Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with the latest from the Middle East.
Speaker 3: President Trump says he is giving Iran a last chance
Speaker 3: to engage in talks after calling off what he says
Speaker 3: would have been a major attack on the Islamic Republic.
Speaker 4: I want to give him every last chance before decapitation.
Speaker 5: Very tough to do with what we have planned still planned.
Speaker 3: We'll see what happens. President Trump spoke to reporters in
Speaker 3: the Oval Office. Now, Tehran denies its in negotiations with
Speaker 3: the US, but it says talks with Oman to get
Speaker 3: more ships moving through the Strait of Horror moves for
Speaker 3: making progress. We get more from Bloomberg Middle East correspondent
Speaker 3: to Birabu Olmar in Dubai.
Speaker 6: The Ron Andleman are holding negotiations to open a middle
Speaker 6: passageway in the Street of her Moves that would allow
Speaker 6: for a trickle of movement of ships and vessels that
Speaker 6: have been trying to make their way through the Strait
Speaker 6: of removes. And up until yesterday, and we've really been
Speaker 6: still seeing cargo ships attacked in the Strait of Removes,
Speaker 6: and so this negotiation that is taking place between those
Speaker 6: two countries still very much key about opening up a
Speaker 6: pathway that could help ships make their way through the waterway.
Speaker 3: Bloomberg Sabirabo Omar reports a senior Iranian official called on
Speaker 3: the US last night to quote take the first step
Speaker 3: and change its behavior by returning to the terms of
Speaker 3: the interim deal that both sides struck in June.
Speaker 2: Elsewhere in Washington, Nathan Attorney General nominee Todd Blanche's confirmation
Speaker 2: maybe moving forward in the Senate to hold out. Republican
Speaker 2: senators are bagging a deal with Blanche to formally rescind
Speaker 2: an order for a so called anti weaponization fund. And
Speaker 2: he's clarified the scope of President Trump's immunity deal with
Speaker 2: the IRS that limits it to the Tax Agency and
Speaker 2: not other agencies like the Justice Department. President Trump says
Speaker 2: he was not involved in the deal.
Speaker 7: I don't know what they agreed.
Speaker 8: I think Todd Blanche agreed to reconfirm things that he's
Speaker 8: already said, and what he said was ok.
Speaker 2: President Trump, again, speaking from the Oval Office. Administration critics
Speaker 2: say Blanche's deal still doesn't change the text of either
Speaker 2: the anti Weaponization Order or the president's immunity from audits,
Speaker 2: and the Senate Judiciary Committee has kilded a vote on
Speaker 2: Blanch's confirmation Today.
Speaker 3: And Karen elections are in focus today as well, as
Speaker 3: voters head to the polls in a handful of states.
Speaker 3: Bloomberg Zamie Morris reports from Washington.
Speaker 1: Michigan voters will decide a competitive Democratic primary that will
Speaker 1: test the party's progressive wing. Representative Hailey Stevens takes on
Speaker 1: former health official Abdul lc Ed. The winner will face
Speaker 1: former Representative Mike Rogers in November. Virginia voters will choose
Speaker 1: nominees for the House and Senate, including in the second
Speaker 1: congressional district, where there could be a rematch between two
Speaker 1: term Republican Jen Kiggins and the Democrats she unseated in
Speaker 1: twenty twenty two former Representative Elaine Luria. Primary contests are
Speaker 1: also taking place in Washington, Kansas, and Missouri. Eight In Washington,
Speaker 1: Amy Moore as Bloomberg Radio.
Speaker 2: Right, Ami, thank you. Let's turn to the markets now,
Speaker 2: where futures are higher following yesterday's gains on Wall Street,
Speaker 2: The S and P five hundred rows one and a
Speaker 2: half percent. It is now just striking distance of a record.
Speaker 2: The positive earning season is helping fuel gains. The S
Speaker 2: and P five hundred companies are beating expectations at a
Speaker 2: rate of eighty six percent. That's the highest in five years.
Speaker 2: According to Bloomberg Intelligence.
Speaker 3: And in Earnings beats giving a lift this morning to
Speaker 3: shares a Palenteer Karen, they are up nearly seventeen percent.
