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

On today's podcast:

(1) In the 83 days since UK Chancellor of the Exchequer Rachel Reeves announced the date of her second budget, she’s told both bond-market investors and Labour Party backbenchers that it’s been drafted with them in mind. Today it will become clear whether she can please both of these very different audiences.

(2) Reform UK's leader Nigel Farage has rejected claims he made racist comments as a teenager, after an investigation rocked his attempts to paint Reform UK as a moderate party.

(3) US presidential envoy Steve Witkoff, fresh from the triumph of the Gaza peace deal, held a phone call last month with a senior Kremlin official to suggest they work together on a similar plan for Ukraine — and that Vladimir Putin should raise it with Donald Trump.

(4) White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks.

(5) Apple will retake its crown as the world’s largest smartphone maker for the first time in more than a decade, lifted by the successful debut of a new iPhone series and a rush of consumers upgrading devices, according to Counterpoint Research.

(6) During the Ukraine war, Russia has stepped up its courting of African governments with offers of military cooperation, weapons, grain, and fertilizers - but also fish.

Podcast Conversation: AI Slop Recipes Are Taking Over the Internet — And Thanksgiving Dinner

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On today's podcast:

(1) Russia and Ukraine exchanged fire early Tuesday with heavy air raids on Kyiv and assaults on southern Russian areas, just hours after President Donald Trump struck a positive tone on prospects for a ceasefire deal.

(2) The European Union’s antitrust chief ruled out easing the bloc’s tech rulebook, after US Commerce Secretary Howard Lutnick said Brussels needed to change its digital regulations in order to get a deal to lower steel and aluminum tariffs.

 
(3) President Donald Trump held back-to-back calls with the leaders of China and Japan, as escalating tensions over Taiwan threaten to derail his weeks-old trade truce with Beijing.

 
(4) Nvidia shares fell on a report that Meta Platforms is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator.

(5) Chancellor Rachel Reeves will slash the amount Britons can save in their tax-free cash ISA each year to £12,000 in a bid to get households investing more in UK stocks.

(6) Pret’s CEO is searching for the right recipe for the chain in a post-pandemic world where inflation remains high, competition is stiff and consumers are feeling the pinch.

Podcast Conversation: Is Food No Longer What Makes a Great Restaurant Great?

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

On today's podcast:

(1) President Donald Trump’s proposed Nov. 27 deadline to secure Ukraine’s support for a US-backed peace plan isn’t set in stone and could drift into the following week, US Secretary of State Marco Rubio said, suggesting that plenty of work remains.

(2) Chief executive officers are bracing for Rachel Reeves to pile further costs on their businesses in her budget — and some are warning they’ll slash investment in the UK if she does.

(3) BHP Group has walked away from a fresh takeover approach for Anglo American Plc, ending an unexpected and short-lived attempt by the world’s largest miner to thwart a planned tie-up between its smaller rival and Canada’s Teck Resources.

(4) British Prime Minister Keir Starmer unveiled a strategy to make critical minerals at home and reduce reliance on the fragile global supply chain.

 
(5) In President Donald Trump’s second term, crypto assets transformed his family’s wealth. Now the Trumps — and their followers — are getting a crash course in the wild volatility ingrained in digital currencies.

(6) Five years after being battered by Covid-19 and the rise of home working, Canary Wharf is making a comeback.

Podcast Conversation: How Breathwork Became the New Meditation

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AI is rising on the agendas of global CEOs, according to the latest edition of the CEO Radar. But a surprising number of chief executives are still struggling to embed the technology into their businesses. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Vlad Lukić, BCG Global Leader of Tech and Digital Advantage, to explore how CEOs can compare themselves to their peers when it comes to corporate integration of AI.

This episode is sponsored by BCG.

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Bloomberg Daybreak Weekend with Host Nathan Hager takes a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to earnings from Dell, Kohl’s Abercrombie & Finch, and retail ahead of the holiday season.
• In the UK – a look ahead to the UK's highly anticipated autumn budget.
• In Asia – a look ahead to China PMI data.

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

On today's podcast:

(1) Stocks are poised for their worst week in seven months as concerns over lofty valuations and the payoff of massive investments in AI prompt investors to retreat from riskier assets.

(2) Japanese Prime Minister Sanae Takaichi’s cabinet approved the largest round of extra spending since the pandemic, deploying funds to address the frustrations of voters.

(3) A 28-point peace plan floated by US and Russian envoys would force Ukraine to cede large chunks of territory taken by Russia, acceding to many of President Vladimir Putin’s wartime demands.

