessels travelling through the Red Sea from attacks by Houthi militants. The countries involved in the new task force — dubbed Operation Prosperity Guardian — include the US, the UK, Bahrain, Canada, France, Italy, the Netherlands, Norway, the Seychelles and Spain. (2) The Bank of Japan offered little for rate-hike bulls as it stuck with the world's last negative interest rate and kept guidance unchanged on future policy in a decision that pared some of the yen's recent gains. (3) Apple will stop selling the latest versions of its smartwatch in the US due to a patent dispute, taking some of its best-selling devices off the market during the busy holiday season. Engineers at the company are racing to make changes to algorithms on the device that measure a user's blood oxygen level — a feature that Masimo has argued infringes its patents. (4) Nippon Steel has defended the whopping 142% premium it's paying for United States Steel, as the Japanese company seeks to reinforce its position as a global titan to counter a weak domestic outlook. (5) The UK government has lost close to £300 million ($379 million) on the £1.14 billion portfolio of start-up investments it made during the pandemic to prop up struggling young businesses. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Israel's foreign minister said any call for a ceasefire with Hamas is a "prize for terrorism," after France, UK and Germany urged efforts toward halting the war as the civilian death toll mounts. (2) Egypt's Suez Canal Authority said it's "closely following" tensions in the Red Sea and any impact on canal crossings, after Yemeni militant attacks on vessels hundreds of miles to the south prompted major shipping lines to temporarily avoid the region. (3) Federal Reserve Bank of Chicago President Austan Goolsbee said it's too early to declare victory in the central bank's inflation fight, and decisions on interest-rate cuts will be based on incoming economic data. (4) The White House has taken aim at former President Donald Trump for saying immigrants are “poisoning the blood of our country,” portraying his comments as inflammatory fascist-style rhetoric that’s anathema to American democracy. (5) Lengthy court backlogs are a symptom of a criminal justice system that appears to be at breaking point. The crown courts of England and Wales, which deal with the most serious offenses, are buckling under a record backlog of almost 67,000 cases, a figure that has doubled since 2019, according to government data. 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. 1) In the US - US retail sales unexpectedly picked up in November as lower gasoline prices allowed consumers to spend more to kick off the holiday shopping season. 2) In the UK - It's crunch time for last-minute shoppers ahead of the holidays in London - with retailers hoping for a last-minute surge in spending, despite the general economic gloom. 3) In Asia - Bank of Japan officials see little need to rush into scrapping the world’s last negative interest rate this month as they have yet to see enough evidence of wage growth that would support sustainable inflation 4) In Washington - Anticipation of a new wave of investors has Bitcoin booming once again. Key to the newfound optimism are indications that the US will soon approve exchange-traded funds that invest directly in the cryptocurrency.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Europe’s central bankers are in no hurry to join the US pivot toward interest-rate cuts: the Bank of England kept interest rates at a 15-year high, sticking with its message that borrowing costs will remain elevated for some time despite growing bets on a wave of cuts in 2024. And European Central Bank policymakers are largely united in expecting to cut interest rates later than financial markets currently anticipate, according to officials familiar with their thinking. (2) Hungary has blocked a new 50-billion-euro EU financial aid package for Ukraine. (3) China's central bank has injected a record amount of cash into the economy. (4) Citigroup Inc. will shutter its municipal business, one of the most dramatic moves yet by Chief Executive Officer Jane Fraser as she seeks to squeeze better returns out of the Wall Street giant.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 third meeting and gave its clearest signal yet that its aggressive hiking campaign is finished by forecasting a series of cuts next year. (2) Virtually no corner of financial markets was left out of Wednesday's cross-asset advance: Global shares spiked higher. Front-end Treasuries posted their best day since March. World currencies surged against the dollar and corporate bonds rallied. (3) Traders have ramped up bets on interest-rate cuts by the Bank of England next year after soft GDP data reinforced the view that policymakers won't be able to keep monetary policy tight for so long. (4) Today's European Central Bank decision is also being watched for how forcefully policymakers push back against bets on interest rate cuts. (5) Republicans in the US House voted Wednesday to formally authorize an impeachment inquiry into President Joe Biden, escalating a probe that has been underway for several months. 