WEBVTT - US & Iran Hail Progress; Ukraine and Russia Resume Talks

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with progress reported this morning in nuclear

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<v Speaker 3>talks between the US and Iran. Iran says it had

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<v Speaker 3>reached a quote general agreement on the terms of a

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<v Speaker 3>potential nuclear deal that would lift sanctions on Tehran and

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<v Speaker 3>ease the risk of a broader Middle East war.

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<v Speaker 4>Here's Iran's Foreign Minister of Basaragchi.

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<v Speaker 5>You're hopeful that negotiation will lead to a sustainable and

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<v Speaker 5>negotiated solution. At the same time, as demonstrated during the

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<v Speaker 5>aggression of thirteen June twenty twenty five, Iran remains fully

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<v Speaker 5>prepared to defend itself against any threats.

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<v Speaker 3>Iranian FIGN Minister Abbas Uraji made those comments in Geneva.

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<v Speaker 3>Vice President j D. Vance spoke about the talks with

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<v Speaker 3>Fox News. You know, in some ways it went well,

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<v Speaker 3>they agreed to meet afterwards. But in other way is

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<v Speaker 3>it was very clear that the President has set some

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<v Speaker 3>red lines that the Iranians are not yet willing to

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<v Speaker 3>actually acknowledge and work through. So we're going to keep

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<v Speaker 3>on working it but of course the President reserves the

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<v Speaker 3>ability to say when he thinks that diplomacy has reached

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<v Speaker 3>its natural end. We hope it will get to that point,

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<v Speaker 3>but if we do, that'll be the president's call. And

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<v Speaker 3>that was Vice President jd Vance on Fox News. The

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<v Speaker 3>US Induran will each draft and exchange texts for a

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<v Speaker 3>deal before setting a date for a third round of talks.

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<v Speaker 2>Well, Nathan, Also happening in Geneva, Ukraine and Russia. We'll

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<v Speaker 2>begin a second day of US broker talk. Central among

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<v Speaker 2>the unresolved issues is Russian President Vladimir Putin's demand that

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<v Speaker 2>Ukraine handover territory in its eastern Donetsk region that Moscow

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<v Speaker 2>has failed to conquer in fighting.

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<v Speaker 3>Here in Japan plans to invest thirty six billion dollars

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<v Speaker 3>in US oil, gas, and critical mineral projects. It's the

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<v Speaker 3>first trunch of a five hundred and fifty billion dollar

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<v Speaker 3>commitment under Japan's trade agreement with President Trump. The most

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<v Speaker 3>significant investment is a natural gas facility in Ohio is

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<v Speaker 3>expected to generate the power equivalent of nine nuclear reactors.

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<v Speaker 4>Bloomberg's Lord Davison has more from Hong Kong.

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<v Speaker 6>There are some questions just about the size and scope

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<v Speaker 6>of this project just because it would be the biggest

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<v Speaker 6>energy project of its kind.

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<v Speaker 7>There are also two other projects.

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<v Speaker 6>One is a crude export facility in the Gulf of

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<v Speaker 6>Mexico off the Texas coast, as well as a project

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<v Speaker 6>that would produce synthetic diamonds. Those are used in the

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<v Speaker 6>manufacturing of semiconductors, energy, and automobiles as well.

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<v Speaker 3>Bloomberg's Lord Davison says the announcement comes weeks before Japanese

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<v Speaker 3>Prime Minister Sona Etakaichi is set to meet with President

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<v Speaker 3>Trump in Washington.

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<v Speaker 2>Nathan there's more a fallout this morning from the Jeffrey

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<v Speaker 2>Epstein files, and Bloomberg's Alexis Christofferis has the latest from

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<v Speaker 2>New York.

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<v Speaker 8>Two teachers' unions are asking the Securities in Exchange Commission

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<v Speaker 8>to look at a twenty twenty one statement from Apollo

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<v Speaker 8>Global Management about its contact with the late sex offender

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<v Speaker 8>and whether it could be considered materially false or misleading.

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<v Speaker 8>The Justice Department's latest files show Epstein corresponded with Apolo

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<v Speaker 8>then CEO Leon Black, its current CEO, Mark Rowan, and

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<v Speaker 8>others in the firm. The American Federation of Teachers says.

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<v Speaker 8>Apollo's statement claims Black never promoted Epstein's services to other

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<v Speaker 8>senior executives, and Apollo spokesman says no one at the

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<v Speaker 8>firm other than Black had a personal or business relationship

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<v Speaker 8>with Epstein. Meanwhile, the House Oversight Committee is set to

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<v Speaker 8>hear a closed door deposition today from billionaire Les Wexner.

