Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Federal Reserve Chairman Kevin Warsh did nothing to dispel market expectations that the US central bank will hold interest rates steady when it meets at the end of the month. -Bank of England Governor Andrew Bailey said there is little evidence yet of inflation becoming embedded in UK price and wage-setting. European Central Bank Governing Council member Olli Rehn said policymakers will have additional information at the final rate decision of the year, while suggesting the current policy approach is working.

(2) UK Chancellor of the Exchequer John Healey is set to raise taxes on banks to fund cost-of-living support for voters and stabilize the public finances, as he looks for sources of revenue that won’t violate Labour Party campaign pledges.

(3) The European Union is preparing to create new trade powers that could completely shut off access to its single market as part of a dramatic new push to cut the trade deficit with China.
(4) President Donald Trump didn’t order any limitations on Ukraine’s access to SpaceX’s Starshield satellite technology, according to a senior US official.

(5) Three children, ages 5, 8 and 11, and one teacher were killed by a shooter Thursday at an elementary school in Bend, Oregon, according to Police Chief Mike Krantz.

(6) The EU will require luxury companies to report how many unsold products they've destroyed and why, starting next March, which could lead to a backlash from customers and give competitors sensitive information.

Podcast Conversation: Tesla Showcases Long-Awaited Roadster With Aerial Tricks

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) A global equity selloff deepened as chip stocks plunged on Wall Street and in Asia, further unwinding this year’s blistering rally in the artificial intelligence trade. Treasuries gained on haven demand, while the dollar weakened.

(2) Anthropic told prospective investors its third-quarter revenue hit $16.8 billion, according to people familiar with the matter, as the artificial intelligence company pushes ahead with plans to go public.

(3) Ukraine will resume strikes on Russian oil refineries in response to deadly attacks by Moscow, President Volodymyr Zelenskyy told the FT. The move comes after the Ukrainian president accused US President Donald Trump and Elon Musk of restraining Kyiv’s military access to SpaceX’s satellite technology, deepening a rift between Washington and Kyiv.

(4) After getting China to accept limits to its car exports, the European Union is already eyeing follow-up action in other industries — setting up their next trade clash.

(5) UK Chancellor John Healey said he will “stay the path” on plans to bring down borrowing over the next few years as he welcomed the International Monetary Fund’s support for the government’s fiscal plans ahead of the budget. Whether or not John Healey’s Treasury has run a numbered list, they have been both disciplined and agile in knocking down damaging ideas. This Budget may have been dubbed “beige” in this interview on Bloomberg Radio with Barclays Chief UK Economist Jack Meaning

Podcast Conversation: A Guide to Navigating UK Leasehold Laws That Still Await Reform

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) An employee at OpenAI was arrested and charged with using a hidden recording device in one of the company’s San Francisco offices, according to statements from the artificial intelligence company and the US Justice Department.

(2) Many of Britain’s large businesses are ready to replace staff with artificial intelligence over the next year, according to a prominent survey of chief financial officers.

(3) Saudi Aramco’s executive headquarters in eastern Saudi Arabia was hit during a missile attack by Yemen’s Houthi militants on Tuesday, causing a fire in a part of the complex, the kingdom’s energy ministry said.

(4) Bank of England Governor Andrew Bailey said that while the impact of the energy-cost shock from the US-Iran war on broader UK inflation has been limited so far, it’s getting harder to avoid.

(5) The head of MI5 warned Britons must be resilient in the face of “escalating” Russian hybrid warfare, as the UK’s domestic security service devotes more resources to hostile state threats than during the Cold War.

(6) Swiss lawmakers have backed a new special tax for systemically important banks, in the latest blow to the country’s largest lender UBS Group AG.

(7) The initial report from the independent regulator of UK football paints a devastating picture of a sport facing a financial crisis unless it changes course.

(8) Six months into a war that sowed upheaval in the Persian Gulf, Qatar found itself stuck. By late August, even limited shipments from the gas heavyweight had all but stopped following a projectile attack on one of its tankers outside the Strait of Hormuz. Pressure was growing, not only from energy-starved clients but also from inside an economy built on regular deliveries.

Podcast Conversation: Kalshi's Inflation Whale Beats Wall Street, Month After Month

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) A global slide in semiconductor stocks deepened, sending South Korea’s chip-heavy equity benchmark down 7% as concerns about AI overheating and Chinese competition intensified.

(2) Globally, comparisons between the subprime episode of 2008 and today’s AI investment boom are being drawn because of the yawning imbalances that underpin both.

(3) Big US bank stocks are teetering in correction territory as the group kicks off earnings Tuesday, heightening the focus on executives’ outlook for the American consumer with long-term borrowing costs the highest in decades.

(4) The International Monetary Fund said global growth should pick up next year with a boost from AI investment, but warned the world economy is nearing the limits of its resilience as the energy squeeze persists and financial risks build.

(5) French high school students are set to hit the streets on Tuesday, extending their movement into a third week with no clear response from policymakers to their demands in sight.

