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

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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

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Speaker 3: Karen, we begin with the latest from the Middle East.

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Speaker 3: Hours after President Trump warned iron the clock was ticking

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Speaker 3: to reach a deal, He's put that clock on hold.

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Speaker 3: President says he has called off a strike on Iran

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Speaker 3: planned for today after an appeal from Persian Gulf allies.

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Speaker 4: I was asked by Saudi Arabia guitar Yui and some

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Speaker 4: others if we could put it off for two or

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Speaker 4: three days, a short period of time, because they think

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Speaker 4: that they are getting very close to making a deal.

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Speaker 4: And if we can do that where there's no nuclear

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Speaker 4: weapon going into the hands of Iran, I think and

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Speaker 4: if they're satisfied, we will be probably satisfied.

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Speaker 3: Also, President Trump spoke at a White House event last evening.

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Speaker 3: We get more from Bloomberg Middle East correspondent Jumani Bersecci.

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Speaker 5: What is going to happen next couple of days. We

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Speaker 5: probably have a couple of days window to allow things

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Speaker 5: to breathe. He does say that negotiations are going on

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Speaker 5: in the background, and indeed we know that these negotiations

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Speaker 5: are happening. Iran once again submitted their refreshed I would

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Speaker 5: say counter proposal via the Pakistani mediators to the US

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Speaker 5: yesterday and we'll see where we go from here.

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Speaker 3: Bloombergs Jumani Bersetci reports the White House rejected Iran's latest

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Speaker 3: proposal as insufficient to reach a deal. At the same time,

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Speaker 3: Iran has refused to budge on some of its key demands,

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Speaker 3: including war reparations and unfreezing its assets.

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Speaker 2: Now Nathan to the latest on the legal showdown between

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Speaker 2: Elon Musk and open Ai. Sam Altman must says he

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Speaker 2: is going to appeal a jury ruling which rejected his

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Speaker 2: claims that OpenAI betrayed its mission to benefit the public

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Speaker 2: by morphing into a for profit business. The jury found

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Speaker 2: that Musk waited too long to file his lawsuit. Bloomberg

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Speaker 2: Intelligence senior litigation analyst Matthew Shettenhelm covered the case for US.

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Speaker 6: This lawsuit potentially threatened to over the company's head. Elon

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Speaker 6: Musk was seeking cort issued limitations on the company's ability

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Speaker 6: to pursue its for profit mission and really to be

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Speaker 6: limited and hamstrung by its original charitable roots. So this

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Speaker 6: win for the company reduces that risk.

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Speaker 2: Bloomberg Intelligence analyst Matthew Shettenhelm says Musk was seeking dramatic changes,

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Speaker 2: including a court order unwinding open Aiyes conversion last year

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Speaker 2: for a for profit and today well.

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Speaker 3: Another major story we're following this morning involves the commute

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Speaker 3: in and out of New York City by rail. Soon

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Speaker 3: it's going to be back to normal. A strike at

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Speaker 3: the biggest commuter railroad in the nation is over. Let's

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Speaker 3: get more from Bloomberg's John Tucker in New York.

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Speaker 7: John and Nathan.

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Speaker 8: The Long Island Railroad strike ended at midnight, but service

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Speaker 8: is not going to start to resume until around noon today.

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Speaker 8: Like yesterday's shuttle bus service will operate of one hundred

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Speaker 8: locations to bring commuters to subway stations and Queens Channel. Lieber,

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Speaker 8: the head of the Metropolitan Transportation Authority, says the wage

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Speaker 8: hike they agreed upon won't raise fares.

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Speaker 3: We needed to find way that we could give people fair.

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Speaker 9: Raises, but also structure it in a way that didn't

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Speaker 9: blow the mpta's budget.

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Speaker 7: We got it done.

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Speaker 10: I wouldn't be standing here if we hadn't found those answers.

