Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US Treasury yields soar after stronger labor market data pushes US rates bets higher. (2) UBS's global wealth chief Iqbal Khan goes hunting for new assets as Swiss banking giant looks beyond the Credit Suisse takeover. (3) Bloomberg understand the UK government plans to roll back an EU ban on free investment research for clients. (4) Sweden and Turkey hold more talks on Sweden's path to join NATO, ahead of a major summit in Vilnius on Monday. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Fed minutes reveal disagreement over the decision to pause in June. (2) The US Treasury Secretary, Janet Yellen, visits Beijing as tech tensions grow. (3) The FCA says asset managers are not adequately monitoring their funds' liquidity. (4) JP Morgan warns of a 7% UK base rate as house prices fall. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Bloomberg Intelligence has crunched the numbers on why the share prices of European banks lag their Wall Street rivals. (2) China's Xi calls for open supply chains after curbing the exports of key metals. (3) The UK's Financial Watchdog sets out plans for a single UK price feed for bond trades. (4) global temperatures hit an all time record on Monday in a blow for the battle against climate change. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Morgan Stanley tells Bill Dudley he's wrong about the bond market as the yield curve inverts further. (2) The BoE's new policy maker says rates may need to remain permanently elevated. (3) Instagram gets set to launch its Twitter rival Threads app later this week. (4) The CEO of Watchfinder tells us even the experts now struggle to spot some counterfeit timepieces. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Reports from the Financial Times suggest Apple is slashing production forecasts for its mixed-reality headset. (2) Tesla sets a delivery record as Musk's price cut strategy pays off. (3) France deploys 45,000 police officers for a third night as Macron pushes to end riots and looting. (4) Yellen gets set to travel to Beijing as the world's largest economies look to rebuild relations.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 for you in the coming week including the coming jobs report, big annual economic in the south of France, closely-watched AI conference in Shanghai, and a look at what Fed officials are really thinking.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) China's growth momentum continues to slow as stimulus announcements fall flat. (2) The US is reportedly looking to force ASML to ship fewer chip machines to China. (3) UK Business confidence hits a 13 month high as firms shrug of rate rises. (4) Goldman loses its status as the world's top M&A adviser for the first time in 5 years. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Pension funds attack plans to loosen London's listing rules as TheCityUK gets set for its annual conference.(2) OpenAI picks London for its first corporate office outside the US.(3) Central bankers give markets a reality check with calls for more rate hikes.(4) The Qatar group becomes increasingly confident of winning the race to buy Manchester United. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) UBS is planning to cut more than half of Credit Suisse's 45,000-strong workforce. (2) Investment banking revenue tumbles at Jefferies as mergers and acquisitions dry up. (3) Reports suggest the US is preparing to limit the sale of AI chips to China. (4) Price cuts point to the start of a downturn in the UK property market. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Bloomberg Economics says higher rates will push UK into recession by the end of the year (2) Putin labels Wagner mercenary commanders 'traitors' as Prigozhin denies coup attempt. (3) Odey Asset Management has suspended two more funds, including its flagship hedge fund. (4) A decline in UK shop price inflation offers a glimmer of hope for the Bank of England. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Putin labels Wagner mercenary commanders 'traitors' as Prigozhin denies coup attempt. (2) Central bankers head into the Portuguese mountains as rates near their peak. (3) Odey Asset Management suspended its flagship hedge fund on surging redemption requests. (4) A decline in UK shop price inflation offers a glimmer of hope for the Bank of England. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Questions grow over the Russian leader's grip on power as an almost-coup is averted. (2) Sunak backs the Bank of England's decision to raise rates as Labour's poll lead grows. (3) Beijing's modest economic support leaves investors disheartened. (4) Reports suggest HSBC will move its London HQ from Canary Wharf to BT's former office in the Square Mile.