Starmer sets a tilt to Brussels, seeking deeper UK‑EU cooperation on defence and the economy after Trump’s comments strained trust. He wants deals at a summer summit, coordination to secure key shipping lanes, and says Britain will resist US pressure where interests diverge.

Brent crude rose past $119, heading for a record monthly jump, as Middle East tensions unsettled supply expectations. Markets faltered, with equities slipping and borrowing costs edging up. Washington urged partners to raise output while leaving the option of further action open.

French AI group Mistral has secured $830m in debt to build European data centres, boosting compute for its models and supporting a push for digital sovereignty. The plan offers an alternative to US providers, though analysts warn of possible overcapacity and high financing costs.

Distressed investors say turmoil in private credit offers the biggest opening since 2008. With rates high, borrowers face refinancing stress and forced sales, while cash calls pressure major managers. Software firms reliant on leveraged loans are seen as particularly exposed to valuation resets.