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<v Speaker 8>The eighty eight year old founder of L Brands, has

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<v Speaker 8>spent years answering for his decades long relationship with Epstein.

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<v Speaker 8>Wexner has long denied any knowledge of Epstein's crimes, but

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<v Speaker 8>his prominent victim, Virginia Gouffrey, has claimed Wexner as one

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<v Speaker 8>of the men Epstein trafficked her. Two In New York,

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<v Speaker 8>Alexis christoffers Bloomberg Radio.

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<v Speaker 3>Okay, Alexis, thank you now to the latest in the

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<v Speaker 3>search for Nancy Guthrie. It's been eighteen days since the

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<v Speaker 3>mother of Today's Show host Savannah Guthrie was last seen.

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<v Speaker 3>Investigators are looking for fresh leads after a glove founder

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<v Speaker 3>of the eighty four year old's home failed to match

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<v Speaker 3>any DNA profiles in the FBI's database. They're working with

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<v Speaker 3>the maker of Guthrie's pacemaker to see if they can

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<v Speaker 3>track her through the device. Richard Frankel is a retired

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<v Speaker 3>FBI agent.

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<v Speaker 9>It connects to the bluetooth within her pacemaker and if

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<v Speaker 9>they get a hit on it, although you know, they

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<v Speaker 9>can get down to, you know, within meters of where

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<v Speaker 9>that pacemaker might be, but that pacemaker has to be

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<v Speaker 9>emitting a charge at the same time.

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<v Speaker 3>It's retired FBI agent Richard Frankel. Investigators are also processing

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<v Speaker 3>evidence from two search warrants from last week, and they're

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<v Speaker 3>canvassing gun shops with surveillance footage to see if the

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<v Speaker 3>suspect looks familiar. The reward is now to one hundred

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<v Speaker 3>thousand dollars for information that leads to Nancy Guthrie's return.

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<v Speaker 4>Let's turn to the markets now.

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<v Speaker 2>Nathan futures are higher ahead of today's session. Stocks rebounded

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<v Speaker 2>yesterday from an early sell off to eke out gains,

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<v Speaker 2>and we're getting worried this morning about some big moves

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<v Speaker 2>from Wall Street investors, including Warren Buffett. Bloomberg's John Tucker

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<v Speaker 2>joins us with the very latest. John, Good morning, Good morning.

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<v Speaker 10>Karen Buffett's Berkshire hathaway A slashed its stake in Amazon

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<v Speaker 10>by more than seventy five percent of the fourth quarter.

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<v Speaker 10>It now owns roughly two point three million shares of

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<v Speaker 10>the company. And so what did Buffett dump Amazon for

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<v Speaker 10>The New York Times? This marks his last new bet

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<v Speaker 10>as CEO of Berkshire. A regulatory filing shows Berkshire acquired

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<v Speaker 10>five point one million shares of The Times. It's a

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<v Speaker 10>stake that was worth almost three hundred and fifty two

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<v Speaker 10>million dollars a. Berkshire first bought a steak in Amazon

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<v Speaker 10>back in twenty nineteen. He sent at the time that

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<v Speaker 10>despite his aversion to tech stocks, he'd been quote an

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<v Speaker 10>idiot for not buying the online retailer giants' shares sooner.

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<v Speaker 10>Shares of The New York Times search more than ten

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<v Speaker 10>percent at postmarket trading in New York. I'm John Tucker,

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<v Speaker 10>Bloomberg Radio, All.

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<v Speaker 4>Right, John, thank you.

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<v Speaker 3>Shares of Nvidia are up two percent in early trading.

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<v Speaker 3>Meta Platforms has agreed to deploy millions of Nvidia processors

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<v Speaker 3>over the next few years. Meta accounts for about nine

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<v Speaker 3>percent of Nvidia's revenue. It's committing to use more AI

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<v Speaker 3>processors and networking equipment from the supplier. Meta shares are

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<v Speaker 3>up almost one percent.

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<v Speaker 2>Nathan, The FED is trying to assess the impact of

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<v Speaker 2>artificial intelligence on the economy and productivity growth. San Francisco

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<v Speaker 2>Fed Bank President Mary Daily says policymakers must be open

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<v Speaker 2>to signs that AI will have a major impact.

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<v Speaker 11>So what we're looking for is a technology to give

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<v Speaker 11>us consistently good changes in productivity, so that all industries

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<v Speaker 11>at scale get better. Industries figure out new ways to

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<v Speaker 11>generate revenue, new ways to do product design, new ideas

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<v Speaker 11>to come and shape the economy. That's the thing that

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<v Speaker 11>has a sustained productivity growth part. So it's undeniable. Productivity

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<v Speaker 11>growth has gone up. What's not as clear is how

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<v Speaker 11>long will that last?

