WEBVTT - Farage Beats Binface, 2001 US Debt Cost Record, Weather Forecasting Drones 0:00:02.560 --> 0:00:10.960 Bloomberg Audio Studios, Podcasts, radio news. This is the Bloomberg 0:00:11.039 --> 0:00:14.240 Daybreak EUROP podcast. Good morning, It's Friday, the fourteenth of August. 0:00:14.360 --> 0:00:18.160 I'm Stephen Caroll in London. Coming up today, Nigel Farage 0:00:18.200 --> 0:00:21.000 wins the UK by election that he triggered, but skips 0:00:21.040 --> 0:00:24.919 the declaration as joke candidate count Binface steals much of 0:00:24.960 --> 0:00:28.520 the limelight. US long term borrowing costs return to levels 0:00:28.600 --> 0:00:31.320 last scene in two thousand and one in a debt 0:00:31.360 --> 0:00:34.600 auction that sends a warning to the White House. Plus 0:00:34.680 --> 0:00:37.639 from war zones to weather zones, we look at how 0:00:37.640 --> 0:00:41.040 the drone technology honed on the battlefield is finding a 0:00:41.080 --> 0:00:44.720 new role in forecasting. Let's start with the roundup of 0:00:44.720 --> 0:00:48.040 our top stories. Nigel Farage has won his by election 0:00:48.120 --> 0:00:50.640 in the East of England nearly sixty three percent of 0:00:50.760 --> 0:00:54.120 the vote, with none of the other leading parties fielding candidates. 0:00:54.320 --> 0:00:57.000 The Reform UK leader triggered the election after quitting his 0:00:57.040 --> 0:01:00.000 seat last month amid an investigation into whether he failed 0:01:00.120 --> 0:01:03.400 to declare a five million pounds gift from an overseas 0:01:03.480 --> 0:01:07.200 crypto billionaire for as got more than twenty two thousand votes, 0:01:07.240 --> 0:01:10.600 while joke candidate count Binface came second with close to 0:01:10.680 --> 0:01:13.399 nine thousand, five hundred, taking more than a quarter of 0:01:13.400 --> 0:01:16.000 all votes cast, but for As wasn't there to hear 0:01:16.040 --> 0:01:19.120 the result declared. Instead, he declared victory himself at a 0:01:19.120 --> 0:01:22.800 Reform UK event before the official announcement, claiming he'd beaten 0:01:22.840 --> 0:01:23.720 the establishment. 0:01:24.560 --> 0:01:27.440 I regret it so, but I'm damned if I'm going 0:01:27.480 --> 0:01:30.959 to stand on the stage having won a resounding victory, 0:01:31.280 --> 0:01:34.520 a ringing endorsement of all that I've tried to fight for, 0:01:34.920 --> 0:01:37.840 and you try to fight for and be demeaned and 0:01:37.920 --> 0:01:39.760 humiliated by nobody's. 0:01:39.959 --> 0:01:43.800 Nige Farar, speaking before the result was declared, and count Binface, 0:01:43.840 --> 0:01:46.840 who did attend the account, challenged the Reform UK leaders, 0:01:47.000 --> 0:01:48.800 claimed that he'd beaten the establishment. 0:01:49.360 --> 0:01:51.720 Well that's interesting, isn't it, Because one of the candidates 0:01:51.760 --> 0:01:57.120 is was a sitting MP, formerly an MEP, architecture of Brexit, 0:01:57.640 --> 0:02:01.240 one of the most significant British politicians the last twenty years, 0:02:01.280 --> 0:02:05.240 and reputedly a member of the East India Gentlemen's Club, 0:02:05.400 --> 0:02:08.880 which to this day does not admit women. Now that's 0:02:08.919 --> 0:02:11.080 not the establishment. I'd like to know it is because 0:02:11.080 --> 0:02:11.800 I'm a lone wolf. 0:02:11.840 --> 0:02:16.120 Space for you count Binface, the creation of satirist Jonathan 0:02:16.160 --> 0:02:19.480 Harvey became Farag's main challenger after the main party's declined 0:02:19.520 --> 0:02:22.560 to stand dismissing the election as a political stunt. With 0:02:22.639 --> 0:02:25.600 Farage back in Parliament, the investigation into his finances will 0:02:25.600 --> 0:02:28.560 now resume, with the results of that probe possibly triggering 0:02:28.600 --> 0:02:32.400 a second