Bloomberg Daybreak: Europe Edition

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S GDP and personal spending data and Nike earnings. In the UK – a look ahead to TheCityUK's annual conference. In Asia – a look ahead to Bloomberg’s China economic survey.-----------------------------------------------------------------Guests:-Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview next week's U.S GDP/personal spending data.- Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, to preview Nike earnings. -Leo Kehnscherper, Bloomberg European Asset Management Reporter, looks ahead to TheCityUK's annual conference. -Julian Harris, UK Economics Editor, looks ahead to TheCityUK's annual conference. - Eric Zhu, China Economist for Bloomberg Economics, discusses Bloomberg’s China Economic Survey. -Karishma Vaswani, Bloomberg Opinion Columnist in Singapore, discusses her column: “US Rethink on Australia Subs Is China’s Win.” 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 decide within two weeks whether to strike Iran, his spokeswoman said, as Israel hit more Iranian nuclear sites and warned its attacks may bring down the leadership in Tehran. (2) Iran is racing to get its oil out into the world, a sign of the unusual logistical steps that Tehran is undertaking as the US mulls joining Israel in bombing the Persian Gulf state. (3) The conflict between Israel and Iran is spilling over into the digital world, inflaming a decades-long campaign of hacks and espionage between two nations renowned for their cyber prowess. (4) Organized gangs are behind most UK vehicle theft, using electronic tools to disrupt remote locking devices, and police are struggling to keep up, with an estimated nine stolen cars slipping through their fingers for every one intercepted. (5) The Bank of England held interest rates at 4.25% in a more divided vote than expected as policymakers weighed up the UK’s softening jobs market and weak growth against a backdrop of mounting geopolitical tensions. (6) The European Union is continuing intensive trade talks with the US ahead of a July 9 tariff deadline set by President Donald Trump and is “making progress,” according to EU Economy Commissioner Valdis DombrovskisPodcast Conversation: AI Barbie? Mattel Is Gambling With Toys That Are Too GoodSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Senior US officials are preparing for the possibility of a strike on Iran in the coming days, according to people familiar with the matter, a sign that Washington is assembling the infrastructure to directly enter a conflict with Tehran.(2) Federal Reserve officials continued to pencil in two interest-rate cuts in 2025, though new projections showed a growing divide among policymakers over the trajectory for borrowing costs as tariffs make their way through the US economy.(3) The Bank of England is expected to keep interest rates at 4.25% on Thursday and signal it is sticking with its one-cut-every-other-meeting approach as officials try to strike a balance between elevated inflation, higher oil prices and a slowing economy.(4) London is seeking to attract more Chinese firms to list on its stock exchange as the city struggles with a shrinking equity market and a deal drought across Europe.(5) The number of London homes for sale at £5 million ($6.8 million) or more rose to the highest on record last month, as the nation contends with the departure of wealthy foreigners looking to escape tax hikes.Podcast Conversation: Gen Z Drives Britain’s Consumer Confidence to Highest This YearSee 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 met with his national security team in Washington for more than an hour on Tuesday to discuss the escalating Middle East conflict, according to people familiar with the matter, fueling fresh speculation that the US is on the verge of joining Israel’s attack on Iran.(2) US President Donald Trump has a wide range of military assets in the Middle East and across the globe to bring to bear in a potential fight against Iran as he weighs one of the most momentous foreign policy decisions of his administration.(3) The top US bank regulators plan to reduce a key capital buffer by up to 1.5 percentage points for the biggest lenders after concerns that it constrained their trading in the $29 trillion Treasuries market.(4) The UK is looking to restrict the number of visas it gives to countries which refuse to sign returns agreements with Britain, Prime Minister Keir Starmer said, as his government pursues more assertive measures to reduce levels of net migration.(5) OpenAI Chief Executive Officer Sam Altman said Meta Platforms Inc. has offered his employees signing bonuses as high as $100 million, with even larger annual compensation packages, as it seeks to build a top artificial intelligence team.Podcast Conversation: At Art Basel, Dealers Reap Rewards By Avoiding Politics and WarSee 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 is set to depart the Group of Seven leaders’ summit in Canada a day early, after warning residents of Tehran to evacuate the city as Israel continued to bombard Iran in a bid to disable its nuclear program. (2) President Donald Trump’s hasty exit from the Group of Seven conference in Canada deepened questions about his promise to bring peace to an increasingly violent world and added fresh evidence of his skepticism toward the institutions that have long underpinned US diplomacy. (3) Oil jumped after US President Donald Trump called for the evacuation of Tehran, before paring gains, as the market remained on edge about an escalation in the conflict with Israel that could disrupt crude supply. (4) Prime Minister Keir Starmer reached an agreement with US President Donald Trump to implement trading terms disclosed last month to slash US tariffs on key British exports and raise UK quotas on certain American agricultural products. (5) US President Donald Trump and Japanese Prime Minister Shigeru Ishiba failed to reach an agreement on a trade package on the sidelines of the Group of Seven summit, an outcome that leaves the Asian nation inching closer to a possible recession as the pain of US tariffs hits its economy. (6) The Bank of Japan left its benchmark rate unchanged and unveiled a plan to slow its withdrawal from the bond market from next year in a sign of caution following heightened market volatility. (7) A damning report into group-based child sexual exploitation in England and Wales has found that the ethnicity of people involved in grooming gangs has been "shied away" from -- and not recorded in two-thirds of cases.Podcast Conversation: Ken Griffin on Trump, Harvard and Why Novice Investors Can’t WinSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Open hostilities between Israel and Iran entered a fourth day on Monday with no sign of easing, stoking fears of a wider war in the oil-rich region.