Bloomberg Daybreak: Europe Edition

Your morning briefing. All the news you need to start your day.On today's podcast:(1) Andy Burnham appears set to become the UK’s seventh prime minister in a decade after Keir Starmer laid out a timeline for his own departure and potential rivals backed a quick transition to the popular Manchester politician.(2) Starmer entered Downing Street less than two years ago, as the US president headed toward a second term. And he will leave later this summer as yet another short-lived British prime minister who failed to come to terms with the world Trump forged.(3) SpaceX shares slipped for a third straight day, shedding hundreds of billions of dollars in market value, after the Elon Musk-led company said it is selling investment-grade bonds for the first time, part of what’s expected to be a massive borrowing spree to fund its artificial-intelligence ambitions.(4) The US issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal.(5) The German and French governments are set to hold equal stakes in KNDS NV, one of Europe’s most important defense companies, as it gears up for an initial public offering in the near future.Podcast Conversation:How Bosses Psych Themselves Up for Their Biggest MomentsSee omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day.On today's podcast:(1) Iran is set to receive broad financial incentives as part of its agreement with the US, including the right to sell oil immediately, tap a $300 billion development fund and get eventual access to its frozen assets, according to a final draft of the deal.(2) European Central Bank officials are signaling that a US-Iran peace accord won’t necessarily stop them lifting interest rates further, even if it prevents a more pronounced overshoot in inflation.(3) Federal Reserve policymakers are expected to hold interest rates steady on Wednesday, posing an early test for new chairman Kevin Warsh as rising inflation erodes households’ purchasing power and President Donald Trump continues to press for lower borrowing costs.(4) SpaceX jumped for a third straight day on Tuesday, overtaking Amazon.com in value to become the fifth-largest stock in the world.(5) HSBC said it will use Alphabet’s Google Cloud to roll out artificial intelligence across its global operations, including through projects that can each generate more than $100 million in extra revenue or savings.(6) When Rupert Lowe was ejected from Reform UK in early 2025 over alleged bullying and threatening behavior, party leader Nigel Farage thought he was cutting loose a liability. Instead, he created one of a different kind.Podcast Conversation: Sam Altman’s Career Coach Teaches AI Bosses ‘Emotional Clarity'See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day.On today's podcast:(1) SpaceX has made history with the biggest-ever IPO, sending it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world’s first trillionaire.(2) Shadow markets are pricing a blockbuster SpaceX stock debut, indicating a pop of at least 35% for Elon Musk’s rocket, satellite and AI company.(3) President Donald Trump pulled back threatened military strikes against Iran, a stark reversal that came just hours after he vowed to hit the Islamic Republic “VERY HARD” and threatened to seize its oil infrastructure.(4) Defense Secretary John Healey quit the UK government after a months-long spending row with the Treasury came to a head, in a move that dramatically dents Prime Minister Keir Starmer’s authority just as rivals are lining up to challenge for his job.(5) European Central Bank Governing Council member Primoz Dolenc said Thursday’s interest-rate increase was necessary to keep prices in check while officials consider the broader implications of conflict in the Middle East.(6) For nearly two weeks now, protesters have gathered daily in Albania’s capital Tirana demanding that Jared Kushner abandon his luxury hotel projects in the country. What started as anger against the plans by Donald Trump’s son-in-law, has morphed into a movement against the Balkan nation’s political establishment nicknamed the “Flamingo Revolution".Is Kushner’s Balkan Island Dream Doomed?: Eastern Europe EditionPodcast Conversation: The Hottest Gen-Z Tech Trend? Anti-AI: Catherine Thorbecke{NSN TGHGWFKGZAKU <GO>}See omnystudio.com/listener for privacy information.📰 You listen every morning. Help us keep going.⚡ [One click makes the difference] ⚡

