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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 developments from the Middle East.

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Speaker 3: Iran and Israel have agreed to stop fighting after a

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Speaker 3: flare up of missile attacks over the weekend, and now

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Speaker 3: President Trump says peace talks are back on track.

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Speaker 4: We have ongoing negotiations in Iran and with Iran that

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Speaker 4: hasn't stopped, and we could have at least an idea

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Speaker 4: by one.

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Speaker 5: Or two days from now.

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Speaker 3: President Trump spoke with reporters in New York. We get

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Speaker 3: more from Bloomberg Sabirabu Omar in Dubai.

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Speaker 6: He said that we could see a deal within a

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Speaker 6: day or two. He said that Prime Minister Nataannaho in

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Speaker 6: Israel had the right to retaliate against Iran's attacks. But

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Speaker 6: what we've seen unfold over yesterday was some escalation. I mean,

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Speaker 6: I would say the most serious escalation since the ceasefire

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Speaker 6: was reached in the beginning of April, especially got Israel

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Speaker 6: had hit Iran some plans there a petrochemical plant where

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Speaker 6: Irenian officials had to evacuate personnel. It had some cities

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Speaker 6: in central Tehran and also western Tehran, leading Iran to

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Speaker 6: also hit northern parts of Israel and Bloomberg.

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Speaker 3: Sabira albo Omar reports both Israel and to Ron have

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Speaker 3: threatened to attack again if either side resume strikes. Meantime,

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Speaker 3: a US Army Apache helicopter went down near the Strait

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Speaker 3: of Horror Moves overnight, though it's not clear if it

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Speaker 3: was shot down or suffered mechanical problems. President Trump says

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Speaker 3: the pilots are fine and a report will be released

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Speaker 3: on the crash later today.

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Speaker 2: Well Nathan, former Defense Secretary Lloyd Austin is weighing in

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Speaker 2: on the war with a run the Pentagon Chief under

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Speaker 2: former President Joe Biden says restoring freedom of navigation through

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Speaker 2: the Strait of Horror Moves is key.

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Speaker 7: Well, certainly the United States Navy could open a straight

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Speaker 7: for moves, and holding it open for a long period

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Speaker 7: of time, we'd be would be pretty costly, and so

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Speaker 7: we'd like to see an international effort if if that's

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Speaker 7: the case, If if we get it open, we want

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Speaker 7: to get allies and partners involved in that.

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Speaker 2: Former Defense Secretary Lloyd Austin spoke with the Bloomberg at

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Speaker 2: the HSBC Golf Cooperation Council Exchanges Conference in London, and

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Speaker 2: catch the full conversation on our new video hub on

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Speaker 2: the Bloomberg Business app.

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Speaker 3: Well, Karen, now we want to get you caught up

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Speaker 3: on politics, because after nearly a week of vote counting,

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Speaker 3: the primary results of here set in the race for

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Speaker 3: California governor. With eighty three percent of ballots counted, Decision

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Speaker 3: Desk HQ is projecting Republican Steve Hilton will advance to

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Speaker 3: face Democrat Javier Bisera in the November general election. Right now,

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Speaker 3: Biserah leads with twenty seven point seven percent of the vote,

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Speaker 3: Hilton's in second with twenty five point one percent, and

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Speaker 3: Democrat Tom Steyers trailing in third with twenty two point

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Speaker 3: four percent. Mail in ballots are allowed to arrive up

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Speaker 3: to a week after election day in California. That's led

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Speaker 3: President Trump to repeat claims the election is real.

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Speaker 4: They voted five days ago, and nobody has any idea

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Speaker 4: where the votes are, what's going to happen, and we

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Speaker 4: don't want that. We're not going to allow that to

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Speaker 4: happen to our nation.

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Speaker 3: I was President Trump at a telephone rally in Kentucky

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Speaker 3: last night. Many of the late arriving ballots have favored

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Speaker 3: Tom Steyer, but he is ultimately projected to fall short

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Speaker 3: of overtaking Steve Hilton Nathan.

