December 3, 2025 • 16 mins
Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) The Kremlin said Vladimir Putin held “very useful” talks with US envoys Steve Witkoff and Jared Kushner though the sides failed to reach agreement on a plan to end Russia’s war in Ukraine.
(2) The European Union has reached a deal to phase out Russian gas faster than originally planned, a move that aims to finally sever ties between the bloc and its once-primary energy supplier.
(3) French President Emmanuel Macron is preparing for talks with President Xi Jinping as part of a three-day visit to China in the wake of its dispute with Japan over Taiwan's status.
(4) London listings will make a comeback starting next year, aided by a recently unveiled stamp duty holiday, as a top banker at Goldman Sachs says the City must stay competitive compared to its rivals.
(5) OpenAI's CEO Sam Altman is redirecting internal resources to speed up improvements to ChatGPT, declaring a “code red” situation that will delay work on other initiatives.
Podcast Conversation: Is AI Burnishing the Beatles Legacy or Ruining It?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
This is the Bloomberg DAYBAQ podcast. Good morning, It's Wednesday,
the third of December. I'm Caroline Hepga in London.
Speaker 1 (00:15):
And I'm Stephen Caroline Brussels. Coming up today. The Kremlin
makes positive noises following Russia US talks, but stops short
of backing a peace plan for Ukraine.
Speaker 2 (00:25):
Open AI CEO Sam Altman declares a code read as
the firm scrambles to improve chat GPT with rivals snapping
at its heels, plus.
Speaker 1 (00:36):
A truck's worth every second. Why global plastic pollution is
forecast to hit two hundred and eighty million tons a
year by twenty forty.
Speaker 2 (00:45):
Let's start with a roundup of our top stories.
Speaker 1 (00:48):
Talks between Russian President Vladimir Putin and US Envoy Steve
Whitcoff on a plan to end Russia's war in Ukraine
concluded after nearly five hours without a deal. According to
the Kremlin, Putin held very useful talks, but a compromise
hasn't been reached yet on the critical issue of territorial control.
The former US Ambassador to Ukraine, Steve Pifer, says the
(01:10):
Russians and Ukrainians remain far apart, and he believes Putin
is using the talks to drive a wedge between the
United States and Europe.
Speaker 3 (01:18):
What the Krewmen hopes is that they can somehow continue
to string President Trump along and get him to sort
of back away and not continue the kind of support
that Ukraine has received from the West over the past
three and a half years, whereas Europe has made clear
that it is prepared to continue that support.
Speaker 1 (01:33):
Steve Pifer, and now a senior fellow at the Brookings Institution,
was speaking after Vladimir Putin earlier accused European leaders of
sabotaging peace efforts with unacceptable changes to proposals originally drawn
up between the US and Russia.
Speaker 2 (01:48):
The European Union has reached a deal to phase out
Russian gas a year earlier than originally planned. Negotiators representing
members States, the European Parliament, and the European Commission agreed
a deal in the early hours of this morning to
gradually prohibit liquified natural gas imports from Moscow by the
(02:08):
end of twenty twenty six. That's in addition to a
plan to end pipeline gas imports by September twenty twenty seven.
It means the BLOCK can finally end its energy reliance
on Moscow as it looks to the US and the
Middle East as alternative suppliers of.
Speaker 1 (02:25):
NG Francis President Emmanuel macrom is preparing for togs with
the President cheating paying as part of a three day
visit to China. Beijing wants support from France, a fellow
member of the UN Security Council, in its dispute with
Japan over Taiwan status. Wombrooks freddie Fulston has more.
Speaker 4 (02:42):
President Xi is looking to court Macron as part of
a diplomatic effort to isolate Japan's new Prime Minister, Senai Takeichi.
Macron's priority is to address global trade tensions and press
she to use his influence on Putin to end the
war in Ukraine. Kirs Starmer's team will be watching closely
(03:03):
as the UK Prime Minister prepares for a visit next month.
