Musk's $1 Trillion Pay Deal, No AI Bailout Says Altman, Private Schools Chase Cash
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Tesla shareholders have approved a $1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader.(2) OpenAI CEO Sam Altman pushed back at the idea that the company would seek federal guarantees to reduce the risk of its AI infrastructure spending spree.(3) Hungary's Prime Minister Viktor Orban visits the White House later today, hoping his friendship with Donald Trump can spare his country from US sanctions on Russian oil.(4) The Bank of England has warned that Chancellor Rachel Reeves will deliver her budget amid weak investment, rising unemployment, and slowing growth.(5) Comcast is in talks to acquire ITV's media and entertainment unit in a deal that would dramatically shake up the UK broadcasting landscape.(6) Goldman Sachs is promoting the smallest proportion of women to managing director since Chief Executive Officer David Solomon took the top job in 2018.Podcast Conversation: Foreign-Language Oscar Contenders Find a Home at the MultiplexSee omnystudio.com/listener for privacy information.
The EU's Economy and Productivity Commissioner Valdis Dombrovskis discusses efforts to tap frozen Russian assets to support Ukraine, talks with China over rare earths and pressure over Europe's ESG rules. He spoke to Bloomberg's Stephen Carroll in Brussels.See omnystudio.com/listener for privacy information.
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BOE Set To Hold Rates, US Court Questions Tariffs, EU Rethinks ESG Rules
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) The Bank of England will likely keep interest rates unchanged today at 4% in what is expected to be a closely contested decision. (2) The UK's biggest business lobby has warned Rachel Reeves against hitting companies with a series of smaller tax rises, saying she should "prioritize long-term prosperity over short-term thinking."(3) The US Supreme Court appeared skeptical of President Donald Trump’s sweeping global tariffs, as key justices suggested he had overstepped his authority with his signature economic policy.(4) European economy commissioner Valdis Dombrovskis has signalled that the EU is willing to accommodate international concerns about its ESG rules, as the bloc fields threats from the US and Qatar.(5) Nvidia's CEO Jensen Huang has warned that China will beat the US in the artificial intelligence race in part due to lower energy costs and looser regulations, he told the Financial Times. (6) The US plans to cut domestic flight capacity by 10% at 40 major airports across the country if the government shutdown continues.Podcast Conversation: JPMorgan’s Billionaire Clients Want Sports Teams More Than Fine ArtSee omnystudio.com/listener for privacy information.
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Mamdani New NYC Mayor, $500 Billion Chip Selloff, AstraZeneca CEO’s Big Bet
Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Zohran Mamdani was elected the 111th mayor of New York in a historic victory that will put an avowed democratic socialist in charge of the city that serves as the capital of global finance.(2) The global selloff in semiconductor stocks accelerated on concern over lofty valuations for some of the artificial intelligence boom’s biggest winners.(3) UK Chancellor of the Exchequer Rachel Reeves will meet CEOs from top insurers in Downing Street on Wednesday, as she seeks to encourage more investment in the City ahead of a tricky budget later this month.(4) European Union member states clinched a preliminary deal to reduce emissions by 90% through 2040 compared with 1990 levels, a move that bolsters the bloc’s climate leadership credentials ahead of the COP30 summit.(5) WhatsApp, the popular messaging service owned by Meta Platforms Inc., introduced a standalone Apple Watch app that makes it easier for users to interact with their chats from Apple Inc.’s smartwatch without pulling out an iPhone.Podcast Conversation: I Saw a Vision of Chocolate’s Future in an Amsterdam BrownieSee omnystudio.com/listener for privacy information.
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BONUS EPISODE: Reeves Paves Way for Tax Hikes In Pre-Budget Speech
Chancellor of the Exchequer Rachel Reeves declined to reiterate Labour’s manifesto commitment against broad-based tax hikes, as she made an unusual appeal to the British public to support her upcoming budget.In a rare pre-budget speech in Downing Street carried on national broadcasters, Reeves argued she would prioritize bringing down borrowing costs and inflation, and blamed the previous Conservative administration for putting lasting pressure on the public finances.In the clearest hint yet that the Labour government will compromise on its commitment to avoid lifting the UK’s main tax levers, Reeves said the world had changed since it came to power in July 2024.In this special episode of the Bloomberg Daybreak Europe Podcast, Stephen Carroll and Caroline Hepker discuss with UK Correspondent Lizzy Burden, Bloomberg Opinion columnist Marcus Ashworth, and our Chief UK economist Dan Hanson.See omnystudio.com/listener for privacy information.
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