Bloomberg Daybreak: Europe Edition

Your morning briefing. All the news you need to start your day. On today's podcast: (1) UK Prime Minister Keir Starmer survived in post on Tuesday despite a slew of ministerial resignations which have so far failed to force his downfall. (2) As UK Prime Minister Keir Starmer slowly loses allies in government and fights for his survival, the escalating political drama is heaping fresh pressure onto a bond market already battered by the country’s deep-rooted fiscal and economic problems. (3) Jamie Dimon warned the UK that any move to hike taxes on banks in the event Keir Starmer is replaced as the UK’s prime minster would see JPMorgan Chase & Co. scrap plans to invest billions in a new London headquarters in Canary Wharf. (4) France’s economy is showing signs of faltering as the fallout from the Middle East conflict hits growth and ratchets up inflation pressure, according to the central bank’s monthly survey of companies. (5) Oil shipments from Iran’s main export terminal appear to have come to a standstill over the past several days, according to satellite images, the first sign of a prolonged halt since the start of the war. (6) US President Donald Trump said he would prioritize trade discussions during his summit with Chinese counterpart Xi Jinping, and downplayed the amount of attention they would devote to the Iran war. (7) When President Donald Trump sits down for talks with China’s Xi Jinping this week, the focus will be on whether the world’s two-biggest powers can stabilize a fraught relationship. But it is the countries caught in between that have been forced to navigate the fallout from the geopolitical storm. Podcast Conversation: Solar is Now so Big in Europe That Power is Going to Waste See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Keir Starmer was facing growing pressure to step down as Britain’s prime minister after dozens of members of Parliament, including Cabinet allies, joined the calls for him to set out a timetable for his departure. (2) A Schroders bond-fund manager is steering clear of UK debt on concern that political upheaval will drag yields higher in the coming months. (3) The ceasefire between the US and Iran reached a particularly precarious moment Monday as President Donald Trump said the agreement was on “massive life support” after he rejected Tehran’s latest peace offer. (4) The US sanctioned a dozen entities and individuals over the sale of Iranian oil to China, stepping up economic pressure just days before President Donald Trump meets his counterpart Xi Jinping. (5) Michael Burry, the investor made famous in The Big Short, is warning that the Nasdaq 100 Index is headed toward a dramatic reversal after a “parabolic” surge that has driven technology valuations to unsustainable heights. (6) In the time it usually takes to watch one football match, the Kospi index shed more than $300 billion in value as the gauge slumped on Tuesday. That’s a bit more than $3 billion a minute in the benchmark index alone, and the scale of the slide helped sour sentiment across Asia. (7) On the 13th floor of the Berlaymont building in Brussels, Ursula von der Leyen has built a presidential operation that exerts control over every aspect of what goes on inside the European Commission Podcast Conversation: What Teens Need From Parents in the Age of AI See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Prime Minister Keir Starmer’s political problems have likely grown too big to solve with a single speech. For now, he will try to forestall an immediate challenge to his job. (2) President Donald Trump and Iran rejected each other’s latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a fragile ceasefire. (3) President Donald Trump is expected to press President Xi Jinping over China’s approach to Iran and hammer out details on a new board of trade when they meet this week in Beijing, senior US officials said Sunday, hours before China confirmed the state visit. (4) China’s factory prices grew at the fastest pace since the pandemic four years ago as the fallout from the Iran war sharply raises costs and leaves profits under pressure. (5) US allies in Europe anticipate that President Donald Trump will withdraw more forces from the continent after he announced he would pull 5,000 troops out of Germany, people familiar with the matter said. (6) Over the past year, Alphabet has gone from an artificial intelligence afterthought to the one firm in the market with dominant positions in nearly every aspect of the technology. (7) Two months of crisis in the Middle East show the conventional tactic of ditching emerging-market assets in times of market stress is no longer a sure-fire defensive play. Podcast Conversation: Gelato Is Getting Weird and Not Everyone Is Happy About That See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Prime Minister Keir Starmer’s political problems have likely grown too big to solve with a single speech. For now, he will try to forestall an immediate challenge to his job. (2) President Donald Trump and Iran rejected each other’s latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a fragile ceasefire. (3) President Donald Trump is expected to press President Xi Jinping over China’s approach to Iran and hammer out details on a new board of trade when they meet this week in Beijing, senior US officials said Sunday, hours before China confirmed the state visit. (4) China’s factory prices grew at the fastest pace since the pandemic four years ago as the fallout from the