by election for the Reform UK leader. The 0:02:32.400 --> 0:02:35.400 by election comes as Prime Minister Andy Burnham's economic agenda 0:02:35.440 --> 0:02:38.359 is starting to take shape. Bloomberg understands his government's first 0:02:38.440 --> 0:02:41.320 budget in October will focus on cutting business rates for 0:02:41.400 --> 0:02:44.760 smaller companies. Burnham has publicly suggested that could be funded 0:02:44.760 --> 0:02:48.040 by higher taxes on larger firms, but retailers warrant that 0:02:48.040 --> 0:02:51.880 could backfire by pushing up prices. The United States has 0:02:51.880 --> 0:02:54.400 sold thirty year government debt at the highest interest rate 0:02:54.440 --> 0:02:56.760 in a quarter of a century. There was decent demand 0:02:56.760 --> 0:02:58.720 from buyers, but the Treasury had to offer a yield 0:02:58.760 --> 0:03:01.399 to above five point two percent to sell twenty five 0:03:01.520 --> 0:03:04.359 billion dollars worth of bonds. That's the highest rate since 0:03:04.360 --> 0:03:07.280 two thousand and one. As years of elevated inflation and 0:03:07.360 --> 0:03:11.000 deficit field spending add to the strain on US government finances. 0:03:11.320 --> 0:03:14.120 BIM Big Intelligence is chief US interest rates strategist. To 0:03:14.160 --> 0:03:16.880 Ira Jersey says, it's part of a broader picture. 0:03:17.520 --> 0:03:21.760 The US Treasury now is competing with other countries worldwide. 0:03:21.760 --> 0:03:24.600 Whereas for the better part of two decades we were 0:03:24.600 --> 0:03:28.600 the highest yielding developed market liquid bomb market in the world. 0:03:28.880 --> 0:03:31.760 That's just not the case anymore. There is competition on 0:03:31.840 --> 0:03:34.960 the net debt issue. So far, I don't think that 0:03:35.000 --> 0:03:37.440 people are so worried about it when it comes to 0:03:37.560 --> 0:03:40.920 whether or not the US will pay its pay its 0:03:40.920 --> 0:03:43.840 bills and pay its debt. But as debt to GDP 0:03:44.120 --> 0:03:47.400 continues to get bigger and bigger, you will hear more 0:03:47.440 --> 0:03:49.040 of those types of questions. 0:03:49.840 --> 0:03:52.800 Ira Jersey was referring to US spending close to one 0:03:52.800 --> 0:03:56.560 point two trillion dollars on debt interests so far this 0:03:56.640 --> 0:04:00.840 fiscal year. That's up from fifteen percent from a year ago, 0:04:00.960 --> 0:04:04.200 as higher yields make the federal governments thirty four point 0:04:04.320 --> 0:04:09.240 six trillion dollar debt pile more expensive to finance. Let's 0:04:09.240 --> 0:04:12.040 return to the UK and breaking news from the election 0:04:12.480 --> 0:04:17.760 in Clacton. Nigel Farag has won reelection in that by 0:04:17.800 --> 0:04:22.599 election vote with some sixty two percent of the vote 0:04:22.800 --> 0:04:27.400 this morning, so count Binface, the opposition candidate winning twenty 0:04:27.560 --> 0:04:31.479 six point seven percent of the vote as well, so 0:04:31.560 --> 0:04:33.680 more than a quarter of the overall vote of thirty 0:04:33.680 --> 0:04:37.640 five thousand votes going to that joke candidate. Count Binface, 0:04:37.839 --> 0:04:41.279 but Nigel Farag winning re election in his seat in 0:04:41.560 --> 0:04:44.800 Clacton in the east of England. The United States is 0:04:44.839 --> 0:04:47.880 preparing to announce economic measures against Iran next week as 0:04:47.880 --> 0:04:51.840 the Trump administration intensifies its effort to squeeze Tehran's finances. 0:04:52.000 --> 0:04:55.240 Treasury Secretary Scott Bessen says the steps will work alongside 0:04:55.279 --> 0:04:58.320 the continued blockade of Iranian ports. Here's what he tells 0:04:58.360 --> 0:05:00.520 the conservative leaning Newsmax network. 