WEBVTT - US & Iran Weigh More Talks; China Says World Order ‘Crumbling’

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<v Speaker 1>Bloomberg Audio Studios, podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Alexis Christophers.

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<v Speaker 3>Here are the stories we're following today.

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<v Speaker 2>A like since we begin with the latest developments in

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<v Speaker 2>the war in the Middle East. The US and Run

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<v Speaker 2>are considering a second round of talks before their two

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<v Speaker 2>week ceasefire ends next week. Reuters is reporting negotiating teams

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<v Speaker 2>from both sides could return to Islamabad this week. Vice

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<v Speaker 2>President Jade Vance led the discussions that broke down over

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<v Speaker 2>the weekend. He was asked on Fox News about the

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<v Speaker 2>prospect of a second round.

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<v Speaker 4>Are there more talks coming, do they happen in Pakistan?

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<v Speaker 5>And are you leading them?

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<v Speaker 4>Well, it's an interesting question, bretton. I think fundamentally it's

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<v Speaker 4>a question that would be best put to the Iranians

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<v Speaker 4>because the ball really is in their court. We've made

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<v Speaker 4>clear where we're willing again to be accommodating, and we've

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<v Speaker 4>made clear where we absolutely need to see the nuclear

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<v Speaker 4>material come out of the country of Iran.

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<v Speaker 2>Vice President Jadvan spoke Fox's Brett Baher as President Trump

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<v Speaker 2>presses ahead with a naval blockade on Iran. Bloomberg's owner

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<v Speaker 2>Aunt has more from Dubai.

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<v Speaker 6>The blockade is aimed at intercepting or stopping any oil

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<v Speaker 6>or other vessels going into or out of the Pressure

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<v Speaker 6>Gulf if there if one of their destinations is Iran,

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<v Speaker 6>so in theory it should bring to nearly zero what

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<v Speaker 6>was already a trickle of regular traffic through the Strait of.

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<v Speaker 2>Home with Bloomberg's owner on reports, a sanctioned vessel linked

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<v Speaker 2>to China is testing the blockade. A medium range tanker

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<v Speaker 2>named rich Starry is trying to exit the Straight for

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<v Speaker 2>the second time in less than twenty four hours, and.

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<v Speaker 3>Nathan Chinese President Jijinping is making his first remarks on

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<v Speaker 3>the Iran War since the US and Israel began attacks

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<v Speaker 3>more than a month ago. She is vowing to play

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<v Speaker 3>a constructive role in the Middle East. At a meeting

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<v Speaker 3>with Spain's Prime Minister Patro Sanchez, she said that peace

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<v Speaker 3>must be prioritized.

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<v Speaker 7>Both China and Spain are principled and moral countries, both

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<v Speaker 7>willing to stand on the right side of history. We

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<v Speaker 7>should strengthen communication, consolidate mutual trust, cooperate closely, oppose the

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<v Speaker 7>world's regression, the law of the Jungle, and jointly safeguard

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<v Speaker 7>genuine multilateralism and global peace and development.

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<v Speaker 3>Chinese President Hijin Peg, speaking there through an interpreter, describe

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<v Speaker 3>the international order as quote crumbling into disarray.

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<v Speaker 2>Well with the war under way Alexais. President Trump has

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<v Speaker 2>been feuding with Pope Leo the fourteenth that has led

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<v Speaker 2>to a controversy on social media. The President posted an

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<v Speaker 2>AI generated image that seemed to depict him as a

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<v Speaker 2>christ like figure healing a sick patient. He has since

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<v Speaker 2>deleted that photo, but he says it wasn't an accident.

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<v Speaker 8>I did first it and I thought it was me

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<v Speaker 8>as a doctor and had to do with Red Cross

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<v Speaker 8>as a Red Cross worker there, which we support, and

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<v Speaker 8>only the fake news could come up with that one.

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<v Speaker 2>The President Trump called Publio week on Crime after the

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<v Speaker 2>pawn Off spoke out against the war. The President didn't

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<v Speaker 2>explain why he deleted the post, but it did spark

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<v Speaker 2>a backlash, including from some of his supporters. Vice President

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<v Speaker 2>Vance told Fox News the President took it down because

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<v Speaker 2>people didn't understand his humor.

