Senate Pulls All-Nighter on Tax Bill; Trump Takes Aim at Musk
On today's podcast: 1) Senate Republican leaders continue to scrounge for votes to pass Donald Trump’s $3.3 trillion tax and spending bill as lingering intraparty fights threaten to upend the legislative centerpiece of the president’s domestic agenda. 2) President Donald Trump lashed out at Elon Musk on Tuesday, accusing the Tesla Inc. and SpaceX chief executive officer of benefiting excessively from government electric vehicle subsidies. Tesla shares tumbled.3) US equity futures are taking a breather after the S&P 500 notched its best quarter since 2023, as investors monitor progress on trade talks and wrangling in Washington over President Donald Trump’s tax bill.See omnystudio.com/listener for privacy information.
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16:42
Senate Republicans Race to Finish Tax Cut Bill; Stocks at All-Time Highs
On today's podcast: 1) Senate Majority Leader John Thune is rushing to meet President Donald Trump’s July 4 deadline for pushing through his massive tax and spending bill, but first he has to work through a list of approximately eight Republican senators who have expressed opposition to portions of it.2) US equity futures climbed as progress in trade negotiations between the Trump administration and key partners added to the upbeat sentiment that had pushed the S&P 500 to a fresh record high.3) Canada has withdrawn its digital services tax on technology companies such as Meta Platforms Inc. and Alphabet Inc. in a move to restart trade talks with the US.See omnystudio.com/listener for privacy information.
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16:49
Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the June jobs report and commodities outlook. In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix. In Asia – a look at relations between China and Iran. See omnystudio.com/listener for privacy information.
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39:19
China Confirms Trade Framework; Stocks on Brink of Record Highs
1) China said it has further confirmed details of a trade framework with Washington, echoing US Commerce Secretary Howard Lutnick’s earlier comments about a US-China agreement that stabilized ties.2) Stocks gained as the US moved closer to trade deals with China and other major trading partners, while expectations are rising for Federal Reserve interest-rate cuts this year.3) The Treasury Department announced a deal with G-7 allies that will exclude US companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill.See omnystudio.com/listener for privacy information.
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16:39
US-Iran Nuclear Talks; Trump's List to Succeed Fed Chair Powell
On today's podcast: 1) President Donald Trump said the US would hold a meeting with Iran next week but cast doubt on the need for a diplomatic agreement on the country’s nuclear program, citing the damage that American bombing had done to key sites. 2) President Donald Trump said he has three or four people in mind to succeed Federal Reserve Chair Jerome Powell when his term expires next year. 3) Shell Plc said it has no intention of making a takeover offer for BP Plc, refuting an earlier report that two of Europe’s biggest companies were in active merger talks.See omnystudio.com/listener for privacy information.
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