James Wilcock

Oil prices dropped on the optimism, with Brent set for the lowest close in more than a month.

the U.S.

has paused a $14 billion arms sale to Taiwan.

Bloomberg's Monica Ricks has the story.

And Russia has confirmed its military fired a hypersonic Areshnik missile towards Kyiv.

The Areshnik missile is capable of carrying a nuclear warhead and is theoretically able to target most of Europe and the US West Coast.

The escalation was part of an attack involving approximately 90 missiles and 600 drones.

Ukraine's Air Force say most of the missiles and drones were shot down.

But President Volodymyr Zelensky says that two people were killed and over 80 were injured.

He called for solutions from the US and Europe.

Those are your top stories.

On the market, it's a public holiday in the US and the UK.

So cash treasuries, gilts and stocks are all not trading.

But Brent dropped over 5% and is currently trading at $98 a barrel, the lowest in more than two weeks.

That's to use when you want it.

I'm James Wilcock and this is Bloomberg.

At a senior meeting of cabinet ministers yesterday, Starmer said he wouldn't go without a fight.

But more than a fifth of his MPs and junior ministers are now publicly calling for him to stand down after a landslide loss in local elections last week.

He met one of his potential challengers this morning, Health Secretary Wes Streeting.

People don't expect any fireworks today as the King is speaking in Parliament.