Bloomberg Daybreak delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 2,700 journalists and analysts in 120 countries.
On today's podcast: 1) China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides. 2) Apple Inc.’s much-awaited quarterly earnings report failed to soothe investor concerns about its biggest challenges, including escalating tariff costs and a slowdown in China. 3) President Donald Trump will request a record $1.01 trillion in national security spending for the fiscal year beginning Oct. 1, more than 13% over the current year’s figure, according to administration officials familiar with the matter.See omnystudio.com/listener for privacy information.
On today's podcast: 1) Microsoft Corp. shares jumped after the company reported stronger-than-expected quarterly sales and profit growth, suggesting customer demand for cloud services has held steady despite a wave of tariffs and economic turbulence. 2) Meta Platforms Inc. quelled Wall Street concerns about the impact of the Trump administration’s trade war on advertising sales, reporting first-quarter revenue that beat expectations and forecasting additional spending. 3) The US and Ukraine reached a deal over access to the country’s natural resources, offering a measure of assurance to officials in Kyiv who had feared that President Donald Trump would pull back his support in peace talks with Russia.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Trump marks his first 100 days in Michigan car country and hits the Fed as he defends sweeping tariffs. Trump criticized Federal Reserve Chairman Jerome Powell, saying he's "not really doing a good job" and that Trump knows more about interest rates than Powell does. He also defended his economic policies, including tariffs, which he claims will inspire economic growth and lure manufacturers back to the US.2) Amazon says it will not display the cost of tariffs on products. Amazon will not display the cost of US tariffs on products after the White House criticized the reported move and President Donald Trump called Jeff Bezos to complain. The company said the idea was never a consideration for the main Amazon site and nothing has been implemented on any Amazon properties.3) Microsoft and Meta release earnings after the closing bell. Investors are cautiously optimistic, but the bullish Big Tech proposition is coming under scrutiny, with four of the Magnificent Seven reporting earnings this week.See omnystudio.com/listener for privacy information.
On today's podcast: 1) Canada’s Liberal Party is projected to win a fourth consecutive election, giving a mandate to former central banker Mark Carney after a campaign in which he pledged to boost economic growth and stand up to US President Donald Trump in a trade war.2) President Donald Trump is on track to ease the impact of his auto tariffs, with changes sought by the industry that would lift some levies on foreign parts for cars and trucks made inside the US.3) Spain and Portugal were returning to some semblance of normality early Tuesday, with many questions remaining about what caused one of Europe’s worst blackouts in years across the Iberian peninsula the previous day.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. 2) Donald Trump promised Americans a “boom like no other” if they elected him president. But based on the stock market’s performance during his first 100 days in office, it depends on what you mean by “boom. 3) Canada is holding an election on April 28, with the Liberal Party led by Mark Carney and the Conservative Party led by Pierre Poilievre as the top contenders.See omnystudio.com/listener for privacy information.
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the April jobs report and big tech earnings. In the UK – a look ahead to local elections. In Asia – a look ahead to China PMI data. See omnystudio.com/listener for privacy information.
On today's podcast: 1) European stocks surrendered most of an early advance and Wall Street futures pared gains as China played down progress in its trade dispute with the US. 2) Google parent Alphabet Inc. reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business. 3) Apple Inc. is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.See omnystudio.com/listener for privacy information.
China Says U.S. Should Revoke Tariffs; Trump Approval Rating DropsOn today's podcast: 1) China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal, maintaining a a tough stance despite President Donald Trump’s easing of criticism of the country2) The Trump administration is considering whether to reduce certain tariffs targeting the auto industry that carmaker executives have warned would deal a severe blow to profits and jobs. 3) The New York Times is reporting President Trump’s approval rating has sunk to about 45 percent, down from 52 percent one week after he took office.See omnystudio.com/listener for privacy information.
