Bloomberg Daybreak: Europe Edition

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 – a preview of core PCE inflation and GDP data, and a look ahead to Dell and HP earnings. In the UK - a look ahead to the 77th World Health Assembly in Geneva. In Asia – a preview of a two-day summit between Japan, South Korea and China in Seoul. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) In the City of London, executives are looking forward to the imminent general election as a chance for clarity after a turbulent few years.(2) A two-speed global economy skewed by US strength is overshadowing this week’s Group of Seven meeting as officials confront the prospect of less synchronized monetary policies.(3) Segantii is shutting down and returning capital to investors after an insider trading charge in Hong Kong sparked concerns about a flood of redemptions, according to people familiar with the matter.(4) Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly $200 billion, according to people familiar with the matter.(5) Alphabet and Meta Platforms have held discussions with major Hollywood studios about licensing content for use in the tech giants’ artificial intelligence video generation software, according to people familiar with the matter.(6) Citigroup, HSBC Holdings and Barclays are ordering more staffers to report to company offices five days a week as regulatory changes make it trickier for Wall Street to allow working from home. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Standing in the rain and being drowned out by protesters playing the Labour Party’s 1997 victory anthem “Things Can Only Get Better” will not have been Rishi Sunak’s preferred backdrop for his announcement naming the date of the next UK election.(2) UK Prime Minister Rishi Sunak’s decision to stake the Conservative Party’s future on a rare summer election was so secret that even his chancellor of the exchequer, Jeremy Hunt, appeared surprised by the plan.(3) Nvidia the chipmaker at the center of an artificial intelligence boom, gained in late trading after a bullish sales forecast showed that AI computing spending remains strong.(4) Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target.(5) BHP Group just won an extra week to convince Anglo American Plc on its $49 billion takeover plan. But the world’s biggest miner still must resolve the deal’s most intractable obstacle: What to do about South Africa? See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) UK inflation cooled less than expected last month due in part to lingering price pressures at restaurants and pubs, threatening to delay interest rate cuts from the Bank of England. (2) European Central Bank President Christine Lagarde indicated that an interest-rate cut is probable next month with the rapid gain in consumer-price growth now largely contained.(3) Two Federal Reserve officials reinforced a higher-for-longer message on interest rates, emphasizing a need for patience as the central bank waits for more evidence inflation is moving lower.(4)  Barclays is among Wall Street firms weighing whether to require scores of workers to commute to company offices five days a week, as US brokerage regulators enact new rules for supervising work at home.(5) Cheap electric vehicles from China are already pushing into Europe, undercutting one of the region's biggest industries. BYD which overtook Tesla. 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 chief prosecutor for the International Criminal Court said Monday he is seeking arrest warrants for Israeli Prime Minister Benjamin Netanyahu and Hamas leader Yahya Sinwar on war crimes charges.(2)  Raisi’s death in Iran opens questions over Khamenei succession. In Saudi Arabia, the  Crown Prince has canceled trips over King Salman’s ill health. This is another complicating factor in Washington's push for a US dense agreement with Riyadh(3) The chief executive officer of JPMorgan, Jamie Dimon, told shareholders the timetable is “not five years anymore,” in response to a question about how long he planned to remain CEO. The largest US bank is “well on the way” with its succession plans, he said during the firm’s investor day.(4) Martin Gruenberg will step down as head of the Federal Deposit Insurance Corp. after findings of a toxic work environment put the regulator at the center of a heated political fight and fueled calls for his removal. (5)  Cleveland Fed President Loretta Mester said policy is restrictive, but policymakers need to wait for more evidence about the path of inflation before adjusting interest rates. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1)  Iranian President Ebrahim Raisi has been killed in a helicopter crash in a mountainous area of the country. Rescuers on Monday found the helicopter that had been carrying the president and other officials including Foreign Minister Hossein Amirabdollahian, who also died, the semi-official Mehr news agency reported. (2) The death of Iranian President Ebrahim Raisi in a helicopter crash raises the immediate question of who will succeed him in running the government. (3) Israel's Prime Minister Benjamin Netanyahu is facing increasing pressure from the other two members of the country's war cabinet. Opposition leader Benny Gantz says he'll resign from the cabinet if Netanyahu doesn't adopt a new post-war strategy in Gaza. (4) London still leads European cities in attracting foreign direct investment in financial services, with the UK's share of new projects reaching the highest level in a decade, a survey by Ernst & Young showed. (5) Buyout firms splurged on low-margin British consumer companies, seduced by bargain prices and cheap money. Higher interest rates are upending that wager. See omnystudio.com/listener for privacy information.

In the US – a preview of home sales data and Nvidia earnings. In the UK – a look at the upcoming meeting of G7 finance ministers and central bankers in Italy. In Asia – a preview of the inauguration of Taiwan’s president. See omnystudio.com/listener for privacy information.

 Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) China’s retail sales grew at the slowest pace since 2022 while industrial production accelerated, highlighting the unbalanced recovery of the world’s No. 2 economy.(2) China removed the floor on mortgage rates and lowered the minimum down payment ratios for individual homebuyers in its most drastic move to shore up the beleaguered property market. (3)  Jamie Dimon tells Bloomberg that when it comes to China, the right thing for America is to “fully and deeply” engage.(4)  Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.(5) Governments and companies want the clean fuel to play a big role in fueling the continent. If they’re wrong, the planet will be worse off than before.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Slovak Prime Minister Robert Fico suffered life-threatening injuries after being shot in public, the first assassination attempt on a European leader in more than two decades that underscores the deep polarization in the country.(2) Chinese President Xi Jinping signaled to Vladimir Putin that ties between the two nations remain strong, as the Russian leader embarks on a new term with the war in Ukraine dragging into its third year.(3) The US Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday. Wall Street traders sent stocks to all-time highs as bond yields slumped after an inflation slowdown reinforced bets the Federal Reserve will cut interest rates as early as September.(4) Ben Bernanke said there is growing interest within the Bank of England over publishing its own interest-rate projections, one of the strongest signals yet that the central bank is mulling a major communications shake-up. (5) HSBC is leaning towards appointing its next chief executive officer from a shortlist of internal candidates as it begins its hunt for a successor to outgoing boss Noel Quinn.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) China is considering a proposal to have local governments across the country buy millions of unsold homes, people familiar with the matter said, in what would be one of its most ambitious attempts yet to salvage the beleaguered property market. (2) China blasted the Biden administration's move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics. (3) Federal Reserve Chair Jerome Powell said the US central bank must be patient and wait for evidence that inflation continues to cool, doubling down on the need to keep borrowing costs elevated for longer.  (4) Britain's failure to complete its sustainable finance framework is putting billions of pounds worth of funding at risk, according to a UK investor association representing £19 trillion ($24 trillion) of assets. (5) The UK government has pushed back against a number of recommendations designed to combat sexism and misogyny in the finance industry.  See omnystudio.com/listener for privacy information.