Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Chancellor Olaf Scholz’s ruling coalition was punished in two regional elections in eastern Germany on Sunday, with populist parties on the extreme right and left taking more than 60% of the vote in Thuringia and almost half in Saxony.

(2) President Emmanuel Macron will meet on Monday with Bernard Cazeneuve, a former Socialist Party official and ex-premier, as he heads toward naming France’s next prime minister.

(3) Inventories of key raw materials are piling up in China, evidence that economic activity remains too feeble to clear a surplus that’s crushing prices from steel to soybeans.

(4) Israel’s largest labor group is poised for a nationwide strike on Monday, the strongest push yet to force the government into a Gaza cease-fire and secure the release of hostages held by Hamas. 

 5) - Ernesto Bertarelli might be Switzerland’s wealthiest man, but a $135 million bet on a sailing race is a lot when it risks disappearing in day.

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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 the August jobs report in the U.S, and earnings from Hewlett Packard Enterprise.
• In the UK -  a look at the challenges facing the UK's government as parliament returns from its summer break.
• In Asia – a preview of Taiwan's SEMICON summit.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) President Joe Biden delivered an emotional and bittersweet call for Democrats to rally behind Kamala Harris, as his party used the first night of its national convention in Chicago to celebrate his presidency while simultaneously passing the torch to a new generation.

(2) British tech entrepreneur Mike Lynch is among those missing after a luxury yacht was struck by a tornado and sank off the coast of Sicily.

(3) US intelligence agencies said they were “confident” that Iran was behind a recent hack of former President Donald Trump’s presidential campaign, casting the intrusion as part of an increasingly aggressive effort by the Islamic Republic to disrupt the November election.

(4) US Secretary of State Antony Blinken said Israeli Prime Minister Benjamin Netanyahu has accepted a cease-fire proposal to halt the war in Gaza and the next step is for “Hamas to say yes,” putting the onus on the group to end the 10-month conflict even as violence continued.

(5) The UK government signed off on London City Airport’s plan to grow passenger numbers by nearly a third, angering environmental campaigners who say it will increase carbon emissions. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Vladimir Putin replaced his long-serving defense minister with a trained economist in an unexpected change of guard that signals the focus on growing the Russian war economy more than two years after the invasion of Ukraine.

(2) Ukraine's leader Volodymyr Zelenskiy called on his people not to panic amid Russia's ongoing advance in the Kharkiv region that's jeopardizing a local city.

(3) Rishi Sunak will pitch himself as the best candidate to achieve a "more secure future" for Britain in a political speech designed to re-capture the narrative ahead of the UK general election, just over a week after his party suffered heavy losses in local votes.

(4) President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week, unveiling the measures at a White House event framed as a defense of American workers, people familiar with the matter said.

(5) the Norwegian oil and gas giant Equinor has quietly picked up the crown that once belonged to Russia's Gazprom . Norway now supplies 30% of the bloc's gas; Gazprom provided about 35% of all Europe's gas before the war. 

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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 U.S inflation data and earnings from Home Depot and Walmart.
• In the UK – a preview of the Choose France Summit.
• In Asia – a look at next week’s tech earnings in China.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Britain bounced back strongly from a shallow recession, providing some relief for Prime Minister Rishi Sunak who has so far struggled to deliver on his promise to grow the economy.

(2) 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.

(3) 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.

(4) 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.

(5) Arm Holdings 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.

(6) 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. 

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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. 

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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.

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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. 

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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. 

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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.

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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. 

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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.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Ukraine's President Zelenskiy says the aim of Ukraine's incursion into Russian territory is to create a "buffer zone" between the two countries.

(2) Safety at the Russian-occupied Zaporizhzhia nuclear power plant in southern Ukraine is deteriorating after a drone strike Saturday, International Atomic Energy Agency monitors warned.

(3) UK companies stepped up advertising for jobs for the first time this year, a sign of strength in the labor market, data from Adzuna showed.

(4) Britain’s prospective home buyers stepped up their search for property after the Bank of England’s first reduction in interest rates since the start of the pandemic, Rightmove Plc said.

(5) All eyes will turn to the mountains of Wyoming in this week for the Federal Reserve’s Jackson Hole symposium, your best chance every year to see a Nobel Prize-winning economist in a cowboy hat.

