Bloomberg Daybreak: Europe Edition

Your morning briefing, the business news you need in just 15 minutes.On today's podcast: (1) Trains to and from Paris, including the international Eurostar service, were hit by what authorities called a "massive attack aimed at paralyzing the network" of France's super-fast trains just hours ahead of the inauguration ceremony of the 2024 Olympic Games. (2) UK Chancellor of the Exchequer Rachel Reeves is leaning toward offloading a substantial portion of the government's £5.6 billion stake in NatWest Group to institutional shareholders rather than continuing with her predecessor's plans to offer it up to the UK public, according to people familiar with the matter. (3) NatWest shares soared after it boosted its forecast for full-year revenue as the lending giant continues to reap some benefits from stubbornly high interest rates. (4) Wagers on aggressive easing by the Fed have been rising in recent days amid debate over whether the central bank should act when it meets next week. Former New York Fed President Bill Dudley told Bloomberg that US policymakers should reduce rates at that gathering. (5) JPMorgan has launched a generative artificial intelligence tool and told employees to think of it as a research analyst that can offer information, solutions and advice, according to an internal memo viewed by Bloomberg. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) wagers on aggressive easing by the Fed have been rising in recent days amid debate over whether the central bank should act when it meets next week. Former New York Fed President Bill Dudley told Bloomberg that US policymakers should reduce rates at that gathering. (2) The assumptions that have driven this year's global financial markets are being rapidly rethought. In bond and currency markets, investors are racing to redeploy money amid mounting doubt over the outlook for the US economy, (3) Hermès sales jumped in the second quarter as the Birkin bag maker weathered the luxury demand slowdown better than peers, thanks to its reliance on the wealthiest clients. (4) UK Chancellor of the Exchequer Rachel Reeves is leaning toward offloading a substantial portion of the government's £5.6 billion stake in NatWest Group to institutional shareholders rather than continuing with her predecessor's plans to offer it up to the UK public, according to people familiar with the matter. (5) With the Summer Games set to open, organizers say they expect a flurry of additional cyberattacks. They have many reasons to worry. Russia, for one, is shut out of the Games. Geopolitical tensions in the Middle East and the South China Sea are running high, and cybercriminals continue to bombard corporate computer networks with hacking attempts. 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 Joe Biden framed his momentous decision to drop out of the 2024 race as a bid to unify the nation under a new generation of leaders, in his first speech since ending his reelection campaign and political career. (2) Donald Trump attacked Democrats on abortion, seeking to position himself as a moderate voice on the issue as he pivoted to a new general election challenger, Vice President Kamala Harris. (3) Investors soured on the promise of artificial intelligence Wednesday, sparking a $1 trillion rout in the Nasdaq 100 Index as questions swirled over just how long it will take for the substantial investments in the technology to pay off. (4) Chancellor of the Exchequer Rachel Reeves will tell international counterparts that Britain is “open for business” on her first overseas trip since taking office, as she continues the new Labour government’s push for growth. (5) Thames Water asked regulators to help it avoid massive fines after it was downgraded to junk by Moody’s Ratings, adding to the financial pressure on Britain’s biggest water supplier. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Deutsche Bank said it will most likely refrain from conducting a second share buyback this year, after suffering its first quarterly loss in four years. (2) BNP Paribas equities traders for the first time ever made more money than their fixed-income colleagues, highlighting the unit's growth over the past several years. (3) Euro-area private-sector activity barely grew this month as its top economy unexpectedly slumped. S&P Global's composite Purchasing Managers' Index fell to 50.1 in July, according to data published Wednesday. (4) Tesla reported another quarter of disappointing profit and confirmed a highly anticipated unveiling of autonomous taxis has been postponed, putting the carmaker's furious stock rally at risk. (5) The UK's new prime minister Keir Starmer has suspended the party whip from seven of his own MPs after they backed a rebel amendment to scrap Britain's two-child cap on welfare payments, the first rebellion he's faced in the House of Commons since winning power. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Tesla reported its fourth straight quarter of disappointing profits on Tuesday, and Chief Executive Officer Elon Musk made clear that better days are still a ways off. (2) Google parent Alphabet reported second-quarter revenue that exceeded analysts’ expectations, boosted by demand for cloud-computing services and advertising on its search engine. (3) LVMH sales growth slowed last quarter as wealthy shoppers reined in spending on pricey Louis Vuitton handbags and Christian Dior couture. (4) Vice President Kamala Harris assailed Republican Donald Trump in her first rally since launching her bid for the White House, characterizing their contest as a choice between two starkly divergent agendas for the US economy. (5) The UK’s new prime minister Keir Starmer has suspended the party whip from seven of his own MPs after they backed a rebel amendment to scrap Britain’s two-child cap on welfare payments, the first rebellion he’s faced in the House of Commons since winning power. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Kamala Harris has more than enough pledged delegates to clinch the Democratic presidential nomination, following an extraordinary two-day blitz that saw the vice president consolidate her party’s backing to challenge Donald Trump in November. (2) Vice President Kamala Harris, the clear favorite for her party’s presidential nomination after potential rivals lined to up back her, has a deep bench of Democratic rising stars to draw from in choosing her running mate. (3) The sudden elevation of Vice President Kamala Harris as the Democratic front-runner injects fresh uncertainty into the US election for world leaders already grappling with the implications of Donald Trump’s potential return to the presidency. (4) The European Union’s foreign policy chief said he plans on moving an August meeting of the bloc’s foreign and defense ministers from Budapest to Brussels to protest Viktor Orban’s diplomatic forays. (5) Prime Minister Keir Starmer’s ambition to lift UK economic growth to 2.5% a year is expected to be dealt a blow when the Bank of England releases new forecasts next week. (6) Porsche cut its full-year revenue forecast, saying a shortage of aluminum parts could cause it to stop production of some models. 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 Joe Biden abandoned his reelection bid, bowing to relentless pressure from Democrats to drop out over fears he was too feeble to beat Donald Trump and injecting fresh chaos into the 2024 election. (2) Notable Democrats including Bill and Hillary Clinton and former Labor Secretary Robert Reich were quick to endorse Kamala Harris as the party’s presidential candidate after Joe Biden dropped out of the race. (3) Investors have been amassing wagers on Donald Trump’s return to the White House for weeks, trimming holdings of long-term US bonds and buying Bitcoin, among other things. Now, they’re considering whether Joe Biden’s exit from the race boosts the odds of a Democrat victory — and how much they must re-calibrate their bets. (4) As California attorney general, Kamala Harris brought lawsuits against fossil fuel companies, prosecuted a pipeline company over an oil leak and investigated Exxon Mobil Corp. for misleading the public about climate change. (5) Xander Schauffele captured the British Open, shooting a 6-under 65 in the final round, which started with nine players separated by only three shots. With the win, Americans swept golf’s majors for the first time since 1982. See omnystudio.com/listener for privacy information.

Listen to the 'Here's Why' podcast: - on Apple: https://apple.co/3Lg3RGn - on Spotify: https://spoti.fi/3LiIX9q - or Anywhere: https://bit.ly/3xYsHHy. Each episode of 'Here's Why' uses experts at Bloomberg to explain one news story in just a few minutes. 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. 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 series of technical glitches disrupted services at airlines, banks and the London Stock Exchange on Friday, an unusually widespread cascade of failures that erupted from the US to Asia after Microsoft reported an outage across its online services. (2) Donald Trump delivered his first public address since surviving a failed assassination attempt, relating an incident in detail that he called "too painful to tell." (3) President Joe Biden's grasp on the Democratic presidential nomination appeared to be slipping Thursday, as he weighed increasingly public warnings from his party's top lawmakers while in isolation for a Covid-19 infection at his Delaware beach house. (4) Chancellor of the Exchequer Rachel Reeves warned "difficult decisions" lie ahead as she tries to fix Britain's public finances, raising the prospect of tax hikes or spending cuts in her first Budget in the autumn. (5) Englishman Daniel Brown is the surprise clubhouse leader going into the second round of the Open Championship golf. He's on 6-under par at Royal Troon, a stroke clear of 2019 winner Shane Lowry. See 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 delivered his first public address since surviving a failed assassination attempt, relating an incident in detail