Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Congress blew past a midnight funding deadline, triggering the US government’s first shutdown in nearly seven years — and the third under President Donald Trump. (2) US equity-index futures fell as the deadline to avert a government shutdown lapsed, disrupting one of the country’s largest employers and threatening to delay key economic data releases(3) Pfizer has won a reprieve from the US President's threatened tariffs on the pharmaceutical industry. The drugmaker agreed to cut some prices by up to 85% and sell directly to the public in the US. (4) Keir Starmer was battling for his future a week ago. After the retreat of his main Labour rival and his decision to take the gloves off against populist rival Nigel Farage, the UK prime minister’s shored up his standing. (5) Bloomberg's Women, Money & Power convenes the most influential voices from across the global finance industry for the second year to debate and discuss the critical issues facing the future of investing, real estate, consumer banking and private markets, as well as philanthropists, owners and CEOs.Podcast Conversation: Fancy, Fattier $60-a-Pound Butter Is the Latest Must-Have LuxurySee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Vice President JD Vance said he believes the US government is on track to shut down, seeking to pin the blame on Democrats one day before federal funding is set to lapse. (2) President Donald Trump and Israeli Prime Minister Benjamin Netanyahu said they had agreed to a 20-point plan designed to end the war in Gaza, though the prospects for peace remained unclear without the direct involvement of Hamas.(3) Chinese President Xi Jinping is renewing a push for the US to change a decades-old phrase describing its stance on Taiwan independence, a concession that would be a major diplomatic win for Beijing.(4) Theresa May danced to ABBA. Rishi Sunak had his wife introduce him. Liz Truss spent the whole time scrapping budget measures announced only days before.(5) European Union leaders meeting in Copenhagen this week will discuss a slate of flagship defense projects, including a European drone wall and an air-defense shield.Podcast Conversation:How to Play Alphadots, Bloomberg's New Daily Word PuzzleSee 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 can be sure the bond markets have her back. But on Monday she faces down her own party, and she may find them tougher to win over.(2) The government is set to define what “contributions” foreign workers must make in order to claim settled status in the UK, marking a tightening of its stance on legal migration.(3) UK companies are becoming less forthcoming about what they’re willing to pay to fill open roles, indicating that employers are no longer under pressure to boost wages in a weakening labor market.(4) Moldova’s ruling pro-European party was on track to win re-election, keeping the country on the path to European Union membership and raising the risk of an escalation in tensions with Russia.(5) Moldova’s ruling pro-European party was on track to win re-election, keeping the country on the path to European Union membership and raising the risk of an escalation in tensions with Russia.Podcast Conversation: At 66, I Decided to Pay Back a Lifetime of Sleep Debt: EssaySee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the U.S jobs report and the Electric vehicle sector. In the UK – a look ahead to the Bloomberg Women, Money, Power conference in London. In Asia – a look ahead to the 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) President Donald Trump announced a fresh round of tariffs, including a 100% duty on branded or patented pharmaceuticals starting October 1, unless a company is building a manufacturing plant in America.(2) Former FBI Director James Comey was charged with lying to Congress and obstruction related to testimony he gave in 2020, accelerating President Donald Trump’s push for legal action against his perceived political enemies.(3) European diplomats warned the Kremlin this week that NATO is ready to respond to further violations of its airspace with full force, including by shooting down Russian planes, according to officials familiar with the exchange.(4) Lorie Logan, president of the Federal Reserve Bank of Dallas, has proposed replacing the central bank’s benchmark federal funds rate — the primary tool the central bank has used to steer the nation’s economy since the 1980s — with a much more widely used market bellwether.(5) Volkswagen is curbing volumes and introducing temporary shutdowns at two German factories as demand for its electric vehicles grows more slowly than predicted.(6) UK Prime Minister Keir Starmer will try to relaunch his stuttering administration with a speech Friday announcing a plan for compulsory digital identity cards to help combat illegal migration, while also making a progressive case for his premiership as it comes under threat from internal rivals.Podcast Conversation: Ryder Cup Golf Rowdiness Is Keeping the Sport Fun: Adam MinterSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) HSBC Holdings said it’s achieved a world-first breakthrough in deploying quantum computing in financial markets, as a race intensifies among some of Wall Street’s biggest firms to embed the cutting-edge technology in their daily operations. (2) Intel has approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. (3) US stocks are screamingly expensive when viewed from a historical perspective. But dig into the details, and the sky-high valuations may well be warranted, say strategists at Bank of America (4) The US lowered tariffs on auto imports from the European Union to 15% retroactive to Aug. 1, cementing terms of the framework trade agreement the two sides struck almost two months ago (5) Splits on the Bank of England policymaking committee were on full display on Wednesday after Governor Andrew Bailey said there was further to go on interest-rate cuts just hours before external