Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors while rejecting the across-the-board hikes sought by Donald Trump, people familiar with the matter said.(2) Israeli Prime Minister Benjamin Netanyahu struck a defiant tone against President Joe Biden after the US withheld a shipment of bombs as a warning to its top Middle East ally not to invade the southern Gaza city of Rafah.(3) After months in which the Bank of England and markets have been at loggerheads over the direction of interest rates — with the US Federal Reserve more powerful in shaping expectations than words from the UK central bank — they have now fallen roughly into line.(4) Arm Holdings Plc shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence spending spree is slowing.(5) In a small side room, roughly 40 people, including some of Wall Street’s most senior executives of color, crowded around a rectangular array of tables for an invitation-only panel and confronted hedge fund manager Bill Ackman for his attacks on diversity, equity and inclusion, or DEI, initiatives, according to five attendees. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Bank of England Governor Andrew Bailey may deliver a lift to British consumers with a stronger signal on when the central bank can lower borrowing costs from their highest in 16 years. (2) Former Bank of England chief economist Andy Haldane was debanked like Nigel Farage, the one-time Brexit Party leader, because he was designated "politically connected." (3) US President Joe Biden said he would halt additional shipments of offensive weapons to Israel if the country proceeded with a ground invasion of Rafah, decrying the potential loss of civilian life as "just wrong." (4) London is missing out on a rebound in Europe's initial public offering market, in yet another sign of its waning prospects as a listing destination.  (5) John Ternus, the head of hardware engineering, is emerging as a potential successor to Tim Cook as the CEO of Apple.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US paused a shipment of bombs to Israel over worries about Israel nearing a decision to launch a wide-ranging military offensive on the southern Gaza city of Rafah, which President Joe Biden opposes, according to a senior administration official. (2) The US has revoked licenses allowing Huawei Technologies to buy semiconductors from Qualcomm and Intel, according to people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker. (3) Chinese President Xi Jinping arrived in Serbia on the second leg of his European tour as he sought to tighten Beijing’s embrace of the Balkan nation in contrast with a more difficult relationship with most of Europe. (4) China-based ByteDance made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court. (5) China is likely using data from hacks of UK government institutions to build profiles of British military personnel and people in other sensitive roles as Beijing expands espionage against the US and its allies, government officials and cyber experts said. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1)  UBS Group returned to profit after two loss-making quarters, with both wealth management and the investment bank adding to sustained progress in the integration of Credit Suisse after its emergency rescue last year.  (2) The Palestinian militant group Hamas said it had agreed to a cease-fire proposal for the Gaza Strip, but Israel's war cabinet unanimously rejected it as "far from Israel's necessary demands," dashing hopes for an immediate pause in the fighting. (3) Chinese President Xi Jinping called on France to help fend off a "new Cold War" as the European Union increasingly aligns with US concerns over security risks and trade tensions. (4) US chipmaker Nvidia is investing in Wayve Technologies joining a $1.05 billion funding round for the UK startup that wants to get its autonomous-driving technology into cars. (5) People who left a job for a new one have reported being less satisfied at work than those who stayed put, according to a survey from the Conference Board, a sharp reversal from their sentiments just a year earlier. See omnystudio.com/listener for privacy information.

loomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a preview of Apple’s latest product event and earnings from Walt Disney. In the UK – a look at next week’s Bank of England meeting. In Asia – a look ahead to Chinese President Xi Jinping’s visit to Europe. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Labour have taken a parliamentary seat from the Conservatives in northern England. It's the first major setback in a predicted slew of defeats for Sunak’s Tories, as results from local council elections across England plus key mayoralties like London, Tees Valley and West Midlands are announced on Friday and over the weekend. (2) Apple shares jumped in late trading after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.  Apple also announced the biggest stock buyback in US history. (3) The Bank of England's effort to stimulate the economy during the pandemic is responsible for all £115 billion ($144 billion) of the net losses on quantitative-easing that UK taxpayers will have to cover, analysis by Bloomberg shows. (4) Bloomberg has found that Huawei Technologies, the Chinese telecommunications giant blacklisted by the US, is secretly funding cutting-edge research at American universities including Harvard through an independent Washington-based foundation. (5) Goldman Sachs is preparing to scrap an EU-era cap on bonuses for hundreds of its staff in Britain, paving the way for some successful and highest-paid traders and investment bankers to make many times their base salaries. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) The Federal Reserve signaled fresh concerns about inflation while indicating it was likely to keep borrowing costs elevated for longer rather than raising them again.(2) Another suspected intervention by Japanese authorities to support the yen, this time in late New York trading, ran into resistance from traders keen to keep selling the currency. (3) The Federal Reserve and other top US regulators are forging ahead with their landmark plan to make big banks hold more capital despite calls from some critics to scrap it.  (4) The UK defied a decline in foreign direct investment across Europe last year, in a welcome vote of confidence for Prime Minister Rishi Sunak's economic program.  (5) Tesla is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in.  See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation.(2) Japan likely conducted its first currency intervention since 2022 to prop up the yen on Monday, according to a Bloomberg analysis of central bank accounts.(3) Chancellor of the Exchequer Jeremy Hunt has warned the UK's financial watchdog over its plans to name firms it's investigating at an early stage, a rare political intervention against Britain's top finance regulator. (4) New York City police officers surged onto Columbia University's campus late Tuesday, breaking up an escalating protest and arresting pro-Palestinian demonstrators who had barricaded themselves in a building.  (5) Rishi Sunak urged Conservative Party faithful in a pre-election speech to take part in "the greatest comeback in political history," a tacit admission of the long odds the prime minister faces in local votes across England this week. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) HSBC CEO Noel Quinn is unexpectedly stepping down after nearly 5 years in the job, triggering a search for a replacement at Europe's largest bank.(2) The US Treasury ramped up its estimate for federal borrowing for the current quarter to $243 billion, more than most dealers had anticipated, in a move that largely reflected weaker cash receipts than officials had expected.(3) A pair of traders in Hong Kong have left Societe Generale after the French bank discovered a batch of risky bets that went undetected by the firm's risk-management systems, according to people familiar with the matter.(4) Surveying the fallout triggered by the resignation of Scotland's First Minister Humza Yousaf, one man appears set to be the biggest beneficiary: the leader of the UK's main opposition Labour Party, Keir Starmer.(5) Elon Musk's net worth is soaring after it plunged to the lowest level in almost a year. In the past five days, the world's third-richest person has gained $37.3 billion in net worth, according to the Bloomberg Billionaires Index. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Bloomberg Economics' Fed sentiment index — powered by a natural language processing algorithm based on more than 60,000 Fed headlines — shows that in December, Powell delivered a major pivot. By hinting at a swifter shift toward rate cuts, he gave markets a boost and helped the economy dodge a downturn. (2) The yen swung in holiday-thinned market conditions, punching through 160 per dollar to touch its weakest in 34 years before erasing all its losses for the day and rebounding strongly.(3) Scotland's First Minister Humza Yousaf may step down, according to UK media reports. The Sunday Times says he's preparing to resign today, but the BBC says the SNP leader has not yet made a final decision on his position.(4) Elon Musk's surprise visit to China appears to have paid immediate dividends, with Tesla Inc. clearing two key hurdles to introduce its driver-assistance system to the world's biggest auto market.(5) British taxpayers are paying more and more for a planning system buckling under the strain of years of under funding and increasingly strident NIMBYism. See omnystudio.com/listener for privacy information.