Mind The Reserve. . .

        

The Big Take

Fed That Fights Back Is a Threat to Trump’s Takeover Plan

For the first time, Jerome Powell responded defiantly to the president’s attacks, and the administration is now worried about its plans to replace the Fed chair.

Listen (17:00)

What the DOJ Subpoenas Mean for the Fed 

 

 

Powell Probe Stirs GOP Concern, Threat to Stop Trump Nominee

Exclusive

Jeanine Pirro Is Going After Powell, Heedless of Backlash

Central Banks Work on Statement in Solidarity With Fed’s Powell

Iran Protests

Hundreds KilledUS Discussing OptionsWhat a Revolution Could Mean

Aaron Schwartz/CNP/Bloomberg

Trump Risks Imploding China Trade Truce With Iran Tariff Vow

Trump Vows 25% Tariff on Countries Doing Business With Iran

Germany’s Merz Predicts Downfall of Iran’s Islamic Republic

Kiyoshi Ota/Bloomberg

 

 

 

 

 

 

Takaichi’s Early Japan Election Plans Jolt Yen, Bonds and Stocks

A snap election could capitalize on Takaichi’s roughly 70% approval rating and strengthen the LDP’s grip on the powerful lower house.

Markets Wrap

Stock Rally Builds, Yen Falls to Lowest Since 2024

Nick Oxford/Bloomberg

 

 

 

 

 

 

 

 

 

 

 

 

 

Exclusive

Diameter’s Winning Bet on First Brands Turns ‘Horribly Wrong’

After Scott Goodwin and Jonathan Lewinsohn nailed a short bet on First Brands, the two doubled down with a reverse wager — hoping for a second payout. The move still haunts them.

Bloomberg Opinion

 

  

Iran Is Vulnerable. Is It Time for the US to Intervene?

By Hal Brands, Columnist 

 

 

 

 

 

 

 

When All the King’s Men Are Too Eager to Please

By John Authers, Columnist

Germany’s $1.2 Trillion Debt Bazooka Is Veering Off Target

By Chris Bryant, Columnist

Trump’s Credit-Card Cap Would Feed the Weakest to the Sharks

By Paul J. Davies, Columnist

Exclusive

UBS CEO Ermotti Warns Swiss Banking Reforms Go Too Far

“This is now a political process,” Ermotti told Bloomberg TV.

UBS CEO Ermotti Plans to Step Down in April 2027, FT Says

Bing Guan/Bloomberg

 

 

 

 

 

 

 

 

 

 

 

 

 

Exclusive

BlackRock Cuts Hundreds of Jobs, Trimming About 1% of Staff

The cuts come as Chief Executive Officer Larry Fink works to re-wire the world’s largest asset manager and push deeper into alternative investments.

Related

Citi to Cut About 1,000 Jobs This Week as Fraser Trims Costs

Morgan Stanley Asia Bonuses Up 20% as Revenue Nears $10 Billion

Trump’s Second Term

Fed DOJ SubpoenasVenezuela AttacksGreenland

Patrick T. Fallon/AFP/Getty Images

Ackman Pitches Prepayment Penalties as Way to Cut Mortgage Rates

Wall Street Homebuyers Plan Counter-Offer After Trump Threat

Senate Panel Releases Crypto Bill Allowing Stablecoin Rewards

Latest

14 min

Orsted Jumps After Ruling to Resume Wind Project Halted by Trump

18 min

Greenland Calls on NATO to Ensure Defense Amid US Threats

18 min

Central Banks Work on Statement in Solidarity With Fed’s Powell

40 min

Germany’s Merz Predicts Downfall of Iran’s Islamic Republic

45 min

Rally in European Stocks Now Looks Hottest in Over a Decade

50 min

Persimmon UK Home Sales Rose 12% in 2025, Beating Estimates

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In Focus

Trump’s Second TermUS StocksThe FedIran ProtestsUS Attacks on VenezuelaGreenland

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Newsletter: Evening Briefing: Americas

Former Fed Chairs Condemn US Targeting of Powell

Newsletter: Washington Edition

Where Does the Powell Probe Go From Here?

Newsletter: Odd Lots

The Fed Fight Goes to a Whole New Level

Listen (33:11)

Odd Lots: The Fed Fight Goes to the Next Level

Listen (54:05)

Odd Lots: Cullen Roche on Building a Perfect Portfolio

Bloomberg News Now

Listen to the latest: Trump's Iran Tariff Vow, Takaichi’s Early Japan Election, More

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Key news and movers in this fast-growing market and globally before the trading day starts.

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Regions

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• Monetary Policy

  • Central Banks Work on Statement in Solidarity With Fed’s Powell

    
  • Weak Yen May Spur BOJ Rate Hike in April, Ex-Board Member Says

    
  • RBNZ Names Seven Members of New Financial Policy Committee

    
  • Jeanine Pirro Is Going After Powell, Heedless of Backlash

    
  • Fed That Fights Back Is a Threat to Trump’s Takeover Plan

    
• Energy

  • Corporate Budgets Hold $1.3 Trillion of Untapped Climate Capital

    
  • Opinion

    Germany’s $1.2 Trillion Debt Bazooka Is Veering Off Target

    
  • France Misses 2025 Target for Reducing Greenhouse Gas Emissions

    
  • China Cold Snap Risks Further Boosting Winter LNG Purchases

    
  • Chinese Rocket Shares Slump After Warnings on ‘Irrational’ Rally

    
• AI

  • UK Recruiters Face Dire Year With Tough Jobs Market, AI Threat

    
  • Nigeria Set to Pass Sweeping AI Rules for Digital Economy

    
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  • GigaDevice Jumps 38% in Hong Kong After $600 Million Listing

    
  • Starmer Vows to Enforce UK Law Against X’s ‘Shameful’ AI Tool

I’ve Studied How Democracies Fail. Here’s My Unified Theory of Trump

There’s a through line that runs from tariffs to toppling a foreign leader. It’s all about expanding the power of the presidency.

 

This Is Who Companies Call When They Want to Become a Bank

Financial firms are racing to secure US bank charters during Trump’s presidency, with Klaros Group advising at least a dozen of them.

Young Men Are Lost. A New Book Can Guide the Way

The memoir Generation Desperation begins to fill the narrative gap about the journey to contemporary male adulthood

Markets

Odd LotsETFsCryptoDeals

Adam Glanzman/Bloomberg

Orsted Jumps After Ruling to Resume Wind Project Halted by Trump

Rally in European Stocks Now Looks Hottest in Over a Decade

Diageo Is Said to Weigh Options for China Assets Including Sale

Newsletter: Odd Lots

The Fed Fight Goes to a Whole New Level

Newsletter: Markets Daily

The Sell America Trade Is Back as US Targets Fed Chair

 

Bloomberg Businessweek

Ahmet Talha/Getty Images

We’re Obsessed With Living Longer, But What About Living Better?

A week at a blue-zone retreat in Sardinia lays bare the tensions between longevity and loneliness.

By Alice Robb