Politics News

The Islamic Republic has defied the US president by picking a hardliner as the new supreme leader.

Italy’s push to shake off fiscal scrutiny by the European Union is in danger of being jolted by an extended Middle East crisis, Scope Ratings said.

Hundreds of farmers and industrial workers gathered in India’s capital on Monday, asking the government to stop what they called concessions to the US in trade talks and to pass a law guaranteeing minimum crop prices.

Pakistan’s government plans to implement fuel-saving measures after oil surged above $100 and gas output from the Middle East was disrupted, triggering panic buying in the import-reliant South Asian nation.

Slovenia’s center-left party of Prime Minister Robert Golob all but closed the gap behind the country’s nationalist opposition, a new poll showed with just two weeks before a tight parliamentary election.

Nigel Farage invested in the Bitcoin treasury firm Stack BTC Plc run by former Chancellor of the Exchequer Kwasi Kwarteng, the latest push by the poll-topping Reform UK leader in support of cryptoassets.

China warned Japan of consequences after it allowed a rare visit by Taiwan’s No. 3 official, accusing Tokyo of fanning “provocations” as tensions between the top Asian economies continue to simmer.

Norway’s police are investigating whether a video posted on a social media site of the US Embassy in Oslo is linked to the weekend’s explosion outside the building.

Italy’s Prime Minister Giorgia Meloni plans to fast-track a new law decree to tackle the spike in energy prices resulting from the war in the Middle East, Italian media including La Stampa report.

US military transport planes have flown out of South Korea in recent days, flight-tracking data showed, after Seoul confirmed it was discussing the possible redeployment of American military assets as the Iran conflict escalates.

US President Donald Trump is weighing the option of deploying special forces on the ground in Iran to seize the Islamic Republic's near-bomb-grade uranium, according to three diplomatic officials briefed on the matter. Uncertainty over Iran’s highly enriched uranium has intensified because it’s almost nine months since United Nations atomic inspectors last verified its location, the officials said. Bloomberg Economics Defense Lead Becca Wasser breaks down the situation. (Source: Bloomberg)

Asia’s governments will have to stretch their budgets or risk unleashing an inflation shock as the deepening conflict in the Middle East pushes oil prices past $100 a barrel.

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. On today's show, oil spiked toward $120 a barrel as more major Middle East producers curbed production, the Strait of Hormuz remained all but closed and the US threatened to deepen a conflict that has upended energy markets. Mojtaba Khamenei, the son of the late Ayatollah Ali Khamenei, has been named as the new supreme leader of Iran. And German Chancellor Friedrich Merz suffered a setback when his conservatives lost a regional election to the Greens, a stinging blow for the unpopular German leader compounded by a jump in support for the far right. Today's guests: Richard Tice, Reform UK Party, Deputy Leader; Laura James, Oxford Analytica, Senior Middle East Analyst. (Source: Bloomberg)

Angelina Valavina, EMEA corporates, natural resources and commodities head at Fitch Ratings, discusses the impact of the war in Iran on oil markets. Speaking on Bloomberg Television, she says prices will moderate once the transit though the Strait of Hormuz restarts. She also comments on reports that Group of Seven finance ministers are set to discuss a possible joint release of oil reserves on Monday. "It is significant in the sense that it can cool down the oil prices," Valavina says. (Source: Bloomberg)

Indian officials pledged to protect consumers as the Iran conflict pushed oil prices above $100 and disrupted supplies, raising significant risks for the energy-importing economy.

Oil prices rose to above $100 a barrel as the conflict in the Middle East continues. Brent spiked as much as 29% to $119.50 a barrel. Prices pared gains after the Financial Times reported that Group of Seven finance ministers will discuss a possible joint release of oil from reserves co-ordinated with the International Energy Agency on Monday. Bloomberg’s Stephen Stapczynski breaks down the situation.

Iran chose Mojtaba Khamenei, the hardline son of the assassinated Ayatollah Ali Khamenei, as its new supreme leader, signaling Tehran won’t back down in a war now raging across the Middle East and causing turmoil in energy markets.

The Group of Seven finance ministers are set to discuss a possible joint release of oil reserves on Monday, according to people familiar with the matter, as the Middle East war chokes flows from the region and sends prices soaring.

Thai Prime Minister Anutin Charnvirakul, whose party won last month’s election, has finalized his new coalition to form a government that will steer the nation’s $577 billion economy after decades of economic stagnation.

Iran named Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, as its new supreme leader. This comes amid escalating war and a surge in oil prices. (Source: Bloomberg)