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 for you in the coming week including a look at big bank stress tests, a trip to Sintra, the Chinese economy and 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) Andrew Bailey says profit margins need to fall and pay rises need to be curbed after the Bank of England hiked by 50 basis points. (2) The Federal Reserve's Powell says Wall Street giants could face a 20% jump in capital requirements. (3) US Treasury Secretary Janet Yellen tells Bloomberg that recession risks are receding. (4) US Coast guard reveals the five-man Titanic sub crew died after a catastrophic implosion. 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 gets set for a 13th consecutive rate rise. (2) The Fed's Powell indicates that two more hikes are likely this year. (3) An ex-Goldman banker is convicted of passing insider tips to a friend. (4) With less than 10 hours of air remaining, the search for the Titanic sub continues.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) UK inflation came in hotter than expected in May, with traders now pricing in a peak of 6% in Bank of England rates. (2) Biden says Xi was like a dictator kept in the dark about the alleged Chinese spy balloon. (3) The head of the New York Fed says company directors need to ensure management are doing their jobs. (4) With less than 30 hours of air remaining, noises have been detected in the search for the missing Titanic submersible. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Pressure grows on the Bank of England ahead of today's inflation print. (2) Biden says Xi was like a dictator kept in the dark about the alleged Chinese spy balloon. (3) The head of the New York Fed says company directors need to ensure management are doing their jobs. (4) With less than 30 hours of air remaining, noises have been detected in the search for the missing Titanic submersible. 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 6% Bank of England policy rate would lead to a 2% drop in UK GDP, according to Bloomberg Economics. (2) An ECB policymaker says rate hikes could end this year. (3) Research by the Institute for Public Policy Research suggests the UK is suffering from a £560 billion investment gap. (4) The US and China agree to keep talking after Blinken's trip to Beijing. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Blinken becomes the most senior US official to visit China in five years. (2) The FCA is said to restrict Odey Asset Management transactions. (3) The UK government comes under pressure over rising rates. (4) The UBS CEO hints of a "massive downsizing" of Credit Suisse's investment banking business.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 for you in the coming week including Fed Chair Jay Powell heads to Capitol Hill, plus, key hearings coming on Fed nominees, decision day coming for the Bank of England, and India's Prime Minister heads to Washington while Russia is front and center. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The UK's Deputy Prime Minister tells us the government won't be distracted by Johnson. (2) The European Central Bank Hikes again as Lagarde says more work is needed. (3) Deutsche Bank warns trading revenue could be down by as much as 20% this quarter. (4) Henry Kissinger says China and the US are on a path towards conflict over Taiwan. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) China's central bank ramps up rate cuts as the economy weakens. (2) Jerome Powell says there is near consensus on the need for 'some' further Fed hikes. (3) Citigroup's CFO warns job losses will cost the bank $400 million. (4) And WE Soda scraps it's London IPO, citing "extreme investor caution".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 GDP finally exceeds pre pandemic levels for the first time (2) The BOE Governor laments slowly cooling inflation and labor hording. (3) The Fed prepares for a pause, but have rates also peaked? (4) Trump argues he had the right to take classified documents. 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 Fed prepares for a pause, but have rates also peaked. (2) The Bank of England Governor laments slowly cooling inflation and labor hoarding. (3) Trump argues he had the right to take classified documents. (4) Report finds a 'startling' lack of female CEOs in UK retail.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Unemployment unexpectedly drops as wages surge, creating another headache for the BOE. (2) Silicon Valley Bank UK has been rebranded as HSBC Innovation Banking; we hear from the CEO. (3) The boss of Barclays tells us an exodus of top bankers was driven by a decision to refocus the business. (4) Goldman Sachs International CEO tells Bloomberg the bank is ending its relationship with Odey Asset Management. (5) ARM looks to Intel as an anchor investor for its US IPO. 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 boss of Barclays tells us an exodus of top bankers was driven by a decision to refocus the business. (2) Goldman Sachs International CEO tells Bloomberg the bank is ending its relationship with Odey Asset Management. (3) Citi warns traders are underestimating how much US inflation will drop ahead of today's CPI print. (4) ARM looks to Intel as an anchor investor for its US IPO. See omnystudio.com/listener for privacy information.

