Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) A new AI automation tool from Anthropic PBC sparked a $285 billion rout in stocks across the software, financial services and asset management sectors on Tuesday as investors raced to dump shares with even the slightest exposure.

(2) Almost half a trillion dollars has been wiped off cryptocurrencies in less than a week as a selloff led by Bitcoin accelerated. Total crypto market value has slumped by $467.6 billion since Jan. 29, according to CoinGecko data.

(3) The European Union will pitch the US on a critical minerals partnership to curb China’s influence, looking to shape the Trump administration’s push to strike global agreements this week.

(4) London’s Metropolitan Police has started a criminal probe into Peter Mandelson over alleged misconduct in public office, after the UK government said it had referred communications between him and Jeffrey Epstein to the authorities.

(5) Novo Nordisk A/S shocked investors by forecasting a steep decline in sales this year, a sign of how intensifying price wars in obesity drugs and the Trump administration’s pressure on pharmaceutical prices will hit the company’s results.

Podcast Conversation: What happens when the Winter Olympics can’t rely on winter
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Your morning briefing. All the news you need to start your day

On today's podcast:

(1) Elon Musk is combining SpaceX and xAI in a deal that values the enlarged entity at $1.25 trillion, as the world’s richest man looks to fuel his increasingly costly ambitions in artificial intelligence and space exploration.

(2) Documents released by the US Department of Justice appear to show that Britain’s Peter Mandelson leaked sensitive government information to disgraced financier Jeffrey Epstein while serving as a minister.

(3) France’s parliament adopted a budget for 2026 after Prime Minister Sebastien Lecornu survived two no-confidence votes Monday, bringing the curtain down on months of political upheaval that’s rattled investor confidence in the country.

(4) The UK government is increasingly concerned that more protectionist policies pursued by the European Union could exclude British companies from supply chains in key sectors, derailing a reset in post-Brexit relations and potentially costing firms billions of pounds.

(5) President Donald Trump said he would roll back punitive tariffs on India in return for an agreement that Prime Minister Narendra Modi would stop buying Russian oil, easing months of tension between the two countries.

Podcast Conversation: From New York to London, There's Now a Martini on Every Menu

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

On today's podcast:

(1) Peter Mandelson, Britain’s former ambassador to the US, resigned from the UK’s ruling Labour Party to avoid causing it “further embarrassment” after the latest revelations about his links to the disgraced financier Jeffrey Epstein.

(2) Gold extended losses, after its biggest plunge in more than a decade on Friday, as silver also sank deeper, reversing a record-breaking rally that appeared to have run too far, too fast.

(3) Prime Minister Keir Starmer said he still wants the UK to join the European Union’s flagship €150 billion ($178 billion) defense fund after negotiations last year ended in failure.

(4) Iran’s supreme leader warned of a “regional war” as tensions continued to mount over potential US strikes on Tehran and top Israeli military officials visited Washington.

(5) British engine maker Rolls-Royce Holdings Plc has halted a plan backed by millions in government funding to put a mini nuclear reactor on the Moon, the Telegraph reported.

Podcast Conversation: The Em Dash Wars: How LinkedIn Users Are Policing AI Writing
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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 January jobs report and U.S tech earnings.
In the UK – a look ahead to the 2026 winter Olympic games.
In Asia – a look ahead to Japan’s snap election and a monetary policy decision from the Reserve Bank of Australia.

- Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview the January jobs report in the U.S.
- Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, to preview U.S tech earnings.
- Tommaso Ebhart, Bloomberg’s Milan Bureau Chief, to preview 2026 olympic games.
- Paul Jackson, Bloomberg EcoGov Editor for Japan/Koreas, to preview snap Japan election.
- James McIntyre, Bloomberg Economist for Australia and New Zealand, to preview RBA decision.

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Breaking news from the White House.

President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote. “On top of everything else, he is ‘central casting,’ and he will never let you down.”

Warsh, who served on the US central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.

If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.
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