0:05:00.760 --> 0:05:05.000 The kinetic war ended after several weeks, and we went 0:05:05.080 --> 0:05:10.159 from epic fury to economic fury, and at the President's orders, 0:05:10.520 --> 0:05:16.200 we have raised the level even again and watch the 0:05:16.279 --> 0:05:19.720 space for more announcements coming next week, because we are 0:05:19.760 --> 0:05:24.200 going to apply measures like have never been seen in 0:05:24.240 --> 0:05:29.240 the history of economic isolation on a country. 0:05:29.839 --> 0:05:32.680 Scott Besson's comments on Newsmax comm As the US faces 0:05:32.720 --> 0:05:35.960 growing pressure on its weapons stockpiles after nearly six months 0:05:35.960 --> 0:05:39.040 of war, Bloomberg Economics says it supplies of key air 0:05:39.080 --> 0:05:43.560 defense interceptors are critically low, while long range missile stocks 0:05:43.680 --> 0:05:47.400 are under pressure, potentially limiting Washington's options if it chooses 0:05:47.440 --> 0:05:51.400 to escalate the conflict. Sources tell Bloomberg that open ai 0:05:51.520 --> 0:05:53.960 is on track to generate more than forty billion dollars 0:05:54.000 --> 0:05:56.920 in annualized revenue that would roughly double its run rate 0:05:56.920 --> 0:05:59.200 from the end of twenty twenty five. The growth is 0:05:59.240 --> 0:06:02.839 being driven by AI coding tools, subscriptions, and a small 0:06:02.880 --> 0:06:07.080 but growing advertising business. The momentum strengthens OpenAI's case for 0:06:07.120 --> 0:06:10.880 a future at Wall Street debut as competition with Anthropic intensifies. 0:06:11.279 --> 0:06:14.599 Both firms have filed confidential paperwork to go public, with 0:06:14.680 --> 0:06:19.120 the Anthropic IPO expected as soon as this autumn. Poland 0:06:19.240 --> 0:06:22.160 says its security services have thwarted a Russian plot to 0:06:22.240 --> 0:06:26.240 kill a Ukrainian US citizen. Prime Minister Donald Tusk says 0:06:26.240 --> 0:06:29.240 that the country's internal security agency and police attained a 0:06:29.320 --> 0:06:31.920 Russian national last week had been recruited to carry out 0:06:31.960 --> 0:06:34.440 the assassination. Tusk went on to point the finger at 0:06:34.480 --> 0:06:35.960 Russian President Vladimir Putin. 0:06:38.880 --> 0:06:42.719 Unfortunately, we must accept the assumption that the Putin regime 0:06:42.839 --> 0:06:47.000 will seek to eliminate inconvenient individuals in various parts of 0:06:47.040 --> 0:06:50.640 the world. Therefore, our actions in this matter will be 0:06:50.760 --> 0:06:55.800 extremely intensive to prevent any further attempts against citizens of 0:06:55.839 --> 0:06:57.560 Poland or other countries. 0:06:58.520 --> 0:07:01.200 Published Prime Minister Donald Tusk speaking at a press conference 0:07:01.279 --> 0:07:04.160 in Warsaw. The news comes as European officials war in 0:07:04.240 --> 0:07:08.279 Russia may escalate sabotage and covert attacks across the continent 0:07:08.320 --> 0:07:11.440 as its war in Ukraine enters a fifth year. Russia 0:07:11.440 --> 0:07:15.840 has previously denied responsibility for incidents in Europe, and twenty 0:07:15.840 --> 0:07:18.720 twenty six is projected to become the world's hottest year ever. 0:07:18.840 --> 0:07:22.440 According to nonprofit Berkeley Earth, an unusually paraphul al Nino 0:07:22.520 --> 0:07:24.720 weather phase is raising the odds that this year will 0:07:24.720 --> 0:07:27.920 surpass twenty twenty four before twenty twenty seven. So that's 0:07:27.960 --> 0:07:30.600 a new high Archie. If your correspondent Oliver Crook says, 0:07:30.640 --> 0:07:33.680 falling water levels in some of Europe's most important waterways 0:07:34.080 --> 0:07:36.360 could cause significant disruption. 