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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest on the war with Iran.

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Speaker 4: Efforts to keep a peace deal on track if turned

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Speaker 4: complicated thanks to fighting between Israel and Iran backed Hezbala

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Speaker 4: in Lebanon. Iran has said it's suspending talks with the

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Speaker 4: US due to the clashes, but President Trump posted on

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Speaker 4: social media that Israel turned its troops around after he

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Speaker 4: asked Prime Minister Benjamin Netan Yahoo not to conduct a

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Speaker 4: major raid in Beirut. Later, Netanyahu posted that Israel will

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Speaker 4: strike if Hezbala doesn't stop firing on his country. We

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Speaker 4: get more from Bloomberg zabirabu Omar in Dubai.

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Speaker 5: Lebanon has emerged as a sticking point in the wider

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Speaker 5: negotiations between Iran and the United States. So what we

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Speaker 5: know is Axios reported earlier in expletive leaden call Queen

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Speaker 5: President Trump and Prime Minister Benjamin N'atagnan, who yesterday and

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Speaker 5: the President Trump came after and said that Israel had

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Speaker 5: agreed to not raid the capital of Lebanon, Beirut. This

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Speaker 5: is after Benjamin Natagnell, who said that there were plans

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Speaker 5: to send troops or to attack the suburbs in Beirut.

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Speaker 4: Bloomberg's Bier Abu Omar reports President Trump's also saying talks

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Speaker 4: with Iran are continuing at a rapid pace, but Tehran

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Speaker 4: disputes that. The semi official Mayor's news agency is reporting

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Speaker 4: Iran's discussing its final text of an interim peace steal,

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Speaker 4: but no response has been sent yet. The report says

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Speaker 4: Iran is being strict due to pass breaches of trust

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Speaker 4: by the US.

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Speaker 2: Well in the US Nathan, President Trump is looking to

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Speaker 2: address rising costs for farmers and manufacturers. The White House

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Speaker 2: says it's cutting tariffs on agricultural equipment from twenty five

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Speaker 2: to fifteen percent. The proclamation says foreign companies could qualify

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Speaker 2: for a lower ten percent rate if their equipment contains

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Speaker 2: at least eighty five percent American steel or aluminum. The

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Speaker 2: tariff changes take effect on Sunday and run through the

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Speaker 2: end of next year.

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Speaker 4: Also on the trade front, Karen European Union lawmakers have

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Speaker 4: given preliminary approval to their trade deal with the US

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Speaker 4: as clear as a path for final ratification for President

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Speaker 4: Trump's threatened higher tariff deadline. The full European Parliament's now

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Speaker 4: scheduled to vote on ratification two weeks from today. EU

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Speaker 4: member states are expected to give their final assent shortly

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Speaker 4: after that.

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Speaker 2: Nathan my Partisan backlash has pushed the Trump administration to

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Speaker 2: draw plans to pursue a controversial anti weaponization fund. Bloomber's

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Speaker 2: Monica Rix as the details.

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Speaker 6: The Trump administration says it's scrapping a one point eight

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Speaker 6: billion dollar legal fund for victims of alleged government weaponization,

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Speaker 6: including January six riders. The move followed backlash from both

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Speaker 6: Democrats and Republicans, who called this a slush fund for

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Speaker 6: Trump's allies. Now it's still unclear whether this will affect

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Speaker 6: the president's settlement with the IRS, which banned the agency

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Speaker 6: from looking into his tax returns, but several GEO the

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Speaker 6: Peace senators had recently threatened to hold up an immigration

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Speaker 6: enforcement package and funding for Trump's ballroom if this fund

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Speaker 6: wasn't dropped. Monica Ricks Bloomberg Radio.

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Speaker 3: Kay Monica, thank you.

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Speaker 4: Republicans hold a narrow majority in the House, but they

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Speaker 4: face a tough mid term environment and we're in the

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Speaker 4: heart of primary season, Bloomberg Zamy Morris reports from Washington.

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Speaker 7: New Jersey voters are set to nominate candidates for both

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Speaker 7: chambers in a state primary, including the seventh congressional district

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Speaker 7: that could decide control of the US House. In California,

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Speaker 7: the primary season is ending as voters decide who will

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Speaker 7: run for governor and mayor of La. Republican gubernatorial candidate

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Speaker 7: Steve Hilton says He's honored to have Trump's endorsement.

