Starmer Takes Responsibility For Losses, US-Iran Strikes, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm James Woolcock.
And I'm Caroline Hepker.
The UK's ruling Labour Party is headed for significant losses in local elections. Speaking this morning, Prime Minister Keir Starmer says the results are very tough and there's no sugarcoating it, adding that he takes responsibility for the losses. Nigel Farage's right-wing Reform UK party has already gained more than 350 council seats across England, as Labour racks up hundreds of losses in a disastrous election night.
What significant losses did the UK's Labour Party face in local elections?
Labour has also suffered early losses to the Greens, with expectations of further defeats in councils that begin counting later this morning. With growing expectation within Westminster, the results could determine Keir Starmer's future as party leader. The results could also accelerate the end of a system of two-party politics in the UK. YouGov's Patrick English discusses the counts.
Right now, it's certainly the case that the two-party politics has been swept aside and we're in an intense moment of contests, really, five, six, maybe even seven-party contests, depending on where you are.
How does Keir Starmer take responsibility for the Labour Party's election results?
And that, interacted with the first-past-the-post electoral system, creates some quite chaotic results. We're seeing councillors being elected on sort of 25%, 30%, 35% of the vote at the minute. An interesting place for an electoral system to land in, really.
That was Patrick English, YouGov's head of elections and political and social data. The results of Scottish and Welsh Parliament elections will be announced later today.
Now, the US has struck military targets in Iran after the country fired on three US Navy destroyers sailing in the Strait of Hormuz. The latest clash threatens to shatter an increasingly fragile ceasefire, just as both sides say that they are discussing an end to the war. President Trump is threatening further strikes if there's 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 U.S. offer and have shown little sign of yielding on their nuclear program or on accepting a moratorium on uranium enrichment. Here is Bloomberg Senior Editor Derek Walbank.
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.
What impact do the election results have on Keir Starmer's leadership?
Bloomberg's Derek Warbank there. A statement from US Central Command says that Iran used missiles, drones and small boats, but that no American assets were hit. US forces say that they responded by targeting Iranian missile and drone launch sites, as well as command and control and intelligence facilities.
The U.S. Court of International Trade has ruled against President Donald Trump's latest 10% global tariffs. A three-judge panel granted a request by a group of small businesses and two dozen mostly Democrat-led states to invalidate the levies he imposed in February. However, the court made clear that for now, the injunction only blocks tariffs against Washington state and the two companies that sued. It's a fresh blow to the U.S. President's economic agenda just months after the Supreme Court struck down previous duties.
Well, the European Union has been given a deadline of July 4th by President Trump to ratify the US-EU trade agreement. Bloomberg's Ewan Potts has more.
Having previously threatened to hike tariffs on auto imports as soon as this week, Donald Trump has extended his deadline for the EU to ratify its trade deal.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–0:30
2
What significant losses did the UK's Labour Party face in local elections?
0:30–1:01
3
How does Keir Starmer take responsibility for the Labour Party's election results?
1:01–2:45
4
What impact do the election results have on Keir Starmer's leadership?
2:45–6:26
5
What recent military actions have the US taken against Iran?
6:26–6:43
Speakers
7 identifiedMore from Bloomberg News Now
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