1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.2) President Donald Trump said he plans to be “very nice” to China in any trade talks and that tariffs will drop if the two countries can reach a deal, a sign he may be backing down from his tough stance on Beijing amid market volatility.3) Elon Musk vowed to pull back “significantly” from his work with the US government and pay more mind to Tesla Inc., assuaging investors concerned about the carmaker’s worst quarter in years.See omnystudio.com/listener for privacy information.
On today's podcast: 1) US stocks are set to bounce back from Monday’s losses as investors nervously weighed up progress on trade talks with India and Tesla’s upcoming earnings. Gold topped $3,500 for the first time. 2) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell. 3) Harvard University sued several US agencies and top officials for freezing billions of dollars in federal funding, significantly ratcheting up a high-stakes showdown with the Trump administration.See omnystudio.com/listener for privacy information.
On today's podcast:1) Pope Francis, who encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy, has died. He was 88.Francis passed away at 7:35 a.m. Monday in Rome, the Vatican said in a statement. He had been hospitalized in Rome in mid-February with bronchitis, which progressed to pneumonia in both lungs — the last in a litany of respiratory and other medical challenges he had faced. On Sunday, he had met with US Vice President JD Vance. 2) The New York Times is reporting Defense Secretary Pete Hegseth sent sensitive information about strikes in Yemen to an encrypted group chat that included his wife and brother, people familiar with the matter said.Defense Secretary Pete Hegseth shared detailed information about forthcoming strikes in Yemen on March 15 in a private Signal group chat that included his wife, brother and personal lawyer, according to four people with knowledge of the chat.Some of those people said that the information Mr. Hegseth shared on the Signal chat included the flight schedules for the F/A-18 Hornets targeting the Houthis in Yemen — essentially the same attack plans that he shared on a separate Signal chat the same day that mistakenly included the editor of The Atlantic.3) China warned countries against striking deals with the US that could hurt Beijing’s interests, upping the ante in the trade war with Washington and showing how others risk getting caught in the middle.While it respects nations resolving their trade disputes with the US, Beijing “resolutely opposes any party reaching a deal at the expense of China’s interests,” the Ministry of Commerce said in a statement Monday. If that happens, Beijing “will never accept it and will resolutely take reciprocal countermeasures,” the ministry added. “China is willing to strengthen solidarity and coordination with all parties, jointly respond and resist unilateral bullying acts.”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 home sales data and Tesla earnings. In the UK – a look ahead to how companies across Europe and beyond are preparing to share their latest financial performances with the market. In Asia – a look ahead to how some Chinese companies are looking to skirt U.S President Donald Trump’s tariffs. See omnystudio.com/listener for privacy information.
On this special holiday edition of Bloomberg Daybreak US edition, host John Tucker discusses President Trump recent criticism of Fed Chair Powell with Michael McKee and Stuart Paul. He also talks about ETF inflows with Eric Balchunas and looks at the future of antitrust litigation with Jennifer Rie. See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Trump's optimism on trade is lifting stocks following yesterday's selloff on Wall Street. Positive signals from initial US-Japan trade talks stirred optimism agreements can be reached to avoid higher levies on American trading partners.2) Fed Chair Jay Powell says tariffs make a challenging scenario for the Federal Reserve. Powell on Wednesday signaled a wait-and-see approach to tariffs, pushing back on hopes the central bank would act quickly to soothe investor fears. His comments, along with concerns over the impact of tariffs on the tech sector, helped end a two-day consolidation in stocks.3) Harvard continues to push back against pressure from the White House. Harvard University's refusal to comply with a Trump administration deal to require it to reform its governance and end diversity programs is resulting in retribution. The administration's freezing funding of 2.2 billion dollars of multiyear grants, accusing Harvard of mishandling antisemitism on campus. President Trump says the school should lose its tax-exempt status and several outlets reported that the IRS is considering the issueSee omnystudio.com/listener for privacy information.
