In The City

Former Munich Security Conference Chair Wolfgang Ischinger joinsVoternomics to explain the new European project he says is needed. Plus, Bloomberg reporter Michael Nienaber discusses why German Chancellor Olaf Scholz's popularity remains at historic lows while the far-right AfD party may see gains in the European parliament next month. See omnystudio.com/listener for privacy information.

David Merritt speaks with senior editor Tom Metcalf and Bloomberg Opinion columnist Paul J. Davies about the consequences of changing the financial crisis-era policy.See omnystudio.com/listener for privacy information.

Ben Page, chief executive of market research company Ipsos, joins Voternomics this week to outline what he's discovered about voters and what they think about their politicians, governments and economies. He tells Stephanie Flanders and Allegra Stratton that trust in politics is the “lowest we've ever measured.” Also on this episode, Flanders, Stratton and Adrian Wooldridge ask Bloomberg Opinion columnist John Authers whether—given the question of when the Federal Reserve will cut interest rates between now and the election—the central bank can remain above the political fray.See omnystudio.com/listener for privacy information.

Nobel laureate and economics professor Joseph Stiglitz joins Francine Lacqua, Allegra Stratton and Adrian Wooldridge to explain why he feels the political right has warped the true meaning of freedom.See omnystudio.com/listener for privacy information.

Karen Ward, J.P. Morgan Asset Management's chief market strategist for EMEA, joins this week to explain why politicians are being punished for the sins of central banks. Ward, a former Bank of England economist and adviser to both UK Chancellors Philip Hammond and Jeremy Hunt, tells Stephanie Flanders, Allegra Stratton and Adrian Wooldridge about the damage done as a result of missteps when it comes to inflation. Plus, Bloomberg News editor Craig Trudell unpacks how Elon Musk is driving on both sides of the US-China relationship. See omnystudio.com/listener for privacy information.

On this week's episode of In the City, Senior Executive Editor Will Kennedy and Bloomberg Opinion columnist Javier Blas join to discuss the takeover bid that's set the mining industry alight. We're talking about BHP's offer for Anglo American—how the offer came together, what happens next and what it means for the future of FTSE. See omnystudio.com/listener for privacy information.

Welcome to the first episode of Voternomics. On this podcast, Stephanie Flanders, Bloomberg's head of government and economics coverage, Allegra Stratton, author of Bloomberg's The Readout newsletter and Bloomberg Opinion columnist Adrian Wooldridge discuss how voters have the opportunity to affect markets, countries and economies like never before. Historian Niall Ferguson and Bloomberg Washington reporter Nancy Cook join our hosts to give their take on this unique moment in time. Ferguson explains why he believes the 2024 US presidential election isn't about foreign policy, why Donald Trump is using his 2016 campaign strategy and why the second Cold War is escalating faster than the first. See omnystudio.com/listener for privacy information.

The Bank of England has found itself caught in the middle of a global divide over who will cut interest rates first—and when. Senior UK economy reporter Phil Aldrick joins David Merritt, Francine Lacqua and Allegra Stratton on this week's In the City to explain the two schools of thought, and their implications.See omnystudio.com/listener for privacy information.

The deadly April 1 airstrike on Iran's consulate in Syria and Iran's retaliation against Israel with a drone and missile attack changed the “rules of engagement” right before our eyes, according to geopolitical strategist Tina Fordham. “This is the most significant uptick in Middle East risk for 20 years.”Fordham is the founder of Fordham Global Foresight, an independent consultancy dedicated to advising boards and C-suite executives on geopolitical, socio-economic and financial risks. She joins David Merritt and Francine Lacqua on this week's In the City to discuss the Israel-Hamas war, the resulting carnage in Gaza and how long-standing tensions between Israel and Iran are coming to a head. She also addresses what happens next and what it means for stability in the region as well as global markets. See omnystudio.com/listener for privacy information.

Britain's biggest supplier of water is in trouble.  The parent company of Thames Water is at risk of running out of money, having been forced to deal with a seemingly endless series of leaks and sewage spills while struggling to adapt to global warming and its effect on London's future. So how did it get into this big of a mess, and is there a way out? Bloomberg reporter Jess Shankelman joins this week's In the City with Allegra Stratton and Ailbhe Rea to discuss. See omnystudio.com/listener for privacy information.

