Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) Voters across the US go to the polls today, passing judgment on the first half of Donald Trump's second term. All 435 House seats and 35 Senate seats are being contested as well as 36 State governor races. Republicans currently control both chambers of congress -- but polls point to significant Democratic gains that could flip those majorities.

(2) Supermarkets across Europe were hit by suspected cyberattacks that resulted in sudden changes in the temperatures of their fridges and freezers on Monday, echoing a more widespread problem in France last month.

(3) Iran President Masoud Pezeshkian said his government has been granted more authority by the country’s supreme leader to pursue peace talks, as President Donald Trump hinted at progress in negotiations.

(4) Gold is trading slightly lower today, after its biggest jump in two months yesterday as hopes of progress in US-Iran peace talks eased inflation anxiety. Despite the pressure from oil and interest rates, demand from a key group of buyers has remained strong.

(5) Walt Disney is moving toward thousands of job cuts with the entertainment giant asking some managers to target 20% in annual cost savings, according to people familiar with the matter.

(6) Apple delivered a mixed outlook to investors in its first quarterly report under Chief Executive Officer John Ternus, with narrower profit margins overshadowing an upbeat sales forecast.

(7) Six months after his resounding defeat of Orbán’s Fidesz party, Magyar is moving as fast as he can. That includes combing through mountains of files seeking evidence of corruption or theft of public money on Orbán’s watch.

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

On today's podcast:

(1) Recent artificial intelligence related market stumbles have somewhat burst the bubble of infallibility around the sector, said Howard Marks, co-chair of Oaktree Capital Management.

(2) Russia's emergencies ministry said on Monday that a "massive cyberattack" hit its application, designed to warn people of incoming drone attacks and other threats.

(3) US officials are promoting a plan for Russia to resume sales of natural gas to Europe via pipelines running through Ukraine, the Wall Street Journal reported.

(4) Mass demonstrations in Germany that passed largely peacefully on Saturday erupted in violence as night fell and rioters faced off against police in Frankfurt, Cologne, Hamburg and Berlin.

(5) Representative Haley Stevens, who lost the Democratic primary for Michigan’s US Senate seat, backed Republican candidate Mike Rogers, breaking with Democratic nominee Abdul El-Sayed and exacerbating a split between progressives and moderate party members.

(6) After crossing the finish line of the Mexico City Grand Prix behind race winner Max Verstappen and Lewis Hamilton, F1 history-maker Kimi Antonelli placed his hands on the steering wheel and his voice cracked as he said, “We did it, we did it.”

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From the worlds of art and creativity to international business and strategy, this episode explores how cultural fluency can become a competitive edge. Hear from Phyllis Kao, Vice President of Luxury and Auctioneer at Sotheby's; Alan Gilpin, CEO of World Rugby; Judy Liu, co-founder of Trinity Asia; and Maggie Ng, CEO of HSBC Hong Kong on how to feel at home across different cultural and geographical contexts.

This episode is sponsored by HSBC.

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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 October jobs report, along with a focus on 3 stocks for the week ahead. They include: Apple, Palantir and Airbnb.
• In the UK – a look ahead to the next Bank of England monetary policy decision.
• In Asia – a look ahead to the next Reserve Bank of Australia rate decision.

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

On today's podcast:

(1) Christine Lagarde will leave the European Central Bank with one victory notched up over inflation, camaraderie restored among policymakers and the euro on track to join the digital age.

(2) The Bank of Japan held its benchmark interest rate unchanged while indicating for the first time that underlying inflation has reached its 2% target, a milestone that opens the door to a hike as soon as December.

(3) Technology shares sold off for a second consecutive day as another round of disappointing earnings accelerated a rotation out of the artificial intelligence trade and drove investors toward haven assets such as Treasuries. Crude oil gained.

(4) Binance, the world’s largest crypto exchange, said $6.3 billion of funds are involved in what the industry is describing as crypto’s biggest-ever hack. Digital tokens fell.

(5) When the taps suddenly run dry in the low-slung house that Sharlene Smith shares with her ailing mother in Westbury, Johannesburg, the 59-year-old South African is forced to leave the safety of their property, and cross dangerous territory in search of water.

