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

On today's podcast:

(1) Chancellor of the Exchequer John Healey defended his first budget against criticism that it lacked ambition, while warning Britain would face “hard decisions” about its spending priorities in the years ahead.

(2) Federal Reserve Chairman Kevin Warsh on Wednesday left the central bank on track to raise interest rates again this year, even as he stuck to his refusal to offer any explicit guidance on the future path of policy.

(3) Traders haven’t increased bets on tightening by the European Central Bank recently despite more upside in oil prices. That’s bad news for the euro.

(4) Technology stocks trimmed their losses as the European session neared, after disappointing earnings from two industry heavyweights earlier revived doubts over whether billions of dollars in AI spending will deliver sufficient returns. Oil fell.

(5) Oil dropped as traders assessed fresh diplomatic efforts in the Middle East to avert a potential restart of US military strikes on Iran.

Podcast Conversation:Healey Defends Scale of UK Budget And Warns Hard Decisions Ahead

Your morning briefing. All the news you need to start your day. On today's podcast: (1) Chancellor of the Exchequer John Healey defended his first budget against criticism that it lacked ambition, while warning Britain would face &ldquo;hard decisions&rdquo; about its spending priorities in the years ahead. (2) Federal Reserve Chairman Kevin Warsh on Wednesday left the central bank on track to raise interest rates again this year, even as he stuck to his refusal to offer any explicit guidance on the future path of policy. (3) Traders haven&rsquo;t increased bets on tightening by the European Central Bank recently despite more upside in oil prices. That&rsquo;s bad news for the euro. (4) Technology stocks trimmed their losses as the European session neared, after disappointing earnings from two industry heavyweights earlier revived doubts over whether billions of dollars in AI spending will deliver sufficient returns. Oil fell. (5) Oil dropped as traders assessed fresh diplomatic efforts in the Middle East to avert a potential restart of US military strikes on Iran. Podcast Conversation:<a href="https://www.bloomberg.com/news/videos/2026-10-29/healey-defends-uk-budget-warns-hard-decisions-ahead" data-destination="https://www.bloomberg.com/news/videos/2026-10-29/healey-defends-uk-budget-warns-hard-decisions-ahead">Healey Defends Scale of UK Budget And Warns Hard Decisions Ahead</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

Healey's First Budget Interview, Tech Rally Stalls, Fed Holds Fire 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ad814b85-e13e-4326-bd51-b4f2006ff887/transcript