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 UK economy shrank more than expected in October as elevated borrowing costs and wet weather took their toll, setting the stage for another quarter of stagnation that is widely forecast to persist through 2024. (2) The COP28 climate talks in Dubai ended in a deal that saw a commitment to transition away from all fossil fuels for the first time. (3) Germany’s ruling alliance has sealed an agreement on a revised 2024 finance plan, pushing past internal divisions laid bare after a critical funding tool was struck down by the nation’s top court. (4) Argentina devalued the peso by 54%, overhauled its crawling peg and announced massive spending cuts to eliminate its primary fiscal deficit next year as the first steps in President Javier Milei's shock-therapy program. (5) Netflix has released global midyear viewer data for every title on its service for the first time. The political thriller The Night Agent was the most-watched title globally in the first half of 2023, generating 812.1 million hours of viewing.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Prime Minister Rishi Sunak staved off a potential rebellion from members of his Conservative Party, winning a parliamentary vote on legislation designed to green-light his signature plan to deport asylum-seekers to Rwanda. (2) Walgreens has been holding early talks about ways to separate Boots, which could be valued in a deal at about £7 billion, according to the people. Bloomberg understands that it's studying a London IPO as one possibility. (3) Argentina devalued the peso by 54%, overhauled its crawling peg and announced massive spending cuts to eliminate its primary fiscal deficit next year as the first steps in President Javier Milei's shock-therapy program. (4) Divisions between President Joe Biden and Israeli Prime Minister Benjamin Netanyahu over the conflict in Israel spilled into public view, with the leaders' competing visions for the post-war Gaza Strip underscoring a deepening split between the allies. (5) Netflix has released global midyear viewer data for every title on its service for the first time. The political thriller The Night Agent was the most-watched title globally in the first half of 2023, generating 812.1 million hours of viewing.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 at the sharpest pace in almost two years, a further sign that the labor market is cooling in response to a flagging economy. Bloomberg's Senior UK Economist Dan Hanson says it's "a little bit of a Goldilocks report". (2) Right-wing members of Rishi Sunak's UK Conservative Party caucus said his attempt to implement a plan to deport asylum seekers to Rwanda "doesn't go far enough," underscoring the risk to the prime minister of a Parliamentary rebellion. (3) Talks are ongoing to secure an oil and gas cut agreement on the final day of the COP28 climate summit in Dubai. (4) Google's mobile app store maintains a monopoly in the market for distribution of programs and payments on its Android software, a federal jury in California decided, dealing a blow to the technology giant in a high-stakes antitrust battle with Epic Games Inc.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Right-wing members of Rishi Sunak's UK Conservative Party caucus said his attempt to implement a plan to deport asylum seekers to Rwanda "doesn't go far enough," underscoring the risk to the prime minister of a Parliamentary rebellion. (2) Prime Minister Rishi Sunak said he kept government scientists in the dark about his controversial Eat Out to Help Out, an acknowledgment likely to fuel questions over his judgment in pushing a policy that encouraged Britons to mingle in pubs and restaurants during the pandemic. (3) Talks are ongoing to secure an oil and gas cut agreement on the final day of the COP28 climate summit in Dubai. (4) Google's mobile app store maintains a monopoly in the market for distribution of programs and payments on its Android software, a federal jury in California decided, dealing a blow to the technology giant in a high-stakes antitrust battle with Epic Games Inc. (5) The pace of spiraling rental costs in Britain's housing market is finally beginning to slow according to Zoopla See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Arm's CEO Rene Haas told Bloomberg that whoever wins the next election, further restrictions on skilled migration will hurt growth. (2) The Prime Minister is due to answer questions at the Covid inquiry today. Last month, the government's former chief scientific officer told the hearing it was "obvious" Rishi Sunak's Eat Out to Help Out scheme would fuel the spread of the virus. (3) The S&P 500 Index will hit a record high in 2024 as the US avoids sinking into a recession, although a weaker consumer will mean the index gains less than this year's 20% surge, according to Bloomberg's latest Markets Live Pulse survey. (4) University of Pennsylvania president Liz Magill and Board chair Scott Bok resigned this weekend. It comes days after Congressional testimony in which Magill declined to say that calling for the genocide of Jews always violates the university's code of conduct. (5) For decades, many of the world's richest people chose to safeguard their assets in overseas locales ranging from the Cayman Islands to Switzerland and the British Virgin Islands. But a new wealth hub is becoming wildly popular with billionaires — the skyscraper-studded emirate of Abu Dhabi.