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Speaker 8: Where the accord comes after thirty five hundred LI Double

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Speaker 8: R workers walked off the job Saturday, shutting down service

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Speaker 8: for nearly three hundred thousand weekday commuters who rely on

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Speaker 8: the railroad to get to New York City and throughout

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Speaker 8: Long Island. While it still needs to be ratified, service

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Speaker 8: will resume just hours before the Knicks face Cleveland at

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Speaker 8: Madison Square Garden in New York. I'm John Tucker, Bloomberg Radio.

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Speaker 2: All right, John, thank you. Wil Commuters wait for the

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Speaker 2: trains to roll again. They'll have another thing to contend

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Speaker 2: with heat and Bloomberg meteorologist Craig Allen has more on

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Speaker 2: this hotspell.

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Speaker 11: This is big time heat for early in the season.

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Speaker 11: It's going to be intense, but fortunately it won't last

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Speaker 11: too long. Heat advisories do much of Pennsylvania New Jersey,

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Speaker 11: including New York City's five boroughs, as well as Boston

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Speaker 11: and suburbs too, so expect highs at least in the

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Speaker 11: middle nineties away from the coast, and the heat indecks

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Speaker 11: could run between ninety five and one hundred. Fortunately, the

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Speaker 11: ocean will keep it cooler along the shore. Now, as

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Speaker 11: I mentioned, it's not a prolonged heat spell. The second

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Speaker 11: half of the week will be significantly cooler, but it

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Speaker 11: may take a few thunderstorms to push out the heat.

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Speaker 11: Until then, try to stay cool, my friends.

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Speaker 2: Bloomberg meteorologist Craig Allen says the heat advisory will remain

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Speaker 2: in effect until eight pm Eastern tomorrow.

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Speaker 3: Well, now, we want to update you on a deadly

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Speaker 3: mass shooting in southern California. Police say three people were

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Speaker 3: killed when two teens opened fire outside the Islamic Center

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Speaker 3: of San Diego. It's the city's largest mosque. The seventeen

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Speaker 3: and eighteen year old suspects were later found dead in

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Speaker 3: a car with apparent self inflicted gunshot wounds. San Diego

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Speaker 3: Mayor Todd Gloria is promising additional protections to the Muslim community.

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Speaker 10: Hey has no home in San Diego. Islamaphobia has no

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Speaker 10: home in San Diego. An attack on any San Diego

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Speaker 10: is an attack on all San Diegans, and we will

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Speaker 10: not stand for it in America's finest city.

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Speaker 3: Now, along with San Diego's mayor, New York City Mayor

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Speaker 3: Zorn Mumdani says there will be extra police protection at

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Speaker 3: local mosques after what he calls an apparent act of

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Speaker 3: anti Muslim violence.

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Speaker 2: Turning to politics, Nathan, six states are said to hold

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Speaker 2: high stakes primary races today. On Bloomberg's Monica Riggs.

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Speaker 12: Reports, Georgia will be a big one following record early

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Speaker 12: voting turnout in the state, with two incredibly close races

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Speaker 12: to watch, including a Senate Republican primary to see who'll

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Speaker 12: run against incumbent Democratic Senator John Ossoff, and both parties

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Speaker 12: will battle crowded fields to replace Governor Brian Kemp, who's

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Speaker 12: term limited in Kentucky. President Trump's working to get Republican

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Speaker 12: Senator Thomas Massey booted after Bill Cassidy's primary loss last

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Speaker 12: weekend in Louisiana. They were part of a group of

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Speaker 12: seven GOP senors who voted to convict Trump during his

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Speaker 12: twenty twenty one impeachment trial. Pennsylvania, Oregon, Indiana, and Alabama

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Speaker 12: are also holding primaries today. Monica Ricks Bloomberg.

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Speaker 2: Radio Monica Thank you and stay with the Bloomberg for

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Speaker 2: complete coverage of the primaries. Bloomberg Balance of Power with

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Speaker 2: Joe Matthew and Kayley Lines live in Atlanta breaking the races,

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Speaker 2: and you can catch them live at noon Wall Street

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Speaker 2: Time on Bloomberg Radio, Bloomberg Television, and the Bloomberg Business

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Speaker 2: app Karen.