(2) Oil-watchers are bracing for a further price rally after Israeli strikes on Iranian energy assets heightened the risk to Middle East supplies.(3) President Donald Trump said he believed it’s possible Israel and Iran could reach an agreement to end their conflict, though the two sides may need to continue fighting before they’re ready to broker a peace deal.(4) The UK government is trying to walk a tightrope on relations with Israel, expressing support for its military action against Iran while also criticizing the war in Gaza.(5) The UK will seek to restart trade negotiations with Canada, Prime Minister Keir Starmer said, as he strives to strengthen commercial ties around the world to better insulate Britain’s economy from the fallout of US President Donald Trump’s tariff war.(6) The UK appointed the first woman to lead its secret intelligence service MI6 as Prime Minster Keir Starmer warned of the increasing threats Britain faces from its adversaries.Podcast Conversation: Iran’s Leaders Face a Reckoning as Israeli Strikes IntensifySee 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 next week’s Fed decision. In the UK – a look ahead to next week’s Bank of England decision. In Asia – a look ahead to next week's Bank of Japan decision. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Israel launched waves of airstrikes against Iran’s nuclear program and ballistic-missile sites on Friday morning, a major escalation in the standoff between the two adversaries that risks sparking a wider war in the Middle East. (2) Explosions were heard across Tehran and in the city of Natanz, home to one of its nuclear sites, according to videos and local media. (3) US President Donald Trump says Iran cannot have a nuclear bomb, Fox News journalist Bret Baier reports, citing an interview with him after Israel launches strikes against Iran. The strikes came just hours after Trump had suggested to reporters the US still believed in the prospects for a diplomatic solution. (4) Oil surged as much as 13% after Israel carried out waves of military strikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production. (5) Stocks fell along with equity-index futures and investors rushed to the safety of haven assets after Israel attacked Iran’s nuclear program sites in a major escalation of tensions in the Middle East. Crude oil jumped 9%, the biggest move in more than three years. (6) Investigators have started combing the wreckage of Air India flight AI171 as they seek to determine what caused the Boeing Co. Dreamliner to crash shortly after takeoff Thursday afternoon, killing all but one of the 242 people aboard in the deadliest aviation accident in more than a decade. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) As the pace of wealthy individuals leaving London quickens, the numbers are starting to stack up: Labour’s flagship “tax the rich” policy risks becoming a net drain on the UK economy. (2) Rachel Reeves will pump billions of pounds into areas outside London as the Labour government tries to head off an electoral threat posed by Nigel Farage’s Reform UK. (3) President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. (4) The US ordered some staff to depart its embassy in Baghdad and authorized families of military service members to leave the region, officials said, after Iran threatened to strike American bases if it’s attacked over its nuclear program. (5) The Pentagon has launched a review of the Biden-era Aukus pact to develop nuclear-powered submarines with Australia and the UK, as the Trump administration looks to shift the burden for collective defense to allies and make sure the US has enough warships of its own. (6) Northern Ireland has seen a third night of clashes between rioters and police, in violence that's been described by officials as racially motivated.Podcast Conversation: Five French Countryside Escapes That Pair Perfectly with ParisSee 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 defend her fiscal choices and trumpet billions of pounds of infrastructure investment in the UK spending review on Wednesday, as Keir Starmer’s government seeks to regain momentum after a faltering first year in power. (2) The US and China agreed to a preliminary plan to ease trade tensions, which could revive the flow of sensitive goods between the world’s two largest economies. (3) Donald Trump can continue to enforce his global tariffs for now, a federal appeals court held in a win for the president on one of his signature economic policies. (4) European Central Bank Governing Council member Yannis Stournaras said the US’s unpredictable behavior on tariffs is undermining the dollar’s status as the global reserve currency and is an opportunity for the euro, according to an interview in Handelsblatt. (5) Secretary of State Marco Rubio rebuked five allies over sanctions they imposed on two members of Israel’s cabinet as fissures between the US and its partners widen over the war in Gaza and the treatment of Palestinians. (6) Curfew area will be about one square mile in downtown, and runs from 8pm to 6am, Los Angeles mayor Karen Bass says at a press conference. Podcast Conversation: Sony’s Bet on Sports Pays Off With AI Line Judges at WimbledonSee omnystudio.com/listener for privacy information.

