This week, while Venezuela has the oil reserves to impact global energy markets, rebuilding production will take years, billions of dollars and investor trust. And, Europe’s solar success is creating growing pains for investors, generators and power markets. Plus, can data centers turn Scotland’s wasted wind into an AI advantage? Later, a more dangerous world is pushing the Pentagon and Silicon Valley closer together, creating a new boom in defense and space technologies.

Chapters:
00:00:00 – Venezuela’s Oil Test
00:11:06 – Europe’s Solar Problem
00:23:53 – Wasted Wind Power
00:35:43 – Defense Tech Boom
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US retail sales rose broadly in August showing that consumers are still spending despite higher gasoline prices. Twelve of 13 retail categories reported increases, boosted by back-to-school shopping. Sales were up by 1.2% beating the estimate of 0.8%. Bloomberg’s Michael McKee reports from Washington.
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“Balance of Power” focuses on the intersection of politics and global business. On today’s show, Reps. Mike Lawler (R-NY) and Josh Gottheimer (D-NJ) say they would not have raised interest rates and discuss the impact of higher rates and inflation on consumers. In a Truth Social post, Trump said that US rates “should be 1%, or less.” Chris Phelan, White House Council of Economic Advisers chairman, agrees and says anyway you measure it – inflation is coming down.

Chapters:

00:01:53 Bloomberg’s Mike McKee on Kevin Warsh, Fed Decision and Inflation Outlook
00:05:36 Power Moves: Top Financial Moves
00:07:46 Reps. Mike Lawler (R-NY) and Josh Gottheimer (D-NJ) on Rates and Economy
00:11:57 Reps. Mike Lawler (R-NY) and Josh Gottheimer (D-NJ) on $5,000 Trump Dividend
00:13:23 Reps. Mike Lawler (R-NY) and Josh Gottheimer (D-NJ) Discuss the Stop Rogue AI Act, AI Regulation
00:20:00 Bloomberg Economics’ Becca Wasser and Bloomberg’s Courtney McBride on Cost of US Naval Blockade on Iran
00:25:29 Chris Phelan, White House Council of Economic Advisers Chairman, on White House Reacts to Fed Rate Hike
00:32:01 Chris Phelan on Diesel Prices and Inflation Concerns
00:34:32 Chris Phelan on Trump’s Proposed $5,000 Dividend Checks
00:36:52 Political Panel Reacts: Fed, Inflation and Economy, Trump Campaigns for Michael Whatley in North Carolina, Russia Sanctions and Presidential Tariff Authority
——–
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, 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.

Global bond yields retreated Thursday, as the Federal Reserve’s rate hike and vow to tame inflation calmed a pressured market, leaving traders to look ahead to Friday’s key Bank of Japan decision.

President Donald Trump floated hitting goods imported from the European Union with fresh tariffs or even cutting off some trade if he determined that a push to make Canada a potential associate of the bloc was harmful to the US.

And Britain’s King Charles III plans to ask some of the most critical figures in artificial intelligence for reassurances the technologists can keep their inventions under control.

Chapters:
00:00:00 – Daybreak Europe
00:02:54 – Fed Raises Rates to Curb Inflation, Drawing Rebuke From Trump
00:07:26 – Warsh Defies Trump’s Calls for Rate Cut as War Stokes Inflation
00:11:55 – Trump Floats EU Tariffs If Canada Invite Deemed Hostile Act
00:15:01 – Carney Set to Address European Parliament
00:19:00 – Trump Says Iran War Will End ‘Very Soon’
00:25:11 – Stock Futures Rebound, Bonds Pare Losses After Fed
00:28:28 – OpenAI Releases Framework to Disclose AI Model Misalignment
00:33:46 – Sweden’s Center-Left Projected to Win Election
00:39:53 – Bullard: Three More Hikes Sound High
00:43:37 – Bond Traders Signal Warsh Credibility Growing in Inflation Fight
——–
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Serve Robotics CEO Ali Kashani says that delivery robots won’t fully replace human couriers, but they will bring delivery costs down.

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