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<v Speaker 3>A couple of departures from Congress on both sides of

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<v Speaker 3>the isle, Democrat Eric Swalwell and Republican Tony Gonzalez said

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<v Speaker 3>they plan on leaving their seats in the wake of

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<v Speaker 3>allegations of sexual misconduct. Swalwell announced his intent to resign,

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<v Speaker 3>saying he must take responsibility and ownership for the mistakes

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<v Speaker 3>he did make, while also vowing to fight the serious

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<v Speaker 3>false allegations made against him. Gonzala said he planned on

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<v Speaker 3>filing his retirement from office after allegations that he had

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<v Speaker 3>an affair with a staffer who later died by suicide.

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<v Speaker 2>Okay, let's turn to the markets now. Alexis futures are

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<v Speaker 2>indicating the recent Wall Street rally has legs.

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<v Speaker 9>Right now.

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<v Speaker 2>S and P futures are up three tenths of one percent,

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<v Speaker 2>or nineteen points. The S and P five hundred index

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<v Speaker 2>has now erased all its losses since it's the start

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<v Speaker 2>of the war. Max Wasserman is senior portfolio manager at

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<v Speaker 2>Miramar Capital.

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<v Speaker 10>Every word the President says, the market makes a move

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<v Speaker 10>right and it seems to want to discount any potential

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<v Speaker 10>negativity towards the positive uptrend. So to me, this market

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<v Speaker 10>is basically discounting nothing negative and is extremely optimistic.

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<v Speaker 2>Miramar Capitals Max Wasserman. The SMP five hundred had fallen

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<v Speaker 2>almost eight percent since the war. Meanwhile, West Texas intermediate

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<v Speaker 2>oil prices climbed fifty one percent in March, and checking

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<v Speaker 2>crude this morning, it's pulling back a bit, with WTI

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<v Speaker 2>crewed down about two and a half percent at ninety

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<v Speaker 2>six dollars fifty eight cents per barrel, while Brent is

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<v Speaker 2>down one point one percent at ninety eight dollars twenty

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<v Speaker 2>seven cents.

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<v Speaker 3>And Nathan, we are seeing more effects of the war.

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<v Speaker 3>The International Energy Agency says global oil demand will decline

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<v Speaker 3>this year for the first time since the twenty twenty pandemic.

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<v Speaker 3>The IEA says the war has triggered the biggest supply

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<v Speaker 3>disruption in history because oil flows through the Persian Gulfs

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<v Speaker 3>Strait of Horror moves have been choked off. And in

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<v Speaker 3>company news, we've got shares of American Airlines up more

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<v Speaker 3>than four percent here in early trading, sources tell Bloomberg.

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<v Speaker 3>United Airlines CEO Scott Kirby has floated a possible combination

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<v Speaker 3>with American Airlines. A combination of United and American would

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<v Speaker 3>create the largest airline and post serious antitrust concerns, It

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<v Speaker 3>would likely face significant backlash from consumers, politicians, and rival

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<v Speaker 3>US airlines.

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<v Speaker 2>Yeah, we're also watching shares of global Star this morning.

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<v Speaker 2>Alexus there more than fifteen percent. Bloomberg News has learned

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<v Speaker 2>Amazons in advanced talks to acquire the satellite operator as

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<v Speaker 2>it builds out its low Earth orbit network in a

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<v Speaker 2>bid to compete with Elon Musk's SpaceX. It's fast growing

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<v Speaker 2>Starlink unit has more than ten million active customers in

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<v Speaker 2>about ten thousand satellites in orbit.

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<v Speaker 6>Time.

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<v Speaker 3>Now for a look at some of the other stories

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<v Speaker 3>making news in New York and around the world. For that,

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<v Speaker 3>we're joined by Bloomberg's John Tucker.

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<v Speaker 5>Good Morning, John, Good morning of LIKESUS.

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<v Speaker 9>Members of a congressional panel Laura sent to meet with

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<v Speaker 9>Pentagon officials tonight. They'll discuss the Trump administration's request a

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<v Speaker 9>supercharged military spending. The Office of Management and Budget has

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<v Speaker 9>asked that three hundred and fifty billion dollars go through

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<v Speaker 9>the budget reconciliation process, which allows the Senate to bypass

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<v Speaker 9>the filibuster. The federal government has agreed the Rainbow Pride

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<v Speaker 9>flag can fly at the Stonewall National Monument in Manhattan.