It comes as China condemned the UK's decision to once
again delay plans for a Chinese super embassy in London,
an ongoing saga in Westminster in London.
Speaker 1 (03:18):
Freddie Fulston Bloomberg Radio.
Speaker 2 (03:21):
Now a tax holiday on newly listed UK shares is
set to spark a revival of London's IPO market. So
that's according to a top banker who says that plans
to exempt stocks of freshly public London companies from a
zero point five percent stamp duty for three years has
resonated well. Anthony Goodman, co CEO at Goldman Sachs International,
(03:45):
speaking at the Financial Times its Global Banking Summit, so
the move will create a more level playing field than
other markets.
Speaker 1 (03:54):
Open A CEO Sam Altman has declared a code red
situation has more rivals to chachipt emerge. Bloomberg understands the
tech boss sent an internal memo calling for employees to
put in a surge to improve the AI chatbot and
delay work on other initiatives like AI agents and advertising.
(04:14):
Bloomberg Tech Europe anker Tomackenzie says the issue comes down
to financing and.
Speaker 5 (04:18):
It does speak to that funding story, the need to
have those deals, the need to raise capital, have that
liquidity and raise debt as well. For open AI, which
does not have the balance sheet of course of the
likes of Alphabet and needs that liquidity and that funding
to spend not just on the infrastructure, but to the
ensure that there is adoption of their products, and particularly GPT.
Speaker 1 (04:37):
Tom McKenzie speaking there, Will Altman didn't directly address his
reasons for encouraging the push, Sources tell Bloomberg he recently
warned workers at Google's AI resurgence could cause temporary headwinds
for the firm. OpenAI declined to comment on the reports
of the memo.
Speaker 2 (04:54):
And those are our top stories for you this morning.
Looking at the markets US and your opin stop futures,
little brighter Eurostox Swifty futures up by a quarter of
one percent. There's been a better session in Asia to
the costb Index up by one point one percent. Gains
for the nick A actually declines though in China, so
those are the outlying markets. Bitcoin has rebounded to a
(05:17):
closely watched story, up by two point four percent. We
trade now above ninety three thousand dollars present. Trump says
he will announce his selection to lead the Federal Reserve
in early twenty twenty six, usually important for the bond markets.
Tenure US yields this morning trading down a basis point
at four spots zero seven, and the dollar has weakened
(05:37):
this morning. So Bloomberg Dollar Spot index currently down a
tenth of one percent. You've got the greenback weakening against
all major currency pairs. So those are the markets at
a moment.
Speaker 1 (05:48):
We'll bring you more on those Kremlin talks over Ukraine
and whether their reason for optimism are caution, plus why
global plastic demand is set to keep surging. We've also
Caroline in working our very human eyes over the writing
by our colleagues on AI this morning. Plenty to read
across Bloomberg on this subject as always, but a couple
of stories that have stood out for us. One in particular,
(06:10):
our opinion columnist Dave Lee has been tackling some of
the Internet outrage over the re released Beatles anthology documentary,
which AI was used to restore and enhance old footage
of the band. Sounds like a great idea, except people
put spot at things like John Allen's guitar and one
performance appeared to have about ten strings at Paul McCartney's
(06:31):
face didn't look quite right. One fan on Radit remarking
that he looked like a shrunken head. This is look,
we're kind of back into the territory of how good
is this technology? Really, and Dave kind of digs into
the idea of because there's been resistance, of course about
from Paul McCartney, in particular to some of the UK
rules around copywriting and AI, although he has supported the
(06:54):
use of the technology to for example, support the Now
and Then song three as well. Yeah, the kind of
fine line between what's good and rice when it comes
to applying AI to creative products like music or a film,
And then when does it get just a bit weird
and too much?
