Bloomberg Daybreak: US Edition

On this special Labor Day Holiday edition of Bloomberg Daybreak - hosted by Nathan Hager we:  Update on where a planned mega takeover in the business world stands on the legal front. Bloomberg Intelligence Senior Litigation Analyst Jennifer Rie will update us on Paramount's planned 110 Billion dollar acquisition of Warner Brothers Discovery. Plus big tech in focus this week. Oracle reports earnings on Wednesday. We will have a preview of what's ahead for Larry Ellison's company with Bloomberg's Brody Ford in San Francisco. Also on Wednesday..Apple will hold its biggest product introduction of the year.. It will also help kick off the tenure of new Chief Executive Officer John Ternus. We hear more from Bloomberg's Mark Gurman See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the U.S CPI and PPI reports and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the next decision from the European Central Bank. In Asia – a look ahead to the 18th BRICS Summit in India. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US Vice President JD Vance downplayed the scope of the conflict in Iran, saying he would not describe it as “a war” given major combat operations ended months ago — even after a brief resumption of military strikes earlier in the week.2) Bloomberg Economics expects the unemployment rate to rise in August, and payroll gains to increase at a subpar pace. We see risks to our forecast tilted toward a higher unemployment rate and even lower payrolls.3) Anthropic PBC is set to finalize an expansion of its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm’s public filing for its highly anticipated IPO. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran have intensified tit-for-tat military strikes, with Iran hitting merchant vessels and the US striking Islamic Revolutionary Guard Corps sites. Iran said the US killed 18 people with its attacks, and vowed to punish Washington for a strike on a wedding ceremony that killed at least four people and injured 67. The conflict has led to a rise in energy prices, with Brent crude oil climbing more than 6% this week to $95 a barrel, and US pump prices for diesel at a four-year high.2) US retail diesel prices have hit the highest since mid-2022, topping a peak seen during the early stages of the Iran war. The national average pump price climbed to $5.783 a gallon on Wednesday, surpassing the wartime peak set in April, and is approaching the all-time high of $5.816 in June 2022. The surge in prices presents a political headache for President Donald Trump, as he contends with mounting cost-of-living concerns before November’s midterm elections.3) A disagreement between Chinese and US officials at a Group of 20 finance chiefs meeting revolved around a dispute over the phrase “non-market” in a sentence addressing trade imbalances. The US side attributed the impasse to disagreements on language spanning issues from critical minerals to debt restructuring, while Chinese officials saw the term as a veiled attack on state-owned companies. The final chair statement from the US included a line saying countries should agree to “eliminate non-market policies and practices that exacerbate imbalances,” which was opposed by China. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Fighting between the US and Iran over control of the Strait of Hormuz escalated, with Tehran accusing American forces of bombing a residential area in a wave of overnight strikes.The US military carried out its second round of attacks in three days, which US Central Command said targeted radar systems and mine-laying capabilities along Iran’s southern coast. This prompted the Islamic Republic to retaliate with drone and missile volleys on US bases across the Middle East, in line with tactics used throughout the six-month war.2) Three Massachusetts Democrats with more than 110 years of service in Congress between them held off much younger challengers in Tuesday’s primaries.Sen. Ed Markey, an outspoken progressive, trounced Rep. Seth Moulton, a more moderate candidate, by 65%-35% in nearly complete returns. Moulton, 47, ran an anti-establishment and generational-change campaign that tried to make the case that Markey, 80, shouldn’t be given another six-year Senate term he would finish at age 86. Markey said he was as invigorated as ever to stand up to the Trump administration.3) The selloff sweeping global bond markets looks painful, but it’s nothing compared with the rout four years ago, when soaring inflation forced central banks into a series of rapid-fire interest-rate hikes.The difference is scale. While the latest pullback has driven yields to multi-year highs in the world’s biggest markets, the move is just a fraction of the one seen in late 2022. Global government bond yields have risen 17 basis points on a rolling 20-day cumulative basis, compared with 62 basis points back then, data compiled by Bloomberg show. On a peak-to-trough basis, bonds have lost 4.2% this year — a far cry from the 23% plunge seen in 2022. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Donald Trump dismissed concerns that the conflict in Iran was draining American firepower as clashes resumed in the on-again off-again hostilities that have stretched more than six months, with neither side willing to restart negotiations to end the war.“This is a relatively little war for us,” Trump told reporters on Monday. “This is not a big war.”2) A woman randomly stabbed two people in New York City’s Times Square on Monday, killing one woman, and then was fatally shot by police, according to officials.The shooting happened just before 4:30 p.m. next to a New York Police Department substation, just outside One Times Square, the building that hosts the city’s annual New Year’s Eve ball drop celebration. It is one of the most heavily touristed and policed spots in all of New York.3) US Army Secretary Dan Driscoll is stepping down after repeated clashes with his boss, Pete Hegseth, leaving the service without several top leaders even as the conflict with Iran continues.Driscoll submitted his resignation to President Donald Trump, according to a person familiar with the matter who asked not to be identified. His decision was first reported by the Wall Street Journal. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran exchanged strikes as American forces hit an island in the Strait of Hormuz and Iran responded by launching attacks on the United Arab Emirates and Jordan. Iranian media said the country's authorities seized a bulk carrier near the port of Bandar Abbas and claimed an oil supertanker was hit by mines early on Monday. The incidents underline the high tensions between Washington and Tehran, with crude oil prices rising and several current and former US and Iranian officials expecting the conflict to drag on for months. 2) Bond investors are skeptical about speculation that Federal Reserve Chairman Kevin Warsh is poised to raise interest rates after his speech on Friday. Investors have doubts due to Warsh's past comments and actions, which have not always been clear, and are bracing for the risk that he keeps rates steady again. The reaction of the market will depend on upcoming economic data, including employment and inflation figures, with some investors warning that the Fed's credibility could be at risk if it does not follow through on expected rate hikes. 3) Nepal is racing to find thousands still missing after a glacial collapse unleashed catastrophic flooding along the border with China, with rising water levels and worsening weather threatening to hamper rescue efforts. More than 8,700 people have been rescued, with almost 20,000 security personnel mobilized, and at least 752 people have been confirmed dead, while over 3,000 are still unaccounted for. Rescue personnel have been told to exercise "utmost caution" as they work to retrieve bodies and provide relief services, with challenges mounting as days pass and weather conditions weigh on rescue efforts. See omnystudio.com/listener for privacy information.

Over the next two decades, more than $100 trillion will change hands in the greatest wealth transfer in history. This is a massive opportunity for financial advisors, both new and established. This conversation provides detailed, research-backed information and practical advice for financial advisors who are considering their next move. Produced by Bloomberg Media Studios and Prudential Financial, this roundtable discussion provides clear and honest perspectives on the changes that are coming. Guests on the show include:David Blanchett, Head of Retirement Research with Prudential Financial, and Portfolio Manager with PGIMBrittney Castro, CFP, AAMS, CRPC, Financial Expert and SpeakerChelsea Ransom-Cooper, Co-Founder and Chief Financial Planning Officer with Zenith Wealth PartnersMaggie Lake, Financial Journalist Research sources:Cerulli Associates: U.S. High-Net-Worth and Ultra-High-Net-Worth Markets, 2024Cerulli Associates: The Cerulli Edge, U.S. Retail Investor, 2023Alliance for Lifetime Income: Protected Retirement Income and Planning Study, 2024Prudential Communications: Global Retirement Pulse Survey, 2025 For more about this series visit us at:https://sponsored.bloomberg.com/media/prudential/the-great-client-transfer  See omnystudio.com/listener for privacy information.

Bloomberg Money is a new, weekly podcast focused on YOUR money. Listen for wealth strategies, retirement tips and a personal finance insights. Join Tom Keene and Scarlet Fu for new episodes every Friday.   Listen on Apple:  https://podcasts.apple.com/us/podcast/bloomberg-money/id6803227140     Listen on Spotify:  https://open.spotify.com/show/3lvzLLAZMdrxTB6y68Nb5g See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the August jobs report and a focus on 3 stocks for the week ahead. In the UK – a look ahead to state elections in eastern Germany. In Asia – a look ahead to South Korea inflation data. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Traders are looking for clarity on Federal Reserve Chair Kevin Warsh's economic outlook and strategy for bringing inflation back to target ahead of his address at Jackson Hole. Warsh’s address is shaping up as a crucial moment for markets as doubts about his commitment to taming inflation have helped push up long-term yields. The speech will be more significant for the foreign-exchange, gold and bond markets than for equities, according to Ulrich Urbahn, head of multi-asset strategy and research at Berenberg.2) Iran's top diplomat said resuming diplomacy with the US "isn't impossible" after "creative discussions" with Qatar. Foreign Minister Abbas Araghchi said progress "hinges on U.S. understanding of one simple fact: pressure doesn’t work" and called on Washington to build trust and uphold its commitments. The US remains hawkish in its public comments, with President Trump signaling he will not lift a blockade of Iranian ports just to restart talks.3) Nepal will need at least “a few billion dollars” to recover from the devastation caused by flash floods, according to Finance Minister Swarnim Wagle. At least 469 people have been confirmed dead and more than 1,500 people are missing across Nepal and China after flash floods wiped out bridges, roads and entire settlements. Multilateral institutions including World Bank and Asian Development Bank have committed funds for humanitarian needs, while neighboring countries including India and China have provided supplies and financial assistance. See omnystudio.com/listener for privacy information.

On today's podcast:1) Nvidia gave a bullish sales outlook for fiscal 2028, with Chief Financial Officer Colette Kress saying the company expects to grow revenue by approximately 70% in fiscal 2028. The company's second-quarter earnings report showed revenue of $96.2 billion, with profit of $2.22 a share, excluding certain items, and its data center division had revenue of $89 billion. Nvidia warned that margins would narrow in the coming months due to a surge in memory costs, but expects the measure to settle down to 72% to 73% in fiscal 2028 as the company increases its own prices.2) Central bankers gathering in Jackson Hole, Wyoming will emphasize a global rethink on inflation and the prospect of higher borrowing costs in the face of new threats. Faced with upward price pressures from the Iran war, the artificial intelligence investment boom and extreme weather, some central banks have already raised rates, with more expected to follow suit. Investors are increasingly jumpy over how the latest inflationary forces will combine with rising debt levels, and will be keen to hear from Fed Chairman Kevin Warsh, who has so far avoided a firm stance on tackling prices.3) Federal Reserve Governor Lisa Cook denied unproven mortgage fraud allegations repeated by President Trump. Cook's attorney Abbe Lowell called the allegations "unfounded and untrue" in a letter sent to the White House, stating that Cook has never committed mortgage fraud or any intentional wrongdoing. The White House did not have an immediate comment on Cook's letter, which comes after Trump narrowly lost his initial bid at the Supreme Court to oust Cook. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The Chinese government and Xi Jinping are sending a message of defiance to President Trump over China's economic ties with Iran. China will take "all necessary measures" to safeguard its interests, according to Foreign Ministry spokesperson Lin Jian, after the US sanctioned dozens of Chinese entities. China has thrown Tehran an economic lifeline as its biggest buyer of oil, and Xi appears in no rush to help Trump end a conflict that's pulling US resources from Asia. 2) The Trump administration is discussing additional trade penalties against Canada after Prime Minister Mark Carney unveiled dollar-for-dollar retaliation to new tariffs imposed by the US. Additional US escalation against Canada could include higher tariffs and other trade actions, according to a White House official. The Canadian government announced that it would double its existing counter-tariffs on US steel and aluminum products to 50% and apply new 50% duties to other US products, affecting $20 billion worth of annual US exports to Canada. 3) Wall Street is anticipating Nvidia's earnings for what they mean to artificial intelligence investors and the market itself. Nvidia is considered the best barometer for AI spending, and its earnings will help determine if hyperscalers are still accelerating or becoming more disciplined. Investors want to hear what Chief Executive Officer Jensen Huang has to say about capital spending, future demand, and new financing deals that involve Nvidia. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Treasury Secretary Scott Bessent’s threat to unleash an “economic D-Day” against Iran risks setting the US on a collision course with China, its main trading partner. Bessent promised an “economic onslaught against Iran’s financial connections around the globe” and unveiled dozens of new sanctions, but the main thrust was threatening secondary sanctions against companies and countries that continue doing business with Iran. China defended its cooperation with Iran and warned of potential retaliation, saying it will take all necessary measures to firmly safeguard its own interests, as the US effort to impose secondary sanctions risks expanding the economic disruption caused by the war against Iran.2) Canada's government will announce measures to "protect and support" its workers and businesses in response to US tariffs. Domestic measures will include expanded jobless benefits and loans for businesses affected by the tariffs. Canada plans to retaliate against the US tariffs, with Prime Minister Mark Carney saying "everything is on the table" regarding the country's response. US-Canada trade talks collapsed after Commerce Secretary Howard Lutnick applied last-minute pressure, leading President Donald Trump to impose new tariffs and Canadian Prime Minister Mark Carney to vow retaliation.3) Bitcoin climbed above $80,000 for the first time since mid-May as optimism returns to the crypto market amid bullish signals. The increase comes after Bitcoin rallied in the seven days through Sunday, and spot Bitcoin exchange-traded funds had their strongest weekly inflow in 10 months last week. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Prime Minister Mark Carney’s government sees little chance of resuming talks with President Donald Trump before the midterm elections after trade talks collapsed. Carney is designing a domestic aid package to help businesses hurt by US tariffs, which will remain in place for the duration of the conflict and throughout the rest of Trump’s term if need be. The US has said the path for talks is unclear, with US Trade Representative Jamieson Greer stating that they don’t have new talks planned with the Canadians and are moving forward with measures that respond to Canadian retaliation. 2) Iran’s oil shipments to Asia have all but dried up, driving the cost of those cargoes to the highest levels in years. A US blockade has left loaded Iranian vessels trapped inside the Persian Gulf and a fleet of empty ones stuck outside, resulting in a scarcity of oil in the region. Treasury Secretary Scott Bessent is due to unveil a plan for “the greatest coordinated economic isolation in the history of the world”, targeting Chinese refiners and the banks funding them. 3) Investors are looking for Fed Chair Kevin Warsh to clarify his views on how the US central bank should react to stubborn inflation when he speaks on Friday at the annual gathering in Jackson Hole, Wyoming. The chairman's communications strategy is off to a rocky start, and he's under pressure to give clearer guidance of how the Fed might react over the remainder of the year. Recent data have shown inflation, while still above the Fed's 2% goal, may be starting to cool, with economists estimating the PCE price index rose 3.6% in July from a year ago. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to Fed Chair Kevin Warsh’s speech in Jackson Hole and earnings from chip giant, Nvidia. In the UK – a look ahead to a key meeting of French business leaders as they count down to a pivotal Presidential election. In Asia – a look ahead to Tokyo inflation See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Oil headed for a substantial weekly gain, as a US push to isolate Iran’s economy raised the specter of further market disruption.Global crude benchmark Brent traded above $93 a barrel, on pace for a weekly advance of around 6%. West Texas Intermediate for October was near $86 a barrel following a five-session run of gains. 2) Treasury Secretary Scott Bessent said that he’s prepared to expand efforts to buy back costlier debt and that the administration will be unveiling a new fiscal initiative to address the highest borrowing costs in years. 3) Anthropic PBC expects to match or beat the size of SpaceX’s record-setting initial public offering, according to people familiar with the matter, in the latest sign of overwhelming demand from investors looking to profit from the artificial intelligence boom. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump announced plans to subject Iran to an “economic D-Day,” underscoring his rising frustration with Tehran’s refusal to capitulate despite military strikes and an American blockade targeting its oil exports. Trump didn’t specify what measures he would take, but his threat to target Iran’s trading partners, none of which he cited by name, put an immediate focus on China, which buys the bulk of Iran’s oil. Trump demanded that all countries cease providing Iran access to exchange houses, cash transfers, swap lines, ship registries, front companies and avenues to smuggle out its oil. He also sought to rally other nations that have so far declined to support his war on the Islamic Republic, saying the US needs all its allies to help “isolate, and defeat, the Iran threat.” 2) A tentative trade deal between the US and Canada would lower tariffs on certain Canadian exports of steel and aluminum to 25% and cut duties on Canadian auto exports to 15%, according to people familiar with the matter. The details have yet to be finalized and are not expected to apply across the board. For steel and aluminum, different rates could apply to some derivative products that include those metals, said some of the people, who requested anonymity to discuss terms of the agreement before it is announced. Tariffs on the non-US content in autos exported from Canada would be reduced to 15% from 25%, according to people familiar with the negotiations. Talks between US and Canadian trade advisers continued Wednesday, less than 24 hours after President Trump paused planned 50% levies on billions of dollars of Canadian goods to allow more time to negotiate. 3) Treasury Secretary Scott Bessent made a fresh attempt to rein-in long-term borrowing costs from multi-year highs, sending Treasury yields and the dollar down. Just two weeks after releasing its planned schedule for buybacks this quarter, the Treasury Department on Wednesday said it’s “increasing, by at least double, the size of liquidity support buyback operations” for securities dated from the 10-year to the 30-year sector. The bold intervention to stem a potentially damaging rise in US borrowing costs has some investors saying the dollar will ultimately pay the price. Some market participants see the move as a turning point, with Washington taking a more active role in keeping its borrowing costs down. Coming after other recent efforts to rein in long-term yields, it’s reviving a concern that US policy could weaken faith in the dollar and push investors toward alternatives. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Democratic Socialist Angie Nixon stormed to a surprise win in Florida’s US Senate primary, while Republican Representative Byron Donalds, backed by a $100 million war chest and President Donald Trump’s endorsement, cruised to victory in his gubernatorial primary. Nixon, a Black labor and political organizer from Jacksonville who has been a state lawmaker since 2020, defeated Alex Vindman by more than 10 percentage points, upending pre-election polling. Vindman, who rose to notoriety in Trump’s first administration by being a key witness in his first impeachment trial, had outraised Nixon by 16-to-1. Meantime, the race to replace two-term Governor Ron DeSantis will be fought between Donalds and David Jolly, a former Republican-turned-moderate Democrat. With registered Republicans outnumbering Democrats by more than 1.5 million people in Florida, Jolly will have to appeal to independent voters and hope that some Republicans stay home to deliver an upset.2) The Trump administration delayed 50% tariffs on billions of dollars of Canadian products for three days, saying the two sides had reached a tentative agreement to resolve a broader trade dispute that had plunged relations to a fresh low. President Trump announced the decision less than two hours before the tariffs were set to take effect. A White House proclamation later said the duties were halted after Canada “expressed a commitment to remove the discriminations” on US autos, dairy and alcohol. And the US Trade Representative’s office said the deal includes “comprehensive market access for all American goods, economic security commitments, digital trade alignment” and other factors, without giving specifics.3) President Trump insisted Tuesday that there were no talks ongoing with Iran, leaving the simmering conflict in the Middle East and control of the Strait of Hormuz stuck in limbo. The memorandum of understanding that the US and Iran signed in June in an effort to buy time to negotiate a lasting peace deal — as repeatedly violated as it had been during that 60-day window — has expired. There are no plans to extend it, leaving the status of Hormuz unresolved, with little traffic and Washington and Tehran still at odds over how the waterway should be managed. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said he won’t try to revive a stalled truce with Iran, leaving the simmering conflict in the Middle East and a tussle for control of the Strait of Hormuz stuck in limbo. A memorandum of understanding the US and Iran signed in June that gave them a 60-day window to negotiate a lasting peace deal technically expired Monday, and when Trump was asked if he would seek an extension, he replied: “No.” The ceasefire had been repeatedly violated in any event, with intermittent clashes continuing, and both sides had declared it defunct. Brent crude climbed Tuesday - by its highest level in more than three weeks - as prospects dimmed for a swift reopening of Hormuz, through which a fifth of the world’s oil and gas transited before the war. Trump is demanding that free passage through the waterway be restored, while Iran said it will govern traffic in conjunction with Oman. 2) Jared Kushner assured Prime Minister Benjamin Netanyahu that the Israeli army won’t be compelled to withdraw from Gaza until Hamas disarms, an official with knowledge of the talks said, a stance that will dim hopes for a Gaza peace deal anytime soon. Kushner met with Netanyahu in Jerusalem on Monday, a day after holding talks with a Hamas leader in Egypt. The US and Israel agreed there would be no Israel Defense Forces redeployment from Gaza until Hamas is fully disarmed and all of Gaza is demilitarized, according to the Board of Peace official, who asked not to be identified discussing private deliberations. Those conditions are likely to be rejected by Hamas, which has insisted that Israel withdraw from Gaza before it gives up its weapons.3) Chinese leader Xi Jinping will forgo a stop in New York to address the UN General Assembly during a trip to the US next month to meet President Donald Trump, Politico reported. Politico cited four people familiar with the matter whom it didn’t identify. Xi plans to visit the US for three days, meeting Trump on Sept. 24, one of the people said. There’d been speculation that Xi would join other world leaders at the UN meeting as part of his US visit. Trump invited Xi to visit during his trip to Beijing in May. The two sides used their spring summit to steady ties that had deteriorated over trade, tech, Taiwan and other issues. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Fighting between Israel and Iran-backed Hezbollah flared in Lebanon over the weekend, the latest setback in efforts to end parallel wars in the Middle East that have dragged on for almost six months and disrupted global markets.Israel’s military said Sunday that it killed Abu Hassan Alaa, a senior Hezbollah commander, in southern Lebanon a day earlier. Eleven people died in the Israeli strikes, which Prime Minister Benjamin Netanyahu said were in retaliation for an attack by the militant group that seriously injured three soldiers.2) President Donald Trump told the Pentagon to “substantially reduce” joint military exercises with South Korea and indicated his decision to do so was driven by frustration the longtime US ally hadn’t provided more support for his war with Iran.3) Hayden Panettiere, known for her roles on “Heroes” and in “Scream 4” and “Scream 6,” has died. Her rep confirmed her death to ABC News. A cause of death was not immediately known. “It is with profound sadness that we share the tragic passing of our beloved Hayden. She was an incredible light and a force of nature who brought immeasurable love and joy to all who knew her — and to the millions who watched her onscreen,” her rep told ABC. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to S housing data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to Europe inflation and PMI data. In Asia – a look ahead to why the persistent weakness of the yen is a troubling issue for Japan’s policymakers. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration’s effort to force Tehran’s capitulation after almost six months of war.2) The Trump administration is imposing tariffs of as much as 100% on imported drones and their components, escalating efforts to reduce US reliance on foreign suppliers and potentially accelerating a decoupling of drone supply chains with China.3) OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, according to people familiar with the matter, roughly doubling its run rate from the end of 2025 and bolstering the company’s plans for a Wall Street debut. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US military campaign against Iran has so far failed to force the regime to capitulate. The Trump administration is betting once again that suffocating economic pressure will do the job. Facing a shortfall of necessary munitions and wary of continuing an unpopular war, Trump and his top officials are returning to a familiar playbook with the regime: relying on a steady increase in economic sanctions and a naval blockade to stifle oil exports.2) The death toll from Colombia’s earthquake rose to 265 as President Abelardo de la Espriella moved to declare an economic emergency to confront the fallout from the strongest tremor to strike the country in 47 years. The 7.4-magnitude quake that struck Aug. 10 was the second strongest recorded in Colombian territory in the past century. Fatalities reached 265, with nearly 3,500 injured and 500 missing, De la Espriella said from the presidential palace in Bogota.3) Billionaire Mark Walter’s firm is in talks with investors to raise money to help pay down loans on the books of its insurers that had drawn scrutiny from the Justice Department, according to people familiar with the matter. TWG Global has approached multiple investment firms about a range of deals to raise cash, said the people, who asked not to be identified describing private discussions. The firm has been working on plans to address concerns about the outsize loans Walter’s insurers have made to other parts of his investment empire, and those efforts have ramped up in recent days, said some of the people. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Moderate Democrat David Crowley is projected to defeat Democratic Socialist Francesca Hong in Wisconsin’s primary for governor, an upset in a race that became a test of the party’s ideological direction. Crowley had 39.8% of the vote to Hong’s 39.38%, with more than 95% of the expected vote counted, according to Decision Desk HQ, which projected him to win the Democratic primary. The Associated Press also called the race for Crowley.2) President Donald Trump claimed the US had “total control over the Hormuz Strait,” as Washington and Tehran hardened their stances in deadlocked negotiations over the waterway. “We own it,” Trump told reporters at Joint Base Andrews outside Washington late Tuesday. “And at some point, maybe they’ll do something, and then they get blown away.”3) Global oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said. Oil markets face a shortfall of 1.8 million barrels a day as “renewed hostilities and maritime disruptions” undermine a production recovery, the IEA said in its monthly report. For 2026 as a whole, the deficit will likely be the widest in five years. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Donald Trump hardened his stance toward Iran as negotiations to reopen the Strait of Hormuz continue, pronouncing that the Islamic Republic must pay reparations for past attacks. Trump made his sweeping new demands on Monday after accusing Tehran of itself seeking compensation for war damages through public statements even though the issue had never been raised in negotiations.2) President Donald Trump renewed his administration’s efforts to dismantle the childhood vaccination schedule with a direct attack on the measles shot, returning to a politically unpopular issue and making unproven scientific claims just months ahead of the midterm elections.3) Intel Corp. raised $20 billion in an upsized share sale, a third more than it was targeting when it announced the deal Monday morning.The chipmaker priced the offering at $95 per share, according to a company statement. That represents a discount of 6.5% to Friday’s closing price, according to Bloomberg calculations. The share sale drew more than $100 billion in demand, people familiar with the matter said. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Trump said the US was only "semi-negotiating" with Tehran on the Strait of Hormuz, and that the US was "low keying it" as Iran faces huge inflation and no money. Iranian Supreme Leader Mojtaba Khamenei's military adviser Mohsen Rezaee was named the new leader of the Supreme National Security Council, replacing Mohammad Bagher Zolghadr, and has been an advocate for full Iranian control over Hormuz. Tehran published a list of demands for Washington as conditions for fully reopening Hormuz, including lifting the naval blockade, withdrawing forces, removing sanctions, and releasing frozen assets, which may be difficult for the US to meet alone.2) Israeli Prime Minister Benjamin Netanyahu rejected a proposal by US-backed mediators for disarming Hamas, saying "Israel does not accept the 15-point document." Netanyahu stated that the Israel Defense Forces will not carry out any withdrawal until Hamas is genuinely disarmed and it will continue to thwart threats against Israeli forces and citizens. The Board of Peace described the roadmap as its deal with Hamas, rather than with Israel, and said that nobody is required to do anything before verified steps are taken on the ground by the Palestinian cadres.3) The US Supreme Court has a reputation problem, with polls showing poor approval ratings and a record low support amid continued attacks on the institution from President Trump. A majority of Americans believe the justices tend to act for political reasons, not legal ones, which experts see as unhealthy and potentially dangerous. The court's reputation has been driven down by factors including a hyper-partisan confirmation process, polarizing decisions, and ethics controversies, leading to calls for Congress to impose term limits or expand the court. See omnystudio.com/listener for privacy information.

