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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 began with the latest from the Middle East.

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Speaker 3: The US has completed a fourth straight night of attacks

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Speaker 3: against Iran. President Trump says the strikes will continue until

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Speaker 3: he says it's enough.

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Speaker 4: We're going to hit him very hard tonight. We're going

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Speaker 4: to hit him very hard. Tomorrow night, We're gonna hit

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Speaker 4: him very hard the night after. And then next week

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Speaker 4: it gets really bad for them, because next week comes

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Speaker 4: the power plants, next week comes the bridges.

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Speaker 3: That was President Trump in an interview on Fox News.

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Speaker 3: We get more from Bloomberg Middle East correspondent abirabu Omar

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Speaker 3: in Dubai.

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Speaker 5: The United States has been attacking Iran over the past

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Speaker 5: few days, consecutively, every single night. The latest round of

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Speaker 5: strikes happened in the early hours of this morning. Girl

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Speaker 5: was finalized in the early hours of this morning here

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Speaker 5: in the Middle East. Seven hours of waves of attacks

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Speaker 5: on some weapon launchers, some military targets. President Trump, as

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Speaker 5: you just heard, saying that next week the US will

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Speaker 5: start hitting bridges, some infrastructure, in Iran, as well so

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Speaker 5: threats that have been made before.

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Speaker 3: In Bloomberg severrabo Omar reports. These latest attacks came after

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Speaker 3: President Trump backed off plans for a twenty percent charge

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Speaker 3: on cargo shipments through the Strait of Hormus. That's after

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Speaker 3: allies and the Golf urged him to drop it. The

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Speaker 3: President says the fee will be replaced by direct investment

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Speaker 3: by golf allies. He did not specify a dollar amount

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Speaker 3: or which countries would be taking part.

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Speaker 2: Nathan, let's get the latest now on an incident that

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Speaker 2: sparked protests near Portland, Maine. The ICE involves shooting of

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Speaker 2: a driver in the town of Biddeford. It is the

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Speaker 2: second time this week that ICE has used deadly force,

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Speaker 2: and at least the ninth death since President Trump began

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Speaker 2: his immigration crackdown. Protesters held a rally outside an ICE

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Speaker 2: facility in Scarborough, Maine, yesterday. Community activist Todd Creshan addressed

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Speaker 2: the crowd.

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Speaker 6: Yesterday morning, they execute it Johann Sebastian Guerrero in the

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Speaker 6: streets of Biddeford, in front of his three year old daughter.

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Speaker 6: We knew that was gonna happen, but it doesn't change

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Speaker 6: the fact that it breaks our hearts.

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Speaker 2: Activist Todd Creeshan White House borders Are Tom Homan says

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Speaker 2: the investigation into Guerrero's death still needs to play out.

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Speaker 5: Well Lands at lands, if officers acted in appropriate or illegally,

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Speaker 5: be held accountable, just.

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Speaker 2: Like they were in Minnesota and borders are Tom Holman.

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Speaker 2: The Department of Homeland Security has said the ICE agent

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Speaker 2: opened fire fearing for public safety after the driver tried

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Speaker 2: to flee a traffic stop. DHS is ordered a temporary

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Speaker 2: pause on vehicle stops to give agents for training.

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Speaker 3: Back in Washington, Karen Acting Attorney General Todd Blanche is

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Speaker 3: said to appear before the Senate for his confirmation hearing

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Speaker 3: to become the Justice Department's permanent leader. It comes just

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Speaker 3: days after a federal judge in Miami blasted Blanche for

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Speaker 3: his role in settling President Trump's ten billion dollar lawsuit

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Speaker 3: against the IRS. Ted lou Is, vice chair of the

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Speaker 3: House Democratic Caucus.

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Speaker 7: Or federal judge said that the Trump administration basically sued

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Speaker 7: itself and engage in collusion, and that this host scheme

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Speaker 7: was concocted by Department Justice attorneys. The judge void at

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Speaker 7: one point eight billion dollar January sixth slush fund and

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Speaker 7: referred their attorneys to disciplinary proceedings with the state bars.

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Speaker 3: His House Democrat Ted lou Three key Republicans on the

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Speaker 3: Senate Judiciary Committee have said they are undecided on Blanche

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Speaker 3: John Kennedy, John Cornyn, and Tom Tillis. Just one no

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Speaker 3: vote could be enough to kill Blanche's nomination.

