Funds Commit 5% To UK, Global Markets Soar, Starmer House Fire Probe
Your morning briefing, the business news you need in just 15 minutes. On today's podcast:(1) UK pension fund managers have agreed to invest at least 5% of their assets at home, marking a win for the Labour government that’s seeking to boost the economy by drawing billions of pounds into local startups and infrastructure projects.(2) Most Asian stock markets rose, following a rally in US equities, on optimism the US-China trade truce marks the end to an all-out tariff war. (3) Xi Jinping’s decision to stand his ground against Donald Trump could hardly have gone any better for the Chinese leader. (4) UK counter-terrorism police are investigating a fire that took place in the early hours of Monday morning at a residential London home owned by Prime Minister Keir Starmer. (5) Apple is planning to use artificial intelligence technology to address a frequent source of customer frustration: the iPhone’s battery life. Podcast conversation: Samsung Debuts $1,099 S25 Edge, Kicking Off Wave of Thin PhonesSee omnystudio.com/listener for privacy information.
-------- Â
17:06
UPDATE: Major US-China Tariff Cuts Propel Stocks And Dollar Higher
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) The US and China will temporarily lower tariffs on each other’s products, according to a joint statement, in a move to cool trade tensions and give the world’s two largest economies three more months to resolve their differences.(2) Investors rushed back into stocks and risk assets, powering a 3% surge in S&P 500 futures, after China and the US agreed to cut tariffs and de-escalate a trade war that had sown turmoil in global markets. Treasuries and gold tumbled.(3) Treasury Secretary Scott Bessent also told press the positive mood music set by the UK and Swiss teams was in stark contrast to the EU.(4) Shares of pharmaceutical companies fell across the world after US President Donald Trump said he planned to order a cut in US prescription drug costs to bring them in line with other countries, prompting concern that profits will take a hit.(5) UniCredit has posted first-quarter profit that topped analyst expectations, as net income in the first three months of the year rose to €2.77 billion(6) Donald Trump’s effort to secure peace in Ukraine is reaching a decisive moment with Ukraine’s Volodymyr Zelenskiy challenging Vladimir Putin to engage in talks this week. See omnystudio.com/listener for privacy information.
-------- Â
22:06
US-China Talks Advance, Tough UK Migrant Rules, Traders Fuel Euro Rally
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US and China both reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating a trade war, marking what Chinese Vice Premier He Lifeng called “an important first step” toward resolving differences. (2) The UK will increase English-speaking requirements for migrants, and make it harder for them to stay in the country as part of efforts to rein in levels of net immigration that have touched records in recent years. (3) Donald Trump’s effort to secure peace in Ukraine is reaching a decisive moment with Ukraine’s Volodymyr Zelenskiy challenging Vladimir Putin to engage in talks this week. (4) After four days that saw the worst fighting between India and Pakistan in half a century, as well as some nuclear saber-rattling, Donald Trump on Saturday declared that both countries had reached a “FULL AND IMMEDIATE CEASEFIRE.” (5) As President Trump reconfigures global trade, the euro is riding its biggest rally in two decades and traders including Amundi and Templeton say that's just the beginning. (6) President Donald Trump’s administration is likely to accept a luxury Boeing 747-8 jumbo jet from Qatar’s royal family, in what may be the most valuable gift ever received from a foreign government, ABC News reported Sunday. Podcast conversation: The Airline Hack One Entrepreneur Uses Not to Miss a ConnectionSee omnystudio.com/listener for privacy information.
-------- Â
15:49
Bloomberg Daybreak Weekend: US CPI, Portugal Election, Japan Eco
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 U.S eco data and earnings from the retail giant, Walmart. In the UK – a look ahead to Portugal’s general election. In Asia – a look ahead to Japan industrial production, PPI, and GDP data. See omnystudio.com/listener for privacy information.
-------- Â
39:14
US Eyes China Tariff Cut, Slim UK-US Trade Deal, First American Pope
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is considering a significant tariff reduction in talks with China to ease economic pain and de-escalate tensions. The US aims to reduce tariffs below 60% as a first step, which China may be prepared to match, with progress possible as soon as next week. (2) The new trade deal between the US and UK includes a carve-out for autos, which could reduce the tariff levy from 27.5% to 10%, making a 0.1% difference to UK GDP. The deal's impact is limited because almost half of UK value-add that ends up in the US is exported via other countries, and global uncertainty remains a major drag on the UK economy. (3) US President Donald Trump’s trade policy is upending long-held alliances, threatening global growth and causing mayhem for business. For UK homeowners, though, it is working out quite well. In the last few weeks, several major high street lenders have cut mortgage deals below 4% for the first time in months. (4) Mayor of London Sadiq Khan will “actively explore” building on the city’s green belt in what would amount to the biggest change to housing policy in the UK capital since the 1960s. The mayor will announce a consultation on releasing parts of London’s green belt in a speech Friday, saying that some building in the protected zone around the city is necessary to meet the capital’s targets and to end a housing crisis. (5) Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, the first ever pope from the US and a possible bridge between the moderate and hardline sides of a divided Church. Prevost, 69, chose the name of Leo XIV for his pontificate and was greeted by thousands of cheering faithful as he stepped out onto a balcony overlooking St. Peter’s Square to be presented to the world.See omnystudio.com/listener for privacy information.
UK