(6) Israel and Hamas blamed each other for impeding a cease-fire and hostage deal as the top US diplomat arrived in Tel Aviv to press for an agreement.

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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. 

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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. 

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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. 

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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 look at next week’s Fed meeting and a preview of Apple earnings.
• In the UK – a look at the Vienna Conference on Autonomous Weapons Systems.
• In Asia -  a preview of Samsung earnings.

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Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Microsoft and Google owner Alphabet sent a clear message to investors on Thursday: Our spending on artificial intelligence and cloud computing is paying off. The companies trounced Wall Street estimates with their latest quarterly results, lifted by a surge in cloud revenue — fueled in part by booming use of AI services.

(2) The Bank of Japan held interest rates steady and simplified its language on bond-buying, an outcome that prompted the yen to set a fresh 34-year low amid ongoing concerns of possible currency intervention.

(3) UK consumer confidence edged higher this month as easing inflation and the prospect of further tax cuts made people more willing to spend, a survey found.

(4) Israel is stepping up preparations for a potential all-out war with Hezbollah, as the risk of a devastating new phase in the country's conflict with Iran and its proxy militias grows more acute.  

(5) The investor Peter Cowley has a third book out. "Public Success, Private Grief" charts the entrepreneur and angel investor's struggles through alcoholism, the loss of two of his sons and now a terminal cancer diagnosis. He joins us for an exclusive interview to discuss his life and what others can learn from his experiences. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) BHP Group proposed a takeover of Anglo American that values the smaller miner at £31.1 billion ($38.8 billion), in a deal that would catapult the combined company’s copper production far beyond its rivals while sparking the biggest shakeup in the industry in over a decade.

(2) Deutsche Bank's trading revenue rose 7% in the first quarter, more than analysts had expected and better than most of the biggest US investment banks

(3) Barclays posted first-quarter revenue that topped analyst estimates after its stock traders collected a surprise windfall from tumultuous global markets. 

(4) BNP Paribas fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank.

(5) President Joe Biden signed a $95 billion national security package into law and said assistance to Ukraine would begin to move within "hours," capping off a bruising fight with Republicans over long-delayed assistance for Kyiv and other besieged US allies.

(6) Shares in Meta have dropped by as much as 19% in after-hours trading, after the social media giant said it plans to spend billions of dollars more than expected this year.

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) Shares in Meta have dropped by as much as 19% in after-hours trading, after the social media giant said it plans to spend billions of dollars more than expected this year.

(2) The world's largest mining company, BHP Group, has made a takeover approach for rival Anglo American, a move that could spark the biggest shakeup in the industry in over a decade.

(3) BNP Paribas fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank.

(4) Deutsche Bank relied on its traders and investment bankers to make up for a slowdown in income from lending, as Chief Executive Officer Christian Sewing seeks to deliver on an ambitious revenue goal.

(5) President Joe Biden signed a $95 billion national security package into law and said assistance to Ukraine would begin to move within "hours," capping off a bruising fight with Republicans over long-delayed assistance for Kyiv and other besieged US allies.

(6) Now that President Joe Biden has signed off on a law that could expel TikTok from the US market, Beijing must decide how best to retaliate over an attack on the world's most-valuable start-up.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Tesla is accelerating the launch of less-expensive cars in a bid to revive sagging demand following another disappointing quarter.

(2) The Senate passed a long-delayed $95 billion emergency aid package for Ukraine and other besieged US allies, clearing the way for resumed arms shipments to Kyiv within days.

(3) Rishi Sunak pledged to increase defense spending to 2.5% of GDP by end of the decade, as the prime minister seeks to ease concerns at home and abroad about the level of investment in the British armed forces. 

(4) Kering warned that profit will plunge in the first half of the year as the crisis at Gucci, its biggest brand, deepens.

(5) Traders in the US interest-rates market have started to put on wagers that the Federal Reserve will refrain from cutting borrowing costs this year. 

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Rishi Sunak’s government is preparing to get the first deportation flights to Rwanda off the ground by July after the UK prime minister’s flagship law to declare the African nation a “safe” destination for asylum seekers cleared its final hurdle in Parliament.

(2) The UK will send more Storm Shadow long-range missiles to Ukraine as part of its single biggest military aid package to the country since Russia’s invasion, Prime Minister Rishi Sunak said.

