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Early results in the local elections showed Nigel Farage's populist Reform UK racking up sweeping gains over Prime Minister Keir Starmer's Labour. The results reaffirm a splintering of British politics that's seen the insurgent Reform and Green parties make up ground on the right and left. Bloomberg's Alex Morgan reports from London.

Sam Lynton-Brown, head of global macro strategy at BNP Paribas Markets 360, discusses the economic situation in the United Kingdom. Speaking on Bloomberg Television, he says BNP is not expecting UK long-term borrowing costs to go higher following the yield on 30-year gilts' jump to 5.78% earlier in the week. "We think that's actually one of the DM bond markets that should be a little bit more insulated given how cheap valuations already are," Lynton-Brown says.

President Donald Trump says Iran's economy is crashing because of the Strait of Hormuz blockade during remarks to reporters at the White House.

President Donald Trump said he would be removing some whiskey tariffs following a visit from King Charles III during remarks to reporters at the White House.

Bank of England Governor Andrew Bailey said inflation is expected to rise to "a little over 3.5% by the end of the year" as a direct consequence of the conflict in the Middle East. He was speaking during a press conference following the central bank's decision to keep interest rates on hold with several policymakers saying they might consider future hikes.

President Donald Trump praised the "cherished" bond between the US and UK as he hosted King Charles III at the White House on Tuesday.

London Mayor Sadiq Khan discusses artificial intelligence, migration, affordable housing and why voters shouldn't back the populist Reform UK in next week's local elections, describing Nigel Farage's party as a "poor man's version of President Trump and MAGA." Khan also backed Prime Minister Keir Starmer to survive the growing scandal around his 2024 appointment of Peter Mandelson as ambassador to Washington. He talks with Chad Thomas at Bloomberg's CityLab conference in Madrid, where a new forum involving mayors from across the world to ensure artificial intelligence works for effectively for cities was announced.

UK inflation accelerated in March, as a surge in energy costs triggered by the Iran war started to hit consumers in the pocket. The consumer prices index rose 3.3% from a year earlier, up from 3% the previous month, the Office for National Statistics said Wednesday. Santander Corporate and Investment Banking Economist Victoria Clarke reacts to the data on Bloomberg Television.

Nik Storonsky, Revolut co-founder and CEO, said he wants to take the London-based digital bank public, but not until at least 2028, extending the timeline on one of Europe's most anticipated offerings. "Two years away," Storonsky said regarding a potential initial public offering in an interview with David Rubenstein for an upcoming episode of "The David Rubenstein Show: Peer to Peer Conversations."

Anthropic's new AI has banks, tech giants and governments scrambling to understand what could change for cybersecurity and the future of the internet. We show why its Mythos model is raising alarms.