Speaker 3: The software developer and major military vendor also raised its
Speaker 3: revenue and income forecasts for the full year. Palenteer CEO
Speaker 3: Alex Karp described demand for his company's data analytics tools
Speaker 3: as quote otherworldly.
Speaker 2: Well Nathan. The earnings continue today with fifty companies reporting.
Speaker 2: They include a drug makers Pfizer and Merk, as well
Speaker 2: as tech companies Advanced micro Devices and SpaceX. We get
Speaker 2: more on Elon Musks SpaceX with Bloomberg's Charlie Pellett.
Speaker 5: It's SpaceX's first earnings report. Who's a public company? Analysts
Speaker 5: are likely to press SpaceX CEO Elon Musk on the
Speaker 5: company's newly acquired AI business and the massive spending associated
Speaker 5: with it. Julie ju is research analyst at Moffett Nathanson.
Speaker 6: What you're really going to see coming out of the
Speaker 6: numbers is you're probably going to see a feat in
Speaker 6: the AI business, and.
Speaker 2: You're also going to see continued spend in that business.
Speaker 5: Key topics could also be progress on the company's massive
Speaker 5: Starship rocket and how quickly it will be able to
Speaker 5: launch satellites and people, and plans for becoming a consumer
Speaker 5: wireless operator in New York. Charlie Pellett, Bloomberg Radio, all right, Charlie,
Speaker 5: thank you.
Speaker 3: In Europe, HSBC has announced a new billion dollars share
Speaker 3: buyback after reporting second quarter earnings that beat estimates. The
Speaker 3: bank also raised its cost saving target to two billion
Speaker 3: dollars by the end of this year. We spoke with
Speaker 3: HSBC's CEO, Georgie Henry.
Speaker 8: We are becoming the stronger bank that we set out
Speaker 8: to build. We're very pleased with what we announced this morning.
Speaker 8: We're growing across all our indicators of revenue growing or
Speaker 8: law loans and deposits are growing, our income is growing.
Speaker 8: We generated returns of nineteen and a half percent on
Speaker 8: tangible equity, so this is you know, this is a
Speaker 8: good demonstration of a strong business momentum. We're also very
Speaker 8: pleased with the progress we're making on the strategy, which
Speaker 8: we're executing with precision, with discipline, and at pace.
Speaker 3: HSBC CEO Georgia Henry also says the lender will consider
Speaker 3: boosting its bonus pool for bankers if strong performance continues.
Speaker 3: So the shares are underperforming this morning here and they're
Speaker 3: down one point six percent.
Speaker 2: Well, BP shares, Nathan, they're higher, They're up one and
Speaker 2: a half percent. The oil giants adjusted net income were
Speaker 2: then doubled from a year earlier as the Middle East
Speaker 2: wore royaled oil and gas markets. And we spoke earlier
Speaker 2: with CEO Meg O'Neil.
Speaker 9: We still have quite a bit of work to do,
Speaker 9: so I've been with BP for four months now. I'm
Speaker 9: very pleased with many of the things I've seen. It's
Speaker 9: a group of what really amazing people who are very
Speaker 9: focused on delivering the highest value for the corporation and
Speaker 9: growing shareholder value every single day. But that said, there
Speaker 9: are nificant areas for improvement. That balance sheet is first
Speaker 9: and foremost an area of challenge. You know, we're carrying
Speaker 9: financial liabilities when compared to the size of the corporation
Speaker 9: that are just too.
Speaker 2: High BP CEO Meg O'Neil so. Several companies have expressed
Speaker 2: interest in buying VP's north Sea business.
Speaker 3: And as oil companies continue to brank in record profits
Speaker 3: during the Iran warcare and President Trump is criticizing the
Speaker 3: biggest oil majors in the US, saying they are quote
Speaker 3: making too much money.
Speaker 2: Chevron too much money, ex On Mobile, too much money.
Speaker 10: When you look at one company where they made twelve
Speaker 10: times what they made the year before.
Speaker 4: They're going to give some of that back to the public,
Speaker 4: and they better cut.
Speaker 3: The retail price, the consumer price. Too much money. You surprised.