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Speaker 2: Primary elections continue today, with voters heading to the polls

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Speaker 2: in Maine, Nevada, and North Dakota, and South Carolina, and

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Speaker 2: Bloomberg's Amy Morris reports Democrats may be taking a big risk.

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Speaker 2: In Maine.

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Speaker 1: Graham Platner is the leading contender for the Democratic nomination

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Speaker 1: to challenge and comet Republican Susan Collins, but a string

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Speaker 1: of revelations about his behavior may tank his chances. The

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Speaker 1: race is vital to any chance of Democrats winning back

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Speaker 1: the Senate. Nevada's governor faces six Republican challengers in a

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Speaker 1: state primary, while six Democrats will compete for the nomination

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Speaker 1: to reclaim the seat in November. North Dakota's only US

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Speaker 1: House member is facing a primary challenge, and South Carolina

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Speaker 1: voters will choose nominees for governor, one of whom Lieutenant

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Speaker 1: Governor Pamela Evatt, has President Trump's endorsement. In Washington, Amy

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Speaker 1: Morris Bloomberg.

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Speaker 8: Radio, Amy.

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Speaker 3: Thanks, Let's turn our attention down to the NBA Finals,

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Speaker 3: where the San Antonio Spurs have made it a series.

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Speaker 3: They beat the Knicks in New York to take Game

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Speaker 3: three in Bloomberg's. John stash Hower joins us with the recap, John.

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Speaker 9: Nathan, it was the next first home game in two

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Speaker 9: and a half weeks, and it turned out to be

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Speaker 9: their first loss in forty six days. They had won

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Speaker 9: thirteen games in a row. But the Spurs in the

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Speaker 9: final half minute led by three and had the ball,

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Speaker 9: had a nine.

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Speaker 10: Second different shot clock in game clock.

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Speaker 8: Tiles holding God to Webby. Fox gets into the pat, puts.

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Speaker 3: Up, jumper, got it, deeferent Fox will a clutch fucking

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Speaker 3: right there, and it's back to a.

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Speaker 8: Five point game time out.

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Speaker 9: We're twelve poor, two remaining ABC and the calls and

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Speaker 9: Antonio won one fifteen one to eleven. Victor Webenyama score

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Speaker 9: thirty two points. So the Jalen Brunson to defeat this

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Speaker 9: series now two to one, with a big game four

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Speaker 9: tomorrow at the Garden.

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Speaker 8: John stanshyeware bloo McGrady, all right, John, thank you.

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Speaker 2: It was quite a scene at Madison Square Garden for

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Speaker 2: the next first Finals home game since nineteen ninety nine,

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Speaker 2: President Trump and New York City Mayor Mom Donnie. Those

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Speaker 2: are just some of those in attendance as security concerns

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Speaker 2: clogged as sidewalks outside of the arena itself, and Bloomber's

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Speaker 2: John Tucker joins us with the very latest John Good morning.

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Speaker 11: Good morning, Karen. Donald Trump became the first sitting US

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Speaker 11: president to attend an NBA Finals game, and when the

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Speaker 11: President's face was shown on the jumbo tron Trump's attendance,

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Speaker 11: it also brought a bronx cheer from Senator Chuck Schumer.

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Speaker 3: Trump can't bear letting anyone else be the center of

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Speaker 3: the tension for one night.

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Speaker 11: Well, those with tickets were asked to get to the

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Speaker 11: game two hours early. They also had to pass through magnetometers.

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Speaker 11: Most fans did take it in stride.

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Speaker 8: New Yorkers are very resilient. We'll find a way to

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Speaker 8: make it fun.

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Speaker 11: When the presidential security met Knicks fan, so we're hoping

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Speaker 11: to stand outside the arena for the traditional watch parties,

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Speaker 11: they had to find another spot. There was a long

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Speaker 11: line to enter Woman's Rink in Central Park, where a

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Speaker 11: series of pickleball courts had been converted into a fan

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Speaker 11: viewing area. The central park, local bars or your living

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Speaker 11: room were the only options for most tickets for the

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Speaker 11: game of the secondary market approached and sometimes surpassed Manhattan

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Speaker 11: rent checks in New York on John Tucker Bloomberg Radio.