(4) Germany is pressing the European Union to strike a last-minute deal to let the UK access the bloc’s massive defense fund before a deadline at the end of the month.

(5) A closely-watched index of consumer confidence in the UK has fallen on every measure ahead of the Labour’s government’s budget next week, at which it is expected to raise taxes.

(6) UEFA, the European football governing body, increased the value of the broadcast rights for its top-five markets by more than 20% for the next cycle.

Podcast Conversation: The Curse of Angry Crowds Has Now Reached Every Sport

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

Content Warning: This episode contains discussion of sexual assault and suicide.

On today's podcast:
(1) Nvidia delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector.

(2) US President Donald Trump signed legislation to compel the Department of Justice to release files on the late, disgraced financier Jeffrey Epstein.

(3) China is considering new measures to turn around its struggling property market, as concerns mount that a further weakening of the sector will threaten to destabilize its financial system.

(4) Many Federal Reserve officials said it would likely be appropriate to keep interest rates steady for the remainder of 2025, according to minutes of the central bank's October 28-29 meeting.

(5) Oxford University Has Failed Women Over Harassment Concerns, Staff Say.

Podcast Conversation: The Five Things Luxury Shoppers Want Right Now

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

On today's podcast:

(1) Stocks edged lower in the runup to Nvidia Corp.’s earnings, a key test for market stability, after concerns over lofty valuations triggered a selloff that wiped out about $1.6 trillion from global equities.

(2) Nvidia, the world’s most valuable company, is set to deliver a quarterly report Wednesday that could assure Wall Street that the AI computing boom continues apace — or fuel fears that the tech industry is in a bubble.

(3) China has told Japan it will suspend imports of Japanese seafood, Kyodo News reported, in a move that signals their diplomatic spat is far from over and could further strain economic ties.

(4) The UK’s domestic security service warned British lawmakers of new Chinese-backed efforts to target them online, reigniting concerns about espionage by Beijing around Parliament.

(5) The European Union’s deep economic ties to China are constraining its ability to pressure Beijing over Russia’s war in Ukraine, the bloc’s top diplomat said.

(6) Donald Trump’s firm control of Washington showed signs of weakening Tuesday as Congress voted to compel the Justice Department to release its files on sex trafficker Jeffrey Epstein, whose earlier ties to the president have been the subject of intense scrutiny.

Podcast Conversation: In Dubai, a $1.1 Million AI Chef Is Running Its Own Restaurant

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

On today's podcast:

(1) Stocks sold off and Bitcoin hit a seven-month low as investors pulled back from riskier corners of the market before a high-stakes week featuring Nvidia Corp.’s earnings and a pivotal US jobs report.

(2) The eye-watering valuations of artificial intelligence champions such as Nvidia Corp., which enjoys a market cap of $5 trillion, prompt a question: Will AI’s growth revolution match investors’ hopes?

(3) President Donald Trump said the US would sell F-35 fighter jets to Saudi Arabia, offering Crown Prince Mohammed bin Salman a prize he’s long cherished — even though many obstacles remain before he gets the stealthy planes.

(4) The UK is drawing up countermeasures against the European Union’s proposed steel tariff increase in the event that Prime Minister Keir Starmer cannot secure a deal to blunt their impact.

(5) German Chancellor Friedrich Merz joined European politicians in saying the bloc’s banking regulations are too strict as the US gives lenders an easier ride to free up financing for the economy.

Podcast Conversation: Bezos Brings Signature Management Style to $6 Billion AI Startup

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

On today's podcast:

(1) Just a little more than a month after reaching an all-time high, Bitcoin has erased the more than 30% gain registered since the start of the year as the exuberance over the pro-crypto stance of the Trump administration fades.

(2) Keir Starmer’s government plans to make it easier to remove migrants with no rights to stay in the UK, as the prime minister seeks to gain control of the political narrative after one of the most bruising weeks of his 16 months in power.

(3) Oil traders are not counting on OPEC+ to cut production next year, despite forecasts that a global supply surplus could send prices even lower.

(4) President Donald Trump said proposed Senate legislation to sanction countries conducting business with Russia would be “okay with me,” his strongest indication yet that he would support a monthslong push to strangle Moscow’s funding.

(5) German Finance Minister Lars Klingbeil pressed for an “open, rules-based global trading system” as he departed for a high-stakes visit to Asia, as frictions over trade restrictions between the US, China and Europe ramp up.

Podcast Conversation: The Best Gifts of 2025

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