Bloomberg Daybreak: Europe Edition

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. 

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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. 

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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.

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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.  

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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. 

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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. 

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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.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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 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. 

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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.

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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. 

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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. 

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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.  

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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.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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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.

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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.  

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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 

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 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.

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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. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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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. 

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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.  

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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.

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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.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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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.

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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. 

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On today's podcast:

(1)  Federal Reserve Governor Christopher Waller said there is no rush to lower interest rates, emphasizing that recent economic data warrants delaying or reducing the number of cuts seen this year.

(2)  JP Morgan's chief global equity strategist warned clients on Wednesday that they could be “stuck on the wrong side” of the momentum trade when it eventually falters, and he encouraged them to consider diversifying their holdings and thinking about risk management in their portfolios.

(3) Ozempic could be profitably produced for less than $5 a month even as maker Novo Nordisk charges almost $1,000 in the US, according to a study that revives questions about prices for top-selling treatments for diabetes and obesity.

(4) Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week.

(5) The huge scale of the spending demands facing the next UK government is laid bare in a new report by the head of an influential parliamentary committee.

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On today's podcast:
(1) The 1.6 mile-long Baltimore bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks.

(2) Japan stepped closer to currency intervention with its strongest warning yet as the yen slid to the weakest level in about 34 years against the dollar.

(3) As many as 8 million UK workers are at risk of losing their jobs to artificial intelligence with current government policy, the Institute for Public Policy Research warned.

(4) Cocoa futures surged above an unprecedented $10,000 a metric ton on Tuesday before erasing gains and taking a breather from a historic rally that has seen prices of the key chocolate ingredient double this year.

(5) Betting against former president Donald Trump's social media startup is one of the most difficult and expensive short trades in the market, according to financial analytics firm S3 Partners.

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On today's podcast:

(1) A Bloomberg News investigation identified wide-spanning examples of Starlink kits being traded and activated illegally. How they are smuggled and the sheer availability of Starlink on the black market suggests that its misuse is a systemic global problem, raising questions about the company’s control of a system with clear national security dimensions.

(2) Traders are betting the Bank of England could beat its European and US peers to interest-rate cuts, a turnaround from expectations it would be a laggard in 2024.

(3) The US and UK accused state-backed Chinese hackers of targeting politicians, companies and dissidents for years, as well as stealing troves of British voter data, in the latest revelation of cyberattacks that Washington and its allies have linked to President Xi Jinping’s government.

(4) Days after top executives of major US airlines turned up the heat on Boeing’s board to get a handle on its spiraling safety crisis, the embattled manufacturer announced one of the most dramatic overhauls in its century-long history. The trio that has led the company for the past four tumultuous years is relinquishing control, including Chief Executive Officer Dave Calhoun.

(5) Donald Trump’s business empire was supposed to be in peril like never before on Monday. Instead, it turned into the single-greatest day on record for the former president’s wealth.  

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On today's podcast:

(1) Russian authorities showed footage of four men charged in court with carrying out the deadly Moscow concert hall attack after interrogations that traced their origins to Tajikistan.

(2) French authorities have raised their security alert level to the maximum following the deadly Friday attack in a Moscow concert hall.

(3) Bond traders are cautiously reloading wagers that burned them just weeks ago as the Federal Reserve and key global peers finally appear set to begin reducing interest rates as soon as June.

(4) Britain's ruling Conservative party will promise to keep the generous "triple lock" on state pensions in the upcoming election despite the spiraling cost of the commitment, Chancellor of the Exchequer Jeremy Hunt said.

(5) As Donald Trump sits in a Manhattan courtroom Monday for a hearing related to one of his criminal cases, he'll also be facing a moment of truth for his finances: a deadline that same day to either post a bond to cover a $454 million civil fraud verdict or risk having New York state start the process of seizing some of his assets.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Regulators on both sides of the Atlantic are training their eyes on Apple Inc., unnerving investors with fears over fines and threatening its market dominance. Shares of the company slid 4.1% Thursday, erasing about $113 billion in market value and taking their year-to-date loss back to 11%.

(2) The Bank of England has laid the groundwork for a shift to rate cuts after one of the sharpest turnarounds in guidance in recent memory, with data releases, investor bets and the UK's political calendar pointing to June for the first move.

(3) Chinese authorities are examining the role of PWC in Evergrande's accounting practices after the developer was accused of a $78 billion fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector's meltdown.

(4) Carles Puigdemont, the Catalan separatist who led a failed attempt to break away from Spain, is bidding to make a return as regional president.

(5) A top Israeli official said his country's military is ultimately going to invade the southern Gaza city of Rafah and defeat Hamas "even if the entire world turns on Israel, including the United States." 

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On today's podcast:

(1)  Federal Reserve officials maintained their outlook for three interest-rate cuts this year and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation.

(2) The Bank of England is likely to keep interest rates at a 16-year high, giving more time for inflationary pressures to cool before it loosens up on the quickest tightening cycle in decades.

(3) Anxious employees at Fidelity International, a globe-spanning business based in Bermuda and run out of London, began eying the door. 

(4) The sudden exit of Prime Minister Leo Varadkar leaves Ireland at a crossroads. Unaffordable housing, inequality and political pressures linked to immigration give the nationalist Sinn Fein party an opportunity to take power for the first time in 2025, or sooner.

(5) Reddit and its selling shareholders raised $748 million, pricing shares in an initial public offering at the top of a marketed range, the second big tech listing in as many days.

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On today's podcast:

(1) Wall Street traders gearing up for the Federal Reserve decision sent stocks to fresh all-time highs amid gains in several big techs.

(2) The likelihood that central banks are about to embark upon the most synchronized reduction of interest rates since 2008 looks set to support the dollar in its nascent rebound.

(3) Mohsin and Zuber Issa turbocharged their retail empire in the easy-money era of the past decade through dozens of debt-funded deals to form one of the world’s largest owners of gas stations and convenience stores

(4) The opposition Labour Party’s chancellor-in-waiting Rachel Reeves pledged a fundamental “course correction” for the UK economy, saying the country needed to invest in growth and solve underlying structural problems to break the grip of stagnation. 

(5) JPMorgan unexpectedly lifted its dividend 9.5% in the wake of a record annual profit and as regulators signal they may rethink proposals for tightening capital rules.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) The Bank of Japan ended the most aggressive monetary stimulus program in modern history, scrapping the world's last negative 
interest rate while keeping financial conditions easy for now — a dovish tone that weakened the yen after the widely expected 
decision. 

