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

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&rsquo;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<a href="https://www.bloomberg.com/news/articles/2026-07-14/spain-cocaine-bust-exposes-links-to-wall-street-dubai-real-estate"> it alleges links to financiers with Wall Street connections</a>, an Irish fintech trading crypto assets, luxury Dubai real estate and multiple offshore lenders. Podcast Conversation: <a href="https://www.bloomberg.com/news/articles/2026-07-13/how-scambaiters-fight-online-fraud-scam-texts-and-organized-crime?">Scammers Are Being Scammed by Their Intended Victims Online</a>

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.

Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.

Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg’s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.

Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe is the essential way to start your morning informed and ahead.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.
Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.
Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg&rsquo;s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.
Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe&nbsp;is the essential way to start your morning informed and ahead.

Bloomberg Daybreak: Europe Edition

US-Iran Truce Collapses, ‘$30M’ Supertanker Fees, Cocaine Empire Exposed

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/844b1ed3-52fc-40e1-af6e-b487005f350e/transcript