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

On today's podcast:

(1) The global economy faces a renewed challenge if the conflict that’s choked the Strait of Hormuz isn’t resolved in a matter of weeks, said International Energy Agency Executive Director Fatih Birol.

(2) A measure of sterling’s strength rose to its highest level in a year on Wednesday following reports that incoming UK Prime Minister Andy Burnham will name Shabana Mahmood as his Chancellor of the Exchequer.

(3) Russian soldiers only live an average of 20 to 30 minutes on the battlefield because of Ukraine’s artificial-intelligence attack drones, CIA Director John Ratcliffe said on Wednesday. 

(4)  JPMorgan CEO  Jamie Dimon said the risks raised by Anthropic PBC’s Mythos artificial intelligence model are a “real issue” that the US government is on top of now. 

(5)  The world's biggest hedge funds are tapping portfolio managers at smaller firms for ideas, paying for "buyside alpha" signals, and seeking out raw trading ideas from small managers.

(6) Europe's Coal Mines Claim Their Methane Emissions Have Plummeted. But Have They? 

Podcast Conversation: The Line Outside Is Almost More Famous Than the Food

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

On today's podcast:

(1) The US completed an additional round of strikes against Iran  hitting dozens of military targets near the Strait of Hormuz and Iranian coastal areas.

(2) President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz after US allies in the Gulf urged him to drop it.

(3) ASML lifted its annual sales forecast for the second time this year as a surge in artificial intelligence spending drives demand for the Dutch company’s chip-making machines. 

(4) Bank of England Governor Andrew Bailey said Britain needs to prioritize economic growth and maintain fiscal discipline, in a thinly veiled warning to incoming Prime Minister Andy Burnham 

(5) U-Test's brand ambassadors are online celebrities, including a former Welsh rugby player and an OnlyFans model, who promote the company's test kits for sexually transmitted infections and other health issues on social media. Some of U-Test's tests require medical knowledge and are labelled "for professional in vitro diagnostic use only", despite being marketed as "simple at-home tests" with instruction leaflets in dense technical language.

Podcast Conversation:These World Cup Tweets Show How AI Will Unite Us All

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

On today's podcast:

(1) The United States has carried out another round of strikes on Iran, after President Trump vowed to hit the country "hard". According to multiple reports, Trump has now formally notified Congress that the US is once again at war with Iran.

(2) President Donald Trump threw out a demand of a 20% reimbursement on cargo shipped through the Strait of Hormuz, or roughly $30 million on full supertankers carrying oil.

(3) Bond traders ramped up bets for a July interest-rate hike ahead of US inflation data and an appearance by the head of the Federal Reserve that stand to reinforce the need for action.

(4) The European Union failed to endorse a 21st sanctions package against Russia on Monday, putting the bloc at risk of undermining one of its key tools to restrict the Kremlin’s oil revenue.

(5) Rachel Reeves will issue a coded warning to the next Labour government by telling a City of London audience on Tuesday night that plans to boost the economy will only succeed with the support of financial markets.

(6) It was supposed to be a cargo of bananas from Latin America. What Spanish police found on the ship in the Mediterranean port of Algeciras instead were 13 tons of cocaine. The case is striking in how it alleges links to financiers with Wall Street connections, an Irish fintech trading crypto assets, luxury Dubai real estate and multiple offshore lenders.

Podcast Conversation: Scammers Are Being Scammed by Their Intended Victims Online

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

On today's podcast:

(1) The US launched fresh missile attacks against Iran on Sunday in what has become a pattern of strikes and counterstrikes by Washington and Tehran as the two sides issued conflicting declarations over whether the Strait of Hormuz is open to shipping.

(2) This year’s record-breaking heat in central and western Europe has already caused close to 10,000 deaths across the UK, France, Spain and Germany, according research groups and government bodies in the affected countries.

(3) Andy Burnham, the UK’s presumptive next prime minister, is considering unveiling a bolstered budget later this year as allies and experts seek to persuade him to pursue a land tax, public control of utilities and a more ambitious devolution strategy.

(4) UK police said they arrested a suspect on Saturday on suspicion of the murder of former minister and Reform UK politician Ann Widdecombe

(5) Three prominent artificial intelligence developers released new models over the past week. They all promise to be more advanced, but their biggest immediate selling point may not be what they can do but how little they charge to do it.

(6) European foreign ministers will be grappling with the developments in the Middle East when they meet in Brussels this morning.

Podcast Conversation: Satisfying Wealth Books For Your Summer Reading List 

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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 and PPI data, along with a focus on three stocks for the week ahead.
• In the UK – a look ahead to what lays ahead for the European Central Bank as it grapples with a uncertain inflation landscape.
• In Asia – a look ahead to South Korea’s Constitution Day.