(3) Goldman Sachs' head of dealmaking for financial institutions in Europe, the Middle East and Africa has relocated to Paris and is planning to double headcount for his team in the city as M&A between banks and insurers accelerates.

(4) The FTSE 100 Index closed at a record high for the first time in more than a year, as recent equity market volatility and geopolitical risks prompted investors to pile into the defensive sectors that characterise the UK benchmark.

(5) Some investors and analysts are questioning whether CEO François-Henri Pinault is the right man to overhaul Gucci’s parent Kering at this critical juncture. 

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Your morning briefing, the business news you need in just 15 minutes. 

On today’s podcast: 

(1) US approval of more than $60 billion in aid throws a lifeline to Ukraine’s beleaguered military, though it’s unlikely to turn the tide in the war on its own. 

(2) After years of working to assure the US government that its popular social media app isn’t a threat to national security, TikTok’s loss in that fight now seems almost inevitable.

(3) The European Central Bank won’t be swayed from a first interest-rate cut in June by oil price uncertainty, Governing Council member Francois Villeroy de Galhau said. 

(4) Asking prices for UK homes rose at the highest annual pace in 12 months, driven by more high-end houses coming to market, according to the online sales portal Rightmove. 

(5) Tesla is consumed by chaos in shift to Musk’s robotaxi dream: the stock is sliding, a cheaper electric car is deprioritized and the CEO is riling the workforce with his biggest layoffs yet.

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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 next week’s Jackson Hole Symposium and Target earnings.
• In the UK – a look at the UK’s immigration dilemma.
• In Asia – a look at Vice Presidential candidate Tim Walz’s relationship with China.

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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 U.S core PCE and GDP data, and Tesla earnings.
• In the UK – A preview of European bank earnings.
• In Asia – A preview of Auto Show China

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 Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone barrage, according to two US officials, but Iranian media appeared to downplay the incident in the hours that followed the initial reports.

(2) Oil and gold surged, then retreated, after Iranian media appeared to downplay retaliatory strikes following last weekend’s unprecedented bombardment of Israel.

(3) The strikes comes hours after a top Iranian general said his country may reconsider its nuclear policies if Israel threatens to attack its atomic sites, an implicit warning that Tehran might race toward a nuclear weapon as rhetoric continued to escalate in the wake of its April 13 drone and missile attack.

(4) Netflix posted its best start to the year since 2020, attracting more new customers than anyone expected thanks to a strong slate of original programs and a crackdown on password sharing.

(5) Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalized by the UK government, according to contingency plans drawn up by officials. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Bank of England Governor Andrew Bailey said the UK and the rest of Europe are facing less of an inflation threat than the US, opening the prospect of a rate cut for Britain before the Federal Reserve moves.

(2) Federal Reserve Chair Jerome Powell is making life tougher for his peers around the world as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere.

(3) Europe's economy is nearing the end of a malaise that's resulted in more than a year of near stagnation, according to European Central Bank President Christine Lagarde.

(4) The European Union's waning clout versus major geopolitical rivals is sounding alarm bells in Europe's capitals, compelling leaders to discuss a radical transformation to boost the bloc's competitiveness in a hostile world.

(5) The world's two great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with American spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said.

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) UK inflation slowed less than expected last month as fuel prices crept higher, prompting traders to unwind bets on interest rate cuts.

(2) Bank of England Governor Andrew Bailey hinted that the UK might be able to lower interest rates before the US, saying inflation dynamics in the two economies are diverging.

(3) UK Chancellor of the Exchequer Jeremy Hunt said the prospect of interest rate cuts later this year would lift the mood of voters, hinting that Prime Minister Rishi Sunak won't call a general election until the fall.

(4) Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.

(5) Jamie Dimon has told Bloomberg that AI will transform banking, but it will also lead to job losses. 

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.

(2) Bank of England Governor Andrew Bailey hinted that the UK might be able to lower interest rates before the US, saying inflation dynamics in the two economies are diverging.

(3) UK Chancellor of the Exchequer Jeremy Hunt said the prospect of interest rate cuts later this year would lift the mood of voters, hinting that Prime Minister Rishi Sunak won't call a general election until the fall.

(4) The US will impose new sanctions on Iran targeting the country's missile and drone program following its weekend attack on Israel that threatened to push the Middle East into a wider conflict.

