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 WasteSee 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 CommissionPodcast Conversation: What Teens Need From Parents in the Age of AISee 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.

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 U.S CPI, PPI, and Retail sales data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to the annual Cannes film festival. In Asia – a look ahead to US Treasury Secretary Scott Bessent's Trip to Japan.  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 DestroySee 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 LosingSee 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 AISee 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 WatchesSee 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 AmericaSee 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 AmericaSee omnystudio.com/listener for privacy information.