(2) Nvidia CEO Jensen Huang showed off new chips aimed at extending his company's dominance of artificial intelligence computing, a position that's already made it the world's third-most-valuable business. Elsewhere Nvidia is turning into a casino for the YOLO trading crowd. Just look at the options activity on Monday, when traders bet that shares of the $2.2 trillion chipmaker will more than double its $885 price — by the weekend. 

(3) Chinese regulators say the developer, Evergrande, falsely inflated revenue by more than $78 billion in the two years leading to its failure.

(4) Elon Musk says that his prescribed use of ketamine alleviates periods of low mood and is in the best interest of investors in Tesla Inc. and the other companies he runs.

(5) Actress and singer Selena Gomez has hired advisers to weigh offers for her cosmetics company, Rare Beauty, valued at $2bn according to people familiar with the matter.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Apple is in talks to build Google's Gemini artificial intelligence engine into the iPhone, according to people familiar with the situation, setting the stage for a blockbuster agreement that would shake up the AI industry.

(2) A defiant Vladimir Putin says Russia won't be stopped from pursuing its goals after he swept to a record victory in a presidential election whose outcome was pre-determined

(3)Bank of Japan Governor Kazuo Ueda and his board have one more day to decide if it's time for the nation's first interest rate hike in 17 years amid simmering speculation that it will proceed.

(4) Israel's military made its deepest incursion into Gaza City in about two weeks, saying its troops were undertaking a "precise operation" targeting the main hospital in the northern metropolis that bore the brunt of the first weeks of fighting in the conflict.

(5) A trade, targeting the remains of Sam Bankman-Fried's once-vast cryptocurrency empire, is netting distressed investing firms a 200% profit.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes. 

On today's podcast: 

(1) French President Emmanuel Macron warned that the European Union would face an “existential” threat of a Russian invasion unless Vladimir Putin’s forces are defeated in Ukraine. 

(2) The European Central Bank has succeeded in taming inflation without causing an economic downturn, according to Governing Council member Yannis Stournaras.

(3) Prime Minister Rishi Sunak ruled out a UK general election on May 2, signaling that a public vote would take place later this year instead.

(4) The UK government’s flagship “levelling up” pledge to revitalize disadvantaged regions has been beset by “astonishing delays” that have seen just 10% of the promised funding spent, a parliamentary committee has found.

(5) A Paris neighborhood notorious for its past as a den for crack cocaine dealers is getting a new lease of life thanks to the Olympics. But as the area changes and new people move in, can the city ensure that the residents who were there in the first place don't get kicked out? 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

Ukrainian drone attacks halted three oil refineries deep within Russian territory in an assault President Vladimir Putin said was aimed at disrupting his presidential election later this week.

Dutch election winner Geert Wilders has dropped his bid to become prime minister, after months of coalition talks following his shock win in November.

Rishi Sunak's government plans to ban foreign states from controlling or influencing UK newspapers and news magazines, a move that appears to rule out a UAE-linked takeover of the Telegraph newspaper.

Donald Trump has talked about hedge fund titan John Paulson as Treasury secretary if he wins the November presidential election, and has held a series of meetings with potential cabinet picks, according to people familiar with the matter.

Britain's housing market picked up in February, with an increase in both new buyer inquires and properties for sale after prices stabilized. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Donald Trump has clinched the Republican presidential nomination, capping off a stunning political comeback fueled by grievance and vengeance and formally entering what's poised to be the longest and costliest general election in recent memory.

 (2) Polish President Andrzej Duda said Russian President Vladimir Putin will attack other states if the Kremlin wins its war in Ukraine as he sought to convince the US to approve further assistance for Kyiv.

(3) Citadel founder Ken Griffin said the Federal Reserve should move slowly in lowering interest rates to avoid the possibility of having to reverse course later.

(4) TikTok's Chief Executive Officer Shou Chew went to Capitol Hill Tuesday to lobby against a bill that would force the app's Chinese parent to sell it or face a ban in the US.

(5) The UK medicines agency has seized 869 fake Ozempic pens so far — more than its counterparts in Denmark, Ireland, Switzerland, Iceland and the Netherlands combined. The pens found in Britain include crude fakes as well as ones distributed in bulk by more sophisticated criminals. 

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The UK’s reputation as a global investment destination hit rock bottom last April, when Microsoft President Brad Smith said The European Union was a more attractive place to start a business.

Yet 10 months later, A host of FTSE100 CEOs tell us confidence is recovering. And for all the talk of British decline, official figures suggest the UK remains the top investment destination after the US, trumping even China.

Our Bloomberg Radio anchor Caroline Hepker has spent the past two months talking to Britain's business elite. Here's what they told her. 

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On today's podcast:

(1) Rupert Murdoch's News Corp and the owner of the Daily Mail have held talks about a potential joint takeover of the Telegraph, alongside the UAE-backed investment fund RedBird IMI, people familiar with the matter said.

(2) Jamie Dimon said he wouldn't take the prospect of a recession in the US "off the table," but that the Federal Reserve should wait before it cuts interest rates.

(3) The European Central Bank is leaning against any immediate change in the amount of money lenders need to park with it interest-free, removing for now the threat of a hit to bank profitability.

(4) The deadlock in Ukraine is "shifting the momentum" in the war there in Moscow's favor, US intelligence agencies told senators on Monday. 

(5) Former Credit Suisse Chief Executive Officer Tidjane Thiam signaled his intention to run for president of Ivory Coast in October next year.  

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On today's podcast:

(1) US President Joe Biden warned Israel against an invasion of the city of Rafah in southern Gaza as cease-fire talks between Israel and Hamas remained deadlocked at the beginning of Ramadan.

(2) Job vacancies in England have fallen to their lowest in more than three years, reducing the hope that the UK economy will bounce back strongly from the recession that hit last year.

(3) Before the cart, or even the horse, comes something else to put first: the Brexit paperwork. That’s what transporters outside the UK are dealing with as they move racehorses into England for this week’s Cheltenham Festival, one of the richest sports events in Europe.

(4) Eight months after raising interest rates to a two-decade high, Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight.

(5) Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit.

