Bloomberg Daybreak: Europe Edition

On today's podcast:(1) President Donald Trump said he’d impose increased tariffs on countries buying energy from Russia while clarifying that levies on semiconductor and pharmaceutical imports would be announced “within the next week or so.”(2) Swiss President Karin Keller-Sutter arrived in Washington to make a last-minute bid for a deal to lower the 39% tariff imposed last week by Donald Trump.(3) The outlook for Wall Street bonuses is improving, with payouts now set to rise across most sectors of the finance industry as the market rebounds.(4) President Donald Trump said he would make his decision on a replacement for outgoing Federal Reserve Governor Adriana Kugler this week as he looks to make his imprint on the central bank’s monetary policy.(5) UK Chancellor of the Exchequer Rachel Reeves is facing a £51 billion ($68 billion) shortfall to fill at the autumn budget, according to a prominent economic think tank that warned she will likely need to break Labour’s pledge not to raise major taxes.(6) When Novo Nordisk announced it was hunting for a replacement chief executive officer to revive its fortunes, the weight-loss drug maker — whose value has dropped by about two thirds in the past year — could have parachuted in a hot-shot executive from outside. Podcast Conversation: HelloFresh Is Investing $70 Million to Have AI Help Plan DinnerSee 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 would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies.(2) The Swiss government said it is determined to win over the US on trade after last week’s shock announcement of 39% tariffs on exports to America.(3) Tesla approved an interim stock award worth about $30 billion for Chief Executive Officer Elon Musk, a massive payout meant to keep the billionaire’s attention on the automaker as a legal fight over a 2018 pay package drags on.(4) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps.(5) Palantir reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial intelligence technology on its business.(6) The UK government said it would begin detaining small-boat migrants “within days” to be sent back to France, as the two countries prepared to formalize a “one in, one out” treaty on Tuesday.Podcast Conversation: AI Flight Pricing Can Push Travelers to the Limit of Their Ability to PaySee 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 will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth.(2) US stock futures advanced as equity investors took some positives from increased expectations for Federal Reserve interest-rate cuts following Friday’s weak US payrolls data.(3) As US President Donald Trump has ratcheted up his rhetoric against trading partners in Europe — corporates across the continent are taking notice.(4) BMW is staging a swift rollout of 40 new or updated models, including the iX3, which will share slick software, high-performance computers, and radically different design cues.(5) OPEC+ closed a two-year chapter in its oil strategy on Sunday with the last in a series of bumper oil production increases. But it left crude traders with a cliffhanger.(6) Texas Democratic lawmakers said they left the state in an effort to temporarily block Republicans from redrawing its congressional maps — a redistricting initiative pushed by President Donald Trump. Podcast Conversation: Healthy Lifestyle Choices Slow Brain Aging: Lisa JarvisSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with 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 earnings from Walt Disney and Uber. In the UK – a look ahead to earnings from BP. In Asia – a look at ahead to how US smartphone production will be impacted by Apple’s shift towards India, along with an outlook for China property. 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 unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his turbulent effort to reshape international commerce.(2) Copper traders are rushing to book up storage space in a bet that US President Donald Trump’s shock decision not to tariff the main traded form of the metal will prompt a wave of copper into warehouses on the London Metal Exchange.(3) The Federal Reserve’s preferred measure of underlying inflation increased in June at one of the fastest paces this year while consumer spending barely rose, underscoring the dueling forces dividing policymakers over the path of interest rates.(4) Tom Sosnoff, co-founder of tastytrade, trades options live in front of an audience, demonstrating how understanding options can enrich retail traders.(5) Apple reported its fastest quarterly revenue growth in more than three years, easily topping Wall Street estimates, after demand picked up for the iPhone and products in China.(6) Amazon dropped in late trading after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals, leaving investors searching for signs that the company’s huge investments in artificial intelligence are paying off.Podcast Conversation: Venture Capital’s Obsession With Podcasts Transforms Tech Media (2)See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Meta is taking advantage of its lucrative advertising business and stepping up spending next year, with executives saying now is the time to seize on investment opportunities in artificial intelligence. (2) Microsoft said it will spend more than $30 billion in the current quarter to build out the data centers powering its artificial intelligence services. (3) Standard Chartered announced a fresh $1.3 billion share buyback as it reported second-quarter earnings that beat expectations amid the tumult caused by US President Donald Trump’s tariff war. (4) Societe Generale increased the amount of money it wants to return to investors and improved its profitability guidance, highlighting how it has turned a