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On today's podcast:

(1) As the pace of wealthy individuals leaving London quickens, the numbers are starting to stack up: Labour’s flagship “tax the rich” policy risks becoming a net drain on the UK economy.

(2) Rachel Reeves will pump billions of pounds into areas outside London as the Labour government tries to head off an electoral threat posed by Nigel Farage’s Reform UK.

(3) President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies.

(4) The US ordered some staff to depart its embassy in Baghdad and authorized families of military service members to leave the region, officials said, after Iran threatened to strike American bases if it’s attacked over its nuclear program.

(5) The Pentagon has launched a review of the Biden-era Aukus pact to develop nuclear-powered submarines with Australia and the UK, as the Trump administration looks to shift the burden for collective defense to allies and make sure the US has enough warships of its own.

(6) Northern Ireland has seen a third night of clashes between rioters and police, in violence that's been described by officials as racially motivated.

Podcast Conversation: Five French Countryside Escapes That Pair Perfectly with Paris

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

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves will defend her fiscal choices and trumpet billions of pounds of infrastructure investment in the UK spending review on Wednesday, as Keir Starmer’s government seeks to regain momentum after a faltering first year in power.

(2) The US and China agreed to a preliminary plan to ease trade tensions, which could revive the flow of sensitive goods between the world’s two largest economies. 

(3) Donald Trump can continue to enforce his global tariffs for now, a federal appeals court held in a win for the president on one of his signature economic policies. 

(4) European Central Bank Governing Council member Yannis Stournaras said the US’s unpredictable behavior on tariffs is undermining the dollar’s status as the global reserve currency and is an opportunity for the euro, according to an interview in Handelsblatt.

(5) Secretary of State Marco Rubio rebuked five allies over sanctions they imposed on two members of Israel’s cabinet as fissures between the US and its partners widen over the war in Gaza and the treatment of Palestinians.

(6) Curfew area will be about one square mile in downtown, and runs from 8pm to 6am, Los Angeles mayor Karen Bass says at a press conference.

Podcast Conversation: Sony’s Bet on Sports Pays Off With AI Line Judges at Wimbledon

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On today's podcast:

(1) UK employment plunged by the most in five years and wage growth slowed more than forecast, as the labor market deteriorated after Chancellor of the Exchequer Rachel Reeves ramped up the cost of hiring.

(2) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials.

 
(3) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.

(4) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings.

(5) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity.

Podcast Conversation: Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest Hotels

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

On today's podcast:

(1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials.

 
(2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.

(3) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings.

(4) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity.

(5) Apple introduced a number of AI-powered features during the company’s Worldwide Developers Conference on Monday, even as long-awaited enhancements to its Siri voice assistant remain far off.

 (6) Barclays is preparing to cut more than 200 jobs in its investment bank in the coming days as part of Chief Executive Officer C.S. Venkatakrishnan’s plan to boost the profitability of the division.

Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest Hotels

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

On today's podcast:

(1) Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order.

(2) The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week.

(3) Keir Starmer will make an appearance alongside Nvidia Corp co-founder Jensen Huang on Monday, as the British prime minister puts technology and artificial intelligence at the heart of his government’s plan to boost economic growth.

(4) The UK’s finance industry kept its lead over the rest of Europe in attracting foreign investment last year, although activity across the region slowed, according to professional services firm EY. 
 
(5) European Central Bank Executive Board member Isabel Schnabel sees a favorable moment now to strengthen the euro’s global role as investors turn to Europe.

Podcast Conversation: Monograms Wield Power in an Age of Resale and Superfakes: Essay

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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 ahead to U.S CPI and PPI data and Tesla’s Robotaxi launch.
• In the UK – a look ahead to London’s Tech Summit.
• In Asia – a look ahead to readings on Chinese exports, as well industrial production and retail sales.

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

On today's podcast:

(1) Differences between US President Donald Trump and Elon Musk exploded Thursday into an all-out public feud.

 
(2) Tesla’s shares sank as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people.

(3) US President Donald Trump and Chinese President Xi Jinping on Thursday agreed to further trade talks aimed at resolving disputes over tariffs and supplies of rare earth minerals at the heart of tensions between the world’s two largest economies.

 
(4) German Chancellor Friedrich Merz successfully navigated a 40-minute meeting with Donald Trump in the Oval Office without falling victim to the public humiliation the American president has doled out to other leaders — even though both Germany and Europe are two of Trump’s perpetual irritants.

 
(5) Christine Lagarde just unveiled an outlook that may be as good it gets for the euro zone.

(6) Zia Yusuf resigned as chairman of Reform UK after 11 months in the job, delivering a blow to its leader, Nigel Farage, who has promised to build and professionalize the insurgent party in a quest for power at the next general election.

Podcast Conversation: A Mega Fun Run Becomes a Finance Bro Blood Sport

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

On today's podcast:

(1) President Donald Trump signed a proclamation that bans individuals from 12 countries from entering the US, reinstating one of the most controversial measures from his first term after an attack in Colorado that targeted an event supporting Israeli hostages.

(2) Elon Musk is on a mission to block President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, according to a person familiar with the matter.

(3) Donald Trump on Wednesday broadcast Vladimir Putin’s warning that he’ll retaliate against Ukraine for its recent stunning drone strikes deep inside Russian territory, the clearest signal yet that the US president’s peace efforts have stalled.

(4) Some of the world’s biggest banks are pushing UK regulators to accelerate plans to ease rules around deferred bonuses so the new regime can be applied to payouts for 2025, according to people familiar with the matter.

(5) The Trump administration’s attack on US diversity, equity and inclusion policies is reverberating across the Atlantic, with corporations abandoning sponsorships of Britain’s Pride festivals, threatening key funding for events this summer.

Podcast Conversation: Deliveroo Launches Drone Food Delivery Service in Dublin

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

On today's podcast:

(1) President Donald Trump has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers.

(2) Chinese Foreign Minister Wang Yi used his first meeting with new US Ambassador David Perdue to complain about recent actions by Washington, underscoring a downturn in relations between the world’s two biggest economies.

 
(3) Donald Trump ally Elon Musk lambasted the president’s signature tax bill as a budget-busting “abomination” as Republican fiscal hawks stepped up criticism of the massive fiscal package.

(4) Volkswagen AG said about 20,000 employees will voluntarily leave the company by the end of the decade as the carmaker restructures its German operations to cope with uneven demand for its vehicles.

(5) Britain’s ammunition production begins life in the ancestral town of George Washington. Hundreds of technicians and robots work around the clock to manufacture the empty shells that are then filled with explosives and fired from a range of artillery systems.

Podcast Conversation: Taylor Swift’s Catalog Win Is a Masterclass in Business

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As fighting in Ukraine drags on and Donald Trump demands that Europe take greater responsibility for its own security, the UK is confronting the hard reality of rebuilding its military strength. The challenge lies in overcoming years of underinvestment, failed contracts, and recruitment struggles. While European allies are pledging billions of euros to boost domestic defense manufacturing, the UK is scrambling to catch up in an industry it once dominated. In this special podcast, Daybreak Europe host Caroline Hepker speaks with CEOs and industry experts, along with our Political Correspondent Ellen Milligan and Bloomberg’s Chief UK Economist Dan Hanson, to assess whether Britain has what it takes to realize its ambition of once again becoming a major military power.

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