(6) Oppenheimer, the biographical film about the inventor of the atomic bomb, picked up a total of seven Academy Awards, including best picture and best director for Christopher Nolan. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In Asia – a preview of Hon Hai and CATL earnings.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) President Joe Biden sought to breathe new life into his reelection rematch against Donald Trump, delivering a spirited and sharply political State of the Union speech that sparred with Republicans and targeted an opponent he didn’t ever name.
(2) Federal Reserve Chair Jerome Powell suggested the central bank is getting close to the confidence it needs to start lowering interest rates.
(3) Over the past decade, data enforcement has exploded in prominence. It's women who run the regulators leading the charge against Big Tech.
(4)  European Central Bank President Christine Lagarde indicated policymakers may be in a position to lower interest rates in June as fresh projections showed inflation hitting the 2% target in 2025.
(5) Banks and financial firms should be banned from using nondisclosure agreements in workplace sexual harassment disputes because they risk silencing victims while protecting perpetrators, British lawmakers have warned. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Chancellor Jeremy Hunt has handed millions of British workers a £10 billion a year tax cut paid for by stealing Labour's flagship policies and squeezing public services as he drew political battle lines for the upcoming election.

(2) Britain's budget watchdog said a hit to the economy from leaving the European Union is unfolding as it expected. The Office for Budget Responsibility says its long-running prediction is "broadly on track" to show a 15% fall in trade and a 4% reduction in the UK economy's potential productivity compared to if the UK had stayed in the EU.

(3) Wall Street banks are on the cusp of a sweeping regulatory victory after Federal Reserve Chair Jerome Powell signaled officials would scale back plans to make them hold more capital. 

(4) A missile strike on a commercial ship in the Gulf of Aden resulted in the first confirmed deaths of crew members since Houthi militants began a wave of attacks against commercial shipping in one of the world's busiest sea lanes.

(5)  Deutsche Bank has cut the bonus pool at its investment banking division by more than 10% after a slump in deals and a slowdown in trading last year. 

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Jeremy Hunt plans to put personal tax cuts at the center of his annual budget on Wednesday as he navigates tight public finances to deliver on Conservative demands for a pre-election giveaway to boost the ailing governing party’s standing with voters.

(2) President Joe Biden and Republican frontrunner Donald Trump are set for a rematch in a general election race that few Americans are excited about and that Wall Street donors tried in vain to avert.

(3) A Citigroup reorganization aimed at streamlining the bank and making it more competitive with its peers has gone swifter than expected, Chief Executive Officer Jane Fraser said, as she set out positive guidance for the year ahead.

(4) OpenAI fired back at a lawsuit filed against it by Elon Musk in a blog post Tuesday, using the billionaire’s own emails to show he backed the company’s plans to become a for-profit business and that he insisted it raise “billions” of dollars to be relevant compared with Google.

(5) Birmingham City Council has signed off on the largest-ever package of budget cuts by a UK local authority 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) There’s a new sense of optimism in the UK as a global investment destination ahead of a general election later this year. A two-month investigation by Bloomberg Radio's Caroline Hepker has many of London's business elite increasingly upbeat about the future of the economy.

(2) China set its annual growth target at around 5%, raising expectations for the nation’s top leaders to unleash more stimulus as they try to lift confidence in an economy hampered by a property slump and entrenched deflation.

(3) JPMorgan Chase's chief market strategist Marko Kolanovic joins in a chorus of rapidly piling up warnings from Wall Street that are hearkening back to the dot-com boom of the late-1990s, or the post-pandemic mania of 2021, when stock prices quickly ballooned and then burst.

(4) A bank group spearheaded by Morgan Stanley held discussions with Elon Musk and his team about refinancing a roughly $12.5 billion debt package that supported the tech billionaire’s take-private of the social media platform X, according to people with knowledge of the matter.

(5) The US Supreme Court said Donald Trump can appear on presidential ballots this year, putting an end to efforts nationwide to ban him under a rarely used constitutional provision barring insurrectionists from holding office. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) UK Chancellor of the Exchequer Jeremy Hunt said his budget will be "prudent" and "responsible," as he tried to temper expectations of Conservative MPs who want eye-catching tax cuts to give their party a pre-election boost.

(2) Bond investors are positioning for a potential rise in inflation if Chancellor of the Exchequer Jeremy Hunt cedes to pressure to deliver pre-election giveaways in this week's spring budget.

(3) The UK government plans to lower the threshold to qualify as a so-called angel investor in a bid to bolster funding for small- and medium-sized businesses, the Treasury said in a statement.

(4) China is set to announce its 2024 growth target and outline its strategy for supporting the slowing economy at the nation's most high-profile annual political gathering this week.

(5) US Vice President Kamala Harris has called for a temporary cease-fire between Israel and Hamas as talks drag on over a deal to release hostages taken during the Oct. 7 attacks.  

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Left-wing disrupter George Galloway won a seat in the UK Parliament in a special election that underscored how the Israel-Hamas war has exacerbated community tensions and sowed division across British politics.

(2) Scores of Palestinians were killed and injured on Thursday during an outbreak of violence in which Israeli troops opened fire near a convoy of food trucks attempting to deliver humanitarian aid in northern Gaza.

(3) China's factory activity shrank for the fifth straight month in February, suggesting weak demand remains an obstacle for the economy.

(4) The Federal Reserve's preferred gauge of underlying inflation rose in January at the fastest pace in nearly a year, helping explain policymakers' patient approach to start cutting interest rates.

(5) UK retail traffic fell the most since the pandemic due to train strikes, squeezed budgets and one of the wettest Februarys on record, fueling concerns about the strength of the economy. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The Supreme Court’s decision to take up Donald Trump’s bid for immunity from criminal prosecution raises the prospect that a trial to hold him accountable for trying to overturn the 2020 election could face a lengthy delay — potentially until after the November election.

(2) Senate Republicans have to choose just how loyal to Donald Trump they want their next leader to be in the wake of Mitch McConnell’s bombshell decision to step aside after the November election.

(3) Congressional leaders reached a last-minute deal to avoid a disruptive US government shutdown, setting up another clash with ultra-conservatives who swiftly blasted the agreement.

(4) Chancellor of the Exchequer Jeremy Hunt has considered scrapping Britain’s non-domiciled tax status as he seeks ways to fund pre-election giveaways in his budget next week.

(5) Three Federal Reserve officials said the pace of interest-rate cuts will depend on incoming economic data, suggesting the path to lower borrowing costs may look different than in previous rate-cutting cycles. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Wall Street's biggest banks have seen staffing levels surge in Paris despite the fact that many of those firm's top bosses feel constrained by the country's strict labor laws. 

