Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Nigel Farage’s Reform UK has won a key parliamentary by-election following a recount, in a blow to Prime Minister Keir Starmer, fueling concerns in his Labour Party that he’s failing to slow the rise of the populist right.(2) China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.(3) Japan aims to achieve a trade agreement with the US in June, with the high-stakes bilateral discussions expected to gain momentum in mid-May, Tokyo’s chief negotiator said after concluding the latest round of talks in Washington.(4) Apple’s much-awaited quarterly earnings report failed to soothe investor concerns about its biggest challenges, including escalating tariff costs and a slowdown in China.(5) Amazon said it’s bracing for a tougher business climate in the coming months, echoing concerns from a range of companies that tariffs and related economic turmoil could crimp consumer spending.(6) President Donald Trump said he will nominate Michael Waltz, his current national security adviser, to be the next US ambassador to the UN, sidelining a top aide who drew a wave of criticism for inadvertently adding a journalist to a Signal group chat where officials discussed sensitive attack plans.Podcast conversation:Not to attack Gen Z… but…this about Fake zoom meetings is brilliant Gen Z’s Social Tank Is Running on Empty: Opinion WrapSee 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 Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared that President Donald Trump would pull back his support in peace talks with Russia. (2) Meta quelled Wall Street concerns about the impact of the Trump administration’s trade war on advertising sales, reporting first-quarter revenue that beat expectations and forecasting additional spending. (3) President Donald Trump acknowledged that his sweeping tariff program had risked imperiling him politically, but said he would not rush deals to appease nervous investors during a town hall on Wednesday. (4) The European Union is planning to share a paper with the US next week that will set out a package of proposals to kick-start trade negotiations with the Trump administration. (5) Microsoft shares jumped after the company reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of tariffs and economic turbulence. (6) The Swedish furniture chain IKEA operates in more than 60 countries worldwide, including a significant presence in the United States.The CEO of the Ingka group - which operates most of IKEA's stores - has been speaking to Bloomberg about how they're adapting to the tariff uncertainty. Podcast conversation: What Meta Really Means About ‘Worse’ European Service: Dave LeeSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) President Donald Trump renewed criticism of Federal Reserve Chairman Jerome Powell as he championed his economic policies and tariff regime during a Tuesday event to mark his 100th day in office. (2) Trump also said China deserved the steep tariffs he imposed on their exports and predicted Beijing could find a way to reduce their impact on American consumers. (3) The European Union has made tangible offers to Donald Trump’s administration in an effort to return stability to the global economy, according to the bloc’s commissioner for international partnerships. (4) Companies around the world including carmakers, brewers, airlines and packaged food makers are sounding a warning that US President Donald Trump’s import tariffs are beginning to wreak havoc on their businesses (5) Switzerland risks missing out on lucrative contracts due to its policy of neutrality as European nations rearm in the face of Moscow’s aggression and tensions with the US. (6) Drugmaker Astrazeneca has told us it is seeing no particular benefit from the UK government's focus on economic growth. The company abandoned a planned £450 million investment in the UK at the start of this year. Podcast conversation: Controversial Arctic Parcel of Land May Sell for €300 MillionSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war. (2) Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day. (3) HSBC unveiled a fresh buyback for shareholders despite an increasingly fragile geopolitical backdrop that has weighed on the global economy and markets. (4) Deutsche Bank’s trading unit hit a record in the first quarter as the lender benefited from market volatility. (5) President Donald Trump is on track to ease the impact of his auto tariffs, with changes sought by the industry that would lift some levies on foreign parts for cars and trucks made inside the US. (6) China’s top diplomat warned countries against caving in to US tariff threats, as the Trump administration hints at the possible use of new trade tools to pressure Beijing. Podcast conversation: When Spain disappeared off the grid, millions rediscovered the joys of analogue technology. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Foreign investors who bought US stocks and dollars are facing significant losses due to the decline in the S&P 500 and the dollar's value. (2) President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. (3) The UK economy will grow half as quickly as previously expected in 2026 as Donald Trump’s sweeping tariffs hit business investment, according to EY Item Club. (4) Canada’s next prime minister is set to inherit a half-year of flat economic growth, economists predict, as people take to the polls on election day. (5) Eleven people were killed in Vancouver and dozens were injured after a driver plowed into a large crowd at a street festival on Saturday evening, according to police. (6) Private equity firms are scouring for investment opportunities in European defense - chasing a sector that was once seen as toxic, driven by a historic shift toward increased military spending. Podcast conversation: Did We Finally Find Life on Another Planet?See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the April jobs report and big tech earnings. In the UK – a look ahead to local elections. In Asia – a look ahead to China PMI 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) Donald Trump’s tariffs and a barrage of rising domestic bills sent UK household confidence to its lowest level since the Labour government came to power.