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. 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 was found guilty in the first criminal trial of a former US president in the nation’s history, a verdict that could reshape the political landscape five months before Election Day. (2) President Joe Biden will allow Ukraine to launch US-provided munitions against military targets inside a limited area of Russia, overcoming concern that any such move could provoke a wider war with the West. (3) US officials have slowed the issuing of licenses to chipmakers such as Nvidia Corp. and Advanced Micro Devices Inc. for large-scale AI accelerator shipments to the Middle East, according to people familiar with the matter, while officials conduct a national security review of AI development in the region. (4) Czech billionaire Daniel Kretinsky, who plans to purchase the company that owns UK’s Royal Mail, says the British postal service needs new investment to be competitive. (5) Just hours after South African President Cyril Ramaphosa confidently predicted that the ruling party would easily retain its three-decade stranglehold on politics, it was increasingly clear that voters had other ideas — sending the country into uncharted terrain. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) BHP has decided against making a firm offer for Anglo American, instead walking away for now from what would have been the biggest mining deal in over a decade. (2) Jamie Dimon said he expects problems to emerge in private credit and warned that "there could be hell to pay," particularly as retail clients gain access to the booming asset class. (3) The European Central Bank is set to take the unprecedented step of imposing fines on several lenders for their protracted failure to address the impact of climate change. (4) Saudi Arabia is preparing to formally launch a secondary offering of shares in oil giant Aramco as soon as Sunday, a deal that could raise more than $10 billion and rank among the largest of its kind in recent years. (5) Wall Street firms are buying up family-owned businesses from electricians to pest control. The UK's richest plumber has regrets about selling out. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Ukraine must be allowed to target missile crews inside Russia with European-supplied weapons, according to French President Emmanuel Macron. (2) Germany and France have agreed to make rapid progress to deepen the European Union’s capital markets to boost investment in the bloc after years of discussions, French President Emmanuel Macron said. (3) Keir Starmer’s poll-leading opposition Labour Party is seeking to reassure the City of London it is not considering further taxes on Britain’s banks if it wins power at the UK general election on July 4. (4) The White House said an Israeli strike on an encampment in Rafah that left dozens dead was devastating but would not cause President Joe Biden to freeze additional arms shipments to the country. (5) With just hours left on the clock, advisers for BHP Group and Anglo American Plc were still struggling to find a breakthrough to salvage BHP’s ambitious $49 billion takeover plan. 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 killing of an Egyptian soldier in a clash with Israeli troops at a Gaza border crossing on Monday further inflamed regional tensions after an Israeli airstrike killed an estimated 45 Palestinians at a camp for displaced people. (2) The Labour party has won the endorsement of 120 business executives who have said that a “new outlook” is needed so the UK can “break free” from a decade of economic stagnation in a letter to The Times. (3) Prime Minister Rishi Sunak will promise pensioners a tax cut if his Conservatives upset the odds and win the general election, the latest gambit to try to shore up the core vote as internal polling showed the Tories could lose more than 100 seats due to the resurgence of the right-wing Reform UK party. (4) Price increases at UK retailers fell in early May to their lowest level in more than two years, adding to signs of an improving economic outlook. (5) The US stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules. See omnystudio.com/listener for privacy information.