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

On today's podcast:

(1) Andy Burnham’s path to becoming the next UK prime minister looks certain after a vast majority of Labour MPs formally nominated him to be the next party leader.

(2) Technical talks between the US and Iran are continuing, according to a US official, following two days of clashes that threatened to shatter an already fragile ceasefire between the two nations.

(3) Europe’s third major heat wave this year is set to intensify and expand, extending from west to east over the coming week.

(4) Volkswagen plans to cut its sprawling model lineup by as much as 50%, a savings push that was unveiled after a closely-watched supervisory board meeting that stopped short of agreeing on deeper workforce reductions.

(5) As investors increasingly turn to artificial intelligence for help with everything from stock picking to risk management, JPMorgan Chase. has been testing whether a model can do something more ambitious: allocate money itself.

(6) A Ukrainian intelligence officer, who previously admitted to killing a woman linked to a bombing in Monaco, retracted his confession and shifted the blame to another defendant as their bail hearing opened in Kyiv

Podcast Conversation: CoverGirl Stops Chasing Gen Z to Focus on Middle-Aged Women

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

On today's podcast:

(1) The US military struck Iran for the second straight day, an escalation of violence that threatens efforts to reach a permanent peace deal.

(2) Oil extended a surge as the US struck targets in Iran for a second day, raising risks for energy supplies from the Middle East.

(3) Russia announced a short-term ban on diesel exports, causing global prices for the fuel to surge to multi-year highs, as a wave of Ukrainian drone attacks leads to domestic shortages.

(4) The European Union will allow governments to include nuclear power as one of the categories of energy spending that qualify for greater flexibility under the bloc’s strict budgetary rules. 

(5) Nigel Farage intended his shock decision to quit Parliament and seek reelection in his coastal seat as a demonstration of political strength. But a man wearing a trash can could end up showing the depth of antipathy to the Reform UK leader.

(6) The UK has seen three summers of anti-migrant protests which have turned to violence -- in Belfast in Northern Ireland and in Southampton, following the death of Henry Nowak. Anger and resentment is being manipulated online and weaponized -- and authorities are struggling to address the real world impact.

Podcast Conversation: Inflammation Has Become the Wellness Industry's Latest Buzzword

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

On today's podcast:

(1) US forces completed a round of offensive strikes against Iran, according to a post on X by Central Command. 

(2) The UK, France and Germany have launched a $50 billion NATO initiative to spur the development of long-range weapons without US involvement, aiming to close the gap in an area where Russia is well ahead.

(3) Greenland “should be controlled by the United States,” President Trump says ahead of a meeting with NATO leaders.

(4) Nigel Farage’s shock decision to quit as MP so he can fight again for the seat he won two years ago puts the poll-topping Reform leader back where he’s happiest: at the center of Britain’s attention.

(5) Marine Le Pen, France’s far-right leader for two decades, intends to make her fourth presidential run even after an appellate panel ordered her to wear an electronic-monitoring device when it upheld her conviction for misusing public funds.

Podcast Conversation: UK Economy Needs an England World Cup Win: Andrea Felsted

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

On today's podcast:

(1) Iran fired at least two missiles at commercial ships transiting the Strait of Hormuz on Monday night, Axios reported, testing a late-June deal with the US to halt attacks as the two sides work toward a peace agreement.

(2) Asian equities fell as renewed selling in technology stocks deepened concerns that the AI-driven rally may have run ahead of itself.

(3) The outcome of Marine Le Pen’s appeal of her conviction for embezzling public funds could shape French and European politics for years.

(4) A fledgling rebound in European defense stocks faces a test this week, as investors look to a NATO summit for further clarity on member states’ defense spending plans.

(5) Andy Burnham, Britain’s likely next prime minister, faces competing advice from within his own camp on how to respond to the UK’s cost-of-living crisis, as he rushes to finalize his plans for government ahead of a Labour Party’s leadership contest he’s set to win.

(6) Team USA’s run in the World Cup came to an end on Monday as it failed to make the quarterfinals, while outrage over FIFA’s decision to allow striker Folarin Balogun to play continued to simmer.

Podcast Conversation: The World’s Most Romantic Destinations Are Becoming Family Playgrounds

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

On today's podcast:

(1) Russia launched waves of missiles and drones targeting Kyiv overnight into Monday that killed at least seven people, authorities said, hours after Ukraine’s president warned that another large-scale attack was imminent.

(2) The world must urgently develop guardrails to contain the threat posed by artificial intelligence, Britain’s foreign secretary is set to warn.

(3) The world must urgently develop guardrails to contain the threat posed by artificial intelligence, Britain’s foreign secretary is set to warn.

(4) Donald Trump’s war against Iran may be over, but the repercussions for global monetary policy are here to stay.

(5) Oil and gas shipping along a US-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor.

Podcast Conversation: The Supertanker Tycoon Making Millions on Hormuz Shuttle Runs

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