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 preview of preview PCE, and personal spending data, and Nvidia earnings.
• In the UK – a preview of the next G20 summit.
• In Asia – a look at the evolving relationship between Washington and Beijing.

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On today's podcast:

(1) The US signaled that sanctions relief for Russia could be on the table in talks over the war in Ukraine as President Donald Trump rushes toward a deal to end the three-year conflict.

(2) Treasury Secretary Scott Bessent said that any move to boost the share of longer-term Treasuries in government debt issuance is some ways off, given current hurdles that include elevated inflation and the Federal Reserve’s quantitative tightening program.

(3) Israel said a body returned as part of a ceasefire agre ement with Hamas was not that of a young mother taken hostage in October 2023, as the militant group had claimed.

(4) Federal Reserve Bank of St. Louis President Alberto Musalem said policy should remain “modestly restrictive” until it’s clear inflation is on track to the central bank’s 2% target, and that he sees increased risks that progress may stall or even reverse.

(5) Citigroup is ending workplace representation goals and removing requirements to interview job candidates from diverse backgrounds, citing pressure from the Trump administration.

(6) As a growing chorus of bankers and politicians around the world demand the roll-back of crisis-era regulations, Nick Leeson — the former rogue derivatives trader who brought down one of the UK’s most venerated financial institutions — is starting to get worried.

Watch the full Nick Leeson interview: https://www.youtube.com/watch?v=jvqVzH__p0A

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) US President Donald Trump said it would be possible to reach a fresh trade deal with China, signaling he is open to heading off a brewing trade fight between Washington and Beijing.

(2) The European Union is ready to discuss cutting tariffs on autos and other goods as it seeks to head off a trade war with the US, the bloc’s top trade official said Wednesday in Washington.

(3) Keir Starmer repeated his support for Volodymyr Zelenskiy in a call with the Ukrainian president on Wednesday, hours after US President Donald Trump branded him a “dictator.”

(4) South Africa President Cyril Ramaphosa’s priority as Group of 20 president is overhauling the global institutions he sees as skewed in favor of the West.

(5) The European Central Bank will soon have to discuss taking a break, or ending altogether, its campaign of interest-rate reductions, Executive Board member Isabel Schnabel told the Financial Times.

(6) Confidence among UK households slipped to a new low under the Labour government, as consumers brace for higher prices and businesses warn of a hiring hit from rising payroll taxes

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On today's podcast:

(1) President Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the president’s trade war.

(2) US Treasury Secretary Scott Bessent said US taxpayers don’t need to worry about the security of their private data while Elon Musk’s Department of Government Efficiency team seeks to make the federal government more efficient. The DOGE team has identified an estimated $50 billion in savings so far, Bessent said Tuesday during a Fox News interview. “So that’s a very good start.”

(3) Secretary of State Marco Rubio told European allies that the US will keep sanctions on Russia in place at least until a deal to end the Ukraine conflict is reached, even as his boss, President Donald Trump, said he’ll probably meet Vladimir Putin to discuss a settlement before the end of February.

(4) Top officials from the US and Russia met for a first round of talks over the war in Ukraine and raised the possibility of broader cooperation, signaling President Donald Trump desire to reboot a battered relationship.

(5) HSBC will incur $1.8 billion in costs over the next two years as it embarks on a global restructuring program that has seen the lender shutter some of its businesses and slash management ranks.
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On today's podcast:

(1) Emmanuel Macron held talks separately with Donald Trump and Volodymyr Zelenskiy on aligning with the US after the French president spearheaded an effort to bring Europe to the table for discussions on ending Russia’s war on Ukraine.

(2) Discussions are gathering pace in the European Union on how to increase defense spending, with joint financing becoming a realistic option for a growing list of leaders, according to people familiar with the matter.

(3) Trade uncertainty over US President Donald Trump’s plans to hit the European Union with tariffs is already affecting the bloc by putting a lid on investment, according to EU Economy Commissioner Valdis Dombrovskis.

(4) Some UK government departments are bracing for budget cuts of as much as 11% as Prime Minister Keir Starmer comes under mounting pressure to plough more money into defense.

(5) Fifteen people were injured, three critically, after a Delta Air Lines Inc. plane flipped and came to rest upside down after landing in windy and freezing conditions in Toronto on Monday.

