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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning, I'm Karen Moscow and I'm Alexis Christophers. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: All right, Alexis, and what we're seeing in oil comes

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Speaker 3: as fighting escalates in the Middle East. US Central Commands

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Speaker 3: says it had completed a ninth straight evening of a

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Speaker 3: tax targeting Iranian commands centers, maritime capabilities, missile and drone

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Speaker 3: launch sites, and communications and networks. President Trump spoke to

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Speaker 3: reporters at Joint Bass Andrews.

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Speaker 4: This is a far bigger job that we're doing. We

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Speaker 4: were doing a little job stopping them from having a

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Speaker 4: certain capability. Now we're just ending it. So it's really

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Speaker 4: not the same thing. What we're doing now is we're

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Speaker 4: ending any chance where they can have a nuclear miss owner.

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Speaker 3: Iranian strikes have killed two more US service members in Jordan,

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Speaker 3: bringing the US death toll to seventeen since the war.

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Speaker 3: Again and Bloomberry Steven Stebchinsky says, there's fear that the

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Speaker 3: conflict will escalate even more so.

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Speaker 5: Before it was really with the tit for tat attacks,

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Speaker 5: you saw the US and Iran targeting military assets. But

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Speaker 5: now you're seeing them start to target energy assets. Quadia

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Speaker 5: facilities have been targeted over the weekend. There's also more

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Speaker 5: countries are having to intercept drones as well, and so

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Speaker 5: there is this fear that this could spiral into a

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Speaker 5: wider regional conflict like we saw in March where Ran

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Speaker 5: was targeting and succeeding in attacking and damaging oil refineries,

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Speaker 5: look financial gas plants, And if that happens, it's no

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Speaker 5: longer a question as to how long it takes for

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Speaker 5: homu's traffic to get back to normal. It is a

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Speaker 5: question for how long does it take for some of

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Speaker 5: these really important assets and production facilities to get repaired

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Speaker 5: and to come back online, because that could take more time.

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Speaker 3: And Bloomberry Steven steps Chinsky notes that the conflict is

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Speaker 3: now in its twenty first week.

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Speaker 2: And gas prices are once again over four dollars. Triple

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Speaker 2: A says the average price is now four dollars three cents.

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Speaker 2: Energy Secretary Christopher Rights as a Trump administration is trying

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Speaker 2: to bring down prices.

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Speaker 6: Gasoline prices today are more than a dollar a gallon

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Speaker 6: cheaper than they were four years ago under the Biden administration.

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Speaker 6: And we'll do everything we can to drive them further

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Speaker 6: down in the weeks and months ahead.

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Speaker 2: Energy Secretary Christopher Wright made those comments on ABC's This Week.

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Speaker 2: You can catch the program Sunday afternoons right here on

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Speaker 2: Bloomberg Radio in Europe.

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Speaker 3: Alexis, it's yet another changing of the guard in the UK.

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Speaker 3: Andy Burnham will take over as Britain's new Prime minister

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Speaker 3: today and we go to London and get the very

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Speaker 3: latesthip Bloombergs you and Pats you and good morning.

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Speaker 7: Karen and Alexis. A new Prime minister for the United Kingdom,

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Speaker 7: Andy Burnham. We'll meet King Charles at bucky In Palace

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Speaker 7: later this morning to ask his permission to form a government.

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Speaker 7: It's a ceremonial process that has become all too familiar

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Speaker 7: to Brits in recent years, with the UK getting its

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Speaker 7: seventh prime minister in just over a decade, the former

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Speaker 7: mayor of Manchester in the north of England, and there's

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Speaker 7: so far being tight lipped about his cabinets appointments. We'll

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Speaker 7: start to get the first of those as the day

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Speaker 7: goes on live in London. I'm you and pots Bloomberg Radio.

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Speaker 2: All right, thanks you and Secretary of State Marco Rubio

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Speaker 2: says President Jijinping's trip to America remains on track for September.

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Speaker 2: Rubio spoke to reporters yesterday before departing for a foreign

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Speaker 2: minister's meeting in Manila.

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Speaker 8: We anticipate that the trip is happening in September. They've

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Speaker 8: continue to send over their teams to prepare for it.

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Speaker 8: I've heard nothing otherwise. I have no reason to believe

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Speaker 8: that they won't becoming It's important. There will always be

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Speaker 8: when you have two big, powerful countries like the United

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Speaker 8: States and China, They're always going to be irritants. They

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Speaker 8: are always going to be things we don't agree on.

