Business
UK Latest: Inflation Higher Than Expected in May
UK inflation remained higher than expected for a fourth month, ratcheting up pressure on the Bank of England to hike interest rates more aggressively. Lizzy Burden reports on Bloomberg Television.
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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, President Trump has pulled a major about-face when it comes to his stance on China’s tariffs and the Fed. Trump says he’s not getting rid of Jerome Powell, despite criticizing the Fed Chair in a series of public comments.
Meanwhile, Elon Musk has vowed to pull back ‘significantly’ from his work with the US government to concentrate on Tesla beginning next month. Musk says his stint leading the Department of Government Efficiency, DOGE, will be largely complete. Tesla shares rose after the announcement despite, the company’s first-quarter results being below analyst estimates.
Chapters:
00:00:00 – Daybreak Europe
00:02:14 – Trump Walks Back Powell Threats
00:04:43 – Elon Musk To Refocus On Tesla
00:06:23 – Musk Says DOGE Work ‘Mostly Done’
00:08:57 – Trump: Not Firing Powell
00:10:52 – Trump Floats Cutting China Tariffs ‘Substantially’
00:13:06 – Markets Welcome Easing Trade, Fed Tensions
00:17:34 – Shanghai Auto Show
00:21:05 – Volvo Truck Sales
00:22:03 – Macron Mulls Another Snap Election
00:23:00 – Macron Mulls Another Snap Election
00:30:37 – Barclays CEO: Dollar To Remain World’s Reserve Currency
00:39:42 – Christian Klein, SAP CEO
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When one thinks about the wealthiest Americans, ultra-rich billionaires like Elon Musk and Jeff Bezos might come to mind. But there is a class of rich private business owners hiding in plain sight.
University of Chicago Associate Professor Eric Zwick and Princeton University Professor Owen Zidar join Tracy Alloway and Joe Weisenthal on the Odd Lots podcast to discuss how income inequality started to rise in tandem with the growing number of pass-through businesses.
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Anna Edwards, Tom Mackenzie and Mark Cudmore break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.”
Chapters:
00:00:00 – MLIV
00:00:08 – I am the House: Scott Bessent on Betting Against the Japanese Yen
00:01:40 – Commodity Bull Run
00:02:53 – Brent Crude Price Nearing $100/Barrel
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Big Pharma is betting on China for its next blockbuster drugs — what that shift means for patients and the future of US biotech dominance.
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Paramount Skydance Corp. has settled lawsuits brought by 12 state attorneys general and the Writers Guild trade union, allowing the company to close its acquisition of Warner Bros. Discovery Inc. #news #business #usa
The settlement includes protections to limit the market power and ensure the editorial independence of the media giant, and requires Paramount to release 30 movies a year at the combined studios.
Paramount has agreed to various terms, including investing $1.5 billion in domestic film and TV production, and not selling or closing its big studio lots in the Los Angeles area, in a bid to appease politicians and unions.
Read more: https://www.bloomberg.com/news/articles/2026-09-21/paramount-settles-lawsuits-allowing-for-warner-bros-acquisition
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@seekingenlightenment9685
December 21, 2023 at 12:32 am
Does inflation track the Tory Party Lying and Desperation Index ?
@traveler320ak7
December 21, 2023 at 12:32 am
I just spent a few weeks in the UK. I noticed that food is way cheaper than in the United States…based on the current exchange rate. I noticed that even products made in the US and shipped to England were cheaper by a LOT. Someone is lying about the inflation rates.
@connormcleod9595
December 21, 2023 at 12:32 am
Wait till 2025 and get the property 30% less. Let time do the negotiating.
@MegaVuvu
December 21, 2023 at 12:32 am
Can we get to 20%
@veronicagallo2624
December 21, 2023 at 12:32 am
Never mind, Zelensky's demand are much more important than UK citizens.
@jessefaw
December 21, 2023 at 12:32 am
Jack up the interest rates
@georgemaximus694
December 21, 2023 at 12:32 am
The greatest rise of inflation is about to dawn upon humanity like never seen before in history. The single greatest threat that central bankers around the world has unleashed. Paul volker saved the US from inflation last time but this time the inflation monster will rise again. Central bankers are helpless and hoping for a “soft landing” to end inflation but failed again
@masterstacks2030
December 21, 2023 at 12:32 am
bye bye UK
@donpresidente2121
December 21, 2023 at 12:32 am
Should raise 100 basis points
@ThomasRutgers-rc7pc
December 21, 2023 at 12:32 am
Too many people chasing the same bag of crisp. We need to stop mass immigration
@ghosthdel3098
December 21, 2023 at 12:32 am
The average British are quite wealthy, my frind who works as shop assistant in a large supermarket have a home wit 3 bedrooms, front garden and Back Garden. The average British are lying when they say they cant afford food/heating bills/mortgage payment…etc.
@m.a.r.s.6632
December 21, 2023 at 12:32 am
It's so sad. Why do we need the Bank of England? Why don't we print our own money? Why do we need the same old parties to tell us what we can and not do? People this will be your last chance!
@australianpatriot
December 21, 2023 at 12:32 am
50? needs 100+
@markturner5858
December 21, 2023 at 12:32 am
Hoping & praying they experience the longest depression possible for a slaver💯 God slave the queen.
@markreynolds224
December 21, 2023 at 12:32 am
Rishi 5 pledges are not looking good, inflation not falling as much as expected, boats still arriving and with the nhs strikes the waiting list are not dropping, so hopefully they wont be repeating these pledges at every opportunity because they are not being met.
@illegalsmirf
December 21, 2023 at 12:32 am
Lizzie is a fox, she makes me inflated 😉
@photoman3579
December 21, 2023 at 12:32 am
Resolution think tank are left wing trash !!
@archiemcberry7102
December 21, 2023 at 12:32 am
High food prices lead to weight loss and better health. It is a government weight loss program which will bring down NHS costs.
@AH-fm7rj
December 21, 2023 at 12:32 am
Inflation numbers are wrong. I live in Germany, we got at least 20% inflation here.
@AmitKumar-tg7of
December 21, 2023 at 12:32 am
Lovely Lizzy!
@kal2521
December 21, 2023 at 12:32 am
Let them default. That's what I like about the US. they just let it hit and just restart. On the others protection protection sure that will always lead to higher inflation
@thecountofmontecristo8280
December 21, 2023 at 12:32 am
Watch the BOE hike by a meagre 25bps.
@RTA6084
December 21, 2023 at 12:32 am
Good news, God will take away all the wealth looted from all over the world and killed millions of people for the same purposes
@xh3992
December 21, 2023 at 12:32 am
UK is fked , but this is not news after brexit
@MrMarco4ever
December 21, 2023 at 12:32 am
The economic model of high debt and low growth was inevitably going to lead to this disaster at some point. A major recession surely is on the cards.
@JaneC808
December 21, 2023 at 12:32 am
We can tell that US data was not close to the truth.
@brewsandbass5572
December 21, 2023 at 12:32 am
I have to give the UK credit for not lying about its numbers like the US does.