Bloomberg Daybreak: Europe Edition19 Kesä

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

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

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