Epstein Revelations Fallout, Gold Rout Deepens, More
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The fallout is growing following Friday's release of around three million pages of material related to the convicted sex offender Jeffrey Epstein. Britain's former ambassador to the United States, Peter Mandelson, has resigned his Labour Party membership over his links to the disgraced financier. Mandelson said that he took the decision to avoid further embarrassment after documents revealed that payments totalling £75,000 were made by Epstein to him and his partner in 2003. The documents also show that in 2009, Mandelson attempted to prevent the UK from introducing a tax on bankers' bonuses following a request from Epstein. Mandelson, who remains a peer in the House of Lords, says he believes the allegations of financial payments to him by Epstein are false and need investigating by him.
Among the material are images appearing to show former British Prince Andrew Mountbatten-Windsor kneeling over a woman. UK Cabinet Minister Steve Reid says that the former prince should now testify before the US Congress about his relationship with Jeffrey Epstein.
The principle here is very, very clear. If Andrew Mountbatten-Windsor clearly has insight into what was going on and he should testify because the victims deserve and need him and anybody else who may have witnessed things to do that.
Steve Reid was speaking as UK Prime Minister Keir Starmer also called on Prince Andrew to testify. The growing pressure comes as the wider document release reveals fresh insights into the rich and well-connected figures who circulated in the orbit of the late king. disgraced financier. The documents show that some individuals, including US Commerce Secretary Howard Lutnick and former Microsoft executive Steven Sinofsky, maintained contact with Epstein for longer than they had previously claimed. Lutnick told the New York Times on Friday that he, quote, spent zero time with Epstein, but declined to comment on the documents. Representatives from Andreessen Horowitz did not respond to a request for comment.
The price of gold is falling further after its biggest plunge in a decade, reversing a record-breaking rally that appeared to have run too far, too fast. The spot price has slumped by as much as 7.9% today, while silver has also plunged by as much as 14% in a volatile session. The sell-off was sparked on Friday after US President Donald Trump announced he would nominate Kevin Warsh to lead the Federal Reserve. That sent the dollar higher and undercut sentiment among investors who'd bet on Trump's willingness to let the currency weaken. Precious metals have risen to an all-time highs as investors piled into gold and silver on renewed concerns about geopolitical turmoil, currency debasement and the Federal Reserve's independence.
Prime Minister Keir Starmer says that he still wants the UK to join the European Union's 150 billion euro defence fund after negotiations last year ended in failure. He told reporters over the weekend that it, quote, makes good sense for Europe in the widest sense of the word. to work more closely together as the continent looks to counter Russian aggression. Starmer's remarks came ahead of a series of meetings between senior UK and EU officials in London this week. If a deal is reached, British defence firms would be able to bid for contracts funded by SAFE, the Security Action for Europe programme.
Iran's supreme leader has warned of a regional war as President Trump threatens military action. The news comes after weeks of escalating tensions over Tehran's deadly crackdown on civilian protests.
What are the key revelations from the Jeffrey Epstein document release?
In a broadcast on state television yesterday, Ayatollah Ali Khamenei said the Iranian people will strike back forcefully against anyone who wants to attack or cause harm.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–4:14
2
What are the key revelations from the Jeffrey Epstein document release?
4:14–4:46
3
How did Peter Mandelson respond to allegations related to Epstein?
4:46–7:59
4
What insights do the Epstein documents reveal about Prince Andrew?
7:59–8:02
Speakers
7 identifiedMore from Bloomberg News Now
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