Some of the world's biggest companies are highlighting the deteriorating investment climate in the UK. An investigation by the Bloomberg has found business leaders believe the government has failed to meet the twin challenges of Brexit and the foreign subsidies arms race. Martha Lane Fox, President of the British Chambers of Commerce, tells Bloomberg Radio's Caroline Hepker the UK is in the midst of a "people's crisis". Wary of talking ourselves "into a dark spot", she says businesses are holding their breath, waiting for more certainty and clarity.Britain’s Post-Brexit Policy Drift Alarms World’s Executives: https://www.bloomberg.com/news/features/2023-06-11/brexit-hurts-uk-investment-appeal-hasn-t-reduced-tax-or-regulation-execs-say?srnd=premium-ukSee omnystudio.com/listener for privacy information.

Some of the world's biggest companies are highlighting the deteriorating investment climate in the UK. An investigation by the Bloomberg has found business leaders believe the government has failed to meet the twin challenges of Brexit and the foreign subsidies arms race. Archie Norman, Chairman of Marks & Spencer, speaks to Bloomberg Radio's Caroline Hepker about the relationship between business and government post-Brexit. He says the UK government needs a profound industrial strategy to help the country compete on the world stage.Britain’s Post-Brexit Policy Drift Alarms World’s Executives: https://www.bloomberg.com/news/features/2023-06-11/brexit-hurts-uk-investment-appeal-hasn-t-reduced-tax-or-regulation-execs-say?srnd=premium-ukSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Business leaders tells us the government has failed to meet the twin challenges of Brexit and the foreign subsidies arms race. (2) 167 years of independence come to an end -- UBS finalizes it takeover of troubled rival Credit Suisse. (3) Odey Asset Management removes its founder following fresh assault allegations. (4) Boris Johnson quits parliament and the former Scottish First Minister Nicola Sturgeon is arrested. See omnystudio.com/listener for privacy information.

Some of the world's biggest companies are highlighting the deteriorating investment climate in the UK. An investigation by the Bloomberg has found business leaders believe the government has failed to meet the twin challenges of Brexit and the foreign subsidies arms race. Former London Stock Exchange CEO Xavier Rolet tells Bloomberg’s Caroline Hepker that now is the time for thoughtful, radical reform. He wants the UK and Europe to prioritise equity to help fund businesses, rather than favouring bank lending. Britain’s Post-Brexit Policy Drift Alarms World’s Executives: https://www.bloomberg.com/news/features/2023-06-11/brexit-hurts-uk-investment-appeal-hasn-t-reduced-tax-or-regulation-execs-say?srnd=premium-ukSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking for you in the coming week including decisions from the Federal Reserve and the Bank of Japan, plus Treasury Secretary Janet Yellen heads to Capitol Hill, and, why tech is going to be in focus in Europe in the coming 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) The world's biggest banks pull back from hedge fund manager Crispin Odey. (2) Donald Trump is charged over his refusal to return classified documents. (3) Sunak secures Biden's backing on AI and agreements for closer economic cooperation. (4) Citi dismantles its foreign-exchange strategy team. 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 Prime Minister engages in Baseball Diplomacy on US trip. (2) Ray Dalio warns that the US is at the start of a debt crisis. (3) The UK's financial watchdog tightens crypto marketing rules. (4) Kim Kardashian draws a crowd with her private equity pitch.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 PM Rishi Sunak heads to the Washington for talks with President Biden. (2) Ukraine's Economy Minister tells Bloomberg Russia is to blame for destroying a key dam. (3) The SEC accuses Coinbase of running an illegal exchange. (4) PGA agrees to merge with LIV, creating a global golf superpower.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 launches a three and a half thousand dollar mixed reality headset. (2) The SEC accuses Binance of being "engaged in an extensive web of deception". (3) Russia and Ukraine engage in fierce front line fighting. (4) Tech firms warn the UK is losing its business allure.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Oil surges as Saudi Arabia goes it alone with a one million barrel supply cut. (2) Reports from the WSJ suggest the US could raise capital requirements by 20% for large lenders. (3) The UK widens its lead as Europe's favored destination for FDI in the financial sector. (4) Morgan Stanley warns a 16% drop in US profits will kill the American equity rally. (5) Workers tell Bloomberg that ending hybrid working is a deal breaker. See omnystudio.com/listener for privacy information.