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Speaker 2: We turned to the Economy Now, Nathan, where Kevin Worrish

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Speaker 2: returns to Capitol Hill to wrap up his congressional testimony. Yesterday,

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Speaker 2: the Fed chair said policymakers have no tolerance for high

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Speaker 2: inflation and share a commitment to restoring price stability. Worsh

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Speaker 2: testified following the release of the cooler than expected CPI report.

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Speaker 4: There might be some.

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Speaker 8: That look at this morning's data and say O mission

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Speaker 8: accomplished everything as swell.

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Speaker 2: That is not my view ed Chair. Kevin Warrish testifies

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Speaker 2: before the Senate Banking Committee today.

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Speaker 3: Well, Karen Tech stocks are leading futures higher this morning.

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Speaker 3: It comes on the heels of earnings from ASML. The

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Speaker 3: Dutch chip maker lifted its annual sales forecast for the

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Speaker 3: second time this year. ASML says a surgeon artificial intelligence

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Speaker 3: spending is driving demand for its chip making machines, and

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Speaker 3: shares of ASML traded in the US or hired by

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Speaker 3: four percent pre market.

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Speaker 2: And staying in the chip space here, Nathan, the premium

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Speaker 2: for sk Heinex's American depository receipts over at South Korean

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Speaker 2: shares sreed to more than fifty percent just three days

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Speaker 2: after their US trading debut. The ADRs game twenty seven

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Speaker 2: percent yesterday, more than recovering from a nine percent drop

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Speaker 2: a day earlier in South Korea.

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Speaker 3: On the flip side, Karen IBM had its worst day

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Speaker 3: in the markets in almost sixty years. That stock plunged

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Speaker 3: twenty five percent yesterday after it reported preliminary second quarter

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Speaker 3: sales that fell short of estimates. Big Blue attributed the

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Speaker 3: mists to customers shifting spending the chips and servers amid

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Speaker 3: AI fueled shortages.

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Speaker 2: And SpaceX shares Nathan, they are on the verge of

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Speaker 2: falling below their IPO price. In fact, the Elon Musk company,

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Speaker 2: which went public at one hundred and thirty five dollars

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Speaker 2: a share, closed just one dollar above that level yesterday.

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Speaker 2: SpaceX shares now have plunged one third from its postlisting peak,

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Speaker 2: it has a raised nearly eight hundred and fifty billion

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Speaker 2: dollars in value.

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Speaker 3: Finally, Kara, there will be no turning back the clock

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Speaker 3: if the House has its way. Lawmakers have passed a

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Speaker 3: bill that would make daylight saving time permanent. Now the

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Speaker 3: Senate would also have to pass this bill before it

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Speaker 3: can be signed into law, but it's unclear if Senators

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Speaker 3: will do so, and states could still opt out if

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Speaker 3: their respective legislatures act to do so before the bill

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Speaker 3: is enacted.

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Speaker 2: For look at some of the other stories making news

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Speaker 2: in New York and around the world, and for that

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Speaker 2: we're joined by Bloomberg's Michael Barr.

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Speaker 9: Michael, good morning, Good morning Karen. Today is forecast to

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Speaker 9: be the hottest day in this week's heat wave in

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Speaker 9: the Northeast. With more here's Bloomberg Medurola, just Craig Allen.

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Speaker 10: It did get quite uncomfortable yesterday. The heat and humidity

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Speaker 10: were on the rise. But did you notice the orange

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Speaker 10: color to the sky. It was especially prominent from New

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Speaker 10: Jersey and New York City on north to Boston. Smoke

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Speaker 10: from Canadian wildfires sound familiar. Well, that made for a

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Speaker 10: hazy day and the air quality may suffer for the

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Speaker 10: next day or two. That along with high heat and

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Speaker 10: humidity is not a good combination, especially for those with

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Speaker 10: respiratory problems. Now the thermometer will be up into the

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Speaker 10: nineties to around one hundred today, especially in the DC region,

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Speaker 10: ninety or so for New York City in Boston, and

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Speaker 10: this is likely to continue for at least another day

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Speaker 10: or two.

