Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) The far-right Alternative for Germany scored its best-ever result in a state election on Sunday amid growing public discontent with the political establishment, delivering a powerful blow to Chancellor Friedrich Merz.

(2) Russian Foreign Minister Sergei Lavrov accused Germany of moving toward a direct confrontation with Russia as he criticized Berlin’s decision to close some diplomatic offices after a drone incident at Leipzig airport.

(3) Ukraine is resigned to Russia’s war dragging on through another tough winter and is looking for a “package” from allies that would cover air defense reinforcements as well as energy, including US LNG.

(4) Iran and the US carried out what appeared to be their largest tit-for-tat tanker strikes yet over the weekend, pushing oil prices higher as both nations continue to escalate a six-month war that has disrupted shipping and stoked global inflation.

(5) John Healey plans to put regional growth at the heart of his economic vision, while vowing fiscal discipline, in his first major speech as chancellor of the exchequer on Monday.

Podcast Conversation: The British Restaurant Invasion Sweeping the US: Review
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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 U.S CPI and PPI reports and a focus on 3 stocks for the week ahead.
In the UK – a look ahead to the next decision from the European Central Bank.
In Asia – a look ahead to the 18th BRICS Summit in India.
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US job growth surged in August and the unemployment rate held steady, suggesting the labor market has more momentum than previously thought. Nonfarm payrolls increased 162,000 last month and July’s job losses were revised away, according to Bureau of Labor Statistics data out Friday. The August increase topped all estimates in a Bloomberg survey. The unemployment rate remained at 4.1%.
Bloomberg's Tom Keene and Damian Sassower get reaction from:
Claudia Sahm, Chief Economist at New Century Advisors, brings us into the jobs report
Amy Wu Silverman, Head: Derivatives Strategy at RBC, reacts to today's jobs report
Kristina Campmany, Senior Portfolio Manager at Invesco, talks about the bond market's reaction to jobs
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Volkswagen's supervisory board backed a sweeping restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint, giving Chief Executive Officer Oliver Blume his clearest mandate yet to overhaul Europe’s biggest carmaker.

(2) Reform UK leader Nigel Farage’s hopes of using a keynote speech at his party’s annual convention to arrest a slide in opinion polls were upended after two of his closest allies were covertly filmed discussing avoiding electoral law to secure foreign donations.

(3) OpenAI Chief Executive Officer Sam Altman says top artificial intelligence developers have fumbled at communicating the benefits of the technology, leaving the industry vulnerable to growing backlash from communities around the world.

(4) South Korea has begun preparations for a possible deployment of a naval support ship and troops to the Strait of Hormuz, local media reports said, as President Donald Trump ramped up pressure on the US ally over its lack of support for the war with Iran.

(5) At the Marché International de Rungis, the giant wholesale food market known as “The belly of Paris,” cheese supplier Philippe Ammiche finds it increasingly difficult to navigate the endless stacks of boxes from Italy.

Podcast Conversation: Gen Z’s Distaste for Bubbly Booze Remakes Canned Cocktail Market
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) Europe is nearing the end of summer with a low natural gas buffer, threatening to intensify a global fight for supply.

(2) As Britain’s borrowing costs rise and hostilities flare between the US and Iran, the sums for Chancellor of the Exchequer John Healey’s debut budget are getting trickier by the day.

(3) European officials vowed to boost Ukraine and penalize Russia as tensions flared following Germany’s accusation that Moscow tried to sabotage a local airport.

(4) Broadcom predicted a boom in artificial intelligence chip sales over the next two years, helping renew optimism that it can challenge Nvidia Corp.’s dominance in the lucrative market.

(5) Driverless taxis have been operating in US cities like San Francisco and Los Angeles for a while now, but the higgledy-piggledy, rainy streets of London present a far greater challenge.

Podcast Conversation: Does Splurging on Joy Give You a Guilt Hangover?
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