Bloomberg Daybreak: Europe Edition

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz. (2) US President Donald Trump called on other nations to wrest control of the Strait of Hormuz as Iran maintained missile fire across the Persian Gulf, expressing his frustration that the monthlong war remains unresolved. (3) Europe is expected to have enough jet fuel to avoid shortages in April, according to people directly involved in the aviation fuel market. But that situation could change in May, as the conflict in the Middle East continues to rock global energy markets. (4) Christine Lagarde used an audience of high-level Group of Seven officials to challenge Treasury Secretary Scott Bessent’s optimism that the Iran war’s economic fallout will be short-lived, according to people familiar with the matter. (5) UK Prime Minister Keir Starmer sought to draw attention to how his government is helping Britons with the rising cost of living, even as he faces growing pressure to announce further support because of the economic effects of the Iran crisis. (6) OpenAI has completed a deal to raise $122 billion from investors at an $852 billion valuation, marking the company’s largest funding round to date by far and bolstering its costly push for more chips, data centers and talent. (7) American astronauts last set foot on the moon in 1972. More than half a century later, NASA is preparing to take a big step toward returning. Podcast Conversation: King Charles to Go Ahead With US Visit Despite Trump Spat See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Oil fluctuated after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the military campaign in Iran even if the vital Strait of Hormuz remains largely closed. (2) An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai early on Tuesday in one of the most significant attacks on a vessel in a month of war, pushing oil prices higher and heightening tension around the vital Strait of Hormuz. (3) Iran is pushing the Houthis to prepare for a renewed campaign against Red Sea shipping, contingent upon any further escalation by the US in its war on the Islamic Republic, according to European officials familiar with the matter. (4) Secretary of State Marco Rubio said the US may need to reassess its relationship with NATO after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing.” (5) China’s factory activity expanded for the first time this year despite higher energy prices and disruptions caused by the escalating conflict in the Middle East. (6) UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets. (7) Russia’s main security agency is expanding its sweeping surveillance powers, deepening the state’s reach into economic and social life to suppress any risk of dissent to President Vladimir Putin. See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating. (2) Attacks in the Middle East conflict extended into a fifth week Sunday, with Israel striking Tehran and Saudi Arabia intercepting almost a dozen drones, a day after Yemen-based Houthi militants entered the war. (3) Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears the widening conflict will cause further chaos for energy markets. (4) UK Chancellor of the Exchequer Rachel Reeves will urge Group of Seven partners to boost domestic energy supplies and warn the recent surge in oil and gas prices is playing into Vladimir Putin’s hands. (5) French authorities detained two new suspects in connection with a foiled bombing near the Bank of America office in Paris, which officials have said is likely linked to the conflict in the Middle East. (6) Once a global hub for entry-level jobs, London is now the epicenter of a growing youth joblessness crisis that is threatening to blight the futures of hundreds of thousands of people and fuel a backlash against Prime Minister Keir Starmer’s Labour government in key municipal elections in just over a month. Podcast Conversation: America Is Depleting a Bigger Weapon Than Missiles: Max Hastings See 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. See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump again pushed back his deadline for Iran to strike a deal with the US or face more attacks, saying talks with the country were going “very well.” Sources have told the Wall Street Journal that the US is considering sending up to 10,000 additional ground troops to the Middle East. (2) UK Prime Minister Keir Starmer suggested he won’t be bullied by Donald Trump in a further demonstration of how the US president’s war on Iran has frayed the so-called special relationship between their two countries. (3) Britons are saving more and cutting back on big-ticket items in an effort to ride out the economic fallout from the Iran conflict, according to a closely watched survey. (4) European Central Bank President Christine Lagarde warned of complacency in assessing the fallout of the conflict in the Middle East, according to an interview with The Economist. (5) Bond traders, spooked by the prospect of the conflict in Iran escalating further, are looking to hedge against worst-case war outcomes that could force the Federal Reserve to raise interest rates in coming weeks. (6) Consumers are responding to one of the largest disruptions in global oil markets by embracing low-carbon technologies that promise to lower gas and power bills. For many, the conflicts in Iran and Ukraine have driven home a harsh reality: the only path to energy security is going electric. (7) London urgently needs more housing. The city’s population has increased by over half a million in the decade through 2023, bringing it to around nine million, yet homebuilding