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Speaker 4: When I'm governor, We'll have a cooperative relationship with the administration.

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Speaker 7: And Democratic gubernatorial candidate and former California Attorney General Javie

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Speaker 7: Visera rallied supporters in West Hollywood.

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Speaker 4: As governor, my job is to ensure that I am

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Speaker 4: protecting your rights.

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Speaker 7: Iowa, Montana, New Mexico, and South Dakota are also holding

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Speaker 7: primaries in Washington. Amy Moore as Bloomberg Radio.

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Speaker 2: Right, Amy, thank you on The race for New Jersey's

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Speaker 2: seventh district, which includes suburban towns, rolling farmland and one

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Speaker 2: of President Trump's golf clubs, is the state's highest profile primary.

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Speaker 2: Four Democrats are competing to take on Republican incumbent Tom

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Speaker 2: Caine Junior, who's been absent from Congress for months as

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Speaker 2: he deals with an unspecified medical issue, also being washed

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Speaker 2: as a Republican Senate primary and voters face four way

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Speaker 2: race between attorney Justin Murphy, surgeon Robert Lebovick's army veteran

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Speaker 2: Richard Tiboor, and former TV reporter Alex hen Ann. The

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Speaker 2: winner will face Democratic Senator Corey Booker, who is running

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Speaker 2: for a full third term.

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Speaker 4: Karen Famed short seller Andrew Left faces the possibility of

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Speaker 4: decades behind bars.

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Speaker 3: He's been found.

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Speaker 4: Guilty of securities fraud. Bloomberg's John Tucker joins US with

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Speaker 4: the latest.

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Speaker 8: John and Nathan, prosecutor say Left us explosive tweets about

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Speaker 8: dozens of companies to illegally influence their shares and make

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Speaker 8: a quick profit. They say earned more than twenty million

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Speaker 8: dollars from such trades. Life gained a huge online following

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Speaker 8: with his blunt commentary about major US companies as well

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Speaker 8: as the smaller stocks popular with retail traders. A federal

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Speaker 8: jury found him guilty on thirteen of seventeen counts. He'll

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Speaker 8: be sentence August thirty first, and faces more than twenty years.

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Speaker 8: The conviction may have a chilling impact on short sellers.

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Speaker 8: You know, York Im John Tucker, Bloomberg Radio.

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Speaker 2: All right, John, thank you. In company news, Alphabet is

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Speaker 2: putting together one of the largest equity deals of all

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Speaker 2: time to fund its new AI spending plans. Google's parent

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Speaker 2: company plans to raise eighty billion dollars through selling shares

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Speaker 2: both to the market and to Berkshire Hathaway Bloomberg Intelligences

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Speaker 2: Mandy Singh says the economics of the AI business have

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Speaker 2: pushed Alphabet to raise more cash.

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Speaker 9: Unlike a Microsoft or a Meta that have to buy

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Speaker 9: those chips from Nvidia and pay those you know, seventy

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Speaker 9: five percent growth margins, Alphabet is all using its own

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Speaker 9: chips and even in Tropic has trained its model and

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Speaker 9: uses TPUs even for inferencing. So from that perspective, Alphabet

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Speaker 9: is a competitor to an opening and end topic. It

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Speaker 9: is also a competitor to Nvidia on the chip side.

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Speaker 2: Bloomberg Intelligence is man Deep Singh says the Alphabet transactions

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Speaker 2: include a ten billion dollar deal with Berkshare and shares

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Speaker 2: of Alphabet. They're down two points seven percent this morning.

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Speaker 4: Well futures overall carender lower following eight straight days of

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Speaker 4: gains on Wall Street, but shares of Hewlett Packard Enterpriser

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Speaker 4: soaring more than twenty four percent. HPE is one of

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Speaker 4: the largest makers of computing equipment. It's outlook for annual

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Speaker 4: sales topped estimates. The company cited massive growth in AI

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Speaker 4: fueled demand for its servers and networking. Wu Jinho covers

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Speaker 4: HPE from Bloomberg Intelligence.

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Speaker 3: It's acceleration of growth.