(2) Apple is cancelling a decade long effort to build an electric car, according to people with knowledge of the matter, abandoning one of the most ambitious projects in the history of the company.

(3) Central bankers around the world have traditionally been scrupulous about insisting on their independence from politics. But the rise of anti-democratic groups and populists around the world has spurred European policymakers to step into the fray.

(4) The Bank of England may sell all the UK government bonds bought under quantitative easing to better prepare for a future crisis, a move that would put it at odds with the US Federal Reserve.

(5) Deutsche Bank's decision to force workers into the office more frequently has met with fierce internal criticism, demonstrating the challenges in reversing a policy introduced during the Covid pandemic. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Sweden has cleared the final obstacle to gaining NATO membership in a move that will solidify the alliance's grip over Northern Europe and the Baltic region.

(2) China's state-backed funds have poured more than 410 billion yuan ($57 billion) into onshore shares this year in a bid to prop up the market, according to estimates by UBS which expects further purchases. 

(3) Fast-fashion company Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to people with knowledge of the matter.

(4) Inflation in UK stores slowed to the lowest level since March 2022, signaling further respite for households as retailers doubled down on promotions and passed on lower costs.

(5) A new law tracing the origin of cocoa beans threatens to jolt the price of chocolate and skin-care products. 

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack.

(2) Warren Buffett's Berkshire Hathaway says its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at "eye-popping performance."

(3) Ukrainian President Volodymyr Zelenskiy said his country has lost 31,000 soldiers since Russia's full-scale invasion started two years ago as he stressed that a decision from the US Congress on $60 billion in aid was needed within a month.

(4) A former deputy chairman in Rishi Sunak's ruling Conservative party has been suspended after growing pressure from within the party over his claim that London Mayor Sadiq Khan is controlled by "Islamists."

(5) Global trade ministers are gathering in Abu Dhabi for the World Trade Organization's summit, amid a tide of trade protection and questions over the WTO's relevance. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Nvidia’s surge to an all-time high is the biggest single-session increase in market value in history, besting Meta’s historic gain just three weeks ago.

(2) Former Treasury Secretary Larry Summers is warning that financial markets are underestimating the risks of political and social turmoil around the world.

(3) Three top Federal Reserve officials hammered home the message Thursday that the US central bank is still on track to cut interest rates this year — just not anytime soon.

(4) Russia is steadily expanding its influence across Africa with arms sales, Kremlin-sponsored beauty pageants and more recently -- free grain.

(5) House of Commons Speaker Lindsay Hoyle faced growing calls from Conservative and Scottish National Party politicians to resign over the chaotic scenes in Parliament

(6) For the first time since 1972, the US is back on the moon. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

Nvidia surged in late trading after delivering another eye-popping sales forecast, adding fresh momentum to a stock rally that already made it the world's most valuable chipmaker.

Minutes from the Federal Reserve's latest gathering show most officials remained more worried about the risk of cutting interest rates too soon than keeping them high for too long and damaging the economy.

Beth Hammack had been billed as one of the most likely candidates to break into Goldman Sachs Group Inc.'s all-male top tier. Now, she's calling it quits after 30 years at the Wall Street giant.

A vote on the Israel-Hamas war triggered chaos in the UK's House of Commons with the Scottish National Party walking out in protest and Prime Minister Rishi Sunak's Conservatives also refusing to cast their ballots.

Why a $2.3 billion rail project spanning three African countries is critical to boosting adoption of electric vehicles. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1)  The US has told allies that Russia could deploy a nuclear weapon or a mock warhead into space as early as this year, according to people familiar with the matter.

(2) As Russia's war in Ukraine enters a third year, President Vladimir Putin's forces have shifted to the offensive and captured the eastern city of Avdiivka after months of fighting. In a conflict where momentum has ebbed and flowed, the mood is now noticeably darker in Kyiv.

(3) HSBC reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations.

 (4) Citigroup lifted Chief Executive Officer Jane Fraser's pay about 6% to $26 million for a year in which she kicked off a major overhaul of the Wall Street giant to simplify operations and boost profitability.

(5) UK Chancellor Jeremy Hunt will have £23 billion of headroom for pre-election tax cuts in his budget next month but any giveaways will be "sandwiched between far bigger past and future tax rises," according to the Resolution Foundation. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Barclays says it will go on a major cost-cutting drive as part of efforts to boost returns above 12% in the coming years, ending months of speculation about the future direction of one of Europe's largest investment banks.

(2) Capital One has agreed to buy Discover in in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street's behemoths.

 (3) China has ramped up support for the troubled property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come.

(4) A coalition of international law enforcement agencies, including the FBI and UK National Crime Agency, said they have disrupted LockBit, one of the most prolific hacker groups of all time, including shutting down websites the organization used for ransomware payments.

(5) After decades of occupying different business areas, the last two remaining banks with links to the storied Rothschild name are encroaching on each other's territory.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) After decades of occupying different business areas, the last two remaining banks with links to the storied Rothschild name are encroaching on each other's territory.

(2) Capital One has agreed to buy Discover in in a $35 billion all-stock deal to create the largest US credit card company by loan volume, giving the combined entity a stronger foothold to compete with Wall Street's behemoths.  

(3) China has ramped up support for the troubled property sector with its biggest-ever cut to a key mortgage reference rate, raising expectations for more aggressive measures to support the economy in the months to come. 

(4) BHP's first-half net income slumped 86% from the year before, after oversupply in the nickel market forced the world's biggest miner to write down the value of key assets.

(5) Volkswagen, Renault and Stellantis are thinking the unthinkable, exploring tie-ups with sworn competitors to make cheaper electric vehicles and fend off existential threats. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) The Bank of England risks deepening the UK's recession if it doesn't pivot to interest rate cuts soon, its former chief economist Andy Haldane warned in an interview with Bloomberg Radio.

(2) Apple will face a European Union fine close to €500 million over the regulator's investigation into allegations it silenced music-streaming rivals, including Spotify on its platforms. 

(3) High-earning British bankers, lawyers and consultants are now some of the workers most vulnerable to trade shocks, according to the Resolution Foundation.

(4) Just months after setting a 2024 target for the S&P 500 Index, Goldman Sachs Group  strategists have boosted their forecast for a second time as the stock market eclipsed the significant 5,000 milestone this month.

