Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today. Karen, we begin with
Speaker 2: the latest on the war with Iran. Local media reports
Speaker 2: say Iran is seeking to bar US and Israeli ships
Speaker 2: from the Strait of Horror Moves under a deal with Oman,
Speaker 2: and to require compensation from hostile countries before they're allowed
Speaker 2: to use the waterway. That comes as the Iran affiliated
Speaker 2: Fars News agency says the country's naval forces struck hostile
Speaker 2: targets at the entrance to the Strait. President Trump says
Speaker 2: the US is continuing negotiations and the strait is, in
Speaker 2: his words, sort of open.
Speaker 3: Right now.
Speaker 4: We have a thing called the blockade headed up by
Speaker 4: the US Navy, and we control it. And now we
Speaker 4: control it. But they can always shoot something. They always
Speaker 4: have something or drop of mind, and if you have
Speaker 4: one mind setting out there sort of mess things up
Speaker 4: because people don't want to take the billion dollar votes
Speaker 4: and accidentally get hit by a mind. But I think
Speaker 4: we're doing very well. I just you know, I'm involved
Speaker 4: in the negotiation.
Speaker 5: I think we're doing I speaking to reporters in the
Speaker 5: Oval Office. President Trump said the strait could be open soon.
Speaker 2: Meanwhile, Nathan, the US is insisting on free transit through
Speaker 2: this strait and a broad return to the pre war
Speaker 2: status quo. Richard Hass, President Emeritus of the Council on
Speaker 2: Foreign Relations, says Iran retains a strong negotiating position if
Speaker 2: the goal is to.
Speaker 6: Get the Strait of Hormones open, which it should be.
Speaker 6: The idea that Iran would have a larger role now
Speaker 6: that I think is inevitable. Wars of consequences. Will have
Speaker 6: to let them sell some oil as long as most
Speaker 6: of the other sanctions stay in place. I think that's
Speaker 6: probably as good as we can expect at this point.
Speaker 2: And Richard Hass was a guest on Bloomberg's Balance of
Speaker 2: Power Around, says a full reopening of the strait would
Speaker 2: require the US to lift its maritime blockade. The US
Speaker 2: is not indicated whether it's ready to go back to
Speaker 2: the terms of the initial interim deal with Iran.
Speaker 5: Well, Karen Oil is extending its gains on all this news.
Speaker 5: Brent crude rose above eighty three dollars a barrel, after
Speaker 5: gaining almost four percent in the previous session. Right now,
Speaker 5: Brent has pulled back a bit from that level. It's
Speaker 5: at eighty two eighty seven again of about a half percent.
Speaker 5: West Texas Intermediate it's at seventy seven to fifty eight
Speaker 5: a barrel. That's a gain of four tenths of one percent.
Speaker 5: Paul Sankee with Sankeie Research tells Bloomberg. Banning large flare
Speaker 5: ups in the Middle East, oil should pull back.
Speaker 7: I would say that the situation in the Straits is
Speaker 7: normalizing and we basically have enough oil now, so I
Speaker 7: think markets are going to calm down somewhat unless there's
Speaker 7: another major conflagration. But the reality is the US has
Speaker 7: run out of bombs pretty much, so I think that
Speaker 7: the actual kinetic part of the war is hopefully mostly
Speaker 7: behind us, with one major front remaining, which is the
Speaker 7: Hooties against the Saudis and the Iraqi she is against
Speaker 7: the Saudis.
Speaker 5: Those comments from Paul Sankie of Sanki Research come as
Speaker 5: Hoothi militants launched an attack against jem and Saudi backed government,
Speaker 5: claiming hundreds of deaths.
Speaker 2: Well here in the US, Nathan Sources tell Bloomberg that
Speaker 2: Trump administration is considering issuing an executive Order on Vaccines
Speaker 2: and Autism as soon as next week. Administration officials are
Speaker 2: discussing options, including research initiatives that encompass both forward looking
Speaker 2: studies and backward looking analysis. President Trump has previously pushed
Speaker 2: a pair down the number of vaccines recommended for children.
Speaker 2: Scientific evidence has shown no link between autism and childhood vaccines,
Speaker 2: and decades of research has failed to identify a single
Speaker 2: cause of autism. Well.
Speaker 5: Meantime, Karen, President Trump has already signed a pair of
Speaker 5: other executive orders. So these are aimed at denying citizenship
Speaker 5: to certain people born in the US. So we get
Speaker 5: that story from Bloomberg's Amy Morris.