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Speaker 10: If I look at what the applied guidance is going

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Speaker 10: into the fiscal third quarter, you know, it looks like

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Speaker 10: revenues are going to grow at twenty nine percent, and

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Speaker 10: then going into the fiscal fourth quarter, sales are going

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Speaker 10: to grow roughly about thirty percent.

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Speaker 3: So you know, it's just getting faster.

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Speaker 4: Wi Jinhell Bloomberg Intelligence says HPE's earnings follow blowout results

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Speaker 4: last week from competitor Dell Technologies.

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Speaker 2: Well on the flip side, Nathan in Europe, shares of

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Speaker 2: Abbavacs they're plunging almost thirty percent. The French biotech company

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Speaker 2: reported cancer cases in a crucial clinical trial for its

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Speaker 2: experimental inflammatory vowel disease drug. Time now for look at

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Speaker 2: some of the other stories making news in New York

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Speaker 2: and around the world. And for that we're joined by

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Speaker 2: Bloomberg's and Michael Barr Michael Good Morning.

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Speaker 11: Good Morning Care and hundreds of demonstrators in central Kenya

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Speaker 11: marched Monday in protest of the US Abola quarantine center

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Speaker 11: near the Lakopea Airbase. It comes as the number of

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Speaker 11: abola cases continues to grow. This woman says no one,

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Speaker 11: including the President of Kenya, even took into account a

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Speaker 11: nearby primary school when quarantining any potentially infected persons.

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Speaker 9: Didn't even consider that as Carol, what about how what

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Speaker 9: happens and what goes around in the batrucharia or the

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Speaker 9: equipe at this company.

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Speaker 11: Reported cases in the affected areas are believed to be

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Speaker 11: more than a thousand, but Doctors without Borders says the

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Speaker 11: reality is that nobody knows the true scale and severity

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Speaker 11: of the outbreak. Authorities in Muscatine, Iwa say six people

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Speaker 11: were killed in shootings at three separate locations, all by

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Speaker 11: the same gunman. Police say the suspect, fifty two year

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Speaker 11: old Ryan Willis McFarlane, died by suicide. Muscatine Police chief

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Speaker 11: Tony kuys.

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Speaker 8: Our community is mourning the family and the friends of

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Speaker 8: the McFarland family, the Whitlow family, and the Harris families.

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Speaker 11: Chief Guy says the shooting apparently stem from a domestic

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Speaker 11: dispute and all victims are believed to be family members

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Speaker 11: of the deceased. Ukrainian authorities say Russia attack the country

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Speaker 11: with a barrage of missiles and drones overnight, killing at

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Speaker 11: least eleven people, injuring dozens and trapping others. The head

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Speaker 11: of Kiev's military administrations as at least four people were

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Speaker 11: killed in fifty eight were injured in Kiev alone. Ukrainian

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Speaker 11: President Vlodomiro Loznskis has born that recently the Russian preparing

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Speaker 11: to renewed attacks, have pressed allies for more air defense

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Speaker 11: missiles to counter Russia's missile attacks. Global News twenty four

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Speaker 11: hours a day and whenever you want it with Bloomberg

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Speaker 11: News Now Michael Barr and this is Bloomberg Herry.

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Speaker 6: Well, thanks Michael.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash Houerd.

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Speaker 3: Thanks Karen.

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Speaker 12: Big news in the NFL, none bigger than the Cleveland

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Speaker 12: Browns trading Miles Garrett to the La Rams. All Garrett

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Speaker 12: did last season was set the NFL record for sax

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Speaker 12: of the season with twenty three. The Browns and returngate

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Speaker 12: linebacker Jared Versus three draft picks as expected, wide receiver

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Speaker 12: aj Brown goes from Philadelphia to New England for two

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Speaker 12: draft picks. Forty four year old Serena Williams coming out

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Speaker 12: of a four year long retirement. She'll play doubles at

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Speaker 12: the upcoming grass Court tournament in England. It may lead

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Speaker 12: to her point at Wimbledon. That's a Bloomberg Sports update.

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Speaker 3: Stay with us.