that he called "too painful to tell." (2) President Joe Biden's grasp on the Democratic presidential nomination appeared to be slipping Thursday, as he weighed increasingly public warnings from his party's top lawmakers while in isolation for a Covid-19 infection at his Delaware beach house. (3) For more than two years, inflation has eclipsed everything else at the Federal Reserve. In a shift eagerly awaited by global markets, that's poised to change. (4) Chancellor of the Exchequer Rachel Reeves warned "difficult decisions" lie ahead as she tries to fix Britain's public finances, raising the prospect of tax hikes or spending cuts in her first Budget in the autumn. (5) Englishman Daniel Brown is the surprise clubhouse leader going into the second round of the Open Championship golf. He's on 6-under par at Royal Troon, a stroke clear of 2019 winner Shane Lowry. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Joe Biden can’t catch a break. It seemed like things couldn’t get much worse for the president after he was diagnosed Wednesday with Covid-19, dashing his hopes of counter-programming the Republican National Convention by forcing him to cancel an appearance before a key Latino advocacy group. (2) Then, the dam broke. A flood of leaks detailed senior leaders in the Democratic Party warning Biden personally that he was unlikely to defeat Donald Trump and was putting his congressional allies at great risk. (3) Senator JD Vance’s debut speech as the Republican vice presidential nominee was a fiery demonstration of the most powerful assets he offers Donald Trump’s campaign: a stridently populist economic message tailored for key swing states and a symbol of generational change. (4) Keir Starmer spent the UK election campaign promising to reset Britain’s relationship with Europe after years of soured relations since Brexit. Just two weeks into his tenure, he’ll be able to immerse himself in that endeavor as he hosts over 40 of the continent’s leaders at Winston Churchill’s ancestral home on Thursday. (5) Federal Reserve Governor Christopher Waller said the economy is getting closer to a point where the central bank can reduce borrowing costs but indicated he’d like to see a “bit more evidence” inflation is on a sustained downward path. 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 Secret Service boosted security around former President Donald Trump after picking up intelligence in recent weeks of an Iranian plot to assassinate him, people familiar with the matter said, adding that the threat was separate from the attempt on his life last weekend. (2) Elon Musk said he will relocate the headquarters for X and SpaceX to Texas, a likely symbolic move that adds more fuel to the billionaire’s efforts to align himself with the political right and distance himself from left-leaning California .Musk made the announcement (3) Prime Minister Keir Starmer will flesh out Labour’s plans from border control to smoking as he sets out the new UK government’s legislative agenda for the coming Parliamentary session in a King’s Speech on Wednesday. (4) French President Emmanuel Macron appointed a caretaker government on Tuesday until negotiations to find a new prime minister bear fruit. (5) A growing number of Wall Street economists are cautioning the Federal Reserve is waiting too long to reverse course after raising interest rates to a two-decade high. See 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 tapped JD Vance as his running mate, elevating to the Republican presidential ticket a venture capitalist-turned-senator whose embrace of populist politics garnered national attention and made him a rising star in the party. (2) President Joe Biden defended his suggestion that Donald Trump should be “put in the bullseye” in an NBC News interview Monday following the assassination attempt on his Republican opponent. (3) Elon Musk is pledging to pour $45 million a month into a pro-Donald Trump political group, a move that would flood the Republican nominee’s reelection effort with cash through the November election. (4) Federal Reserve Chair Jerome Powell said second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank’s 2% goal, possibly paving the way for near-term interest-rate cuts. (5) The euro-area economy is gradually picking up and activity is on track to accelerate over the remainder of the year, European Economy Commissioner Paolo Gentiloni said on Monday. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Former President Donald Trump says he rewrote Republican National Convention speech to call for unity instead of focusing on President Joe Biden, he says in an interview with Washington Examiner. (2) President Joe Biden implored candidates to cool their rhetoric after the assassination attempt on Donald Trump, warning the nation was heading down a dangerous path in which violence subverts the will of Americans. (3) -The US Secret Service is facing harsh public scrutiny and investigations as the assassination attempt of former President Donald Trump thrusts an agency with a checkered past into the center of a political firestorm. (4) China's economy grew at the worst pace in five quarters as efforts to boost consumer spending fell short, piling pressure on Beijing to lift confidence at a twice-a-decade policy meeting this week. (5) England's 58 year wait for a trophy will continue after losing 2-1 to Spain in the Euro 2024 final last night. Gareth Southgate's side were aiming to become the country's first men's team to win a major trophy since 1966. 