Bloomberg Daybreak: Europe Edition Reeves Divides £600bn, US-China Deal Reached, AI Lifeline for Publishers
Jun 11, 2025
Chancellor Rachel Reeves outlines a £113 billion UK spending plan to boost economic growth amid political challenges. A newfound US-China trade deal aims to ease tensions, benefiting both economies. Meanwhile, Donald Trump's tariffs remain intact, impacting global financial dynamics. Discussions highlight the euro's potential rise against the dollar due to US unpredictability. On the media front, academic publishers are exploring lucrative AI partnerships, sparking controversy over copyright and compensation issues among authors.
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UK Growth-Focused Spending Plan
- UK Chancellor Rachel Reeves plans extensive public spending focused on growth and infrastructure investment.
- The government aims for active intervention, contrasting prior policies of minimal state involvement.
US-China Preliminary Trade Deal
- US and China agreed on a preliminary trade framework to ease tensions and revive sensitive goods flow.
- Detailed implementation awaits presidential approvals from both sides.
ECB Warns Against Trade Bullying
- ECB President Christine Lagarde warns against coercive trade and protectionism as it risks global damage.
- European central bankers see the turmoil as an opportunity to promote the euro's international role.