On today's podcast: (1) UK employment plunged by the most in five years and wage growth slowed more than forecast, as the labor market deteriorated after Chancellor of the Exchequer Rachel Reeves ramped up the cost of hiring.(2) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials. (3) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. (4) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings. (5) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity. Podcast Conversation: Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest HotelsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials. (2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. (3) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings. (4) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity. (5) Apple introduced a number of AI-powered features during the company’s Worldwide Developers Conference on Monday, even as long-awaited enhancements to its Siri voice assistant remain far off. (6) Barclays is preparing to cut more than 200 jobs in its investment bank in the coming days as part of Chief Executive Officer C.S. Venkatakrishnan’s plan to boost the profitability of the division. Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest HotelsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order. (2) The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week. (3) Keir Starmer will make an appearance alongside Nvidia Corp co-founder Jensen Huang on Monday, as the British prime minister puts technology and artificial intelligence at the heart of his government’s plan to boost economic growth. (4) The UK’s finance industry kept its lead over the rest of Europe in attracting foreign investment last year, although activity across the region slowed, according to professional services firm EY. (5) European Central Bank Executive Board member Isabel Schnabel sees a favorable moment now to strengthen the euro’s global role as investors turn to Europe. Podcast Conversation: Monograms Wield Power in an Age of Resale and Superfakes: EssaySee 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 CPI and PPI data and Tesla’s Robotaxi launch. In the UK – a look ahead to London’s Tech Summit. In Asia – a look ahead to readings on Chinese exports, as well industrial production and retail sales. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Differences between US President Donald Trump and Elon Musk exploded Thursday into an all-out public feud. (2) Tesla’s shares sank as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people. (3) US President Donald Trump and Chinese President Xi Jinping on Thursday agreed to further trade talks aimed at resolving disputes over tariffs and supplies of rare earth minerals at the heart of tensions between the world’s two largest economies. (4) German Chancellor Friedrich Merz successfully navigated a 40-minute meeting with Donald Trump in the Oval Office without falling victim to the public humiliation the American president has doled out to other leaders — even though both Germany and Europe are two of Trump’s perpetual irritants. (5) Christine Lagarde just unveiled an outlook that may be as good it gets for the euro zone. (6) Zia Yusuf resigned as chairman of Reform UK after 11 months in the job, delivering a blow to its leader, Nigel Farage, who has promised to build and professionalize the insurgent party in a quest for power at the next general election. Podcast Conversation: A Mega Fun Run Becomes a Finance Bro Blood SportSee 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 that bans individuals from 12 countries from entering the US, reinstating one of the most controversial measures from his first term after an attack in Colorado that targeted an event supporting Israeli hostages.(2) Elon Musk is on a mission to block President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, according to a person familiar with the matter.(3) Donald Trump on Wednesday broadcast Vladimir Putin’s warning that he’ll retaliate against Ukraine for its recent stunning drone strikes deep inside Russian territory, the clearest signal yet that the US president’s peace efforts have stalled.(4) Some of the world’s biggest banks are pushing UK regulators to accelerate plans to ease rules around deferred bonuses so the new regime can be applied to payouts for 2025, according to people familiar with the matter.(5) The Trump administration’s attack on US diversity, equity and inclusion policies is reverberating across the Atlantic, with corporations abandoning sponsorships of Britain’s Pride festivals, threatening key funding for events this summer.Podcast Conversation: Deliveroo Launches Drone Food Delivery Service in DublinSee 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 has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers. (2) Chinese Foreign Minister Wang Yi used his first meeting with new US Ambassador David Perdue to complain about recent actions by Washington, underscoring a downturn in relations between the world’s two biggest economies. (3) Donald Trump ally Elon Musk lambasted the president’s signature tax bill as a budget-busting “abomination” as Republican fiscal hawks stepped up criticism of the massive fiscal package. (4) Volkswagen AG said about 20,000 employees will voluntarily leave the company by the end of the decade as the carmaker restructures its German operations to cope with uneven demand for its vehicles. (5) Britain’s ammunition production begins life in the ancestral town of George Washington. Hundreds of technicians and robots work around the clock to manufacture the empty shells that are then filled with explosives and fired from a range of artillery systems. Podcast Conversation: Taylor Swift’s Catalog Win Is a Masterclass in BusinessSee omnystudio.com/listener for privacy information.