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<v Speaker 9>That story from Bloomberg's Charlie Pellett.

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<v Speaker 5>It's a course reversal after removing the flag. In February,

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<v Speaker 5>the government revealed the decision in court papers as it

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<v Speaker 5>agreed to settle a lawsuit filed by LGBTQ Plus and

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<v Speaker 5>historic preservation groups, who had sought to block the removal.

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<v Speaker 5>Lawyers for the government and the groups wrote in a

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<v Speaker 5>joint court filing that the Interior Department and National Park

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<v Speaker 5>Service have confirmed their intention to maintain a Pride flag

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<v Speaker 5>at Stonewall in New York. Charlie Pellett, Bloomberg Radio.

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<v Speaker 9>And prosecutors have filed attempt at murder and other criminal

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<v Speaker 9>child arches against a man for allegedly throwing a Maltov

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<v Speaker 9>cocktail at the home of OpenAI chief executive officer Sam Altman.

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<v Speaker 9>No one was injured in the attack. Canadian Prime Minister

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<v Speaker 9>Mark Carney secured a majority government after his Liberal Party

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<v Speaker 9>won three key special elections. It gives his administration the

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<v Speaker 9>ability to push ahead faster with an economic agenda centered

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<v Speaker 9>on expanding energy exports and reducing Canada's reliance on the US.

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<v Speaker 9>The twenty twenty six Rock and Roll Hall of Fame

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<v Speaker 9>inductees have been announced in among them, Phil Collins, Billy Idol,

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<v Speaker 9>Iron Maiden an Oasis is going to be Collins's second

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<v Speaker 9>induction into the Hall of Fame. He's previously inducted in

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<v Speaker 9>twenty ten as a member of Genesis Global News twenty

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<v Speaker 9>four hours a day, whenever you wanted with Bloomberg News. Now,

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<v Speaker 9>I'm John Tucker. This is Bloomberg Alexis.

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<v Speaker 3>Thanks John, time out for our Bloomberg Sports update, and

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<v Speaker 3>for that you bring in John stash hour.

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<v Speaker 11>A wild baseball game in New York, a game where

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<v Speaker 11>Mike Out, Trent Grisham, and Aaron Judge all homer twice.

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<v Speaker 11>The Yankees scored three runs in the bottom of the

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<v Speaker 11>night the even beat the Angels eleven to ten. They

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<v Speaker 11>held the WNBA draft, and the Dallas Wings, with the

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<v Speaker 11>first pick overall, took Yukon guard Asy Fudd. UCLA, who

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<v Speaker 11>just won the National Championship, saw five players get drafted

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<v Speaker 11>in the first round. The NBA play in games beginning

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<v Speaker 11>tonight with Miami at Charlotte, Portland at Phoenix. That's your

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<v Speaker 11>Bloomberg Sport update.

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<v Speaker 2>Stay with us. More from Bloomberg Daybreak coming up after this.

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<v Speaker 1>Coast to Coast on Bloomberg Radio nationwide on Serious Exam

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business out. This is Bloomberg Daybreak.

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<v Speaker 2>Good morning on Nathan Hager. Markets and the world are

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<v Speaker 2>holding out for the prospect of a second round of

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<v Speaker 2>talks between the US and Iran, even with a blockade

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<v Speaker 2>aimed at Tehran's oil exports under way. President Trump says

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<v Speaker 2>his goal is clear, we can't.

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<v Speaker 8>Let a country blackmail or extort the world, because that's

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<v Speaker 8>what they're doing. They're really blackmailing the world. We're not

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<v Speaker 8>going to let that happen.

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<v Speaker 2>And that was President Trump at the White House yesterday.

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<v Speaker 2>Joining us this morning from Dubai is Bloomberg Middle East

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<v Speaker 2>correspondent Jumana Bressecci, the anchor of Bloomberg Horizons. Jumana, what

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<v Speaker 2>is the prospect of our second round of negotiations as

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<v Speaker 2>the Strait of Horror moves apparently is under blockade?

