Bloomberg Daybreak: Europe Edition

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.

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. See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

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.See omnystudio.com/listener for privacy information.