corner under Chief Executive Officer Slawomir Krupa. (5) Housing developers are claiming that the UK's tough post-Grenfell checks are making it too complicated to build new high-rise buildings, worsening its housing shortage. (6) US President Donald Trump announced a trade agreement with South Korea that will impose a 15% tariff on imports, while issuing a barrage of new tariff announcements. (7) The global copper market is reeling from President Trump's 50% tariff on imports of the metal as the president exempted key products - including refined metal - from the levy.Podcast Conversation: Wharton Experiment Finds ‘Dumb’ AI Bots Collude to Rig MarketsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Hawaii and remote parts of California’s coast are bracing for tsunamis to hit within hours, after a powerful earthquake in Russia’s Far East triggered alerts across the Pacific. (2) US President Donald Trump is set to make the final call on maintaining a tariff truce with China before it expires in two weeks, an extension that would mark a continued stabilization in ties between the world’s two biggest economies. (3) HSBC's earnings for the second-quarter fell short of expectations after it posted an increase in expenses, and took a charge on its holdings in a Chinese bank. (4) Investors parsing Jerome Powell’s remarks Wednesday for any hint that the Federal Reserve is moving closer to an interest-rate cut might be left wanting. (5) Santander posted a record second-quarter profit and announced a new buyback as Spain’s largest bank makes good on a pledge to repurchase at least €10 billion ($11.6 billion) worth of stock over two years. Podcast Conversation: Terror at Blackstone: The Harrowing Hours at 345 Park Avenue 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 gunman killed at least four people and himself at an office tower that houses Blackstone Inc., Rudin Management, the National Football League and KPMG among others, sparking hours of chaos and fear in Midtown Manhattan on Monday evening. (2) The European Union dodged an imminent trade war with the US this week, but markets and a growing chorus of critics have dispelled early hopes that the deal will bring a sense of stability back to transatlantic relations. (3) Commerce Secretary Howard Lutnick said a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm. (4) President Donald Trump said he would shorten his timeline for Russian leader Vladimir Putin to reach a truce with Ukraine or face potential economic penalties, heightening pressure on Moscow to bring the fighting to a halt. (5) The rising price of products such as tea and meat pushed UK food inflation to its highest level in 17 months, as retailers blamed the Labour government’s first budget for driving up costs. (6) Prime Minister Keir Starmer has been urged by a group of economists including Thomas Piketty to implement a wealth tax they claim can raise tens of billions of pounds for the UK treasury.Podcast Conversation: Boxing, Backflipping Robots Rule at China’s Biggest AI Summit See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy. (2) US and Chinese officials are meeting Monday to extend their tariff detente beyond a mid-August deadline, and haggle over other ways to further defuse trade tensions. (3) UK Prime Minister Keir Starmer will meet US President Donald Trump in Scotland on Monday in a bid to remove the remaining obstacles to their trade deal and press for a lasting ceasefire in Gaza. (4) Israel increased aid distribution to Gaza over the weekend in an effort to defuse a growing international outcry over hunger convulsing the shattered Palestinian enclave. (5) Samsung Electronics Co. will produce AI semiconductors for Tesla Inc. in a new $16.5 billion pact that marks a win for its underperforming foundry division. Podcast Conversation: Rome's Next Big Tourist Draw Risks Going Bust Before It Opens See omnystudio.com/listener for privacy information.

While discussions of US tariff policies dominated Q2 earnings calls to an unprecedented degree, another equally important trend is bubbling just under the surface in C-suites and on trading floors: concern that the economic uncertainty caused by tariff turmoil may lead to a downturn. That’s the conclusion of the third edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on more than 4,500 earnings calls worldwide in Q2 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Mai-Britt Poulsen, Global Leader of BCGs Consumer & Retail Practice, to discuss how CEOs can build their resilience. This episode of the CEO Radar Podcast is produced by Bloomberg Media Studios and sponsored by by BCG Global.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to a monetary policy decision from the Fed and earnings from some of the “Magnificent Seven” tech companies. In the UK – a look at President Trump’s trip to Scotland. In Asia – a look at ahead to China PMI data and a conversation on Asia tech investing. See 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 Chair Jerome Powell is smack in the middle of one of President Donald Trump’s preferred attack strategies — flooding the zone.(2) European Central Bank policymakers pushing for another cut in interest rates face an uphill battle, with inflation at 2% and the economy withstanding trade turbulence, according to people familiar with the matter.(3) LVMH sales fell as shoppers reined in purchases of costly Louis Vuitton bags and Dior jackets, a sign the luxury titan remains stuck in its post-pandemic slump.(4) Australia and the UK will hold talks between their foreign and defense ministers in Sydney on Friday, with the aim of signing a £20 billion ($27 billion) “treaty” to help build nuclear-powered submarines.