Bloomberg Daybreak: Europe Edition

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.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The International Energy Agency has proposed the largest ever release of oil reserves, according to the Wall Street Journal, as governments seek to contain a spike in energy prices driven by the Middle East war. (2) President Donald Trump warned Iran against laying mines in the Strait of Hormuz and threatened to blow up any ship attempting to do so, underscoring his determination to get oil flowing through the vital waterway after almost two weeks of war.President Donald Trump warned Iran against laying mines in the Strait of Hormuz and threatened to blow up any ship attempting to do so, underscoring his determination to get oil flowing through the vital waterway after almost two weeks of war. (3) Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran. (4) The European Central Bank will ensure the war in Iran doesn’t inflict the same inflation pain on the euro zone as Russia’s invasion of Ukraine did, according to President Christine Lagarde. (5) The cost of meeting net zero is less than a single fossil fuel price shock, the UK’s official climate adviser said. (6) According to a stinging barb from Donald Trump, Britons are being led by a Prime Minister who is no Winston Churchill. Soon they will have to cope without the popular wartime leader on their banknotes too. (7) Some of the world’s biggest hedge funds known for their steady returns suffered hundreds of millions of dollars in losses last week after the war against Iran triggered wild market moves and hit portfolios across the industry. Podcast Conversation: Travel Problems Aren't Just Centered on Dubai 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 he would waive oil-related sanctions, have the US Navy escort tankers through the Strait of Hormuz and predicted on Monday that the war with Iran would resolve “very soon” as he confronted mounting economic and political pressure and days of dramatic fluctuations in oil markets. (2) Oil tumbled after US President Donald Trump said the Iran war will end soon, as he faces mounting pressure over the conflict that’s upended global energy markets and sparked concerns about an inflation crisis. (3) Russian President Vladimir Putin and his US counterpart Donald Trump discussed Iran in their first phone talk this year. (4) Until last month, airlines couldn’t get new aircraft fast enough, with both Airbus and Boeing struggling to keep up with surging demand. The 11-day war in Iran has upended that outlook (5) The Bank of England faces the prospect of UK inflation rebounding to as high as 5%, with traders ramping up bets on a reversal of recent cuts to interest rates. Podcast Conversation: Enough Cool Heads Are Pulling Back From the Brink 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 soared above $100 a barrel as more major Middle East producers curbed production, the Strait of Hormuz remained all but closed, and the US threatened to deepen a conflict that has upended energy markets. (2) Equities tumbled and a global bond selloff deepened as crude oil surged above $100 a barrel for the first time since 2022, with the US-Israeli war against Iran showing no sign of easing and both sides appearing set to prolong the conflict. The dollar rose. (3) Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Donald Trump called $100 oil a “small price to pay,” with neither side showing any sign of deescalating a war now entering its 10th day. (4) President Donald Trump is weighing the option of deploying special forces on the ground to seize Iran’s near-bomb-grade uranium, as officials grow increasingly concerned the stockpile may have been moved, according to three diplomatic officials briefed on the matter. (5) UK Prime Minister Keir Starmer raised the prospect of intervening to help households with soaring energy bills as oil prices hit $100-a-barrel for the first time since 2022, with little sign that the war in Iran is nearing resolution. (6) Chancellor Friedrich Merz suffered a setback when his conservatives lost a regional election to the Greens, a stinging blow for the unpopular German leader compounded by a jump in support for the far right. 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) A barrage of Iranian missiles and drones targeted at least five countries across the Middle East, prompting several governments to urge their citizens to take shelter, while Israel carried out a 12th wave of airstrikes on Tehran and the US suspended operations at its embassy in Kuwait. (2) The US has cleared the way for India to temporarily increase its purchases of Russian oil, reversing months of pressure on the world’s third-largest crude importer as an escalating conflict in the Persian Gulf upends energy flows. (3) As Dubai residents sat on their balconies watching Iranian missiles being intercepted, London-based recruiter Ashwin Anil started getting calls and texts from prospective