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Speaker 3: The Justice Departments creating a one point eight billion dollar

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Speaker 3: fund to pay out claims of alleged government weaponization. This

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Speaker 3: is part of a settlement agreement to end President Trump's

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Speaker 3: lawsuit against the IRS. The President spoke after the settlement.

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Speaker 4: But this is reimbursing people that were horribly treated, horribly

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Speaker 4: treated as anti weaponization. They've been weaponized, They've been in

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Speaker 4: some cases imprisoned wrongly, they paid legal fees that they

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Speaker 4: didn't have. They've gone bankrupt, their lives have been destroyed.

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Speaker 7: That was President Trump speaking of the White House.

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Speaker 3: Senate Democratic Leader Chuck Schumer blasted the creation of the

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Speaker 3: Company Station Fund.

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Speaker 1: Of all the corrupt things Donald Trump has done, this

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Speaker 1: MAGA slush fund at the Department of Justice is one

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Speaker 1: of the most depraved.

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Speaker 3: Senate Democratic Leader Chuck Schumer. Under the deal, President Trump

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Speaker 3: would not receive any money directly from dropping his ten

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Speaker 3: billion dollar lawsuit.

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Speaker 2: Let's turn to the markets now, Nathan, where US treasury

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Speaker 2: yields are flirting with two thousand and seven highs. Global

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Speaker 2: bond yields have surged in recent weeks as a jump

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Speaker 2: and energy prices caused by the Iran war adds to

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Speaker 2: inflationary pressures and compels central banks such as the FED

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Speaker 2: to consider raising interest rates. Add in worries over budget

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Speaker 2: deficits and the signs that the US economy remains resilient,

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Speaker 2: investors have been seeking greater compensation to own longer maturity debt.

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Speaker 7: We'll turning to company news now.

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Speaker 3: Karen Nvidia expects China will eventually allow AI chips to

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Speaker 3: be imported from the US, and Vidia CEO Jensen wangtold

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Speaker 3: Bloomberg the topic of selling his company's H two hundred

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Speaker 3: chips to customers in China did come up during recent

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Speaker 3: discussions between Washington and Beijing, but Wang says he did

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Speaker 3: not discuss it directly with Chinese officials.

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Speaker 13: The president wants America to lead the AI revolution, and

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Speaker 13: so H two hundreds are licensed to sell to China.

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Speaker 13: The Chinese government has to decide how much of their

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Speaker 13: local market do they want to protect and how much

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Speaker 13: of their local market do they want to expand with

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Speaker 13: a more AI capacity. My sense is that the demand

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Speaker 13: in China is so incredible, just like it is here.

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Speaker 13: Agentic AI is also making enormous progress there. My sense

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Speaker 13: is that over time the market will open.

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Speaker 3: You can catch our entire interview with Nvidia CEO Jensen Wang,

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Speaker 3: and all of our high profile conversations on our new

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Speaker 3: video hub on the Bloomberg Business app. By the way,

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Speaker 3: in video reports earnings tomorrow, so stay with Bloomberg for

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Speaker 3: full coverage of that after tomorrow's closing ball.

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Speaker 2: And there's a restructuring at metap platforms, Nathan. According to

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Speaker 2: an internal memo, the Facebook parent is reassigning seven bounds

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Speaker 2: and workers to new jobs related to artificial intelligence. Medical

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Speaker 2: cut staff later in the week is part of an

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Speaker 2: effort to improve efficiency and offset its investments in AI.

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Speaker 2: Time oper look at some of the other stories making

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Speaker 2: news in New York and around the world and Forever,

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Speaker 2: Joined by Bloomberg's and Michael Barr Michael, good Morning.

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Speaker 9: Good Morning. Karen, a US doctor, is tested positive for

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Speaker 9: the ebolavirus after being exposed in the Democratic Republic of

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Speaker 9: the Congo and has been sent to Germany for supportive care.

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Speaker 9: The CDC is working to move six others who may

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Speaker 9: have been exposed to Germany. About three hundred and fifty

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Speaker 9: suspected cases and ninety one deaths in the Congo have

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Speaker 9: been reported. Doctor Stephanie Whitmer at Emergency Medical Position said

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Speaker 9: this latest Ebola outbreak involves a troubling new strain of

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Speaker 9: the virus.

