1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:09,920 --> 00:00:12,280 Speaker 2: This is the Blueberg Day Bake You a podcast available 3 00:00:12,320 --> 00:00:15,400 Speaker 2: every morning on Apple, Spotify or whatever you listen. It's Wednesday, 4 00:00:15,440 --> 00:00:16,960 Speaker 2: the twenty first of May in London. 5 00:00:17,200 --> 00:00:18,560 Speaker 3: I'm Caroline Hepke and. 6 00:00:18,520 --> 00:00:20,360 Speaker 4: I'm Stephen Carroll. Coming up today. 7 00:00:20,560 --> 00:00:23,560 Speaker 5: Oil prices jump on a report that Israel may be 8 00:00:23,640 --> 00:00:26,360 Speaker 5: getting ready to strike Around's nuclear facilities. 9 00:00:26,720 --> 00:00:31,160 Speaker 2: G seven countries discuss tariffs on low value Chinese. 10 00:00:30,760 --> 00:00:34,839 Speaker 5: Packages, plus Mosco on the charge. The Tessa CEO and 11 00:00:34,920 --> 00:00:38,280 Speaker 5: the World's Richest Man talks to Bloomberg's Michelle Hussain about 12 00:00:38,320 --> 00:00:42,199 Speaker 5: brand damage, DOGE and a pullback in political spending. 13 00:00:42,520 --> 00:00:44,680 Speaker 3: Let's start with a roundup of our top stories. 14 00:00:45,240 --> 00:00:47,320 Speaker 5: The price of oil has jumped on a report that 15 00:00:47,520 --> 00:00:51,400 Speaker 5: US intelligence believes Israel is preparing for a potential strike 16 00:00:51,520 --> 00:00:55,640 Speaker 5: on Iran's nuclear facilities. According to CNN, which cited unnamed 17 00:00:55,640 --> 00:00:59,560 Speaker 5: American officials, it isn't yet clear that Israeli leaders have 18 00:00:59,600 --> 00:01:03,120 Speaker 5: made a final decision on whether to carry out the strikes. 19 00:01:03,280 --> 00:01:06,399 Speaker 5: Stuart Livingston Wallace leads Bloomberg's Middle East coverage. 20 00:01:06,440 --> 00:01:07,920 Speaker 6: I think a few things to be said about at 21 00:01:07,959 --> 00:01:10,440 Speaker 6: number one. We've had similar reports in Ausome. We had 22 00:01:10,480 --> 00:01:13,039 Speaker 6: similar reports in February and now we have similar reports again. 23 00:01:13,440 --> 00:01:16,760 Speaker 6: It is absolutely true that Israel has been preparing to 24 00:01:16,760 --> 00:01:19,520 Speaker 6: take out the nuclear facilities for many, many years. It's 25 00:01:19,560 --> 00:01:22,160 Speaker 6: been a big concern, and the Israeli Prime Minister has 26 00:01:22,400 --> 00:01:25,240 Speaker 6: appeared repeatedly in public saying this is the major threat 27 00:01:25,240 --> 00:01:27,720 Speaker 6: to the region. So there's no surprise there. What appears 28 00:01:27,760 --> 00:01:30,600 Speaker 6: to be different this time, potentially is that it may 29 00:01:30,680 --> 00:01:32,240 Speaker 6: or may not be coming fairly soon. 30 00:01:32,680 --> 00:01:35,440 Speaker 5: Stuart Livingston Walla speaking there is the potential for an 31 00:01:35,480 --> 00:01:38,800 Speaker 5: attack has raised concerns about the fate of Iran US 32 00:01:38,959 --> 00:01:42,440 Speaker 5: nuclear talks and the impact on the global oil market. 33 00:01:42,720 --> 00:01:45,760 Speaker 5: Brand crude rose above sixty six dollars a barrel, while 34 00:01:45,760 --> 00:01:48,400 Speaker 5: West Texas intermediates served by as much as three point 35 00:01:48,440 --> 00:01:50,520 Speaker 5: five percent before pairing gains. 36 00:01:50,720 --> 00:01:54,160 Speaker 2: The reports of a possible strike come after Iran's Supreme 37 00:01:54,280 --> 00:01:57,760 Speaker 2: leader said that negotiations with the US over his country's 38 00:01:57,880 --> 00:02:02,480 Speaker 2: nuclear program are unlikely to result in a deal. Speaking yesterday, 39 00:02:02,560 --> 00:02:08,120 Speaker 2: Ayatolla Hamone called the Trump administration's latest demands on Iran outrageous. 40 00:02:08,360 --> 00:02:12,120 Speaker 2: Harmone's comments were a direct repudiation of the US leaders 41 00:02:12,120 --> 00:02:15,280 Speaker 2: claim last week that Iran and the US were getting 42 00:02:15,360 --> 00:02:18,920 Speaker 2: close to maybe doing a deal. The former head of 43 00:02:18,960 --> 00:02:22,960 Speaker 2: the CIA, retired General David Petraeus, says that he's hopeful 44 00:02:23,080 --> 00:02:23,960 Speaker 2: for an agreement. 45 00:02:24,600 --> 00:02:27,720 Speaker 7: There's a chance that there could be a nuclear deal 46 00:02:27,960 --> 00:02:30,480 Speaker 7: that doesn't have some of the shortcomings of the previous 47 00:02:30,560 --> 00:02:35,400 Speaker 7: nuclear deal, that could enable the lifting of sanctions progressively 48 00:02:35,480 --> 00:02:39,520 Speaker 7: and so forth as confidences built, and that could lead 49 00:02:39,880 --> 00:02:43,440 Speaker 7: to them being a more constructive player in the region 50 00:02:43,639 --> 00:02:45,639 Speaker 7: than they certainly have been for many decades. 51 00:02:46,080 --> 00:02:48,680 Speaker 2: The view there of General David Petraeus. He is now 52 00:02:48,680 --> 00:02:51,920 Speaker 2: the chairman of the KKR Global Institute, and he was 53 00:02:51,919 --> 00:02:55,160 Speaker 2: speaking that our editor in chief, John Micklethwaite at the 54 00:02:55,240 --> 00:02:57,200 Speaker 2: cut Our Economic Forum in Doha. 55 00:02:57,600 --> 00:03:00,840 Speaker 5: EU ANDERPRESIS officials are stepping up pressure on Israel over 56 00:03:00,880 --> 00:03:04,440 Speaker 5: its latest defensive in Gaza. Their calls come amidst growing 57 00:03:04,480 --> 00:03:08,640 Speaker 5: political outcry over the humanitarian crisis caused by the conflict. 58 00:03:09,040 --> 00:03:12,280 Speaker 5: The European Union's top diplomat, Kayak Kalas, says a huge 59 00:03:12,320 --> 00:03:16,080 Speaker 5: majority of member states support a review of potential human 60 00:03:16,160 --> 00:03:21,279 Speaker 5: rights violations by Israel, while Spain's foreign minister recommended possible sanctions. 61 00:03:21,760 --> 00:03:24,600 Speaker 5: The UK says it plans to pause free trade talks 62 00:03:24,840 --> 00:03:28,720 Speaker 5: and announced penalties against individuals and entities it says are 63 00:03:28,760 --> 00:03:30,320 Speaker 5: linked with violence in the West. 64 00:03:30,320 --> 00:03:30,560 Speaker 4: Bank. 65 00:03:30,800 --> 00:03:34,640 Speaker 5: Foreign Secretary David Lammy heavily criticized Israel's recent conduct. 