Bloomberg Daybreak: Europe Edition

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

On today's podcast:

(1) The fears had shadowed Wall Street off and on for months. Then, all at once, everyone rushed for the exits. The hardest hit were the companies at the heart of the artificial-intelligence boom.

(2) Jensen Huang got an expensive taste of the Democratic Party’s newfound political power Thursday. The Nvidia Corp. CEO’s net worth fell by $15.1 billion to $150.9 billion as stocks tumbled. Other big losers were SpaceX’s Elon Musk and Oracle Corp. co-founder Larry Ellison.

(3) Japan’s Nikkei 225 Stock Average slumped Friday, putting the tech-heavy gauge on course to enter a technical bear market as investors unwind artificial intelligence-related trades.

(4) Bloomberg Economics modelled what an AI market crash might look like. If the S&P 500 were to drop by 20%, it could wipe 1.6 trillion dollars from global GDP.

(5) Hedge Fund strategies designed to behave independently suddenly lost money in lockstep, exposing crowded positions, heavy leverage and vulnerabilities that had been easier to overlook during the long ascent of AI-linked stocks.

(6) Bank of England Governor Andrew Bailey said another interest-rate hike is more likely than not if the high energy costs seen in recent weeks return.

(7) French protests over the cost of living showed no signs of losing steam on Thursday, raising the pressure on the government as it struggles to push a budget through parliament.

(8) The hackers who stole $6.3 billion from Binance last week found a way to take 40% of the stolen cryptocurrency in one hit, reducing their chances of being caught in the act, and it cost them just $15.

(9) More than 10 flights were forced to divert or were searched by authorities after European airlines suffered a second wave of bomb threats in a week.

Podcast Conversation: Goldman Traders Say Phones ‘Are Exploding’ as AI Selloff Worsens
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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The Republican Party’s generational collapse in this week’s midterm elections ushered in a wave of finger-pointing largely aimed at the Oval Office, exposing deep fissures within the party and opening the door for 2028 hopefuls to hone their message.

(2) Elon Musk’s Texas-based empire is coming under investor scrutiny after Democrats clinched unlikely wins in his adopted state on their way to taking control of Congress.

(3) Wall Street’s biggest trading desks are urging clients to increase their exposure to US stocks, betting that lackluster investor positioning leading up to the midterm elections has created room for a year-end rally.

(4) France is bracing for a day of strikes and demonstrations over the cost of living, extending more than a month of protests, as parliamentary talks over next year’s budget remain deadlocked.

(5) The Bank of England looks ready to raise interest rates by a quarter point to 4%, its first hike in more than three years.

(6) Artificial intelligence skills are no longer optional for the hundreds of thousands of young Britons seeking their first job, according to data from recruitment platforms that show how the technology is deciding who gets a foothold in the toughest labor market in decades.

(7) From an apartment building in Romania to a parked car in Lithuania, drones from the war in Ukraine have increasingly been inflicting damage along NATO’s eastern flank this year. The heightened risk is now spawning a small, but growing area of the insurance business.

Podcast Conversation: I’m a Proud Prepper and You Should Be Too

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