WEBVTT - Iran Wants to Bar Ships From Hormuz; Trump Considers Order on Autism

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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. Karen, we begin with

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<v Speaker 2>the latest on the war with Iran. Local media reports

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<v Speaker 2>say Iran is seeking to bar US and Israeli ships

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<v Speaker 2>from the Strait of Horror Moves under a deal with Oman,

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<v Speaker 2>and to require compensation from hostile countries before they're allowed

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<v Speaker 2>to use the waterway. That comes as the Iran affiliated

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<v Speaker 2>Fars News agency says the country's naval forces struck hostile

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<v Speaker 2>targets at the entrance to the Strait. President Trump says

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<v Speaker 2>the US is continuing negotiations and the strait is, in

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<v Speaker 2>his words, sort of open.

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<v Speaker 3>Right now.

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<v Speaker 4>We have a thing called the blockade headed up by

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<v Speaker 4>the US Navy, and we control it. And now we

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<v Speaker 4>control it. But they can always shoot something. They always

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<v Speaker 4>have something or drop of mind, and if you have

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<v Speaker 4>one mind setting out there sort of mess things up

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<v Speaker 4>because people don't want to take the billion dollar votes

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<v Speaker 4>and accidentally get hit by a mind. But I think

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<v Speaker 4>we're doing very well. I just you know, I'm involved

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<v Speaker 4>in the negotiation.

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<v Speaker 5>I think we're doing I speaking to reporters in the

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<v Speaker 5>Oval Office. President Trump said the strait could be open soon.

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<v Speaker 2>Meanwhile, Nathan, the US is insisting on free transit through

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<v Speaker 2>this strait and a broad return to the pre war

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<v Speaker 2>status quo. Richard Hass, President Emeritus of the Council on

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<v Speaker 2>Foreign Relations, says Iran retains a strong negotiating position if

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<v Speaker 2>the goal is to.

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<v Speaker 6>Get the Strait of Hormones open, which it should be.

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<v Speaker 6>The idea that Iran would have a larger role now

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<v Speaker 6>that I think is inevitable. Wars of consequences. Will have

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<v Speaker 6>to let them sell some oil as long as most

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<v Speaker 6>of the other sanctions stay in place. I think that's

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<v Speaker 6>probably as good as we can expect at this point.

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<v Speaker 2>And Richard Hass was a guest on Bloomberg's Balance of

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<v Speaker 2>Power Around, says a full reopening of the strait would

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<v Speaker 2>require the US to lift its maritime blockade. The US

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<v Speaker 2>is not indicated whether it's ready to go back to

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<v Speaker 2>the terms of the initial interim deal with Iran.

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<v Speaker 5>Well, Karen Oil is extending its gains on all this news.

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<v Speaker 5>Brent crude rose above eighty three dollars a barrel, after

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<v Speaker 5>gaining almost four percent in the previous session. Right now,

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<v Speaker 5>Brent has pulled back a bit from that level. It's

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<v Speaker 5>at eighty two eighty seven again of about a half percent.

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<v Speaker 5>West Texas Intermediate it's at seventy seven to fifty eight

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<v Speaker 5>a barrel. That's a gain of four tenths of one percent.

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<v Speaker 5>Paul Sankee with Sankeie Research tells Bloomberg. Banning large flare

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<v Speaker 5>ups in the Middle East, oil should pull back.

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<v Speaker 7>I would say that the situation in the Straits is

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<v Speaker 7>normalizing and we basically have enough oil now, so I

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<v Speaker 7>think markets are going to calm down somewhat unless there's

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<v Speaker 7>another major conflagration. But the reality is the US has

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<v Speaker 7>run out of bombs pretty much, so I think that

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<v Speaker 7>the actual kinetic part of the war is hopefully mostly

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<v Speaker 7>behind us, with one major front remaining, which is the

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<v Speaker 7>Hooties against the Saudis and the Iraqi she is against

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<v Speaker 7>the Saudis.

