Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) The US said Israel and Lebanon agreed to a ceasefire if Hezbollah also stops fighting, the latest attempt by the Trump administration to keep peace talks with Iran on track as political opposition to the war intensifies.

(2) The Republican-led House voted to halt the US war with Iran, breaking with President Donald Trump on an unpopular foreign conflict that is taking an escalating economic toll on Americans.

(3) A group of Ukraine’s key European allies are working on plans with Kyiv to engage Russia in negotiations to end the war as they see a shift in momentum strengthening President Volodymyr Zelenskyy’s position.

(4) UK Business Secretary Peter Kyle warned his Labour colleagues against pursuing redistribution of wealth without first prioritizing economic growth, as the party faces a potential tilt to the left if Keir Starmer is replaced as prime minister.

(5) Some members of the billionaire Glazer family have been debating whether to sell their stake in Manchester United FC, after more than 20 years of ownership that has often been blighted by fan protest, people familiar with the matter said.

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

On today's podcast:

(1) The US is proposing new tariffs of at least 10% on imports from 60 trading partners following an investigation into goods allegedly produced by forced labor, as President Donald Trump seeks to rebuild the sweeping tariff wall struck down by the US Supreme Court.
(2) The EU will set out on Wednesday how the 27-country bloc hopes to slash its dependence on American and Asian technology, and favour European digital alternatives.
(3) British members of parliament are calling on the government to end a major deal with Palantir Technologies Inc. and disclose more details of a military contract with the company, as UK political tension involving the controversial data firm ramps up.

(4) SpaceX aims to sell 555.6 million shares ​at $135 apiece for its record-breaking $75 ​billion ⁠initial public ​offering, Reuters reported, citing an unidentified person familiar with the matter.

(5) A month after President Donald Trump announced — and then abandoned — a plan to escort commercial ships through the Strait of Hormuz, the US military is trying less public ways of protecting vessels in the vital waterway.
(6) Vitol’s top executive in the Middle East said that many Western governments still aren’t reckoning with the oil supply crunch that’s rippling around the world due to the blockade of the Strait of Hormuz.
(7) Revolut is aiming for a near-$200 billion initial public offering within the next two years, which could hand its founder and CEO Nikolay Storonsky around $76 billion in stock.

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

On today's podcast:

(1) President Donald Trump and Israeli Prime Minister Benjamin Netanyahu offered differing accounts of a call about the fighting in Lebanon, as the US struggled to get efforts toward an Iran peace deal back on track.

(2) The European Commission is weighing plans to grant member states additional fiscal flexibility to cope with the impact of high energy costs due to the Iran War, according to people familiar with the discussions.

(3) Senior government officials have warned Russian President Vladimir Putin that spending on the war in Ukraine is on an unaffordable path, the most serious sign of internal division in Moscow since the full-scale invasion began.

(4) Google parent Alphabet is raising $80 billion through a package of equity offerings, including an investment deal with Berkshire Hathaway, as the company races to fund its ambitious artificial intelligence spending plans.

(5) Britain was still grappling with the explosion of government debt accumulated during the Napoleonic Wars and the industrial revolution was beginning to transform the world. In 1834, the UK had 90 taxes in place with duties on everything from servants to stage coaches.

(6) UK Sotheby’s International Realty has been the talk of London’s luxury property market over the past three years. But alongside the firm’s rapid expansion sit allegations of harassment and bullying from current and former employees, revealed by Bloomberg for the first time.

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

On today's podcast:

(1) Stocks rose to a record as investors doubled down on the artificial intelligence trade that’s powered equities to all-time highs. Oil climbed as a US-Iran ceasefire deal remained elusive.

(2) The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear whether the sides were making much progress.

(3) Europe is rushing to rearm but needs time and clarity from the US to do so, Germany’s Chief of Defense Carsten Breuer said in an interview with Bloomberg TV on the sidelines of the Shangri-La Dialogue defense conference.

(4) Andy Burnham, the Greater Manchester mayor who wants to replace Keir Starmer as UK prime minister this summer, has left open the possibility that he could call an early general election if he wins power.

(5) Congo’s Ebola outbreak is being detected across a widening swath of the country’s conflict-hit east as health authorities struggle to trace exposed contacts and determine the true scale of the epidemic.

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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 the May jobs report, along with a focus on three stocks for the week ahead.
In the UK – a look ahead to what comes next in the Ukraine war following fresh EU funds to Ukraine.
In Asia – a look ahead to Australia GDP data.
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