Trump Moves to Preserve Xi Truce While Reassuring Ally Japan, Moscow and Kyiv Trade Fire
On today's podcast:1) US 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. Trump’s hour-long conversation with President Xi Jinping on Monday marked their first contact since Japan’s new prime minister enraged Beijing by suggesting her nation’s troops could be drawn into a Taiwan crisis. Xi told his US counterpart Taiwan’s return to China was an “integral part of the postwar international order,” in a call the Chinese Foreign Ministry later said was “initiated by the US.”2) A US official is in Abu Dhabi for meetings with a Russian delegation as President Donald Trump cited progress on his peace proposal and Moscow and Ukraine carried out airstrikes overnight.3) Nvidia shares fell on a report that Meta 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. Meta is in discussions to use the Google chips — known as tensor processing units, or TPUs — in data centers in 2027, The Information reported, citing an unidentified person familiar with the talks. Meta also may rent chips from Google’s cloud division next year, the news outlet said.See omnystudio.com/listener for privacy information.
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Latest on Talks to End War in Ukraine; Stocks Rise to Start Week
On today's podcast:1) Ukrainian and US negotiators prepared an “updated and refined framework document on peace,” according to a top aide to President Volodymyr Zelenskiy, as Kyiv sought more favorable terms from a proposal backed by Donald Trump. 2) Global stocks advanced after a late Wall Street comeback on Friday as investors prepare for a week of key economic data amid rising expectations for a December US interest-rate cut.3) Treasury Secretary Scott Bessent said the Trump administration is working on bringing down US health-care costs and an announcement to address the issue is planned for this week.See omnystudio.com/listener for privacy information.
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The CEO Radar: AI Is Rising on CEO Agendas (Sponsored Content)
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.See omnystudio.com/listener for privacy information.
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Daybreak Weekend: Retail Preview, UK Budget, China PMI
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. See omnystudio.com/listener for privacy information.
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Markets Poised for Seven-Month Low; Trump & Mamdani to Meet Friday
On today's podcast:1) Global stocks are poised for their worst week in seven months as concerns over lofty valuations and whether massive investments in artificial intelligence will pay off prompt investors to retreat from riskier assets. The MSCI All Country World Index has slumped 3.1% this week, putting it on track for its sharpest weekly drop since April 4, when President Trump’s tariffs rattled markets. Bitcoin fell below $84,000, extending its drop from an all-time high less than seven weeks ago to more than 30%. European and Asian shares were also set for their biggest weekly decline since April after Wall Street’s Thursday selloff. Sentiment remained fragile for US assets, with S&P 500 futures fluctuating after the benchmark slipped to its weakest level since September.2) Philadelphia Fed President Anna Paulson said she’s approaching next month’s rate-setting meeting with caution, though she remains more concerned about weaknesses in the job market. “Each rate cut brings us closer to the level where policy flips from restraining activity a bit to the place where it is providing a boost. So, I am approaching the December FOMC cautiously,” Paulson said Thursday, referring to next month’s gathering of the Federal Open Market Committee. “Each rate cut raises the bar for the next cut.” Deep divisions have emerged among policymakers after they lowered rates at two consecutive meetings. Some remain concerned more by weakness in the labor market while others have expressed growing worry over inflation. The lack of official data during the long government shutdown has also blurred policymakers’ view of the economy.3) President Trump and New York City Mayor-elect Zohran Mamdani are set to meet at the White House on Friday, the president said in a social media post. The meeting marks the first time the two leaders will come together to discuss how they can work with each other since the election earlier this month. Mamdani was elected as mayor of New York City after campaigning on a progressive platform that includes freezing the rent on more than 1 million stabilized apartments, providing universal child care, funding free buses and operating city-owned grocery stores. Mamdani, a democratic socialist, is seeking higher taxes on corporations and the wealthy to pay for his agenda.See omnystudio.com/listener for privacy information.
Ireland