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On today's podcast:
(1) Chancellor of the Exchequer Rachel Reeves sought to reassure the financial markets after her budget on Wednesday triggered a selloff in UK bonds, saying that the “No. 1 commitment” of the Labour government is “economic and fiscal stability.

(2) Apple heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market.

(3) Intel gave a fourth-quarter revenue forecast slightly above estimates, sparking optimism that it’s capable of reclaiming some lost market share.

(4) Amazon reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce giant on sounder footing.

(5) Donald Trump and his allies are telling supporters that they’re on pace for a runaway victory barring fraud — setting the stage for outrage and legal challenges if the election doesn’t break in favor of Republicans.

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What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Chancellor of the Exchequer Rachel Reeves delivered a massive package of tax hikes alongside plans to ramp up public investment in a historic first budget that aimed to revive the UK economy — but fell short of delivering a major boost to its growth prospects.

(2) Labour's first budget in over a decade raises taxes by £40 billion a year to fund a £70 billion annual increase in public spending. The plan marks a shift back to big state economics, with spending as a share of GDP set to be 5 percentage points higher than before the pandemic.

(3) Microsoft shares dropped in late trading after the software maker forecast slower quarterly cloud revenue growth, reflecting the company’s struggle to bring data centers online fast enough to keep up with demand for artificial intelligence services.

(4) Meta CEO Mark Zuckerberg will ramp up heavy investments in AI and other futuristic technologies, continuing a years-long tug-of-war between the company’s long-term bets and the core advertising business that provides the vast majority of Meta’s revenue.

(5) China’s economy showed signs of stabilizing after Beijing unleashed the boldest stimulus measures since the pandemic, although an upcoming US election injects uncertainty into the recovery.

See omnystudio.com/listener for privacy information.

What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) UK Chancellor Rachel Reeves will pledge to “rebuild Britain” with her first budget, an historic moment that will include a major package of tax hikes and extra borrowing likely to define British politics for the rest of the decade.

(2) UBS posted third quarter results that broadly beat expectations, while warning of headwinds ranging from the US elections to falling interest income.

(3) The European Union has imposed higher tariffs peaking at 45% on electric vehicles from China, ratcheting up trade tensions between the world’s leading export powers.

(4) Google parent Alphabet showed on Tuesday that an expensive foray into artificial intelligence is starting to pay off, delivering better-than-expected traction for its cloud computing business and driving more usage for its flagship search engine.

(5) Advanced Micro Devices slid in late trading after the chipmaker’s revenue forecast missed analysts’ estimates, a sign its artificial intelligence sales are growing more slowly than some had anticipated.

(6) Democratic presidential candidate Kamala Harris argued a second Donald Trump presidency would be steeped in chaos and division — but not focused on Americans’ needs — as she looked to rally voters from the National Mall one week before Election Day.

See omnystudio.com/listener for privacy information.