On today's podcast: 
1) The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter.
2) President Donald Trump said the US will send more Patriot air-defense batteries to Ukraine, which Kyiv has said it needs to protect itself from Russian airstrikes.
3) Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.

On today's podcast: 1) The EU is preparing to step up its engagement with other countries hit by Donald Trump&rsquo;s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter. 2) President Donald Trump said the US will send more Patriot air-defense batteries to Ukraine, which Kyiv has said it needs to protect itself from Russian airstrikes. 3) Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its &ldquo;Crypto Week&rdquo; starting Monday.

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

EU-US Tariff Battle Heats Up; Trump Will Send Air-Defense to Ukraine

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/59194849-23e7-4503-b9bd-b31a009ac7b6/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US will begin a full naval blockade of the strategic Strait of Hormuz and threatened to retaliate in the event of Iranian resistance, escalating a standoff that has already brought the waterway to a near standstill and disrupted global energy supplies. The president’s announcement came hours after the US and Iran failed to reach a deal in direct talks in Pakistan, jeopardizing hopes of turning a fragile ceasefire into a lasting end to a war that has claimed thousands of lives. The negotiations collapsed because of differences over the nuclear issue, Trump said in a Truth Social posting on Sunday. The US military said Sunday that it would begin the blockade at 10 am New York time on Monday.
2) Peter Magyar, Hungary’s next prime minister, outlined sweeping changes after ending Viktor Orban’s 16-year rule in a landslide election victory that will redefine the country’s ties with the European Union, Russia and the US administration of President Trump. Magyar, a 45-year-old former insider of Orban’s nationalists, said the overwhelming victory for his Tisza party — translating into a two-thirds parliamentary majority — gave him a mandate to dismantle Orban’s increasingly authoritarian system and bring Hungary back into the European fold. Orban conceded the defeat, telling supporters that the result was “painful” for him. Magyar, whose conservative-leaning party has sought to unite disgruntled voters, called on the country’s president, top justices and chief prosecutor to all hand in their resignations during his victory speech in front of a cheering crowd in Budapest on Sunday. Magyar said they had put their political allegiance to Orban’s authoritarian system above their office’s responsibilities.
3) US Representative Eric Swalwell suspended his bid for governor of California after a series of sexual assault allegations threw his campaign into turmoil and prompted backers to flee. “I am suspending my campaign for governor,” Swalwell said in a post on social media on Sunday evening. He apologized to his supporters, adding “I will fight the serious, false allegations that have been made — but that’s my fight, not a campaign’s.” Swalwell’s exit upends a competitive and crowded race to lead the most populous US state. The 45-year-old, seven-term congressman from the San Fransisco Bay area, had been polling among the top Democrats to succeed Gavin Newsom, who is barred from seeking re-election because of term limits.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Trump said the US will begin a full naval blockade of the strategic Strait of Hormuz and threatened to retaliate in the event of Iranian resistance, escalating a standoff that has already brought the waterway to a near standstill and disrupted global energy supplies. The president&rsquo;s announcement came hours after the US and Iran failed to reach a deal in direct talks in Pakistan, jeopardizing hopes of turning a fragile ceasefire into a lasting end to a war that has claimed thousands of lives. The negotiations collapsed because of differences over the nuclear issue, Trump said in a Truth Social posting on Sunday. The US military said Sunday that it would begin the blockade at 10 am New York time on Monday. 2) Peter Magyar, Hungary&rsquo;s next prime minister, outlined sweeping changes after ending Viktor Orban&rsquo;s 16-year rule in a landslide election victory that will redefine the country&rsquo;s ties with the European Union, Russia and the US administration of President Trump. Magyar, a 45-year-old former insider of Orban&rsquo;s nationalists, said the overwhelming victory for his Tisza party &mdash; translating into a two-thirds parliamentary majority &mdash; gave him a mandate to dismantle Orban&rsquo;s increasingly authoritarian system and bring Hungary back into the European fold. Orban conceded the defeat, telling supporters that the result was &ldquo;painful&rdquo; for him. Magyar, whose conservative-leaning party has sought to unite disgruntled voters, called on the country&rsquo;s president, top justices and chief prosecutor to all hand in their resignations during his victory speech in front of a cheering crowd in Budapest on Sunday. Magyar said they had put their political allegiance to Orban&rsquo;s authoritarian system above their office&rsquo;s responsibilities. 3) US Representative Eric Swalwell suspended his bid for governor of California after a series of sexual assault allegations threw his campaign into turmoil and prompted backers to flee. &ldquo;I am suspending my campaign for governor,&rdquo; Swalwell said in a post on social media on Sunday evening. He apologized to his supporters, adding &ldquo;I will fight the serious, false allegations that have been made &mdash; but that&rsquo;s my fight, not a campaign&rsquo;s.&rdquo; Swalwell&rsquo;s exit upends a competitive and crowded race to lead the most populous US state. The 45-year-old, seven-term congressman from the San Fransisco Bay area, had been polling among the top Democrats to succeed Gavin Newsom, who is barred from seeking re-election because of term limits.