In this Holiday Edition of Bloomberg Daybreak: We take a look at markets and inflation's impact on equities with Alicia Levine of BNY Mellon and Invesco's Brian Levitt We check in on the strength of the global economy with Bloomberg's Michael McKee and Anna Wong. Plus, we get some travel tips for the summer with The Points Guy, Brian Kelly. Hosted by Nathan Hager 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. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) In the City of London, executives are looking forward to the imminent general election as a chance for clarity after a turbulent few years. (2) A two-speed global economy skewed by US strength is overshadowing this week’s Group of Seven meeting as officials confront the prospect of less synchronized monetary policies. (3) Segantii is shutting down and returning capital to investors after an insider trading charge in Hong Kong sparked concerns about a flood of redemptions, according to people familiar with the matter. (4) Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter. (5) Alphabet and Meta Platforms have held discussions with major Hollywood studios about licensing content for use in the tech giants’ artificial intelligence video generation software, according to people familiar with the matter. (6) Citigroup, HSBC Holdings and Barclays are ordering more staffers to report to company offices five days a week as regulatory changes make it trickier for Wall Street to allow working from home. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Standing in the rain and being drowned out by protesters playing the Labour Party’s 1997 victory anthem “Things Can Only Get Better” will not have been Rishi Sunak’s preferred backdrop for his announcement naming the date of the next UK election. (2) UK Prime Minister Rishi Sunak’s decision to stake the Conservative Party’s future on a rare summer election was so secret that even his chancellor of the exchequer, Jeremy Hunt, appeared surprised by the plan. (3) Nvidia the chipmaker at the center of an artificial intelligence boom, gained in late trading after a bullish sales forecast showed that AI computing spending remains strong. (4) Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target. (5) BHP Group just won an extra week to convince Anglo American Plc on its $49 billion takeover plan. But the world’s biggest miner still must resolve the deal’s most intractable obstacle: What to do about South Africa? See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) UK inflation cooled less than expected last month due in part to lingering price pressures at restaurants and pubs, threatening to delay interest rate cuts from the Bank of England. (2) European Central Bank President Christine Lagarde indicated that an interest-rate cut is probable next month with the rapid gain in consumer-price growth now largely contained. (3) Two Federal Reserve officials reinforced a higher-for-longer message on interest rates, emphasizing a need for patience as the central bank waits for more evidence inflation is moving lower. (4) Barclays is among Wall Street firms weighing whether to require scores of workers to commute to company offices five days a week, as US brokerage regulators enact new rules for supervising work at home. (5) Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries. BYD which overtook Tesla. 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 chief prosecutor for the International Criminal Court said Monday he is seeking arrest warrants for Israeli Prime Minister Benjamin Netanyahu and Hamas leader Yahya Sinwar on war crimes charges. (2) Raisi’s death in Iran opens questions over Khamenei succession. In Saudi Arabia, the Crown Prince has canceled trips over King Salman’s ill health. This is another complicating factor in Washington's push for a US dense agreement with Riyadh (3) The chief executive officer of JPMorgan, Jamie Dimon, told shareholders the timetable is “not five years anymore,” in response to a question about how long he planned to remain CEO. The largest US bank is “well on the way” with its succession plans, he said during the firm’s investor day. (4) Martin Gruenberg will step down as head of the Federal Deposit Insurance Corp. after findings of a toxic work environment put the regulator at the center of a heated political fight and fueled calls for his removal. (5) Cleveland Fed President Loretta Mester said policy is restrictive, but policymakers need to wait for more evidence about the path of inflation before adjusting interest rates. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Iranian President Ebrahim Raisi has been killed in a helicopter crash in a mountainous area of the country. Rescuers on Monday found the helicopter that had been carrying the president and other officials including Foreign Minister Hossein Amirabdollahian, who also died, the semi-official Mehr news agency reported. (2) The death of Iranian President Ebrahim Raisi in a helicopter crash raises the immediate question of who will succeed him in running the government. (3) Israel's Prime Minister Benjamin Netanyahu is facing increasing pressure from the other two members of the country's war cabinet. Opposition leader Benny Gantz says he'll resign from the cabinet if Netanyahu doesn't adopt a new post-war strategy in Gaza. (4) London still leads European cities in attracting foreign direct investment in financial services, with the UK's share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed. (5) Buyout firms splurged on low-margin British consumer companies, seduced by bargain prices and cheap money. Higher interest rates are upending that wager. See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) China’s retail sales grew at the slowest pace since 2022 while industrial production accelerated, highlighting the unbalanced recovery of the world’s No. 2 economy. (2) China removed the floor on mortgage rates and lowered the minimum down payment ratios for individual homebuyers in its most drastic move to shore up the beleaguered property market. (3) Jamie Dimon tells Bloomberg that when it comes to China, the right thing for America is to “fully and deeply” engage. (4) Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates. (5) Governments and companies want the clean fuel to play a big role in fueling the continent. If they’re wrong, the planet will be worse off than before. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Slovak Prime Minister Robert Fico suffered life-threatening injuries after being shot in public, the first assassination attempt on a European leader in more than two decades that underscores the deep polarization in the country. (2) Chinese President Xi Jinping signaled to Vladimir Putin that ties between the two nations remain strong, as the Russian leader embarks on a new term with the war in Ukraine dragging into its third year. (3) The US Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday. Wall Street traders sent stocks to all-time highs as bond yields slumped after an inflation slowdown reinforced bets the Federal Reserve will cut interest rates as early as September. (4) Ben Bernanke said there is growing interest within the Bank of England over publishing its own interest-rate projections, one of the strongest signals yet that the central bank is mulling a major communications shake-up. (5) HSBC is leaning towards appointing its next chief executive officer from a shortlist of internal candidates as it begins its hunt for a successor to outgoing boss Noel Quinn. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. (2) China blasted the Biden administration's move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics. (3) Federal Reserve Chair Jerome Powell said the US central bank must be patient and wait for evidence that inflation continues to cool, doubling down on the need to keep borrowing costs elevated for longer. (4) Britain's failure to complete its sustainable finance framework is putting billions of pounds worth of funding at risk, according to a UK investor association representing £19 trillion ($24 trillion) of assets. (5) The UK government has pushed back against a number of recommendations designed to combat sexism and misogyny in the finance industry. 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 Emmanuel Macron says he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc's future prosperity. (2) Goldman Sachs Chair and CEO David Solomon discusses France becoming more business friendly and the outlook for Europe. (3) Bank of America Chairman and CEO Brian Moynihan says US consumers, helped by wage growth, remain in good shape even amid elevated interest rates. (4) The UK and Saudi Arabia will host a joint summit in Riyadh today, aimed at boosting economic ties between the two countries as negotiations continue over a broader trade deal between Britain and the Gulf states. (5) Anglo American has rejected a second approach from BHP that valued the miner at $43 billion, as pressure builds on the 107-year old company to lay out a compelling vision to survive on its own. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Vladimir Putin replaced his long-serving defense minister with a trained economist in an unexpected change of guard that signals the focus on growing the Russian war economy more than two years after the invasion of Ukraine. (2) Ukraine's leader Volodymyr Zelenskiy called on his people not to panic amid Russia's ongoing advance in the Kharkiv region that's jeopardizing a local city. (3) Rishi Sunak will pitch himself as the best candidate to achieve a "more secure future" for Britain in a political speech designed to re-capture the narrative ahead of the UK general election, just over a week after his party suffered heavy losses in local votes. (4) President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week, unveiling the measures at a White House event framed as a defense of American workers, people familiar with the matter said. (5) the Norwegian oil and gas giant Equinor has quietly picked up the crown that once belonged to Russia's Gazprom . Norway now supplies 30% of the bloc's gas; Gazprom provided about 35% of all Europe's gas before the war. 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. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Britain bounced back strongly from a shallow recession, providing some relief for Prime Minister Rishi Sunak who has so far struggled to deliver on his promise to grow the economy. (2) President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said. (3) Israeli Prime Minister Benjamin Netanyahu struck a defiant tone against President Joe Biden after the US withheld a shipment of bombs as a warning to its top Middle East ally not to invade the southern Gaza city of Rafah. (4) After months in which the Bank of England and markets have been at loggerheads over the direction of interest rates — with the US Federal Reserve more powerful in shaping expectations than words from the UK central bank — they have now fallen roughly into line. (5) Arm Holdings shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence spending spree is slowing. (6) In a small side room, roughly 40 people, including some of Wall Street’s most senior executives of color, crowded around a rectangular array of tables for an invitation-only panel and confronted hedge fund manager Bill Ackman for his attacks on diversity, equity and inclusion, or DEI, initiatives, according to five attendees. See omnystudio.com/listener for privacy information.