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. 1) In the US - We preview Federal Reserve policy meeting and news conference with Chair Jerome Powell. Economists see the Fed’s policy committee maintaining a benchmark interest rate target of 5.25% to 5.5%, with bond traders leaning toward a cut in the first half of 2024. 2) In the UK - It's a big week ahead for central banks in Europe too - with both the Bank of England and the European Central Bank meeting on Thursday. Market bets on rate cuts from policymakers in London and Frankfurt have been ramping up - but there's more data to come too. 3) In Asia - The Chinese economy has struggled this year in its post-Covid recovery. For months, the optimists have been hoping for signs of a turning point. Might there be a glimmer of improvement in the week ahead? 4) In Washington DC - we look ahead to what we can expect from congress in the new 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) The Palestinian Authority is working with US officials on a plan to run Gaza after the ongoing war is over, with one of its top leaders arguing that Israel's aim to fully defeat Hamas is unrealistic and the militant group should instead join a new governing structure. (2) Israeli Prime Minister Benjamin Netanyahu has threatened devastation in Beirut and southern Lebanon if Hezbollah opens a second front in the war with Hamas. (3) The rally in the yen spilled over into a second day as traders wagered that the Bank of Japan will scrap the world's last negative interest-rate regime much sooner than previously thought. (4) Rishi Sunak faces a crucial two weeks if he is to control feuding Tory Members of Parliament and lead them into a general election expected next year. The latest fight is about whether the government should bend or ignore domestic and international laws so the UK can deport asylum-seekers to Rwanda without considering their claims. (5) The dynasty behind the luxury brand Hermès added $56 billion to their wealth to become the world's third-richest family, according to Bloomberg's annual ranking. Abu Dhabi's ruling Al Nahyan family topped the Waltons as the world's richest, with wealth of $305 billion. 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 heads of Wall Street's biggest banks took their most direct swing yet at Washington's plans to force them to set aside more cash as a buffer against losses. (2) Senate Republicans blocked $66 billion in emergency Ukraine aid, heightening the risk US funding for the country's war effort will run dry as a partisan stalemate over immigration policies persists in Washington. (3) European Commission President Ursula von der Leyen and European Council President Charles Michel have meet with Chinese leader Xi Jinping in Beijing. The EU officials are holding their first in-person summit with China in four years. (4) The UK's immigration minister resigned over Prime Minister Rishi Sunak's latest proposal to deport asylum seekers to Rwanda, underscoring concerns that the anti-immigration plan doesn't go far enough to pacify a rebellion in the ruling party. (5) Two months ago, Egypt looked like a country in grave danger of financial collapse. Now the world has urgent new reasons to come to the rescue. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Russia's President Vladimir Putin heads to Saudi Arabia as Bloomberg uncovers how Russia is sidestepping Western oil sanctions. (2) The London Stock Exchange faces tough questions after it's hit by a third outage in three months. (3) A Bloomberg scoop: The European Commission is set to recommend delaying tariffs on electric vehicles traded with the UK. (4) Bitcoin goes on a tear to add more than 165% since last year's rout. (5) Goldman boosts its pay pool despite slumping profits. The lender's top leaders say last year’s pay slump contributed to public sniping from unhappy staff. 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's 100 largest companies saw their tax bill rise 7.25% in the past year to a total of £90 billion ($113 billion), accounting for a 10th of all of the government's receipts. (2) Qatar's wealth fund is offloading almost half of its shares in Barclays, a surprise move that comes as the bank's executives ready a strategic overhaul for early next year. (3) Lloyds Banking Group has received £1.2 billion from the owners of the Telegraph newspaper, marking an end of the bank's involvement in a saga that's spawned government investigations and sparked a nationwide discussion on freedom of the press. (4) Rishi Sunak's government raised the salary requirement for people applying to live in the UK, one of a series of measures designed to show voters his ruling Conservative Party has a plan to deliver on its pledge to reduce net migration ahead of a general election expected next year. (5) The OPEC+ oil production cuts can "absolutely" continue past the first quarter if needed, Saudi Energy Minister Prince Abdulaziz bin Salman said, as he pledged the curbs would be delivered in full. 