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

On today's podcast:

(1) Chancellor of the Exchequer John Healey defended his first budget against criticism that it lacked ambition, while warning Britain would face “hard decisions” about its spending priorities in the years ahead.

(2) Federal Reserve Chairman Kevin Warsh on Wednesday left the central bank on track to raise interest rates again this year, even as he stuck to his refusal to offer any explicit guidance on the future path of policy.

(3) Traders haven’t increased bets on tightening by the European Central Bank recently despite more upside in oil prices. That’s bad news for the euro.

(4) Technology stocks trimmed their losses as the European session neared, after disappointing earnings from two industry heavyweights earlier revived doubts over whether billions of dollars in AI spending will deliver sufficient returns. Oil fell.

(5) Oil dropped as traders assessed fresh diplomatic efforts in the Middle East to avert a potential restart of US military strikes on Iran.

Podcast Conversation:Healey Defends Scale of UK Budget And Warns Hard Decisions Ahead

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

On today's podcast:

(1) Israeli Prime Minister Benjamin Netanyahu and opposition leader Gadi Eisenkot are neck and neck in the first election since the 2023 Hamas attacks, setting up a tense period of negotiations over who will form the next government.

(2) - Oil rose on a report the US may resume military strikes on Iran after next week’s midterms, and as traders tracked a tight Israeli election.

(3) UK Chancellor of the Exchequer John Healey said his first budget would deliver “breathing space” for Britain, as Andy Burnham’s new administration seeks to sustain a poll bounce at minimal cost.

(4) Bullish bets in US Treasuries are vulnerable to a sharp reversal if the Federal Reserve takes a more aggressive stance at its upcoming monetary policy meeting.

(5) Brazilian senator Flávio Bolsonaro arrived in Miami on Tuesday after fleeing his country following a defeat in its presidential election, O Globo reported.

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

On today's podcast:

(1) Anthropic's initial public offering is laying bare the extremes of the multi-trillion-dollar AI boom business model: extraordinary growth paired with uncertainty about demand and the spending required to continue developing the technology

(2) A trio of mega artificial intelligence financing deals announced Monday morning had one name in common: Goldman Sachs.

(3) HSBC shares fell more than 5% in Hong Kong after the bank posted earnings that fell short of estimates in the third quarter and kept its outlook for the rest of year unchanged.

(4) Israel is holding its first election since the 2023 Hamas attack that traumatized the nation and triggered the wars in Gaza, Lebanon and Iran, a vote many consider to be the country’s most consequential in decades.

(5) Markets sold off in record fashion after Lula's win, fueled by fears that he will pursue tepid measures to address Brazil's fast-deteriorating fiscal situation, with high interest rates suffocating the economy and households drowning in record debt.

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

On today's podcast:

(1) President Luiz Inácio Lula da Silva came from behind to win Brazil’s runoff election, halting a right-wing wave sweeping Latin America and defying predictions that the 80-year-old political veteran had finally reached the end of his extraordinary career.

(2) Serbian longtime leader Aleksandar Vucic surprisingly conceded defeat in a snap vote, handing victory to a student-led movement that built mass support by pledging to fight graft and reverse democratic backsliding.

(3) France avoided a repeat of large-scale violence and looting that marred nationwide protests a week ago, suggesting the government’s decision to boost police numbers and contain marches paid off.

(4) Venezuelan opposition leader María Corina Machado arrived in Caracas Sunday night, capping a daylong journey through five states that drew crowds of supporters and raised expectations for a return to democracy.

(5) Elon Musk said SpaceX has closed a $40 billion debt deal to pay for the chips needed to fuel its artificial intelligence ambitions. People familiar with the discussions, though, told Bloomberg News that talks over pricing were still ongoing.

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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 next monetary policy decision from the Federal Reserve, along with U.S tech earnings.
• In the UK – a look ahead to the UK's annual budget.
• In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.

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

On today's podcast:

(1) The artificial intelligence trade stayed on the back foot as investors rotated out of one of the year’s hottest themes and sought safety in bonds. Adding to the pressure, crude oil extended its gains.

(2) French authorities are bracing for a new round of protests Saturday, rolling out the military to back up police in a bid to prevent a repeat of last weekend’s riots and reassure markets unnerved by the violence.