(5) Thomas Heatherwick is one of the best known names in modern building design. He's behind Coal Drops Yard in London, Vessel and Little Island in New York - and the cauldron for the Olympic Flame in the 2012 London games. He's been speaking to us here on Bloomberg Radio about the need for more homes to be built in the UK and says he'd like to be involved in designing new social housing in Britain. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Apple, racing to add more artificial intelligence capabilities, is nearing the completion of a critical new software tool for app developers that would step up competition with Microsoft.

(2) Keir Starmer's poll-leading opposition Labour Party overturned significant majorities to win two parliamentary seats from Rishi Sunak's governing Conservative Party, denting the prime minister's hopes of wrestling back momentum ahead of a UK-wide vote expected this year.

(3) UK Chancellor Jeremy Hunt has deemed a plan to cut the basic rate of income tax to 18% from 20% unaffordable, The Telegraph reports, citing a person familiar with the matter.

(4) Federal Reserve Bank of Atlanta President Raphael Bostic said there's no rush to cut interest rates with the US labor market and economy still strong, and cautioned it's not yet clear that inflation is heading sustainably to the central bank's 2% target.

(5) For more than 20 years, Stavros Gavriliadis and Dimitrios Elefsiniotis have been building a life together. They bought a house and started a family. But under Greek law, they couldn't marry or both be recognized as the parents of their three children — until this week. 

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Britain fell into a technical recession in the second half of 2023. GDP shrank 0.3% in the fourth quarter, pushing the UK into a shallow economic dip.

(2) Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group’s demands as “delusional.”

(3) Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election.

(4) Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter.

(5) Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts.

(6) Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

Israeli Prime Minister Benjamin Netanyahu has opted not to send a delegation to Cairo for follow-up talks aimed at securing a cease-fire with Hamas, again dismissing the militant group’s demands as “delusional.”

Vladimir Putin praised Joe Biden as a more reliable alternative for Russia than Donald Trump, making his first public comments on the American presidential election.

Donald Trump is considering scaled-back commitments to some NATO members and a push for Ukraine to negotiate an end to the war with Russia if he returns to power next year, according to people familiar with the matter.

Bank of England Governor Andrew Bailey said weaker-than-expected inflation in January “pretty much leaves us where we were” after the data prompted traders to shift forward bets on interest-rate cuts.

Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.

At least one person has been killed and more than 20 others wounded after a shooting at a parade in Kansas City celebrating the winners of the Superbowl.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) US consumer prices jumped at the start of the year, stalling recent disinflation progress and likely delaying any Federal Reserve interest-rate cuts.

(2) The global bond rally that started in December with the hope that the Federal Reserve had finally pivoted to favor interest-rate cuts has evaporated.

(3) UK inflation data will likely show that both the headline and services figures accelerated in January.

(4) Russia is relying on thousands of workers from neighboring countries to undertake the multi-billion-dollar reconstruction in the occupied territories of Ukraine.

(5) Since the Covid-19 pandemic upended the use of real estate around the world, lenders have had little incentive to get tough on borrowers squeezed by soaring interest rates and take on loans that had lost value. For many, the time to wait it out is nearing its end.

(6) Less than an hour after issuing its earnings, Lyft Chief Financial Officer Erin Brewer joined a call with analysts and said the company is actually expecting margins to expand by 50 basis points — not 500.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) UK wage growth slowed less than expected in the fourth quarter, underscoring the Bank of England's caution against moving too quickly to cut interest rates. 
(2) Arm Holdings Plc soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.
(3) US President Joe Biden said he's pushing for a six-week pause in fighting between Israel and Hamas to allow for the release of hostages, saying that could lay the groundwork for broader peace.
(4) Elon Musk told US Republican senators "there is no way in hell" that Russian President Vladimir Putin could lose the war on Ukraine, weighing in on a conflict that has been affected by Musk's own Starlink satellite services.
(5) Bond traders have come more in line with the Federal Reserve's trajectory for the upcoming easing cycle. Strategists at Citigroup Inc. say what's missing now is traders hedging the risk of a very brief easing cycle followed by rate increases shortly thereafter.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) US President Joe Biden said he's pushing for a six-week pause in fighting between Israel and Hamas to allow for the release of hostages, saying those conditions could lay the groundwork for broader peace.
(2) Bond traders have come more in line with the Federal Reserve's trajectory for the upcoming easing cycle. Strategists at Citigroup Inc. say what's missing now is traders hedging the risk of a very brief easing cycle followed by rate increases shortly thereafter.
(3) Arm Holdings soared again on Monday, extending a three-day rally that has driven its value up almost 100%, after a blockbuster earnings report last week showed artificial intelligence spending is bolstering sales.
(4) Regulatory reforms since the 2008 financial crisis cannot be blamed for the sharp discount in UK commercial bank valuations, Bank of England Governor Andrew Bailey said.
(5) Britain isn't building enough homes and the shortage is about to get even worse. That's based on calculations by Bloomberg News of government population data and homebuilding targets from the biggest political parties, which suggests a shortfall of almost 100,000 homes a year over the next parliament when including pent up demand from years of missed targets. 

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On today's podcast:

(1) Donald Trump's comments over the weekend that he once told a European leader he'd abandon NATO members to a Russian invasion if they hadn't met defense-spending commitments have renewed talk about what a second term would mean for allies.

(2) Israel's military conducted strikes early Monday morning on the city of Rafah in the southern Gaza Strip, where more than 1 million people have sought shelter from the fighting.

(3) Ukrainian military intelligence said Russian forces increasingly use Starlink terminals on the frontline, a new twist in Kyiv's uneasy relationship with Elon Musk's internet service.

(4) NatWest Group is preparing to hand out marginally lower bonuses to its staff as the UK government works on a plan for a retail share offer that could significantly cut its remaining stake in the bank, Sky News reported. 

(5) The Kansas City Chiefs have won the Super Bowl, beating the San Francisco 49ers 25-22 in overtime. Star Quarterback Patrick Mahomes threw the winning touchdown pass with 3 seconds left on the clock.

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) President Vladimir Putin said Russia hasn't achieved its objectives in Ukraine yet, adding in an interview with former Fox News host Tucker Carlson that he would consider negotiations if the US stops supplying weapons to Kyiv.

(2)  President Joe Biden forcefully — and at times angrily — sought to combat suggestions his acuity was declining in a hastily-arranged press conference Thursday night. But the 81-year-old leader may have made his biggest election-year liability worse.

(3) US regulators will begin requiring hedge funds to confidentially share more information about their investment strategies.

