War Worries Impact Markets, Trump Prepares for China, 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.
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News when you want it with Bloomberg News Now. I'm Nathan Hager. And I'm Alexis Christophorus. Here are the stories we're following today. Alexis, tensions are building once again between the U.S. and Iran as the world waits for Iran's response to a U.S. peace offer. This morning, Iran's semi-official Tasnim news agency is reporting Iranian army commandos seized an oil tanker named Ocean Khoi for alleged violations aimed at disrupting Iran's oil exports and interests. That's after the U.S. attacked missile and drone launch sites inside Iran it says were used to go after three U.S. warships in the Strait of Hormuz. Amid all this, President Trump says the ceasefire is still intact.
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.
President Trump's threatening to hit Iran even harder if it does not reach a deal. We get more from Bloomberg's Jumana Bersetchi in Dubai.
There is a strong push from the U.S. side to get a deal across the line, but we are still in this period where we're waiting to hear back from the Iranians officially about the 14-point, one-page proposal that the U.S. has put forward. As you were reporting earlier in the week, some of the demands that the U.S. have put on that paper are deemed to be quite maximalist from Iran's standpoint. So it is unclear at this point whether there can be some form of a compromise and indeed whether you can get to a compromise over a 30-day period.
Bloomberg's Germana Brissetti reports Iran is still expected to respond to the U.S. offer through Pakistani mediators in the next two days. President Trump is moving ahead with plans to hold a summit with his Chinese counterpart Xi Jinping next week in Beijing, and he's bringing some big-name guests along with him. Bloomberg's Tom Busby reports from New York.
The president bringing a who's who of American business leaders for next week's summit in China. despite there being no resolution to the U.S. war against Iran. Now, among those planning to attend, Blackstone CEO Steve Schwarzman, Citigroup CEO Jane Frazier, with Semaphore reporting that the administration also plans to invite Kelly Ortberg of Boeing, Jensen Wang of NVIDIA, and others. Trump and Xi slated for a sit-down meeting May 14th and 15th. That summit has already been postponed once due to the war. Tom Busby. Bloomberg Radio.
Tom, thanks. Let's turn to politics in the UK now. The Labour government is taking heavy losses as a first wave of local election results comes in. For more, let's go to London and get the latest with Bloomberg's James Woolcock. Good morning, James.
Good morning, Nathan, Alexis. The early signs are that it is a disastrous election for the governing Labour Party. So far, the party are losing 50% of the seats they are defending, mostly to the right-wing Populist Reform UK party. Now, Prime Minister Keir Starmer says the results are very tough and that he takes responsibility for those losses. But he adds that he's not going anywhere and he will fight the next general election.
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