Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US President Donald Trump expects to announce economic deals totaling more than $10 billion during his trip this week to the United Kingdom, senior US officials said Monday. (2) Prime Minister Keir Starmer has suffered a third forced departure from his government in less than two weeks as one of his senior advisers resigned amid media allegations about his past conduct. (3) President Donald Trump said he would speak with Chinese leader Xi Jinping on Friday as US and Chinese officials reached a framework deal on keeping the TikTok app running in the US. (4) Donald Trump’s economic adviser Stephen Miran is on his way to joining the Federal Reserve board after the Senate confirmed him to the post in a vote Monday evening. (5) Overseas investors are slashing their dollar exposure at “an unprecedented pace” as they put on currency hedges when buying US stocks and bonds, according to a Deutsche Bank AG analysis of exchange-traded funds. (6) Wall Street’s main regulator said it is “prioritizing” a proposal from Donald Trump to reduce the frequency of corporate earnings reports, after the president again stepped into a long-running debate over transparency in American capitalism. (7) Top dealmakers from global investment banks have been heading to Zurich in recent weeks to pitch UBS Group AG on transactions that could change the face of Swiss finance. Podcast Conversation: Talking Gorillas, Podcasting Dogs and the Future of Social Media See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) China’s economic activity slowed more than expected across the board in August, adding to the likelihood that policymakers will roll out more stimulus to hit the official growth goal. (2) US and Chinese representatives discussed TikTok, trade and the economy during a day of high-level talks in Madrid, a senior Treasury official said, as diplomacy between the world’s two biggest economies intensifies. (3) The UK government defended its ill-fated decision to appoint Peter Mandelson as ambassador to Washington as pressure grows on Prime Minister Keir Starmer over his handling of the affair following the envoy’s ouster. (4) The first US interest rate cut since Donald Trump became president again is likely to seize the spotlight in a week that will determine policy settings for half of the world’s 10 most-traded currencies. (5) The Pope has singled out Elon Musk's wealth as part of a criticism of the widening pay gap between company bosses and the working class. Podcast Conversation: ‘The Pitt’ Wins Best Drama Emmy; ‘The Studio’ Scores Best Comedy See omnystudio.com/listener for privacy information.

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

The UK's Prime Minister is facing growing questions over what he knew about Peter Mandelson's relationship with Jeffery Epstein when he appointed him as Ambassador to the US. Keir Starmer fired him after Bloomberg published a series of emails between Mandelson and the convicted paedophile. The departure comes at a difficult time for the British government as it prepares to host a state visit for US President Donald Trump who continues to face questions about his relationship with Epstein. In this Special episode of the Daybreak Europe podcast our finance reporter Harry Wilson takes us behind the scenes of the Bloomberg scoop. He tells us what the emails reveal alongside our political correspondent Ellen Milligan who will be covering President Trump's upcoming State Visit. Hosted by Stephen Carroll and Caroline Hepker See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) When Peter Mandelson was appointed the UK’s ambassador to the US in February, many in the British government predicted it would end in a scandal. Mandelson, a political operator once known as the “Prince of Darkness” for his capacity for political intrigue and spin, was fired by Prime Minister Keir Starmer on Thursday after Bloomberg published a series of emails between Mandelson and convicted pedophile Jeffrey Epstein, which cast new light on their relationship. (2) The suspect in the killing of Charlie Kirk slipped behind a building, braced himself on the roof and swung off the edge, hitting the ground hard and leaving behind palm smudges and a single shoe print. He bolted across a patch of grass, cut through a parking lot and vanished into the trees. (3) NATO is preparing a defensive military measures in response to the drone incursion in Poland to strengthen deterrence across the alliance’s eastern flank, according to a person familiar with the matter. (4) OpenAI said it’s closer to converting into a more traditional for-profit company — nearing the resolution of painful negotiations with top shareholder Microsoft Corp. and outlining terms of at least $100 billion in equity for its nonprofit arm. (5) European Central Bank policymakers are convinced that no further interest-rate cuts are needed to deliver 2% inflation, despite new economic projections pointing to an undershoot over the next two years, according to people familiar with their thinking. Podcast