(5) The UK has restored its international standing after years of “performative” politics under successive Conservative governments, Labour Prime Minister Keir Starmer said in an interview after sealing a long-sought trade deal with India on Thursday.Podcast Conversation: London's Central Line Is Broiling City Commuters DailySee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The European Union and the US are progressing toward an agreement that would set a 15% tariff for most imports, according to diplomats briefed on the negotiations. (2) Top representatives from the European Union met with Chinese President Xi Jinping Thursday, opening their first in-person summit since 2023 that’s exposing a divide between the bloc and Beijing just months after earlier signs of a possible detente. (3) Elon Musk warned of a hard year ahead for Tesla Inc., adding to the automaker’s woes after reporting one of its worst quarters of the last decade. (4) The number of companies and organizations compromised by a security vulnerability in Microsoft Corp.’s SharePoint servers is increasing rapidly, with the tally of victims soaring more than six-fold in a few days, according to one research firm. (5) British car and van production in the first half of this year has hit its lowest level since 1953, excluding the industry shutdown during Covid. Podcast Conversation: The Odyssey Is Making Movies Feel Like a Concert: Jason BaileySee 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 reached a trade deal with Japan that will impose 15% tariffs on US imports from the country, including its auto sector, while creating a $550 billion fund backed by the Japanese to make investments in America. (2) UniCredit dropped its bid for rival Banco BPM ending an eight-month standoff with its rival and the Italian government over the plan to create the country’s largest lender. (3) The US agency responsible for maintaining and designing the nation’s cache of nuclear weapons was among those breached by a hack of Microsoft Corp.’s SharePoint document management software, according to a person with knowledge of the matter. (4) Morgan Stanley is being probed by the Financial Industry Regulatory Authority over its vetting of clients for the risk of money laundering, the Wall Street Journal reported. (5) SAP reported quarterly cloud and software sales that fell just short of estimates as tariff insecurities weighed on Europe’s most valuable company. Podcast Conversation: Meme Stock Fever Is Spreading Like It’s 2021 With Kohl’s SoaringSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) A cohort of the world’s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions.(2) Junk bond funds based in Europe saw their biggest weekly inflow of the year last week, as investors continue to pile into an asset class that offers relatively generous yields, stability and diversification away from the US dollar.(3) AstraZeneca plans to invest $50 billion in the US before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines.(4) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington.(5) The ruling Labour party and upstart rival Reform UK separately opened the door to a potential increase in the retirement age, a move that would help cut the government’s costs but almost certainly draw a backlash from the public.Podcast Conversation: How YouTube and Tiktok Are Shaping a New Generation of ChefsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) European Union envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline.(2) The global economy started 2025 on a solid footing. Now the ground has shifted. We estimate the average US tariff rate has risen to 13.3% from 2.3% in January. That's already the highest rate since 1939. As the impacts of President Trump's trade war crystallize, we expect a $2 trillion hit to global GDP by the end of 2027.(3) Japanese Prime Minister Shigeru Ishiba said he intended to stay on even as his ruling coalition suffered a historic setback in an upper house election on Sunday, an outcome that may further unsettle markets.(4) London Stock Exchange Group is weighing whether to introduce 24-hour trading in response to growing demand from small investors, the Financial Times reported.(5) UK home sellers slashed prices at a record pace this month as a decade-high number of properties for sale tips the scales in favor of buyers in some of the nation’s most-expensive markets.Podcast Conversation: In 'Alien: Earth' the Real Baddie Is Tech's Corporate CultureSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with 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 earnings from Tesla. In the UK – a look ahead to the next ECB monetary policy decision. In Asia – a look at ahead to Japan’s upper house election. See 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 Christopher Waller said policymakers should cut interest rates this month to support a labor market that is showing signs of weakness. (2) Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project. (3) Some traders have placed wagers in the UK options market that could net a more than 1,000% return if the Bank of England ignores inflation at an eighteen month high and delivers more cuts this year than rates pricing suggests. (4) The US Commerce Department will impose preliminary anti-dumping duties on imports of Chinese graphite, a key battery component, after concluding that the materials had been unfairly subsidized. (5) While rival media companies are unloading assets and cutting costs, Netflix continues to thrive. (6) England are through to the semi-finals of the Women's European football championship after beating Sweden on penalties Podcast Conversation: ChatGPT Will Soon Shop Online, Make PowerPoints on Your BehalfSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Once again, President Donald Trump demonstrated his power to shake up global financial markets. This time, by