Iran war sharply raises costs and leaves profits under pressure. (5) US allies in Europe anticipate that President Donald Trump will withdraw more forces from the continent after he announced he would pull 5,000 troops out of Germany, people familiar with the matter said. (6) Over the past year, Alphabet has gone from an artificial intelligence afterthought to the one firm in the market with dominant positions in nearly every aspect of the technology. (7) Two months of crisis in the Middle East show the conventional tactic of ditching emerging-market assets in times of market stress is no longer a sure-fire defensive play. Podcast Conversation: Gelato Is Getting Weird and Not Everyone Is Happy About That See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Keir Starmer is awaiting the results of one of the most consequential rounds of local elections in recent British history, a vote that could determine his future as prime minister and shape national policy in Europe’s second-largest economy. (2) The US struck military targets in Iran after the country fired on three Navy destroyers sailing in the Strait of Hormuz, an escalation that threatened to fracture a fragile ceasefire and reignite hostilities even as the two sides say they’re discussing an end to the war. (3) The European Central Bank will have to raise interest rates if the Iran war leaves a more lasting mark on inflation, according to Executive Board member Isabel Schnabel. (4) President Donald Trump’s 10% global tariffs were declared unlawful by a federal trade court in a fresh blow to the administration’s economic agenda, just months after the US Supreme Court vacated earlier levies he’d imposed. (5) President Donald Trump said he would give the European Union until July 4 to ratify its trade agreement with the US, after previously threatening to hike tariffs on auto imports as soon as this week if it failed to do so. (6) In some circles on Wall Street, the hottest debate isn’t about a tech-stock bubble or $100 oil as the new norm. It’s whether 30-year Treasury yields will mount a sustained push over 5%. Podcast Conversation: New Media Mourns the Old Media It Helped Destroy See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The US and Iran were circling around a fresh proposal to end the war on Wednesday, as President Donald Trump searches for an exit from a conflict that has elevated energy prices and damaged his political standing. (2) A maritime coalition led by France and the UK is ready to escort tankers through the Strait of Hormuz if Iran agrees to a US proposal to end the war, according to a French official. (3) The Israeli army carried out an attack in the southern suburbs of Beirut on Wednesday, the first in the vicinity of the Lebanese capital since a US-brokered ceasefire came into effect last month. (4) China’s financial regulator advised the country’s largest banks to temporarily suspend new loans to five refiners recently sanctioned by the US over their ties to Iranian oil, according to people familiar with the matter. (5) Figures next week are likely to paint a rosy picture for the UK economy in the first quarter. The trouble is that fewer and fewer people believe them. Podcast Conversation:AI Bots Auditioning for Wall Street Trading Are Mostly Losing See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said he would pause an effort to help stranded ships exit the Strait of Hormuz to see if the US can reach an agreement with Iran to end the war. (2) Anthropic unveiled a set of new artificial intelligence agents designed to handle a broader mix of financial services tasks, part of the company’s push to win over Wall Street. (3) UK long-term borrowing costs jumped to a 28-year high as worries intensified over local government elections and the impact of soaring energy prices on the economy. (4) Friedrich Merz took to the podium at the Chancellery in Berlin last week to announce the first installment of a comprehensive overhaul of Germany’s social system that he hopes will demonstrate his vision to move the country forward. (5) French President Emmanuel Macron nominated Emmanuel Moulin, one of his closest advisers, to run the Bank of France. (6) The European Union wants the main parts of a US trade deal adopted by July, as it pushed Washington to respect previous commitments made under the pact. Podcast Conversation: Why the Best Public Art Keeps Disappearing See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The US and Iran exchanged fire in a flareup of violence on Monday that also drew in the United Arab Emirates, prompting calls for renewed strikes on Iranian targets and casting doubt on the fate of a four-week ceasefire. (2) Stocks pulled back from record highs and the dollar strengthened after the US and Iran exchanged fire, escalating Middle East tensions and fueling inflation concerns. (3) European Union Economy Commissioner Valdis Dombrovskis warned of the stagflationary effect that the Iran war is creating for the bloc. (4) Some of the US’s closest allies including Canada and the UK are warning that the international system of security and trade championed by western powers for more than 70 years is broken beyond repair — and that it’s up to Europe to fashion a new global order. (5) HSBC Holdings Plc reported profit that missed estimates, weighed down by an unexpected UK fraud-related charge and rising economic risks stemming from the conflict in the Middle East. (6) Prime Minister Keir Starmer is due to host meetings to tackle antisemitism on Tuesday after