1
00:00:01,639 --> 00:00:04,000
Speaker 1: News when you want it with Bloomberg News Now. I'm

2
00:00:04,040 --> 00:00:07,320
Speaker 1: Doug Prisner. Bloomberg News has learned the Department of Justice

3
00:00:07,440 --> 00:00:10,879
Speaker 1: is considering whether to force Alphabet's Google to break up.

4
00:00:11,240 --> 00:00:13,600
Speaker 1: We have more from Bloomberg's Amy Morris in Washington.

5
00:00:13,880 --> 00:00:17,000
Speaker 2: Officials with the DOJ are considering what would be a

6
00:00:17,120 --> 00:00:19,959
Speaker 2: rare bid to break up a big tech company after

7
00:00:20,000 --> 00:00:23,840
Speaker 2: a landmark court ruling found that company monopolized the online

8
00:00:23,880 --> 00:00:27,840
Speaker 2: search market. Sources tell Bloomberg that less severe options include

9
00:00:27,880 --> 00:00:31,280
Speaker 2: forcing Google to share more data with competitors and measures

10
00:00:31,320 --> 00:00:35,040
Speaker 2: to prevent it from gaining an unfair advantage in AI products. Now.

11
00:00:35,040 --> 00:00:37,440
Speaker 2: Even if it does not pursue a breakup, the government

12
00:00:37,440 --> 00:00:40,120
Speaker 2: will likely seek a ban on the type of exclusive

13
00:00:40,200 --> 00:00:43,360
Speaker 2: contracts that were at the center of its case against Google.

14
00:00:43,680 --> 00:00:45,960
Speaker 2: In Washington, Amy Morris, Bloomberg, Radio.

15
00:00:45,800 --> 00:00:48,800
Speaker 1: Shares and Starbucks were up nearly twenty five percent in

16
00:00:48,840 --> 00:00:51,879
Speaker 1: the regular session. After a big change over at the

17
00:00:51,920 --> 00:00:56,240
Speaker 1: c suite, CEO Laxman Narasimmon is out after just over

18
00:00:56,320 --> 00:00:58,800
Speaker 1: a year on the job. Stepping into the role as

19
00:00:58,880 --> 00:01:02,680
Speaker 1: chief executive Office is Brian Nickel. He is currently the

20
00:01:02,720 --> 00:01:07,319
Speaker 1: CEO of Chipotle Mexican Grill. We got some reaction earlier

21
00:01:07,360 --> 00:01:10,800
Speaker 1: from Nancy Tegler, and she was talking about what to

22
00:01:10,880 --> 00:01:11,919
Speaker 1: expect going forward.

23
00:01:12,480 --> 00:01:15,759
Speaker 2: The stock has been a colossal disappointment, as has Laxman.

24
00:01:15,840 --> 00:01:18,080
Speaker 3: I'm sorry to say that, and so it was great

25
00:01:18,080 --> 00:01:20,120
Speaker 3: to see the board take action, though they had to

26
00:01:20,160 --> 00:01:22,320
Speaker 3: be prodded, of course, by activists investors.

27
00:01:22,840 --> 00:01:26,839
Speaker 1: Nancy Tegler there from Laffer Tenglar investors. As she noted,

28
00:01:26,840 --> 00:01:31,200
Speaker 1: Elliott Investment Management and Starboard Value have built up stakes

29
00:01:31,240 --> 00:01:35,560
Speaker 1: in Starbucks. Both are activist investors, Tegler saying that Nickel

30
00:01:35,760 --> 00:01:39,759
Speaker 1: turned Chipotle around and he'll do the same for Starbucks.

31
00:01:39,800 --> 00:01:42,760
Speaker 1: The White House is warning of an Irani attack on Israel,

32
00:01:42,840 --> 00:01:46,360
Speaker 1: perhaps as soon as this week. Here's Bloomberg Sylvia Westall.

33
00:01:46,560 --> 00:01:48,840
Speaker 4: Obviously, there is a real pressure for them to act

34
00:01:49,120 --> 00:01:52,720
Speaker 4: after the killing of the Hamaslita in Tehran. Iran needs

35
00:01:52,760 --> 00:01:55,440
Speaker 4: to show its population, it needs to show regionally that

36
00:01:55,920 --> 00:01:59,160
Speaker 4: it can retaliate to this, but it needs to do

37
00:01:59,240 --> 00:02:02,280
Speaker 4: so in a way that which prevent a really big

38
00:02:03,080 --> 00:02:05,200
Speaker 4: council reaction from Israel.

