Europe's Fifth Heat Wave, Trump Hardens Iran Stance, More
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Why is Europe experiencing its fifth severe heat wave and what are the impacts on rivers and agriculture?
AI is entering its most consequential phase where scale, safety, and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor Salesforce and supporting sponsors IDA Island and Schneider Electric. Learn more at BloombergLive.com slash. Slash Tech London.
News when you want it. With Bloomberg News Now, I'm Lizzie Burden.
And I'm Stephen Carroll.
Intense heat is again sweeping across Europe, deepening drought and adding pressure on rivers, crops, and power grids, too. Temperatures in parts of France are forecast to hit as high as 39 degrees Celsius this week, while southern England could reach the mid-30s. The River Rhine is at record lows at a key shipping point, with water levels expected to fall to just four centimetres by Friday. France is also forecasting its smallest. corn harvest since nineteen eighty as a result of the weather. Professor Marco Marco Springman is a senior researcher at Oxford University covering climate change and food systems.
What is more concerning is the price of foods.
How is the extreme July heat affecting the United States and what records are being broken?
So when we have any kind of climate related yield shock or any yield shock per se, uh then prices usually go up, so food will be more expensive. At the moment we have fairly high yield shocks, up to even twenty percent.
Professor Marco Springman spoke as it was announced that almost three quarters of England is now officially in drought.
Across the Atlantic, the United States has just recorded its hottest month since records began one hundred and thirty-two years ago. The average temperature across the continental United States reached twenty-four point nine degrees Celsius in July, narrowly beating the previous records set in nineteen thirty-six. Forecasters expect the extreme heat to persist in parts of the country. This month, with experts warning, more records could fall.
US President Donald Trump has made new demands for compensation from Iran, further dimming hopes of a quick deal. Writing on social media, Trump said that Tehran should pay for people killed or wounded by Iranian actions. The demands come after Iran reiterated its own calls for reparations from the US and Israel, tying the issue directly to reopening the Strait of Hormuz. Over the weekend, Trump had signalled that he was prepared to let economic stress build on Iran. Rather than launch fresh military strikes. Jennifer Welch is Chief Geoeconomics Analyst for Bloomberg Economics.
The administration's trying to take attention off of the war that is not going the way that they want it to, and they're running out of good options. And in particular, the president's talking about now just letting economic pressure do the work for it.
What new compensation demands is Donald Trump making on Iran and how could they affect diplomatic talks?
Well, we've had a blockade in place for months, we've had sanctions on Iran for forty six years. Those haven't forced Tehran to capitulate.
That's Jennifer Welch from Bloomberg Economics. The renewed tensions helped push Brent crude up five percent yesterday, with the benchmark now holding near eighty eight dollars a barrel.
Reports are of emer are emerging of an extraordinary operation to protect President Trump from an Iranian assassination threat last month. The Washington Post says Trump's older Air Force One jet was used as a decoy while he secretly flew from Turkey to Britain on a smaller military aircraft. Bloomberg's Chris Pitt has the details.
Trump had arrived at the NATO summit in Ankara aboard his new Qatari gifted Air Force One. The plane was then sent ahead to Britain for a transatlantic journey home, while Trump was filmed boarding the older Air Force One in Turkey. At the time, Trump denied the change was about security, saying it was simply to show the newer jet to US service members in the UK. The New York Times later Reported that a credible Iranian threat had prompted the Secret Service to recommend a change of aircraft. But the Washington Post now says the security operation went much further with another secret switch.
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Chapters
7 chapters
1
Why is Europe experiencing its fifth severe heat wave and what are the impacts on rivers and agriculture?
0:00–1:14
2
How is the extreme July heat affecting the United States and what records are being broken?
1:14–2:47
3
What new compensation demands is Donald Trump making on Iran and how could they affect diplomatic talks?
2:47–4:13
4
Why did Trump switch aircraft during his NATO trip and what secret security measures were involved?
4:13–5:53
5
How is NVIDIA securing $500 billion in financing for AI infrastructure and why does it matter to investors?
5:53–6:49
6
What plans does UK Prime Minister Andy Burnham have for vaping and gambling shops on high streets?
6:49–7:57
7
What are today’s market headlines for the S&P 600, FTSE 100 and other major indices?
7:57–8:03
Speakers
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