As fighting in Ukraine drags on and Donald Trump demands that Europe take greater responsibility for its own security, the UK is confronting the hard reality of rebuilding its military strength. The challenge lies in overcoming years of underinvestment, failed contracts, and recruitment struggles. While European allies are pledging billions of euros to boost domestic defense manufacturing, the UK is scrambling to catch up in an industry it once dominated. In this special podcast, Daybreak Europe host Caroline Hepker speaks with CEOs and industry experts, along with our Political Correspondent Ellen Milligan and Bloomberg’s Chief UK Economist Dan Hanson, to assess whether Britain has what it takes to realize its ambition of once again becoming a major military power.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 combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said. The Paris-based organization slashed its global forecasts for the second time this year, citing the impact of the American president’s tariff onslaught. (2) US President Donald Trump is eager to land more trade deals, but talks with China and Europe continue to languish amid communications breakdowns and fresh tariff threats.(3) Far-right lawmaker Geert Wilders pulled his Freedom Party out of the Netherlands’ ruling coalition, causing the government to collapse and triggering a snap election.(4) Thames Water’s preferred bidder KKR has pulled out of a rescue deal in a major setback for the utility. The US alternative asset manager “will not be in a position to proceed, and its preferred partner status has now lapsed,” Thames said in a statement Tuesday.(5) Private credit firms enjoy a “significant” capital advantage over traditional banks that’s unlikely to disappear, according to Bill Winters, chief executive officer of Standard CharteredPodcast Conversation: Musk’s Chatbot Can Be ‘Non-Woke’ or Truthful, Not Both: 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) US President Donald Trump is eager to land more trade deals, but talks with China and Europe continue to languish amid communications breakdowns and fresh tariff threats. (2) Treasuries began June on the back foot with 30-year bond yields testing the 5% level as concerns over President Donald Trump’s tariff policies resurfaced at the start of a data-heavy week for assessing the health of the world’s largest economy. (3) French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni will look to patch up difficult relations during a bilateral meeting in Rome on Tuesday, as Europe grapples with the seismic geopolitical shifts caused by the Trump administration. (4) Russia and Ukraine wrapped up a second round of talks in Istanbul that failed to bring the two sides closer to ending the war, but laid the groundwork for a new exchange of prisoners. (5) The UK envisages taking an enhanced role in NATO’s nuclear deterrence amid doubts surrounding the US commitment to the alliance, as Prime Minister Keir Starmer pledges to make Britain “war-ready” to counter Russian aggression in Europe. (6) Immigration minister Seema Malhotra said it is still too soon to know whether the government’s plans to make it harder for migrants to claim settlement in the UK will apply retroactively to those already in the country, potentially extending the wait for millions who arrived in the country since the pandemic. Podcast Conversation: Musk’s Chatbot Can Be ‘Non-Woke’ or Truthful, Not Both: 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) Ukraine staged a dramatic series of strikes across Russia, deploying drones hidden in trucks deep inside the country to hit strategic airfields as far away as eastern Siberia. (2) The UK will create an “always on” munitions production capacity to allow it to scale-up its defense industry when needed, as it increasingly shifts to a war footing with Russia’s assault on Ukraine showing little sign of ending. (3) A nationalist candidate backed by Donald Trump won Poland’s presidential election, defeating the centrist mayor of Warsaw in a blow to the country’s pro-European Union government. (4) Six people were injured in an attack on an event in Boulder, Colorado, held in support of Israeli hostages, police and FBI officials said, sparking renewed concern about threats of antisemitic violence in the US. The FBI says the suspect was heard to yell 'Free Palestine' while using a makeshift flamethrower. (5) China accused the US of violating their recent trade deal and vowed to take measures to defend its interests, dimming the prospect of an immediate leadership call that Donald Trump wants to have to further bilateral talks. (6) The dollar will tumble to levels last seen during the Covid-19 pandemic by the middle of next year, hit by interest rate cuts and slowing growth, according to predictions by Morgan Stanley.Podcast Conversation: Jesse Armstrong: ‘I’m Interested in the Power, Not the Money’Podcast Image Source: Ukrainian Security ServiceSee 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 U.S jobs report. In the UK – a look ahead to the ECB’s monetary policy decision. In Asia – a look ahead to economic data in Vietnam. 