Bloomberg Daybreak: Europe Edition French Government Collapse Threat, US-China Chip Curbs & Europe Preps For New Cold War -
Nov 28, 2024
France is facing political turmoil that has sent banking stocks tumbling. Meanwhile, the US is considering further restrictions on semiconductor sales to China, signaling heightened tensions. Inflation concerns also arise as the Fed's preferred metric shows an uptick. A new study reveals racial discrimination against Black graduates in the UK job market, despite companies' pledges for diversity. On a proactive note, Nordic nations are ramping up preparedness for potential crises, including conflict and cyber threats.
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French Market Turmoil
- French bank stocks tumbled amid political crisis and potential no-confidence vote against Prime Minister Elisabeth Borne.
- The widening spread between French and German 10-year yields signals growing investor anxiety.
US-China Chip Curbs
- The US considers new restrictions on semiconductor and AI chip sales to China, escalating the tech crackdown.
- These measures, less strict than initially planned, follow negotiations with allies and industry lobbying.
UK Job Discrimination
- Black graduates in the UK face significant discrimination in top job sectors like finance and law.
- This disparity stems from recruitment barriers, socioeconomic factors, and lack of corporate knowledge, hindering their career progression.