Republican Mitch McConnell will step down as his party’s leader in the Senate after the November election. Here is instant reaction and analysis from the Bloomberg Balance of Power podcast, hosted by Joe Mathieu and Kailey Leinz.

Republican Mitch McConnell will step down as his party’s leader in the Senate after the November election. Here is instant reaction and analysis from the Bloomberg Balance of Power podcast, hosted by Joe Mathieu and Kailey Leinz.

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

BREAKING NEWS: Mitch McConnell Stepping Down

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cca1ec91-c3ac-438b-ac87-b124012c9562/transcript

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to earnings from Nvidia and a focus on three stocks for the week ahead.
In the UK – a look ahead to earnings from Europe’s largest low-cost airlines.
In Asia – a look ahead to Japan GDP data.

 

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.
<ul>
<li>In the US &ndash; a look ahead to earnings from Nvidia and a focus on three stocks for the week ahead.</li>
<li>In the UK &ndash; a look ahead to earnings from Europe&rsquo;s largest low-cost airlines.</li>
<li>In Asia &ndash; a look ahead to Japan GDP data.</li>
</ul>
&nbsp;

Daybreak Weekend: Nvidia Earnings, Europe Airlines, Japan GDP

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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US and China share common goals for ending the Iran war, including that the Islamic Republic shouldn’t possess a nuclear weapon and that the Strait of Hormuz should reopen. The US administration wants China’s help pressuring Tehran into negotiations to end the conflict, but Beijing has remained cautious, urging further diplomacy and saying disputes over Tehran’s nuclear program should be resolved through dialog. Xi Jinping hailed the results of his meetings with US President Donald Trump and touted an agreement on a new relationship for their countries. The two countries reached an "important consensus" on maintaining stable economic and trade relations while expanding cooperation in various fields.
2) Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The move by Miran was expected given his seat on the Fed’s Board of Governors will be taken by Warsh. The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell’s term ends on Friday.
3) Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. OpenAI lawyers are working on a range of options, including sending Apple a notice alleging breach of contract, as the company feels Apple's use of OpenAI technology remains limited and features can be hard to find.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Trump said the US and China share common goals for ending the Iran war, including that the Islamic Republic shouldn&rsquo;t possess a nuclear weapon and that the Strait of Hormuz should reopen. The US administration wants China&rsquo;s help pressuring Tehran into negotiations to end the conflict, but Beijing has remained cautious, urging further diplomacy and saying disputes over Tehran&rsquo;s nuclear program should be resolved through dialog. Xi Jinping hailed the results of his meetings with US President Donald Trump and touted an agreement on a new relationship for their countries. The two countries reached an "important consensus" on maintaining stable economic and trade relations while expanding cooperation in various fields. 2) Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The move by Miran was expected given his seat on the Fed&rsquo;s Board of Governors will be taken by Warsh. The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell&rsquo;s term ends on Friday. 3) Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. OpenAI lawyers are working on a range of options, including sending Apple a notice alleging breach of contract, as the company feels Apple's use of OpenAI technology remains limited and features can be hard to find.

Trump-Xi Summit Wraps in Beijing; Jay Powell's Final Day as Fed Chair

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b48c6a30-f882-4080-8825-b44b00a27fd4/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Chinese President Xi Jinping warned President Trump of a potential conflict if the Taiwan issue is mismanaged, saying it is the most important issue in China-US relations. Xi said that if the Taiwan issue is mishandled, the two nations will experience collision or even clashes, pushing the entire China-US relationship into a highly dangerous situation. The US and China discussed various issues, including expanding market access for US businesses, purchasing US energy and agriculture, and addressing the flow of fentanyl precursors, but the Taiwan issue remains a point of tension.
2) The Senate confirmed Kevin Warsh as chair of the Federal Reserve with a 54-45 vote, the slimmest confirmation margin ever for a head of the central bank. The confirmation sets up a test of the Fed's political independence, with Democrats fearing Warsh will bend to President Donald Trump's demands to rapidly lower interest rates. Warsh vowed to maintain the Fed's tradition of making interest-rate decisions free from political pressure, but Trump has made it clear he expects Warsh to lower borrowing costs immediately.
3) Cisco gained in late trading after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs to focus on the fast-growing AI market. The company said revenue will be $16.7 billion to $16.9 billion in the fiscal fourth quarter, and its restructuring plan is designed to further improve its position in the AI economy. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Chinese President Xi Jinping warned President Trump of a potential conflict if the Taiwan issue is mismanaged, saying it is the most important issue in China-US relations. Xi said that if the Taiwan issue is mishandled, the two nations will experience collision or even clashes, pushing the entire China-US relationship into a highly dangerous situation. The US and China discussed various issues, including expanding market access for US businesses, purchasing US energy and agriculture, and addressing the flow of fentanyl precursors, but the Taiwan issue remains a point of tension. 2) The Senate confirmed Kevin Warsh as chair of the Federal Reserve with a 54-45 vote, the slimmest confirmation margin ever for a head of the central bank. The confirmation sets up a test of the Fed's political independence, with Democrats fearing Warsh will bend to President Donald Trump's demands to rapidly lower interest rates. Warsh vowed to maintain the Fed's tradition of making interest-rate decisions free from political pressure, but Trump has made it clear he expects Warsh to lower borrowing costs immediately. 3) Cisco gained in late trading after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs to focus on the fast-growing AI market. The company said revenue will be $16.7 billion to $16.9 billion in the fiscal fourth quarter, and its restructuring plan is designed to further improve its position in the AI economy. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees.

Xi Warns Trump of Potential Conflict over Taiwan; Senate Confirms Kevin Warsh

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a7171cf7-9e19-4427-9294-b44a009eb2ec/transcript

BREAKING NEWS: Mitch McConnell Stepping Down

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