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<v Speaker 2>In San Francisco Fed Bank President Mary Daily made the

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<v Speaker 2>comments to Bloomberg's Ed Ludlow at San Jose State University.

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<v Speaker 4>And europe Caring.

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<v Speaker 3>There are reports this morning that European Central Bank President

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<v Speaker 3>Christine Legard is planning to step down from her role

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<v Speaker 3>before it's scheduled to end. Let's go to London get

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<v Speaker 3>the details from Bloomberg's Ewan Potts.

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<v Speaker 4>Ewan, what are we.

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<v Speaker 12>Hearing Nathan and Karen Christine Leaguard's eight year term as

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<v Speaker 12>boss of the European Central Bank is due to run

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<v Speaker 12>until October twenty twenty seven, but the FT reports today

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<v Speaker 12>that the Guard plans to step down before the French

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<v Speaker 12>presidential election in April of next year, allowing current President

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<v Speaker 12>Emmanuel Macron the chance to take part in selecting the

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<v Speaker 12>ECB's next leader. The Bank itself has issued a statement

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<v Speaker 12>saying the God is totally focused on her mission and

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<v Speaker 12>has not taken any decision regarding the end of her

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<v Speaker 12>term in London. I'm you in pots Bloomberg.

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<v Speaker 2>Radio Time Now for it look at some of the

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<v Speaker 2>other stories making news in New York and around the world,

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<v Speaker 2>and for that we're joined by Bloomberg's Michael Barr.

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<v Speaker 4>Michael, good Morning, Good morning.

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<v Speaker 13>Karen Cruz have pushed through mountainous wilderness in California near

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<v Speaker 13>Lake Tahoe during a snowstorm to rescue six backcountry skiers

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<v Speaker 13>who has survived an avalanche but were trapped by its

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<v Speaker 13>snow and ice. The Nevanna County Sheriff's Captain Russell Green

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<v Speaker 13>says at least nine others from their tour group remained missing.

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<v Speaker 7>I wouldn't say it's normal, not in these conditions of

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<v Speaker 7>the area's very tough to access, and the more people

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<v Speaker 7>that we have up there, the higher chance of another

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<v Speaker 7>incident happening. So we're us asking people to avoid the area.

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<v Speaker 13>Captain Russell Green, we're learning more about the person who

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<v Speaker 13>opened fire Monday during a youth hockey game and an

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<v Speaker 13>ice rink in Rhode Island. The victims killed were the

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<v Speaker 13>shooter's ex wife, Ronda Dorgan, and adult son Aidendorgan. Three

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<v Speaker 13>others were injured. Paul Tucket Chief of Police Tina Gonklavs

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<v Speaker 13>says among them was the shooter's ex wife's parents and

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<v Speaker 13>a family friend.

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<v Speaker 14>They were all at the event for a son, a

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<v Speaker 14>juvenile sun who was playing hockey. It was their senior night,

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<v Speaker 14>and there was no expectations or any indication that there

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<v Speaker 14>was going to be any type of violence.

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<v Speaker 13>Belice've identified the shooter as fifty six year old to

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<v Speaker 13>Robert Dorgan, who also went by the name ROBERTA. Esposito.

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<v Speaker 13>Police say Dorgan died from an apparent self inflicted gunshot wound.

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<v Speaker 13>New York City Mayor Zora Memdanni is proposing raising the

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<v Speaker 13>city's property taxes for the first time in more than

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<v Speaker 13>two decades and is looking to raise the city's reserve

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<v Speaker 13>funds to fill a roughly five billion dollar budget gap.

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<v Speaker 13>Ma'm donnie's unveiling part of the one hundred and twenty

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<v Speaker 13>seven billion dollar preluminary budget proposal.

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<v Speaker 15>If we do not fix the structural imbalance and do

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<v Speaker 15>not heed the calls of New Yorkers to raise taxes

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<v Speaker 15>on the wealthy, this crisis will not disappear. It will

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<v Speaker 15>simply return year after year, forcing harder and harsher choices

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<v Speaker 15>each time.

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<v Speaker 13>According to Memdannie's proposal, the nine point five percent property

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<v Speaker 13>tax hike would take effect beginning July. First Global News

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<v Speaker 13>twenty four hours a day and whenever you want it

0:09:54.600 --> 0:09:57.880
<v Speaker 13>with the Bloomberg News. Now Michael barn this is Bloomberg.

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<v Speaker 4>Karen, Thanks Michael.

