Bloomberg Daybreak: Europe Edition

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.  See omnystudio.com/listener for privacy information.

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. See omnystudio.com/listener for privacy information.

 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. See omnystudio.com/listener for privacy information.

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.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 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 See omnystudio.com/listener for privacy information.

 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. 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 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.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 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. 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 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. See omnystudio.com/listener for privacy information.

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.  See omnystudio.com/listener for privacy information.