hires contemplating a move to the Gulf metropolis. Half of them were now having doubts. (4) For years, Europe has endured President Donald Trump’s complaints that it is a complacent continent hiding under America’s security umbrella. Now, as he launches the first open-ended military campaign of his presidency, its leaders find themselves holding something he still needs: their bases, airspace and strategic geography. (5) US military forces are turning to a range of artificial intelligence tools to quickly manage enormous amounts of data for operations against Iran, according to US Central Command, highlighting the emerging technology’s growing role in warfare. (6) Nvidia has long been the world’s AI kingmaker. Now, the Trump administration is considering taking a formal role in the industry that would include similarly sweeping powers. Podcast Conversation: Hormuz Is the Hidden Risk to the AI Economy 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 expressed confidence in the US military campaign against Iran even as the timeline for operations remained deeply unclear on the fifth day of the Middle East war. (2) Real change in Iran will require a sustained US military focus in the Middle East that could wear down US weapons stockpiles and leave it vulnerable to attacks from other adversaries such as Russia and China, former Secretary of State Antony Blinken said. (3) Oil extended gains as the US and Israeli war against Iran disrupted crude flows to key importers, with the combatants vowing to press on with the conflict and top importer China seeking to conserve fuel. (4) The financial and logistical troubles the Iran war is causing for the global aviation industry are compounding by the day, with the number of canceled flights to Middle East hubs surpassing 23,000 since fighting began. (5) China set its most modest growth target since 1991, a tacit acknowledgment that the model powering the country’s economic rise is showing strains. (6) Anthropic chief Dario Amodei has resumed discussions with the Pentagon about the way its AI models are used by the US military, raising the possibility that the two sides can resolve a feud that’s transfixed Silicon Valley. Podcast Conversation: Billionaire Sitting On 16,000 Kilos of Gold Says Price Will Rise 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 expressed confidence in the US military campaign against Iran even as the timeline for operations remained deeply unclear on the fifth day of the Middle East war. (2) Real change in Iran will require a sustained US military focus in the Middle East that could wear down US weapons stockpiles and leave it vulnerable to attacks from other adversaries such as Russia and China, former Secretary of State Antony Blinken said. (3) Oil extended gains as the US and Israeli war against Iran disrupted crude flows to key importers, with the combatants vowing to press on with the conflict and top importer China seeking to conserve fuel. (4) The financial and logistical troubles the Iran war is causing for the global aviation industry are compounding by the day, with the number of canceled flights to Middle East hubs surpassing 23,000 since fighting began. (5) China set its most modest growth target since 1991, a tacit acknowledgment that the model powering the country’s economic rise is showing strains. (6) Anthropic chief Dario Amodei has resumed discussions with the Pentagon about the way its AI models are used by the US military, raising the possibility that the two sides can resolve a feud that’s transfixed Silicon Valley. Podcast Conversation: Billionaire Sitting On 16,000 Kilos of Gold Says Price Will Rise 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-Israeli war against Iran shows no signs of easing this morning as more countries face being drawn into the conflict in the Middle East. (2) President Donald Trump’s war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike. For Europe, sustained higher energy prices would take the economy to the brink of recession. (3) Chancellor of the Exchequer Rachel Reeves said the UK shouldn’t sacrifice its principles for more favorable trading terms with the US, as she stood by the government’s decision to withhold British backup for the American-Israeli assault on Iran. (4) Donald Trump said he will “cut off all trade with Spain” after the country denied access to its military bases for his bombing campaign against Iran, spurring a sharp rebuke from Madrid that the US president must respect international trade agreements. (5) German Chancellor Friedrich Merz said he intended to discuss with President Donald Trump the next steps in the war on Iran amid questions about the US administration’s endgame after it launched strikes on the Islamic Republic. (6) Europe has found itself pulled into another war, scrambling to protect Cyprus at a moment of weakness. Podcast Conversation: ‘OK, Time to Go’: Cabs, Cash and Twisted Routes to Escape Dubai See omnystudio.com/listener for privacy information.