Speaker 1: In Washington, White House Deputy Chief of Staff Stephen Miller says,
Speaker 1: one order targets so called birth tourism.
Speaker 8: The idea that people come here pretend to be a tourist,
Speaker 8: pretend to.
Speaker 9: Be a visitor, but the real reason they're here is
Speaker 9: to have.
Speaker 8: A child, to make that childage an automatic sits and
Speaker 8: leave our country and then have a US citizen child.
Speaker 8: It gives them access out of this broken system, to
Speaker 8: welfare benefits, ultimately to the voting booth.
Speaker 1: Those born to people deemed to be alien enemies, foreign terrorists,
Speaker 1: and foreign agents would also be ineligible. The orders are
Speaker 1: almost certain to be challenged in court as a violation
Speaker 1: of the Fourteenth Amendment. In Washington, Amy Morris Bloomberg Radio.
Speaker 2: All right, Amy, thank you, Let's go to markets now.
Speaker 2: In the historic US joint intervention to help prop up
Speaker 2: Japan's currency is having a limited impact, and now more
Speaker 2: action may be needed. We get an update with Bloomberg's
Speaker 2: John Tucker. John, Good morning, Good.
Speaker 10: Morning, Karen. The Japanese in has now surrendered nearly half
Speaker 10: of its intervention driven gainst. Bloomberg FX rates specialist David
Speaker 10: Finnerty says they can intervene all they want. At the
Speaker 10: end of the day, it's the fundamentals that drive things.
Speaker 7: The fact that Donian is back about one fifty eight,
Speaker 7: it just says a lot to the fundamentals.
Speaker 9: You can say shouldn't be there.
Speaker 4: The book is going, but it is, and it is
Speaker 4: that because we think.
Speaker 9: It should be that well.
Speaker 10: Traders now think authorities may have to intervene again. But
Speaker 10: all this may be just a band aid if Japan
Speaker 10: doesn't swallow a tough pill and raise the interest rates
Speaker 10: and raise them more quickly. Another wrinkle at all. This
Speaker 10: is how the US helped.
Speaker 6: It.
Speaker 10: Turns out, Treasure Secretary Scott Besson funded the intervention by
Speaker 10: selling euros well that is seen as an unprecedented breach
Speaker 10: of long standing convention with Europe. New York IM John Tucker,
Speaker 10: Bloomberg Radio Nathan.
Speaker 2: There are new questions this morning about the guardrails around
Speaker 2: artificial intelligence. The Chinese firm Moonshot's latest AI model broke
Speaker 2: out of its cyber testing environment as according to researchers
Speaker 2: at US based Frontier Security. They say the Kimney K
Speaker 2: three model managed to find its way out of a
Speaker 2: sandbox from the UK government's AI Security Institute. The researchers
Speaker 2: say K three did not try to breach other companies websites,
Speaker 2: but the test shows it lacks cyber controls now.
Speaker 5: Back in the US, Karen Meta Platforms has been ordered
Speaker 5: to pay five hundred and sixty seven mills million dollars
Speaker 5: to New Mexico and to make changes to protect underage
Speaker 5: users after losing a landmark court case. The judge likened
Speaker 5: Meta to a polluting factory and ordered measures like time
Speaker 5: limits and an end tonight time push notifications to minors.
Speaker 5: Meta plans to appeal. It's total exposure in the New
Speaker 5: Mexico case now stands at more than nine hundred million dollars.
Speaker 2: And Nathan, we're getting a first look at OpenAI's first
Speaker 2: consumer device. Sources say the display free smart speaker will
Speaker 2: look like a donut about the size of a hockey puck,
Speaker 2: and come with moving parts to help give it personality.
Speaker 2: The device is also likely to come with a more
Speaker 2: than three hundred dollars price tag when it comes out
Speaker 2: next year. We're told open ai plans to position the
Speaker 2: device as an AI first computer that can help get things.
Speaker 5: Done, and you can help shape our conversations. Here on
Speaker 5: Bloomberg Radio, We've got a new feature exclusively for Bloomberg
Speaker 5: dot com subscribers and terminal clients. You can submit questions
Speaker 5: to our analysts and experts to answer live on air.