has fallen dramatically. Bloomberg's Damian Shepherd explains why. Podcast Conversation: Amazon Offers Drivers Prizes to Say Why They Love Their Job See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The White House insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. (2) Even as Donald Trump pushes for talks to end the war against Iran, the US has ordered thousands of troops to the region, fueling fears that the president is gearing up for exactly the sort of risky ground invasion that he once campaigned against. (3) Bloomberg's strategic energy team, BNEF, says the price of Brent crude could top $154 a barrel if the Strait of Hormuz remains closed until mid-June. (4) The Italian government is set to cut its economic growth forecast, reflecting a hit from the war in the Persian Gulf. (5) The threat of surging inflation has knocked UK consumer confidence to the lowest level recorded under Keir Starmer’s Labour government. (6) A landmark jury verdict holding Meta Platforms and Alphabet’s Google liable for harming a young user with products designed to be addictive threatens to put the social networking companies in the same category as Big Tobacco and opioid makers — a potential crack in their shield from legal responsibility for what happens on their platforms. (7) Slovakia became the world’s biggest per capita car producer along with the Czech Republic because of demand from auto companies for cheaper, skilled labor. Now war is turning the tiny nation into a critical ammunition powerhouse. Podcast Conversation: The ‘Don Tzu’ Solution to Ending the Iran War See 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 has drafted a 15-point plan intended to help bring the war with Iran to a close, according to people familiar with the matter, highlighting the intensifying urgency within the Trump administration to resolve the conflict as the economic toll mounts. (2) The Trump administration has ordered the 82nd Airborne Division to deploy about 2,000 soldiers to the Middle East, a person familiar with the matter said, as the White House weighs options to ease Iran’s chokehold on the Strait of Hormuz. (3) Iran said foreign ships are allowed to cross the Strait of Hormuz, as long as they aren’t supporting acts of aggression against the country and follow regulations put in place by Tehran. (4) The Kremlin is earning the most from its oil exports since just after the 2022 invasion of Ukraine as it cashes in on the war in the Middle East, boosting crude flows amid soaring prices and eased sanctions. (5) Danish Prime Minister Mette Frederiksen’s party won a closely contested election by pledging stability in global turmoil, setting the stage for difficult coalition talks to secure a third term in power. (6) Italian Premier Giorgia Meloni called on Tourism Minister Daniela Santanche to resign as she attempts to clean house after a defeat in a key referendum this week, in a sign of growing turmoil within her government. (7) The trading hub Yiwu provides a small glimpse of the existential threat a prolonged war may pose to China. A collapse of global demand will dent the economy’s only bright spot — exports that the government has counted on to help meet its annual growth targets. Podcast Conversation: NASA to Spend $20 Billion on Moon Base, Create Mars Craft See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Oil resumed gains — paring a steep drop from Monday — on concern that other nations may be drawn into the Middle East war. (2) Donald Trump’s decision to back down from his threat to destroy Iran’s power infrastructure came after US allies and Gulf countries privately warned the president of the dangers of following through with his threat, according to people familiar with the matter. (3) The supply shockwaves from the US and Israel’s war in Iran are spreading across the global economy, raising concerns about an inflation hit to companies and consumers that will require policymakers to raise borrowing costs. (4) UK prime minister Keir Starmer said he is looking at wider measures to support Britain’s economy through the Iran crisis as he prepares to chair an emergency meeting on the economic impact of the conflict. (5) The European Union and Australia agreed to a free-trade deal, wrapping up almost a decade of talks as the two sides push to tighten ties and reinvigorate a rules-based order that’s under assault from the Trump administration. Podcast Conversation: Trump’s Wild, 5-Minute Rally Sends Clear Message to Wall Street 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 selloff in stocks, gold and bonds deepened as the US and Iran hardened their rhetoric and signaled a potential escalation to their conflict, which is entering its fourth week. (2) US President Donald Trump gave Iran a two-day deadline to reopen the Strait of Hormuz or have its power plants bombed, upping the ante in a war now in its fourth week with no sign of de-escalation. (3) UK Prime Minister Keir Starmer will hold an emergency meeting with his top ministers and Bank of England Governor Andrew Bailey on the Iran crisis on Monday, as the clock ticks on President Donald Trump’s two-day deadline to open the Strait of Hormuz. (4) Chancellor Friedrich Merz’s party dislodged the Social Democrats from power after 35 years in a southwestern German state, notching a win for a conservative leader struggling to gain nationwide traction among voters. (5) Socialist Emmanuel Gregoire was on course to win the race for Paris mayor on Sunday, extending the left’s quarter-century hold on the French capital. Podcast Conversation: Why the Great Unraveling Will Be So Hard to Stop: Clive Crook