Chapter 1: What factors contribute to the UK's appeal as a business destination?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it. With Bloomberg News Now, I'm Ed Kalecki. Wall Street wrapped up a down week with a powerful Friday surge. We get more from Bloomberg's Charlie Pellett.
First close ever for the Dow Jones Industrial Average above 50,000. It was the biggest advance for the S&P 500 index since May, but on the week, the S&P dropped one-tenth of one percent. A renewed wave of dip buying lifted stocks in the wake of a tech rout Thursday fueled by worries over the billions of dollars those firms are throwing at artificial intelligence development.
Bitcoin rebounded, gold and silver jumped after Thursday's decline. On the week, Dow Industrials up 2.5%, NASDAQ down for a fourth week, down 1.8% in New York. Charlie Pellett, Bloomberg Radio.
New York and New Jersey want a temporary court order blocking the Trump administration's freeze on federal funds for the $16 billion gateway tunnel under the Hudson River. U.S. District Judge Jeanette Vargas on Friday granted a request by the two states for a temporary injunction restoring funding to the project while their lawsuit against the U.S. Department of Transportation continues.
The ruling is a major victory for the tunnel development, which was set to halt work by the end of the day. The White House and the Department of Transportation did not immediately respond to requests for comment after normal business hours. The Wall Street Journal reports the FBI and the Pima County Sheriff's Department are reviewing a new message regarding the disappearance of Nancy Guthrie.
Guthrie, 84, is the mother of today co-anchor Savannah Guthrie. Nancy Guthrie's case has been thrust into the national spotlight since she was reported missing Sunday, with President Trump expressing a personal interest in the situation and directing federal resources to the case.
The official statement said investigators are actively inspecting the information provided in the message for its authenticity. The statement did not disclose details about the contents of the note. Bitcoin is reclaiming its place among the favorite assets of thrill-seeking speculative traders. On Friday, the original digital currency surged the most in almost three years.
To recoup almost all of the losses registered during Thursday's crypto market meltdown that had dragged the token down more than 50% from its October peak. The dizzying swings of around 13% have helped to reignite a jump in the volatility that traders traditionally relish because of the potential profit opportunities. Trump administration emissaries spoke again Friday with Iranian officials.
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Chapter 2: How did the Dow Jones Industrial Average reach over 50,000?
FBI has arrested one of the key participants behind the Benghazi attack. Zubar al-Bukhash landed at Andrews Air Force Base at 3 a.m. this morning. He is in our custody. He'll face American justice on American soil.
The attorney general gave no details on the circumstances of his capture. President Trump has deleted a racist video depicting Barack and Michelle Obama as apes from his social media platform after a bipartisan outcry, including from Tim Scott, the only black Republican U.S. senator. Trump reposted the clip on Thursday to his 11.7 million followers on Truth Social.
It included a narrator making unsubstantiated claims that voting machines were insecure in battleground states during the 2020 election, which former President Joe Biden won. In the last seconds of the video, photos appear of the former president and first lady's faces with their mouths agape, superimposed on the bodies of primates.
Trump administration officials are exploring opening an antitrust investigation into U.S. homebuilders as the White House sharpens its focus on tackling the country's housing affordability crisis. One potential focus is on how information is shared through an industry trade group called Leading Builders of America.
Officials have grown concerned that the trade group, whose members include Lenar and D.R. Horton, could be used to restrict housing supply or coordinate pricing. NVIDIA shares soared Friday as investors snapped up shares of companies positioned to benefit from the vast sum of money that big technology firms have said they'll spend on artificial intelligence infrastructure this year.
Shares of the chipmaker closed 7.8% higher for its best day since April 9th. adding roughly $325 billion in value in the fourth largest one-day market cap gain for a stock ever. That snapped a five-day losing streak for NVIDIA, which erased about $500 billion amid a broader sell-off as software and technology shares tumbled.
The FDA says it will crack down on copycat weight loss drugs like those marketed by HIMSS and HERS Health just a day after the telehealth firm started offering a deeply discounted knockoff pill. HIMSS said Thursday it would sell a cheaper version of Novo Nordisk's new Wagovi weight loss pill. Novo quickly called the move illegal and promised to take legal and regulatory action to protect patents.
President Trump signed a directive Friday further increasing the amount of beef imported into the U.S. from Argentina, his latest move to address Americans' concerns about affordability. The proclamation finalizes the terms of a deal the U.S. and Argentina signed on Thursday, scrapping hundreds of tariffs and trade barriers in each other's goods. The quota of beef allowed into the U.S.
with preferential tariff treatment in 2026 will increase by 80,000 metric tons. The Friday numbers on Wall Street, the Dow gained 1206, nearly 2.5%, finishing over the 50,000 mark. NASDAQ was up 490, that's 2.1%. The S&P added 133, nearly 2%. The 10-year Treasury yield is at 4.2%. The two-year, it's at 3.49%. That's news when you want it with Bloomberg News Now. I'm Ed Kalecki. This is Bloomberg.
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Chapter 3: What legal actions are being taken regarding the Gateway Tunnel funding?
Home to four of the world's top universities, it provides exceptional talent and breakthrough research. This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.
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