Bloomberg Daybreak: Europe Edition Funds Commit 5% To UK, Global Markets Soar, Starmer House Fire Probe
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May 13, 2025 UK pension fund managers are stepping up, committing 5% of their assets to boost local startups. Asian stock markets are rising, thanks to a rally in US equities and easing US-China trade tensions. Meanwhile, a fire at Prime Minister Keir Starmer's residence is under investigation by counter-terrorism police, stirring political curiosity. Apple's plan to enhance iPhone battery life with AI technology aims to tackle persistent customer frustrations. Tune in for this morning's key economic insights and headlines!
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UK Pension Funds Increase Domestic Investment
- UK pension funds have voluntarily agreed to invest 5% of their assets domestically, focusing on private markets and infrastructure.
- This marks a notable increase from the previous 5% target and aims to inject up to £50 billion in five years.
Market Rally On US-China Tariff Truce
- Global stock markets rallied following a US-China tariff truce, signaling hope for an end to the trade war.
- Investors gained confidence with reduced Federal Reserve rate cut expectations, interpreting the truce as a sign of a softer economic landing.
Xi Jinping Gains From Tariff Stand-Off
- China's Xi Jinping benefits politically by standing firm in the tariff war, as tariff reductions validate his strategy.
- The 90-day tariff rollback provides a framework to cautiously resume negotiation and trade between US and China.