See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Alexis Christoforous 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. All the news you need to start your day. On today's podcast: (1) Oil dropped from its highest close since July 2022, as the leaders of the US and Israel sought to reassure investors rattled by damage to major Persian Gulf energy facilities. (2) Iran’s latest attack on Qatar, which severely damaged the world’s largest liquefied natural gas export facility, will cost the country’s state energy company about $20 billion of lost revenue. (3) The European Union is bracing for a protracted energy price shock after Iran crippled a vital Qatar gas plant, raising the prospect of a years-long supply crunch. (4) European Central Bank policymakers would be ready to raise interest rates as soon as their next meeting should fallout from the war in Iran push inflation too far above target, according to people familiar with the situation. (5) The Bank of England said it “stands ready to act” against a surge in inflation triggered by war in the Middle East, prompting traders to ramp up bets on an interest-rate hike as soon as next month. Podcast Conversation: Traders Overwhelmed by Iran News Are Turning to AI for Help See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) European natural gas prices surged after Iranian missile strikes caused damage to the world’s largest liquefied natural gas export plant, stoking concerns about prolonged tightness in global supplies. (2) A Qatari complex housing the world’s largest liquefied natural gas export plant suffered “extensive damage” amid a sharp escalation of attacks on energy facilities across the Persian Gulf. (3) President Donald Trump pressed for a de-escalation of attacks on Middle East energy assets after Iranian and Israeli strikes on major gas hubs jolted global markets. (4) Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East. (5) The Bank of Japan kept its policy rate unchanged as uncertainty surrounding the Middle East conflict clouds the economic outlook, while also pledging to raise borrowing costs if its price forecast materializes. (6) The Bank of England may respond more aggressively than expected to soaring energy prices since war broke out in the Middle East because its internal models assume a large and long-lasting impact on inflation. (7) UK unemployment held steady and employers hired more staff in early signs that the labor market may be stabilizing ahead of the Bank of England’s interest-rate decision later today. Podcast Conversation: Iran’s Hormuz Blockade Leaves Stranded Crews Braving Missiles and Signal Jamming 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 Qatari complex housing the world’s largest liquefied natural gas export plant suffered “extensive damage” amid a sharp escalation of attacks on energy facilities across the Persian Gulf. (2) President Donald Trump pressed for a de-escalation of attacks on Middle East energy assets after Iranian and Israeli strikes on major gas hubs jolted global markets. (3) Spy chief Tulsi Gabbard dodged questions about the severity of the threat posed by Iran in Senate testimony on Wednesday, with the long-time skeptic of foreign interventions careful not to contradict either her own past beliefs or the Trump administration’s stance on the conflict. (4) Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East. (5) The Bank of Japan kept its policy rate unchanged as uncertainty surrounding the Middle East conflict clouds the economic outlook, while also pledging to raise borrowing costs if its price forecast materializes. (6) The Bank of England may respond more aggressively than expected to soaring energy prices since war broke out in the Middle East because its internal models assume a large and long-lasting impact on inflation. (7) HSBC is weighing deep job cuts over the coming years as Chief Executive Officer Georges Elhedery bets on AI to shrink its middle and back offices, one of the first signs of how the technology could reshape Wall Street workforces. Podcast Conversation: Iran’s Hormuz Blockade Leaves Stranded Crews Braving Missiles and Signal Jamming See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) US President Donald Trump abandoned his effort to recruit partners for the war with Iran and scolded allies who openly rejected his appeals, even as he repeated claims the conflict would end soon. (2) Europe is learning how to say “no” to Donald Trump over his war in Iran. Nearly three weeks into the expanding conflict, European leaders have stopped equivocating and started outright telling the US president they won’t help his campaign with Israel. (3) Israel’s killing of Ali Larijani, a veteran Iranian politician known for his pragmatism and long experience helming national security, leaves the Islamic Republic’s wartime leadership largely in the hands of hardliners who may be less likely to seek a diplomatic pathway out of the war. (4) Oil dropped as Iraq signed a deal to resume exports via Turkey that avoid the Strait of Hormuz, and as the US stepped up efforts to force the reopening of the key waterway. (5) Artificial intelligence won’t necessarily lead to job cuts in Europe and may benefit companies in the region, according to Bundesbank President Joachim Nagel. (6) Chancellor of the Exchequer Rachel Reeves said she is drawing up plans to give regional leaders in the UK control of some national tax revenues as part of her push to raise economic growth across Britain. Podcast Conversation: Why a $1,000 Jacket Puts Designer Todd Snyder at the Sweet Spot See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Iran stepped