Our Town from Bloomberg’s Big Take podcast follows residents of Gainesboro, Tennessee, after a group of far-right Christians moves in with plans for a radical social experiment.Listen to Episode 1 on the Big Take. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with a focus on 3 stocks for the week ahead. In the UK – a look at some of Europe's biggest energy companies on their recent performance. In Asia – a look ahead to a monetary policy decision from the Reserve Bank of Australia. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran will seek to bar US and Israeli ships from the Strait of Hormuz and require compensation from hostile countries before they’re allowed to sail through it, according to local media reports on a proposed Iran-Oman deal to manage the crucial waterway. The agreement has become key to expectations for a reopening of Hormuz and a resumption of energy flows that have been throttled since the US and Israel attacked Iran in February.2) The Trump administration is actively considering issuing an executive order on vaccines and autism as soon as next week, according to people familiar with the matter. The effort is prompted by President Donald Trump’s interest in seeing additional action, according to the people, who asked not to be named to discuss internal deliberations. Options officials are discussing include research initiatives, encompassing both forward-looking studies and backward-looking analyses, the people said.3) The yen is heading into the end of the week having surrendered nearly half of its intervention-driven gains, fueling speculation among traders that authorities may step into the market again. The currency traded around 158.40 versus the dollar on Friday afternoon, well off the strong point of 155.23 reached on Monday. It had been near a four-decade nadir around 164 per dollar last week before the first joint yen-buying operation from Japan and the US since 1998. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran said it had reached an agreement with Oman on a proposed route for shipping through the Strait of Hormuz, a potential step toward a reopening of the critical waterway for energy supplies. A joint statement from Tehran and Muscat is under review and in the final drafting stage, with Iranian Foreign Ministry spokesman Esmail Baghaei saying negotiations between the two countries are “forward-moving” and a deal would be struck “if certain third parties do not obstruct this process." Iranian Deputy Foreign Minister Kazem Gharibabadi said Iran and Oman are negotiating a “temporary route” that would remain active for two to four months, with a significant portion of traffic passing through the Islamic Republic’s territorial waters.2) President Trump denied the US was running low on munitions, saying the country has “massive amounts” of them. Trump warned of punishment for those who say there’s a shortage, saying “leakers” of supposed “treasonous statements” are being pursued. The Pentagon’s request for emergency funding includes money to replace the US’s most advanced Patriot interceptors and other systems, amid concerns about weapons stockpiles.3) President accused Michigan Democrat Abdul El-Sayed of being a “communist” who “hates” Jews and Israel. El-Sayed has accused the Israeli government of carrying out a “genocide” during its war in Gaza, supports cutting off aid to Israel and has questioned its right to exist as a Jewish state. Trump said El-Sayed’s brand of politics would bring “filth, crime, death, destruction, embarrassment” and that El-Sayed is a “man of hate." See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.  On today's podcast:  1) Abdul El-Sayed is projected to win the Democratic US Senate primary in Michigan, according to NBC, defeating Representative Haley Stevens. El-Sayed will face off against Republican Mike Rogers in the general election. Polls had forecast El-Sayed with as much as a double-digit lead over Stevens. Even with the narrower-than-projected result, El-Sayed’s win portends both a reckoning within the Democratic Party as well as smouldering ideological fissures with the Nov. 3 election looming. The 2026 Democratic primary season has been marked by the intra-party squabble between centrists and progressives over the party’s direction.  2) Oil erased a decline as Yemen's Houthi militant group issued a fresh threat against Middle East shipping, tempering optimism over US-Iran talks. Houthi spokesperson Yahya Saree said the group would escalate attacks on Saudi vessels in the northern Red Sea — a key workaround route during disruption in the Strait of Hormuz. It comes as the prospect of an interim deal focused on the Strait of Hormuz gained traction after Qatar said a proposal had been drafted and both American and Iranian officials sounded hopeful about reopening the crucial waterway.  3) SpaceX stock fell after it disclosed higher-than-expected spending on its artificial intelligence business, dampening an inaugural quarterly report that broadly surpassed Wall Street forecasts. SpaceX reported revenue of $7.8 billion, greater than the $6.81 billion analysts estimated on average, and said it lost 9 cents a share for the quarter, less than the 24-cent loss analysts forecast. Musk told analysts that he expects the cadence of AI development to improve dramatically and that SpaceX would reach a $100 billion annual run-rate revenue by year’s end, which is higher than the $38.6 billion forecast by analysts. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Oil rose after its biggest drop in a week, as President Trump said his latest offer of talks is Tehran’s “last chance” and that he expects a full reopening of the Strait of Hormuz. Tehran denied it was talking with the US, but said discussions with Oman to get more ships moving through Hormuz are making progress, with an adviser to Iran’s Supreme Leader saying Washington must “take the first step and change its behavior." Commodity flows through the Strait of Hormuz have slowed to a trickle, with a cargo vessel northeast of Al Khasab, Oman, broadcasting that it had been hit by an unknown projectile on Monday.2) Acting Attorney General Todd Blanche shared documents on social media that seemed to clear a major hurdle to the top job, but drew skeptical reactions from former Justice Department officials and administration critics. The documents addressed concerns about a $1.8 billion fund for alleged victims of government “weaponization” and immunity for President Trump, his family members and the Trump Organization from audits of past tax filings, but the original documents that sparked bipartisan outrage remain unchanged. Critics say the latest documents do not have much permanent legal effect and that the door is open for officials, Trump, or others in his orbit to try to enforce the terms in the future.3) Michigan's Senate primary today will serve as a litmus test of whether the Democrats' progressive wing can win in a presidential battleground state. The primary pits Representative Haley Stevens, a moderate, against progressive Abdul El-Sayed, with Black voters being central to the case. A win by El-Sayed would vault him into national prominence, but a defeat would spark questions about whether progressives can win outside of deeply Democratic areas. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran suggested negotiations to get more ships moving through the Strait of Hormuz are making progress, after President Donald Trump called off what he said was a major attack on the Islamic Republic. Oil fell on Monday, with Brent crude down about 4.5% to just over $83 a barrel, after Iran’s foreign minister, Abbas Araghchi, said discussions between Tehran and Oman over management of the strait are in the final stages. Trump said Sunday that a deal to open the waterway may be close and that new unspecified talks with Iran would begin on Monday. 2) Stocks and bonds rose as the latest sign of easing tensions between the US and Iran pushed oil prices lower, allaying concerns about faster inflation. S&P 500 futures added 0.5%, signaling a positive start to a week awash with key economic data and corporate earnings. Brent crude slid as much as 7.3% to $81.55 a barrel after President Donald Trump called off a planned attack on Iran. Treasuries rose across the curve, with the benchmark 10-year yield dropping four basis points to 4.69%. 3) The US and Japan’s first joint action on the yen in 15 years, with warnings they won’t “hesitate” to move again, has underscored their unprecedented determination to defend the Asian currency. It’s still unclear how much Washington spent to help lift the yen from its four-decade low. But the currency’s rebound points at interventions larger than in 1998 and 2011, when US contributions didn’t surpass the $1 billion mark. Japan alone is estimated to have spent $53 billion on Thursday — a likely single-day record. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the July jobs report in the U.S with a focus on 3 stocks for the week ahead. In the UK – a look ahead to some of the most consequential earnings releases of the year in Europe. In Asia – a look ahead to key economic data for Vietnam in the week ahead, including numbers on consumer prices and trade. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) A rebound in global chipmakers carried into Friday, buoying stocks to end a month that saw a steep derating in this year’s most popular trade on a positive note. South Korean stocks surged on Friday, with the benchmark Kospi index rising a record 18% and chip heavyweights SK Hynix Inc. and Samsung Electronics Co. climbing 30% and 27%, respectively. The rebound was fueled by positive factors, including bullish reports on the artificial intelligence buildout overseas and a pledge of regulatory support from the government. 2) Amazon shares jumped after the company reported cloud-computing revenue accelerated for a fifth straight quarter, easing investors’ concerns that it won’t produce a return on huge expenditures to meet the booming demand for artificial intelligence. Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated. 3) The yen lost more than half of its intervention-driven gains on Friday as the Bank of Japan kept interest rates steady and Governor Kazuo Ueda offered little fresh support for the currency. Japan’s currency weakened as much as 0.9% to 160.88 per dollar on Friday after advancing as much as 3.3% versus the dollar in New York trading on Thursday. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US retaliated against Iranian strikes on American forces with a fresh wave of attacks, escalating a conflict that is spreading wider across the Middle East. The US hit dozens of targets in a two-hour operation aimed at degrading Tehran’s ability to threaten American forces, its Arab allies and commercial shipping in the region. Two liquefied-natural-gas vessels were hit by projectiles on Egypt’s Mediterranean coast and caught fire, with a security firm saying the vessels had been struck by drones. 2) Investors dumped 30-year Treasury bonds, sending the yield up as much as 14 basis points to nearly 5.23%, after the Fed kept interest rates unchanged for a seventh consecutive month. Market measures of inflation expectations rose, the dollar slid, and stocks tumbled as investors wagered Chairman Kevin Warsh was only delaying an inevitable rate hike. 3) Meta gave a disappointing quarterly revenue forecast, stepping up pressure on Chief Executive Officer Mark Zuckerberg to allay investor concerns that the company isn’t swiftly benefiting from its massive outlay on artificial intelligence. The social media giant reported the lowest free cash flow in years, a sign of ballooning expenses for AI bets, including data centers and smart glasses, which could amount to $145 billion this year. Meanwhile, Microsoft's Azure cloud revenue rose 43% during the fiscal fourth quarter, the fastest quarterly growth since early 2022. CFO Amy Hood said she expected growth in the cloud unit to accelerate further in the current quarter, to about 45%, and that demand continues to exceed available supply. See omnystudio.com/listener for privacy information.

Listen for instant reaction and analysis of megacap tech earnings from Meta, Microsoft and Qualcomm.  Meta Platforms gave a disappointing revenue forecast for the current quarter, intensifying investor concerns about the social media giant’s unprecedented spending on artificial intelligence and sending shares lower afterhours. Microsoft’s cloud unit grew at the fastest pace in four years, suggesting that the company’s computing infrastructure and artificial intelligence services continue to make inroads with businesses. Shares of Microsoft rose in extended trading. Qualcomm, the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. The company’s stock fell afterhours.  To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:  Ed Ludlow, Host, Bloomberg Tech Mandeep Singh, Global Head of Technology Research, Bloomberg Intelligence See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran fired on American forces overnight and the US and Saudi Arabia struck Tehran-backed militias in Iraq, abruptly ending a days-long lull in hostilities.The US and Iran had paused attacks at the end of last week to give diplomacy another chance, leading to a significant drop in energy prices. 2) Oil surged as a fresh round of fighting erupted across the Middle East, threatening further disruptions to energy flows and severely undermining diplomatic efforts to end the months-old conflict.Brent climbed almost 4% to above $87 a barrel, paring some of the 16% loss over the past three sessions that was its biggest such decline since 2020. Since the start of July, the benchmark has traded in range of almost $32. 3) US stocks edged higher as traders held off on major bets ahead of a US interest-rate decision where markets see room for a hike and earnings from two of the world’s biggest spenders on artificial intelligence.S&P 500 futures rose 0.2%. Nasdaq 100 contracts were flat after a selloff in chipmakers left the underlying index on the brink of a technical correction. Treasuries stalled after three days of gains, with traders assigning about a 30% chance of a Federal Reserve rate increase. The dollar barely budged. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran extended their pause in hostilities, with the focus turning to talks between Tehran and Oman over restarting traffic in the Strait of Hormuz.Omani and Iranian negotiators met in Tehran over the weekend and discussions are ongoing, according to people familiar with the situation, asking not to be identified referring to sensitive matters. A deal to get ships moving through the waterway more frequently would enable the Islamic Republic and the US to resume formal negotiations about Tehran’s nuclear program and permanently ending their five-month war, the people said. 2) A selloff in semiconductor stocks deepened as signs of progress in China’s advanced chipmaking compounded worries about the sustainability of the artificial intelligence spending boom.US technology-heavy Nasdaq 100 futures fell 0.6%, while in Asia, a 7.5% slump put a Bloomberg gauge of semiconductor shares on course for its biggest decline since April 2025. 3) Taiwanese prosecutors detained an Nvidia Corp. employee as part of a probe into the alleged smuggling of AI chips into China, thrusting the US company into a high-profile case concerning the black market for its products.Local investigators searched the home of the staffer and his desk at Nvidia’s Taipei office on July 24, according to people familiar with the matter. The courts later granted prosecutors’ request to detain the person on allegations of forgery and breach of trust, the people said, asking not to be named as the employee’s identity isn’t public. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran held off attacks on one another for a third straight night, helping lift global stock and bond markets and push down oil prices. President Trump is giving diplomacy “some space,” according to Mike Waltz, Washington’s ambassador to the United Nations, after Trump threatened to step up attacks in Iran. Iran’s army says it has halted its retaliation against US bases and troops in the region as a result of Trump’s decision to hold off on strikes, but tensions between the warring sides remain high. 2) Three people were killed and at least five others injured in a shooting at a food festival near Seattle’s Space Needle landmark on Sunday. Seattle police are investigating and advised people to avoid the area, with one suspect taken into custody and another suspect remaining at large. The shooting happened during the Bite of Seattle festival, with police believing that two people were shooting at each other and asking witnesses to come forward with information. 3) Nvidia will invest $1 billion in Naver Corp. to help finance an AI data center under construction in South Korea. Nvidia is teaming up with SK Group to build more than 2 gigawatts of AI data centers on the Korean Peninsula. It comes amid a Wall Street Journal report that the company is in talks to provide a roughly $250 billion backstop for OpenAI as part of a massive data center project. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the next decision from the Federal Reserve and a preview of three tech stocks for the week ahead. In the UK – a look ahead to the next monetary policy decision from the Bank of England. In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) President Trump said he’s considering a “massive attack” on Iran to push the nation to negotiate a peace deal. The president told Axios that Iran isn’t ready to make a deal and “they haven’t received enough pain yet,” and that he was “close to making a decision” on attacks that would be “bigger than ever before.” The US has launched strikes intended to degrade Iran’s ability to attack commercial shipping in Hormuz, and Trump has threatened “major military punishment” on Iran and the Houthi militant group it backs in Yemen if they target commercial ships.   2) President Trump is rebuilding his tariff strategy with new levies on 60 economies. The US will collect duties of between 10% and 12.5% on imports from most major trading partners, following an investigation into the alleged failure of around 60 economies to prevent forced labor in their supply chains. Goods from some trading partners deemed to have adopted forced-labor restrictions will be subject to 10% tariffs, including Mexico, the UK, Canada and India, while duties on items from the European Union and Taiwan won’t exceed 10%. The rates under the new authority took effect Friday at 12:01 a.m. New York time, with certain exemptions, such as for products that can’t be produced in the US or where tariffs would cause economy-wide disruptions.   3) Intel delivered a revenue forecast that shattered Wall Street estimates, indicating that booming data center spending is helping fuel a long-awaited turnaround. Sales will be $15.8 billion to $16.8 billion in the third quarter, with the low end of that range easily clearing the $15.1 billion average analyst estimate. The outlook underscores Intel’s gains with data center customers, which are clamoring for chips to satisfy demand for artificial intelligence computing, with sales in that segment soaring 59% last quarter. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) The Iran-backed Houthis claimed their first attack on commercial ships in recent months, targeting two Saudi Arabian oil tankers in the Red Sea with missiles and drones. The Saudi government confirmed an attack on one refined-products tanker, called the Encelia, and the British navy said a tanker was struck by a projectile near the Saudi town of Al Shuqaiq. The move could effectively close another maritime chokepoint vital to energy markets, following Iran’s shutdown of the Strait of Hormuz, and oil prices are rising and Brent crude jumping.   2) Alphabet raised its capital spending forecast to a range of $195 billion to $205 billion this year, up from a previous forecast of $190 billion. The company's quarterly cash flow was negative for the first time since going public, with negative free cash flow of $5.9 billion in the period, and its cloud revenue totaled $24.77 billion, up 82% from a year earlier. Alphabet's cloud backlog grew to $514 billion, with over half expected to convert to revenue within 24 months, and the company's net income was $9.11 a share, well above Wall Street's forecasts.   3) Tesla's profit tumbled despite a strong quarter for its automotive business, pressuring Elon Musk's plan to refocus the electric-vehicle maker on artificial intelligence and robots. Spending on ambitious initiatives surged to $5.8 billion in the second quarter, resulting in Tesla's first cash burn in two years, and the company still expects capital expenditures in excess of $25 billion this year. Tesla's shares were down about 5% in pre-market trading in New York on Thursday, after the company reported adjusted earnings that fell short of analyst estimates and negative free cash flow of $1.09 billion.Eric Mollo See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US widened the scope of its airstrikes on Iran overnight, striking a military site near the north-western city of Tabriz. The Iranian government activated air defenses in Tehran and the US struck other areas, with Iran firing on US bases in Kuwait, Bahrain and Jordan. There are no negotiations between the US and Iran, with a spokesman for the Iranian ministry saying "our new message is that the enemy violated the memorandum and should implement it."2) President Trump said generic drug manufacturers must move production to the US or face a 100% import duty from August 2028. The move aims at “reshoring” generic pharmaceutical production in the US, with companies that don’t build plants onshore facing levies that would then double, to 200%, in August 2029. The planned tariffs would raise costs for manufacturers, risking higher prices and potential shortages for generic treatments that account for more than 90% of US prescriptions.3) New Jersey Governor Mikie Sherrill said about 6,600 people who identified themselves as noncitizens were registered to vote due to a software error in the state’s motor vehicle system. The applicants answered “no” when asked on a keypad whether they were US citizens while applying for driver’s licenses and identification cards, but the system registered them anyway. A preliminary analysis found that fewer than 400 of the people who were registered cast ballots, and they were registered as Democrats, Republicans and unaffiliated voters, and were spread across the state. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran exchanged strikes for a 10th consecutive day as mediators sought to revive a truce, with the US targeting military command centers and Iran attacking US military sites in Kuwait and Jordan. The Houthi militant group in Yemen threatened shipping in the Red Sea, and the Saudi-led coalition said it is taking steps to protect ships sailing in the area. Oil prices have surged and US retail gasoline prices have climbed back over $4 a gallon, potentially hurting Trump and his Republican Party before midterm elections.2) The Trump administration vowed to impose a fresh 50% tariff on some Canadian goods over what it said was unfair treatment of American alcohol, cars and dairy. The items subject to the new tariff include milk, hockey equipment, beer and plywood — but not major resource imports such as energy, potash and critical minerals. The tariffs are being applied under Section 338 of the 1930 Tariff Act, which gives the president the power to impose duties of as much as 50% on countries deemed to discriminate against US commerce.3) President Trump said he had a “very good conversation” with new UK Prime Minister Andy Burnham and that they would be meeting in the “not too distant future." Trump and Burnham discussed many subjects, including the outstanding relationship between the US and the UK, North Sea oil, trade, and demining the Strait of Hormuz. Burnham's office said the prime minister congratulated Trump on the World Cup tournament and invited the president to visit Manchester in one of his first calls as UK leader. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US conducted a ninth straight day of airstrikes on Iran, targeting military targets and communications networks. Iran continued to attack US bases in several countries, and the standoff shows no sign of easing, with Iran refusing to relent over the Strait of Hormuz. The US-Iran interim peace deal has all but collapsed, and talks over Tehran's nuclear program and a permanent cessation of hostilities have stalled.2) Andy Burnham is set to become the UK's prime minister with numerous outstanding questions about his cabinet and policy direction. Burnham will pledge to deliver improvements in people's lives and set out his domestic priorities, concluding with a "message of optimism" about Britain's future. The incoming leader will inherit a range of challenging issues, including immigration, welfare, productivity, and social care, as well as navigating global relationships, including with US President Donald Trump.3) Spain won its second World Cup title, defeating Lionel Messi’s Argentina 1-0 in extra time. The World Cup has been a commercial success, with FIFA increasing its four-year revenue expectations by about $2 billion and more than 15 million people attending stadiums and fan festival areas. The tournament was marred by controversy, including President Donald Trump's intervention on behalf of a suspended American player, which led to criticism of FIFA's obsession with money and power. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to new home sales data with a focus on three stocks for the week ahead. In the UK – a look ahead to the UK preparing to usher in its 7th Prime Minister in 10 years. In Asia – a look ahead to Japan Marine Day. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Donald Trump accused China of interfering with US elections in 2020, threatening to upend ties with the world’s second-biggest economy as he focuses on securing a victory in the midterms in November.2) Concerns are growing that the US and Iran will intensify hostilities, with the sides clashing for a sixth straight day and Tehran refusing to back down over the Strait of Hormuz. The US hit southern Iran overnight, widening the scope of its targets by striking six road bridges, according to Iranian state media. There were separate reports of attacks on the southern town of Bushehr, which houses the country’s only nuclear power plant, and the western province of Lorestan.3) SpaceX said it will aim to launch its Starship rocket again in a few days after aborting Thursday’s mission when some of its engines didn’t fire up, sending shares lower.Starship was slated to take off on its 13th major mission from SpaceX’s South Texas launch facility, called Starbase, at 5:45 p.m. local time. But right at the planned liftoff time, plumes of smoke erupted from the launch tower, and the rocket remained in place. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US struck Iran for a fifth straight day and hit a sanctioned oil tanker near the country's main export terminal. Iran responded to the US's barrage by firing upon American bases in Kuwait and Jordan, with the Jordanian government intercepting eight missiles. The US and Iran accuse each other of breaching the terms of a memorandum of understanding, which was meant to reopen the Strait of Hormuz but worded ambiguously as to how fast that would happen. It comes as Fatih Birol, the Executive Director of the International Energy Agency, says the global economy faces a renewed challenge if the conflict that's choked the Strait of Hormuz isn't resolved in a matter of weeks. 2) Acting Attorney General Todd Blanche told senators he would support legislation to foreclose the creation of a $1.8 billion government weaponization fund. Blanche committed to helping craft the legislation during a hearing before the Senate Judiciary Committee on his nomination to be attorney general. Senators questioned whether Blanche can operate independently from President Trump, who he previously represented in criminal cases while in private practice.3) Federal Reserve Chairman Kevin Warsh said that President Trump hasn’t tried to interfere with the central bank. Warsh stated that he would continue to do his job independently, even if Trump tried to influence the conduct of monetary policy. Trump reiterated his view that he would like to see interest rates go down, saying he would like the country to have the lowest rate anywhere in the world.  See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said he would intensify the US's bombardment against Iran until it stops attacking ships in the Strait of Hormuz and agrees to open the waterway. A US-Iran interim peace deal signed around a month ago has all but collapsed over the past week as the two sides feud over control of the vital strait. Trump pledged to bomb Iran again and continue until Iran relents, saying energy targets in Iran will be left "for last".2) The Department of Homeland Security has ordered immigration agents to temporarily halt most vehicle stops during deportation operations after a fatal shooting in Maine. US Immigration and Customs Enforcement agents will suspend vehicle stops except for those targeting serious criminal cases until ICE officers receive new training on vehicle stops. The policy change comes after the second fatal shooting by immigration agents in a week, with the first being the fatal shooting of a Mexican construction worker during a traffic stop in Houston.3) Acting Attorney General Todd Blanche is set to appear before the US Senate in support of his nomination to lead the Justice Department. A federal judge in Miami issued harsh criticism of Blanche's actions in settling President Donald Trump's lawsuit against the Internal Revenue Service, suggesting his involvement raised conflict of interest concerns. The Justice Department's settlement with the president has faced rare GOP pushback, and Blanche is expected to be grilled about the settlement and other politically explosive matters during his nomination hearing. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump reinstated the US blockade of Iranian ships transiting the Strait of Hormuz and demanded a 20% reimbursement for all other cargo shipped through the waterway. US military forces will resume blockading traffic to and from Iranian ports and coastal areas, and the president said the strait "will remain OPEN, with or without Iran." Iran sees any challenge to its authority in the strait as a breach of the interim peace agreement, and the renewed blockade may prompt further attacks on commercial vessels.2) South Carolina Governor Henry McMaster picked Darline Graham Nordone to complete the remainder of the late Senator Lindsey Graham’s term, which expires in January. Nordone will serve out the remainder of the term and is seen by many analysts as a placeholder until voters elect a more seasoned candidate. Nordone said she promises to work hard to support the president and carry forward the efforts of her brother, and will be sworn in on Tuesday afternoon.3) A US immigration officer shot and killed a person in Maine on Monday morning, according to the Department of Homeland Security. The incident occurred in Biddeford, where ICE agents attempted to stop a vehicle that departed from the last known residence of an individual who had received a deportation order. The officer has been placed on leave and the Maine Attorney General's office is investigating the shooting with assistance from state, local and federal authorities. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran exchanged fresh strikes overnight into Monday as they continued their tit-for-tat attacks while issuing conflicting declarations over whether the Strait of Hormuz was open to shipping. US Central Command said American forces carried out a new round of attacks to degrade Iran’s ability to threaten shipping in the narrow waterway, hitting dozens of targets including Iranian air-defense systems and missile capabilities. Tehran retaliated with attacks on US allies in the Persian Gulf and beyond, targeting US bases in Kuwait, Bahrain and Jordan, and oil prices rose on fears that renewed clashes could further disrupt flows through Hormuz.2) The death of Senator Lindsey Graham leaves key US allies like Ukraine without one of their most effective conduits to the White House. Graham had spent much of President Trump’s second term trying to sustain US support for Ukraine’s defense against a Russian invasion, despite the US president’s testy relationship with Ukrainian President Volodymyr Zelenskyy. Ukraine and other US allies will have to find other advocates, which won’t be easy, as Graham had honed a unique skill set, combining a close relationship to Trump, the ability to work with Senate Democrats and deep ties with foreign leaders.3) South Korea’s AI-fueled stock rally came under renewed pressure Monday as SK Hynix Inc. tumbled by a record 15%, underscoring growing investor concerns that the boom had become overstretched. The selloff sent the benchmark Kospi index down 9% and triggered a market-wide trading suspension, with peer Samsung Electronics Co. dropping nearly 11% and foreign investors offloading 1.7 trillion won worth of Kospi shares. SK Hynix’s market cap closed the day at $875 billion, with the company’s shares down at least 30% from peaks last month, as the excitement that powered the rally gives way to a much harsher reset in expectations. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with a focus on three stocks for the week ahead. In the UK – a look ahead to what lays ahead for the European Central Bank as it grapples with a uncertain inflation landscape. In Asia – a look ahead to South Korea’s Constitution Day. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Talks between the US and Iran over a permanent peace deal are continuing, according to an American official, despite clashes that threatened to shatter an already fragile ceasefire. The US is still committed to finding a diplomatic solution with Iran, with ongoing discussions described as technical talks, aiming to agree a permanent peace by around mid-August. The US and Iran are trying to resolve issues including the Islamic Republic's nuclear program, with the US seeking a moratorium on Iran enriching uranium and the relinquishment of existing stocks of near-bomb grade uranium.2) President Trump fired two Democratic members of the US Election Assistance Commission, and the Republican member resigned, according to a White House official. The commission's bipartisan mission is to help election officials improve the administration of elections and help Americans participate in the voting process, as stated on its website. The terminations were called "deeply concerning" by Michael Waldman, president of the Brennan Center for Justice, who said they leave the agency without leadership and unable to carry out its major responsibilities.3) SK Hynix's US debut is paving the way for a fresh wave of leveraged products tied to the South Korean memory giant's shares. At least half a dozen products will launch next week, delivering two times the daily return of SK Hynix's American depositary receipts, with some preparing inverse wagers. The emergence of leveraged ETFs is not viewed as a healthy sign as it may be indicative of late-cycle retail behavior and could fuel already heightened volatility. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US military struck Iran for a second day, hitting about 90 targets to further degrade the Islamic Republic’s ability to attack commercial shipping in the Strait of Hormuz. Iran responded by targeting US bases in Bahrain, Kuwait and Qatar, according to the semi-official Iranian Students’ News Agency. The attacks raise fears that the tit-for-tat attacks may derail talks on a permanent peace deal, with the US and Iran having accused each other of violating a memorandum of understanding that established a short-term truce.2) Graham Platner suspended his US Senate campaign in Maine following a sexual assault allegation that caused his support from fellow Democrats to collapse. The Maine Democratic Party will hold a nominating convention to choose a new nominee if there is a vacancy to fill, with the process to replace Platner needing to play out before a July 27 deadline. The race to replace Senator Susan Collins is considered essential to the Democratic party's chances of taking control of the Senate, with several potential candidates taking steps to prepare for a run.3) SK Hynix's US listing is more than seven times oversubscribed, according to people familiar with the matter, underscoring strong investor appetite despite recent volatility in the Korean memory chipmaker's shares. The sale of 177.9 million American depositary receipts has attracted demand from institutional investors including global long-only funds and sovereign wealth funds, some of the people said. The offering would raise about $24.5 billion, according to Bloomberg calculations, and would rank among the largest ever debuts in the US by a foreign company, second only to Alibaba Group Holding Ltd.'s $25 billion debut. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said his tentative ceasefire with Iran is done, raising the prospect of a renewed military conflict between the two countries. Trump's remarks came after the US launched a new wave of strikes against Iran and revoked a waiver that allowed the sale of Iranian oil, in response to recent attacks on ships transiting the Strait of Hormuz. The developments marked the most serious threat to the interim peace deal, with the US blaming Iran for the attacks on shipping, and Tehran saying the military strikes and waiver revocation violated the agreement between the two countries.2) New York City officials were racing to stabilize a high-rise building in Manhattan after cracks developed in multiple columns and floors began to sag. The building remains unstable, according to Mayor Zohran Mamdani, who said this is an extremely serious situation. A team entered the structure and determined that contractors can move forward with the installation of temporary shoring to stabilize the building, according to city officials.3) Nvidia's stock is the cheapest it's been since before the AI boom, after losing roughly $1 trillion in market value in less than two months. The chipmaker's stock has tumbled 16% since hitting an all-time high on May 14, as investors favor competing semiconductor manufacturers, particularly those in the memory market. Nvidia is expected to deliver the fourth-fastest revenue growth in the S&P 500 this year, but its shares are still cheaper than about half of the stocks in the index, including Hershey and Dominion Energy. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) NATO allies unveiled billions in defense industry deals to buy next-generation drones and surveillance planes as allies attempt to convince President Trump that Europe is heeding his spending demands ahead of the NATO Summit. Eleven countries will buy airborne radar-detection systems from Swedish aerospace firm Saab AB, replacing a US-made Boeing Co model, in a deal worth $5 billion. Allies will invest more than $40 billion in counter-drone capabilities over the next five years, according to NATO Secretary General Mark Rutte.2) Maine Democrat Graham Platner is under pressure to end his bid for a US Senate seat following a sexual assault allegation he has denied. Senate Democratic leader Chuck Schumer and Senator Kirsten Gillibrand called on Platner to step aside and vowed to cut off the party's funding for him if he stays on the ballot. Several Democrats, including Senator Elizabeth Warren and Representative Ro Khanna, have withdrawn their endorsements of Platner and urged him to leave the race, citing the "troubling and deeply serious" allegations against him.3) Team USA’s run in the World Cup came to an end as it failed to make the quarterfinals, losing 4-1 to Belgium. Outrage over FIFA’s decision to allow striker Folarin Balogun to play continued to simmer after the organization reversed his one-game ban. The reversal sparked outrage across the world, with UEFA calling it “incomprehensible and unjustifiable” and accusing FIFA of crossing “a red line." See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump will meet with Ukrainian President Volodymyr Zelenskyy at a NATO summit in Turkey on Wednesday that will be charged with tension over the US leader’s views on Greenland, European defense spending and the Iran war. Trump arrives in Turkey on Tuesday, when he will meet with President Recep Tayyip Erdogan before a summit with the full defense alliance the next day, White House spokesperson Anna Kelly said. Meantime, Ukraine failed to intercept a single Russian ballistic missile in a deadly overnight attack on the eve of the NATO summit, highlighting Kyiv’s growing vulnerability as shortages of US-made Patriot air defenses become acute and peace talks remain stalled. Eleven people were killed and 60 injured in the overnight strikes on Kyiv that caused destruction in several districts of the city, damaging multiple residential buildings, Zelenskyy said Monday on X.2) Oil fluctuated in a narrow range, as flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Brent traded above $72 a barrel, while West Texas Intermediate was near $69. Oil and gas shipping along a US-protected corridor in the waterway showed signs of recovering Sunday, a day after several vessels had performed unexplained U-turns and detours in the energy chokepoint. Separately, OPEC+ members backed another modest rise in quotas for next month, with seven nations led by Saudi Arabia and Russia agreeing to add 188,000 barrels a day in a further roll-back of curbs made several years ago.3) US futures signaled a mild rebound in technology stocks at the start of a week in which South Korea’s memory giants will put the artificial-intelligence trade to yet another test. Nasdaq 100 contracts climbed 1% after the US holiday break. The Stoxx 600 hovered near a record high. Asian stocks fluctuated, with Samsung Electronics Co.’s 164% year-to-date rally set to face the spotlight when the chipmaker releases earnings for the June quarter on Tuesday. The report will be followed days later by peer SK Hynix Inc.’s massive ADR listing. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – we look at the potential impact of AI on the labor market In the UK – we preview the upcoming NATO summit in Turkey In Asia – we discuss inflation in China ahead of new economic data See omnystudio.com/listener for privacy information.

