Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) Treasury Secretary Scott Bessent announced the US and China have sealed a two-month extension to their trade truce, as Xi Jinping landed in America for his first state visit in eleven years.

(2) The Chinese government has taken possession of potentially sensitive F-35 stealth aircraft parts that were inexplicably diverted to Hong Kong while being sent to the US from Australia, people briefed on the incident said.

(3) Canadian Prime Minister Mark Carney said he’d looked at “extreme tail risk” when asked by the New York Times about whether he’d taken seriously the risk of US military action against his country.

(4) An OpenAI model hacked an Australian government website earlier this year, marking one of the first known cyberattacks by AI on a government database.

(5) Meta Platforms unveiled a palm-sized, dedicated gadget for using Muse, the company’s popular new artificial intelligence assistant, pushing deeper into the AI devices market with a surprise announcement.

(6) The losses in the US Treasuries market intensified on Wednesday as robust economic data and a weak debt auction drove yields across most maturities to the highest levels in almost two decades.

(7) UK Prime Minister Andy Burnham hinted he doesn’t want his government to repeat the tax rises of recent Labour budgets, as Chancellor of the Exchequer John Healey prepares for a tricky financial statement on Oct. 28.

(8) Less risky than cocaine: the counterfeit cigarette industry is proliferating across Europe as rising taxes on tobacco products create an increasingly lucrative market for organized crime.

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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 US officials had “very good” talks with Iranian envoys in New York, reviving fragile hopes for a new diplomatic off-ramp hours after he again threatened to annihilate the country.

(2) US President Donald Trump criticized a UK deal over the Chagos Islands during his first-face-to-face meeting with Prime Minister Andy Burnham, dealing a blow to the British leader in an otherwise warm encounter.

(3) Donald Trump dismissed calls for an international agreement to put guardrails around the development of artificial intelligence, brushing off concerns about the dangers of frontier models going rogue.

(4) With next month’s budget looming, an influential group of backbench MPs has mooted a solution to the shortsightedness besetting UK policy making.

(5) Traders are shielding themselves from the possibility that the Federal Reserve raises interest rates less than markets are currently pricing in.

(6) The man tipped to become Morocco’s next prime minister made a bold promise as he addressed a campaign rally under a traditional tent near Casablanca: “The World Cup final will be here in Ben Slimane province, whether they like it or hate it,” Fouzi Lekjaa declared to applause.

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

On today's podcast:

(1) Global AI stocks rallied, with Taiwanese shares returning to a record high, as early signs of success for Meta Platforms Inc.’s personal agent revived optimism over demand for chips.

(2) The UK has agreed to support Saudi Arabia’s military in countering the Houthis, as the kingdom comes under frequent attack from the Iran-backed militants.

(3) French President Emmanuel Macron said he discussed the idea of a moratorium on deep strikes against energy assets between Ukraine and Russia at a meeting with Donald Trump in New York.

(4) The UK has agreed to support Saudi Arabia’s military in countering the Houthis, as the kingdom comes under frequent attack from the Iran-backed militants.

(5) China and the EU should find a way to avoid a confrontation over trade, Foreign Minister Wang Yi said — comments that come as a deadline to find solutions to the two sides’ differences approaches.

(6) During the Cold War, the Soviet Union’s smallest republic was an electronics and tech center for the Communist superpower. Now Armenia is on track to become one of the world’s top hubs for American AI infrastructure.

Podcast Conversation: UN Scrambles to Avoid a Repeat of Trump’s 2025 Escalator Snafu
See omnystudio.com/listener for privacy information.

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

On today's podcast:

(1) Global AI stocks rallied, with Taiwanese shares returning to a record high, as early signs of success for Meta Platforms Inc.’s personal agent revived optimism over demand for chips.

(2) The UK has agreed to support Saudi Arabia’s military in countering the Houthis, as the kingdom comes under frequent attack from the Iran-backed militants.

(3) French President Emmanuel Macron said he discussed the idea of a moratorium on deep strikes against energy assets between Ukraine and Russia at a meeting with Donald Trump in New York.

(4) The UK has agreed to support Saudi Arabia’s military in countering the Houthis, as the kingdom comes under frequent attack from the Iran-backed militants.

(5) China and the EU should find a way to avoid a confrontation over trade, Foreign Minister Wang Yi said — comments that come as a deadline to find solutions to the two sides’ differences approaches.

(6) During the Cold War, the Soviet Union’s smallest republic was an electronics and tech center for the Communist superpower. Now Armenia is on track to become one of the world’s top hubs for American AI infrastructure.

Podcast Conversation: UN Scrambles to Avoid a Repeat of Trump’s 2025 Escalator Snafu
See omnystudio.com/listener for privacy information.

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

On today's podcast:

(1) Friedrich Merz said he would stay put as German chancellor even after his party suffered its worst-ever result in a state election, with a tally showing the conservatives crashing out of a regional assembly for the first time in the country’s post-World War II history.

(2) US Treasury Secretary Scott Bessent lauded “very successful” talks with his Chinese counterparts on artificial intelligence, trade and investment, while China described the discussions as positive ahead of this week’s summit between leaders Donald Trump and Xi Jinping.

(3) Ukrainians are already drawing up contingency plans for what threatens to be the worst wartime winter yet.

(4) Qatari Energy Minister Saad Al-Kaabi said Treasury Secretary Scott Bessent was “wrong” when he said that the strategic Strait of Hormuz will be worthless in two years.

(5) Citigroup Chief Executive Officer Jane Fraser said that companies are racing to build up their defenses as artificial-intelligence models become even more powerful and risk spurring cyber attacks.

(6) Tue Vuong, chief executive officer of Golden Wheat, was told his wheat shipments from the Black Sea wouldn't get shipped due to the escalation in Russia's war with Ukraine.

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