returning to one of his favorite topics: whether to fire Federal Reserve Chair Jerome Powell. (2) The US President said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda. (3) JPMorgan Chase keeps putting more distance between itself and key rivals.The first half saw the bank’s market value surpass that of its three largest competitors — BofA, Citigroup and Wells Fargo — combined. (4) Wall Street banks were optimistic Donald Trump’s second term would unleash a dealmaking boom. Instead, it’s delivered a trading bonanza. (5) When Jon Cunliffe arrived at the Bank of England in 2013 he had a daunting task: implement the biggest ever clean-up of Britain’s banking system — designed in the wake of the financial crisis — to prevent highly leveraged lenders from collapsing. Tempted out of retirement in 2024, the 72-year-old has been asked to pull off a similar job, but this time as the architect of a reform package to fix the UK’s heavily indebted and wildly unpopular water industry (6) Germany has rejected the European Commission’s €2 trillion ($2.3 trillion) budget proposal, hours after it was announced by European Commission President Ursula von der Leyen in Brussels. (7) UK Prime Minister Keir Starmer and German Chancellor Friedrich Merz will sign a new Anglo-German treaty in London on Thursday that includes a commitment to assist each other in case of armed attack. Podcast Conversation: How the Boss Optimizes Their Routine for a Good Night's SleepSee 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 proposed scrapping two national holidays, part of a drastic effort to repair public finances that’s set to unleash a parliamentary backlash in the fall.(2) Chancellor of the Exchequer Rachel Reeves pledged to shake up post-crisis rules that are meant to shield consumers’ money from the vagaries of investment banking as the UK government looks to the finance sector to help spur economic growth.(3) The UK tax authority cannot identify how much tax the nation’s billionaires pay on their wealth, hampering its ability to properly impose levies on the ultra-wealthy, according to lawmakers.(4) The UK’s previous government set up a secret immigration route for Afghans affected by a data breach three years ago and then kept it secret from the British public, Defence Secretary John Healey said.(5) Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.(6) As Donald Trump’s tariff policies roiled markets almost everywhere, on Wall Street they were helping the biggest banks set records. JPMorgan’s stock traders scored their best second quarter ever, while Citigroup Inc.’s, trading division saw its best result for that period in five years. Analyst predictions were easily surpassed by the banks’ respective hauls, and even investment banking businesses did better than expected despite fears the same volatility might stymie deals.Podcast Conversation: Hot Jewelry Companies Find Major Success With Art Deco DesignsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Chancellor of the Exchequer Rachel Reeves will highlight plans to spur homeownership by easing access to mortgages in her flagship annual address to the City of London, a key moment for Britain’s finance minister as she seeks to bounce back from a rocky period that included a market-moving tearful appearance in the House of Commons.(2) The UK economy is showing more signs of rebounding from its recent slump, with a jump in June retail sales adding to evidence of a strong pick-up in activity seen in other leading indicators.(3) China’s economic growth exceeded expectations in the second quarter, but strong exports to markets outside the US masked deepening pressure caused by weak consumer demand at home.(4) Nvidia Corp. plans to resume sales of its H20 AI chip to China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance.(5) US President Donald Trump threatened to impose stiff financial penalties on Russia if it does not end hostilities with Ukraine even as he pledged fresh weapons supplies for Kyiv.(6) The European Union has finalized a second list of countermeasures to target US goods worth €72 billion ($84 billion), including Boeing Co. aircraft, automobiles and bourbon if it decides to retaliate as transatlantic trade tensions intensify.Podcast Conversation: What’s in a Fob? The Surprising Complexity of Designing Car KeysSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter. (2) Equity-index futures retreated and Asian shares edged down in a cautious start to the week after President Donald Trump dialed up trade tensions by announcing a 30% tariff on goods from the European Union and Mexico. (3) Hiring by UK businesses plunged at the fastest pace in nearly two years, according to a survey that suggested that the fallout from a hike in payroll taxes is showing little sign of letting up. (4) King Charles III will host US President Donald Trump for a state visit in September, the second time Trump will have received the highest honor offered to a visiting dignitary by the UK. (5) President Emmanuel Macron said France will make a “new” and “historic” effort to increase defense spending to counter an acceleration of threats to freedom in Europe and the risk of outright war in the coming years. Podcast Conversation: At 66, I Decided to Get Healthy Again: EssaySee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with Netflix earnings. In the UK – a look ahead to a speech from UK Chancellor Rachel Reeves. In Asia – a look at several key data points for the Japanese economy. 