Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) World leaders head to Turkey today for the UN's COP31 climate conference amid growing concern over extreme and erratic weather. This year is on course to become the hottest in modern history and a record-breaking El Niño is amplifying global warming.

(2) Across Europe, governments, industries and citizens are in a second major energy crisis in less than five years, having never fully recovered from the first — 2022’s brutal gas price shock that followed Russia’s invasion of Ukraine.

(3) CoreWeave eased fears about its debt-laden business during a high-stakes quarterly report, indicating that sales growth remains strong despite challenges facing the data center industry.

(4) Andy Burnham’s government won’t accept so-called dynamic alignment of the UK’s financial services rules with those of the European Union, a stance that raises questions about the premier’s wider ambitions for closer ties.

(5) British police have arrested a US Army soldier on suspicion of being involved in a Russian espionage operation in a case that involved both UK and American authorities.

(6) Secretary of State Marco Rubio touted a productive first day of US-mediated talks between Russia and Ukraine to end their war, now in its fifth year, saying that President Donald Trump’s administration and Europe have the same goals in mind.

(7) A hotter than expected US inflation print has traders around the world ramping up bets on rate hikes. A US Core CPI rose by 0.3% last month, topping estimates.

Podcast Conversation: Sony Bets on Homegrown Anime to Fuel Decades of Future Growth
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Nvidia’s general counsel intervened in a US government probe of suspected smuggling of AI chips by Megaspeed International, questioning whether the Trump administration played a role in detaining an executive from the Singapore-based firm who’s now at the heart of a scandal threatening Jensen Huang.

(2) Though it’s not uncommon to see cultlike tech CEOs who obsess over details, Huang is in a class of his own. He has led the business since its very beginning 33 years ago, the longest such run in Silicon Valley. And even as Nvidia grew into one of the world’s most powerful companies — with a stock return of more than 700,000% — there’s still no one designated to potentially replace him.

(3) Anthropic sent out and retracted a filing that appeared to show it was aiming to raise as much as $69.3 billion ⁠through an initial public offering, Reuters said.

(4) President Donald Trump said further strikes on Iran wouldn’t be necessary but the US remains “locked and loaded,” an indication that he’s winding down the conflict after Republicans’ midterm elections loss underscored its deep unpopularity.

(5) Russian and Ukrainian envoys will discuss territorial issues and proposals for ceasefire monitoring in the United Arab Emirates this week, according to a senior US official, as a new round of negotiations to end the war gets underway.

(6) Insurers are taking steps to limit their exposure to the risk of losses tied to a wave of street protests in cities across Europe.

(7) China’s trade surplus ballooned to just over $1 trillion for the year despite the biggest surge in imports since 2021, with an increasingly lopsided relationship with the European Union accounting for nearly a third of the overall imbalance.

(8) Taiwan's people are coming to grips with the growing risk that Beijing poses to the status quo and quietly preparing for an invasion, according to interviews with two dozen individuals from different walks of life, ranging from an excavator operator to a diplomat. Paradoxically, this possibility is often coupled with the inability to imagine it might actually happen.

Podcast Conversation: Reality TV’s Newest Viewers Are Here To Make Money
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Nvidia Chief Executive Officer Jensen Huang admitted he had an affair with a woman identified in a series of reports as a suspected Chinese spy, plunging the chip colossus into a crisis like none before in its three-decade history.

(2) UBS Chief Executive Officer Sergio Ermotti said the sweep of Democrats in the US midterm elections could trigger a slowdown in the construction of artificial intelligence capacity.

(3) Andy Burnham plans to travel to Dublin this week for a meeting of the European Political Community, as the British prime minister’s push to reopen the Brexit debate revives old divisions.

(4) US Secretary of State Marco Rubio played down the chances of a breakthrough in talks on ending the conflict with Iran, saying Tehran’s demands to date are unacceptable and in some cases “outrageous and ridiculous.”

(5) Poland’s deadliest shooting in decades left the country shaken and searching for answers among its deepening political divisions.

(6) Reducing Europe’s dependence on imports, particularly from China, has become an urgent issue as the materials increasingly get used as economic leverage. The European Union has earmarked dozens of strategic projects for development under its Critical Raw Materials Act, with estimated costs of over €43 billion.

Podcast Conversation: One of Classical Music’s Biggest Stars Says AI Is Degrading Our Taste
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Republicans and Democrats moved the boundaries of Congressional districts in an effort to bolster support ahead of the US midterms. But the blue wave of Democrat gains saw the partisan manipulation of maps largely fail to deliver. Our Opinion columnist Mary Ellen Klas joins Stephen Carroll to discuss.
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Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to U.S CPI data, with a focus on 3 stocks for the week ahead. They include: Paramount Skydance (PSKY) Hims & Hers (HIMS) and TakeTwo Interactive (TTWO)
In the UK – a look ahead to Ireland’s biggest summit ever.
In Asia – a look ahead to China's Singles Day holiday.

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