Mideast AI Chips Frenzy, 5% Defense Spending, Milan’s ‘Svuota Londra’ Bet
Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration is clearing a path for two key Persian Gulf allies to pursue their artificial intelligence ambitions — and some of the biggest US tech companies are seizing on that opening with plans to spend billions of dollars in the region. (2) President Donald Trump and Saudi Crown Prince Mohammed bin Salman touted a pledge for $1 trillion in commercial deals in Riyadh on Tuesday, a staggering figure that doesn’t quite stand up to scrutiny. (3) President Donald Trump said a luxury jet being offered by the government of Qatar would be used as a temporary Air Force One, indicating an intention to accept a gift that has sparked ethical and security concerns in Washington. (4) It's only been 6 weeks since the UK's non-dom tax regime ended. It gave wealthy individuals favourable tax treatment for overseas earnings. Now Italy is proving an early winner in the race to attract wealthy investors from the UK. (5) NATO allies have started cobbling together an agreement to significantly boost defense spending in a way that may assuage US President Donald Trump’s demand to spend 5% of economic output on the military. (6) The UK and EU are in the toughest stage of talks to agree a common security pact, Defence Secretary John Healey said, as the government seeks to secure access to European spending programs for British firms.Podcast conversation:The Designer Who Taught American Women How to DressSee omnystudio.com/listener for privacy information.
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19:37
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.
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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.
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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.
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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.
Ireland