Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) UK unemployment reached its highest since the pandemic and wage growth eased as the labor market continued to weaken, prompting traders to increase bets on further interest-rate cuts from the Bank of England.

(2) Iranian Foreign Minister Abbas Araghchi held talks with the head of the UN’s atomic watchdog in Geneva on Monday, ahead of a second round of nuclear negotiations with the US.

(3) BHP Group posted earnings at the upper end of analyst expectations, as a years-long effort to shore up copper production combined with a historic metals rally to offset a lackluster period for its giant iron ore business.

(4) Elon Musk’s SpaceX and wholly owned subsidiary xAI are competing in a secretive new Pentagon contest to produce voice-controlled, autonomous drone swarming technology, according to people familiar with the matter.

(5) The UK government abandoned plans to cancel local elections scheduled for May in 30 areas, after the move sparked a fierce backlash including a lawsuit from Nigel Farage’s populist Reform UK party.

(6) Secretary of State Marco Rubio showered Viktor Orban with praise on a visit to Hungary as the US doubled down on its support for the strongman leader before an election that could bring an end to his 16 years in power.

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

On today's podcast:

(1) Iranian Foreign Minister Abbas Araghchi held talks with the head of the UN’s atomic watchdog in Geneva on Monday, ahead of a second round of nuclear negotiations with the US.

(2) BHP Group posted earnings at the upper end of analyst expectations, as a years-long effort to shore up copper production combined with a historic metals rally to offset a lackluster period for its giant iron ore business.

(3) Elon Musk’s SpaceX and wholly owned subsidiary xAI are competing in a secretive new Pentagon contest to produce voice-controlled, autonomous drone swarming technology, according to people familiar with the matter.

(4) The UK government abandoned plans to cancel local elections scheduled for May in 30 areas, after the move sparked a fierce backlash including a lawsuit from Nigel Farage’s populist Reform UK party.

(5) Secretary of State Marco Rubio showered Viktor Orban with praise on a visit to Hungary as the US doubled down on its support for the strongman leader before an election that could bring an end to his 16 years in power.

Podcast Conversation: Why ‘Burnout’ Feminism Is Replacing the Girlboss, Lean In Era
See omnystudio.com/listener for privacy information.

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

On today's podcast:

(1) Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values.

(2) The European Union’s top diplomat Kaja Kallas rejected the picture of the bloc’s decline painted by the Trump administration and urged member states to accelerate Ukraine’s membership bid as a sign of the bloc’s power.

(3) Warner Bros Discovery is considering reopening sale talks with rival Hollywood studio Paramount Skydance Corp. after receiving its hostile suitor’s most recent amended offer, people with knowledge of the matter said.

(4) John Hurley, the Trump administration’s top sanctions official, is set to leave his post after friction with Treasury Secretary Scott Bessent, according to people familiar with the matter.

(5) Great Britain took their record gold medal tally to three at the Winter Olympics in Italy over the weekend.

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Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values.
The double-edged message offered some reassurance to allied leaders gathered at the Munich Security Conference but did little to temper their push for more independence from Washington.
“We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.”
“What is it that binds us together? Ultimately, it’s the fact that we are both heirs to the same civilization, and it’s a great civilization,” he said. “It’s one we should be proud of.”
Rubio’s comments elaborated on a speech he delivered to the event, Europe’s premier annual security gathering, earlier Saturday morning. The speech was the most anticipated of the three-day conference, with fellow leaders eager to hear if he would double down on the contemptuous tone voiced a year earlier by Vice President JD Vance at the same venue.
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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 what to expect from homebuilders in the months ahead along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to UK jobs data.
In Asia – a look ahead to the Lunar New Year Holiday in China.
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