Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.
On today’s show, pharma stocks in Asia fall after the US President said 100% tariffs on branded drugs will come into force on October 1. Levies will also be imposed on heavy trucks, kitchen cabinets and upholstered furniture.
Big revisions to US data show second quarter GDP growth was higher than previously reported, on the back of strong consumer spending. It suggests the balance of risks to the Fed’s dual mandate could be shifting back towards inflation.
Plus, Bloomberg learns that European officials have warned the Kremlin they will shoot down Russian jets, but the head of NATO tells us the alliance can’t afford to keep downing drones with expensive missiles.
Today’s guests: Christian Schulz, Allianz Global Investors, Chief Economist & Rachel Delacour, Sweep, Co-Founder & CEO.
Chapters:
00:00:00 – Daybreak Europe
00:02:45 – Asian Shares Decline, Trump Tariffs Spook Pharma
00:04:18 – Trump Plans 100% Duty on Patented Drugs
00:06:28 – Trump New Tariffs to Take Effect Oct. 1
00:07:53 – Trump Signs TikTok Order, US App Valued At $14B
00:09:17 – Miran: Neutral Rate Drifting Down
00:15:06 – Rutte: NATO Assessing Airspace Incursions
00:17:28 – European Officials Warn Russia on Airspace Violations
00:19:28 – Trump Urges Erdogan to Cut Russia Oil Buys
00:22:56 – Trump: Won’t Allow Israel to Annex West Bank
00:23:11 – Ex-FBI Director James Comey Charged With Lying Obstruction
00:26:17 – Christian Schulz, Allianz Global Investors, Chief Economist
00:32:08 – Bond Market Looms Large Over Labour Conference
00:35:10 – Labour Party Pledges
00:35:27 – Volkswagen Cuts Output, Pauses EV Plants
00:35:45 – Airbus Pessimistic About Salvaging Dassault Jet Partnership
00:36:16 – David Einhoen Sounds Warning on AI Spending Splurge
00:38:08 – Rachel Delacour, Sweep, Co-Founder & CEO
00:45:02 – Trump’s Renewed Drug Tariffs in Focus
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