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<v Speaker 5>Those comments from Paul Sankie of Sanki Research come as

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<v Speaker 5>Hoothi militants launched an attack against jem and Saudi backed government,

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<v Speaker 5>claiming hundreds of deaths.

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<v Speaker 2>Well here in the US, Nathan Sources tell Bloomberg that

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<v Speaker 2>Trump administration is considering issuing an executive Order on Vaccines

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<v Speaker 2>and Autism as soon as next week. Administration officials are

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<v Speaker 2>discussing options, including research initiatives that encompass both forward looking

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<v Speaker 2>studies and backward looking analysis. President Trump has previously pushed

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<v Speaker 2>a pair down the number of vaccines recommended for children.

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<v Speaker 2>Scientific evidence has shown no link between autism and childhood vaccines,

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<v Speaker 2>and decades of research has failed to identify a single

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<v Speaker 2>cause of autism. Well.

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<v Speaker 5>Meantime, Karen, President Trump has already signed a pair of

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<v Speaker 5>other executive orders. So these are aimed at denying citizenship

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<v Speaker 5>to certain people born in the US. So we get

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<v Speaker 5>that story from Bloomberg's Amy Morris.

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<v Speaker 1>In Washington, White House Deputy Chief of Staff Stephen Miller says,

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<v Speaker 1>one order targets so called birth tourism.

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<v Speaker 8>The idea that people come here pretend to be a tourist,

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<v Speaker 8>pretend to.

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<v Speaker 9>Be a visitor, but the real reason they're here is

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<v Speaker 9>to have.

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<v Speaker 8>A child, to make that childage an automatic sits and

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<v Speaker 8>leave our country and then have a US citizen child.

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<v Speaker 8>It gives them access out of this broken system, to

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<v Speaker 8>welfare benefits, ultimately to the voting booth.

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<v Speaker 1>Those born to people deemed to be alien enemies, foreign terrorists,

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<v Speaker 1>and foreign agents would also be ineligible. The orders are

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<v Speaker 1>almost certain to be challenged in court as a violation

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<v Speaker 1>of the Fourteenth Amendment. In Washington, Amy Morris Bloomberg Radio.

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<v Speaker 2>All right, Amy, thank you, Let's go to markets now.

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<v Speaker 2>In the historic US joint intervention to help prop up

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<v Speaker 2>Japan's currency is having a limited impact, and now more

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<v Speaker 2>action may be needed. We get an update with Bloomberg's

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<v Speaker 2>John Tucker. John, Good morning, Good.

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<v Speaker 10>Morning, Karen. The Japanese in has now surrendered nearly half

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<v Speaker 10>of its intervention driven gainst. Bloomberg FX rates specialist David

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<v Speaker 10>Finnerty says they can intervene all they want. At the

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<v Speaker 10>end of the day, it's the fundamentals that drive things.

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<v Speaker 7>The fact that Donian is back about one fifty eight,

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<v Speaker 7>it just says a lot to the fundamentals.

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<v Speaker 9>You can say shouldn't be there.

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<v Speaker 4>The book is going, but it is, and it is

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<v Speaker 4>that because we think.

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<v Speaker 9>It should be that well.

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<v Speaker 10>Traders now think authorities may have to intervene again. But

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<v Speaker 10>all this may be just a band aid if Japan

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<v Speaker 10>doesn't swallow a tough pill and raise the interest rates

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<v Speaker 10>and raise them more quickly. Another wrinkle at all. This

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<v Speaker 10>is how the US helped.

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<v Speaker 6>It.

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<v Speaker 10>Turns out, Treasure Secretary Scott Besson funded the intervention by

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<v Speaker 10>selling euros well that is seen as an unprecedented breach

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<v Speaker 10>of long standing convention with Europe. New York IM John Tucker,

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<v Speaker 10>Bloomberg Radio Nathan.

