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Another wave of intense heat is sweeping across an already parched Europe this week, raising wildfire risks, threatening crops and drying watersheds feeding the region's critically low rivers. Europe's fifth major heat wave of the year is likely to block moisture-bearing clouds from helping refill rivers such as the Rhine, Po and Danube, where record low water levels have disrupted navigation and power production. Climate change is increasing the frequency and intensity of extreme heat on the world's fastest-warming continent, straining power grids, sapping water supplies and curbing farm output. Our Weather and Climate Reporter Joe Wertz joined Stephen Carroll and Tiwa Adebayo on Bloomberg Radio to discuss.

Tencent Music Entertainment Group (NYSE:TME) reported second-quarter 2026 revenue of RMB8.93 billion, up 5.8% year over year.

Smithfield Foods (NASDAQ:SFD) reported fiscal second-quarter 2026 sales of $3.7 billion, down 2.3%, while operating profit rose 11.6% to $290 million.

Huya (NYSE:HUYA) reported second-quarter 2026 net revenue of RMB1.74 billion (US$256.3 million), up 11% from RMB1.57 billion a year earlier.

ChipMOS (NASDAQ:IMOS) reported second-quarter 2026 revenue of NT$7.38 billion (US$231.8 million), up 28.7% year over year and 6.5% sequentially.

Philips (NYSE:PHG) raised Exor’s permitted ownership cap to 22% from 20% under an updated long-term relationship agreement.

Silicon Labs (NASDAQ:SLAB) reported second-quarter 2026 revenue of $228 million, up 18% year over year, with medical applications growing 78%.

CMB.TECH (NYSE:CMBT) sold the Suezmax tanker Bristol and expects the transaction to generate a capital gain of approximately $56.9 million in Q4 2026.

Worksport (NASDAQ:WKSP) reported record second-quarter 2026 net sales of $5.23 million, up 27.4% year over year and 57.9% sequentially.

JBS (NYSE:JBS) reported record second-quarter 2026 net sales of $23.9 billion, up 14% from $21 billion a year earlier.

Elbit Systems (NASDAQ:ESLT) reported second-quarter 2026 revenue of $2.29 billion, up about 16% year over year, while its order backlog reached $32 billion.

Benedicte Lowe, Europe equity derivates strategist at BNP Paribas Markets 360, says it's "undeniable that the macro story is picking up in Europe," and that means "positive picture for stocks." She speaks on Bloomberg Television.