(2) President Donald Trump said his administration was talking with China on trade, after Beijing denied the existence of negotiations on a deal and demanded the US revoke all unilateral tariffs.(3) Treasuries jumped after comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June.(5) Google parent Alphabet reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.(6) The US will demand that Russia accept Ukraine’s right to develop its own, adequately equipped, army and defense industry as part of a peace agreement, according to people familiar with the matter, pushing back on Russia’s insistence that the country largely demilitarize as a condition to end the war.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Confronted with fresh warnings from financial markets, business leaders and top advisers, President Donald Trump this week eased off on two of his frequent punching bags: Jerome Powell and China.He turned down his aggressive rhetoric a day after meeting with executives from Walmart Inc., Home Depot Inc. and Target Corp., who said import taxes could disrupt supply chains and raise the prices of goods, according to people familiar with the matter (2) Citadel founder Ken Griffin said President Donald Trump’s trade war has derailed business leaders’ plans to spend the next four years focusing on growth.Griffin had previously criticized Trump’s tariffs even though he said he agrees with the president’s assessment of the issues that the US faces. (3) President Trump has mused that he could announce tariff rates for countries, including China, “over the next two to three weeks.” At the same time, Trump said the deadline would ultimately depend on whether China engaged. (4) The UK isn’t in a hurry to strike a deal with the US that lowers the tariffs President Donald Trump’s administration has slapped on British imports, Chancellor of the Exchequer Rachel Reeves said, highlighting that Britian is prepared to stand by red lines on safety standards. (5) BNP Paribas SA reported record income from equities trading as the French lender rode the global market volatility in the first quarter of this year. The French lender on Thursday reported a 42% surge in equities trading revenue to €1.19 billion ($1.35 billion) in the three months through March, beating even the most optimistic analyst estimate. It was also the highest in data compiled by Bloomberg and going back to 2007. (6) Companies moving office in London last year leased more expansion space than they have done since 2019, just the year before the coronavirus pandemic upended white-collar working practices and sent shock waves through commercial real estate markets. (7) Podcast conversation: Gyms Might Never Be the SameSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.(2) US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.(3) Federal Reserve Governor Adriana Kugler said tariffs will likely put upward pressure on prices and have a bigger economic effect than previously expected.(4) The head of International Monetary Fund warned that the chances of global recession will rise if uncertainty over a US-led trade war continues to drag.(5) UK Chancellor of the Exchequer Rachel Reeves will make a personal appeal for a trade deal to US Treasury Secretary Scott Bessent in Washington this week, aiming to “defend British interests” and secure preferential treatment on tariffs.(6) Elon Musk vowed to pull back “significantly” from his work with the US government to concentrate on Tesla, easing concerns of investors who lamented his time in Washington as a distraction.(7) Podcast conversation: Unwind Like a BossIllustration: Bloomberg/GettySee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell.(2) Stocks and bonds fluctuated, and a gauge of the dollar headed for a fourth day of losses as little progress in tariff negotiations and growth concerns about the US prompted investors to pare bets in a volatile market.(3) Bloomberg Economics estimates President Trump's "liberation day" tariffs will shave about $2 trillion off global output by the end of 2027, relative to a scenario where border taxes had stayed unchanged. Policy uncertainty (it's still not clear where tariffs will settle) and modelling uncertainty (the shocks have no precedent in the post World War II data) mean the error band around that forecast is wide.(4) The US set new duties as high as 3,521% on solar imports from four Southeast Asian countries, delivering a win for domestic manufacturers while intensifying headwinds already threatening the country’s renewable power development.(5) The College of Cardinals will meet in Conclave in about two weeks to elect Francis' successor, with about 135 cardinals having the vote. The election could threaten Francis' legacy as a reforming pope, as the church could swing away from his positions on issues such as LGBTQ rights.(6) Podcast conversation : Building a Better ManosphereSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to home sales data and Tesla earnings. In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market. In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs. See omnystudio.com/listener for privacy information.