Bloomberg’s Nathan Hager looks at 2026's biggest tech stories...so far...and what we can expect for the rest of the year. He speaks with Gene Munster of Deepwater Asset Management and former Wedbush head of Global Tech, Dan Ives.  See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Oil fell for a third day as flows through the Strait of Hormuz climbed and there were signs of progress in indirect talks between the US and Iran. Brent for September traded below $71 a barrel, after sliding more than 3% in the previous two sessions, while West Texas Intermediate was around $68. Oil supply through the critical waterway has reached more than 10 million barrels a day, underscoring Tehran’s now-limited ability to halt shipping, a US official said, while President Donald Trump hailed progress in negotiations.2) The latest bout of volatility in technology stocks entered a second day, with chipmakers in South Korea bearing the brunt of the selling. The dollar fell and Treasuries wavered ahead of the June US payrolls report.Nasdaq 100 futures dipped 0.4% after semiconductors led Wall Street lower in the previous session. S&P 500 contracts were flat. Memory makers SK Hynix Inc. and Samsung Electronics Co. lost a combined $290 billion in value to drive a 7.9% slump in South Korea’s Kospi index. In Europe, the Stoxx 600 rose 0.5%, with technology among only three of the 20 index sectors to lose ground.3) The SEC is looking into Susquehanna International Group’s allegations that unknown insider traders made $100 million on options bets ahead of a recent Chinese regulatory crackdown on cross-border brokerages, according to a person familiar with the matter.Susquehanna went public with its claims in a lawsuit filed Monday in Manhattan federal court. The US Securities and Exchange Commission is examining the trades described in the market-making firm’s complaint, said the person, who asked not to be identified discussing the confidential probe. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) US negotiators Jared Kushner and Steve Witkoff had positive discussions with regional leaders in Qatar and technical talks with Iran are moving ahead. The US and Iran are seeking to ease tensions and forge a longer-term peace deal after recent attacks imperiled an already fragile ceasefire. Progress is being made in separate technical talks, but major issues such as the release of Iranian assets and the future management of the Strait of Hormuz remain unresolved. 2) Progressive insurgents took down establishment incumbents in Colorado midterm primary elections last night. In the 1st District, 29-year-old democratic-socialist Melat Kiros unseated nearly 30-year Congresswoman Diana DeGette. In the closely-watched 8th District, the more progressive Democrat in that race, Manny Rutinel, beat Shannon Bird in a landslide. In the state's Democratic governor's race, state Attorney General Phil Weiser defeated Senator Michael Bennet. However, in Colorado's Senate primary, incumbent John Hickenlooper held off a challenge from self-described insurgent progressive Julie Gonzales. 3) The US government removed foreign access restrictions on Anthropic PBC's Fable 5 artificial intelligence model, clearing it for wider distribution. Anthropic had disabled its models and been in discussions with officials to satisfy safety concerns after the Commerce Department imposed an export control rule. The company will enable Fable 5 access to users globally and allow usage on cloud services run by Amazon, Google, and Microsoft, and will work with Washington to expand access to Mythos 5. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran reiterated its determination to control maritime traffic through the Strait of Hormuz, raising the stakes ahead of fresh talks in Qatar on formally ending its war with the US. Deputy Foreign Minister Kazem Gharibabadi said Iran wants to work out an agreement with Oman to oversee ships passing through Hormuz, but will move forward with its own plans if Oman is not interested. The US, Europe, and Gulf Arab nations are concerned about charges being imposed for the use of Hormuz, which would likely add to energy costs and risk creating a precedent for other countries.2) President Trump refused to commit to signing a major bipartisan housing bill, saying it was “so unimportant” compared to a voting bill. Trump would make a decision on whether to sign the housing bill once he receives it, which has been formally transmitted to the White House. The bill would curb large institutional investors’ ownership of single-family homes, streamline rules around factory-built housing and encourage localities to remove barriers to construction.3) The US Supreme Court has four big outstanding cases that will be decided today. They include one which challenges the President's executive order ending birthright citizenship for children born in the US to undocumented parents. Yesterday, the High Court expanded the president’s power to fire top government officials in a 6-3 decision that overturns a 1935 precedent. The ruling lets the president fire Federal Trade Commission member Rebecca Kelly Slaughter despite a law that says commissioners can be removed only for specified reasons. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran have agreed to stop attacking each other before peace talks resume over the Strait of Hormuz and other issues. Technical talks are scheduled to continue on all aspects of a memorandum of understanding reached this month, with both sides standing down for now and vessels able to move freely. The exchange of attacks began over the waterway, with the Islamic Republic striking a container ship, prompting Washington to hit Iran, and both sides blaming the other for breaching the ceasefire.2) Russian President Vladimir Putin said he’s ready to continue talks with US envoys on ending the war in Ukraine. Putin rejected a proposal to halt long-range strikes that have proven damaging for both sides, saying his retaliatory strikes deep into Ukrainian territory are much more powerful. The Kremlin expects US negotiators to travel to Moscow to continue talks on ending the war in Ukraine once Washington is less focused on the conflict with Iran.3) The US Supreme Court is scheduled to rule on President Trump's bids to oust a Federal Reserve governor and roll back automatic birthright citizenship this week. The court will decide whether Trump can remove Fed Governor Lisa Cook temporarily while she fights mortgage fraud allegations, and whether he can restrict birthright citizenship to babies with at least one parent who is a US citizen or green-card holder. The justices will also rule on other cases, including Trump's effort to fire top officials at executive-branch agencies for any reason, and cases related to election laws and transgender athletes. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the U.S June jobs report with a focus on three stocks for the week ahead. In the UK – a look ahead to this year’s Wimbledon tournament. In Asia – a look ahead to key readings on growth and inflation for Vietnam's economy. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) An attack on a container vessel sailing through the Strait of Hormuz has prompted some shipowners to review exit plans, but traffic continued to flow in both directions through the vital thoroughfare on Friday. Two fully laden tankers are heading out of the Persian Gulf, while four empty, inbound, very large crude carriers are among the vessels sailing along the Omani coast, ship-tracking data show. This southern route is managed by Oman and coordinated by the US.2) The death toll from twin earthquakes that rocked Venezuela rose to 235 with thousands more injured, as rescue teams desperately cleared away rubble to reach trapped victims. The powerful 7.2 and 7.5 earthquakes struck within a minute of each other on Wednesday evening, toppling buildings and severely damaging the country’s main international airport. People across the country were frantically searching for missing relatives, with social media filling with photographs and appeals for information.3) Technology stocks once again pulled global indexes lower as renewed selling in semiconductor manufacturers and a possible delay to OpenAI’s public debut hit sentiment. Oil resumed its slide. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Hours after President Trump excoriated Republicans at a private lunch for backing a war powers resolution to end the Iran conflict, the Senate voted down a separate resolution as two Republicans flipped their votes. Senator Bill Cassidy of Louisiana told reporters he changed his vote after he was reassured by a private briefing he received after engaging in a shouting match with the president at the lunch. And Senator Rand Paul flipped his vote to present, posting on X that he wanted to give the peace talks a chance. The moves are mostly symbolic, but Trump had complained to senators that the passage of the resolution on Tuesday had undermined his negotiating position with the Iranians at a sensitive time, senators said.2) Micron Technology surged in premarket trading after its quarterly sales forecast exceeded Wall Street estimates, signaling that an AI-fueled growth run remains strong. The company has secured strategic customer agreements that average three years in length, which suggests it can mitigate boom-and-bust cycles in the memory chip industry. Micron's revenue will be approximately $50 billion in the fiscal fourth quarter, with profit of about $31 a share, compared with analyst projections of $43.2 billion and $25.31, respectively.3) The European Union's US trade deal is set to go into effect after the bloc gave its final sign-off. The EU will erase levies on US industrial goods and some agriculture products in exchange for a 15% tariff ceiling on its US exports. The transatlantic trade relationship remains strained due to unresolved disagreements over issues like metals tariffs and tech regulations. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) Three candidates endorsed by Zohran Mamdani swept to victory in Democratic congressional primaries on Tuesday, showing that the coalition which powered the New York City mayor to a surprising victory last year is gaining strength. Former New York City Comptroller Brad Lander, New York state lawmaker Claire Valdez, and community organizer Darializa Avila Chevalier won in their respective congressional districts, toppling some of the city's most established political figures. The victories were viewed as a test of Mamdani's political strength and appear to have paid off, with the mayor's allies winning in key races and the Democratic Socialists of America expanding its political power at the local and national level.   2) President Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the US. Iran disputed Trump's comments, saying the funds would be used "freely, in whatever manner it deems appropriate," rather than being restricted to purchases from the US. The US and Iran are making progress in peace negotiations, but outstanding issues, including Israel's conflict with Iran-backed Hezbollah in Lebanon, stand in the way of a firm deal.   3) Elon Musk's SpaceX sold $25 billion of investment-grade bonds, replacing costly debt that had helped finance Musk's acquisition of X and expensive loans and bonds issued by xAI. The bond sale will result in SpaceX paying $1.5 billion of interest annually, compared to the $1.8 billion that X and xAI would have spent to service their debt if they hadn't been folded into SpaceX. The bond offering was supported by investors, with $89 billion of orders received at its peak, and will be used to refinance a $20 billion bridge facility and for general corporate purposes. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran said $12 billion of its frozen funds were set to be released as part of ongoing talks with the US, with the two sides broadly signaling progress in negotiations to formally end their war. The unfreezing of funds — as well as the US waiving sanctions on Iranian oil exports and pledging to help set up a $300 billion rehabilitation fund for Iran — has provoked criticism of President Trump. The US and Iran have agreed to set up technical working groups to deal with issues such as unwinding sanctions on the Islamic Republic and curbing its enrichment of uranium.2) Keir Starmer resigned as UK prime minister after two years in office, and the UK could be set for a quick transition to a new premiership as rivals t o frontrunner Andy Burnham stand aside. Burnham was sworn in as an MP, with the former mayor of Manchester positioned to become Labour’s next leader. The coming switch means the UK will soon have its seventh prime minister in the 10 years since the Brexit vote. Burnham could potentially become prime minister by July 17 if he faces no challengers3) Tributes to former Federal Reserve Chairman Alan Greenspan poured in after the news of his death early Monday, with many describing him as a driving force for change at the Fed and a guiding light for investors. Greenspan's former colleagues credit him for ensuring the central bank remained focused on inflation, spotting the impact of a productivity boom in the 1990s and shaking up how the Fed communicates. Greenspan's legacy is clouded by the 2008-09 global financial crisis, with critics saying he missed the build-up of a housing bubble that ultimately caused the worst economic downturn since the Great Depression. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Keir Starmer said he would step down as Britain’s prime minister, marking a precipitous fall from favor two years after leading the Labour Party back to power with a landslide majority. Starmer’s departure paves the way for Andy Burnham to attempt to take over as successor, after the long-time mayor of Manchester won a parliamentary seat last week in order to mount a challenge. Starmer’s exit opens the door to Britain’s fifth premier since 2022: a jarring milestone for a political system which once prized itself on its stability. 2) Iran said there had been “major progress” in all-night discussions with the US as the warring sides try to reach a peace deal within two months. Iranian Foreign Minister Abbas Araghchi said the mediators, Qatar and Pakistan, had managed to ease some of the tensions over Lebanon, and Iran was beginning to see financial benefits from last week’s memorandum of understanding. Negotiations are set to continue throughout this week, with lower-level delegates discussing technical matters, and a resolution to the fighting in Lebanon will be decisive for the success of the US-Iran talks.3) Colombia elected conservative lawyer Abelardo de la Espriella president, heralding a swing back to business-friendly and pro-US policies after four years of leftist rule. De la Espriella had 49.7% of the vote to Senator Iván Cepeda’s 48.7%, with 99.9% of polling stations reporting, in one of the closest results in the nation’s history. The final, confirmed result is expected toward the end of the week, after a review process that begins at the municipal level and moves to regional commissions and the national stage.4) Alan Greenspan, the Federal Reserve chairman proclaimed a wizard for guiding a then-record US economic expansion, only to see his luster dimmed by the financial crisis that erupted less than two years after he stepped down, has died. He was 100.He died on Monday at his home, NBC News reported, citing his wife, Andrea Mitchell, its chief Washington correspondent and chief foreign affairs correspondent. The cause was complications of Parkinson’s disease. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the next U.S PCE and GDP data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to London Climate Action Week. In Asia – a look ahead to Australia CPI data. - Stuart Paul, US Economist with Bloomberg Economics, previews U.S PCE and GDP data.- Avalon Pernell, Bloomberg Equities Reporter, focuses on 3 stocks for the week ahead.- Joe Wertz, Bloomberg Weather and Climate Reporter, to preview London Climate Action Week.- Olivia Rudgard, Bloomberg Green reporter, to preview London Climate Action Week.- James McIntyre- Bloomberg Economist Covering Australia and New Zealand,  previews Australia CPI data. See omnystudio.com/listener for privacy information.

On this special Juneteenth Holiday edition of Bloomberg Daybreak - hosted by Nathan Hager: - We survey the big tech landscape ahead of Micron Earnings with Mandeep Singh, Bloomberg Intelligence Global Technology Lead and Anurag Rana, Senior Technology Analyst at Bloomberg Intelligence -We look at state of anti-trust cases in America with Jenn Rie of Bloomberg Intelligence. - Plus, We are just days away from the official start of summer..So we thought it would be a good time to look at travel as many get to embark on vacations..We do that with Nikki Ekstein and Chris Rovzar of Bloomberg Pursuits. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump signed an interim deal to end the war with Iran and reopen the Strait of Hormuz, despite criticism from Republicans. The memorandum of understanding is now in effect, and it envisions the rapid reopening of the strait and immediate sanctions waivers for Iranian oil. The deal has prompted criticism from some of Trump's allies, who say it amounts to a victory for Tehran and that the US is conceding too much, with talks on nuclear issues and potential further financial gains for Iran to follow.2) Traders dumped short-term Treasuries and bet on interest rate hikes after Federal Reserve chairman Kevin Warsh made clear the central bank won’t tolerate high inflation. The hawkish message was driven home by the projections of individual Fed members, half of whom expect to raise rates by the end of the year. The Fed’s message triggered repositioning in markets, with futures traders expecting a quarter-point rate hike by October and 30-year Treasury yields slipping to the lowest since late April.3) A ticker-tape parade celebrating the NBA Champion New York Knicks will step off at 10 a.m. from Bowling Green in Lower Manhattan, traveling north along Broadway, and concludes at City Hall Plaza with a ticketed ceremony. The city is preparing for enormous crowds, with spectators expected to number in the millions, and the NYPD will have 10,000 officers at the event. Viewing areas along the route open at 6 a.m., and police will close access points once viewing areas reach capacity, while the mayor’s office gave away 600 tickets to the City Hall ceremony in a public lottery. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 billion economic development program. The US Treasury Department will issue waivers for exports of Iranian crude oil and petrochemical products immediately after the memorandum is signed, and the US will end its naval blockade of Iranian ports. The US and its regional partners would create a plan to rehabilitate Iran and allow for its economic development, with financing of at least $300 billion, according to the draft document.   2) Voters headed to the polls in four states and the District of Columbia. The biggest races to watch were two runoff elections in Georgia, where President Trump's endorsement led to mixed results. In the Republican Senate race, Trump-backed Congressman Mike Collins defeated former University of Tennessee football coach Derek Dooley by an 11 point margin - 55.5% to 44.5%. Meanwhile, in the governor's race, President Trump's favored candidate, Lieutenant Governor Burt Jones, lost to billionaire Rick Jackson, 52.7% to 47.4%. It was also a historic primary night in Washington DC. For the first time in 36 years, Democrats have picked a nominee for delegate to Congress who is not Eleanor Holmes Norton. Councilmember Robert White ran away with the nomination with 63.2% of the vote.   3) Federal Reserve policymakers are expected to hold interest rates steady, posing a test for new chairman Kevin Warsh as inflation erodes households' purchasing power. Several officials have outlined scenarios that could warrant rate hikes and want to eliminate language suggesting their next move is likely to be a cut. Investors will be listening for how strongly Warsh expresses support for the central bank's commitment to returning inflation to the Fed's 2% goal. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US President Donald Trump keeps repeating that the Strait of Hormuz — through which one fifth of the world’s oil and liquefied natural gas supplies normally flow — will reopen by Friday.But on the sidelines of the Group of Seven summit, where Iran likely dominated Monday’s dinner conversation, it’s clear that his European allies don’t share his optimism. They disagree that trade can resume by week’s end, like Trump promised, and have practical questions about what exactly was agreed before they can commit to de-mining missions and patrols.2) The UK announced new sanctions on what it said was a Russian intelligence network that has been acquiring Western technology for its military to use in Ukraine, as well as a further clampdown on its shadow fleet and illicit finance programs. Britain’s Foreign Office said it was exposing a front company called LLC Neptune Co Ltd, which it said was controlled by Russia’s military intelligence agency, the GRU, and was involved in covertly procuring Western technology for the country’s military.3) SpaceX shares surged in premarket trading, putting the stock on track to extend a rally following its blockbuster debut last week. The shares rose 11% in New York, poised to build on the more than 40% gain across SpaceX’s first two sessions as a public company. The gains have lifted the market value of the rocket and AI company founded by Elon Musk above $2.5 trillion as of Monday’s close, bringing it within striking distance of Amazon.com Inc.’s nearly $2.7 trillion valuation. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for negotiations on the fate of Tehran’s nuclear program. Officials from the two countries will meet in Switzerland to formally sign the agreement, with key sticking points left for the next stage of talks, including the removal of sanctions and financial incentives for Iran. The agreement could bring peace and security to the region, but its details remain unresolved, and both sides are casting the deal in different lights, underscoring the difficulties that may lie ahead in resolving outstanding issues. 2) Inflation is roaring back at the fastest pace in three years, and investors have been dumping US Treasury bonds and piling into bets the Fed will need to start raising rates by December. Federal Reserve Chairman Kevin Warsh is facing an unusually high-stakes test in his first FOMC meeting as Fed chair, with his maiden press conference and the Fed's post-meeting statement and forecasts to be scoured for clues on what's next. Warsh's commitment to maintaining the bank's political independence will be reassured if he sends a convincing message that the Fed is willing to shift back into inflation-fighting mode, but falling short will rattle markets already worried he could jeopardize the Fed's credibility. 3) SpaceX shares jumped in premarket trading Monday, after its blockbuster debut Friday vaulted it into the ranks of the world’s most valuable public companies. The performance helped bolster confidence in the artificial intelligence rally, following SpaceX’s embrace of AI earlier this year with the acquisition of Musk’s xAI. It also boosted the IPO prospects of Anthropic PBC and OpenAI, both of which plan go public themselves. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the next FOMC decision, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to a high stakes UK election and Bank of England decision. In Asia – a look ahead to a monetary policy decision from the Bank of Japan. See omnystudio.com/listener for privacy information.

Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.  The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.  For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with: Yahaira Anand, Bloomberg Television Reporter Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage Ed Ludlow, Bloomberg Tech co-host See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz, according to senior officials. A deal is likely to take the form of a memorandum of understanding, and Geneva is being considered as a potential location for the signing. An Iranian foreign ministry spokesman said "we have not yet reached a conclusion on this matter", despite reports of progress toward ending the war.2) SpaceX made history with a $75 billion IPO and now needs the market's validation of its ambition to dominate AI and carry humans to the moon and Mars. The company's IPO was more than four times oversubscribed, and indications are that SpaceX shares could open with a pop of at least 35% on its first day of trading. The trading will determine whether Elon Musk becomes the world's first trillionaire and will also affect the prospects for initial public offerings from SpaceX's AI rivals Anthropic PBC and OpenAI.3) The New York Knicks are on the cusp of winning the NBA finals, and SpaceX is poised to go public in the biggest IPO in history. The NBA finals have had a significant economic impact, with high ticket prices and increased merchandise sales, and ratings are higher than they've been in decades. The SpaceX IPO could have a significant market impact, with investors having mixed views on the company's valuation and potential for growth in the AI sector.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The New York Knicks came from 29 points down to beat the San Antonio Spurs 107-106 in Game 4 of the NBA Finals, taking a 3-1 lead in the series. The Knicks' win was capped off by OG Anunoby's tip-in with 1.2 seconds remaining, which followed a long 3-point shot by Jalen Brunson that bounced off the front of the rim. The Spurs had led 81-52 in the third quarter, but the Knicks outscored them 58-30 in the second half to complete the record-breaking comeback.2) President Trump said he will continue bombing Iran if it refuses to agree to an interim peace deal, following a second night of clashes between the countries’ forces. Iran retaliated by firing on US bases in Kuwait, Bahrain and Jordan, and said the Strait of Hormuz would be closed to all types of vessels. Trump ordered multiple strikes, including around 50 Tomahawk missiles, which Central Command described as “self-defense strikes,” in a signal that Trump wants to avoid restarting a full-on war.3) US inflation accelerated in May to the fastest pace in more than three years as the Iran war pushed up energy prices, outstripping Americans’ pay gains. Still, President Trump sought to downplay the CPI data, calling the figures “great” and suggesting fuel costs would be even higher if not for US efforts to get oil shipments out of the Strait of Hormuz. “You know what I really love? I love the inflation,” Trump said Wednesday. That’s because once the war is over “it’s going to come down like a rock.” See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran exchanged strikes overnight after President Trump retaliated against Tehran for shooting down an American Apache helicopter. The US military said it had completed an operation that saw fighter jets strike Iranian air defenses, ground control stations, and radar sites near the Strait of Hormuz. Iran launched missiles on four American targets and fired drones at the US's main naval base in the Middle East, with no immediate reports of casualties in any of the attacks.2) Progressive Democrat Graham Platner won the party's Senate primary in Maine with about 72% support. Platner's campaign was marked by accusations of past misbehavior, including a Nazi symbol tattoo and disturbing behavior towards ex-girlfriends, which he has denied or acknowledged as mistakes. Platner will face Republican incumbent Susan Collins in the November Senate race, which Democrats consider crucial to reclaiming the chamber. Incumbent Lindsey Graham, who was endorsed by President Trump, is projected to win the Republican Senate primary in South Carolina, according to DDHQ. Representative Nancy Mace, once a close Trump ally, finished in last place in the state's gubernatorial race, saying her support for releasing the Epstein files is why she lost. Trump-backed Pamela Evette, South Carolina's lieutenant governor, and state attorney general Alan Wilson advanced to a runoff.3) Microsoft co-founder Bill Gates is set to appear*behind closed doors before the House panelinvestigating Jeffrey Epstein. Gates has reportedly been getting some help from Jake Greenberg, who, according to the New York Times, was spearheading the oversight panel's Epstein inquiry until December. The Gates Foundation, which has launched an external review of Gates' ties with Epstein, told the Financial Times that it regretted "having any employees interact with Epstein in any way." Gates has not been charged with anything and has called his relationship with Epstein a "huge mistake" and denied any wrongdoing. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump renewed his claims of momentum toward ending the conflict with Iran after a halt to hostilities between Israel and Iran. Iran and Israel agreed to halt strikes on each other following a flare-up that saw both countries launch waves of ballistic missiles, with a ceasefire in place for about two months. Trump told reporters that "we're in the final throes of what will be a very, very good deal" and that they "could have at least an idea one or two days from now" about the deal.2) The race for California governor is on track for a two-person runoff in November between Xavier Becerra and Steve Hilton. Becerra took first place in the primary with more than 27% of the vote, while Hilton was in second at 25%, according to a tally by Decision Desk HQ. The runoff sets up a showdown along party lines for the governorship of the nation’s most populous state, with Becerra vowing to tackle California’s affordability crisis and Hilton campaigning on criticizing Democratic power in California.3) The New York Knicks lost their first home NBA Finals game at Madison Square Garden since 1999, with a 115-111 loss to the San Antonio Spurs. Tickets for the game were priced as high as six figures, with demand so high that secondary market tickets reached well into the thousands. The game was attended by notable figures including President Donald Trump, New York City Mayor Zohran Mamdani, and celebrities such as Spike Lee, Jay-Z, and Jon Stewart. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Israel and Iran exchanged missile strikes on Monday despite President Trump’s calls for both sides to stop fighting and give peace talks a chance. Iran launched a fresh wave of attacks just hours after firing ballistic missiles at Israel on Sunday. Israel responded with strikes on military targets in western and central Iran, while Iranian state media reported multiple explosions in the capital, Tehran. 2) The Houthis, an Iran-backed militant group that controls much of Yemen, declared a ban on Israeli ships in the Red Sea, threatening a key bypass route to the Strait of Hormuz. “We declare a complete and total ban on Israeli maritime navigation,” the group said Monday in a statement. “We consider all enemy movements to be legitimate military targets for our armed forces.” The move comes as the Iran war drags into a fourth month and hostilities flare across the region, threatening to derail a fragile truce and complicate negotiations toward a peace deal. The conflict has led to the near-closure of Hormuz, forcing key Middle Eastern exporters to find alternative routes to global markets.3) The Secret Service and the New York Police Department barred outdoor watch parties planned near Madison Square Garden for Game 3 of the NBA Finals on Monday night, citing security requirements tied to President Donald Trump’s planned attendance. The ban applies only to Game 3, with officials expecting the New York City watch parties to resume for Game 4. Matt McCool, special agent in charge of the Secret Service’s New York field office, said the two agencies jointly determined that outdoor gatherings near the arena could not be safely accommodated. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to London tech week. In Asia – a look ahead to China PPI and CPI data. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) There was no sign of progress in ceasefire talks between the US and Iran after the worst burst of violence in weeks. President Trump said ceasefire talks are in the “final” stages, while Iran’s foreign minister said the negotiations had stalled. Hezbollah militants rejected a US-brokered truce in Lebanon, with its chief calling the deal “absurd” and refusing to link its presence in Lebanon with stopping the war.2) The Senate passed a $69.5 billion bill to fund two immigration enforcement agencies over three years, resolving a months-long dispute. The bill includes $26 billion for Customs and Border Protection, $38.5 billion for Immigration and Customs Enforcement, and $5 billion for additional border support. The bill now heads to the House for a vote before being sent to President Donald Trump's desk for his signature.3) Russian President Vladimir Putin pushed back at prospects for European leaders to help negotiate an end to his war in Ukraine, dismissing them as mediators. Putin reiterated that he’d reached an agreement with President Trump on what he said was a compromise peace deal at their summit in Anchorage, and that EU states could play a role in ending the war by convincing Kyiv to agree to compromises. Ukrainian President Volodymyr Zelenskyy issued an open letter to Putin calling on him to meet directly to settle the war, and said that both Europe and the US should be part of the process of ending the war. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran said there had been no recent progress in talks with the US over an interim peace deal, while fighting persisted in Lebanon despite Washington’s declaration of a ceasefire between Israel and the country.Iranian Foreign Minister Abbas Araghchi said late Wednesday that “no tangible progress has been achieved in the negotiation process” with the US, according to the semi-official Tasnim news agency.2) US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in Iran in response. The exchange followed days of Israeli military escalation against Iran-backed Hezbollah in Lebanon, prompting a phone call between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Tensions remain high after the US attacked Iranian radar and command-and-control sites, with Iran trying to target an air base in retaliation and the US and Israel having different ideas about what an end to the war should look like.3) The New York Knicks' winning streak lives on, and they struck first in the NBA Finals.Jalen Brunson scored 30 points, Karl-Anthony Towns finished with 18 points and 12 rebounds, and the Knicks erased a 14-point second-half deficit to beat the San Antonio Spurs 105-95 in Game 1 of the finals on Wednesday night. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) We wrap a number of major primary elections across the country. Republican Steve Hilton and Democrat Xavier Becerra surged to the top of California’s crowded gubernatorial primary, with billionaire Tom Steyer trailing in the contest. In Los Angeles mayor's race, incumbent Karen Bass has been forced into a runoff and could face Republican Spencer Pratt, who is leading second place. In a New Jersey House district which could prove key for Republicans holding their majority in November, former Navy helicopter pilot Rebecca Bennett is projected to win the Democratic primary. 2) US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Middle East countries and struck a command center in Iran in response. The exchange followed days of Israeli military escalation against Iran-backed Hezbollah in Lebanon, prompting a phone call between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. Tensions remain high after the US attacked Iranian radar and command-and-control sites, with Iran trying to target an air base in retaliation and the US and Israel having different ideas about what an end to the war should look like.3) The US is proposing a new tariff of at least 10% on imports from 60 trading partners, following an investigation into how trade partners handle goods allegedly produced by forced labor. A 10% tariff rate would apply to imports from Canada, Mexico, the European Union, Taiwan and the UK, among other places, while products from other major economies, including China, India, Japan, South Korea, Brazil and Switzerland, would be subject to a 12.5% levy. The levies won't go into effect immediately and are subject to a public comment and review period before implementation, which could result in changes before any duties are codified, with written comments due by July 6 and public hearings beginning on July 7.4) CBS News fired 60 Minutes correspondent Scott Pelley after he confronted his new boss at an internal meeting on Monday. Pelley had questioned the qualifications of Nick Bilton, who was appointed to lead the CBS newsmagazine, and accused CBS News Editor-in-Chief Bari Weiss of “murdering” the program. Pelley said the leadership of 60 Minutes is "no longer recognizable" and that the principles he holds dear are gone, which is why he must leave. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump says he thinks the US can reach an interim peace deal with Iran soon, with discussions continuing "at a rapid pace." Iran's negotiators are discussing their "final text" to send to the US, but are wary of the US due to previous breached pledges. A ceasefire in Lebanon is a key part of the potential memorandum of understanding between the US and Iran, with Iran insisting on a stop to fighting as part of the deal.2) The White House will reduce tariffs on agricultural equipment, such as combines and harvesters, to reduce costs for US farmers and manufacturers. The tariffs would drop to 15% from 25%, with a lower 10% duty rate possible if capital equipment contains at least 85% US steel or aluminum. The concession takes effect June 8 and would run through the end of 2027, according to a White House fact sheet.3) The Trump administration's plans to scrap a $1.8 billion legal fund for victims of alleged government "weaponization" have been met with skepticism from Republican senators. The fund was created as part of a settlement resolving the president's lawsuit against the IRS over the 2019 leak of his tax information, and was intended to compensate those alleging they were victims of politically motivated investigations or legal action. Several Republican senators have demanded public assurances that the fund is dead, with Senate Majority Leader John Thune saying "that would be the ideal outcome" and that the administration should make clear the fund won't be established. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast:1) The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear whether the sides were making much progress. As the diplomatic exchanges continued, Israel expanded its ground assault in Lebanon, shattering a brittle truce with its northern neighbor. President Trump said his proposed deal states clearly “that Iran will not have a Nuclear Weapon,” according to a post on Truth Social. Trump hadn’t spoken on the subject of Iran since a White House Situation Room meeting Friday in which he said he expected to announce an agreement. In a social media post earlier that day, he reiterated his demands, including that Iran suspend its nuclear program and fully restore the strait to its earlier status as a free, international waterway. The semi-official Tasnim news agency, which has close ties to the Islamic Revolutionary Guard Corps, said Sunday that both sides continued to propose amendments, but noted that the US and Iran could ultimately reject the changes, causing the deal to collapse.2) Oil rose from a six-week low amid uncertainty over the outlook for a peace deal to end the war in Iran. Brent advanced to around $93 a barrel after closing at its lowest since mid-April on Friday, while West Texas Intermediate rose to near $90. The US and Iran traded messages over the weekend seeking changes to a draft agreement that would extend a ceasefire and open the Strait of Hormuz, but it was unclear if the sides were making much progress. The standoff follows a bout of optimism that some form of peace agreement would be reached — and that energy flows would resume through the Strait of Hormuz — that had caused the first monthly drop in crude prices this year. Brent is still up more than a quarter since the war started at the end of February, as the near-total closure of the vital waterway causes unprecedented turmoil in oil markets.3) Nvidia is entering the personal computer market with a new chip aimed at loosening Intel’s long-standing stranglehold on the sector and modernizing machines for the artificial intelligence era. Starting this fall, the new RTX Spark Superchip will debut in premium laptop and desktop computers from leading brands, including Dell and Lenovo, Chief Executive Officer Jensen Huang announced during a keynote speech at the Computex trade show in Taiwan. Huang also announced that next-generation Vera central processing units will enter full production in the third quarter of this year, marking the company's first standalone data center microprocessor. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the May jobs report, along with a focus on three stocks for the week ahead. In the UK – a look ahead to what comes next in the Ukraine war following fresh EU funds to Ukraine. In Asia – a look ahead to Australia GDP data. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss the future of Tehran’s nuclear program, according to a person with knowledge of the matter. Vice President JD Vance said the US and Iran are “going back and forth on a couple of language points,” including over issues relating to Tehran’s nuclear capabilities, and that Iran appears to be negotiating in good faith. The US Treasury Secretary reiterated President Trump’s three “red lines” — reopening the Strait of Hormuz, Iran surrendering highly enriched uranium and ending its nuclear program — remain in place.2) Dell shares soared in extended trading after the company gave an outlook for annual sales that far surpassed analysts’ estimates. Revenue in the fiscal year ending in January 2027 will be about $167 billion, including $60 billion from the sale of AI servers, according to the company. Dell’s server business has been viewed as an AI winner this year, sparking the stock more than 150% higher through Thursday’s close.3) Anthropic PBC raised $65 billion in a funding round that valued the artificial intelligence company at $965 billion including the new investment. The funding was led by Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital, with each of the lead investors putting in more than $2 billion. Alphabet Inc.'s Google and Amazon.com Inc. also invested in the round, with Google contributing several billion dollars and Amazon investing $5 billion. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US struck Iranian military targets for the second time this week and Kuwait said it responded to missile and drone threats, highlighting the fragility of the ceasefire. US forces shot down Iranian drones fired at a commercial ship and hit a launch unit near the Strait of Hormuz, according to a US official, who said the attacks were defensive and the ceasefire remains intact. President Trump asserted that no one nation would control Hormuz, which has emerged as one of the key obstacles in resolving the conflict, and said the strait's going to be open to everybody.2) Federal Reserve Vice Chair Philip Jefferson said he expects inflation to cool later this year as the effects of tariffs and higher energy costs wear off, though he warned inflationary risks remain tilted to the upside. In the text of a speech he’s scheduled to deliver Thursday morning in Tokyo at a conference hosted by the Bank of Japan, Jefferson said he is watching for signs that higher energy costs stemming from the Iran war are dragging on consumer spending. He also cautioned that he continues to see signs of labor market weakness. Jefferson repeated his view that the central bank’s current policy setting is well positioned to respond to any developments.3) Salesforce gave a revenue outlook for the current period that just fell short of analysts' estimates, with revenue expected to be about $11.3 billion in the fiscal second quarter. The company reported fiscal first-quarter remaining performance obligations of $67.9 billion, compared with analysts' average estimate of $68.9 billion, and its stock has declined about 33% this year. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Texas Attorney General Ken Paxton won the state's Republican Senate runoff, defeating incumbent John Cornyn with approximately 63% of the vote. Paxton will face Democrat James Talarico in the November election, and Talarico has released a video focusing on Paxton's 2023 impeachment by the Texas House of Representatives. Republican leaders in Washington will have to decide how much to spend to back Paxton, who has significant baggage, including a history of scandal, to ensure the Texas seat stays in GOP hands.2) There is some optimism that the US and Iran will reach a peace deal despite fresh hostilities and uncertainty over the vital Strait of Hormuz. The strait remains essentially shut, subject to blockades by the US and Iran, but at least two non-Iranian supertankers exited the chokepoint on Tuesday. Secretary of State Marco Rubio has cautioned that any peace pact would likely take a few days to finalize. Meanwhile, US forces hit targets near the strait, while the Islamic Revolutionary Guard Corps said it fired at multiple US aircraft after they entered Iranian airspace.3) Strategists at Goldman Sachs Group Inc. joined peers at Morgan Stanley and Deutsche Bank AG in seeing a 17% return for the S&P 500 Index this year. Earnings growth powered by the AI boom will drive further gains in stocks, the Goldman team led by Ben Snider said as they increased their year-end target for the US benchmark to 8,000 points, ditching a previous forecast of 7,600. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US and Israeli jets struck Iranian vessels in the Strait of Hormuz and other targets, hours after President Donald Trump had suggested negotiations with Tehran over an interim deal were progressing.The attack took place south of Larak Island in the Strait of Hormuz, with several Iranian personnel killed, Iran’s state-run Nour News reported, without providing further details. Trump earlier said negotiations between the US and Iran over an agreement to extend their ceasefire and reopen the strait were “proceeding nicely.”2) Russian Foreign Minister Sergei Lavrov called US State Secretary Marco Rubio to advise him to evacuate US citizens and diplomats from Kyiv, as the Kremlin plans to continue heavy strikes on the Ukrainian capital, according to a statement published by the Russian Foreign Ministry Monday.3) Ferrari NV shares fell almost 8% in Milan after the Italian super-car maker unveiled the Luce, its first fully electric vehicle, marking a sharp setback for one of the industry’s most closely watched EV debuts.The drop shows the challenge Ferrari is facing as it tries to extend one of the world’s most profitable luxury-car brands into battery-powered models. Early negative reactions across analysts as well as social media zoomed in on the four-door, five seater’s design, judged too similar to other electric models such as by Tesla Inc. See omnystudio.com/listener for privacy information.

On this special Memorial Day edition of Bloomberg Daybreak - hosted by Nathan Hager.  We look at the challenges ahead for new Fed Chair Kevin Warsh with Bloomberg News International Economics & Policy correspondent Michael McKee and Anna Wong, Chief US Economist with Bloomberg Economics We preview Costco and Best Buy earnings with Bloomberg Intelligence Analysts Jenn Bartashus and Lindsay Dutch And as we we kick off the unofficial start of summer, we will tell why this could be one of the most expensive Memorial Days on record. We break it all down with Bloomberg's Julia Fanzeres and Mark Niquette See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S PCE and personal spending data, along with a focus on three stocks for the week ahead. In the UK – a look ahead to the Reykjavík Economic Conference in Iceland. In Asia – a look ahead to Australia CPI data. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran said the latest US proposal partly bridged the gap between the warring sides, but comments from the Islamic Republic's supreme leader clouded the outlook for a breakthrough. The US has demanded Tehran hand over its enriched uranium and commit to ending enrichment, while Iranian leaders have balked at those terms in public. The conflicting statements on key issues left it unclear if the two sides were any closer to a deal after renewed threats of escalation in recent days. 2) NATO Secretary General Mark Rutte welcomed President Donald Trump's announcement to send additional troops to Poland. The announcement increased a sense of confusion within the alliance, with officials saying they would prefer US moves to be coordinated. The US is expected to announce adjustments to national forces set to be made available in case of crisis or war, which may include cuts to troops in NATO's force model. 3) Stephen Colbert hosted the last episode of his namesake show on CBS, mostly steering clear of political jokes and criticism of President Trump. The show featured a parade of actors and comedians, including Bryan Cranston and Paul McCartney, who closed the program with a performance of the Beatles hit Hello, Goodbye. Colbert's show is being replaced by Comics Unleashed, a program hosted by Byron Allen, who said the show steers clear of politics and intends to make money selling ads. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Nvidia reported another blowout earnings report and beat analyst estimates, but faced skepticism from some investors. The tech giant aims to rely less on giant data center operators and predicts other businesses and governments will become a bigger source of revenue for its chips and computing products to support artificial intelligence ambitions. The company faces growing competition from chipmakers trying to carve out a piece of the AI computing business, and major buyers of Nvidia's technology are developing their own in-house components. Nvidia's sales gained 85% to $81.6 billion in the three months ended April 26, and the company boosted its quarterly dividend and announced $80 billion in stock repurchases, but investors were not swayed and shares slipped about 1% in late trading.2) SpaceX filed for an initial public offering, revealing billions in losses and a super-voting share plan allowing Elon Musk to keep the company under his control. The company's goals include a human settlement on Mars with at least 1 million inhabitants and making data centers in space a reality, part of a $28.5 trillion total addressable market. The IPO is targeted to raise as much as $75 billion, with Musk standing to benefit significantly, including potentially receiving as many as 1 billion shares if he meets certain goals.3) Iran is assessing the latest peace proposal from the US, as the countries seek to avoid a resumption of hostilities. The exchange of messages is based on Iran’s 14-point text, which suggests a short-term deal that would see Iran reopen the Strait of Hormuz and the US lift a blockade of Iranian ports. Iran gave no indication of when it would respond to the US and reiterated it wants a commitment that fighting will end “on all fronts, including Lebanon.” See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Ed Gallrein, President Trump's hand-picked candidate, defeated Thomas Massie in a congressional primary in Northern Kentucky. Gallrein's victory is seen as a sign of Trump's grip over his base in solid Republican states, despite national surveys showing the broader electorate souring on the president's handling of issues. The primary was one of the most expensive on record, with nearly $33 million spent.2) President Trump threatened to resume strikes on Iran in the coming days as part of the push for a deal to end the war. The Republican-led US Senate signaled opposition to continuing the war with a procedural vote on Tuesday evening that reflected deepening unease over a foreign conflict. Vice President JD Vance projected a slightly more positive tone on the negotiations, saying "we think that we've made a lot of progress, we think the Iranians want to make a deal," but also threatened a resumption of strikes.3) Talks between Samsung and its largest labor union broke down, raising the prospect of a strike that may disrupt global chip supply and hamper Korean economic growth. A general work stoppage will go ahead after Samsung’s management rejected a proposal from government mediators that had been accepted by the union, according to labor leader Choi Seung-ho. The collapse in negotiations puts the global technology supply chain at risk because Samsung is the world’s biggest supplier of chips that go into devices from data center servers to smartphones and electric vehicles. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said he called off a new bombardment of Iran planned for Tuesday after Saudi Arabia and other Persian Gulf allies wanted more time to pursue diplomacy. Trump said the US delayed the strikes "for a little while, hopefully maybe forever," because "we've had very big discussions with Iran, and we'll see what they amount to." There was no immediate confirmation from Tehran of renewed talks, and Tehran's leaders have taken a hard line, insisting the US ends a blockade of Iranian ports and provides assurances they won't be attacked again.2) A jury rejected Elon Musk's claims that OpenAI betrayed its mission to benefit the public by morphing into a for-profit business, finding that he waited too long to sue the company. The verdict is a major relief for OpenAI as it eyes a potential initial public offering, and Musk and his lawyers have vowed an appeal. The jury concluded that Musk had enough knowledge about his claims years ago that he should have sued sooner, and did not address his central claim that OpenAI abandoned its responsibilities to develop AI for the benefit of humanity.3) New York City’s transit system and Long Island Rail Road workers reached a potential labor agreement, ending a historic strike that suspended service on the largest commuter line in the US. The agreement doesn’t rely on higher-than-budgeted fare hikes or raising taxes to pay for higher wages, according to Governor Kathy Hochul. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Donald Trump expressed frustration with Iran and told it the “clock is ticking,” hours after drones targeted a nuclear power plant in the United Arab Emirates.Tehran “better get moving, FAST, or there won’t be anything left of them,” Trump said on Truth Social on Sunday. These were his most belligerent comments regarding the Iran war, which remains in a fragile ceasefire, since he returned to the US from China on Friday.2) Aaron Rai was just another name among a dozen others who had reason to believe the PGA Championship was theirs for the taking Sunday at tough Aronimink.There was Rory McIlroy, Jon Rahm and Xander Schauffele, with 10 majors among them, all ready to seize the moment on a stage that was unfamiliar to Rai.Justin Thomas was the clubhouse leader for nearly four hours after a 65 before the course turned hard under a hot sun.3) Long Island commuters are poised to battle congested roads and packed buses as a workers’ strike threatens to disrupt travel in and out of New York City unless negotiators can strike a deal.Monday would be the first weekday since the Long Island Rail Road, the nation’s busiest commuter railroad, stopped service on Saturday after roughly 3,500 engineers, signalmen and electrical workers walked off the job following a stalemate between the state-run Metropolitan Transportation Authority and union leaders on a labor deal. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from Nvidia and a focus on three stocks for the week ahead. In the UK – a look ahead to earnings from Europe’s largest low-cost airlines. In Asia – a look ahead to Japan GDP data.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said the US and China share common goals for ending the Iran war, including that the Islamic Republic shouldn’t possess a nuclear weapon and that the Strait of Hormuz should reopen. The US administration wants China’s help pressuring Tehran into negotiations to end the conflict, but Beijing has remained cautious, urging further diplomacy and saying disputes over Tehran’s nuclear program should be resolved through dialog. Xi Jinping hailed the results of his meetings with US President Donald Trump and touted an agreement on a new relationship for their countries. The two countries reached an "important consensus" on maintaining stable economic and trade relations while expanding cooperation in various fields.2) Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The move by Miran was expected given his seat on the Fed’s Board of Governors will be taken by Warsh. The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell’s term ends on Friday.3) Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. OpenAI lawyers are working on a range of options, including sending Apple a notice alleging breach of contract, as the company feels Apple's use of OpenAI technology remains limited and features can be hard to find. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Chinese President Xi Jinping warned President Trump of a potential conflict if the Taiwan issue is mismanaged, saying it is the most important issue in China-US relations. Xi said that if the Taiwan issue is mishandled, the two nations will experience collision or even clashes, pushing the entire China-US relationship into a highly dangerous situation. The US and China discussed various issues, including expanding market access for US businesses, purchasing US energy and agriculture, and addressing the flow of fentanyl precursors, but the Taiwan issue remains a point of tension.2) The Senate confirmed Kevin Warsh as chair of the Federal Reserve with a 54-45 vote, the slimmest confirmation margin ever for a head of the central bank. The confirmation sets up a test of the Fed's political independence, with Democrats fearing Warsh will bend to President Donald Trump's demands to rapidly lower interest rates. Warsh vowed to maintain the Fed's tradition of making interest-rate decisions free from political pressure, but Trump has made it clear he expects Warsh to lower borrowing costs immediately.3) Cisco gained in late trading after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs to focus on the fast-growing AI market. The company said revenue will be $16.7 billion to $16.9 billion in the fiscal fourth quarter, and its restructuring plan is designed to further improve its position in the AI economy. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump repeated his military threats against Iran ahead of a visit to China, saying Iran will either “make a good deal” with the US or face devastation. A ceasefire between the US and Iran has lasted over a month but is fragile, with Trump describing it as being on “massive life support” and Tehran continuing to resist US demands. The President is expecting economic deals and a welcome in China, where he will discuss trade, tariffs, and Taiwan with Xi Jinping. The US has targeted Chinese oil refiners and firms providing satellite imagery to Iran, as Trump ramps up his campaign to pressure Tehran into a deal.2) Oil shipments from Iran's main export terminal appear to have come to a standstill over the past several days, according to satellite images. If Kharg Island were to remain idle, it would increase the pressure on the country's remaining storage facilities, which satellite images show are filling up. The terminal hasn't been shown empty for more than a single day since the start of the war, with satellite images of the Kharg Island jetties on 33 out of the 73 days since the US and Israel launched their attacks.3) Anthropic is in early talks with investors to raise at least $30 billion in fresh financing at a valuation of more than $900 billion. The round is expected to close as soon as the end of this month, but the deal is not finalized and no term sheet has been signed. Anthropic needs to make deals to pay for enough computing infrastructure to meet growing demand for its products, amid the breakout success of its AI software. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Shipping traffic in the Strait of Hormuz remained at a standstill on Tuesday, with oil rising after President Trump rejected Iran’s latest offer. Trump called Iran’s response to his proposal a “piece of garbage” and said the ceasefire was on “life support” as he prepares to meet Chinese President Xi Jinping in Beijing. The US sanctioned a dozen entities and individuals over the sale of Iranian oil to China, stepping up economic pressure ahead of Trump's visit to meet Xi.2) President Trump and Chinese counterpart Xi Jinping will meet Thursday morning in Beijing for a high-stakes summit dominated by discussions on trade and the war in Iran. Trump is expected to press Xi on China's approach to Iran, including revenue for Tehran and potential weapons exports, and will also discuss US arms sales to Taiwan.3) A defiant Keir Starmer pushed back against widespread calls for him to quit as Britain’s prime minister, telling his Cabinet that he plans to stay on. More than 80 of Labour’s 403 MPs have called on the prime minister to step aside in the wake of last week’s local elections, in which the party lost control of the Welsh parliament and almost three of every five English council seats it was defending. Starmer said the past 48 hours had been “destabilizing” for the UK. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump and Iran rejected each other’s latest peace proposals to end the 10-week conflict as the two sides struggle to maintain a fragile ceasefire. “I have just read the response from Iran’s so-called ‘Representatives,’” Trump said in a social media post. “I don’t like it — TOTALLY UNACCEPTABLE!” Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported earlier. Iran disputed the report, according to the country’s semi-official news agency Tasnim. It was unclear whether the exchange of proposals would offer a path to reopen the Strait of Hormuz. Under its latest proposal, Iran would dilute some of its highly enriched uranium and have the rest sent to a third country, the WSJ said, citing people familiar with the response, but it also called for guarantees the transferred uranium would be returned if talks fail and ruled out dismantling its facilities.2) Israeli Prime Minister Benjamin Netanyahu said he would like to end US financial support for Israel’s military over the next decade. “I want to draw down the American support for Israel to zero,” he said in an interview on CBS’s 60 Minutes that aired Sunday. “We’ve come of age.” He added, “I think that it’s time that we weaned ourselves from the remaining military support and go from aid to partnership.” The US currently provides Israel with $3.8 billion a year in military assistance under a 10-year agreement originally negotiated by the Obama administration that lasts through 2028. The US military aid to Israel has at times been a contentious political issue, particularly during Israel’s assault on Gaza in response to the attack by Hamas on Oct. 7, 2023.3) President Trump is expected to press President Xi Jinping over China’s approach to Iran and hammer out details on a new board of trade when they meet this week in Beijing, senior US officials said Sunday, hours before China confirmed the state visit. Trump and Xi are scheduled for talks on Thursday and Friday in Beijing as they wrestle with strong disagreements over trade and the US-Israeli war with Iran, which counts China as its biggest oil buyer and a key diplomatic backer. In final preparations for the first US presidential trip to China in nearly a decade, Treasury Secretary Scott Bessent will meet his Chinese counterpart He Lifeng for last-minute talks in Seoul on Wednesday, both sides confirmed. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI, PPI, and Retail sales data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to the annual Cannes film festival. In Asia – a look ahead to US Treasury Secretary Scott Bessent's Trip to Japan.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran clashed near the Strait of Hormuz, with US forces targeting missile and drone launch sites and other military assets in Iran. The clashes risk undermining talks over a US-proposed deal to end the war, with Iran expected to send a response via Pakistan in the next two days.2) A federal trade court declared President Trump's 10% global tariffs unlawful, granting a request by small businesses and mostly Democrat-led states to invalidate the tariffs. The court blocked the administration from enforcing the tariffs against two companies that sued and Washington State, but did not issue a "universal injunction" as other states lacked standing.3) SoftBank has downsized plans for a $10 billion margin loan backed by its OpenAI stake after facing hesitation from some creditors. The Japanese conglomerate and bankers have mentioned targeting an amount as low as $6 billion in separate discussions with potential lenders in recent weeks. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Trump administration is waiting on Iran to respond to its proposal to reopen the Strait of Hormuz and end a war that’s killed thousands of people and triggered a surge in energy prices. Iran is expected to give an answer in the coming days, though its leaders have previously shown little sign of yielding on their nuclear program and accepting a moratorium on enriching uranium.2) The European Union failed to finalize a US trade deal during overnight talks, despite warnings from President Donald Trump that he would soon impose fresh tariffs. Negotiators will continue talks in the coming weeks, with officials committed to moving swiftly, according to Cypriot Energy Minister Michael Damianos. The EU is under pressure from the US to ratify the trade pact, with Trump threatening to increase duties on EU cars and trucks to 25% if the EU doesn't make substantial progress.3) Secretary of State Marco Rubio leaves for Rome today, reprising his role as a more Euro-friendly voice of the administration. He’ll visit with the pope and Italian leader Giorgia Meloni, who have clashed with President Donald Trump, but the stakes go beyond that. Rubio will land amid wider tension with Europe as the president chose to 5,000 troops out of Germany and threatens to do similar in Italy and Spain, while reupping his attacks on Pope Leo XIV for good measure. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) The US believes it’s close to an agreement with Iran to end the near 10-week war, Axios reported, as China added its voice to global diplomatic pressure to wrap up the conflict. Washington and Tehran are working on a one-page memorandum of understanding that would set a framework for more detailed nuclear negotiations, Axios said Wednesday, citing two US officials and two other sources it didn’t identify. Nothing has been agreed yet, the news agency added, and the US expects Iranian responses on several key points in the next 48 hours. Iran hasn’t commented on any progress toward a deal.   2) US President Donald Trump said he would discuss the Iran war with Chinese counterpart Xi Jinping during their summit next week and sought to downplay tensions over the conflict. “That’ll be one subject, but he’s been very nice about this,” Trump told reporters at the White House on Tuesday in response to a question about what he hoped to achieve with Xi on Iran when they meet. “He’s been very respectful. We haven’t been challenged by China,” the president added, even as he acknowledged that Beijing is a significant importer of Iranian oil — supplies of which have been disrupted by the war. “They don’t challenge us. He wouldn’t do that. I don’t think he’d do that because of me, but I think he’s been very respectful.” The leaders are slated to meet in Beijing on May 14-15, a high-stakes summit that comes as the Iran war brings fresh tumult to the relationship between the world’s two largest economies. The war has already delayed the meeting once, sparking anxiety in financial markets.   3) US Ambassador to the EU Andrew Puzder said Washington will implement 25% tariffs on cars and trucks from the European Union “relatively soon” if the bloc doesn’t swiftly ratify a long-delayed trade deal. “Unless we see some substantial progress, I think you probably should expect those relatively soon,” Puzder told Bloomberg Television. US President Donald Trump recently vowed to slap 25% tariffs on European vehicles, accusing the bloc taking too long to ratify the agreement, which was initially reached last July. The EU, meanwhile, is frustrated over several Trump moves it argues undermine Washington’s commitments under the pact. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The fragile US-Iran ceasefire held Tuesday morning after a day of clashes involving shipping in the Strait of Hormuz and missile attacks against the United Arab Emirates. The violence erupted after US President Donald Trump announced “Project Freedom,” which he described as a humanitarian effort to guide neutral ships stranded in the Gulf through Hormuz. Iran warned all ships against trying to get through Hormuz without its permission and hit a South Korean bulk carrier and attacked an empty tanker belonging to the UAE’s state oil firm.2) A man was shot by Secret Service officers near the White House Monday afternoon after agents spotted him carrying a concealed firearm and he opened fire, according to the agency’s deputy director. The suspect ran, drew a weapon and shot at the officers, who returned fire, striking him. He was taken to an area hospital.3) Apple held exploratory discussions with Intel and Samsung about producing main processors for its devices in the US, as a secondary option beyond Taiwan Semiconductor Manufacturing Co. The discussions with Intel and Samsung are preliminary and have not resulted in any orders, with Apple having concerns about using non-TSMC technology. Apple is considering additional suppliers due to supply-chain disruptions, including recent shortages driven by the build-out of AI data centers and higher demand for Macs, with CEO Tim Cook saying the company has less flexibility in the supply chain than normal. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) President Trump said the US will help ships stranded in the Persian Gulf transit the Strait of Hormuz, describing it as a “humanitarian gesture” and testing his ability to restore traffic through the strategic waterway for the first time since the war with Iran began. The operation, dubbed Project Freedom, was set to begin on Monday with the US military pledging to provide support, including the use of guided-missile destroyers, aircraft and drones. “The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance,” Trump wrote late Sunday in a social media post. “If, in any way, this Humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully.” The plan has left shipping executives perplexed, with few details provided by the president. Iran’s military, after Trump’s announcement, said US forces would be attacked if they entered the Strait of Hormuz, according to a statement carried by Iranian broadcaster Press TV.   2) Transportation Secretary Sean Duffy said he doesn’t think the US government needs to provide financial lifelines for now to other low-cost carriers, following the collapse of Spirit Aviation Holdings Inc. “At this point, I don’t think it’s necessary,” he said during a press conference Saturday at Newark Liberty International Airport. “They do have access to cash.” Duffy spoke hours after Spirit ceased operations, leaving passengers and employees stranded across the US. Earlier in the day, he announced measures to support those passengers, saying several carriers including United Airlines Holdings Inc., Delta Air Lines Inc., Southwest Airlines Co., American Airlines Group Inc. and JetBlue Airways Corp. agreed to cap prices or reduce fares for customers impacted by the shutdown.   3) GameStop Corp. is proposing to buy eBay Inc. for about $56 billion in cash and stock, a bold attempt by Ryan Cohen to take over a storied e-commerce name several times larger. The gaming retail chain offered $125 per share in cash and stock for the online marketplace, or about a 20% premium to its Friday close. GameStop, which built a roughly 5% stake in eBay, said it’s secured an initial, non-binding “highly confident letter” from TD Bank to provide about $20 billion of debt financing. In a memo to investors Sunday, Cohen’s company pledged to find some $2 billion of annual savings within 12 months of closing. The takeover bid follows the surprising ascent of GameStop, a chain of video game outlets that shrank its brick-and-mortar footprint after gamers increasingly bought software in digital stores. In 2021, it became the center of a retail-investor frenzy. Michael Burry, the Scion Asset Management head who rose to prominence after a winning wager against mortgages ahead of the 2008 financial crisis, helped fuel GameStop’s rally by taking a bullish stance on the firm around 2019. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the April jobs report in the U.S and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the UK’s Midterm local elections. In Asia – a look ahead to the next RBA Decision. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump vowed to maintain a naval blockade on Iran and was briefed by commanders on further military options. Iran's speaker of parliament, Mohammad Bagher Ghalibaf, said the blockade will further push up oil prices and that it must be lifted for new talks to occur. Trump and Iranian leaders are waiting for the other to yield first, with Iran's new supreme leader, Mojtaba Khamenei, casting doubt on the likelihood of a deal and vowing not to give up the country's nuclear or missile technologies.2) Apple delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” Apple's total sales gained 17% to $111.2 billion during the fiscal second quarter, with the $599 MacBook Neo being particularly popular and remaining sold out at several retailers.3) Defense Secretary Pete Hegseth testified before Congress, with Democrats criticizing the Trump administration over the Iran war, calling it illegal, unpopular, and ill-defined. Hegseth defended the war as crucial to keeping Iran from getting a nuclear weapon, but declined to provide new details on operational metrics or the Pentagon's $25 billion price tag. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Brent oil rallied to a four-year high after Axios reported that US President Trump will receive a briefing on new military options for action in Iran. The US and Iran have maintained their blockade of the Strait of Hormuz, with the conflict in the Middle East called the biggest supply shock in history by the International Energy Agency.2) Alphabet's Google is seeing a clear payoff from its AI spending, with solid growth at its cloud computing unit and a "meaningful acceleration in growth" driven by demand for its AI software and infrastructure. Meta Platforms is lagging behind, with its shares tumbling more than 6% after the company boosted full-year capital expenditures, and its consumer AI app being slower to take off. The four companies, including Amazon and Microsoft, are expected to spend as much as $725 billion in 2026, with a key question being whether that massive spending is providing tangible results.3) Shares of Bill Ackman's Pershing Square USA Ltd. plunged 18% in its debut after the combined initial public offering raised $5 billion. The $5 billion haul was the bare minimum to keep early investors locked into the deal, and fell short of the $25 billion that Pershing Square sought to bring in. Pershing Square USA deserves to trade at a premium to its net assets over time if the newly listed closed-end fund delivers the same outperformance as the hedge fund firm has in the past, Ackman said. See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve Chair Jerome Powell said he’ll remain at the central bank as a governor after his term as chair ends. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined,” Powell said Wednesday at a press conference.While Powell’s term as Fed chair ends on May 15, his seat on the Board of Governors doesn’t expire until 2028. “I plan to keep a low profile as a governor,” he said. “There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair.” See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US signaled it would stick with a naval blockade of Iranian ports, as it tries to choke-off Tehran’s oil exports and force it back to the negotiating table. US President Donald Trump claimed on Tuesday that Iran was in a “state of collapse.” His treasury secretary, Scott Bessent, later said Washington’s “maximum pressure campaign” had caused Iran’s inflation to accelerate and that the country was running out of oil storage. It would soon have to start cutting production, Bessent said.2) King Charles III called on the US to maintain its leadership role in the world, and to support Ukraine and the North Atlantic Treaty Organization, in a remarkably pointed speech for a monarch that urged Americans to resist the pull of isolationism.Charles used his remarks to a joint session of Congress — the first such address by a British monarch in more than three decades — to argue for preserving the alliance between the UK and US. The king appealed to the shared heritage between the two nations, sprinkling his remarks with references to culture, religion and principles behind America’s decision to declare independence 250 years ago 3) With the Fed widely expected to keep rates on hold at the April 28-29 FOMC meeting, the more interesting revelation will concern Jerome Powell’s future: Will he stay on or leave the Fed when his term as chair expires May 15? Regardless of his plans, we think Powell will offer only limited forward guidance on policy at his final news conference as chair, with Kevin Walsh on track to be confirmed as his successor. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump convened his national security team to discuss Iran’s proposal to end a war now in its third month. Iran has signaled it may be willing to accept an interim deal to reopen the Strait of Hormuz in exchange for Washington ending its blockade of Iranian ports. The president has told his advisers he’s not satisfied with Iran’s latest suggestions, and his administration has previously said any deal must include agreements to curb Iran’s nuclear activities.2) Jimmy Kimmel defended comments he made during a broadcast that prompted President Trump to call for him to be fired, citing the First Amendment right to free speech. Kimmel's comments, which included a parody of the White House Correspondents' Dinner, were called "hateful and violent" by Melania Trump, who urged ABC to "take a stand." Kimmel apologized for what Trump and others went through, but questioned whether his joke had any effect on the events that unfolded, and suggested the First Lady should have a conversation with her husband about hateful and violent rhetoric.3) Technology stocks led global equity markets lower as concerns over investment in artificial intelligence resurfaced. Oil kept rising as the Strait of Hormuz remained shut, with Brent advancing for a seventh day to top $110 a barrel. The dollar gained against major peers apart from the yen after the Bank of Japan held interest rates in a split vote. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The man accused of storming the White House Correspondents’ Dinner spent years quietly acquiring his arsenal, purchasing a shotgun from a Torrance, California, firearms dealer eight months before the attack and a semi-automatic pistol two years earlier, according to a law enforcement intelligence profile reviewed by Bloomberg. Cole Tomas Allen, 31, bought a Maverick 12-gauge pump-action shotgun from Turner’s Outdoorsman in Torrance in August 2025 and an Armscor semi-automatic pistol from CAP Tactical Firearms in Lawndale in October 2023, the profile shows.2) Oil rose after efforts to resume peace talks over the Iran war stalled, leaving the Strait of Hormuz almost impassable and prolonging the supply disruption that has roiled global markets. Brent climbed as much as 3% to $108.50 a barrel and West Texas Intermediate advanced toward $97, before giving up some gains after Axios reported Tehran offered the US a fresh proposal to open the strait. Over the weekend, President Donald Trump canceled a planned trip by his top envoys to Pakistan, which is mediating talks, while Iran said it won’t negotiate if it’s being threatened.3) To say the special relationship is going through a rough patch ahead of King Charles III’s visit would be an exercise in British understatement. The 77-year-old monarch will arrive in Washington on Monday with ties between the UK and the US at their lowest point since the Suez Crisis in the 1950s. While President Donald Trump often praises Charles as a “fantastic man,” he’s been heaping scorn on the country’s elected prime minister, mocking Keir Starmer as weak and unreliable for refusing to join America’s initial strikes on Iran See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – we preview the Federal Reserve's rate decision and big tech earnings In the UK – we look ahead to the Bank of England's upcoming rate decision In Asia – we discuss the Golden Week holiday in Japan See omnystudio.com/listener for privacy information.