(6) A barrage of drone and missile attacks on Saudi Arabia has intensified pressure on Washington to step up efforts to help its close ally battle Iran-backed Houthi militants in neighboring Yemen.

(7) UK Prime Minister Andy Burnham said Iran’s Islamic Revolutionary Guard Corps was “almost certainly” responsible for an alleged terror plot at a British airbase used by the US.

(8) Prime Minister Peter Magyar galvanized Hungary with his vision of a national makeover following the Viktor Orban era. Now comes the tough task of delivering the economic centerpiece of that plan: a credible road map for euro adoption.

Podcast Conversation: Prints Democratize Art — and Can Also Be Collector's Items

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Saudi Arabia’s main airport came under renewed attack from Houthi rebels, a day after a strike on the facility killed 12 people and heaped pressure on the Middle East’s biggest economy as it prepares to host major events that seek to boost foreign investment.

(2) President Donald Trump said Sunday that Russia and Ukraine had agreed to an “energy ceasefire” effective immediately.

(3) A man who was allegedly plotting an assassination attempt on Polish Prime Minister Donald Tusk has been detained.

(4) With an agreement to curb exports of hybrid vehicles to the European Union, China is betting it can sidestep harsher restrictions from the 27-member bloc with a gesture that has little immediate prospect of reshaping the overall trade relationship.

(5) Anthropic PBC said its Claude AI model carried out additional unintended actions on the digital systems of outside organizations, including submitting a false tip in a police homicide case, prompting a warning from the Trump administration for artificial intelligence companies to secure their systems.

(6) Bond markets are starting to do some of the lifting for central banks around the world by pushing up borrowing costs themselves, potentially reducing the number of benchmark interest-rate hikes needed to get inflation under control.

(7) UK Chancellor of the Exchequer John Healey must find £35 billion ($46 billion) to meet the Labour government’s spending ambitions, the Institute for Fiscal Studies warned ahead of the budget later this month.

(8) With hundreds of thousands of young French people taking part in nationwide protests, violence flaring and bonds suffering a market rout, investors are losing faith in the European Union’s second-largest economy to get a grip. For Europe, it’s a nightmare scenario.

Podcast Conversation: Why Do So Many People Steal From Restaurants They Love?

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Bloomberg Daybreak Weekend with Host Nathan Hager take 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, along with U.S bank earnings.
• In the UK – a look ahead to European leaders meeting in Brussels.
• In Asia – a look ahead to Japan's Sports Day.

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Mobile payments firm Airtel Money is set to start trading on the London Stock Exchange later on Friday, a listing that may mark the largest initial public offering for the bourse in five years.

(2) Revolut Chief Executive Officer Nik Storonsky said he wants the digital bank to hold a primary listing in the US, if it chooses to pursue a public offering in the future.

(3) Firmus Grid abandoned its attempt at one of Australia’s biggest-ever initial public offerings, after the Nvidia -backed data center company failed to lure global investors who’ve grown increasingly skittish over frothy AI valuations.

(4) European Commission finance chief Valdis Dombrovskis urged euro-area member states to observe budgetary restraint, pushing back against a proposal from Italy and Greece to introduce additional leeway.

(5) President Donald Trump said in a social media post that the US would “not be attacking Iran” before November’s midterm elections, citing what he said were “productive discussions” with the Islamic Republic.

(6) The UK’s Labour Party won a special election for a central London parliamentary seat early Friday morning, providing a boost to Prime Minister Andy Burnham and a blow to the Greens’ leader Zack Polanski.

Podcast Conversation: Anthropic bans 'cruel' behavior against its Claude AI

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The European Union is striking a more assertive approach to China as it heads into two days of negotiations in Beijing aimed at avoiding an economically damaging trade war.

(2) Secretary of State Marco Rubio used a dramatic backdrop in Greece to remind the world of the Trump administration’s focus on the “unapologetic” pursuit of power and to issue another warning to Europe about the dangers of Western decline.

(3) China managed to get a hold of parts from an F-35 stealth fighter jet after a United Parcel Service Inc. employee missed an email warning not to route the shipment through Hong Kong, according to a person briefed on the incident.

(4) Oil gained after a report that the White House asked the Pentagon to draw up strike options against Iran that could be executed before the midterm elections, and as a hurricane forced some US output to shut.

(5) Samsung Electronics reported a nearly nine-fold rise in quarterly operating profit, though that was still shy of sky-high expectations elevated by relentless spending on AI infrastructure.

(6) Ahead of laying out a platform of tax cuts aimed at affluent Britons at her party’s annual convention, opposition leader Kemi Badenoch told journalists: “We are going back to the authentic Conservative Party that people knew and loved.”

(7) President Donald Trump is seeking approval from local officials in Florida to designate his West Palm Beach golf course into a permanently-designated presidential retreat that would host summits, world leaders and current and former occupants of the White House.

(8) Sandra Ortega, Spain’s richest woman is so intensely private and lives such an ordinary life that investors are wondering what role she might play in the business her parents started — now the world’s biggest fashion retailer.

Podcast Conversation: Hedgehog, Puffin Win Contest to Replace Historical Figures on UK Cash

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