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<v Speaker 2>Time Now there are Bloomberg Sports Update, and for that

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<v Speaker 2>we bring in John stash Hour, Thanks Kare.

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<v Speaker 16>At the Olympics today, of the American skier Mikhaela Shifferd,

0:10:07.480 --> 0:10:10.120
<v Speaker 16>who is at a very disappointing Winter Games, goes for

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<v Speaker 16>a medal in her best event, the slalom. The US

0:10:12.800 --> 0:10:16.360
<v Speaker 16>men's hockey team plays Sweden in the quarterfinals yesterday, a

0:10:16.400 --> 0:10:19.320
<v Speaker 16>silver medal won by American Mac Foorhan in the freestyle

0:10:19.360 --> 0:10:21.760
<v Speaker 16>Big Air and a silver and speed skating in the

0:10:21.800 --> 0:10:25.720
<v Speaker 16>team pursuit. College basketball Michigan now ranked number one with

0:10:25.800 --> 0:10:28.920
<v Speaker 16>a victory at seventh ranked Purdue. Tony Clark resigned as

0:10:28.920 --> 0:10:31.040
<v Speaker 16>the head of the Major League Baseball Players Association.

0:10:31.120 --> 0:10:32.400
<v Speaker 4>Had the job for twelve years.

0:10:32.559 --> 0:10:33.920
<v Speaker 16>That's your Bloomberg Sports Update.

0:10:35.480 --> 0:10:39.199
<v Speaker 2>Stay with us more from Bloomberg day Break coming up after.

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<v Speaker 1>This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

0:10:47.640 --> 0:10:50.480
<v Speaker 1>and around the world on Bloomberg dot Com and the

0:10:50.520 --> 0:10:53.920
<v Speaker 1>Bloomberg Business opp This is Bloomberg Daybreak.

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<v Speaker 4>Good morning of Nathan Hagar.

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<v Speaker 3>Both the US and Iran are reporting progress in their

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<v Speaker 3>latest round of nuclear talks engine but with two US

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<v Speaker 3>aircraft carrier groups still in the region. Vice President jd

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<v Speaker 3>Vance is voicing cautious optimism. We would very much like,

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<v Speaker 3>as the President has said, to resolve this through a conversation,

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<v Speaker 3>in a diplomatic negotiation, but the President has all options

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<v Speaker 3>on the table. That was Vice President jd Vance in

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<v Speaker 3>an interview with Fox News. And we're joined now by

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<v Speaker 3>Goldnar motor Vali, who heads Iran coverage for Bloomberg News.

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<v Speaker 4>Golnar, Good morning.

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<v Speaker 3>So where do things stand between the US and Iran

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<v Speaker 3>after this latest round of talks.

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<v Speaker 17>Well, both of them have sounded cautiously optimistic, which is

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<v Speaker 17>kind of similar to how they were after the first

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<v Speaker 17>round of talks, and this sort of positive, general positive

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<v Speaker 17>mood music suggests that they are planning to meet again,

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<v Speaker 17>and in fact, the Uranian Forum minister did say that

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<v Speaker 17>there is that there will be a third round of

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<v Speaker 17>talks on the table. We just don't know when that's

0:11:57.640 --> 0:11:59.240
<v Speaker 17>going to be and what the date for that is.

0:11:59.280 --> 0:12:02.840
<v Speaker 17>I think the biggest question mark, or there are several

0:12:02.920 --> 0:12:06.760
<v Speaker 17>question marks over exactly what it is that they are discussing.

0:12:07.160 --> 0:12:10.880
<v Speaker 17>There are some unconfirmed reports, and we've been hearing from

0:12:11.000 --> 0:12:16.160
<v Speaker 17>various sources here and there that possibly what they're going

0:12:16.240 --> 0:12:19.760
<v Speaker 17>back to is something that's actually quite similar, ironically to

0:12:19.920 --> 0:12:24.440
<v Speaker 17>the original Nuclear Deal or Joint Comprehensive Plan of Action

0:12:24.520 --> 0:12:27.480
<v Speaker 17>that was a grill agreed during the Obama administration, which

0:12:27.520 --> 0:12:31.560
<v Speaker 17>Donald Trump famously withdrew from in his first term. But

0:12:31.679 --> 0:12:34.480
<v Speaker 17>I think the senses given what we heard from the

0:12:34.559 --> 0:12:37.680
<v Speaker 17>Ranian from minister last year when he first started his

0:12:37.760 --> 0:12:41.600
<v Speaker 17>talks with Steve Wikoff, that was before the Israeli military

0:12:41.600 --> 0:12:45.080
<v Speaker 17>attack on Iran in June, that there is a push

