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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 on the standoff between

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Speaker 3: the US and Iran. With the US blockade of Iran

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Speaker 3: sports still in effect and the Strait of Horror moves

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Speaker 3: at a near standstill, President Trump says the US will

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Speaker 3: begin guiding some neutral ships through the strait starting today.

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Speaker 3: The President announced the effort, dubbed Project Freedom, in a

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Speaker 3: social media post. We get more from Bloomberg's Jumana Borsecci

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Speaker 3: in Dubai.

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Speaker 4: Certainly there is a humanitarian necessity to get some of

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Speaker 4: those vessels out of the Persian Gulf. They've been stranded

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Speaker 4: there since the beginning of the wars. Estimated that they're

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Speaker 4: about eight hundred ships just sitting there, twenty thousand seafarers

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Speaker 4: facing pretty dark conditions, extreme stress, fatigue, food and water shortages.

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Speaker 4: So yes, most certainly there is a humanitarian needs to

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Speaker 4: help those that are chopped there.

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Speaker 3: Bloombergs Jumana Burssecci reports the President did not give specifics

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Speaker 3: on how the US would help ships through the Strait,

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Speaker 3: but US Central Command says it will provide military support,

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Speaker 3: and Iranian official posted on x that any US interference

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Speaker 3: in Horror moves would violate the ceasefire.

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Speaker 2: Well, Nathan, President Trump is suggesting Around's latest proposal to

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Speaker 2: end the war, it might not be enough to satisfy him.

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Speaker 2: Oxio supports The plan would set a one month deadline

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Speaker 2: for a guilt to reopen the strait of Horror Moves

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Speaker 2: and end both the US blockade and fighting in Iran

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Speaker 2: and Lebanon. And after that another month of discussions could

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Speaker 2: begin on around's nuclear program. And again more from Bloomberg,

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Speaker 2: Defense reporter Jen Judson.

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Speaker 5: Iran wants sanctions relief and reopening shipping first, and that

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Speaker 5: does not want what the US wants. They want to

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Speaker 5: see a resolution when it comes to nuclear concessions. So

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Speaker 5: we're really in a very tough spot right now.

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Speaker 2: And Bloomberg Jen Judson appeared on Bloomberg this weekend. Treasury

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Speaker 2: Secretary Scott Besson says the US can keep waiting around out.

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Speaker 6: We're running a marathon over the past twelve months, and

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Speaker 6: now we are sprinting towards the finish line. And I

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Speaker 6: can tell you that we are suffocating the regime, and

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Speaker 6: they are not able to pay their soldiers. This is

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Speaker 6: a real economic blockade.

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Speaker 2: Treasury Secretary Scott bess And tells Fox's Sunday Morning Futures

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Speaker 2: the pressure may force around to start shutting in oil

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Speaker 2: wells in the next week as its fruit storage fills up,

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Speaker 2: and pressure may be building in the US as well.

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Speaker 2: Triple A says the nationwide average for a gallon of

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Speaker 2: gasoline is four dollars forty six cents. That's the highest

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Speaker 2: since July twenty twenty.

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Speaker 7: Two, Karen.

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

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Speaker 3: of former New York City Mayor Rudy Giuliani. He is

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Speaker 3: in critical but stable condition at a hospital. This morning,

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Speaker 3: Bloomberg's Michael Barr joins us with the latest from New York.

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Speaker 8: A spokesperson for Rudy Giuliani says the former mayor remains

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Speaker 8: in critical but stable condition in a floor a hospital. However,

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Speaker 8: spokesman Ted Goodman did not specify by Giuliani has been hospitalized.

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Speaker 8: In a social media post, President Trump called Giuliani, who

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Speaker 8: will turn eighty two later this month, a true warrior

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Speaker 8: and the best mayor in the history of New York

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Speaker 8: City by far. Giuliani became America's mayor while serving in

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Speaker 8: office in the aftermath of the September eleventh, two thousand

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Speaker 8: and one terrorist attacks. However, in recent years, Giuliani served

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Speaker 8: as Donald Trump's lawyer.