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<v Speaker 2>There are new questions this morning about the guardrails around

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<v Speaker 2>artificial intelligence. The Chinese firm Moonshot's latest AI model broke

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<v Speaker 2>out of its cyber testing environment as according to researchers

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<v Speaker 2>at US based Frontier Security. They say the Kimney K

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<v Speaker 2>three model managed to find its way out of a

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<v Speaker 2>sandbox from the UK government's AI Security Institute. The researchers

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<v Speaker 2>say K three did not try to breach other companies websites,

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<v Speaker 2>but the test shows it lacks cyber controls now.

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<v Speaker 5>Back in the US, Karen Meta Platforms has been ordered

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<v Speaker 5>to pay five hundred and sixty seven mills million dollars

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<v Speaker 5>to New Mexico and to make changes to protect underage

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<v Speaker 5>users after losing a landmark court case. The judge likened

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<v Speaker 5>Meta to a polluting factory and ordered measures like time

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<v Speaker 5>limits and an end tonight time push notifications to minors.

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<v Speaker 5>Meta plans to appeal. It's total exposure in the New

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<v Speaker 5>Mexico case now stands at more than nine hundred million dollars.

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<v Speaker 2>And Nathan, we're getting a first look at OpenAI's first

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<v Speaker 2>consumer device. Sources say the display free smart speaker will

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<v Speaker 2>look like a donut about the size of a hockey puck,

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<v Speaker 2>and come with moving parts to help give it personality.

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<v Speaker 2>The device is also likely to come with a more

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<v Speaker 2>than three hundred dollars price tag when it comes out

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<v Speaker 2>next year. We're told open ai plans to position the

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<v Speaker 2>device as an AI first computer that can help get things.

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<v Speaker 5>Done, and you can help shape our conversations. Here on

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<v Speaker 5>Bloomberg Radio, We've got a new feature exclusively for Bloomberg

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<v Speaker 5>dot com subscribers and terminal clients. You can submit questions

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<v Speaker 5>to our analysts and experts to answer live on air.

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<v Speaker 5>If you are a subscriber, cod to Bloomberg dot com

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<v Speaker 5>slash Ask Radio to send in your questions and tune

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<v Speaker 5>back because you might hear the mask on our shows.

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<v Speaker 5>That's Bloomberg dot Com slash Ask Radio.

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<v Speaker 2>Time now for look at some of the other stories

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

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<v Speaker 2>for that We're joined by Bloomberg's Michael Barr Michael, good Morning, Good.

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<v Speaker 3>Morning, Karen. New York City and much of the Northeast

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<v Speaker 3>is under a heat advisory until at least eight pm Saturday.

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<v Speaker 3>Temperatures are expected to hit ninety degrees today in the city,

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<v Speaker 3>but the bigger problem is the humidity making it feel

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<v Speaker 3>like it's One Hundred families whose relatives fell ill or

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<v Speaker 3>died during an outbreak of Legionnaire's disease last year in

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<v Speaker 3>Harlem are suing New York City. They say the cooling

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<v Speaker 3>towers at two city owned sites had spewed dangerous bacteria.

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<v Speaker 3>Civil rights attorney Ben Crump is representing the patients.

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<v Speaker 11>Accountability is essential not only to provide justice for those

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<v Speaker 11>who were homed, but to ensure that a tragedy like

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<v Speaker 11>this never happens in Harlem or anywhere else in New

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<v Speaker 11>York in the future.

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<v Speaker 3>Seven people died in the August twenty twenty five outbreak,

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<v Speaker 3>and one hundred and eighteen were sickened. Congressman Rob Mendez

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<v Speaker 3>of New Jersey says another death is connected to a

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<v Speaker 3>detention center in Newark. It is the third death at

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<v Speaker 3>Delaney Hall and the second in a month, fellow Democratic

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<v Speaker 3>New Jersey Senator Corey Booker called on Congress to shut

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<v Speaker 3>it down.

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<v Speaker 12>I'm now asking for a unanimous consent to pass the

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<v Speaker 12>Delaney Hall Closure Act, which will close Delaney Hall within

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<v Speaker 12>ninety days. They're out of excuses, we are out of time.

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<v Speaker 12>How many more people should die?