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 threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar. (2) Markets are complacent on tariffs planned by US President Donald Trump, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has warned. (3) Keir Starmer sealed a “one in, one out” migrant returns trial with French President Emmanuel Macron that highlighted the limits for now of the UK Prime Minister’s efforts to reset relations with European nations five years after Brexit. (4) Since arriving at Santander in 2016, Javier Garcia-Carranza has pushed through sweeping change: ousting managers, slashing costs and overhauling traditional ways of working to become one of Chair Ana Botin's closest allies. (5) French Prime Minister Francois Bayrou called on the European Central Bank to do more to support the economy as his government struggles to contain its budget deficit and address slowing growth. (6) President Donald Trump said he plans to make a “major statement” on Russia, as the US prepares to send more American weapons to Ukraine via purchases from NATO allies. (7) Ukrainian President Volodymyr Zelenskiy said a meeting with US and European allies in Rome stoked optimism that Donald Trump’s administration will ramp up military aid to the war-battered country, including air defense. Podcast Conversation: Hotels’ Luxury Brand Pop-Ups Are a Key Summer StrategySee 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 threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.(2) Markets are complacent on tariffs planned by US President Donald Trump, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has warned.(3) Keir Starmer sealed a “one in, one out” migrant returns trial with French President Emmanuel Macron that highlighted the limits for now of the UK Prime Minister’s efforts to reset relations with European nations five years after Brexit.(4) Since arriving at Santander in 2016, Javier Garcia-Carranza has pushed through sweeping change: ousting managers, slashing costs and overhauling traditional ways of working to become one of Chair Ana Botin's closest allies.(5) French Prime Minister Francois Bayrou called on the European Central Bank to do more to support the economy as his government struggles to contain its budget deficit and address slowing growth.(6) President Donald Trump said he plans to make a “major statement” on Russia, as the US prepares to send more American weapons to Ukraine via purchases from NATO allies. (7) Ukrainian President Volodymyr Zelenskiy said a meeting with US and European allies in Rome stoked optimism that Donald Trump’s administration will ramp up military aid to the war-battered country, including air defense.Podcast Conversation: BloombergUK to End Paper Shares After 400 Years to Boost City’s Appeal14 hours agoSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva. (2) President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances. (3) Nvidia became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market. (4) As the deadline for talks on US 'reciprocal' tariffs nears, Bloomberg Economics estimates the EU's best-case scenario - where the EU faces only 10% tariffs and no duties on cars, car parts, or metal products -- the tariff shock would drop to about 5.5 percentage points, down from 9 points under current policy. (5) Running could turn around the fortunes of Puma SE and Adidas AG as they look to make up ground lost to new upstarts before US tariffs start to bite. (6) The UK and French governments plan to order more of the Storm Shadow cruise missiles that they’ve been supplying to Ukraine, as well as accelerate efforts to develop a next-generation replacement for the weapons. (7) On Wednesday, scientists released a first-of-its-kind rapid attribution study linking recent deaths in Europe due to climate change-linked extreme heat, which killed an estimated 2,300 people in 12 European cities, including Barcelona, between June 23 and July 2.Podcast Conversation: The Part-Time Soldiers Signing Up to Defend EuropeSee 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 sowed fresh chaos in metals markets with news of a higher-than-expected 50% tariff on copper imports, spurring a record spike in US futures and a drop in the global benchmark. (2) President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals. (3) As the European Union nears a trade deal with the US, its negotiators are focusing on protecting key industries from massive tariffs set to hit the bloc’s exports as soon as Aug. 1. (4) Britain is at risk of a £22 billion ($29.9 billion) surge in debt-interest costs as pension schemes buy fewer government bonds, threatening to worsen an “unsustainable” outlook for the public finances. (5) UK officials were kept in the dark over a crucial report detailing major cultural failings at the statistics body that contributed to the breakdown of official unemployment data. (6) SpaceX is discussing plans to raise money and sell insider shares in a deal that would value Elon Musk’s rocket and satellite maker at around $400 billion, people familiar with the matter said. Podcast Conversation: From Delhi to Dubai: Food Trends That Will Dominate Snack AislesSee 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 unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug. 1. (2) The European Union is seeking to conclude a preliminary trade deal with the US this week that would allow it to lock in a 10% tariff rate beyond an Aug. 1 deadline as they negotiate a permanent agreement. (3) The UK is racing to secure US agreement to make operational a deal to eliminate tariffs on British steel ahead of a Wednesday deadline when American officials could choose instead to raise the levy to 50%. (4) More than 100 people have been confirmed dead in floods that tore through central Texas over the weekend, marking a grim milestone as searchers used boats, dogs and drones to locate victims and authorities debated whether anything more could have been done to prevent the disaster. (5) The UK government is moving to ban employers deploying nondisclosure agreements to muzzle workers