(1) US investors could be forced to offload around $800 billion of Chinese equities “in an extreme scenario” of financial decoupling between the world’s two largest economies, Goldman Sachs Group Inc. estimates.(2) The Trump administration is preparing to pressure nations to curb trade with China in negotiations over US tariffs, according to people familiar with the matter. (3) Federal Reserve Chair Jerome Powell again stressed the central bank must ensure tariffs don’t trigger a more persistent rise in inflation. Powell said policymakers would balance their dual responsibilities of fostering maximum employment and stable prices. (4) Economic data just confirmed what anecdotal evidence had suggested: Consumers are rushing to make major purchases of cars, electronics and appliances in an attempt to get ahead of tariffs that could raise prices. (5) Gold hit another all-time high as warnings from Federal Reserve Chief Jerome Powell about the impact of the trade war fueled volatility on Wall Street, leading to sharp declines in stocks and the dollar.(6) Vladimir Putin has ordered his government to draw up a new legal framework for companies seeking to invest in Russia. It’s the most concrete sign yet that Moscow is preparing for a day when it believes sanctions will be lifted and some investment welcomed back. But, said one Kremlin official, “nobody is knocking on the door yet” underlining the tentative nature of the approaches taken by companies — some of whom never fully left — to restoring their operations in the country, as US President Donald Trump pushes for a deal to end Russia’s war in Ukraine.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) China’s economy showed surprising strength in early 2025 with a sharp uptick in March, though a trade impasse with Donald Trump has prompted calls for stimulus to offset the tariff shock. (2) President Donald Trump called on China to reach out to him in order to kick off negotiations aimed at resolving the escalating trade fight between the world’s two largest economies. (3) President Donald Trump’s administration has barred Nvidia from selling its H20 chip to China, an escalation of Washington’s tech battle with Beijing that will cost the company billions of dollars and hamstring a product line it explicitly designed to comply with previous US curbs. (4) Import prices for March came in soft – but not soft enough. Bloomberg Economics's calculations of tariff-inclusive import prices indicate that, two months into Trade War 2.0, US importers have borne the brunt of almost all the tariffs so far. (5) Americans are increasingly looking for jobs in Britain amid President Donald Trump’s funding cuts and a darkening economic outlook. (6) Donald Trump's push to reshape global trade and security has shocked European markets into life, driving investors to assets from stocks to bonds and the euro, in a way few could have imagined even 6 months ago.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 president has been very clear that he’s willing to talk to his counterpart,” US Trade Representative Jamieson Greer tells Fox News about Donald Trump and Chinese leader Xi Jinping.(2) President Donald Trump’s administration pressed forward with plans to impose tariffs on semiconductor and pharmaceutical imports by initiating trade probes led by the Commerce Department. (3) Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation that foreign nations were dumping their holdings of US Treasuries, while flagging that his department has tools to address dislocation if needed.(4) European Commissioner for Trade and Economic Security Maros Sefcovic met with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer today in DC, “seizing the 90-day window for a mutual solution to unjustified tariffs,” he says in a post on X. (5) UK households increased their spending in March as consumer demand defied an imminent rise in household bills, according to reports from the British Retail Consortium and Barclays.(6) The Trump administration followed through on its threat to pull federal funding from Harvard University hours after the oldest and richest US college refused to agree to a list of government 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) President Donald Trump pledged he will still apply tariffs to phones, computers and popular consumer electronics, downplaying a weekend exemption as a procedural step in his overall push to remake US trade. (2) Strategists at Goldman Sachs Group cut their targets for key Chinese stock indexes for a second time this month, citing heightened trade tensions with the US. (3) The dollar fell for a fifth day as traders looked past a reprieve on the imposition of certain electronic tariffs and after President Donald Trump downplayed his exemption for the technology sector. (4) Treasuries gained after last week’s rout as President Donald Trump paused import duties on a range of consumer electronics. Investors also await speeches from Fed officials Christopher Waller and Patrick Harker. (5) British companies’ finance chiefs had adopted their most defensive positions since the pandemic even before US President Donald Trump’s tariffs sent global markets into a tailspin. (6) UK officials are rushing to secure the raw materials needed to keep Britain’s last primary steel manufacturer running, with other businesses offering to provide help.