Vance and Iran Cite ‘Progress’, Starmer Quits, More
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Hi, I'm David Weston.
News when you want it with Bloomberg News Now. I'm Karen Moscow. Vice President J.D. Vance says progress was made in peace talks with Iran.
What progress has been made in peace talks with Iran?
Tehran's foreign minister made a similar statement overnight. During a news conference today in Lucerne, Switzerland, Vance said technical teams will continue talks on several major issues over the next 60 days.
I think it's important for all of us to appreciate how much was done. But honestly, there is still a lot to do As we continue to make progress on the nuclear talks, on the economic talks, as we continue to demine the straits and ensure that that flow of traffic continues to pick back up.
And we get more on the vice president's comments with Bloomberg's Tyler Kendall. He said the goal of this weekend was to establish four main things. One, outline this process for the broader talks. Two, establish what is being called the deconfliction cell, which will extend the ceasefire to Lebanon. He did confirm that Iran threatened to walk out of the talks after President Trump said that he would strike the country if Hezbollah didn't stop attacking Israel. Three, he said Iran has agreed to invite inspectors back into the country, he says, as soon as this week potentially. And four, a mechanism to keep the Strait of Hormuz open. And that's Bloomberg's Tyler Kendall.
This morning, Iranian Foreign Minister Abbas Sarrachi said the mediators, Qatar and Pakistan, had managed to ease some of the tensions over Lebanon. He added Iran was beginning to see financial benefits from last week's moratorium of understanding. including waivers of U.S. sanctions on its oil exports and assets in countries such as Qatar being unfrozen. U.K. Prime Minister Keir Starmer announcing he is resigning after suffering a precipitous fall from favor. In remarks this morning, Starmer said he will step aside following an election over the summer.
The question my party is asking now is whether I am best placed to lead us into the next general election. I have heard the answer of my parliamentary party to that question. And I accept that answer with good grace.
Starmer's announcement paves the way for Andy Burnham to succeed him. Starmer's exit opens the doors to Britain's fifth premiere since 2022. France is enduring a grueling heat wave with temperatures soaring above 104 degrees Fahrenheit. The National Weather Service describes the situation as a plateau of unrelenting heat. It's not expected to ease until Friday. Extreme heat and dry, windy conditions are fueling several wildfires in the west. That includes an uncontained blaze in Utah that forced the evacuation of a small town that was southwest of Salt Lake City. Spiking gas prices pushing Canadian inflation to the highest in over two years, while the breadth of price pressures narrowed and core measures were little changed.
The yearly change in the Consumer Price Index hit 3.2 percent in May. That was the highest level since December 2023. Saudi Arabia's monetary authority has pulled billions of dollars from at least two global asset managers in recent months. And it's a sign that the custodian of one of the world's deepest pools of capital is growing more selective with deployment. Sources tell Bloomberg the redemption started before the onset of the Iran war. Colombian bonds rose after Abelardo de la Espriella won one of the tightest presidential elections in the nation's history that sets the stage for a swing to market-friendly policies that have sparked rallies across Latin America. SpaceX selling investment-grade bonds for the first time and was expected to be the start of a massive borrowing spree to fund the company's AI ambitions following its record $75 billion IPO.
AbbVie agreed to buy Apogee Therapeutics for $10.9 billion, one of its largest deals in recent years. And Toy Story 5 debuted as the highest-grossing movie in the U.S. and Canadian theaters this weekend. Today, we're remembering Alan Greenspan, the former Federal Reserve chairman who died at the age of 100 due to complications of Parkinson's disease.
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