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Speaker 2: More from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius Exam

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 4: Good morning, I'm Nathan Hager. The fighting between Israel and

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Speaker 4: Hesbola and Lebanon has emerged as a key sticking point

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Speaker 4: in peace negotiations between the US and Iran, and now

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Speaker 4: differing accounts of a call between President Trump and Israeli

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Speaker 4: Prime Minister Benjamin d'atanyahu are adding to the complications. Joining

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Speaker 4: us for more on this as Mark Champion, who covers

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Speaker 4: the Middle East for Bloomberg Opinion Mark, we saw a

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Speaker 4: post from President Trump saying he convinced Israel to turn

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Speaker 4: its troops around after his call with d'antan Yahoo, but

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Speaker 4: data Yaho's saying that Israel will continue with attacks if

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Speaker 4: Hesbola keeps going after his country. How should we read

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Speaker 4: all this this morning?

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Speaker 13: Good morning morning, Well, I mean, in essence, you know,

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Speaker 13: this is the third time when Israeli sees it in

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Speaker 13: its national interests to continue the war against Iran, has

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Speaker 13: intervened in Lebanon at a moment when the US in

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Speaker 13: Iran appeared to be approaching some kind of deal in

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Speaker 13: one case of ceasefire, in two cases now some you know,

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Speaker 13: sort of wider deal. So this is now the third

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Speaker 13: time each time they've hit Bear Route, which the Iranians

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Speaker 13: have made clear is a red line for them. And

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Speaker 13: again the Iranians have said that they are you know,

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Speaker 13: cutting off then their kind of back channel talks with

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Speaker 13: the United States, and you know, we're we're basically in

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Speaker 13: a three way negotiation in which you know, it's clear

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Speaker 13: that President Trump and the US want a way out

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Speaker 13: of the war. The Iranians are looking for the best

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Speaker 13: deal they can get, and Israel is very uncerta and

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Speaker 13: that that would be in its interests.

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Speaker 4: And I'm sure you saw the report this morning as

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Speaker 4: well from one of the semi official news agencies in

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Speaker 4: Iran that it's reviewing a final text of a memorandum

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Speaker 4: of understanding. How should we take this? Is it a

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Speaker 4: final offer from Iran? Is there room for further talks? Yeah,

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Speaker 4: we've been through this before.

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Speaker 13: The US submits proposals, the Iranians send them back. On

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Speaker 13: this occasion, you know, President Trump on Friday made some

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Speaker 13: amendments that he wanted to the texts that have been

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Speaker 13: given to him that went back to the Iranians. The

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Speaker 13: Iranians now looking at Theirs. In the meantime, another report

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Speaker 13: on an Iranian state agency said that they're cutting off talks.

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Speaker 13: I mean, this is a dance that we've been around

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Speaker 13: several times before. President Trump says, you know, sit back, relax,

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Speaker 13: it'll all end.

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Speaker 11: Well.

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Speaker 13: Markets seem to believe that that ultimately the only way

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Speaker 13: for this end to end is in some kind of

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Speaker 13: a deal. But you know, there's a lot of noise

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Speaker 13: that comes in between.

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Speaker 3: And you mentioned three way talks.

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Speaker 4: Does Israel need to be more directly involved in the

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Speaker 4: discussions between the US and iran Is.

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Speaker 3: Is that something that could happen. I think that's unlikely.

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Speaker 13: It's unlikely that the Iranians or the Israelis would be

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Speaker 13: willing to get into direct talks, you know, sort of

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Speaker 13: publicly acknowledged direct talks.

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Speaker 3: So I think that's somewhat unlikely.

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Speaker 13: But what we are likely to see is, you know,

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Speaker 13: what we have throughout, which is that you know, the

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Speaker 13: Iranians and the h and the Americans trying to come

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Speaker 13: to some kind of deal to reopen the straight of

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Speaker 13: Horne movees and the fighting and get back on track

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Speaker 13: for some you know, negotiation of the various files nuclear

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Speaker 13: Fund in particular that the US wants to see, you know, changed.

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Speaker 13: And and in the meantime, the Israelis, you know, are

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Speaker 13: very concerned that they will end up with a bad deal,

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Speaker 13: one that leaves the Iranians in power and able to

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Speaker 13: continue the various uses of pressure on Israel, either through

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Speaker 13: Lebanon and Hesbola or through Hamas in Gaza Board directly.

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