On today's podcast:   1) The US increased pressure on Iran with its naval blockade, as it seeks to get Tehran to agree to talks. The US naval operation has caused many Iran-linked vessels to turn around rather than go through the Hormuz strait, potentially affecting Iran's oil exports. Israel and Lebanon are set to extend a ceasefire for three weeks, according to President Donald Trump, who announced the deal in a social-media post after meeting Israeli and Lebanese envoys at the White House.   2) Intel delivered a sales forecast of $13.8 billion to $14.8 billion in the June quarter, exceeding Wall Street expectations of $13 billion. The company's upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan, with Intel shares soaring 20% in extended trading. Intel's strong demand for processors used in AI systems is lifting demand for its flagship Xeon server processors, with Tan saying the company is "laser-focused" on increasing output from its factories to meet demand.   3) Spanish Prime Minister Pedro Sanchez said he’ll maintain cooperation with NATO allies and brushed off a report that US officials are considering suspending his country from the alliance for its stance on the Iran war. Sanchez told reporters that Spain "meets our obligations, we are a loyal partner" and that the country's position is "full cooperation with allies, but always within the framework of international law." The US is considering measures within the alliance in response to the stance of NATO allies, including Spain, on the Iran war, according to people familiar with the matter. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran are locked in a battle for control of the Strait of Hormuz after failing to meet for a fresh round of peace talks, with both sides blocking the waterway to gain leverage during an extended ceasefire. The US is maintaining a naval blockade on ships going to and from Iran’s ports, which Iran calls a violation of the ceasefire, while Iran is keeping Hormuz closed to almost all other international traffic. The blockade and closure of the Strait of Hormuz have led to increased oil prices and concerns about supply shortages and a global inflation crisis2) Navy Secretary John Phelan was fired after clashing with top leaders at the Pentagon, including over administration efforts to revive US shipbuilding. Phelan was pushed out after butting heads with Defense Secretary Pete Hegseth and Deputy Defense Secretary Stephen Feinberg over President Trump’s focus on a new US “Golden Fleet." Undersecretary Hung Cao will replace Phelan, according to Pentagon spokesman Sean Parnell, who said Phelan was stepping down “effective immediately."3) Tesla anticipates billions of dollars in additional spending this year to support Elon Musk’s ambitions to transform the company into an AI and robotics company. Capital expenditures this year will exceed $25 billion, roughly three times last year’s outlay, to be put toward a dramatic expansion of factory operations and initiatives such as production of its Optimus humanoid robot. The investments will support production of key products including Cybercab, Semi and an updated version of its Megapack battery storage system, with Tesla remaining on track to start making these products. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump indefinitely extended a ceasefire with Iran as peace talks remain on hold, walking back threats to resume fighting. The US-Israel alliance and Iran won’t immediately return to fighting, but there’s still no sign the vital Hormuz waterway will be reopened to oil and gas shipments soon. Iran says it will not reopen the Strait of Hormuz or restart peace talks until the US naval operation ends, and the US president blamed divisions among the Islamic Republic’s leaders for the need to extend the truce.2) Virginia voters backed a Democratic plan to redraw the state's congressional districts, with the Yes vote leading 51.5% to 48.6%. The vote could net Democrats as many as four more US House seats in November's midterm elections, according to multiple projections. The outcome shifts Virginia's congressional delegation from being one of the most balanced to packing Republican voters together, favoring Democrats in most districts.3) Kevin Warsh pledged to act independently if confirmed as the next Federal Reserve chair, rejecting concerns he would be a "sock puppet" for President Trump. Warsh called for changes to the way the US central bank makes its decisions, including a new framework for dealing with persistent inflation and a new way of communicating with the public. See omnystudio.com/listener for privacy information.

President Donald Trump announced he was extending a ceasefire with Iran indefinitely a day before it was set to expire, even as plans for a fresh round of talks between the two countries fell apart. In a Truth Social post, Trump said Tuesday he would maintain a blockade over ships coming to and from Iran in the Strait of Hormuz. He said Pakistan, which had mediated between the two sides, asked for the US to hold off on fresh strikes and he was extending the ceasefire until Iran submits a new proposal “and discussions are concluded, one way or the other.” For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Wendy Benjaminson, Bloomberg News Senior Editor Terry Haines, Pangaea Policy Founder Adam Farrar, Bloomberg Economics Senior Geoeconomics Analyst Ambassador James F. Jeffrey, Philip Solondz Distinguished Fellow at The Washington Institute See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump signaled he is unlikely to extend a two-week ceasefire with Iran that’s set to expire in two days. The president said the Strait of Hormuz would stay blockaded for now, and “I’m not opening it until a deal is signed.” Iranian officials have stopped short of explicitly ruling out participation in the talks in Pakistan, reinforcing expectations that both sides are continuing to explore a deal to end the war.2) Apple announced longtime CEO Tim Cook will be replaced by John Ternus, with Ternus taking the job in September, and the company implying that he will bring continuity and help preserve Cook's legacy. Ternus is expected to bring a more decisive leadership style, moving faster and sharpening Apple's competitiveness in AI, and will oversee the launch of new products, including Apple's first foldable iPhone and a fresh start for Siri.3) Amazon is investing an additional $5 billion in Anthropic and may inject $20 billion more over time. The deal was struck at a valuation of $350 billion, and Anthropic plans to spend more than $100 billion over the next 10 years on Amazon’s cloud technologies and chips. Amazon will provide Anthropic with chips to reach about 5 gigawatts of power, and the companies said more than 100,000 customers run Claude models on Amazon Web Services. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump and Iranian officials offered disparate views on the next stage of the war, casting uncertainty over whether the two sides would meet for peace talks with a ceasefire set to expire in the coming days. Tensions in the war ratcheted up over the weekend as the US Navy fired upon and boarded an Iranian-flagged cargo ship in the Gulf of Oman, the first seizure in the US blockade of the Strait of Hormuz. That critical waterway for energy shipments remained closed early Monday after confusion over the weekend about whether tankers could transit the strait. Iran had initially said ships could pass before abruptly stopping traffic through the waterway less than 24 hours later. At a weekly press conference Monday, Iran’s Foreign Ministry spokesman Esmail Baghaei said there are "no plans for the next round of negotiations, and no decision has been made in this regard.”2) Oil jumped, pushing US stocks and Treasuries lower after a turbulent weekend in the Middle East cast doubt on the prospects for peace talks ahead of a looming ceasefire deadline. Brent rose 5.4% above $95 a barrel as the US Navy carried out its first seizure of an Iranian vessel in the Strait of Hormuz. Futures for the S&P 500 fell 0.5%, with the benchmark poised to snap a five-day winning streak during which it notched a succession of highs. European stocks declined 1%, while the technology sector drove gains in Asia. The dollar was little changed. Bond yields rose sharply in Europe, whereas moves in Treasuries were more modest. Gold dropped below $4,800 an ounce.3) A man in Louisiana killed eight children, including seven of his own, in a domestic shooting that unfolded across two homes in Shreveport early Sunday, leaving a community in shock and prompting a large police response. The gunman, identified as Shamar Elkins, 31, also critically wounded two women before being killed by officers after a pursuit. Police said the victims, ages 3 to 11, were found in a single residence, with at least one child attempting to escape from the roof. Authorities said the case appears to stem from a domestic dispute and remains under investigation. It is the deadliest U.S. mass shooting in more than two years. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – we preview Tesla earnings and Kevin Warsh's trip to Capitol Hill In the UK – we look ahead to first quarter European earnings amidst broader headwinds In Asia – how the war in Iran is impacting Japanese inflation.  See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.   On today's podcast:   1) President Donald Trump claimed Iran has made key concessions in an ongoing negotiation to end the seven-week war, while a ceasefire between Israel and Hezbollah in Lebanon increased the prospect of a broader peace.Trump said it may not be necessary to renew an April 7 truce with the Islamic Republic before it expires next week, defying expectations that an extension will be needed to allow more time for diplomacy.   2) Some leaders in Arab states in the Persian Gulf and Europe expect it will take about six months to agree to a peace accord and that the ceasefire should be extended to cover that period, according to officials familiar with the matter, who asked not to be identified discussing private talks. That’s in part to allow for a reopening of the critical Strait of Hormuz waterway, they said.   3) Netflix Inc. gave a forecast for the second quarter that fell short of analysts’ expectations, sending the shares tumbling in extended trading.The streaming pioneer also announced that Chairman and co-founder Reed Hastings is stepping down from the board at the company’s annual meeting after 29 years to pursue philanthropy and personal interests. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of renewed fighting despite an intensifying standoff over the Strait of Hormuz. With the initial truce due to expire next week, mediators are seeking technical talks to overcome the most contentious issues preventing a longer-term agreement, said the person, who asked not to be identified discussing sensitive matters. Those include reopening Hormuz and the future of Iran’s nuclear program. Tensions remain high over the strait, a critical waterway for oil and gas that’s been effectively shuttered since the start of the war almost seven weeks ago. The US has set up a naval blockade to cut off Iranian shipments, and said Wednesday that 10 vessels have been forced to turn around. Tehran is keeping the strait closed to most other traffic. The US hasn’t “formally requested an extension of the ceasefire,” White House Press Secretary Karoline Leavitt told reporters Wednesday. But she acknowledged “we remain very much engaged in these negotiations.”2) Stocks set new highs as an upbeat forecast from Taiwan Semiconductor Manufacturing Co. added fuel to technology shares amid rising optimism that the US and Iran are seeking more time to negotiate a peace deal. Futures for the S&P 500 rose 0.2% after the benchmark closed above the 7,000 mark for the first time. Nasdaq 100 contracts rose 0.4% as TSMC’s raised revenue outlook highlighted the resilience of AI chip demand. Adding to the upbeat mood in tech, Elon Musk’s lieutenants have sought quotes and delivery times for chipmaking equipment for his envisioned Terafab. Meanwhile, Brent fluctuated around $95 a barrel as the US and Iran considered a two-week ceasefire extension. Global bonds rose, led by gains in Europe where central bank policymakers signaled they’re in no rush to raise interest rates. The dollar was little changed while gold rose toward $4,825 an ounce. Wall Street veteran Ed Yardeni says investors are looking past the war in the Middle East and focusing on market fundamentals.3) Live Nation Entertainment Inc.’s loss in a landmark antitrust trial follows years of regulatory scrutiny of its dominance in the live events business and sets the stage for a possible breakup of the largest US concert promoter and ticket seller. After a six-week trial in Manhattan, which featured testimony from high-profile figures in the music industry and Live Nation Chief Executive Officer Michael Rapino, a federal jury on Wednesday ruled the company illegally monopolized the live events industry and overcharged fans for tickets to music performances. The verdict marked a major win for a coalition of 33 states and Washington DC that pursued the case despite the US Justice Department’s decision to pull out after the first week of the trial, with a surprise settlement allowing Live Nation to keep its Ticketmaster unit. But jurors concluded the company illegally monopolized ticketing and tied Live Nation venues to its promotion business, leading concert goers to overpay by $1.72 per ticket. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump indicated he may be preparing to wind down the war with Iran, boosting market optimism and restoring some stability to global energy prices. Peace talks with the Islamic Republic might restart “over the next two days,” the New York Post cited the president as saying. In a separate interview with ABC News, he said extending a two-week ceasefire that was clinched last week after nearly six weeks of fighting may not be necessary, hinting at significant near-term progress without elaborating. There are signs Tehran is also trying to avoid escalation, with authorities considering a pause in shipments through the strategic Strait of Hormuz to avoid testing a US blockade and jeopardizing fresh negotiations. The shift in the narrative from Washington — from announcing a total blockade of Hormuz to expectations of a possible breakthrough — has left many questions unanswered, including the fate of Iran’s enriched uranium.2) Former Treasury Secretary and ex-Federal Reserve Chair Janet Yellen said she still sees prospects for a US interest-rate cut later this year, though the unfolding oil shock caused by the war in Iran clouds the outlook. “This is really a broad supply shock,” spreading from pump prices to LNG, fertilizers, food, shipping costs, and semiconductors, Yellen said at the HSBC Global Investment Summit in Hong Kong on Wednesday. While the need to raise rates can’t be ruled out, stable long-run inflation expectations suggest that scenario remains unlikely for now, Yellen said. Minutes of the Fed’s March 17-18 meeting, released last Wednesday in Washington, showed a growing number of officials worried the Iran war could further stoke inflation and wanted to make clear that the central bank may have to consider raising interest rates. In projections released after that meeting, policymakers had signaled an expectation for one interest-rate cut in 2026, unchanged from their December forecasts.3) President Trump’s tariffs may be restored by July to the levels in place before the Supreme Court struck down many of his levies, Treasury Secretary Scott Bessent said. The Treasury secretary said because the Section 301 tariff authority has already been tested in the courts, business leaders are able to start planning and making decisions around capital expenditures. Trump is seeking to restore his tariff wall using different authorities after the high court ruled that his use of emergency powers to impose those earlier duties was unconstitutional. After the Supreme Court struck down many of his global tariffs, Trump imposed a temporary 10% tariff that covers many imports. That levy is set to expire on July 24. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran are weighing further negotiations to extend a two-week ceasefire as President Trump presses ahead with a naval blockade to curb the Islamic Republic’s oil exports, a step aimed at extracting concessions in peace talks. The objective is to hold fresh discussions before the truce announced April 7 expires next week, according to people familiar with the matter. “We’ve been called this morning by the right people, the appropriate people, and they want to work a deal,” Trump said at the White House on Monday, hours after the US Navy began implementing the blockade of the strategic Strait of Hormuz to cut off vessels transiting to and from Iranian ports and coastal areas. The latest push shows the two sides haven’t given up on diplomacy after their first round of direct negotiations in Pakistan failed to produce an agreement. The war, which began when the US and Israel launched a bombing campaign against Iran on Feb. 28, has left thousands dead, damaged infrastructure and disrupted energy flows beyond the Persian Gulf, rattling markets and triggering a global price spike. 2) Chinese President Xi Jinping lamented a world in “disarray,” using some of his strongest language yet to describe a collapse of the Western-led international order as he vowed to play a constructive role in the Middle East. “The international order is crumbling into disarray,” Xi told Spanish Prime Minister Pedro Sánchez on Tuesday in Beijing, using a Chinese phrase indicating not only chaos but also moral decay. The comments, part of Xi’s first public statements on the Iran war since the conflict began more than a month ago, followed a flurry of visits by world leaders to Beijing and fresh economic data on Tuesday showing the war took a sharp toll on Chinese exports in March. Xi has framed his country as a stabilizing force in a world thrown into turmoil by President Trump’s erratic approach to trade and foreign policy. In an earlier meeting with Abu Dhabi Crown Prince Sheikh Khaled bin Mohammed, Xi reiterated that China would continue to play a “constructive role” in the Middle East.3) Democrat Eric Swalwell and Republican Tony Gonzales said they plan on leaving their congressional seats in the wake of allegations of sexual misconduct. “I am deeply sorry to my family, staff, and constituents for mistakes in judgment I’ve made in my past,” Swalwell said in a post on X on Monday announcing his intent to resign. He vowed to “fight the serious, false allegations made against me,” but also said he “must take responsibility and ownership for the mistakes I did make.” Shortly after, Republican Representative Tony Gonzales of Texas said in a separate said in a separate social media statement that he planned on filing his retirement from office “when Congress returns tomorrow.” Gonzales faced calls to resign after allegations that he had an affair with a staffer who later died by suicide. A growing number of lawmakers had called for the resignation of both men, arguing the allegations against them tarnished their ability to remain in Congress, with some calling for their expulsion. The resignations leave the Republicans’ slim majority in the US House of Representatives unchanged. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said the US will begin a full naval blockade of the strategic Strait of Hormuz and threatened to retaliate in the event of Iranian resistance, escalating a standoff that has already brought the waterway to a near standstill and disrupted global energy supplies. The president’s announcement came hours after the US and Iran failed to reach a deal in direct talks in Pakistan, jeopardizing hopes of turning a fragile ceasefire into a lasting end to a war that has claimed thousands of lives. The negotiations collapsed because of differences over the nuclear issue, Trump said in a Truth Social posting on Sunday. The US military said Sunday that it would begin the blockade at 10 am New York time on Monday.2) Peter Magyar, Hungary’s next prime minister, outlined sweeping changes after ending Viktor Orban’s 16-year rule in a landslide election victory that will redefine the country’s ties with the European Union, Russia and the US administration of President Trump. Magyar, a 45-year-old former insider of Orban’s nationalists, said the overwhelming victory for his Tisza party — translating into a two-thirds parliamentary majority — gave him a mandate to dismantle Orban’s increasingly authoritarian system and bring Hungary back into the European fold. Orban conceded the defeat, telling supporters that the result was “painful” for him. Magyar, whose conservative-leaning party has sought to unite disgruntled voters, called on the country’s president, top justices and chief prosecutor to all hand in their resignations during his victory speech in front of a cheering crowd in Budapest on Sunday. Magyar said they had put their political allegiance to Orban’s authoritarian system above their office’s responsibilities.3) US Representative Eric Swalwell suspended his bid for governor of California after a series of sexual assault allegations threw his campaign into turmoil and prompted backers to flee. “I am suspending my campaign for governor,” Swalwell said in a post on social media on Sunday evening. He apologized to his supporters, adding “I will fight the serious, false allegations that have been made — but that’s my fight, not a campaign’s.” Swalwell’s exit upends a competitive and crowded race to lead the most populous US state. The 45-year-old, seven-term congressman from the San Fransisco Bay area, had been polling among the top Democrats to succeed Gavin Newsom, who is barred from seeking re-election because of term limits. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from Netflix and a focus on three bank stocks for the week ahead. In the UK – a look ahead to the next election in Hungary. In Asia – a look ahead to Spain Prime Minister Pedro Sanchez's trip to China. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump demanded Iran reopen the Strait of Hormuz, raising pressure on Tehran before talks to turn a fragile ceasefire into lasting peace. The truce remains shaky, with Kuwait reporting large-scale drone attacks on “vital” facilities overnight into Friday and accusing Iran and its proxy groups of violating the ceasefire announced by Washington and Tehran two days earlier. The war has already killed thousands of people and damaged energy infrastructure across the oil-rich Persian Gulf. US and Iranian delegations are set to meet in Pakistan on Saturday, with shipping through Hormuz — which handled about a fifth of the world’s oil and liquefied natural gas before the war — a central sticking point.2) Israeli Prime Minister Benjamin Netanyahu said he agreed to hold direct talks with Lebanon about the conflict, with the focus on disarming Hezbollah. Trump called the Israeli leader on Wednesday and asked him to scale back strikes to ensure the success of negotiations with Iran, NBC reported, citing an unidentified senior administration official. Iranian President Masoud Pezeshkian said Israel’s strikes in Lebanon are a “clear violation” of the ceasefire and “will render negotiations meaningless.”3) Oil rose a second day after Saudi Arabia said its production capacity has been reduced due to attacks on energy infrastructure, but futures remain on track for their biggest weekly loss since June. Saudi Arabia’s press agency said the nation’s production capacity has been cut by around 600,000 barrels a day due to attacks on energy infrastructure. That figure accounts for roughly 10% of the kingdom’s normal crude exports, according to Bloomberg calculations. Meanwhile, strikes on a pumping station serving the East-West pipeline — which Saudi Arabia has been using to export crude via the Red Sea — crimped daily throughput by 700,000 barrels this week, according to the report. Kuwait also said it was intercepting drone attacks and that some vital facilities were targeted. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump vowed to keep US troops in the Persian Gulf ahead of talks with Iran that are planned to firm up a fragile truce, while Tehran warned there may be mines in a strategic waterway Washington wants reopened. Both sides accused each other of violating the truce that was announced Tuesday after six weeks of fighting, with a disagreement over whether the ceasefire extends to Lebanon emerging as a key flashpoint that could unravel the accord. Despite the escalating rhetoric, there were signs the ceasefire was largely holding, with a notable decline in attacks across Arab states in the Persian Gulf. Vice President JD Vance said Washington never suggested that fighting between Israel and Tehran-aligned Hezbollah in Lebanon would cease. But Iran’s Parliament Speaker Mohammad-Bagher Ghalibaf said continued attacks on Hezbollah — along with what Tehran described as an Israeli drone strike on its territory overnight — amounted to clear violations of the agreement.2) President Trump lashed out at NATO after meeting with the military alliance’s secretary general, Mark Rutte, making clear that his anger over the organization’s stance on the Iran war remained acute. “NATO WASN’T THERE WHEN WE NEEDED THEM, AND THEY WON’T BE THERE IF WE NEED THEM AGAIN. REMEMBER GREENLAND, THAT BIG, POORLY RUN, PIECE OF ICE!!!” the president wrote in a post on his Truth Social platform on Wednesday evening. Rutte, a former Dutch prime minister, was in the US on a mission to temper Trump’s public displeasure after NATO allies refused to help him protect commercial ships in the Strait of Hormuz or let the US use some of their bases to attack Iran during the war that began on Feb. 28. Trump has also revived his grievance that NATO countries wouldn’t give him Greenland, a Danish territory.3) A growing number of Federal Reserve officials worried the Iran war could further stoke inflation and wanted to make clear following their March meeting that the central bank may have to consider raising interest rates. Minutes of the Federal Open Market Committee’s March 17-18 meeting, released Wednesday in Washington, showed policymakers wrestled with starkly differing scenarios for the US economy following the outbreak of the Iran war, and the policy reactions that might follow. Most officials worried a protracted war could hurt the labor market and warrant lower interest rates. At the same time, many policymakers highlighted the risk to inflation that might ultimately warrant rate increases. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz, a last-ditch deal that averted President Trump’s threatened escalation of the war. Trump announced the agreement on social media Tuesday, hours after mediator Pakistan implored him to back off his deadline to unleash massive devastation on Iran if it didn’t meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week conflict, which has killed thousands of people and sparked a global energy crisis.2) Oil and gas prices both plummeted after the US and Iran's announced ceasefire. Brent fell as much as 16% before trading around $95 a barrel, while European natural gas futures posted their biggest decline in more than two years, shedding as much as 20%. Prices of refined fuels such as diesel and jet fuel — which had been the biggest threats to global inflation — also tumbled. Much will now depend on how quickly transit through Hormuz can resume. It’s the route for about a fifth of global oil and liquefied natural gas supplies, and the near-halt of traffic has pushed prices for real-world crude to a record. Faced with an unprecedented disruption to flows, the world is rapidly running down supply buffers to offset the loss. 3) Republican Clay Fuller is projected to win a US House seat in a deeply conservative Georgia district even as Democratic gains serve as an early warning for Republican lawmakers navigating President Trump’s threats of a widening war in Iran and voters’ growing economic unease. With 83% of the votes counted, Fuller had 57% compared to 43% for the Democratic candidate, Shawn Harris, according to Decision Desk HQ. That would keep the seat vacated by conservative firebrand Marjorie Taylor Greene in Republican hands, but by a narrower margin than in recent elections. Trump had carried the district by 37 percentage points in 2024. See omnystudio.com/listener for privacy information.