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Speaker 9: Bloomberg Mediurola just Craig Allen. New York Governor Kathy Hokel

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Speaker 9: announced a one year moratorium on new large data center

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Speaker 9: projects in the state. It's the nation's first such pause

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Speaker 9: at a time when anti data center politics is on

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Speaker 9: the rise around the country. Hochel spoke during a Bloomberg

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Speaker 9: Aunt Lots podcast, so.

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Speaker 11: I want to make sure that we take the time

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Speaker 11: to have a community investment framework to give the localities.

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Speaker 11: But also you have to be able to power yourselves

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Speaker 11: you want to come in. I said this in my

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Speaker 11: state of the state back in January. I launched the

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Speaker 11: Public Service Commission to start this process. They'll be done

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Speaker 11: within this year of the moratorium, so we can have

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Speaker 11: certainty for businesses. But you come here to bring your

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Speaker 11: own power source or you have to pay a premium

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Speaker 11: to use our grid, and those are the basic foundations

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Speaker 11: of what we're doing with this moratorium.

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Speaker 9: Governor huckle announced a pause on approving large data centers

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Speaker 9: that consume fifty megawatts or more of power, citing concerns

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Speaker 9: over rising utility bills and a strain on natural resources.

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Speaker 9: Catch more of the Governor's conversation with Joe Wisenthal and

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Speaker 9: Tracy Alloway on the latest edition of Bloomberg Odd Lots

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Speaker 9: available wherever you get your podcasts. Ty Offish will say

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Speaker 9: that two more people injured in a huge fire at

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Speaker 9: a Bangkok music bar have died, bringing the death toll

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Speaker 9: to thirty two. More than seventy people were injured in

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Speaker 9: the late Sunday Blaze Global News twenty four hours a

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Speaker 9: day and whenever you wanted with Bloomberg News. Now, I'm

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Speaker 9: Michael Barr. This is Bloomberg.

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Speaker 2: Karen Well, thanks Michael all the time. Now for our

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Speaker 2: Bloomberg Sports update, and for that we bring in John Stashauer.

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Speaker 12: Thanks hearing the ninety six Baseball All Star Game in

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Speaker 12: Philadelphia and the American League got to the Phillies pitcher

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Speaker 12: Christopher Sanchez in the first inning and the Cody Bellinger

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Speaker 12: two runs single, and then his Yankee teammate Ben Rice

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Speaker 12: with an RBI single. Miguel Vargas headed a home run

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Speaker 12: in the eighth d in the American League one four

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Speaker 12: to nothing. Spain over France two nothing in the World

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Speaker 12: Cup semifinals, so Spain is in the final for just

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Speaker 12: the second time ever, will play the winner of today's

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Speaker 12: game between England and Argentina. That's your Bloomberg Sports update.

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Speaker 2: Stay with us. More from Bloomberg Daybreak coming up after this.

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

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

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 3: Good morning, I'm Nathan Hager. After a fourth straight night

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Speaker 3: of attacks on Iron's missile and drone capabilities near the

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Speaker 3: Strait of Hornebo's, President Trump is promising the strikes will

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Speaker 3: only end when he says they will.

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Speaker 4: I'll save the energy tuggets for last, but ultimately we'll

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Speaker 4: hit energy targets.

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Speaker 3: Yeah, and that was President Trump speaking with Fox News.

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Speaker 3: Joining us this morning from Istanbul is Bloomberg News Middle

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Speaker 3: East Breaking News editor Patrick Sykes, Patrick can you catch

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Speaker 3: us up to speed on what has been happening in

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Speaker 3: the last twenty four hours, how intense have the attacks been,

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Speaker 3: and what kind of retaliation, if any, have we seen

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Speaker 3: from Iran.

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Speaker 13: Good morning, Good morning. Yes, the attacks do a bit

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Speaker 13: to be increasing inattendency, both on the ground, where Iran

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Speaker 13: says about thirty civilians have been killed in recent days

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Speaker 13: and also just overnight at least seven soldiers from the

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Speaker 13: army in a single attack of those strikes overnight, and

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Speaker 13: then also looking ahead, you know, with that rhetoric we

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Speaker 13: heard in the intro from Trump, he's returning to that

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Speaker 13: rhetoric about threats to civilian infrastructure like power plants. The

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Speaker 13: last time when we heard that was during the height

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Speaker 13: of the war, and it really felt like a point

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Speaker 13: from which everyone started to climb down, whereas this time around,

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Speaker 13: with the rhetoric on both sides, Iran is still very

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Speaker 13: much saying that it's not going to back down, insisting

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Speaker 13: on control over the straight of Hoar Mews. It does

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Speaker 13: feel like we're firmly back on an escalatory at Ladder

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Speaker 13: and the MoU that they signed with Pakistani mediation to

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Speaker 13: ostensibly work towards an end to the conflict appears now

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Speaker 13: to be effectively over.