Speaker 5: If you are a subscriber, cod to Bloomberg dot com
Speaker 5: slash Ask Radio to send in your questions and tune
Speaker 5: back because you might hear the mask on our shows.
Speaker 5: That's Bloomberg dot Com slash Ask Radio.
Speaker 2: Time now for look at some of the other stories
Speaker 2: making news in New York and around the world, And
Speaker 2: for that We're joined by Bloomberg's Michael Barr Michael, good Morning, Good.
Speaker 3: Morning, Karen. New York City and much of the Northeast
Speaker 3: is under a heat advisory until at least eight pm Saturday.
Speaker 3: Temperatures are expected to hit ninety degrees today in the city,
Speaker 3: but the bigger problem is the humidity making it feel
Speaker 3: like it's One Hundred families whose relatives fell ill or
Speaker 3: died during an outbreak of Legionnaire's disease last year in
Speaker 3: Harlem are suing New York City. They say the cooling
Speaker 3: towers at two city owned sites had spewed dangerous bacteria.
Speaker 3: Civil rights attorney Ben Crump is representing the patients.
Speaker 11: Accountability is essential not only to provide justice for those
Speaker 11: who were homed, but to ensure that a tragedy like
Speaker 11: this never happens in Harlem or anywhere else in New
Speaker 11: York in the future.
Speaker 3: Seven people died in the August twenty twenty five outbreak,
Speaker 3: and one hundred and eighteen were sickened. Congressman Rob Mendez
Speaker 3: of New Jersey says another death is connected to a
Speaker 3: detention center in Newark. It is the third death at
Speaker 3: Delaney Hall and the second in a month, fellow Democratic
Speaker 3: New Jersey Senator Corey Booker called on Congress to shut
Speaker 3: it down.
Speaker 12: I'm now asking for a unanimous consent to pass the
Speaker 12: Delaney Hall Closure Act, which will close Delaney Hall within
Speaker 12: ninety days. They're out of excuses, we are out of time.
Speaker 12: How many more people should die?
Speaker 3: The latest death is believed to have happened two weeks
Speaker 3: ago when the detainee had a seizure. Primaries were held
Speaker 3: in Tennessee. Incumbent Congressman Andy Ogles and of President Trump,
Speaker 3: lost his Republican primary to former state agriculture Commissioner Charlie Hatcher.
Speaker 3: Hatcher got fifty three percent of the vote compared to
Speaker 3: Ogle's forty seven. He faces off against Democrat Chas Molder
Speaker 3: in November. Another Trump ally, Senator Marcia Blackburn, won the
Speaker 3: state's GOP primary for governor, defeating Representative John Rose forty
Speaker 3: three to thirty three percent. Blackburn faces Democrat Jerry Green,
Speaker 3: a Memphis councilwoman. This fall Global News twenty four hours
Speaker 3: a day and whenever you want it with Bloomberg News
Speaker 3: Now Michael Barr and this is Bloomberg.
Speaker 2: Karen Well, thanks Michael, all time now for our Bloomberg
Speaker 2: Sports Update, and for that we bring in John stash Houerd.
Speaker 13: That's been amazing what's been going on in Boston with
Speaker 13: the Red Hot Red Sox. They've won twenty six of
Speaker 13: their last twenty nine games, thirty one of thirty eight.
Speaker 13: They beat the White Sox twelve to eleven and thirteen innings.
Speaker 13: The Red Sox tied the game in the nineth inning,
Speaker 13: then the tenth, the eleventh, and the twelve.
Speaker 3: They won the game.
Speaker 13: In the thirteenth preseason football the Hall of Fame game
Speaker 13: in Canton, Ohio won by Carolina thirty three to thirty
Speaker 13: over Arizona into the Hall tomorrow. Go Drew Brees, Larry Fitzgerald,
Speaker 13: Adam Vinatieri, Roger Craig, Luke Eekley that the Bloomberg's worth fifty.
Speaker 2: Stay with us. More from Bloomberg Daybreak coming up after this.
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 5: Good morning, I'm Nathan Hager. A deal to reopen the
Speaker 5: Strait of Horn moves, maybe leaving the US out Iranian
Speaker 5: remedia reports that Iran will try to keep US and
Speaker 5: Israeli ships out of the Strait. President Trump, though, says
Speaker 5: the US is already in control.
Speaker 4: We have a thing called the blockade, headed up by
Speaker 4: the US Navy, and we control it. And uh now
Speaker 4: we control it. But they can always shoot something. They
Speaker 4: always have something or drop of mind.