who have been victims of misconduct on the job. (6) France's President Emmanuel Macron arrives in Britain today for the first state visit from a french leader since 2008. Podcast Conversation: Outdoor Baths, Americans Are Driving Cotswolds Property TrendsSee 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 would put an additional 10% tariff on any country aligning themselves with “the Anti-American policies of BRICS,” injecting further uncertainty into global trade as the US continues to negotiate levies with many trading partners. (2) China will impose some reciprocal curbs on medical-device procurement for companies based in the European Union, adding tensions between the two major trading partners just as Beijing seeks to shore up ties while it fights a trade war with the US. (3) 82 people are now known to have died in Texas after catastrophic flooding that left officials struggling to explain whether they did enough to warn people of the fast-rising waters. (4) British bosses were clamouring for change after 14 years of rule by the opposition Conservative party. But a year on from the Labour Party’s landslide election win, that initial optimism has been replaced by discontent over tax increases, persistent red tape and a lack of dialogue with the government. (5) Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. (6) The UK government talked down hopes that the two-child cap on parental benefits might be scrapped, as Prime Minister Keir Starmer seeks to hold the line on spending after failing to push through separate controversial welfare cuts. (7) President Donald Trump blasted Elon Musk’s bid to start a new political party, as the intensifying feud between the former allies deepens concerns among investors over the implications for Tesla Inc. and other companies helmed by the world’s richest man. Podcast Conversation: Trump's Style Is a Lot. But It's Not Rococo: Feargus O'SullivanSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to Delta earnings and a summer travel outlook. In the UK – a look ahead to JP Morgan's Jamie Dimon visit to Ireland ahead of the US tariff deadline for Europe In Asia – a look at how recent data from China are providing an ambiguous read on the health of the world's second largest economy. See 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 said that his administration will start sending out letters to trading partners on Friday setting unilateral tariff rates, which he said countries would have to begin paying on Aug. 1. (2) The Chinese government intends to cancel part of a two-day summit with European Union leaders planned for later this month, in the latest sign of the tensions between Brussels and Beijing. (3) Treasury Secretary Scott Bessent dismissed the idea that the dollar’s recent declines raise concerns about its status as the world’s key currency. (4) The smiling faces of Rory McIlroy, Scottie Scheffler and other millionaire champions beam out from the marketing material for next week’s Scottish Open. “This is Golf Country,” goes the tagline. But away from the sport’s royalty and the glitz of venues such as US President Donald Trump’s two resorts, the home of golf has little to smile about. (5) President Donald Trump secured a sweeping shift in US domestic policy as the House passed a $3.4 trillion fiscal package that cuts taxes, curtails spending on safety-net programs and reverses much of Joe Biden’s efforts to move the country toward a clean-energy economy. (6) Chancellor of the Exchequer Rachel Reeves stressed her commitment to fiscal discipline in her management of the UK’s public finances after reassurances about her position from Prime Minister Keir Starmer led jittery markets to rebound on Thursday. (7) Tributes from the footballing world have continued for Liverpool's Diogo Jota, who died in a car crash alongside his brother in Spain yesterday. Podcast Conversation: The Cushiest Job in Corporate America Is No MoreSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) UK Prime Minister Keir Starmer said Rachel Reeves will stay on as Chancellor of the Exchequer, as he sought to draw a line under speculation about her future that sparked a bond selloff. (2) As speculation of Reeves’ potential ouster raced through markets, 30-year gilt yields surged 19 basis points Wednesday, the biggest jump since April and one strong enough to send ripples into US Treasuries. Stocks slid. And the pound tumbled as investors headed for the exits, skeptical of Starmer’s continued commitment to shoring up the nation’s precarious finances. (3) The “weaponization” of foreign exchange is posing a growing headache for central bank reserve managers, giving them more reason to boost their holdings of gold. (4) House Republican leaders struggled to find the final votes to advance Donald Trump’s massive tax and spending package, holding a key vote open for hours as the president and his allies worked to win them over but expressing confidence the legislation would eventually pass. (5) President Donald Trump’s administration has lifted recent export license requirements for chip design software sales in China, as Washington and Beijing implement a trade deal for both countries to ease some restrictions on critical technologies. (6) President Donald Trump said he had reached a trade deal with Vietnam following weeks of intense diplomacy between the nations and ahead of a deadline next week that would have seen higher tariffs imposed on the country’s imports. Podcast Conversation: Wimbledon Investors Turn 75% Profit Trading Access to VIP SeatsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Keir Starmer dramatically abandoned his flagship welfare reforms to avoid a historic defeat, leaving the UK prime minister’s authority badly damaged and his government facing a widening fiscal hole to