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 Retail sales and earnings from Netflix. In the UK – a look ahead to next week’s ECB meeting. In Asia – a look ahead to earnings from TSMC. See omnystudio.com/listener for privacy information.
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38:55
US Safe Haven Fears, Trump Admits Tariff Problems & CEO Uncertainty
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Less than 24 hours after President Donald Trump backtracked on his once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar yet again as fears of a worldwide recession engulfed Wall Street.(2) The dollar extended losses after its biggest plunge in three years, with the cost of hedging against further slides climbing to the highest since the Covid pandemic shuttered cities in early 2020.(3) President Donald Trump said his tariffs may cause “transition problems” but expressed confidence in his plan, after the White House clarified US tariffs on China rose to 145%.(4) Top European Union officials are making plans to visit China for a meeting with President Xi Jinping, the South China Morning Post reported — a sign Brussels may be keen to develop better ties with Beijing amid the Trump administration’s tariff onslaught.(5) Federal Reserve Bank of Chicago President Austan Goolsbee said tariffs are a “stagflationary shock” and they pit the central bank’s goals of price stability and full employment against one another.(6) A sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot.See omnystudio.com/listener for privacy information.
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24:43
Trump’s 90-Day Pause, 125% Tariffs on China, Record Market Rally
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump announced a 90-day pause on higher tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%. (2) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the globe into disarray, he backpedaled and, in the process, pulled the financial system back from the brink. (3) China’s top leaders are poised to meet Thursday to discuss additional economic stimulus after US President Donald Trump ratcheted up tariffs, according to people familiar with the matter. (4) President Donald Trump called the bond market a thing of beauty on Wednesday. For traders of government debt, the day meant pure mayhem. (5) The murmurs spread quietly at first, then exploded into a roar as the news hit — President Donald Trump was pausing the bulk of his tariffs and putting his global trade war on hold. Mostly. (6) The UK housing market is in danger of being “blown off course” by US President Donald Trump’s trade war, estate agents warned after activity weakened sharply last month.See omnystudio.com/listener for privacy information.
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18:59
Trump Tariffs Kick In, Treasuries ‘Fire Sale', Market Turmoil Spreads
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) US President Donald Trump spent the final hours before his tariffs were set for full implementation lining up negotiations with US allies, but his insistence on pushing forward with 104% tariffs on many Chinese goods dimmed optimism that a brutal trade war would be avoided.(2) Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks, and reiterated his optimism about the growth of the world’s second-largest economy in 2025, despite the latest tariff threat from US President Donald Trump.(3) For the better part of a day, it seemed as if the panic that Donald Trump’s trade war unleashed had largely subsided as US equities built on strong rallies in Asia and Europe.(4) President Donald Trump’s steeper-than-expected tariffs have traumatized financial markets and triggered recession fears all over the world.(5) President Donald Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.(6) “We are going to be announcing very shortly a major tariff on pharmaceuticals,” President Donald Trump says at a National Republican Congressional Committee Dinner.See omnystudio.com/listener for privacy information.
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18:34
China To 'Fight To The End', Trump Market Shocks & iPhone Panic Buying
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies. (2) Japan looks set to get priority in US tariff talks, moving to the front of a long line of countries seeking to roll back President Donald Trump’s so-called reciprocal duties, which are scheduled to kick in on Wednesday. (3) President Donald Trump threatened to slap China with an additional 50% import tax, while Washington and Wall Street remained engulfed in confusion about how to gain exceptions from his sweeping global tariffs. (4) At just after 10 a.m., shouting erupted on the Siebert trading floor in downtown Manhattan. Mark Malek, the firm’s chief investment officer, rushed out of his office to hear his head trader screaming that President Donald Trump was weighing suspending the across-the-board tariff roll-out that had been sinking stock markets for days. (5) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration. (6) European Union trade ministers closed ranks and signaled readiness to deploy a full spectrum of countermeasures including potential taxes on digital companies in response to US President Donald Trump’s sweeping tariffs.See omnystudio.com/listener for privacy information.
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