Bloomberg Daybreak: Europe Edition

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 – we preview the Federal Reserve's rate decision and big tech earnings
In the UK – we look ahead to the Bank of England's upcoming rate decision
In Asia – we discuss the Golden Week holiday in Japan
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Oil rose for a fifth day as concerns grew that the US and Iran were making little progress toward resuming talks on de-escalation, keeping the Strait of Hormuz effectively closed.

(2) President Donald Trump said Israel and Lebanon will extend their ceasefire by three weeks, a move that creates space to work on a long-term deal and removes a roadblock to ending the US war with Iran.

(3) The European Union warned member states that efforts to strengthen safeguards in the bloc’s trade agreement with the US may cause the deal to unravel.

(4) European Union leaders signaled that preliminary conditions are in place for Ukraine to begin the first stage of the membership process, a boost for Ukrainian President Volodymyr Zelenskiy’s efforts to join the bloc.

(5) Meta Platforms Inc. and Microsoft Corp. are planning cuts or announcing buyouts that could affect as many as 23,000 jobs, part of an effort to streamline operations and offset heavy spending on artificial intelligence.

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On today's podcast:

(1) Oil rose for a fourth day as the US and Iran remained locked in a battle for control of the Strait of Hormuz after failing to meet for a fresh round of peace talks.

(2) Tesla anticipates billions of dollars in additional spending this year to support Elon Musk’s ambitions to transform the electric-vehicle pioneer into an AI and robotics company.

(3) The Swiss government outlined plans that would add billions of dollars to UBS' capital requirements, deepening a showdown with the lender over its proposed banking reforms.

(4) European Central Bank Chief Economist Philip Lane said there’s a logical fiscal case for the region’s nations to issue joint bonds, though such a move would need to be underpinned by trust.

(5) UK workers were hit with the highest increase in tax rates on wages of any wealthy country last year, according to a new report, as the Labour government has come under pressure to lighten Britain’s tax burden.

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

On today's podcast:

(1) President Donald Trump announced he was extending a ceasefire with Iran indefinitely a day before it was set to expire, even as plans for a fresh round of talks between the two countries fell apart.

(2) The world’s top oil traders warned that the ongoing closure of the Strait of Hormuz is increasing the risk of a global recession as fuel demand takes a hit.

(3) Forty-eight hours of brutal public inquiry into Keir Starmer’s judgement have left the prime minister looking increasingly like a leader on his way out.

(4) The biggest question facing Kevin Warsh was answered before he even reached the committee room Tuesday when President Donald Trump doubled down on a criminal probe that is effectively blocking his own nominee from taking over at the Federal Reserve.

(5) A small group of unauthorized users have accessed Anthropic PBC’s new Mythos AI model, a technology that the company says is so powerful it can enable dangerous cyberattacks, according to a person familiar with the matter and documentation viewed by Bloomberg News.

(6) The Gates Foundation said it is awaiting findings from a review of its past interactions with Jeffrey Epstein amid public scrutiny of co-founder Bill Gates’ ties to the disgraced financier.

(7) Audi has lost its way, and nowhere is the problem bigger than in China. Audi’s decline is emblematic of the existential crisis foreign brands face in the world’s largest car market, where consumers are shifting to local manufacturers led by BYD and Geely Automobile.

Podcast Conversation: Ferrari Sets Price for First Electric Car at Around €550,000
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Apple Chief Executive Officer Tim Cook will hand the reins to hardware boss John Ternus later this year, capping a 15-year tenure that turned the company into a $4 trillion business spanning watches, video streaming and financial services.

(2) Keir Starmer did what he could to get through a parliamentary showdown over his handling of the Peter Mandelson scandal. His fate may now rest with a bureaucrat little known outside Westminster.

(3) President Donald Trump said he’s not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to conclude a deal to end the war.

(4) European Central Bank President Christine Lagarde said two main factors around the Iran war are hampering efforts to map out a monetary-policy response.

(5) Chancellor Friedrich Merz said his government rejects “hostile and aggressive tactics” in Germany’s banking industry after Commerzbank AG formally rejected UniCredit SpA’s takeover bid.

(6) Elon Musk snubbed a summons by French prosecutors investigating how AI chatbot Grok was allowed to spew out sexually explicit deepfakes and Holocaust-denying content, according to Agence France-Presse.

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