Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump met with his national security team in Washington for more than an hour on Tuesday to discuss the escalating Middle East conflict, according to people familiar with the matter, fueling fresh speculation that the US is on the verge of joining Israel’s attack on Iran. (2) US President Donald Trump has a wide range of military assets in the Middle East and across the globe to bring to bear in a potential fight against Iran as he weighs one of the most momentous foreign policy decisions of his administration. (3) The top US bank regulators plan to reduce a key capital buffer by up to 1.5 percentage points for the biggest lenders after concerns that it constrained their trading in the $29 trillion Treasuries market. (4) The UK is looking to restrict the number of visas it gives to countries which refuse to sign returns agreements with Britain, Prime Minister Keir Starmer said, as his government pursues more assertive measures to reduce levels of net migration. (5) OpenAI Chief Executive Officer Sam Altman said Meta Platforms Inc. has offered his employees signing bonuses as high as $100 million, with even larger annual compensation packages, as it seeks to build a top artificial intelligence team. Podcast Conversation: At Art Basel, Dealers Reap Rewards By Avoiding Politics and War See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump is set to depart the Group of Seven leaders’ summit in Canada a day early, after warning residents of Tehran to evacuate the city as Israel continued to bombard Iran in a bid to disable its nuclear program. (2) President Donald Trump’s hasty exit from the Group of Seven conference in Canada deepened questions about his promise to bring peace to an increasingly violent world and added fresh evidence of his skepticism toward the institutions that have long underpinned US diplomacy. (3) Oil jumped after US President Donald Trump called for the evacuation of Tehran, before paring gains, as the market remained on edge about an escalation in the conflict with Israel that could disrupt crude supply. (4) Prime Minister Keir Starmer reached an agreement with US President Donald Trump to implement trading terms disclosed last month to slash US tariffs on key British exports and raise UK quotas on certain American agricultural products. (5) US President Donald Trump and Japanese Prime Minister Shigeru Ishiba failed to reach an agreement on a trade package on the sidelines of the Group of Seven summit, an outcome that leaves the Asian nation inching closer to a possible recession as the pain of US tariffs hits its economy. (6) The Bank of Japan left its benchmark rate unchanged and unveiled a plan to slow its withdrawal from the bond market from next year in a sign of caution following heightened market volatility. (7) A damning report into group-based child sexual exploitation in England and Wales has found that the ethnicity of people involved in grooming gangs has been "shied away" from -- and not recorded in two-thirds of cases. Podcast Conversation: Ken Griffin on Trump, Harvard and Why Novice Investors Can’t Win See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Open hostilities between Israel and Iran entered a fourth day on Monday with no sign of easing, stoking fears of a wider war in the oil-rich region. (2) Oil-watchers are bracing for a further price rally after Israeli strikes on Iranian energy assets heightened the risk to Middle East supplies. (3) President Donald Trump said he believed it’s possible Israel and Iran could reach an agreement to end their conflict, though the two sides may need to continue fighting before they’re ready to broker a peace deal. (4) The UK government is trying to walk a tightrope on relations with Israel, expressing support for its military action against Iran while also criticizing the war in Gaza. (5) The UK will seek to restart trade negotiations with Canada, Prime Minister Keir Starmer said, as he strives to strengthen commercial ties around the world to better insulate Britain’s economy from the fallout of US President Donald Trump’s tariff war. (6) The UK appointed the first woman to lead its secret intelligence service MI6 as Prime Minster Keir Starmer warned of the increasing threats Britain faces from its adversaries. Podcast Conversation: Iran’s Leaders Face a Reckoning as Israeli Strikes Intensify See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes 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, the business news you need in just 15 minutes. On today's podcast: (1) Israel launched waves of airstrikes against Iran’s nuclear program and ballistic-missile sites on Friday morning, a major escalation in the standoff between the two adversaries that risks sparking a wider war in the Middle East. (2) Explosions were heard across Tehran and in the city of Natanz, home to one of its nuclear