0:07:37.040 --> 0:07:39.320 So if this goes on for another month, two months, 0:07:39.400 --> 0:07:41.960 three months, it's going to have a fairly substantial impact 0:07:42.000 --> 0:07:44.120 on the economy. How big, I think it's very hard 0:07:44.160 --> 0:07:46.280 to say. We have some smisus from some of the houses. 0:07:46.440 --> 0:07:49.520 IG says that it could cause German growth zero point 0:07:49.520 --> 0:07:51.840 three percentage points of growth, which is close to half 0:07:51.840 --> 0:07:54.200 of what we're estimating here in Germany for the full year. 0:07:54.560 --> 0:07:57.600 It's Bloomberg's Oliver Krook. This summer's multiple European heat waves 0:07:57.600 --> 0:08:02.400 have already abended harvests and disrupted critic produce transport routes. 0:08:02.800 --> 0:08:06.240 Wheat futures in Paris and Chicago have gained nineteen percent 0:08:06.280 --> 0:08:09.440 and twelve percent, respectively over the last two months, while 0:08:09.480 --> 0:08:13.440 corn prices in both markets have soared as well, and 0:08:13.480 --> 0:08:15.160 those are some of our top stories on the program. 0:08:15.160 --> 0:08:16.840 On the markets, the stock Sison is up by three 0:08:16.880 --> 0:08:20.120 tenths of one percent, the Mscish Pacific Index just slightly 0:08:20.160 --> 0:08:22.160 higher on the day. The Costpian sold up by one 0:08:22.160 --> 0:08:25.360 point four percent, the HANKSNG Tech index so down by 0:08:25.360 --> 0:08:28.160 two percent. Oil prices holding pretty steady for Brent crewed 0:08:28.160 --> 0:08:30.600 eighty seven dollars and twelve cents this morning. The Bloomberg 0:08:30.640 --> 0:08:33.200 Dollar Spot index is a tenth weeker. The Japanese yen 0:08:33.240 --> 0:08:36.480 a touch stronger at one fifty nine thirty three against 0:08:36.520 --> 0:08:38.600 the dollar, when in a moment we'll bring you more 0:08:38.720 --> 0:08:42.680 on Nigel Farage's winning in that by election vote that 0:08:42.720 --> 0:08:46.360 he triggered, plus how drones are providing crucial new insights 0:08:46.720 --> 0:08:49.679 into weather forecasting. But first to another story that we've 0:08:49.720 --> 0:08:52.200 been reading this morning on the lens that some pet 0:08:52.360 --> 0:08:55.040 owners are going to to try and prolong the life 0:08:55.040 --> 0:08:58.480 of their animals, and Etne and anake in Ampudi have 0:08:58.520 --> 0:09:02.640 been meeting pet owners that are giving their animals peptide injections, 0:09:02.760 --> 0:09:05.840 red light treatments, and pills that they believe will help 0:09:05.920 --> 0:09:09.040 their dogs and cats, mainly to live longer. It's a 0:09:09.040 --> 0:09:12.200 world that's based on minimal science, but advice instead coming 0:09:12.200 --> 0:09:15.640 from social media influencers and AI chatbots. Vets say that 0:09:15.679 --> 0:09:18.200 cobbling together these treatments can be risky and worn against 0:09:18.200 --> 0:09:21.760 giving unproven medication to aging animals. In fact, many find 0:09:21.760 --> 0:09:24.360 that the supplements themselves that can make pets sick, and 0:09:24.400 --> 0:09:26.720 it can be difficult to get owners to stop taking 0:09:26.760 --> 0:09:28.720 them or to stop giving them rather to the animals. 0:09:28.880 --> 0:09:31.400 Spending in this area though pet supplements, according to one 0:09:31.480 --> 0:09:34.680 estimate Topple, topped two point nine billion dollars in the 0:09:34.800 --> 0:09:38.679 US last year. About ten percent of owners buying their 0:09:38.679 --> 0:09:42.760 animals anti aging supplements. Perhaps the most interesting part of this, though, 0:09:43.000 --> 0:09:46.720 is why pet owners are doing this, sometimes even sharing 0:09:46.760 --> 0:09:49.720 their own medication with their animals. Most of them say 0:09:49.720 --> 0:09:51.680 that if it's good enough for them, in many cases 0:09:51.720 --> 0:09:53.480 of no evidence for that either, why isn't it