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Speaker 5: What can happen is that from these flu like symptoms,

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Speaker 5: it can progress to multi system organ failure, bizarre bleeding,

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Speaker 5: and you know shock and death.

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Speaker 9: Doctors Stephanie Whitmer told ABC Abola is highly contagious through

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Speaker 9: direct contact. Accused killer Luigi Mangioni appeared in a New

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Speaker 9: York courtroom Monday, where he'd learned most of the evidence

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Speaker 9: gathered during his arrest can be used against him at trial.

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Speaker 9: The judge decided a gun and a diary was admissible,

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Speaker 9: but the judge ruled other items pulled from the bag

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Speaker 9: while Mangioni was arrested at a Pennsylvania McDonald's cannot be used,

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Speaker 9: including a magazine, cell phone, passport, wallet, and computer chip

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Speaker 9: that part of the search Judge Gregory Kerroll said was illegal.

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Speaker 13: I find that the search of the backpack at the

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Speaker 13: McDonald's was improper warrant the search.

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Speaker 9: Mangeoni has pleaded not guilty to murder charges. His trial

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Speaker 9: is set for September, where Learning, a former Los Angeles

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Speaker 9: police detective convicted of lying during the OJ Simpson murder trial,

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Speaker 9: has died at age seventy four. Mark Furman was one

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Speaker 9: of the first two police detectives sent to investigate the

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Speaker 9: nineteen ninety four killings of O. J. Simpson's ex wife,

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Speaker 9: Nicole Brown Simpson, and her friend Ronald Goldman. Furman reported

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Speaker 9: finding a bloody glove that Simpson's home, but his credibility

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Speaker 9: came under attack during the trial as the defense raised

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Speaker 9: the prospect of racial bias. His manager says the cause

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Speaker 9: of death was throat cancer. Global News twenty four hours

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Speaker 9: a day and whenever you want it with the Bloomberg

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Speaker 9: News Now Michael Barr and this is Bloomberg.

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Speaker 2: Caaren, Thanks Michael. Time now for our Bloomberg Sports updating.

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Speaker 2: For that, we bring in John stash Hour.

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Speaker 1: Thanks Karen. The start of the NBA's Western Conference Finals,

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Speaker 1: Oklahoma City star Shay Gilgess Alexander got his MVP trophy

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Speaker 1: and then had a subpar game, only four points at halftime.

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Speaker 1: He shot seven for twenty three, while San Antonio's victor

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Speaker 1: Wibin Yama scored forty one points at twenty four rebounds

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Speaker 1: the Spurs beat the Thunder in double overtime in game one,

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Speaker 1: Game seven of the Stanley Cup playoffs. In Montreal's Alex Newhook,

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Speaker 1: who had a game winning goal in the first round

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Speaker 1: against Tampa Bay, scored in overtime the Ends beat Buffalo.

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Speaker 7: That's a Bloomberg Sports update.

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

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Speaker 2: after this.

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Speaker 11: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 11: and around the world on Bloomberg dot Com and the

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Speaker 11: Bloomberg Business app.

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Speaker 7: This is Bloomberg Daybreak, Good morning of Nathan Hager.

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Speaker 3: President Trump's ticking clock on Iran appears to be on

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Speaker 3: hold this morning. The President says he's holding off on

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Speaker 3: new bombardment's plan for today to give Saudi Arabia, the UAE,

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Speaker 3: and other golf allies more time to talk about reaching

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Speaker 3: a deal.

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Speaker 4: We've had periods of time where we had we thought

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Speaker 4: pretty much getting close to making a deal and it

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Speaker 4: didn't work out. But this is a little bit different.

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Speaker 7: I was President Trump at a White House event yesterday.

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Speaker 3: Joining us this morning is Bloomberg Middle East correspondent Bloomberg

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Speaker 3: Horizons anchor Jumana Bursecchimana, the president says, this time is

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Speaker 3: a little bit different. What is potentially making it different

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Speaker 3: this time? Good morning.

