Starmer Faces Another Showdown in Parliament

Good morning. Keir Starmer counts on Labour support ahead of a political showdown. South Korea’s stock market overtakes the UK’s. And the Ray-Ban heir is buying out two siblings for €10 billion. Listen to the day’s top stories.

Any hope that Keir Starmer had of putting aside the Peter Mandelson saga will have to wait as the British prime minister braces for another day of parliamentary inquiry into his disastrous appointment of Mandelson as ambassador to the US. Starmer faces a high-stakes vote today on whether to begin an investigation into his assurances to Parliament that due process had been followed in the appointment. The debate will come alongside several hours of committee hearings on the vetting process that cleared Mandelson to take up the post in Washington despite red flags raised by security officials.

Mideast latest. The White House was weighing Iran’s latest proposal, but maintained “red lines” on any deal to end the war. The Wall Street Journal reported that Donald Trump and his advisers were wary of Tehran’s offer, particularly regarding the country’s nuclear program. Meanwhile, an LNG tanker appeared to exit the Strait of Hormuz, the first since the start of the conflict. Check out our Markets Today live blog for all the latest news and analysis relevant to UK assets.