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 federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, giving at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order. (2) US Treasury Secretary Scott Bessent said trade talks with China are “a bit stalled,” and that a call between President Donald Trump and his counterpart Xi Jinping may be needed for the world’s two largest economies to reach a deal. (3) President Donald Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates at their first in-person meeting since the president’s inauguration, the White House said. (4) Buried deep in the more than 1,000-page tax-and-spending bill that President Donald Trump is muscling through Congress is an obscure tax measure - section 899 - that's setting off alarms on Wall Street and beyond. (5) The US economic outlook remains stronger than Europe despite sweeping policy uncertainty causing ripples across the economy, according to Citigroup Inc. Chief Executive Officer Jane Fraser. (6) Bank of England Governor Andrew Bailey has urged the government to strike a deeper trade deal with the European Union to improve growth and “minimize negative effects” of Brexit.Podcast Conversation: Why Wall Street Interns Are Safe From AI: Marc RubinsteinSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The vast majority of President Donald Trump’s global tariffs were deemed illegal and blocked by the US trade court, dealing a major blow to a pillar of his economic agenda. (2) US assets got a boost Thursday after a vast majority of President Donald Trump’s global tariffs were deemed illegal and blocked by the US trade court. Upbeat earnings from Nvidia Corp. also lifted investor sentiment. (3) Billionaire Elon Musk said Wednesday that his time as formal adviser to President Donald Trump is coming to a close, raising questions about the future of the Department of Government Efficiency effort he spearheaded. (4) Nvidia hief Executive Officer Jensen Huang soothed investor fears about a China slowdown by delivering a solid sales forecast, saying that the AI computing market is still poised for “exponential growth.” (5) Federal Reserve officials broadly agreed heightened economic uncertainty justified their patient approach to interest-rate adjustments, minutes from their latest policy meeting showed Wednesday. (6) The UK said it plans to require the country’s pension funds to invest in private markets and the domestic economy, a move widely opposed by the City of London’s investment managers. Podcast Conversation: Trump Bristles at ‘TACO Trade’ That Bets on Him Backing DownSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) For decades, Asia’s export powerhouses had a simple financial strategy: Sell goods to the US, then invest the proceeds in American assets. (2) Investors are on tenterhooks Wednesday for an auction of 40-year Japanese government bonds as volatility in the nation’s yields continues to rumble through global debt markets. (3) President Donald Trump warned in a social media post Tuesday that Russian leader Vladimir Putin was “playing with fire”, as the US weighs whether to target Moscow with additional sanctions over its long-range missile and drone barrage against Ukraine. (4) US Homeland Security Secretary Kristi Noem urged Poles to vote for the nationalist opposition candidate in Sunday’s presidential election, wading into a tightly-contested campaign that threatens to derail efforts to rebuild the country’s democratic institutions. (5) SpaceX’s colossal Starship rocket suffered a leak, tumbled out of control in space and disintegrated as it hurtled back to Earth during a test flight on Tuesday, in a third setback in a row for the Elon Musk-led company. (6) The UK government said it would cut back planning hurdles faced by smaller housebuilders, as Prime Minister Keir Starmer seeks to deliver on his target of building 1.5 million new homes. Podcast Conversation: Car Lovers' Best Advice for How to Plan the Perfect Summer Drive 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 53-year-old man has been arrested after a car ploughed into a crowd of people during Liverpool's Premier League victory parade. Merseyside Police said the suspect was white, British and from the Liverpool area. (2) The European Union said it agreed to accelerate negotiations with the US to avoid a transatlantic trade war, signaling a more amicable approach just days after President Donald Trump criticized the bloc for taking advantage of the US and slow-walking talks. (3) President Donald Trump’s erratic policies offer a “prime opportunity” to strengthen the euro’s international role and allow the currency bloc to enjoy more of the privileges so far reserved for the US, European Central Bank President Christine Lagarde said. (4) NATO Secretary General Mark Rutte confirmed the alliance will seek to adopt a new defense spending target of 5% of GDP at a June summit, meeting a demand by US President Donald Trump that had originally seemed unrealistic. (5) Freed from the clutches of government ownership, NatWest Group Plc is getting ready to chart its own course for the first time in almost two decades.(6) The UK government plans to train 120,000 British builders, engineers and care workers as it tries to curb migration without worsening skill shortages. (7) King Charles III arrived in Canada to open a new parliamentary session at the invitation of Prime Minister Mark Carney, a move designed in part to send a message to US President Donald Trump about the northern country’s sovereignty. Podcast Conversation: Tom Cruise Really Did Get a US Aircraft Carrier for This MissionSee 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 GDP and personal spending data, and Nvidia earnings. In the UK – a look ahead to Poland's Presidential run off election. In Asia – a look ahead to the upcoming Bank of Korea decision. 