Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Keir Starmer used his biggest international summit since becoming prime minister to say Britain was back and “looking outward to the world again.” Asserting a global role for his government proved more elusive. (2) Vladimir Putin’s war on Ukraine is escalating after months of bloody attrition. The G20 meeting has been most notably overshadowed by the latest escalatory actions from Moscow and Kyiv. (3) Hong Kong’s former newspaper titan Jimmy Lai dismissed the idea of advocating for independence as “crazy” and downplayed his foreign ties, in his debut testimony fighting national security charges that could silence the 76-year-old for life. (4) President-elect Donald Trump is tapping Cantor Fitzgerald LP chief executive officer Howard Lutnick to lead the Commerce Department, a central pick in an administration that will likely be shaped by sweeping tariff hike proposals. (5) Britain has underestimated the number of people in employment by almost 1 million, according to a new report that casts further doubt on official estimates that are crucial for the Bank of England. (6) Nvidia is poised to deliver its latest quarterly results and forecasts on Wednesday, showing whether the world’s most valuable company can continue its remarkable run fueled by spending on artificial intelligence hardware. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Hedge-fund titan Ken Griffin said he’s anxious about Donald Trump’s potential tariff policies, but that the US economy is going back to “the business of business” now that he’s returning to the White House. (2) The UK will have to balance any deal on tariffs offered by US President-elect Donald Trump with wider concerns on how it would affect trade ties with the European Union, Business and Trade Secretary Jonathan Reynolds said Monday. (3) Europe should pool its resources in areas like defense and climate as its productivity growth falters and the world fragments into rival blocs, European Central Bank President Christine Lagarde said. (4) Top Justice Department antitrust officials have decided to ask a judge to force Alphabet Inc.’s Google to sell off its Chrome browser in what would be a historic crackdown on one of the world’s biggest tech companies. (5) A Hong Kong court sentenced former democracy advocate Benny Tai to 10 years in prison, the longest sentence ever meted out using a China-imposed security law, in a move likely to further deter dissent in the finance hub and attract condemnation from Western governments. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US is approaching a final decision to lift some restrictions on Ukraine’s use of Western-made weapons to strike limited military targets in Russia, according to people familiar with the matter. (2) Xi Jinping used his final meeting with Joe Biden to send a clear message to Donald Trump: China wants to be friends, but is ready for a fight if necessary. (3) The search for Donald Trump’s chief economic policymaker devolved into disarray over the weekend, with contenders tussling for support, aides scrambling to find alternative candidates and the president-elect fuming over the behind-the-scenes jockeying that has spilled into public view. (4) Support for Chancellor Olaf Scholz to lead Germany’s Social Democrats into an early election is starting to crumble within his own ranks, according to people familiar with the situation. (5) UK inflation probably surged back above the Bank of England’s target in October, reinforcing the case for policymakers to act cautiously when cutting interest rates. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. 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) Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace. (2) Bank of England Governor Andrew Bailey has warned Chancellor of the Exchequer Rachel Reeves not to raise tariffs in retaliation to an expected wave of US-led protectionism, amid fears that President-elect Donald Trump will kick off a global trade war once he is sworn in next year. (3) Rachel Reeves said the UK’s crackdown on banks in the wake of the global financial crisis has gone too far and vowed to give the country’s watchdogs new marching orders to ensure they’re focused on growing the economy. (4) JPMorgan Chase Chief Executive Officer Jamie Dimon said President-elect Donald Trump’s tariff threats will “get people to the table,” adding that he hopes it’s “done wisely.” Trump ruled out giving a post to Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer. (5) China’s economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing’s recent stimulus efforts have boosted some key sectors. 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 said the UK will introduce legislation next year to pool £1.3 trillion ($1.7 trillion) of pension savings into a series of “megafunds,” as the new Labour government tries to deliver on its pledge to boost private investment and economic growth. (2) President-elect Donald Trump shocked Washington with his decision to nominate ultra-loyalist Matt Gaetz as his attorney general. The move rammed home what’s become evident since he began announcing his nominations: Subservience to Trump is the main qualification for a job. (3) Several Federal Reserve officials Wednesday reiterated their deep uncertainty over how far the central bank will need to lower interest rates, highlighting the difficulty policymakers face in trying to determine the right setting to keep the economy on an even keel. (4) Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance. (5) Emmanuel Macron said the European Union should “synchronize” its financial regulation with the US, repeating his call not to apply stricter rules than others. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Billionaire Elon Musk and entrepreneur Vivek Ramaswamy will lead a new Department of Government Efficiency tasked to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” President-elect Donald Trump announced. (2) The expected appointment of officials with strong anti-China views to President-elect Donald Trump’s cabinet was welcomed by hedge fund veteran Kyle Bass, even as it risks straining ties between the world’s largest economies. (3) Federal Reserve Bank of Minneapolis President Neel Kashkari said he’ll be looking at incoming inflation data to determine whether another interest-rate cut is appropriate at the US central bank’s December meeting. It comes as traders are loading up on bets for further losses in the Treasury market in anticipation that Donald Trump’s pledged policies will rekindle inflation and keep US interest rates high. (4) Germany’s election campaign kicks into high gear on Wednesday, when Chancellor Olaf Scholz makes his case in a public address for another term, despite polls showing voters are overwhelmingly looking for a change. (5) The Bank of France expects the economy to stagnate in the fourth quarter after growth was boosted by the Paris Olympics in the previous three months and as the political situation continues to add to business uncertainty. (6) Apple, aiming to catch up with rivals in the smart home market, is nearing the launch of a new product category: a wall-mounted display that can control appliances, handle videoconferencing and use AI to navigate apps. 