good 0:09:53.559 --> 0:09:56.520 enough for their pets. On the more serious side, though, 0:09:56.520 --> 0:09:59.800 there are universities and pet drug companies doing research into 0:09:59.840 --> 0:10:02.280 t treatmos for older petss. Paper in area that we'll 0:10:02.280 --> 0:10:03.680 be hearing a lot more about in the future, but 0:10:03.720 --> 0:10:05.839 a fascinating read from our colleagues. We'll put a link 0:10:05.840 --> 0:10:07.880 to us in our podcast show notes. Let's bring you 0:10:07.880 --> 0:10:10.720 the latest then on that by election in England triggered 0:10:10.760 --> 0:10:13.360 by Reform UK leader at Nigel at Farage just stepping 0:10:13.360 --> 0:10:15.439 down so he could run for reelection, which he has 0:10:15.520 --> 0:10:18.360 now won. That vote the process put us up to 0:10:18.400 --> 0:10:22.040 a parliamentary investigation into his finances. Our UK politics reporter 0:10:22.160 --> 0:10:25.080 James Wilcock joins us now for more on this story. James, 0:10:25.160 --> 0:10:28.680 we had the results just after six am here in London. 0:10:29.000 --> 0:10:30.720 Took us through what they show. 0:10:30.840 --> 0:10:34.120 Well, he has one decisively Stephen, but that was almost 0:10:34.200 --> 0:10:38.400 never in doubt really, Nigel farrag won twenty nine votes, 0:10:38.400 --> 0:10:40.880 which is sixty two percent of the vote there with 0:10:40.960 --> 0:10:44.320 his main opponent, the comedian count Binface, winning twenty six 0:10:44.360 --> 0:10:47.320 percent of the vote with nine four hundred and fifty 0:10:47.320 --> 0:10:49.840 five votes. What's interesting to me it jumps out is 0:10:49.880 --> 0:10:52.560 that for a by election, a turnout of just over 0:10:52.640 --> 0:10:56.200 forty forty four percent is really quite high. If you 0:10:56.240 --> 0:10:59.079 go back to twenty twenty four in that seat in Clacton, 0:10:59.320 --> 0:11:01.200 there was a fifty eight eight percent turnout. As a 0:11:01.360 --> 0:11:03.760 rough yard sick, you expect how to drop to about 0:11:03.760 --> 0:11:06.280 two thirds, which would be thirty five percent. So a 0:11:06.320 --> 0:11:09.760 lot of people came out for reform, so much in fact, 0:11:09.880 --> 0:11:13.160 that Nigel's vote count has gone up since twenty twenty 0:11:13.200 --> 0:11:15.640 four and twenty twenty four it was twenty one thousand, 0:11:15.960 --> 0:11:19.080 it's now twenty two thousand. So the other sort of 0:11:19.080 --> 0:11:22.040 surprising thing here is there aren't many good markers to 0:11:22.080 --> 0:11:25.160 measure count Binface's performance. He's a comedian, he's a satirist. 0:11:25.480 --> 0:11:28.280 But if you took together all of the opposition parties 0:11:28.400 --> 0:11:31.000 in twenty twenty four, you have about twenty thousand votes, 0:11:31.280 --> 0:11:34.200 and so Binface is nine thousand, and I need to 0:11:34.240 --> 0:11:36.400 add in here when bin Face ran its Andy Burnham 0:11:36.400 --> 0:11:39.679 in Makerfield he got ninety one, Yeah, ninety one full 0:11:39.760 --> 0:11:43.640 stops vote. You can see that there was a clear 0:11:43.679 --> 0:11:47.120 coming together to try and have an anti reform vote. 0:11:47.360 --> 0:11:50.959 But Clacton is a remarkable seat. It has voted Reform, 0:11:51.080 --> 0:11:53.360 it has voted UKIP for more than a decade now. 0:11:53.679 --> 0:11:55.640 It was never in doubt for idred Win this but 0:11:55.720 --> 0:11:58.560 it is notable how much support there is for him 0:11:58.600 --> 0:11:59.040 in this seat. 0:11:59.320 --> 0:12:01.280 I mean, the other very curious factor about this by 0:12:01.320 --> 0:12:04.760 election is that the other main parties didn't rrect candidates. 