On today's podcast: 1) Nvidia slides after it warns Trump's curbs on China chips will cost it billions. The US government has restricted Nvidia from selling its H20 chip in China, escalating the tech battle between Washington and Beijing. Restrictions and trade war concerns are expected to negatively impact chip-sector earnings and China's ambitions to compete on the global tech stage.2) China says it is open to trade talks if President Trump's Administration shows more respect. China wants the US to show more respect by reining in disparaging remarks by members of Trump's cabinet before agreeing to trade talks. Beijing also wants a more consistent US position and a willingness to address China's concerns around American sanctions and Taiwan.3) Investors await a key speech by Fed Chair Jay Powell. Powell is making a speech in Chicago as traders look for hints on how the Fed will manage rates as President Trump aims to implement his tariff policy, and they're also following retail sales data today.See omnystudio.com/listener for privacy information.
On today's podcast: 1) China orders a halt to Boeing jet deliveries in another salvo of the US-China trade war. China ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The standoff is a setback for Boeing, which relies heavily on the Chinese market, and could impact the company's sales and supply chains.2) US Treasury Secretary Scott Bessent downplays the recent bond market selloff in an exclusive discussion with Bloomberg. He says the Treasury has a lot of tools it could use should it need to step in, but says there's no signs it needs to right now.3) Harvard fights back against President Trump's $9 billion funding fight. University President Alan Garber rejected the Trump administration's demands to combat antisemitism, citing threats to academic freedom and interference in higher education. In response, a government task force plans to freeze $2.2 billion of multiyear grants to Harvard, which could impact the university's research, medicine, and public health programs.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Trump warns his pause on import duties on phones, computers and popular consumer electronics are just temporary. The president has exempted certain electronics from tariffs, but says it's a temporary measure and that a different tariff will be applied to the sector soon. Trump plans to announce a tariff rate for semiconductors in the coming week and is open to discussing the scope of the tariff with companies.2) Bank Earnings continue with Goldman Sachs reporting this morning. Despite the strong trading revenue, investors are concerned about the impact of tariffs and recession fears on all of the big banks' performance, and executives are expected to continue to strike a cautious tone.3) Jeff Bezos' Blue Origin is launching an all-women crew on its New Shepard rocket, including Katy Perry, Bezos' fiancée Lauren Sánchez, and other notable women, on a roughly 11-minute trip to the edge of space. This launch is Blue Origin's 11th human spaceflight, following recent successes and challenges, including a workforceSee omnystudio.com/listener for privacy information.
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S Retail sales and earnings from Netflix. In the UK – a look ahead to next week’s ECB meeting. In Asia – a look ahead to earnings from TSMC. See omnystudio.com/listener for privacy information.
On today's podcast: 1) China will raise tariffs on all US goods from 84% to 125% starting April 12 and will ignore any further US tariff increases. It comes as President Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation. Areas of US-China trade that could be next in line for Chinese retaliation include education, travel, financial services, computing services, and films and entertainment.2) Billionaire Ray Dalio tells Bloomberg the tariff turmoil has damaged the US reputation for reliability, but that's not one of his primary concerns about the US economy and outlook for a recession. While the Bridgewater founder considers a US recession likely, geopolitical tensions and potential for diplomatic breakdowns are a global threat in Dalio's eyes.3) New York City officials investigate a deadly helicopter crash in the Hudson River. The sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot. The crash is the latest in a string of incidents that has rattled confidence in US aviation safety, following a deadly midair collision last year and other helicopter crashes around New York City.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation. 2) European stocks opened sharply higher, tracking Wall Street’s late-Wednesday rally, after President Donald Trump paused most of his sweeping tariff hikes. US equity futures fell, however, suggesting the euphoria is already dissipating. 3) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the world into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump’s so-called reciprocal tariffs are now in place, dealing a thunderous blow to the world economy as he pushes forward efforts to drastically reorder global trade. 2) China hasn’t immediately responded to the new US tariffs, a departure from the last two episodes when President Donald Trump hiked duties and Beijing hit back within minutes. 3) A vicious sell-off in what are supposed to be the world’s safest assets has investors grasping for reasons behind the steep declines in Treasuries which accelerated Wednesday.See omnystudio.com/listener for privacy information.