(5) Jamie Dimon has told Bloomberg that AI will transform banking -- but it will also lead to job losses. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Top Israeli military officials reasserted that their country has no choice but to respond to Iran's weekend drone and missile attack, even as European and US officials boosted their calls for Israel to avoid a tit-for-tat escalation that could provoke a wider war.

(2) China announced faster-than-expected economic growth in the first quarter – along with some numbers that suggest things are set to get tougher in the rest of the year.

(3) Federal Reserve Bank of New York President John Williams has told Blomberg the central bank will likely start lowering interest rates this year if inflation continues to gradually come down. 

(4) Goldman Sachs's back-to-basics approach is paying off as it posted profits that vaulted past expectations.

(5) The UK will criminalise the creation of sexually explicit deepfake images as part of plans to tackle violence against women.  

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Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) The huge salvo of missiles and drones launched from the arid plains of Iran toward Israel was the kind of direct conflict between the Middle East powers that the world had long feared would mark the explosion of a full-blown regional war.

(2) Iran’s weekend attack on Israel with more than 300 missiles and drones marks a perilous turn for a fragile region. It was an unprecedented action, the first strike on the Jewish state from Iranian soil. Iran declared it a massive success.

(3) Oil shrugged off Iran’s unprecedented attack on Israel, with prices easing on speculation that the conflict would remain contained. But markets are showing higher volatility as global traders turn to the dollar and gold.(4) Apple’s iPhone shipments slid a bigger-than-projected 10% in the March quarter, reflecting flagging sales in China despite a broader smartphone industry rebound.

(5)  German Chancellor Olaf Scholz will take a delicate message to China this week: Beijing has not acted on European warnings to end discriminatory business practices and failure to do so will result in an escalation in tensions.

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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 the IMF and World Bank meetings, and U.S Retail sales.
• In the UK – a look at German Chancellor Olaf Scholz’s visit to China.
• In Asia -  a look at a slew of China economic data, including GDP, Industrial production and retail sales

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Your morning briefing, the business news you need in just 15 minutes. 

On today's podcast:

(1) Morgan Stanley shares fell the most in five months after a report that a cadre of US regulators are scrutinising the firm’s efforts to prevent potential money laundering by wealthy clients.

(2) The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts.

(3) The UK economy grew for a second month in February, suggesting a recovery from recession is now under way. Gross domestic product rose 0.1% from January, the Office for National Statistics said Friday, in line with the gain forecast by economists. 

(4) Ex-Federal Reserve Chair Ben Bernanke is set to deliver his verdict on the Bank of England’s forecasting process on Friday at noon London time. Ahead of publication time, we look at the three most important questions the review poses for markets

(5) Credit traders at Barclays and HSBC are among those making a market for clients to bet against the debt of Thames Water amid an escalating crisis at the UK’s largest water utility.

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 Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:

(1) Investors are signaling the Federal Reserve will cut interest rates just twice this year, starting in September, after a fresh round of hot inflation sent Treasury yields soaring to 2024 highs.

(2) Traders pared bets on European Central Bank interest-rate cuts after US inflation topped forecasts, with markets now turning their attention to President Christine Lagarde’s remarks on Thursday.

(3) The US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent, in what would mark a significant widening of the six-month-old conflict, according to people familiar with the intelligence.

(4) A key creditor to Thames Water has warned that the UK risks deterring investment from its other infrastructure assets if it takes over the firm and imposes losses on bondholders.

(5) China’s consumer prices barely increased from a year earlier and industrial prices continued to slump, underscoring the deflationary pressures that remain a key threat to the economy’s recovery.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) European Union tariffs slowed the influx of Chinese-made electric vehicles in July, as the bloc moved to protect its automakers from low-cost competition.

(2) China's central bank chief has pledged further steps to support his nation's economic recovery, while cautioning that it won't be adopting "drastic" measures.

(3)Treasury yields surged after signs of a resilient US economy in the latest data releases prompted traders to lower their expectations of aggressive Federal Reserve interest-rate cuts this year.

(4) The UK government announces changes to a multi-billion pound compensation plan for victims of the infected blood scandal.

(5) As US-backed ceasefire talks restart in Doha, calls to reconstruct the Strip are becoming louder. So far, Israeli air strikes have left more than 42 million tonnes of debris across the Strip, according to the UN. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Today's CPI data is unlikely to settle the debate around the timing of Federal Reserve interest-rate cuts, with forecasters expecting some moderation following elevated inflation readings at the start of the year.

