Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) A long-delayed ceasefire in the Gaza war began taking hold as Hamas released three hostages on Sunday in exchange for 90 Palestinians held in Israeli prisons. (2) US President-elect Donald Trump will sign close to 100 executive orders within hours of taking office, he says at a pre-inauguration dinner in Washington DC. (3) Donald Trump pledged to delay enforcement of a national security law that threatened to ban TikTok. Yet it’s not clear whether the app’s Chinese parent is able — or willing — to secure a US backer in time to avoid a permanent shutdown. (4) Hedge funds have long been regarded as notoriously expensive. New research reveals just how costly they truly are for their clients. (5) Asking prices for UK homes jumped by the most in over one-and-a-half years at the start of 2025, a sign of resilient confidence in the property market, according to Rightmove. 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.

We're bringing you a special podcast from our Bloomberg UK Politics show ahead of Donald Trump's inauguration. Nigel Farage is poised to attend the US Presidential inauguration. The architect of Brexit, Farage won a seat in Parliament after 30 years and his Reform UK party are currently second in opinion polls in the UK. But do his economic policies add up and what benefits might his close ties to Trump bring for the UK? Nigel Farage joins Bloomberg anchor Caroline Hepker and Finance reporter Will Shaw to discuss immigration, taxes, Elon Musk and AI. For more episodes like this you can subscribe to the UK Politics Podcast Apple: https://shorturl.at/1bYd6 Spotify: https://shorturl.at/ynb7u TuneIn: http://tun.in/pkKdn 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’s Prime Minister Benjamin Netanyahu said an agreement with Hamas to pause the war in Gaza has been finalized, suggesting it’s on track to begin on Sunday. (2) China’s economy hit the government’s growth goal last year after an 11th hour stimulus blitz and export boom turbocharged activity, although looming US tariffs threaten to take away a key driver of expansion. (3) Nigel Farage said Reform UK isn’t anti-immigration and advocated a mixture of tax and spending cuts as he sought to put a more moderate face on his insurgent party in a bid to take it from the political fringes to challenge for power. (4) Rio Tinto and Glencore have been discussing combining their businesses, which if successful would rank as the largest-ever mining deal and create a behemoth to rival longstanding leader BHP. (5) Treasury Secretary nominee Scott Bessent is on track to be confirmed following a confirmation hearing Thursday lacking the theatrics some of his would-be Trump administration colleagues have faced, with questions largely keeping to policy issues like the federal budget and trade tariffs. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Israeli Prime Minister Benjamin Netanyahu accused Hamas of reneging on parts of a ceasefire agreement that looked set to pause more than 15 months of fighting in Gaza, risking completion of the long-awaited deal. (2) Britain’s economy narrowly returned to growth in November but fell short of expectations as the UK struggles to shake off concerns that the country is in the grip of stagflation. (3) Wall Street breathed a sigh of relief after a surprise slowdown in inflation spurred a stock rally and a plunge in bond yields, reinforcing bets the Federal Reserve is on track to keep cutting rates this year. (4) President Joe Biden warned Americans of a “dangerous concentration of power” in the hands of a “very few ultra-wealthy people” and the impact he feared it would have on the country’s democracy as he delivered a farewell address Wednesday from the Oval Office. (5) The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a lack of rain and another round of winds forecast next week already has officials worried. 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 and Hamas agreed to a ceasefire deal that calls for releasing dozens of hostages and bringing a temporary halt to the war in the Gaza Strip that has killed tens of thousands of people in the last 15 months and touched off broader turmoil across the Middle East. (2) Wall Street breathed a sigh of relief after a surprise slowdown in inflation spurred a stock rally and a plunge in bond yields, reinforcing bets the Federal Reserve is on track to keep cutting rates this year. (3) Chancellor of the Exchequer Rachel Reeves has emerged relatively unscathed from a series of high-stakes public tests this week in the UK. Her next challenge will be proving to investors that she can shore up her battered economic agenda. (4) President Joe Biden warned Americans of a “dangerous concentration of power” in the hands of a “very few ultra-wealthy people” and the impact he feared it would have on the country’s democracy as he delivered a farewell address Wednesday from the Oval Office. (5) The dry, dangerous winds that have kept fire-scarred Los Angeles on edge for days are finally forecast to end — but a lack of rain and another round of winds forecast next week already has officials worried. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) South Korean investigators arrested President Yoon Suk Yeol on Wednesday after launching a pre-dawn operation to bring the impeached leader in for questioning over his short-lived martial law declaration. (2) The UK’s City minister Tulip Siddiq resigned from the government following an ethics review into allegations around her use and receipt of properties linked to the ousted Bangladeshi regime. (3) Forecasters expect a monthly report on US consumer prices to show a fifth month of firm increases, bolstering the case for an extended pause in Federal Reserve interest-rate cuts. (4) The European Central Bank is pushing back against investors who reckon firmer inflation, a surprisingly sturdy US jobs market and Donald Trump’s economic disruption will narrow the scope to lower interest rates. (5) Hot, dry winds are pummeling Los Angeles and surrounding areas of Southern California, raising wildfire risks through at least Wednesday as the region reels from blazes that have killed at least 24 people and burned neighborhoods to the ground. (6) The Biden administration is planning to impose tough new rules on exporting advanced chips to China. Bloomberg has learned the White House intends to announce the measures in the last few days of the current presidency. 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 UK is set to get an indication of investor appetite for gilts, with its first bond sale since turmoil gripped the market last week. (2) UK Prime Minister Keir Starmer said he has “full confidence” in Chancellor of the Exchequer Rachel Reeves and stressed that his government would stick to its fiscal rules in response to a surge in UK borrowing costs. (3) Chinese officials are evaluating a potential option that involves Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter. (4) The European Union is considering expanding its investigation into whether Elon Musk’s X social network breached its content moderation rulebook, the bloc’s top digital official said. (5) Southern California is facing another round of dangerous fire weather, as crews struggle to contain wind-driven blazes that have paralyzed Los Angeles for nearly a week and killed at least 24 people. (6) Members of President-elect Donald Trump’s incoming economic team are discussing slowly ramping up tariffs month by month, a gradual approach aimed at boosting negotiating leverage while helping avoid a spike in inflation, according to people familiar with the matter. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chancellor of the Exchequer Rachel Reeves returns to the UK from China on Monday with the Labour Party keen to brush off market turmoil around its fiscal difficulties and emphasise the government’s long-term ambitions. (2) Traders in the options market are preparing for the pound to tumble as much as 8% more as fiscal woes that prompted a painful selloff across UK markets last week weigh on the currency. (3) At least two rounds of vicious, dry Santa Ana winds are expected to blast through Southern California early this week, bringing powerful gusts that will challenge fire crews struggling to contain two destructive blazes and likely force thousands more residents to evacuate. (4) JPMorgan's Jamie Dimon said that tariffs, if properly used, can help resolve issues such as unfair competition and national security. (5) Amazon-founder and billionaire Jeff Bezos said the space industry has room for “multiple winners,” including his own firm Blue Origin LLC and the company it most hopes to challenge, Elon Musk’s SpaceX. See omnystudio.com/listener for privacy information.

It’s been a rough week for UK assets. The pound fell to its lowest level in a year, gilt yields surged and investors are losing confidence in the government’s ability to control the nation’s deficit and high borrowing costs. Why are things spiraling now? Senior reporter Phil Aldrick joins this week’s In the City to explain. 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) Chancellor of the Exchequer Rachel Reeves will become the most senior British official to visit Beijing in 7 years this weekend as she embarks on a mission to deepen economic ties with China against the backdrop of UK market turmoil that threatens to undermine her plans to spur growth domestically. (2) Britain’s market upheaval has put the spotlight on its Labour government this week, but economists say the Bank of England will also have to rise to the occasion by slowing interest rate cuts. (3) China’s central bank said it will suspend buying government bonds, its latest attempt to temper investor bets on weak economic growth that have undermined the currency and sapped confidence among businesses and consumers. (4) Atop Wall Street’s largest investment banks, executives are locking in plans to award traders and dealmakers their biggest bonus increases since the pandemic, with 10% hikes — or more — coming for many desks, according to people briefed on the plans. (5) Donald Trump’s obsession with Greenland has put the world’s largest island in an unexpected position of power. See omnystudio.com/listener for privacy information.

We want to bring you a special podcast from our Bloomberg UK Politics show after some major moves in the bond market. The UK government's borrowing costs have shot up this week as long-simmering worries over the UK economy appears to have hit a nerve with investors. In a special extended edition of the podcast, we explain why and what the Chancellor can do about it, with our Managing Editor for Foreign Exchange and Rates Rachel Evans, UK government Reporter Joe Mayes, and Bloomberg's Chief UK Economist Dan Hanson. Hosted by Lizzy Burden and Stephen Carroll. For more episodes like this you can subscribe to the UK Politics Podcast Apple: https://shorturl.at/1bYd6 Spotify: https://shorturl.at/ynb7u TuneIn: http://tun.in/pkKdn See omnystudio.com/listener for privacy information.