66 00:03:35,080 --> 00:03:37,360 Speaker 4: We must call this what it is. 67 00:03:38,520 --> 00:03:43,080 Speaker 8: It is extremisty, it is dangerous, it is respellent, it 68 00:03:43,200 --> 00:03:47,440 Speaker 8: is monstrous, and I condemn it in the strongest possible terms. 69 00:03:48,920 --> 00:03:50,400 Speaker 4: UK Foreign Secretary David Lammi. 70 00:03:50,480 --> 00:03:53,920 Speaker 5: There Israel has said would start allowing aid into Gaza 71 00:03:54,000 --> 00:03:57,920 Speaker 5: again after blocking it since early March, but European officials 72 00:03:57,920 --> 00:04:01,400 Speaker 5: have expressed frustration about the pace of food deliveries. In 73 00:04:01,440 --> 00:04:05,280 Speaker 5: a statement, the Israeli Foreign Ministry said external pressures wouldn't 74 00:04:05,280 --> 00:04:09,080 Speaker 5: affect its struggle against who it describes as enemies working 75 00:04:09,120 --> 00:04:10,960 Speaker 5: to destroy the country now. 76 00:04:11,000 --> 00:04:15,080 Speaker 2: Canada's finance minister says that G seven countries are discussing 77 00:04:15,280 --> 00:04:19,960 Speaker 2: tariffs on over supplied Chinese products. Leading democracies have accused 78 00:04:20,040 --> 00:04:24,599 Speaker 2: Chinese online retail platforms like Timu and Shean of flooding 79 00:04:24,680 --> 00:04:29,400 Speaker 2: their markets with low value goods. For Canada's Francois Philippe Chopin, 80 00:04:29,720 --> 00:04:33,200 Speaker 2: it's something that the G seven can take coordinated action. 81 00:04:33,080 --> 00:04:37,800 Speaker 9: Against certainly the low value shipments have created a number 82 00:04:37,880 --> 00:04:40,440 Speaker 9: of things that we want to discuss amongst ourselves and 83 00:04:40,520 --> 00:04:43,920 Speaker 9: see how we can progress that discussions, because it's not 84 00:04:43,960 --> 00:04:47,279 Speaker 9: only about the revenues, but it's really about, you know, 85 00:04:47,360 --> 00:04:52,760 Speaker 9: the customs and making sure that we protect our respective jurisdiction. 86 00:04:53,600 --> 00:04:57,200 Speaker 2: Canada's Finance Minister Francois Philippe Charpain is speaking there at 87 00:04:57,240 --> 00:05:00,840 Speaker 2: the G seven Finance Minister's meeting in Alberta. The US 88 00:05:00,920 --> 00:05:04,440 Speaker 2: has already started to tack small packages, raising fears that 89 00:05:04,560 --> 00:05:08,080 Speaker 2: China's producers will switch to other markets in search of profits. 90 00:05:08,560 --> 00:05:11,320 Speaker 5: From small packages to big trade deals. The UK's Chancellor 91 00:05:11,320 --> 00:05:14,120 Speaker 5: of Rachel Reeves and US Treasury Secretary Scott bess And 92 00:05:14,200 --> 00:05:17,040 Speaker 5: are hoping to flesh out their trade agreement in talks 93 00:05:17,320 --> 00:05:20,200 Speaker 5: at the G seven summit in Canada. The agreement to 94 00:05:20,279 --> 00:05:23,719 Speaker 5: lower tariffs on limited sectors like steel was a landmark 95 00:05:23,800 --> 00:05:24,640 Speaker 5: first for Britain. 96 00:05:24,680 --> 00:05:26,560 Speaker 4: Bloomberg James Wilcock has more. 97 00:05:26,440 --> 00:05:29,200 Speaker 8: It was hail as a full and comprehensive trade deal 98 00:05:29,320 --> 00:05:32,320 Speaker 8: by US President Donald Trump, but the UK and the 99 00:05:32,400 --> 00:05:35,279 Speaker 8: US still haven't set a date for when tariff productions 100 00:05:35,279 --> 00:05:38,159 Speaker 8: will come into effects. The two sides are also working 101 00:05:38,200 --> 00:05:41,320 Speaker 8: through sticky differences on how to regulate big tech and 102 00:05:41,400 --> 00:05:45,440 Speaker 8: potential taxes on the pharmaceutical industry. Both sides enjoyed the 103 00:05:45,440 --> 00:05:48,760 Speaker 8: showmanship of announcing a first post Liberation Day trade deal, 104 00:05:49,080 --> 00:05:51,520 Speaker 8: but now the question is when does the detail arrive 105 00:05:51,880 --> 00:05:54,240 Speaker 8: in London James Wilcock Bloomberg. 106 00:05:53,920 --> 00:05:58,279 Speaker 2: Radio Now to a major interview at Bloomberg, Tesla CEO 107 00:05:58,360 --> 00:06:01,279 Speaker 2: Elon Musk has said that he is committed to staying 108 00:06:01,360 --> 00:06:03,920 Speaker 2: on as leader of the company for the next five years, 109 00:06:03,960 --> 00:06:07,560 Speaker 2: and he downplayed the carmaker's challenges. The world's richest man 110 00:06:07,600 --> 00:06:11,800 Speaker 2: has come under scrutiny since Tesla followed up its first 111 00:06:11,920 --> 00:06:15,960 Speaker 2: annual sales job with even steeper declines early this year. 112 00:06:16,240 --> 00:06:19,640 Speaker 2: Speaking to Bloomberg's Michelle Hasseain at the Cutout Economic Forum, 113 00:06:20,000 --> 00:06:23,400 Speaker 2: Elon Musk also said that he is pairing back his 114 00:06:23,560 --> 00:06:24,760 Speaker 2: political involvement. 115 00:06:25,200 --> 00:06:25,800 Speaker 10: I think. 116 00:06:27,640 --> 00:06:30,320 Speaker 11: In terms of political spending, I'm going. 117 00:06:30,200 --> 00:06:31,520 Speaker 10: To do a lot less in the future. 118 00:06:32,000 --> 00:06:32,680 Speaker 3: And why is that? 119 00:06:33,839 --> 00:06:34,760 Speaker 10: I think I've done enough? 120 00:06:36,320 --> 00:06:40,000 Speaker 2: That was Elon Musk, Tesla's CEO, speaking to Michelle Hussein. 121 00:06:40,040 --> 00:06:44,159 Speaker 2: Tesla's chez jumped on Mosk's comments as investors appeared to 122 00:06:44,200 --> 00:06:47,440 Speaker 2: take heart from the apparent political step back. 123 00:06:48,080 --> 00:06:50,960 Speaker 5: Tropical forests are under threat in the face of soaring 124 00:06:51,040 --> 00:06:54,800 Speaker 5: temperatures and wildfires. That's his Global woodland last hit a 125 00:06:54,920 --> 00:06:58,400 Speaker 5: record high last year. Boom Brooks ta Adebayo has the story. 126 00:06:59,120 --> 00:07:02,920 Speaker 12: Six point seven million hectares of tropical primary forest was 127 00:07:03,000 --> 00:07:05,880 Speaker 12: lost last year, the most on record and double what 128 00:07:06,000 --> 00:07:08,120 Speaker 12: was lost in twenty twenty three. 