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On today's podcast:
1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and increasing tensions with California officials.
2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.
3) Mark Zuckerberg, frustrated with Meta Platforms Inc.’s shortfalls in AI, is assembling a team of experts to achieve artificial general intelligence, recruiting from a brain trust of AI researchers and engineers who’ve met with him in recent weeks at his homes in Lake Tahoe and Palo Alto.
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On today's podcast:
1) Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order.
2) The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week.
3) Apple Inc. shares have been heavily tethered to US trade policies this year, but its annual developer’s conference could refocus Wall Street’s attention on a potentially bigger problem: its struggles with artificial intelligence.
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Damian Sanchez, (Damian J to music fans) is a Miami-based jazz musician. A car accident landed him in the hospital with multiple fractures to his leg. Once there, he faced the difficult decision of whether or not to take the pain medication that was offered to him. With patients like Damian in mind, Dr. Paul Negulescu and the research team at Vertex are thinking differently about pain – they’re investigating potential non-opioid based treatment options that aim to target pain differently.
This episode of Targeting the Toughest Diseases is sponsored by Vertex Pharmaceuticals.
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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
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On today's podcast:
1) Elon Musk and President Donald Trump engage in a public dispute the traded personal barbs and weighed down Tesla stock and Musk's personal wealth. The dispute began over differences on the GOP tax legislation, with Musk opposing the bill and Trump accusing Musk of being motivated by self-interest. After Tesla shares tanked 14% and Musk's personal wealth dropped by $34 billion, Musk signaled a willingness to cool tensions with Trump, responding to a user's advice to "cool off and take a step back for a couple days" with "Good advice."
2) Tensions appear to be easing between the US and China. President Trump and Chinese President Xi Jinping agreed to further trade talks to resolve disputes over tariffs and rare earth minerals. The two leaders had a 90-minute call, during which Trump acknowledged that the trade relationship with China had gotten "a little off track" but said they are now "in very good shape" with a trade deal.
3) Investors brace for a critical May Jobs Report. Traders are awaiting the key monthly nonfarm payrolls report, which may reinforce expectations that the Federal Reserve will cut interest rates at least twice this year.
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On today's podcast:
1) President Trump signs a travel ban for 12 countries. The president is reinstating one of the most controversial measures from his first term after an attack in Colorado that targeted an event supporting Israeli hostages. The travel ban announced Wednesday covers Afghanistan, Myanmar, Chad, Republic of the Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan and Yemen. The measure also partially limits entry of people from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.
2) Elon Musk goes after the president's tax bill after losing out on electric vehicle credits. Musk has taken to social media to urge Americans to contact their lawmakers to "KILL" the legislation, citing its $2.4 trillion price tag and warning that "Bankrupting America is NOT ok!"
3) Democratic candidates for New York City mayor square off in their first debate. Former NY Governor Andrew Cuomo staved off attacks from progressive rivals Zohran Mamdani, Adrienne Adams, and others as the NYC mayoral race heats up.
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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.
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On today's podcast:
1) President Donald Trump worked the phones Monday and took to social media to try to sway Republican holdouts on his multi-trillion dollar tax bill, encountering conflicting demands from GOP senators even as he urged them to move swiftly.
2) Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said.
3) Far-right lawmaker Geert Wilders pulled his Freedom Party out of the Netherlands’ ruling coalition, collapsing the government and likely triggering a snap election.
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On today's podcast:
1) Ukraine staged a series of strikes across Russia, deploying drones hidden in trucks to hit strategic airfields, damaging over 40 Russian aircraft and causing losses of at least $2 billion. Russia launched a drone and missile attack against Kyiv, killing at least 12 people, and Ukraine's Ground Forces Commander announced his resignation due to the casualties. The incidents occurred ahead of crucial peace talks in Turkey, where delegations from Moscow and Kyiv will discuss issues including a full and unconditional ceasefire, prisoner release, and the return of abducted children.
2) The FBI is investigating what they call a 'targeted terror attack' in Boulder, Colorado. Eight people were injured in an attack on a Colorado event supporting Israeli hostages in Gaza, with a suspect arrested and identified as 45-year-old Mohamed Sabry Soliman. The attacker used a makeshift flamethrower and incendiary device, yelling "Free Palestine" during the incident, which the FBI is investigating as an act of terrorism.
3) A nationalist candidate backed by President Trump wins Poland's presidential election. Karol Nawrocki won Poland's presidential election with 50.9% of the vote, defeating centrist Rafal Trzaskowski. Nawrocki's victory gives his party, the opposition Law & Justice, a powerful lever to stymie Prime Minister Donald Tusk's agenda and complicates Poland's role in the EU.
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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
See omnystudio.com/listener for privacy information.
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