member Megan Greene proposed “skipping” a cut in November. (6) Russia plans to run a budget deficit for a fifth year as declining revenue and increased spending continue to put pressure on the government’s finances amid the Kremlin’s war on Ukraine. (7) Global drugmakers including Merck, Eli Lilly and AstraZeneca are pausing or canceling investments in the UK while throwing barbs at the lack of competitiveness of its business environment Podcast Conversation: Bob Iger Just Learned a Hard Lesson: Beth KowittSee 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 NATO nations should shoot down Russian aircraft that violated their airspace and struck a more sympathetic tone on Ukraine’s chances of winning the war. (2) Late-night host Jimmy Kimmel took a conciliatory tone in his return to TV Tuesday night, saying “it was never my intention to make light of the death of a young man.” (3) Super Typhoon Ragasa is set to cross China’s southern coast later Wednesday after lashing Hong Kong with torrential rain and fierce winds, which toppled trees and damaged infrastructure across the city. (4) The UK is looking to take advantage of the chaos sown by US President Donald Trump’s decision to overhaul his country’s visa program for certain college-educated foreign workers. (5) Federal Reserve Chair Jerome Powell said the outlooks for the labor market and inflation face risks, reiterating his view that policymakers likely have a difficult road ahead as they weigh further interest-rate cuts. (6) OpenAI plans to invest roughly $400 billion to develop five new US data center sites in partnership with Oracle Corp. and SoftBank Group Corp., marking the biggest push yet to fulfill an earlier pledge to spend a half-trillion dollars on artificial intelligence infrastructure in the country. (7) Europe’s asset managers have long agreed they must consolidate to survive. A string of high-profile acquisitions suggests they’re finally willing to do something about it. Podcast Conversation: CEOs and Founders Share Their Best Advice for Staying ProductiveSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Lithuanian President Gitanas Nauseda said Russia was testing NATO’s readiness to retaliate with its series of incursions along the eastern flank of the alliance.(2) Nvidia will invest as much as $100 billion in OpenAI to support new data centers and other artificial intelligence infrastructure, a blockbuster deal that underscores booming demand for AI tools like ChatGPT and the computing power needed to make them run.(3) A large majority of London-listed companies in a recent poll have considered adding a listing overseas or moving their existing one in the last year, with Amsterdam emerging as the most popular alternative.(4) President Xi Jinping’s export engine has proved unstoppable during five months of sky-high US tariffs, sending China toward a record $1.2 trillion trade surplus.(5) The Federal Reserve’s newest policymaker, appointed by President Donald Trump, laid out his argument for aggressively lowering interest rates on Monday, presenting a view that aligns with the president’s demands but which makes him an outlier at the central bank.(6) Jimmy Kimmel Live! will return to the air on Tuesday, ending a suspension Walt Disney Co. imposed following controversial remarks the ABC late-night host made about the assassination of Republican activist Charlie Kirk.Podcast Conversation: “We want, ‘Oh, you look good. We just don’t know why,”Cosmetic Procedures That Offer Big Results With Minimal DowntimeSee 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 order on H-1B visas which requires a $100,000 fee for applications — will hurt margins of Indian outsourcers who use the program to deploy engineers to client sites. That’s a blow to India’s $280 billion IT services sector, which is already grappling with sluggish growth as customers cut back on technology spending due to geopolitical tensions and Trump’s tariffs.(2) Canada, the UK and Australia have formally recognized a Palestinian state, joining a growing global consensus and pushing ahead with a policy that has drawn criticism from US President Donald Trump.(3) Estonia is set to ask NATO allies for extra air-defense assistance over the Baltic Sea as the alliance’s eastern members try to respond to the third violation of NATO airspace this month by Russia.(4) President Donald Trump and top Republicans mourned Charlie Kirk on Sunday and galvanized young conservatives at the memorial service ahead of next year’s crucial midterm elections.(5) The UK approved a second runway at London Gatwick Airport, the latest infrastructure project pushed by Keir Starmer’s government as he tries to boost economic growth.(6) Hong Kong International Airport is weighing grounding all passenger flights for 36 hours, the longest in recent history, as the Asian financial hub braces for one of its strongest super typhoons in years, according to people familiar with the matter.Podcast Conversation: Millennials Are Stuck in an Old, Lazy StorySee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – how The K-Shaped Recession Hasn’t Hurt US Equities...Yet In the UK – Are Private Markets Entering Their Golden Age In Asia – a look at Stephen Miran's Impact on EM and the Dollar See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Nvidia plans to invest £2 billion ($2.7 billion) to support the UK’s artificial intelligence industry in partnership with several venture capital firms. (2) With golden carriages, military splendor and an opulent banquet, the UK’s royal gambit paid off this week, as President Donald Trump and Prime Minister Keir Starmer concluded an historic state visit by hailing the trans-Atlantic relationship and — at least publicly — smoothing over their policy differences. (3) The Bank of England’s decision to slow the pace and change the make-up of its quantitative tightening plan on Thursday shattered any lingering illusion the policy remains on autopilot. (4) The call Friday between US President