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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins. On today's show, The dollar snaps two days of declines as bullish sentiment towards Asian currencies takes a breather. In China, services activity slips to a seven month low, stoking fears of a rapid economic slowdown. This while Beijing's trade flows increased at the end of April, indicating the damage from US tariffs has yet to manifest in actual shipments even though the trade war is widely expected to eventually slow the world’s second-largest economy. Meanwhile, Friedrich Merz pledges swift action to galvanize Europe's biggest economy as he takes over as German chancellor. And the UK's tax overhaul for wealthy foreigners will start costing more than it raises if one in four of those affected leaves the country - that's the warning from the Centre for Economics and Business Research. The government disputes the figures. Chapters: 00:00:00 - Daybreak: Europe 00:00:59 - Philips Lowers Margin Guidance Over US-China Trade Tensions 00:04:09 - China's Services PMI Weakest Level in 7 Months 00:04:43 - Chinese Trade Flow Resilient Despite US Tariffs 00:05:45 - China Reports Holiday Travel Surge 00:07:19 - Tariffs Dominate Milken Discussions 00:07:40 - Bessent Touts US as ‘Premier Destination’ for World Capital 00:09:48 - Trump-Carney Meeting Today 00:11:15 - Dollar Gains After Two-Day Drop 00:11:37 - Taiwan Dollar Stabilizes 00:15:56 - OpenAI Walks Back For-Profit Plan 00:18:30 - Palantir Earnings Fall Short Of Wall Street Hopes 00:22:59 - Trump Blocks Harvard From New Research Funding in Latest Blow 00:25:00 - Continental Sales Jump to Best First Quarter in Four Years 00:27:08 - Merz to Start as German Chancellor, Replacing Scholz 00:31:59 - Ford Pulls Outlook, Sees $1.5B Hit From Trump Tariffs 00:33:40 - Ferrari Earnings Preview 00:34:25 - Vestas Earnings 00:35:19 - Apollo CEO: Trump 'Not Wrong' On Tariffs 00:38:01 - Warning On UK Tax Plan For Rich 00:42:01 - Italy Said Unwilling To Ease BPM Terms -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: / bloombergtv Facebook: / bloombergtelevision Instagram: / bloombergtv Connect with Bloomberg Business on: X: / business Facebook: / bloombergbusiness Instagram: / bloombergbusiness TikTok: https://www.tiktok.com/@bloombergbusi... Reddit: / bloomberg LinkedIn: / bloomberg-news More from Bloomberg: Bloomberg Radio: / bloombergradio Bloomberg Surveillance: / bsurveillance Bloomberg Politics: / bpolitics Bloomberg Originals: / bbgoriginals Watch more on YouTube: Bloomberg Technology: / @bloombergtechnology Bloomberg Originals: / @business Bloomberg Quicktake: / @bloombergquicktake Bloomberg Espanol: / @bloomberg_espanol Bloomberg Podcasts: / @bloombergpodcasts