0:12:45.080 --> 0:12:49.560
<v Speaker 17>from Iran to provide more commercial and financial incentives to

0:12:49.600 --> 0:12:52.920
<v Speaker 17>the US administration because they think that would be more

0:12:53.200 --> 0:12:56.040
<v Speaker 17>attractive to Trump. But we don't know right now what

0:12:56.120 --> 0:12:59.120
<v Speaker 17>the exact contours are. What we do know is that

0:12:59.160 --> 0:13:01.520
<v Speaker 17>the Iranians have said that they have a set of

0:13:01.559 --> 0:13:05.920
<v Speaker 17>guiding principles on which they are going to work and

0:13:05.960 --> 0:13:11.200
<v Speaker 17>on that basis they are going to exchange texts that

0:13:11.400 --> 0:13:16.120
<v Speaker 17>could provide again a framework for a possible deal.

0:13:16.240 --> 0:13:18.840
<v Speaker 18>The language is deliberately, I think vague.

0:13:19.200 --> 0:13:23.760
<v Speaker 17>It's deliberately indirect about how far they are from actually

0:13:23.800 --> 0:13:24.880
<v Speaker 17>finalizing something.

0:13:24.920 --> 0:13:25.680
<v Speaker 18>But I think.

0:13:25.520 --> 0:13:29.440
<v Speaker 17>That's the way that they have to frame it going forward,

0:13:29.480 --> 0:13:33.040
<v Speaker 17>because there are obviously a lot of things that they

0:13:33.040 --> 0:13:35.280
<v Speaker 17>still need to discuss and finalize.

0:13:35.440 --> 0:13:39.280
<v Speaker 3>The construction framework of a possible deal is syntax we've

0:13:39.280 --> 0:13:42.760
<v Speaker 3>heard before from President Trump and past negotiations as well.

0:13:43.040 --> 0:13:45.760
<v Speaker 3>We also heard from Vice President Vance saying that the

0:13:45.800 --> 0:13:50.280
<v Speaker 3>President has laid out red lines that Iran shouldn't cross.

0:13:50.440 --> 0:13:52.800
<v Speaker 3>Do we have clarity from the administration as far as

0:13:52.840 --> 0:13:55.520
<v Speaker 3>you can see, Golnar about what those red lines are?

0:13:58.040 --> 0:13:59.319
<v Speaker 18>So I think That's.

0:13:59.120 --> 0:14:01.600
<v Speaker 17>An interesting question as well, because we know that Donald

0:14:01.640 --> 0:14:04.640
<v Speaker 17>Trump has kind of changed or kind of oscillated between

0:14:04.920 --> 0:14:09.120
<v Speaker 17>the nuclear Iran's nuclear program and Iran's brutal suppression of

0:14:09.160 --> 0:14:13.560
<v Speaker 17>the protests. There's a massive, massive uprising we had a

0:14:13.559 --> 0:14:16.360
<v Speaker 17>couple of months ago between those two things as the

0:14:16.400 --> 0:14:22.080
<v Speaker 17>motivating driving factor behind his kind of military threats on

0:14:22.200 --> 0:14:24.160
<v Speaker 17>Iran and using that to.

0:14:24.240 --> 0:14:26.920
<v Speaker 18>Leverage a deal out of the Uranians.

0:14:27.840 --> 0:14:32.520
<v Speaker 17>So that's interesting in terms of what actually the Uranians

0:14:33.000 --> 0:14:37.840
<v Speaker 17>are being told in the indirect talks with Steve Wikoff.

0:14:37.880 --> 0:14:42.560
<v Speaker 17>But it looks increasingly like the Americans have settled on

0:14:42.680 --> 0:14:45.880
<v Speaker 17>focusing on Iran's nuclear program.

0:14:45.960 --> 0:14:48.960
<v Speaker 18>In terms of military red.

0:14:48.760 --> 0:14:53.280
<v Speaker 17>Lines, I would say anything from the Iranians that kind of.

0:14:54.760 --> 0:14:58.880
<v Speaker 18>Is a is a.

0:14:57.240 --> 0:15:00.840
<v Speaker 17>Stronger threat than what they've already done. They've already done,

0:15:00.880 --> 0:15:03.120
<v Speaker 17>which of these military trills in the Persian Gulf that

0:15:03.160 --> 0:15:06.840
<v Speaker 17>we know I'm closed up the strait of Homer's partially.

0:15:06.920 --> 0:15:10.000
<v Speaker 17>Anything beyond that I think would constitute some kind of redline.

0:15:11.640 --> 0:15:14.600
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