Bloomberg Daybreak: Europe Edition

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Longer-maturity bonds are at the epicenter of investor angst about everything from inflation to the debt-laden artificial-intelligence boom — and governments are paying the price.

(2) The prospects for peace in the Middle East suffered a fresh setback, with President Donald Trump saying he’s not interested in extending the expiring agreement with Iran and tensions flaring anew in the Strait of Hormuz.

(3) Russia’s hybrid war in Europe has already begun, Latvian President Edgars Rinkevics said, following warnings of Moscow’s attempts to intimidate nations supporting Ukraine.

(4) China’s economy showed across-the-board weakness in July and growth likely slipped further below the government’s annual target, sparking a call from Premier Li Qiang on officials to ramp up supportive measures.

(5) Meta Platforms is headed to court Tuesday for a high-stakes showdown with a coalition of state attorneys general over claims that the company deliberately designed Facebook and Instagram to encourage compulsive use among young users.

(6) Anthropic is on track to generate annualized revenue of more than $65 billion based on its current performance, according to people familiar with the matter, up more than sevenfold from its pace at the end of last year.

(7) Mike Ashley's Frasers Group has built a real estate empire and now owns around 8 million square feet of retail park and shopping center space, part of what the company’s CEO Michael Murray said is a 16 million-square-foot portfolio worth £2 billion.

Podcast Conversation: America Has More Money, Europe Has Better Manners
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) JPMorgan Chase's Jamie Dimon warned UK Chancellor of the Exchequer John Healey in a call last week against higher taxes on banks as Prime Minister Andy Burnham’s government prepares its budget for October, the Financial Times reported.

(2) Europe's lenders are hopeful the European Commission will tackle some of their biggest complaints. The continent is weighing a deregulation push after President Donald Trump’s administration vowed to unshackle banks from what it sees as excessive curbs introduced after the 2008 financial crash.

(3) President Donald Trump said he’s told the Pentagon to “substantially reduce” joint military exercises with South Korea, indicating his shift was driven by frustration the longtime US ally hadn’t provided more support for his war with Iran.

(4) Middle Eastern oil producers are pressing ahead with shuttling large volumes of crude out of the Persian Gulf, helping keep a lid on prices and assuaging fears of an energy-driven inflation spike, even as the Iran war drags on.

(5) French Prime Minister Sebastien Lecornu will hold a crisis meeting Monday to respond to the cyberattack disclosed last week targeting the country’s tax collection agency.

(6) Emergency services were attempting to control a large wildfire in the east of Belgium on Sunday, after the blaze destroyed about 2,700 hectares (6,700 acres) of a nature reserve and forced about 600 residents to evacuate in an area near the German border.

Podcast Conversation: For Chefs and CEOs Alike, Vision Is Priceless
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to S housing data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to Europe inflation and PMI data.
In Asia – a look ahead to why the persistent weakness of the yen is a troubling issue for Japan’s policymakers.
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Nigel Farage is returning to Parliament after winning an election designed to turn the page on questions over his personal finances that saw the Reform UK leader go head-to-head against a satirical candidate dressed as a trash can.

(2) The US government sold 30-year bonds at the highest interest rate in a quarter century, a testament to investors’ demand for greater compensation to finance the nation’s growing deficit.

(3) UK Prime Minister Andy Burnham faces a dilemma over how to cut the cost of living while rebalancing business taxes toward larger companies. Hitting some bigger firms might cause them to pass prices onto consumers.

(4) OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, according to people familiar with the matter, roughly doubling its run rate from the end of 2025 and bolstering the company’s plans for a Wall Street debut.

(5) Poland said its security services prevented the assassination of a US citizen originally from Ukraine that was ordered by Russian intelligence.

(6) An unusually powerful El Niño is raising the odds that 2026 will surpass 2024 as the world’s hottest year on record, and regardless, 2027 is expected to set a new high, according to a monthly analysis of global weather data by Berkeley Earth, a nonprofit research group.

(7) Heat wave warnings are still in place in much of Europe today, although the peak in temperatures has now passed in France and the UK. The more frequent extreme weather events are pushing forecasters into using new technologies.

Podcast Conversation: Cats and Dogs Are Now Being Given Anti-Aging Drugs, Peptides
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Russia may escalate attacks against the Baltic States and Poland, a European intelligence official said, amid rising concern that Moscow wants to further intimidate nations supporting Ukraine.

(2) A $42 billion auction of 10-year US Treasuries resulted in the highest yield for the benchmark securities since 2007, luring decent appetite from investors who’ve been demanding more compensation to finance the US government.

(3) Prime Minister Sanae Takaichi’s government is supportive of a near-term rate hike by the Bank of Japan, with the next move likely either in September or October, according to people familiar with the matter.

(4) Global stocks climbed toward a record and bonds extended gains as a subdued US inflation report eased concerns about an imminent interest-rate hike by the Federal Reserve. Brent snapped a six-day rally.

(5) The US military campaign against Iran has so far failed to force the regime to capitulate. The Trump administration is betting once again that suffocating economic pressure will do the job.

(6) Europe’s fifth heat wave of the summer is set to peak Thursday, the latest in a string of extreme weather events that have strained health systems and energy networks across the region.

(7) The black box around Xi Jinping’s corruption crackdown has long fueled political gossip in China. Now, an underground market is emerging for selling purported secrets on who might be next to fall.

(8) Toms Kreicbergs worked on Wall Street before returning to his native Latvia, where he writes science fiction and engages in an enterprise almost as fanciful: trying to get more of his fellow citizens to invest in the stock market. In countries big and small, the European Union is chasing a dream: Its savers, with €11 trillion stashed in bank accounts, will finally develop a lust for stock and bond markets and pump money into businesses across the region, powering both European growth and their own prosperity.

Podcast Conversation: China Pioneered 90-Second Microdramas, and Hollywood Wants In

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