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-backed Houthi rebels claimed they targeted "two Israeli ships" in the Red Sea, part of a series of attacks against commercial vessels in international waters on Sunday during which the US said one of its destroyers shot down three drones. (2) Israel's military is expanding its operations across the Gaza Strip, with the expectation of a ground invasion of southern Gaza looming and warnings to many of the territory's 2.2 million residents to evacuate again. (3) Bill Gates said the world probably won't meet the Paris Agreement's goal of keeping temperature rise below 2C. But he praised COP28 for making progress on tackling climate change despite geopolitical tensions. (4) In recent years, many of the world's biggest banks have published reports chronicling the vast sums they say they're channeling into environmental and social activities. Now, senior people inside the industry are raising questions about those statements. (5) Bitcoin scaled $40,000 for the first time since May 2022 as the largest digital asset extended a rebound on expectations of interest-rate reductions and greater demand from exchange-traded funds.See omnystudio.com/listener for privacy information.

Reports of crimes targeting Jews, Muslims and Arabs have risen around the world in since the Oct. 7 Hamas attack on Israel, and the Israeli military’s retaliatory operation in Gaza. While previous conflicts in the Middle East also sparked a backlash outside the region, this time it is more intense and the wave of hate may be far from cresting, according to advocacy groups, former law enforcement officials and analysts. In this Bloomberg Radio special report, Stephen Carroll examines how these communities are confronting a global surge in hate speech and hate crimes.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. 1) In the US, Economists expect the November unemployment print, due out Dec. 8, to increase to 4% as unemployed workers take longer to find new jobs. 2) In the UK, we'll get fresh data on the number of new car registrations in the coming days. The sector has shown some signs of recovery recently, but manufacturers are still battling against a challenging post Brexit environment including painful tariffs on electric vehicles. 3) In Asia, The EU has said it does not want to decouple from China but rather, to de-risk parts of the relationship. So with a summit coming up between the two blocs, how might China and the EU navigate their dialogue on improving their trade relationship? 4) In Washington, CEOs of the biggest banks on Wall Street, including JPMorgan, Citigroup, Goldman Sachs, Morgan Stanley and Bank of America, expected to testify on regulatory oversight to the Senate banking committee.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Israel has resumed combat against Hamas in the Gaza Strip after a week-long truce between the two sides ended this morning. Israeli jets started striking Gaza soon after deadline passed (2) Bloomberg Economics believes typical signs of a recession started in October 2023. The baseline is that unemployment should increase persistently in 2024, approaching 5% by year-end – a mild recession by historical standards. (3) Rishi Sunak has pledged to spend £1.6 billion on climate projects, as the British premier arrives at the COP28 summit trying to show leaders the UK remains committed to the cause. (4) Britain ordered investigations into the proposed acquisition of the Telegraph newspaper by a vehicle backed by Abu Dhabi's Sheikh Mansour Bin Zayed Al Nahyan, in the latest twist in a battle to control the famed conservative media brand. (5) After two years of delays and production snags, Tesla has finally handed the first Blade Runner-esque Cybertrucks over to customers. Elon Musk delivered a handful of vehicles to their new owners Thursday.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Israel and Hamas have agreed to extend their truce for at least another day, allowing for the release of more hostages held by the militant group in Gaza. (2) Henry Kissinger, the child refugee who rose to become US secretary of state and defined American foreign policy during the 1970s with his strategies to end the Vietnam War and contain communist countries, has died. He was 100. (3) US economic activity slowed in recent weeks as consumers pulled back on discretionary spending, the Federal Reserve said in its “Beige Book” survey of regional business contacts. (4) One of China's largest investment banks has warned its analysts against making any bearish calls and to avoid showing off their lavish lifestyle, as Beijing continues to clamp down on well-paid bankers. (5) Elon Musk, the billionaire owner of X, says the advertisers that have stopped spending on the platform due to his endorsement of an antisemitic post can "f——" themselves.See omnystudio.com/listener for privacy information.