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S Retail sales and earnings from Netflix. In the UK – a look ahead to next week’s ECB meeting. In Asia – a look ahead to earnings from TSMC. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Less than 24 hours after President Donald Trump backtracked on his once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar yet again as fears of a worldwide recession engulfed Wall Street.(2) The dollar extended losses after its biggest plunge in three years, with the cost of hedging against further slides climbing to the highest since the Covid pandemic shuttered cities in early 2020.(3) President Donald Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the White House clarified US tariffs on China rose to 145%.(4) Top European Union officials are making plans to visit China for a meeting with President Xi Jinping, the South China Morning Post reported — a sign Brussels may be keen to develop better ties with Beijing amid the Trump administration’s tariff onslaught.(5) Federal Reserve Bank of Chicago President Austan Goolsbee said tariffs are a “stagflationary shock” and they pit the central bank’s goals of price stability and full employment against one another.(6) A sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot.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 Donald Trump announced a 90-day pause on higher tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%. (2) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the globe into disarray, he backpedaled and, in the process, pulled the financial system back from the brink. (3) China’s top leaders are poised to meet Thursday to discuss additional economic stimulus after US President Donald Trump ratcheted up tariffs, according to people familiar with the matter. (4) President Donald Trump called the bond market a thing of beauty on Wednesday. For traders of government debt, the day meant pure mayhem. (5) The murmurs spread quietly at first, then exploded into a roar as the news hit — President Donald Trump was pausing the bulk of his tariffs and putting his global trade war on hold. Mostly. (6) The UK housing market is in danger of being “blown off course” by US President Donald Trump’s trade war, estate agents warned after activity weakened sharply last month.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 Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with US allies, but his insistence on pushing forward with 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.(2) Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks, and reiterated his optimism about the growth of the world’s second-largest economy in 2025, despite the latest tariff threat from US President Donald Trump.(3) For the better part of a day, it seemed as if the panic that Donald Trump’s trade war unleashed had largely subsided as US equities built on strong rallies in Asia and Europe.(4) President Donald Trump’s steeper-than-expected tariffs have traumatized financial markets and triggered recession fears all over the world.(5) President Donald Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.(6) “We are going to be announcing very shortly a major tariff on pharmaceuticals,” President Donald Trump says at a National Republican Congressional Committee Dinner.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 pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies. (2) Japan looks set to get priority in US tariff talks, moving to the front of a long line of countries seeking to roll back President Donald Trump’s so-called reciprocal duties, which are scheduled to kick in on Wednesday. (3) President Donald Trump threatened to slap China with an additional 50% import tax, while Washington and Wall Street remained engulfed in confusion about how to gain exceptions from his sweeping global tariffs. (4) At just after 10 a.m., shouting erupted on the Siebert trading floor in downtown Manhattan. Mark Malek, the firm’s chief investment officer, rushed out of his office to hear his head trader screaming that President Donald Trump was weighing suspending the across-the-board tariff roll-out that had been sinking stock markets for days. (5) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration. (6) European Union trade ministers closed ranks and signaled readiness to deploy a full spectrum of countermeasures including potential taxes on digital companies in response to US President Donald Trump’s sweeping tariffs.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) European stocks plunged, dropping to the lowest since December 2023 on the back of Donald Trump’s tariff announcements, with Germany’s DAX Index falling as much as 10%. (2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon. (3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday. (4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos.(5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs.(6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on 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) A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump’s tariffs deepened after China announced retaliatory measures.(2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.(3) China’s objections to new US tariffs stalled a deal to sell off TikTok and keep it operating in the US, President Donald Trump said Sunday.(4) Bill Ackman and Stanley Druckenmiller slammed President Donald Trump’s decision to launch expansive global tariffs, which have plunged markets into chaos.(5) UK Prime Minister Keir Starmer said he’ll announce measures this week to support Britain’s economy and businesses amid the threat posed by Donald Trump’s tariffs.(6) Finance ministers from Italy and Spain cautioned against too aggressive a response to US President Donald Trump’s tariffs, underscoring the European Union’s divide on the matter.See omnystudio.com/listener for privacy information.

As dozens of countries worldwide have held national elections in the past year, a new global agenda has emerged that is focused more on trade and taxes, and less on environmental and cultural issues. That’s the conclusion of the first edition of the CEO Radar—a new tool that explores the leading topics discussed on almost 4,700 earnings calls worldwide in Q4 2024, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this first episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by Christoph Schweitzer, CEO of BCG, and Judith Wallenstein, head of BCG’s CEO advisory practice, to unpack the stories behind the data, based on their one-on-one conversations with CEOs.This episode is sponsored by BCG.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 – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted. In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system. In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Asian shares fell to the lowest level in two months, extending a global selloff in stocks after President Donald Trump’s latest tariff measures drove investors into haven assets.(2) All across the world, as sell orders lit up screens on trading floors from Tokyo to London and New York, a sobering reality took hold: Donald Trump is serious about upending the global trading system — and it appears, at least for now, that fears of a stock-market crash won’t stop him.(3) President Donald Trump’s big tariff rollout was supposed to reduce uncertainty for businesses. Economists say it did the exact opposite, while also raising recession risk.(4) President Donald Trump said he was open to reducing his tariffs if other nations were able to offer something “phenomenal,” indicating that the White House was open to negotiations despite the insistence of some top officials.(5) French President Emmanuel Macron was quick to respond to US President Donald Trump’s punitive tariffs on the European Union by urging businesses in the world’s largest trading bloc to halt spending on the US.(6) US officials have told their UK counterparts they’ll discuss Britain’s proposal to reduce tariffs below 10%, but warned them President Donald Trump may decide that number is his permanent baseline for all countries, according to British officials 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) President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth.(2) An aggressive suite of tariffs announced Wednesday by President Donald Trump will significantly complicate the Federal Reserve’s job as it struggles to quash inflation and avoid an economic downturn, likely keeping officials in wait-and-see mode.(3) China vowed to retaliate after being hit with Donald Trump’s biggest tariffs yet, which threaten to decimate trade between the world’s largest economies.(4) The European Union is preparing a package of potential emergency measures to support parts of its economy that could be hit the hardest by US President Donald Trump’s sweeping tariffs, according to people familiar with the matter.(5) The UK refrained from retaliation and said it would maintain its push for a US trade deal after President Donald Trump slapped tariffs of 10% on all imports from Britain as part of a wider global package which he dubbed “Liberation Day” for his country.(6) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.(7) President Donald Trump announced a significant increase in tariffs on imports from the US's trading partners, sparking a rapid and painful market impact.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 Donald Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil on Wednesday afternoon.(2) Federal Reserve Bank of Chicago President Austan Goolsbee warned of the negative consequences of any slowdown in consumer spending or business investment due to tariff-related uncertainty.