sites, according to videos and local media. (3) US President Donald Trump says Iran cannot have a nuclear bomb, Fox News journalist Bret Baier reports, citing an interview with him after Israel launches strikes against Iran. The strikes came just hours after Trump had suggested to reporters the US still believed in the prospects for a diplomatic solution. (4) Oil surged as much as 13% after Israel carried out waves of military strikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production. (5) Stocks fell along with equity-index futures and investors rushed to the safety of haven assets after Israel attacked Iran’s nuclear program sites in a major escalation of tensions in the Middle East. Crude oil jumped 9%, the biggest move in more than three years. (6) Investigators have started combing the wreckage of Air India flight AI171 as they seek to determine what caused the Boeing Co. Dreamliner to crash shortly after takeoff Thursday afternoon, killing all but one of the 242 people aboard in the deadliest aviation accident in more than a decade. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) As the pace of wealthy individuals leaving London quickens, the numbers are starting to stack up: Labour’s flagship “tax the rich” policy risks becoming a net drain on the UK economy. (2) Rachel Reeves will pump billions of pounds into areas outside London as the Labour government tries to head off an electoral threat posed by Nigel Farage’s Reform UK. (3) President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties on dozens of economies. (4) The US ordered some staff to depart its embassy in Baghdad and authorized families of military service members to leave the region, officials said, after Iran threatened to strike American bases if it’s attacked over its nuclear program. (5) The Pentagon has launched a review of the Biden-era Aukus pact to develop nuclear-powered submarines with Australia and the UK, as the Trump administration looks to shift the burden for collective defense to allies and make sure the US has enough warships of its own. (6) Northern Ireland has seen a third night of clashes between rioters and police, in violence that's been described by officials as racially motivated. Podcast Conversation: Five French Countryside Escapes That Pair Perfectly with Paris See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Chancellor of the Exchequer Rachel Reeves will defend her fiscal choices and trumpet billions of pounds of infrastructure investment in the UK spending review on Wednesday, as Keir Starmer’s government seeks to regain momentum after a faltering first year in power. (2) The US and China agreed to a preliminary plan to ease trade tensions, which could revive the flow of sensitive goods between the world’s two largest economies. (3) Donald Trump can continue to enforce his global tariffs for now, a federal appeals court held in a win for the president on one of his signature economic policies. (4) European Central Bank Governing Council member Yannis Stournaras said the US’s unpredictable behavior on tariffs is undermining the dollar’s status as the global reserve currency and is an opportunity for the euro, according to an interview in Handelsblatt. (5) Secretary of State Marco Rubio rebuked five allies over sanctions they imposed on two members of Israel’s cabinet as fissures between the US and its partners widen over the war in Gaza and the treatment of Palestinians. (6) Curfew area will be about one square mile in downtown, and runs from 8pm to 6am, Los Angeles mayor Karen Bass says at a press conference. Podcast Conversation: Sony’s Bet on Sports Pays Off With AI Line Judges at Wimbledon See omnystudio.com/listener for privacy information.

On today's podcast: (1) UK employment plunged by the most in five years and wage growth slowed more than forecast, as the labor market deteriorated after Chancellor of the Exchequer Rachel Reeves ramped up the cost of hiring. (2) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials. (3) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. (4) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings. (5) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity. Podcast Conversation: Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest Hotels See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials. (2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements. (3) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings. (4) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity. (5) Apple introduced a number of AI-powered features during the company’s Worldwide Developers Conference on Monday, even as long-awaited enhancements to its Siri voice assistant remain far off. (6) Barclays is preparing to cut more than 200 jobs in its investment bank in the coming days as part of Chief Executive Officer C.S. Venkatakrishnan’s plan to boost the profitability of the division. Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest Hotels See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order. (2) The US and China are set to resume trade negotiations in London on Monday in a bid to further defuse tensions over rare-earth minerals and advanced technology following a phone call between leaders Donald Trump and Xi Jinping last week. (3) Keir Starmer will make an appearance alongside Nvidia Corp co-founder Jensen Huang on Monday, as the British prime minister puts technology and artificial intelligence at the heart of his government’s plan to boost economic growth. (4) The UK’s finance industry kept its lead over the rest of Europe in attracting foreign investment last year, although activity across the region slowed, according to professional services firm EY. (5) European Central Bank Executive Board member Isabel Schnabel sees a favorable moment now to strengthen the euro’s global role as investors turn to Europe. Podcast Conversation: Monograms Wield Power in an Age of Resale and Superfakes: Essay See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes 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, the business news you need in just 15 minutes. On today's podcast: (1) Differences between US President Donald Trump and Elon Musk exploded Thursday into an all-out public feud. (2) Tesla’s shares sank as Elon Musk and President Donald Trump’s simmering feud devolved into a public war of words between two of the world’s most powerful people. (3) US President Donald Trump and Chinese President Xi Jinping on Thursday agreed to further trade talks aimed at resolving disputes over tariffs and supplies of rare earth minerals at the heart of tensions between the world’s two largest economies. (4) German Chancellor Friedrich Merz successfully navigated a 40-minute meeting with Donald Trump in the Oval Office without falling victim to the public humiliation the American president has doled out to other leaders — even though both Germany and Europe are two of Trump’s perpetual irritants. (5) Christine Lagarde just unveiled an outlook that may be as good it gets for the euro zone. (6) Zia Yusuf resigned as chairman of Reform UK after 11 months in the job, delivering a blow to its leader, Nigel Farage, who has promised to build and professionalize the insurgent party in a quest for power at the next general election. Podcast Conversation: A Mega Fun Run Becomes a Finance Bro Blood Sport See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump signed a proclamation that bans individuals from 12 countries from entering the US, reinstating one of the most controversial measures from his first term after an attack in Colorado that targeted an event supporting Israeli hostages. (2) Elon Musk is on a mission to block President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, according to a person familiar with the matter. (3) Donald Trump on Wednesday broadcast Vladimir Putin’s warning that he’ll retaliate against Ukraine for its recent stunning drone strikes deep inside Russian territory, the clearest signal yet that the US president’s peace efforts have stalled. (4) Some of the world’s biggest banks are pushing UK regulators to accelerate plans to ease rules around deferred bonuses so the new regime can be applied to payouts for 2025, according to people familiar with the matter. (5) The Trump administration’s attack on US diversity, equity and inclusion policies is reverberating across the Atlantic, with corporations abandoning sponsorships of Britain’s Pride festivals, threatening key funding for events this summer. Podcast Conversation: Deliveroo Launches Drone Food Delivery Service in Dublin See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump has raised steel and aluminum tariffs to 50% from 25%, following through on a pledge to boost US import taxes to help domestic manufacturers. (2) Chinese Foreign Minister Wang Yi used his first meeting with new US Ambassador David Perdue to complain about recent actions by Washington, underscoring a downturn in relations between the world’s two biggest economies. (3) Donald Trump ally Elon Musk lambasted the president’s signature tax bill as a budget-busting “abomination” as Republican fiscal hawks stepped up criticism of the massive fiscal package. (4) Volkswagen AG said about 20,000 employees will voluntarily leave the company by the end of the decade as the carmaker restructures its German operations to cope with uneven demand for its vehicles. (5) Britain’s ammunition production begins life in the ancestral town of George Washington. Hundreds of technicians and robots work around the clock to manufacture the empty shells that are then filled with explosives and fired from a range of artillery systems. Podcast Conversation: Taylor Swift’s Catalog Win Is a Masterclass in Business See omnystudio.com/listener for privacy information.

