New UK Prime Minister, Ryan Fox Wins British Open, More
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What is the main topic discussed in this episode?
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Andy Burnham will become Britain's new Prime Minister today, inheriting an in-trade dominated by a sluggish economy and pressure to tackle the cost of living. In his first address from Downing Street, he's expected to say Britain can look to the future with hope and unity, but must also be honest about the challenges it faces. Burnham will also say he's acutely conscious of Britain's Prime Ministerial turnover, arguing that it shows the need for a more stable and responsible politics. Speaking on Friday, Burnham said he would grow the economy by devolving power.
more power to improve your high street, backing local businesses such as the pubs and the shops that bring them to life. And make no mistake, everybody, I will be a pro-business leader of the Labour Party as I was a pro-business mayor of Greater Manchester.
Burnham speaking there, he's become Labour Party leader at the end of last week. He now takes office with more than a million households behind on their electricity bills, while personal insolvencies in the UK have risen to their highest level since early 2010.
Now, oil has climbed to its highest level in more than a month as the United States and Iran exchange increasingly fierce attacks. Overnight, the U.S. military launched another wave of strikes on the Islamic Republic after three American soldiers were killed in Jordan and Iraq. A week of tit-for-tat attacks have also expanded beyond military targets to include bridges, utilities and port facilities, suggesting little prospect of a return to last month's fragile ceasefire. U.S. Secretary of State Marco Rubio says that the White House still does want a deal.
The United States always remains open to a diplomatic solution. We've tried multiple times with Iran and we'll continue to try. If that door opens, we'll be happy to see it open. And they continue to send signals that they want to talk, that they want to negotiate, but their behavior is what we're responding to. And their behavior is they're launching missiles and drones against ships, including tonight.
Rubio says the US is focused on hitting Iranian assets that are being used to attack commercial shipping. Kuwait is again bearing the brunt of Iran's retaliation. The country's army reported attacks on power and desalination plants causing fires and severe damage.
Who is becoming the new UK Prime Minister and what challenges will they inherit?
The New York Times reports the US is also sending more fighter jets and aerial refuelling aircraft to the Middle East in what could signal a further escalation.
Ukraine's foreign minister has said Russia unleashed its largest ballistic missile attack against Kyiv since the beginning of the war. According to President Zelensky, at least one person was killed and 16 wounded in attacks on the Ukrainian capital over the weekend. He said the strikes underline the need for further defences.
Our air defense forces and sky defenders managed to shoot down 18 missiles and neutralize more than 100 drones. It is very important that our partners understand what is happening and that we need air defense missiles to protect life literally every day.
President Zelensky speaking via translator as Ukraine widened its attacks on Russian warehouses and logistics facilities. It comes as the Financial Times reports the EU faces crumbling support for new sanctions on Russia. Diplomats have warned that member states are refusing to back measures that could harm some of their biggest companies.
China's moonshot AI has told investors that it's preparing for an IPO in as little as six months. That comes after the startup's latest model, Kimi K3, upended industry perceptions of the country's AI capabilities.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–2:39
2
Who is becoming the new UK Prime Minister and what challenges will they inherit?
2:39–5:19
3
What did Andy Burnham say about devolving power and pro-business leadership?
5:19–6:39
4
How are UK households and personal insolvencies impacting the new government?
6:39–7:20
5
Why did oil prices rise after recent US-Iran military exchanges?
7:20–7:44
6
What escalations occurred in the Middle East and how is the US responding?
7:44–8:14
Speakers
6 identifiedMore from Bloomberg News Now
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