EU-China Tensions, Global Stock Rally Powers On, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
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And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
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You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris on Apple, Spotify, YouTube or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Tiwa Adebayo. And I'm Caroline Hipker. There are signs this morning that China is becoming a growing pressure point for European trade. Sources tell Bloomberg that Beijing has been dragging its feet on approvals for Airbus plane deliveries as EU regulators take time to certify China's domestically made aircraft. And despite being the world's largest commercial jet maker, Airbus has delivered its fewest jets to China in the first quarter since 2009. The reporting comes as Brussels prepares possible new measures to counter China's export surge and widening trade imbalance with Europe. Jens Eskeland is president of the European Union Chamber of Commerce in China.
We are seeing that China is beginning to develop an extraterritorial regulatory toolbox similar to what we see in the United States. And sometimes some of these regulations are in direct contradiction with each other. This is something that creates uncertainty. We don't know how to comply sometimes, in particular if there are contradictions. So I think there's a lot of uncertainty on the regulatory agenda right now.
Escalon's comments come as a new survey from the Chamber shows European firms in China are becoming more optimistic about their business outlook. But despite signs of improvement, business confidence remains near historic lows by several measures. 68% of respondents said business conditions in their industry became more difficult over the past year.
The U.S. is again signaling progress in peace talks with Iran despite fresh hostilities this week and continued uncertainty around the Strait of Hormuz. Security in the critical shipping route remains unclear after both sides exchanged strikes. The U.S. military has pushed back on reports that it has been helping to escort commercial vessels through the Strait. Republican Senator Rick Scott says that reaching any deal with Iran will be difficult.
Do I believe it's going to be easy to get a deal? I think it's going to be hard. I mean, these are ideologues. So I'm optimistic. You know, the president has gotten a lot of stuff done, but we're dealing with some crazy people that have crazy ideas. And so who knows what else we have in store. But I do know this. I don't see there's any way Trump will give in unless they have no ability to have a nuclear weapon or ballistic missiles.
Florida Senator Rick Scott speaking to Bloomberg after President Trump said that negotiations with Tehran to extend the ceasefire and reopen the Strait of Hormuz are continuing.
UK households are set to face the biggest increase in energy bills since 2023. The country's energy price cap will rise by 13% from July as war in Iran drives up wholesale gas and power costs. Will Kennedy is our EMEA news director.
I think policymakers will be much more focused on the October changes. And if we don't see a meaningful drop in energy prices from here, you could see another big jump then going into the winter months where people have got their heating on and they really feel it.
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