Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

Trump Blasts Xi on Trade Talks; Musk Slams Tax Bill

On today's podcast:

1) More tensions between the U.S. and China as President Trump says Xi Jinping is extremely hard to make a deal with. Tensions between the two countries are increasing, with the US recently barring the shipping of critical jet engine parts to China and seeking to slap fresh curbs on Huawei Technologies Co. chips, among other measures.

2) Elon Musk blasts the president's tax cut bill, calling it an "abomination." Musk's criticism was met with responses from White House Press Secretary Karoline Leavitt, who brushed it off, and Senator Mike Lee, who appeared to endorse Musk's criticism. The tax bill is forecast to bring down federal revenue by about $4 trillion over a decade, adding about $2.5 trillion to the federal deficit over the period.

3) Wells Fargo finally gets out from under the Fed's cap on its assets. The Fed said Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The removal of the cap marks a major win for CEO Charlie Scharf and allows the bank to pursue growth again, with plans to increase returns and growth in a deliberate manner.

See omnystudio.com/listener for privacy information.

Jaksot(1593)

Brown University Shooting; Australia Eyes Tougher Gun Laws After Hanukkah Attack

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Daybreak Weekend: Jobs Preview, Paris Conference, BOJ Decision

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Global Stocks Hit All-Time Highs; Broadcom Slides as Investors Seek AI Payoff

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On today's podcast:1) Global stock gauges have record highs in their sights after a week in which affirmation that the Federal Reserve’s interest-rate easing cycle remains intact helped clear the way ...

12 Joulu 202515min

US Seizes Sanctioned Oil Tanker Off Venezuelan Coast; Traders Flock to Safety on Oracle Woes

US Seizes Sanctioned Oil Tanker Off Venezuelan Coast; Traders Flock to Safety on Oracle Woes

On today's podcast:1) US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries. A senior Trump administra...

11 Joulu 202515min

Traders Eye 2026 Fed Outlook; Trump Insists Smart People Back Tariffs

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On today's podcast:1) Stocks are marking a second straight day of restrained moves as traders await the Fed’s outlook for interest rates in 2026 after an expected cut at Wednesday’s policy announcemen...

10 Joulu 202515min

Paramount Skydance's Hostile Warner Bros. Bid, Nvidia Wins Trump's Approval to Sell Chips in China

Paramount Skydance's Hostile Warner Bros. Bid, Nvidia Wins Trump's Approval to Sell Chips in China

On today's podcast:1) The US president’s son-in-law. One of the largest alternative-asset managers. The CEO’s father who fleetingly commanded a fortune exceeding Elon Musk’s. Paramount Skydance Corp.’...

9 Joulu 202516min

Trump Warns Netflix-Warner Deal May Pose Antitrust ‘Problem’, Farm Aid Program Details

Trump Warns Netflix-Warner Deal May Pose Antitrust ‘Problem’, Farm Aid Program Details

On today's podcast:1) President Donald Trump raised potential antitrust concerns around Netflix Inc.’s planned $72 billion acquisition of Warner Bros. Discovery Inc., noting that the market share of t...

8 Joulu 202515min

Daybreak Weekend: Fed Decision, Cybersecurity Conference, China Eco

Daybreak Weekend: Fed Decision, Cybersecurity Conference, China Eco

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 next week’s Fed decision and earnings from Oracl...

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