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 Trump Administration blocked Harvard University from enrolling international students, delivering a major blow to the school and escalating its fight with elite colleges to unprecedented levels. (2) Former US Treasury Secretary Lawrence Summers blasted the Trump administration’s decision to block Harvard University from enrolling international students, calling on the institution to fight back. (3) The US Supreme Court shielded the Federal Reserve from Donald Trump’s push to fire top officials at independent federal agencies, in a decision likely to quell concerns that the president might move to fire Jerome Powell. (4) President Donald Trump cut a deal with blue-state Republicans on taxes and put down an 11th-hour rebellion by conservatives over spending to get his “one big, beautiful bill” passed by the House. (5) European Central Bank President Christine Lagarde warned that international trade will be changed forever by the tensions over tariffs, even as the world’s leading economies edge toward some compromises. (6) Apple is aiming to release smart glasses at the end of next year as part of a push into AI-enhanced gadgets, but it has shelved plans for a smartwatch that can analyze its surroundings with a built-in camera. Podcast Conversation: Meet the Chefs Creating Incredible, Innovative Caribbean Food in LondonSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Cyril Ramaphosa came to the White House looking to persuade President Donald Trump to stop floating the conspiracy theory that there’s a genocide against White people in South Africa. Instead, the man who’d helped negotiate the end of apartheid walked into a trap. (2) Two members of the Israeli embassy’s staff were fatally shot outside the Capital Jewish Museum in Washington on Wednesday night, Homeland Security Secretary Kristi Noem said. (3) The UK urged its Group of Seven allies to agree a cut to the price cap on Russian oil, saying the move is necessary to put further pressure on President Vladimir Putin to end Russia’s war in Ukraine. (4) In the world’s biggest bond market, investors are pushing back against President Donald Trump’s tax-cut plan. (5) Britain’s Labour government will make its sharpest U-turn since returning to power by limiting cuts to pensioners’ subsidies, as it puts the electoral threat posed by Nigel Farage ahead of lingering concern about the public finances. Podcast Conversation: As F1 Has Grown in the US, So Has the Market for MemorabiliaSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Oil jumped following a CNN report that new US intelligence suggests Israel is preparing for a potential strike on Iranian nuclear facilities. (2) European and UK officials ratcheted up pressure on Israel over its latest offensive in Gaza, expanding the international outcry over the humanitarian crisis caused by the conflict. (3) Canadian Finance Minister Francois-Philippe Champagne said Group of Seven countries have started discussing tariffs on oversupplied, low-value Chinese products. (4) Elon Musk said he’s committed to still leading Tesla five years from now and expects to pare back his political spending, assuaging some investors’ concerns about the future of his most valuable company. (5) UK Chancellor of the Exchequer Rachel Reeves will hold talks with US Treasury Secretary Scott Bessent this week, as the two countries continue to finalize the details of an agreement to cut tariffs imposed by President Donald Trump’s administration. Podcast Conversation: Start Your Day Like a Boss: What CEOs Listen To on Their CommutesSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) After two hours talking with Putin, Trump said on social media that Ukraine and Russia would “immediately start negotiations” toward a ceasefire — but possibly without the US. There was no sanctions threat, no demand for a time-line, and no pressure on the Russian leader. (2) Prime Minister Keir Starmer heralded a “landmark deal” between the UK and the European Union on Monday that he billed as a reset moment for relations under his government. Still, with many details unresolved, Brexit never quite seems to be over. (3) Israel will take over the entire Gaza Strip, Prime Minister Benjamin Netanyahu said on Monday, as the military announced it would carry out an “unprecedented attack” on Hamas. (4) The Bank of England is considering ways to loosen post-crisis rules that forced banks to separate their retail and investment banking arms after a number of UK lenders called for the regime’s removal. (5) Washington lawmakers are risking a “fiscal disaster” if a recession hits as they plow on with their package of sweeping tax cuts, according to Guggenheim Securities Co-Chair Jim Millstein. (6) JPMorgan Chase Chief Executive Officer Jamie Dimon warned against complacency in the face of a slew of risks, citing everything from inflation and credit spreads to geopolitics. Podcast Conversation: Nine Travel Products That Will Make Summer Vacation a BreezeSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) UK and European Union negotiators worked into Sunday evening in a bid to reset post-Brexit relations under Keir Starmer’s new Labour government ahead of a summit in London. (2) Investors faced yet another bumpy start to the trading week with US assets coming under fresh pressure, although it’s mounting concern over American debt rather than tariffs generating the volatility this time. (3) Vladimir Putin believes he has a strong hand ahead of a phone call Monday with Donald Trump and European leaders are trying to prevent the US president from rushing through a deal. (4) A rising number of Americans are exploring a move overseas to escape the tumult of Donald Trump’s administration. But those looking to Europe are seeing their options narrow by the day. (5) Former US President Joe Biden has been diagnosed with an aggressive form of prostate cancer, his office announced. (6) Scottie Scheffler has pulled away to win the PGA Championship for a third major title.Podcast Conversation: London's Alfresco Dining Revival Has One Obstacle: Londoners and When Your Favorite Restaurant Becomes a StatisticSee omnystudio.com/listener for privacy information.