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Speaker 8: Yeah that's the true Thank you, John.

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Speaker 7: Well.

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Speaker 8: Let's turn to the markets now.

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Speaker 3: Nasdaq futures once again are leading the way higher after

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Speaker 3: yesterday's gains. The NASDAK grows nine tenths percent. Stocks in

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Speaker 3: South Korea recouped just about all of yesterday's more than

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Speaker 3: eight percent plunged today.

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Speaker 8: The cospianex rows eight point two percent.

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Speaker 2: And Nathan, we have several developments this morning on the

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Speaker 2: IPO front. Open Ai has filed confidentiality for an initial

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Speaker 2: public offering as it joins rivals and tapping public markets

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Speaker 2: to fund ambitious growth plans. So as to say, the

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Speaker 2: maker of chat gpt is working on a potential listing

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Speaker 2: as soon as this fall. Michael Hitha covers the IPO market.

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Speaker 12: For Bloomberg another week, another multi billion plan for an

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Speaker 12: IPO of an AI company.

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Speaker 8: The race is on against anthropic.

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Speaker 12: What Open the I is saying today is simply that

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Speaker 12: they announced that they had filed confidentially for an IPO

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Speaker 12: because they thought it was going to leak anyway.

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Speaker 8: So they put that out there.

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Speaker 12: The announcement notably says that they have not decided on timing,

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Speaker 12: that the company is perhaps doing things which might be

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Speaker 12: better done as a private company for a while, and

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Speaker 12: the decision on that will come later.

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Speaker 2: And Bloomber's Michael Hype says the Sam Altman led firm

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Speaker 2: also plans to launch a tender sale of its shares

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Speaker 2: to provide liquidity to employees in the coming weeks before

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Speaker 2: the company goes public.

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Speaker 3: Well Meanwhile, Karen SpaceX's IPO is said to be well

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Speaker 3: over subscribed, with orders closing tomorrow. We get that story

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Speaker 3: from Bloomberg's Charlie Pellett.

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Speaker 13: Demand is building for a potentially record setting debut. Emily

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Speaker 13: Green is head of private wealth management at Elvest, and

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Speaker 13: she says there are very mixed investor views.

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Speaker 2: The SpaceX IPO is so controversial, Like there's the people

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Speaker 2: who cannot wait to get access to it, and then

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Speaker 2: there's the people.

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Speaker 8: I have gotten so many emails like make sure that

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Speaker 8: I do not own this.

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Speaker 13: SpaceX's IPO is expected to price June eleventh, and trade

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Speaker 13: the following day in New York Charlie Pellett's Bloomberg.

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Speaker 8: Radio Charlie, Thank you Well.

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Speaker 2: Apple has used its Worldwide Developers Conference to introduce a

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Speaker 2: new generation of products, including an overhauled assistant called SIRIAI

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Speaker 2: to compete in the AI era. Begin more with the

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Speaker 2: Bloomberg Tech host ed ludlow and Coopertino, California.

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Speaker 14: It is Siri AI. It comes in the form of

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Speaker 14: a standalone app. It comes with a chatbot interface. It

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Speaker 14: is also interoperable. Siri AI will work across iOS with iPhone,

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Speaker 14: mac os, with mac iPad, os with iPad. You get

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Speaker 14: the idea. The whole point is that you can start

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Speaker 14: a project, something meaningfully useful on one device and carry

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Speaker 14: it over into another.

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Speaker 2: And Bloomberg techo said ludlow As that this marked Tim

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Speaker 2: Cook's fifteenth and final Worldwide Developers Conference as Chief executive

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Speaker 2: of Apple. John Turnas takes over September.

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Speaker 3: First, We've got some deal news this morning, Karen. That's

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Speaker 3: got shares of New Valent surging thirty eight and a

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Speaker 3: half percent pre market. The Cambridge, Massachusetts based biotech is

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Speaker 3: being bought by the UK's GSK for ten point six

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Speaker 3: billion dollars new valent designs precisely targeted therapies frontology patients,

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Speaker 3: including lung cancer.