Donald Trump and Chinese President Xi Jinping promises to determine the fate of TikTok — and potentially ease trade tensions between the world’s two biggest economies. (5) Europe’s top business lobby in China urged Beijing to address price wars and unsustainable competition as the country readies its next five-year plan — adding to pressure from the US over the matter. (6) President Donald Trump said US broadcast networks should face scrutiny over their licenses if they’re too critical of him, in what amounts to his furthest-reaching threat to media freedoms. (7) It turns out that all the “Sell America” angst swirling in markets earlier this year was misplaced. The real mantra from global investors is more like “Hedge America” — that is, keep snapping up US stocks and bonds but do so while buying derivatives that protect those investments against any further declines in the dollar. Podcast Conversation: What You Need to Know About Ketamine Therapy, the Buzzy Mental Health TrendSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs. (2) The Bank of England is set to rein in its quantitative tightening program amid concerns that its gilt sales are worsening volatility in the bond market. (3) King Charles III urged the defense of Ukraine and the environment as he welcomed US President Donald Trump and top tech and finance executives for a lavish state dinner at Windsor Castle on Wednesday. (4) Walt Disney’s ABC network is taking Jimmy Kimmel Live! off the air indefinitely amid a backlash to remarks the late-night host made about the killing of Republican activist Charlie Kirk. (5) European Union member states approved negotiations with Canada and the UK that would give them access to the bloc’s €150 billion ($178 billion) fund aimed at accelerating investment in the defense industry. (6) French unions are leading widespread anti-austerity protests Thursday, raising the pressure on newly appointed Prime Minister Sebastien Lecornu as he struggles to find allies to piece together a budget. (7) The world's biggest food company - Nestlé - has been shaken by scandal and management upheaval. After years of strategic drift and rising debt, investors are pressing incoming CEO Philipp Navratil to restore stability.Podcast Conversation: Apple and Citi CEOs Join Trump and King Charles at State DinnerSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Microsoft, OpenAI and other American companies announced plans to spend tens of billions of dollars on technology infrastructure in the UK, part of a series of business deals that coincide with President Donald Trump’s visit to the nation this week. (2) British drugmaker GSK pledged to invest $30 billion in the US over the next five years, making the announcement as President Donald Trump arrives in the UK for a highly anticipated state visit. (3) The euro hit its strongest level in four years as traders prepared for an interest-rate cut from the Federal Reserve this week that will cement its diverging trajectory from the European Central Bank. (4) TikTok’s US operations would be acquired by a consortium that includes Oracle, Andreessen Horowitz and private equity firm Silver Lake Management under a deal President Donald Trump is set to discuss with Chinese President Xi Jinping this week. (5) Europe’s top business lobby in China urged Beijing to address price wars and unsustainable competition as the country readies its next five-year plan — adding to pressure from the US over the matter. (6) The cyberattack that’s brought Jaguar Land Rover Automotive Plc factories to a standstill is affecting suppliers, with some European parts makers forced to pause or scale back their own production. Podcast Conversation: CEOs Win Over Trump With a Trophy, Prizes and Bragging RightsSee 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 expects to announce economic deals totaling more than $10 billion during his trip this week to the United Kingdom, senior US officials said Monday. (2) Prime Minister Keir Starmer has suffered a third forced departure from his government in less than two weeks as one of his senior advisers resigned amid media allegations about his past conduct. (3) President Donald Trump said he would speak with Chinese leader Xi Jinping on Friday as US and Chinese officials reached a framework deal on keeping the TikTok app running in the US. (4) Donald Trump’s economic adviser Stephen Miran is on his way to joining the Federal Reserve board after the Senate confirmed him to the post in a vote Monday evening. (5) Overseas investors are slashing their dollar exposure at “an unprecedented pace” as they put on currency hedges when buying US stocks and bonds, according to a Deutsche Bank AG analysis of exchange-traded funds. (6) Wall Street’s main regulator said it is “prioritizing” a proposal from Donald Trump to reduce the frequency of corporate earnings reports, after the president again stepped into a long-running debate over transparency in American capitalism. (7) Top dealmakers from global investment banks have been heading to Zurich in recent weeks to pitch UBS Group AG on transactions that could change the face of Swiss finance. Podcast Conversation: Talking Gorillas, Podcasting Dogs and the Future of Social MediaSee 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 economic activity slowed more than expected across the board in August, adding to the likelihood that policymakers will roll out more stimulus to hit the official growth goal. (2) US and Chinese representatives discussed TikTok, trade and the economy during a day of high-level talks in Madrid, a senior Treasury official said, as diplomacy between the world’s two biggest economies intensifies. (3) The UK government defended its ill-fated decision to appoint Peter Mandelson as ambassador to Washington as pressure grows on Prime Minister Keir Starmer over his handling of the affair following the envoy’s ouster. (4) The first US interest rate cut since Donald Trump became president again is likely to seize the spotlight in a week that will determine policy settings for half of the world’s 10 most-traded currencies. (5) The Pope has singled out Elon Musk's wealth as part of a criticism of the widening pay gap between company bosses and the working class.Podcast Conversation: ‘The Pitt’ Wins Best Drama Emmy; ‘The Studio’ Scores Best ComedySee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the next Fed decision and earnings from FedEx. In the UK – a look ahead to President Trump’s visit to the UK. In Asia – a look ahead to the next monetary policy decision from the Bank of Japan and what’s next after its ruling Liberal Democratic Party Shigeru Ishiba resigned. See omnystudio.com/listener for privacy information.