up attacks on energy infrastructure around the Persian Gulf and set a massive gas field ablaze, adding more pressure to an increasingly fraught global fuel supply situation. (2) President Donald Trump reiterated his appeals for other nations to help secure the Strait of Hormuz, saying Iran was nearly obliterated even as the war keeps roiling oil markets and global shipping. (3) President Donald Trump requested a delay to his summit with Chinese leader Xi Jinping for about a month, saying it was important for him to remain in Washington to oversee the Iran war. (4) European natural gas prices will be a whopping 40% higher than previously projected for 2026 and will stay elevated through 2027 as the Iran war and closure of the Strait of Hormuz set off a supply shortfall, according to a report from HSBC. (5) Default rates in direct lending will climb to 8% as advances in artificial intelligence continue to disrupt the software industry, according to Morgan Stanley. (6) Nvidia Chief Executive Officer Jensen Huang, addressing crowds at the company’s biggest annual event, unveiled a variety of new products while predicting that its flagship AI processors would help generate $1 trillion in sales through 2027. Podcast Conversation: Ireland Woos Trump in St. Patrick’s Day Charm Offensive See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) US President Donald Trump said he is “demanding” that other countries contribute to the defense of the Strait of Hormuz as it remains effectively closed to oil tankers. (2) As the US-Israeli war on Iran enters its third week, pressure is growing on the person in the best position to end it: Donald Trump. (3) About 750 miles (1,200 kilometers) from Tehran, high in the Turkish mountains, lies NATO’s frontline of defense against a Middle East at war. (4) The Iran war threatens to deal significant blows to the Gulf’s biggest economies, including Saudi Arabia, the United Arab Emirates and Qatar, if it doesn’t end soon. (5) The UK government is preparing targeted support to help lower-income households with soaring energy bills as oil prices, fueled by the Iran war, exceed $100 a barrel. (6) Socialist candidate Emmanuel Gregoire topped the first round of the Paris mayoral election Sunday as the left seeks to extend its quarter-century rule over the French capital. Podcast Conversation: ‘One Battle After Another’ Wins Oscar for Best Picture See omnystudio.com/listener for privacy information.

We’re sharing something a little different in the Daybreak Europe feed today, the the latest episode of Here’s Why hosted by Stephen Carroll. While Daybreak Europe brings you the essential news each morning, Here’s Why takes one major global story each week and explores the deeper context behind it. In this episode, Stephen is joined by Becca Wasser, Defense Lead at Bloomberg Economics, to examine the Iran war as it shifts into a more sustained military campaign. As strikes continue across the region, they discuss weapons supply, defensive capacity and what the pace of operations could mean for how the conflict unfolds. If you want more episodes search for Here’s Why and subscribe wherever you get your podcasts. New episodes are released every week. See 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. See 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 has issued its second authorization for buyers to take Russian oil cargoes already at sea, widening a temporary waiver given last week to India alone in an effort to ease pressure on prices as the war in the Middle East continues. (2) Brent oil traded near $100 a barrel following one of the most volatile trading weeks ever, with investors bracing for more upheaval as Iran pledged to keep the Strait of Hormuz effectively shut. (3) The number of Iranian missile launchers has held steady after a week of unrelenting airstrikes, according to Israeli and western estimates, indicating the difficulty of finding small, mobile targets without having complete control of the skies. (4) A KC-135 refueling plane that was part of the American military campaign against Iran crashed over western Iraq after an incident involving another plane, US Central Command said Thursday night. (5) The basic assumptions that have underpinned hedging strategies for decades are coming undone by the escalating war in Iran. Podcast Conversation: America’s Decade-Long AI War Efforts Get a Trial by Fire in Iran See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Brent jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs to cope with the impacts of the conflict. (2) President Donald Trump said the massive release of emergency oil reserves approved by the International Energy Agency would ease energy price pressures while the US seeks to “finish the job” in its campaign against Iran. (3) Goldman Sachs and Citigroup have told staffers in Dubai to stay away from their offices as Iran’s attacks on Gulf cities continue. (4) The European Union warned that its inflation rate could surpass 3% this year if the war in the Middle East causes Brent oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period. (5) President Donald Trump’s administration started the first of several sweeping trade investigations that set the stage for new tariffs, the centerpiece of a push to replace levies struck down by the US Supreme Court. (6) Prime Minister Keir Starmer appointed Peter Mandelson as US ambassador despite an official vetting process that warned his ties to disgraced financier Jeffrey Epstein entailed “reputational risks.” Podcast Conversation: Netflix is making a big investment in AI See omnystudio.com/listener for privacy information.