Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) US President Donald Trump keeps repeating that the Strait of Hormuz — through which one fifth of the world’s oil and liquefied natural gas supplies normally flow — will reopen by Friday.

(2) The UK said it would impose fresh sanctions on Russia and extend further energy support to Ukraine, as Prime Minister Keir Starmer and his European allies seek to increase pressure on Vladimir Putin and encourage US President Donald Trump to push for new peace talks to end the conflict.

(3) Swiss voters are more inclined to back closer ties with the European Union than reject it, a poll showed in the wake of a plebiscite that had threatened to upend the relationship.

(4) China’s consumer spending and investment slumped to levels unseen since the pandemic, exposing risks still facing the economy even as it benefits from a deescalation in tensions around Iran while exports boom.

(5) SpaceX shares jumped in their second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies.

(6) Andy Burnham, the prime ministerial-hopeful who markets worry may be too far to the Left, has at least one economic idea that should go down well across the political spectrum: reverse deindustrialization.

Podcast Conversation: Polymarket Traders Clash Over $345 Million Iran Peace Market

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Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) The US and Iran said they reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for 60 days of negotiations on the fate of Tehran’s nuclear program.

(2) Oil sank after the US and Iran agreed to an interim deal to end their months-long war, potentially allowing the Strait of Hormuz to reopen and easing a supply crunch that has rattled global energy markets.

(3) “We are prepared to lift relevant sanctions in response to clear, verifiable steps by Iran on its nuclear programme,” according to a joint statement from the leaders of the UK, France, Germany and Italy.

(4) The Iran war has produced an unusual sight on the Bank of England’s rate-setting panel: unity. Economists don’t expect it to last.

(5) Artificial intelligence is pulling the global labor market in two opposite directions, rewarding companies that use AI to enhance human skills, while leaving those who use it merely to cut costs further behind, a new study suggests.

(6) Keir Starmer will start a crucial week for his premiership by announcing a package of strong restrictions designed to protect British teenagers from online threats.

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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to the next FOMC decision, along with a focus on 3 stocks for the week ahead.
• In the UK – a look ahead to a high stakes UK election and Bank of England decision.
• In Asia – a look ahead to a monetary policy decision from the Bank of Japan.

See omnystudio.com/listener for privacy information.