Speaker 2 (07:14):
Can I say something? I just think this is like
bad plastic surgery, isn't it for AI? If it's wrong,
it looks really freakish. But actually the world has largely
kind of accepted moderate tweaks. Maybe, But does it fundamentally
alter I mean plastic surgery for age and beauty, but
AI for history, for your cultural icons? Does it all
(07:39):
to something fundamental? I don't know. I feel very curmudgeonly
saying that I do. Even I dislike just remastering of
old records in Maria Callas and so on, so you know,
I'm a purist.
Speaker 1 (07:52):
I think Colin firmly in the letter B Camp clearly
on this front. You can read Davely's a piece at
Bloomberg dot com for its lash opinion. We'll put a
link to it in our podcast show notes as well.
Speaker 2 (08:03):
Now, let's bring you more on the talks between the
US and Russia over Ukraine. The discussions were described in
polsitive terms by both sides, but it's unclear what progress
was made. Tony Halpin, who leads our team covering Russia's
economy and government, joins us now for more on this. Tony, Hello,
what came out of this huge important meetings? Good morning.
Speaker 6 (08:25):
Well, there was a lot of positive rhetoric from the
Kremlin side, at least we haven't had a US read
out yet, but there wasn't a great deal of substance
on what the two sides might have agreed on on
where the disagreements remain unbridgable apart from the question of territory,
which the kreminin Foreign policy aid Ulshookov said they didn't
really reach any compromise on. And since that's such a
(08:48):
central issue about the amount of Ukrainian land that Ukraine
that Russia is trying to take and have recognized as
its own, it suggests there's still plenty of work left
to do.
Speaker 1 (08:59):
So what happens next. Then does a meeting between Trump
and Putin look likely? At this stage?
Speaker 6 (09:04):
Eurosha was pretty cautious about that. Actually, he said it
would depend on the progress that was being made. And
previously President Trump has said that he's not really interested
in meeting with Putin and Zelenskin less a deal is
on the table. It doesn't seem that a deal is
on the table currently. We're waiting still to see what
(09:24):
Steve Wikkopp and Jared Kushner report back to President Trump
and what President Trump has to say about The meeting
was a fairly lengthy one five hours, But so far,
at least, nobody's talking about any kind of renewed summit
between Putin and Trump.
Speaker 2 (09:38):
So where is Ukraine in this Ukrainian president saying that
he is ready to receive all signals from the talks.
How much, say, does Ukraine have in these conversations.
Speaker 6 (09:50):
Yes, it's a trick. I mean, let's not forget Ukraine
is the victim in this war, right, They're the ones
that were invaded by Russia. It's their sovereign territory that
US and Russian negotia we're discussing yesterday in carving up
that's made it very difficult for Ukrainian President Voladimir Zelensky.
Ukrainian negotiators were in Florida at the weekend talking to
(10:11):
the US. The US was trying to shape the peace
plan ahead of the meeting with Putin yesterday. But Zelenski's
leverage is pretty limited with the US, and he's very
reliant on European support really to kind of back up
the positions that he's taking and his efforts really to
restrict the amount of Russian demands that have been made
(10:33):
upon him.
Speaker 1 (10:34):
And there was some saber rattling from Vladimir Putin as
well going into these talks, these comments that reported that
he wasn't planning to go to war with Europe, but
if Europe suddenly wants to go to war and starts
when we are ready right now is what he's reported
and said, how should we be reading those comments in
the context of the talks that were about to happen
at that stage.
Speaker 6 (10:54):
Yeah, So I think at some levels this is basically
just high level trolling by Poutin. I mean, his whole
stackergy at the moment is to basically restrict discussions about
the outcome in Ukraine. To Russia and the US and
to sideline Europe and to cast it as not serious.
So he wants to show really that you know, if
Europe saber rattling about war with Russia, he doesn't regard
(11:15):
that as serious because, let's face it, Russia is one
of the world's biggest nuclear powers. And as he said,
you know, there wouldn't be anybody to talk to if
war really did escalate between Russia and Europe. And so
this is part, I think of his strategy to say
that the future of Ukraine is a matter between him
and Trump and Europe should just butt out.