(3) The UK government is bracing for US tariffs set to be outlined this week by President Donald Trump to hit the British economy, even as the two governments continue talks on a potential carve-out.(4) The White House is preparing an estimate of what it would cost the federal government to control Greenland as a territory, the most concrete effort yet to turn President Donald Trump's desire to acquire the Danish island into actionable policy.(5) Elon Musk’s candidate faced a resounding loss in a Wisconsin judicial race despite the world’s richest man pouring millions into the campaign, while Republicans avoided upsets in two critical US House seats in Donald Trump’s home state of Florida.(6) As US President Donald Trump prepares to launch a new wave of levies aimed at reducing America’s trade deficits and bringing manufacturing back to home soil, pharmaceuticals are high on the list of 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) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said.(2) US automakers are making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.(3) French far-right leader Marine Le Pen lashed out at the decision to bar her from running for elected office for five years, saying it effectively eliminated her from the 2027 presidential race.(4) The rising price of store cupboard staples and alcoholic drinks has lifted UK food inflation to a nine-month high, as the country’s Labour government faces growing political pressure over living costs.(5) A fight over UK motor finance and whether lenders should be on the hook for billions of pounds in compensation will play out at the Supreme Court in one of the most highly-anticipated hearings in 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) Global equities sold off for a fourth day as concerns about the economic impact of the trade war intensified before Donald Trump unveils more tariffs this week. (2) Japan’s blue-chip Nikkei 225 Stock Average slumped to enter a technical correction as exporter- and chip-related stocks slid on concerns about the global trade war. (3) President Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. (4) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs. (5) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth.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 Donald Trump said he plans to start his reciprocal tariff push with “all countries,” tamping down speculation that he could limit the initial scope of tariffs set to be unveiled April 2. (2) UK Prime Minister Keir Starmer held “productive” discussions about “an economic prosperity deal” on a call with US President Donald Trump Sunday evening ahead of a crunch week in which the government hopes to carve out exemptions from looming US tariffs. (3) Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as President Donald Trump’s tariffs weigh on economic growth. (4) Global equities sold off for a fourth day ahead of President Donald Trump unveiling a fresh round of tariffs and mounting concerns about economic impact from a global trade war. (5) This was a historic quarter for European stocks. Investors are now wondering if there will be an encore. Doubts have grown around the US exceptionalism trade due to uncertainty from Donald Trump’s tariff policies and government job cuts — and Europe is emerging as a beneficiary. (6) Major players in the foreign exchange market are concerned about a potential system-wide crisis due to a "liquidity mirage" that creates the illusion of market depth, while actual liquidity is drained away.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 US March jobs and a look at the potential impact of auto tariffs. • In the UK – an assessment of NATO's position amid growing global tensions.• In Asia – a preview of the Reserve Bank of Australia's next rate decision. See omnystudio.com/listener for privacy information.

On today's podcast:(1) The US is pushing to control all major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv’s other allies and undermining its bid for European Union membership.(2) Federal Reserve Bank of Boston President Susan Collins said it looks “inevitable” that tariffs will boost inflation, at least in the near term, adding it’s likely appropriate to keep interest rates steady for longer. (3) Donald Trump has piqued European leaders’ interest in currency markets. After the euro jumped against the dollar, French president Emmanuel Macron quizzed central bank chief Christine Lagarde on the outlook for the exchange rate in private conversations in Brussels last week, according to people briefed on the discussions.(4) UK Chancellor of the Exchequer Rachel Reeves boasted on Wednesday that she had restored her fiscal buffer to £9.9 billion ($13 billion). A day later, she had lost half of it. (5) Elon Musk, the billionaire running President Donald Trump’s federal cost cutting effort, said he plans to slash $1 trillion in government spending by the end of May.(5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.See omnystudio.com/listener for privacy information.