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Speaker 8: But I think it's incumbent on powerful and important countries

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Speaker 8: like ours to continue to talk and have a relationship.

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Speaker 8: We owe it to each other and to our people

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Speaker 8: into the world.

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Speaker 2: The meeting comes amid heightened tensions between the two countries.

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Speaker 2: Last week, President Trump accused the Chinese government of interfering

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Speaker 2: with US elections in twenty twenty.

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Speaker 9: Let's turn now to the world of sports.

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Speaker 3: Alexis fans in Madrid. They've been celebrating overnight after Spain

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Speaker 3: became the World Cup soccer champions once again and Bloomberg.

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Speaker 3: John stash Hour joins US Live with the latest. John,

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Speaker 3: Good morning, Good morning.

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Speaker 10: Care of the World Cup played over these last five

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Speaker 10: weeks and three North America nations, vastly successful, never an

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Speaker 10: empty seed, plenty of star power, so many great games.

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Speaker 10: The final at Medlife Stadium cannot be called that it

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Speaker 10: was so one sided as Spain outside Argentina twenty to one,

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Speaker 10: but at stay tide until Spain finally scored the one

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Speaker 10: hundred and sixth minute to win one nil. In Spain

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Speaker 10: won the World Cup for the second time ever, denying

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Speaker 10: Argentina second row, denying Lionel Messi. The storybook finished in

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Speaker 10: his almost certain final World Cup game caarda Lexus Well.

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Speaker 3: John Soccer was not the only big event that captured

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Speaker 3: the attention to sports fans yesterday.

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Speaker 10: That was the Open Championship golf, not decided until the

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Speaker 10: final hole for.

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Speaker 9: Ryan Fox thirty to win the Open.

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Speaker 10: Brazilian has another major champion. NBC had the call Fox

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Speaker 10: a relative unknown, but he shot a sixty two Saturday,

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Speaker 10: birding four of his last six holes yesterday to win

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Speaker 10: by one shotow more about the golf and the World

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Speaker 10: Cup coming up in sports, John Stas Shower Bloomberg.

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Speaker 9: Grady, all right, looking forward to that, Thanks John.

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Speaker 2: In Company News, the CEO of Boeing says the aircraft

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Speaker 2: maker is quote turning a corner and President Trump has

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Speaker 2: been quote very helpful. Kelly Ortberg spoke with Bloomberg's Guy

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Speaker 2: Johnson from the Farmborough air Show. He argues, the market

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Speaker 2: is super resilient despite the current global uncertainties.

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Speaker 9: We're turning the corner.

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Speaker 11: I tell my team we haven't quite finished turning the corner.

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Speaker 11: We've got more work to do, but I am pleased

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Speaker 11: with the progress so far. We're wrapping up production across

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Speaker 11: many of our product lines. Markets are very strong, so

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Speaker 11: our backlog is very very strong. So our story is

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Speaker 11: focusing on executiting that backlog.

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Speaker 2: Boeing CEO Kelly Orberg speaking with Bloomberg's Guy Johnson at

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Speaker 2: the Farmborough air Show in England. You can catch a

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Speaker 2: full conversation on the Bloomberg Video Hub, on Bloomberg dot

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Speaker 2: Com and on the Bloomberg Business app.

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Speaker 9: Karen, Well, let's turn to the markets now.

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Speaker 3: Alexis where futures are higher following last week's text selloff

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Speaker 3: on Wall Street. In fact, ship makers closed in a

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Speaker 3: bear market, down twenty percent from its all time high,

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Speaker 3: and Rob Williams is Chief Investment Strategistics Sage Advisory.

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Speaker 12: We knew this last couple of years. Earnings and the

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Speaker 12: capex has been the big tailwind. And what we've been

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Speaker 12: saying is prepare for some volatility. Right, We're primed for

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Speaker 12: some overreaction. There's going to be a lot of questions

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Speaker 12: and a lot of volatilty. And I think and the

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Speaker 12: valuations are priced unforgivingly, so I think fundamentally we've got

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Speaker 12: some good backing. But I think we're the upside here

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Speaker 12: is a little bit capped in the back half.

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Speaker 3: And Sage Advisories Rob Williams says earnings will be key

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Speaker 3: this week. On Wednesday, Alphabet we'll kick off reporting from

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Speaker 3: AI hyperscalers for the second quarter.