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Speaker 2: Time now for a look at some of the other

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Speaker 2: stories making news in New York and around the world,

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Speaker 2: and for that we're joined by a Bloomberg's Michael Barr.

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Speaker 8: Michael, good morning, Good morning, Karen.

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Speaker 15: Residents across eight northern California counties face potential power outages

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Speaker 15: later this week as dry, gusty winds increase wildfire risk.

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Speaker 15: Bloomberg medirologist Craig Allen has the latest.

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Speaker 16: Red flag warnings are already in effect for portions of

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Speaker 16: northern California, especially in the Sacramento Valley about twenty to

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Speaker 16: thirty miles either side of Interstate five and north of

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Speaker 16: Napa and Sacramento. Many counties are also on to the

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Speaker 16: threat of losing power purposely shut off by PG and E.

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Speaker 16: Reason being fires could instantly ignite from downpower lines and

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Speaker 16: spread very rapidly in the hot, dry winds, and the

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Speaker 16: threat will continue right through the rest of this week.

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Speaker 15: Bloomberg neeurologist Craig Allen, Thank you, sir. Three more cases

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Speaker 15: of the New World screwworm have been confirmed, demonstrating the

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Speaker 15: difficulty of stopping a pest that could potentially devastate the

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Speaker 15: nation's cattle industry. The US Department of Agriculture announced though

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Speaker 15: that the new cases were found in a dog from

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Speaker 15: New Mexico. Agriculture Secretary Brook Rollins confirmed another animal has

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Speaker 15: been discovered with the pest.

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Speaker 6: Just a couple of hours ago.

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Speaker 2: We had an additional confirmation in a goat in Gillespie County, Texas.

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Speaker 15: The screw worm is actually a fly which produces a

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Speaker 15: larvae that eats live flesh instead of dead material. A

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Speaker 15: federal judge struck down a one hundred thousand dollars fee

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Speaker 15: President Donald Trump ordered for h one visa applications, saying

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Speaker 15: it is an unlawful tax. The judge signed it with

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Speaker 15: California and nineteen other states that sued to block the fee,

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Speaker 15: arguing it exceeded President Trump's authority and would be detrimental

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Speaker 15: to key public sectors. The government said it would appeal

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Speaker 15: the decision. New York City will host a free watch

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Speaker 15: party in Central Park for the World Cup Final next month.

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Speaker 15: Mayor Zorin Mamdani looks to make the international soccer tournament

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Speaker 15: accessible to those who can afford to attend matches in person.

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Speaker 4: The most iconic match of the most iconic tournament in

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Speaker 4: the world deserves to be watched in the most iconic

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Speaker 4: park in the world, with the most iconic skyline as

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Speaker 4: its backdrop.

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Speaker 15: The event on July nineteenth is expected to accommodate more

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Speaker 15: than fifty thousand people and will be held on the

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Speaker 15: Great Lawn in Central Park. Global News twenty four hours

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Speaker 15: a day and whenever you want it with Bloomberg News Now.

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Speaker 15: I'm Michael Barrn. This is Blue Karen.

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Speaker 2: All right, Macabar, thank you time now for the Bloomberg

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Speaker 2: Scores update. It's brought to you by Flushing Bank, a

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Speaker 2: division of Ocean First Bank, and we bring back in

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Speaker 2: John stash Hour.

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Speaker 8: John, Good morning, morning, Karen. Yes, the streak is over.

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Speaker 8: Lasted six and a half weeks.

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Speaker 9: The Knicks one thirteen knsanka the playoff games, and all

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Speaker 9: but two were in double figures. It included two series

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Speaker 9: sweeps and then two thrilling wins to start the NBA

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Speaker 9: Finals in San Antonio. But back at the Garden with

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Speaker 9: fans paying exorbitant prices, the Spurs prevailed in game three one,

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Speaker 9: fifteen to one to eleven. Victor webn Yama, who made

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Speaker 9: costly mistakes in the finnament of Game two, had by

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Speaker 9: far his best game of the series, thirty two points,

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Speaker 9: ten in the fourth quarter, eight rebounds, six assists, three blocks.

