Crypto News: Peace talks advance

Good morning. Iran cites “major progress” after all-night talks with the US. In the UK, another prime minister resigns. And in sports, we examine why the Chicago White Sox may be baseball’s best value. Listen to the day’s top stories.

— Marc Perrier

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Iran said all-night talks with the US made major progress as the two sides try to reach a peace deal within two months, even as Donald Trump again threatened military strikes. Pakistan, meanwhile, has sought to raise its diplomatic profile by playing a key role in the negotiations.

Oil fell on signs of progress in the talks, with the focus on restoring safe passage through the Strait of Hormuz. Millions of barrels of oil continued to flow through the waterway over the weekend despite Iran claiming that it had been closed. Here’s an explainer on why restoring traffic to normal won’t be easy.

Colombia elected Trump ally Abelardo de la Espriella as president by a razor-thin margin. The preliminary result was immediately challenged by outgoing President Gustavo Petro, a supporter of rival candidate Senator Iván Cepeda. The dispute echoes Peru’s election, where the leftist runner-up is trying to void all overseas votes in a deeply polarized race.

Trump Opponents See Opening to Make Corruption a Midterm Issue

Over in Britain, Keir Starmer resigned as prime minister, saying a new leader will be in place by September—the country’s fifth premier since 2022. The move paves the way for Andy Burnham to succeed him, after the long-time mayor of Manchester won a parliamentary seat last week to mount a challenge.

Deep Dive: Mortgage Playbook

Buyers have more ways to lower costs than many realize. Here’s a look at how to get a mortgage below 6% in 2026.

Look at new builds: Builders can offer below-market financing often because they subsidize rates through preferred or affiliated lenders rather than cutting the home’s sticker price.
Consider an ARM: For those with some risk tolerance, adjustable-rate mortgages can offer some temporary relief.
Assume a mortgage (if you can). Perhaps the hardest route is also the most tantalizing—taking over someone else’s mortgage with an already low rate.
Let them fight. There can be value in sticking with a lender you already know, but the best hack is also the simplest: comparison shopping.

The Big Take

Amundi CEO Valerie Baudson — Amundi Chief Executive Office Valerie Baudson.

Amundi became Europe’s largest asset manager with the help of acquisitions. Years without a major takeover, however, have allowed rivals to close the gap, putting its leadership at risk.

Big Take Podcast

What Shein Could Want With Everlane

Opinion

The war with Iran has shown the harm of overreliance on oil and gas, Michael Bloomberg writes. The crisis calls for the diversification of energy sources to help protect against the harms of climate change and economic disruptions.

More Opinions

Javier Blas

Europe Is Becoming a Little Too Addicted to American Gas

Lisa Jarvis

The E-Scooter Boom Is Putting Kids at Risk

Play Alphadots!

Our daily word puzzle with a plot twist.

Today’s clue is: It might announce merger plans?

Play now!

Before You Go

White Sox supporters — Before this season’s turnaround, the White Sox suffered three seasons with more than 100 losses.

White Sox executives have little control over what happens on the field. What they can influence is the fan experience—and after three straight 100-loss seasons, cheap tickets and cult-favorite giveaways have helped turn the team into one of baseball’s best bargains.

A Couple More

‘Toy Story 5’ Scores Hollywood’s Best Opening Weekend of 2026

Work From Home? For World Cup, Even JPMorgan Says Yes

Bloomberg Power Players - New York: Set against the backdrop of the US Open Tennis Championships, Bloomberg Power Players returns to New York on Sept. 10, bringing together the leaders shaping this global industry. From athletes and team owners to commissioners and investors, this event will gather the most influential voices for market-moving conversations on the multitrillion-dollar sports economy. Learn more here.