SK Hynix has raised $26.5 billion in its American depositary receipt offering, as the South Korean memory chipmaker powered through volatility to deliver the largest ever US first-time share sale by a foreign company.

Japan’s finance minister has called for the nation’s massive pension funds to increase investments in domestic assets, boosting the yen from near four-decade lows and spurring a rally in bonds.

EasyJet has received a fresh offer from private equity firm Apollo Global Management that beats a rival proposal from Castlelake, a surprise twist in the takeover saga that sets up a possible bidding war between the two US investment funds.

Today’s guests: Marina Zavolock, Morgan Stanley Chief European Equity Strategist; Phoenix Kalen, SocGen CIB Global Head of Emerging Markets Research ; Carlos Cuerpo, Spanish Economy Minister

—
“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:41 – The Pulse
00:02:54 – SK Hynix ADRs raise $26.5 billion in top foreign debut
00:06:15 – Marina Zavolock, Morgan Stanley Chief European Equity Strategist
00:12:34 – EasyJet get £5.7 billion Apollo big
00:14:58 – Japan urges pension funds to invest more at home
00:17:29 – Phoenix Kalen, SocGen CIB Global Head of Emerging Markets Research
00:25:11 – Friday headlines
00:25:52 – Volkswagen eyes halving model lineup
00:29:14 – EXCLUSIVE: Carlos Cuerpo, Spanish Economy Minister
00:39:26 – Friday top stories
00:40:57 – Why young investors are taking on big risks
00:43:47 – Lecun: Ship has sailed for Europe on LLMs
00:47:16 – The Big Take: China’s Secretive New Chip Giant Is Built to Dodge US Curbs
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The US struck Iran for the second straight day in an escalation of violence that threatens efforts to reach a permanent peace deal. The attacks came just hours after President Donald Trump at the NATO summit said the US would probably target Iran again. Bloomberg’s Abeer Abu Omar reports.
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On today’s Big Take podcast, Bloomberg’s Enda Curran joins host David Gura to talk about Kevin Warsh’s first Federal Reserve meeting as chairman and his missing forecast on the dot plot. Listen wherever you get your podcasts.
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Delta Air Lines Inc. reaffirmed its full-year profit guidance and said strong demand for premium, corporate and international travel helped offset the highest quarterly fuel expense in its history, Stephen Trent, president and founder of SDT Capital Advisors, says the earnings and guidance were solid and shows the carrier surprised some on Wall Street. He speaks on “Bloomberg Surveillance.”
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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day.

Chapters:
00:00:00 Bloomberg Surveillance starts
02:48 AI Trade, Samsung Earnings & Memory Stocks — Julian Emanuel, Evercore
18:32 Geopolitics, Defense Stocks & Market Risks — Julian Emanuel, Evercore
32:13 AI Memory, Samsung & HBM Demand — Matt Bryson, Wedbush
40:27 AI Profits, ROI & Market Valuations — Torsten Sløk, Apollo
50:55 AI CapEx, Big Tech & Earnings — Stuart Kaiser, Citi
01:06:06 NATO, Europe & Defense Spending — Jon Lieber, Eurasia Group
01:17:08 Consumer Spending, Inflation & Walmart Prices — Michelle Meyer, Mastercard
01:25:57 NATO, Ukraine & Defense Spending — Ulf Kristersson, Swedish Prime Minister
01:39:11 AI CapEx, Tech Rotation & Earnings — Keith Lerner, Truist
01:53:14 AI Memory, SK Hynix & Chip Demand — Ted Mortonson, Baird
02:05:53 Fed Outlook, Treasury Yields & Rate Hikes — Collin Martin, Charles Schwab
02:16:31 SpaceX Valuation & AI Infrastructure — Nicolas Owens, Morningstar
——–
More on Bloomberg Television and Markets

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