Bloomberg Daybreak: Europe Edition Gold Hits Record High, Nestlé CEO Affair Exit, Lab Diamond Pressure
Sep 2, 2025
Matthew Hill, a Bloomberg reporter specializing in the impact of lab-grown diamonds, joins the discussion on how this emerging industry is transforming Botswana's economy, long reliant on natural diamond mining. Hill highlights the challenges Botswana faces, including declining demand for natural diamonds leading to economic instability and rising unemployment. The conversation also touches on the surge in gold prices amidst market uncertainties and the leadership shake-up at Nestlé due to a scandal, illustrating broader implications for global business.
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Gold Rally Fueled By Fed Cut Bets
- Gold rallied to record highs as markets priced in imminent Fed rate cuts and worries about Fed independence.
- Investors bought gold as a safe haven amid weakening jobs data and political pressure on the central bank.
Nestlé CEO Removed After Undisclosed Romance
- Nestlé dismissed CEO Laurent Fréixe after a probe found an undisclosed romantic relationship with a direct subordinate.
- The company named Philip Navratil, Nespresso head, as his replacement and Fréixe will not receive an exit package.
Revolut Staff Can Sell Shares At $75B
- Revolut launched a secondary share sale valuing the company at about $75 billion and allowing staff partial exits.
- The valuation jumps from $45 billion last year, underscoring strong private market demand for fintech assets.