Anthony Scaramucci, a Wall Street veteran and former communications director in Donald Trump's White House, joins Francine Lacqua and Bloomberg Opinion columnist Adrian Wooldridge on this week's In the City to explain why he thinks a second Trump presidency would be “dangerous.” He also talks about why he isn't voting for his former boss and why he doesn't think the majority of Americans will either.See omnystudio.com/listener for privacy information.

Hamdi Ulukaya, the founder of the billion-dollar Chobani yogurt empire, is on a mission to convince companies everywhere that helping refugees is good business. It's the guiding principle behind his nonprofit Tent Partnership for Refugees, a global network of companies committed to integrating refugees into the labor market. Ulukaya joins this week's episode of In the City with hosts Francine Lacqua and Allegra Stratton to discuss the launch of the Tent UK coalition.See omnystudio.com/listener for privacy information.

The Big Take from Bloomberg News brings you inside what's shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.See omnystudio.com/listener for privacy information.

Former European Union Brexit negotiator Michel Barnier says the bloc is “in a sense at a crossroad.” With European Parliament elections set for June and focus turning to the far right, which is forecast to make gains, deep concern is rising for many in Europe— including Barnier. On this week's episode of In the City, he speaks with Francine Lacqua on the sidelines of the Bank of America conference in Rome.  Also on this episode, Bloomberg Opinion columnist Adrian Wooldridge joins to discuss Barnier's comments. Wooldridge said he sees a surge in right-wing populism defining the European elections, and predicts it will “upend a lot of conventional wisdom of how politics should work in Europe.” See omnystudio.com/listener for privacy information.

“I would be lying if I said anything other than 2023 was extremely difficult, personally,” says Erin Platts, the former chief executive of Silicon Valley Bank UK. A year ago this month, Platts oversaw the unit's emergency takeover by HSBC amid a meltdown in the US regional banking sector. Platts, who now runs the rescued iteration of the bank, joins Francine Lacqua and Allegra Stratton on this week's In the City to explain why she feels the episode showed the strength of the UK regulation regime.See omnystudio.com/listener for privacy information.

The In the City team analyzes the UK finance minister's offerings and whether they're enough to stave off defeat at the polls. Allegra Stratton, Francine Lacqua and Adrian Wooldridge host. See omnystudio.com/listener for privacy information.

The Deal, hosted by Alex Rodriguez and Jason Kelly, features intimate conversations with business titans, sports champions and game-changing entrepreneurs who reveal their investment philosophies, pivotal career moves and the ones that got away. From Bloomberg Podcasts and Bloomberg Originals, The Deal is available on Apple Podcasts, Spotify, iHeart, Bloomberg Carplay, or wherever you get your podcasts. You can also watch The Deal on Bloomberg Television, and Bloomberg Originals on YouTube.See omnystudio.com/listener for privacy information.

What is Jeremy Hunt's plan for the UK budget this week? Where are tax and spending plans heading? Will any version of the budget make a dent in the Labour Party's lead in the polls?UK government reporter Joe Mayes, creator of the UK budget game, joins this week's In the City to explore those questions and outline what options he believes the Chancellor of the Exchequer has available to him. Hosts Francine Lacqua, Allegra Stratton and Bloomberg Opinion columnist Adrian Wooldridge also ask about the Conservative Party's attitude toward its election chances and what we might expect to see from a Labour budget should the party come to power in the next election.See omnystudio.com/listener for privacy information.

Rishi Sunak is calling for the proceeds from frozen Russian assets to go to Ukraine. But concerns have been raised over whether such a maneuver would be legal. Stephanie Baker, a senior reporter on Bloomberg's investigations team, joins to explain how “financial engineering” can address that.Check out Stephanie Baker's upcoming book Punishing Putin: https://rb.gy/34qik3See omnystudio.com/listener for privacy information.

Robert Pickering, once the chief executive of former private British investment bank Cazenove, joins to discuss his book Blue Blood: Cazenove in The Age of Global Banking and reflect on London's banking landscape. He says that competitive pay is a big problem and that “too many regulations” are getting in the way of snaring top talent. Discussing the prospect of NatWest's retail offer, Pickering says there's an ethical dilemma at work.See omnystudio.com/listener for privacy information.