(4) Chancellor of the Exchequer Jeremy Hunt said he is "very attracted" to the idea of creating a tax-free savings account for investing in British stocks — a so-called British ISA — as part of efforts to boost the UK's struggling stock market.

(5) Once treated as heirlooms, pro football franchises are now billion-dollar businesses, and a new class of investors is circling 

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On today's podcast:
(1) Former Barclays Plc Chief Executive Officer Jes Staley has long maintained that he cut off his friendship with Jeffrey Epstein once he became boss of the UK bank. Legal documents seen by Bloomberg News claim that he had indirect contact with the late pedophile financier for years after that. Representatives for Staley and JPMorgan didn't respond to requests for comment. 

(2) When the US punished Morgan Stanley for leaking upcoming stock trades to favored clients, it kept the list of recipients secret. They include one of Wall Street's biggest players: Citadel.

(3) Walt Disney reported better-than-expected earnings for its fiscal first quarter and issued an upbeat profit outlook for the year, citing cost-cutting benefits and the strong performance of its international theme parks.

(4) Europe's earnings season is off to one of the worst starts in at least ten years, with a majority of companies publishing weaker-than-expected results. But the ones delivering positive surprises amid all the gloom and doom are reaping outsize rewards.

(5) Cheap power and friendly relations with China have made Ethiopia a top pick for Chinese Bitcoin miners.

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On today's podcast:
(1) New York Community Bancorp's credit grade was cut to junk by Moody's Investors Service less than a week after the regional lender alarmed shareholders by slashing payouts and stockpiling reserves to cover troubled loans tied to commercial real estate.

(2) Treasury Secretary Janet Yellen said that while losses in commercial real estate are a worry, US regulators are working to ensure that loan-loss reserves and liquidity levels in the financial system are adequate to cope.

(3) A rally in Chinese shares continued Wednesday, a sign of growing investor hopes for authorities to take more forceful steps to sustain a nascent market recovery.

(4)  UK lawmakers called on the Bank of England to rethink the way it's unwinding its quantitative easing stimulus program, saying asset sales the Treasury indemnified are now costing taxpayers 10s of billions of pounds.

(5) From the Glazer family at Manchester United to Todd Boehly and his Wall Street financiers at Chelsea, the American takeover of clubs in the Premier League isn't new. Yet below the world's richest competition, the footprint on the English game is deepening and widening — and raising even more questions over who will make money and who will lose it. 

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On today's podcast:

UBS Group AG will resume share buybacks this year, vowing to hand as much as $1 billion to shareholders in the second half as it seeks to move beyond the integration of Credit Suisse.

Hopes are also building for more concerted efforts to boost shares as regulators plan to brief President Xi Jinping on market as soon as Today.

King Charles is receiving treatment for an unspecified form of cancer, in the latest health scare for the British royal family less than a year-and-a-half after the death of Queen Elizabeth

Bank of England Chief Economist Huw Pill said interest rates could drop this year as a "reward" to the economy for bringing inflation down.

Germany's far-right AfD party is a risk for the economy because it threatens to deter investment by international businesses, Finance Minister Christian Lindner said. 

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 Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) The Biden administration vowed more strikes against Iran's forces and its proxies in the Middle East after three straight days of punishing attacks, even as senior officials insisted the US won't be pulled into a prolonged regional conflict.

(2) Iranian-backed Houthis vowed to respond to US and British-led airstrikes after dozens of targets of the Yemen-based rebel group were struck overnight. 

(3) Federal Reserve Chair Jerome Powell said Americans may have to wait beyond March for the central bank to cut interest rates as officials look for more economic data to confirm that inflation is headed down to 2%.

(4) China has pledged to stabilize markets after shares sank to a five-year low in chaotic trading on Friday, but policymakers offered no specifics on how they plan to end a selloff that's erased more than $6 trillion of value and dented confidence in the world's second-largest economy. 

(5) On top of tumbling stocks, an embattled property market and a struggling economy, there's at least one more thing keeping domestic Chinese investors up at night: a potential win by former US president Donald Trump in the November general election.

(6) Former President Donald Trump says he might impose a tariff on Chinese goods of more than 60% if elected, signalling an increasingly hawkish tone against the top supplier of goods to the US. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

Apple reported a deepening slump in China during the holiday quarter, even as total iPhone sales were stronger than expected and the company returned to revenue growth.

Meta and Amazon reported better-than-expected earnings on Thursday, sending their stock prices soaring by a combined $270 billion

Bank of England Governor Andrew Bailey has put the British central bank on a clear path to rate cuts. He also gave investors a few reasons to think the journey for policy makers in London may take longer than for those in Washington and Frankfurt.

New York Community Bancorp tumbled for a second straight day as Wall Street downgrades piled up. Regional bank peers slumped as well, with a closely watched index extending its two-day drop to 8%, the most since the sector's tumult in March roiled financial markets.

President Joe Biden is making no secret of his intentions for multiple attacks on an Iran-backed group that killed three US soldiers last week, a strategy that's exposed him to criticism he's giving up the element of surprise. 

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) The Federal Reserve held interest rates steady for a fourth straight meeting and signaled an openness to cutting them, though Fed Chair Jerome Powell threw cold water on investors' hopes that reductions would begin in March.

(2) The Bank of England is likely on Thursday to deliver a brighter outlook for the UK economy, reducing its forecast for inflation this year and potentially opening the way to interest-rate reductions that could boost growth.

(3) Deutsche Bank has raised its mid-term revenue target. Planned cost savings the Frankfurt-based bank had previously announced will result in the reduction of some 3,500 jobs, mostly in the back office, Deutsche Bank also said.

(4)  In an unscripted scene during tense testimony Meta CEO Mark Zuckerberg stood before a packed Senate hearing room and apologized directly to the families of children who were victims of sexual exploitation on social media platforms.

(5) Prime Minister Giorgia Meloni is increasingly counting on the same people who propelled her to power to keep Italy solvent: its citizens. 

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On today's podcast:
Microsoft and Alphabet, two rivals in AI software and cloud computing, delivered mostly good news in their reports, but still elicited a ho-hum from investors.

Elon Musk's $55 billion pay package at Tesla has been struck down by a Delaware judge after a shareholder challenged it as excessive, a ruling that would take a giant bite out of Musk's wealth and put the fate of his companies in question.

UBS cut a group of senior bankers as the financial giant reduces its headcount following last year's takeover of former rival Credit Suisse, according to people with knowledge of the matter.