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<v Speaker 3>The latest death is believed to have happened two weeks

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<v Speaker 3>ago when the detainee had a seizure. Primaries were held

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<v Speaker 3>in Tennessee. Incumbent Congressman Andy Ogles and of President Trump,

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<v Speaker 3>lost his Republican primary to former state agriculture Commissioner Charlie Hatcher.

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<v Speaker 3>Hatcher got fifty three percent of the vote compared to

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<v Speaker 3>Ogle's forty seven. He faces off against Democrat Chas Molder

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<v Speaker 3>in November. Another Trump ally, Senator Marcia Blackburn, won the

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<v Speaker 3>state's GOP primary for governor, defeating Representative John Rose forty

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<v Speaker 3>three to thirty three percent. Blackburn faces Democrat Jerry Green,

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<v Speaker 3>a Memphis councilwoman. This fall Global News twenty four hours

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<v Speaker 3>a day and whenever you want it with Bloomberg News

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<v Speaker 3>Now Michael Barr and this is Bloomberg.

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<v Speaker 2>Karen Well, thanks Michael, all time now for our Bloomberg

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<v Speaker 2>Sports Update, and for that we bring in John stash Houerd.

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<v Speaker 13>That's been amazing what's been going on in Boston with

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<v Speaker 13>the Red Hot Red Sox. They've won twenty six of

0:09:47.360 --> 0:09:50.600
<v Speaker 13>their last twenty nine games, thirty one of thirty eight.

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<v Speaker 13>They beat the White Sox twelve to eleven and thirteen innings.

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<v Speaker 13>The Red Sox tied the game in the nineth inning,

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<v Speaker 13>then the tenth, the eleventh, and the twelve.

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<v Speaker 3>They won the game.

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<v Speaker 13>In the thirteenth preseason football the Hall of Fame game

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<v Speaker 13>in Canton, Ohio won by Carolina thirty three to thirty

0:10:06.240 --> 0:10:09.880
<v Speaker 13>over Arizona into the Hall tomorrow. Go Drew Brees, Larry Fitzgerald,

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<v Speaker 13>Adam Vinatieri, Roger Craig, Luke Eekley that the Bloomberg's worth fifty.

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<v Speaker 2>Stay with us. More from Bloomberg Daybreak coming up after this.

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

0:10:26.720 --> 0:10:29.560
<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 5>Good morning, I'm Nathan Hager. A deal to reopen the

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<v Speaker 5>Strait of Horn moves, maybe leaving the US out Iranian

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<v Speaker 5>remedia reports that Iran will try to keep US and

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<v Speaker 5>Israeli ships out of the Strait. President Trump, though, says

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<v Speaker 5>the US is already in control.

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<v Speaker 4>We have a thing called the blockade, headed up by

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<v Speaker 4>the US Navy, and we control it. And uh now

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<v Speaker 4>we control it. But they can always shoot something. They

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<v Speaker 4>always have something or drop of mind.

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<v Speaker 5>I was President Trump speaking in the Oval Office, joining

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<v Speaker 5>us from Jerusale this morning is Bloomberg News reporter Dan

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<v Speaker 5>Williams and Dan, if these reports hold up, it sounds like,

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<v Speaker 5>rather than coming to a compromise, that the demands around

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<v Speaker 5>the Strait of fore moves are getting more maximalist. What

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<v Speaker 5>do we know about what's happening with this potential deal?

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<v Speaker 5>Good morning, Hi, Good morning here, Nathan.

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<v Speaker 9>We know that for going on seventy two hours now,

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<v Speaker 9>we've been expecting this deal imminently imminent has proved to

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<v Speaker 9>be not so imminent, and as you've noted, there are

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<v Speaker 9>conditions being piled on, at least publicly. The question is

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<v Speaker 9>this latest condition by Iran how practical? What sort of

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<v Speaker 9>impact would it have on the ground or more precisely,

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<v Speaker 9>on the water, is really Flagships have pretty much not

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<v Speaker 9>been anywhere near or moves during this war. They've already

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<v Speaker 9>thinned out their presence such as it was well ago.