two men were stabbed in north London last week in the latest attack targeting British Jews. (7) When Christine Lagarde addressed a central bank conference late last year, her frustration was clear: Europe had been debating a digital euro for years, but it was still nowhere close to being done. But with the first issuance of a digital central bank currency expected only in 2029, and delays still cropping up, so have fears that the bloc may have already fallen behind. Podcast Conversation: So When Does the Energy Price Shock Hit Europe? See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz starting Monday. (2) Concern about a possible euro-area recession is “real and justified” as conflict in the Middle East causes a supply-side disruption, European Central Bank Governing Council member Yannis Stournaras said in an interview with Phileleftheros. (3) President Donald Trump said he plans to cut the US military presence in Germany by more than the 5,000-troop drawdown announced so far, even as Republican allies and NATO countries questioned the move. (4) The UK is set to enter talks to join the European Union’s €90 billion ($105 billion) Ukraine loan plan, underlining what the British government describes as “growing defense ties” between London and Brussels. (5) A group of 13 Swiss lawmakers will meet in Bern on Monday to kickstart the legislative process that will shape the future of UBS. Podcast Conversation: There's Never Been This Much Pressure for Men to Look Good at 60 See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Oil held its second weekly gain as US President Donald Trump said he was sticking with a naval blockade of Iranian ports, elevating concerns the vital Strait of Hormuz would not reopen anytime soon. (2) As oil prices briefly came within reach of $130 a barrel, the mood music among central bankers in Frankfurt and London shifted in a more hawkish direction on Thursday. (3) UK Prime Minister Keir Starmer pledged to use the “full power of the state” to crack down on antisemitism, after a stabbing in north London raised fresh questions about the government’s attention to threats against Britain’s Jewish community. (4) Apple Inc. delivered a surprisingly strong revenue forecast for the third quarter, even as it warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” (5) Elon Musk’s first compensation figure after Tesla Inc. shareholders approved his moonshot pay package is in, and it’s a doozy: $158 billion. Podcast Conversation: Spotify Adds Verified Badge to Distinguish Real Artists From AI See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) A frenzied day of earnings reports offered a glimpse at how some of the world’s biggest tech companies are doing in artificial intelligence. The upshot: Alphabet Inc.’s Google is seeing a clear payoff from its AI spending, while Meta Platforms Inc. is lagging behind. (2) Brent oil rallied to a wartime high after Axios reported that US President Donald Trump is set to receive a briefing on new military options for action in Iran, signalling the potential for fresh escalation in the Middle East. (3) President Donald Trump said the US is reviewing its troop levels in Germany and will decide soon whether to reduce that number, escalating tensions with a top NATO ally over the war in Iran. (4) Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East. (5) The Bank of England is likely to keep interest rates on hold on Thursday as policymakers play for time amid the febrile standoff between the US and Iran. (6) Standard Chartered posted record first-quarter earnings that surged past analyst estimates, as record wealth inflows offset precautionary charges linked to escalating tensions in the Middle East. Podcast Conversation: Rolex, Cartier Court Gen Z Buyers With Shift to Smaller Watches See omnystudio.com/listener for privacy information.

An update to your morning briefing. All the news you need to start your day. On today's podcast: (1) European banks have reported a bumper set of earnings this morning, with profits beating expectations, but they're also warning of the future effects of the ongoing Hormuz blockade. (2) Oil prices remain firmly in triple digits this morning, as the US-Iran war enters its third month. (3) The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market. (4) The EU has accused social media giant Meta of failing to keep children off its services. Podcast Conversation: King Charles Is Doing an Impossible Job in America See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) US equity-index futures rose as investors positioned ahead of a raft of earnings from the largest technology companies in what has been a generally upbeat reporting season. Markets are also awaiting a Federal Reserve policy decision. (2) The US has warned banks they are at risk of secondary sanctions if they support Chinese private refiners that buy Iranian oil, cranking up pressure on Tehran even at the cost of further irking Beijing just weeks ahead of a leaders’ meeting. (3) The shock decision by the United Arab Emirates to quit OPEC blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market. (4) Traders in the Treasury options market are bracing for long-dated bond yields to surge past 5% as a rally in oil prices continues unabated. (5) UBS has posted $3 billion dollars in profit in the first three months of the year - smashing past expectations. (6) King Charles III called on the US to maintain its leadership role in the world, and to support Ukraine and the North Atlantic Treaty