The UK's Prime Minister is facing growing questions over what he knew about Peter Mandelson's relationship with Jeffery Epstein when he appointed him as Ambassador to the US. Keir Starmer fired him after Bloomberg published a series of emails between Mandelson and the convicted paedophile.The departure comes at a difficult time for the British government as it prepares to host a state visit for US President Donald Trump who continues to face questions about his relationship with Epstein. In this Special episode of the Daybreak Europe podcast our finance reporter Harry Wilson takes us behind the scenes of the Bloomberg scoop. He tells us what the emails reveal alongside our political correspondent Ellen Milligan who will be covering President Trump's upcoming State Visit. Hosted by Stephen Carroll and Caroline HepkerSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) When Peter Mandelson was appointed the UK’s ambassador to the US in February, many in the British government predicted it would end in a scandal. Mandelson, a political operator once known as the “Prince of Darkness” for his capacity for political intrigue and spin, was fired by Prime Minister Keir Starmer on Thursday after Bloomberg published a series of emails between Mandelson and convicted pedophile Jeffrey Epstein, which cast new light on their relationship.(2) The suspect in the killing of Charlie Kirk slipped behind a building, braced himself on the roof and swung off the edge, hitting the ground hard and leaving behind palm smudges and a single shoe print. He bolted across a patch of grass, cut through a parking lot and vanished into the trees.(3) NATO is preparing a defensive military measures in response to the drone incursion in Poland to strengthen deterrence across the alliance’s eastern flank, according to a person familiar with the matter.(4) OpenAI said it’s closer to converting into a more traditional for-profit company — nearing the resolution of painful negotiations with top shareholder Microsoft Corp. and outlining terms of at least $100 billion in equity for its nonprofit arm.(5) European Central Bank policymakers are convinced that no further interest-rate cuts are needed to deliver 2% inflation, despite new economic projections pointing to an undershoot over the next two years, according to people familiar with their thinking.Podcast Conversation: Photo-Editing Tools May Be AI’s Killer App: Catherine ThorbeckeSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) A search is underway for the killer of Charlie Kirk, a conservative activist and close ally of President Donald Trump who was fatally shot Wednesday at a Utah university.(2) Poland has asked allies for additional air defense systems and counter-drone technology to better protect its land from Russian incursions, according to people familiar with the matter.(3) The CEO of Citigroup Jane Fraser says she's surprised by the resilience of the US economy amid a constantly evolving macroeconomic landscape. Speaking to Bloomberg, she said businesses now have more clarity on tax policy, tariffs, and deregulation.(4) Mexico plans to impose tariffs of as much as 50% on cars and other products made by China and several Asian exporters, aligning the country more closely with US protectionism as President Claudia Sheinbaum prepares for talks over North America’s free-trade deal.(5) Sebastien Lecornu took over as France’s prime minister pledging big changes as he tries to engage opposition parties in the herculean task of reining in the country’s debt amid hostility to budget cuts.Podcast Conversation: Larry Ellison’s $89 Billion One-Day Wealth Boom Shatters RecordsSee 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 attack against Hamas in Qatar drew rare public criticism from Donald Trump and underscored the risk that the war in Gaza could get worse before it gets better.(2) Poland condemned a Russian drone incursion as an “act of aggression,” saying its military shot down some of the objects that entered its airspace from neighboring Ukraine. (3) President Emmanuel Macron named Sebastien Lecornu France’s new prime minister, tapping a longtime ally to pick up the mantle of trying to pass a budget through a divided parliament.(4) President Donald Trump told European officials he’s willing to impose sweeping new tariffs on India and China to push President Vladimir Putin to the negotiating table with Ukraine — but only if EU nations do so as well.(5) A judge temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations of mortgage fraud.(6) Apple introduced its thinnest-ever iPhone and new Pro versions with enhanced cameras and more battery life, betting that a flurry of smartphone innovation can entice shoppers this holiday seasonSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) French Prime Minister Francois Bayrou lost a confidence motion in parliament, forcing a third change in government in just over a year and reviving uncertainty over how the country can tackle its mounting debt burden.(2) House Democrats on Monday released an alleged birthday note that they said Donald Trump sent to Jeffrey Epstein, raising pressure on the president over questions about his past interactions with the late disgraced financier.