We wanted to bring you an episode from another podcast we think you'd like. Here's a special episode from our UK Politics team.The UK is hugely dependent on overseas workers in the social-care sector, supporting the elderly, vulnerable and disabled. After a year-long investigation, Bloomberg has uncovered how potential migrants are being conned out of millions of pounds. Our trade and migration correspondent Lucy White explains how the system is being abused and what it means for a Labour government trying to cut immigration. Hosted by Stephen Carroll and Yuan Potts.Listen to the Bloomberg UK Politics podcast on Apple, Spotify or anywhere you listen. Read the full investigation.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 a look ahead to home sales data and earnings from Target. In the UK – a look ahead to the Qatar Economic Forum. In Asia – a look ahead to earnings from Baidu. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Keir Starmer's plan to reset Britain's relationship with the EU has been met with challenges, particularly on immigration and defense, during negotiations with European leaders. (2) Hopes faded for a Ukraine ceasefire after Vladimir Putin sent a low-level delegation to talks in Turkey, while attention shifted to bids on Capitol Hill for fresh sanctions to bring the Russian leader to the negotiating table. (3) At least five sizable companies are considering initial public offerings on European stock exchanges in the coming weeks, taking advantage of easing market volatility. (4) Britain may be able to squeeze more out of its richest 1% despite them already paying a quarter of all personal tax revenues, according to the UK spending watchdog. (5) Exclusive: UK Visa Scams Squeeze Millions From Would-Be Care Workers. Recent changes to immigration policy won’t do anything for people who’ve been exploited while seeking jobs in the UK. But they may worsen the care-worker shortage. Podcast Conversation: Why Are the British Becoming So French?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 named a group of low-level officials to represent his government at talks with Ukraine in Turkey, and gave no indication that he planned to join the negotiations. (2) Foreign ministers in NATO are gathering to discuss the future of European security. The diplomats meet in Turkey this morning to establish the agenda for the alliance's annual summit in June, where the US has made a higher defense spending target a priority. (3) Burberry’s new boss is calling time on the British fashion label’s decade-long attempt to join the upper ranks of global luxury. (4) The White House said President Donald Trump had secured deals totaling more than $243.5 billion with Qatar, laying the groundwork for a bigger $1.2 trillion economic pledge with the tiny Gulf country. (5) The UK is drawing up plans for a special visa for foreigners who invest significant sums in Britain, as Prime Minister Keir Starmer’s government seeks to blunt the economic blow from recent tax hikes and wider curbs on work permits. (6) Stephen Jen, a long-time market veteran who runs Eurizon SLJ Capital, has become so discouraged by the fiscal largesse he’s seen from the new administration that he’s started to wonder if the US needs a bond-market blowup akin to the one that did in UK Prime Minister Liz Truss’s government to force it to change course. Podcast Conversation: Uber Eats Is the Newest Place to Book Prime Restaurant TablesSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region. (2) President Donald Trump and Saudi Crown Prince Mohammed bin Salman touted a pledge for $1 trillion in commercial deals in Riyadh on Tuesday, a staggering figure that doesn’t quite stand up to scrutiny. (3) President Donald Trump said a luxury jet being offered by the government of Qatar would be used as a temporary Air Force One, indicating an intention to accept a gift that has sparked ethical and security concerns in Washington. (4) It's only been 6 weeks since the UK's non-dom tax regime ended. It gave wealthy individuals favourable tax treatment for overseas earnings. Now Italy is proving an early winner in the race to attract wealthy investors from the UK. (5) NATO allies have started cobbling together an agreement to significantly boost defense spending in a way that may assuage US President Donald Trump’s demand to spend 5% of economic output on the military. (6) The UK and EU are in the toughest stage of talks to agree a common security pact, Defence Secretary John Healey said, as the government seeks to secure access to European spending programs for British firms.Podcast conversation:The Designer Who Taught American Women How to DressSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) UK pension fund managers have agreed to invest at least 5% of their assets at home, marking a win for the Labour government that’s seeking to boost the economy by drawing billions of pounds into local startups and infrastructure projects.