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Bloomberg Daybreak Europe: US-China Collision Course (Podcast)
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Russia's Afipsky oil refinery on fire after drone attack, two dead, governor says
Aug 25 - The Afipsky oil refinery in Russia's southern Krasnodar region was on fire following a drone attack, regional Governor Veniamin Kondratyev said on the Telegram messaging app on Tuesday. He added that two people were killed and two others were injured due to falling drone debris on the Afipsky railway station. Ukraine has been targeting Russia's oil refineries and other infrastructure, attempting to undermine Moscow's war efforts and reduce financial revenue.
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'Bully': Feud erupts between Trump and Ontario's Doug Ford over US-Canada trade war
Ford said Canada needed to "throw everything and the kitchen sink" at Trump. A war of words between the U.S. and Canada is heating up -- as is the trade war between the longtime allies -- with Ontario's outspoken premier Doug Ford telling President Donald Trump twice he can "kiss my a--." On Monday, Trump pledged to raise the tariff on cars, steel and other goods to 50% in January. That followed tariffs of 50% on other goods being levied on Saturday after talks over a potential trade deal fell apart.
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Canadians do not seek a trade war – but neither will we be bullied by Donald Trump | Jen Gerson
A fundamental rupture in the values that have united North America is not a problem that can be wished away: this is a warning to the western alliance The Canadians are exceedingly angry. I realise this can sometimes be difficult for foreigners to deduce, given our national struggle to express the full range of human emotion outside ice hockey riots. However, let me assure you that the prime minister Canadians saw take the stage on Saturday morning in the wake of the collapse in trade negotiations with the US was a Mark Carney practically vibrating with fury.
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The UK will help Ukraine make long-range missiles by sharing classified tech information
Burnham, who was in Kyiv for Ukraine's Independence Day, said defense firm MBDA will release details on U.K.-made parts for the SCALP missile to Ukraine to help the country assemble the weapons. (Image credit: Henry Nicholls)
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Shortage of engineers becomes a bottleneck for Ukraine’s defence tech
- Ukraine's defence tech industry faces a severe engineer shortage, limiting the ability to quickly respond to frontline innovation needs. - The labour gap is worsened by population decline, war impacts, and a lack of qualified candidates despite rapid workforce growth. - Companies train inexperienced workers and boost salaries, but specialised skills remain scarce, threatening long-term defence innovation and production scaling.
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Shortage of Engineers Becomes a Bottleneck for Ukraine’s Defense-Tech
The speed of innovation on the Ukrainian battlefield means frontline troops may need a new drone design within weeks — but the country’s defense industry faces a critical labor shortage that threatens to derail that pace.
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Why Bessent’s Iran D-Day Threat Hinges on His Willingness to Hit China
Treasury Secretary Scott Bessent’s threat to unleash an “economic D-Day” against Iran risks setting the US on a collision course with China, its main trading partner. Bloomberg's Jon Herskovitz breaks down the likelihood that the US will take aggressive actions against Beijing. (Source: Bloomberg)