摩根大通CEO警告英国勿加税，特朗普削减美韩军演，法国税务遭网络攻击

[music] Bloomberg Audio Studios, podcasts, radio, news. [music] This is the Bloomberg Daybreak Europe podcast. Good morning. It's Monday, the 17th of August. I'm Steven Carol in London.

And I'm Lizzie Burden. Coming up today, JP Morgan CEO Jamie Diamond said to have called the UK's Chancellor to warn against higher bank taxes as European lenders push for lighter regulation like their US peers. President Trump scales back military exercises with South Korea after Seoul refuses to support the US war with Iran.

Plus, a taxing breach. The French government calls a crisis meeting after hackers accessed close to 700,000 personal and business tax accounts.

Let's start with a roundup of our top stories.

JP Morgan CEO Jamie Diamond is reported to have personally called Britain's new chancellor, John Healey, to warn him against raising bank taxes. The Financial Times says the boss of America's biggest bank made the intervention last week. Bloomberg's James Wilco has more.

Diamond has long been a critic of specific bank taxes in Britain. Now he's taking that argument directly to the UK Chancellor. The FT says he warned Healey in a call that higher taxes often drive jobs away, pointing to a decline in finance jobs in New York that he partly blamed on the city's tax burden. Diamond's call comes after Andy Burnham's government declined to rule out increasing levies on lenders as bumper profits prompt speculation the new administration will target the city of London.

Speaking at Bloomberg's London office last month, Healey stressed his commitment to UK plc.

I'm just as concerned about the cost of business as I am about the cost of living tax, energy, supply chain costs, labor. Uh, I know the businesses large and small have felt really squeezed.

But Healey also needs to fund the government's spending pledges, leaving him balancing demands from labor, the bond markets, and now the boss of the world's biggest bank in London. James Wilco, Bloomberg Radio. Well, Donald Trump's Wall Street deregulation drive is changing the debate over banking rules in Europe. But as lenders push for similar relief in the EU, Bloomberg reporting reveals the watchd dogs are increasingly uneasy about the direction the US is taking.

Bloomberg's Freddy Fston reports. As financial reforms in America keep coming, European banks are pressing Brussels to ensure they're not left behind. And the European Commission is responding, delaying tougher trading rules and reconsidering limits on how far banks can use their own calculations to reduce capital buffers. But Bloomberg has spoken to senior European central bankers and watchd dogs who say the aggressive US approach is now making international regulatory meetings increasingly fraught.

Several expressed concern about what they see as American complacency around risks in banking, AI, and credit. One veteran policy maker told us that in almost two decades at the global regulatory table, he's never seen a bigger divide with the US over threats to financial stability. In London, Freddy Fston, Bloomberg Radio. President Trump has told the Pentagon to substantially reduce joint military exercises with longtime ally South Korea.

In a social media post, he hinted that the shift was driven by frustration that the country hadn't given more support to his war with Iran, saying South Korea had recently declined to join him in the denuclearization of the country. Our newses managing editor Jill Dis has the details.

He cited his relationship with Kim Jong-un of North Korea. He cited the costly measures. These military drills that were scheduled to take place today, they're actually still going forward. But, uh, you know, this is kind of a very abrupt message from from Trump here. Another thing that he kind of suggests in that post a little bit is this idea that maybe it's unrelated, maybe it's related. This concept of um, the South Korea maybe not being necessarily as participatory in Trump's war with Iran as he would like.

Our news desk managing editor Jill Dis there. Trump's announcement came as the US Naval Institute said that the single American aircraft carrier stationed in the Asia-Pacific region was being diverted to the Middle East. Well, oil producers in the Middle East are continuing to shuttle large volumes of crude out of the Persian Gulf, keeping global prices in check. Sources have told Bloomberg the incognito crossings through the straight of Hormuz are running at full tilt despite recent attacks on vessels.

Lickstan Merrtto explains how

what's happening is oil tankers are staying darker for longer. They're turning those transponders off and they're just disappearing off of the satellite maps. Then they'll show up 10 days later. And so there's this big gap in knowledge for traders uh and buyers and sellers on exactly how much is making it through. People have been estimating about 4 million barrels a day. You know, only a fifth of what had been going through before the war.

Dan Mr. there as US Treasury Secretary Scott Bessant says the United States is getting ready to squeeze Iran with unprecedented economic pressure. Critics greeted the announcement with skepticism given the country is already subject to thousands of sanctions and a naval blockade. France is scrambling to contain the fallout from a cyber attack on its tax collection agency. Close to 700,000 personal and business accounts were affected and the government is holding a crisis meeting today.

Bloomberg's Tiwa Adabio reports. Hackers gained access to sensitive tax information during an attack that took place across June and July. That included taxable income and tax withholding rates along with details about the addresses and sizes of properties. The government is beginning to notify those affected today as a judicial investigation gets underway. Prime Minister Sebastian Lolu is also bringing ministers together to review the response and strengthen cyber security. in London.

Tiwa Adabio, Bloomberg Radio.

Emergency services in Belgium are battling what's being called the largest wildfire in the country's history. About 2,700 hectares have burned and 600 residents have been evacuated. No homes have been damaged, but the blaze in the Otana Nature Reserve is now nearing the German border. The fire follows weeks of hot and dry weather that have already triggered major blazes across Europe. Alexander Held is a wildfire and forestry expert at the European Forest Institute.

We can build wildfire capability and capacity from a fire service perspective. But we also need the same efforts actually from communities, from policies, from agriculture, from forestry.

Alexander held there as meteorologists sworn record temperatures mean the wildfire season may now stretch well into the autumn. Those are your top stories this morning on the markets. The MSE Asia Pacific index is up 2/10en of a percent. Euro stocks 50 futures are up 3/10en of a percent and the 10-year Treasury yield is down a basis point at 4.67%. In a moment, we'll bring you more on the debate over bank regulations in Europe.

Plus, what Donald Trump pulling back on military exercises in Asia means for South Korea. But another story that caught our eye this morning as well on the importance of vision for CEOs but also for chefs. Our opinion columnist Harajuan has been writing about this in the context of the Paris chef Barthon Ku who died last month. He was best known for his restaurant Septim in the 11th Arandismo and the offshoots in the neighborhoods that had become quite famous as well.

Beyonce a notable customer of uh of Septim in the time that I was living in Paris. But when Howard visited the septine wine bar recently, the discussion was all about Grego's legacy. His co-founder and best friend is carrying on with the businesses. But Howard writes that for such enterprises, it is the guiding spirit of the founder that's paramount and this idea of vision being perhaps more importa