Local elections 2025: What to look out for

Electoral system may throw up unexpected results, with voters seeming less driven by party differences
China signals opening for trade talks with US

State media message suggests softening of Beijing’s position, say analysts
Tesla board denies launching search for Musk’s successor

Chair Robyn Denholm says carmaker’s board remains ‘highly confident’ in chief executive’s leadership
Tories braced for losses as England votes in five-party race

Reform UK stands to make gains in councils and closely-fought Runcorn by-election
The battle over New York’s congestion toll

For all the controversy over the charge, the evidence so far is mostly positive
Goldman’s Waldron says US’s early trade deals to ‘serve as a template’

Wall Street executive expects investor focus to shift towards fiscal policy and the federal budget