Speaker 7 (11:32):
Really.
Speaker 2 (11:33):
Yeah, well, let's see what emerges then. On the US side,
we did here from Marco Rubio an interview with Fox News,
saying that trying to end the war in a way
that protects Ukraine is the US goal. So we've had
that so far. Tony, thank you so much for being
with us. Tony Halpin leads our team covering Russia's economy
and government, talking about those talks on Ukraine. Stay with us.
(11:57):
More from Bloomberg DAYBAKEUOPE coming up after this.
Speaker 1 (12:01):
The global production of new plastic is set to increase
by fifty two percent by twenty forty overwhelming waste management systems.
That's the alarming finding from a new report from the
American ENGLPEW Charitable Trusts. Are Reporter Tea out of Bio
is with us for more on this story. Teama, what
does this research say about our use of plastic in
the future.
Speaker 7 (12:21):
Well, I've been pouring over this research and our great
piece about it on the terminal this morning, and in short,
from reading it, it seems like things are about to
get a lot worse unfortunately. I mean, we've known for
a while now that plastic isn't great for our bodies,
it's not great for the planet, but this report shows
that there's clear evidence that it's clogging beaches and oceans,
(12:43):
and also that microplastics are entering our bodies and harming
our health. And despite this, what is striking about these
findings is that we are still continuing to produce plastic
at accelerating rates. And because of that, one of the
key findings that has exposed in this report is that
global plastic pollution will hit two hundred and eighty million
(13:04):
metric tons per year by twenty forty. That's a dump
trucks worth of plastic every second. Global production of new
plastic is set to increase by fifty two percent. That's
twice as much as waste management systems are increasing to
deal with it, so it's quite a staggering amount. But
there are also some interesting insights here about the future,
(13:26):
especially when it comes to international cooperation. So the report
talks about how in August there were talks to forge
a sort of international treaty to kind of rain in
plastic pollution, but it was blocked by countries that produced
the majority of the material that would have been blocked
(13:46):
in those proposals. So it seems like the outlook here
is a pretty bleak all things considered.
Speaker 2 (13:52):
Yeah, sounds absolutely grim. The consequences of increasing plastic use
that the research also describe some of those sounds quite alarming. Yeah,
there are some pretty big consequences.
Speaker 7 (14:05):
And it's great that this report is it's kind of
a hybrid, so you can see data, current data from
recent research, but then it puts that into a model
which helps to predict outcomes under different policy scenarios, and
included in that are some of the worst case scenarios. So,
for example, they are about sixteen thousand chemicals in plastics
(14:25):
and out of those, scientists think that about a fourth
could be harmful to our health. There are also some
big environmental risks. So under the current trajectory, plastic related
greenhouse gas emissions are expected to surge by fifty eight
percent a year, and that means that if plastic production
were a country, it would be the third largest emitter
(14:47):
of gases like carbon dioxide in the world. But what
is interesting as well here is that Pew has done
some pretty detailed modeling about those consequences, and I think
for me, the most striking of those is that the
authors estimate that the world's population would lose five point
six million total years of healthy life in twenty twenty five,
(15:11):
and that's nine point eight million years in twenty forty.
So I mean, I suppose the biggest impact or the
biggest consequence that comes out of this is that impact
on or the shortening of human life that could come
out of this plastic production.
Speaker 1 (15:26):
And what solutions to the researchers from QARFO, well, actually.
Speaker 7 (15:30):
They don't think it's some sort of innovative new solution
or invention. They actually say that countries and communities already
possessed the tools to reduce the manufacture and the use
of plastic quite greatly. They are suggesting things like better
productions and packaging design, and also investing in the infrastructure
(15:53):
to support recycling so that we don't always have to
produce new plastic products. There's also policy solutions, so ending
subsidies for plastic production and also expanding waste collection. But
coming back to that gloom we talked about in the
original forecast, they do can see that microplastics will be
harder to control.
