Speaker 1: News when you want it with Bloomberg News Now, I'm Caroline.
Speaker 2: Hepcare and I'm Stephen Carroll.
Speaker 1: European natural gas prices are jumping as renewed tensions around
Speaker 1: the Straight of Homers add to concerns over winter supplies.
Speaker 1: Benchmark futures surged by over ten percent across two sessions,
Speaker 1: with prices now around double their January levels. Braincrude also
Speaker 1: rose above eighty three dollars a barl after gaining almost
Speaker 1: four percent in the previous session. The moves followed reports
Speaker 1: that Iran's to our hostile targets at the entrance to
Speaker 1: the Strait and is seeking to bar US and Israeli
Speaker 1: ships from the waterway. Richard has his President Emeritus of
Speaker 1: the Council on Foreign Relations and says Iran is in
Speaker 1: a strong position.
Speaker 3: If the goal is to get the Straight of Horror
Speaker 3: moves open, which it should be. The idea that Iran
Speaker 3: would have a larger role now I think is inevitable.
Speaker 3: Wars of consequences will have to let them sell some
Speaker 3: oil as long as most of the other sanctions stay
Speaker 3: in place. I think that's probably as good as we
Speaker 3: can expect.
Speaker 1: As point so, that was Richard Hash speaking on Bloomberg's
Speaker 1: Balance of Power, The war has already cut off about
Speaker 1: a fifth of global LNG, making it harder for Europe
Speaker 1: to replenish inventories that recently hit their lowest seasonal levels
Speaker 1: since two thousand and nine.
Speaker 2: Extreme heat has killed more than twenty five thousand people
Speaker 2: across Europe this year, according to data compiled by Bloomberg.
Speaker 2: Germany recorded the highest toll, with an estimated eleven thousand,
Speaker 2: nine hundred excess deaths linked to heat since April. In
Speaker 2: the UK, Health Secretary of Ed Cooper says thousands of
Speaker 2: excess debts occurred in May and June.
Speaker 4: The NHS now has to work to prepare for summer
Speaker 4: pressures in the way that we have long had to
Speaker 4: do four winter pressures. That means trusts having to have
Speaker 4: plans in place to deal with higher levels of demand
Speaker 4: people coming through the door. Maybe because of the heat wave.
Speaker 2: Iv Cooper was speaking as heat waves across Europe have
Speaker 2: shattered records and dented economic output. The heat is to
Speaker 2: build again next week, with temperatures forecast to reach thirty
Speaker 2: four degrees in London and thirty eight degrees in Paris.
Speaker 1: The US is said to have blindsided the European Central
Speaker 1: Bank by selling euros as part of last week's intervention
Speaker 1: to prop up the EN. The Financial Times report CCB
Speaker 1: officials in Frankfurt were only informed after the trade, with
Speaker 1: some senior figures viewing the move as an unprecedented breach
Speaker 1: of long standing conventions. The EN has since surrendered nearly
Speaker 1: half of its intervention driven gains. Blue Makes David Finity
Speaker 1: says traders have no consensus on where the currency goes
Speaker 1: from here.
Speaker 5: The fact that dollian is back about one fifty eight,
Speaker 5: it just says a lot to the fundamentals. You can
Speaker 5: say it shouldn't be there. The mark is going, but
Speaker 5: it is, and it is there because we think it
Speaker 5: should be there. So I think whatever tools they use
Speaker 5: and rhetoric obviously is not enough for a question whether
Speaker 5: interventions even enough. The reality is that the market is
Speaker 5: so big and deep you are fighting this wave of
Speaker 5: basically sentiments saying well, we do think it's can be higher,
Speaker 5: but we're very wary that you're going to try and
Speaker 5: push it lower.
Speaker 1: Infinity points to US jobs data later today as the
Speaker 1: next big test for the currency pair. The renewed slide
Speaker 1: raises the prospect of further intervention, with both US and
Speaker 1: Japanese officials warning this week that they are prepared to
Speaker 1: act again if needed.
Speaker 2: The UK government has declined to rule out increasing bank
Speaker 2: taxes and its upcoming budget. Bumper profits among lenders are
Speaker 2: sparking speculation that the new administration will target the financial industry.
Speaker 2: Bloomberg Exchange Wilcock has more.
