Good morning today is Friday July 5th. I'm Rina Sherball filling in for Julie Morgan.

U.S. markets were closed yesterday on account of July 4th, the U.S. Independence Day.

And as of today, 14 years of conservative rule have ended in the UK after the Labour Party

won the general election by a landslide, with Kieer Starmer becoming the new Prime Minister.

He's been given a major mandate with 408 seats out of 650 in Parliament,

picking up 209 seats in the latest vote according to the last exit polls.

With net debt nearly equivalent to annual economic output,

labor has pledged to plug a shortfall in public spending, but we'll need to find new funds

to turbocharge the economy and the national health care service.

It has also outlined supply side reforms like making infrastructure easier and cheaper to build,

as well as investing in green energy and a new deal for working people.

In terms of trade, Starmer has ruled out rejoining the EU Single Market

or Customs Union, though he will seek ways

to remove some of the trade barriers with the block.

Bitcoin slumped below 58,000 on Thursday for the first time since early May, on concerns of Mount Gocks, distributing a large amount of BTC to its creditors.

The German government also moved its stash of BTC to crypto exchanges.

Lucy Who, senior analyst at Meta-alpha, said,

among the top reasons for the price drop was the German government

moving more than 50 million to crypto exchanges, creating self speculation in the market.

Earlier in the day, BTC had also dropped below the 200-day moving average.

Honda Motor and Nissan Motor are in talks to jointly develop operating systems and other

automotive software in an effort to reduce costs,

...