Bloomberg Daybreak: Europe Edition

• Dollar Pain Hits Investors, Tariff Supply Shock, Defense Takeover Targets

  Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Foreign investors who bought US stocks and dollars are facing significant losses due to the decline in the S&P 500 and the dollar's value. (2) President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home. (3) The UK economy will grow half as quickly as previously expected in 2026 as Donald Trump’s sweeping tariffs hit business investment, according to EY Item Club. (4) Canada’s next prime minister is set to inherit a half-year of flat economic growth, economists predict, as people take to the polls on election day. (5) Eleven people were killed in Vancouver and dozens were injured after a driver plowed into a large crowd at a street festival on Saturday evening, according to police. (6) Private equity firms are scouring for investment opportunities in European defense - chasing a sector that was once seen as toxic, driven by a historic shift toward increased military spending. Podcast conversation: Did We Finally Find Life on Another Planet?See omnystudio.com/listener for privacy information.

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• Daybreak Weekend: Tech Earnings, UK Elections, China PMI Preview

  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 ahead to the April jobs report and big tech earnings. In the UK – a look ahead to local elections. In Asia – a look ahead to China PMI data. See omnystudio.com/listener for privacy information.

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• Reeves UK Tariff Bind, China Rethinks US Levies, Prime Property Clash

  Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Donald Trump’s tariffs and a barrage of rising domestic bills sent UK household confidence to its lowest level since the Labour government came to power.(2) President Donald Trump said his administration was talking with China on trade, after Beijing denied the existence of negotiations on a deal and demanded the US revoke all unilateral tariffs.(3) Treasuries jumped after comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June.(5) Google parent Alphabet reported first-quarter revenue and profit that exceeded analysts’ expectations, buoyed by continued strength in its search advertising business.(6) The US will demand that Russia accept Ukraine’s right to develop its own, adequately equipped, army and defense industry as part of a peace agreement, according to people familiar with the matter, pushing back on Russia’s insistence that the country largely demilitarize as a condition to end the war.See omnystudio.com/listener for privacy information.

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• 'Nonsensical' Trade War, Possible China Relief, Billionaire’s Tariff Pain

  Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Confronted with fresh warnings from financial markets, business leaders and top advisers, President Donald Trump this week eased off on two of his frequent punching bags: Jerome Powell and China.He turned down his aggressive rhetoric a day after meeting with executives from Walmart Inc., Home Depot Inc. and Target Corp., who said import taxes could disrupt supply chains and raise the prices of goods, according to people familiar with the matter (2) Citadel founder Ken Griffin said President Donald Trump’s trade war has derailed business leaders’ plans to spend the next four years focusing on growth.Griffin had previously criticized Trump’s tariffs even though he said he agrees with the president’s assessment of the issues that the US faces. (3) President Trump has mused that he could announce tariff rates for countries, including China, “over the next two to three weeks.” At the same time, Trump said the deadline would ultimately depend on whether China engaged. (4) The UK isn’t in a hurry to strike a deal with the US that lowers the tariffs President Donald Trump’s administration has slapped on British imports, Chancellor of the Exchequer Rachel Reeves said, highlighting that Britian is prepared to stand by red lines on safety standards. (5) BNP Paribas SA reported record income from equities trading as the French lender rode the global market volatility in the first quarter of this year. The French lender on Thursday reported a 42% surge in equities trading revenue to €1.19 billion ($1.35 billion) in the three months through March, beating even the most optimistic analyst estimate. It was also the highest in data compiled by Bloomberg and going back to 2007. (6) Companies moving office in London last year leased more expansion space than they have done since 2019, just the year before the coronavirus pandemic upended white-collar working practices and sent shock waves through commercial real estate markets. (7) Podcast conversation: Gyms Might Never Be the SameSee omnystudio.com/listener for privacy information.

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  17:54
• Trump: Not Firing Powell, Recession Fear, Musk’s Tesla Focus

  Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.(2) US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.(3) Federal Reserve Governor Adriana Kugler said tariffs will likely put upward pressure on prices and have a bigger economic effect than previously expected.(4) The head of International Monetary Fund warned that the chances of global recession will rise if uncertainty over a US-led trade war continues to drag.(5) UK Chancellor of the Exchequer Rachel Reeves will make a personal appeal for a trade deal to US Treasury Secretary Scott Bessent in Washington this week, aiming to “defend British interests” and secure preferential treatment on tariffs.(6) Elon Musk vowed to pull back “significantly” from his work with the US government to concentrate on Tesla, easing concerns of investors who lamented his time in Washington as a distraction.(7) Podcast conversation: Unwind Like a BossIllustration: Bloomberg/GettySee omnystudio.com/listener for privacy information.

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