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

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Speaker 1: Denise Pelgriney. We begin in Texas, where Governor Greg Abbott

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Speaker 1: has ordered the arrest of Democratic lawmakers who left the

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Speaker 1: state to block a controversial vote on new congressional maps.

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Speaker 1: Those Democrats left Texas for Illinois and other states. They

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Speaker 1: say the GOP map is a partisan power grab and

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Speaker 1: that Abbott has no legal grounds. Their departure leaves the

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Speaker 1: legislature without a voting quorum. Julie Fine, Bloomberg's Texas Bureau chief,

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Speaker 1: is tracking developments.

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Speaker 2: Texas Republicans who remain in the state actually went to

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Speaker 2: the House. They did not have a quorum, and they

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Speaker 2: started the process there. There was a motion that compels

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Speaker 2: the Sergeant of Arms to have arrest warrants for the

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Speaker 2: Democrats that are not in the state.

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Speaker 1: Bloomberg's duly Fine reporting from Dallas. The arrest warrants fall

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Speaker 1: to the Texas Department of Public Safety. The jurisdiction ends

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Speaker 1: at the state border for that though, Abbot's move escalates

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Speaker 1: the standoff with Democrats, who describe the plan as a

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Speaker 1: jerrymander designed to give Republicans more seats in Congress. Meantime,

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Speaker 1: Missouri Republicans are considering a redistricting plan similar to the

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Speaker 1: one in Texas. The President Trump is pushed to bolster

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Speaker 1: GOP chances, and on the other hand, California Democrats are

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Speaker 1: vowing to fight fire with fire, pushing a plan to

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Speaker 1: redraw the state's congressional boundaries to counter the Republican redistricting

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Speaker 1: effort in Texas if necessary. The Justice Department is opened

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Speaker 1: a criminal investigation into claims national security officials participated in

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Speaker 1: a conspiracy to link President Trump to Russia's election interference

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Speaker 1: and undermine his legitimacy. Director of National Intelligence Telsey Gabbert

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Speaker 1: claims officials working under former President Obama manufactured and politicized

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Speaker 1: intelligence to lay the groundwork for what was essentially a

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Speaker 1: year's long coup against President Trump. The Justice Department's investigation

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Speaker 1: will use a grand jury. It's not clear what actions

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Speaker 1: are under investigation or where the case will be presented.

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Speaker 1: President Trump says he'll be substantially raising the tariff on

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Speaker 1: Indian exports to the US that he says is over

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Speaker 1: New Delhi's purchases of Russian oil, ramping up his threat

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Speaker 1: to target a major trading partner we get the latest

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Speaker 1: from Bloomberg's Jill Deesis in Hong Kong.

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Speaker 3: Really quite a reversal from just earlier this year, when

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Speaker 3: India was one of the first out of the gate

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Speaker 3: to try to negotiate something with the US. We saw,

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Speaker 3: you know, Mody and Trump meet, you know, obviously a

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Speaker 3: much different situation now, and it really does kind of

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Speaker 3: seem to be in large part driven by Trump's desire

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Speaker 3: to really kind of drive an end to Russia's war

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Speaker 3: in Ukraine.

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Speaker 1: Bloomberg's Jill Jesus reporting. Last week, President Trump slapped a

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Speaker 1: twenty five percent rate on Indian exports, shocking New Delhi

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Speaker 1: after months of negotiations failed to secure a breakthrough. He

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Speaker 1: also threatened further action if India continued to buy oil

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Speaker 1: from Russia. In a statement, India's Foreign Ministry calls the

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Speaker 1: targeting of its nation quote unjustified and unreasonable. We got

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Speaker 1: to earnings next after the Palantine Technologies reporting a forty

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Speaker 1: eight percent jump in second quarter revenue to over a

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Speaker 1: billion dollars, topping Wall Street estimates. Palenter also raising its

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Speaker 1: full year outlook to as much as four point one

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Speaker 1: five billion dollars. MANDEEP seeing global head of Tech Research

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Speaker 1: for Bloomberg Intelligence.

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Speaker 4: They are growing nicely into that valuation. When you are

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Speaker 4: growing forty eight percent in the quarter, it's very nice,

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Speaker 4: but you have to sustain that for fifty next fifty

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Speaker 4: quarters to be able to get to you know, fifteen

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Speaker 4: time sales, which is a much more reasonable valuation software.

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Speaker 1: Evaluation mandeep Seing of Bloomberg Intelligence. There Palenter CEO Alex

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Speaker 1: Karp says breakthroughs in large language models and demand from

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Speaker 1: defense and commercial clients is fueling that momentum. Palenter says

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Speaker 1: growth was particularly strong in the US, where sales jump

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Speaker 1: sixty eight percent to seven hundred and thirty three million

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Speaker 1: bucks shares a pal Andeer up about four percent in

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Speaker 1: late trading and sticking with tech, the US is exploring

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Speaker 1: ways to equip chips with better location tracking capabilities. That's

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Speaker 1: according to Michael Kratzios, the director of the White House

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Speaker 1: Office of Science and Technology. He spoke earlier to Bloomberg.

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Speaker 5: There's been an effort by our Commerce Department to step

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Speaker 5: up enforcement and something that we need to continue to

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Speaker 5: do more of. Smuggling is illegal, and we need to

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Speaker 5: make sure that any country around the world that has

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Speaker 5: an export license for a particular chip, adheres to that license,

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Speaker 5: and those chips don't end up in places they shouldn't.

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Speaker 1: Michael Kratzios is the director of the White House Office

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Speaker 1: of Science and Technology. The initiative part of a broader

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Speaker 1: plan to curtail smuggling and maintain US tech dominance by

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Speaker 1: working with the industry to monitor the movement of sensitive components.

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Speaker 1: And that's news when you want it with Bloomberg News now,

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Speaker 1: I'm Dediz Pellegrini. This is Bloomberg