P.M. Edition for May 8. Who is Robert Francis Prevost, the Catholic Church’s 267th pontiff? WSJ reporter Drew Hinshaw answers that question from Vatican City. Plus: the U.S. agrees to a new trade deal with the U.K.—while the European Union draws up a list of American tariff targets. WSJ’s Kim Mackrael has the details from Brussels. And, the Federal Aviation Administration could modernize the nation’s air-traffic control system in the next few years, but Transportation Secretary Sean Duffy says Congress needs to front the funding. Victoria Craig hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: Who is Robert Francis Prevost, the first American Pope?
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President Trump announces his first new trade deal with the U.K. That's as U.S. negotiations with China are set to kick off this weekend. How businesses in both countries are coping with existing tariffs.
For a lot of Chinese manufacturers that mainly export to the U.S. and for American businesses that heavily rely on Chinese imports into this country... It really has been a chaotic time.
And... Peace be with you all.
Those were the first public remarks from the first American pope. It's Thursday, May 8th. I'm Victoria Craig for The Wall Street Journal, filling in for Alex Osola. This is the PM edition of What's News, the top headlines and business stories that move the world today. We begin in the Oval Office today.
You all set to go? Ready when you are. Okay, we're ready. We have the Prime Minister on the phone, and we have a nice hookup.
With British Prime Minister Keir Starmer on the phone and flanked by members of his own administration, President Trump announced the outlines of a new trade agreement between the two countries.
Today's agreement with the UK is the first in a series of agreements on trade that my administration has been negotiating over the past four weeks. With this deal, the UK joins the United States in affirming that reciprocity and fairness is an essential and vital principle. of international trade.
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Chapter 2: What new trade deal did the U.S. make with the U.K.?
Thank you.
On Wall Street today, stocks extended their rise after President Trump detailed that U.K. trade deal and expressed high hopes for the talks with China. The Dow and S&P 500 both rose roughly half a percent. The Nasdaq gained just over 1 percent. Coming up, what do we know about the first American pope? That's after the break.
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Celebration in Vatican City today as Pope Leo XIV appeared on the central balcony of St. Peter's Basilica. American Cardinal Robert Francis Prevost became the 267th leader of the global Catholic Church and the first American to take the role in Christianity's 2,000-year history. Drew Henshaw is a senior reporter for The Wall Street Journal, and he joins me now from just outside the Vatican.
Drew, what was the scene like today at the Vatican?
Well, white smoke goes up and the whole crowd is waiting there for an hour with bated breath, people clapping, singing hymns. And all of a sudden the name comes out, Roberto Francesco, and everyone's kind of confused and they look at each other. And I'm standing next to these two Italian, elderly Italian women who go, Americano? Americano?
And then a bunch of Americans are cheering and people are digesting the fact that for the first time in the history of the Catholic Church, it is being led by someone from the United States.
And that's what's so interesting about this story, isn't it? Because conventional wisdom had been that a cardinal from the U.S. was basically unelectable due to America's position as a global power player. So how significant is his nationality in all of this?
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