Bloomberg’s Michael Shepard says Nvidia’s relationship with the Singaporean company called Megaspeed International has been under scrutiny for more than a year. Nvidia CEO Jensen Huang admitted to having an affair with a woman from the company identified as a suspected Chinese spy. Here’s a quick recap of what we know so far.
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, the US carried out a second day of strikes on Iran. US Central Command says around 90 targets were hit. The Islamic Revolutionary Guard Corps says it struck US bases in Kuwait and Bahrain. Asked if a full-scale military campaign would resume, US President Donald Trump said, “I don’t know,” but it would be won “very quickly.”

Minutes from the Fed’s June meeting show that ‘a few’ officials said there was a case for raising interest rates, though they ultimately supported the decision to stay on hold. There was also growing concern over inflation, just as worries over the labor market receded.

And the board of Volkswagen is expected to consider plans for a sweeping restructure of the global automaker. Bloomberg understands the proposals could ultimately eliminate as many as 100,000 jobs and close four German factories.

Today’s guest: Trevor Charsley, Corpay, Senior Technical Strategist.

Chapters:
00:00:00 – Daybreak Europe
00:01:18 – ECB Minutes, German Trade & SK Hynix IPO
00:02:34 – US Launches Second Day of Strikes on Iran
00:08:37 – NATO Summit: Trump, Ukraine & Alliance Unity
00:12:17 – Asian Markets, Chip Stocks & Oil Rally
00:15:42 – Fed Rate in Fcus
00:19:22 – Fed Minutes Signal Rate Hike Debate
00:21:49 – Bain Capital Exits Kioxia Investment
00:27:02 – Mideast Flare-Up Reignites Inflation Concerns
00:30:19 – Fed Minutes in the Warsh Era
00:32:15 – Trevor Charsley, Corpay, Senior Technical Strategist
00:40:33 – Volkswagen Considers Major Restructuring
00:44:32 – Platner Suspends Maine Senate Campaign
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Food and energy prices drove the consumer price index higher for October, likely keeping the Federal Reserve on track to raise interest rates next month. Grocery, gasoline and electricity prices all rose. Tiffany Wilding, Pimco economist, says higher energy prices are causing companies to pass along the costs to consumers.
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On today’s Odd Lots podcast, Richmond Fed President Tom Barkin joins Joe Weisenthal and Tracy Alloway in Jackson Hole, Wyoming, to discuss the impact of AI on local communities and the US construction market.
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Bill Dudley, a Bloomberg Opinion columnist and former president of the Federal Reserve Bank of New York, says he’s pretty optimistic that if AI goes from boom to bust, the financial system won’t collapse, because people are already talking about the risks involved. He speaks on “Bloomberg Surveillance.”
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