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Myanmar was struck by its biggest earthquake in a century, shaking buildings and triggering evacuations in neighboring Vietnam and Thailand, with at least one tower collapsing in Bangkok. The quake on Friday measured 7.7 in magnitude, according to the USGS, which said it was 16 kilometers northwest of Sagaing, Myanmar and at a depth of 10 kilometers. It struck at about 1:21 p.m. in Bangkok and was the strongest worldwide since 2023, according to the US Geological Survey data compiled by Bloomberg.
There was a second temblor of 6.4 magnitude around the same area, the USGS said. In geopolitics, the US is pushing to control all major future infrastructure and mineral investments in Ukraine, potentially gaining a veto over any role for Kyiv’s other allies and undermining its bid for European Union membership.
President Donald Trump’s administration is demanding the “right of first offer” on investments in all infrastructure and natural resources projects under a revised partnership deal with Ukraine, according to a draft of the document obtained by Bloomberg News.
Today's guests: Nannette Hechler-Fayd'herbe, Lombard Odier, EMEA CIO; Sigrid de Vries, ACEA, Director General; Giulia Pellegrini, Allianz Global Investors
Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney
March 24th, 2025
Featuring:
1) Joe Lavorgna, Chief Economist at SMBC Nikko Securities and former Trump economic advisor, on why he believes Trump's tariff initiatives will ultimately prove bullish for the US economy, won't be inflationary, and could usher in a new economic "Golden Age" in the US.
2) Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, joins for an extended discussion on fears of a US recession and the outlook for equities.
3) Henrietta Treyz, co-founder at Veda Partners, on the latest DC headlines and Congress' role in US trade policy amid looming tariffs and updates on negotiations over the war in Ukraine.
4) Stephen Trent, Analyst at Citi, discusses the outlook for individual US airlines in 2025 after recent poor guidance. American Airlines and Delta Air Lines have slashed their financial forecasts, citing a rapid reversal of demand trends and a broad weakness in consumer spending.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including young investors' favorite retirement vehicle and the advantage Duke has in the NCAA tournament.
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins.
On today's show, stock futures climb on hopes that President Donald Trump's next wave of tariffs due on April 2 may be more targeted than first feared. The US and Russia are due to hold talks in Saudi Arabia on ending the Ukraine war, after the US hailed separate discussions with Ukraine as 'productive and focused'.
Today's Guests: Luis Costa, Citi GLobal Head of Emerging Markets Strategy; Pär-Jörgen Pärson, Partner at Northzone
France has warned Donald Trump against trying to invade Greenland by military force or economic coercion.
French foreign minister Jean-Noel Barrot said the European Union would not “let other nations of the world attack its sovereign borders, whoever they are”. pic.twitter.com/3Z5mqrbQgX
April 2 is being referred to as "Liberation Day" by President Trump, the day when his administration's reciprocal tariffs are set to go into effect.
Yahoo Finance senior columnist Rick Newman comes on Catalysts to speak on the next set of risks that could threaten the US economy under Trump, especially amid the stock market's current rout (^DJI, ^IXIC, ^GSPC) and the quickening pace of layoffs.
To watch more expert insights and analysis on the latest market action,
Following environmental catastrophe, corporate missteps and plain bad luck, BP lags its peers. Now it’s scrambling to re-embrace fossil fuels while an activist circles. Is it too little, too late?
What Went Wrong for BP? Why the Oil Major Hit Reset: https://www.bloomberg.com/news/articl...
Financial Insyghts President Peter Atwater talks how investors should approach the volatility of policy changes in the Trump administration.
President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push.
“The Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition (ease!) their way into the economy,” Trump said in a post on Truth Social. “Do the right thing. April 2nd is Liberation Day in America!!!”
Trump’s post Wednesday evening comes as his administration prepares to unveil a fresh wave of tariffs, which Federal Reserve Chair Jerome Powell signaled was hanging over forecasts.
Fed officials held their benchmark interest rate steady on Wednesday for a second straight meeting, as expected by economists. Powell downplayed simmering concerns about a slowdown but acknowledged tariff uncertainty was a factor and already contributing to goods inflation, but may prove transitory.
Trump’s administration is preparing to announce a fresh wave of tariffs on April 2, though the exact scope isn’t clear. Trump has promised so-called “reciprocal” tariffs on at least some nations, though his administration has not specified which ones or at what rate, and his key economic advisers have competing views on the best way to approach tariff policy.
The public push back on interest rates comes as the Trump White House tries to make its case for stiffer tariffs amid a mixed economic picture in the US. Inflation has not abated as much as American consumers would like. High interest rates are squeezing the housing market, and economists now see economic growth slowing in the upcoming months.
