WEBVTT - Saudi, UAE Could Reportedly Join Iran War; Senate Inches Toward DHS Deal

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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.

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<v Speaker 3>Karen, we begin with the latest on the war with Iran,

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<v Speaker 3>now into its twenty fifth day. Attacks continue on both sides,

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<v Speaker 3>even as President Trump says he's holding off on going

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<v Speaker 3>after Iran's energy infrastructure for five days, citing what he

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<v Speaker 3>calls really good discussions with Tehran.

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<v Speaker 4>They started last night, a little bit the night before that,

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<v Speaker 4>and I think they're you know, I think they're very good.

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<v Speaker 4>They want to they want peace, They've agreed they will

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<v Speaker 4>not have a nuclear weapon, you know, et cetera, et cetera.

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<v Speaker 3>The President says US envoys Steve Whitcoff and Jared Kushner

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<v Speaker 3>spoke with a top person in Iran on Sunday, but

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<v Speaker 3>that it's not the new supreme leader. Most to Bahamini.

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<v Speaker 3>Iranian official for their parts, say they are ruling out

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<v Speaker 3>discussions with the US. Stuart Livingston Wallace leads Bloomberg's Middle

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<v Speaker 3>East coverage.

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<v Speaker 5>It's a confused picture and was wig getting scraps of it,

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<v Speaker 5>So there does appear to have been some sort of

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<v Speaker 5>back channeling going on, and our reporting has shown that

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<v Speaker 5>probably includes Egypt, Turkey, Pakistan, sada Abroman and I'm sure

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<v Speaker 5>that's not a complete list when you think of the

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<v Speaker 5>number of countries that have been impacted by this war,

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<v Speaker 5>not just directly in terms of attacks from Iran, but

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<v Speaker 5>also you know, in terms of the economic impact much

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<v Speaker 5>further afield, and I'm thinking particularly of East Asia.

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<v Speaker 3>Bloomberg Stewart Livingston Wallace reports President Trump decided to back

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<v Speaker 3>office threats after allies privately warned him that the war

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<v Speaker 3>was becoming a disaster. Sources tell Bloomberg News that regional

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<v Speaker 3>partners told the US permanent damage to Iran's infrastructure would

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<v Speaker 3>lead to a failed state.

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<v Speaker 2>But Nathan, there are signs of conflict may already be escalating.

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<v Speaker 2>The Wall Street Journal is reporting that Saudi Arabia and

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<v Speaker 2>the United Arab Emirates are taking steps toward joining the

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<v Speaker 2>war versus. Saudi Arabia has agreed to give the US

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<v Speaker 2>access to King Fod Airbase, and the UAE has closed

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<v Speaker 2>a hospital and a club owned by Iran. All this

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<v Speaker 2>is a tax to continue this morning, as we hear

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<v Speaker 2>from Bloomberg, middle A Score responded Jumana Bursecchi.

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<v Speaker 6>There'll still being joint US Israeli military strikes throughout Iran. Overnight.

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<v Speaker 6>Some reported strikes near nuclear facilities have taken place, so

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<v Speaker 6>we understand that limited damage was caused there and in retaliation,

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<v Speaker 6>Iran continues to strike back and once again sending projectiles

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<v Speaker 6>towards Saudi Arabia that were intercepted over Kuwait over Baherin.

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<v Speaker 6>We understand an AW West center was also targeted in Baharan,

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<v Speaker 6>more interceptions over the UAE as well, and missile strikes

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<v Speaker 6>being targeted towards Tel Aviv.

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<v Speaker 2>And as Bloomberg Jumana Bursecchi reporting from Dubai.

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<v Speaker 3>Well Karen, there were huge bets in the markets before

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<v Speaker 3>President Trump's public announcement on war negotiations that helped send

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<v Speaker 3>crudal prices tumbling fourteen percent. Contracts are representing millions of

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<v Speaker 3>barrels changed hands about fifteen minutes before the president's social

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<v Speaker 3>media post. That's according to exchange data compiled by Bloomberg.

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<v Speaker 3>There was a similar increase in activity in US stock

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<v Speaker 3>futures on the SMP five hundred prior to the president's post.