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Speaker 5: Yeah, well, at least he's actually said, and we have

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Speaker 5: to take his word at face value, that the US

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Speaker 5: were preparing for another round of military action. So remember

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Speaker 5: yesterday he issued a threat to Iran saying that the

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Speaker 5: clock is ticking and unless they sign a peace deal,

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Speaker 5: then the US would would have to act. And now,

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Speaker 5: of course we understand that the US were actually preparing

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Speaker 5: themselves for another round of kinetic action, and he says

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Speaker 5: that they have refrained from doing that at the request

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Speaker 5: of their Gulf allies that sada Arabia cut our UAE,

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Speaker 5: but then equally said, you know, they asked if we

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Speaker 5: could put it off for two to three days. That's

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Speaker 5: a short period of time because they think they're getting close,

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Speaker 5: very close to making a deal. So it's not completely

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Speaker 5: taking military action off the table, it's just postponing it.

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Speaker 5: Once again, the threat is still there and again giving

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Speaker 5: Iran an opportunity in the next couple of days to

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Speaker 5: come back to the negotiating table to at least, if

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Speaker 5: not agree on the full terms of the peace agreement.

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Speaker 5: But on a framework as to how they can push

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Speaker 5: this forward.

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Speaker 3: Interesting to hear the President say that it was Saudi Arabia,

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Speaker 3: the UAE, and Khatr among those calling for this diplomacy

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Speaker 3: when Tehran and potentially other groups have been targeting those

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Speaker 3: countries lately.

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Speaker 7: How does that factor in.

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Speaker 5: Yeah, No, it's a very valid point, and indeed, there's

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Speaker 5: been a lot of reporting, even from our own colleagues

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Speaker 5: that that said that over the course of the war,

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Speaker 5: both the UE and Saudi Arabia were actually privy themselves.

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Speaker 5: They did participate militarily in some targeted strikes on Iran,

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Speaker 5: so they were sort of passive participants. I will say

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Speaker 5: in this war, you fast forward to today, and I

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Speaker 5: think there's an understanding in the region that while there's

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Speaker 5: no love lost between Iran and the Gulf States, the

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Speaker 5: lesser of two evils would be to get a diplomatic

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Speaker 5: resolution to this, because their real concern is that Iran

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Speaker 5: would once again start striking back at energy infrastructure, energy facilities,

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Speaker 5: and you don't have to go that far. It was

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Speaker 5: over this weekend the nuclear facility in abudw was targeted.

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Speaker 5: It caused limited damage, no injuries, but it did cause

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Speaker 5: a fire, and these Gulf states are beginning to hurt economically.

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Speaker 5: So I think you know, when weighing up the options,

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Speaker 5: the better options of the two right now is to

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Speaker 5: get to a negotiated solution rather than have the risk

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Speaker 5: of things flaring up again and more damage being inflicted

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Speaker 5: on their economies and their infrastructure.

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Speaker 7: Less than a minute left.

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Speaker 3: But what could a potential diplomatic solution look like when

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Speaker 3: it seems like the US and run are still very

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Speaker 3: far apart on the fundamentals.

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Speaker 5: There are two main issues. The first is the Strait,

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Speaker 5: the second is the nuclear file on the Straight. The

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Speaker 5: Iran has asked the US to end it's blockade. The

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Speaker 5: US is said Iran has to first reopen the strait

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Speaker 5: before it can actually do so. So again, there it's

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Speaker 5: a bit of a staring match. It's a matter of

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Speaker 5: who can tolerate higher economic costs at this point. On

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Speaker 5: nuclear enrichment, the Rangers are saying that the US has

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Speaker 5: asked them to give it up completely. Iran says it

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Speaker 5: won't because they have a right to low level nuclear

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Speaker 5: Enrichmond Aaran are also asking for war reparations and guarantees

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Speaker 5: that the US won't strike again. Again, these are conditions

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Speaker 5: that the US are not going to subscribe to. So

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Speaker 5: there's still a host of issues, but ultimately, short term though,

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Speaker 5: what it boils down to is the strength of hormoes

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Speaker 5: and how the two sides are going to agree to

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Speaker 5: lift the mutual blockades that are in place.

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