Trump Orders Hormuz Blockade; Hungary Rejects Orban in Seismic Vote

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/51f64962-0d7f-4836-8ce6-b42b009e6b90/transcript

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to earnings from Netflix and a focus on three bank stocks for the week ahead.
In the UK – a look ahead to the next election in Hungary.
In Asia – a look ahead to Spain Prime Minister Pedro Sanchez's trip to China.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
<ul>
<li>In the US &ndash; a look ahead to earnings from Netflix and a focus on three bank stocks for the week ahead.</li>
<li>In the UK &ndash; a look ahead to the next election in Hungary.</li>
<li>In Asia &ndash; a look ahead to Spain Prime Minister Pedro Sanchez's trip to China.</li>
</ul>

Daybreak Weekend: Neflix Earnings, Hungary Election, Spain Prime Minister Visits China

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/468fb670-4ab5-495c-8050-b42801393ade/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump demanded Iran reopen the Strait of Hormuz, raising pressure on Tehran before talks to turn a fragile ceasefire into lasting peace. The truce remains shaky, with Kuwait reporting large-scale drone attacks on “vital” facilities overnight into Friday and accusing Iran and its proxy groups of violating the ceasefire announced by Washington and Tehran two days earlier. The war has already killed thousands of people and damaged energy infrastructure across the oil-rich Persian Gulf. US and Iranian delegations are set to meet in Pakistan on Saturday, with shipping through Hormuz — which handled about a fifth of the world’s oil and liquefied natural gas before the war — a central sticking point.
2) Israeli Prime Minister Benjamin Netanyahu said he agreed to hold direct talks with Lebanon about the conflict, with the focus on disarming Hezbollah. Trump called the Israeli leader on Wednesday and asked him to scale back strikes to ensure the success of negotiations with Iran, NBC reported, citing an unidentified senior administration official. Iranian President Masoud Pezeshkian said Israel’s strikes in Lebanon are a “clear violation” of the ceasefire and “will render negotiations meaningless.”
3) Oil rose a second day after Saudi Arabia said its production capacity has been reduced due to attacks on energy infrastructure, but futures remain on track for their biggest weekly loss since June. Saudi Arabia’s press agency said the nation’s production capacity has been cut by around 600,000 barrels a day due to attacks on energy infrastructure. That figure accounts for roughly 10% of the kingdom’s normal crude exports, according to Bloomberg calculations. Meanwhile, strikes on a pumping station serving the East-West pipeline — which Saudi Arabia has been using to export crude via the Red Sea — crimped daily throughput by 700,000 barrels this week, according to the report. Kuwait also said it was intercepting drone attacks and that some vital facilities were targeted.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Trump demanded Iran reopen the Strait of Hormuz, raising pressure on Tehran before talks to turn a fragile ceasefire into lasting peace. The truce remains shaky, with Kuwait reporting large-scale drone attacks on &ldquo;vital&rdquo; facilities overnight into Friday and accusing Iran and its proxy groups of violating the ceasefire announced by Washington and Tehran two days earlier. The war has already killed thousands of people and damaged energy infrastructure across the oil-rich Persian Gulf. US and Iranian delegations are set to meet in Pakistan on Saturday, with shipping through Hormuz &mdash; which handled about a fifth of the world&rsquo;s oil and liquefied natural gas before the war &mdash; a central sticking point. 2) Israeli Prime Minister Benjamin Netanyahu said he agreed to hold direct talks with Lebanon about the conflict, with the focus on disarming Hezbollah. Trump called the Israeli leader on Wednesday and asked him to scale back strikes to ensure the success of negotiations with Iran, NBC reported, citing an unidentified senior administration official. Iranian President Masoud Pezeshkian said Israel&rsquo;s strikes in Lebanon are a &ldquo;clear violation&rdquo; of the ceasefire and &ldquo;will render negotiations meaningless.&rdquo; 3) Oil rose a second day after Saudi Arabia said its production capacity has been reduced due to attacks on energy infrastructure, but futures remain on track for their biggest weekly loss since June. Saudi Arabia&rsquo;s press agency said the nation&rsquo;s production capacity has been cut by around 600,000 barrels a day due to attacks on energy infrastructure. That figure accounts for roughly 10% of the kingdom&rsquo;s normal crude exports, according to Bloomberg calculations. Meanwhile, strikes on a pumping station serving the East-West pipeline &mdash; which Saudi Arabia has been using to export crude via the Red Sea &mdash; crimped daily throughput by 700,000 barrels this week, according to the report. Kuwait also said it was intercepting drone attacks and that some vital facilities were targeted.

Trump Demands Hormuz Reopening; Israel Agrees to Lebanon Talks

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/51c4c50d-9e14-4c93-815d-b428009c11c5/transcript

EU-US Tariff Battle Heats Up; Trump Will Send Air-Defense to Ukraine

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