Speaker 1 (16:14):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Street and beyond.
Speaker 2 (16:21):
Look for us on your podcast feed every morning, on Apple,
Spotify and anywhere else you get your podcasts.
Speaker 1 (16:27):
You can also listen live each morning on London Dab Radio,
the Bloomberg Business app, and Bloomberg dot Com.
Speaker 2 (16:33):
Our flagship New York station is also available on your
Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty.
I'm Caroline Hipka and.
Speaker 1 (16:42):
I'm Stephen Carroll. Join us again tomorrow morning for all
the news you need to start your day right here
on Bloomberg Daybreak Europe.
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
This is the Bloomberg DAYBAQ podcast. Good morning, It's Wednesday,
the third of December. I'm Caroline Hepga in London.
Speaker 1 (00:15):
And I'm Stephen Caroline Brussels. Coming up today. The Kremlin
makes positive noises following Russia US talks, but stops short
of backing a peace plan for Ukraine.
Speaker 2 (00:25):
Open AI CEO Sam Altman declares a code read as
the firm scrambles to improve chat GPT with rivals snapping
at its heels, plus.
Speaker 1 (00:36):
A truck's worth every second. Why global plastic pollution is
forecast to hit two hundred and eighty million tons a
year by twenty forty.
Speaker 2 (00:45):
Let's start with a roundup of our top stories.
Speaker 1 (00:48):
Talks between Russian President Vladimir Putin and US Envoy Steve
Whitcoff on a plan to end Russia's war in Ukraine
concluded after nearly five hours without a deal. According to
the Kremlin, Putin held very useful talks, but a compromise
hasn't been reached yet on the critical issue of territorial control.
The former US Ambassador to Ukraine, Steve Pifer, says the
(01:10):
Russians and Ukrainians remain far apart, and he believes Putin
is using the talks to drive a wedge between the
United States and Europe.
Speaker 3 (01:18):
What the Krewmen hopes is that they can somehow continue
to string President Trump along and get him to sort
of back away and not continue the kind of support
that Ukraine has received from the West over the past
three and a half years, whereas Europe has made clear
that it is prepared to continue that support.
Speaker 1 (01:33):
Steve Pifer, and now a senior fellow at the Brookings Institution,
was speaking after Vladimir Putin earlier accused European leaders of
sabotaging peace efforts with unacceptable changes to proposals originally drawn
up between the US and Russia.
Speaker 2 (01:48):
The European Union has reached a deal to phase out
Russian gas a year earlier than originally planned. Negotiators representing
members States, the European Parliament, and the European Commission agreed
a deal in the early hours of this morning to
gradually prohibit liquified natural gas imports from Moscow by the
(02:08):
end of twenty twenty six. That's in addition to a
plan to end pipeline gas imports by September twenty twenty seven.
It means the BLOCK can finally end its energy reliance
on Moscow as it looks to the US and the
Middle East as alternative suppliers of.
Speaker 1 (02:25):
NG Francis President Emmanuel macrom is preparing for togs with
the President cheating paying as part of a three day
visit to China. Beijing wants support from France, a fellow
member of the UN Security Council, in its dispute with
Japan over Taiwan status. Wombrooks freddie Fulston has more.
Speaker 4 (02:42):
President Xi is looking to court Macron as part of
a diplomatic effort to isolate Japan's new Prime Minister, Senai Takeichi.
Macron's priority is to address global trade tensions and press
she to use his influence on Putin to end the
war in Ukraine. Kirs Starmer's team will be watching closely
(03:03):
as the UK Prime Minister prepares for a visit next month.
It comes as China condemned the UK's decision to once
again delay plans for a Chinese super embassy in London,
an ongoing saga in Westminster in London.
Speaker 1 (03:18):
Freddie Fulston Bloomberg Radio.