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. 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 Joe Biden vowed he would remain in the 2024 presidential race, but two critical mistakes in the span of two hours deepened concerns about his mental acuity that threaten his campaign. (2) US and German security services foiled a Russian plot to assassinate the chief executive officer of Rheinmetall AG, a German arms manufacturer producing weapons for Ukraine, people familiar with the matter said. (3) - President Emmanuel Macron sought to convince fellow NATO leaders in Washington this week that the political turmoil in France wouldn't affect his ability to support the military alliance's goals, particularly when it comes to Ukraine. (4) Federal Reserve Bank of Chicago President Austan Goolsbee described the latest inflation data as "excellent," adding the figures provided the evidence he's been waiting for to be confident the central bank is on a path to its 2% goal. (5) The UK's Labour Party was propelled to a landslide victory in last week's general election by voters with mortgages, a new study shows, suggesting a desire for change among homeowners who are facing higher borrowing costs. 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 Joe Biden faced mounting opposition within his own party Wednesday as a Senate Democrat joined a growing number of House lawmakers in calling on him to step aside. (2) UK regulators have overhauled their rules for companies looking to make their public debut in London, part of a concerted effort to draw more initial public offerings to the City. (3) Chancellor of the Exchequer Rachel Reeves faces the prospect of a budgetary hole worth as much as £30 billion pounds ($39 billion) that would hinder the ability of the UK's new government to fix the country's ailing public services. (4) Archegos Capital Management founder Bill Hwang was found guilty of criminal charges stemming from his firm's 2021 collapse, concluding a two-month trial that captivated Wall Street. (5) Ukraine is deploying an aerial arsenal of toy drones and duct-taped bombs to fight Russia as the economics of war changes. See 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 signaled Ukraine can use Britain’s Storm Shadow missiles to strike military targets inside Russia, confirming he would continue the previous UK government’s policy on the use of its long-range weapons in the Russia-Ukraine war. (2) Even as congressional Democrats argued Tuesday over whether to stand behind Joe Biden’s candidacy, the White House and lawmakers grasped for a unified strategy: trying to change the subject from the president’s mental acuity to Donald Trump’s policy goals. (3) French President Emmanuel Macron’s former prime minister, Edouard Philippe, called for parties of the center and center-right to join forces to form a new government as political jockeying gains steam in the aftermath of a snap election that has left the country’s parliament deeply divided. (4) Federal Reserve Chair Jerome Powell said officials are increasingly wary of potential risks to the labor market from high borrowing costs as they seek more evidence inflation is slowing down. (5) China’s consumer prices eked out another small gain in June, hovering near zero for a fifth month, a sign that deflationary pressures continue to impede an economic recovery. 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 Joe Biden has not undergone any special neurological testing since his annual physical in February, his physician said as the administration looked to quell concerns about frequent visits to the White House by a Parkinson’s specialist. (2) Joe Biden and NATO’s 31 other leaders had hoped their summit this week would celebrate fresh unity against Russia’s Vladimir Putin, send a warning to China and prove the alliance is as strong as ever in its 75th year. (3) A political shock in France has forced bond investors to confront the reality that the nation’s fiscal deficit is an issue for here and now, not years down the road. (4) Traders should brace for a significant pullback in the stock market as uncertainty swirls around the US presidential campaign, corporate earnings and Federal Reserve policy, according to Morgan Stanley’s Mike Wilson. (5) Archegos Capital Management founder Bill Hwang’s lawyer made his final pitch to a jury poised to start deliberating his fate, arguing the US government’s fraud and market-manipulation case over the meltdown of the prolific investor’s family office “makes no sense.” See omnystudio.com/listener for privacy information.