The Federal Reserve will likely hold interest rates steady for a fourth straight meeting but avoid signaling an imminent interest-rate cut.

A $2.6 billion experiment aimed at making a tiny fraction of Europe's industrial pollution disappear is getting a big boost from Germany 

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Joe Biden's administration is seeking a response to the deadly attack on US forces in Jordan that's tough enough to deter Iran and its proxies without sparking direct warfare with the Islamic Republic, according to officials and experts. 

(2) As many as 10% of the UN relief agency's 12,000 workers in the Gaza Strip were members of the militant groups Hamas and Palestinian Islamic Jihad, according to an Israeli intelligence assessment shared with the US.

(3) China's equities and bond markets are giving a clear signal to policymakers that they need to take more steps to revive investor confidence.

(4) Elon Musk said that the first human patient has received a brain implant from his startup Neuralink Corp., a significant step forward for the company that aims to one day let humans control computers with their minds.

(5) The UK's last election left the Labour Party in dire straits, holding the fewest seats since 1935. To get back into power, Labour leader Keir Starmer must win in areas that are older, richer, more rural, have a bigger proportion of homeowners and are more likely to be White. In short, he must cut big chunks out of Prime Minister Rishi Sunak's Conservative Party base. 

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) US President Joe Biden faces intensifying pressure to confront Iran directly after the country's proxies killed three American soldiers in a drone strike in Jordan over the weekend, risking precisely the wider regional conflict that he's trying to avoid.

(2) China's Evergrande Group has received a liquidation order from a Hong Kong court, setting off what's likely to be a daunting process to carve up one of the biggest victims of a years-long and nationwide property debt crisis.

(3) The UK government has asked City of London firms to submit proposals to work on a potential retail offering of NatWest shares, in what would be the country's most high-profile privatization this year.

(4) London homes are now the most affordable they've been since 2014, though they're still by far the most expensive relative to earnings in Britain despite their underperformance.

(5) EU Commission President Ursula von der Leyen is expected to seek a second term ahead of elections in June; but the achievements of her first term haven't come without controversy. 

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Many shoppers in the Middle East, as well as in Muslim nations like Pakistan are shunning big foreign brands, driven by a wellspring of anger against Western countries for their support of Israel during the war with Hamas. In this special podcast, Bloomberg reporters Leen Al-Rashdan and Salma El Wardany discuss the effects of the boycott movements, speak to those who’ve changed their spending habits, and to businesses who’ve seen an increase in sales as consumers make the switch to more local brands. This special Bloomberg conversation is hosted by Stephen Carroll. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Apple is embarking on a historic overhaul of its iOS, Safari and App Store offerings in the European Union, aiming to placate regulators set to impose tough new antitrust rules.

(2) The US has pulled further ahead of China in the race for world's biggest economy, thanks in part to a vibrant American consumer.

(3) Intel Corp. tumbled in late trading after delivering a disappointing forecast on Thursday, renewing doubts about a long-promised turnaround at the once-dominant chipmaker.

(4)  Bank of America is splitting a roughly $800 million pool of restricted stock with the majority of its staff, boosting compensation to retain employees even as the bank works to keep a lid on expenses.

(5) Many consumers are shunning foreign brands such as Starbucks and Coke as the Israel-Hamas conflict's repercussions spread. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Tesla CEO Elon Musk said that he can see the next "major growth wave" approaching, in the form of a new, low-cost car later next year. Investors unwilling to wait until then pushed the stock down.

(2) US aviation regulators ordered Boeing to halt further production-rate increases for its 737 Max aircraft even as they cleared the way for a version of the jet involved in a near-calamity to return to the skies. 

(3) British billionaire Joe Lewis pleaded guilty to passing inside corporate information to his private pilots and girlfriend, putting a black mark on the 86-year-old investor's otherwise spectacular rise from London's East End to one of Britain's richest men.

(4) Paul Kagame, the longtime president of Rwanda, wins plaudits abroad for making his tiny country a continental power. But the transformation has meant suppression of dissent and alleged assassinations of critics.

(5) Pay for most senior investment bankers at Wall Street firms in Asia dropped to the lowest level in almost two decades, according to people familiar with the matter, as a dearth of deals in China and Hong Kong hammered the industry. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
Former President Donald Trump won the New Hampshire primary, dealing a blow to his only remaining major rival Nikki Haley and solidifying his status as the Republican party's likely nominee.

Alaska Air found loose bolts on "many" of its Boeing 737 Max 9 aircraft following the midair blowout of a panel on one of its planes earlier this month, the carrier's chief executive officer said in an interview with NBC.

Netflix signed up 13.1 million customers in the final three months of 2023, the streaming giant's best quarter of growth since viewers were stuck at home in the early days of the pandemic.

Turkey's parliament approved Sweden's accession to NATO after months of deliberations, leaving Hungary as the lone holdout to the defense alliance's northern enlargement.

Apple, reaching a make-or-break point in its decade-old effort to build a car, has pivoted to a less ambitious design with the intent of finally bringing an electric vehicle to market. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) The US and UK launched new airstrikes against eight Houthi targets in Yemen on Monday, the latest salvo in an allied effort to stop the group from harassing commercial shipping in the Red Sea.

(2) Despite a flailing economy and political rifts, Israelis are mobilizing against what they see as an existential threat.

(3) China's considering a 2 trillion yuan ($278 billion) package to stabilize the stock market mainly through the Hong Kong exchange link, people familiar said.

(4) The Bank of Japan kept investors guessing over when it will shift policy after sticking with its negative interest rate for now while indicating it is getting more confident about hitting its long-sought inflation goal.

(5) Bill Gross has some advice for the Fed: Stop winding down its balance sheet and start cutting rates

(6) Moody's Analytics has found 21 million "red flags" associated with shell companies. For instance, more than 2,200 companies have directors aged 123 years and above.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Ron DeSantis dropped out of the 2024 US presidential race on Sunday and endorsed front runner Donald Trump, narrowing the Republican field to two major candidates ahead of the closely watched New Hampshire primary on Tuesday.

(2) Billionaire money managers Chris Hohn and Ken Griffin led hedge funds to deliver one of the best years for clients in 2023. The industry produced combined gains worth $218 billion after fees, according to estimates by LCH Investments, a fund of hedge funds. Hohn's TCI Fund Management made $12.9 billion to top LCH's rankings, followed by Citadel, which made $8.1 billion.