As fighting in Ukraine drags on and Donald Trump demands that Europe take greater responsibility for its own security, the UK is confronting the hard reality of rebuilding its military strength. The challenge lies in overcoming years of underinvestment, failed contracts, and recruitment struggles. While European allies are pledging billions of euros to boost domestic defense manufacturing, the UK is scrambling to catch up in an industry it once dominated. In this special podcast, Daybreak Europe host Caroline Hepker speaks with CEOs and industry experts, along with our Political Correspondent Ellen Milligan and Bloomberg’s Chief UK Economist Dan Hanson, to assess whether Britain has what it takes to realize its ambition of once again becoming a major military power. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Donald Trump’s combative trade policies have tipped the world economy into a downturn, with the US among the hardest hit, the OECD said. The Paris-based organization slashed its global forecasts for the second time this year, citing the impact of the American president’s tariff onslaught. (2) US President Donald Trump is eager to land more trade deals, but talks with China and Europe continue to languish amid communications breakdowns and fresh tariff threats. (3) Far-right lawmaker Geert Wilders pulled his Freedom Party out of the Netherlands’ ruling coalition, causing the government to collapse and triggering a snap election. (4) Thames Water’s preferred bidder KKR has pulled out of a rescue deal in a major setback for the utility. The US alternative asset manager “will not be in a position to proceed, and its preferred partner status has now lapsed,” Thames said in a statement Tuesday. (5) Private credit firms enjoy a “significant” capital advantage over traditional banks that’s unlikely to disappear, according to Bill Winters, chief executive officer of Standard Chartered Podcast Conversation: Musk’s Chatbot Can Be ‘Non-Woke’ or Truthful, Not Both: Dave Lee See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US President Donald Trump is eager to land more trade deals, but talks with China and Europe continue to languish amid communications breakdowns and fresh tariff threats. (2) Treasuries began June on the back foot with 30-year bond yields testing the 5% level as concerns over President Donald Trump’s tariff policies resurfaced at the start of a data-heavy week for assessing the health of the world’s largest economy. (3) French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni will look to patch up difficult relations during a bilateral meeting in Rome on Tuesday, as Europe grapples with the seismic geopolitical shifts caused by the Trump administration. (4) Russia and Ukraine wrapped up a second round of talks in Istanbul that failed to bring the two sides closer to ending the war, but laid the groundwork for a new exchange of prisoners. (5) The UK envisages taking an enhanced role in NATO’s nuclear deterrence amid doubts surrounding the US commitment to the alliance, as Prime Minister Keir Starmer pledges to make Britain “war-ready” to counter Russian aggression in Europe. (6) Immigration minister Seema Malhotra said it is still too soon to know whether the government’s plans to make it harder for migrants to claim settlement in the UK will apply retroactively to those already in the country, potentially extending the wait for millions who arrived in the country since the pandemic. Podcast Conversation: Musk’s Chatbot Can Be ‘Non-Woke’ or Truthful, Not Both: Dave Lee See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Ukraine staged a dramatic series of strikes across Russia, deploying drones hidden in trucks deep inside the country to hit strategic airfields as far away as eastern Siberia. (2) The UK will create an “always on” munitions production capacity to allow it to scale-up its defense industry when needed, as it increasingly shifts to a war footing with Russia’s assault on Ukraine showing little sign of ending. (3) A nationalist candidate backed by Donald Trump won Poland’s presidential election, defeating the centrist mayor of Warsaw in a blow to the country’s pro-European Union government. (4) Six people were injured in an attack on an event in Boulder, Colorado, held in support of Israeli hostages, police and FBI officials said, sparking renewed concern about threats of antisemitic violence in the US. The FBI says the suspect was heard to yell 'Free Palestine' while using a makeshift flamethrower. (5) China accused the US of violating their recent trade deal and vowed to take measures to defend its interests, dimming the prospect of an immediate leadership call that Donald Trump wants to have to further bilateral talks. (6) The dollar will tumble to levels last seen during the Covid-19 pandemic by the middle of next year, hit by interest rate cuts and slowing growth, according to predictions by Morgan Stanley. Podcast Conversation: Jesse Armstrong: ‘I’m Interested in the Power, Not the Money’ See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes 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, the business news you need in just 15 minutes. On today's podcast: (1) A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, giving at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order. (2) US Treasury Secretary Scott Bessent said trade talks with China are “a bit stalled,” and that a call between President Donald Trump and his counterpart Xi Jinping may be needed for the world’s two largest economies to reach a deal. (3) President Donald Trump pushed Federal Reserve Chair Jerome Powell to lower interest rates at their first in-person meeting since the president’s inauguration, the White House said. (4) Buried deep in the more than 1,000-page tax-and-spending bill that President Donald Trump is muscling through Congress is an obscure tax measure - section 899 - that's setting off alarms on Wall Street and beyond. (5) The US economic outlook remains stronger than Europe despite sweeping policy uncertainty causing ripples across the economy, according to Citigroup Inc. Chief Executive Officer Jane Fraser. (6) Bank of England Governor Andrew Bailey has urged the government to strike a deeper trade deal with the European Union to improve growth and “minimize negative effects” of Brexit. Podcast Conversation: Why Wall Street Interns Are Safe From AI: Marc Rubinstein See omnystudio.com/listener for privacy information.