(2) Fitch Ratings has revised China's outlook to negative from stable, saying the government is likely to pile on debt as it seeks to pull the economy out of a real estate-driven slowdown. 

(3) Joe Biden says Israeli prime minister Benjamin Netanyahu's approach to the war is a mistake. The US President spoke to Univision in an interview taped last week when an airstrike killed seven aid workers.

(4) Around 7.4 million people in the UK are struggling to pay the bills, underlining the scale of the cost of living crisis even as the total declines from last year's peak, according to the Financial Conduct Authority. 

(5)  Meta is under immense pressure to ensure that social media content created by artificial intelligence doesn't cause havoc with elections this year. The company's top leaders say they haven't seen that happen yet on their services.Christopher Pitt 

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 Your morning briefing, the business news you need in just 15 minutes.On today's podcast:

(1) A new era of global rearmament is gathering pace, and it will mean vast costs and some tough decisions for western governments already struggling with shaky public finances.

(2) More UK firms are tipped to be takeover targets this year as rock-bottom valuations spark an M&A boom among the country’s stocks.

(3) Former Federal Reserve Bank of St. Louis President James Bullard said he’s expecting three interest rate cuts this year as inflation moves toward the central bank’s target while the economy remains resilient.

(4) L’Occitane's billionaire owner Reinold Geiger and Blackstone are nearing a deal to take the skin-care company private, people familiar with the matter said, potentially ending its 14-year run on Hong Kong’s stock exchange.

(5) Tesla's battered share price jumped by more than 5% on Monday after Elon Musk promised that the electric automaker would unveil a robotaxi in the coming months.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Robert Stheeman, the bond market whisperer who raised £3 trillion for Britain warns liquidity is paramount as governments splurge on debt.

(2) Ben Bernanke, the former Fed chair, is expected this week to suggest the Bank of England adopt a new innovation, a flexible set of "scenarios", in a bid to update its forecasting process and repair its battered reputation.

(3) The European Banking Federation says lenders in the region won't be able to compete with their US rivals if regulators continue to pile on ESG rules that Wall Street remains free to ignore.

(4) US Treasury Secretary Janet Yellen will meet China's central bank chief and former economic czar in Beijing as she wraps a trip that's been a delicate balancing act in strengthening bilateral ties while delivering sharp criticisms of Beijing's economic policies. 

(5) The UK's support for Israel is "not unconditional," Foreign Secretary David Cameron warned days after an Israeli military strike killed three British aid workers. 

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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 U.S CPI data and bank earnings.
• In the UK – a look at next week’s ECB meeting and rate decision.
• In Asia -  a preview of China inflation data.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
 
(1) Speaking Exclusively to Blooomberg Argentina's President Javier Milei says he won't touch existing trade agreements with Beijing.

(2) Federal Reserve Bank of Minneapolis President Neel Kashkari said interest-rate cuts may not be needed this year if progress on inflation stalls, especially if the economy remains robust.

(3) President Joe Biden told Israeli Prime Minister Benjamin Netanyahu that US support for his war in Gaza depends on new steps to protect civilians, a shift in position for the American leader who has faced increased pressure to take a harder line against Israel amid mounting deaths.

(4) Oil extended advances on escalating tensions in the Middle East after blowing past the $90-a-barrel threshold in the previous session.

(5) A visibly shaking Joe Lewis, the 87-year-old UK billionaire who pleaded guilty to insider trading, was spared jail time by a federal judge in New York. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Federal Reserve Chair Jerome Powell signaled policymakers will wait for clearer signs of lower inflation before cutting interest rates, even though a recent bump in prices didn't alter their broader trajectory.

(2) President Joe Biden is scheduled to speak with Israeli Prime Minister Benjamin Netanyahu by phone on Thursday, as tensions between the two leaders deepen after the death of seven aid workers delivering food to displaced Palestinians in Gaza, according to a US official. 

(3) Barclays left a cap on its bankers' bonuses even after regulators told lenders they can pay their staff as they like as part of the government's broader push to make post-Brexit Britain more attractive as a financial center.

(4) Apple has teams investigating a push into personal robotics, a field with the potential to become one of the company's ever-shifting "next big things," according to people familiar with the situation.