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Speaker 8: Stephan castle At in twenty.

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Speaker 9: Three sealed the win with two free throws with seven

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Speaker 9: seconds ago for the Knicks. In defeat, Jalen Brunson and

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Speaker 9: Ogiananobi combined to.

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Speaker 8: Score sixty o g was the Knicks best player.

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Speaker 9: There were three people on the court that Knicks coach

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Speaker 9: Brown was not happy about.

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Speaker 10: They won the game tonight. They came and took the game.

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Speaker 10: But I will say this, I never thought I'd be

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Speaker 10: in the NBA Finals and see a team get twenty

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Speaker 10: four free throw attempts in the second half to none

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Speaker 10: of the team's eight.

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Speaker 9: So clearly not pleased with the officiated Karl Anthony Towns

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Speaker 9: offered another reason for the loss.

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Speaker 5: Turned the ball over and execute. Didn't do what got

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Speaker 5: us thirteen straight wins in a row. That's how you

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Speaker 5: lose a game. We didn't do what we didn't doing

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Speaker 5: for thirteen. We decided to signed different. I ain't gonna

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Speaker 5: work and I'm throwing the ball away is a clear

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Speaker 5: indication of how you're gonna lose a game, especially in

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Speaker 5: the playoffs.

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Speaker 8: So it's now two to one.

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Speaker 9: Nixon, you cannot overestimate the importance of tomorrow's game for

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Speaker 9: back at MSG and Nicks win. They're in good shape

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Speaker 9: up three one A Spurs win is to two. San

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Speaker 9: Antonio will have regained home court advantage. Stanley Cup final

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Speaker 9: game for tonight in Vegas Golden Night. It's lead Carolina

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Speaker 9: two to one. They have split overtime games of the

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Speaker 9: last two. Peter Lobby Alatt, fired last year by the Rangers,

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Speaker 9: named the duke coach of the La Kings. This will

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Speaker 9: be his sixth NHL jobby as coach is the seventh

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Speaker 9: most wins in history. In Cleveland and Cody Bellinger two

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Speaker 9: run single tenth and in the Yankees beat the Guardians

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Speaker 9: seven to five. Tampa Baby at the Red Sox three

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Speaker 9: to one. The Rays and Yanks stay tied for first,

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Speaker 9: and Mets are home tonight to play the Cardinals. John Stasha,

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Speaker 9: I went Bloomberg Sports Karen Eaven.

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Speaker 1: Stay with us.

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

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Speaker 15: Coast to Coast on Bloomberg Radio nationwide on Sirius Exam

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Speaker 15: and around the world on Bloomberg dot Com and the

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Speaker 15: Bloomberg Business app.

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Speaker 8: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.

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Speaker 3: After one of the worst flare ups in fighting since

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Speaker 3: the us CS fire where Iran began two months ago,

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Speaker 3: Israel and Iran say they've both agreed to stop attacks

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Speaker 3: for now after a call for cooler heads from President Trump,

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Speaker 3: and now the President says to go Bgotiations on an

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Speaker 3: interim peace steal are back on track.

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Speaker 4: We've been a very tough team and I think we

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Speaker 4: are winning that battle, but you're really going to win

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Speaker 4: it over the next two weeks. When we declared total victory.

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Speaker 3: That was President Trump speaking at a tell rally in

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Speaker 3: Kentucky last night. Joining us this morning from Dubai is

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Speaker 3: Bloomberg Middle East correspondent.

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Speaker 8: Abir Abu almar So. Abir.

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Speaker 3: We've seen the flare up since Sunday. Where do things

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Speaker 3: stand now that things appear to be calming down?