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Speaker 2: And Karen Moonshot's surprise release of a new artificial intelligence

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Speaker 2: model has sent a jolt through the markets, forcing investors

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Speaker 2: to reassess some of the biggest assumptions behind the global

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Speaker 2: tech rally. The Chinese startup unveiled a model on Friday

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Speaker 2: that it says delivers performance that rivals top tier offerings

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Speaker 2: from Open AI and Anthropic at a fraction of the cost.

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Speaker 2: As investors drew comparisons with last year's deep Seek moment,

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Speaker 2: more than three hundred billion dollars has been wiped out

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Speaker 2: from the company's valuation estimates for the two unlisted US firms.

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Speaker 3: And Ale says Jeff Bezos is backing a British AI startup.

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Speaker 3: The Amazon founder is putting his money behind Cuspai. The

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Speaker 3: two year old British startup has raised nearly half a

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Speaker 3: billion dollars. The company's goal is to reduce or eliminate

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Speaker 3: the use of rare metals with supply chain risks in

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Speaker 3: ship making. It also wants to develop software that can

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Speaker 3: help researchers develop new materials at a faster pace and

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Speaker 3: for a lower cost than today's methods.

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Speaker 2: Nine on Wall Street time for a look at some

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Speaker 2: of the other stories making news in New York and

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Speaker 2: around the world. For that, we're joined by Bloomberg's Michael

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Speaker 2: Bark Morning, Michael good Morning.

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Speaker 13: A Lexis. New York City's health commissioner says a third

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Speaker 13: person has died in connection with an outbreak of Legionnaire's

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Speaker 13: disease on Manhattan's Upper east Side. The city has identified

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Speaker 13: seventy four cases associated with the outbreak. Eight people remain hospitalized,

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Speaker 13: though no new cases have been reported in more than

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Speaker 13: a week. Health officials say the source of the exposure

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Speaker 13: likely has been eliminated after aggressive cleaning of cooling towers

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Speaker 13: where the bacteria can grow in warm water. Meanwhile, relatives

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Speaker 13: of those who died are planning lawsuits. Attorney Ron Cadde

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Speaker 13: represents the family of an eighty eight year old man

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Speaker 13: who is an Air Force veteran who recently died.

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Speaker 12: I blame the property owner who failed to maintain their

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Speaker 12: cooling tower.

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Speaker 13: City officials say they ordered dozens of buildings in Manhattan

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Speaker 13: to clean their cooling towers to contain the outbreak. Taylor

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Speaker 13: Fresh Food says it has voluntarily removed all iceberg lettuce

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Speaker 13: sourced from Central Mexico from the US market amid an

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Speaker 13: ongoing cyclosporiasis outbreak. More than sixteen hundred people have been

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Speaker 13: second This woman in Raleigh, North Carolina, says her family

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Speaker 13: is taking additional precautions at home.

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Speaker 3: We've really just started washing our vegetables in vinegar water

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Speaker 3: and just trying to be a little bit more cognizant.

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Speaker 13: The FDA says the ShredIt lettuce was sold in twenty

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Speaker 13: seven states between June twenty ninth and July sixteenth. Andrew

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Speaker 13: Tate and his brother Tristian are expected to face the

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Speaker 13: Miami Court today as UK police seek their extradition over

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Speaker 13: an investigation into alleged sexual offenses. The Crown Prosecution Service

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Speaker 13: said it was bringing further charges against the social media influencers.

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Speaker 13: They were arrested by US marshals in relation to the

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Speaker 13: allegations from four additional victims. Assistant Chief Constabla at Bedfordshire

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Speaker 13: Police Karina Thomas.

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Speaker 3: New charges in total have now been authorized against Andrew

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Speaker 3: and Tristan Tate, bringing the total number of charges faced

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Speaker 3: to fifty nine.

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Speaker 13: The pair had previously denied any wrongdoing, and their attorneys

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Speaker 13: said the brothers were two innocent men. Global News twenty

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Speaker 13: four hours a day and whenever you want it with

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Speaker 13: the Bloomberg News Now. I'm Michael Barr, and this is

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Speaker 13: Bloomberg Alexis.

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Speaker 9: Thanks Michael.

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Speaker 2: Time now for our Bloomberg Sports Update, brought to you

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Speaker 2: by Flushing Bank, a division of Ocean First Bank. For that,

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Speaker 2: let's bring in John stash Hour. Good morning John, Good

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Speaker 2: morning Lexis.

