Bloomberg Daybreak: Europe Edition

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.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Investors are signaling the Federal Reserve will cut interest rates just twice this year, starting in September, after a fresh round of hot inflation sent Treasury yields soaring to 2024 highs. (2) Traders pared bets on European Central Bank interest-rate cuts after US inflation topped forecasts, with markets now turning their attention to President Christine Lagarde’s remarks on Thursday. (3) The US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent, in what would mark a significant widening of the six-month-old conflict, according to people familiar with the intelligence. (4) A key creditor to Thames Water has warned that the UK risks deterring investment from its other infrastructure assets if it takes over the firm and imposes losses on bondholders. (5) China’s consumer prices barely increased from a year earlier and industrial prices continued to slump, underscoring the deflationary pressures that remain a key threat to the economy’s recovery. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Today's CPI data is unlikely to settle the debate around the timing of Federal Reserve interest-rate cuts, with forecasters expecting some moderation following elevated inflation readings at the start of the year. (2) Fitch Ratings has revised China's outlook to negative from stable, saying the government is likely to pile on debt as it seeks to pull the economy out of a real estate-driven slowdown. (3) Joe Biden says Israeli prime minister Benjamin Netanyahu's approach to the war is a mistake. The US President spoke to Univision in an interview taped last week when an airstrike killed seven aid workers. (4) Around 7.4 million people in the UK are struggling to pay the bills, underlining the scale of the cost of living crisis even as the total declines from last year's peak, according to the Financial Conduct Authority. (5) Meta is under immense pressure to ensure that social media content created by artificial intelligence doesn't cause havoc with elections this year. The company's top leaders say they haven't seen that happen yet on their services.Christopher Pitt 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 new era of global rearmament is gathering pace, and it will mean vast costs and some tough decisions for western governments already struggling with shaky public finances. (2) More UK firms are tipped to be takeover targets this year as rock-bottom valuations spark an M&A boom among the country’s stocks. (3) Former Federal Reserve Bank of St. Louis President James Bullard said he’s expecting three interest rate cuts this year as inflation moves toward the central bank’s target while the economy remains resilient. (4) L’Occitane's billionaire owner Reinold Geiger and Blackstone are nearing a deal to take the skin-care company private, people familiar with the matter said, potentially ending its 14-year run on Hong Kong’s stock exchange. (5) Tesla's battered share price jumped by more than 5% on Monday after Elon Musk promised that the electric automaker would unveil a robotaxi in the coming months. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Robert Stheeman, the bond market whisperer who raised £3 trillion for Britain warns liquidity is paramount as governments splurge on debt. (2) Ben Bernanke, the former Fed chair, is expected this week to suggest the Bank of England adopt a new innovation, a flexible set of "scenarios", in a bid to update its forecasting process and repair its battered reputation. (3) The European Banking Federation says lenders in the region won't be able to compete with their US rivals if regulators continue to pile on ESG rules that Wall Street remains free to ignore. (4) US Treasury Secretary Janet Yellen will meet China's central bank chief and former economic czar in Beijing as she wraps a trip that's been a delicate balancing act in strengthening bilateral ties while delivering sharp criticisms of Beijing's economic policies. (5) The UK's support for Israel is "not unconditional," Foreign Secretary David Cameron warned days after an Israeli military strike killed three British aid workers. 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) Speaking Exclusively to Blooomberg Argentina's President Javier Milei says he won't touch existing trade agreements with Beijing. (2) Federal Reserve Bank of Minneapolis President Neel Kashkari said interest-rate cuts may not be needed this year if progress on inflation stalls, especially if the economy remains robust. (3) President Joe Biden told Israeli Prime Minister Benjamin Netanyahu that US support for his war in Gaza depends on new steps to protect civilians, a shift in position for the American leader who has faced increased pressure to take a harder line against Israel amid mounting deaths. (4) Oil extended advances on escalating tensions in the Middle East after blowing past the $90-a-barrel threshold in the previous session. (5) A visibly shaking Joe Lewis, the 87-year-old UK billionaire who pleaded guilty to insider trading, was spared jail time by a federal judge in New York. 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 for clearer signs of lower inflation before cutting interest rates, even though a recent bump in prices didn't alter their broader trajectory. (2) President Joe Biden is scheduled to speak with Israeli Prime Minister Benjamin Netanyahu by phone on Thursday, as tensions between the two leaders deepen after the death of seven aid workers delivering food to displaced Palestinians in Gaza, according to a US official. (3) Barclays left a cap on its bankers' bonuses even after regulators told lenders they can pay their staff as they like as part of the government's broader push to make post-Brexit Britain more attractive as a financial center. (4) Apple has teams investigating a push into personal robotics, a field with the potential to become one of the company's ever-shifting "next big things," according to people familiar with the situation. (5) Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Taiwan's strongest earthquake in a quarter of a century leveled dozens of buildings on the eastern side of the island, reportedly killing at least four people and disrupting some chip production lines. (2) President Joe Biden said Israel hadn't done enough to protect civilians after the death of seven aid workers, in some of his sternest criticism yet of the country's conduct in the months since it launched a military campaign against Hamas in Gaza. (3) Two Federal Reserve officials who vote on monetary policy decisions this year said they still expect the US central bank to cut rates three times in 2024, though they're in no rush to begin lowering borrowing costs (4) Tesla had Wall Street analysts second-guessing their models as the first quarter came to a close. One after another reduced their estimate for vehicle deliveries. (5) NATO Secretary General Jens Stoltenberg is proposing to establish a fund of allied contributions worth $100 billion over five years for Ukraine as part of a package for alliance leaders to sign off when they gather in Washington in July. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) An Israeli airstrike on Iran's embassy compound in Syria killed a number of people including a top military commander, Iranian and Syrian state media said, stoking tensions between the longtime adversaries. (2) Bond traders priced in less monetary-policy easing by the Federal Reserve this year — and briefly set the odds of a first move in June below 50% — after a gauge of US manufacturing activity showed expansion for the first time since 2022. (3) Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. (4) Inflation in UK stores dropped to its lowest level in more than two years as supermarkets compete to lure shoppers with low prices. (5) Donald Trump's net worth tumbled by $1 billion along with the shares of his social media business after it disclosed a more than $58 million loss in 2023, as revenue for the former president's Truth Social platform trickled in. 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.

Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House. See omnystudio.com/listener for privacy information.

Bloomberg's Nathan Hager breaks down the latest PCE data with Bloomberg Economics and Policy Editor Michael McKee. Plus, reaction to the data from Tom Porcelli, Chief US Economist at PGIM Fixed Income, and Wells Fargo Senior Economist Sarah House. See omnystudio.com/listener for privacy information.