Daily Briefing

Ron DeSantis and the debt ceiling talks are in the limelight in the US. Meanwhile, we report exclusively that a Russian hypersonic scientist stands accused of passing secrets to China.

Plus, the star-studded Cannes premiere of Wes Anderson's 'Asteroid City.'

By Edson Caldas

Today's Top News

Florida Governor Ron DeSantis speaks during the Florida Family Policy Council Annual Dinner Gala, in Orlando, Florida, May 20, 2023. REUTERS/Marco Bello

US NEWS

Florida Governor Ron DeSantis, whose impassioned battles over pandemic lockdowns and divisive cultural issues have endeared him to conservatives, will announce today he is seeking the Republican presidential nomination, placing him on a collision course with former President Donald Trump.
Representatives of President Joe Biden and congressional Republicans were expected to reconvene after another round of debt ceiling talks ended with no signs of progress as the deadline to raise the government's borrowing limit or risk default ticked closer. We have an explainer on how a default could hit regular Americans, and here is what US Treasury debt payments are at risk.

SINO-RUSSIAN RELATIONS

The director of a top Russian science institute, arrested on suspicion of treason along with two other hypersonic missile technology experts, stands accused of betraying secrets to China, two people familiar with the case told Reuters. How serious are the treason charges? Russia Breaking News Lead Writer Mark Trevelyan breaks it down on the Reuters World News podcast.
Separately, Russia's prime minister signed a set of agreements with China during a trip to Beijing, describing bilateral ties at an unprecedented high, despite disapproval from the West of their relationship. Prime Minister Mikhail Mishustin held talks with Chinese Premier Li Qiang and was due to meet with President Xi Jinping.

ELSEWHERE

A two-day incursion from Ukraine into Russia's western borderlands could force the Kremlin to divert troops from front lines as Kyiv prepares a major counteroffensive, and deal Moscow a psychological blow, according to military analysts. Meanwhile, the head of Russia's Wagner mercenary group warned that the country could face a revolution unless the elite got serious about the war.
Chinese hackers targeted Kenya's government in a widespread, years-long series of digital intrusions against key ministries and state institutions, according to three sources, cybersecurity research reports and Reuters' own analysis of technical data related to the hackings.
Supporters of Julian Assange said the campaign to release the Wikileaks founder is on the "cusp of success" after a diplomatic push by his country, Australia, which says he has been imprisoned for too long. Hundreds of supporters gathered in Sydney for a march that was originally planned to coincide with a visit by Biden, who cancelled his trip over the debt ceiling crisis.

Business & Markets

Britain's inflation rate fell by less than expected in April, according to official data that raised the chances of more interest rate hikes. Consumer prices rose by 8.7% in annual terms, down from 10.1% in March but still leaving Britain with the joint highest rate of inflation among G7 economies alongside Italy.
Britain's Competition and Markets Authority said it had provisionally found Citi, Deutsche Bank, HSBC, Morgan Stanley and Royal Bank of Canada allegedly broke UK competition law by exchanging sensitive information on government bond trading activities in one-to-one online chats.
Online fashion giant Shein is exploring plans to build a factory in Mexico, as one of its manufacturing hubs outside China, sources familiar with the matter told Reuters. The factory could shorten shipping time and cut distribution costs for customers in Latin America.
Target, which rolled out its Pride Collection at the start of May, is pulling some products from its stores after facing customer backlash, saying it was acting to protect employee safety. This year's collection has led to an increase in confrontations between customers and employees, a spokesperson said.

And Finally...

Wes Anderson and cast members Matt Dillon, Scarlett Johansson, Jason Schwartzman, Tom Hanks, Jeffrey Wright and Damien Bonnard pose in Cannes, May 23, 2023. REUTERS/Sarah Meyssonnier

A bus full of celebrities poured onto the Cannes Film Festival's red carpet last evening for the premiere of director Wes Anderson's new space-themed fable, "Asteroid City." As with his previous films, Anderson's cast is a veritable who's who list of Hollywood stars, including Jason Schwartzman, Scarlett Johansson, Tom Hanks, Steve Carrell, Bryan Cranston, Adrien Brody and Margot Robbie.

Read more here: Stars come out for Cannes premiere of 'Asteroid City'
And see more here: Memorable moments from the Cannes Film Festival

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