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

On today's podcast:

(1) The US-Israeli war against Iran shows no signs of easing this morning as more countries face being drawn into the conflict in the Middle East.

(2) President Donald Trump’s war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike. For Europe, sustained higher energy prices would take the economy to the brink of recession.

(3) Chancellor of the Exchequer Rachel Reeves said the UK shouldn’t sacrifice its principles for more favorable trading terms with the US, as she stood by the government’s decision to withhold British backup for the American-Israeli assault on Iran.

(4) Donald Trump said he will “cut off all trade with Spain” after the country denied access to its military bases for his bombing campaign against Iran, spurring a sharp rebuke from Madrid that the US president must respect international trade agreements.

(5) German Chancellor Friedrich Merz said he intended to discuss with President Donald Trump the next steps in the war on Iran amid questions about the US administration’s endgame after it launched strikes on the Islamic Republic.

(6) Europe has found itself pulled into another war, scrambling to protect Cyprus at a moment of weakness.

Podcast Conversation: ‘OK, Time to Go’: Cabs, Cash and Twisted Routes to Escape Dubai

Your morning briefing. All the news you need to start your day. On today's podcast: (1) The US-Israeli war against Iran shows no signs of easing this morning as more countries face being drawn into the conflict in the Middle East. (2) President Donald Trump&rsquo;s war with Iran threatens to deal a severe blow to a global economy still grappling with the impact of his historic tariff hike. For Europe, <a href="https://www.bloomberg.com/news/features/2026-03-03/iran-war-oil-price-surge-put-global-economic-recovery-at-risk?itm_source=record&amp;itm_campaign=War_With_Iran&amp;itm_content=Oil_Shock_Risk-2">sustained higher energy prices would take the economy to the brink of recession</a>. (3) Chancellor of the Exchequer Rachel Reeves said the UK shouldn&rsquo;t sacrifice its principles for more favorable trading terms with the US, as she stood by the government&rsquo;s decision to withhold British backup for the American-Israeli assault on Iran. (4) Donald Trump said he will &ldquo;cut off all trade with Spain&rdquo; after the country denied access to its military bases for his bombing campaign against Iran, spurring a sharp rebuke from Madrid that the US president must respect international trade agreements. (5) German Chancellor Friedrich Merz said he intended to discuss with President Donald Trump the next steps in the war on Iran amid questions about the US administration&rsquo;s endgame after it launched strikes on the Islamic Republic. (6) Europe has found itself pulled into another war, scrambling to protect Cyprus at a moment of weakness. Podcast Conversation: <a href="https://www.bloomberg.com/news/articles/2026-03-03/-ok-time-to-go-cabs-cash-and-twisted-routes-to-escape-dubai">&lsquo;OK, Time to Go&rsquo;: Cabs, Cash and Twisted Routes to Escape Dubai</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

Iran War Missile Waves, Oil Escort ‘Sitting Ducks’, US-Europe Ties Splinter

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/9abedbd4-d4c7-4571-95fe-b403006e1a0c/transcript