The US Federal Reserve cut rates by a quarter percentage point for the third consecutive time. The vote was split 9-3 and details from the meeting show growing division among policymakers. The Fed maintained its outlook for just one cut in 2026, but the wording of its statement was subtly altered to suggest greater uncertainty around the timing.
The US military seized an oil tanker off the coast of Venezuela, in a serious escalation of tensions. The tanker was sanctioned by the US in 2022, for supporting Iranian oil exports. Venezuela’s leaders described it as "blatant theft" and an "act of piracy."
Plus Oracle shares plummeted after the AI bellwether reported second quarter earnings that disappointed. Spending on AI data centers will be around $50 billion in the fiscal year ending May 2026 – that’s 40% higher than forecast in September. At the same time, cloud revenue fell short of analysts’ estimates.
Today’s guests: Derek Halpenny, MUFG, Global Markets Head of Research; Noubar Afeyan, Flagship Pioneering Founder & CEO and Moderna Co-Founder; Jimmy Wales, Wikipedia Co-Founder; Jim O’Neill, UK House of Lords Members and former Goldman Sachs Asset Management Chairman
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse with Francine Lacqua 12/11/2025
00:01:31 – Powell Signals Slowdown in Pace of Cuts
00:03:26 – US Economy Not Looking As Good As Forecasts: Halpenny
00:09:20 – Venezuela & US Tensions Escalate Over Tanker
00:12:44 – Impact of Vaccine Skepticism
00:15:06 – Moderna Charts Post-Pandemic Future
00:23:02 – Oracle Spending Jumps, Sales Disappoint
00:25:28 – In Conversation with Wikipedia Co-Founder Jimmy Wales
00:34:28 – Exclusive: ASML CEO Says AI Boom Spending Justified
00:39:26 – Preview: Theresa May on “Leaders with Francine Lacqua”
00:40:31 – Reeves Calls Out ‘Damaging’ Budget Leaks
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More on Bloomberg Television and Markets
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