Chapter 1: What is the main topic discussed in this episode?
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 Stephen Carroll.
And I'm Caroline Hepker.
Bloomberg understands that the Trump administration is preparing for the president to nominate Kevin Warsh as the next chair of the Federal Reserve. Donald Trump says he plans to announce his pick for the job later today. According to one source, the former Fed governor visited the White House yesterday.
Speaking last night, President Trump teased his impending announcement without giving the name away.
Roger will say it tomorrow, but just an outstanding person and a person that won't be too surprising to people. A lot of people think that this is somebody that could have been there a few years ago. It's going to be somebody that is very respected, somebody that's known to everybody in the financial world, and I think it's going to be a very good choice. I hope so.
Donald Trump speaking there. Sources who spoke to Bloomberg on the basis of anonymity warned the selection is not final until the announcement is made.
Well, Kevin Walsh served on the US Central Bank's Board of Governors from 2006 to 2011 and has advised Trump on economic policy. If nominated and confirmed, he would succeed Jerome Powell, whose term ends in May. Stocks fell and Treasury yields have pushed higher on bets that Walsh will become the next Fed chair. Mike McKee is Bloomberg's international economics and policy correspondent.
The thing about Warsh and the reason you're seeing markets react the way they are at the moment is that he was very, very hawkish when he was on the Fed before. Even when inflation was low, he wasn't ready to cut interest rates. And obviously that's completely contrary to what President Trump wants. So how does he handle that?
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Chapter 2: Who is Kevin Warsh and why is he being nominated for the Fed chair?
The fleet of ships has about 45 aircraft. But President Trump's goals remain unclear. His message shifting from removing Iran's leaders, punishing the regime for its deadly crackdown on protesters or extracting a new nuclear agreement. The New York Times is reporting that the US president has been presented with an expanded list of potential military options by the Pentagon.
According to the newspaper, the current set of options includes the potential for American forces to carry out raids inside Iran.
Apple has delivered record quarterly sales in a better-than-expected forecast for the current period. Sales at the tech giant trounced Wall Street estimates, jumping 16% to just under $144 billion for the final three months of last year. Bloomberg's chief technology correspondent Mark Gurman says it's hard to put into words just how good the results are.
Massive, massive quarter. This is a home run, their greatest quarter ever by... orders of magnitude. It's a gigantic beat on overall revenue. China is back. You have a big beat on the iPhone in particular. Eighty five billion dollar quarter is just insane. The installed base two and a half billion. The numbers are just beyond excellent.
Bloomberg's Mark Gurman setting out the positive results there, driven by the iPhone 17, as Apple also warns that rising component costs are threatening to squeeze margins in news that clouded the record quarter. According to CEO Tim Cook, the company expects more of an impact to gross margins in the current period.
Now, Donald Trump has warned the UK and Canada over striking fresh business deals with China. Speaking to reporters, the US president advised against attempts to forge closer relations with Beijing.
Well, it's very dangerous for them to do that. And it's even more dangerous, I think, for Canada to get into business with China. Canada is not doing well. They're doing very poorly. And you can't look at China as the answer.
President Trump speaking there hours after the British Prime Minister Keir Starmer met China's Xi Jinping in Beijing. The UK government announced yesterday that China will relax rules for British tourists and business travellers, allowing them to enter the country visa-free for stays of fewer than 30 days.
Starmer's visit follows that of the Canadian leader Mark Carney, who rolled back tariffs on Chinese electric vehicles previously imposed to match US levies.
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