Speaker 5: I was President Trump speaking in the Oval Office, joining
Speaker 5: us from Jerusale this morning is Bloomberg News reporter Dan
Speaker 5: Williams and Dan, if these reports hold up, it sounds like,
Speaker 5: rather than coming to a compromise, that the demands around
Speaker 5: the Strait of fore moves are getting more maximalist. What
Speaker 5: do we know about what's happening with this potential deal?
Speaker 5: Good morning, Hi, Good morning here, Nathan.
Speaker 9: We know that for going on seventy two hours now,
Speaker 9: we've been expecting this deal imminently imminent has proved to
Speaker 9: be not so imminent, and as you've noted, there are
Speaker 9: conditions being piled on, at least publicly. The question is
Speaker 9: this latest condition by Iran how practical? What sort of
Speaker 9: impact would it have on the ground or more precisely,
Speaker 9: on the water, is really Flagships have pretty much not
Speaker 9: been anywhere near or moves during this war. They've already
Speaker 9: thinned out their presence such as it was well ago.
Speaker 9: US flagships in terms of US flagships not necessarily or
Speaker 9: in cargo for the United States are also fairly rare,
Speaker 9: So it could be that the will not have a
Speaker 9: practical price. However, in terms of prestige, it's kind of
Speaker 9: a blow. It's really egging the face of the US President,
Speaker 9: who has you noted, is talking up this allegedly imminent
Speaker 9: deal in his own right. Very hard to know where
Speaker 9: things stand. Is worth remembering that from the outset we
Speaker 9: weren't even clear if this is a bilateral conversation between
Speaker 9: the foes, the United States and Iran. Iran always insisted
Speaker 9: it was talking to Oman who was serving as kind
Speaker 9: of a proxy or a mediator for the US. Here
Speaker 9: Iran is presented this as a bilateral deal. So really,
Speaker 9: in terms of the basic fundamental structure of this negotiations,
Speaker 9: there's disagreement. Hard to know how a peaceable deal might emerge.
Speaker 5: Just about a minute left here unfortunately, Dan, But does
Speaker 5: it look like a return to the pre war status
Speaker 5: quo in the Strait is just out the window at
Speaker 5: this point.
Speaker 9: I think a pre war status quo in terms of
Speaker 9: Hormuz would be very satisfactory to Trump. Keep in mind
Speaker 9: that even if there is a returned to that, Iran
Speaker 9: would certainly not return to the pre war status quo
Speaker 9: given the damage inflicted on it during the war, and
Speaker 9: I think both Israel and the United States would try
Speaker 9: to spin that resolution in their favor in terms of
Speaker 9: having delivered that blow. The Iranians are clearly aware of this,
Speaker 9: So what they're trying to do is exact compensation indirectly
Speaker 9: through the tolls or the tributes or if you like,
Speaker 9: the service charges that they want to exact from shipping
Speaker 9: that would come through Hall Moves in the event of
Speaker 9: a deal there. Apparently one of the things holding up
Speaker 9: is disagreement over the degree to which the Ranians could
Speaker 9: exact that's that kind of toll, how much money, and
Speaker 9: whether they'd also be able to inspect pargo on ships
Speaker 9: that they would have inspection rights over should there be
Speaker 9: such a resolution, such a deal for he Moves.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
Speaker 2: making news from Wall Street to Washington and beyond.
Speaker 5: Look for us on your podcast feed by six am
Speaker 5: Eastern each morning on Apple, Spotify, or or anywhere else
Speaker 5: you listen.
Speaker 2: You can also listen live each morning starting at five
Speaker 2: am Wall Street Time on Bloomberg eleven three to zero
Speaker 2: in New York, Bloomberg in ninety nine to one in Washington,
Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious
Speaker 2: XM Channel one twenty one.
Speaker 5: Plus listen coast to coast on the Bloomberg Business app
Speaker 5: now with Apple CarPlay and Android Atto interfaces.
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's
Speaker 2: the latest news whenever you want it in five minutes
Speaker 2: or less. Search Bloomberg News Now on your favorite podcast
Speaker 2: platform to stay informed all day long.
Speaker 5: I'm Karen Moscow and I'm Nathan Hager. Join us again
Speaker 5: tomorrow morning for all the news you need to start
Speaker 5: your day right here on Bloomberg Day Ray