129 00:07:08,160 --> 00:07:09,920 Speaker 3: That's according to new figures. 130 00:07:09,560 --> 00:07:13,280 Speaker 12: From Global forest Watch, who say current levels are unprecedented. 131 00:07:13,920 --> 00:07:17,520 Speaker 12: The phenomenon comes after the earth hottest year on record, 132 00:07:17,840 --> 00:07:21,920 Speaker 12: as global fires scorched woodland, releasing more than four times 133 00:07:21,920 --> 00:07:24,800 Speaker 12: the admissions of all air travel in twenty twenty three. 134 00:07:25,040 --> 00:07:28,400 Speaker 12: Cutting deforestation and raising funds to do so are among 135 00:07:28,480 --> 00:07:32,000 Speaker 12: the top priorities for this year's COP thirty gathering, which 136 00:07:32,080 --> 00:07:34,360 Speaker 12: is scheduled for November in London. 137 00:07:34,520 --> 00:07:36,400 Speaker 4: You were at a Bayo Bloomberg Radio. 138 00:07:36,280 --> 00:07:38,560 Speaker 2: And those are our top stories for you this morning. Right, 139 00:07:38,640 --> 00:07:41,000 Speaker 2: Let's get into the market. So we mentioned that oil 140 00:07:41,000 --> 00:07:44,880 Speaker 2: has been spiking on the worries around Israel and Iran 141 00:07:45,160 --> 00:07:47,640 Speaker 2: brink crewd futures and how by one point six percent 142 00:07:47,680 --> 00:07:50,280 Speaker 2: this morning, trading at sixty six dollars forty three. It 143 00:07:50,400 --> 00:07:53,240 Speaker 2: also means that there's a lot of caution in markets. 144 00:07:53,360 --> 00:07:55,640 Speaker 2: So the Bloomberg Dollar Spot Index has fallen over one 145 00:07:55,680 --> 00:07:58,440 Speaker 2: point two percent of this week. The dollar does continue 146 00:07:58,440 --> 00:08:02,680 Speaker 2: to weaken today, Swiss and Japanese yen are stronger. Gold 147 00:08:02,720 --> 00:08:05,920 Speaker 2: has risen now to three thousand children nineteen I. So 148 00:08:06,120 --> 00:08:11,000 Speaker 2: around that thirty three one hundred dollar mark, you've also 149 00:08:11,440 --> 00:08:15,400 Speaker 2: got the SMP, which yesterday fell by zero point four percent. 150 00:08:15,520 --> 00:08:18,040 Speaker 2: Looking at the futures, then for the European and US 151 00:08:18,120 --> 00:08:20,880 Speaker 2: markets open will Europe is up just a fraction s 152 00:08:20,920 --> 00:08:23,040 Speaker 2: and p FOI one hundred evenly features down three tenths 153 00:08:23,040 --> 00:08:25,640 Speaker 2: of one percent. Let's see what happens though in the 154 00:08:25,640 --> 00:08:29,880 Speaker 2: European session. Actually, Germany's benchmark, the Zetra DAX, managed to 155 00:08:29,920 --> 00:08:32,439 Speaker 2: reach the twenty four thousand level for the first time 156 00:08:32,600 --> 00:08:37,280 Speaker 2: ever yesterday, so maybe that European out performance continues to 157 00:08:37,320 --> 00:08:38,360 Speaker 2: play into markets. 158 00:08:38,520 --> 00:08:40,319 Speaker 5: I want to watch today and a moment will bring 159 00:08:40,360 --> 00:08:42,839 Speaker 5: you more on that report about a potential attack on Iran, 160 00:08:42,920 --> 00:08:46,840 Speaker 5: plus Bloomberg's interview with Elon Musk at the Katar Economic Forum. 161 00:08:46,880 --> 00:08:49,160 Speaker 5: But first a word on another story that CARRAI this 162 00:08:49,240 --> 00:08:52,840 Speaker 5: morning about what CEOs are listening to on their way 163 00:08:52,880 --> 00:08:55,560 Speaker 5: to work. It's not just us, oh Stevens, I know, 164 00:08:56,240 --> 00:08:58,920 Speaker 5: although obviously and this is actually a recurring team through 165 00:08:58,960 --> 00:09:01,080 Speaker 5: this conversation, it's part of this CEO Diet series on 166 00:09:01,080 --> 00:09:04,120 Speaker 5: Blomberg Business Week that it's a lot of podcast listening. 167 00:09:04,360 --> 00:09:06,760 Speaker 5: It's a fair amount of live radio listening, which I 168 00:09:06,760 --> 00:09:09,280 Speaker 5: found interesting as well. But also, and this is the 169 00:09:09,280 --> 00:09:11,880 Speaker 5: part that I found most interesting, the music, what music 170 00:09:11,880 --> 00:09:15,040 Speaker 5: people are listening to, and how people use music essentially 171 00:09:15,080 --> 00:09:17,760 Speaker 5: to set their mood for the day. So the CEO 172 00:09:17,800 --> 00:09:20,120 Speaker 5: of the Beverly Hills Conference of Visitors Bureau, Julie Wagner, 173 00:09:20,160 --> 00:09:22,320 Speaker 5: says that she uses upbeat music to set a tone 174 00:09:22,320 --> 00:09:24,680 Speaker 5: for a happy morning. So she mentions Morgan Wallen and 175 00:09:24,720 --> 00:09:28,280 Speaker 5: Chapel Roane Good choices, Will Beckett from the Hawksmore Restaurants. 176 00:09:28,559 --> 00:09:30,000 Speaker 4: He's on a reggae kick at the moment. 177 00:09:30,000 --> 00:09:33,720 Speaker 5: He's just moved on from punk rock, changing genres, you know, 178 00:09:33,800 --> 00:09:37,000 Speaker 5: shaking things up as well. And actually Marcurias some General Motors, 179 00:09:37,160 --> 00:09:39,880 Speaker 5: tests out new models of cars on his commute, so 180 00:09:39,920 --> 00:09:43,000 Speaker 5: he actually tries to listen to something like live radio 181 00:09:43,040 --> 00:09:44,720 Speaker 5: in the background while he's also trying to get a 182 00:09:44,720 --> 00:09:46,520 Speaker 5: feel for the car that he's testing out at the 183 00:09:46,559 --> 00:09:46,960 Speaker 5: same time. 184 00:09:47,080 --> 00:09:49,240 Speaker 2: Yeah. Absolutely, he listens to news, so you know, I 185 00:09:49,240 --> 00:09:53,079 Speaker 2: think he's my favorite person in this But yeah, it's 186 00:09:53,080 --> 00:09:56,000 Speaker 2: a really lovely piece all about the CEO diet. I mean, 187 00:09:56,040 --> 00:09:58,720 Speaker 2: they've done series on all sorts of things, what people eat, 188 00:09:58,800 --> 00:10:00,920 Speaker 2: the fashion that they wear. Anyway, it gets you into 189 00:10:00,960 --> 00:10:03,800 Speaker 2: the mindset of being a boss. First thing in the morning, 190 00:10:03,800 --> 00:10:06,560 Speaker 2: We'll put a link to that story into our show notes. 