On today's podcast: 1) Stocks staged a modest recovery as investors looked for dip-buying opportunities while awaiting clarity on how President Donald Trump’s trade policies will play out. 2) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies. 3) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration.See omnystudio.com/listener for privacy information.
On today's podcast: 1) The carnage in financial markets unleashed by President Donald Trump’s tariffs is continuing unabated as equities get pummeled and US stock futures show that last week’s $5 trillion wipeout isn’t over. 2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon. 3) Traders expect the Federal Reserve to slash interest rates another five times this year as the US administration’s trade tariffs ignite fears of a global recession.See omnystudio.com/listener for privacy information.
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – an eco look ahead post Trump-tariffs, and also a discussion on how the retail sector may be impacted. In the UK – a look at the BOE’s quarterly report on the stability of the UK's financial system. In Asia – a look at President Trump’s additional 34% tariff on Chinese goods and how that may impact U.S, China relations. Also, a look at how tariffs will impact U.S, Australia relations. See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Trump says he's open to tariff cuts in return for phenomenal offers. President Trump indicated that more tariffs are on the way, specifically mentioning pharmaceuticals, and reiterated his willingness to offer tariff relief for China if Beijing approves the sale of TikTok's US operations. 2) Investors await a jobs report and a speech on the economy by Fed Chair Jay Powell. US hiring likely remained healthy last month with the unemployment rate holding steady at a historically low level of 4.1%. 3) Republicans consider a higher rate for millionaires in their sweeping tax cut bill. Senate Republicans unveiled a budget blueprint that would fast-track a renewal of President Donald Trump's tax cuts and an increase to the nation's borrowing limit.See omnystudio.com/listener for privacy information.
The “America First” trade is unraveling in the sweeping turmoil in global markets, with stocks acutely exposed to the US economy sinking alongside the dollar. As Wall Street’s rebellion against Donald Trump’s tariff war intensifies, traders are rushing into fixed-income havens.About $2 trillion was erased from the S&P 500, with the gauge down about 5%. The Russell 2000 of smaller firms extended its plunge from a 2021 all-time high to 20% on speculation the president’s trade offensive will stunt the American economy. The greenback slid 1.5%, reigniting the debate about its haven reputation during challenging times as the euro, yen and Swiss franc surged. Oil joined a selloff in commodities.All in, the much-vaunted America-first trade — buying up assets that win when the US outperforms the rest of the world — is reversing on concern that the steepest increase in American tariffs in a century will hammer economic growth.That’s driving a fierce rally in global bonds, sending the yield on benchmark Treasuries briefly below the closely-watched 4% level. Most other yields also tumbled as money markets priced in a 50% chance of the Federal Reserve delivering four quarter-point rate reductions this year.Trump has embraced tariffs as a tool to assert US power, revive manufacturing at home and extract geopolitical concessions. Economists say the near-term result of his measures will likely be higher US prices and slower growth, or perhaps even a recession.Listen for comprehensive coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Carol Massar and Tim Stenovec.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump imposed the steepest American tariffs in a century as he steps up his campaign to reshape the global economy, sparking threats of retaliation and a selloff in markets around the world. 2) Donald Trump’s shake-up of the global trading system is hurting US assets more than those in many of the big economies he has just slapped with additional tariffs. 3) Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps against President Donald Trump’s new set of retaliatory tariffs.See omnystudio.com/listener for privacy information.