Miles Celic, chief executive of TheCityUK, the trade body which represents financial and professional services in Britain, joins Francine Lacqua and David Merritt on In the City  this week. They discuss what the business sector wants to see in the budget next month, what it expects from a Labour government and why holding regulators accountable can be more important than which party is in power. See omnystudio.com/listener for privacy information.

“The most undervalued real estate market in the world today, without a doubt, is the Middle East,”  says property tycoon Nick Candy. Joining host Francine Lacqua on this week's episode of In the City, Candy says he would be “running” to the region if he were in his twenties and starting up in real estate again. He also explains why when it comes to the UK government's leadership, he thinks it's time for a change, and why it'd be impossible for him to build a project like One Hyde Park in London now. See omnystudio.com/listener for privacy information.

UK Economic Secretary to the Treasury Bim Afolami says he wants to connect the public to equities and private markets. He shares his strategy for doing so with Allegra Stratton and Francine Lacqua.See omnystudio.com/listener for privacy information.

A rematch between US President Joe Biden and Donald Trump is looking more likely since Florida Governor Ron DeSantis dropped out of the Republican race and former South Carolina Governor Nikki Haley came in second in New Hampshire. Coupled with recent polls pointing to Biden's unpopularity with many Americans, politicians and business leaders all over the world are bracing for the possibility that the twice-impeached Trump could return to the Oval Office. On this week's episode of In the City, Stephanie Flanders, Bloomberg's Head of Economics and Government, joins Francine and Allegra to lay out what preparations may look like for another four years of Trump.See omnystudio.com/listener for privacy information.

Misinformation and disinformation generated by artificial intelligence was near the top of the World Economic Forum's report on global threats this year. But it's not just AI that's the culprit — it's also “politicians willing to exploit, distribution patterns over social networks, the capacities of media organizations to verify." Azeem Azhar, creator of the Exponential View, a platform dedicated to in-depth technology analysis and Saadia Zahidi, managing director at the WEF, join hosts Francine Lacqua and David Merritt in Davos to discuss the risk that AI poses to the global order--and why its impact is in our hands. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: Europe Edition delivers today's top stories, with context, in just 15 minutes. Available every morning by 7am GMT in your feed. Subscribe On AppleSubscribe On SpotifySubscribe On Youtube Subscribe On Podcast Addict Subscribe On AudibleSee omnystudio.com/listener for privacy information.

Every January, Eurasia Group puts out a list of the ten most important threats that will preoccupy world leaders, business decision-makers and the rest of the world in the year ahead. On this week's In the City, the political risk consultancy's founder and president, Ian Bremmer, tells us the biggest geopolitical risk stems from America's political dysfunction.He also discusses Elon Musk's role in a divided America and warns that the Middle East war will escalate. But for some positivity, he points out that although artificial intelligence is a risk in 2024, it also represents a transformative economic opportunity that could usher in a second wave of globalization. Check out the list of Top Risks:https://www.eurasiagroup.net/issues/top-risks-2024See omnystudio.com/listener for privacy information.

Will the UK economy rally, stall or dive in 2024? What will British house prices do? Where is inflation heading and has the Bank of England interest rate peaked at 5.25%? On the last 2023 episode of In the City, senior reporters Phil Aldrick and John Stepek join host Francine Lacqua to answer those questions and share their outlook for the UK economy next year. See omnystudio.com/listener for privacy information.

Spending on big-ticket items like home renovations will be limited, but more affordable gifts are growing in popularity—including the “snuggle hoodie.” Bloomberg Opinion columnist Andrea Felsted and UK retail reporter Katie Linsell join Allegra and Francine to unpack the retail landscape this holiday season and what we can expect in 2024. See omnystudio.com/listener for privacy information.

Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

“Nice people become horrible people” during an election year, says Richard Harrington. But as the ex-Tory minister who recently led a government review of the UK's approach to attracting foreign investment, he adds that he hopes his recommendations will be embraced by Labour and Conservatives, rather than being “sucked into” a political fight.  On this week's episode of In the City, Harrington joins Francine Lacqua and Allegra Stratton to discuss why the UK's attractiveness as an investment destination has faded. A former parliamentary under secretary of state at the Department for Business, Energy and Industrial Strategy, Harrington complains the government is “old fashioned” and disorganized.See omnystudio.com/listener for privacy information.