Organization, in a remarkably pointed speech for a monarch that urged Americans to resist the pull of isolationism. (7) The Netherlands is gearing up for a new tax on paper profits, sparking public and political opposition and opening another front in the international push to target the wealthy. Podcast Conversation: King Charles Is Doing an Impossible Job in America See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The White House said US officials were discussing Iran’s latest proposal but maintained “red lines” on any deal to end the eight-week war, including preventing Tehran from obtaining a nuclear weapon. (2) South Korea has leapfrogged the UK to become the world’s eighth-biggest stock market, fuelled by a high-octane rally in its artificial intelligence-linked technology champions. (3) US President Donald Trump welcomed King Charles III to the White House for a visit fraught with doubt about the future of Britain’s so-called special relationship with America and fresh security concerns in the wake of the shooting at the White House correspondents’ dinner. (4) Any hope that Keir Starmer had of putting aside the Peter Mandelson saga will have to wait as the British prime minister braces for another day of parliamentary inquiry into his disastrous appointment of Mandelson as ambassador to the US. (5) A California man is being charged with trying to kill US President Donald Trump during an attack on a Washington gala dinner over the weekend. Podcast Conversation: Madrid's Luxury Amenities Clash With the City's Laid-Back Vibe and Spain’s Largest Cities Diverge Paths to Tackle a Housing Crisis See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Iran has given the US a new proposal to reopen the Strait of Hormuz and end the war that includes postponing nuclear negotiations, Axios reported, citing a US official and two people with knowledge of the matter. (2) The man accused of storming the White House Correspondents’ Dinner spent years quietly acquiring his arsenal, purchasing a shotgun from a Torrance, California, firearms dealer eight months before the attack and a semi-automatic pistol two years earlier, according to a law enforcement intelligence profile reviewed by Bloomberg. (3) Senator Thom Tillis said he’s dropping his blockade of Kevin Warsh’s nomination to head the Federal Reserve, saying the Justice Department’s decision to end a criminal probe targeting Fed Chair Jerome Powell removed a threat to the central bank’s independence. (4) Policymakers in the US and across the Group of Seven will probably keep interest rates steady this week while watching nervously for signs of higher energy costs fanning inflation. (5) China’s commerce ministry criticized EU over its discriminatory measures on foreign investment in EVs, batteries, solar and critical raw materials by creating investment barriers, according to a government statement. (6) Germany sounded out European lenders to defend Commerzbank against UniCredit’s takeover bid earlier this year, according to people familiar with the matter. (7) To say the special relationship is going through a rough patch ahead of King Charles III’s visit would be an exercise in British understatement. Podcast Conversation: Adidas Gets Running Lift in London From Two Sub-2 Hour Marathons See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Oil rose for a fifth day as concerns grew that the US and Iran were making little progress toward resuming talks on de-escalation, keeping the Strait of Hormuz effectively closed. (2) President Donald Trump said Israel and Lebanon will extend their ceasefire by three weeks, a move that creates space to work on a long-term deal and removes a roadblock to ending the US war with Iran. (3) The European Union warned member states that efforts to strengthen safeguards in the bloc’s trade agreement with the US may cause the deal to unravel. (4) European Union leaders signaled that preliminary conditions are in place for Ukraine to begin the first stage of the membership process, a boost for Ukrainian President Volodymyr Zelenskiy’s efforts to join the bloc. (5) Meta Platforms Inc. and Microsoft Corp. are planning cuts or announcing buyouts that could affect as many as 23,000 jobs, part of an effort to streamline operations and offset heavy spending on artificial intelligence. Podcast Conversation: US Soldier Charged With Using Classified Data to Bet on Maduro See omnystudio.com/listener for privacy information.

On today's podcast: (1) Oil rose for a fourth day as the US and Iran remained locked in a battle for control of the Strait of Hormuz after failing to meet for a fresh round of peace talks. (2) Tesla anticipates billions of dollars in additional spending this year to support Elon Musk’s ambitions to transform the electric-vehicle pioneer into an AI and robotics company. (3) The Swiss government outlined plans that would add billions of dollars to UBS' capital requirements, deepening a showdown with the lender over its proposed banking reforms. (4) European Central Bank Chief Economist Philip Lane said there’s a logical fiscal case for the region’s nations to issue joint bonds, though such a move would need to be underpinned by trust. (5) UK workers were hit with the highest increase in tax rates on wages of any wealthy country last year, according to a new report, as the Labour government has come under pressure to lighten Britain’s tax burden. Podcast Conversation: AI Is Coming for Our Aging Parents: Catherine Thorbecke See omnystudio.com/listener for privacy information.