President Donald Trump signed a proclamation to implement a 25% tariff on auto imports, which will come into effect on April 3, initially targeting fully assembled vehicles. Trump also suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US, and threatened levies on lumber, semiconductors, and pharmaceutical drugs. The tariffs are expected to raise prices of foreign-made cars, and even US-made vehicles may see price increases if supplies and parts are hit by levies or if supply chains are cut off from manufacturing in lower-cost countries. In this bonus episode of the Bloomberg Daybreak Europe Podcast Caroline Hepker and Stephen Carroll get the thoughts of our EMEA News Director Ros Mathieson and our Markets Live Executive Editor Mark Cudmore as well as hearing from Carl Tannenbaum, Chief Economist at Northern Trust.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 Donald Trump signed a proclamation to implement a 25% tariff on auto imports, expanding a trade war designed to bring more manufacturing jobs to the US and setting the stage for an even broader push on levies next week. (2) The European Union expects the US to apply a double-digit tariff rate across the bloc when President Donald Trump announces a sweeping package of so-called reciprocal duties on April 2. (3) Across Wall Street, the world’s leading mergers and acquisitions advisers are sounding the alarm: the Donald Trump-driven deals boom they’d all been dreaming of isn’t happening yet. (4) UK Chancellor Rachel Reeves did the minimum to preserve her credibility with markets by restoring her fiscal buffer to exactly where it was in October. In doing so, she ensured she would remain a hostage to fortune for months to come. (5) European leaders are trying to carve out a role for themselves in US-led ceasefire talks over Russia’s war in Ukraine as more than 30 of them gather Thursday for an impromptu defense summit in Paris.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Chancellor of the Exchequer Rachel Reeves will blame global economic headwinds as she slashes UK government spending by billions of pounds, in the face of growing criticism from within her own Labour Party that she risks alienating voters.(2) Fresh doubts over the accuracy of Britain’s official data have been raised by economists, who warned that the problems first seen in the labor market figures are “just the tip of the iceberg.”(3) The US said Russia and Ukraine agreed to a ceasefire in the Black Sea, even as the Kremlin said its involvement would depend on a series of preconditions, including sanctions relief.(4) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz.(5) President Donald Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners. 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 Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks.(2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariffs.(3) US and Russian officials met in Saudi Arabia for about 12 hours a day after American and Ukrainian teams held talks, as President Donald Trump pushes for progress in achieving a ceasefire in the war.(4) HSBC is considering outsourcing part of its sprawling trading business as executives struggle to justify making technology investments needed to keep up with larger rivals. (5) Britain needs a technological breakthrough such as artificial intelligence to counter the collapse in its long-term growth rate, Bank of England Governor Andrew Bailey said in a lecture at Leicester University.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 and European stock-index futures climbed on signs that the next round of President Donald Trump’s tariffs may be more measured than previously suggested.(2) The UK government is weighing plans to reduce or even abolish its digital services tax before April 2 in an effort to avoid the worst of US President Donald Trump’s trade tariffs.(3) Mark Carney began his bid for election with a stark warning that US President Donald Trump is serious about wanting to annex Canada, launching his effort to convince Canadians he can protect the country from US aggression.(4) Turkey formally arrested President Recep Tayyip Erdogan’s main political rival, a decision likely to trigger more market turmoil and protests across the country.(5) Ukrainian and US officials held talks in Riyadh, resuming efforts to end Russia’s full-scale invasion as President Donald Trump pushes for a ceasefire.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 PCE data, along with a look at the impact of tariffs on housing. In the UK – a preview of UK Chancellor Rachel Reeves’ spring statement. In Asia – a preview of Chinese EV Maker BYD’s 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) London’s Heathrow airport will close all day Friday after a nearby fire caused a major power outage, throwing one of the world’s busiest airports and the travel plans of hundreds of thousands of people into chaos.