fill. (2) The Trump administration is halting the transfer of artillery rounds and air defenses to Ukraine, depriving the country of much-needed weapons as it endures stepped-up missile and drone attacks from Russia. (3) President Donald Trump said Israel has agreed to the conditions needed for a 60-day ceasefire in Gaza, adding that the plan would now be presented to Hamas. (4) AstraZeneca's Chief Executive Officer Pascal Soriot wants to move the drugmaker’s stock listing to the US, the Times reported, in what would be another sign of the UK’s waning status as a magnet for global capital. (5) Bank of England Governor Andrew Bailey said high interest rates are having less of an impact on inflation because of Britain’s low levels of debt among both businesses and consumers. (6) Banco Santander agreed to buy Banco Sabadell SA’s UK unit for £2.65 billion ($3.64 billion), a deal that will make it the UK’s third-largest lender by some measures. Podcast Conversation: Amazon's Goodreads Is Forgetting Why It ExistsSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) The European Union is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc’s exports, but wants the US to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft. (2) President Donald Trump threatened to proceed with ramping up tariffs on Japan, while his top economic adviser said the White House aims to finalize deals with partners after the July 4 holiday. (3) UK Prime Minister Keir Starmer is girding for what could be the most consequential vote of his premiership, with Labour rebels warning that the government’s welfare overhaul still risks defeat despite huge concessions to push it through parliament. (4) Apple is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. (5) Cybersecurity woes are plaguing the US Treasury Department, deepening a rift between the agency responsible for protecting the integrity of the financial system and the banks it regulates. (6) Senate Republican leaders continue to scrounge for votes to pass Donald Trump’s $3.3 trillion tax and spending bill as lingering intraparty fights threaten to upend the legislative centerpiece of the president’s domestic agenda.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) With just 10 days to go until President Donald Trump’s country-specific tariffs are set to resume, the White House appears poised to fall short of the sweeping global trade reforms it promised to achieve during the three months they were on hold. (2) Canada has withdrawn its digital services tax on technology companies such as Meta Platforms Inc. and Alphabet Inc. in a move to restart trade talks with the US (3) Senate Majority Leader John Thune is rushing to meet President Donald Trump’s July 4 deadline for pushing through his massive tax and spending bill, but first he has to work through a list of approximately eight Republican senators who have expressed opposition to portions of it. (4) President Donald Trump said he has identified a buyer for the US operations of TikTok, the social media app owned by Chinese company ByteDance Ltd., without naming the winning bidder. (5) European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half, the most dramatic sign of how the region’s markets are staging a comeback after more than a decade in the doldrums. (6) Keir Starmer is working to contain the rebellion in his Labour Party ahead of a vote Tuesday on his flagship welfare policy that’s provoked widespread criticism and called his leadership into doubt. Podcast Conversation: UK’s Record-Breaking Sunshine Isn’t All Good News: Lara WilliamsSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the June jobs report and commodities outlook. In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix. In Asia – a look at relations between China and Iran. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The US Treasury Department announced a deal with G-7 allies that will exclude American companies from some taxes imposed by other countries in exchange for removing the Section 899 “revenge tax” proposal from President Donald Trump’s tax bill. (2) The European Union is prepared for all eventualities in its trade negotiations with the US, including for a breakdown in talks, Ursula von der Leyen said, after discussing the latest proposals from the Trump White House with the bloc’s leaders. (3) The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners. (4) Keir Starmer agreed to pare back a divisive £5 billion ($6.9 billion) cut to welfare to quiet a rebellion by his own party, a decision that will likely leave both Britain’s fiscal plans and the prime minister’s own leadership in need of repair. (5) The Labour government’s payroll tax is costing the UK jobs, depressing workers’ earnings and pushing up food prices, Bank of England Governor Andrew Bailey said as he warned that the risks to inflation remain “two-sided.” Podcast Conversation: Anna Wintour Is Giving Up Her Daily, Duties at Vogue MagazineCorrection: An early version of this podcast incorrectly stated that the next Bank of England rate decision would be in July, rather than August.See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) NATO leaders agreed to increase defense spending to 5% of GDP and renewed their “ironclad commitment” to mutual security in an historic move to push back against an increasingly belligerent Russia(2) President Donald Trump said the US would hold a meeting with Iran next week but cast doubt on the need for a diplomatic agreement on the country’s nuclear program, citing the damage that American bombing had done to key sites.(3) Worldline SA Chief Executive Officer Pierre-Antoine Vacheron blamed an orchestrated media campaign for the firm’s precipitous share decline in an effort to dig the company out of its current crisis.