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<v Speaker 2>Well CHECKI Marcus this morning. Right now, Nathan crude oil

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<v Speaker 2>is rising. Nim X crude oil is up almost three

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<v Speaker 2>percent at ninety dollars sixty nine cents a barrel, Brent

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<v Speaker 2>is up one point seven percent at one hundred and

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<v Speaker 2>one dollars sixty six cents, and SMP futures are lower,

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<v Speaker 2>down a tenth of uve percent. Yesterday, all three major

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<v Speaker 2>indexes gained at least one point two percent after President

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<v Speaker 2>Trump ordered the Pentagon to hold off on military strikes

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<v Speaker 2>against Iranian energy infrastructure. Brent Shooty is chief investment officer

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<v Speaker 2>at Northwestern Mutual.

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<v Speaker 7>From the near term, it's still a wait and see.

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<v Speaker 7>I don't think we've resolved all the different possible outcomes,

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<v Speaker 7>and so I think this week is going to be

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<v Speaker 7>interesting as we progress, and certainly headlines will drive the

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<v Speaker 7>market over the next few weeks. Longer term, though, you

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<v Speaker 7>want to look through this and you want to stay invested, obviously,

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<v Speaker 7>and you want to stay diversified, and.

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<v Speaker 2>That's Northwestern Mutuals Brent Shooty. The S and P five

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<v Speaker 2>hundred had its biggest one day gain since February sixth.

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<v Speaker 3>Karen, let's get to the latest now. In the deadly

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<v Speaker 3>plane crash at New York Slaguardia Airport. The cockpit voice

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<v Speaker 3>recorder and flight data recorder have been recovered. Investigators are

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<v Speaker 3>decoding the black boxes from that Air Canada Express jet

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<v Speaker 3>that collided with a fire truck just after landing. The

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<v Speaker 3>captain and the co pilot died. Forty three people were hurt.

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<v Speaker 3>Jennifer Homan Dy is chair of the National Transportation Safety Board.

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<v Speaker 8>The port authority and the emergency responders cut a hole

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<v Speaker 8>on the roof of the aircraft, dropped down and was

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<v Speaker 8>able to get the CVR and FDR for US, which

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<v Speaker 8>then one of our investigators drove back to our labs

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<v Speaker 8>in Washington, DC today where they've been able to at

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<v Speaker 8>least verify that the cockpit voice recorder was not damn.

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<v Speaker 3>And tsp's Jennifer Homandy says this was the first deadly

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<v Speaker 3>accident at LaGuardia in more than thirty years.

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<v Speaker 2>Meanwhile, Nathan Senators and both parties are expressing rising optimism

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<v Speaker 2>about reaching an agreement to eny five week partial shutdown

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<v Speaker 2>to the Department of Homeland Security. The shutdown has led

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<v Speaker 2>to lengthy delays and major US airports and unpaid employees

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<v Speaker 2>of the Transportation Security Administration calling in sick after Republicans

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<v Speaker 2>met at the White House with President Trump on Monday.

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<v Speaker 2>Senator Mike Rounds of South Dakota tells Bloomberg Balance of

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<v Speaker 2>Power that the Senate is working on a deal.

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<v Speaker 9>We'll continue to work on it. Hopefully we will find

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<v Speaker 9>a breakthrough somewhere along the line, and we'll be able

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<v Speaker 9>to not only open up all of the operations of government,

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<v Speaker 9>including those that protect us against terrorst threats, and get

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<v Speaker 9>our airports open and operational and get those guys paid.

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<v Speaker 9>That's really important to the vast majority of us. And

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<v Speaker 9>I recognize that the President is lobbying hard to get

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<v Speaker 9>everything done. Respect him for it. Bottom line is, we're

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<v Speaker 9>going to get as much done as we possibly can

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<v Speaker 9>get done.

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<v Speaker 2>And Senator Mike Grounds of South Dakota on Bloomberg's Balance

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<v Speaker 2>of Power, Senate Minority Leader Chunk Schumer told reporters that quote,

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<v Speaker 2>both sides are working in a serious way. The Senate

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<v Speaker 2>has been at odds over two Democratic demands that DHS

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<v Speaker 2>agents obtain warrants from judges before entering homes and that

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<v Speaker 2>federal agents stop wearing masks.

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<v Speaker 3>Man with the DHS still shut down, Karen Mark, Wayne

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<v Speaker 3>Mullen has been confirmed to be its next secretary.

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<v Speaker 7>On this vote, the eyes are fifty four, the Naser

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<v Speaker 7>forty five.