(3) There's a growing divide over how much further the European Central Bank will raise rates, as oil remains above $110 a barrel.

(4) Banks, airlines and governments across Europe, Asia and the Americas are pulling down websites to avoid being hacked. Artificial intelligence models helped to find vulnerabilities in a commonly used programming language called PHP.

(5) UK consumer sentiment plunged in October as soaring fuel prices brought home the scale of the cost-of-living hit from the Middle East conflict.

(6) Britons looking for a flavor of the upcoming first budget of Andy Burnham’s UK government need look no further than the descriptors emanating from Chancellor of the Exchequer John Healey and his officials at the Treasury: Do no harm. Steady as she goes. Focused.

(7) President Donald Trump spoke to SpaceX Chief Executive Officer Elon Musk and asked him to lift restrictions on his company’s Starlink satellite system, the Wall Street Journal reported Thursday.

(8) With a fresh infusion of cash to his super political action committee in the first two weeks of October, Elon Musk has now given more than $445 million in the current election cycle and become one of the biggest-ever contributors to such groups.

Podcast Conversation: AI Agents Are Coming for Bank’s Easy Money

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Your morning briefing.

All the news you need to start your day.On today's podcast:

(1) The yield on benchmark French debt hit 5% for the first time since 2002 as rising energy prices exacerbated concern over the country’s fiscal outlook.

(2) The US State Department issued an ordered departure for non-emergency personnel and their families from Saudi Arabia because of the growing threat from Houthi militants in neighboring Yemen.

(3) Meta Platforms Chief Executive Officer Mark Zuckerberg told investors that a pricey wager on artificial intelligence is delivering results, setting the stage for the company to bet even more aggressively on the market

(4) Tesla pulled back its spending plans after investment last quarter trailed expectations, clouding Elon Musk’s effort to transform the electric vehicle maker into an AI and robotics company

(5) European car sales growth accelerated last month, extending a run of gains this year as buyers turn to electric cars, with Chinese manufacturers capturing much of the increase.

(6) The European Union reached a provisional agreement to overhaul rules governing the bloc’s securitizations markets, a deal that would unleash billions of euros to finance initiatives in key areas such as defense and climate resilience.

(7) UK banks have stepped up lobbying attempts against the prospect of higher taxes, warning of the hit to growth and lending, but many investors have already priced in the risk.

(8) Years of war and sanctions are making it harder for Russia's oil producers — including Rosneft, the nation’s largest — to maintain volumes today while developing reserves for tomorrow.

Podcast Conversation: The Saxophone Is Back After Decades in the Pop Music Wilderness

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

On today's podcast:

(1) A recent slowdown of the SpaceX’s Starlink satellite system that enables Ukraine to fend off deadly Russian aerial assaults came from an order by Elon Musk, the company’s chief executive officer, the Wall Street Journal reported on Tuesday.

(2) Volodymyr Zelenskyy sought to draw a line under the escalating feud with the US after meeting with Donald Trump’s envoys in Oslo, while the US president kept up pressure on Kyiv.

(3) Elon Musk capitalized on a strong quarter of earnings at SpaceX to openly press for combining the business with Tesla Inc. in what would be the biggest merger of all time.

(4) Billionaire Ken Griffin said investors are “almost certainly” in the midst of an artificial intelligence bubble as many companies are still grappling with just how much they’ll spend on the technology and how it will transform the economy.

(5) There’s a risk the ongoing French bond rout escalates into a euro-area debt crisis that eclipses the blowup that began in Greece nearly two decades ago, warned Franklin Templeton’s fixed-income investment chief.

(6) More than half of Britons think markets could severely lose confidence in the UK within five years. The poll from Ipsos and the National Institute of Economic and Social Research found respondents expect tax hikes in the coming budget.

(7) Italian Prime Minister Giorgia Meloni heads into next year’s election with no plans to broaden her coalition to include the new far-right National Future party, said one of the co-founders of her Brothers of Italy party.

Podcast Conversation: For Racers and the Rich, Caldwell Is Nordic Ski's Gear Guru

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

On today's podcast:

(1) German Chancellor Friedrich Merz warned against complacency over the dangers posed by Russia, saying that President Vladimir Putin is seeking to not only defeat Ukraine, but to also undermine democracy in Europe.