191 00:10:06,920 --> 00:10:09,679 Speaker 5: Let's bring you more now. In our top story this morning, Israel, 192 00:10:09,920 --> 00:10:13,160 Speaker 5: according to one report, potentially planning an attack on Around's 193 00:10:13,240 --> 00:10:16,200 Speaker 5: nuclear facilities, a story that's pushing oil prices higher this morning. 194 00:10:16,240 --> 00:10:19,400 Speaker 5: Bloomberg'swanakraasio leads our midlea stpreaking news team joins us now 195 00:10:19,440 --> 00:10:21,520 Speaker 5: for more down a good morning. What more can you 196 00:10:21,520 --> 00:10:23,679 Speaker 5: tell us then about this report and the effect that 197 00:10:23,679 --> 00:10:24,680 Speaker 5: it's having on markets? 198 00:10:25,000 --> 00:10:27,720 Speaker 13: So we saw the report is citing multiple US officials 199 00:10:27,720 --> 00:10:31,080 Speaker 13: on the latest intelligence and that they say it's not 200 00:10:31,200 --> 00:10:33,520 Speaker 13: clear that Israel had made a final decision on that, 201 00:10:33,640 --> 00:10:38,000 Speaker 13: and there was quote deep disagreements within the administration about 202 00:10:38,040 --> 00:10:41,000 Speaker 13: whether or the likelihood that Israel will ultimately go ahead 203 00:10:41,000 --> 00:10:44,360 Speaker 13: and attack a r clear facility in Iran, and that 204 00:10:44,520 --> 00:10:47,760 Speaker 13: of course, we saw oil prices going up currency haven's 205 00:10:47,800 --> 00:10:51,079 Speaker 13: as well, and this is of course very serious, very significant. 206 00:10:51,360 --> 00:10:53,960 Speaker 13: This option has always been on the table for both 207 00:10:54,040 --> 00:10:56,880 Speaker 13: Israel and the US right so President's Trump last week 208 00:10:56,920 --> 00:10:59,560 Speaker 13: in Saudi Arabia said he doesn't want the military option, 209 00:11:00,040 --> 00:11:02,240 Speaker 13: but also said that a lot of people want him 210 00:11:02,280 --> 00:11:04,280 Speaker 13: to go in that direction, and while of course he 211 00:11:04,320 --> 00:11:07,200 Speaker 13: didn't name them, it's obvious that Israel would want him 212 00:11:07,240 --> 00:11:10,000 Speaker 13: to go in that direction. Israel thinks that Iran's nuclear 213 00:11:10,080 --> 00:11:13,360 Speaker 13: program and it's entirety threatened its existence. And also, of 214 00:11:13,400 --> 00:11:15,720 Speaker 13: course we remember Ise wasn't very happy that the US 215 00:11:15,800 --> 00:11:18,560 Speaker 13: chose negotiations with Iran, wasn't happy that the US is 216 00:11:18,600 --> 00:11:22,800 Speaker 13: actually directly talking to Hannas. So we know Israel would 217 00:11:22,840 --> 00:11:26,040 Speaker 13: do it, but many have said that if Israel would 218 00:11:26,040 --> 00:11:28,280 Speaker 13: go ahead with that, it won't do it without US approval, 219 00:11:28,600 --> 00:11:30,400 Speaker 13: And that's of course the big question here. 220 00:11:30,600 --> 00:11:32,400 Speaker 10: Would the US give the go ahead for that? 221 00:11:32,840 --> 00:11:35,800 Speaker 2: Yeah, absolutely is there would there be a split between 222 00:11:35,840 --> 00:11:37,160 Speaker 2: as well and the US. 223 00:11:37,559 --> 00:11:38,439 Speaker 3: Very significant. 224 00:11:38,440 --> 00:11:41,680 Speaker 2: But look, in recent days we've actually seen all prices 225 00:11:41,840 --> 00:11:45,280 Speaker 2: drop because of the comments from President Trump about talking 226 00:11:45,320 --> 00:11:47,720 Speaker 2: to Iran. About a deal, and then the comments that 227 00:11:47,760 --> 00:11:50,480 Speaker 2: we had from Iran Supreme Leader saying that actually the 228 00:11:50,559 --> 00:11:54,760 Speaker 2: negotiations are not likely to succeed. So what's the latest 229 00:11:54,800 --> 00:11:57,480 Speaker 2: actually on those talks between the US and Iran? 230 00:11:57,800 --> 00:12:00,000 Speaker 13: And I would add to that that the fifth round 231 00:12:00,200 --> 00:12:02,079 Speaker 13: of talks between the US and Iran has not been 232 00:12:02,120 --> 00:12:05,920 Speaker 13: scheduled yet. And then we saw around remarks yesterday saying 233 00:12:05,960 --> 00:12:09,200 Speaker 13: that they haven't chosen a date, So that's still up 234 00:12:09,240 --> 00:12:12,000 Speaker 13: in the air. And to be frank, you know, President 235 00:12:12,040 --> 00:12:14,080 Speaker 13: Trump's comments last week that they were close to a 236 00:12:14,080 --> 00:12:16,800 Speaker 13: deal was not very much supported by Iran or any 237 00:12:16,840 --> 00:12:19,800 Speaker 13: evidence out there. The talks are still at a technical level, 238 00:12:19,800 --> 00:12:23,800 Speaker 13: and Iran insists and says that it was non negotiable 239 00:12:24,400 --> 00:12:26,520 Speaker 13: for it to have the right to maintain its peaceful 240 00:12:26,600 --> 00:12:29,360 Speaker 13: nuclear program. And that's the sticking point, right and the 241 00:12:29,679 --> 00:12:33,520 Speaker 13: big questions in these negotiations how much can they allow 242 00:12:33,679 --> 00:12:38,360 Speaker 13: Iran to riche uranium? What's that level that they're negotiating at. 243 00:12:38,440 --> 00:12:41,559 Speaker 13: And we've heard many critics also saying that the US 244 00:12:41,600 --> 00:12:43,720 Speaker 13: should have a better deal than the ones struck with 245 00:12:43,720 --> 00:12:46,479 Speaker 13: the Obama administration, the so called JCPOA. 246 00:12:47,200 --> 00:12:48,719 Speaker 3: So that's still. 247 00:12:48,440 --> 00:12:50,880 Speaker 13: Up in the air and we don't think that there 248 00:12:50,920 --> 00:12:54,960 Speaker 13: is any significant progress to say that they are close 249 00:12:55,000 --> 00:12:55,480 Speaker 13: to a deal. 250 00:12:55,480 --> 00:13:00,240 Speaker 5: Here, Donald, what does a report like this about, you know, 251 00:13:00,240 --> 00:13:03,400 Speaker 5: something that Israel is considering mean for Israel to emerge 252 00:13:03,440 --> 00:13:06,280 Speaker 5: at this time when it's already facing so much international 253 00:13:06,280 --> 00:13:08,440 Speaker 5: pressure over its actions in Gaza. 254 00:13:08,559 --> 00:13:11,800 Speaker 13: Huge pressure, I would say, and it's only gonna mount 255 00:13:11,920 --> 00:13:14,360 Speaker 13: on Israel. And we saw what France has been saying, 256 00:13:14,360 --> 00:13:18,440 Speaker 13: with the UK actually said it took measures because it 257 00:13:18,559 --> 00:13:20,120 Speaker 13: was criticizing. 