Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz, according to a joint statement carried by the Oman News Agency, as the two sides press ahead with long-running talks over navigation through the key waterway.

(2) The Trump administration is discussing additional trade penalties against Canada after Prime Minister Mark Carney unveiled dollar-for-dollar retaliation to new tariffs imposed by the US on Saturday.

(3) Treasury Secretary Scott Bessent’s surprise plan to tamp down US borrowing costs by expanding bond buybacks may have sparked fierce debate about its ultimate effectiveness, but key market metrics and positioning show that it’s having an impact.

(4) Nvidia will deliver its quarterly earnings report on Wednesday, updating investors on the state of the AI industry’s massive data center expansion — and the company’s efforts to remain at the center of that frenzy.

(5) Meta and state attorneys general have discussed a possible mid-trial settlement of a blockbuster case accusing the company of deliberately designing Facebook and Instagram to addict teens, people familiar with the matter said.

(6) The images of thousands of people swimming into the Spanish territory of Ceuta from Morocco at the end of July were seen around the world. As politicians trade barbs in cities far away, Ceuta is still grappling with the real-life consequences of that day.

Podcast Conversation: Dolly Parton, the effervescent and glamorous “Queen of Country” who emerged from extreme poverty in rural Tennessee to become one of America’s most distinguished songwriters and wealthiest self-made women, has died. She was 80.
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Treasury Secretary Scott Bessent threatened economic punishment against any country doing business with Iran as part of what he called an “economic D-Day” campaign to isolate the Islamic Republic and end nearly six months of war.

(2) UK Prime Minister Andy Burnham said he and other European leaders plan to travel to the US next month to lobby President Donald Trump to let Ukraine access some of its Patriot air defense missile stocks ahead of the winter.

(3) The UK became the first foreign nation to gain access to Ukraine’s vast trove of battlefield data in a deal designed to train artificial intelligence models and develop fresh military capabilities.

(4) The trade war between the US and Canada erupted into an extraordinary exchange of insults and threats between President Donald Trump and Doug Ford, the leader of Ontario.

(5) Treasury Secretary Scott Bessent refrained from any further signals on revamping US debt management on Monday, following a report that his department could draw down some of its cash pile to fund buybacks of higher-yielding older securities.

(6) Saudi Arabia plans to build a theme park complex near Paris that will include at least one area dedicated to Japanese manga comic books.

(7) Recruiters are facing a problem they may have once wished for: Every resume is perfect. Artificial intelligence tools have made it easy to submit a flawless job application, so employers are bringing back traditional techniques to sift through candidates.

Podcast Conversation: More Cheese, Please — Japan’s Guilty Consumption
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Prime Minister Mark Carney’s government sees little chance of resuming talks with President Donald Trump before the midterm elections after trade negotiations collapsed, according to people familiar with the matter.

(2) Oil dropped after two weeks of gains, with the market waiting to see the US economic isolation plan for Iran due to be released later Monday.

(3) It’s a crucial week for markets, with investors looking to Fed Chair Kevin Warsh’s comments at Jackson Hole, Wyoming, for clues on the path for interest rates as elevated oil prices stoke inflation pressures and bond yields soar to multi-decade high.

(4) Ukraine offered Russia a truce on attacks against ships carrying agricultural commodities through the Black Sea, but Moscow rejected the deal because it wanted guarantees against strikes on its energy infrastructure, Ukrainian President Volodymyr Zelenskyy said.

(5) Donald Trump’s family is on the verge of having its very own bank. t’s now easier than at any time in almost 20 years to get a national bank charter, thanks to the Trump administration’s deregulation push.

(6) Investment in UK financial technology firms fell to the lowest level since at least 2016 in the first half of this year, as funders flock to companies tied to artificial intelligence and can show long-term growth.

Podcast Conversation: Retailers Want AI to Solve Online Shopping’s Biggest Problem
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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 Fed Chair Kevin Warsh’s speech in Jackson Hole and earnings from chip giant, Nvidia.
In the UK – a look ahead to a key meeting of French business leaders as they count down to a pivotal Presidential election.
In Asia – a look ahead to Tokyo inflation
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The US equity market is in bubble territory, with metrics such as the Shiller cyclically adjusted price-to-earnings ratio, the real equity risk premium, and the Buffett Indicator pointing to overvaluation.

(2) Anthropic expects to match or beat the size of SpaceX’s record-setting initial public offering, according to people familiar with the matter, in the latest sign of overwhelming demand from investors looking to profit from the artificial intelligence boom.

(3) Treasury Secretary Scott Bessent said that he’s prepared to expand efforts to buy back costlier debt and that the administration will be unveiling a new fiscal initiative to address the highest borrowing costs in year

(4) Oil headed for a substantial weekly gain, as a US push to isolate Iran’s economy raised the specter of further market disruption.

(5) France’s fiscal deficit would widen by at least 0.5% of economic output if political divisions prevent the adoption of a 2027 budget before presidential elections, the state’s finance auditing body cautioned.

(6) British consumers are more confident than at any point since Labour took power two years ago, further evidence that the national mood has improved since Andy Burnham took over as prime minister in July.

Podcast Conversation: How Dachshunds Became One of the World's Hottest Breeds
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