Good morning. Nissan is seeking to raise more than $7 billion. Trump warns Putin he's "playing with fire." And SpaceX's Starship rocket is destroyed during a test flight. Listen to the day's top stories.
Nissan is aiming to raise more than $7 billion through debt and asset sales to meet major loan repayments next year, documents show. The UK may back a £1 billion syndicated loan while the automaker is considering selling part of its stakes in Renault and battery maker AESC. Here's a quick explainer on Nissan's downfall and how it can recover.
In markets, Japan's auction of 40-year government debt met demand that was the weakest since July, an outcome that risks fueling further volatility for global bonds. European and US equity futures turned negative while Asian stocks pared some gains. Nvidia earnings later today will help determine whether momentum can be revived.
Donald Trump warned that Vladimir Putin was "playing with fire" as the US weighs whether to target Russia with additional sanctions over its long-range missile and drone barrage against Ukraine.
Corporate roundup:Apple will launch a dedicated app for video games on its devices. Santander's new wealth consultancy services for super-rich clients are set to reach Miami, Switzerland and Brazil. And a trio of shareholders in Galderma spearheaded a flurry of stock sales involving European companies that may raise more than $4.13 billion combined.
The UK government said it would reduce planning hurdles faced by smaller housebuilders, as Prime Minister Keir Starmer seeks to deliver on his target of building 1.5 million new homes over five years.
Minor developments of up to nine homes will face simpler planning requirements and faster decision-making, while sites of between 10 and 49 homes will also face lower costs.
Some 92% of councilors say the housing shortage remains a crisis or has worsened in 2025, a survey showed.
The government would offer £100 million in "accelerator" loans and £10 million for councils to fund more specialists to speed up environmental assessments as part of its reforms.
Putin is neither a friend nor crazy, Marc Champion writes. He's a seasoned KGB agent trained in manipulating targets—and from his standpoint, operation Donald couldn't be going any better. The Kremlin's recent escalation is logical and, without a Trump U-turn, likely to succeed.
The SpaceX Starship rocket launches from Starbase, Texas on May 27. Photographer: Sergio Flores/AFP/Getty Images
SpaceX's colossal Starship rocket suffered a leak, tumbled out of control in space and disintegrated as it hurtled back to Earth during a test flight on Tuesday, in a third setback in a row for the Elon Musk-led company.
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