Henry Kissinger, the child refugee who rose to become US Secretary of State and defined American foreign policy during the 1970s with his strategies to end the Vietnam War and contain communist countries, has died. He was 100. Not long before his passing, Kissinger sat down with Bloomberg Editor-in-Chief John Micklethwait for an extended conversation. He talked about his life and career, what shaped his worldview, and his thoughts on the current state of global affairs. Listen here for that special conversation, in its entirety.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 famed investor Charles Munger has died at the age of 99. As Warren Buffett's right hand man for almost 60 years he helped transform Berkshire Hathaway from a failing textile maker into a global conglomerate. (2) Two Federal Reserve officials who led the push for higher interest rates to curb inflation last year signaled they could be comfortable holding rates steady for now, reinforcing expectations that the central bank's current hiking cycle is done. (3) Billionaire investor Bill Ackman tells Bloomberg he is betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting. (4) Hamas has turned over 12 more hostages — 10 Israelis and two Thai citizens — to the Red Cross, according to the Israeli prime minister's office, despite earlier competing claims of violations of the deal that brought their war to a temporary pause. (5) A special report on risky AT1 bonds which are booming again after being decimated by the implosion of Credit Suisse. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Israel and Hamas agreed Monday to extend a cease-fire in their devastating war until Thursday morning, as 11 more freed hostages arrived in Israel. (2) Billionaire Elon Musk said that he'd like to help rebuild Gaza after the war with Hamas in a conversation with Prime Minister Benjamin Netanyahu, part of a day-long series of meetings with political leaders in Israel. (3) Saudi Arabia is asking others in the OPEC+ coalition to reduce their oil-output quotas in a bid to shore up global markets but some members are resisting, delegates said. (4) Inflation in UK shops has fallen to a 17-month low as retailers fight to attract shoppers ahead of the crucial holiday period. (5) Homebuyers are getting the edge in the UK property market, forcing the growing ranks of sellers to slash prices in order to secure deals. 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 denied his economic plans are about to deliver a fresh bout of UK austerity, even as the official fiscal watchdog warned his tax-cutting strategy assumes a significant squeeze on stretched public services. (2) Israel and Hamas signaled that a temporary cease-fire in Gaza could be extended beyond Monday to allow for the release of more hostages and prisoners. (3) Elon Musk will meet with Israeli President Isaac Herzog and representatives of the families of hostages held in Gaza, in an apparent effort to defuse a growing furor over his endorsement of an antisemitic tweet. (4) Joe Biden will skip COP28 according to the NYT. Leaders and officials from more than 200 countries are expected to attend the US climate summit that starts in Dubai Thursday. (5) British lawmakers should review the role and operation of the Bank of England every five years as part of reforms to improve accountability at the central bank and make it "work better" after a string of "errors" that let inflation surge.See omnystudio.com/listener for privacy information.