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Speaker 6: Good morning, Good morning, Nathan, But yeah, stalemate again. We

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Speaker 6: saw the worst hostilities yesterday since the ceasefire on April

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Speaker 6: eighth was reached, and this is because Israel and Iran

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Speaker 6: were exchanging fires directly, with Iran hitting northern parts of

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Speaker 6: Israel and then Israel hitting western and central cities in

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Speaker 6: the capital Tehran. It also hit a petrochemical plant, leading

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Speaker 6: Iranian officials to evacuate personnel. Now, President Trump had spoken

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Speaker 6: to Benjamin Nettanna, who over on Monday, and told him

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Speaker 6: to essentially not retaliate, to which Natanya, who agreed. The

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Speaker 6: Iranian side had also come out and said that it

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Speaker 6: would hold fire, but it will respond if Israel continues

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Speaker 6: head hitting the southern part of Lebanon. But look, President

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Speaker 6: Trump came out this morning as well as spoke to

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Speaker 6: reporters in New York saying that ongoing negotiations with Iran

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Speaker 6: are still happening. He said that we could have an

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Speaker 6: idea on the Iran deal by one or two days

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Speaker 6: at this point, and he said that the blockade and

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Speaker 6: the strait of her moods will continue to hold until

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Speaker 6: this MoU or the interim deal that we've been talking

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Speaker 6: about over the past couple of months, comes to place. Essentially, Now,

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Speaker 6: this is not a narrative that we haven't heard over

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Speaker 6: the past couple of months. President Trump does have the

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Speaker 6: incentive to strike a deal. He does have the incentive

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Speaker 6: to come to the table with Iran, especially with the

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Speaker 6: pressure that he's facing domestically with those with the those

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Speaker 6: elections coming up, the midterm elections coming up. Iran, on

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Speaker 6: the other hand, still keeps the same line that Lebanon,

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Speaker 6: which has emerged as the final sticking point for it is,

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Speaker 6: continues to be a sticking point essentially and says that

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Speaker 6: it will not come to the negotiating table unless those

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Speaker 6: attacks against the suburbs of southern Lebanon sees to happen

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Speaker 6: by Israel, to which Israel has said no. Essentially.

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Speaker 3: It sounds then like Hezbola in Lebanon could still be

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Speaker 3: a wildcard.

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Speaker 8: Is that the case of her.

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Speaker 6: Yeah, look absolutely, Hesbela has been firing against the northern

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Speaker 6: parts of Israel in the past few days. Israel has

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Speaker 6: its deep deepest, excuse me, deepest sort of entry into

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Speaker 6: Lebanon over the past twenty five years, since two thousand

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Speaker 6: and so, those hostilities between the militia that is backed

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Speaker 6: by Iran and the IDEF have been happening even since

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Speaker 6: even the ceasefire that is currently in place, and that

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Speaker 6: really gets to show you how fragile this wider ceasefire

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Speaker 6: is because you have a lot of smaller militants that

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Speaker 6: are taking part in the fight. Another militant group that

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Speaker 6: is backed by Iran as well, the Hothies, came out

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Speaker 6: yesterday and they've been pretty silent since the start of

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Speaker 6: this whole thing about one hundred days ago, Nathan, But

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Speaker 6: they came out yesterday and when the attacks between Israel

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Speaker 6: and Iran happened, and they said that they will issue

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Speaker 6: a ban on maritime traffic Israeli maritime traffic in the

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Speaker 6: Red Sea and the babyin Mendeb Strait, which has been

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Speaker 6: immune from what we've been seeing happening in the Strait

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Speaker 6: of Her Moves. So you're seeing these parallel fights that

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Speaker 6: are happening at the same time as the wider fight

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Speaker 6: between the US, Israel, and Iran. In meantime, all prices

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Speaker 6: are stillid about ninety three to ninety five dollars a barrel.

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Speaker 8: The Strait of Her Moods is still closed.

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Speaker 6: And the other concessions that we have been talking about

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Speaker 6: over the past two months or so, including the highly

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Speaker 6: enriched uranium, including the frozen assets twenty four billion dollars

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Speaker 6: of those those are still very much not resolved. But

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Speaker 6: again we go back to wait and see mode and

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Speaker 6: see whether President Trump's remarks about an imminent deal are

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Speaker 6: actually going to materialize over the next few days.

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Speaker 2: This is Bloomberg day Break, your morning podcast on the

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