(5) Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them.  

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Taiwan's strongest earthquake in a quarter of a century leveled dozens of buildings on the eastern side of the island, reportedly killing at least four people and disrupting some chip production lines.

(2) President Joe Biden said Israel hadn't done enough to protect civilians after the death of seven aid workers, in some of his sternest criticism yet of the country's conduct in the months since it launched a military campaign against Hamas in Gaza. 

(3) Two Federal Reserve officials who vote on monetary policy decisions this year said they still expect the US central bank to cut rates three times in 2024, though they're in no rush to begin lowering borrowing costs

(4) Tesla had Wall Street analysts second-guessing their models as the first quarter came to a close. One after another reduced their estimate for vehicle deliveries.

(5) NATO Secretary General Jens Stoltenberg is proposing to establish a fund of allied contributions worth $100 billion over five years for Ukraine as part of a package for alliance leaders to sign off when they gather in Washington in July.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) An Israeli airstrike on Iran's embassy compound in Syria killed a number of people including a top military commander, Iranian and Syrian state media said, stoking tensions between the longtime adversaries.

(2) Bond traders priced in less monetary-policy easing by the Federal Reserve this year — and briefly set the odds of a first move in June below 50% — after a gauge of US manufacturing activity showed expansion for the first time since 2022.

(3) Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path.

(4) Inflation in UK stores dropped to its lowest level in more than two years as supermarkets compete to lure shoppers with low prices.

(5) Donald Trump's net worth tumbled by $1 billion along with the shares of his social media business after it disclosed a more than $58 million loss in 2023, as revenue for the former president's Truth Social platform trickled in.  

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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 the March jobs report and Disney’s annual meeting of shareholders.
• In the UK -  a preview of European core inflation data.
• In Asia – a look at a potential TikTok ban in the U.S, and a preview of China PMI data.

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Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Federal Reserve Bank of Chicago President Austan Goolsbee said he is growing more concerned about the labor market than inflation amid recent progress on price pressures and disappointing jobs data. 

(2) The World Health Organization has declared a fast-spreading Mpox outbreak in Africa a global health emergency as the agency seeks to contain the spread of the potentially deadly virus

(3) Two weeks after Iran vowed to retaliate for the killing of a senior Hamas leader, the biggest surprise has been that the attack still hasn't happened yet.

(4) Apple is seeking new sources of revenue, is moving forward with development of a pricey tabletop home device that combines an iPad-like display with a robotic limb.

(5) Untreated waste that flows directly into rivers and lakes is making people sick and harming wildlife right across Europe 

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Bloomberg's Nathan Hager breaks down the latest PCE data with Bloomberg Economics and Policy Editor Michael McKee. Plus, reaction to the data from Tom Porcelli, Chief US Economist at PGIM Fixed Income, and Wells Fargo Senior Economist Sarah House. 

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1)  Federal Reserve Governor Christopher Waller said there is no rush to lower interest rates, emphasizing that recent economic data warrants delaying or reducing the number of cuts seen this year.

(2)  JP Morgan's chief global equity strategist warned clients on Wednesday that they could be “stuck on the wrong side” of the momentum trade when it eventually falters, and he encouraged them to consider diversifying their holdings and thinking about risk management in their portfolios.

(3) Ozempic could be profitably produced for less than $5 a month even as maker Novo Nordisk charges almost $1,000 in the US, according to a study that revives questions about prices for top-selling treatments for diabetes and obesity.

(4) Treasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week.

(5) The huge scale of the spending demands facing the next UK government is laid bare in a new report by the head of an influential parliamentary committee.

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 Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) The 1.6 mile-long Baltimore bridge collapsed in a matter of seconds. The catastrophic consequences are set to stretch out for weeks.

(2) Japan stepped closer to currency intervention with its strongest warning yet as the yen slid to the weakest level in about 34 years against the dollar.

(3) As many as 8 million UK workers are at risk of losing their jobs to artificial intelligence with current government policy, the Institute for Public Policy Research warned.

(4) Cocoa futures surged above an unprecedented $10,000 a metric ton on Tuesday before erasing gains and taking a breather from a historic rally that has seen prices of the key chocolate ingredient double this year.

(5) Betting against former president Donald Trump's social media startup is one of the most difficult and expensive short trades in the market, according to financial analytics firm S3 Partners.

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