Morning Briefing: Europe
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Good morning. France, Spain and Greece are weighing age restrictions on social media. Dior and Coinbase get hacked. And the latest Mission Impossible is greenlit for a China release. Listen to the day’s top stories.


France, Spain and Greece are pushing for mandatory age restrictions for users of social platforms including Facebook and X, according to a document seen by Bloomberg. Other regions have been cracking down on how children use social media—Australia passed a law requiring platforms to keep children under the age of 16 off their services, with New Zealand weighing a similar bill.

Ukraine latest: Attention has shifted to bids on Capitol Hill for fresh sanctions to bring Russia to the negotiating table. Secretary of State Marco Rubio played down expectations for the Russia-Ukraine talks set to take place in Istanbul today, saying the likelihood of progress was low without a meeting between Vladimir Putin and Donald Trump.

Hacks at Dior and Coinbase: Christian Dior was hit by a cyber attack, with hackers obtaining some of its customers’ data, but no financial information was leaked in the breach. And at Coinbase, data was compromised through bribing customer representatives.

Photographer: Jaimi Joy/Bloomberg

UK Prime Minister Keir Starmer’s plan to reset Britain’s relationship with the EU has been met with challenges, particularly on immigration and defense. An UK-EU summit on Monday will unveil a defense and security partnership, but the agreement will be limited due to both sides’ red lines. In case you missed it, read our story about how the UK has been mulling a new investor visa.

European stock exchanges might see a pickup in initial public offerings in the following weeks amid easing market volatility. At least five sizable companies are considering a first-time share sale on regional bourses ahead of the summer lull that usually starts around the middle of July, according to people familiar. Here’s a story about IPOs that were lured to the sidelines amid tariff chaos

Deep Dive: Bearish Wagers 

Michael Burry Photographer: Dimitrios Kambouris/Getty Images

Investors turned more cautious ahead of Trump’s trade war, 13F filings show. A fund of Michael Burry’s (portrayed by Christian Bale in the 2015 film The Big Short) liquidated most of its listed equity portfolio in the first quarter and bought put options on Nvidia and China-related stocks.

  • Warren Buffett’s Berkshire Hathaway made no major purchases and instead sold off holdings in financial stocks last quarter, while David Tepper’s Appaloosa Management cut exposure to China-related assets.

The Big Take

Microsoft’s CEO on How AI Will Remake Every Company, Including His
Nervous customers and a volatile partnership with OpenAI are complicating things for Satya Nadella and the world’s most valuable company.

Listen to the Big Take Podcast

Opinion

The Saudis’ bet on AI plumbing needs more plumbers, Parmy Olson writes. Huge plans to become an AI infrastructure hub may fizzle without enough software innovation and talent.

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Javier Blas
Ice Cream Inflation Arrives Just in Time for Summer
Chris Hughes
The Embarrassing Transatlantic Divide in Real Estate Stocks
Catherine Thorbecke
China Tech Earnings Expose AI Growing Pains

Before You Go

Tom Cruise at the Mission:Impossible-The Final Reckoning global premiere in London. Photographer: Joe Maher/Getty Images

Paramount’s Mission: Impossible—The Final Reckoning won China’s consent for release on May 30, according to people familiar. The decision follows the approval in recent weeks for other Hollywood pictures to play in Chinese theaters, including  Disney’s live-action remake of Lilo & Stitch and Comcast’s How to Train Your Dragon.

Virgin Galactic said that it plans to charge more for its space tourism flights when it resumes sales in the first quarter of 2026. It didn’t say how much the tickets will cost, but the company founded by Richard Branson had been selling tickets for suborbital joyrides on its forthcoming Delta spacecraft at about $600,000 a seat

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