Speaker 2 (03:21):
Now a tax holiday on newly listed UK shares is
set to spark a revival of London's IPO market. So
that's according to a top banker who says that plans
to exempt stocks of freshly public London companies from a
zero point five percent stamp duty for three years has
resonated well. Anthony Goodman, co CEO at Goldman Sachs International,
(03:45):
speaking at the Financial Times its Global Banking Summit, so
the move will create a more level playing field than
other markets.
Speaker 1 (03:54):
Open A CEO Sam Altman has declared a code red
situation has more rivals to chachipt emerge. Bloomberg understands the
tech boss sent an internal memo calling for employees to
put in a surge to improve the AI chatbot and
delay work on other initiatives like AI agents and advertising.
(04:14):
Bloomberg Tech Europe anker Tomackenzie says the issue comes down
to financing and.
Speaker 5 (04:18):
It does speak to that funding story, the need to
have those deals, the need to raise capital, have that
liquidity and raise debt as well. For open AI, which
does not have the balance sheet of course of the
likes of Alphabet and needs that liquidity and that funding
to spend not just on the infrastructure, but to the
ensure that there is adoption of their products, and particularly GPT.
Speaker 1 (04:37):
Tom McKenzie speaking there, Will Altman didn't directly address his
reasons for encouraging the push, Sources tell Bloomberg he recently
warned workers at Google's AI resurgence could cause temporary headwinds
for the firm. OpenAI declined to comment on the reports
of the memo.
Speaker 2 (04:54):
And those are our top stories for you this morning.
Looking at the markets US and your opin stop futures,
little brighter Eurostox Swifty futures up by a quarter of
one percent. There's been a better session in Asia to
the costb Index up by one point one percent. Gains
for the nick A actually declines though in China, so
those are the outlying markets. Bitcoin has rebounded to a
(05:17):
closely watched story, up by two point four percent. We
trade now above ninety three thousand dollars present. Trump says
he will announce his selection to lead the Federal Reserve
in early twenty twenty six, usually important for the bond markets.
Tenure US yields this morning trading down a basis point
at four spots zero seven, and the dollar has weakened
(05:37):
this morning. So Bloomberg Dollar Spot index currently down a
tenth of one percent. You've got the greenback weakening against
all major currency pairs. So those are the markets at
a moment.
Speaker 1 (05:48):
We'll bring you more on those Kremlin talks over Ukraine
and whether their reason for optimism are caution, plus why
global plastic demand is set to keep surging. We've also
Caroline in working our very human eyes over the writing
by our colleagues on AI this morning. Plenty to read
across Bloomberg on this subject as always, but a couple
of stories that have stood out for us. One in particular,
(06:10):
our opinion columnist Dave Lee has been tackling some of
the Internet outrage over the re released Beatles anthology documentary,
which AI was used to restore and enhance old footage
of the band. Sounds like a great idea, except people
put spot at things like John Allen's guitar and one
performance appeared to have about ten strings at Paul McCartney's
(06:31):
face didn't look quite right. One fan on Radit remarking
that he looked like a shrunken head. This is look,
we're kind of back into the territory of how good
is this technology? Really, and Dave kind of digs into
the idea of because there's been resistance, of course about
from Paul McCartney, in particular to some of the UK
rules around copywriting and AI, although he has supported the
(06:54):
use of the technology to for example, support the Now
and Then song three as well. Yeah, the kind of
fine line between what's good and rice when it comes
to applying AI to creative products like music or a film,
And then when does it get just a bit weird
and too much?
Speaker 2 (07:14):
Can I say something? I just think this is like
bad plastic surgery, isn't it for AI? If it's wrong,
it looks really freakish. But actually the world has largely
kind of accepted moderate tweaks. Maybe, But does it fundamentally
alter I mean plastic surgery for age and beauty, but
AI for history, for your cultural icons? Does it all
(07:39):
to something fundamental? I don't know. I feel very curmudgeonly
saying that I do. Even I dislike just remastering of
old records in Maria Callas and so on, so you know,
I'm a purist.