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<v Speaker 10>The nomination of Mark Wayne Mullen of Oklahoma to be

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<v Speaker 10>Secretary of Homeland Security is confirmed.

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<v Speaker 3>It was the Senate vote mostly long party lines, confirming

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<v Speaker 3>the first term Republican senator and former mixed martial arts

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<v Speaker 3>fighter who's been a staunch defender of President Trump's deportation program.

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<v Speaker 3>Federal funding, as we said, has been shut down for

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<v Speaker 3>the DHS since mid February due to disagreements over immigration

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<v Speaker 3>enforcement tactics and demands for restrictions. Mark Wayne Mullen places

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<v Speaker 3>Christinam as DHS Secretary, well.

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<v Speaker 2>Over sees Nathan. The European Union and Australia have agreed

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<v Speaker 2>to a free trade deal after almost a decade of negotiations.

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<v Speaker 2>Both parties are working to shield their economies from US

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<v Speaker 2>tariffs and China's restrictions on critical minerals. Here's European Commission

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<v Speaker 2>President Ursula Vonderlion.

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<v Speaker 11>Today, we are telling an important story to a world

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<v Speaker 11>that is deeply changing, a world where great powers are

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<v Speaker 11>using tariffs as a leverage and supply chains as vulnerabilities

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<v Speaker 11>to be exploited in our story Open WOS based trade

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<v Speaker 11>delivers positive sum outcomes. Trust matters more than transactions.

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<v Speaker 2>European Commission President Ursula Vonderlion says the agreement will now

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<v Speaker 2>need to be signed off by EU countries and approved

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<v Speaker 2>by both parliaments.

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<v Speaker 3>Hey, Karen, Well, the markets may close on Fridays, the

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<v Speaker 3>world does not. That is why we are bringing you

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<v Speaker 3>a new live radio and tiar t show, Bloomberg This Weekend,

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<v Speaker 3>looks beyond the daily headlines to the bigger themes striving politics,

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<v Speaker 3>business and culture. So joined David Gera, Christina Raffini, and

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<v Speaker 3>Lisa Matteo for smart conversations and in depth interviews that

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<v Speaker 3>help make sense of the week that's been and what

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<v Speaker 3>comes next. You get Bloomberg This Weekend live every weekend,

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<v Speaker 3>Saturdays and Sundays from seven am Eastern on Bloomberg Radio,

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<v Speaker 3>Bloomberg Television, and the Bloomberg Business App.

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

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<v Speaker 2>stories making news in New York and around the world.

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<v Speaker 2>And for that we're joined by Bloomberg's John Tucker. John

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<v Speaker 2>Good Morning, Good Morning, Careen.

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<v Speaker 12>The Supreme Court signaled a divide over Republican calls to

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<v Speaker 12>require mail in ballots to arrhyme by election day. Let's

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<v Speaker 12>get the story this morning from Bloomberg's Matt pinker Key.

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<v Speaker 13>Justice's voice concern about the impact of the case might

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<v Speaker 13>have on the practice of early voting. Chief Justice John

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<v Speaker 13>Roberts suggests that he was not convinced by Trump administration

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<v Speaker 13>contentions that later arriving ballads could be outlawed without also

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<v Speaker 13>undermining early voting. Hearing that lasted more than two hours Monday,

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<v Speaker 13>the court grappled with a Mississippi law that allows mail

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<v Speaker 13>in ballots to be counted as long as they arrive

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<v Speaker 13>within five business days of election day. Dozens of states

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<v Speaker 13>allow at least some ballots to be counted after election day.

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<v Speaker 5>I'm Matt Piper Bloomberg Radio.

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<v Speaker 12>The Trump administration has initiated two new investigations into Harvard University.

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<v Speaker 12>It comes over alleged anti semitism on campus and racially

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<v Speaker 12>discriminatory admissions practices. Two people on board a small helicopter

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<v Speaker 12>were killed when it crashed into a warehouse in Boyden Beach, Florida, Monday,

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<v Speaker 12>by a rescue battalion. Chief Max Accidine says it happened

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<v Speaker 12>just after noon upon arrival.

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<v Speaker 7>We did find one small helicopter inside one of the

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<v Speaker 7>buildings that crashed through the roof. There are no survivors.

