UK Chancellor John Healey Defends Budget Plans
Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, 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, the tech rally stalled as Google parent Alphabet slumped 10% post-market on concerns its massive AI spending isn’t paying off. Samsung also fell after it withheld its shareholder payout plans until January 2027.
The US Federal Reserve held interest rates as policymakers look for more data on the inflation outlook. The ECB set to follow suit as it grapples with soaring energy prices and a selloff in French bonds.
And the UK Chancellor has told Bloomberg his Budget will tackle the deficit. John Healey unveiled a modest maiden budget, with measures to bring in £6.6 billion in additional revenue by fiscal year 2030-31.
Today’s guest: Rufaro Chiriseri, RBC Wealth Management, Head of Fixed Income.
Chapters:
00:00:00 – Daybreak Europe
00:01:04 – Tech Rally Stalls as Alphabet, Samsung Disaapoint
00:06:03 – Samsung Hikes AI Spending, Dashes Shareholder Payout Hopes
00:09:39 – ECB Expected to Hold Amid Market Turbulence
00:13:19 – Fed Holds Fire as Warsh Telegraphs More Hikes Without Saying It
00:18:29 – Spain’s Deadliest Rail Crash Since 2013
00:21:12 – Netanyahu Bloc Set to Win Most Seats in Israeli Elections
00:25:07 – Healey Defends Scale of UK Budget and Warns Hard Decisions Ahead
00:34:35 – Rufaro Chiriseri, RBC Wealth Management, Head of Fixed Income
00:42:44 – Monte Paschi Investor Meeting Takes Place Today
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