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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. Karen, we begin with

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Speaker 2: the latest from the Middle East. More sirens are sounding

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Speaker 2: in Gulf Arab countries this morning, after the US wrapped

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Speaker 2: up a thirteenth night of attacks on Iran. The Associated

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Speaker 2: Presses reporting at least seven explosions have been heard near

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Speaker 2: base housing US forces near Urbiel in northern Iraq. That

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Speaker 2: says President Trump told Axios he is close to a

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Speaker 2: decision on a massive attack to try to bring Tehran

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Speaker 2: back to the negotiating table. UN Secretary General Antonio Guterres

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Speaker 2: is calling for diplomacy.

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Speaker 3: The situation he's getting out of control. It's tittering on

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Speaker 3: the edge of an imaginable.

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Speaker 4: The UN Secretary General Antonio Guterra spoke at a Security

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Speaker 4: Council meeting. Bloomberg's owner on reports mediation efforts have proved challenging.

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Speaker 5: The Iraqi Prime Minister did relay a truspropol to Iranians

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Speaker 5: from the US that was flat rejected. That's according to

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Speaker 5: The New York Times. Now the paper doesn't say what

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Speaker 5: exactly the contents of that proposal was but the narrative

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Speaker 5: coming out of Iran suggests that it was a short term,

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Speaker 5: temporary truth under the sixty day Original Truths that has

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Speaker 5: now all but collapsed.

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Speaker 4: And Boomberg zwner On reports in Iranian official is calling

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Speaker 4: that New York Times report quote completely misleading. That's according

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Speaker 4: to Iran state media.

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Speaker 2: In The conflict in the Middle East was just one

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Speaker 2: of the topics that came up at a special town

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Speaker 2: hall last night at United Nations headquarters in New York.

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Speaker 2: Bloomberg hosted six candidates vying to be the next UN

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Speaker 2: Secretary General. Former Coast Rican and Vice President Rebecca Grenspence

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Speaker 2: said the world body needs to be more engaged.

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Speaker 6: We should have engaged very early on with all the

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Speaker 6: actors to try to open up at least for the

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Speaker 6: benefit of the people that are suffering far away from

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Speaker 6: the situation in the state and foremost that is affecting everybody.

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Speaker 2: Along with Costa Rica, as Rebecca Grinspan for UN General

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Speaker 2: Assembly President Maria Fernando Espinoza argued, for a more fundamental issue.

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Speaker 7: Our responsibility is to make the UN relevant again, to deliver,

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Speaker 7: to touch the hearts and souls of people on the ground,

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Speaker 7: to serve people on the ground and not to confuse

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Speaker 7: activity with impact.

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Speaker 2: Also taking part in the UN town hall where Guyana's

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Speaker 2: ambassador Carolyn Rodriguez Berquette, former UN Human Rights Commissioner Michelle

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Speaker 2: Bachillette Mackie saw the former president of Senegal and International

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Speaker 2: Atomic Energy Agency Chief Raphael Grossi.

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Speaker 4: Another major story we're following this morning, Karen, involves global trade.

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Speaker 4: The US has begun collecting new duties on imports from

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Speaker 4: most of its major trading partners, and we get the

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Speaker 4: very latest from Bloomberg's John Tucker, John and Nathan.

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Speaker 8: This is the biggest move yet to try and reconstruct

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Speaker 8: President Trump's taros tarifs that were struck down by the

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Speaker 8: Supreme Court. The administration says it will now collect tariffs

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Speaker 8: of ten to twelve and a half percent on imports.

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Speaker 8: They took effect just after midnight. The administration says these

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Speaker 8: are the result of an investigation into forced labor in

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Speaker 8: supply chains that worked to the detriment of American workers.

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Speaker 8: It comes under section three oh one the nineteen seventy

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Speaker 8: four Trade Act. Now Asian Nations describe the administration's latest

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Speaker 8: tasks as baseless and unjustified, while stopping short of any

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Speaker 8: retaliation at the moment. Ultimately, it is American importers who pay.

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Speaker 8: Settling American importers with costs must carry risk politically for

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Speaker 8: Trump and his fellow Republicans less than four months from

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Speaker 8: midterm elections, with a focus for Democrats, as the elevated

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Speaker 8: cost of living in New York coome John Tucker Bloomberg Radio.

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Speaker 2: John, thank you. The Justice Department is dropping subpoenas to

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Speaker 2: New York Times reporters overstory detailing security concerns at the

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Speaker 2: President Trump'skatari donated Air Force One. The withdrawals came after

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Speaker 2: a federal judge critician the government for sloppy legal work.