258 00:13:19,480 --> 00:13:20,640 Speaker 10: The latest offensive. 259 00:13:20,960 --> 00:13:24,720 Speaker 13: Even Kata, the main mediator, was also criticizing the offensive 260 00:13:24,760 --> 00:13:28,120 Speaker 13: and an Israel's plan to take over Gaza. Two things here. 261 00:13:28,160 --> 00:13:30,520 Speaker 13: I would say, it has come under pressure in the 262 00:13:30,559 --> 00:13:35,080 Speaker 13: past from the international community, but it remained on its 263 00:13:35,080 --> 00:13:38,559 Speaker 13: plans against Hamas, And that's of course the risky bit 264 00:13:38,679 --> 00:13:41,120 Speaker 13: here that it has come under pressure before and has 265 00:13:41,120 --> 00:13:43,880 Speaker 13: defended itselves and says no, we will stick to the plan, 266 00:13:44,080 --> 00:13:46,560 Speaker 13: and they've been sticking to the plan in the past 267 00:13:47,120 --> 00:13:50,040 Speaker 13: year and a half. But I would also say about 268 00:13:50,080 --> 00:13:53,160 Speaker 13: the strike is that it's not the fear here or 269 00:13:53,200 --> 00:13:57,160 Speaker 13: the big concern is not just Iron's retaliation. This is 270 00:13:57,240 --> 00:14:01,680 Speaker 13: an attack on a nuclear site. This is environmentally very dangerous. 271 00:14:01,720 --> 00:14:04,520 Speaker 13: It's a hazard, and it's a disaster, especially for countries 272 00:14:04,559 --> 00:14:08,160 Speaker 13: and close proximity and for US allies that is Patza 273 00:14:08,240 --> 00:14:11,080 Speaker 13: and that is the UAE, especially Dubai. So this is 274 00:14:11,120 --> 00:14:13,319 Speaker 13: where the extreme risk and danger here, and that's what 275 00:14:13,520 --> 00:14:16,480 Speaker 13: we have talked about. You know, would the US actually 276 00:14:16,520 --> 00:14:18,920 Speaker 13: approve that or give the go ahead? So this is 277 00:14:19,040 --> 00:14:22,560 Speaker 13: very risky for the US's allies in the region. 278 00:14:23,560 --> 00:14:26,240 Speaker 2: Absolutely, Dona, thank you so much for being with us 279 00:14:26,320 --> 00:14:29,080 Speaker 2: this morning. Bluebag's DNA craz who leads our Middle East 280 00:14:29,080 --> 00:14:32,440 Speaker 2: breaking news team joining us this morning. I'll just add 281 00:14:32,440 --> 00:14:35,560 Speaker 2: one note of course that in amidst this, Israel's air 282 00:14:35,600 --> 00:14:41,000 Speaker 2: defense system is hugely well known for having protected the 283 00:14:41,080 --> 00:14:44,960 Speaker 2: country against attack. It's something actually that the US is 284 00:14:45,000 --> 00:14:49,080 Speaker 2: looking at, perhaps not copying, but certainly taking an example 285 00:14:49,120 --> 00:14:52,760 Speaker 2: from as President Donald Trump thinks about this idea, his 286 00:14:52,960 --> 00:14:57,280 Speaker 2: vision of a golden dome system that we perhaps protect 287 00:14:57,320 --> 00:14:59,840 Speaker 2: the United States. So when we're thinking about military and 288 00:14:59,840 --> 00:15:03,840 Speaker 2: de fence capabilities of build out, this is something that's 289 00:15:03,880 --> 00:15:04,920 Speaker 2: on the agenda globally. 290 00:15:05,080 --> 00:15:05,920 Speaker 4: Yeah, it certainly is. 291 00:15:06,240 --> 00:15:08,720 Speaker 5: Let's turn you now to one of our key interviews, 292 00:15:08,720 --> 00:15:11,480 Speaker 5: Elon Musk speaking to Bloomberg's Michelle has saying at the 293 00:15:11,520 --> 00:15:15,520 Speaker 5: Katar Economic Forum, they discussed his political and business roles 294 00:15:15,560 --> 00:15:18,320 Speaker 5: and questions of conflicts of interest between them. In a moment, 295 00:15:18,320 --> 00:15:20,520 Speaker 5: we'll speak to Michelle for her impressions of the conversation, 296 00:15:20,600 --> 00:15:23,000 Speaker 5: but first let's listen to some of the edited highlights 297 00:15:23,320 --> 00:15:26,800 Speaker 5: of that exchange, focusing on Tesla and the carmakers first 298 00:15:26,880 --> 00:15:28,960 Speaker 5: drop an annual sales in over a decade. 299 00:15:29,160 --> 00:15:31,640 Speaker 10: Europe is our weakest market. We're stronger everywhere else. 300 00:15:31,920 --> 00:15:35,840 Speaker 11: So now our sales are doing well at this point, 301 00:15:35,960 --> 00:15:40,320 Speaker 11: anticipate any any meaningful sales shortfall, and obviously the stock 302 00:15:40,360 --> 00:15:43,160 Speaker 11: market recognizes that, since we're now back over a trillion 303 00:15:43,160 --> 00:15:46,520 Speaker 11: dollars in marketcap, so I believe the market is aware. 304 00:15:46,200 --> 00:15:48,400 Speaker 10: Of the situation. So it's already turned around. 305 00:15:48,560 --> 00:15:51,080 Speaker 1: It's sales still down compared to this time last year 306 00:15:51,240 --> 00:15:52,000 Speaker 1: in Europe. 307 00:15:52,200 --> 00:15:53,800 Speaker 3: In Europe, okay, and. 308 00:15:54,880 --> 00:15:58,720 Speaker 10: That's true of all manufacturers. No accessions. 309 00:15:58,760 --> 00:16:01,600 Speaker 1: Okay, but you would acknowledg, wouldn't you that what you 310 00:16:01,640 --> 00:16:03,480 Speaker 1: are facing? Okay, let's just take it as your what 311 00:16:03,560 --> 00:16:06,000 Speaker 1: you are facing is a significant problem. This Tesla is 312 00:16:06,000 --> 00:16:10,200 Speaker 1: an incredibly aspirational brand. People identified with it it saw it, 313 00:16:10,800 --> 00:16:12,400 Speaker 1: They saw it it being at the forefront of the 314 00:16:12,440 --> 00:16:15,560 Speaker 1: climate crisis. And now people are driving around with stickers 315 00:16:15,600 --> 00:16:17,720 Speaker 1: in their car saying I bought this before we knew 316 00:16:17,760 --> 00:16:18,760 Speaker 1: Elon was crazy. 