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<v Speaker 12>The FAA and NTSP or investigating. The Federal Communications Commission

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<v Speaker 12>has ordered a ban on the import of new models

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<v Speaker 12>of foreign produced consumer wireless routers. The move comes after

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<v Speaker 12>an inter agency panel determined the threatened national security. The

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<v Speaker 12>move could dramatically shake up the market for routers, which

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<v Speaker 12>are primarily made overseas. Global news twenty four hours a

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<v Speaker 12>day and whenever you want it with Bloomberg News. Now.

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<v Speaker 12>I'm John Tucker, and this is Bloomberg.

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<v Speaker 2>Karen nys Sean time now for our Bloomberg Sports Update,

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<v Speaker 2>and for that we bring in John stash Hour.

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<v Speaker 10>Thanks Karen. Making twelves great wins for the Oklahoma City Thunder,

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<v Speaker 10>the defending NBA champions who have the best record this year.

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<v Speaker 10>It easy win in Philadelphia. S and Antonio got thirty

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<v Speaker 10>six from Victor Webban Yama in a twenty five point

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<v Speaker 10>rout of Miami. The Lakers nine game win streak came

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<v Speaker 10>to an end, lost by three in Detroit. Three top

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<v Speaker 10>seeds advancing of the Sweet sixteen and the NCAA women's tournament,

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<v Speaker 10>including Yukon, who's undefeated. South Carolina won its game by

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<v Speaker 10>forty also advancing UCLA. That's your Bloomberg Sports update.

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<v Speaker 3>Stay with us.

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<v Speaker 2>More from Bloomberg day Break coming up after this.

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<v Speaker 1>Cost on Bloomberg Radio nationwide on Sirius XM, and around

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<v Speaker 1>the world on Bloomberg dot Com and the Bloomberg Business app.

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<v Speaker 1>This is Bloomberg Daybreak.

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<v Speaker 10>Good morning.

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<v Speaker 3>I'm Nathan Hager on day twenty five of the US

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<v Speaker 3>Israeli war where they ron. Fighting continues across the Middle East,

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<v Speaker 3>even as President Trump says talks are underway to try

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<v Speaker 3>to end the conflict.

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<v Speaker 4>We were planning tomorrow on shooting down some of their

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<v Speaker 4>power plants, and we're not going to be going to

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<v Speaker 4>hold that up. Hopefully we won't.

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<v Speaker 5>Have to do it.

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<v Speaker 3>I was the President at a roundtable discussion yesterday in Memphis.

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<v Speaker 3>This morning, we're joined from Dubai by Bloomberg Middle East

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<v Speaker 3>correspondent Jumana Bursecci, the anchor of Bloomberg Horizons. Jumana, good morning,

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<v Speaker 3>Thanks again for being with us. What is the latest

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<v Speaker 3>in terms of the fighting, Well, if I had.

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<v Speaker 14>To summarize the last twenty four hours, I would say

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<v Speaker 14>there has been an attempt to de escalate or at

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<v Speaker 14>least to reopen the diplomatic channels, but the war is

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<v Speaker 14>still very much ongoing, and what we've seen overnight is

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<v Speaker 14>continual joint U US Israeli military strikes different parts of Iran,

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<v Speaker 14>Iran retaliating against Gulf States, against Tel Aviv, incoming missiles

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<v Speaker 14>intercepted and also one of them actually managing to sustain

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<v Speaker 14>a significant amount of damage on one of the streets

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<v Speaker 14>of Tel Aviv. Sirens going off in Behinan, Kuwait city

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<v Speaker 14>also and more interceptions being reported in Saudi Arabia. So yes,

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<v Speaker 14>there's been an attempt to revive the sort of indirect

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<v Speaker 14>negotiations between US and Iran, but the war still goes on.

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<v Speaker 3>Well, what do't we know, Jumana about these indirect discussions.

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<v Speaker 3>A president seems to be indicating that they've been direct,

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<v Speaker 3>but we've been hearing from Iranian officials that there haven't

0:12:37.200 --> 0:12:39.480
<v Speaker 3>been any discussions either way going on.

0:12:40.640 --> 0:12:43.720
<v Speaker 14>Correct. So we've heard from some official more official voices

0:12:43.760 --> 0:12:46.320
<v Speaker 14>in Iran, including the Speaker of the House and the

0:12:46.320 --> 0:12:48.199
<v Speaker 14>Deputy Speaker of the House, and both of them has

0:12:48.240 --> 0:12:52.600
<v Speaker 14>said that there have been no direct negotiations taking place.