(3) US stocks have been on a tear, setting more than 20 all-time highs this year, but the Federal Reserve’s next move threatens to curb investors’ zeal, JPMorgan Chase & Co.’s trading desk warns.(4) Rupert Murdoch and his children settled litigation over a trust that controls two influential public companies, ensuring that Fox News keeps its conservative slant and favored son Lachlan Murdoch remains in charge of the globe-spanning media empire.(5) European car executives are walking a fine line at this week’s Munich auto show: Touting how swell their new electric vehicles are, while on the other hand warning Brussels that they can’t possibly sell only EVs in ten years’ time.(6) Barclays' Chief Executive Officer CS Venkatakrishnan said a windfall tax on banks in the UK could hinder the government’s push to boost growth in the economy and urged the government to consider other measures.Podcast Conversation: Londoners Flock to E-Bikes, Boats as Tube Strike Chaos HitsSee 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 Francois Bayrou’s government will likely fall Monday, a victim of his push to chip away at France’s massive debt load.(2) Japanese Prime Minister Shigeru Ishiba said he’ll step down following weeks of calls for his departure in the aftermath of a second national election setback, setting in motion a leadership race that threatens to unnerve investors.(3) The immigration raid on a Georgia EV battery plant run by two South Korean firms has rattled Seoul, coming less than two weeks after President Lee Jae Myung’s White House meeting with Donald Trump where Korean companies pledged to invest hundreds of billions in the US.(4) OPEC+ is signaling it has the confidence to push a bold oil market strategy a little bit further.(5) Wages for new hires in the UK rose at their weakest pace in over four years, a sign that a cooling labor market is weighing on inflationary pressures, according to a survey monitored by the Bank of England.(6) Walkouts by London Underground staff have begun, forcing several main lines on the network to completely or partially shut down on Sunday ahead of the start of the work week.Podcast Conversation: Consumer Product Scents Are Getting Stronger: EssaySee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to CPI and PPI data and Apple’s September 9th In the UK – on global defence industry gathering in London for the UK's flagship sector event. In Asia – a look ahead to China August CPI and PPI data. - Stuart Paul, US Economist with Bloomberg Economics, to preview CPI and PPI data.- Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, to preview Apple’s September 9th event.- Ros Mathieson, Bloomberg Chief Asia Correspondent, on global defence industry gathering in London for the UK's flagship sector event.- Tony Halpin, Russian Government and Economy Team Leader, on global defence industry gathering in London for the UK's flagship sector event.- Mary Nicola, Bloomberg MLIV Strategist in Singapore, discusses China August CPI and PPI data.- Kevin Sneader, APAC ex-Japan President at Goldman Sachs, discusses China’s stock rally.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Broadcom is helping OpenAI design and produce an artificial intelligence accelerator from 2026, getting into a lucrative sphere dominated by Nvidia. (2) President Donald Trump said he would be imposing tariffs on semiconductor imports “very shortly” but spare goods from companies like Apple that have pledged to boost their US investments. (3) Bond and currency traders are bracing for Friday’s US employment report, which stands to solidify views on Federal Reserve policy and determine the near-term trajectory of interest rates. (4) French Prime Minister Francois Bayrou said he doesn’t regret calling a confidence vote putting his government on the line, as France is “burdened with debt” and the political parties must “each take responsibility.” (5) UK Prime Minister Keir Starmer said he would “act on” the outcome of an independent investigation into his deputy Angela Rayner’s tax affairs, signaling he would fire her if the inquiry found she had breached rules governing ministers’ behavior. (6) Giorgio Armani fought for decades to keep the fashion empire he founded independent, as Italian icons like Gucci and Fendi were snapped up by larger luxury chains. It will be his heirs who decide what the future will hold. Podcast Conversation: $40,000 Vacations Inspire Finance Pros to Become Travel AgentsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) UK Deputy Prime Minister Angela Rayner admitted she underpaid taxes on a property purchase and said she was referring herself to the government’s standards watchdog, the latest blow for Keir Starmer’s Labour administration that calls her political future into question and may have long-standing consequences for the party’s leadership.(2) Chancellor of the Exchequer Rachel Reeves says growth is the solution to Britain’s economic problems. At her budget on Nov. 26, she faces the prospect of having to kill it.(3) Ukrainian President Volodymyr Zelenskiy will meet with European leaders in Paris on Thursday as he seeks to discuss security guarantees for his country, a person familiar with the matter told Bloomberg. (4) US economic activity saw “little or no change” across most of the country in recent weeks, the Federal Reserve said in its Beige Book survey of regional business contacts.(5) China’s financial regulators are considering a number of cooling measures for the stock market as they grow concerned about the speed of a $1.2 trillion rally since the start of August, people familiar with the matter said.