There Is Only One Wes Streeting | Say what you want about UK politics, but there's no denying that they have some absolute characters on their roster. Just look at Health Secretary Wes Streeting, who Rosa Prince says might be Labour's "plan B" for prime minister: Youngish (43), gay, a cancer survivor, as his energetically promoted biography reveals, he was born to teenage parents in Stepney in East London. His "Grandad Pops" was a career criminal who knew the Kray twins. His grandmother became friendly with Christine Keeler, the woman at the center of the Profumo affair, while serving time in prison.
I … don't know where to begin? Perhaps with the fact that his grandma was palling around prison with the subject of a sex scandal that helped topple the Conservative government?? Or maybe the fact that his granddad was rubbing elbows with some of London's most prolific gangsters? In addition to the fascinating family tree, Rosa says his excellent verbal sparring acts as "a cheerful antidote" to Keir Starmer's robot persona.  Photographer: Chris Ratcliffe/Bloomberg "But an easygoing manner doesn't mean you're a natural PM," Rosa notes. Within Labour's ranks, she says some see Streeting "as almost too slick, too ambitious, not substantial enough. Do they really want the man who's first on and last off the dancefloor to go toe-to-toe with Vladimir Putin or Xi Jinping on Britain's behalf?" Hmmm. I suppose time will tell! If you're a regular Bloomberg reader, you've probably heard about Mrs. Watanabe: the affluent housewife who controls the family purse strings and dabbles in currency trading while her husband rots away at his nine-to-five. It's a stereotype that Gearoid Reidy says is well past its due date: "In Japan, as elsewhere, housewives are a near-extinct breed with most households dual-income. Perhaps it's time for a new face of FX investment. Step forward Kurumi, the pink-haired college student protagonist of a new anime based on retail-currency trading." She sounds cool! But there are actually very few young people in Japan involved in FX trading. Still, Gearoid hopes the anime — which doesn't air until later this year — could inspire a new generation to catch the trading itch.  Imagine if today's press conference was your first exposure to Fed Chair Jerome Powell. You'd think he only knows three words: "Nothing. For. You." Reporters went zero-for-three when asking him questions about political pressure on the Fed, his job plans come May and the dollar, which just experienced its worst day since April after Trump gave traders the green light to push the currency even lower. Despite Powell's silence, John Authers says there are "major economic ramifications" with the currency moves. "A weak dollar makes US exports more competitive, and imports more expensive — a key Trump 2.0 aim and a reason why he has advocated for a weaker dollar in the past." Enter, the Fed's perennial foe, inflation? Maybe: The CPI isn't super sensitive to import prices, but as economist Dave Sloan says, "a sliding USD does make the Fed's task a little harder." Congress must rein in Trump's reckless deportation campaign. — Bloomberg editorial board Should SpaceX investors start paying attention to astrology? — Matt Levine Finally, Starbucks' comeback story is more than just froth. — Beth Kowitt UPS will endure one more year of pain as it shrinks to become more profitable. — Thomas Black Luxury is back from the brink, but it still needs a proper turnaround in China. — Andrea Felsted Mexico is blowing its chance to capitalize on the interest of global investors. — Juan Pablo Spinetto Republican governors now realize the ICE crackdown puts them in political peril. —Mary Ellen Klas Asking for Minnesota voter data isn't law enforcement — it's coercion. — Barbara McQuade The app that's stealing TikTok's spotlight. Moms fight ICE with the group chat. Babies get sick on fancy formula. Ted Lasso is back? An explainer on house burping. Great white sharks grow a new kind of tooth. Canada is releasing the fleece. | 
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