Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) The Bank of Japan raised its benchmark interest rate in a split decision showing dissent within the board as it confronts mounting inflation risks and unusually explicit calls for further policy normalization from Washington.

(2) The European Central Bank must get inflation under control as failing to do so would endanger economic expansion, Governing Council member Ante Zigman warned.

(3) After the early optimism of Andy Burnham’s premiership, the UK’s new prime minister now finds himself right where he didn’t want to be: at the mercy of bond markets.

(4) DoubleLine Capital chief executive Jeffrey Gundlach warned that the next US downturn could trigger a debt crisis that sends long-term Treasury yields sharply higher — defying decades of conventional wisdom that bonds will always serve as safe haven during times of economic strife.

(5) The Trump administration will allow the core members of an Iranian delegation to travel to the United Nations in New York for the General Assembly next week, the State Department said, even as the US and Iran remain at war in the Middle East.

(6) ExxonMobil Holdings Corp. says the world is on course for rapid global temperature increases as coal use persists, pushing emissions beyond mid-century climate goals.

(7) It's the start of London Fashion week - haute couture sitting alongside high street and emerging young designers.

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

On today's podcast:

(1) A year ago, when Kevin Warsh was angling to lead the Federal Reserve, he called out the central bank for keeping interest rates too high and touted a technological revolution that would spur growth without driving inflation.

(2) The Bank of England is expected to hold interest rates as it waits for more evidence that a fresh bout of inflation risks a damaging wage-price spiral.

(3) Britain’s monarch plans to ask some of the most critical figures in artificial intelligence for reassurances the technologists can keep their inventions under control.

(4) President Donald Trump floated hitting goods imported from the European Union with fresh tariffs or even cutting off some trade if he determined that a push to make Canada a potential associate of the bloc was harmful to the US.

(5) Europe is set for one of its smallest ever potato harvests after a succession of heat waves and lingering drought battered the water-hungry staple.

(6) The central square in Kozani has what you’d probably expect from a small Greek city. There’s an Orthodox church, the mayor’s office and a crop of tavernas and cafes. There’s little to suggest it lies at the heart of a transition that the country has a lot riding on.

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

On today's podcast:

(1) Tensions between Russia and Europe are intensifying after a string of security incidents across the continent. The growing tensions between the EU and Russia come as Ursula von der Leyen delivers her State of the European Union speech this morning

(2) Senior Trump administration officials met Tuesday with Anthropic PBC’s top Washington executive to discuss artificial intelligence safety risks.

(3) The Federal Reserve is expected to lift interest rates on Wednesday for the first time since 2023 as policymakers lose confidence that inflation will cool sufficiently without at least a nudge from the central bank.

(4) Prospects for an extension to the US-China trade truce are solidifying as the two sides discuss slashing tariffs on goods including American energy and agricultural products ahead of the leaders’ summit next week.

(5) Swiss voters are set to reject a proposal to tighten the country’s neutrality this month, preserving the government’s freedom to interpret the doctrine flexibly.

(6) Across Germany, government bodies are surveying the country's healthcare systems and infrastructure to see how — or if — they would stand up in a defense scenario against Russia.

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

On today's podcast:

(1) Nvidia Chief Executive Officer Jensen Huang took a live phone call from Donald Trump during a panel discussion Monday, allowing the US president to dismiss artificial intelligence dangers as a “hoax.”

(2) The US 10-year Treasury yield surpassed 5% for the first time since 2023 on Monday, as mounting inflation angst collided with swelling government and corporate borrowing needs.

(3) President Donald Trump’s daughter-in-law said a Russian oligarch paid for “two incredible nights of celebration” in the Bahamas after her wedding to Donald Trump Jr. but was not involved in the actual nuptials, amid fresh ethics questions involving the first family.

(4) President Donald Trump and Ukraine offered differing accounts of a supposed agreement with Russia to stop attacks on energy infrastructure, as strikes on oil refineries help drive diesel prices to record levels.

(5) The US Supreme Court refused to clear the Postal Service to enforce new restrictions on mail-in ballots for the congressional midterm elections, rebuffing the Trump administration’s request to intervene after several states launched early voting.

(6) Prime Minister Andy Burnham is considering whether to help Saudi Arabia counter attacks from the Houthis in Yemen amid UK concerns about a worsening economic hit from the escalating conflict.

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

On today's podcast:

(1) OpenAI CEO Sam Altman has stepped up calls to slow the development of the most powerful AI systems, putting him directly at odds with President Trump. Writing on social media this morning, Altman said no amount of American competitive pressure should justify recklessness.

(2) Sweden’s election will go down to the wire, the tightest in its history, and one that will hinge on the complete counting in coming days of late-arriving ballots and votes from overseas.

(3) Oil pushed higher as Saudi Arabia’s closure of a major crude pipeline following attacks jolted the market, with the move disrupting a route that’s been key to bypassing the Strait of Hormuz during the US-Iran war.

(4) The locomotive of a passenger train traveling from Kyiv to Warsaw was hit by a Russian drone just kilometers from the Polish border on Sunday morning. The attack happened minutes after another train carrying European officials including former Swedish Prime Minister Carl Bildt and former UK Prime Minister Boris Johnson left the station on the way back from an annual conference in Kyiv.

(5) Prime Minister Andy Burnham says Britain needs a “culture shift” to make it easier to start companies and reward risk-taking, as he sought to quell the concerns of business leaders before next month’s budget.

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