Bloomberg Daybreak: Europe Edition

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.