0:12:52.800 --> 0:12:57.400
<v Speaker 14>But later in the evening we understood that several indirect

0:12:57.400 --> 0:13:01.160
<v Speaker 14>mediation attempts have been going on, and this really being

0:13:01.200 --> 0:13:04.760
<v Speaker 14>put forward by the nations in the region that have

0:13:04.880 --> 0:13:07.679
<v Speaker 14>not been targeted by Iran, And here I'm talking about Egypt,

0:13:08.120 --> 0:13:12.360
<v Speaker 14>about Turkey to a certain extent, Oman which is traditionally

0:13:12.360 --> 0:13:15.760
<v Speaker 14>played a mediator role, and even Pakistan looking also to

0:13:15.760 --> 0:13:19.520
<v Speaker 14>get involved in potential mediation talks. We understand that the

0:13:19.559 --> 0:13:22.280
<v Speaker 14>Iranian foreign minister has had talks with several of his

0:13:22.360 --> 0:13:27.280
<v Speaker 14>foreign minister counterparts, but again unclear at this stage what

0:13:27.559 --> 0:13:31.920
<v Speaker 14>the substance of those negotiations entail, and whether or not

0:13:31.920 --> 0:13:34.400
<v Speaker 14>there's going to be some in person meeting later in

0:13:34.440 --> 0:13:37.199
<v Speaker 14>the week, as has been suggested by other outlets.

0:13:37.400 --> 0:13:41.000
<v Speaker 3>Now, what more are we hearing about why the president

0:13:41.160 --> 0:13:44.440
<v Speaker 3>had backed off this threat that we know about from

0:13:44.559 --> 0:13:48.120
<v Speaker 3>last weekend, this forty eight hour ultimatum to go after

0:13:48.200 --> 0:13:49.320
<v Speaker 3>Iran's power plans.

0:13:50.120 --> 0:13:54.280
<v Speaker 14>So our colleagues on Bloomberg News side wrote a very

0:13:54.320 --> 0:13:58.880
<v Speaker 14>interesting article overnight talking about the influence and the pressure

0:13:59.040 --> 0:14:02.600
<v Speaker 14>that Gulf ally is put on President Trump to backtrack

0:14:02.640 --> 0:14:06.560
<v Speaker 14>away from those threats to strike airring and infrastructure particularly

0:14:06.600 --> 0:14:09.840
<v Speaker 14>the power plants because of fears of reprisal. Number one

0:14:10.000 --> 0:14:13.200
<v Speaker 14>about what that could mean for power plants, infrastructure, water

0:14:13.240 --> 0:14:16.800
<v Speaker 14>desalination plants in the region, but also number two, the

0:14:16.840 --> 0:14:20.680
<v Speaker 14>real risk that this could spiral into something short of

0:14:20.760 --> 0:14:23.720
<v Speaker 14>a disaster. This is the quotes from the article, because

0:14:24.200 --> 0:14:27.120
<v Speaker 14>their thinking is, if you continue to wipe out civilian

0:14:27.160 --> 0:14:30.040
<v Speaker 14>infrastructure in Iran, what are the people of Iran going

0:14:30.080 --> 0:14:33.080
<v Speaker 14>to be left with. If you are talking about ultimately

0:14:33.120 --> 0:14:35.440
<v Speaker 14>regime change or uprising on the people, you have to

0:14:35.440 --> 0:14:37.760
<v Speaker 14>give them a chance to be able to live and

0:14:37.840 --> 0:14:41.000
<v Speaker 14>to survive. And if you continue to target civilian infrastructure,

0:14:41.040 --> 0:14:44.080
<v Speaker 14>then you're removing that possibility. The last thing that anyone

0:14:44.080 --> 0:14:47.200
<v Speaker 14>in the region wants is chaos on their doorsteps. So

0:14:47.280 --> 0:14:50.120
<v Speaker 14>it looks as though many of these golf states actually

0:14:50.160 --> 0:14:53.840
<v Speaker 14>did manage to restrain President Trump from going down that path.

0:14:54.000 --> 0:14:57.000
<v Speaker 14>Hence the five day window bit. Again, a lot can

0:14:57.080 --> 0:14:58.480
<v Speaker 14>change in the next couple of days.

0:15:00.280 --> 0:15:03.720
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