| |
| |
| Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union. We’re keen to hear your views on this newsletter. Please participate in our short survey. European Commission President Ursula von der Leyen is almost certain to survive a confidence vote at noon today in the European Parliament over her handling of Pfizer vaccine contracts during the Covid pandemic. Yet how much long-term harm the process does to her authority remains to be seen. She’ll be hoping that it puts an end to the controversy as she tries to land a trade deal with US President Donald Trump and take a firmer stance on China. But she still has to pursue other key pillars of her mandate that rely on parliamentary support, not least keeping the Green Deal on track and putting forward a budget next week to future-proof the EU. Hungary’s Prime Minister Viktor Orban will be among those waiting to pounce on any future slip-ups after he told von der Leyen yesterday it was “time to go.” — John Ainger | |
| |
| Climate Curveball | Europe’s climate ministers will gather in the Danish city of Aalborg today for the first debate on the Commission’s proposal to cut emissions by 90% by 2040. Expect some tension and confusion, especially after the far-right took control of talks in parliament this week. Flight Path | German Chancellor Friedrich Merz and French President Emmanuel Macron will seek to quell a growing Franco-German squabble over the countries’ next-generation fighter jet when they meet for high-profile consultations in Berlin later this month. Here’s what’s at stake. Arming Up | Countries facing a resurgent threat from Russia are set to spend hundreds of billions on military gear — and they’re turning to part-timers, conscripts and reserves to rebuild their armies. We introduce you to some of the amateur soldiers stepping up to defend Europe. Talking Tariffs | As Trump’s Aug. 1 tariff deadline looms, John Clarke, former EU trade negotiator and former director for international Affairs at the Commission, joined Bloomberg Radio to discuss the prospect of a trade deal. | |
| |
| Rally Raid | French police raided the headquarters of the far-right National Rally in an investigation into suspicions of unlawful funding of its latest presidential campaign. The party’s head immediately branded the move as “harassment,” but it comes after a series of other scandals. Graft Fallout | Spanish Prime Minister Pedro Sanchez announced a barrage of anti-corruption mechanisms as he seeks to overcome a graft scandal. He said he considered resigning, but will stay as he didn’t do anything wrong. Here’s what he put forward. Grok Shock | Poland’s government wants the EU to investigate and possibly fine Elon Musk’s xAI following abusive and lewd comments made by its artificial intelligence chatbot Grok about the country’s politicians. It compounds problems for the tool, which launched into an antisemitic tirade Tuesday and invoked Adolf Hitler. Money Talks | The UAE is set to exit the EU’s “black list” of countries with deficient controls over illicit money flows, after the bloc’s lawmakers approved a revision to the ledger. Here’s a rundown of the others that are set to be dropped from the list, including Gibraltar. | |
| |
| Nvidia became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market. The stock has risen more than 20% in 2025, and is up more than 1,000% since the beginning of 2023. Nvidia now accounts for 7.5% of the S&P 500 Index, near its highest influence on record. The latest catalyst for the stock has been a commitment to AI spending from Nvidia’s biggest customers, showing that demand for its computing systems remains strong. Apple was the first to break the $3 trillion barrier in early 2022. | |
| |
| All times CET - 8 a.m. Informal meeting of EU environment ministers in Denmark
- 8:45 a.m. Von der Leyen gives keynote speech at Cofindustria event in Rome
- 10:30 a.m. Ukraine Recovery Conference begins in Rome. Von der Leyen, EU Commissioners Andrius Kubilius and Valdis Dombrovskis, Council President Antonio Costa and Ukraine’s Volodymyr Zelenskiy set to attend.
| |
| |
| |
| You received this message because you are subscribed to Bloomberg's Brussels Edition newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. | | |
