Bloomberg Daybreak: Europe Edition13 Maj

UK Leadership Crisis, Jamie Dimon’s Many Warnings, Surviving US-China Crossfire

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

On today's podcast:

(1) UK Prime Minister Keir Starmer survived in post on Tuesday despite a slew of ministerial resignations which have so far failed to force his downfall.

(2) As UK Prime Minister Keir Starmer slowly loses allies in government and fights for his survival, the escalating political drama is heaping fresh pressure onto a bond market already battered by the country’s deep-rooted fiscal and economic problems.

(3) Jamie Dimon warned the UK that any move to hike taxes on banks in the event Keir Starmer is replaced as the UK’s prime minster would see JPMorgan Chase & Co. scrap plans to invest billions in a new London headquarters in Canary Wharf.

(4) France’s economy is showing signs of faltering as the fallout from the Middle East conflict hits growth and ratchets up inflation pressure, according to the central bank’s monthly survey of companies.

(5) Oil shipments from Iran’s main export terminal appear to have come to a standstill over the past several days, according to satellite images, the first sign of a prolonged halt since the start of the war.

(6) US President Donald Trump said he would prioritize trade discussions during his summit with Chinese counterpart Xi Jinping, and downplayed the amount of attention they would devote to the Iran war.

(7) When President Donald Trump sits down for talks with China’s Xi Jinping this week, the focus will be on whether the world’s two-biggest powers can stabilize a fraught relationship. But it is the countries caught in between that have been forced to navigate the fallout from the geopolitical storm.

Podcast Conversation: Solar is Now so Big in Europe That Power is Going to Waste

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