Bloomberg Daybreak: US Edition

Listen for instant reaction and analysis of megacap tech earnings from Alphabet and Tesla.

Alphabet reported second-quarter cloud revenue that far surpassed Wall Street’s expectations and said the division’s backlog of contracted business ballooned to more than $500 billion, offering fresh evidence that the company’s massive AI investments are paying off.

Meanwhile, Tesla missed Wall Street’s profit expectations even after a strong quarter of auto sales, a setback for the electric-vehicle maker as it looks to build out new lines of business in robotics, autonomy and AI.

To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Keith Naughton, Bloomberg News Auto Reporter
Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US widened the scope of its airstrikes on Iran overnight, striking a military site near the north-western city of Tabriz. The Iranian government activated air defenses in Tehran and the US struck other areas, with Iran firing on US bases in Kuwait, Bahrain and Jordan. There are no negotiations between the US and Iran, with a spokesman for the Iranian ministry saying "our new message is that the enemy violated the memorandum and should implement it."
2) President Trump said generic drug manufacturers must move production to the US or face a 100% import duty from August 2028. The move aims at “reshoring” generic pharmaceutical production in the US, with companies that don’t build plants onshore facing levies that would then double, to 200%, in August 2029. The planned tariffs would raise costs for manufacturers, risking higher prices and potential shortages for generic treatments that account for more than 90% of US prescriptions.
3) New Jersey Governor Mikie Sherrill said about 6,600 people who identified themselves as noncitizens were registered to vote due to a software error in the state’s motor vehicle system. The applicants answered “no” when asked on a keypad whether they were US citizens while applying for driver’s licenses and identification cards, but the system registered them anyway. A preliminary analysis found that fewer than 400 of the people who were registered cast ballots, and they were registered as Democrats, Republicans and unaffiliated voters, and were spread across the state.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran exchanged strikes for a 10th consecutive day as mediators sought to revive a truce, with the US targeting military command centers and Iran attacking US military sites in Kuwait and Jordan. The Houthi militant group in Yemen threatened shipping in the Red Sea, and the Saudi-led coalition said it is taking steps to protect ships sailing in the area. Oil prices have surged and US retail gasoline prices have climbed back over $4 a gallon, potentially hurting Trump and his Republican Party before midterm elections.
2) The Trump administration vowed to impose a fresh 50% tariff on some Canadian goods over what it said was unfair treatment of American alcohol, cars and dairy. The items subject to the new tariff include milk, hockey equipment, beer and plywood — but not major resource imports such as energy, potash and critical minerals. The tariffs are being applied under Section 338 of the 1930 Tariff Act, which gives the president the power to impose duties of as much as 50% on countries deemed to discriminate against US commerce.
3) President Trump said he had a “very good conversation” with new UK Prime Minister Andy Burnham and that they would be meeting in the “not too distant future." Trump and Burnham discussed many subjects, including the outstanding relationship between the US and the UK, North Sea oil, trade, and demining the Strait of Hormuz. Burnham's office said the prime minister congratulated Trump on the World Cup tournament and invited the president to visit Manchester in one of his first calls as UK leader.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US conducted a ninth straight day of airstrikes on Iran, targeting military targets and communications networks. Iran continued to attack US bases in several countries, and the standoff shows no sign of easing, with Iran refusing to relent over the Strait of Hormuz. The US-Iran interim peace deal has all but collapsed, and talks over Tehran's nuclear program and a permanent cessation of hostilities have stalled.
2) Andy Burnham is set to become the UK's prime minister with numerous outstanding questions about his cabinet and policy direction. Burnham will pledge to deliver improvements in people's lives and set out his domestic priorities, concluding with a "message of optimism" about Britain's future. The incoming leader will inherit a range of challenging issues, including immigration, welfare, productivity, and social care, as well as navigating global relationships, including with US President Donald Trump.
3) Spain won its second World Cup title, defeating Lionel Messi’s Argentina 1-0 in extra time. The World Cup has been a commercial success, with FIFA increasing its four-year revenue expectations by about $2 billion and more than 15 million people attending stadiums and fan festival areas. The tournament was marred by controversy, including President Donald Trump's intervention on behalf of a suspended American player, which led to criticism of FIFA's obsession with money and power.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to new home sales data with a focus on three stocks for the week ahead.
In the UK – a look ahead to the UK preparing to usher in its 7th Prime Minister in 10 years.
In Asia – a look ahead to Japan Marine Day.
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