(4) President Donald Trump said he has three or four people in mind to succeed Federal Reserve Chair Jerome Powell when his term expires next year.(5) Chancellor of the Exchequer Rachel Reeves should resist the temptation to raise levies on UK companies further because of the risk of strangling economic growth, one of the country’s biggest business lobbies said.(6) The UK is seeking to increase the recognition of British professional certifications abroad, a move aimed at boosting the nation’s service-sector exports by making it easier for highly skilled employees to work for clients overseas.Podcast Conversation: Amazon Says Denis Villeneuve Will Direct Next James Bond FilmSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) American airstrikes had only a limited impact on Iran’s nuclear program, according to early US intelligence findings, as the United Nations watchdog urged fresh inspection of the sites. (2) Donald Trump ensured that NATO’s high-stakes summit would be a nervy affair to the end as he flew in to The Hague fueling doubts about whether the US remains fully committed to defending its allies. (3) The European Union plans to impose retaliatory tariffs on US imports, including on Boeing aircraft, if President Donald Trump puts a baseline levy on the bloc’s goods as many expect. (4) Chinese companies are ramping up shipments to Britain to levels not seen in years, a possible sign that the Asian factory powerhouse is finding export markets unimpeded by high tariffs like those President Donald Trump has imposed. (5) Federal Reserve Chair Jerome Powell had plenty of opportunities Tuesday to tell lawmakers definitively the central bank will cut interest rates soon. He didn’t take any of them. (6) Former New York Governor Andrew Cuomo conceded to his upstart rival Zohran Mamdani in the Democratic primary in the race to become mayor of New York City after the 33-year-old Queens lawmaker racked up commanding leads across Brooklyn, Queens and Manhattan.Podcast Conversation: Elite Dating Services Are Thriving as Love Defies Economic WoesSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Iran and Israel appeared to be nearing a pause in their 12-day war after President Donald Trump announced a surprise ceasefire in a conflict that saw key Iranian military leaders and scientists killed, US bombing of Iranian nuclear sites and a salvo of missiles launched at Qatar. (2) An attack on a US air base near Doha on Monday that Iran billed as a retaliation to American airstrikes ordered by President Donald Trump ended with missiles were intercepted in the air, and no one was killed or hurt. The Qataris knew the missile barrage was coming. So did the Americans. The Iranians had told them. (3) Oil extended a slump as US President Donald Trump announced a tentative ceasefire between Iran and Israel. (4) UK Prime Minister Keir Starmer will vow to spend 5% of British economic output on security by 2035, embracing an ambitious NATO target sought by President Donald Trump without providing a path on how to get there. (5) The European Union and Canada have signed a security partnership that moves them closer to cooperation on military purchases, as Prime Minister Mark Carney aims to reduce his country’s dependence on the US for defense. (6) UK Prime Minister Keir Starmer welcomed a three-year program by Amazon.com Inc. to invest £40 billion ($54 billion) in the British economy over the next three years, including opening four new warehouses.Podcast Conversation: Ireland Sees Thousands of Jobs at Risk From US Pharma Tariffs and Stephen meeting Ireland's Finance MinisterSee omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) The unprecedented US airstrikes on Iran have set traders and governments worldwide on edge, as the Islamic Republic warns of retaliation and Israel shows no sign of letting up in its assault. (2) Iran warned there would be consequences for US strikes on its key nuclear sites and said it “reserves all options,” while showing restraint in its initial response. (3) The US State Department issued a “Worldwide Caution” alert for American citizens, flagging the potential of travel disruptions and demonstrations following the US strikes on Iranian nuclear facilities. (4) Oil jumped after the US struck Iran’s nuclear sites, stoking concerns that energy supplies from the Middle East could be disrupted. (5) Two supertankers, each capable of hauling about 2 million barrels of crude, U-turned in the Strait of Hormuz after US airstrikes on Iran raised the risk of a response that would ensnare commercial shipping in the region. (6) The UK said its military wasn’t involved in American air strikes on Iran, although a cabinet minister expressed support for their results Bloomberg Opinion:+ To a President With a Midnight Hammer, Everything Is a Nail+ The US Has Two Paths in Iran. Tehran’s Clerics Will Decide Both.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S GDP and personal spending data and Nike earnings. In the UK – a look ahead to TheCityUK's annual conference. In Asia – a look ahead to Bloomberg’s China economic survey.-----------------------------------------------------------------Guests:-Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview next week's U.S GDP/personal spending data.- Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, to preview Nike earnings. -Leo Kehnscherper, Bloomberg European Asset Management Reporter, looks ahead to TheCityUK's annual conference. -Julian Harris, UK Economics Editor, looks ahead to TheCityUK's annual conference. - Eric Zhu, China Economist for Bloomberg Economics, discusses Bloomberg’s China Economic Survey. -Karishma Vaswani, Bloomberg Opinion Columnist in Singapore, discusses her column: “US Rethink on Australia Subs Is China’s Win.” See omnystudio.com/listener for privacy information.