Bloomberg Daybreak: Europe Edition

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 1998See 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 WorkingSee 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. In the US – a look ahead to the August jobs report and earnings from Salesforce In the UK – a look at the future of Europe's banking industry In Asia – a look at how China is stepping up the technology battle with the US See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutesOn 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.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) President Donald Trump said he was prepared for a legal fight with Federal Reserve Governor Lisa Cook after he moved to oust her from her post following allegations that she falsified mortgage documents.(2) France’s bond yields could spike to 100 basis points above their German peers for the first time since 2012 if the nation’s political crisis deepens, according to Carmignac.(3) UK long bond yields soared to within a whisker of a 27-year high Tuesday, piling pressure on Prime Minister Keir Starmer’s government to rein in its fiscal stance.(4)Nigel Farage vowed to expel tens of thousands of asylum-seekers from the UK, tapping a policy deployed in the US by President Donald Trump as he seeks to guide his populist Reform party to power at the next general election.(5) President Donald Trump imposed a crushing 50% tariff on some Indian goods — the highest in Asia — to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi.  (6) SpaceX’s Starship rocket launched to space and deployed satellites for the first time before surviving most of its journey to Earth, achieving new technological milestones after a year of fiery setbacks.Podcast Conversation: Taylor Swift Turns Her Engagement Into Another Media CoupSee 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 moved to oust Federal Reserve Governor Lisa Cook from her post at the US central bank in the wake of allegations from a White House ally that she falsified documents on mortgage applications.(2) US President Donald Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes that hit American technology companies.(3) Prime Minister Francois Bayrou called a confidence vote that may topple France’s government as soon as next month, prompting a selloff in French assets as investors hedged for more political uncertainty.(4) Britons looking for their first jobs face the worst hiring drought since the depths of the Covid pandemic, as the rise in artificial intelligence and higher employment costs distort career opportunities.(5) UK grocery prices edged up in August, as bad weather and poor harvests exacerbated the strain of higher operating costs hitting supermarkets.(6) Elon Musk accused Apple Inc. and OpenAI in a lawsuit of unfairly favoring the artificial intelligence company across iPhones and thwarting competition for other chatbot makers.Podcast Conversation: Labubus Go for Up to $150,000 Fueled by Blackpink, Brad PittSee 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. In the US – a look ahead to personal spending data and earnings from Nvidia. In the UK – a look at the upcoming Medef Conference. In Asia – a look at the next Bank of Korea decision and the HK IPO market.  See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Warnings on defaults are starting to pile up in the $1.7 trillion private credit market, prompting at least some analysts to raise concern about underappreciated risks in one of Wall Street’s favorite money spinners. (2) Bond investors are heading into Friday’s much-anticipated Jerome Powell speech largely expecting the Federal Reserve chair will indicate policymakers will start cutting interest rates next month.  (3) Nvidia has instructed component suppliers including Samsung Electronics Co. and Amkor Technology Inc. to stop production related to the H20 AI chip, The Information reported, citing unidentified sources. (4) The US and European Union took the next steps to formalize their trade pact, detailing plans that could reduce tariffs on European automobiles within weeks while opening the door to new potential discounts for steel and aluminum. (5) The UK is bolstering its air defense capabilities with a new contract for missile systems, as European military planners work to map out a post-peace plan for Ukraine that could see its skies protected by western allies.  (6) UK consumers are the most optimistic they’ve been about their household budgets in 12 months, according to a closely watched survey, a sign Britons are starting to feel the benefits of the Bank of England’s interest rate cuts.Podcast Conversation: AI Slurs Are Just the Start of the BacklashSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank, defying calls for her resignation by President Donald Trump over allegations of mortgage fraud. (2) Most Federal Reserve officials highlighted inflation risks as outweighing concerns over the labor market at their meeting last month, as tariffs fueled a growing divide within the central bank’s rate-setting committee. (3) The NASDAQ declined for the second straight day yesterday, with MAG 7 stocks on their longest losing streak since April. Futures are currently pointing higher for the tech-heavy index, but this week's dip has raised questions if the rally in the sector has gone too far, too fast. (4) UK Chancellor of the Exchequer Rachel Reeves is considering taxing high-value family homes at the point of sale as she looks for ways to plug a