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-elect Donald Trump is poised to pick two men with track records of harshly criticizing China for key posts in his new administration, a sign relations between the superpowers may deteriorate further in coming years. Senator Marco Rubio — who has taken an aggressive stance on China's emergence as an economic power — is set to become the first sitting secretary of state to have been sanctioned by Beijing. Florida Representative Mike Waltz, who has called China a "greater threat" to the US than any other nation, is in line to be national security adviser. (2) Bitcoin's record-breaking rally took the digital asset past $89,000 and lifted the overall value of the crypto market above its pandemic-era peak as traders bet on a boom under President-elect Donald Trump. (3) China is planning to cut taxes for home purchases as the government dials up fiscal support to revive a moribund housing market, according to people familiar with the matter. (4) The UK will begin issuing digital gilts within the next two years, using blockchain technology to "tokenize" its government debt, Chancellor Rachel Reeves is expected to say in a speech Thursday. The hope is that it will make gilt trading faster and cheaper. (5) Nestle needed change at the top — so it's leaning on tradition with a new boss from within to win investors back See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President-elect Donald Trump said he will install Tom Homan, the former acting head of the U.S. Immigration and Customs Enforcement agency, as a “border czar” with oversight over immigration, maritime and aviation security. (2) Trump spoke with Russian President Vladimir Putin on Thursday, the first phone conversation between the two men since Trump won the election, according to reporting in the Washington Post. (3) The bond-market selloff unleashed by Donald Trump’s presidential victory last week ended almost as quickly as it began. Yet firms like BlackRock, JPMorgan Chase and TCW have issued a steady drumbeat of warnings that the bumpy ride is likely far from over. (4) German Chancellor Olaf Scholz said he’s open to moving up a parliamentary confidence vote by several weeks to before Christmas, potentially speeding up the country’s early election to February. (5) UK Chancellor Rachel Reeves will champion free trade and economic growth in a keynote speech this week, as Labour faces pressure to both preempt protectionist trade policies expected from the incoming Trump administration and to reassure businesses facing a higher tax bill. 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.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Federal Reserve Chair Jerome Powell made clear he's ready to defend the US central bank from political pressure following the re-election of Donald Trump, saying he wouldn't resign if asked and insisting the incoming president doesn't have the power to fire him or other senior Fed leaders. (2) Donald Trump's team is forming a new administration and the president-elect is expected to draw top advisers and cabinet secretaries from a pool of Wall Street and business executives including officials from his first term — at least the ones who stuck by him. (3) The Bank of England has supported UK Chancellor Rachel Reeves' debut budget, despite market concerns over inflation and borrowing (4) The head of HSBC's new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring "very quickly" and could announce the first round of job cuts within weeks. (5) Goldman Sachs has added 95 executives to its partnership, the largest addition since CEO David Solomon took over. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Donald Trump's return to the White House is adding fresh ammo to a decade-long investment strategy that echoes his "Make America Great Again" mantra in a replay of the 2016 playbook. (2) Vice President Kamala Harris told supporters to accept her election loss at the hands of President-elect Donald Trump but urged them to keep fighting for the ideals she espoused in her campaign as she publicly conceded the 2024 presidential race. (3) After the Federal Reserve announces what's widely expected to be a quarter-point cut in interest rates, Chair Powell will have to field a barrage of questions about what Donald Trump's return to the White House will mean for growth, inflation and borrowing costs. (4) The Bank of England is likely to lower interest rates for only the second time this year in a decision that will be overshadowed by the fallout from the UK budget and Donald Trump's election victory. (5) German Chancellor Olaf Scholz called for a snap election after his fractious, three-way coalition finally collapsed over how to revive the lackluster economy. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Republican nominee Donald Trump is on the cusp of recapturing the White House, projected as the winner across pivotal battleground states with his party set to control the Senate and markets swinging in expectation of his likely triumph. (2) While Trump has not yet been declared the winner by most news outlets, he won Pennsylvania, puncturing Democrats’ Blue Wall and all but ending Democratic nominee Kamala Harris’ hopes of mounting a comeback. (3) US stocks surged, with S&P futures climbing 1.4%; the dollar posted its biggest gain against major currencies since 2020; Treasury bonds tumbled, sending benchmark yields up more than 0.1 percentage point; and Bitcoin soared to a record. (4) Republicans flip control of the US Senate. They now control at least 51 seats in the 100-member chamber. The GOP knocked out veteran Sherrod Brown in Ohio and picked up an open seat in West Virginia. (5)World leaders congratulated Donald Trump as he declared victory in the US election, capping one of the most tumultuous campaigns in modern political history to defeat his Democratic challenger Kamala Harris. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Republican nominee Donald Trump inched closer to capturing the White House, projected as the winner in two battleground states with his party set to control the Senate and markets swinging in expectation of his possible victory. (2) Trump won both North Carolina and Georgia, flipping the latter from four years ago. He holds a more tentative advantage across Wisconsin, Michigan, Pennsylvania and Arizona, where vote counting continues. (3) Republicans are set to control the Senate, flipping seats in Ohio and West Virginia, and markets are responding to the initial results favoring Trump. (4) A slew of trades around the world tied to Donald Trump's rising presidential prospects notched decisive moves, with stock futures extending gains, Treasury yields jumping and the dollar up the most since February 2023. (5) Bitcoin jumped to a record high, part of a wave of trades across global markets in response to Republican nominee Donald Trump's lead over Democratic rival Kamala Harris in the US presidential election. 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 and Kamala Harris concluded one of the most tumultuous and dramatic presidential campaigns in modern political history with dueling rallies late Monday, capping a furious final dash through battleground states that will decide the 2024 race. (2) Stocks failed to gain traction and bonds climbed, with polls continuing to depict a tight race in the US presidential election ahead of the Federal Reserve rate decision. (3) Elon Musk's daily million-dollar voter giveaway survived a legal challenge by Philadelphia's district attorney ahead of Tuesday's presidential election as a judge in the crucial battleground state of Pennsylvania declined to block it. (4) Apple is exploring a push into smart glasses with an internal study of products currently on the market, setting the stage for the company to follow Meta Platforms into an increasingly popular category. (5) The UK has spent more than a year trying to get hundreds of guns moved from floating armories that are helping Russia profit enormously from its oil trade despite widespread sanction See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) A flurry of polls released Sunday show Vice President Kamala Harris and former President Donald Trump remain poised for a photo finish in this week's presidential election, with voters narrowly split both nationally and across the pivotal swing states that will decide the election. (2) Oil advanced after OPEC+ agreed to push back its December production increase by one month and tensions escalated again in the Middle East. (3) Chancellor Rachel Reeves said she was wrong to tell British voters before the election that Labour wouldn't announce new tax increases, even as she assured them there wouldn't be a repeat of her first budget in the coming years. (4) Kemi Badenoch beat Robert Jenrick in the Conservative Party's leadership contest to become the first Black leader of a major UK political party. (5) Novo Nordisk's Ozempic shot is likely to become the world's top-selling drug next year, but the company must prove it has something even better to stay ahead in the obesity market. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. 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.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chancellor of the Exchequer Rachel Reeves sought to reassure the financial markets after her budget on Wednesday triggered a selloff in UK bonds, saying that the “No. 1 commitment” of the Labour government is “economic and fiscal stability. (2) Apple heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market. (3) Intel gave a fourth-quarter revenue forecast slightly above estimates, sparking optimism that it’s capable of reclaiming some lost market share. (4) Amazon reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce giant on sounder footing. (5) Donald Trump and his allies are telling supporters that they’re on pace for a runaway victory barring fraud — setting the stage for outrage and legal challenges if the election doesn’t break in favor of Republicans. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chancellor of the Exchequer Rachel Reeves sought to reassure the financial markets after her budget on Wednesday triggered a selloff in UK bonds, saying that the “No. 1 commitment” of the Labour government is “economic and fiscal stability. (2) Apple heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market. (3) Intel gave a fourth-quarter revenue forecast slightly above estimates, sparking optimism that it’s capable of reclaiming some lost market share. (4) Amazon reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce giant on sounder footing. (5) Donald Trump and his allies are telling supporters that they’re on pace for a runaway victory barring fraud — setting the stage for outrage and legal challenges if the election doesn’t break in favor of Republicans. See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey. Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chancellor of the Exchequer Rachel Reeves delivered a massive package of tax hikes alongside plans to ramp up public investment in a historic first budget that aimed to revive the UK economy — but fell short of delivering a major boost to its growth prospects. (2) Labour's first budget in over a decade raises taxes by £40 billion a year to fund a £70 billion annual increase in public spending. The plan marks a shift back to big state economics, with spending as a share of GDP set to be 5 percentage points higher than before the pandemic. (3) Microsoft shares dropped in late trading after the software maker forecast slower quarterly cloud revenue growth, reflecting the company’s struggle to bring data centers online fast enough to keep up with demand for artificial intelligence services. (4) Meta CEO Mark Zuckerberg will ramp up heavy investments in AI and other futuristic technologies, continuing a years-long tug-of-war between the company’s long-term bets and the core advertising business that provides the vast majority of Meta’s revenue. (5) China’s economy showed signs of stabilizing after Beijing unleashed the boldest stimulus measures since the pandemic, although an upcoming US election injects uncertainty into the recovery. See omnystudio.com/listener for privacy information.