The US and Iran agreed to a two-week ceasefire that’s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz.President Donald Trump announced the agreement Tuesday on social media hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week-old war, which has killed thousands of people and sparked a global energy crisis.Trump said he had agreed “to suspend the bombing and attack of Iran for a period of two weeks” as long as Iran agrees to “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with:Bloomberg State Department and Foreign Policy Reporter Eric MartinBloomberg This Weekend co-host Christina RuffiniBloomberg White House and Washington correspondent Jeff MasonTerry Haines, founder of Pangea PolicyDaniel Byman, Director of the Warfare, Irregular Threats, and Terrorism Program at the Center See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump’s latest deadline for Iran to agree to a deal is just hours away, and investors are once again finding themselves forced to prepare for a range of possible outcomes. Trump insisted that freedom of navigation through the Strait of Hormuz be part of any deal to end the Middle East war and escalated threats to obliterate key Iranian infrastructure if his terms aren’t met before a Tuesday deadline. Trump said Monday that talks with Iran are “going well” and that reopening the strait is “a very big priority.” The president in recent weeks has said an agreement on the strait wasn’t among his core prerequisites for ending the conflict. Trump laid bare the consequences Iran would face if it doesn’t reach a deal by his Tuesday 8 p.m. Eastern Time cut-off, saying the US military could destroy “every bridge in Iran by 12 o’clock tomorrow night.” Power plants would be rendered “burning, exploding and never to be used again,” he said. Attacking civilian infrastructure is barred by the Geneva Conventions, but Trump said he was “not at all” concerned about committing war crimes.2) NASA’s four Artemis astronauts swung behind the moon and are headed home, in a journey that shattered space travel distance records and brought people the closest they’ve been to the lunar surface in more than 50 years. At their nearest distance to the moon, the Artemis II’s Lockheed Martin Corp.-built Orion capsule came within an estimated 4,067 miles of the lunar surface, according to calculations by NASA. From the crew’s point of view, the moon would have appeared roughly the size of a basketball in someone’s outstretched hand. The spacecraft reached its maximum distance from Earth minutes later, reaching 252,756 miles, NASA Administrator Jared Isaacman said in a post on X. The astronauts earlier broke the distance record for space travel. Shortly before 2 p.m. New York time on Monday, they surpassed the distance the Apollo 13 crew traveled in 1970 of 248,655 miles (400,170 kilometers) from Earth, NASA said.3) The University of Michigan Wolverines basketball team its second national title in men's basketball and first since 1989, beating the UConn Huskies by a score of 69-63. Michigan shot just two three-pointers all game, but relied on defense, holding UConn to under 31% shooting. Final Four Most Outstanding Player Elliot Cadeau led with 19 points. UConn’s bid for a third title in four seasons fell short, despite 22 offensive rebounds in the championship match. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast:1) President Trump issued increasingly aggressive threats to destroy Iran’s power plants starting Tuesday and bring “Hell” to the country following the rescue of a US airman more than a day after his fighter jet was shot down. Iran rejected Trump’s latest ultimatum to reopen the Strait of Hormuz, saying it would only fully resume operations when war damage is compensated. Tehran continued striking energy targets in Gulf neighbors, including Kuwait’s oil headquarters. Trump, in renewing his threats to target Iran’s civilian infrastructure, used an expletive in a social media post and told Axios he would be “blowing up everything over there” if Iran doesn’t make a deal. He said he plans a news conference at 1 p.m. on Monday and posted about a Tuesday 8 p.m. deadline, without offering details.2) Japanese Prime Minister Sanae Takaichi said she is looking to hold talks with Iran’s leader and possibly also a separate call with President Trump, as the clock ticks on the US president’s latest threat to bomb key Iranian infrastructure. “We are currently making preparations for leadership level talks,” Japan’s Takaichi said of talks with Iran during a parliamentary session Monday. “We will continue to do everything in our power to find an off-ramp to this situation and return to peace.” Takaichi’s comments came with Trump warning Tehran that the US will bomb Iranian power plants unless it opens up the Strait of Hormuz, a choke point through which Japan secures over 90% of its oil. Takaichi said that Japan would do what it can ahead of the Tuesday ultimatum set by Trump, suggesting that she was also seeking a phone call with Trump, though nothing has been finalized yet. Whether Japan can help defuse tensions or even play a mediation role remains unclear, but the nation has a key interest in maintaining a working relationship with a country that currently controls passage through the Strait of Hormuz.3) Saudi Arabia has raised the price of its main oil grade to Asia to a record high premium, as a widening conflict in the Persian Gulf and Iran’s near-closure of the Strait of Hormuz convulse energy markets. State oil producer Saudi Aramco will increase flagship Arab Light crude prices for May sales to a premium of $19.50 over regional benchmarks for refiners in Asia, according to a price list seen by Bloomberg. Still, the level is less than the $40 a barrel premium anticipated by traders and refiners in a Bloomberg survey. The gap with market expectations is in part because of a volatile market, and as prices of some Middle Eastern grades dipped in the last week of March, according to traders. Aramco’s oil is also priced for loading in the Persian Gulf port of Ras Tanura, though all of the company’s exports are currently being shipped from the port of Yanbu on the Red Sea coast. Buyers typically incur additional costs to collect those barrels. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings for Delta Airlines and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the new tax year in the UK. In Asia – a look ahead to China CPI and PPI data. See omnystudio.com/listener for privacy information.

On this special Good Friday Holiday edition of Bloomberg Daybreak, host John Tucker discusses: Big bank earnings with Bloomberg Intelligence Senior US Banks Analyst Herman Chan and Bloomberg Intelligence Financials Analyst Neil Sipes A year after Elon Musk set out to slash jobs at the IRS, the agency is struggling to meet demands amid a busy filing season. For more, we hear from Bloomberg Law Reporter Erin Slowey. Well you may be seeing a little less of the candy this Easter.. That's because  sales are projected to drop.. For details, we speak with Bloomberg's Diana Rosero-Pena. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump finally tried to sell the American public on his Iran war. But his primetime address five weeks into the messy conflict instead underscored the US president’s growing defensive posture, as pressure mounts on global shipping routes, gas prices and his political party. Trump said the US operation was close to completion, in an attempt to reassure a skeptical public. Still, the speech lacked new announcements — most notably a precise timeline for an exit. He also pledged more aggressive actions in the next two to three weeks, including potential strikes on electrical plants. The president also did not present any new arguments or explanations for the war, instead reiterating his desire to destroy Iran’s military and nuclear capabilities. Likewise, there was no concrete plan for reopening the Strait of Hormuz, a vital energy thoroughfare. While he said diplomatic discussions continue, he shared no breakthroughs on ending the conflict. Treasury yields climbed and the dollar pushed higher as Trump’s remarks triggered gains in crude oil. US equity futures retreated.2) European allies are skeptical President Trump will actually pull the US out of NATO. But they still fear the president’s renewed threats to do so are eroding the military alliance at a precarious moment. Trump on Wednesday capped mounting US critiques of the North Atlantic Treaty Organization with a suggestion that he was strongly considering leaving the alliance. His comments came after Secretary of State Marco Rubio, typically seen as Washington’s NATO defender, chided the alliance for its “very disappointing” response to the war in Iran. While the rhetoric isn’t particularly novel — Trump and his cohort have long bashed NATO allies as free-loaders who don’t help the US — the president’s latest ire is posing a greater risk to the alliance as his war in Iran deepens and he looks for people to blame, according to officials familiar with discussions among allies.3) NASA’s crew of astronauts launched to space and reached a stable orbit, kicking off a landmark journey that will take them closer to the lunar surface than anyone has been in more than 50 years. The initial phase of the 10-day mission to lap the moon, a multibillion-dollar feat about a decade in the making, clears a major hurdle for NASA and its legacy aerospace contractors as the agency works to establish a base on the lunar surface and ultimately venture to Mars. The crew’s Lockheed Martin Corp.-built Orion capsule, stacked on the shoulders of Boeing Co.’s Space Launch System rocket, thundered off the launchpad at 6:35 p.m. local time at Kennedy Space Center in Florida. The rocket system, taller than the Statue of Liberty, reached speeds of around 17,500 miles per hour as it hurtled to space. It blazed a trail of fire and smoke as it climbed and eventually shed its spent side boosters, which provided extra thrust. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz. Trump indicated that it was possible that Iran could still reach a deal with the US during that timeframe but said an agreement with Tehran was not necessary for the war to end. Trump added the US would leave when Iran was not able to obtain nuclear weapons and claimed the regime now in power was better than the leadership before the war.2) Oil tumbled after President Trump again signaled a potential end to the Iran war. Brent crude fell below $100 a barrel, while West Texas Intermediate was around $97. Trump told reporters that the US could leave Iran within two to three weeks, and indicated an agreement with Tehran may be reached but wasn’t necessary for the conflict to end. The president will give an address to the nation at 9 p.m. Eastern time on Wednesday to provide an update, White House Press Secretary Karoline Leavitt said. Trump has regularly vacillated between saying an Iran deal is imminent and warning he’s prepared to ramp up military operations.3) The Supreme Court is set to hear arguments on President Trump's assertion that the 14th Amendment's citizenship provision was designed to cover only the children of freed slaves, amid his executive order to block citizenship for children of undocumented immigrants and temporary visitors. Trump will attend the oral arguments at 10am ET on Wednesday, according to his official schedule from the White House. Critics say Trump is seeking to rewrite the 14th Amendment, which promises citizenship to "all persons" born in the US and "subject to the jurisdiction thereof", a provision many scholars and public officials say is straightforward in its breadth. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran hit a fully laden Kuwaiti oil tanker off Dubai in a drone attack, a sign it’s willing to escalate strikes on energy sites and infrastructure as the war drags on. Despite the attack, crude prices were steady in early trading, with US benchmark prices trading at about a $102 a barrel. That was partly because of a report in the Wall Street Journal saying US President Donald Trump is willing to wind down hostilities and pressure Tehran diplomatically to reopen the Strait of Hormuz.2) US gasoline climbed above an average of $4 a gallon for the first time since August 2022, one of the most visible measures of consumer pain in the world’s largest economy resulting from the war in Iran. The nationwide average retail price for regular unleaded gas rose to $4.018 a gallon on Monday, according to the American Automobile Association. Prices have surged by more than $1 since the start of the war, up from $2.98 on the day before the US and Israel launched attacks against Tehran.3) Unilever Plc said talks to sell most of its food business to McCormick & Co. are advanced and a final deal could be announced later on Tuesday in a historic move that will transform both companies. The Anglo-Dutch maker of Hellmann’s mayonnaise will offload most of its food unit, excluding some parts like its operations in India, for $15.7 billion cash upfront and the rest in McCormick equity, according to a statement Tuesday. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US and Israeli forces pressed ahead with attacks on Iran while the Islamic Republic launched missiles across the Persian Gulf, sending oil prices higher once again amid no sign of an imminent peace deal. The Israeli military said on Monday that it’s carrying out airstrikes on Iranian military targets a day after attacks resulted in power outages in the capital, Tehran, and nearby areas. The United Arab Emirates issued multiple alerts overnight and Saudi Arabia and Kuwait reported strikes.2) Treasuries firmed, supporting US stocks, as fears that the war in the Middle East will trigger a sharp economic slowdown prompted traders to dial back bets on higher interest rates. Brent hit $116 a barrel.3) The Trump administration is planning to let a Russian oil tanker dock in Cuba, alleviating an energy crisis triggered when the US prohibited deliveries to the Communist regime.The shipment of crude is expected to be allowed to arrive in coming days, according to two people familiar with the matter, who asked not to be identified without permission to speak publicly. See omnystudio.com/listener for privacy information.

If you want to build a diversified portfolio, you need to assemble assets that respond to different return drivers. Digital assets can play a central role. For starters, cryptocurrencies like bitcoin behave differently than traditional equities or commodities, giving portfolios exposure to unique sources of risk and return. And within the crypto universe, you can find coins, protocols, and equities that all behave differently under different market conditions. By investing in a wide range of digital assets you can potentially both mitigate risk and improve returns.  This episode is sponsored by Coinbase. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the March jobs report in the U.S and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the upcoming South Africa Investment Conference. In Asia – a look ahead to South Korea shareholder meetings.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Senate passed legislation early Friday to fund most of the Department of Homeland Security, forging a path to end a lengthy partial government shutdown that snarled airport security and threatened to ripple through an economy already roiled by the Iran war. The bill, which must still pass the House and be signed by President Donald Trump, marks an abrupt reversal for Republicans, who had blocked similar proposals backed by Democrats to partially fund the department for weeks. The legislation passed the Senate by voice vote.2) President Donald Trump again pushed back his deadline for Iran to strike a deal with the US or face more attacks, saying talks with the country were going “very well.” Trump said he would extend by 10 days his pledge to refrain from attacks on Iranian energy sites, his second extension since Saturday’s threat to eviscerate Iran’s power plants in the absence of a deal.3) Anthropic PBC is considering going public as soon as in October, according to people familiar with the matter, as the artificial intelligence company races with rival OpenAI Inc. to hold an initial public offering.The maker of the popular Claude chatbot has had early discussions with Wall Street banks about taking leading roles on a potential listing, the people said, asking not to be identified as the information isn’t public. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The White House has insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. President Trump claimed Iran was desperate to make a deal to end the nearly month-long hostilities. “They want to make a deal so badly, but they’re afraid to say it,” Trump told congressional Republicans Wednesday night in Washington. The comments ran counter to Iran’s earlier statements through state-run media publicly rejecting Trump’s push for talks. Tehran is also seeking its own guarantees, including that the US and Israel won’t resume their attacks, reparations for war damages and recognition of its authority over the Strait of Hormuz, according to state-owned Press TV.2) Ticket prices on major routes connecting Asia and Europe have surged up to 560% this month and are likely to stay elevated through the summer and into fall as war-related disruptions ripple through the Persian Gulf, the world’s busiest transit corridor, according to Alton Aviation Consultancy. For June travel, fares across seven popular Asia-Pacific to Europe routes are averaging about 70% higher than a year ago, based on Alton’s analysis of data from analytics firm Cirium and online travel agencies. A Sydney-to-London ticket now averages more than $1,500, roughly double last year’s price. Fares include direct and one-stop flights, as well as transits through Gulf airports. Prices are expected to remain about 30% above last year’s levels even as far out as October.3) Officials in Germany have started mapping vulnerabilities in US supply chains to identify points where Germany and its European Union partners could apply pressure, according to people familiar with the effort. Their goal is to create a consensus among EU nations on how they can use their leverage, if and when they get drawn into another dispute with the White House. The initial findings suggest ways to target the massive US tech firms with close ties to the White House, the officials said. Other options could aim for the AI investment boom that has helped to drive US stocks to record highs this year or push up drug prices for American voters, an issue the president has already shown he’s sensitive to. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran kept up missiles and drone attacks on Arab Gulf states and Israel overnight, after the US floated a proposal to end a war that’s wreaked havoc across the Middle East and in global markets. Saudi Arabia intercepted a drone in the east of the country, while a strike targeting Kuwait set ablaze a fuel tank at its main airport. Iranian media said more missiles were fired at Israel. There were no reports of casualties in any of the incidents. The US sent Iran a 15-point plan, which Pakistan delivered, according to people familiar with the matter, highlighting the urgency within the Trump administration to resolve the conflict it started as the economic toll mounts. The details remain unclear, though President Trump has publicly signaled that any peace agreement would have to include a prohibition on Iran ever obtaining a nuclear weapon or enriching radioactive material for civilian purposes. Iran has yet to comment on the proposal. Trump, when he first announced talks with the Islamic Republic on Monday, implied he hoped to get an agreement by Friday. That may be difficult given the wide gaps that remain between the sides, with several Iranian officials saying the country isn’t ready to negotiate and that Trump is merely trying to calm markets and push down oil prices.2) A system designed to help air-traffic controllers monitor vehicles and airplanes on the ground failed to alert personnel at LaGuardia Airport before an Air Canada Express jet collided with a fire truck late Sunday evening, killing the two pilots. An analysis found the system, known as ASDE-X, issued no alert to the two controllers in the tower due to “the close proximity of vehicles merging and unmerging near the runway,” US National Transportation Safety Board Chair Jennifer Homendy said during a press conference on Tuesday. The Port Authority of New York and New Jersey fire truck involved in the crash also wasn’t equipped with a transponder that would have helped pinpoint its location, Homendy said. The Federal Aviation Administration last year encouraged airports with ASDE-X to voluntarily equip their vehicles with special transmitters to “improve airfield safety.”3) Senate Democrats have rejected the latest offer from President Trump and Republicans to fund most of the Department of Homeland Security and end a lengthy shutdown that has snarled airport security checkpoints and threatened to ripple through an economy already roiled by the Iran war. The Republican plan does not include any of the policy proposals Democrats have insisted on in their fight to overhaul Immigration and Customs Enforcement tactics following the killings of two protesters in Minneapolis by agents earlier this year. Senate Democratic Leader Chuck Schumer told reporters his party would send a counter-offer to Republicans, which would include changes to immigration enforcement. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Fighting between Iran and the US-Israeli alliance continued unabated, even as President Trump claimed talks are under way to end the conflict. Iran launched overnight missile and drone attacks on the Israeli cities of Eilat, Dimona and Tel Aviv, as well as US bases in the Middle East. Saudi Arabia said it intercepted a drone in its eastern region, and Kuwait said some power lines were put out of service after an Iranian attack. Sirens sounded in Bahrain. In Iran, the Fars news agency reported US-Israeli attacks that damaged a gas pressure-regulation plant and an administrative building in the central city of Isfahan. There was also a strike on a pipeline supplying gas to the Khorramshahr Combined Cycle Power Plant in southwestern Iran, according to Fars. The attacks continued after Trump postponed strikes on Iran’s energy infrastructure, citing “productive conversations” with Tehran. The US president’s claims of behind-the-scenes diplomacy were widely denied by Iranian officials, causing confusion over the participants in the talks and the parameters of a potential deal.2) Saudi Arabia and the United Arab Emirates have taken steps toward joining the Iran war, the Wall Street Journal reported, potentially signaling an escalation of the fighting. Saudi Arabia agreed to give the US military access to King Fahd Air Base, the WSJ reported, citing people familiar with the matter, an apparent reversal after saying its bases couldn’t be used to attack its longtime rival. The newspaper also cited people familiar as saying the United Arab Emirates closed an Iranian-owned hospital and club — undercutting a key source of support for Tehran.3) Senators in both parties expressed rising optimism late Monday about reaching an agreement to end the five-week partial shutdown of the Department of Homeland Security, which has increasingly snarled air travel across the United States. After Republican senators met at the White House with President Trump on Monday, Senator Katie Britt of Alabama, a key negotiator, said she thought they had a solution to the impasse. On the floor she could be seen talking with members of both parties including Chuck Schumer, the Democrat leader. Schumer said “both sides are working in a serious way” as he left the Capitol after a day that began when Trump soured the talks with demands that Republicans tie passage of the partisan SAVE America Act voting legislation to Homeland Security funding.  See omnystudio.com/listener for privacy information.