0:12:04.800 --> 0:12:08.120 So I suppose is there a broader implication actually for 0:12:08.160 --> 0:12:10.600 British politics from the outcome of this vote. 0:12:11.120 --> 0:12:15.520 This is a moment where Reform are struggling to become 0:12:15.559 --> 0:12:19.720 the main party of the right. Nigel Ferrag has become 0:12:20.280 --> 0:12:22.839 the highest polling party in the UK at the start 0:12:22.880 --> 0:12:25.120 of this year. He's now neck and neck with Labor 0:12:25.200 --> 0:12:28.559 in the Reform UK and that has come as they 0:12:28.600 --> 0:12:31.439 have run into scandals around funding. There have been issues 0:12:31.480 --> 0:12:34.120 around the language they use, migration in race and in 0:12:34.120 --> 0:12:36.360 many ways the shine around Farag has come off as 0:12:36.360 --> 0:12:38.680 a Canadate and that is what led him to call 0:12:39.080 --> 0:12:42.200 this by election. But at its core, Reform can turn 0:12:42.240 --> 0:12:45.320 out in any constituency a roughly twenty five percent of 0:12:45.320 --> 0:12:48.360 the national vote. That is a remarkable number, but it's 0:12:48.400 --> 0:12:51.240 not quite big enough to take over the mainstream mantle 0:12:51.520 --> 0:12:53.800 of being the Conservative party. He still also exists in 0:12:53.840 --> 0:12:56.280 twenty percent. So we are in this moment now where 0:12:56.400 --> 0:12:58.840 Labor have picked a new prime Minister, Andy Burnham. They 0:12:58.880 --> 0:13:00.680 are seeing a boun from the pole. They in the 0:13:00.720 --> 0:13:03.840 Manchester Maryor election recently have shown they can unite some 0:13:03.920 --> 0:13:06.120 of the left wing vote, the Green votes, and in 0:13:06.160 --> 0:13:09.040 many ways Count Binfow shows this too can unite an 0:13:09.080 --> 0:13:13.000 anti reform vote. But on the right wing of politics, 0:13:13.600 --> 0:13:16.960 Nigel Farrage has not yet demonstrated the ability to unite 0:13:17.080 --> 0:13:20.240 the mainstream right and the far right together. That's what 0:13:20.280 --> 0:13:23.600 this shows, and in many ways him calling this election 0:13:24.120 --> 0:13:25.960 shows that the struggle to sort of take over that 0:13:26.040 --> 0:13:26.760 media narrative. 0:13:27.240 --> 0:13:29.719 There was a particular reason why Niger Farras called this 0:13:29.840 --> 0:13:31.560 by election as well, which was to do with this 0:13:31.640 --> 0:13:34.839 parliamentary investigation into his finances. What do we know about 0:13:34.840 --> 0:13:36.520 what happens to that investigation now? 0:13:36.760 --> 0:13:39.600 Well, now that he is regaining his seat as an MP. 0:13:40.320 --> 0:13:44.120 That investigation will resume because the reason this investigation happened 0:13:44.240 --> 0:13:47.719 is Nigel Farrage before he said he was running for 0:13:47.760 --> 0:13:49.560 an MP to be an MP in twenty twenty four 0:13:49.600 --> 0:13:53.440 except a donation of five million pounds from a crypto billionaire. 0:13:53.840 --> 0:13:56.640 Now the rule state if you're not working political life, 0:13:56.679 --> 0:13:59.840 you don't have to declare your donations. Farage says that 0:13:59.880 --> 0:14:02.200 he wasn't thinking about politics at the time, therefore he 0:14:02.200 --> 0:14:06.240 can have to donate it. The Parliamentary Stands inquiry is 0:14:06.280 --> 0:14:09.760 looking into if Farad was politically motivated at that time 0:14:09.800 --> 0:14:13.240 and if therefore this was an omission. Obviously if he 0:14:13.679 --> 0:14:15.520 was not an MP, so when you step down to 0:14:15.520 --> 0:14:17.760 the BNP they don't have to look into that anymore. 