Speaker 1: News when you want it with Bloomberg News Now, I
Speaker 1: made kellegi. US and Canadian negotiators haggled froddy over terms
Speaker 1: of a trade deal that would cut tariffs and retaliatory
Speaker 1: measures between the two major trading partners, with signs of
Speaker 1: optimism that a pact would be finalized before a midnight
Speaker 1: deadline in Washington. Under the terms being discussed, the US
Speaker 1: would reduce tariffs on autos from Canada to fifteen percent
Speaker 1: and lower some steel and aluminum tariffs to twenty five percent,
Speaker 1: subject to a quota for the medals. This according to
Speaker 1: people familiar with the matter who asked not to be
Speaker 1: identified discussing private deliberations. Potential exclusions and other measures also
Speaker 1: could change the scope of any steel and aluminum levies.
Speaker 1: US Chief Justice John Roberts says President Trump can keep
Speaker 1: building his new White House ballroom while the Supreme Court
Speaker 1: considers a longer term order. Bloomberg legal analyst June Grosso
Speaker 1: weighs in.
Speaker 2: It takes five justices to issue a stay, so that
Speaker 2: will be coming up, and I anticipate that the Chief
Speaker 2: Justice wouldn't have issued this if he didn't think that
Speaker 2: let the ballroom go ahead. I mean, there have been
Speaker 2: two times I can think of, in big cases where
Speaker 2: they've stopped President Trump, so this shouldn't be a surprise.
Speaker 3: Really.
Speaker 1: You can listen to June Grosso's full analysis on the
Speaker 1: Bloomberg BusinessWeek Daily Podcast. The Trump administration argues the President
Speaker 1: has total authority to renovate the White House and the
Speaker 1: ballroom project must be complete because it is considered a
Speaker 1: national security concern. The White House is threatening new sanctions
Speaker 1: against other countries that trade with Iran. China is Iran's
Speaker 1: major buyer of oil, but former National Security advisor John
Speaker 1: Bolton does not see that as a cause for concern.
Speaker 1: Bolton talked about it on Bloomberg's Balance of Power.
Speaker 4: Our blockade against Iranian exports or imports through the straight
Speaker 4: or form moves is extremely effective. They could shift some
Speaker 4: through the CASPI into Russia, but by and large, Iran's
Speaker 4: root is through the strait of horror Moones, and if
Speaker 4: we cut that off, it really doesn't matter what China
Speaker 4: thinks about it. There's just no oil coming out from Iran.
Speaker 1: Former National Security advisor John Bolton. California Governor Gavin Newsom
Speaker 1: says he'd prefer a settlement of the state Attorney General's
Speaker 1: lawsuit opposing Paramount Sky Dances one hundred and ten billion
Speaker 1: dollar acquisition of Warner Brothers Discovery, if it's a good deal.
Speaker 3: Earlier this week you heard the Attorney General himself say
Speaker 3: he'd prefer this settled in the boardroom, not the courtroom.
Speaker 3: So I think there's some universal sentiment there if that's possible.
Speaker 3: The question is is that possible, and what's the best deal?
Speaker 3: What's the lanning that has to be worked through, And
Speaker 3: that's a process that's unfolding, I assure you in real time.
Speaker 1: As of last week, Paramount had won regulatory clearance from
Speaker 1: sixty eight jurisdictions around the world for the deal, leaving
Speaker 1: a group of states led by California Attorney General Rob
Speaker 1: Bonta as the final impediment to a closing. They argue
Speaker 1: the merger would hurt film and television distribution and result
Speaker 1: in fewer jobs in the entertainment industry. TikTok and Chinese
Speaker 1: parent by Dance agreed to pay four hundred billion dollars
Speaker 1: to resolve a Biden era lawsuit by the Justice Department
Speaker 1: accusing the popular social media app of collecting data on
Speaker 1: Choulden and violation of an online privacy law. The settlement
Speaker 1: comes several months after by Dance closed along the Way
Speaker 1: to deal to transfer parts of its US operations to
Speaker 1: American investors to resolve national security concerns. Apple is cutting
Speaker 1: jobs across teams responsible for the Serie Digital Assistant and
Speaker 1: the Vision Pro headset, part of an effort to focus
Speaker 1: on new devices and artificial intelligence. Apple is also laying
Speaker 1: off employees and its Intelligence Systems Experience, a team within
Speaker 1: its software engineering organization responsible for some of the AI
Speaker 1: features on its devices. As part of the changes, the
Speaker 1: company is largely shutting down a Vision Pro team focused
Speaker 1: on gaming for the headset, and reducing the size of
Speaker 1: a unit responsible for producing the device's immersive video content.
Speaker 1: White House Press Secretary Caroline Levitt says she will return
Speaker 1: to MAGA Incorporated, the President's super Political Action Committee when
Speaker 1: she leaves her post later this month. Levit announced earlier
Speaker 1: this month that she would step down from her role
Speaker 1: as Press secretary, one of a number of high profile
Speaker 1: White House departures ahead of November's mid term elections. The
Speaker 1: Pentagon Friday fired the editor in chief of Stars and Stripes,
Speaker 1: as well as its publisher and a reporter. The editor
Speaker 1: said this. He said he was dismissed for insubordination after
Speaker 1: an interview he gave that objected to potential censorship by
Speaker 1: the US military. Eric Slaven, editor in chief of the
Speaker 1: military newspaper that is partly funded by the Pentagon but
Speaker 1: has a long legacy of editorial independence, told the Associated
Speaker 1: Press that he and the others had received notices of separation.
Speaker 1: The Friday number is on Wall Street. The Dow gained
Speaker 1: five seventeen, NASDAK added one thirteen. The S and P
Speaker 1: five hundred was up thirty three. The tenure Treasury yield
Speaker 1: is at four point seven three percent. The two year
Speaker 1: is at four point two three percent. That's news when
Speaker 1: you want it with Bloomberg News Now, I made Keleggie.
Speaker 1: This is flush