multibillion-pound hole in the upcoming budget. (5) European leaders are discussing a security guarantee for Ukraine that would commit Kyiv’s allies to decide within 24 hours whether to provide military support to the country if it’s again attacked by Russia. (6) A UK ban on disposable vapes is failing to stop users treating refillable devices as if they are still throwaway products, new research shows.Podcast Conversation: ‘Kill Bill’ Kicks Turn Soft Power to Hard ProfitSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Global stocks paused after a record-breaking run, with a sharp selloff in heavyweight technology shares dragging markets lower and futures indicating further declines. (2) President Donald Trump has bought hundreds of bonds since he returned to office, including those sold by US companies affected by the sweeping changes to federal policies he’s championed. (3) A package of security guarantees for Ukraine will take shape as soon as this week as leaders seize on President Donald Trump’s backing for a plan that involves sending European troops as part of a potential peace deal.  (4) Thousands of firefighters worked overnight to contain dozens of deadly wildfires burning across Spain and Portugal as heat and gusty winds spread blazes through dry brush, forests and crops. (5) When a company abruptly ditches its CEO, the costs of the shakeup can quickly add up. Bloomberg News consulted with compensation consultants, academics, corporate lawyers, executive-search advisors and public-relations experts on the true cost of firing your CEO. (6) Overtourism and climate change have created a dangerous feedback loop that endangers Southern Europe’s tourism industry.Podcast Conversation: Why We Love Succession Dramas About Billionaire Family BusinessSee 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 called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. (2) The Trump administration is in discussions to take a stake of about 10% in Intel Corp., according to a White House official and other people familiar with the matter, a move that could see the US become the beleaguered chipmaker’s largest shareholder. (3) The yield on long-dated inflation-linked bonds surpassed the highs seen during the gilt-market meltdown three years ago, the latest unwanted market milestone for the UK government.  (4) The Treasury is examining the possibility of replacing stamp duty and introducing a new tax on the sale of UK homes worth more than £500,000 ($676,000), according to the Guardian. (5) Apple will no longer be forced to provide a so-called backdoor to American users’ data to the UK government, US Director of National Intelligence Tulsi Gabbard said in a post on X on Monday. (6) In 2022, Saudi Arabia announced one of its most ambitious endeavours to date: a sprawling ski resort in the heart of the dry Middle Eastern desert. It’s becoming one of the most difficult tests yet of the kingdom’s ability to pull off Crown Prince Mohammed bin Salman’s grand ambitions. Podcast Conversation: Rich Londoners Balk at Hearing ‘No’ in Efforts to Install ACsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Ukrainian President Volodymyr Zelenskiy and his European allies arrive in Washington on Monday anxious to find out what Donald Trump committed to at his summit with Vladimir Putin and apprehensive that he’ll force Kyiv into making unpalatable concessions. (2) UK Prime Minister Keir Starmer declared at a Jaguar Land Rover factory in May that his world-leading trade deal with President Donald Trump included a cut in US tariffs on British steel to zero. (3) Israel’s economy slumped in the second quarter as the country’s 12-day war with Iran imposed a total shutdown on many businesses. (4) Annual pay for bosses of FTSE 100 companies hit a record high for the third consecutive year. (5) In 1981, the year Airbus SE announced it would build a new single-aisle jetliner to take on Boeing  the 737 ruled the roost.  (6) Advanced Credit Solutions is a tiny finance firm based in Luxembourg that was founded by a Belgian and works with insurers. Despite its outwardly bland appearance, the business it does is anything but. Podcast Conversation: Chinese Robotic Stocks May Rise After Unitree Wins Gold in Games  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. In the US – a look ahead to housing data and retail earnings. In the UK – a look at challenges facing European banking consolidation ahead of an upcoming shareholder vote in Italy. In Asia – a look at Japan CPI, PMI, and trade. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Russian President Vladimir Putin sought to strengthen his rapport with Donald Trump ahead of their summit, praising the US leader’s efforts to broker an end to the war in Ukraine and dangling the promise of economic cooperation as well as a new arms control treaty. (2) The Trump administration is in talks with Intel to have the US government take a stake in the beleaguered chipmaker, according to people familiar with the plan, in the latest sign of the White House’s willingness to blur the lines between state and industry. (3) London is bearing the brunt of the UK’s jobs slowdown as a combination of tax rises, elevated wage costs and weak consumer spending force the city’s business to cut payrolls faster than in the rest of the country. (4) US and Canadian banks are summoning staffers back to their offices at a faster rate than European rivals, widening the divide in one of finance’s defining workplace debates. (5) A battle