0:14:17.840 --> 0:14:20.200 Now he's back in being an MP again, there will 0:14:20.200 --> 0:14:23.000 resume that. So this story will run and run and run, 0:14:23.240 --> 0:14:25.640 as will journal that's looking into it, and so by 0:14:25.680 --> 0:14:28.200 no means is the media difficulties reform face on this 0:14:28.240 --> 0:14:28.760 issue over. 0:14:29.000 --> 0:14:30.960 Okay, James, thank you very much for bringing us the 0:14:31.040 --> 0:14:33.200 d just on that breaking news this morning, our UK 0:14:33.280 --> 0:14:37.960 politics reporter James Wilcock, stay with us more from Bloomberg 0:14:38.040 --> 0:14:42.360 Daybreak Europe coming up after this. The heat wave warnings 0:14:42.360 --> 0:14:44.440 are still in place in much of Europe today, although 0:14:44.480 --> 0:14:46.840 the peak and temperatures has now passed in France and 0:14:46.880 --> 0:14:50.480 in the UK. More frequent extreme weather events, though, are 0:14:50.520 --> 0:14:54.280 pushing forecasters into using new technologies. Drones are now a 0:14:54.360 --> 0:14:57.040 key tool and gathering weather data. And our weather and 0:14:57.040 --> 0:14:59.080 climate reporter Joe where it joins us now for more 0:14:59.480 --> 0:15:01.320 on this to or a joke, good morning and more. 0:15:01.640 --> 0:15:06.200 How can drones help in collecting data for weather forecasting? 0:15:06.960 --> 0:15:11.000 So, one big thing is what's known as the boundary layer. 0:15:11.080 --> 0:15:14.000 This is the layer of atmosphere that's closest to the ground. 0:15:14.160 --> 0:15:17.960 And uh, you know, this is a poorly observed layer 0:15:18.000 --> 0:15:21.920 of the atmosphere. And you know, uh, these commercial weather 0:15:21.960 --> 0:15:25.600 firms say that collecting more data and in this layer 0:15:25.600 --> 0:15:29.880 of atmosphere can tell them all sorts of of of 0:15:29.880 --> 0:15:34.480 of interesting things about how clouds form, how fog forms, 0:15:34.880 --> 0:15:39.000 how wind patterns shift. And they're they're using drones to 0:15:39.680 --> 0:15:43.200 record these measurements, and that these are these automated drones 0:15:43.280 --> 0:15:45.440 and and and they just go up and they go 0:15:45.560 --> 0:15:48.760 down and they fly out of these little bases, these uh, 0:15:49.080 --> 0:15:51.960 little like base stations and collecting this data and then 0:15:52.000 --> 0:15:55.920 goes into these weather models and and it it feeds, 0:15:56.360 --> 0:16:00.960 uh this this better understanding of this data gap that 0:16:01.040 --> 0:16:04.320 is sort of plagued weather researchers for a long time. 0:16:04.440 --> 0:16:07.760 And and and uh uh you know, turning over a 0:16:07.800 --> 0:16:11.080 much better modeling of that layer of atmosphere, and and 0:16:11.120 --> 0:16:15.720 it's it's delivering real, real results for things that are 0:16:15.720 --> 0:16:19.960 increasingly important like renewable solar and and and wind forecasts, 0:16:19.960 --> 0:16:22.440 which are becoming a bigger and bigger deal in our 0:16:22.560 --> 0:16:23.840 in our electricity grids. 0:16:23.960 --> 0:16:26.880 Yeah, indeed, I mean how widespread is is this method 0:16:26.920 --> 0:16:29.120 when it comes to collecting this data given that it's 0:16:29.400 --> 0:16:30.040 it's important. 0:16:30.320 --> 0:16:32.120 You know, this is still pretty cutting edge stuff, but 0:16:32.240 --> 0:16:35.800 it is, you know, getting close to where it's operationalized. 0:16:35.840 --> 0:16:39.520 These companies that are doing this really see a future 0:16:39.560 --> 0:16:44.200 where this type of weather data collecting is really part 0:16:44.200 --> 0:16:47.760 of like weather infrastructure if if you can imagine it 0:16:47.800 --> 0:16:50.400 that way, that these drones would be part of these 0:16:50.440 --> 0:16:53.200 automated systems and they could collect a lot more data 0:16:53.720 --> 0:16:55.440 in this automated fashion. 