Speaker 3: I'm saying it. I'll say it loud and clear. I'm
Speaker 3: not happy about it. And that again was President Trump
Speaker 3: in the Oval office. X On Mobile and Chevron made
Speaker 3: twenty nine billion dollars combined in the second quarter. That's
Speaker 3: that mounts to about three hundred and eighteen million dollars
Speaker 3: per day, and it is more than three three times
Speaker 3: the same period a year ago.
Speaker 2: Nathan, we have a milestone for Apple, the company you said,
Speaker 2: it exceeded ten billion dollars in annual sales in India
Speaker 2: for the first time. Last fiscal year, iPhones accounted for
Speaker 2: a significant majority of the sales. India's emerging as one
Speaker 2: of Apple's key sales regions outside of the US and China,
Speaker 2: with the company steadily ramping up its retail network in
Speaker 2: the country.
Speaker 3: Karin, Amazon has become the fifth company to surpass a
Speaker 3: three trillion dollar market value, joining in Video, Alphabet, Microsoft,
Speaker 3: and Apple in that exclusive club. After the bell, it
Speaker 3: was announced that Amazon chair and founder Jeff Bezos filed
Speaker 3: to sell more than four billion dollars worth of the
Speaker 3: company's stock, and those shares are lower bound down more
Speaker 3: than one percent in the pre market.
Speaker 2: I mean, do you have a programming note here, Nathan.
Speaker 2: Bloomberg Radio is introducing a new feature exclusively for Bloomberg
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Speaker 2: Bloomberg dot Com slash Ask Radio. Time Now for look
Speaker 2: at some of the other stories making news in New
Speaker 2: York and around the world, And for that We're joined
Speaker 2: by Bloomberg's Michael Barr.
Speaker 3: Michael, Good Morning, Good morning, Karen.
Speaker 7: President Donald Trump said he's upset with US Attorney Janine
Speaker 7: pirot over her efforts to dismiss charges against the man
Speaker 7: accused of vandalizing the Lincoln Memorial reflecting pool. President Trump
Speaker 7: believes Piro choked when dismissing charges against US Olympic canoeist
Speaker 7: David Hernon.
Speaker 10: I was disappointed with Janine Piro, really disappointed with Janine Perro.
Speaker 4: She she folded like an umbrella.
Speaker 7: Meanwhile, Hearns's attorney said this was proof the evidence was
Speaker 7: just not there. Joshua Cole, manager of Rapid Legal Response
Speaker 7: at Democracy Defenders.
Speaker 11: Action, they finally had to face facts and face the
Speaker 11: reality that their entire case was crumbling before them, and
Speaker 11: so this is the only natural and launchical next step,
Speaker 11: regardless of how highly unusual it is for this to happen.
Speaker 7: Piros said the evidence provided by the Interior Department showed
Speaker 7: the contractor hired to replace the liner was to blame.
Speaker 7: In Michigan, state health officials say two people have died
Speaker 7: in the cyclospora outbreak. They are the first confirmed deaths
Speaker 7: in the US related to the microscopic parasite. Officials said
Speaker 7: that both had underlying health conditions, and arrest has been
Speaker 7: made related to one of the three wildfires burning in
Speaker 7: Washington State. Aaron Fernacci, who is thirty seven, was arrested
Speaker 7: last night for allegedly starting the Old Trails fire Saturday afternoon.
Speaker 7: Spokane County's Sheriff John Knowles said the blaze consumed thousands
Speaker 7: of acres and destroyed hundreds of buildings, most of them homes.
Speaker 7: Knowles says he credits an observant citizen with reporting suspicious behavior.
Speaker 7: Before seeing smoke rising.
Speaker 5: He noticed the male bending down near some grass.
Speaker 9: At that point, the male stood up and looked very nervous,
Speaker 9: according to our citizen witness.
Speaker 7: Sheriff Knowles says Farinacci will make his first court appearance today.
Speaker 7: Global News twenty four hours a day and whenever you
Speaker 7: want it with the Bloomberg News Now Michael Barr and
Speaker 7: this is Bloomberg Karen.
Speaker 2: Thanks Michael, time now for our Bloomberg Sports update, and
Speaker 2: for that we bring in John Stashauer.
Speaker 7: Thanks care.
Speaker 10: A lot of wheeling and dealing before the baseball trade deadline.