(2) Ukrainian officials say they suspect the US is intermittently restricting intelligence sharing despite Trump administration denials, allowing Russian projectiles to strike Ukraine without warning — including in a ballistic missile attack on Sunday.

(3) French protests largely died down after authorities rolled out tougher security measures, including targeted curfews, following cost-of-living protests over the weekend that degenerated into violence, vandalism and looting.

(4) Vinted, a secondhand online marketplace that counts France as one of its largest markets, has seen an influx of listings suspected to contain looted items after riots broke out across the country.

(5) Shares of data-center infrastructure company Elice Inc. plunged in their trading debut, underscoring lingering concerns about whether the artificial intelligence boom can justify the billions of dollars being poured into the industry.

(6) Chancellor John Healey will not increase capital gains tax in the Budget next week, in a decision that will relieve business leaders who warned ministers against such a move.

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

On today's podcast:

(1) French President Emmanuel Macron said the country felt anger and shame following widespread violence over the weekend and called for order to be restored.

(2) Ukrainian President Volodymyr Zelenskyy accused Donald Trump of trying to pressure Kyiv into surrendering to Russia, escalating a week-long row with the US president.

(3) Russia’s Vladimir Putin proposed a meeting with President Donald Trump and China’s Xi Jinping next month to discuss ending the war in Ukraine, the Wall Street Journal reported Sunday.

(4) The euro fell against most of its Group-of-10 peers as tensions in Ukraine escalated, and widespread protests in France deepened worries about the country’s fiscal health.

(5) The UK set out plans for work placements in the professional services and construction sectors as ministers work to get a grip on the country’s youth unemployment crisis.

(6) A couple of hundred miles along the Mediterranean coast from Antalya, where Turkey is hosting next month’s COP31 climate summit, sits Adanalioglu Beach. Along its sands, fingernail-sized pieces of shredded plastic in bright, artificial colors regularly wash ashore.

Podcast Conversation: ‘Live Audiobook’ Events Turn Reading Into a Night Out

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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 US housing data, with a focus on 3 stocks for the week ahead.
• In the UK – a look ahead to a key summit in Berlin.
• In Asia – a look ahead to a monetary policy decision from the Bank of Korea.

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

On today's podcast:

(1) Federal Reserve Chairman Kevin Warsh did nothing to dispel market expectations that the US central bank will hold interest rates steady when it meets at the end of the month. -Bank of England Governor Andrew Bailey said there is little evidence yet of inflation becoming embedded in UK price and wage-setting. European Central Bank Governing Council member Olli Rehn said policymakers will have additional information at the final rate decision of the year, while suggesting the current policy approach is working.

(2) UK Chancellor of the Exchequer John Healey is set to raise taxes on banks to fund cost-of-living support for voters and stabilize the public finances, as he looks for sources of revenue that won’t violate Labour Party campaign pledges.

(3) The European Union is preparing to create new trade powers that could completely shut off access to its single market as part of a dramatic new push to cut the trade deficit with China.
(4) President Donald Trump didn’t order any limitations on Ukraine’s access to SpaceX’s Starshield satellite technology, according to a senior US official.

(5) Three children, ages 5, 8 and 11, and one teacher were killed by a shooter Thursday at an elementary school in Bend, Oregon, according to Police Chief Mike Krantz.

(6) The EU will require luxury companies to report how many unsold products they've destroyed and why, starting next March, which could lead to a backlash from customers and give competitors sensitive information.

Podcast Conversation: Tesla Showcases Long-Awaited Roadster With Aerial Tricks

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

On today's podcast:

(1) A global equity selloff deepened as chip stocks plunged on Wall Street and in Asia, further unwinding this year’s blistering rally in the artificial intelligence trade. Treasuries gained on haven demand, while the dollar weakened.

(2) Anthropic told prospective investors its third-quarter revenue hit $16.8 billion, according to people familiar with the matter, as the artificial intelligence company pushes ahead with plans to go public.

(3) Ukraine will resume strikes on Russian oil refineries in response to deadly attacks by Moscow, President Volodymyr Zelenskyy told the FT. The move comes after the Ukrainian president accused US President Donald Trump and Elon Musk of restraining Kyiv’s military access to SpaceX’s satellite technology, deepening a rift between Washington and Kyiv.