(2) Most Asian stock markets rose, following a rally in US equities, on optimism the US-China trade truce marks the end to an all-out tariff war. (3) Xi Jinping’s decision to stand his ground against Donald Trump could hardly have gone any better for the Chinese leader. (4) UK counter-terrorism police are investigating a fire that took place in the early hours of Monday morning at a residential London home owned by Prime Minister Keir Starmer. (5) Apple is planning to use artificial intelligence technology to address a frequent source of customer frustration: the iPhone’s battery life. Podcast conversation: Samsung Debuts $1,099 S25 Edge, Kicking Off Wave of Thin PhonesSee 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 China will temporarily lower tariffs on each other’s products, according to a joint statement, in a move to cool trade tensions and give the world’s two largest economies three more months to resolve their differences.(2) Investors rushed back into stocks and risk assets, powering a 3% surge in S&P 500 futures, after China and the US agreed to cut tariffs and de-escalate a trade war that had sown turmoil in global markets. Treasuries and gold tumbled.(3) Treasury Secretary Scott Bessent also told press the positive mood music set by the UK and Swiss teams was in stark contrast to the EU.(4) Shares of pharmaceutical companies fell across the world after US President Donald Trump said he planned to order a cut in US prescription drug costs to bring them in line with other countries, prompting concern that profits will take a hit.(5) UniCredit has posted first-quarter profit that topped analyst expectations, as net income in the first three months of the year rose to €2.77 billion(6) Donald Trump’s effort to secure peace in Ukraine is reaching a decisive moment with Ukraine’s Volodymyr Zelenskiy challenging Vladimir Putin to engage in talks this week. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US and China both reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating a trade war, marking what Chinese Vice Premier He Lifeng called “an important first step” toward resolving differences. (2) The UK will increase English-speaking requirements for migrants, and make it harder for them to stay in the country as part of efforts to rein in levels of net immigration that have touched records in recent years. (3) Donald Trump’s effort to secure peace in Ukraine is reaching a decisive moment with Ukraine’s Volodymyr Zelenskiy challenging Vladimir Putin to engage in talks this week. (4) After four days that saw the worst fighting between India and Pakistan in half a century, as well as some nuclear saber-rattling, Donald Trump on Saturday declared that both countries had reached a “FULL AND IMMEDIATE CEASEFIRE.” (5) As President Trump reconfigures global trade, the euro is riding its biggest rally in two decades and traders including Amundi and Templeton say that's just the beginning. (6) President Donald Trump’s administration is likely to accept a luxury Boeing 747-8 jumbo jet from Qatar’s royal family, in what may be the most valuable gift ever received from a foreign government, ABC News reported Sunday. Podcast conversation: The Airline Hack One Entrepreneur Uses Not to Miss a ConnectionSee 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 eco data and earnings from the retail giant, Walmart. In the UK – a look ahead to Portugal’s general election. In Asia – a look ahead to Japan industrial production, PPI, and GDP data. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is considering a significant tariff reduction in talks with China to ease economic pain and de-escalate tensions. The US aims to reduce tariffs below 60% as a first step, which China may be prepared to match, with progress possible as soon as next week. (2) The new trade deal between the US and UK includes a carve-out for autos, which could reduce the tariff levy from 27.5% to 10%, making a 0.1% difference to UK GDP. The deal's impact is limited because almost half of UK value-add that ends up in the US is exported via other countries, and global uncertainty remains a major drag on the UK economy. (3) US President Donald Trump’s trade policy is upending long-held alliances, threatening global growth and causing mayhem for business. For UK homeowners, though, it is working out quite well. In the last few weeks, several major high street lenders have cut mortgage deals below 4% for the first time in months. (4) Mayor of London Sadiq Khan will “actively explore” building on the city’s green belt in what would amount to the biggest change to housing policy in the UK capital since the 1960s. The mayor will announce a consultation on releasing parts of London’s green belt in a speech Friday, saying that some building in the protected zone around the city is necessary to meet the capital’s targets and to end a housing crisis. (5) Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church. Prevost, 69, chose the name of Leo XIV for his pontificate and was greeted by thousands of cheering faithful as he stepped out onto a balcony overlooking St. Peter’s Square to be presented to the world.See omnystudio.com/listener for privacy information.