(2) European Union leaders tussled over weapons deliveries to Kyiv and who would represent them in US-led diplomacy as the bloc struggled to formulate a strategy on Ukraine.(3) Bank of England Governor Andrew Bailey urged his rate-setting colleagues to tread carefully after the central bank held policy steady in the face of a turbulent global backdrop.(4) Turkey’s central bank raised one of its key interest rates in a surprise meeting on Thursday, the latest move by authorities to reverse a decline in the lira.(5) Israel’s cabinet approved Prime Minister Benjamin Netanyahu’s decision to fire the country’s domestic intelligence chief, defying thousands of protesters who rallied against his removal and those of other security and judicial officials.(6) The UK’s richest are set to unleash their savings to splash on luxury goods, cars or tech, a report showed, in signs that lower interest rates are boosting demand.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) For weeks the US economic picture has been darkening. If Wednesday was an opportunity for Federal Reserve Chair Jerome Powell to raise the alarm, he took a hard pass. (2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. (3) Research by Bloomberg Economics shows that China has roughly managed to maintain its share of global exports despite a big drop in its share of total US imports since Trump’s first term. Emerging markets are facing a so-called 'China shock', as cheap goods arrive in developing countries. (4) The Bank of England is likely to turn less dovish on Thursday as officials start to fret about the fallout from Donald Trump’s tariff wars and a renewed bout of domestic inflation. (5) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago. (6) Major changes to UK inheritance tax by the Labour government means means wealthy Britons are embracing creative tactics to protect and pass on wealth, espcially businesses, farmland and pensions.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 refused to give Donald Trump the 30-day ceasefire in Ukraine he and his team had demanded on the path toward ending the three-year conflict. It was still good enough for the US president.(2) Morgan Stanley is planning to cut about 2,000 employees later this month in the first major workforce reduction under Chief Executive Officer Ted Pick.(3) German lawmakers passed a landmark spending package, taking a major step toward unlocking hundreds of billions of euros in debt financing for defense and infrastructure and heralding the end of decades of budget austerity. (4) The Bank of Japan signaled growing unease over the potential impact on the global economy from escalating trade tensions, while keeping its key policy rate unchanged.(5) UK Prime Minister Keir Starmer’s move to cut disability benefits sets the scene for a showdown with the left of his governing Labour party as he seeks to prioritize fiscal prudence over social policy.(6) Two NASA astronauts stuck in orbit for nine months finally returned to Earth in a SpaceX craft, capping a saga that captured international attention and deepened America’s reliance on the Elon Musk-led company.(7) In France, rising taxes and political turmoil are having a chilling effect on the financial sector. Since last summer, international banks in Paris have quietly shelved expansion plans, after years of building its role as Europe's post-Brexit financial 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) Rachel Reeves has defended her fiscal rules and pledged to bring down government borrowing, as the UK Chancellor of the Exchequer faces dissent from Labour party colleagues opposed to cuts to welfare payments and government spending. (2) Israel launched a series of military strikes across Gaza, shattering a nearly two-month ceasefire, in response to Hamas's refusal to release hostages and rejection of proposals from the US and mediators. The escalation is the latest sign of renewed conflict in the Middle East. (3) President Donald Trump said the US and Russia are already talking about dividing “assets” as part of a push to end the fighting in Ukraine, the latest sign that he may be preparing to sacrifice Kyiv’s interests when he speaks with Vladimir Putin on Tuesday. (4) German lawmakers will vote on a bill today that would unlock hundreds of billions of euros in debt-financed defense and infrastructure spending and herald a pivot toward a substantially more expansive fiscal policy in Europe’s biggest economy. (5) Two NASA astronauts stuck in orbit for nine months finally departed the International Space Station aboard a SpaceX capsule on Tuesday, kicking off their long-awaited voyage home. Butch Wilmore and Suni Williams, seated inside a Dragon capsule with two other crew members, undocked from the ISS at 1:05 a.m. New York time on Tuesday. The capsule is expected to travel through space, plunge through the atmosphere and ultimately fall to Earth under parachutes before splashing down off the Florida coast around 6 p.m. New York time. See omnystudio.com/listener for privacy information.