Your morning briefing. All the news you need to start your day.On today's podcast:(1) Europe is shaking itself awake. Ten years after Brexit, the European Union is finally, fitfully advancing fundamental changes meant to preserve its wealth and influence.(2) The US military launched strikes against “multiple” targets in Iran for the second straight day after President Donald Trump accused the country of dragging out talks on an interim peace deal.(3) Protestors have clashed with police in Belfast overnight, as UK politicians blame extremists online and Elon Musk for promoting unrest.(4) Microsoft co-founder Bill Gates told a House panel investigating the late financier Jeffrey Epstein that his meetings with the sex offender were “a grave error in judgment.”(5) OpenAI said a group of ChatGPT accounts with ties to China have sought to stir up local opposition to data centers in the US in a potential bid to hinder the country’s competitiveness in artificial intelligence, echoing recent rhetoric from others in the tech industry.Podcast Conversation: Brides Are Hiring Witches to Save Their $100,000 Wedding DaysSee omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day.On today's podcast:(1) A selloff in global bonds extended as the deadlock over the Iran war drove oil prices higher, fueling inflation concerns and raising bets that central banks will need to keep tightening policy.(2) Oil prices above $100 a barrel, with US-Iran ceasefire talks stalled and trade through the Strait of Hormuz heavily disrupted, continue to stoke global inflation pressures(3) Oil rose for a third day as President Donald Trump again pressured Iran to come to a deal to end weeks of war and reopen the crucial Strait of Hormuz.(4) China’s growth slowed across the board in April with investment resuming declines, as booming exports no longer offset a deteriorating economy at home.(5) The thorny question of whether Britain should unwind a decade of estrangement from the European Union is resurfacing as the Labour Party starts to imagine a future beyond Prime Minister Keir Starmer.(6) A British dealmaking boom has London’s M&A advisers on track for their best year in more than a decade, standing in contrast to investor fears over the country’s latest political crisis.Podcast Conversation: Swatch Shops Shut as Audemars Piguet Collaboration Causes MayhemSee omnystudio.com/listener for privacy information.📰 You listen every morning. Help us keep going.⚡ [One click makes the difference] ⚡

Your morning briefing. All the news you need to start your day.On today's podcast:(1) Xi Jinping warned Donald Trump of a potential conflict over Taiwan if the issue is mismanaged, saying it could push the China-US relationship into a highly dangerous situation.(2) Angela Rayner, the UK’s former deputy prime minister, has been cleared of deliberate wrongdoing in an investigation into her tax affairs, potentially paving the way for a leadership bid against Prime Minister Keir Starmer.(3) European Union leaders must show courage in strengthening the bloc’s foundations, according to European Central Bank President Christine Lagarde. “Europe now finds itself in a world that is far less forgiving of the gaps in its institutional architecture,” she said Wednesday in Aachen, Germany. “Institutions that were built for an earlier age are being tested by demands they were not fully designed to meet.”(4) The US Senate narrowly confirmed Kevin Warsh as chair of the Federal Reserve, setting up the most controversial leadership transition at the US central bank in decades and a test of its political independence.(5) More UK estate agents have reported falling house prices in April as the war in Iran and elevated borrowing costs hit buyer confidence, according to a closely watched survey.(6) Back in the 2000s, the market for pension risk transfers was an eat-what-you-kill industry, and pickings were slim. Nearly two decades on, PRTs are a much easier sell and there are £1.3 trillion of assets to fight for. Podcast Conversation: Stressed? Overscheduled? There’s More Time in the Day Than You ThinkSee 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 ThatSee omnystudio.com/listener for privacy information.📰 You listen every morning. Help us keep going.⚡ [One click makes the difference] ⚡

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 DisappearingSee 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) A fresh plan announced by US President Donald Trump to help vessels through the Strait of Hormuz has left shipping executives perplexed, as attacks continue and traffic remains at a near standstill.(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 Swiss lawmakers are meeting to discuss the future of UBS Group AG and a proposed bill that could impose additional capital requirements on the bank's Swiss unit. Podcast Conversation: There's Never Been This Much Pressure for Men to Look Good at 60See 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. In the US – a look ahead to the April jobs report in the U.S and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the UK’s Midterm local elections. In Asia – a look ahead to the next RBA Decision. See omnystudio.com/listener for privacy information.