(4) After getting China to accept limits to its car exports, the European Union is already eyeing follow-up action in other industries — setting up their next trade clash.

(5) UK Chancellor John Healey said he will “stay the path” on plans to bring down borrowing over the next few years as he welcomed the International Monetary Fund’s support for the government’s fiscal plans ahead of the budget. Whether or not John Healey’s Treasury has run a numbered list, they have been both disciplined and agile in knocking down damaging ideas. This Budget may have been dubbed “beige” in this interview on Bloomberg Radiowith Barclays Chief UK Economist Jack Meaning

Podcast Conversation: A Guide to Navigating UK Leasehold Laws That Still Await Reform

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

On today's podcast:

(1) An employee at OpenAI was arrested and charged with using a hidden recording device in one of the company’s San Francisco offices, according to statements from the artificial intelligence company and the US Justice Department.

(2) Many of Britain’s large businesses are ready to replace staff with artificial intelligence over the next year, according to a prominent survey of chief financial officers.

(3) Saudi Aramco’s executive headquarters in eastern Saudi Arabia was hit during a missile attack by Yemen’s Houthi militants on Tuesday, causing a fire in a part of the complex, the kingdom’s energy ministry said.

(4) Bank of England Governor Andrew Bailey said that while the impact of the energy-cost shock from the US-Iran war on broader UK inflation has been limited so far, it’s getting harder to avoid.

(5) The head of MI5 warned Britons must be resilient in the face of “escalating” Russian hybrid warfare, as the UK’s domestic security service devotes more resources to hostile state threats than during the Cold War.

(6) Swiss lawmakers have backed a new special tax for systemically important banks, in the latest blow to the country’s largest lender UBS Group AG.

(7) The initial report from the independent regulator of UK football paints a devastating picture of a sport facing a financial crisis unless it changes course.

(8) Six months into a war that sowed upheaval in the Persian Gulf, Qatar found itself stuck. By late August, even limited shipments from the gas heavyweight had all but stopped following a projectile attack on one of its tankers outside the Strait of Hormuz. Pressure was growing, not only from energy-starved clients but also from inside an economy built on regular deliveries.

(9) Rory McIlroy cast doubt on LIV Golf surviving bankruptcy to continue on as a competitor to the PGA Tour. “It’s hard,” McIlroy said at the Bloomberg New Economy Forum in New Delhi. “It looks like every day that goes by, there’s another player that was on LIV that says that they’re not going to rejoin for LIV 2.0.”

Podcast Conversation: Kalshi's Inflation Whale Beats Wall Street, Month After Month

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

On today's podcast:

(1) A global slide in semiconductor stocks deepened, sending South Korea’s chip-heavy equity benchmark down 7% as concerns about AI overheating and Chinese competition intensified.

(2) Globally, comparisons between the subprime episode of 2008 and today’s AI investment boom are being drawn because of the yawning imbalances that underpin both.

(3) Big US bank stocks are teetering in correction territory as the group kicks off earnings Tuesday, heightening the focus on executives’ outlook for the American consumer with long-term borrowing costs the highest in decades.

(4) The International Monetary Fund said global growth should pick up next year with a boost from AI investment, but warned the world economy is nearing the limits of its resilience as the energy squeeze persists and financial risks build.

(5) French high school students are set to hit the streets on Tuesday, extending their movement into a third week with no clear response from policymakers to their demands in sight.

(6) A barrage of drone and missile attacks on Saudi Arabia has intensified pressure on Washington to step up efforts to help its close ally battle Iran-backed Houthi militants in neighboring Yemen.

(7) UK Prime Minister Andy Burnham said Iran’s Islamic Revolutionary Guard Corps was “almost certainly” responsible for an alleged terror plot at a British airbase used by the US.

(8) Prime Minister Peter Magyar galvanized Hungary with his vision of a national makeover following the Viktor Orban era. Now comes the tough task of delivering the economic centerpiece of that plan: a credible road map for euro adoption.

Podcast Conversation: Prints Democratize Art — and Can Also Be Collector's Items

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