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Speaker 9: I voted for Trump, but mostly I voted for America

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Speaker 9: to save us.

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Speaker 8: He also aided in efforts to overturn the result of

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Speaker 8: the twenty twenty presidential election won by President Joe Biden.

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Speaker 8: In twenty twenty five, Giuliani agreed to pay two Georgia

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Speaker 8: election workers one hundred and forty eight million dollars in

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Speaker 8: a defamation case in New York. Michael Barr Bloomberg Radio.

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Speaker 2: Hurray Michael, thank you. Authorities have determined that book shot

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Speaker 2: from the gun of the man charged with trying to

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Speaker 2: storm the White House Correspondence Association dinner struck a Secret

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Speaker 2: Service agent. Janine Piro, the US Attorney for the District

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Speaker 2: of Columbia, is the federal prosecutor overseeing the case, and

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Speaker 2: she spoke with CNNX Jake Tapper.

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Speaker 10: We now can establish that a pellet that came from

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Speaker 10: the buckshot from the defendant's Mosburg pump action shotgun was

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Speaker 10: intertwined with the fiber of the vest of the Secret

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Speaker 10: Service office.

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Speaker 7: So it's definitively his fault.

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Speaker 10: Is definitively his bullet he hit at that Secret Service agent.

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Speaker 10: He was had every intention to kill him and anyone

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Speaker 10: who got in his way on his way to the

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Speaker 10: killing the President of the United States.

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Speaker 2: Federal prosecutor Janine Piro says a suspect called Thomas Allen

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Speaker 2: has been charged with attempted assassination of the President and

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Speaker 2: faces up to life in prison if convicted of the

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Speaker 2: assassination count alone.

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Speaker 3: Turned out to the markets, Karen Tech stocks continue to

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Speaker 3: lead equities higher. Nasdaq futures are up once again after

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Speaker 3: rising almost one percent Friday. Both the Nasdaq and S

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Speaker 3: and P five hundred closed it record highs. Liz Anne

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Speaker 3: Sanders is chief investment strategist at Charles Schwab.

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Speaker 11: SMP sitting at an all time high right now, but

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Speaker 11: only seven percent of the index members are at fifty

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Speaker 11: two week highs, and it's only fifteen percent of the

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Speaker 11: index that's even just at a four week high.

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Speaker 7: So we're again we're.

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Speaker 11: Developing a little bit of that concentration problem, and it

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Speaker 11: would be a better backdrop for the market medium to

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Speaker 11: longer term if we had some better breadth.

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Speaker 3: Not yet, Charles Schwab, Chief investment strategist Liz Anne Sanders

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Speaker 3: notes the SMP five hundred index has risen for five

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Speaker 3: straight weeks.

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Speaker 2: Well, Nathan, game Stop is proposing to buy eBay for

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Speaker 2: about fifty six billion dollars in cash and stock. We

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Speaker 2: get the story with Bloomberg's Charlie Pellett.

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Speaker 7: It's a bold attempt by Ryan Cohen to take over

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Speaker 7: a storied e commerce name several times larger. The gaming

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Speaker 7: retail chain offered one hundred and twenty five dollars a

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Speaker 7: share in cash and stock for the online retailer, or

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Speaker 7: about a twenty percent premium to its Friday close. Game

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Speaker 7: Stop is built a roughly five percent stake in eBay

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Speaker 7: and says it has secured a commitment from TD Bank

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Speaker 7: to provide about twenty billion of debt financing to help

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Speaker 7: bankroll the deal. In New York, Charlie Pellets Bloomberg.

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Speaker 2: Radio, Charlie, thank you. Shares an eBay up nine and

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Speaker 2: a half percent in early trading, and shares a game

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Speaker 2: Stop they're lower. They're down about eight tens of a percent.

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Speaker 3: Well after the collapse of Spirit Aviation holdings Karen. Transportation

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Speaker 3: Secretary Sean Duffy says he does not think the government

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Speaker 3: needs to provide financial lifelines for now to other low

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Speaker 3: cost carriers. Duffy blames the Biden administration for Spirits failure.

