In this Christmas Day special edition of Bloomberg Daybreak with Nathan Hager:

• Tom Porcelli, Chief US Economist at PGIM Fixed Income, discusses what the Fed will do in 2025.
• Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets and Cameron Dawson, the Chief Investment Officer at NewEdge Wealth, break down what we can expect in equities
• Burt Flickinger, the Managing Director at Strategic Resource Group, brings us the winners and losers of the 2024 holiday retail season.

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Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) French Prime Minister Francois Bayrou said he aimed to reach an agreement with parliament on a 2025 budget that would reduce the country’s deficit to close to 5%, near the level his predecessor unsuccessfully tried to reach.

(2) Honda sketched plans for a drawn-out deal that amounts to an acquisition of Nissan, as Japan’s automakers struggle to keep up in an increasingly competitive global car industry.

(3) German President Frank-Walter Steinmeier used his traditional Christmas address to urge citizens to focus on what unites the nation rather than be consumed by grief and horror over Friday’s fatal attack in Magdeburg.

(4) Luigi Mangione pleaded not guilty to New York state murder charges over the shooting of a top UnitedHealth Group executive, as his lawyer expressed concern about getting a fair trial in the high-profile case.

(5) House investigators found “substantial evidence” former Representative Matt Gaetz paid several women — including a 17-year-old girl — for sex and bought and used illegal drugs while in Congress, according to a bipartisan committee report released Monday.

See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) Panama’s president rebuffed Donald Trump’s threat to reimpose US control over the Panama Canal, saying its shipping tolls aren’t inflated and that sovereignty over the waterway isn’t negotiable.

(2) Donald Trump said Sunday that he will be president of the US — not Elon Musk.

(3) French Prime Minister Francois Bayrou is running out of time to meet his self-imposed deadline to name a new cabinet that won’t be quickly toppled by a no-confidence vote in parliament.

(4) UK private sector activity is set for a “steep” decline in the next three months, the Confederation of British Industry said, putting immediate pressure on Chancellor of the Exchequer Rachel Reeves to show she can deliver economic growth in the new year.

(5) The same kind of survey failures that have left the UK unsure about the number of people in Britain’s workforce are now raising doubts about the size of its economy.

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