China-UK Hacking Exposed, Reeves Needs £50 Billion, Griffin: AI Lacks Edge
Bloomberg Daybreak: Europe Edition16 Loka 2025

China-UK Hacking Exposed, Reeves Needs £50 Billion, Griffin: AI Lacks Edge

Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:


(1) Chinese state actors systemically and successfully compromised classified UK government computer systems for more than a decade, according to two former senior security officials and other government officials familiar with the matter.


(2) US Treasury Secretary Scott Bessent dangled the possibility of extending a pause of import duties on Chinese goods for longer than three months if China halts its plan for strict new export controls on rare-earth elements.


(3) Chancellor of the Exchequer Rachel Reeves needs to raise her fiscal buffer fivefold to have a better-than-even chance of avoiding more tax rises and spending cuts in the coming years, according to the Institute for Fiscal Studies.


(4) French premier Sebastien Lecornu appears set to survive two no-confidence motions on Thursday after announcing plans to suspend a contentious pension law in order to win support in the National Assembly.


(5) President Donald Trump said he had authorized the Central Intelligence Agency to take covert action in Venezuela, arguing that he had to stem the flow of drugs and illegal migrants into the US.

Podcast Conversation: Smart Glasses Shouldn’t Replace Smartphones

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