317 00:16:19,160 --> 00:16:21,480 Speaker 11: And there are also people who are by buying it 318 00:16:21,520 --> 00:16:26,920 Speaker 11: because Elon's crazy, or however they may view it. So, yes, 319 00:16:26,960 --> 00:16:28,960 Speaker 11: we've lost some sales perths on the left, but we've 320 00:16:28,960 --> 00:16:32,120 Speaker 11: gained them on the right. The sales numbers just weren't 321 00:16:32,520 --> 00:16:35,920 Speaker 11: are strong, and we've seen no problem with them mad. 322 00:16:36,560 --> 00:16:38,320 Speaker 4: So what I mean? 323 00:16:38,760 --> 00:16:41,800 Speaker 10: You can just look at the stock price. If you 324 00:16:41,800 --> 00:16:42,760 Speaker 10: were the best inside. 325 00:16:42,480 --> 00:16:48,000 Speaker 11: Information, the stock market analysts have that and our stock 326 00:16:48,000 --> 00:16:52,280 Speaker 11: wouldn't be trading near all time highst if it was not. 327 00:16:53,040 --> 00:16:55,320 Speaker 11: If things weren't in good jape, They're fine, don't worry 328 00:16:55,320 --> 00:16:55,680 Speaker 11: about it. 329 00:16:55,760 --> 00:16:58,840 Speaker 1: Okay, I was citing sales figures rather than share price. 330 00:16:58,880 --> 00:17:02,480 Speaker 1: Well tell me then, how committed you are to Tesla. 331 00:17:02,560 --> 00:17:05,160 Speaker 1: Do you see yourself and are you committed to still 332 00:17:05,200 --> 00:17:09,359 Speaker 1: being the chief executive of Tesla in five years time? Yes, 333 00:17:10,359 --> 00:17:11,600 Speaker 1: no doubt about that at all. 334 00:17:12,400 --> 00:17:14,399 Speaker 10: Well, no, I might die. 335 00:17:15,960 --> 00:17:20,080 Speaker 1: Does that mean that the value of your pay doesn't 336 00:17:20,119 --> 00:17:22,200 Speaker 1: have any bearing on your decision? 337 00:17:22,480 --> 00:17:27,800 Speaker 11: Well, that's not really, sorry discussion in this forum. I 338 00:17:27,800 --> 00:17:31,880 Speaker 11: think obviously there should be a conversation for if there's 339 00:17:32,040 --> 00:17:36,480 Speaker 11: something incredible is done, that compensation should match that something 340 00:17:36,520 --> 00:17:41,679 Speaker 11: incredible was done. But I'm confident that whatever the whatever 341 00:17:41,720 --> 00:17:45,520 Speaker 11: some activists posing as a judge in Delaware happens to 342 00:17:45,560 --> 00:17:47,120 Speaker 11: do will not affect the future compensation. 343 00:17:47,640 --> 00:17:51,199 Speaker 1: This is the judge you twice struck down the fifty 344 00:17:51,240 --> 00:17:54,880 Speaker 1: six billion dollar pay package that was that was awarded 345 00:17:54,920 --> 00:17:56,919 Speaker 1: to you. I think the value on the basis on 346 00:17:56,960 --> 00:17:58,880 Speaker 1: the current value of stock options. 347 00:17:59,080 --> 00:18:01,280 Speaker 10: Yeah, not an judge, not a judge. 348 00:18:01,480 --> 00:18:04,960 Speaker 11: The activist who is causplaying a judge in a Halloween costume. 349 00:18:06,720 --> 00:18:11,480 Speaker 1: Okay, that's your characterization. I think on the current value 350 00:18:11,480 --> 00:18:14,359 Speaker 1: of stock options. I think the actual justice according to 351 00:18:14,440 --> 00:18:17,000 Speaker 1: the law, on the current value of stock options. I 352 00:18:17,040 --> 00:18:19,040 Speaker 1: think the value of that pay package stands at about 353 00:18:19,040 --> 00:18:22,000 Speaker 1: one hundred billion dollars. Are you saying you are relaxed 354 00:18:22,040 --> 00:18:26,640 Speaker 1: about the value of your future pay package? Your decision 355 00:18:26,720 --> 00:18:30,080 Speaker 1: to be committed to Tesla for the next five years 356 00:18:30,119 --> 00:18:32,119 Speaker 1: as long as you are still with us on this 357 00:18:32,240 --> 00:18:34,359 Speaker 1: planet is completely independent of pay. 358 00:18:35,200 --> 00:18:36,880 Speaker 3: No, it's not independent. 359 00:18:36,920 --> 00:18:38,960 Speaker 1: So pay is a relevant factor then to your commitment 360 00:18:39,000 --> 00:18:39,480 Speaker 1: to Tesla. 361 00:18:41,480 --> 00:18:45,840 Speaker 11: A sufficient voting control such that I cannot be ousted 362 00:18:45,840 --> 00:18:48,520 Speaker 11: by activists investors is what matters to me. And I've 363 00:18:48,520 --> 00:18:51,560 Speaker 11: said this publicly many times, but let's not have this 364 00:18:51,600 --> 00:18:54,280 Speaker 11: whole thing be a discussion of my list pay. 365 00:18:54,320 --> 00:18:55,160 Speaker 10: It's not a money thing. 366 00:18:55,240 --> 00:18:58,760 Speaker 11: It's a reasonable control thing over the future of the company, 367 00:18:58,840 --> 00:19:02,520 Speaker 11: especially for a building millions potentially billions of human roid robots. 368 00:19:03,119 --> 00:19:06,440 Speaker 10: I can't be sitting there and weren't. 369 00:19:06,200 --> 00:19:09,600 Speaker 11: Going to get tossed out by for political reasons back 370 00:19:09,640 --> 00:19:12,240 Speaker 11: to us. That would be unacceptable. That's all that matters. 371 00:19:12,920 --> 00:19:13,640 Speaker 11: Now let's move on. 372 00:19:13,840 --> 00:19:17,840 Speaker 1: Okay, Well, one question before we move on to other companies, 373 00:19:17,880 --> 00:19:19,840 Speaker 1: which is that I wonder if some of what you've 374 00:19:20,359 --> 00:19:23,240 Speaker 1: has happened to Tesla in the last few months, did 375 00:19:23,280 --> 00:19:24,399 Speaker 1: you take it personally? 376 00:19:25,000 --> 00:19:25,359 Speaker 10: Yes? 377 00:19:25,960 --> 00:19:28,840 Speaker 1: And did it make you regret any of you all 378 00:19:28,840 --> 00:19:31,080 Speaker 1: think twice about your political endeavors. 379 00:19:31,480 --> 00:19:36,680 Speaker 11: I did what needed to be done, the violent antibody reaction, 380 00:19:37,280 --> 00:19:40,640 Speaker 11: and I'm not someone who's ever committed violence, and yet 381 00:19:41,320 --> 00:19:45,080 Speaker 11: massive violence was committed against my companies, massive violence was 382 00:19:45,119 --> 00:19:48,639 Speaker 11: threatened against me. Who are these people? Why would they 383 00:19:48,680 --> 00:19:52,159 Speaker 11: do that? How wrong can they be? They're on the 384 00:19:52,200 --> 00:19:54,640 Speaker 11: wrong side of history, and that's an evil thing to do. 385 00:19:55,000 --> 00:19:59,119 Speaker 11: To go and damage some pointocent person's car to threaten 386 00:19:59,160 --> 00:20:01,600 Speaker 11: to kill me. What's wrong with These people have not 387 00:20:01,640 --> 00:20:04,960 Speaker 11: harmed anyone, so something needs to be done about them, 388 00:20:05,200 --> 00:20:07,119 Speaker 11: and a number of them are going to prison and 389 00:20:07,160 --> 00:20:07,840 Speaker 11: they deserve it. 390 00:20:08,240 --> 00:20:12,280 Speaker 1: You're referring to the attacks on Tesla showrooms, but I think. 