15% EU Tariff ‘Progress’, UK-India Trade Deal, Trader Convictions At Risk
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The European Union and the US are progressing toward an agreement that would set a 15% tariff for most imports, according to diplomats briefed on the negotiations. (2) Top representatives from the European Union met with Chinese President Xi Jinping Thursday, opening their first in-person summit since 2023 that’s exposing a divide between the bloc and Beijing just months after earlier signs of a possible detente. (3) Elon Musk warned of a hard year ahead for Tesla Inc., adding to the automaker’s woes after reporting one of its worst quarters of the last decade. (4) The number of companies and organizations compromised by a security vulnerability in Microsoft Corp.’s SharePoint servers is increasing rapidly, with the tally of victims soaring more than six-fold in a few days, according to one research firm. (5) British car and van production in the first half of this year has hit its lowest level since 1953, excluding the industry shutdown during Covid. Podcast Conversation: The Odyssey Is Making Movies Feel Like a Concert: Jason BaileySee omnystudio.com/listener for privacy information.
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US-Japan 15% Tariff Deal, Nuclear Security Hack, China’s EU Investment
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on US imports from the country, including its auto sector, while creating a $550 billion fund backed by the Japanese to make investments in America. (2) UniCredit dropped its bid for rival Banco BPM ending an eight-month standoff with its rival and the Italian government over the plan to create the country’s largest lender. (3) The US agency responsible for maintaining and designing the nation’s cache of nuclear weapons was among those breached by a hack of Microsoft Corp.’s SharePoint document management software, according to a person with knowledge of the matter. (4) Morgan Stanley is being probed by the Financial Industry Regulatory Authority over its vetting of clients for the risk of money laundering, the Wall Street Journal reported. (5) SAP reported quarterly cloud and software sales that fell just short of estimates as tariff insecurities weighed on Europe’s most valuable company. Podcast Conversation: Meme Stock Fever Is Spreading Like It’s 2021 With Kohl’s SoaringSee omnystudio.com/listener for privacy information.
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) A cohort of the world’s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions.(2) Junk bond funds based in Europe saw their biggest weekly inflow of the year last week, as investors continue to pile into an asset class that offers relatively generous yields, stability and diversification away from the US dollar.(3) AstraZeneca plans to invest $50 billion in the US before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines.(4) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington.(5) The ruling Labour party and upstart rival Reform UK separately opened the door to a potential increase in the retirement age, a move that would help cut the government’s costs but almost certainly draw a backlash from the public.Podcast Conversation: How YouTube and Tiktok Are Shaping a New Generation of ChefsSee omnystudio.com/listener for privacy information.
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EU Plans For No Deal, $2 Trillion GDP Hit , Musk’s Empire Creaks
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) European Union envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline.(2) The global economy started 2025 on a solid footing. Now the ground has shifted. We estimate the average US tariff rate has risen to 13.3% from 2.3% in January. That's already the highest rate since 1939. As the impacts of President Trump's trade war crystallize, we expect a $2 trillion hit to global GDP by the end of 2027.(3) Japanese Prime Minister Shigeru Ishiba said he intended to stay on even as his ruling coalition suffered a historic setback in an upper house election on Sunday, an outcome that may further unsettle markets.(4) London Stock Exchange Group is weighing whether to introduce 24-hour trading in response to growing demand from small investors, the Financial Times reported.(5) UK home sellers slashed prices at a record pace this month as a decade-high number of properties for sale tips the scales in favor of buyers in some of the nation’s most-expensive markets.Podcast Conversation: In 'Alien: Earth' the Real Baddie Is Tech's Corporate CultureSee omnystudio.com/listener for privacy information.
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Daybreak Weekend: Tesla Earnings, ECB Decision, Japan Election
Bloomberg Daybreak Weekend with Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to housing data and earnings from Tesla. In the UK – a look ahead to the next ECB monetary policy decision. In Asia – a look at ahead to Japan’s upper house election. See omnystudio.com/listener for privacy information.
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