There's reporting the US just sent B1 bombers near Venezuela to ramp up some military pressure there. Is that accurate. And can you tell us more about that.>> No, it's not accurate. No, it's false. But we're we're not happy with Venezuela for a lot of reasons.Drugs being one of them, but also they've been sending their prisoners into our country for years under the Biden administration. Not anymore. But we have a closed border. ...

We can't control the trade policy of the United States. We recognize that that policy has fundamentally changed from the policy in the 1980s, 1990s, 2000s. Um, and it's a situation where the United States has tariffs against every one of their trading partners to different degrees.A lot of progress has been made and we stand ready uh to pick up on that progress uh and build on that progress uh when the Americans are ready to have those discussions. ...

Barclays' Middle East Strategy - Barclays is establishing its regional headquarters in the Kingdom of Saudi Arabia, aiming to secure investment banking and other licenses [1][2] - The new headquarters will be located in the King Abdullah Financial District, with headcount to increase as licenses are obtained [3] - Barclays is re-entering the Saudi market after a decade, differentiating itself by focusing on connecting Saudi Arabia with the rest of the world and facilitating foreign investment and liquidity, rather than competing in retail banking [4][5] - The Middle East is a very important part of Barclays' plan to boost IPOs, equity-linked business, and M&A [7] - Investment flows are increasingly two-way in the region, with money coming back into the Middle East, presenting an opportunity for Barclays [8] - Barclays sees significant growth in the wealth business in the Middle East, particularly in Dubai, and aims to help people save and grow wealth for future generations [11][12] - Barclays is expanding prime brokerage services to cater to asset managers and hedge funds moving to Dubai and Abu Dhabi [13][14] Economic Outlook and Risk Management - Barclays observes continued consumer strength in both the UK and the US, driven by improved balance sheets and conservative saving habits [18] - The bank is increasing vigilance in lending practices due to the end of a 15-year credit cycle and unexpected credit losses, emphasizing the importance of learning from instances of fraud [22][21] - Stable interest rates and relatively low credit spreads are seen as positive signals for deal-making, with AI and technological changes spurring M&A activity [26][27] AI Integration - Barclays is fundamentally altering its business through AI, focusing on making it available to staff and changing business processes [28] - The bank emphasizes a selective, patient, and realistic approach to AI implementation, aiming to empower employees and improve productivity rather than viewing it as a zero-sum game [29][30][32][33]

Treasury secretary, Scott Bessent confirming five finalists to succeed Fed Chair Jerome Powell. Bloomberg's Jill Disis joins us now. So it is five names that have been making the rounds for some time.I guess Treasury Secretary Scott Bessent took his own name out of the running and he says we'll know by the end of the year. Yeah, Vonnie, I think that timing on this idea of a decision expected by the end of the year, that's really kind of the operative news here. I mean, a lot of the names that we heard Besse ...

HSBC, one of your heavy volume stock movers this morning due to set aside $1.1% billion to cover litigation by investors who lost money in Bernie Madoff's fraud in a case which dates all the way back to 2009. Talk about a throwback. Shares down about 1%.We'll call it all over the stories. Bloomberg, Tom Metcalf, who leads our media, finance and investing coverage. Can you just walk us through the details of this.We haven't heard Bernie Madoff's name in a while. Yeah, exactly. So, you know, sort of throwback ...

Novartis has agreed to buy Avidity Biosciences in a $12 billion biotech deal, the biggest acquisition for the Swiss drug maker in more than a decade. Joining us now is Bloomberg Intelligence is senior pharmaceutical analyst Sam Zell. Sam, thanks for joining us on the show.What does this deal tell us about potential M&A activity across the pharma space. Well, good morning to you. So this is by my count, we keep a tally of this.Of course, Bloomberg. This will be the 21st deal for 2025, where large pharma comp ...

Market & Trade Dynamics - The market has not fully priced in the potential positive outcomes from the Trump-XI meeting, suggesting further market volatility is expected [1] - Escalating trade tensions, such as 100% tariff rates, negatively impact US, China, and global growth, leading to market sell-offs, while de-escalation triggers rallies [2] - The US-China trade relationship is unique due to mutual reliance: the US on China for rare earths, and China on the US for tech, incentivizing a deal [3] - Trade negotiations between the US and Canada are strained, potentially leading to further interest rate cuts by the Bank of Canada and weighing on the Canadian dollar (CAD) [12] Inflation & Monetary Policy - The market is currently less concerned about inflation and the pass-through of tariff costs to consumers [4] - In the US, the impact of tariffs on inflation is delayed rather than eliminated due to front-loading and varying inventory cycles, potentially keeping inflation above the Federal Reserve's (Fed) target for an extended period [5][6] - Europe is experiencing disinflationary pressures due to demand shocks and the absence of retaliatory tariffs [6][7] - The European Central Bank (ECB) is likely to maintain a dovish stance into 2026 [7] Central Bank Actions - The market anticipates a rate cut from the Fed at its upcoming meeting, influenced by recent softer inflation data [8] - The Bank of Japan (BOJ) might signal a rate hike in December, although this is not currently priced into the market [10] - The Bank of Canada (BOC) is likely to cut rates despite sticky inflation, driven by concerns over trade-related downside risks to growth; a cut would bring them to the bottom of their neutral range [11][12]

We did see Donald Trump deplane. He is, of course, officially arrived in Tokyo. Do for, I believe, the second stop on his Asian tour.He'll be going to South Korea later this week to have that high stakes conversation with his Chinese counterpart, President Xi Jinping. Already, of course, a very quick turnaround when it comes to the conversation in Malaysia. There he is arriving in Tokyo.He's due to meet with the Japanese emperor today and then he goes on to have a working lunch and meet with Taki ichi. That ...

It's a landslide victory compared to expectations we've been hearing from US President Donald Trump on Air Force One, telling reporters that Milley had a lot of support from him. So how much was it down to Trump's support. Well, certainly what we see from the result of this vote is that Argentine voters are certainly in favor of the economic overhauls that Javier Melaye has been proposing since he entered Argentina's political scene.What we also saw over the past few weeks was that there was volatility in t ...

You have top trade negotiators for the U.S. and China say that they have come to terms on a range of fairly contentious points. Those soybeans were always going to be on the market. It's a global market.The three leading suppliers are Brazil, Argentina and the U.S. And I believe that we have brought the market back into equilibrium. And I believe that the Chinese will be making substantial purchases again. Anticipating that we will get some kind of a deferral on the rare earths export controls that the Chin ...