UK Unemployment 5-Year High, Geneva Peace Negotiations, More
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What factors contribute to the UK's business environment?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over £10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Caroline Hepker.
And I'm Stephen Carroll.
Two high-profile sets of negotiations are taking place in Geneva today. The US and Iran are holding a second round of nuclear talks. US Secretary of State Marco Rubio says that he's hopeful Tehran and Washington can broker an agreement. On board Air Force One, President Trump said that he will be following the talks closely.
So I'll be involved in those talks indirectly, and they'll be very important, and we'll see what can happen. It's been typically, reds are very tough to negotiate. I think they want to make a deal. I don't think they want the consequences of not making a deal. They want to make a deal.
President Trump has moved forces to the region and threatened to strike Iran unless it agrees to a deal curbing its nuclear programme. Tehran has begun conducting military drills around the Straits of Hormuz, according to the Tasnim news agency. Iran's Foreign Minister Abbas Araghchi held talks with the head of the UN's atomic watchdog on Monday, but facing American pressure, he said in a social media post, there would be no submission before threats.
Meanwhile, expectations are low for any breakthrough on discussions to end the war in Ukraine, also taking place in Geneva. Officials and analysts say that President Vladimir Putin believes time is on his side and support for Ukraine will peter out. A spokesperson for President Putin, Dmitry Peskov, says Russia is taking the talks seriously.
This time, we intend to discuss a broader range of issues related to the territories and other matters connected to our demands. The presence of the chief negotiator, that is, Medinsky, is now essential. Indeed, the delegation will now be expanded this time. In addition to Medinsky, Deputy Foreign Minister Galuzin and other officials will be there.
Dmitry Peskov there, speaking via translator. Russia has spent months repeatedly striking Ukrainian cities, leaving hundreds of thousands without power in a bid to bring the country to its knees. But Bloomberg analysis suggests the war's human and economic cost to Russia is rising, especially in border regions. Both sides say any potential progress today would need to be agreed by their respective leaders.
US Secretary of State Marco Rubio has praised the Hungarian Prime Minister Viktor Orban during a visit to Budapest. The US is doubling down on its support for the populist leader as the country prepares for elections next month. Speaking in Budapest, Rubio said that President Trump would provide assistance to Hungary if it ever ran into financial trouble.
What are the current negotiations happening in Geneva?
He said the two countries are entering a golden era of relations.
I can say to you with confidence that President Trump is deeply committed to your success because your success is our success. Because this relationship we have here in Central Europe through you is so essential and vital for our national interests in the years to come.
Secretary of State Marco Rubio there.
What is the significance of the US-Iran nuclear talks?
After President Trump gave his personal endorsement of Orban this month, despite the Prime Minister's party trailing in the opinion polls ahead of the vote on the 12th of April.
In earnings news, the mining giant BHP has posted bumper profits thanks to a surge in demand for copper and a broader metals rally. Earnings rose 22% year on year as a years-long effort to boost copper production paid off. According to the firm's CFO, Vandita Pant, BHP is set to boost its offering of the metal even further.
For the first time, 50%, more than just about 50% of our earnings EBITDA came from copper. And performance across our assets has been very good. To take example of Escondida, which is our largest mine that we run in Chile, we are revising the guidance up for this year and next year.
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