Business
Higher Tariffs Take Effect, New 100% Levy on Chips; BOE Set to Cut | Daybreak Europe 8/07/2025
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, higher US tariffs come into effect, including 39% on Switzerland after the Swiss President left Washington empty-handed. Donald Trump also announces 100% tariffs on semiconductor imports, but companies including Apple will be exempt if they begin moving production back to the US. Relief over those exemptions sees markets rally, helped by TSMC and Samsung.
Also on the programme, the Bank of England set to cut rates to their lowest in two years as policymakers try to balance a slowing economy with sticky inflation.
Plus a slew of earnings from pharma to shipping give insight into the impact of US tariffs.
Today’s guest: Nina Skero, Centre for Economics & Business Research, CEO
Chapters:
00:00:00 – Daybreak Europe
00:04:39 – Bank of England Set to Cut Rates
00:07:17 – Apple Dodges Tariffs With Increased US Investment
00:09:45 – Swiss President Departs US Without Tariff Deal
00:12:04 – Three Fed Officials Voice Labor Market Concerns
00:19:07 – Trump Suggests Meeting With Zelenskiyy and Putin
00:22:27 – Former Tesla Leaders Start Competing AI Company
00:29:34 – BOE Set to Cut Rates
00:30:08 – Nina Skero, Centre for Economics & Business Research, CEO
00:39:22 – Roland Busch, Siemens CEO
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Business
Stocks Waver Ahead of Jobs Data; Trump to Meet Tech CEOs on AI
US equity futures and Treasuries struggle for direction ahead of labor market data and a slew of Fedspeak that may offer clues on the rate outlook. Nvidia, Anthropic and Palantir CEOs are slated to attend a lunch with President Trump to discuss AI risks. The US enacts import ban on some Canadian goods. Colin Purdie of Manulife joins “Bloomberg Brief” to discuss market opportunities amid rising yields.
Chapters:
00:00:00 – Bloomberg Brief Begins: Top Stories
00:00:52 – Global Markets Check: Global Markets & Rising Treasury Yields
00:04:03 – First Look Movers: Navitas, Jefferies & Julius Baer
00:05:27 – AI Safety, OpenAI & Trump’s Tech Meeting, AMD’s World Labs Deal & AI Expansion
00:08:48 – US-Canada Trade Tensions Escalate
00:11:14 – Trending on the Terminal
00:12:42 – Goldman Sachs Succession & John Waldron, How AI Could Transform Goldman Sachs
00:17:47 – Front Page News
00:18:41 – China Signals Fresh Economic Stimulus, China’s Housing Market & Consumer Support
00:21:34 – Markets Update: Oil, Yields & Equities
00:23:09 – First Look Movers: AstraZeneca, FICO & Julius Baer
00:24:40 – Colin Purdie, Manulife CIO of Public Markets, on Yields, Equities & the AI Trade China Stimulus & Global Investment Opportunities
00:32:39 – Trending on the Terminal
00:33:56 – AI Leaders Meet Trump as Safety Concerns Grow, AMD’s $8.2 Billion World Labs Acquisition
00:38:10 – US-Canada Trade Ban & Steel Tariffs, US-India Trade Talks Continue
00:42:09 – What to Watch
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Business
Yardeni Sees Revenge of the Bond Vigilantes
Edward Yardeni of Yardeni Research says bond yields could keep going higher from here and markets could be seeing a revenge of the so-called bond vigilantes. He says a yen-carry unwind could be driving the global bond selloff. He speaks on “Bloomberg Surveillance.”
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Business
Breaking Down Nike’s ‘Disappointing’ Earnings
CFRA Equity Analyst Zachary Warring discusses Nike’s latest quarterly results and strategic shift. Speaking on “Bloomberg The Close,” Warring says that despite maintaining a buy rating, he calls the quarter and full-year guidance disappointing, noting double-digit revenue declines and earnings per share below his expectations.
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Business
Altman on OpenAI’s IPO Plans, AI Agent Dots, AI Security
OpenAI CEO Sam Altman talks about launching its new AI personal agent called Dots, which he says is a premium product. Altman also says the company will go public at some point, but it’s being patient. He speaks to Bloomberg’s Ed Ludlow in San Francisco.
——–
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Business
AI Boom Powers Micron Earnings, OpenAI Blames Moonshoot for Data Extraction
“Bloomberg: The Asia Trade” brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets.
Chapters:
00:00:00 – Bloomberg: The Asia Trade begins
00:01:04 – US consumer spending jumps by most in a year
00:03:58 – US 30-year yield highest since 2002
00:06:54 – Micron forecast beats on booming AI memory demand
00:12:47 – Trump unveils $200B in South Korean energy investments
00:19:48 – OpenAI blames Moonshot for mass data extraction
00:26:23 – TD Securities’ Molly Brooks on US rates, economy
00:34:29 – Google’s Gemini 4 Argon faces internal doubts
00:38:19 – CoreWeave CEO Michael Intrator on data center buildouts
00:41:17 – Michael Burry’s protégé warns of ‘value traps’ in Korean stocks
00:44:21 – BREAKING: Japan Sept. large manufacturer Tankan at 24; est. 25
00:47:26 – Markets open in Japan, South Korea and Australia
00:51:55 – Defiance ETFs’ Sylvia Jablonski on market strategy
00:57:36 – Micron: Still no line of sight into when supply meets demand
01:02:00 – OpenAI allegation adds to US AI labs’ distillation concerns
01:08:33 – EXCLUSIVE: Pershing Square CEO Bill Ackman on investing in AI
01:13:36 – BREAKING: S&P Global posts Asia Sept. manufacturing PMI data
01:15:43 – Futurum’s Rolf Bulk on Micron earnings, US tech outlook
01:21:37 – Trump’s South Korea energy investment plan includes eight nuclear power plants
01:26:06 – Bloomberg Opinion: Emerging Asia rethinking its LNG strategy
01:29:58 – China’s coal past and solar present collide in Pakistan
——–
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