(3) Travellers flying to the UK and Ireland are being forced into lengthy diversions and even to different countries as storm Isha throws planes off course.

(4) Hundreds of thousands of Germans flooded the streets over the weekend, including in front of the national parliament, to protest against far-right extremism and the rise of the anti-immigrant AfD party.

(5) A wave of mergers is sweeping through the City of London's landscape of corporate brokers -- the key advisers every listed firm is required to have. With the viability of many brokers in doubt, companies are now increasingly looking for new advisers. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) The Chancellor Jeremy Hunt has told Bloomberg that Britain is a safe harbour for investors in an increasingly unstable world. Speaking on the sidelines of the World Economic forum in Davos, Hunt also hinted at tax cuts in the March budget as a way to deliver growth.

(2) Houthi militants in Yemen fired missiles at an American-owned commercial vessel on Thursday, the same day President Joe Biden acknowledged US airstrikes have not halted the Red Sea attacks.

(3) Our Economics and Government Editor Stephanie Flanders joins us to look back at the week that was in Davos and what we learned from the gathering of business and political leaders. 

(4)Israel will insist on security control over the West Bank and Gaza Strip in the foreseeable future after the war, Prime Minister Benjamin Netanyahu said, rejecting rule by the Palestinian Authority despite calls from the US.

(5) Congress passed a temporary spending bill to avert a partial US government shutdown this weekend, sending the legislation to the White House, where President Joe Biden plans to sign it.

(6) JPMorgan Chase & Co. raised Chief Executive Officer Jamie Dimon’s pay to $36 million for 2023, a year in which the bank notched the highest profit in the history of American banking.

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On today's podcast:
(1) The Pakistani military carried out targeted strikes against militant hideouts in Iran after Tehran launched similar attacks the day before, in an escalation of tensions.

 (2) The US launched another round of strikes on Yemen's Houthis overnight as the Iran-backed militant group continues to roil global shipping markets with attacks around the Red Sea.

(3) Apple was slighted by Netflix, which said it's not bothering to make an app for the Vision Pro just weeks ahead of the headset's debut. The company was also forced to sell watches without its blood oxygen feature starting today. And it may also face a DOJ antitrust lawsuit as early as March.

(4) Rishi Sunak's plan to deport asylum seekers survived a key vote after most rebels fell in line, but the saga further dented his authority before a general election later this year.

(5) Britain's biggest banks have a new problem on the horizon: car loans. The Financial Conduct Authority has reached out around a dozen banks about their auto lending practices, according to people familiar with the matter. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Confidence in the resilience of the global economy is cheering up the Davos crowd against a backdrop of war and prospective political upheaval in the year ahead. 

(2) Data released Wednesday presented a mixed bag for China's economy, which hit an official growth target for the year but has failed to shake off several of the problems most persistently weighing on domestic demand and confidence.

(3) Federal Reserve Governor Christopher Waller says the US central bank should take a cautious and systematic approach when it begins cutting interest rates, a process that can start this year absent a rebound in inflation.

(4) Rishi Sunak suffered a major setback as a right-wing politician whom he made deputy chairman of the governing Conservative Party to boost support ahead of a looming UK general election resigned over the prime minister's refusal to toughen his signature anti-immigration bill.

(5) Zelenskiy turns on Davos charm with humor, handshakes and hugs. The Ukrainian president spent 24 hours pitching the Wall Street elite for investment and patching up ties with old allies as part of a push to shore up the faltering war effort. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Donald Trump tightened his grip on the Republican presidential nomination after Iowa voters delivered him a victory in Monday's caucuses and moved him one step closer to returning to the White House.

(2) Houthi militants hit a US-owned commercial vessel with an anti-ship ballistic missile on Monday, underscoring warnings that the world's most important trade artery remains too risky for navigation.

(3) Easing pressure from food and energy bills will help drive UK inflation down to 1.5% in May, well under the Bank of England's target, according to ING.

(4) Elon Musk said he would rather build AI products outside of Tesla if he doesn't have 25% voting control, suggesting the billionaire may prefer a bigger stake in the world's most valuable electric vehicle maker.

(5) British pension funds, which sold so many bonds two years ago the Bank of England was forced to intervene, are gearing up to flood the market with billions of pounds of private assets. 

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On today's podcast:
(1) UK police said they arrested six people over a plot to target the London Stock Exchange. Activists from the Palestine Action group were allegedly planning to cause damage to the LSE and to prevent the building from opening for trading Monday morning, the Met said in a statement. 

(2) UK Prime Minister Rishi Sunak will address Parliament on Monday after his government said it's ready to carry out further strikes on Houthi targets in Yemen if the group continues to attack commercial vessels in the Red Sea.

(3) As the Israel-Hamas war enters 100 days, the question remains whether it will spread from Gaza and turn into a wider conflagration. But with the appetite in Israel for war against Hezbollah growing and American influence on its ally seemingly waning, the answer is more likely to be found in Tel Aviv or Jerusalem than Beirut or Washington.

(4) Taiwan elected current vice president Lai Ching-te as leader of the global chip hub at the center of US-China tensions, putting in power a man Beijing has branded an "instigator of war."

(5) The US state of Iowa kicks off the race for the 2024 Republican presidential nomination today. Caucuses are set to take place this evening but there are fears sub zero temperatures of below -30 could dampen turnout. 

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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.

In the US - we preview the week's upcoming economic data, including retail sales. 

In the UK - we look ahead to the World Economic Forum in Davos

In Asia - we discuss the current climate for chipmakers in China 

In Washington - with the Iowa caucuses right around the corner, new polling suggests that the Republican race is tightening. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) The US and UK launched airstrikes on more than 60 Houthi rebel targets in Yemen, sparking vows of retaliation and a rise in oil prices after weeks of attacks in the Red Sea disrupted commercial shipping.

(2) Oil jumped as the US and allies launched airstrikes against Houthi rebels in Yemen, stepping up retaliation for attacks on ships in the Red Sea that have imperiled flows of fuel and goods through the vital waterway.

(3) European Central Bank President Christine Lagarde warned that a look at Donald Trump's first term as US president raises concerns about his potential return to power in 2025. 

(4) First Citizens Bank can proceed with a $1 billion lawsuit accusing HSBC of poaching dozens of employees and stealing trade secrets from Silicon Valley Bank shortly after its acquisition by First Citizens.

(5) Some of the most influential investors are giving the world's largest private equity firms a message: if you want money for your next fund, here's our list of demands. 

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