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Speaker 2: The Times stories came out after President Trump flew home

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Speaker 2: from Turkey on the old Air Force One, prompting questions

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Speaker 2: about why the new aircraft wasn't used.

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Speaker 4: Certain of the markets now Karen futures are mostly higher

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Speaker 4: this morning, following yesterday's tech field selloff on Wall Street.

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Speaker 4: Helping feel this morning's gains is another tech name, Intel

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Speaker 4: that stuck, is up four percent pre market. The chip

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Speaker 4: maker delivered a revenue forecast that shattered Wall Street estimates

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Speaker 4: as booming data center spending field a long way to

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Speaker 4: turn around. Bloomberg Tech host ed Ludlow has more on

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Speaker 4: the results.

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Speaker 9: The market is a situation where CPU specifically is taking off.

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Speaker 9: For Intel, a lot of their top line performance is

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Speaker 9: answered by that. And in the core to gone, you

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Speaker 9: know that unit's growing fifty nine percent double what the

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Speaker 9: rest of the business is growing at. So they have

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Speaker 9: found their place in that market. But what they're battling

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Speaker 9: to do is improve their own operations, their own foundries,

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Speaker 9: and their own processes so they can get the CPU

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Speaker 9: product and people actually want out there into the real world.

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Speaker 4: And Bloomberg's head Ludlow says Intel sales will be fifteen

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Speaker 4: point eight to sixteen point eight billion dollars in the

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Speaker 4: third quarter. That is above the fifteen point one billion

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Speaker 4: dollar average analyst estament.

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Speaker 2: Nathan it was a bruising session for big tech yesterday.

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Speaker 2: The MAGS seven suffered their biggest one day drop since

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Speaker 2: the tariff sell off in April of last year. The

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Speaker 2: group lost almost eight hundred billion dollars in market value,

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Speaker 2: helping fuel the selloff. Disappointing earnings from Alphabet and Tesla.

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Speaker 2: Wall Street is growing increasingly concerned about one hundreds of

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Speaker 2: billions of dollars big tech is spending on AI all.

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Speaker 4: We're seeing big concerns about the latest surgeon energy prices

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Speaker 4: in the bond market, Karen. The average yield on the

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Speaker 4: Bloomberg Global Treasury Index has searched a three point six

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Speaker 4: eight percent that surpasses a peak from three years ago

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Speaker 4: to reach the highest level since the global financial crisis

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Speaker 4: in two thousand and eight. The pressure on both front

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Speaker 4: and long end yields comes ahead of key central bank

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Speaker 4: decisions next week, including the Bank of Japan, the Bank

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Speaker 4: of England, and the Federal Reserve.

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Speaker 2: There was another setback for SpaceX, Nathan. It's once again

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Speaker 2: dilated starship rocket flight due to unfavorable weather. It will

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Speaker 2: try again this evening. The rocket will be carrying upgraded

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Speaker 2: Starlink satellites that are intended to burn up later in

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Speaker 2: the atmosphere as part of the test mission. SpaceX has

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Speaker 2: lost more than a trillion dollars in market values since

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Speaker 2: its record closed five weeks ago.

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Speaker 4: Now we want to bring you a Bloomberg exclusive from

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Speaker 4: the Big Take, Karen. When the Trump administration shut down,

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Speaker 4: USAID officials rejected warnings that ending the agency's work would

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Speaker 4: put lives at risk. Now, a Bloomberg investigation has linked

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Speaker 4: an unfinished US funded irrigation project in Kenya to the

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Speaker 4: worst flooding one village has experienced in at least a decade.

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Speaker 4: Using interviews, satellite imagery, and government records, Bloomberg found the

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Speaker 4: abandoned project altered the flow of water, destroying crops and

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Speaker 4: fueling outbreaks of disease. Bloomberg Simon Marx worked on the investigation.

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Speaker 3: By pulling out overnight, they were really leaving a project

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Speaker 3: halfway through. So they had conducted a bunch of work

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Speaker 3: to this project, but they had also destroyed a lot

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Speaker 3: of the infrastructure in the area in the hope of

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Speaker 3: renovating it and bringing it back to life later. And

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Speaker 3: that in this case really brought about huge upheaval to

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Speaker 3: the local community because it changed what water was doing

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Speaker 3: within the irrigation scheme.

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Speaker 4: That's Bloomberg Simon Marx. The State Department did not answer

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Speaker 4: detailed questions from Bloomberg about the Kenya project, but it

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Speaker 4: does say that US Foreign Assistance is now more agile,

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Speaker 4: quicker to respond, and more accountable to taxpayers. The agency

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Speaker 4: says its global water strategy is being revised to align

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Speaker 4: with the Trump administration's America First policies, while decisions on

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Speaker 4: water and sanitation programs for twenty twenty six remain under review.