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On today's podcast:

(1) Prime Minister Keir Starmer pledged to send British peacekeeping troops to Ukraine if needed as he sought to show that European nations are serious about their own defense.

(2) President Donald Trump said Ukrainian President Volodymyr Zelenskiy will be involved in peace talks with Russia, a day after top US advisers suggested the negotiations might go on without him.

(3) The US move to pull back from providing European security guarantees comes as Donald Trump said he's open to allowing Europe to buy US-made weapons to give to Ukraine. European officials are working on a major new package to increase defence spending and support Ukraine, but the plans won't be announced until after the German election this coming weekend.

(4) Germany’s plodding election campaign flared into life Sunday when the four main candidates clashed on live television, exchanging barbs a week before the ballot on topics ranging from irregular migration to the war on Ukraine and the country’s economic woes.

(5) A potential encounter this week between President Xi Jinping and e-commerce icon Jack Ma, coming after a blistering run by tech shares, could be the next catalyst to extend the rally in China’s stocks.

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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 at U.S housing data and earnings from the EV maker Rivian.
• In the UK – a look at upcoming German elections.
• In Asia – a look ahead to earnings from Alibaba and economic data in South Korea.

See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners, raising the prospect of a wider campaign against a global system he complains is tilted against the US.

(2) President Volodymyr Zelenskiy said that Russia’s Vladimir Putin simply can’t be trusted, which is why Ukraine needs security guarantees, particularly from the US.

(3) HSBC is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges Elhedery continues his overhaul of Europe’s biggest lender, according to people familiar with the matter.

(4) Jamie Dimon said JPMorgan Chase & Co. will scale back spending on some diversity initiatives that he sees as a waste of money, while he also reiterated the bank’s commitment to working with Black, Hispanic and LGBTQ communities.

(5) Euronext NV Chief Executive Officer Stephane Boujnah said US President Donald Trump’s return to the White House could present a boon for the pan-European bourse and regional companies, as Europe is “now perceived as a great investment opportunity.”

(6) UK Prime Minister Keir Starmer met Chinese Foreign Minister Wang Yi in London on Thursday as the two nations pursued a thaw in ties even as Europe reeled from Donald Trump’s intervention on Russia’s war in Ukraine.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) President Donald Trump agreed in a phone call with Russian President Vladimir Putin to start negotiating an end to the war in Ukraine, sweeping aside three years of US policy and blindsiding European allies who feared the more conciliatory American stance amounted to a giveaway to the Russian leader.

(2) Federal Reserve Chair Jerome Powell said the latest consumer price data show that while the central bank has made substantial progress toward taming inflation, there is still more work to do.

(3) European Union trade chief Maros Sefcovic spoke with three top members of US President Donald Trump’s incoming administration on how to find a solution to the brewing transatlantic trade dispute.

(4)French Prime Minister Francois Bayrou survived another no-confidence vote Wednesday, clearing a key political hurdle toward implementing a delayed 2025 budget.

(5) Prime Minister Keir Starmer has lost the support of wealthy voters who helped his Labour Party secure a historic majority in last year’s UK general election, according to a new survey that lays bare the seven month-old government’s waning popularity.

(6) London-based Qube Research & Technologies has grown into a $23 billion trading powerhouse in just seven years, with a distinct approach that shuns star culture and emphasizes teamwork, and has achieved returns that make those of established hedge funds look mediocre.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Rachel Reeves faces a new risk of having to make spending cuts after the UK government’s fiscal watchdog downgraded its growth forecast, leaving Britain’s finance minister scrambling to meet her budgetary rules when a key report is published next month.

(2) UK taxpayers will end up paying £150 billion ($186 billion) to cover the total losses incurred by the Bank of England on its quantitative easing program, according to new estimates.

(3) The rise of multi-manager hedge funds poses a threat to financial stability, according to Bank of England Governor Andrew Bailey.

(4) Citadel founder Ken Griffin said he’s grateful that Elon Musk is taking time away from his companies to slash government spending but offered blunt criticisms of President Donald Trump’s rhetoric on tariffs.

(5) Hamburg, Germany's largest seaport, is a hub of activity, handling two-thirds of the country's goods, but is vulnerable to the global trade war instigated by US President Donald Trump.

(6) Federal Reserve Chair Jerome Powell said the central bank doesn’t need to rush to adjust interest rates, again signaling that officials will be patient before lowering borrowing costs further.

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