Jack Sidders

News when you want it with Bloomberg News Now.

I'm Jack Sidders.

A growing number of junior government ministers and backbench MPs are calling on Keir Starmer to quit as momentum builds against the British Prime Minister.

Bloomberg understands Cabinet ministers, including Home Secretary Shabana Mahmood, have privately told Starmer to set out a timetable to step down.

The meeting came after the Prime Minister defended his party's poor local election results.

Keir Starmer's speech was billed as a change of direction, but instead prompted waves of lawmakers to publicly urge him to go.

More than 70 of Labour's 403 MPs have now called on Starmer to step aside.

Chris Curtis is one of them.

Labour MP and head of the Labour Growth Group in Parliament Chris Curtis there.

The Prime Minister is chairing a Cabinet meeting this morning where he will have to confront some senior ministers who privately think his time is up.

Oil prices are climbing after President Trump cast doubt on the fragile US-Iran ceasefire.

Brent crude rose above $105 a barrel as fears grow that the Strait of Hormuz could remain closed for longer than markets had hoped.

Speaking in the Oval Office, Trump dismissed Tehran's latest proposal.

Trump's comments came after sources told Bloomberg that Iran's offer demanded the US lift its naval blockade and provide sanctions relief, while allowing Tehran to retain a degree of control over traffic through the strait.

According to Axios, citing multiple US officials, Trump met his national security team yesterday to discuss the war and the possible resumption of military action.

In a further sign of escalation, Iran's semi-official Tasnim news agency says the country has now deployed armed mini-submarines in the Persian Gulf.

Michael Burry says he believes the Nasdaq 100 index is headed for a dramatic reversal after what he has dubbed a parabolic surge.

With more, here's Bloomberg's Chris Pitt.

That's news when you want it with Bloomberg News Now.

I'm Jack Sidders.