On today's podcast: 1) Voters in Wisconsin push back on Elon Musk and Republicans in Florida fend off Democrats. Elon Musk-backed candidate, Brad Schimel, lost a Wisconsin judicial race despite Musk pouring millions into the campaign, with Susan Crawford winning 55% to 45%. Republicans held onto two House seats in Florida, winning about 57% of the vote in both districts, but with smaller margins than in the November general election. 2) The world waits as President Trump's tariff announcement comes down to the wire. President Trump's team is finalizing plans for reciprocal tariffs to be unveiled on Wednesday, with multiple proposals under consideration, including a tiered tariff system and a customized reciprocal plan. The tariffs are expected to take immediate effect, with countries able to negotiate to bring rates down, and could apply widely, even to countries with which the US doesn't have a trade imbalance. 3) The SALT tax deduction could get a boost in Republicans' massive tax bill. Republicans are drafting a tax bill that includes increasing the state and local tax deduction to up to $25,000 for an individual, a major victory for swing-district House Republicans.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump will announce his reciprocal tariff push on Wednesday during an event in the White House Rose Garden, his top spokeswoman said. 2) President Donald Trump initially criticized Russian President Vladimir Putin, but then shifted his criticism to Ukrainian President Volodymyr Zelenskiy, accusing Ukraine of trying to renegotiate an economic deal with the US. 3) In a quarter marred by tariff uncertainty, US government spending cuts and the threat of recession, it is fears about a bubble brewing in artificial intelligence that have dealt the latest blow to the Nasdaq 100.See omnystudio.com/listener for privacy information.
Check out the new Stock Movers Podcast from Bloomberg. Subscribe for five-minute episodes on today's winners and losers in the stock market. Listen on Apple: https://apple.co/4kJ43ON Listen on Spotify: https://tinyurl.com/mr385jv6 Listen on other platforms: https://link.podtrac.com/h0zn7xirSee omnystudio.com/listener for privacy information.
On today's podcast: 1) President Trump says he plans to start his reciprocal tariff push with all countries. Trump's tariffs are set to be unveiled on April 2 and will aim to rebalance global trade and boost US manufacturing. The Trump administration has not yet outlined what tariffs are coming, how they'll be calculated, or what countries will need to do to secure exemptions. 2) The president threatens Russian oil penalties if Vladimir Putin refuses a ceasefire with Ukraine. Trump said he was "very angry" at Vladimir Putin and threatened "secondary tariffs" on buyers of Russian oil if Putin refuses a ceasefire with Ukraine. Trump also threatened to punish Tehran with unspecified "secondary tariffs" and raised the threat of bombing Iran until it signs a deal that renounces nuclear weapons. 3) Elon Musk says his role at DOGE is costing him a lot in terms of his job as CEO of Tesla. Musk's political activities have led to a 45% drop in Tesla shares since their peak last year, causing his personal wealth to decline by over $100 billion this year.See omnystudio.com/listener for privacy information.
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.• In the US – a preview of US March jobs and a look at the potential impact of auto tariffs. • In the UK – an assessment of NATO's position amid growing global tensions.• In Asia – a preview of the Reserve Bank of Australia's next rate decision. See omnystudio.com/listener for privacy information.
On today's podcast: 1) The US looks to control nearly all investment in Ukraine as President Trump pushes for ceasefire with Russia. the US is pushing for a deal that would give it control over major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv's other allies. 2) Defense Secretary Pete Hegseth faces Signal questions on his first trip to Asia. President Donald Trump dismissed the disclosure of Houthi attack plans in a Signal chat as a “glitch” with no impact on national security. However, intelligence experts argue that the disclosure gave foreign adversaries priceless insight into US spycraft. 3) Elon Musk says he can slash a trillion dollars from the Federal budget before this summer. Musk believes his Department of Government Efficiency can find that level of cost savings within 130 days from the start of Trump's term.See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump signed a proclamation to implement a 25% tariff on auto imports and floated further duties on the EU and Canada, expanding a trade war and triggering threats of retaliation. 2) Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for US consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla Inc. 3) President Donald Trump and top allies struggled to fend off criticism over the inadvertent inclusion of a journalist in a Signal chat discussing military attacks in Yemen, after newly disclosed texts showed how Defense Secretary Pete Hegseth revealed specific operational details.See omnystudio.com/listener for privacy information.
On today's podcast: 1) US tariffs on copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. Copper traded in New York rose to a record. 2) President Donald Trump said his administration was investigating the addition of a journalist to a text group of top officials discussing plans for military strikes in Yemen, but expressed support for national security adviser Michael Waltz. 3) Average Wall Street bonuses surged last year, with the total pool for payouts jumping to a record $47.5 billion as industry profits soared.See omnystudio.com/listener for privacy information.