39
00:02:05,200 --> 00:02:08,880
Speaker 1: That's Bloomberg Sylvia Westal. She tells US Israel's allies are

40
00:02:08,919 --> 00:02:11,520
Speaker 1: doing what they can to prevent a wider war. The

41
00:02:11,639 --> 00:02:14,560
Speaker 1: US has already moved more air and SEE assets into

42
00:02:14,600 --> 00:02:18,080
Speaker 1: the region. Meantime, Axios is reporting the Secretary of State

43
00:02:18,120 --> 00:02:21,840
Speaker 1: Antony Blincoln delayed his trip to the Mideast. Ukraine is

44
00:02:21,840 --> 00:02:25,480
Speaker 1: building on its biggest incursion into Russian territory since the

45
00:02:25,560 --> 00:02:29,520
Speaker 1: invasion back in twenty twenty two. President Vladimir Zelensky has

46
00:02:29,560 --> 00:02:33,400
Speaker 1: instructed his army chief to prepare for more action. Ukrainian

47
00:02:33,440 --> 00:02:37,560
Speaker 1: troops continue to make advances in Russia's Kursk region. Zelenski

48
00:02:37,680 --> 00:02:40,240
Speaker 1: calls the next step key, and he says he's getting

49
00:02:40,320 --> 00:02:44,520
Speaker 1: support from the US. Senator Lindsay Graham praised Ukraine's incursion

50
00:02:44,800 --> 00:02:49,560
Speaker 1: bold and brilliant. Well done. I'm glad you didn't tell

51
00:02:49,600 --> 00:02:51,320
Speaker 1: us bid and I'm glad you just did it.

52
00:02:51,960 --> 00:02:54,640
Speaker 4: And taking this war to Putin to make him understand

53
00:02:54,680 --> 00:02:56,680
Speaker 4: and pay a price is the right thing.

54
00:02:56,720 --> 00:03:00,040
Speaker 1: That Senator Lindsay Graham. US lawmakers are working on a

55
00:03:00,080 --> 00:03:04,720
Speaker 1: new legislation to further American aid to Ukraine. Meantime, according

56
00:03:04,760 --> 00:03:08,080
Speaker 1: to sources, Russian President Vladimir Putin has brought in his

57
00:03:08,240 --> 00:03:11,760
Speaker 1: ex bodyguard to be his eyes and ears in monitoring

58
00:03:11,800 --> 00:03:16,560
Speaker 1: operations to expel Ukrainian forces from Russia. The White House

59
00:03:16,600 --> 00:03:19,560
Speaker 1: is taking another step to boost housing supply as the

60
00:03:19,600 --> 00:03:24,040
Speaker 1: market continues to face elevated mortgage rates and prices. We

61
00:03:24,120 --> 00:03:26,919
Speaker 1: have more from Bloomberg's Nathan Hagar and Washington.

62
00:03:26,639 --> 00:03:29,720
Speaker 3: The Biden administration has announced one hundred million dollars in

63
00:03:29,800 --> 00:03:32,880
Speaker 3: state and local grants for new housing construction. That's on

64
00:03:32,960 --> 00:03:36,080
Speaker 3: top of eighty five million dollars that Vice President Harris

65
00:03:36,120 --> 00:03:39,440
Speaker 3: announced for nineteen states and the District of Columbia in June.

66
00:03:39,680 --> 00:03:42,880
Speaker 3: Right now, a boom and apartment construction is underway and

67
00:03:42,960 --> 00:03:46,320
Speaker 3: rents are stabilizing, but single family home builds are near

68
00:03:46,360 --> 00:03:48,840
Speaker 3: a four year low, and with a deal on housing

69
00:03:48,920 --> 00:03:51,480
Speaker 3: tax credits held up in the Senate, the White House

70
00:03:51,560 --> 00:03:55,080
Speaker 3: is using other tools to keep the pipeline flowing. In Washington,

71
00:03:55,160 --> 00:03:58,240
Speaker 3: I'm Nathan Hager Bloomberg Radio, and that is news when

72
00:03:58,240 --> 00:04:00,840
Speaker 3: you want it with Bloomberg News. Now, I'm Doug Prisoner

73
00:04:00,880 --> 00:04:01,920
Speaker 3: and this is Bloomberg.

74
00:04:03,760 --> 00:04:05,600
Speaker 4: M m hmm.