391 00:20:12,240 --> 00:20:17,400 Speaker 11: Yeah, well, into showrooms and burning down cars unacceptable. Those 392 00:20:17,400 --> 00:20:19,679 Speaker 11: people will go to prison, and the people that funded 393 00:20:19,720 --> 00:20:21,800 Speaker 11: them and organized them will also go to prison. 394 00:20:21,960 --> 00:20:23,240 Speaker 10: Don't worry when. 395 00:20:23,200 --> 00:20:25,280 Speaker 1: You acknowledge that some of the people who turned against 396 00:20:25,280 --> 00:20:30,200 Speaker 1: Tesla in Europe were set at your politics, and very 397 00:20:30,200 --> 00:20:32,200 Speaker 1: few of them would have been violent in any way. 398 00:20:32,280 --> 00:20:36,359 Speaker 1: They just objected to what they saw you say or 399 00:20:36,359 --> 00:20:37,119 Speaker 1: do politically. 400 00:20:37,600 --> 00:20:40,399 Speaker 11: Well, it's certainly fine to object to political things, but 401 00:20:40,440 --> 00:20:44,160 Speaker 11: it's not fine to resort to violence and hanging someone 402 00:20:44,200 --> 00:20:48,600 Speaker 11: in effigy and death threats. That's obviously not okay, that's absurd, 403 00:20:49,040 --> 00:20:51,600 Speaker 11: That is in no way justifiable at all. 404 00:20:52,359 --> 00:20:55,240 Speaker 2: So that was Elon Musk speaking to Bluebergs. We can 405 00:20:55,440 --> 00:20:58,159 Speaker 2: editor at large Michell Hussein via video link at the 406 00:20:58,200 --> 00:21:02,080 Speaker 2: Cutter Economic Form and Michelle joins us now from the 407 00:21:02,119 --> 00:21:05,639 Speaker 2: Economic Forum. You covered a lot of ground with Elon Musk, 408 00:21:05,760 --> 00:21:08,159 Speaker 2: but we wanted to go back to the comments on 409 00:21:08,280 --> 00:21:11,719 Speaker 2: pulling back on political spending. There was no sense that 410 00:21:11,800 --> 00:21:14,920 Speaker 2: Elon Musk, though, might be pulling back from his quite 411 00:21:14,920 --> 00:21:16,159 Speaker 2: divisive politics. 412 00:21:16,359 --> 00:21:18,000 Speaker 3: More broadly, what did you think. 413 00:21:18,440 --> 00:21:22,680 Speaker 14: I think that's a valuable distinction and absolutely one worth making, 414 00:21:22,840 --> 00:21:27,200 Speaker 14: the difference between politics and political spending. And actually, even 415 00:21:27,280 --> 00:21:30,760 Speaker 14: on political spending, he did leave the door open when 416 00:21:30,800 --> 00:21:34,800 Speaker 14: he said he feels he's done enough, but essentially there 417 00:21:34,880 --> 00:21:38,320 Speaker 14: might be a need in the future. So we don't 418 00:21:38,320 --> 00:21:40,960 Speaker 14: know what that need might be. What are the We 419 00:21:41,320 --> 00:21:43,800 Speaker 14: have an idea of things that he would like to 420 00:21:43,840 --> 00:21:47,119 Speaker 14: see happen that haven't yet happened, which would need a 421 00:21:47,119 --> 00:21:50,200 Speaker 14: different attitude from the federal government or changes to the law, 422 00:21:50,240 --> 00:21:53,520 Speaker 14: for example, the Moon program becoming a Mars program, or 423 00:21:53,520 --> 00:21:57,679 Speaker 14: some of the rules around self driving cars. So I 424 00:21:57,720 --> 00:22:00,840 Speaker 14: think even on the political spending, there is a door 425 00:22:00,920 --> 00:22:03,320 Speaker 14: that's left open there. So it'll be so interesting to 426 00:22:03,359 --> 00:22:07,359 Speaker 14: see what the midterms bringing, indeed the next US presidential election, or. 427 00:22:07,320 --> 00:22:09,480 Speaker 3: Perhaps even political spending elsewhere in the world. 428 00:22:09,800 --> 00:22:12,240 Speaker 4: Yeah, indeed, plenty to watch on that front. 429 00:22:12,440 --> 00:22:15,080 Speaker 5: On the business side, we just heard some of the 430 00:22:15,119 --> 00:22:18,600 Speaker 5: conversation there around Tasley shrugged off the sales decline at 431 00:22:18,640 --> 00:22:21,239 Speaker 5: the electric carmaker. Did you get a sense though from 432 00:22:21,320 --> 00:22:24,400 Speaker 5: those comments of what his strategy was for the company 433 00:22:24,400 --> 00:22:24,879 Speaker 5: from here? 434 00:22:25,240 --> 00:22:29,040 Speaker 14: Well, I think his strategy is him essentially the fact 435 00:22:29,200 --> 00:22:33,800 Speaker 14: that he is very firmly signaling his commitment in time 436 00:22:34,160 --> 00:22:39,439 Speaker 14: in leadership and also putting this distance between himself and 437 00:22:39,560 --> 00:22:43,840 Speaker 14: politics and himself and the administration to some extent. And 438 00:22:44,000 --> 00:22:46,800 Speaker 14: so I think that's the strategy on the actual reality 439 00:22:47,119 --> 00:22:50,000 Speaker 14: for for Tesla and sales. As everyone will have heard, 440 00:22:50,040 --> 00:22:53,400 Speaker 14: he acknowledged problems in Europe. They are very significant. If 441 00:22:53,400 --> 00:22:56,240 Speaker 14: you look at a market like Sweden. In April, Tesla 442 00:22:56,280 --> 00:22:59,960 Speaker 14: sales were eighty percently lower than they were the previous April. 443 00:23:00,240 --> 00:23:03,800 Speaker 14: But also fewer vehicles have been shipped from Tesla plants 444 00:23:04,040 --> 00:23:07,239 Speaker 14: in China last month, and that's not a one off, 445 00:23:07,280 --> 00:23:10,200 Speaker 14: that has been like that for several months. But again, 446 00:23:10,240 --> 00:23:13,000 Speaker 14: I think in the market certainly responded to this him 447 00:23:13,040 --> 00:23:16,720 Speaker 14: saying that his commitment is the answer, that his commitment 448 00:23:16,800 --> 00:23:19,760 Speaker 14: is there, that is the strategy that he's banking on. 449 00:23:21,000 --> 00:23:23,720 Speaker 2: Yeah, and I thought again it was quite interesting that 450 00:23:23,840 --> 00:23:27,680 Speaker 2: he saw it through a political lens. The Tesla sales 451 00:23:27,760 --> 00:23:30,480 Speaker 2: in Europe, you know, we lost some sales on the left, 452 00:23:30,840 --> 00:23:33,280 Speaker 2: we gained some on the right. And yet at the 453 00:23:33,280 --> 00:23:36,000 Speaker 2: same time, when he was talking about Starlink in his 454 00:23:36,080 --> 00:23:39,600 Speaker 2: discussions with you, he was highlighting how the most important 455 00:23:39,600 --> 00:23:43,800 Speaker 2: thing for alleviating global poverty is to give people access 456 00:23:43,880 --> 00:23:47,560 Speaker 2: to you know, cheap and accessible internet in parts of 457 00:23:47,600 --> 00:23:49,320 Speaker 2: the world where they might not be getting it. 458 00:23:49,400 --> 00:23:53,120 Speaker 3: So you know it is is that is why he's 459 00:23:53,160 --> 00:23:55,719 Speaker 3: such a fascinating and interesting figure. 