U.S.-China talks succeed with framework agreement

Squawk Box Europe Express

U.S. and Chinese trade delegates complete a late-night framework agreement in London to continue the trade truce between the world’s largest two economies. U.S. Commerce Secretary Howard Lutnick hailed the positive and constructive nature of the talks. UK Chancellor of the Exchequer, Rachel Reeves, is to set out $2tn in public spending as the government aims to stem haemorrhaging public opinion. The EU is reportedly ready to greenlight Italian lender Unicredit’s bid to buy up rival BPM. The move could place Brussels at loggerheads with Rome which has invoked its ‘golden powers’ rule that allows the government to impose conditions or exercise a veto over companies holding nationally strategic assets. French tech company Mistral AI unveils its first reasoning model which uses multiple languages.

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