UK markets are facing further turmoil as gilt yields have hit multi-decade highs, the pound has been pummeled and equities have slumped. Concerns over stubborn inflation, a ballooning government debt pile and tepid growth have hit a nerve in recent days, with traders heaping pressure on the embattled Labour government. In a special bonus episode of the Bloomberg Daybreak Europe podcast, Bloomberg Opinion columnist Daniel Moss shares his assessment of the situation with Caroline Hepker and Stephen Carroll. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Plunging UK markets are serving a fresh warning about the British economy and heaping pressure on Keir Starmer’s embattled Labour government. (2) Chancellor of the Exchequer Rachel Reeves will favor fresh cuts to public spending over tax hikes if soaring UK borrowing costs wipe out her fiscal headroom. (3) The 92 global banks in Bloomberg Intelligence's coverage may see a 12-17% ($120-$180 billion) lift to 2027 pretax profit as artificial intelligence powers productivity gains, based on our survey of chief information and technology officers. Job cuts could reach 200,000 in 3-5 years, applying the 3% average expected cut cited in the anonymous survey to the group. (4) The selloffs that keep flaring in the world’s bond markets are pushing yields toward key thresholds amid escalating worries about elevated inflation, tempestuous politics and swelling government debts. (5) Los Angeles plunged into its worst natural disaster in decades as wildfires driven by hurricane-strength wind gusts tore through prosperous neighborhoods, killed at least five people and forced more than 100,000 residents to flee. 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 space of an hour, President-elect Donald Trump called for absorbing Canada, declined to rule out using military force to seize the Panama Canal and Greenland, demanded NATO allies spend 5% of GDP on defense and vowed “all hell would break loose” in the Middle East if Hamas doesn’t release Israeli hostages before he takes office. (2) President-elect Donald Trump said NATO nations should spend the equivalent of 5% of their economic output on defense, escalating his demands on European allies to more than double the current target. (3) The sister of Sam Altman accused the OpenAI chief executive officer of sexually abusing her for almost a decade, in a lawsuit filed in federal court. (4) Borrowers are flooding global debt markets at an unprecedented pace as they take advantage of demand from credit-hungry managers flush with cash. (5) A British politician said he had “almost zero confidence” in the integrity of Shein’s supply chain following a heated exchange with a representative of the fast-fashion retailer in London. (6) JPMorgan Chase is preparing to tell all its employees to return to the office five days a week, ending a hybrid-work option for thousands of staff and returning to the attendance policy that was in place before the pandemic. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Mark Carney, the former governor of the Bank of Canada and Bank of England, said he’s considering entering the race to replace Justin Trudeau as Canada’s prime minister. (2) Senior politicians in three of Britain’s biggest parties have privately urged Donald Trump’s allies to reconsider his relationship with Elon Musk, after the billionaire Tesla boss made a series of increasingly inflammatory remarks about UK politics, including endorsing a figure on the far right. (3) The UK’s long-term borrowing costs have come close to their highest level in more than a quarter of a century, ramping up pressure on Chancellor of the Exchequer Rachel Reeves to keep the market on side ahead of a raft of bond sales this week. (4) The US has blacklisted Tencent and Contemporary Amperex Technology Ltd. for alleged links to the Chinese military, targeting the world’s biggest gaming publisher and top electric-vehicle battery maker in a surprise move weeks before Donald Trump takes office. (5) Bridgewater Associates dismissed 7% of its workforce Monday as the world’s biggest hedge fund seeks to remain lean and maintain the flexibility to hire top talent, according to a person familiar with the matter. (6) Germany's plan to become a semiconductor superpower is struggling after Intel halted a €30 billion investment in Magdeburg. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Prime Minister Keir Starmer got a taste of the topsy-turvy politics of the coming Trump era as his government spent the weekend defending itself from attacks from Elon Musk, only to see the billionaire provocateur turn on his erstwhile British ally, Nigel Farage. (2) UK business confidence has dropped to its lowest level since former Conservative Prime Minister Liz Truss’s disastrous mini-budget more than two years ago, according to a survey by the British Chambers of Commerce that echoes concerns over the current Labour government’s tax hikes. (3) In his most wide-ranging interview as chief executive officer, Altman explains his infamous four-day firing, how he actually runs OpenAI, his plans for the Trump-Musk presidency and his relentless pursuit of artificial general intelligence—the still-theoretical next phase of AI, in which machines will be capable of performing any intellectual task a human can do. (4) More than three months after winning the most seats at federal elections, far-right leader Herbert Kickl is on track to become the Freedom Party’s first Austrian chancellor in a tie-up with the conservative People’s Party. (5) Justin Trudeau is expected to announce his resignation as leader of Canada’s Liberal Party this week, the Globe and Mail reported, a move that would trigger a contest to replace him as prime minister. 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) Investigators say they haven’t found evidence linking separate deadly attacks in New Orleans and Las Vegas, as the FBI continues to probe two incidents that rattled Americans as they rang in 2025. (2) South Korean anti-corruption investigators failed to arrest impeached President Yoon Suk Yeol after facing resistance from his security team and about a thousand protesters gathered outside his residence. (3) President Joe Biden has decided to officially block Nippon Steel's proposed purchase of U.S. Steel, a once-iconic American company whose sale to a foreign buyer he publicly opposed for months, according to two administration officials who were not authorized to speak publicly about the matter. (4) Meta says Nick Clegg will step down as president of global affairs and named his deputy, Joel Kaplan, as policy chief, elevating a longtime executive with staunch Republican ties ahead of Trump’s second inauguration as US president. (5) China is planning tougher scrutiny on exports of technology to make battery materials, as Beijing looks to protect its grip on a crucial supply chain amid rising global trade tensions. See omnystudio.com/listener for privacy information.