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<v Speaker 12>Good morning, Yeah, good morning. Well, there is plenty of

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<v Speaker 12>reporting overnight suggesting that there has been good momentum or

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<v Speaker 12>progress towards moving to a second round of negotiations, even

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<v Speaker 12>our own colleagues at Bloomberger saying that we have heard

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<v Speaker 12>from various sources that there is appetite to do another

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<v Speaker 12>round of talks. And of course you have to remember

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<v Speaker 12>that the clock is ticking because the seasfire does, in

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<v Speaker 12>theory expire on April twenty first, So the idea would

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<v Speaker 12>be to have another round of talks before the seasfire

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<v Speaker 12>comes to an end. President Trump himself yesterday said that

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<v Speaker 12>he'd received a call from the Iranians, from the right people,

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<v Speaker 12>he said, and he cited them as one thing to

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<v Speaker 12>make a deal. We also heard from the Iranian president

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<v Speaker 12>overnight who said that they are willing to continue with

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<v Speaker 12>negotiations so long as it's done within a quote unquote

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<v Speaker 12>international framework. So yes, there's definitely momentum. Whether again this

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<v Speaker 12>time the two sides can meet with the view of

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<v Speaker 12>actually achieving a breakthrough because they still seem to be

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<v Speaker 12>pretty far apart from the last round of negotiations is

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<v Speaker 12>up for debate, but certainly it comes as a relief

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<v Speaker 12>I would say to the region, to the world that

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<v Speaker 12>there is positive momentum on the diplomatic channel.

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<v Speaker 2>We did see the breakdown of talks in Islam about

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<v Speaker 2>over the weekend, led by Vice President JD. Vancy was

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<v Speaker 2>on Fox News last night talking about the prospect of

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<v Speaker 2>another round. What is our sense of where the two

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<v Speaker 2>sides stand now in terms of what they are looking

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<v Speaker 2>for from each other.

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<v Speaker 12>Yeah, well, you remember when we were discussing a couple

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<v Speaker 12>of weeks ago about the various proposals that the US

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<v Speaker 12>for putting forward the ten point proposal versus the fifteen

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<v Speaker 12>point proposal, on how far part the two were. I

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<v Speaker 12>think now what we can say is it's been condensed

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<v Speaker 12>to a matter of a couple of topics, and those topics,

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<v Speaker 12>from what we understand from our reporting, from our sourcing,

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<v Speaker 12>really boiled down to the strait, which is why the

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<v Speaker 12>President Trump introduced their own version of a blockade yesterday

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<v Speaker 12>in the late hours of the afternoon. So far seems

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<v Speaker 12>to be uneventful. And the second point is again the

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<v Speaker 12>very nexus of all of this, which is Iran's nuclear ambitions.

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<v Speaker 12>And I just to refer back to Jed Evans because

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<v Speaker 12>you got it to now. The day he left Islamabad,

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<v Speaker 12>he said quite clearly that they did not receive sufficient

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<v Speaker 12>assurances from Iran that not only would they not go

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<v Speaker 12>on to develop a nuclear bomb, that they don't have

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<v Speaker 12>the ambition to do so, but also that they would

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<v Speaker 12>relinquish the tools that would allow them to develop a

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<v Speaker 12>nuclear bomb. So it's not just about the ambition, but

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<v Speaker 12>it's also the tools as well.

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<v Speaker 7>I e.

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<v Speaker 12>There's centrifuges, and of course that four hundred kilo plus

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<v Speaker 12>pile of enriched uranium that there's on So you have

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<v Speaker 12>to imagine that from the US's perspective, if they want

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<v Speaker 12>to get this deal over the line, there has to

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<v Speaker 12>be some form of retrieving that enriched softfill, alongside assurances

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<v Speaker 12>from Iran that they will keep their enrichment at low

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<v Speaker 12>levels or at no levels, and in return, Iran are

0:12:16.760 --> 0:12:19.160
<v Speaker 12>going to be pushing very aggressively for a win that

0:12:19.200 --> 0:12:22.400
<v Speaker 12>they can present back home, which would probably include sanctions

0:12:22.440 --> 0:12:22.920
<v Speaker 12>for relief.

0:12:24.520 --> 0:12:27.679
<v Speaker 3>This is Bloomberg Daybreak, your morning podcast on the stories

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