Speaker 6: Andy Burnham hasn't shied away from talking tax since becoming
Speaker 6: Prime Minister a few weeks ago. He's announced cuts to
Speaker 6: V eighty energy bills, reductions in business rates, and he's
Speaker 6: ruled out changes to stamp duty in the coming October budget.
Speaker 6: So when Bloomberg asked his treasury if they would rule
Speaker 6: out a bank tax, their refusal to comment marks a contrast.
Speaker 6: It's one that says he has noticed his Barkley ceocs
Speaker 6: Ben Kate Krishnan.
Speaker 7: We are indeed broad shoulders, not just in the size
Speaker 7: of our businesses, but in the capabilities which we offer.
Speaker 7: The question is how do you use it the right way?
Speaker 7: Every pound of capital that they keep in the banking
Speaker 7: system will be multiplied by eight or ten in terms
Speaker 7: of the lending which we can do. So the right
Speaker 7: thing to do is to continue to increase the capital
Speaker 7: in the banking system, not seek to remove it, and
Speaker 7: then to get us to lend, which is what we
Speaker 7: want to do anyway.
Speaker 6: The UK banking boss was speaking to Bloomberg last week,
Speaker 6: where he announced more than two billion pounds in quarterly profits. Together,
Speaker 6: the biggest UK banks have netted thirty billions so far
Speaker 6: this year. Already their CEOs are starting to talk about
Speaker 6: not making them a target in London, James Wilcock Bloomberg.
Speaker 1: Radio Mata has been ordered to pay five hundred and
Speaker 1: sixty seven million dollars to the US state of New
Speaker 1: Mexico and to make changes to protect underage users after
Speaker 1: losing a landmark court case. The judge likened the social
Speaker 1: media giant to a polluting factory and order measures including
Speaker 1: time limits and a halt to night time push notifications
Speaker 1: for miners. Meta plans to appeal, with its total exposure
Speaker 1: in the New Mexico case now at more than nine
Speaker 1: hundred million dollars. The ruling could also clear the way
Speaker 1: for other states and school districts to argue that social
Speaker 1: media addiction is a public nuisance contributing to a broader
Speaker 1: mental health crisis.
Speaker 2: Open AI's first consumer device will have a unique look.
Speaker 2: The new product is expected to be released in twenty
Speaker 2: twenty seven. Boomboks tb out of Bio has more.
Speaker 8: Open AI's newest offering will look like a donut and
Speaker 8: likely costs more than three hundred dollars. Bloomberg understands the
Speaker 8: device will be a smart speaker without a display, featuring
Speaker 8: microphones and lights to demonstrate when it's listening. It's thought
Speaker 8: the unusual design will help the product stand out from
Speaker 8: other smart speakers, a category currently dominated by Amazon and Google.
Speaker 8: Users are expected to rely on the new hardware throughout
Speaker 8: the day, and it will function similarly to the company's
Speaker 8: Chat GPT voice mode on smartphone apps. The speaker is
Speaker 8: seen as a way to ease into the market for
Speaker 8: Opening like who eventually plans to offer a family of
Speaker 8: devices in London to You added by Bloomberg Radio Now.
Speaker 1: Lastly, FIFA is looking to keep lucative World Cup water
Speaker 1: breaks as part of the next media deal. Bloomberg understands
Speaker 1: that football's governing body is exploring selling US media rights
Speaker 1: for the next two tournaments, maintaining the controversial hygh duration breaks,
Speaker 1: which boost to ad revenue. Sources tell us that negotiations
Speaker 1: are still in the very early stages, but the tournament
Speaker 1: organizes also interested in bundling rights for English and Spanish
Speaker 1: broadcasts together. The news comes as FIFA faces termoil over.
Speaker 1: President Johnny Infantinos now canceled plans to raise money from
Speaker 1: commercial investors. FIFA has declined to comment on those reports.
Speaker 2: And those are your top stories on the markets this morning.
Speaker 2: At brand crude oil at one percent eighty three dollars
Speaker 2: thirty eight a. Natural gas on the Dutch TTF benchmark
Speaker 2: up by two point nine percent. Eurostouctivity features are a
Speaker 2: tenth of one percent lower. In the tenure treasury yield
Speaker 2: is holding steady this morning at four point six eight percent.
Speaker 1: That's news when you want it. With Bloomberg News Now,
Speaker 1: I'm Caroline Hepka
Speaker 2: I'm Stephen Carol, and this is Bloomberg