0:16:55.760 --> 0:16:55.880 Uh. 0:16:56.040 --> 0:16:58.560 You know, a lot of weather data is still collected 0:16:59.080 --> 0:17:03.360 in a very very manual way, with things like weather balloons, 0:17:03.600 --> 0:17:06.480 those are launched twice a day at hundreds of places 0:17:06.560 --> 0:17:11.160 around the world. And it's very much somebody walks out 0:17:11.480 --> 0:17:15.080 with a balloon filled with helium and uh and a 0:17:15.200 --> 0:17:19.159 very big balloon and and and and launches it and uh. 0:17:19.760 --> 0:17:25.120 These uh, these researchers and UH firms say, uh, look 0:17:25.119 --> 0:17:26.719 we should we can, we can, we can automate this, 0:17:26.800 --> 0:17:30.040 we can use technology, we can take more measurements, more 0:17:30.080 --> 0:17:34.280 frequently from more locations and and and uh and do 0:17:34.440 --> 0:17:37.920 more here. And the testing is starting to to really 0:17:38.000 --> 0:17:41.919 ramp up in places like Norway, where they're already successfully 0:17:42.040 --> 0:17:45.719 using this and the weather modeling that comes from this 0:17:46.600 --> 0:17:50.840 for defense, uh, for flying military drones. So we've got 0:17:50.920 --> 0:17:54.520 drones helping military drones, uh in this case weather drones 0:17:54.800 --> 0:17:58.320 helping military drones and and and other places are trying 0:17:58.320 --> 0:18:01.439 this to Germany, Switzerland and in the US. 0:18:02.080 --> 0:18:05.040 What does it mean then for the future of forecasting? 0:18:05.119 --> 0:18:07.520 What will we be able to tell now that perhaps 0:18:07.520 --> 0:18:08.440 we couldn't before. 0:18:08.960 --> 0:18:11.640 Yeah, So with these drums in particular, what they're really 0:18:11.680 --> 0:18:15.080 looking at is, uh, you know, the two days ahead 0:18:15.119 --> 0:18:18.959 to three days ahead forecast, that is, the data collected 0:18:18.960 --> 0:18:22.159 in this layer of atmosphere can and really have the 0:18:22.200 --> 0:18:25.400 biggest gains. And that's you know, sort of a few 0:18:25.480 --> 0:18:29.840 days ahead type of weather, and that is particularly interesting 0:18:30.000 --> 0:18:34.080 for energy traders because that is the sort of, you know, 0:18:34.160 --> 0:18:36.359 one of the ranges that they closely watch because it 0:18:36.480 --> 0:18:39.639 changes so much, and it changes in subtle ways and 0:18:39.680 --> 0:18:42.760 can change quickly, but it has a big downstream effect 0:18:42.800 --> 0:18:45.760 on the amount of sun that's shining on solar panels, 0:18:45.800 --> 0:18:49.000 the amount of wind that's blowing in wind parks, and 0:18:49.080 --> 0:18:53.000 that has you know, big effects on the amount of 0:18:53.040 --> 0:18:56.719 power that's on the grid and the amount of demand 0:18:56.800 --> 0:19:01.439 for that power from from from from customers. So a 0:19:01.480 --> 0:19:05.600 lot of interest from energy firms and traders there. You know, 0:19:06.000 --> 0:19:08.639 it's some case just to cut down on any of 0:19:08.640 --> 0:19:10.879 the errors that come in with that type of forecasting, 0:19:11.240 --> 0:19:14.200 but hey, they're also looking for profitable advantages if you're 0:19:14.240 --> 0:19:17.480 an energy firm. 0:19:17.680 --> 0:19:20.040 Thanks for listening to Bloomberg Daybreak Europe. 0:19:20.200 --> 0:19:22.760 If you're enjoying the podcast, give us a follow, leave 0:19:22.800 --> 0:19:25.000 a rating or review, and maybe send it to that 0:19:25.160 --> 0:19:27.959 one friend or colleague who's always trying to keep up 0:19:28.000 --> 0:19:28.600 with the news. 0:19:29.000 --> 0:19:31.119 And if one podcast today isn't it enough for you? 0:19:31.119 --> 0:19:33.680 You can also listen to us live every weekday from 0:19:33.800 --> 0:19:36.800 six am in London on DAB Radio, on tune in 0:19:37.000 --> 0:19:38.919 and on the Bloomberg Business app. 0:19:39.160 --> 0:19:41.600 Oh if you've got a smart speaker nearby, just say 0:19:41.760 --> 0:19:43.080 play Bloomberg Radio.