Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) With just 10 days to go until President Donald Trump’s country-specific tariffs are set to resume, the White House appears poised to fall short of the sweeping global trade reforms it promised to achieve during the three months they were on hold. (2) Canada has withdrawn its digital services tax on technology companies such as Meta Platforms Inc. and Alphabet Inc. in a move to restart trade talks with the US (3) Senate Majority Leader John Thune is rushing to meet President Donald Trump’s July 4 deadline for pushing through his massive tax and spending bill, but first he has to work through a list of approximately eight Republican senators who have expressed opposition to portions of it. (4) President Donald Trump said he has identified a buyer for the US operations of TikTok, the social media app owned by Chinese company ByteDance Ltd., without naming the winning bidder. (5) European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half, the most dramatic sign of how the region’s markets are staging a comeback after more than a decade in the doldrums. (6) Keir Starmer is working to contain the rebellion in his Labour Party ahead of a vote Tuesday on his flagship welfare policy that’s provoked widespread criticism and called his leadership into doubt. Podcast Conversation: UK’s Record-Breaking Sunshine Isn’t All Good News: Lara WilliamsSee omnystudio.com/listener for privacy information.
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19:33
Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations
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 June jobs report and commodities outlook. In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix. In Asia – a look at relations between China and Iran. See omnystudio.com/listener for privacy information.
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39:19
G-7 Deal Kills Section 899, US-China Trade Truce, Trump Fuels UK Uni Interest
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US Treasury Department announced a deal with G-7 allies that will exclude American companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill. (2) The European Union is prepared for all eventualities in its trade negotiations with the US, including for a breakdown in talks, Ursula von der Leyen said, after discussing the latest proposals from the Trump White House with the bloc’s leaders. (3) The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. (4) Keir Starmer agreed to pare back a divisive £5 billion ($6.9 billion) cut to welfare to quiet a rebellion by his own party, a decision that will likely leave both Britain’s fiscal plans and the prime minister’s own leadership in need of repair. (5) The Labour government’s payroll tax is costing the UK jobs, depressing workers’ earnings and pushing up food prices, Bank of England Governor Andrew Bailey said as he warned that the risks to inflation remain “two-sided.” Podcast Conversation: Anna Wintour Is Giving Up Her Daily, Duties at Vogue MagazineCorrection: An early version of this podcast incorrectly stated that the next Bank of England rate decision would be in July, rather than August.See omnystudio.com/listener for privacy information.
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19:29
Europe Arms As Trump Cheers, Fed Succession, The City Wants More
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) NATO leaders agreed to increase defense spending to 5% of GDP and renewed their “ironclad commitment” to mutual security in an historic move to push back against an increasingly belligerent Russia(2) President Donald Trump said the US would hold a meeting with Iran next week but cast doubt on the need for a diplomatic agreement on the country’s nuclear program, citing the damage that American bombing had done to key sites.(3) Worldline SA Chief Executive Officer Pierre-Antoine Vacheron blamed an orchestrated media campaign for the firm’s precipitous share decline in an effort to dig the company out of its current crisis.(4) President Donald Trump said he has three or four people in mind to succeed Federal Reserve Chair Jerome Powell when his term expires next year.(5) Chancellor of the Exchequer Rachel Reeves should resist the temptation to raise levies on UK companies further because of the risk of strangling economic growth, one of the country’s biggest business lobbies said.(6) The UK is seeking to increase the recognition of British professional certifications abroad, a move aimed at boosting the nation’s service-sector exports by making it easier for highly skilled employees to work for clients overseas.Podcast Conversation: Amazon Says Denis Villeneuve Will Direct Next James Bond FilmSee omnystudio.com/listener for privacy information.
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17:01
US: Strikes Didn’t Destroy Iran’s Nuclear Program, EU Tariff Threat, UK's China Imports Jump
Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) American airstrikes had only a limited impact on Iran’s nuclear program, according to early US intelligence findings, as the United Nations watchdog urged fresh inspection of the sites. (2) Donald Trump ensured that NATO’s high-stakes summit would be a nervy affair to the end as he flew in to The Hague fueling doubts about whether the US remains fully committed to defending its allies. (3) The European Union plans to impose retaliatory tariffs on US imports, including on Boeing aircraft, if President Donald Trump puts a baseline levy on the bloc’s goods as many expect. (4) Chinese companies are ramping up shipments to Britain to levels not seen in years, a possible sign that the Asian factory powerhouse is finding export markets unimpeded by high tariffs like those President Donald Trump has imposed. (5) Federal Reserve Chair Jerome Powell had plenty of opportunities Tuesday to tell lawmakers definitively the central bank will cut interest rates soon. He didn’t take any of them. (6) Former New York Governor Andrew Cuomo conceded to his upstart rival Zohran Mamdani in the Democratic primary in the race to become mayor of New York City after the 33-year-old Queens lawmaker racked up commanding leads across Brooklyn, Queens and Manhattan.Podcast Conversation: Elite Dating Services Are Thriving as Love Defies Economic WoesSee omnystudio.com/listener for privacy information.
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