Stocks and bonds rebounded after President Donald Trump said the US and Iran had “very good” conversations about an end to the conflict in the Middle East.  President rump said strikes against Iranian energy infrastructure and power plants would be postponed for five days following the start of talks with Iran to end the war.  For details on this development, Tom Keene and Paul Sweeney speak with Bloomberg Middle East Reporter Joumanna Bercetche, Silvercrest Asset Management Head of Investment Policy & Strategy Robert Teeter, and Veda Partners Co-Founder Henrietta Treyz. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) Iran carried out fresh strikes across the Persian Gulf hours before President Trump’s deadline to reopen the Strait of Hormuz expires, as the waterway’s closure continues to rattle global energy markets. The United Arab Emirates reported drone and missile attacks by the Islamic Republic overnight into Monday. Israel launched a wave of airstrikes on infrastructure in Tehran and said it’s preparing to expand ground operations in Lebanon, where it’s fighting Iran-aligned Hezbollah. Trump’s 48-hour ultimatum to “fully open” the vital strait — a conduit for about a fifth of global oil and liquefied natural gas exports — expires at 7:44 p.m. eastern time on Monday, after which he’s threatened strikes on Iran’s power plants. Should such an attack occur, Iran has threatened to hit power and water plants across the region. One senior Iranian official said on social media that the headquarters and assets of financial entities that buy US Treasury bonds are “legitimate targets.” 2) Global bond yields have risen to the highest since May 2024 as a surge in energy costs due to the Middle East conflict leads traders to position for central bank interest-rate hikes. US yields are perched at their highest in months after a third straight week of bond losses on speculation the Federal Reserve may be compelled to raise borrowing costs to combat inflation. Australia’s 10-year yields climbed to the highest level since 2011 on Monday, while those in New Zealand are at the highest since May 2024. India’s 10-year yield rose to a level last seen in January 2025. Japanese and South Korean bond yields also climbed, while European bond futures dropped.  3) Oil gained from the highest close since mid-2022, as investors assessed President Donald Trump’s two-day ultimatum to Iran to reopen the Strait of Hormuz and Tehran’s threat of reprisals. Brent rose above $113 a barrel, up for a fifth day, while West Texas Intermediate was near $100. Global benchmark Brent has surged by more than 50% since the strikes by the US and Israel on Iran began in late February. The conflict has shown no signs of abating, with key petroleum-product markets rallying even harder than crude. That’s threatened to unleash a wave of global inflation, bringing turmoil to financial markets from commodities to stocks and bonds. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Alexis Christoforous take a look at some of the stories we'll be tracking in the coming week. In the US – a look at to what we can expect for  mortgage rates in 2026. In the UK – we preview Denmark's upcoming snap elections In Asia – a discussion on what we can expect when EV maker BYD releases earnings See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran pressed ahead with attacks on Arab states in the Persian Gulf even after Israel signaled it would refrain from hitting the Islamic Republic’s energy infrastructure, fueling volatility in markets roiled by the war in the oil-rich region.2) Oil headed for another weekly gain as the war in the Middle East dragged on, with the Strait of Hormuz all-but-closed, strikes continuing across the region, and analysts warning the crisis may deepen.3) Sanae Takaichi had warned her first summit with Donald Trump in Washington could be “extremely difficult,” after the US asked her to deploy warships to Iran. Instead, she showcased Japan’s deep ties with the US — and her own agility on the world stage. Takaichi smiled politely during the only obvious moment of tension during their Oval Office meeting on Thursday, when Trump referenced the Japanese attack on Pearl Harbor in 1941. Otherwise, the Republican leader praised Takaichi, highlighted new areas of economic cooperation and pledged to speak up for Tokyo when he eventually meets Chinese President Xi Jinping. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump sought to stop attacks on energy facilities in the Middle East after Israel and Iran struck key targets, fueling concern that a prolonged war will cause lasting damage to oil and gas infrastructure. Iran unleashed waves of retaliatory strikes on projects in Arab countries across the Persian Gulf overnight into Thursday after its prized South Pars gas field — part of the world’s largest gas field shared with Qatar — came under Israeli fire, jolting markets.2) A Qatari complex housing the world’s largest liquefied natural gas export plant suffered “extensive damage” amid a sharp escalation of attacks on energy facilities across the Persian Gulf.3) Federal Reserve Chair Jerome Powell made it clear the US central bank won’t cut interest rates again until inflation resumes cooling. And that’s before it even starts considering the possible impact of the war in the Middle East. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iranian attacks on Israel and Arab states in the Persian Gulf continued overnight into Wednesday, while President Donald Trump said the US could end the war with the Islamic Republic “in the near future.”Iran launched fresh waves of missile and drone attacks, targeting the United Arab Emirates, Saudi Arabia and Kuwait. It also struck Tel Aviv and killed two people.2) President Donald Trump is desperate to reopen the Strait of Hormuz to ease a growing global energy crisis. He won’t achieve that easily without a ceasefire in the war on Iran.Iran’s sporadic attacks on vessels and the threat of mines have cut traffic in the vital waterway to a trickle, effectively putting Tehran, not outside naval forces, in charge of the flow. The strait carries about a fifth of the world’s oil supplies, and the disruption has led to production cuts, fuel shortages and price increases from Asia to Europe and Africa.3) Illinois Lieutenant Governor Juliana Stratton won the Democratic nomination for the state’s US Senate seat on Tuesday, beating a rival who far out-spent her and handing a victory to her boss and potential 2028 presidential candidate, Governor JB Pritzker.With more than 80% of the ballots counted, Stratton garnered 40% while Representative Raja Krishnamoorthi took 33%, according to Decision Desk HQ. Representative Robin Kelly, who some Democrats thought would undercut support for Stratton, trailed with 18%. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran set a massive natural gas field in the United Arab Emirates ablaze as it steps up attacks on key energy sites, while US President Donald Trump appealed to allies and the likes of China to help reopen the Strait of Hormuz.2) President Donald Trump’s request for a delay to his summit with Chinese leader Xi Jinping is a likely welcome development for Beijing, even as it threatens to inject new uncertainty into ties between the world’s two largest economies.3) US stocks fell and Treasury yields rose after attacks on key energy infrastructure in the Middle East drove a renewed advance in oil prices.Futures for the S&P 500 dropped 0.3% as optimism from the previous session faded. Brent climbed 3.6% toward $104 a barrel after Iran struck energy facilities around the Persian Gulf. Treasuries declined modestly, with the 10-year yield rising one basis point to 4.23%. The dollar was little changed.The US-Israeli war against Iran continues to reverberate, with traders focused on crude shipments through the Strait of Hormuz. Rising oil prices are fueling inflation concerns ahead of the Federal Reserve and other major central bank meetings, with US diesel topping $5 a gallon for the first time since 2022. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran denied US President Donald Trump’s assertion that it wants ceasefire talks, launching fresh attacks across the Persian Gulf and forcing a suspension of flights at Dubai’s main airport.The United Arab Emirates and Saudi Arabia reported drone and missile attacks overnight into Monday. Dubai halted flights at its main airport following a fire at a fuel tank that it said was caused by an Iranian drone. It announced a gradual resumption a few hours later, though Emirates said some of its scheduled flights for the day would be canceled.2) As the US-Israeli war on Iran enters its third week, pressure is growing on the person in the best position to end it: Donald Trump. But the US president’s ever-shifting explanations for why he went to war leave friends and adversaries at a loss to forecast when he’ll be ready to stop. And even if he does, Iran has shown little willingness to go along. Trump has gone from declaring the war over soon to calling on European and Gulf allies to help. They’re reluctant, and the likes of Russia are benefiting.3) President Donald Trump predicted Cuba wants to make a deal with the US, but said he wants to finish the war with Iran before turning his attention to the Communist island nation.“I think we will pretty soon either make a deal or do whatever we have to do,” he told reporters Sunday on Air Force One. “We’re talking to Cuba, but we’re going to do Iran before Cuba.”Under Trump, the US has been tightening the screws on Cuba, imposing an almost total fuel blockade that has exacerbated already hours-long blackouts See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to next week’s monetary policy decision from the Federal Reserve and a focus on 3 stocks for the week ahead. In the UK – a look ahead to the Bank of England and European Central Bank decisions. In Asia – a look ahead to Japanese Prime Minister Sanae Takaichi’s meeting with President Donald Trump in Washington. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) US President Donald Trump threatened Iran with further attacks after the Islamic Republic’s new leader signaled defiance and suggested there would be no easing of a war that’s upending energy flows and global markets. “We have unparalleled firepower, unlimited ammunition, and plenty of time,” Trump said on Truth Social. “Watch what happens to these deranged scumbags” on Friday, he said, referring to Iran’s leaders. 2) Stocks extended their declines as investors remained wary of risks from the Iran war heading into the weekend, with oil prices holding above $100 a barrel.Europe’s Stoxx 600 index slumped 0.9% putting the benchmark on course for a second week of losses. US futures retreated 0.4% after the S&P 500 Index slid to its lowest since November. Brent crude edged higher, trading around $102, after rallying 9.2% on Thursday. 3) Investigators worked Friday to determine the exact reason a man with a rifle crashed into a large Michigan synagogue in what federal officials are saying was an attack carried out by a 41-year-old naturalized U.S. citizen born in Lebanon. Ayman Mohamad Ghazali was killed by security after ramming into Temple Israel in West Bloomfield Township near Detroit, Michigan, and driving down a hallway in a vehicle that then caught fire, according to authorities. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Brent briefly jumped back above $100 a barrel after the Iran war led to more shipping turmoil in the Middle East and China tightened fuel export curbs to cope with the fallout from the conflict. The global oil benchmark surged as much as 10% to $101.59 a barrel, while West Texas Intermediate rose to near $96, before paring gains. Two tankers were struck in Iraqi waters and Oman temporarily cleared ships from its key export terminal outside of the Strait of Hormuz, underscoring the widening threats to energy supply and overshadowing a record reserves release by the IEA to try and cool prices. In further signs of strain, Chinese refiners have begun canceling agreed refined fuel export cargoes, including gasoline and diesel. The country’s top processors were told last week to stop signing new contracts, and the latest directive is a step up from the earlier guidance.2) Goldman Sachs Group Inc. and Citigroup Inc. have told staffers in Dubai to stay away from their offices as Iran’s attacks on Gulf cities continue. Goldman has instructed employees to seek permission before going into its offices across the Middle East, according to people familiar with the matter. Standard Chartered Plc also asked staff in the Dubai International Financial Centre and nearby areas to leave their offices on Wednesday, the people said, declining to be identified discussing confidential information. Several Wall Street banks have already been allowing employees in the United Arab Emirates to work remotely since the war began. Some lenders have also offered staff the option to temporarily leave the country, Bloomberg News has reported.3) President Trump’s administration started the first of several sweeping trade investigations that set the stage for new tariffs, the centerpiece of a push to replace levies struck down by the US Supreme Court. US Trade Representative Jamieson Greer announced Wednesday that his office would begin a probe into more than a dozen major economies under Section 301 of the Trade Act focused on alleged excess manufacturing capacity. The investigations, which typically take months to complete, are required for the president to unilaterally place duties on imports from specific countries deemed to employ unfair trading practices. Economies that will be subject to the inquiry include some of the US’s largest trading partners: China, the European Union, Mexico, India, Japan, South Korea and Taiwan. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The International Energy Agency is proposing a release of emergency oil reserves, according to a person with knowledge of the matter, as governments seek to contain a spike in energy prices driven by the Middle East war. It was not immediately clear whether the IEA proposal was formal and included specific amounts for member nations. While countries have so far agreed in principle to inject more oil into the market if needed, it is not evident that all believe that the situation is yet urgent enough to make that move. The person, who asked not to be named because discussions are not public, did not provide a figure. The Group of Seven nations said on Wednesday that they supported, in principle, “proactive measures” including the release of strategic reserves, though they did not provide details on the scale of a potential intervention. 2) Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran. Oil prices plummeted after Energy Secretary Chris Wright erroneously posted — and then deleted — a message that the US Navy had escorted an oil tanker through the Strait of Hormuz. White House Press Secretary Karoline Leavitt subsequently conceded no such operation had occurred, while adding the US military was “drawing up additional options” to address any attempt by Iran to constrain trade through the vital artery. Later Tuesday, President Trump posted his own flurry of messages on social media. First, he insisted the US had “no reports” of mines being placed, but then urged Iranian forces to remove any explosives they may have laid. 3) Oracle Corp. shares gained in extended trading after the company posted strong results and gave an outlook that suggested there is little letup in demand for AI computing. Revenue in Oracle’s closely watched infrastructure business increased 84% to $4.9 billion in the period ended Feb. 28, the company said Tuesday in a statement. That marked a faster jump than the 79% anticipated by analysts and a 68% sales rise in the previous quarter. The company is working to deliver on massive cloud infrastructure contracts with customers like OpenAI and Meta Platforms Inc. Known for its namesake database software, Oracle has found success with its cloud business by providing chip-filled data centers and other equipment for training and deploying AI models. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump on Monday said the US and Israel were making significant progress in their war on Iran and could end the conflict “very soon,” curtailing an oil-price surge. Trump said he didn’t believe the fighting would be over this week, but insisted the operation was ahead of schedule. The US Navy will escort tankers out of the Middle East to maintain a steady oil supply through the Strait of Hormuz, he added. The effective closure of the strait, vital to the world’s flow of petroleum and to container shipping, has caused oil and natural gas prices to soar, and stoked fears of inflation. Brent crude, having climbed to almost $120 a barrel early Monday, is back down to $91.50, but is still up more than 50% this year on the US-Iran tensions. There’s as yet little sign Hormuz can be opened quickly, with Iran continuing to retaliate with drone and missile strikes across the region.2) Stocks rose and crude oil fell as President Trump signaled the Iran war may be nearing an end, helping boost sentiment after Monday’s selloff in risk assets. The MSCI Asia Pacific Index climbed 3.1%, with technology shares leading gains. European stocks were also set to advance with contracts indicating a 1.4% jump at the open. However, equity-index futures for the S&P 500 Index slipped 0.2%, indicating the recovery that started on Wall Street on Monday may be running out of steam. The rebound in sentiment for markets came as Trump said the war with Iran would be resolved “very soon.” Even so, from the UAE to Bahrain to Kuwait, several Middle Eastern countries announced missile threats, sounded sirens or intercepted drones on Tuesday. Trump said he didn’t believe the conflict would be over this week.3) Kevin Warsh will meet with senators this week as he seeks their approval to become chairman of the Federal Reserve, according to three people familiar with the plans. The customary meetings with senators before his expected hearing mark the next stage in Warsh’s quest to replace Jerome Powell as the head of the national monetary system. One of the senators on Warsh’s schedule is Sen. Thom Tillis (R-N.C.), according to two of the people. Tillis has said he likes Warsh as a potential chairman but opposes moving the nomination until the Justice Department halts its investigation of into the Federal Reserve’s $2.5 billion renovation of its headquarters. Tillis has warned the probe amounts to inappropriate pressure on Powell to lower interest rates. Trump formally nominated Warsh last week in hopes of replacing Powell before the incumbent’s term expires May 15. Treasury Secretary Scott Bessent has said he expects Warsh to get a hearing, notwithstanding Tillis’s blockade. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Trump called $100 oil a “small price to pay,” with neither side showing any sign of deescalating a war now entering its 10th day. Mojtaba Khamenei, 56, won a “decisive vote” in Iran’s Assembly of Experts, the semi-official Fars news agency reported Sunday. The Islamic Revolutionary Guard Corps, one of Iran’s most powerful and feared organizations, pledged full obedience to the new leader in a statement. Trump, meanwhile, said the US and Israeli military campaign against the Islamic Republic was worth any near-term pain because it would bring long-lasting benefits.2) Equities tumbled as deepening turmoil in energy markets sent oil above $100 a barrel for the first time since 2022. Bond losses accelerated while the dollar hit the highes level in nearly two months. Futures for the S&P 500 fell 1.5% as the opposing sides in the US-Israeli war against Iran showed little sign of backing down after more than a week of conflict. Brent soared 15% after Middle Eastern producers cut output, stoking fears of an inflation shock that pushed the 10-year Treasury yield five basis points higher to 4.19%. Selling swept across regions and asset classes as the geopolitical flareup added fresh stress to markets that are already under pressure from AI disruptions and worries about the potential for cracks in credit markets.3) Authorities are investigating potential terrorism links to two suspects in custody over what New York City Police Commissioner Jessica Tisch said was an improvised explosive thrown near Mayor Zohran Mamdani’s residence, people familiar with the investigation said. While Tisch did not elaborate on the investigation, people familiar with the investigation said the suspects — identified as Emir Balat and Ibrahim Kayumi by the commissioner — told detectives they believed the leader of an anti-Muslim protest near Mamdani’s residence had insulted their religion and described the devices as retaliation. Investigators also found the men had watched Islamic State propaganda videos before the protests, the people said. Authorities on Saturday arrested a total of six people connected to the broader unrest stemming from the anti-Muslim demonstration outside the residence near East End Avenue and East 87th Street starting at about 11 a.m. local time. Mamdani is the city’s first Muslim mayor. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to Paris nuclear talks. In Asia – a look ahead to legislative elections in Vietnam. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Iran fired a barrage of missiles and drones targeting countries across the Persian Gulf overnight, while Israel renewed airstrikes on the Islamic Republic in a war that’s entered a seventh day with no end in sight. Saudi Arabia, Kuwait and Bahrain were among those that came under renewed attack from the Islamic Republic, while Israeli airstrikes hit Tehran and Beirut. The war has left at least 1,332 people dead in Iran so far, and dozens of others have been killed elsewhere in the region in retaliatory strikes. The Pentagon said six US troops have been killed, all in the first two days of fighting. President Trump said the US continues to “totally demolish” Iranian forces, telling NBC he wanted to “clean out” Iran’s leadership structure and he had names in mind to take over.2) The US House voted down legislation to force a halt to US strikes on Iran as a handful of Democrats joined a nearly united Republican party in rejecting the measure. The 219-212 vote Thursday against the war powers resolution was largely symbolic, since it would have had to pass both chambers and the Senate’s version of the measure failed a procedural vote on Wednesday. The outcome allows President Trump to proceed in a conflict with uncertain costs, consequences and economic effects that commands far less initial political support than the US wars in Afghanistan and Iraq. The American public turned against both those wars. 3) President Trump removed Kristi Noem as Homeland Security secretary after months of controversy and announced he would replace her with Oklahoma Senator Markwayne Mullin. Trump posted on social media Thursday that the move would take effect March 31. He said that Noem would take a role as a special envoy for the Western Hemisphere. The change marks the first time Trump has replaced a Cabinet member during his second term. White House Press Secretary Karoline Leavitt said in a social media post that the administration will work to confirm Mullin “as quickly as possible.” A White House official didn’t respond to a question about whether he would also serve in an acting capacity before a possible Senate confirmation. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US-Israeli war on Iran entered a sixth day with no sign of easing, as the Islamic Republic said its retaliation against American strikes would escalate. Arab states across the Persian Gulf reported interceptions of Iranian missiles and drones overnight and into Thursday. Israel is carrying out waves of airstrikes on Tehran, hitting military and intelligence assets, following attacks on Hezbollah militia in Lebanon. President Trump said on Wednesday that the US was “doing very well on the war front.” The White House said American forces had struck more than 2,000 targets and were moving toward “complete and total control of Iranian airspace,” while the Islamic Republic’s regime had been “absolutely crushed.” Iran’s Islamic Revolutionary Guards Corps said retaliatory attacks will intensify in coming days, according to the Nour news agency. Tehran will target Israel’s Dimona nuclear facility if the US seeks regime change, Iran’s semi-official ISNA said.2) The Senate voted 53 to 47 against a measure that would have required congressional approval for President Trump’s military operations against Iran, and similar war powers resolutions are expected to fail in the House. Most Republicans have backed Trump’s decision to bypass Congress, arguing he is constitutionally authorized, though several have warned that support is not unlimited -- particularly if the conflict becomes prolonged or involves ground troops. Some GOP lawmakers expressed concern privately about oversight and the lack of hearings, while Democrats have pledged to repeatedly force war powers votes despite slim chances of passage.3) Federal Reserve Governor Stephen Miran said he thinks it’s still appropriate to continue cutting interest rates given that it’s too early to take a stance on the impact of war in the Middle East on the US economy. Oil prices surged after the US and Israel launched attacks across Iran over the weekend, and investors marked down the odds of Fed rate cuts in 2026. Some Fed officials speaking this week have suggested it raises uncertainty over the outlook — a development Fed watchers have interpreted as possibly keeping the central bank on hold for longer. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said the US will ensure safe passage of oil from the Middle East to head off a potential energy crisis caused by the war with Iran, which continues to reverberate across the region and roil markets. The fighting has showed no signs of abating five days after it erupted, with Israel and Iran continuing to exchange airstrikes and missile fire. Hundreds of people have died in Iran and dozens elsewhere in the region, while the US says six of its servicemen have been killed. In all, about a dozen nations have become embroiled in the conflict, with Tehran striking at US bases and embassies across the Middle East, and Israel launching an air and ground offensive against Hezbollah in Lebanon after it came under attack from the Iran-aligned group.2) Canadian Prime Minister Mark Carney said his support for US military action in Iran came “with regret” because the current conflict is another example of the failure of the international order. Israel and the US acted without engaging the United Nations or allies including Canada, he noted. At the same time, Carney said he agrees with the objective of stopping Iran from obtaining nuclear weapons or further threatening international peace and security through its support of terrorism. Meanwhile, Chancellor of the Exchequer Rachel Reeves said the UK shouldn’t sacrifice its principles for more favorable trading terms with the US, as she stood by the government’s decision to withhold British backup for the American-Israeli assault on Iran.3) US Senator John Cornyn and Texas Attorney General Ken Paxton are heading for a runoff in the Republican primary for the US Senate in Texas, while state Representative James Talarico defeated Congresswoman Jasmine Crockett in a Democratic race that was marred by legal challenges. In the GOP primary, Cornyn was leading with a little more than 42% support, less than two points over Paxton as of early Wednesday. A third candidate, US Representative Wesley Hunt, won enough votes to deny either a majority, sending Cornyn and Paxton to a two-person race to be decided in May. The runoff sets up more than two months of additional campaigning that will further drain the candidates’ coffers as Republican seek to defend their majority in the Senate in November. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US-Israeli war on Iran reverberated across the Middle East and global markets on Tuesday, as oil and gas prices surged and Tehran vowed to close the Strait of Hormuz, a vital shipping lane. Both the US and Israeli militaries continued to bombard Iran’s capital. The US embassy in Riyadh was attacked by two drones, causing limited damage, and Israel sent soldiers into southern Lebanon, where the Iran-aligned Hezbollah militia is based. The escalation came as the US sent conflicting messages about how long the war might last, and an adviser to Iran’s Islamic Revolutionary Guard Corps commander told state TV that forces “will set fire to any ship attempting to pass through” the Strait of Hormuz. China, which buys most of Iran’s oil, urged “all sides” to ensure the safe passage of ships through the waterway, where traffic has effectively halted.2) President Trump escalated his criticism of Prime Minister Keir Starmer, in a fresh indication of how strained the two allies’ relationship has become over the US president’s efforts to enlist the UK’s help in its strikes against Iran. Starmer — who declined a US request to use British bases for offensive operations against the Islamic republic — has “not been helpful,” Trump said in an interview with The Sun tabloid. “It’s very sad to see that the relationship is obviously not what it was.” It’s the latest in a series of jibes Trump has made toward the Labour Party leader since he pushed back against Trump’s designs on Greenland earlier in the year. The US president has repeatedly criticized Starmer’s deal ceding sovereignty of the Chagos Islands to Mauritius — something he did again in his Sun interview — and has also dismissed Britain’s role alongside American troops in the Afghanistan war.3) US and Chinese trade negotiators are slated to meet in mid-March, according to people familiar with the matter, signaling a planned summit between Donald Trump and Xi Jinping is pushing ahead despite American strikes against Iran. US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and China’s Vice Premier He Lifeng are expected to convene in Paris at the end of next week to discuss business deals that could stem from the leaders’ meeting, said the people who requested anonymity to discuss plans that aren’t yet public. Both the timing and location of the meeting could still shift, the people added. Among the issues that could be addressed are a possible Chinese purchase of Boeing Co. planes, commitments to buy US soybeans and Taiwan, the self-ruled island China views as its own, some of the people said. The future of US fentanyl tariffs struck down by the Supreme Court could also be on the agenda, they added. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump said the bombing campaign against Iran will continue until its objectives are achieved, calling on the nation’s leaders to capitulate as a report indicated at least one top official in Tehran sought to resume nuclear talks with the US. Trump on Sunday re-confirmed the death of Iran’s supreme leader, Ayatollah Ali Khamenei, and said the US and Israel had struck hundreds of targets in Iran including Revolutionary Guard facilities and air defenses. The US military’s Central Command announced Sunday that three US service members were killed and five “seriously wounded” during operations against the Islamic Republic, but gave no further details. Trump, who campaigned for the presidency on a pledge not to endanger American troops in the Middle East, called their deaths part of “the righteous mission” in a video posted on social media. “There will likely be more before it ends. That’s the way it is.”2) Saudi Arabia and the United Arab Emirates are stepping up criticism of Iran’s regional attacks, while Gulf states consider coordinating efforts to halt what they’ve called “treacherous” and “heinous” actions by Tehran. Ministers from Gulf Cooperation Council nations held an extraodinary meeting on Sunday to review damages from Iran’s strikes on countries spanning from the UAE to Bahrain, Qatar and Oman, and consider necessary steps to restore stability and peace to the Middle East, according to a statement from state-run Saudi Press Agency. The states affirmed their right to respond to respond to Iran in “self-defense, either individually or collectively” and said GCC members “will take all necessary measures to defend their security and stability and to protect their territories, citizens, and residents, including the option to respond to the aggression.”3) Oil surged the most in four years as traders gauged the impact of the effective closure of the Strait of Hormuz triggered by US and Israeli strikes against Iran, with hostilities escalating across the region. Global benchmark Brent was more than 9% higher near $80 a barrel, after earlier rallying by as much as 13% to the highest since January 2025. Tanker traffic through the strait — the chokepoint off Iran’s coast that handles a fifth of the world’s oil and large volumes of gas — has largely halted, with a self-imposed pause in place by shipowners and traders as the conflict spreads. See omnystudio.com/listener for privacy information.

'Bloomberg This Weekend' features unique conversations on business, news, lifestyle and culture. Join David Gura, Christina Ruffini and Lisa Mateo Saturdays and Sundays for discussions with business leaders, lawmakers and cultural icons.  Watch the show LIVE on Bloomberg Television from 7AM-10AM Eastern Time.   Listen to the show LIVE on Bloomberg Radio from 7AM-10AM Eastern Time.   Listen to the Podcast for the best conversations from the show.   Subscribe on Apple: https://podcasts.apple.com/us/podcast/bloomberg-this-weekend/id1878739308Subscribe on Spotify: https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47l See omnystudio.com/listener for privacy information.

The US and Israel began striking targets across Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that threatens to spiral across the oil-rich Middle East.   “The hour for your freedom is at hand,” Trump said, addressing Iranians in a video posted on Truth Social on Saturday. “When we’re finished, take over your government. It will be yours to take. This will be probably your only chance for generations.”   The military campaign could be a defining moment for Trump, risking a drawn-out regional war that leads to a surge in energy prices and American casualties ahead of mid-term elections this year. Iran quickly responded by firing missiles on Israel and US bases around the region, and countries in the Persian Gulf closed their airspace.  Israel’s military said the campaign would target “dozens of military targets,” and Iran media reported strikes on defensive and civilian sites, including more than 50 people dead in a strike on a school in Hormozgan, in the south of the country. Several large explosions were reported in the capital, Tehran.   Bloomberg's David Gura and Christina Ruffini lead our team coverage in this instant reaction podcast. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the February jobs report, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to "Made in Europe" the tagline of a new scheme to rejuvenate Europe's defense, energy, and manufacturing sectors. In Asia – a look ahead to China PMI data. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) US and Iranian officials ended the latest round of nuclear talks in Geneva on Thursday by agreeing to reconvene as soon as next week, opening the door to further diplomacy even as President Trump masses military forces in the region. With just days to go before Trump’s deadline to reach an agreement, the two sides agreed to resume discussions at a technical level in Vienna. Oil pared gains given the prospect of more talks, though there was no public reaction from the US side, led by special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner. A person familiar with the US position said the Americans were leaving Geneva disappointed with the progress of the talks.2) Former US Secretary of State Hillary Clinton said she denied any association with disgraced financier Jeffrey Epstein during a “repetitive” hours-long deposition before congressional investigators Thursday. Clinton told reporters after the deposition she is confident her husband, former President Bill Clinton, knew nothing about Epstein’s crimes. Bill Clinton, who is set to face questioning on Friday, will be the first ex-president forced to testify before Congress. Thursday’s closed-door interview, which took place in Chappaqua in upstate New York, also touched on topics ranging from UFOs to the so-called PizzaGate conspiracy theory that took hold during the 2016 presidential campaign, she said.3) Netflix Inc. dropped out of the fight to buy Warner Bros. Discovery Inc., clearing the way for rival bidder Paramount Skydance Corp. to clinch its $111 billion deal for the historic Hollywood studio. The streaming industry leader said that while it believed its deal would have passed muster with regulators and created shareholder value, it didn’t want to keep bidding. “We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive,” Netflix said Thursday in a statement. Instead, it will keep investing in its business, including about $20 billion this year on films, TV shows and other entertainment offerings. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Cuba says a boat with 10 people near its coast early Wednesday was carrying weapons, and its occupants — Cubans living in the US — were intent on entering the country to fight against the government. Cuban forces killed four people who had opened fire from a speedboat with Florida tags, an incident with the potential to escalate an already tense standoff with the US. The vessel approached within one nautical mile off the coast of Villa Clara early Wednesday, Cuba’s Interior Ministry said in a statement. Six others on the speedboat were wounded and are being provided with medical care. US Secretary of State Marco Rubio told reporters on Wednesday afternoon that the Department of Homeland Security and Coast Guard would be looking into the incident.2) The US and Iran started a third round of nuclear talks on Thursday with days to go until President Trump’s deadline for a deal. The two parties have been locked in a tense, months-long standoff over the Islamic Republic’s atomic activities and are negotiating through mediator Oman at its embassy in Geneva, the semi-official Iranian Students’ News Agency reported. Trump had given Iran a deadline of March 1-6 to strike a deal and has threatened military action if it fails to do so, sparking fears of a new Middle East war that could embroil Israel and Gulf Arab oil producers.3) The US vowed to maintain high tariffs on China hours after Beijing warned against any future hikes, as President Trump’s sweeping levies return to the spotlight before his meeting with Xi Jinping. US Trade Representative Jamieson Greer said Wednesday that Trump wants to keep tariffs on China steady at a range of 35% to 50%, while repeating earlier statements that the Supreme Court’s decision to invalidate broad emergency tariffs wouldn’t affect most levies. Earlier the same day, China threatened to take “all necessary measures” if the US imposed fresh tariffs, after Washington signaled a probe into their 2020 trade deal would continue. Beijing reiterated it wants to use the existing consultation mechanism to build consensus. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Addressing one of his biggest audiences at perhaps the lowest moment of his second term, President Trump returned again and again in his State of the Union speech to the same message on the economy: Everything is going great. A resolute Trump was determined to will Americans into a better economic mood, seeking to paint over the affordability concerns at the center of upcoming midterm elections with statistics and self-congratulation. “Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before,” Trump boasted early in the nearly two-hour speech. The US president didn’t even feel compelled to roll out fresh policy ideas to address the cost of living. And where he did allow that voters might have some misgivings about cost of living, he followed his well-worn playbook of pinning blame elsewhere. Ahead of the speech, Trump’s advisers had framed the evening as an opportunity to lay out a forward-looking economic agenda that could serve as a reset ahead of the midterms. But he focused more on touting his signature tax legislation and trade policies than major new cost-of-living proposals — a hint that the issue is still vexing the White House. 2) Four days after deriding the US Supreme Court justices who struck down most of his signature tariffs, President Trump was far milder in his criticism with some of them in the room. Delivering his State of the Union address Tuesday, Trump criticized Friday’s 6-3 ruling against his sweeping global tariffs as “very unfortunate” and “disappointing.” The four justices who attended — Chief Justice John Roberts and Justices Elena Kagan, Brett Kavanaugh and Amy Coney Barrett — sat stoically in their front-row seats. Even in their relatively mild form, Trump’s comments marked a rare instance of high court criticism during a State of the Union address. In 2010, then-President Barack Obama criticized the just-issued Citizens United campaign-finance ruling, accusing the court of ignoring a century of precedent.3) Nvidia Corp. is facing a high-stakes moment with its latest quarterly results on Wednesday, with the world waiting for fresh evidence that the AI spending boom remains on track. To satisfy investors, Nvidia likely needs to deliver another blockbuster report. That means easily topping the forecasts it gave three months ago and setting new targets that are above current Wall Street estimates. The company has done this repeatedly, but concerns have grown that the AI spending frenzy isn’t sustainable. Nvidia is the dominant supplier of processors used to develop and run AI models, making it the biggest bellwether of the artificial intelligence economy. Chief Executive Officer Jensen Huang has assured investors in public appearances that demand remains high and customers such as Meta Platforms Inc. and Alphabet Inc. have rolled out more aggressive spending plans. Investors also will be looking for additional ways for Nvidia to accelerate growth. That may include pushing further into China, where US export curbs — and Chinese pushback — have limited sales. See omnystudio.com/listener for privacy information.