On today's podcast: 1) The Atlantic’s top editor said he was added to a text group in which top US officials discussed detailed plans to bomb Houthi targets in Yemen with other top US officials, an extraordinary breach of security from an administration that has repeatedly vowed to clamp down on leaks. 2) President Donald Trump said he will announce tariffs on automobile imports in the coming days — and indicated nations will receive breaks from next week’s “reciprocal” tariff 3) Federal Reserve Bank of Atlanta President Raphael Bostic said he now sees just one interest-rate cut as likely this year, rather than two, with tariff hikes impeding progress on disinflation.See omnystudio.com/listener for privacy information.
Stock Movers is a new, five-minute podcast on today's winners and losers in the stock market. Listen for analysis on the companies making news in markets. Listen on Apple: https://podcasts.apple.com/us/podcast/stock-movers/id1803209456 Listen on Spotify: https://open.spotify.com/show/1LhpIazkwQ9bSkxHsjknI8?si=1233c9c58f1e4e16&nd=1&dlsi=b25af9cebbca4895 Listen Anywhere: https://link.podtrac.com/h0zn7xirSee omnystudio.com/listener for privacy information.
On today's podcast: 1) Markets get a lift on word President Trump's tariffs will be more targeted. President Trump is preparing to announce "reciprocal tariffs" on April 2, targeting countries that have tariffs or barriers on US goods, but excluding some nations and blocs. 2) Separate ceasefire talks continue between the U-S, Ukraine and Russia. The White House aims to reach a truce agreement in the Russia-Ukraine war by April 20, but recognizes that the timeline may slip due to large gaps between the two sides' positions. 3) Mark Carney takes aim at Trump as he launches his election campaign in Canada. Canadian Prime Minister Mark Carney has called an election for April 28, with polls showing a close contest between his Liberal Party and the Conservatives.See omnystudio.com/listener for privacy information.
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of U.S CPI and PCE data, along with a look at the impact of tariffs on housing. In the UK – a preview of UK Chancellor Rachel Reeves’ spring statement. In Asia – a preview of Chinese EV Maker BYD’s earnings. See omnystudio.com/listener for privacy information.
1) London's Heathrow airport will be closed all day Friday due to a major power outage caused by a nearby fire at an electrical substation. The airport advises passengers not to travel to the airport, and disruptions are expected to continue over the coming days, with hundreds of flights already canceled. 2) President Trump denied a report that Elon Musk would be briefed on the American military's contingency planning for a potential war with China. Defense Secretary Pete Hegseth confirmed that Musk would visit the Pentagon, but characterized the meeting as an informal discussion about innovation, efficiencies, and smarter production. 3) President Trump signed an executive order to largely dismantle the Education Department, directing Education Secretary Linda McMahon to "take all necessary steps to facilitate the closure" of the department. The move is part of Trump's vision to overhaul the US government, with the goal of transferring the department's functions to states and reducing its workforce of over 4,000 employees by nearly half.See omnystudio.com/listener for privacy information.
On today's podcast: 1) Federal Reserve Chair Jerome Powell downplayed growth concerns and the impact of President Donald Trump's trade war on inflation, calling the inflationary effect of tariffs "transitory". 2) President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. 3) Ukrainian President Volodymyr Zelenskiy agreed to a proposal for a mutual halt to strikes on energy assets as an initial step in President Donald Trump’s effort to end the war that began with Russia’s full-scale invasion three years ago.See omnystudio.com/listener for privacy information.
Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.Federal Reserve officials held their benchmark interest rate steady for a second straight meeting, caught between mounting concerns that the economy is slowing and inflation could remain stubbornly high.Chair Jerome Powell acknowledged the high degree of uncertainty from President Donald Trump’s significant policy changes, but repeated the central bank is not in a hurry to adjust borrowing costs. He said officials can wait for greater clarity on the impact of those policies on the economy before acting.See omnystudio.com/listener for privacy information.