Conversation: Photo-Editing Tools May Be AI’s Killer App: Catherine Thorbecke 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 search is underway for the killer of Charlie Kirk, a conservative activist and close ally of President Donald Trump who was fatally shot Wednesday at a Utah university. (2) Poland has asked allies for additional air defense systems and counter-drone technology to better protect its land from Russian incursions, according to people familiar with the matter. (3) The CEO of Citigroup Jane Fraser says she's surprised by the resilience of the US economy amid a constantly evolving macroeconomic landscape. Speaking to Bloomberg, she said businesses now have more clarity on tax policy, tariffs, and deregulation. (4) Mexico plans to impose tariffs of as much as 50% on cars and other products made by China and several Asian exporters, aligning the country more closely with US protectionism as President Claudia Sheinbaum prepares for talks over North America’s free-trade deal. (5) Sebastien Lecornu took over as France’s prime minister pledging big changes as he tries to engage opposition parties in the herculean task of reining in the country’s debt amid hostility to budget cuts. Podcast Conversation: Larry Ellison’s $89 Billion One-Day Wealth Boom Shatters Records 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’s attack against Hamas in Qatar drew rare public criticism from Donald Trump and underscored the risk that the war in Gaza could get worse before it gets better. (2) Poland condemned a Russian drone incursion as an “act of aggression,” saying its military shot down some of the objects that entered its airspace from neighboring Ukraine. (3) President Emmanuel Macron named Sebastien Lecornu France’s new prime minister, tapping a longtime ally to pick up the mantle of trying to pass a budget through a divided parliament. (4) President Donald Trump told European officials he’s willing to impose sweeping new tariffs on India and China to push President Vladimir Putin to the negotiating table with Ukraine — but only if EU nations do so as well. (5) A judge temporarily blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations of mortgage fraud. (6) Apple introduced its thinnest-ever iPhone and new Pro versions with enhanced cameras and more battery life, betting that a flurry of smartphone innovation can entice shoppers this holiday season See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) French Prime Minister Francois Bayrou lost a confidence motion in parliament, forcing a third change in government in just over a year and reviving uncertainty over how the country can tackle its mounting debt burden. (2) House Democrats on Monday released an alleged birthday note that they said Donald Trump sent to Jeffrey Epstein, raising pressure on the president over questions about his past interactions with the late disgraced financier. (3) US stocks have been on a tear, setting more than 20 all-time highs this year, but the Federal Reserve’s next move threatens to curb investors’ zeal, JPMorgan Chase & Co.’s trading desk warns. (4) Rupert Murdoch and his children settled litigation over a trust that controls two influential public companies, ensuring that Fox News keeps its conservative slant and favored son Lachlan Murdoch remains in charge of the globe-spanning media empire. (5) European car executives are walking a fine line at this week’s Munich auto show: Touting how swell their new electric vehicles are, while on the other hand warning Brussels that they can’t possibly sell only EVs in ten years’ time. (6) Barclays' Chief Executive Officer CS Venkatakrishnan said a windfall tax on banks in the UK could hinder the government’s push to boost growth in the economy and urged the government to consider other measures. Podcast Conversation: Londoners Flock to E-Bikes, Boats as Tube Strike Chaos Hits See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Prime Minister Francois Bayrou’s government will likely fall Monday, a victim of his push to chip away at France’s massive debt load. (2) Japanese Prime Minister Shigeru Ishiba said he’ll step down following weeks of calls for his departure in the aftermath of a second national election setback, setting in motion a leadership race that threatens to unnerve investors. (3) The immigration raid on a Georgia EV battery plant run by two South Korean firms has rattled Seoul, coming less than two weeks after President Lee Jae Myung’s White House meeting with Donald Trump where Korean companies pledged to invest hundreds of billions in the US. (4) OPEC+ is signaling it has the confidence to push a bold oil market strategy a little bit further. (5) Wages for new hires in the UK rose at their weakest pace in over four years, a sign that a cooling labor market is weighing on inflationary pressures, according to a survey monitored by the Bank of England. (6) Walkouts by London Underground staff have begun, forcing several main lines on the network to completely or partially shut down on Sunday ahead of the start of the work week. Podcast Conversation: Consumer Product Scents Are Getting Stronger: Essay See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. --------------------------------------------------------------- - Stuart Paul, US Economist with Bloomberg Economics, to preview CPI and PPI data. - Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, to preview Apple’s September 9th event. - Ros Mathieson, Bloomberg Chief Asia Correspondent, on global defence industry gathering in London for the UK's flagship sector event. - Tony Halpin, Russian Government and Economy Team Leader, on global defence industry gathering in London for the UK's flagship sector event. - Mary Nicola, Bloomberg MLIV Strategist in Singapore, discusses China August CPI and PPI data. - Kevin Sneader, APAC ex-Japan President at Goldman Sachs, discusses China’s stock rally. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Broadcom is helping OpenAI design and produce an artificial intelligence accelerator from 2026, getting into a lucrative sphere dominated by Nvidia. (2) President Donald Trump said he would be imposing tariffs on semiconductor imports “very shortly” but spare goods from companies like Apple that have pledged to boost their US investments. (3) Bond and currency traders are bracing for Friday’s US employment report, which stands to solidify views on Federal Reserve policy and determine the near-term trajectory of interest rates. (4) French Prime Minister Francois Bayrou said he doesn’t regret calling a confidence vote putting his government on the line, as France is “burdened with debt” and the political parties must “each take responsibility.” (5) UK Prime Minister Keir Starmer said he would “act on” the outcome of an independent investigation into his deputy Angela Rayner’s tax affairs, signaling he would fire her if the inquiry found she had breached rules governing ministers’ behavior. (6) Giorgio Armani fought for decades to keep the fashion empire he founded independent, as Italian icons like Gucci and Fendi were snapped up by larger luxury chains. It will be his heirs who decide what the future will hold. Podcast Conversation: $40,000 Vacations Inspire Finance Pros to Become Travel Agents See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) UK Deputy Prime Minister Angela Rayner admitted she underpaid taxes on a property purchase and said she was referring herself to the government’s standards watchdog, the latest blow for Keir Starmer’s Labour administration that calls her political future into question and may have long-standing consequences for the party’s leadership. (2) Chancellor of the Exchequer Rachel Reeves says growth is the solution to Britain’s economic problems. At her budget on Nov. 26, she faces the prospect of having to kill it. (3) Ukrainian President Volodymyr Zelenskiy will meet with European leaders in Paris on Thursday as he seeks to discuss security guarantees for his country, a person familiar with the matter told Bloomberg. (4) US economic activity saw “little or no change” across most of the country in recent weeks, the Federal Reserve said in its Beige Book survey of regional business contacts. (5) China’s financial regulators are considering a number of cooling measures for the stock market as they grow concerned about the speed of a $1.2 trillion rally since the start of August, people familiar with the matter said. (6) Apple is planning to launch its own artificial intelligence-powered web search tool next year, stepping up competition with OpenAI and Perplexity AI. Podcast Conversation: Xi Muses on Living to 150 in Hot-Mic Moment With Putin, Kim See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Treasuries dropped, following a slump in longer-maturity European debt, with the US 30-year yield climbing toward 5% at the start of a month historically tough for long bonds. (2) UK markets suffered a fresh selloff on Tuesday, with the yield on long-dated bonds hitting the highest since 1998 and the pound tumbling, as pressure mounted on Prime Minister Keir Starmer to win the confidence of investors in the government’s budget. (3) US Treasury Secretary Scott Bessent is said to be planning to start interviewing candidates this Friday to replace Jerome Powell as Federal Reserve Chair, according to the Wall Street Journal. (4) Chinese President Xi Jinping projected defiance at a once-a-decade military parade, showcasing the nation’s growing firepower and diplomatic influence alongside his closest international allies. (5) Alphabet’s Google will be required to share online search data with rivals while avoiding harsher penalties, including the forced sale of its Chrome business, a judge ruled in the biggest US antitrust case in almost three decades. (6) As NATO’s biggest defense spender relative to the size of its rapidly expanding economy and a staunch ally of Ukraine, Europe arguably needs a strong Poland more than ever. But instead, there’s the threat of increasing paralysis in Warsaw. Podcast Conversation: Defense Firms Lure Recruits With Yoga, Higher Pay, Even Condoms See omnystudio.com/listener for privacy information.