(6) Apple is planning to launch its own artificial intelligence-powered web search tool next year, stepping up competition with OpenAI and Perplexity AI.Podcast Conversation: Xi Muses on Living to 150 in Hot-Mic Moment With Putin, KimSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Treasuries dropped, following a slump in longer-maturity European debt, with the US 30-year yield climbing toward 5% at the start of a month historically tough for long bonds. (2) UK markets suffered a fresh selloff on Tuesday, with the yield on long-dated bonds hitting the highest since 1998 and the pound tumbling, as pressure mounted on Prime Minister Keir Starmer to win the confidence of investors in the government’s budget. (3) US Treasury Secretary Scott Bessent is said to be planning to start interviewing candidates this Friday to replace Jerome Powell as Federal Reserve Chair, according to the Wall Street Journal. (4) Chinese President Xi Jinping projected defiance at a once-a-decade military parade, showcasing the nation’s growing firepower and diplomatic influence alongside his closest international allies. (5) Alphabet’s Google will be required to share online search data with rivals while avoiding harsher penalties, including the forced sale of its Chrome business, a judge ruled in the biggest US antitrust case in almost three decades. (6) As NATO’s biggest defense spender relative to the size of its rapidly expanding economy and a staunch ally of Ukraine, Europe arguably needs a strong Poland more than ever. But instead, there’s the threat of increasing paralysis in Warsaw. Podcast Conversation: Defense Firms Lure Recruits With Yoga, Higher Pay, Even CondomsSee omnystudio.com/listener for privacy information.

As UK long-dated gilts hit a level not seen in 27 years, we have a special episode of Bloomberg Daybreak Europe. The rate on 30-year gilts rose five basis points to 5.69% on Tuesday amid a global decline in government bonds. The pound also tumbled in London trading, dropping 1.1%.Bonds are falling ahead of an autumn budget, where Chancellor of the Exchequer Rachel Reeves is under pressure to find savings or raise taxes to improve the UK’s precarious fiscal position. Our Chief UK Economist Dan Hanson and Opinion Columnist Marcus Ashworth join hosts Stephen Carroll and Lizzy Burden to discuss how serious a problem the market moves create for the government and what might come next.More Here: UK 30-Year Bond Yields Climb to Highest Level Since 1998See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Gold hit a record high as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multiyear rally in precious metals. (2) Nestlé dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world’s biggest food company that’s known for its conservative corporate culture. (3) Revolut has kicked off a process for some employees to sell their shares in the company at a $75 billion valuation. (4) A plane carrying European Commission President Ursula von der Leyen was disrupted by what authorities suspect was Russian signals interference in Bulgaria. (5) UK Prime Minister Keir Starmer announced a raft of changes to his Downing Street team in a bid to reset his government and give him more influence over economic policy, after a stuttering first year in power saw his leadership called into question and Labour tank in the polls. (6) Across Botswana the lines of patients outside government clinics are lengthening, construction companies dependent on state jobs are firing workers and university students are threatening to boycott lectures after not getting the allowance increases they were promised. Podcast Conversation: Silicon Valley Drive to Get AI Into American Schools Is WorkingSee 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 Narendra Modi used his first trip to China in seven years to reset relations with India’s powerful neighbor while also seeking to strengthen ties with Russia as President Donald Trump ratchets up tensions with New Delhi. (2) The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. (3) The next few weeks will give Wall Street a clear reading on whether this latest stock market rally will continue — or if it’s doomed to get derailed. (4) Italy and France sparred over tax competition within the European Union, reigniting a debate over whether EU countries are seeking economic advantages at the expense of their peers. (5) The UK government will look into whether it should seek changes to the European Convention on Human Rights, as the ruling Labour party seeks to blunt criticism of its handling of immigration and asylum issues. (6) There’s a near €2 trillion ($2.3 trillion) upheaval coming for European bond markets to cap a 2025 already marked by tariff twists and turns, deficit worries and now a political crisis in France. Podcast Conversation: Chefs Turn to Induction for Safety and Precision Our new look Brussels Edition newsletter launches today. Sign up here for all the stories you need to know from across the European Union - every afternoon.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the August jobs report and earnings from Salesforce In the UK – a look at the future of Europe's banking industry In Asia – a look at how China is stepping up the technology battle with the US See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutesOn today's podcast:(1) German Chancellor Friedrich Merz says a meeting between Ukrainian President Volodymyr Zelenskiy and Russia’s Vladimir Putin is unlikely to materialize, even though it was touted earlier by President Donald Trump.(2) European powers referred Iran to the United Nations to face the re-imposition of tough international sanctions after the Islamic Republic failed to comply with demands to negotiate with the US and allow nuclear inspectors to resume their work.(3) Federal Reserve Governor Christopher Waller again called for lower interest rates, saying he would support a quarter-percentage point reduction in September and anticipates additional cuts over the next three to six months.(4) A solid economic reading drove stocks to fresh all-time highs, but Wall Street traders refrained from making big moves before inflation data that could bring more clues on the pace of Federal Reserve rate cuts. Short-dated Treasury yields rose. The dollar fell.(5) Lobbyists are lining up to attend Reform UK’s annual conference next week in a sign corporate Britain is increasingly taking Nigel Farage’s outfit seriously as an electoral force.