Speaker 1 (07:52):
I think Colin firmly in the letter B Camp clearly
on this front. You can read Davely's a piece at
Bloomberg dot com for its lash opinion. We'll put a
link to it in our podcast show notes as well.
Speaker 2 (08:03):
Now, let's bring you more on the talks between the
US and Russia over Ukraine. The discussions were described in
polsitive terms by both sides, but it's unclear what progress
was made. Tony Halpin, who leads our team covering Russia's
economy and government, joins us now for more on this. Tony, Hello,
what came out of this huge important meetings? Good morning.
Speaker 6 (08:25):
Well, there was a lot of positive rhetoric from the
Kremlin side, at least we haven't had a US read
out yet, but there wasn't a great deal of substance
on what the two sides might have agreed on on
where the disagreements remain unbridgable apart from the question of territory,
which the kreminin Foreign policy aid Ulshookov said they didn't
really reach any compromise on. And since that's such a
(08:48):
central issue about the amount of Ukrainian land that Ukraine
that Russia is trying to take and have recognized as
its own, it suggests there's still plenty of work left
to do.
Speaker 1 (08:59):
So what happens next. Then does a meeting between Trump
and Putin look likely? At this stage?
Speaker 6 (09:04):
Eurosha was pretty cautious about that. Actually, he said it
would depend on the progress that was being made. And
previously President Trump has said that he's not really interested
in meeting with Putin and Zelenskin less a deal is
on the table. It doesn't seem that a deal is
on the table currently. We're waiting still to see what
(09:24):
Steve Wikkopp and Jared Kushner report back to President Trump
and what President Trump has to say about The meeting
was a fairly lengthy one five hours, But so far,
at least, nobody's talking about any kind of renewed summit
between Putin and Trump.
Speaker 2 (09:38):
So where is Ukraine in this Ukrainian president saying that
he is ready to receive all signals from the talks.
How much, say, does Ukraine have in these conversations.
Speaker 6 (09:50):
Yes, it's a trick. I mean, let's not forget Ukraine
is the victim in this war, right, They're the ones
that were invaded by Russia. It's their sovereign territory that
US and Russian negotia we're discussing yesterday in carving up
that's made it very difficult for Ukrainian President Voladimir Zelensky.
Ukrainian negotiators were in Florida at the weekend talking to
(10:11):
the US. The US was trying to shape the peace
plan ahead of the meeting with Putin yesterday. But Zelenski's
leverage is pretty limited with the US, and he's very
reliant on European support really to kind of back up
the positions that he's taking and his efforts really to
restrict the amount of Russian demands that have been made
(10:33):
upon him.
Speaker 1 (10:34):
And there was some saber rattling from Vladimir Putin as
well going into these talks, these comments that reported that
he wasn't planning to go to war with Europe, but
if Europe suddenly wants to go to war and starts
when we are ready right now is what he's reported
and said, how should we be reading those comments in
the context of the talks that were about to happen
at that stage.
Speaker 6 (10:54):
Yeah, So I think at some levels this is basically
just high level trolling by Poutin. I mean, his whole
stackergy at the moment is to basically restrict discussions about
the outcome in Ukraine. To Russia and the US and
to sideline Europe and to cast it as not serious.
So he wants to show really that you know, if
Europe saber rattling about war with Russia, he doesn't regard
(11:15):
that as serious because, let's face it, Russia is one
of the world's biggest nuclear powers. And as he said,
you know, there wouldn't be anybody to talk to if
war really did escalate between Russia and Europe. And so
this is part, I think of his strategy to say
that the future of Ukraine is a matter between him
and Trump and Europe should just butt out.
Speaker 7 (11:32):
Really.
Speaker 2 (11:33):
Yeah, well, let's see what emerges then. On the US side,
we did here from Marco Rubio an interview with Fox News,
saying that trying to end the war in a way
that protects Ukraine is the US goal. So we've had
that so far. Tony, thank you so much for being
with us. Tony Halpin leads our team covering Russia's economy
and government, talking about those talks on Ukraine. Stay with us.