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Speaker 4: You can hear more from Bloomberg's investigation on the latest

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Speaker 4: episode of The Next Africa podcast. You can find that

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Speaker 4: wherever you get your podcasts.

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Speaker 2: Time Now for look at some of the o their

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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 were joined by Bloomberg's Michael Barr Michael

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Speaker 2: good Morning, Good Morning Care.

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Speaker 10: In New York City, police arrested a man in connection

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Speaker 10: with two stabbings on Manhattan's Upper West Side Thursday afternoon

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Speaker 10: and our evaluating weather the attacks amount to hate crimes.

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Speaker 10: Commissioner Jessica Tish said. The victims, an Asian man and

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Speaker 10: a Jewish man, were taken to a hospital and are

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Speaker 10: both expected to survive. According to a person familiar with

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Speaker 10: the investigation, both men are in their fifties. The man

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Speaker 10: arrested was identified as fifty one year old Rouel Morales.

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Speaker 10: During both attacks in Central Park, witnesses said he yield

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Speaker 10: Alahu Akbar Arabic for God is Greatest. In Madison, Wisconsin.

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Speaker 10: The investigation continues into a police involved deadly shooting. The

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Speaker 10: city's mayor says the immediate focus is supporting the family

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Speaker 10: of the homeless man shot, Corey Ruiz, and the community.

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Speaker 10: Madison Council President Sabrina Madison, maybe we need to.

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Speaker 11: Be changed in our stannerds of what it looks like

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Speaker 11: to know that you're fit to be in.

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Speaker 2: Our community, serve in our community, because too often we

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Speaker 2: have a quarry.

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Speaker 10: Madison does not require police to wear body warn cameras.

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Speaker 10: A potential deal between the United States and Saudi Arabia

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Speaker 10: over nuclear energy announced this week has been thrown into question.

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Speaker 10: The agreement would see the US partner with Saudi Arabia

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Speaker 10: on developing the Saudi Civilian Nuclear Energy Program, but the

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Speaker 10: US demands that Saudi Arabia joined the Abraham Accords, which

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Speaker 10: would normalize relations with Israel, as part of the deal.

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Speaker 10: Democratic Representative Alexandria Ocassio Cortez in New York, we.

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Speaker 11: Are seeing an administration whose deals are more incentivized by

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Speaker 11: their desire to get rich on polymarket and crypto than

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Speaker 11: the needs and safety and security of the American people.

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Speaker 11: These deals should be about national interest and Instead, they

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Speaker 11: are about personal enrichment for whoever has an inn in

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Speaker 11: the White House.

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Speaker 10: Saudi Arabia has rejected normalization of diplomatic ties with Israel.

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Speaker 10: Un Less a Palestinian state is recognized Global news twenty

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Speaker 10: four hours a day and whenever you want it with

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Speaker 10: Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 2: Thanks Michael. Time now for our Bloomberg Sports update, and

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Speaker 2: for that we bring in John stash Hour.

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Speaker 12: Just five games on the Major League Baseball schedule on Thursday,

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Speaker 12: with the Brave slipping past the Padre six to five,

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Speaker 12: Twins beating the Guardians three to one and twelve innings,

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Speaker 12: Ray's losing to the Blue Jays three to one, Diamondbacks

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Speaker 12: dominating the Cardinals ten to six, while the Tigers got

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Speaker 12: past the Royals four to three. Baseball's top trade deadline target,

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Speaker 12: two time rating Alesian Award winner Tarek Scooble could be

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Speaker 12: making his final start for the Tigers tonight against the

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Speaker 12: Royals with a trade deadline coming up on August third.

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Speaker 12: Baltimore Ravens waving quarterback Diego Pavia less than three months

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Speaker 12: after signing the Heisman Trophy runner up. As an undrafted

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Speaker 12: free agent, Pavia had made headlines for his perceived cockiness,

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Speaker 12: as well as for criticizing Heisman voters. That's your Bloomberg

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Speaker 12: Sports update.

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Speaker 2: Stay with us more from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio nationwide on Serious Exam

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 4: Good morning, I'm Nathan Hager. After a thirteenth straight night

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Speaker 4: of airstrikes on Iran, President Trump is said to be

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Speaker 4: close to a decision on a massive new attack to

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Speaker 4: try to bring Iran back to the negotiating table. Secretary

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Speaker 4: of State Marco Rubio says he agrees with the President.