As UK long-dated gilts hit a level not seen in 27 years, we have a special episode of Bloomberg Daybreak Europe. The rate on 30-year gilts rose five basis points to 5.69% on Tuesday amid a global decline in government bonds. The pound also tumbled in London trading, dropping 1.1%. Bonds are falling ahead of an autumn budget, where Chancellor of the Exchequer Rachel Reeves is under pressure to find savings or raise taxes to improve the UK’s precarious fiscal position. Our Chief UK Economist Dan Hanson and Opinion Columnist Marcus Ashworth join hosts Stephen Carroll and Lizzy Burden to discuss how serious a problem the market moves create for the government and what might come next. More Here: UK 30-Year Bond Yields Climb to Highest Level Since 1998 See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Gold hit a record high as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multiyear rally in precious metals. (2) Nestlé dismissed Chief Executive Officer Laurent Freixe after only a year due to an undisclosed workplace affair, extending the management turmoil at the world’s biggest food company that’s known for its conservative corporate culture. (3) Revolut has kicked off a process for some employees to sell their shares in the company at a $75 billion valuation. (4) A plane carrying European Commission President Ursula von der Leyen was disrupted by what authorities suspect was Russian signals interference in Bulgaria. (5) UK Prime Minister Keir Starmer announced a raft of changes to his Downing Street team in a bid to reset his government and give him more influence over economic policy, after a stuttering first year in power saw his leadership called into question and Labour tank in the polls. (6) Across Botswana the lines of patients outside government clinics are lengthening, construction companies dependent on state jobs are firing workers and university students are threatening to boycott lectures after not getting the allowance increases they were promised. Podcast Conversation: Silicon Valley Drive to Get AI Into American Schools Is Working See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Prime Minister Narendra Modi used his first trip to China in seven years to reset relations with India’s powerful neighbor while also seeking to strengthen ties with Russia as President Donald Trump ratchets up tensions with New Delhi. (2) The legal fight over President Donald Trump’s global tariffs is deepening after a federal appeals court ruled the levies were issued illegally under an emergency law, extending the chaos in global trade. (3) The next few weeks will give Wall Street a clear reading on whether this latest stock market rally will continue — or if it’s doomed to get derailed. (4) Italy and France sparred over tax competition within the European Union, reigniting a debate over whether EU countries are seeking economic advantages at the expense of their peers. (5) The UK government will look into whether it should seek changes to the European Convention on Human Rights, as the ruling Labour party seeks to blunt criticism of its handling of immigration and asylum issues. (6) There’s a near €2 trillion ($2.3 trillion) upheaval coming for European bond markets to cap a 2025 already marked by tariff twists and turns, deficit worries and now a political crisis in France. Podcast Conversation: Chefs Turn to Induction for Safety and Precision Our new look Brussels Edition newsletter launches today. Sign up here for all the stories you need to know from across the European Union - every afternoon. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby 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, the business news you need in just 15 minutes On today's podcast: (1) German Chancellor Friedrich Merz says a meeting between Ukrainian President Volodymyr Zelenskiy and Russia’s Vladimir Putin is unlikely to materialize, even though it was touted earlier by President Donald Trump. (2) European powers referred Iran to the United Nations to face the re-imposition of tough international sanctions after the Islamic Republic failed to comply with demands to negotiate with the US and allow nuclear inspectors to resume their work. (3) Federal Reserve Governor Christopher Waller again called for lower interest rates, saying he would support a quarter-percentage point reduction in September and anticipates additional cuts over the next three to six months. (4) A solid economic reading drove stocks to fresh all-time highs, but Wall Street traders refrained from making big moves before inflation data that could bring more clues on the pace of Federal Reserve rate cuts. Short-dated Treasury yields rose. The dollar fell. (5) Lobbyists are lining up to attend Reform UK’s annual conference next week in a sign corporate Britain is increasingly taking Nigel Farage’s outfit seriously as an electoral force. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes On today's podcast: (1) German Chancellor Friedrich Merz says a meeting between Ukrainian President Volodymyr Zelenskiy and Russia’s Vladimir Putin is unlikely to materialize, even though it was touted earlier by President Donald Trump. (2) European powers referred Iran to the United Nations to face the re-imposition of tough international sanctions after the Islamic Republic failed to comply with demands to negotiate with the US and allow nuclear inspectors to resume their work. (3) Federal Reserve Governor Christopher Waller again called for lower interest rates, saying he would support a quarter-percentage point reduction in September and anticipates additional cuts over the next three to six months. (4) A solid economic reading drove stocks to fresh all-time highs, but Wall Street traders refrained from making big moves before inflation data that could bring more clues on the pace of Federal Reserve rate cuts. Short-dated Treasury yields rose. The dollar fell. (5) Lobbyists are lining up to attend Reform UK’s annual conference next week in a sign corporate Britain is increasingly taking Nigel Farage’s outfit seriously as an electoral force. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Nvidia, the world’s most valuable company, gave a tepid revenue forecast for the current period, signaling that growth is decelerating after a staggering two-year boom in artificial intelligence spending. (2) Francois Bayrou said he will negotiate directly with lawmakers next week and warned against new elections as he battles to stop France’s parliament from forcing him to resign. (3) NATO members are on track to spend more than $1.5 trillion on defense in 2025, according to the alliance’s latest estimates, as they build up their militaries amid geopolitical tensions and pressure from the US. (4) The Mexican government plans to increase tariffs on China as part of its 2026 budget proposal next month, protecting the nation’s businesses from cheap imports and satisfying a longstanding demand of US President Donald Trump. (5) Two children were killed and 17 people injured after a gunman dressed in black fired dozens of rounds through the windows of a Minneapolis Catholic church holding a Mass for elementary school students. (6) Europe’s new-car market rose the most in 15 months in July, as consumers shrugged off concerns over the global economy to splash out on fully electric and hybrid models. Podcast Conversation: Netflix Missed a Moment With ‘KPop Demon Hunters’ See omnystudio.com/listener for privacy information.