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HSBC’s Roberts Discusses Job Cuts, Strategy, US Tariffs

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The head of HSBC’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks. Michael Roberts spoke with Bloomberg’s Manus Cranny about the banks restructuring, how the markets reacted to Donald Trump’s election win, and the impact of potentially higher tariffs coming out of the US.
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Stocks Waver as Voters Head to Polls; US, Iran Pursue Diplomacy; Tech Earnings

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US equity futures waver as the first set of polls open for the midterm elections. Iran and the US are reviewing the latest proposals on peace negotiations from mediators, according to a diplomat. Apple delivers a mixed outlook in the first quarterly report under CEO John Ternus. Peter Oppenheimer of Goldman Sachs joins “Bloomberg Brief” to discuss the risk of further market volatility after the elections. Laurel Rapp of Chatham House explains what is at stake for both Democrats and Republicans.

Chapters:
00:00:14 – Bloomberg Brief: Election Day, Markets & Top Stories
00:00:55 – Asia Markets, China Liquidity & Australia Rate Hike
00:03:44 – Apple Earnings, Palantir & Nvidia
00:05:00 – U.S. Midterm Elections: Key Battleground States
00:08:20 – Peter Oppenheimer on Election Risks & Market Positioning
00:17:28 – AI Financing: Oracle, Google, Microsoft & Meta
00:22:36 – Apple Margin Pressures & AI Costs
00:26:59 – U.S.-Iran Negotiations & Oil Prices
00:34:04 – Democrats’ Prospects for a Blue Wave
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Big Tech Rallies as Election Results Reshape AI Spending Outlook | Closing Bell

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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Vonnie Quinn, Carol Massar and Tim Stenovec.
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What Could Stand in the Way of India’s Growth Ambitions

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India is the world’s fastest-growing major economy. But higher interest rates, a weak rupee, foreign investor outflows and youth protests are testing its ambitions.

What’s next for India will come into focus at this year’s Bloomberg New Economy Forum in New Delhi.

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Why Capitalism Is Losing Young Americans

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Socialism was once widely seen as politically disqualifying in the United States, but democratic socialist candidates and ideas are gaining greater visibility, particularly among younger voters. Former House Speaker Paul Ryan and investor Steven Rattner argue that frustration over affordability, inequality and economic insecurity is making voters more receptive to alternatives to traditional free-market policies.
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Global Stock Selloff: AI Investment Will Continue, George Colony Says

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George Colony, Forrester Research Founder, Chairman & CEO says the AI boom may be entering a new phase. Custom chips could challenge Nvidia’s dominance, while value shifts toward software. But the transition won’t be smooth: companies must adapt to AI computing, or risk being left behind.
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