Business
Trump Touts Economic Record in State of the Union | Daybreak Europe 2/25/2026
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 President offered a strident defense of his administration and economic record, declaring the nation is “bigger, better, richer and stronger than ever before”. In the longest-ever State of the Union address, Donald Trump celebrated Olympic victories and military heroism, while at the same time as pledging better fortunes for the public and attacking his rival Democrats.
Also on the show, HSBC raises its bonus pool 10% to $3.93B – the highest in at least a decade. That’s after full-year earnings beat estimates, boosted by a strong performance at its wealth division.
Plus, we speak with the CEO of the UK self-driving software startup Wayve after its latest fundraise at a valuation of $8.6B. The Series D was led by Eclipse Ventures, Balderton Capital and SoftBank, with investment from existing backers Microsoft, Nvidia and Uber. Wayve is aiming to launch self-driving Ubers running on its software in London this year.
Today’s guest: Sudha David-Wilp, German Marshall Fund, Vice President of External Relations & Senior Fellow.
Chapters:
00:00:00 – Daybreak Europe
00:01:32 – Takaichi Makes Dovish BOJ Nominations
00:05:47 – Tariffs, 401(k)s, Shouting: Key Takeaways From Trump’s Speech
00:08:33 – Trump Makes SOTU Pitch Facing Headwinds
00:12:25 – UBS Now Sees Private Credit Defaults Reaching 15% in Worst Case
00:16:05 – Anthropic Emphasizes Sector Partnership
00:18:12 – Meta to Deploy AMD Gear for Data Centres, AI
00:20:39 – HSBC Bonus Pool Rises to Highest in at Least a Decade
00:24:54 – Trump Touts Economic Success
00:26:42 – Trump Defends Foreign Affairs Record
00:31:16 – Sudha David-Wilp, German Marshall Fund, Vice President of External Relations & Senior Fellow
00:36:10 – Paramount Revises Warner Bid
00:39:50 – Wayve Secures $1.5b to Rollout Self-Driving Taxis
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Apple CEO John Ternus is preparing for his first major product event since succeeding Tim Cook, with a foldable iPhone expected to headline the September 9 launch. Bloomberg Intelligence Senior Hardware Analyst Woo Jin Ho joins Christina Ruffini and Jeff Mason on Bloomberg This Weekend and says Ternus’ engineering background could bring renewed focus to hardware and expanding Apple’s ecosystem as smartphone upgrades become increasingly incremental.
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Africa has seen lots of economic growth in the last few years. According to the United Nations, growth across the continent is expected to reach 4.0% in 2026.
Joe Studwell, author of How Africa Works: Success and Failure on the World’s Last Developmental Frontier, joins Tracy Alloway and Joe Weisenthal on the Odd Lots podcast to discuss what is driving this economic growth and how it compares to Asian counterparts.
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President Donald Trump suggested the Pentagon will start targeting drug cartels with strikes on land in Venezuela and beyond.
Trump said the US could target any country trafficking illegal narcotics into the US, mentioning both Colombia and Venezuela.
Trump has previously said he wanted to widen the US military attacks against drug cartels that have fueled a deadly domestic opioid crisis.
Read more: https://www.bloomberg.com/news/articles/2025-12-02/trump-said-us-will-soon-do-land-strikes-on-drug-traffickers
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Josh Kushner and Bob Iger are buying the Los Angeles Lakers basketball team for a record-breaking price of $12.5 billion, according to people familiar with the matter. Randall Williams has the details.
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Taylor Swift and Travis Kelce settling in Ohio, parents teaching teens to invest, what happened to yoga classes, and baseball dogs: Watch Lisa Mateo, Christina Ruffini and Jeff Mason talk about headlines from this week you may have missed on Bloomberg This Weekend!
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