Chancellor Rachel Reeves says Britain shouldn’t sacrifice its principles for more favorable trading terms with the US, as she discusses the UK's economic future. The chancellor sat down with Bloomberg's Head of Economics and Government Stephanie Flanders after issuing her Spring Statement on Tuesday, as she seeks to convince markets and voters that Britain’s public finances are resilient enough to weather the fallout from the conflict in Iran and rising global energy prices. 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 sent conflicting messages about how long a war with Iran might last as Israel launched new airstrikes on Monday, with the widening conflict reverberating across the Middle East and upending energy markets. (2) Just three days into the conflict, the Iran war has become attritional. Waves of drone attacks by the Islamic Republic are putting pressure on the defenses of the US and its partners from Bahrain to the United Arab Emirates, depleting weapons stockpiles. The outcome of the fight may depend on which side runs out of munitions first. (3) The United Arab Emirates and Qatar are privately lobbying allies to help them persuade President Donald Trump to reach for an off-ramp that would keep US military operations against Iran short, according to people familiar with the matter. (4) Having spent a year attempting to charm and appease Donald Trump, UK Prime Minister Keir Starmer on Monday drew a clear line in the sand: Britain will not join its closest military partner in offensive action against Iran. (5) Oil extended gains as the US and Israel stepped up their war against Iran, while Tehran threatened a full closure of the Strait of Hormuz and hit the American embassy in Riyadh with drones. (6) Chancellor of the Exchequer Rachel Reeves will use her economic statement on Tuesday to lament that the world is awash with uncertainty. And she’ll try not to contribute any more of it — by saying as little as possible. (7) Emirates and Etihad Airways will resume limited operations as the carriers seek to ease some of the congestion caused by the airspace closing in the wake of the ongoing Iranian attacks. Podcast Conversation: Polymarket Geopolitics Wagers Reach Record as Iran War Escalates 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 the bombing campaign against Iran will continue until its objectives are achieved, calling on the nation’s leaders to capitulate as a report indicated at least one top official in Tehran sought to resume nuclear talks with the US. (2) Iran's Leader Ayatollah Khamenei’s demise has potentially seismic consequences for the Middle East and beyond. While it marks the end of an era for Iranians — the majority have only known one leader — for now, as the fighting continues in the Persian Gulf, the Islamic Republic as a system of rule continues to function. (3) Europe scrambles to react, with the UK allowing the US to make use of British military bases for the specific purpose of destroying Iranian missile depots. (4) The oil market’s nightmare scenario came true this weekend. European natural gas prices could more than double if shipping through the Strait of Hormuz is halted for one month, according to Goldman Sachs. (5) Travel chaos extended through the Middle East and beyond, sending airline stocks sharply lower on Monday, as carriers across the Persian Gulf extended blanket flight suspensions, causing major disruptions at some of the world’s busiest airports. (6) Dubai’s nightmare scenario unfolded Saturday: Defense systems repelling Iranian missiles and drones over its famous skyscrapers, explosions and plumes of black smoke rising out of the city-state’s most celebrated neighborhood. See omnystudio.com/listener for privacy information.

'Bloomberg This Weekend' features unique conversations on business, news, lifestyle and culture. Join David Gura, Christina Ruffini and Lisa Mateo Saturdays and Sundays for discussions with business leaders, lawmakers and cultural icons. Watch the show LIVE on Bloomberg Television from 12PM-3PM London Time. Listen to the show LIVE on Bloomberg Radio from 12PM-3PM London Time. Listen to the Podcast for the best conversations from the show. Subscribe on Apple: https://podcasts.apple.com/us/podcast/bloomberg-this-weekend/id1878739308 Subscribe on Spotify: https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47l See omnystudio.com/listener for privacy information.

The US and Israel began striking targets across Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that threatens to spiral across the oil-rich Middle East. “The hour for your freedom is at hand,” Trump said, addressing Iranians in a video posted on Truth Social on Saturday. “When we’re finished, take over your government. It will be yours to take. This will be probably your only chance for generations.” The military campaign could be a defining moment for Trump, risking a drawn-out regional war that leads to a surge in energy prices and American casualties ahead of mid-term elections this year. Iran quickly responded by firing missiles on Israel and US bases around the region, and countries in the Persian Gulf closed their airspace. Israel’s military said the campaign would target “dozens of military targets,” and Iran media reported strikes on defensive and civilian sites, including more than 50 people dead in a strike on a school in Hormozgan, in the south of the country. Several large explosions were reported in the capital, Tehran. Bloomberg's David Gura and Christina Ruffini lead our team coverage in this instant reaction podcast. 