(11:57):
More from Bloomberg DAYBAKEUOPE coming up after this.
Speaker 1 (12:01):
The global production of new plastic is set to increase
by fifty two percent by twenty forty overwhelming waste management systems.
That's the alarming finding from a new report from the
American ENGLPEW Charitable Trusts. Are Reporter Tea out of Bio
is with us for more on this story. Teama, what
does this research say about our use of plastic in
the future.
Speaker 7 (12:21):
Well, I've been pouring over this research and our great
piece about it on the terminal this morning, and in short,
from reading it, it seems like things are about to
get a lot worse unfortunately. I mean, we've known for
a while now that plastic isn't great for our bodies,
it's not great for the planet, but this report shows
that there's clear evidence that it's clogging beaches and oceans,
(12:43):
and also that microplastics are entering our bodies and harming
our health. And despite this, what is striking about these
findings is that we are still continuing to produce plastic
at accelerating rates. And because of that, one of the
key findings that has exposed in this report is that
global plastic pollution will hit two hundred and eighty million
(13:04):
metric tons per year by twenty forty. That's a dump
trucks worth of plastic every second. Global production of new
plastic is set to increase by fifty two percent. That's
twice as much as waste management systems are increasing to
deal with it, so it's quite a staggering amount. But
there are also some interesting insights here about the future,
(13:26):
especially when it comes to international cooperation. So the report
talks about how in August there were talks to forge
a sort of international treaty to kind of rain in
plastic pollution, but it was blocked by countries that produced
the majority of the material that would have been blocked
(13:46):
in those proposals. So it seems like the outlook here
is a pretty bleak all things considered.
Speaker 2 (13:52):
Yeah, sounds absolutely grim. The consequences of increasing plastic use
that the research also describe some of those sounds quite alarming. Yeah,
there are some pretty big consequences.
Speaker 7 (14:05):
And it's great that this report is it's kind of
a hybrid, so you can see data, current data from
recent research, but then it puts that into a model
which helps to predict outcomes under different policy scenarios, and
included in that are some of the worst case scenarios. So,
for example, they are about sixteen thousand chemicals in plastics
(14:25):
and out of those, scientists think that about a fourth
could be harmful to our health. There are also some
big environmental risks. So under the current trajectory, plastic related
greenhouse gas emissions are expected to surge by fifty eight
percent a year, and that means that if plastic production
were a country, it would be the third largest emitter
(14:47):
of gases like carbon dioxide in the world. But what
is interesting as well here is that Pew has done
some pretty detailed modeling about those consequences, and I think
for me, the most striking of those is that the
authors estimate that the world's population would lose five point
six million total years of healthy life in twenty twenty five,
(15:11):
and that's nine point eight million years in twenty forty.
So I mean, I suppose the biggest impact or the
biggest consequence that comes out of this is that impact
on or the shortening of human life that could come
out of this plastic production.
Speaker 1 (15:26):
And what solutions to the researchers from QARFO, well, actually.
Speaker 7 (15:30):
They don't think it's some sort of innovative new solution
or invention. They actually say that countries and communities already
possessed the tools to reduce the manufacture and the use
of plastic quite greatly. They are suggesting things like better
productions and packaging design, and also investing in the infrastructure
(15:53):
to support recycling so that we don't always have to
produce new plastic products. There's also policy solutions, so ending
subsidies for plastic production and also expanding waste collection. But
coming back to that gloom we talked about in the
original forecast, they do can see that microplastics will be
harder to control.
Speaker 1 (16:14):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Street and beyond.
Speaker 2 (16:21):
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Our flagship New York station is also available on your
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Speaker 1 (16:42):
I'm Stephen Carroll. Join us again tomorrow morning for all
the news you need to start your day right here
on Bloomberg Daybreak Europe.
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