Trump has sent repeated mixed messages on the Fed — at times calling for cuts and otherwise declining to intervene. Similarly, during the campaign, he vacillated on how independent he said the Fed should be from the White House.
US equity futures fall after two days of gains amid growth concerns. President Trump and President Putin are set to discuss a peace deal in Ukraine, with Trump saying that Ukrainian land and assets may comprise part of the terms.
Germany begins debating a landmark spending package for defense and infrastructure. Alphabet is said to be in talks again to buy cloud-security firm Wiz. Isabelle Mateos Y Lago of BNP Paribas says her team will revise down their forecast for US growth this year.
Raj Agrawal of KKR says the optimism in the air in Germany is palpable.“Bloomberg Brief” delivers the market news, data and analysis you need to set your agenda.
Fears of an economic downturn spooked investors and sparked a $US4 trillion sell-off on Wall Street, as on-again-off-again tariff threats from the White House against allies like Canada and Mexico ramped up uncertainty.
The Australian share market followed suit, tumbling to a 7-month-low, narrowly avoiding a technical correction, which is a 10% fall from the most recent peak.
Leading independent economist Saul Eslake told Close of Business the moves from the US administration are creating volatility and uncertainty not just for investors, but US households who will ultimately carry the cost of tariffs. He spoke to business presenter Alicia Barry.
Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter.
The show features prominent leaders spanning the worlds of business, finance, politics and culture.
Coinbase CEO Brian Armstrong joined Yahoo Finance Senior Reporter Jennifer Schonberger after attending the first-ever White House crypto summit.
He praised the administration's efforts saying, "President Trump really breathed life back into this industry over the last few years. We really felt like we were being unlawfully attacked by the prior administration...
The president has taken a leadership role here and decided to bring it back to the US, and it's already having positive results."
Apollo President Jim Zelter and Schonfeld CEO Ryan Tolkin talk to Sonali Basak about the impact of tariffs on investors and markets at Bloomberg Invest in New York.
NYSE Group President Lynn Martin says now is not the time to panic about markets. “There is volatility in markets, but if you look at Dow and the S&P 500 Indexes, they are still above pre-election levels," she said on "Bloomberg Open Interest."
She also speaks about the market for IPOs and the impact of new US tariffs on Mexico, Canada and China.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
Insight with Haslinda Amin, a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter.
The show features prominent leaders spanning the worlds of business, finance, politics and culture.
Equity futures rise after a tumultuous week for risk amid tariff confusion and as Nvidia began to lose its shine for investors. China vows retaliation against President Trump's levies after he announced an additional 10% tariff on the nation.
Cayla Seder of State Street expects the turbulence to remain high, but thinks the foundations underlying the market are still strong.
Europe provides cheap options due to being less well served from a capital market standpoint, says Park Square's Robin Doumar. “Bloomberg Brief” delivers the market news, data and analysis you need to set your agenda.
Elon Musk’s personal fortune has also taken a huge hit.
Transcript:
Conway Gittens: It’s been a rough start of the year for Tesla shareholders. The stock is down roughly 25 percent of year-to-date and it’s only the end of February. The selling has been so intense that the company’s stock has been kicked out of the rarified club of companies with $1 trillion or more in stock market value.
As Tesla’s biggest individual shareholder, Elon Musk’s worth has taken a hit as well. He’s down $75 billion since the start of the year, according to the Bloomberg Billionaires Index. Tesla shares make up more than half of all his wealth. Nevertheless, Musk is still the world’s richest man.
Tesla’s latest headaches are two-fold. Chinese customers are less than enthused with a limited self-driving function upgrade that they’ve been waiting for for a long time. Tesla drivers told Reuters that Musk’s latest upgrade isn’t living up to promises in moving the ball closer towards a fully autonomous driving system. That is a competitive problem for Tesla as China’s homegrown EV makers are offering partial self-driving functionality at a fraction of the cost - if any - when compared to Tesla.
The other headache is coming from a different part of the world. All across Europe, Tesla just doesn’t have the cache it used to. Sales on the continent were down 45 percent in January - hitting a two-year low., Compare that to total industrywide EV sales, which jumped 37 percent. In Germany Tesla registrations slumped to their lowest in 3-1/2 years, while in France they hit 2-1/2 year low. In the UK. China’s BYD outsold Tesla for the first time ever.
All of these are ominous signs for a company that posted disappointing global sales in the fourth quarter despite price cuts in some markets.
Britain's Rolls-Royce lifted its mid-term targets to reflect its confidence in future profit growth after a plan to improve engines and cut costs helped its results beat expectations, pushing its shares up 15%.
Tesla is worth less than $1 trillion for the first time since November. Stock in the EV firm tumbles 8% after new figures showed its sales have slumped in Europe in January.#News#Reuters#Newsfeed#elonmusk#tesla#europesales