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Nvidia, the world’s most valuable company, gave a tepid revenue forecast for the current period, signaling that growth is decelerating after a staggering two-year boom in artificial intelligence spending. (2) Francois Bayrou said he will negotiate directly with lawmakers next week and warned against new elections as he battles to stop France’s parliament from forcing him to resign. (3) NATO members are on track to spend more than $1.5 trillion on defense in 2025, according to the alliance’s latest estimates, as they build up their militaries amid geopolitical tensions and pressure from the US. (4) The Mexican government plans to increase tariffs on China as part of its 2026 budget proposal next month, protecting the nation’s businesses from cheap imports and satisfying a longstanding demand of US President Donald Trump. (5) Two children were killed and 17 people injured after a gunman dressed in black fired dozens of rounds through the windows of a Minneapolis Catholic church holding a Mass for elementary school students. (6) Europe’s new-car market rose the most in 15 months in July, as consumers shrugged off concerns over the global economy to splash out on fully electric and hybrid models. Podcast Conversation: Netflix Missed a Moment With ‘KPop Demon Hunters’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 was prepared for a legal fight with Federal Reserve Governor Lisa Cook after he moved to oust her from her post following allegations that she falsified mortgage documents.(2) France’s bond yields could spike to 100 basis points above their German peers for the first time since 2012 if the nation’s political crisis deepens, according to Carmignac.(3) UK long bond yields soared to within a whisker of a 27-year high Tuesday, piling pressure on Prime Minister Keir Starmer’s government to rein in its fiscal stance.(4)Nigel Farage vowed to expel tens of thousands of asylum-seekers from the UK, tapping a policy deployed in the US by President Donald Trump as he seeks to guide his populist Reform party to power at the next general election.(5) President Donald Trump imposed a crushing 50% tariff on some Indian goods — the highest in Asia — to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi. (6) SpaceX’s Starship rocket launched to space and deployed satellites for the first time before surviving most of its journey to Earth, achieving new technological milestones after a year of fiery setbacks.Podcast Conversation: Taylor Swift Turns Her Engagement Into Another Media CoupSee 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 moved to oust Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations from a White House ally that she falsified documents on mortgage applications.(2) US President Donald Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes that hit American technology companies.(3) Prime Minister Francois Bayrou called a confidence vote that may topple France’s government as soon as next month, prompting a selloff in French assets as investors hedged for more political uncertainty.(4) Britons looking for their first jobs face the worst hiring drought since the depths of the Covid pandemic, as the rise in artificial intelligence and higher employment costs distort career opportunities.(5) UK grocery prices edged up in August, as bad weather and poor harvests exacerbated the strain of higher operating costs hitting supermarkets.(6) Elon Musk accused Apple Inc. and OpenAI in a lawsuit of unfairly favoring the artificial intelligence company across iPhones and thwarting competition for other chatbot makers.Podcast Conversation: Labubus Go for Up to $150,000 Fueled by Blackpink, Brad PittSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to personal spending data and earnings from Nvidia. In the UK – a look at the upcoming Medef Conference. In Asia – a look at the next Bank of Korea decision and the HK IPO 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) Warnings on defaults are starting to pile up in the $1.7 trillion private credit market, prompting at least some analysts to raise concern about underappreciated risks in one of Wall Street’s favorite money spinners. (2) Bond investors are heading into Friday’s much-anticipated Jerome Powell speech largely expecting the Federal Reserve chair will indicate policymakers will start cutting interest rates next month. (3) Nvidia has instructed component suppliers including Samsung Electronics Co. and Amkor Technology Inc. to stop production related to the H20 AI chip, The Information reported, citing unidentified sources. (4) The US and European Union took the next steps to formalize their trade pact, detailing plans that could reduce tariffs on European automobiles within weeks while opening the door to new potential discounts for steel and aluminum. (5) The UK is bolstering its air defense capabilities with a new contract for missile systems, as European military planners work to map out a post-peace plan for Ukraine that could see its skies protected by western allies. (6) UK consumers are the most optimistic they’ve been about their household budgets in 12 months, according to a closely watched survey, a sign Britons are starting to feel the benefits of the Bank of England’s interest rate cuts.Podcast Conversation: AI Slurs Are Just the Start of the BacklashSee 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 Governor Lisa Cook signaled her intention to remain at the central bank, defying calls for her resignation by President Donald Trump over allegations of mortgage fraud. (2) Most Federal Reserve officials highlighted inflation risks as outweighing concerns over the labor market at their meeting last month, as tariffs fueled a growing divide within the central bank’s rate-setting committee. (3) The NASDAQ declined for the second straight day yesterday, with MAG 7 stocks on their longest losing streak since April. Futures are currently pointing higher