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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Amy Morris. President Trump is shrinking the Environmental Protection Agency more quickly and aggressively than before, culminating in this week's move to rescind the crucial endangerment finding.
This determination had no basis, in fact, had none whatsoever. And it had no basis in law.
This marks the reversal of a key scientific determination that greenhouse gases are harmful. Former EPA officials warn the changes are boosting pollution and could exacerbate health conditions like asthma, cardiovascular disease, and neurological development issues. The president has agreed to end sweeping federal immigration operations in Minnesota. White House Border Czar Tom Homan.
As a result of this surge operation, we have greatly reduced the number of targets for enforcement action. And many criminal aliens have been arrested and taken off the streets, including murders, sex offenders, national security threats, gang members and other violent criminals.
The decision marks a major step to de-escalate an operation that sparked protests and congressional scrutiny over the Trump administration's tactics, including the killings of two U.S. citizens.
Republican Senator Shelley Moore Capito is doubtful that DHS funding is likely to pass ahead of the deadline and that Representative Rosa DeLauro's proposal to pull out ICE from that proposal will only make things more polarized and more political.
It looks fairly inevitable that we will have a partial shutdown of the Department of Homeland Security. I think it's good to frame that, remember, we did pass a lot of bills and the president signed into law, so 96% of the government is fully functioning. But that critical piece of homeland security in all likelihood will shut down.
Republican Senator Shelley Moore Capito on Bloomberg balance of power. Venezuela plans to grant more oil production land to Chevron and Spain's Repsol as the Trump administration pushes for private companies to rebuild that nation's energy sector. Energy Secretary Chris Wright touts the partnership between the U.S. and Venezuela.
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Chapter 2: What recent changes have occurred in the Environmental Protection Agency?
The Trump administration is expected to issue a general license to allow international oil companies to explore and produce in Venezuela without violating U.S. sanctions. A federal judge in Washington has ruled Defense Secretary Pete Hegseth cannot penalize Senator Mark Kelly over a video in which Kelly told service members they can refuse illegal orders.
The judge blocked the Pentagon from pursuing disciplinary action against Kelly, saying that cutting his retirement benefits was likely unconstitutional and that it trampled on Kelly's First Amendment freedoms. The White House is trying to ramp up pressure on JPMorgan Chase CEO Jamie Dimon to cap credit card interest rates. White House Trade Advisor Peter Navarro.
Jamie Dimon, lower your frigging credit card interest rates. You are a criminal the way you charge the American people at $22.25. Trump's push for a year-long 10% limit on interest rates has drawn pushback from some of the largest banks and card issuers.
Diamond last month said the move would spark an economic disaster for the U.S. Navarro also said... The North American trade pact has significant flaws, but sidestepped questions about whether the U.S. would leave the USMCA deal, which is up for review July 1st. Republican Representative French Hill of Arkansas thinks the U.S. needs to renew that commitment to USMCA.
President Trump is responsible for dramatically improving the North American Free Trade Agreement from the 1992-1993 timeframe and creating USMCA in his first term, and it worked quite well. But there's more to be done. We live in an ever-changing economy with ever-changing priorities.
Representative Hill was on Bloomberg surveillance. A sell-off in tech companies dragged down stocks amid growing concerns about whether massive investments in artificial intelligence will materialize. We bring you the closing numbers each day here at Bloomberg.
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Chapter 3: How are former EPA officials responding to the latest rulings?
The S&P down 109 points. NASDAQ down 469 points. The Dow lost 669 points. The 10-year Treasury yield at 4.15% and the 2-year yield at 3.45%. Bitcoin now down 3.4%, around $65,000. Coinbase posted a $667 million loss, with revenue fallen 20%, showing the risks of a cooling crypto market. Shares of Coinbase are slightly higher now in the post-market.
DraftKings, the online betting company, issued a 2026 forecast for sales and profit, falling short of Wall Street estimates, sending that stock tumbling in extended trading. DraftKings shares now down 14% in the post market. And at the Winter Olympic Games in Italy, Team Italy now has 17 medals and Team Norway and Team USA have 14 medals apiece.
Chapter 4: What is the significance of the recent changes to immigration operations in Minnesota?
That's news when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth.
Visit business.gov.uk slash growth. 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.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
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Chapter 5: What are the implications of the Trump administration's immigration tactics?
And it fits into your morning.
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.