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Speaker 3: And Patrick, do we have to start thinking then about

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Speaker 3: the same kind of ideas that we were thinking about

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Speaker 3: the last time President Trump made these kinds of threats

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Speaker 3: against Iran's potentially civilian infrastructure. In terms of what kind

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Speaker 3: of support the US could have from some of its

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Speaker 3: allies globally.

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Speaker 13: Yeah, I think any attacks like that would be a

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Speaker 13: very divisive move. And of course the decision to go

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Speaker 13: toward itself has already been very much so on hormones

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Speaker 13: and you know, if not the root cause of the

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Speaker 13: current situation, at least on seeking a resolution for it.

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Speaker 13: I think the US can count on a bit more

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Speaker 13: support from allies on that front, but less so when

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Speaker 13: it comes to returning to kind of outright hostilities in Iran,

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Speaker 13: particularly on those kinds of targets. The exception, of course

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Speaker 13: would be Israel, from whom we haven't yet seen participation

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Speaker 13: in these latest attacks. That's one way in which the

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Speaker 13: US Israeli alliance might seek to further up the ante,

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Speaker 13: but it's also those kinds of strikes are also something

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Speaker 13: that Iran would look to respond to in kind. We've

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Speaker 13: seen in the past that it's threatened to target, for example,

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Speaker 13: water desalination plants in Arab Gulf countries around the Persian Gulf.

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Speaker 13: That is a really critical issue for those countries, you know,

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Speaker 13: with the climate being what it is in that part

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Speaker 13: of the world, and Iran going for that kind of

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Speaker 13: critical infrastructure would be a step even beyond the kind

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Speaker 13: of energy targets that we saw last time around.

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Speaker 3: No you mentioned that the president had backed off this

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Speaker 3: type of rhetoric the first time around. Just this week

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Speaker 3: he's also backed off this idea of a twenty percent

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Speaker 3: reimbursement for cargo through the Strait of horm Moonves. There's

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Speaker 3: so much attention, of course, on maintaining free shipping through

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Speaker 3: the Strait of Hormus. What is the status of the

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Speaker 3: strait at this point? Are we still seeing some ship

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Speaker 3: being moved through. We've got just about a minute left.

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Speaker 13: Yeah, it's basically a face off over the strait, right.

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Speaker 13: The two sides disagreed just fundamentally on that particular clause

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Speaker 13: that they agreed to in the MU and as of now,

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Speaker 13: traffic is vastly reduced. We're seeing a little trickle but

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Speaker 13: you're reduced to the kind of a handful of companies

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Speaker 13: that are willing to take the risks involved to just

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Speaker 13: shuttle the relatively short distance from between either side of

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Speaker 13: that waterway and then pass on their cargo to others.

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Speaker 13: So it was already extremely restricted. The attacks of the

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Speaker 13: last few days have only made it more so.

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Speaker 3: Okay, Patrick, again, I really appreciate the update and for

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Speaker 3: checking back with us for miss standball. That is Bloomberg

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Speaker 3: News Middle East Breaking News Editor Patrick Sykes, Karen Nathan.

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Speaker 2: Let's turn now to our discussion with New York Governor

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Speaker 2: Kathy Hulgal. She sat down with Joe Wisenthal and Tracy

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Speaker 2: Alloway on Bloomberg's Odd Lots podcast discussing New York becoming

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Speaker 2: the first day to issue a more tour on new

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Speaker 2: hyper scale data centers, and also talked about energy and

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Speaker 2: AI implementation.

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Speaker 12: Let's listen in.

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Speaker 11: I launched the Public Service Commission to start this process.

