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Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Tiwa Adebayo.
And I'm Stephen Carroll.
The British Prime Minister will make a speech in around an hour's time that's aiming to save his job. Keir Starmer will set out a bolder agenda for his Labour government after disastrous election results revive talk of a leadership challenge.
Chapter 2: What challenges does Keir Starmer face following recent election results?
One relatively unknown Labour MP, Catherine West, says she'll begin an effort to remove Keir Starmer if his cabinet members don't do it.
That level of inertia in the face of the election defeat that we saw on Thursday is a disgrace. Working people sent us a message on Thursday. We have to listen to that and we have to change.
West added she will wait until the Prime Minister's speech to make a final decision. More than 30 Labour MPs have publicly called for Starmer to resign or set out a timetable for his departure, but Education Secretary Bridget Philipson says ejecting their leader will only set the government back.
What I heard loud and clear from voters was their deep sense of frustration that they'd voted for change. They don't feel that we as a Labour government have delivered what they wanted. So I think the last thing is to say, let's have an extended period of time arguing amongst ourselves.
Education Secretary Bridget Philipson speaking there. Catherine West's challenge may force the hand of Starmer's rivals with greater levels of support, such as Health Secretary Wes Streeting and former Deputy Prime Minister Angela Rayner.
In a statement on Sunday night, Rayner said, what we are doing now isn't working and the Prime Minister must now meet the moment but stop short of declaring a run against Starmer.
The United States and Iran have rejected each other's proposals to end their 10-week conflict. President Trump described Tehran's latest offer as totally unacceptable.
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Chapter 3: How are Labour MPs responding to Starmer's leadership?
Oil prices surged on the news with Brent crude climbing back above $105 a barrel. Iran hasn't officially confirmed the details of the proposal. However, the Wall Street Journal reports that Tehran suggested diluting part of its highly enriched uranium stockpile and sending the remainder to a third country. Iran's semi-official Tasnim news agency has dismissed that report as not true.
Jeff Mason is our Washington correspondent.
We've been waiting for a few days to hear back from the leaders in Tehran. And there had been some expectation or at least some anticipation that the response could lead to a longer peace deal, which is what President Trump has been wanting.
The White House proposing that the ceasefire continue and that they then essentially get the Strait of Hormuz open and table for now and get to it later longer term discussions about Iran's nuclear programme.
Jeff Mason was speaking after President Trump claimed just last week that Iran had already agreed to give up its nuclear ambitions. Meanwhile, more than 40 countries are meeting today to outline potential military contributions to the UK and France-led mission to escort ships through the Strait of Hormuz once a stable ceasefire is in place.
President Donald Trump is expected to press China's Xi Jinping over his country's approach to Iran when they meet in Beijing, according to senior U.S. officials. The two leaders will hold talks on Thursday and Friday in Beijing as they wrestle with disagreements over trade and the U.S.-Israeli war with Iran. China is Iran's biggest oil buyer and a key diplomatic backer.
Bloomberg's co-head for Asia, John Liu, says there are high stakes attached to this meeting.
Anytime that the leader of the United States and the leader of China have a face-to-face meeting, they're extremely important for the globe. There are big questions that these two gentlemen, only with them sitting down can we resolve.
Bloomberg's John Liu speaking there. During the meetings, Trump and Xi are also expected to discuss a new board of trade, as well as agreements on agriculture, aerospace and energy. Beijing officially confirmed the date of the US president's state visit earlier today. It will be the first visit of its kind in nearly a decade, despite ongoing tensions over the Middle East.
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