Starmer Faces Wipeout, US Bombs Iran Targets, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
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News when you want it with Bloomberg News Now. I'm Stephen Carroll.
And I'm Caroline Hepker.
The UK's ruling Labour Party is heading for significant losses in local elections this morning. Nigel Farage's right-wing Reform UK party has already gained more than 250 council seats across England, marking a disastrous election night for Prime Minister Keir Starmer. Labour has also suffered early losses to the Greens, with expectations of further defeats in councils that begin counting later this morning. There's growing expectation within Westminster that the results could determine Keir Starmer's future as party leader. Speaking to the BBC, Deputy Prime Minister David Lammy warned against attempts to replace the Prime Minister.
You don't change the pilot during the flight. You carry on and you recognise too that governments sometimes, particularly incumbent governments, have it hard.
However, Lammy's comments will offer little comfort to many of the party's MPs who may now be wondering whether a change in leadership could revive their fortunes. Elsewhere, the Conservatives have also lost dozens of seats to Reform UK, though they have not yet lost control of any councils. Meanwhile, it's been a strong night so far for the Liberal Democrats, who gained control of councils in Stockport and Portsmouth. The results of the Scottish and Welsh Parliament elections will be announced later today.
The United States has struck military targets in Iran after the country fired on three U.S. Navy destroyers sailing in the Strait of Hormuz. The latest clash threatens to shatter an increasingly fragile ceasefire, just as both sides say they are discussing an end to the war. President Donald Trump is threatening further strikes if there is no deal.
They trifled with us today. We blew them away. They trifled. I call that a trifle. I'll let you know when there's no ceasefire. You won't have to know. If there's no ceasefire, you're not going to have to know. You're just going to have to look at one big glow coming out of Iran. And they better sign their agreement fast.
Despite Trump's threats, Iran's leaders have not indicated whether they will accept the terms of the US offer and have shown little sign of yielding on their nuclear programme or accepting a moratorium on uranium enrichment. Here is Bloomberg's senior editor, Derek Warbank.
This is an escalation in hostilities. You've seen this go and reflect in the immediate commodities markets. So you're seeing an instant sort of impact there. I think everyone is kind of watching to see what happens here. Is there a way to get a deal signed that reopens that critical energy waterway that brings the hostilities down? But this is certainly going in the wrong direction if you're looking for that.
Bloomberg's Derek Warbank. A statement from US Central Command says Iran used missiles, drones and small boats, but that no American assets were hit. US forces say they responded by targeting Iranian missile and drone launch sites, as well as command and control and intelligence facilities.
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