Heat Hits Power & Crops, Trump's New Iran Demands, More
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What extreme heat is doing to Europe’s rivers, crops and power grids?
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News when you want it with Bloomberg News Now. I'm Stephen Carroll. Intense heat is again sweeping across Europe, deepening drought and adding to pressure on rivers, crops, and power grids. Temperatures in northern France are forecast to approach 40 degrees Celsius today, while southern England could reach the mid-thirties. The Rhine River 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 Springman is a senior researcher at Oxford University covering climate change and food systems.
What is more concerning is the price of foods. 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.
How is the summer heat affecting British consumer behaviour and retail sales?
Professor Marco Springman spoke as it was announced that almost three quarters of England is now officially in drought. Another wave of intense heat is sweeping across Europe, worsening drought and putting further pressure on rivers, crops and power grids. A high pressure heat dome is forecast to drive temperatures in northern France to near forty degrees today, with highs in southern England expected to reach the mid thirties. Meanwhile, the River Rhine has fallen to record lows at a key shipping point, with water levels expected to drop to just four centimetres by Friday. Almost three-quarters of England is now officially in drought, with reservoir storage around 12% below its long-term average.
France is also anticipating its smallest corn harvest since 1980, with production expected to plunge by 35% this year. Across the Atlantic, the United States has just recorded its hottest month since records began 132 years ago. The average temperature across the continental US reached twenty-four point nine degrees Celsius in July, narrowly beating the previous record set in nineteen thirty six. Forecasters expect the extreme heat to persist in parts of the country this week, with exports warning that more records could fall this year. Yeah. British shoppers are staying at home to avoid soaring temperatures. That's according to new data which shows the hot weather has affected consumer behaviour. Bloomberg's Tea W Ada Bio has more.
The value of retail sales in July increased at just half the pace of last year. New research from the British Retail Consortium reveals the drop is linked to customers retreating during recent heat waves. The latest figures sparked caution after recent signs of recovery, driven by slower inflation, the World Cup, and good weather.
Why is President Trump demanding compensation from Iran and what are the geopolitical stakes?
Despite the slowdown, retailers reported strong demand for affordable clothing and small indulgences. Like beauty and fashion jewellery, but non food sales fell zero point seven percent, the first decline since April as shoppers postponed big ticket purchases. In London, Tua had a bio, Bloomberg Radio.
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 came 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 signals that he He was prepared to let economic stress on Iran build, rather than launch fresh military strikes. Jennifer Welch is chief geoeconomics analyst for Bloomberg Economics.
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Chapters
7 chapters
1
What extreme heat is doing to Europe’s rivers, crops and power grids?
0:00–1:24
2
How is the summer heat affecting British consumer behaviour and retail sales?
1:24–3:10
3
Why is President Trump demanding compensation from Iran and what are the geopolitical stakes?
3:10–4:27
4
What is the strategy behind Iran’s own reparations demands and the Strait of Hormuz?
4:27–6:07
5
How is NVIDIA securing $500 billion for AI infrastructure and why does it matter?
6:07–7:41
6
What new UK policies are targeting vaping and betting shops on the high street?
7:41–8:35
7
How are oil, gas and equity markets reacting to today’s heat‑related news?
8:35–9:21
Speakers
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