460 00:23:55,760 --> 00:24:00,480 Speaker 14: Isn't it absolutely and incredibly consequential in his action and 461 00:24:00,840 --> 00:24:04,160 Speaker 14: in the visions that he's pursued and made happen. There's 462 00:24:04,200 --> 00:24:08,560 Speaker 14: no doubt Starlink offers a really important service in many 463 00:24:08,920 --> 00:24:11,520 Speaker 14: parts of the world, in low income areas, in reaching 464 00:24:11,560 --> 00:24:14,480 Speaker 14: people who wouldn't otherwise have access to the Internet. And 465 00:24:14,600 --> 00:24:17,600 Speaker 14: it's absolutely critical to the Ukrainian front line. It's in 466 00:24:17,680 --> 00:24:21,960 Speaker 14: every Ukrainian frontline position. It's how soldiers communicate with their 467 00:24:22,000 --> 00:24:24,040 Speaker 14: bases and their hospitals. 468 00:24:24,560 --> 00:24:25,600 Speaker 3: He did get quite. 469 00:24:25,359 --> 00:24:28,480 Speaker 14: Exercised on this in relation to South Africa, because I 470 00:24:28,520 --> 00:24:31,840 Speaker 14: was pointing out that South Africa is one very current 471 00:24:32,280 --> 00:24:36,800 Speaker 14: example of more deals coming Starlink's way at the same 472 00:24:36,880 --> 00:24:39,400 Speaker 14: time that countries are trying to get on the right 473 00:24:39,440 --> 00:24:42,399 Speaker 14: side of the Trump administration. Now that is not a 474 00:24:42,480 --> 00:24:46,520 Speaker 14: conflict of interest that in On Musk recognizes, but he 475 00:24:46,760 --> 00:24:51,919 Speaker 14: certainly feels that any change to starlink in Starlin's access 476 00:24:51,960 --> 00:24:55,520 Speaker 14: to South Africa is the right thing to do because 477 00:24:55,600 --> 00:24:58,520 Speaker 14: it would essentially go around black ownership laws, which he 478 00:24:58,640 --> 00:24:59,840 Speaker 14: sees as racist. 479 00:25:00,880 --> 00:25:03,520 Speaker 5: Yeah, indeed, and that's in focus ahead of President Sarah 480 00:25:03,560 --> 00:25:06,399 Speaker 5: and oppose. I'm meeting Donald Trump later today as well. 481 00:25:06,920 --> 00:25:09,440 Speaker 5: It was a very wide ranging discussion. You covered all 482 00:25:09,480 --> 00:25:13,080 Speaker 5: the business interests, the politics, the overlap between them as well. 483 00:25:13,200 --> 00:25:15,960 Speaker 5: I wonder what else stood out for you from a 484 00:25:16,000 --> 00:25:18,760 Speaker 5: conversation that was at times quite combative. 485 00:25:19,640 --> 00:25:20,760 Speaker 10: Yes, it was. 486 00:25:21,440 --> 00:25:24,320 Speaker 14: Look, there were many areas that I wanted to make 487 00:25:24,359 --> 00:25:29,040 Speaker 14: sure we covered because his reach, his power, his influence 488 00:25:29,560 --> 00:25:33,639 Speaker 14: does stretch into so many areas of all our lives 489 00:25:33,920 --> 00:25:37,720 Speaker 14: and of our world. I think, yes, at times it 490 00:25:38,000 --> 00:25:41,919 Speaker 14: was combative, but I think he was willing for the 491 00:25:41,960 --> 00:25:44,479 Speaker 14: most part to answer questions. I think the one that 492 00:25:44,520 --> 00:25:48,239 Speaker 14: he dodged and where he ended up referring to me 493 00:25:48,280 --> 00:25:52,040 Speaker 14: as a NPC, like a non player character for video games. 494 00:25:52,200 --> 00:25:55,159 Speaker 14: Was about doge in the amount of money that he 495 00:25:55,240 --> 00:25:57,480 Speaker 14: now expects it to cut from the federal budget. The 496 00:25:57,520 --> 00:26:00,800 Speaker 14: contrast between the at least two trillion he was talking 497 00:26:00,840 --> 00:26:03,640 Speaker 14: about last autumn and the figure currently on the dose 498 00:26:03,720 --> 00:26:07,159 Speaker 14: dot gov website, which is one hundred and seventy billion dollars. 499 00:26:07,520 --> 00:26:11,720 Speaker 14: So that was amongst the areas which where I think 500 00:26:11,760 --> 00:26:15,080 Speaker 14: he didn't like the question, But overall he engaged, and 501 00:26:15,119 --> 00:26:17,800 Speaker 14: I think in this interview we did see the human 502 00:26:17,920 --> 00:26:22,919 Speaker 14: side of him and very specific answers to questions about 503 00:26:22,960 --> 00:26:25,760 Speaker 14: his companies and a sense of his future political direction. 504 00:26:27,720 --> 00:26:30,439 Speaker 5: This is Bloomberg Daybreak Europe, your morning brief on the 505 00:26:30,520 --> 00:26:33,560 Speaker 5: stories making news from London to Wall Street and beyond. 506 00:26:33,840 --> 00:26:37,800 Speaker 2: Look for us on your podcast feed every morning, on Apple, Spotify, 507 00:26:37,920 --> 00:26:39,840 Speaker 2: and anywhere else you get your podcasts. 508 00:26:39,920 --> 00:26:42,920 Speaker 5: You can also listen live each morning on London DAB Radio, 509 00:26:42,960 --> 00:26:45,679 Speaker 5: the Bloomberg Business app, and Bloomberg dot Com. 510 00:26:45,720 --> 00:26:48,480 Speaker 2: Our flagship New York station, is also available on your 511 00:26:48,520 --> 00:26:53,240 Speaker 2: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. 512 00:26:53,480 --> 00:26:55,520 Speaker 4: I'm Caroline Hepka and I'm Stephen Carroll. 513 00:26:55,560 --> 00:26:57,919 Speaker 5: Join us again tomorrow morning for all the news you 514 00:26:58,000 --> 00:27:00,880 Speaker 5: need to start your day right here on Bloomberg day Break. 515 00:27:00,880 --> 00:27:09,400 Speaker 2: Europe m mm hmm