Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) Oil fluctuated after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the military campaign in Iran even if the vital Strait of Hormuz remains largely closed.

(2) An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai early on Tuesday in one of the most significant attacks on a vessel in a month of war, pushing oil prices higher and heightening tension around the vital Strait of Hormuz.

(3) Iran is pushing the Houthis to prepare for a renewed campaign against Red Sea shipping, contingent upon any further escalation by the US in its war on the Islamic Republic, according to European officials familiar with the matter.

(4) Secretary of State Marco Rubio said the US may need to reassess its relationship with NATO after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing.”

(5) China’s factory activity expanded for the first time this year despite higher energy prices and disruptions caused by the escalating conflict in the Middle East.

(6) UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets.

(7) Russia’s main security agency is expanding its sweeping surveillance powers, deepening the state’s reach into economic and social life to suppress any risk of dissent to President Vladimir Putin.

Podcast Conversation: Dubai's Nightmare Scenario Is Getting Closer

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

On today's podcast:

(1) President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating.

(2) Attacks in the Middle East conflict extended into a fifth week Sunday, with Israel striking Tehran and Saudi Arabia intercepting almost a dozen drones, a day after Yemen-based Houthi militants entered the war.

(3) Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears the widening conflict will cause further chaos for energy markets.

(4) UK Chancellor of the Exchequer Rachel Reeves will urge Group of Seven partners to boost domestic energy supplies and warn the recent surge in oil and gas prices is playing into Vladimir Putin’s hands.

(5) French authorities detained two new suspects in connection with a foiled bombing near the Bank of America office in Paris, which officials have said is likely linked to the conflict in the Middle East.

(6) Once a global hub for entry-level jobs, London is now the epicenter of a growing youth joblessness crisis that is threatening to blight the futures of hundreds of thousands of people and fuel a backlash against Prime Minister Keir Starmer’s Labour government in key municipal elections in just over a month.

Podcast Conversation: America Is Depleting a Bigger Weapon Than Missiles: Max Hastings
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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 March jobs report in the U.S and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the upcoming South Africa Investment Conference.
In Asia – a look ahead to South Korea shareholder meetings.

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

On today's podcast:

(1) President Donald Trump again pushed back his deadline for Iran to strike a deal with the US or face more attacks, saying talks with the country were going “very well.” Sources have told the Wall Street Journal that the US is considering sending up to 10,000 additional ground troops to the Middle East.

(2) UK Prime Minister Keir Starmer suggested he won’t be bullied by Donald Trump in a further demonstration of how the US president’s war on Iran has frayed the so-called special relationship between their two countries.

(3) Britons are saving more and cutting back on big-ticket items in an effort to ride out the economic fallout from the Iran conflict, according to a closely watched survey.

(4) European Central Bank President Christine Lagarde warned of complacency in assessing the fallout of the conflict in the Middle East, according to an interview with The Economist.

(5) Bond traders, spooked by the prospect of the conflict in Iran escalating further, are looking to hedge against worst-case war outcomes that could force the Federal Reserve to raise interest rates in coming weeks.

(6) Consumers are responding to one of the largest disruptions in global oil markets by embracing low-carbon technologies that promise to lower gas and power bills. For many, the conflicts in Iran and Ukraine have driven home a harsh reality: the only path to energy security is going electric.

(7) London urgently needs more housing. The city’s population has increased by over half a million in the decade through 2023, bringing it to around nine million, yet homebuilding has fallen dramatically. Bloomberg's Damian Shepherd explains why.

Podcast Conversation: Amazon Offers Drivers Prizes to Say Why They Love Their Job
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The White House insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets.

(2) Even as Donald Trump pushes for talks to end the war against Iran, the US has ordered thousands of troops to the region, fueling fears that the president is gearing up for exactly the sort of risky ground invasion that he once campaigned against.

(3) Bloomberg's strategic energy team, BNEF, says the price of Brent crude could top $154 a barrel if the Strait of Hormuz remains closed until mid-June.

(4) The Italian government is set to cut its economic growth forecast, reflecting a hit from the war in the Persian Gulf.

(5) The threat of surging inflation has knocked UK consumer confidence to the lowest level recorded under Keir Starmer’s Labour government.

(6) A landmark jury verdict holding Meta Platforms and Alphabet’s Google liable for harming a young user with products designed to be addictive threatens to put the social networking companies in the same category as Big Tobacco and opioid makers — a potential crack in their shield from legal responsibility for what happens on their platforms.

(7) Slovakia became the world’s biggest per capita car producer along with the Czech Republic because of demand from auto companies for cheaper, skilled labor. Now war is turning the tiny nation into a critical ammunition powerhouse.

Podcast Conversation: The ‘Don Tzu’ Solution to Ending the Iran War
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