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Speaker 10: This World Cup Final was billed as Argentina's ability to

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Speaker 10: score against Spain's lockdown defense. Argentina came into yesterday's game

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Speaker 10: of met Life having scored nineteen goals, the third most ever,

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Speaker 10: but Spain had allowed only one, and Spain dominated possession time,

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Speaker 10: had at sixty five percent, had more than double the

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Speaker 10: number of accurate passes. Spain did everything but score until

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Speaker 10: the start of the second extra time crossing past to

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Speaker 10: Nico Williams and he headed it to his teammate far

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Speaker 10: and Tora As two players who had subbed in Torres.

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Speaker 10: The only one all eight I put the ball in

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Speaker 10: the net al though Spain did it two other times.

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Speaker 10: There was a foul on one and off side on

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Speaker 10: the other. Spain's only other World Cup title was in

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Speaker 10: twenty ten. This Spanish team outscored the opposition fourteen to one,

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Speaker 10: had seven shutouts, never trailed.

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Speaker 13: In a game.

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Speaker 10: A New Zealander, for only the third time ever, won

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Speaker 10: a major golf championship. Thirty nine year old Ryan Fox

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Speaker 10: won the Open Championship at Royal Birkdale one with a

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Speaker 10: birdie on the final hole, which was the toughest hole

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Speaker 10: on the course. Yankees and Dodgers double eder at the

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Speaker 10: Stadium Game one, all LA eight to two, complete game

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Speaker 10: win for last year's World Series. Either Yes, Chenobo Heroeshernobo Yelloldo.

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Speaker 10: Game two, Yanks scored first inning, stayed one nothing until

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Speaker 10: a Tommy Edmund home run on the eighth. The Yanks

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Speaker 10: came up bottom of the.

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Speaker 13: Eighth jest chism, give you some moment from him.

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Speaker 4: On one game here we go one to oh, pitch

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Speaker 4: swung on a high.

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Speaker 9: Fly ball, hit pretty well, Let's set a field, got

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Speaker 9: carry Ginny out, Mark rut through two.

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Speaker 13: Logyi you on wfan.

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Speaker 10: That final, the Mets won six to one in Philadelphia Francisco,

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Speaker 10: then Door three. It's including a homer drove in three.

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Speaker 10: Red Sox stay sizzling hot six to one win at

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Speaker 10: Fenway over Tampa Bay. That's thirteen wins in a row.

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Speaker 10: It's the Red Sox longest winning straight since nineteen forty eight.

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Speaker 10: John Stash Edward Bloomberg Sports Electus Karen.

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Speaker 2: Stay with us. More from Bloomberg Day Break coming up after.

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Speaker 1: This Coast to coast on Bloomberg Radio, nationwide on Sirius Exam,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business opp This is Bloomberg Daybreak.

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Speaker 9: Thank good morning. I'm parent Moscow.

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Speaker 3: Alongside Alexis CHRISTOPHERUS and the US conducted a new round

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Speaker 3: of air strikes targeting Iran after announcing the death of

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Speaker 3: another American service member. According to Sencom, the aim must

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Speaker 3: to further diminish Around's ability to attack commercial vessels transitting

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Speaker 3: the Strait of Hormoz. And President Trump spoke to reporters

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Speaker 3: after attending the World Cup final.

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Speaker 4: We control these straight. They don't control anything, so we'll

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Speaker 4: see what happens. But we hit them very hard again tonight.

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Speaker 4: And we did that in honor of the probably three

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Speaker 4: it's probably three as opposed to too great.

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Speaker 9: Patriots and for more.

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Speaker 3: We're joined by Patrick Syke's Middle East breaking news editor

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Speaker 3: for Bloomberg News, and Patrick, good morning. Let's start with

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Speaker 3: these service members that have been killed over the last

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Speaker 3: few days.

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Speaker 9: What do we know here?

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Speaker 14: Yes, as the President was saying, well now, several US

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Speaker 14: service members have been killed across these Iranian attacks on

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Speaker 14: the US basis around the region. Those attacks have been

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Speaker 14: continuing for over a week now in countries like Jordan, Syria.

