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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug Prisner. Senate Republicans have voted down a war powers

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Speaker 1: resolution to halt President Trump's actions against Iran. Now, this

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Speaker 1: demonstrates early support for a conflict with no clear US

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Speaker 1: exit strategy, and the war is showing no sign of

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Speaker 1: slowing down. Today WTI crude oil waiver just below seventy

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Speaker 1: five dollars. That was after The New York Times reported

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Speaker 1: Iranian intelligence operatives reached out to the CIA through another

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Speaker 1: country's spy agency, with an offer to discuss terms for

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Speaker 1: ending the conflict. However, later in the day, Tehran dismissed

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Speaker 1: the report as a pure falsehood. And now we are

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Speaker 1: learning Kurdish Iranian dissident groups based in northern Iraq are

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Speaker 1: preparing for a potential cross border military operation in Iran.

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Speaker 1: Kurdish groups are widely seen as the most well organized

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Speaker 1: segment of Iranian opposition. Earlier today, Israel and US forces

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Speaker 1: bombed more targets in the Islamic Republic, and a US

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Speaker 1: submarine sank an Iranian warship in international waters. President Trump

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Speaker 1: expressed confidence in the US military campaign against Iran.

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Speaker 2: Somebody said on a scale of ten, where would you're ready?

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Speaker 3: I said about a fifteen.

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Speaker 2: And we're going to continue to do what we have

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Speaker 2: the greatest military in the world by far.

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Speaker 1: At the same time, the Pentagon said the US will

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Speaker 1: strike deeper into Iran. Here is Defense Secretary Pete Hegseth.

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Speaker 4: More and larger waves are coming. We are just getting started.

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Speaker 4: We are accelerating, not decelerating. Iran's capabilities are evaporating by

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Speaker 4: the hour, while American strength grows fiercer, smarter, and utterly dominant.

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Speaker 4: More bombers and more fighters are arriving just today.

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Speaker 1: Meantime, Former Secretary of State Anthony Blincoln said real change

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Speaker 1: in Iran will require a sustained focus from the US military,

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Speaker 1: and that could wear down stockpiles of US weapons. Blinkn

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Speaker 1: told Bloomberg that he worries about a scenario where the

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Speaker 1: US depletes its arsenal.

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Speaker 3: One of the things I'm worried about, and this gets

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Speaker 3: to the second and third order consequences, is we so

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Speaker 3: deplete our arsenal and it takes a long time to

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Speaker 3: rebuild it that that puts US in a disadvantageous position

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Speaker 3: when it comes to say a China or a Russia.

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Speaker 3: All of those things need to be factored in, and

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Speaker 3: again it's one of the reasons why if you're going

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Speaker 3: to undertake something like this, you've got to make sure

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Speaker 3: that you've factored all of that in.

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Speaker 1: You can hear the entire interview with former US Secretary

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Speaker 1: of State Anthony Blincoln on the Bloomberg Big Take podcast. Yesterday,

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Speaker 1: President Trump said the US would cut off all trade

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Speaker 1: with Spain. That was after the country denied the US

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Speaker 1: access to military bases for the American bombing campaign against Iran.

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Speaker 1: Well today, the White House said Spain agreed to cooperate. However,

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Speaker 1: the Spanish government denied that claim. On Tuesday, Goldman Sachs

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Speaker 1: CEO David Solomon expressed surprise at what he called the

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Speaker 1: market's benign reaction to war in Iran. Today, Solomon told

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Speaker 1: Bloomberg he does not see complacence.

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Speaker 2: I think there's a lot of uncertainty around the direction

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Speaker 2: of the conflict, how it'll be resolved, you know, what

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Speaker 2: the off ramps are, and you know, I think it's

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Speaker 2: fair to say when you look at markets, market reactions

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Speaker 2: have been relatively benign, and I certainly could have seen

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Speaker 2: over the last couple of days, you know, a little

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Speaker 2: bit more volatility. But I don't think people are being complacent.

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Speaker 2: I think that market participants are looking and trying to say,

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Speaker 2: you know, how is this going to play out? What's

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Speaker 2: the endgame?

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Speaker 1: As Goldman Sachs CEO David Solomon speaking to Bloomberg in Sydney, Australia.

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Speaker 1: Last week, negotiations between Anthropic and the Department of Defense

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Speaker 1: broke down over the Pentagon's use of the company's clawed

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Speaker 1: AI model, and that left Anthropic at risk of being

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Speaker 1: frozen out of the military supply chain. Well. Now, Anthropic

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Speaker 1: CEO Dario Amide is reportedly making a last ditch effort

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Speaker 1: to revive those talks. The Financial Times reports Amidae has

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Speaker 1: been in discussions with the Pentagon's Undersecretary for Research and

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Speaker 1: Engineering about finalizing a contract for the military's access to

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Speaker 1: Anthropics AI technology. A federal judge has ordered the Trump

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Speaker 1: administration to stop calculating emergency tariffs for importers. The judge

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Speaker 1: also questioned why the government was continuing to do so

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Speaker 1: after the Supreme Court ruled those tariffs illegal, and at

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Speaker 1: the same time, the judge told the Trump administration to

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Speaker 1: speed up the process of refunding importers for those levies.

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Speaker 1: In Texas, the GOP primary race for a US Senate

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Speaker 1: seat has forced a runoff in late May between Senator

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Speaker 1: John Cornyn and Attorney General Ken Paxton. Now, this has

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Speaker 1: prompted a response from President Trump today in a post

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Speaker 1: on truth Social Trump said he will make an endorsement,

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Speaker 1: and Trump also ask the candidate he does not endorse

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Speaker 1: to drop out of the race. Meantime, The Atlantic is

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Speaker 1: reporting Trump's political advisors expect him to endorse Senator Cornyn.

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Speaker 1: Here is Bloomberg's July Fine.

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Speaker 5: If this other candidate doesn't drop out of the race,

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Speaker 5: then the base may look at it and say, well,

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Speaker 5: the President asked you to drop out of the race.

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Speaker 5: It really puts the person that he doesn't endorse in

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Speaker 5: a very interesting position because they now have a decision

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Speaker 5: to make. Are they going to do what the President

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Speaker 5: asked or are they going to go ahead with this

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Speaker 5: runoff that again will be extremely expensive for the party.

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Speaker 1: That is Bloomberg's Julie Fine. Now, the winner of this

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Speaker 1: runoff will face James Tallerico, the Texas state lawmaker who

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Speaker 1: won the Democratic primary after the Bell Broadcom reported earnings

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Speaker 1: for the latest quarter above estimates, and the company's forecast

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Speaker 1: for revenue in the current quarter top the average analyst estimate,

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Speaker 1: and Broadcom also announced a new ten billion dollar stock

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Speaker 1: buyback plan. Shares are up about four percent in late

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Speaker 1: US trading. The House Oversight Committee has voted to subpoena

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Speaker 1: Attorney General Pam Bondi. She's being called to answer questions

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Speaker 1: over the Department of Justices handling of files related to

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Speaker 1: the investigation of Jeffrey Epstein's sex trafficking. Republican Nancy Mason

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Speaker 1: of South Carolina proposed the subpoena, and it passed over

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Speaker 1: the objection of the panel's chairman, James Comer of Kentucky.

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Speaker 1: And that is news when you want it with Bloomberg

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Speaker 1: News Now, I'm Doug Chrisner, and this is Bloomberg