for the tech-heavy index, but this week's dip has raised questions if the rally in the sector has gone too far, too fast. (4) UK Chancellor of the Exchequer Rachel Reeves is considering taxing high-value family homes at the point of sale as she looks for ways to plug a multibillion-pound hole in the upcoming budget. (5) European leaders are discussing a security guarantee for Ukraine that would commit Kyiv’s allies to decide within 24 hours whether to provide military support to the country if it’s again attacked by Russia. (6) A UK ban on disposable vapes is failing to stop users treating refillable devices as if they are still throwaway products, new research shows.Podcast Conversation: ‘Kill Bill’ Kicks Turn Soft Power to Hard ProfitSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Global stocks paused after a record-breaking run, with a sharp selloff in heavyweight technology shares dragging markets lower and futures indicating further declines. (2) President Donald Trump has bought hundreds of bonds since he returned to office, including those sold by US companies affected by the sweeping changes to federal policies he’s championed. (3) A package of security guarantees for Ukraine will take shape as soon as this week as leaders seize on President Donald Trump’s backing for a plan that involves sending European troops as part of a potential peace deal. (4) Thousands of firefighters worked overnight to contain dozens of deadly wildfires burning across Spain and Portugal as heat and gusty winds spread blazes through dry brush, forests and crops. (5) When a company abruptly ditches its CEO, the costs of the shakeup can quickly add up. Bloomberg News consulted with compensation consultants, academics, corporate lawyers, executive-search advisors and public-relations experts on the true cost of firing your CEO. (6) Overtourism and climate change have created a dangerous feedback loop that endangers Southern Europe’s tourism industry.Podcast Conversation: Why We Love Succession Dramas About Billionaire Family BusinessSee 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 called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. (2) The Trump administration is in discussions to take a stake of about 10% in Intel Corp., according to a White House official and other people familiar with the matter, a move that could see the US become the beleaguered chipmaker’s largest shareholder. (3) The yield on long-dated inflation-linked bonds surpassed the highs seen during the gilt-market meltdown three years ago, the latest unwanted market milestone for the UK government. (4) The Treasury is examining the possibility of replacing stamp duty and introducing a new tax on the sale of UK homes worth more than £500,000 ($676,000), according to the Guardian. (5) Apple will no longer be forced to provide a so-called backdoor to American users’ data to the UK government, US Director of National Intelligence Tulsi Gabbard said in a post on X on Monday. (6) In 2022, Saudi Arabia announced one of its most ambitious endeavours to date: a sprawling ski resort in the heart of the dry Middle Eastern desert. It’s becoming one of the most difficult tests yet of the kingdom’s ability to pull off Crown Prince Mohammed bin Salman’s grand ambitions. Podcast Conversation: Rich Londoners Balk at Hearing ‘No’ in Efforts to Install ACsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Ukrainian President Volodymyr Zelenskiy and his European allies arrive in Washington on Monday anxious to find out what Donald Trump committed to at his summit with Vladimir Putin and apprehensive that he’ll force Kyiv into making unpalatable concessions. (2) UK Prime Minister Keir Starmer declared at a Jaguar Land Rover factory in May that his world-leading trade deal with President Donald Trump included a cut in US tariffs on British steel to zero. (3) Israel’s economy slumped in the second quarter as the country’s 12-day war with Iran imposed a total shutdown on many businesses. (4) Annual pay for bosses of FTSE 100 companies hit a record high for the third consecutive year. (5) In 1981, the year Airbus SE announced it would build a new single-aisle jetliner to take on Boeing the 737 ruled the roost. (6) Advanced Credit Solutions is a tiny finance firm based in Luxembourg that was founded by a Belgian and works with insurers. Despite its outwardly bland appearance, the business it does is anything but. Podcast Conversation: Chinese Robotic Stocks May Rise After Unitree Wins Gold in Games See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to housing data and retail earnings. In the UK – a look at challenges facing European banking consolidation ahead of an upcoming shareholder vote in Italy. In Asia – a look at Japan CPI, PMI, and trade. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Russian President Vladimir Putin sought to strengthen his rapport with Donald Trump ahead of their summit, praising the US leader’s efforts to broker an end to the war in Ukraine and dangling the promise of economic cooperation as well as a new arms control treaty. (2) The Trump administration is in talks with Intel to have the US government take a stake in the beleaguered chipmaker, according to people familiar with the plan, in the latest sign of the White House’s willingness to blur the lines between state and industry. (3) London is bearing the brunt of the UK’s jobs slowdown as a combination of tax rises, elevated wage costs and weak consumer spending force the city’s business to cut payrolls faster than in the rest of the country. (4) US and Canadian banks are summoning staffers back to their offices at a faster rate than European rivals, widening the divide in one of finance’s defining workplace debates. (5) A battle for talent among Europe’s top football teams is igniting a debt market using the players’ transfer fees as collateral. Podcast Conversation: Bag Charms Selling for $1,000 Are Retail's Next Little LuxurySee omnystudio.com/listener for privacy information.