Business
Saudis Pledge Million-Barrel Cut at OPEC+ Meet; Oil Surges
Saudi Arabia has pledged an extra 1 million barrel-a-day oil supply cut in July to stabilize the market following an OPEC+ meeting over the weekend. Oil jumped after the announcement. Su Keenan reports on Bloomberg Television.
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Former Canadian Deputy Prime Minister Chrystia Freeland tells Bloomberg This Weekend that Canada and other democracies must become less reliant on the US while remaining open to rebuilding the Western alliance. Speaking with hosts David Gura and Christina Ruffini, Freeland discusses Alberta’s separatist movement, President Donald Trump’s approach to Russia and Ukraine, and lessons from her negotiations with the US that inform her new book, Unreliable Boyfriend.
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“It was an inartful way to say something.”
JPMorgan’s Jamie Dimon addresses the backlash over Standard Chartered CEO Bill Winters’ remarks on AI replacing “lower-value human capital,” saying that AI will affect all jobs.
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Elon Musk reveals a new prototype of its Roadster sports car at a SpaceX facility in Texas. The car can launch into the air thanks to air thrusters. Musk showed off this capability at the event. It won’t go into production until 2028. Musk says this shows what can happen when his companies work together. Bloomberg’s Craig Trudell reports.
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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.
The 10-year US Treasury yield rose to the highest level in almost two decades, the latest milestone in a bruising global bond selloff driven by surging energy prices, mounting debt and inflation.
Japan is considering a new mid-term defense spending target of 3.5% of GDP in line with NATO and other US allies, a move that could send a shockwave through financial markets concerned about Prime Minister Sanae Takaichi’s spending plans.
And President Donald Trump’s opposition to guardrails on artificial intelligence puts him at odds with a growing number of lawmakers from both parties, with AI safety fears adding to voters’ misgivings about the technology heading into the midterm elections.
Today’s guest: Thomas Buberl, Axa CEO
Chapters:
00:00:00 – Daybreak Europe
00:01:08 – Global Stocks Fall on Inflation Fears
00:03:54 – Asia Stocks Trade Mixed Amid AI Slowdown Fears
00:06:25 – Ten-Year Treasury Yield Rises to Highest Since 2007 as Fed Looms
00:10:39 – Investors Rotate Out of US Semis
00:14:18 – Zelenskyy Says no Deal Yet on Energy Strikes Halt
00:16:42 – Japan is Said to Mull Raising Defense Spending to 3.5% of GDP
00:20:33 – Carney Courts World’s Top Investors at Toronto Summit
00:26:55 – Thomas Buberl, Axa CEO
00:40:13 – Barclays CEO: UK Surcharge Issue Could be Sword of Damocles
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India’s new closing-auction system was meant to improve end-of-day prices. In the options market, however, the mechanism is producing extreme swings that are creating and wiping out gains in minutes.
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@Chriswatt313
January 28, 2024 at 12:59 pm
Who benefits from instability in the Middle East ……big oil……..dnt get how hamas could of got into Israel that easy in mass wiv heavy guns 50 cal and vehicles,when there borders are well defended ,some one helped train em to spec opp level….makes u think
@kayhussain8468
January 28, 2024 at 12:59 pm
The day opec takes all currency to buy oil is the days that U.S. inflation goes over 15 percent in 2024 I think
@_6666-
January 28, 2024 at 12:59 pm
@forest2344 PERHAPS THATS WHY B.R.I.C.S. WAS FORMED ? 🧐
@_6666-
January 28, 2024 at 12:59 pm
GO OPEC ! SOVEREIGN U.S.TRIBAL NATIONS SHOULD BE ABLE TO APPLY ! FOR A BETTER FUTURE
@nyfan9215
January 28, 2024 at 12:59 pm
World needs more cut as a woke liberal climate activist i support this
@forest2344
January 28, 2024 at 12:59 pm
BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
@zerog4879
January 28, 2024 at 12:59 pm
If rice and wheat had a cartel these guys would starve in the desert.
@johnnycarson109
January 28, 2024 at 12:59 pm
Start buying at your local Stores now supplies food water and tools! Because Price are going up and guess what that means… More money for the greedy businesses price of milk $6 nope make it $12 and no pay raise for you employees. Your all going to have nothing and be happy.
@anam.caballerowilson9421
January 28, 2024 at 12:59 pm
Hammer down!!
@anam.caballerowilson9421
January 28, 2024 at 12:59 pm
Interesting! My boy lollipop
@crstyalrepoosoot9
January 28, 2024 at 12:59 pm
Opec 👍👍😂😂😂
@patpp
January 28, 2024 at 12:59 pm
It will increase inflation and will be bad for the common people around the globe.
@happykitten5695
January 28, 2024 at 12:59 pm
🙏☮💛🕉️
@Shining237
January 28, 2024 at 12:59 pm
I hope the price of 🛢️⛽ skyrockets. Maybe then our 🇺🇲 leaders in Washington will stop these needless expensive proxy Wars 🪖
@parrsnipps4495
January 28, 2024 at 12:59 pm
Interesting isn't it, that as much as people are saying we need to get to net zero carbon emissions, when the Saudi's cut back, people are like those bastards, we don't want to pay more at the pumps!
@abhijitpal7750
January 28, 2024 at 12:59 pm
06/06/2023.
Saudi stocks market record high. 61.67%.
Bonds market record high.
Jobs market record high.
Labor market record high.
Equities market record high.
Credit market record high.
Gasoline prices high.
Oil market record high.
Housing market record high.
Food prices high.
1981 to 2004. Saudi economic history.
Jai shree krishna.
@domfel2123
January 28, 2024 at 12:59 pm
nauxious
@DjDmt
January 28, 2024 at 12:59 pm
They already know we're in a recession
@lilacer6841
January 28, 2024 at 12:59 pm
Well done OPEC+
@mdubb4855
January 28, 2024 at 12:59 pm
Looks like someone needs to pay for an IPO.
@xanvavy
January 28, 2024 at 12:59 pm
The real cartel is the Biden administration.
@zionen01
January 28, 2024 at 12:59 pm
Saudis are losing so much money and they’ll never make it back. Recession is here and market slowdown means low demand regardless.
@yihuda7459
January 28, 2024 at 12:59 pm
This will hurt many developing countries especially the poor countries….they already struggle from after corona ,inflation, Ukrainian war and,us interest rate hikes….
@AS-tt8ui
January 28, 2024 at 12:59 pm
We lost our energy independence. Thanks Joe. I hope gas goes to $6.00 in 2024 right before election.
@donrektmeplease
January 28, 2024 at 12:59 pm
This is the most hilarious thing in the world. Sauds have been hoarding THEIR oil while selling RUSSIAN oil to the world since the Ukraine war started & the western world is happily gobbling it up in pretence of its overwhelming support of Ukraine.