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Speaker 1: News when you want it with Bloomberg News Now. I'm

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Speaker 1: James Worcock. Labor are on course for a landslide UK

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Speaker 1: election victory, winning two hundred and two seats so far

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Speaker 1: as results come in. The exit poll forecast the party

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Speaker 1: winning four hundred and ten seats when all votes are counted.

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Speaker 1: That would give leader Keith Starmer a near record majority

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Speaker 1: in Parliament. At his victory speech, he says people have

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Speaker 1: decisively voted for change.

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Speaker 2: Nice people here and around the country have spoken and

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Speaker 2: they're ready for change to end the politics of performance,

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Speaker 2: a return to politics as public service. The change begins

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Speaker 2: right here. Because this is your democracy, your community and

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Speaker 2: your future. You have voted. It is now time for

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Speaker 2: us to deliver. Thank you very much.

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Speaker 1: Starmer's party has had a universally good night, losing a

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Speaker 1: select few high profile seats over left wing discontent on Gaza.

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Speaker 1: The pound traded steady on the news with Cable little changed.

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Speaker 1: So far, Labour have won two hundred and two constituencies,

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Speaker 1: the Conservatives thirty six, Liberal Democrats twenty three, the SMP

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Speaker 1: four and Reform three, with three hundred and eighty two

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Speaker 1: seats yet to declare. Three Conservative cabinet ministers have lost

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Speaker 1: their seats, with many of the government's top figures likely

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Speaker 1: to follow suits. Justice Secretary Alex Chalk was first to

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Speaker 1: be ousted by the Liberal Democrats. I dearly wanted to serve,

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Speaker 1: not to hold office for office's sake, but because I

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Speaker 1: passionately believe in public service and I have more to give.

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Speaker 1: But you can't only love democracy when you win, Alex Chalk,

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Speaker 1: the Justice Secretary, speaking there. If the polls are right,

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Speaker 1: the Tory parties showed the vote and seat tally could

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Speaker 1: be the lowest in the party's history. The other major

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Speaker 1: story of the campaign has been the rise of the

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Speaker 1: right wing Reform UK Party, which is predicted to win

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Speaker 1: thirteen seats in the exit poll. The party leader Nidril Farage.

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Speaker 1: He gave a victory speech as he won the Clacton constituency.

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Speaker 1: He says the results show a new chapter for his party.

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Speaker 3: We are going to come second in hundreds of constituencies.

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Speaker 3: How many scenes we're going to win, I don't know.

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Speaker 3: But to have done this in such a short space

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Speaker 3: of time says something very fundamental is happening.

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Speaker 1: It was Farage's eighth attempt to become an MP. His

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Speaker 1: entry to Parliament is likely to cause further risks inside

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Speaker 1: the Conservatives, with some saying he should be welcomed into

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Speaker 1: their fold. The income and in government is facing an

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Speaker 1: economy where inflation is low, interest rates are set to fall,

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Speaker 1: and the economic outlook is improving. Bloomboth Chief UK economist

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Speaker 1: Dan Hansen says he's watching to see if their policies

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Speaker 1: can kickstart GDP.

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Speaker 4: What would really help the new government is to have

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Speaker 4: a few big flagship investments from international companies, international investors

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Speaker 4: that they can sort of hold up and say, look,

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Speaker 4: this is what we are delivering. Can bring in these

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Speaker 4: big multi billion pound investments, So that would be something

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Speaker 4: to really look out for over the next few weeks.

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Speaker 4: Who is investing, Who's making a commitment to the UK?

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Speaker 1: Dan Hansen from Bloomberg Economics estimates the spending plans the

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Speaker 1: new government is emharrassing already include a shortfall of twenty

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Speaker 1: billion pounds. In the US, Joe Biden's fourth of July

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Speaker 1: was overshadowed by pressure from some Democrats for the President

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Speaker 1: to drop his re election bid. So far, he's refused

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Speaker 1: to back down, and no prominent Democrats have publicly called

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Speaker 1: for him to do so, and Baxter has the latest.

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Speaker 5: The President himself has done a couple of talk shows

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Speaker 5: talking about the debate. Had a bad night, had a

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Speaker 5: bad night, and the fact of the matter is that

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Speaker 5: you know it was I screwed up and made a

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Speaker 5: mistake that on the Earl Ingram Show on Civic Media.

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Speaker 5: Representative Seth Bolton of Massachusetts has become the third House

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Speaker 5: Democrat to publicly call on the President to step out,

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Speaker 5: saying he has done enormous service of the country, but

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Speaker 5: now is the time for him to let new leaders

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Speaker 5: rise up. So how long will the party take to

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Speaker 5: make the final decision? Well, Charles Myers of Signum Global

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Speaker 5: Advisor says he feels just a few days.

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Speaker 6: Things are moving a little faster than I expected. I

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Speaker 6: thought they'd have a at least truth we were telling

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Speaker 6: our clients that have two or three weeks of polling

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Speaker 6: before they would have to make a decision. I thought,

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Speaker 6: this is a personal opinion, I think they've got probably

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Speaker 6: another five to six days. I think that things are

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Speaker 6: moving much faster against the president.

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Speaker 5: So far from a settled matter. Aed Baxter, Bloomberg Radio.

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Speaker 1: And Polling Projections suggests Marine Lepenn's National rally is set

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Speaker 1: to fall well short of an absolute majority in the

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Speaker 1: French legislative elections on Sunday. Based on four surveys, the

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Speaker 1: far right group and its allies are on course to

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Speaker 1: win up to two hundred and fifty seats in the

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Speaker 1: National Assembly. That would be significantly below the two hundred

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Speaker 1: and eighty nine. They would enable it to pass bills

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Speaker 1: easily and push through its agenda. That's news when you

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Speaker 1: want it with Bloomberg. Yes now, I'm James Wilcock. This

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Speaker 1: is laid back

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Speaker 6: M