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<v Speaker 9>US flagships in terms of US flagships not necessarily or

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<v Speaker 9>in cargo for the United States are also fairly rare,

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<v Speaker 9>So it could be that the will not have a

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<v Speaker 9>practical price. However, in terms of prestige, it's kind of

0:12:05.800 --> 0:12:08.559
<v Speaker 9>a blow. It's really egging the face of the US President,

0:12:08.559 --> 0:12:12.079
<v Speaker 9>who has you noted, is talking up this allegedly imminent

0:12:12.120 --> 0:12:15.040
<v Speaker 9>deal in his own right. Very hard to know where

0:12:15.080 --> 0:12:17.880
<v Speaker 9>things stand. Is worth remembering that from the outset we

0:12:17.880 --> 0:12:21.800
<v Speaker 9>weren't even clear if this is a bilateral conversation between

0:12:22.000 --> 0:12:25.880
<v Speaker 9>the foes, the United States and Iran. Iran always insisted

0:12:25.960 --> 0:12:28.880
<v Speaker 9>it was talking to Oman who was serving as kind

0:12:28.880 --> 0:12:32.000
<v Speaker 9>of a proxy or a mediator for the US. Here

0:12:32.120 --> 0:12:35.080
<v Speaker 9>Iran is presented this as a bilateral deal. So really,

0:12:35.120 --> 0:12:39.199
<v Speaker 9>in terms of the basic fundamental structure of this negotiations,

0:12:39.200 --> 0:12:43.720
<v Speaker 9>there's disagreement. Hard to know how a peaceable deal might emerge.

0:12:44.040 --> 0:12:46.240
<v Speaker 5>Just about a minute left here unfortunately, Dan, But does

0:12:46.280 --> 0:12:49.360
<v Speaker 5>it look like a return to the pre war status

0:12:49.440 --> 0:12:51.480
<v Speaker 5>quo in the Strait is just out the window at

0:12:51.480 --> 0:12:51.920
<v Speaker 5>this point.

0:12:53.760 --> 0:12:55.600
<v Speaker 9>I think a pre war status quo in terms of

0:12:55.640 --> 0:12:59.760
<v Speaker 9>Hormuz would be very satisfactory to Trump. Keep in mind

0:12:59.800 --> 0:13:02.480
<v Speaker 9>that even if there is a returned to that, Iran

0:13:02.520 --> 0:13:04.920
<v Speaker 9>would certainly not return to the pre war status quo

0:13:05.040 --> 0:13:08.320
<v Speaker 9>given the damage inflicted on it during the war, and

0:13:08.360 --> 0:13:11.360
<v Speaker 9>I think both Israel and the United States would try

0:13:11.400 --> 0:13:14.480
<v Speaker 9>to spin that resolution in their favor in terms of

0:13:14.480 --> 0:13:17.560
<v Speaker 9>having delivered that blow. The Iranians are clearly aware of this,

0:13:17.600 --> 0:13:21.160
<v Speaker 9>So what they're trying to do is exact compensation indirectly

0:13:21.600 --> 0:13:23.640
<v Speaker 9>through the tolls or the tributes or if you like,

0:13:23.679 --> 0:13:27.360
<v Speaker 9>the service charges that they want to exact from shipping

0:13:27.360 --> 0:13:29.800
<v Speaker 9>that would come through Hall Moves in the event of

0:13:29.840 --> 0:13:32.760
<v Speaker 9>a deal there. Apparently one of the things holding up

0:13:33.080 --> 0:13:36.320
<v Speaker 9>is disagreement over the degree to which the Ranians could

0:13:36.320 --> 0:13:38.760
<v Speaker 9>exact that's that kind of toll, how much money, and

0:13:38.800 --> 0:13:41.760
<v Speaker 9>whether they'd also be able to inspect pargo on ships

0:13:41.760 --> 0:13:44.800
<v Speaker 9>that they would have inspection rights over should there be

0:13:44.840 --> 0:13:46.760
<v Speaker 9>such a resolution, such a deal for he Moves.

0:13:48.559 --> 0:13:52.000
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