Morning Headlines

Starmer announced his resignation Monday morning following a weekend of speculation sparked by Labour's crushing local-election losses and Andy Burnham's by-election win; he becomes the sixth British PM to leave office in a decade. He will remain caretaker until a leadership contest concludes by September, with Burnham immediately declaring his candidacy.

American and Iranian negotiators met face-to-face Sunday in a 60-day sprint to lock down a permanent nuclear deal, but Trump rattled the talks by telling Fox News the US could resume strikes and 'take over' the Strait of Hormuz if an agreement is not reached. Mediators Qatar and Pakistan called the session 'positive and constructive,' with technical talks continuing in Switzerland this week.

Overnight Ukrainian drone strikes on a Crimean oil depot and a Krasnodar fuel terminal killed four people and prompted Russia's Kremlin-appointed governor to halt all civilian gasoline sales indefinitely — the worst fuel crisis on the peninsula since its 2014 annexation. Speculators are reportedly selling petrol at double the market price as stranded tourists flood an emergency hotline.

Far-right lawyer and businessman Abelardo 'El Tigre' de la Espriella edged out left-wing rival Iván Cepeda 49.7% to 48.7% in Sunday's runoff, becoming the most-voted presidential candidate in Colombian history and marking a sharp political reversal for the country. He has pledged a sweeping military offensive against guerrilla groups on his first day in office.

Shares of Intel jumped sharply Monday after President Trump announced the semiconductor giant will produce chips for Apple domestically, lifting the broader chip sector — Nvidia gained 2.8% and Micron climbed 8.5%. The broader market edged lower, however, as the Fed's newly hawkish stance and this week's PCE inflation reading kept investors cautious.