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) Netflix dropped out of the fight to buy Warner Bros. Discovery, clearing the way for rival bidder Paramount Skydance Corp. to clinch its $111 billion deal for the historic Hollywood studio. (2) In the UK, The Green Party won a special election for a Manchester seat in the House of Commons, underscoring the threat posed to UK Prime Minister Keir Starmer’s governing Labour Party on its left flank. (3) Anthropic rejected the Pentagon’s latest offer in a dispute over safeguards around the use of its artificial intelligence technology by the US military, escalating the standoff a day before a government deadline for the company to drop its restrictions or face severe consequences. (4) US and Iranian officials ended the latest round of nuclear talks in Geneva on Thursday by agreeing to reconvene as soon as next week, opening the door to further diplomacy even as President Donald Trump masses military forces in the region. (5) Former US Secretary of State Hillary Clinton said she denied any association with disgraced financier Jeffrey Epstein during a “repetitive” hours-long deposition before congressional investigators Thursday. Podcast Conversation: What the First Billionaire Reveals About the First Trillionaire See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Nvidia the dominant maker of artificial intelligence processors, failed to impress investors with its latest sales forecast, signaling that concerns about an overheated AI economy will continue to dog the company. (2) President Donald Trump’s new tariff program will leave about €4.2 billion ($5 billion) of European Union exports facing levies above the 15% ceiling agreed in the EU-US trade accord. (3) The UK’s top banks are resisting a regulatory initiative to boost lending by lowering their capital levels, people familiar with the matter said, casting doubt over an effort to boost growth. (4) Cuban forces killed four people who had opened fire from a speedboat with Florida tags, an incident with the potential to escalate an already tense standoff with the US. (5) The Trump administration imposed sanctions on more than 30 entities that support Iranian oil and weapons sales, ramping up pressure on Tehran amid nuclear talks and the looming threat of US airstrikes. (6) President Donald Trump said this week the US would “easily” prevail in any military confrontation with Iran. Recent activity on the ground in the Islamic Republic, though, indicates any victory might be short-lived. Podcast Conversation: Middle-Aged Patients Fuel Growing Demand for Subtle Nose Jobs 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 offered a strident defense of his administration and economic record, declaring the nation is “bigger, better, richer and stronger than ever before” in a State of the Union address that contained few new policy announcements. (2) HSBC reported better-than-estimated earnings for 2025 as Europe’s largest bank closed out a year in which its market value broke through £200 billion ($270 billion) for the first time in its history. (3) A few weeks ago, analysts at UBS Group AG laid out a worst-case scenario for defaults in the private credit sector. Their outlook is even more grim now. (4) Money manager Danny Moses, immortalized in The Big Short, said private credit and private equity firms’ push into retail products reminds him of the years preceding the subprime mortgage crisis. (5) European Commission President Ursula von der Leyen said the bloc will deliver on its €90 billion ($106 billion) loan package to Ukraine “one way or another” as the war-battered nation is set to run out of funds in a matter of weeks. (6) Lawyers acting for Peter Mandelson, the former UK ambassador to Washington who was linked to convicted sex offender Jeffrey Epstein, said his arrest at home was prompted by a “baseless” suggestion that he was about to flee the country. (7) Spain is the euro zone’s fastest-growing major economy since 2022, but construction hasn't kept up and now its housing crisis is reaching a boiling point. Podcast Conversation: MAGA Meets Europe: Trump’s Envoys Rip Up Diplomatic Playbook See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Donald Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the president’s trade agenda after the Supreme Court struck down his original sweeping duties. (2) The artificial intelligence “scare trade” erupted again on Monday as growing concerns about the disruptive power of AI dragged down shares of delivery, payments and software companies, and sent International Business Machines Corp. to its worst plunge in 25 years. (3) JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon, asked about fierce competition across the financial industry, said he’s starting to see parallels to the era before the 2008 financial crisis, when a rush to make loans ended disastrously. (4) UK police arrested Labour Party grandee Peter Mandelson on suspicion of misconduct in public office after the US Department of Justice released emails allegedly showing him forwarding government information to convicted sex offender Jeffrey Epstein. (5) President Donald Trump’s efforts to end Russia’s invasion of Ukraine are stalling with peace talks deadlocked and the fighting largely at a stalemate after four years of war. (6) Progress towards gender equality at the top of British businesses is 'achingly slow'. That's according to the CEO of the FTSE Women Leaders Review, which has released its latest report. (7) Meta and its partner EssilorLuxottica are at an early lead in the market for smart glasses, but are finding they come from two very different corporate traditions, with distinct priorities. Podcast Conversation: As Trump’s Takeover Threats Wane, Greenland Refocuses on Tourism See omnystudio.com/listener for privacy information.

Your morning briefing. All the news you need to start your day On today's podcast: (1) Senior US officials said President Donald Trump’s tariff defeat at the Supreme Court won’t unravel deals negotiated with US partners as they sought to defend the administration’s assertive trade policies. (2) The European Parliament’s trade chief will propose freezing the ratification process of the European Union’s trade deal with the US until they’ve received details from President Donald Trump’s administration on its trade policy. (3) After boasting for months about its preferential trade deal with US President Donald Trump, the UK is at risk of becoming the biggest loser in the aftermath of the Supreme Court’s decision to strike down his global tariffs. (4) Oil fell as investors weighed the odds of a nuclear deal between the US and Iran, with more negotiations on the issue expected later this week as American forces mass in the Middle East. (5) Hungary plans to block every European Union decision concerning Ukraine, including a new sanctions package against Russia and key loans, until oil starts flowing again through the Druzhba pipeline in western Ukraine. (6) Berlin dentists entrusted €2.2 billion ($2.6 billion) in retirement savings to a group of colleagues with more experience filling cavities than managing money. Now half of it is gone. Podcast Conversation: The New Economics of Going Out Have Transformed Clubbing See omnystudio.com/listener for privacy information.