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Speaker 7: Spirit I tried to merge with.

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Speaker 9: Jet Blue, the Joe Biden pe put to judge administration.

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Speaker 7: And DOJ tanked that deal.

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Speaker 2: Immediately after that they filed for bankruptcy.

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Speaker 3: Transportation Secretary Sean Duffy appeared on ABC's This Week Heard

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Speaker 3: Every Sunday on Bloomberg Radio. Spirit CEO Dave Davis says

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Speaker 3: the low cost carriers succumb to crushing fuel prices.

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Speaker 2: Well, we have new developments, Nathan. On the global trade front,

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Speaker 2: China has ordered its companies to ignore US sanctions. Beijing

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Speaker 2: is now directed companies not to abide by US sanctions

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Speaker 2: on private refiners linked to the Iranian oil trade. China's

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Speaker 2: move will test the US sanctions system and comes ahead

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Speaker 2: of a plan meeting between President Trump and China's sheeshin Ping.

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Speaker 2: Time now for a look at some of the other

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

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Speaker 2: and for them, we're joined by Bloombergy's Michael Barr Michael,

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Speaker 2: good Morning.

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Speaker 8: Good morning, Karen. United Airlines flight landing at Newark on

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Speaker 8: Sunday struck a light pole on the New Jersey Turnpike.

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Speaker 8: The plane, en route from Benic, Italy, was carrying two

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Speaker 8: hundred twenty one passengers and ten crew. Official said no

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Speaker 8: one on the airplane was heard, but the light pole

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Speaker 8: struck a truck injuring the driver. Officials say he'll be okay.

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Speaker 8: After the plane landed, air traffic controllers on ATC dot

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Speaker 8: com send a ground vehicle to inspect the runway.

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Speaker 12: They felt something over the threshold and there's a hole

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Speaker 12: in the side of the airplane.

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Speaker 8: Retired Marine Corps pilot Steve Ganiard says everyone on board

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Speaker 8: the plane was fortunate.

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Speaker 6: This aircraft was literally inches from disaster.

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Speaker 8: United says its maintenance team is now evaluating the plane.

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Speaker 8: There are calls to protest the met Gala tonight in

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Speaker 8: New York City over the events ties this year to

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Speaker 8: Amazon founder Jeff Bezos. The critics call the Galatone deaf

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Speaker 8: for its lavishness during a time of economic uncertainty for many.

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Speaker 8: Global News twenty four hours a day and whenever you

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Speaker 8: want it with Bloomberg News Now. I'm Michael Barr, and

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Speaker 8: this is Bloomberg Karen. Thanks Michael.

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Speaker 2: A time now for our Bloomberg Sports update, and for

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Speaker 2: that we bring in John stashauerd and care.

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Speaker 1: Are a pair of game sevens in the NBA's Eastern

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Speaker 1: Conference and wins by the home team. Detroit came back

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Speaker 1: from three games to one and beato Orlando in game

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Speaker 1: seven one sixteen ninety four. Key Cunningham and Tobias Harris

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Speaker 1: combined for sixty two points. Cleveland Toronto won fourteen one

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Speaker 1: oh two. The home team won every game. The Pistons

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Speaker 1: will now play the Caves in Round two Game seven

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Speaker 1: the Stanley Cup Playoffs for a series where all seven

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Speaker 1: games were decided by one goal. Montreal, with only nine

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Speaker 1: shots on goals, still won at Tampa Bay two to one.

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Speaker 1: In the West, Colorado be Minnesota ninety six. That to

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Speaker 1: Bloomberg Sports Upteate.

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

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Speaker 12: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 12: and around the world on Bloomberg dot Com and the

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Speaker 12: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 3: Good morning, I'm Nathan Hager. Nearly a month into the ceasefire,

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Speaker 3: where Iran President Trump says the US will kick off

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Speaker 3: a humanitarian effort today to guide stranded ships through the

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Speaker 3: Strait of horror moves. That's, as he suggests to Ron's

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Speaker 3: latest proposal to end the war might not be enough.