for talent among Europe’s top football teams is igniting a debt market using the players’ transfer fees as collateral. Podcast Conversation: Bag Charms Selling for $1,000 Are Retail's Next Little LuxurySee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) US Treasuries held onto gains after traders boosted bets that the Federal Reserve will cut interest rates at its next meeting. (2) President Donald Trump said he may name the next Federal Reserve chair “a little bit early” and added that he was down to three or four potential candidates as he looks for a successor to Jerome Powell. (3) US President Donald Trump warned he would impose “very severe consequences” if Vladimir Putin didn’t agree to a ceasefire agreement later this week, following a call with European leaders ahead of his meeting with the Russian president.  (4) Apple is plotting its artificial intelligence comeback with an ambitious slate of new devices, including robots, a lifelike version of Siri, a smart speaker with a display and home-security cameras. (5) Short sellers are betting against Greggs Plc at levels not seen since the global financial crisis, as the UK bakery chain struggles to convince investors that opening more shops will boost lackluster sales.  (6) Bloomberg reports into how Tisza, an upstart Hungarian political movement, is making surprising gains against Viktor Orban's grip on the country's politics. Podcast Conversation: Even Babies Are Welcome at the Spa at These Ultra Luxury ResortsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Stocks climbed to a record as an in-line US inflation reading eased price concerns and bolstered bets on a Federal Reserve interest-rate cut in September. (2) President Donald Trump assailed Goldman Sachs Group Inc. Chief Executive Officer David Solomon, saying the bank made a “bad prediction” about the impact of Trump’s sweeping tariff agenda on markets and consumer costs. (3)  Britain’s embattled statistics organization is facing more real-terms cuts to its core funding despite concerns that financial pressures were one of the main factors behind a crisis in the country’s economic data. (4) Chancellor Friedrich Merz’s CDU/CSU bloc again slipped behind the far-right Alternative for Germany party in a voter poll, while the German leader’s personal approval rating sank to the lowest level since he took office three months ago (5) Three years ago, Castleton Commodities International analysts huddled in their London office to discuss how to make money from a growing phenomenon in the European power market — negative prices.Podcast Conversation: The One Trick to Make Amazing Cocktails From Any Hotel MinibarSee omnystudio.com/listener for privacy information.

On today's podcast:(1) President Donald Trump extended a pause of sky-high tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world’s two largest economies.(2) EJ Antoni, chief economist of the conservative Heritage Foundation, has been named to lead the Bureau of Labor Statistics after firing the former head of the agency earlier this month.(3) The US Treasury secretary has the ear of an impulsive president—and nervous investors worldwide hope it stays that way. An exclusive interview.(4) President Donald Trump downplayed expectations for his upcoming meeting with Russian leader Vladimir Putin as he seeks to end the war in Ukraine, casting it as a “feel-out meeting” and saying he would confer with Ukrainian and European leaders after the sitdown.(5) President Donald Trump announced he would take federal control of Washington DC’s police department and deploy 800 National Guard troops there, escalating his push to exert power over the nation’s capital.(6) The Oasis comeback tour looks set to add to a resurgence of inflation in the UK, complicating an already tricky situation that has divided the Bank of England.Podcast Conversation: TikTok Trends Are Driving Random Consumer Spending SpikesSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Nvidia and Advanced Micro Devices agreed to pay 15% of their revenues from Chinese AI chip sales to the US government in a deal to secure export licenses, an unusual arrangement that may unnerve both US companies and Beijing. (2) European nations are seeking to talk to Donald Trump ahead of the US president’s planned meeting in Alaska with Russian leader Vladimir Putin, according to people familiar with the matter. (3) Israeli Prime Minister Benjamin Netanyahu defended his plan for a military sweep against the final Hamas strongholds in Gaza, calling it the best available option for recovering hostages while safeguarding his country’s long-term security — an argument that’s met vocal opposition at home and abroad.  (4) It was a “trailblazing” project - and for the two small pension funds that helped finance it, a chance to prop up the retirement savings of dentists and pharmacists in rural northern Germany. We look at Germany's biggest property crash since the financial crisis. (5) The UK jobs market weakened across the board in July as employers cut their payroll budgets in response to Chancellor of the Exchequer Rachel Reeves’ £26 billion ($34.9 billion) tax increase, according to a survey closely monitored by the Bank of England.  (6) European Central Bank officials will wait until December to deliver their next interest-rate cut in what is likely to be the final move in the cycle, a Bloomberg survey showed.Podcast Conversation: Teach Your Kids Poker the Easy WaySee omnystudio.com/listener for privacy information.