Speaker 10: Maybe the biggest move was Baltimore, trading away catcher Adlee Rutchman,
Speaker 10: who was once the first overall pick of the draft.
Speaker 10: A three time All star catcher, he got sent to
Speaker 10: the Red Sox. Luis Theres, a three time batting champ,
Speaker 10: goes from the giants of the Phillies, who will move
Speaker 10: Bryce Harper back to the outfield. The Mets waving the
Speaker 10: white flag on the season they traded away five different players.
Speaker 10: Mauricio Pochettino, the coach of the US men's national team
Speaker 10: in the World Cup, keeps his job. That's your Bloomberg
Speaker 10: Sports Update.
Speaker 2: Stay with us more from Bloomberg Daybreak coming up after this.
Speaker 3: Coast to coast on Bloomberg Radio, nationwide on Serious Exam
Speaker 3: and around the world on Bloomberg dot Com and the
Speaker 3: Bloomberg Business app. This is Bloomberg Daybreak. Good morning. I'm
Speaker 3: Nathan Hager. President Trump is delivering what he says is
Speaker 3: a final warning to Iran after calling off a major
Speaker 3: attack over the weekend to come back to the negotiating table.
Speaker 3: This is the last chance. This is not something that
Speaker 3: it doesn't happen. This is the last chance for them.
Speaker 2: To sign a good document.
Speaker 3: That was President Trump and Oval office from Markstore reporters yesterday.
Speaker 3: Joining us this morning is Mark Champion, who covers the
Speaker 3: Middle East for Bloomberg Opinion. Mark, do you see this
Speaker 3: as a potential last chance for Iran? Good morning? Good morning.
Speaker 4: I mean, we've been here half a dozen times before.
Speaker 4: I think there's you know, it's perfectly possible that President
Speaker 4: Trump will order more air strikes, you know, if the
Speaker 4: Uranians don't sign an agreement. You know, but there's a
Speaker 4: lot of kind of weirdness in here. So first of all,
Speaker 4: you know, the US says that the talks are between
Speaker 4: the US and Iran.
Speaker 3: The Uranians say they aren't.
Speaker 4: They're only talking to the omanis about a very limited
Speaker 4: deal on.
Speaker 3: You know, controlling the Strait.
Speaker 4: So exactly what the document is that you know, President
Speaker 4: Trump wants them to sign not quite clear. If it
Speaker 4: is the Yourmani document, it's going to be one that
Speaker 4: you know, gives the Iranians some control over the Strait.
Speaker 4: They've been very clear that they're not signing anything that
Speaker 4: doesn't and that's control that they didn't have before the war.
Speaker 4: And the purpose of that is a to raise money
Speaker 4: and be to maintain geopolitical leverage. So that this becomes
Speaker 4: a deterrent in their kind of you know, toolbox for
Speaker 4: dealing with other countries, for dealing with the US. Not
Speaker 4: exactly a great outcome for the US, so not kind
Speaker 4: of by definition a good document for the US.
Speaker 3: Well, one thing we have heard from the Iranians is
Speaker 3: that they want the US to, I guess, come back
Speaker 3: to the terms of the June interim deal. That seems
Speaker 3: like it's by the wayside now with these talks going
Speaker 3: on with oman What are the chances of that happening
Speaker 3: coming back to the interim deal.
Speaker 4: Well, a lot of the interim deal, you know, if
Speaker 4: the interim deal is extremely vague. So when the Iranians
Speaker 4: said we want to get back to that, they mean
Speaker 4: that we want to get back to the our interpretation
Speaker 4: of that deal. Their interpretation of that deal was that
Speaker 4: it you know, it said and it actually did say that,
Speaker 4: you know, control of the you know, the status of
Speaker 4: the Strait would be down to a negotiation between the
Speaker 4: Iranians and the Omanis and they would or you know.
Speaker 3: Create a new arrangement.
Speaker 4: But what the you know, their interpretation was that until
Speaker 4: that was all done, you know, they still got to
Speaker 4: control the straight The American interpretation was no, this is
Speaker 4: going to be free traffic, and the ergo you had,
Speaker 4: the deterioration that we had and the end of the ceasefire.
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