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Speaker 11: They'll be done within this year of the moratorium, so

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Speaker 11: we can have certainty for businesses. But you come to

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Speaker 11: bring your own power source or you have to pay

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Speaker 11: a premium to use our grid. And those are the

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Speaker 11: basic foundations of what we're doing with this moratorium. It

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Speaker 11: is not a ban, It is simply saying, step back,

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Speaker 11: take a breath, and get it right. Businesses want that

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Speaker 11: knowledge of what the rules of the road. We've actually

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Speaker 11: had some interesting tweets from the builders of these facilities

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Speaker 11: who are now saying, hey, just tell us the rules,

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Speaker 11: tell us the regulations. We're okay with that, and that's

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Speaker 11: exactly what we're doing. But also responds to a lot

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Speaker 11: of frustration from these communities, from people who don't think

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Speaker 11: that they're paying their fair share, that they're just coming

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Speaker 11: in and start forcing themselves in, and that's really annoying

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Speaker 11: to people. They've had enough. Americans have had enough.

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Speaker 14: So this is the US's first statewide moratorium on data centers,

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Speaker 14: which means inevitably this is going to be seen as

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Speaker 14: a test case or an experiment. When you think about this,

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Speaker 14: what exactly is it you're trying to I guess, prove

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Speaker 14: or disprove, or achieve, Like, what are you looking for here?

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Speaker 14: What should the outcome of the moratorium? Actually very specific goals.

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Speaker 11: My Public Service Commission will take this year to devise

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Speaker 11: a plan where we figure out how to make sure

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Speaker 11: that they bring their own power or that they're substantially

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Speaker 11: contributing to the grid. Secondly, I want them to contribute it.

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Speaker 11: This takes time for a government to get this right.

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Speaker 11: Put I'm establishing a larger grid resiliency fund. I want

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Speaker 11: them to make major contributions so I can invest in

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Speaker 11: the energy grid, the transmission lines, and everything else that

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Speaker 11: has been ignored for so long. That's one of the

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Speaker 11: reasons why our energy infrastructure is crippled. The investments were

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Speaker 11: not made. So you're going to contribute to the locality.

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Speaker 11: You're going to contribute to bring your own power and

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Speaker 11: also this larger dynamic. So that's that we're looking for.

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Speaker 11: Those are very specific. I have agencies all working on

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Speaker 11: them now, about seven or eight agencies dedicated to this.

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Speaker 11: I'll put the person power behind this and we will

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Speaker 11: be a template for doing it right right.

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Speaker 8: We know in some instances, I think I've seen headlines

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Speaker 8: like in Louisiana, for example, the big Meta not campus

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Speaker 8: data center. It's like there's going to be you know,

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Speaker 8: payments to teachers in the area. The idea I suppose

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Speaker 8: is okay, any place that's open for data center business,

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Speaker 8: let's make sure that we get these, you know, the

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Speaker 8: same agreements that are being put in place elsewhere to

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Speaker 8: benefit the community. How should we like more toria can

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Speaker 8: become bands?

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Speaker 9: Right?

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Speaker 8: Something is like we're going to put this in place

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Speaker 8: for one years and then it's two years, we're still

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Speaker 8: working out the rules of the road. That is five

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Speaker 8: years and then you never have them. What sort of

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Speaker 8: like do you are you actively trying to avoid this

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Speaker 8: becoming a band?

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Speaker 11: I'm not expecting the need for a ban. I want

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Speaker 11: them to work with a No. I understand how important

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Speaker 11: AI is. I mean, we are in a revolution. This

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Speaker 11: is the winds of change. You're coming in at hurricane

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Speaker 11: force and it's disruptive, but it also be very positive.

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Speaker 11: And I'll tell you my commitment to AI goes back

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Speaker 11: years when I launched the first in the nation development

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Speaker 11: of a supercomputer, the largest outside any private company is

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Speaker 11: being built in New York for public good. What does

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Speaker 11: that mean? All of our universities can tap into power,

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Speaker 11: computing power that is unavailable to them otherwise. We are

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Speaker 11: innovating new therapies and cancer working on it right now

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Speaker 11: up in Buffalo. We are also trying to solve some

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Speaker 11: of other societies other problems and even weather forecasting. I

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Speaker 11: mean you and not believe the disasters I have to

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Speaker 11: deal with this governor. You know, heat waves, blizzards, floods, storms,

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Speaker 11: and so as, all kinds of positive ways we can

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Speaker 11: use AI.

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