Saturday, May 9, 2026

Politics

Labour Suffers Historic Collapse Across Britain

Britain's Labour Party has lost control of 25 English councils, been swept out of power in Wales for the first time in 27 years, and watched Reform UK seize over 1,300 seats in local elections. Senior Labour MPs are now openly pressuring Prime Minister Keir Starmer to set a departure timetable, in what looks like a coordinated internal push to force him out within a year. The SNP meanwhile won a fifth consecutive term in Scotland, with Reform and Labour tying for a distant second.

MarketStarmer out by December 31, 2026?49%

World

US Strikes Iranian Oil Tankers in Strait of Hormuz

US forces have struck two Iranian oil tankers in the Gulf of Oman, releasing Pentagon footage of the attacks as Washington waits for Tehran's response to a proposed ceasefire deal. The strikes come amid ongoing hostilities that have also seen Israel kill 31 people in southern Lebanon, including a rescue worker. Fighting has spilled into the Strait of Hormuz, one of the world's most critical oil shipping chokepoints.

MarketStrait of Hormuz traffic returns to normal by end of May?28%

Politics

Hungary Swears In New PM After Orbán Era Ends

Hungary is inaugurating Péter Magyar as prime minister, ending 16 years of Viktor Orbán's rule after Magyar's Tisza party won a landslide election nearly a month ago. The handover is being framed as a "regime change" — a charged phrase in a country that has spent years dismantling democratic norms under Orbán. Magyar's ascent represents one of the most dramatic political reversals in recent Central European history.

Health

Trump Expected to Fire FDA Commissioner Marty Makary

Donald Trump is reportedly planning to remove FDA Commissioner Marty Makary, who had clashed with anti-abortion advocates and represented the latest friction point between scientific leadership and political demands at the agency. The firing is not yet final but would continue a pattern of top health officials losing their posts under the current administration. Makary had only been confirmed as commissioner in early 2025.

Tech

General Motors Pays $12.75M for Selling Driver Location Data

General Motors has agreed to pay $12.75 million to settle California claims that it illegally sold hundreds of thousands of drivers' location and movement data to brokers — all while publicly promising it would never do so. California Attorney General Rob Bonta called out the company's "numerous statements reassuring drivers" as cover for a data-selling operation that exposed where people live, work, and travel. The settlement is one of the largest consumer privacy payouts tied to automotive data.