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring “a turnaround for the ages” as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year. The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men’s Olympic hockey team into the gallery amid chants of “USA! USA! USA!” He awarded several medals honoring veterans and active-duty service members. And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks. For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with: Bloomberg White House correspondent Jeff Mason Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor US Interior Secretary Doug Burgum See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) A powerful winter storm started to taper off across the Northeast Monday evening after smashing records and dropping more than a foot of snow in eight states. The impact is expected to linger for days. More than 11,000 flights have been grounded through Tuesday, and more than 500,000 homes and businesses were without power as of 5:45 p.m. local time. Drivers in some parts of Massachusetts have been ordered to stay off the roads as snowplow crews struggle to catch up after whiteout conditions engulfed the state’s South Coast. Manhattan’s Central Park recorded about 20 inches (50 centimeters) of snow from Sunday through Monday. Islip on Long Island received more than 22 inches, according to the National Weather Service. Providence, Rhode Island, broke its record for a single snow storm with 32.8 inches, the National Weather Service said. The old record was set from Feb. 6-7 during the Blizzard of 1978 when 28.6 inches fell.2) Affordability and tariffs are expected to be two key domestic themes of President Trump's State of the Union address, posing headline risk for credit-card issuers, homebuilders, single-family REITs and retailers exposed to duties. He will likely address the Supreme Court's tariff ruling, reiterating his pledge to keep them in place, while other proposals requiring congressional approval face long odds in 2026. With President Trump's approval rating at 42% according to RealClearPolitics, consumer affordability of goods and services will be a key focus for the administration ahead of the US midterm elections in November. So far in 2026, Trump has proposed measures such as a 10% cap on credit-card interest, regulatory cuts to lower household energy prices, tax relief and prohibiting corporations from purchasing single-family homes. Yet investors should note that presidential authority to drive affordability goals may be limited, especially if congressional approval is required or if tariff policy risks driving higher inflation. 3) President Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the adminstration’s trade agenda after the Supreme Court struck down his original sweeping duties. The president signed an executive order last Friday authorizing the 10% import tax just hours after the ruling. He subsequently threatened to raise the number to 15%, but Trump did not officially issue a directive to increase the rate by Tuesday at 12:01 a.m. Washington time when the 10% levy went into effect. The White House is working on a formal order that will increase the global tariff rate to 15%, according to an administration official. The timeline for implementing that higher levy has not been finalized, said the official, who spoke on the condition of anonymity to discuss private matters. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) A powerful winter storm has isolated New York City and hobbled transport networks, threatening to be among its worst on record, with 41 million people across the US East Coast facing blizzard conditions. The storm shut down the vast majority of flights out of the region’s largest airports on Monday, including in the New York area and in Boston. New York City Mayor Zohran Mamdani declared a state of emergency and closed streets, highways and bridges to most traffic after 9 p.m. Sunday until noon Monday. Major snowfall of as much as 30 inches is expected across the East Coast in some areas, with the heaviest set through Sunday night and into Monday morning, the National Weather Service said, making travel impossible.2) Senior US officials said President Trump’s tariff defeat at the Supreme Court won’t unravel deals negotiated with US partners as they sought to defend the administration’s assertive trade policies. Those deals — which the administration made with partners including China, the European Union, Japan and South Korea — remain in place, US Trade Representative Jamieson Greer said Sunday on CBS’s Face the Nation. He sought to separate those arrangements from the planned 15% global tariff Trump announced Saturday. Friction over the renewed uncertainty spilled out Sunday as the European Parliament’s trade chief said he’ll propose freezing the EU’s ratification of a trade deal with the US until the Trump administration clarifies its policy. In New Delhi, officials cited similar reasons for India postponing talks in the US this week on finalizing an interim trade deal. The US Supreme Court ruling that struck down Trump’s use of emergency authority to wield tariffs preceded his planned trip next month to China. Greer suggested that alternative US trade tools, including those involving investigations of other countries’ trade practices, would give the US leverage.3) The US and Iran are set to resume talks Thursday in Geneva, according to Omani mediators. Iranian Foreign Minister Abbas Araghchi said he expects to meet US special envoy Steve Witkoff for the talks and reiterated that Iran won’t be pressured by a US military buildup in the region. Omani Foreign Minister Badr Albusaidi said on X that the US-Iran negotiations “are now set for Geneva this Thursday, with a positive push to go the extra mile towards finalizing the deal.” After talks last week, a US official said Iran was expected to return with proposals in two weeks to bridge remaining gaps. The US has orchestrated a massive military buildup in the Middle East including two aircraft carriers as President Trump presses Tehran for a new nuclear deal. Trump said on Friday he’s considering limited strikes on Iran, risking another destabilizing conflict. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from chipmaker Nvidia along with a focus on 3 stocks for the week ahead.  In the UK – a look ahead to a special election in the UK. In Asia – a look ahead to India Prime Minister Narendra Modi’s two-day visit to Israel. See omnystudio.com/listener for privacy information.

The US Supreme Court struck down President Donald Trump’s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House.Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.The justices didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion - more than half the total revenue Trump’s tariffs have brought in. For instant reaction and analysis, Bloomberg Intelligence co-hosts Paul Sweeney and Scarlet Fu, o speak with:- Bloomberg Washington correspondent Tyler Kendall- Bloomberg Legal Analyst and host of Bloomberg Law June Grasso- Henrietta Treyz, Managing Partner and Director of Economic Policy at Veda Partners- Dave Townsend, Partner with Dorsey & Whitney See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US military is stationing a vast array of forces in the Middle East, including two aircraft carriers, fighter jets and refueling tankers, with President Trump saying that Iran had 10 to 15 days at most to strike a deal over its nuclear program. “We’re either going to get a deal, or it’s going to be unfortunate for them,” Trump told reporters Thursday aboard Air Force One. On a deadline, Trump said he thought 10 to 15 days was “pretty much” the “maximum” he would allow for negotiations to continue. The deployment is unlike anything the US has done since 2003, when it amassed forces before the invasion of Iraq. It dwarfs the military buildup that Trump ordered off the coast of Venezuela in the weeks before he ousted President Nicolas Maduro. While the US isn’t likely to deploy ground troops, the buildup suggests Trump is giving himself discretion to launch a sustained campaign lasting many days, in cooperation with Israel.2) President Trump declared victory in the fight over cost-of-living concerns, signaling a new approach that seeks to deny problems with his economic agenda while touting stock market gains to insist that his tariff plans have been a success. Pocketbook issues have emerged as the central focus of the upcoming November congressional elections with households hit hard by costs for groceries, utilities and housing. Polls show voters have soured on Trump’s economic policies, endangering Republicans’ hold on both chambers of Congress and the future of the president’s legislative agenda. Trump and allies have highlighted slowing inflation and job growth that has come in above expectations, but that has failed to assuage voters, and opened the door for Democrats who have seized on that discontent to boost their midterm prospects.3) Andrew Mountbatten-Windsor, the brother of the UK’s King Charles, was released under investigation on Thursday after being arrested on suspicion of misconduct in public office. The Thames Valley Police confirmed it had released a Norfolk man in his sixties, without mentioning the former royal by name. Last week, the police force said it was leading the assessment of allegations tied to the US Department of Justice’s publication of files related to convicted sex offender Jeffrey Epstein. King Charles III issued a statement outlining his “deepest concern” about the matter and promising Buckingham Palace’s “full and wholehearted support and co-operation” with the investigating authorities. The arrest of Andrew, who turned 66 on Thursday, heaps further embarrassment on Britain’s royal family following years of lurid allegations about ties with Epstein that the former prince has consistently denied. His arrest appears to be the first of a UK royal since King Charles I in the 17th century following his defeat in the English Civil War. See omnystudio.com/listener for privacy information.

On today's podcast:1) While both the US and Iran have sounded cautiously upbeat about the latest round of diplomatic talks between the nations, analysts believe that strikes on Iranian targets remain a likely possibility. The US has amassed military assets in the Middle East and has dispatched a second aircraft carrier to the region. Concerns of a broader conflict held Brent crude above $70 a barrel. The US also announced new visa restrictions, with the State Department saying it is targeting 18 Iranian officials and telecommunications industry leaders and their immediate family members for the crackdown and communications blackout, blaming them for “inhibiting the right of Iranians to free expression and peaceful assembly.”2) Billionaire retail tycoon Leslie Wexner told a US House panel Wednesday that he visited Jeffrey Epstein’s private Caribbean island but said at the time he wasn’t aware of any sex trafficking operation involving the disgraced financier. Wexner said he went to the island once with his wife and children “for a few hours” while the family was in the area on their boat, according to his opening statement in a deposition to congressional investigators that was provided to Bloomberg News by his attorney. The House Oversight Committee has been investigating what role Epstein’s broad network of connections may have played in facilitating his enterprise or delaying criminal prosecution. Wexner was questioned behind closed doors by congressional investigators for six hours on Wednesday, a spokesman for the panel said.3) OpenAI is close to finalizing the first phase of a new funding round that is likely to bring in more than $100 billion, according to people familiar with the matter, a record-breaking financing deal that would give the startup additional capital to build out its artificial intelligence tools. As the ChatGPT maker prepares to spend trillions in infrastructure investment, the overall valuation of the company, including the eventual funding, could exceed $850 billion, according to some of the people. That’s higher than the $830 billion initially expected. The company’s pre-money value will remain $730 billion, said one person, all of whom asked not to be identified discussing private information. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The US and Iran made progress in nuclear talks in Geneva on Tuesday, with Tehran’s negotiators scheduled to return with a new proposal in two weeks, a US official said on Tuesday, a cautiously upbeat assessment that suggests the chances of an imminent military clash are low. The official, who asked not to be named, said Iran would return with detailed proposals to address the remaining gaps between the two sides, but cautioned that there were still a lot of details to discuss. In an earlier statement, Iran said it had reached a “general agreement” with the US on the terms of a potential nuclear deal that would lift sanctions on Tehran and ease the risk of a broader war in the Middle East. But from the outset, there was also confusion between the US and Iranian sides on the scope of the negotiations, with President Trump bringing Tehran to the talks under the threat of US airstrikes.2) Ukraine and Russia began a second day of US-brokered talks in Geneva after Kyiv’s lead negotiator held separate meetings with American and European allies to coordinate their approach. “Consultations are taking place in groups focusing on specific areas within the political and military blocs,” Ukrainian National Security and Defense Council Secretary Rustem Umerov said Wednesday on Telegram. Russian media also reported that the negotiations had resumed behind closed doors. Umerov on Tuesday said he’d met with representatives of the US, France, the UK, Germany, Italy and Switzerland. “It’s important to maintain a common vision and coordination of actions between Ukraine, the US and Europe,” he said after the meetings in a post on Telegram. “There is an understanding of shared responsibility for the outcome.”3) Japan plans to invest up to $36 billion in US oil, gas and critical mineral projects, the first tranche of its $550 billion commitment under the trade agreement it struck with President Trump. Japanese Prime Minister Sanae Takaichi said the projects were designed to build resilient supply chains through cooperation in areas crucial for economic security, including critical minerals, energy and artificial intelligence. The most significant investment is a natural gas facility in Ohio that’s expected to generate 9.2 gigawatts of power, according to a statement from US Commerce Secretary Howard Lutnick, a massive project which Trump described as “the largest in History.” See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Reverend Jesse Jackson, the civil rights leader who marched alongside Martin Luther King Jr. and later ran for president, has died at 84, according to a statement from his family released early Tuesday. Ordained in 1968, he spent decades fighting for voting rights and economic justice. A longtime advocate for racial and economic justice, Jackson was with King in Memphis in 1968 when King was assassinated. He went on to found the Rainbow PUSH Coalition and became one of the most prominent voices in American civil rights and politics.2) Iran and the US are set to meet for a second round of nuclear talks in Switzerland on Tuesday morning as they seek to avoid renewed conflict in the Middle East following last year’s attacks on the Islamic Republic. Oman will mediate the negotiations in Geneva almost two weeks after the first round was held on February 6th, Iran’s state broadcaster said. Iranian officials have expressed willingness to discuss their nuclear-enrichment activities, but have tied any concessions to the potential easing of American sanctions. Meanwhile, Washington is increasing its military presence in the Middle East, deploying a second aircraft carrier to the region amid warnings of a possible strike on Iran if talks — which could drag on for weeks — fail to produce a compromise. Iran’s Islamic Revolutionary Guard Corps held drills around the strategic Strait of Hormuz on Monday that were focused on delivering a “decisive” response to security threats.3) Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values. “We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.” See omnystudio.com/listener for privacy information.

On this special President's Day Holiday edition of Bloomberg Daybreak, host Nathan Hager discusses: -We get another big earnings report ahead of Nvidia. On Thursday, we hear from Walmart. For more, we hear from Bloomberg Intelligence Senior Analysts Jen Bartashas and Poonam Goyal. - Nvidia reports its latest quarterly numbers next week. So what should we expect from the chip -behemoth? We speak with Mandeep Singh and Kunjan Soubhani of Bloomberg Intelligence. -The world’s richest man, Elon Musk, is suing OpenAI, a company he co-founded. That trial is set to take place in April. We get details from Bloomberg Intelligence Litigation Analyst Matthew Schettenhelm     See omnystudio.com/listener for privacy information.

Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values. The double-edged message offered some reassurance to allied leaders gathered at the Munich Security Conference but did little to temper their push for more independence from Washington. “We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.”“What is it that binds us together? Ultimately, it’s the fact that we are both heirs to the same civilization, and it’s a great civilization,” he said. “It’s one we should be proud of.”Rubio’s comments elaborated on a speech he delivered to the event, Europe’s premier annual security gathering, earlier Saturday morning. The speech was the most anticipated of the three-day conference, with fellow leaders eager to hear if he would double down on the contemptuous tone voiced a year earlier by Vice President JD Vance at the same venue. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to what to expect from homebuilders in the months ahead along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to UK jobs data. In Asia – a look ahead to the Lunar New Year Holiday in China. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Trump administration is working to narrow its broad tariffs on steel and aluminum products that companies find difficult to calculate and the European Union wants reined in as part of its pending trade deal with the US, a person familiar with the matter said. The US Trade Representative’s Office is scrambling to resolve complications spawned last year by the Commerce Department’s efforts to rush out President Trump’s tariff agenda, the person said. The White House has communicated to companies that adjustments are in the works, but details and timing remain unclear. 2) President Trump said his administration has rescinded the “endangerment finding,” a landmark scientific determination that greenhouse gases pose a threat to human health and welfare. The 2009 finding serves as the legal foundation for a variety of environmental rules, including federal climate standards for cars and trucks. Trump said he’s also repealing those vehicle-related standards. The decision to repeal, which has been telegraphed for months, lays the groundwork for unwinding more federal climate regulations, according to environmental and legal experts. Thursday’s announcement, made alongside Environmental Protection Agency Administrator Lee Zeldin, marks the administration’s most consequential climate rollback, as well as its biggest deregulatory move.3) A Saturday shutdown of the Department of Homeland Security is all but inevitable after the Senate failed to advance a funding bill and headed out on a week-long recess without a deal regarding new limits on immigration enforcement. The Senate vote to begin debate on a year-long DHS bill without enforcement changes failed 52 to 47. A Republican attempt to get unanimous consent to pass a stopgap DHS bill also failed. Many department employees will be expected to work without pay during a shutdown. But a prolonged fight risks roiling workers like Transportation Security Administration employees at airports. Those carrying out immigration enforcement activities at Immigration and Customs Enforcement and Customs and Border Protection will likely be paid even during a longer shutdown by funds allocated under President Trump’s tax bill. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) President Trump’s tariff policies suffered their strongest political blow yet with the Republican-led US House passing legislation aimed at ending the president’s levies on Canadian imports. Wednesday’s vote represents an increase in political pressure to change course on Trump’s signature economic policy just months before the midterm elections, including by forcing swing-district Republicans affected by the tariffs to weigh when or if to cross the president by voting against his agenda. The vote also signals a growing anxiety over the White House’s economic agenda before elections that are expected to focus heavily on affordability. Democrats were quick to attack the Republicans who voted to protect the tariffs, blaming them for shielding policies that increase the cost of living for their voters. While Trump is almost certain to veto any bill calling for a repeal of his tariff agenda, making it unlikely the measure will ever become law, defections from six Republicans alongside opposition from nearly all Democrats underscore his increasingly tenuous hold on the narrow House majority.2) Republicans advanced voter ID legislation over the opposition of most Democrats Wednesday as House GOP leaders seek to convince their Senate counterparts to muscle through the bill. Conservatives are touting the measure, which the House passed by 218-213, as necessary to beef up election security ahead of the November midterms and 2028 presidential race. Most Democrats oppose the legislation, dubbed the SAVE America Act, and argue it would amount to voter suppression, especially for marginalized groups. The bill faces steep obstacles in the Senate, where GOP leaders would need 60 votes to overcome the legislative filibuster. House Republicans are urging Senate Majority Leader John Thune (R-S.D.) to change Senate rules to advance the bill, but the measure’s House backers are also looking at opportunities to tack it onto must-pass bills.3) Democratic lawmakers accused Attorney General Pam Bondi of using the US Justice Department to target enemies of President Donald Trump and bungling the release of files on disgraced financier Jeffrey Epstein during a fiery hearing Wednesday. “You’ve turned the people’s Department of Justice into Trump’s instrument of revenge,” said Jamie Raskin, the top Democrat on the House Judiciary Committee in Washington. “Trump orders up prosecutions like pizza. And you deliver every time.” Raskin cited Justice Department probes of former FBI Director James Comey, New York Attorney General Letitia James and six members of Congress who recorded a video urging military service members to refuse unlawful orders. Prosecutors failed to get grand jury indictments of Comey and James, and the New York Times reported Tuesday that the department also failed to secure indictments of the lawmakers. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes. On today's podcast:1) An individual who the authorities described as a person of interest has been taken into custody regarding the disappearance of Nancy Guthrie in Arizona more than a week ago, a person familiar with the matter said on Tuesday night. The case, which has attracted international attention, took a dramatic turn earlier Tuesday when the Federal Bureau of Investigation released photo and video images of the possible suspect outside Guthrie’s home near Tucson. A video posted on X shows a masked individual wearing gloves approaching the front door with what appears to be a handgun in a holster and carrying a large backpack. Meantime, the AP reports the FBI and Pima County Sheriff's Department were conducting a court-authorized search at a location in Rio Rico, Arizona, in connection with the investigation.2) At least 10 people are dead and 25 injured after a mass shooting in northeastern British Columbia, according to the police. After a report of an active shooter at Tumbler Ridge Secondary School at 1:20 p.m. local time, responders found six people dead in the school, as well as the suspected perpetrator, who appears to have died from a self-inflicted injury, the Royal Canadian Mounted Police said in a statement. Three victims were airlifted to hospital with serious injuries, but one died in transit. Police said they also identified a residence that they believed to be connected to the incident, where they found another two people dead. Investigators are now searching additional properties to determine the scope of the tragic event, which appears to rank as one of the deadliest mass shootings in Canadian history.3) House lawmakers are set to vote Wednesday on whether to reject some of President Trump’s tariff policies, ahead of a midterm election focused heavily on anxiety over the US cost of living. The votes on the measures — starting with a resolution opposing the president’s tariffs on Canada — are set to come after lawmakers on Tuesday night rejected a last-ditch effort from House Speaker Mike Johnson to prevent them. Johnson, one of Trump’s chief allies in Congress, has led a legislative blockade for months to insulate the tariffs, pushing procedural rules that effectively prevented his chamber from ending the president’s sweeping tariff authority. A fresh Johnson-backed measure would have extended that ban through the end of July. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The relentless surge in memory chip prices over the past few months has driven a vast divide between winners and losers in the stock market, and investors don’t see any end in sight. Companies from game console maker Nintendo Co. to big PC brands and Apple Inc. suppliers are seeing shares slump on profitability concerns. Memory producers, meanwhile, are soaring to unprecedented heights. Money managers and analysts are now assessing which firms can best navigate the squeeze by locking in supplies, raising product prices or redesigning to use less memory. A Bloomberg gauge of global consumer electronics makers is down 10% since the end of September while a basket of memory makers including Samsung Electronics Co. has surged roughly 160%. The question now is how much is priced in.2) Alphabet Inc. is selling sterling and Swiss franc-denominated bonds for the first time, including an ultra-rare issue of a 100-year note, following a bumper $20 billion deal in the US. Google’s parent company is offering five tranches each of sterling and Swiss franc notes, according to people familiar with the matter, who asked not to be identified. The 100-year sterling bond is the first sale of such long-dated debt by a technology firm since the dot-com era. The sterling issue includes tenors of three to 32 years as well as the 100 year bond. The Swiss franc deal includes maturities of three, six, 10, 15 and 25-year bonds. Both deals are expected to price later today, the people said.3) President Trump said his pick to lead the Federal Reserve can stoke the economy to grow at a rate of 15%, an exceedingly rosy target that nonetheless underscores the pressure that Kevin Warsh will face if confirmed to the role. Trump, speaking in an interview with Fox Business, said Warsh was the “runner up” in his last search and that it was a big mistake to pick Fed chair Jerome Powell. It was not fully clear if Trump was referring to year-over-year growth or some other metric. The US economy, which is seen expanding 2.4% this year, has grown at an average annual rate of 2.8% over the past five decades. Gross domestic product has only risen at a 15%-plus pace a few times since the 1950s, including in the third quarter of 2020 as businesses reopened following pandemic-related closures. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Seattle Seahawks won their second Super Bowl title on Sunday, beating the New England Patriots by a score of 29-to-13 at Super Bowl LX at Levi's Stadium in Santa Clara, CA. The Seahawks' defense came out strong, recording six sacks and forcing two interceptions against Patriots quarterback Drake Maye. Seahawks RB Kenneth Walker III was named Super Bowl MVP for his offensive efforts, becoming the first running back to win the award since the Denver Broncos' Terrell Davis in 1998.2) Chinese regulators have advised financial institutions to rein in their holdings of US Treasuries, citing concerns over concentration risks and market volatility, according to people familiar with the matter. Officials urged banks to limit purchases of US government bonds and instructed those with high exposure to pare down their positions, the people said, asking not to be identified discussing private deliberations. The directive doesn’t apply to China’s state holdings of US Treasuries. Communicated verbally to some of the nation’s biggest banks in recent weeks, the guidance reflects growing wariness among officials that large holdings of US government debt may expose banks to sharp swings, the people said. The worries echo those made by governments and fund managers elsewhere amid a brewing debate over the safe haven status of US debt and the appeal of the dollar.3) Japanese Prime Minister Sanae Takaichi secured a historic election triumph, positioning her as the nation’s strongest leader in the postwar era in an outcome that sent stock prices and bond yields soaring. Her ruling Liberal Democratic Party achieved the biggest post-war victory for a single-party in a general election in Japan, an extraordinary transformation of fortunes for a party that was on the ropes last summer before getting behind the nation’s first ever female premier in October. The LDP secured a two-thirds super majority in the 465-seat lower house by itself, according to public broadcaster NHK. A tally of results by NHK early Monday showed that the ruling coalition had won 352 seats in the lower house, expanding its previous razor-thin majority of 233 by a considerable margin. The LDP’s haul of 316 seats gives it a higher proportion of representatives in the lower house than any other party in post-war Japan. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to S jobs and CPI data, along with a focus on 3 stocks for the week ahead. In the UK – a look ahead to International Energy Week in London. In Asia – a look ahead to Softbank Earnings.   See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) Amazon.com shares tumbled in premarket trading on Friday after the e-commerce and cloud-computing company’s $200 billion annual capex forecast is much higher than expected, underlining concerns about how much big tech companies are spending on AI-related investments and when they will pay off. The company reported spending roughly $130 billion on property and equipment in 2025. Analysts anticipated those expenses would reach about $150 billion this year. Chief Executive Officer Andy Jassy said the money “predominantly” would go toward the company’s Amazon Web Services cloud unit, and most of that spending would be for AI workloads.2) Bitcoin whipsawed in a volatile trading session after a selloff that briefly dragged the token to a more than 50% retreat from its October peak. The original cryptocurrency rose as much as 5.8% on Friday and traded around $64,800 at 9 a.m. in London. Earlier in the session, it came close to falling below $60,000 for the first time since October 2024. Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence. The selling picked up steam this week in line with the unwinding of leveraged bets and broader market turbulence. 3) President Trump called for the creation of a new nuclear arms treaty with Russia, as the existing New START agreement between the two nations expires and fuels concern about the possibility of a new arms race. The pact — formally known as the New Strategic Arms Reduction Treaty — built on efforts to reduce the nuclear weapons arsenals amassed during the Cold War. The deal expired on Thursday, raising the possibility that the US and Russia could potentially pursue new nuclear weapons unhindered by any diplomatic agreement while geopolitical tensions between Washington and Moscow rise. See omnystudio.com/listener for privacy information.

Today's top stories, with context, in just 15 minutes.On today's podcast:1) The Department of Homeland Security will immediately pull 700 officers from Minneapolis, a reduction of about a quarter, amid efforts to deescalate tensions after federal agents killed two US citizens. White House border czar Tom Homan, who President Trump sent to Minneapolis as part of an effort to ease pressure amid local outrage, emphasized a shift to more targeted enforcement after a surge of immigration agents sparked widespread protests. Homan also said cooperation with local authorities to detain immigrants with criminal records had improved. About 2,000 federal immigration agents will remain, down from the peak of the operation but still much higher than the roughly 150 officers that would be normal, Homan told reporters Wednesday.2) President Trump sent a fresh warning to Iran’s leaders as US military forces amass in the region, even as diplomatic talks between Washington and Tehran were set for later this week. “I would say he should be very worried, yeah. He should be,” Trump said in an interview with NBC News on Wednesday, when asked about Iran’s supreme leader. Iranian Foreign Minister Abbas Araghchi said in a social media post Wednesday that talks with the US were scheduled to be held in Muscat, Oman on Friday morning. The US and Iran still plan to meet in Oman on Friday to discuss a nuclear deal, according to a White House official.3) President Trump said he would have passed on Kevin Warsh as his nominee to lead the Federal Reserve if Warsh had expressed a desire to hike interest rates. The president said there was “not much” doubt the Fed would lower rates because “we’re way high in interest” but now “we’re a rich country again.” Trump’s comments could come up during Warsh’s confirmation process, where the Fed’s independence will likely be a central topic. Trump said he believed “in theory” that the central bank was an independent body, while saying he was a “smart guy” whose economic predictions should be considered. Republican Senator Thom Tillis, a member of the Banking Committee, has pledged to block any of Trump’s nominees to the institution until the Justice Department ends an investigation into the central bank’s renovation. See omnystudio.com/listener for privacy information.