June is Pride Month, dedicated to celebrating LGBT+ communities. To mark this, Daybreak Europe brought together four people in the early stages of their careers in finance, law and engineering. They spoke to Stephen Carroll about how they navigate their identity at work and why inclusive leadership matters.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 for you in the coming week, including a preview of Apple's WWDC, UK Prime Minister Rishi Sunak's trip to Washington, Japan's latest GDP and some new entries into 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) Congress passes a deal on the debt ceiling, ending the risk of a default. (2) Goldman flags a 25% drop in trading revenue as job cuts loom. (3) JP Morgan CEO Jamie Dimon heads to Taiwan after a high-profile trip to China. (4) Former Labour Leader Neil Kinnock tells us Starmer won't need a coalition. 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 House of Representatives avoids theatrics and passes the debt limit bill. (2) Fed officials call not for a pause, but for a skip on the next interest rate hike despite a surge in job openings. (3) The former Bank of England rate setter Michael Saunders tells us the worst is yet to come for the UK economy. (4) As Pride month begins, we speak to City workers about navigating their LGBT+ identities in the office. See omnystudio.com/listener for privacy information.

Jamie Dimon is in Shanghai for JPMorgan's China summit. It's the first time the bank's flagship event is being held in person since 2019. Bloomberg News sat down for a wide-ranging, exclusive interview with the JPMorgan CEO. Here is his interview with Bloomberg's Stephen Engle. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Jamie Dimon tells us the US will trade less with China, but still needs a relationship. (2) The US debt ceiling bill clears first Congressional hurdle ahead of a vote today. (3) UK business confidence falls for the first time in three months (4) Nvidia touches a 1 trillion dollar market cap after beating rivals to the AI boom. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Joe Biden and Kevin McCarthy lobby lawmakers to pass their debt ceiling deal (2) Britain's shops see yet another inflation record (3) Spain's Prime Minister Pedro Sanchez calls an early election after heavy regional losses. (4) Elon Musk is expected to visit China this week for the first time in three years. See omnystudio.com/listener for privacy information.

Klarna was once Europe’s most valuable startup. It offers buy now, pay later credit for about 150 million shoppers globally looking to spread the cost of online purchases. The company has targeted expansion in the US after raising $800 million last year. That process saw its valuation slashed to $6.7 billion from about $45.6 billion as inflation and higher rates pressured its business model. CEO Sebastian Siemiatkowski joined Bloomberg's Caroline Hepker, Tom Mackenzie and Leigh-Ann Gerrans to discuss everything from the investment landscape to how AI is changing the business.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 for you in the coming week, including a preview of the US May Jobs Report, a look inside to the Treasury Department's Payment Structure as Congress continues their debt ceiling standoff, what China's PMIs is telling us about China's economic recovery, and why ECB bankers are looking forward to the upcoming inflation data. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) The Chancellor says he's in favour of higher rates even if it causes a recession. (2) A US debt deal begins to take shape as the Treasury gets down to its last $50bn. (3) Asset managers attack a plan to force pensions into a UK growth fund. (4) Cathie Woods's flagship ARKK Fund sold Nvidia stake just before the stock surged. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) Fitch considers cutting America's AAA rating as a debt default looms. (2) UK borrowing costs soar, leaving Sunak and Bailey with little room for manoeuvre. (3) Fed officials lean towards skipping a June rate hike. (4) Nvidia shares skyrocket on AI processor forecast. See omnystudio.com/listener for privacy information.

Chancellor-In-Waiting Rachel Reeves On Her Plan For A More Activist State Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Labour Shadow Chancellor Rachel Reeves pitches a supply-side intervention.(2) A US debt deal remains elusive with the two sides in a standoff.(3) The Bundesbank President says 'several' more ECB hikes will be needed.(4) LVMH stock rout wipes $11 billion off Bernard Arnault's fortune.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Jamie Dimon warns rates could hit 7% as Fed hawks say more hikes are needed(2) Biden and McCarthy say a default is off the table, but fail to agree a deal(3) JPMorgan expects investment banking and market revenue to drop by 15%.(4) Carl Icahn speaks to Bloomberg after a Hindenburg Research report leaves him $15 Billion poorer.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) China bans Micron semiconductors as their chips battle with the US heats up.(2) US debt ceiling talks restart ahead of a Biden-McCarthy sit down.(3) The Fed's Kashkari says he's open to a temporary rate pause.(4) Property sellers up prices, but is anyone buying?See omnystudio.com/listener for privacy information.