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dot UK slash podcast to learn more. Here's your midday brief for Friday, May 15th. I'm

Anthony Bansy for the Wall Street Journal. UK government bonds slid today as political pressure

builds on British Prime Minister

Kier Starmour. Benchmark UK borrowing costs have shot up to the highest levels since the 2008

financial crisis. Investors are betting that Starmor will face a formal leadership challenge by

the mayor of Greater Manchester, Andy Burnham. He's a left-wing politician and investors believe he would

increase government spending that could lead to higher budget deficits. The political uncertainty

of a leadership race also complicates growth prospects for the UK economy. Starbucks is laying

off 300 U.S. workers and closing some regional corporate offices. Retail

staff aren't affected by the reductions. Starbucks is aiming to cut $2 billion in costs by the end of

its 2028 fiscal year to offset its investment in its cafe operations. And Bill Akman's firm,

Pershing Square, has taken a new stake in Microsoft. It's

betting that Microsoft's artificial intelligence ambitions are undervalued. Akman says

Wall Street is underestimating the software giant's partnership with OpenAI, which he values

at approximately $200 billion.

Microsoft shares are down 15% this year.

The drop is part of a wider sell-off of software stocks.

...