Photographer: Julia Schmalz/Bloomberg

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Here are today’s top stories for Europe.

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Pressure has continued to build on President Donald Trump, who said he has an “absolute right” to share “facts” with Russia. Senate Majority Leader Mitch McConnell told Bloomberg he’d like to see “less drama” from the White House, though he declined to comment directly on reports that the president disclosed highly classified information to Russians. If it were anyone else in the government, except possibly the vice president, that person would be going to prison, writes Noah Feldman on Bloomberg View. — Siraj Datoo

Higher prices. U.K. consumer prices rose 2.7 percent in April from a year earlier, the fastest pace of inflation since September 2013 and a bit higher than economists were expecting. Bloomberg’s Brexit Barometer, which measures the impact of the separation on Britain, dropped the most in more than six months.

An “immense” task. That’s how Emmanuel Macron describes reforming France’s economy. Macron’s plan includes lower business taxes, more-flexible labor rules and a simpler pension system. In the past 10 years—sometimes called France’s Lost Decade—the country’s economic ills kept mounting. These charts show the results—and what Macron faces if he can’t turn his country around.

Electric cars are good for Glencore. At a conference in Barcelona, Chief Executive Officer Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric-vehicle revolution is happening, and its impact is likely to be felt faster than expected,” he said.

Emerging-market stocks are scorching. The gains that have put emerging-market equities on track for their best year since 2009 are showing signs of overheating. This chart shows why.

It may be the end for property’s “great run.” That’s according to Blackstone, the world’s biggest private-equity fund, which told investors to dial back their expectations for property returns. Investors should “calibrate,” Chris Heady, Asia Pacific chairman and head of Asian real estate, said at a conference in Singapore. “They’re probably going to be lower over the next five years.”

MURMANSK REGION, RUSSIA - APRIL 27, 2017: Houses in the settlement of Teriberka on the Arctic coast north-west Russia. Lev Fedoseyev/TASS (Photo by Lev Fedoseyev\TASS via Getty Images)

Houses in the settlement of Teriberka on the Arctic coast north-west Russia.

Lev Fedoseyev/TASS

Who owns the Arctic? As the sea ice melts, the Arctic Ocean gradually becomes more accessible for economic development. First, though, sovereign governments need to figure out who owns what. Russian President Vladimir Putin, for one, is taking aggressive steps.

Compiled by Siraj Datoo and Leila Taha

(Corrects name of company in sixth paragraph.)
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