When former Unilever Chief Executive Officer Paul Polman was approached by Kraft Heinz with an offer many would find too good to refuse—a $143 billion takeover bid with a personal payout of $110 million—he says he turned it down. “They think everything is for sale,” he says. “Morals are not for sale.”Polman, 67, who worked for Procter Gamble and Nestle before Unilever, joins David Merritt and Francine Lacqua on this week's In the City  to share lessons he learned while CEO, and why he says running a company is more than maximizing shareholder returns. “If you would listen to all the shareholders and do what they were asking you to do, your company would be bankrupt before you knew it.”See omnystudio.com/listener for privacy information.

Former Unilever CEO Paul Polman cautions those with high expectations for this week's summit in Dubai. But he says there's hope in the private sector. He joins Dave and Fran as the COP28 climate summit kicks off. See omnystudio.com/listener for privacy information.

Hear Francine's full interview with Prime Minister Rishi Sunak. They discuss his plan for the economy, cutting taxes, election timing, and the situation in the Middle East. See omnystudio.com/listener for privacy information.

Francine Lacqua sat down with Allegra Stratton, Editor-in-Chief John Micklethwait, Opinion Columnist Adrian Wooldridge and Head of Government and Economics Stephanie Flanders to discuss the Autumn Statement at the UnHerd club in Westminster. See omnystudio.com/listener for privacy information.

Rishi Sunak's government is running out of time to win back voters. Bloomberg City editor Katherine Griffiths joins In the City hosts David Merritt, Francine Lacqua and Allegra Stratton to unpack Chancellor Jeremy Hunt's pledges in this week's budget. See omnystudio.com/listener for privacy information.

Jennifer Welch, chief geoeconomic analyst at Bloomberg Economics, joins to discuss how Joe Biden and Xi Jinping came together for a successful meeting following a long chill.We also unpack the reception Xi got from top American business executives at an exclusive dinner, as well as the surprising announcement that former UK prime minister David Cameron was returning to politics. See omnystudio.com/listener for privacy information.

Martha Lane-Fox, president of the of the British Chambers of Commerce, said she sees Brexit as the main issue facing UK businesses. “Brexit affected the skills base full-stop,” she said on this week's episode of In the City. Fox joined NFX General Partner Pete Flint for a panel discussion hosted by Bloomberg's Stephen Carroll at the GROW Summit in London. Flint said he's optimistic about the UK's chances of replicating a San Francisco-style hub of business success, describing the country as “a great environment for immigrants to come.” But there's still a way to go, he added. “I would absolutely not advise any company that I'm backing to go public in the UK.” See omnystudio.com/listener for privacy information.

At Bloomberg, we're always talking about the biggest business stories, and no one is bigger than Elon Musk. In this new chat weekly show, host David Papadopoulos and a panel of guests including Businessweek's Max Chafkin, Tesla reporter Dana Hull, Big Tech editor Sarah Frier, and more, will break down the most important stories on Musk and his empire. Listen wherever you get your podcasts.See omnystudio.com/listener for privacy information.

Andrew Griffith explains on this week's In the City that the British capital can act as an “honest broker” on digital currencies and artificial intelligence. Griffith joins David Merritt for a conversation in New York City, where he was meeting with investors and talking to firms about how London can factor into their futures.See omnystudio.com/listener for privacy information.

This week, the UK government is hosting global leaders and business executives in Bletchley Park, north of London, for the first major meeting on artificial intelligence. But what exactly can Britain contribute when it comes to understanding—and managing—the future of AI?Bloomberg technology editor Nate Lanxon, co-host of the Bloomberg Originals series AI IRL, says the UK effort to get in early on AI regulation is a smart one. He joins this week's In the City with hosts Francine Lacqua and Allegra Stratton to explain why. See omnystudio.com/listener for privacy information.

On this week's In the City, we look at Crown Prince Mohammed bin Salman's vision of regional prosperity, and whether it can survive the Israel-Hamas war. Saudi bureau chief Matthew Martin joins Francine Lacqua at the Future Investment Initiative in Riyadh, with Allegra Stratton and David Merritt joining from London. See omnystudio.com/listener for privacy information.