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Speaker 4: Iran has not felt enough pain yet.

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Speaker 11: I saw a Rachi, their foreign minister, who who the

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Speaker 11: other day say or something about their policies.

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Speaker 2: An I for an eye.

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Speaker 1: The President's policy is a head for an eye.

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Speaker 4: I was Secretary of State Rubio to the aussion summit

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Speaker 4: in the Philippines. Joining us this morning from Dubai is

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Speaker 4: the head of Middle East coverage for Bloomberg News, Stuart

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Speaker 4: Livingston Wallace Stuart. The interview that the President gave to

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Speaker 4: Axios talking about this massive new attack he's considering has

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Speaker 4: certainly gotten a lot of attention. Where could this be

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Speaker 4: going now?

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Speaker 13: Good morning, Good morning, Nathan. Hard to tell. I mean,

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Speaker 13: there is certainly, I think a sense that more US

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Speaker 13: military equipment is being moved into the region. They obviously

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Speaker 13: already have a great deal here, and not at least

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Speaker 13: those two strike carrier groups that have been sitting in

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Speaker 13: the Arabian Sea for some time now. But again, on

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Speaker 13: the other flip side of this, you know, they already

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Speaker 13: tried a very intense series of bombardments in the first

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Speaker 13: couple of months of the war that didn't really appear

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Speaker 13: to get anywhere far in terms of diminishing Iran's ability

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Speaker 13: to threaten commercial shipping. And you know, the most recent

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Speaker 13: attack around or moves was on Tuesday, which is pretty recently,

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Speaker 13: so again, multiple rounds of attacks, particularly on those coastal

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Speaker 13: areas and military installations along there, don't seem to have

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Speaker 13: had much impact. And frankly, it doesn't take a great

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Speaker 13: deal in the way of threats from the Iranian size

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Speaker 13: to deter shipping. Because again, if I'm the captain of

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Speaker 13: a commercial tanker, commercial container ship. You know, it's not

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Speaker 13: particularly encouraging for me to have to go through there.

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Speaker 13: It clearly is a very dangerous environment.

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Speaker 4: In the meantime, we've seen this report for the New

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Speaker 4: York Times that the US proposed a new ceasefire proposal

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Speaker 4: through Iraq's Prime minister and Iran rejected it. What do

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Speaker 4: we know at this point about mediation efforts even as

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Speaker 4: the fighting continues to go on.

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Speaker 13: I mean, we know that there's been what they characterize

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Speaker 13: exchanges of messages and read into that what you will,

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Speaker 13: rather than negotiations, but clearly neither side are particularly satisfied

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Speaker 13: with the responses they're getting. You would presume, although we

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Speaker 13: don't know for a fact, that there'll be multiple parties

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Speaker 13: involved in this, not least from the Gulf Arab states

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Speaker 13: who obviously are you suffering terribly from this economically, So

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Speaker 13: we know Katar has been pretty involved, Obviously Pakistan is involved,

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Speaker 13: and I'm sure there are many others as well. Clearly,

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Speaker 13: it is in no one's interest within the region for

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Speaker 13: this to escalate further, because again, the damage being caused

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Speaker 13: to their economy is not least because of oil but

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Speaker 13: also gas and container shipping is pretty stole and there

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Speaker 13: needs to be some sort of effort to resolve there,

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Speaker 13: particularly around hall moves. But then obviously there's all this

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Speaker 13: other host of other issues that need to be addressed

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Speaker 13: as well.

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Speaker 4: But when we have the houthis starting to attack shipping

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Speaker 4: in the Red Sea and President Trump threatening to go

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Speaker 4: after one power plant or bridge for every ship that's

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Speaker 4: attacked in the Persian Gulf in our last thirty seconds here, Stuart,

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Speaker 4: what could that mean going forward?

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Speaker 13: I mean that is a deep concern. I mean it

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Speaker 13: is definitely a new front. Now, the Hooties obviously have

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Speaker 13: something of a track record of attacking commercial shipping, but

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Speaker 13: we saw those attacks on at least one Saudi old

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Speaker 13: tanker potentially to a couple of days ago, and that

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Speaker 13: is deeply concerning, and not least because of the offlow,

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Speaker 13: which was something of a lifeline with whole move shop,

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Speaker 13: but also because of the amount of general trade that

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Speaker 13: passes through there, I mean sewers, which is at the

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Speaker 13: top of that stretch water something like one sixth of

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Speaker 13: global trade, that is maritime trade under normal conditions, So

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Speaker 13: that's going to have a ripper Roy's across the global Economy.

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