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

On today's podcast:

(1) Greater Manchester mayor Andy Burnham won a decisive victory for the ruling Labour party in a by-election that delivers him a seat in the UK parliament and with it a pathway to challenge Prime Minister Keir Starmer for his job.


(2) British policymakers declared that the business world could fend for itself during Brexit. History suggests they were partly right, but the underlying story, however, is more complicated as the missed opportunities of a lost decade start to stack up.


(3) The pound is set to face growing pressure as its recovery from the post-Brexit selloff has made it the most overvalued currency among major peers, according to Goldman Sachs.


(4) Vice President JD Vance will not depart Thursday night for face-to-face negotiations with Iran in Switzerland, the White House said, as the US and Iran begin a 60-day countdown to reach a nuclear agreement and a more permanent peace deal.

 
(5) Dutch chip-equipment giant ASML Holding NV is contending with its biggest challenge yet under the Trump administration: In a series of recent meetings, Commerce Secretary Howard Lutnick outlined concerns to ASML’s senior leaders that one of its top-of-the-line machines may have made its way into China, in violation of US-led export restrictions.


(6) Lithuanian President Gitanas Nauseda said the European Union shouldn’t rush into peace talks with Russia, distancing himself from recent EU efforts to engage Vladimir Putin. 

Podcast Conversation: Why Guinness Keeps Growing While Beer Sales Worldwide Fizz Out 

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Greater Manchester mayor Andy Burnham won a decisive victory for the ruling Labour party in a by-election that delivers him a seat in the UK parliament and with it a pathway to challenge Prime Minister Keir Starmer for his job.
 (2) British policymakers declared that the business world could fend for itself during Brexit. History suggests they were partly right, but the underlying story, however, is more complicated as the missed opportunities of a lost decade start to stack up.
 (3) The pound is set to face growing pressure as its recovery from the post-Brexit selloff has made it the most overvalued currency among major peers, according to Goldman Sachs.
 (4) Vice President JD Vance will not depart Thursday night for face-to-face negotiations with Iran in Switzerland, the White House said, as the US and Iran begin a 60-day countdown to reach a nuclear agreement and a more permanent peace deal.
&nbsp; (5) Dutch chip-equipment giant ASML Holding NV is contending with its biggest challenge yet under the Trump administration: In a series of recent meetings, Commerce Secretary Howard Lutnick outlined concerns to ASML&rsquo;s senior leaders that one of its top-of-the-line machines may have made its way into China, in violation of US-led export restrictions.
 (6) Lithuanian President Gitanas Nauseda said the European Union shouldn&rsquo;t rush into peace talks with Russia, distancing himself from recent EU efforts to engage Vladimir Putin. Podcast Conversation: <a href="https://www.bloomberg.com/news/features/2026-06-18/why-guinness-is-growing-while-beer-sales-fall-worldwide">Why Guinness Keeps Growing While Beer Sales Worldwide Fizz Out&nbsp;</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

Andy Burnham Wins, US-ASML China Clash, Europe’s Russia Outreach

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/32a45d82-ca9c-4018-84e2-b46e005f515c/transcript