Bloomberg News

Welcome to Bloomberg’s new Banking Industry Monitor, bringing to you the top news on the global banking industry with emerging trends, winners and losers and market opportunities. Sign up: bloom.bg/4e65HY2 From the first edition: The war for talent and coping with regulators were recurring themes this week, along with signs that the drought in deal-making is still a drag on profits. Read more: bloom.bg/3HwT1NE

TONIGHT: President Donald Trump is pushing to make sure the US remains the leading AI superpower. But is it enough to keep China at bay? What questions do you have? Tune in to our live conversation with Bloomberg’s Annabelle Droulers, Stephanie Lai, Yuan Gao and Rachel Metz as they discuss the latest in the AI race — and answer real-time questions posted by Bloomberg digital subscribers and Terminal clients. 🎧 Tune in to our Live Q&A starting at 8 p.m EDT: https://lnkd.in/ggzKdTZv

SpaceX investor beware: Musk previously served as senior adviser to President Donald Trump “in connection with the Department of Government Efficiency and may in the future serve in similar roles and devote significant time and energy to such roles,” according to documents reviewed by Bloomberg and people familiar with the content who were not authorized to speak publicly on the matter. To some its boiler plate and some take the “risk factors” section more seriously. But a lot of you are reading this one… maybe for some clues? Story with Loren Grush and Dana Hull. Edited Shelly Banjo Eric Johnson https://lnkd.in/gwFvu7Dc

Tom Hayes, the former star UBS trader who was the face of the Libor rigging scandal, won a bid to overturn his criminal conviction, clearing his name a decade after he was sent to jail. Jonathan Browning has more bloom.bg/45gyDcJ

Meme stock mania is back like it's 2021 all over again. Traders are in full risk-on mode, leaving some experts worried about creating a bubble that’s destined to pop. Alexandra Semenova explains why this time might be different bloom.bg/4kZaBrB

The EU and China are preparing a landmark joint statement on climate cooperation, a move that could help galvanize momentum ahead of the COP30 summit later this year.

As public markets shrink, private markets have grown into a $13 trillion force. Sonali Basak breaks down why investors and regulators are sounding the alarm. Watch the full episode of Bullish on the Bloomberg app https://bloom.bg/4n4Ih9l 

First joint byline with my new tax reporter colleague @CaitlinReilly focuses on the top tax bill headaches for the IRS to implement: new tax breaks on tips and overtime; a new factory tax credit; taxes on remittances to foreign countries and more. Check out the details here https://lnkd.in/eJfBXYGv

President Trump is crowing about opening up Japan to US auto companies courts as part of the new US trade deal. But it isn’t (non-existent) tariffs that keep US vehicles out of Japanese hands. It’s that Japan doesn’t want the sort of vehicles made in the US. Detroit has mostly retreated from inter auto al markets to sell high-margin trucks and SUVs at home. These aren’t in demand in a country that is densely populated and pays 40% more for gasoline. The deal offers a different kind of hope for Detroit: Hope of a better deal for Canada and Mexico. Read about it here at Bloomberg Opinion https://lnkd.in/ecE2g2u9

In addition to saving homeowners billions of dollars, Energy Star helps the real estate industry make buildings more energy efficient