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Speaker 3: Joining US from Tel Aviv this morning is Bloomberg News

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Speaker 3: Israel Bureau Chief Ethan Bronner.

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Speaker 7: Ethan, good to have you with us. What do we

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Speaker 7: know about the.

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Speaker 3: US plan to guideship through the Strait at this point?

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Speaker 7: Good morning, Good morning, Nathan.

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Speaker 9: Well, we don't know a lot. We know pretty much

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Speaker 9: what you've just said, which is that there is this plan.

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Speaker 9: He's calling it an enhanced security area. It's not at

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Speaker 9: all clear. It doesn't seem like the A ship US

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Speaker 9: ships are going to actually accompany anybody. Seems to be

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Speaker 9: a matter of coordination. It's really not very clear, but

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Speaker 9: that is what he has announced.

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Speaker 3: Okay, So what could a potential Iranian response to something

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Speaker 3: like this be When we've heard from a number of

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Speaker 3: Iranian officials over the last few weeks that interference in

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Speaker 3: the Strait could constitute a ceasefire violation.

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Speaker 9: Indeed, so in theory, we could certainly see drones being

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Speaker 9: shot at tankers by Iran. I mean, you know, it's

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Speaker 9: certainly possible. You know, They've has been a fairly muted

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Speaker 9: response so far from Iran. I mean, as you said,

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Speaker 9: they did say such a thing would be a violation.

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Speaker 9: We really I don't have any think, have any clarity

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Speaker 9: about what either side is about to do, you know.

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Speaker 9: And meanwhile, in theory there there there's a great distinction

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Speaker 9: difference of opinion about how it's going for Iran, whether

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Speaker 9: they can last for many weeks or not. You know,

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Speaker 9: the broad consensus abroad is that Iran can last a

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Speaker 9: long time. In Israel, there is a more a more

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Speaker 9: hawkish view, which is that Iran is in trouble and

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Speaker 9: if I'd say it's going to hold on for six

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Speaker 9: or ten weeks, Iran will be in deeper trouble.

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Speaker 3: Well, we've heard from a Treasury Secretary, Scott Bessant as

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Speaker 3: well that the naval blockade that's in place against Iranian

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Speaker 3: ports is strangling the Iranian economy. Are we seeing evidence

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Speaker 3: of that? And how would Iran be able to respond

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Speaker 3: militarily if it's economy is being choked off, So I.

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Speaker 9: Think it's difficult for really for me to speak with

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Speaker 9: any clarity about whether they're being choked up or not.

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Speaker 9: There is that sense that they really do need the

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Speaker 9: income that's not going to come in. But I don't

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Speaker 9: think these drones are very expensive. I do think they've

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Speaker 9: been able to continue to produce them, so it is possible.

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Speaker 9: It seems to me that they could still challenge the

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Speaker 9: great American military bi a moth with these thousand dollars drones.

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Speaker 9: I mean, I think that is what could happen.

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Speaker 7: But we really don't know.

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Speaker 9: And you know, I mean either side, it's a game

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Speaker 9: of chicken, and we don't know where it's going.

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Speaker 3: As I mentioned, President Trump has been suggesting that the

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Speaker 3: latest Iranian offer to end the war outright might not

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Speaker 3: be enough to meet his parameters. What is the sense

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Speaker 3: of what the Iranian offer is now and where does

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Speaker 3: it leave things in our last minute?

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Speaker 9: So we only have some elements in public about what

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Speaker 9: that offer is. That they're asking for a month to

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Speaker 9: sort of stop it, then a month of negotiation, and

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Speaker 9: they want there's some talk of some years of no enrichment,

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Speaker 9: uranium enrichment then to a low percentage. I mean, it

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Speaker 9: doesn't seem like it would have made the war worth

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Speaker 9: it from the American's perspective and sense that the goal

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Speaker 9: was zero and Richmond and removing those nine hundred pounds

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Speaker 9: of a highly enriched uranium. So I still see a

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Speaker 9: very very strong confrontation at least political, and I don't

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Speaker 9: know where it's going militarily.

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