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Speaker 14: Q Wait has been hit particularly hard, and of course

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Speaker 14: we've seen attacks continue around the strait of fore Mews

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Speaker 14: on shipping interests as well. I think those first deaths

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Speaker 14: really marked a bit of an uptick in the tensions

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Speaker 14: on the military side, and that's where we saw a

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Speaker 14: stronger US response over the weekend, and the oil price

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Speaker 14: also starting a lot higher earlier this morning. It remains

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Speaker 14: to me seen I think, is that the end of

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Speaker 14: it as far as the US is concerned, or is

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Speaker 14: that part of a longer retaliation. Of course, if there

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Speaker 14: are further casualties, I think we can expect more US response.

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Speaker 3: Does this mean it's really there's no more ceasefire? Is

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Speaker 3: the ceasefire just completely over? And now can we just

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Speaker 3: expect this to continue?

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Speaker 14: I think these fire has been effectively dead for some

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Speaker 14: weeks now. But we did have some indications out of

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Speaker 14: Iran earlier this morning that there was some movement on

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Speaker 14: the diplomatic front. The Foreign Ministry spokesman said that Iran

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Speaker 14: had received several proposals from multiple mediators that you didn't

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Speaker 14: say wh who that was or what those proposals were,

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Speaker 14: but we assume countries like Pakistan maybe kata taking a

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Speaker 14: role there. And then the other piece was that Iran

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Speaker 14: sending its Interior Minister to Pakistan later today. Officially that

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Speaker 14: visit is to discuss bilateral issues, but I think we

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Speaker 14: can expect them to be discussing the latest messaging and

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Speaker 14: perhaps even those proposals on how to potentially find a

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Speaker 14: diplomatic solution to the impass.

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Speaker 9: But the talk is still really tough.

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Speaker 3: I mean, arounds Foreign minister said the country's nuclear efforts

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Speaker 3: may be unresolvable any controversy there, and we also heard

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Speaker 3: around Supreme Leader blasting President Trump saying, hey, his signature

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Speaker 3: is worthless, So who cares about an agreement?

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Speaker 9: It's not even going to matter. So what do we

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Speaker 9: make of all this rhetoric around it exactly?

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Speaker 14: I mean it points to in part, there's a huge

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Speaker 14: division playing out in Iran between those who want to

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Speaker 14: see or those who think that diplomacy is the best

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Speaker 14: way out of it, and those who think no because

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Speaker 14: of those what they would see as act of bad

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Speaker 14: faith violations by the US. There's no point in the

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Speaker 14: diplomatic path, and it's best to continue fighting until the

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Speaker 14: US feels forced to surrender. But on the nuclear front

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Speaker 14: as well, right we had just yesterday a nuclear facility

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Speaker 14: still under construction, power plant in Iran was attacked, and

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Speaker 14: that just I think served as a reminder that even

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Speaker 14: if they're able to get through the current impast that

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Speaker 14: has mainly focused on the Strait of Hooe Moose, if

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Speaker 14: they get back around the negotiaing negotiating table, they've then

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Speaker 14: got the even thornier issue of Iran the nuclear program,

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Speaker 14: stockpile of highly enriched uranium, and what happens to future

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Speaker 14: enrichment capabilities. All of that still to be discussed. So

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Speaker 14: it doesn't bode well, but it does appear, as I said,

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Speaker 14: there's some movement on the diplomatic front in the near term.

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Speaker 3: Patrick when it comes to the Strait of Horror moves.

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Speaker 3: What is the situation there today?

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Speaker 14: Traffic very thin, the oil price is reacting, as I

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Speaker 14: said earlier this morning, as a result of that. I

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Speaker 14: think as long as Iran continues to insist on this

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Speaker 14: position of exercising sovereignty over the strait, ideally with but

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Speaker 14: if necessary, with if necessary without Arman, that's going to

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Speaker 14: increase those tensions. And also as long as the US

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Speaker 14: tries to encourage this southern route, this alternative to the

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Speaker 14: Iranian advocated northern route that's closer to its coastline. All

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Speaker 14: of that is just diametrically opposed, and then it's hard

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Speaker 14: to see a.

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Speaker 3: Way way out of but just quickly as traffic getting

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Speaker 3: through then or no, I think very limited.

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Speaker 14: Of course, tracking is very hard because ships are going

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Speaker 14: dark in order to make that journey. They're taking the

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Speaker 14: US advocated southern route trying to avoid Iranian detection. That

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Speaker 14: makes it very difficult, so it's hard to say it

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Speaker 14: the Matt.

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Speaker 3: This is Bloomberg Daybreak, your morning podcast on the stories

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Speaker 9: I'm Karen Moscow.

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Speaker 2: And I'm Alexis Christophers. Join us again tomorrow morning for

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