Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. (2) Japan likely conducted its first currency intervention since 2022 to prop up the yen on Monday, according to a Bloomberg analysis of central bank accounts. (3) Chancellor of the Exchequer Jeremy Hunt has warned the UK's financial watchdog over its plans to name firms it's investigating at an early stage, a rare political intervention against Britain's top finance regulator. (4) New York City police officers surged onto Columbia University's campus late Tuesday, breaking up an escalating protest and arresting pro-Palestinian demonstrators who had barricaded themselves in a building. (5) Rishi Sunak urged Conservative Party faithful in a pre-election speech to take part in "the greatest comeback in political history," a tacit admission of the long odds the prime minister faces in local votes across England 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) HSBC CEO Noel Quinn is unexpectedly stepping down after nearly 5 years in the job, triggering a search for a replacement at Europe's largest bank. (2) The US Treasury ramped up its estimate for federal borrowing for the current quarter to $243 billion, more than most dealers had anticipated, in a move that largely reflected weaker cash receipts than officials had expected. (3) A pair of traders in Hong Kong have left Societe Generale after the French bank discovered a batch of risky bets that went undetected by the firm's risk-management systems, according to people familiar with the matter. (4) Surveying the fallout triggered by the resignation of Scotland's First Minister Humza Yousaf, one man appears set to be the biggest beneficiary: the leader of the UK's main opposition Labour Party, Keir Starmer. (5) Elon Musk's net worth is soaring after it plunged to the lowest level in almost a year. In the past five days, the world's third-richest person has gained $37.3 billion in net worth, according to the Bloomberg Billionaires Index. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Bloomberg Economics' Fed sentiment index — powered by a natural language processing algorithm based on more than 60,000 Fed headlines — shows that in December, Powell delivered a major pivot. By hinting at a swifter shift toward rate cuts, he gave markets a boost and helped the economy dodge a downturn. (2) The yen swung in holiday-thinned market conditions, punching through 160 per dollar to touch its weakest in 34 years before erasing all its losses for the day and rebounding strongly. (3) Scotland's First Minister Humza Yousaf may step down, according to UK media reports. The Sunday Times says he's preparing to resign today, but the BBC says the SNP leader has not yet made a final decision on his position. (4) Elon Musk's surprise visit to China appears to have paid immediate dividends, with Tesla Inc. clearing two key hurdles to introduce its driver-assistance system to the world's biggest auto market. (5) British taxpayers are paying more and more for a planning system buckling under the strain of years of under funding and increasingly strident NIMBYism. 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.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off. For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Microsoft and Google owner Alphabet sent a clear message to investors on Thursday: Our spending on artificial intelligence and cloud computing is paying off. The companies trounced Wall Street estimates with their latest quarterly results, lifted by a surge in cloud revenue — fueled in part by booming use of AI services. (2) The Bank of Japan held interest rates steady and simplified its language on bond-buying, an outcome that prompted the yen to set a fresh 34-year low amid ongoing concerns of possible currency intervention. (3) UK consumer confidence edged higher this month as easing inflation and the prospect of further tax cuts made people more willing to spend, a survey found. (4) Israel is stepping up preparations for a potential all-out war with Hezbollah, as the risk of a devastating new phase in the country's conflict with Iran and its proxy militias grows more acute. (5) The investor Peter Cowley has a third book out. "Public Success, Private Grief" charts the entrepreneur and angel investor's struggles through alcoholism, the loss of two of his sons and now a terminal cancer diagnosis. He joins us for an exclusive interview to discuss his life and what others can learn from his experiences. 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 Group proposed a takeover of Anglo American that values the smaller miner at £31.1 billion ($38.8 billion), in a deal that would catapult the combined company’s copper production far beyond its rivals while sparking the biggest shakeup in the industry in over a decade. (2) Deutsche Bank's trading revenue rose 7% in the first quarter, more than analysts had expected and better than most of the biggest US investment banks (3) Barclays posted first-quarter revenue that topped analyst estimates after its stock traders collected a surprise windfall from tumultuous global markets. (4) BNP Paribas fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank. (5) President Joe Biden signed a $95 billion national security package into law and said assistance to Ukraine would begin to move within "hours," capping off a bruising fight with Republicans over long-delayed assistance for Kyiv and other besieged US allies. (6) Shares in Meta have dropped by as much as 19% in after-hours trading, after the social media giant said it plans to spend billions of dollars more than expected this year. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Shares in Meta have dropped by as much as 19% in after-hours trading, after the social media giant said it plans to spend billions of dollars more than expected this year. (2) The world's largest mining company, BHP Group, has made a takeover approach for rival Anglo American, a move that could spark the biggest shakeup in the industry in over a decade. (3) BNP Paribas fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank. (4) Deutsche Bank relied on its traders and investment bankers to make up for a slowdown in income from lending, as Chief Executive Officer Christian Sewing seeks to deliver on an ambitious revenue goal. (5) President Joe Biden signed a $95 billion national security package into law and said assistance to Ukraine would begin to move within "hours," capping off a bruising fight with Republicans over long-delayed assistance for Kyiv and other besieged US allies. (6) Now that President Joe Biden has signed off on a law that could expel TikTok from the US market, Beijing must decide how best to retaliate over an attack on the world's most-valuable start-up. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Tesla is accelerating the launch of less-expensive cars in a bid to revive sagging demand following another disappointing quarter. (2) The Senate passed a long-delayed $95 billion emergency aid package for Ukraine and other besieged US allies, clearing the way for resumed arms shipments to Kyiv within days. (3) Rishi Sunak pledged to increase defense spending to 2.5% of GDP by end of the decade, as the prime minister seeks to ease concerns at home and abroad about the level of investment in the British armed forces. (4) Kering warned that profit will plunge in the first half of the year as the crisis at Gucci, its biggest brand, deepens. (5) Traders in the US interest-rates market have started to put on wagers that the Federal Reserve will refrain from cutting borrowing costs this year. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Rishi Sunak’s government is preparing to get the first deportation flights to Rwanda off the ground by July after the UK prime minister’s flagship law to declare the African nation a “safe” destination for asylum seekers cleared its final hurdle in Parliament. (2) The UK will send more Storm Shadow long-range missiles to Ukraine as part of its single biggest military aid package to the country since Russia’s invasion, Prime Minister Rishi Sunak said. (3) Goldman Sachs' head of dealmaking for financial institutions in Europe, the Middle East and Africa has relocated to Paris and is planning to double headcount for his team in the city as M&A between banks and insurers accelerates. (4) The FTSE 100 Index closed at a record high for the first time in more than a year, as recent equity market volatility and geopolitical risks prompted investors to pile into the defensive sectors that characterise the UK benchmark. (5) Some investors and analysts are questioning whether CEO François-Henri Pinault is the right man to overhaul Gucci’s parent Kering at this critical juncture. 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 approval of more than $60 billion in aid throws a lifeline to Ukraine’s beleaguered military, though it’s unlikely to turn the tide in the war on its own. (2) After years of working to assure the US government that its popular social media app isn’t a threat to national security, TikTok’s loss in that fight now seems almost inevitable. (3) The European Central Bank won’t be swayed from a first interest-rate cut in June by oil price uncertainty, Governing Council member Francois Villeroy de Galhau said. (4) Asking prices for UK homes rose at the highest annual pace in 12 months, driven by more high-end houses coming to market, according to the online sales portal Rightmove. (5) Tesla is consumed by chaos in shift to Musk’s robotaxi dream: the stock is sliding, a cheaper electric car is deprioritized and the CEO is riling the workforce with his biggest layoffs yet. 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) Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone barrage, according to two US officials, but Iranian media appeared to downplay the incident in the hours that followed the initial reports. (2) Oil and gold surged, then retreated, after Iranian media appeared to downplay retaliatory strikes following last weekend’s unprecedented bombardment of Israel. (3) The strikes comes hours after a top Iranian general said his country may reconsider its nuclear policies if Israel threatens to attack its atomic sites, an implicit warning that Tehran might race toward a nuclear weapon as rhetoric continued to escalate in the wake of its April 13 drone and missile attack. (4) Netflix posted its best start to the year since 2020, attracting more new customers than anyone expected thanks to a strong slate of original programs and a crackdown on password sharing. (5) Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalized by the UK government, according to contingency plans drawn up by officials. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Bank of England Governor Andrew Bailey said the UK and the rest of Europe are facing less of an inflation threat than the US, opening the prospect of a rate cut for Britain before the Federal Reserve moves. (2) Federal Reserve Chair Jerome Powell is making life tougher for his peers around the world as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere. (3) Europe's economy is nearing the end of a malaise that's resulted in more than a year of near stagnation, according to European Central Bank President Christine Lagarde. (4) The European Union's waning clout versus major geopolitical rivals is sounding alarm bells in Europe's capitals, compelling leaders to discuss a radical transformation to boost the bloc's competitiveness in a hostile world. (5) The world's two great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with American spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said. 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 slowed less than expected last month as fuel prices crept higher, prompting traders to unwind bets on interest rate cuts. (2) Bank of England Governor Andrew Bailey hinted that the UK might be able to lower interest rates before the US, saying inflation dynamics in the two economies are diverging. (3) UK Chancellor of the Exchequer Jeremy Hunt said the prospect of interest rate cuts later this year would lift the mood of voters, hinting that Prime Minister Rishi Sunak won't call a general election until the fall. (4) Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings. (5) Jamie Dimon has told Bloomberg that AI will transform banking, but it will also lead to job losses. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings. (2) Bank of England Governor Andrew Bailey hinted that the UK might be able to lower interest rates before the US, saying inflation dynamics in the two economies are diverging. (3) UK Chancellor of the Exchequer Jeremy Hunt said the prospect of interest rate cuts later this year would lift the mood of voters, hinting that Prime Minister Rishi Sunak won't call a general election until the fall. (4) The US will impose new sanctions on Iran targeting the country's missile and drone program following its weekend attack on Israel that threatened to push the Middle East into a wider conflict. (5) Jamie Dimon has told Bloomberg that AI will transform banking -- but it will also lead to job losses. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Top Israeli military officials reasserted that their country has no choice but to respond to Iran's weekend drone and missile attack, even as European and US officials boosted their calls for Israel to avoid a tit-for-tat escalation that could provoke a wider war. (2) China announced faster-than-expected economic growth in the first quarter – along with some numbers that suggest things are set to get tougher in the rest of the year. (3) Federal Reserve Bank of New York President John Williams has told Blomberg the central bank will likely start lowering interest rates this year if inflation continues to gradually come down. (4) Goldman Sachs's back-to-basics approach is paying off as it posted profits that vaulted past expectations. (5) The UK will criminalise the creation of sexually explicit deepfake images as part of plans to tackle violence against women. 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 huge salvo of missiles and drones launched from the arid plains of Iran toward Israel was the kind of direct conflict between the Middle East powers that the world had long feared would mark the explosion of a full-blown regional war. (2) Iran’s weekend attack on Israel with more than 300 missiles and drones marks a perilous turn for a fragile region. It was an unprecedented action, the first strike on the Jewish state from Iranian soil. Iran declared it a massive success. (3) Oil shrugged off Iran’s unprecedented attack on Israel, with prices easing on speculation that the conflict would remain contained. But markets are showing higher volatility as global traders turn to the dollar and gold.(4) Apple’s iPhone shipments slid a bigger-than-projected 10% in the March quarter, reflecting flagging sales in China despite a broader smartphone industry rebound. (5) German Chancellor Olaf Scholz will take a delicate message to China this week: Beijing has not acted on European warnings to end discriminatory business practices and failure to do so will result in an escalation in tensions. 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) Morgan Stanley shares fell the most in five months after a report that a cadre of US regulators are scrutinising the firm’s efforts to prevent potential money laundering by wealthy clients. (2) The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts. (3) The UK economy grew for a second month in February, suggesting a recovery from recession is now under way. Gross domestic product rose 0.1% from January, the Office for National Statistics said Friday, in line with the gain forecast by economists. (4) Ex-Federal Reserve Chair Ben Bernanke is set to deliver his verdict on the Bank of England’s forecasting process on Friday at noon London time. Ahead of publication time, we look at the three most important questions the review poses for markets (5) Credit traders at Barclays and HSBC are among those making a market for clients to bet against the debt of Thames Water amid an escalating crisis at the UK’s largest water utility. See omnystudio.com/listener for privacy information.