Rishi Sunak is the latest leader headed to Israel. The Gaza hospital attack “should be a watershed moment for leaders in the region and across the world to come together to avoid further dangerous escalation of conflict,” the UK PM said. But how likely are efforts by Sunak, Biden and other Western leaders to prevent the conflict, which in just 11 days has killed thousands on both sides, from escalating? In this week's In the City, hosts Francine Lacqua, David Merritt and Allegra Stratton are joined by Bloomberg news director Rosalind Mathieson to try and tackle that question. See omnystudio.com/listener for privacy information.

In his podcast debut, C.S. Venkatakrishnan, Barclays chief executive officer, says stagnant deal activity, easing volatility and peaking interest rates are set to compound pressure on bank earnings. Despite tentative signs of activity returning at the start of September, Venkatakrishnan tells David and Francine that a dealmaking revival is still looking “a little further away.” They also discuss the IPO market, cricket and Taylor Swift.This conversation was taped on Oct. 5, 2023. See omnystudio.com/listener for privacy information.

Are the bulls about to return to Britain? Positive outlooks for UK equities are breaking through the clouds. London Stock Exchange Chief Executive Julia Hoggett says it's about time. Hoggett also discusses executive pay, saying the UK's restrictions are hindering companies' efforts to recruit top talent and undermining a push to make the City of London more appealing to businesses post-Brexit.See omnystudio.com/listener for privacy information.

The pound is notoriously difficult to trade. It's a “graveyard for G-10 traders,” says Mark Cudmore, senior macro strategist for Bloomberg's Markets Live blog. When it comes to making calls on the British currency, he says, “people only ever lose money.” Cudmore joins reporter Sofia Horta e Costa on this week's In the City to try and make sense of why markets are again turning on sterling, just one year after ex-Prime Minister Liz Truss's spending plans drove the pound to a record low.See omnystudio.com/listener for privacy information.

They say time heals all wounds. But it seems the damage done to the UK economy by Liz Truss's disastrous mini-budget last year has yet to be forgiven by investors. According to a new Bloomberg survey, about two-thirds of UK finance professionals said an outright win for Keir Starmer's Labour Party or a Labour-led coalition would be the “most market-friendly outcome.”Senior reporters Phil Aldrick and John Stepek join to discuss the survey and what its findings tell us about the City's thinking heading into the next general election.See omnystudio.com/listener for privacy information.

A decline in growth in China may take some heat out of the global economy, helping bring down inflation. But a full stop would trigger deep recessions. Bloomberg Economics Chief Economist Tom Orlik joins this week for a conversation on what China's slowdown means for the rest of the world, and in particular the UK.See omnystudio.com/listener for privacy information.

Capitalism as we know it isn't really working, according to economist and author Mariana Mazzucato. Take the current concrete crisis across UK schools. For Mazzucato, that's a case of too little being spent on the school buildings themselves. But there's another problem: lax regulation. If we continue to weaken the rules in the name of a stronger economy, she says, we risk tragedy.  Mazzucato, a professor in the economics of innovation and public value at University College London, joins this week's episode of In the City to discuss the re-release of her book, The Entrepreneurial State: Debunking Public vs. Private Sector Myths. The book has been credited with provoking widespread debate about the role of government in innovation.See omnystudio.com/listener for privacy information.

Karen Ward, EMEA chief market strategist at JP Morgan Asset Management and a key adviser to Chancellor of the Exchequer Jeremy Hunt, joins hosts Francine Lacqua and David Merritt to unpack key points by central bankers who attended the Jackson Hole Economic Symposium, and what it all means for the BOE and the UK. For the latter, the answer is recession.See omnystudio.com/listener for privacy information.

Britain's eligible pension savers need to return to work, earn for longer and save more—otherwise they might find retirement less than stress free. That's the warning from Andy Briggs, chief executive of Phoenix Group, in conversation with Francine Lacqua on this week's episode of In the City. They discuss the plight of retired people over the age of 50 and how the UK pension system compares with those of other countries.See omnystudio.com/listener for privacy information.