Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Karen, we begin with the ongoing tensions between the US
Speaker 3: and Iran, with both sides maintaining blockades over the straight
Speaker 3: of horror moves. President Trump has said he will keep
Speaker 3: restrictions in place until Iran comes forward with a new
Speaker 3: peace proposal. At the White House, Bloomberg's Jeff Mason asked
Speaker 3: the President about his timetable.
Speaker 2: How long are you willing to wait until you get a.
Speaker 4: Don't rush me, Jeff. You know guys like you you
Speaker 4: want to say, Oh, so we're in Vietnam, like for
Speaker 4: eighteen years. We're in Iraq for many many years. We're
Speaker 4: in for all the I don't like to say World
Speaker 4: War two because that was a big eat, but we
Speaker 4: were four and a half almost five years in World
Speaker 4: War Two. We were in the Korean War for seven years.
Speaker 4: I've been doing this for six weeks.
Speaker 3: President Trump spoke to Bloomberg White House correspondent Jeff Mason
Speaker 3: in the Oval Office. We get more from Bloomberg's Jumana
Speaker 3: Barcecci in Dubai.
Speaker 5: He's suggesting that we are in the early innings of
Speaker 5: what could be a prolonged conflict. At the same time,
Speaker 5: the Iranian side asserting once again that they're not going
Speaker 5: to go back to the negotiations table until the US
Speaker 5: in the naval boockade is actually lifted. No signs that
Speaker 5: the US have plans to do so, and overnight, I
Speaker 5: also want to join your attention to an article that
Speaker 5: our Bloomberg colleagues put up, also suggesting that the way
Speaker 5: that President Trump has been conducting this, a lot of
Speaker 5: the threats and assertions, the language that he's been using
Speaker 5: on social media has also not been resonating well with
Speaker 5: Iranian officials, and they say that that is actually one
Speaker 5: of the limiting factors that is stopping the two sides
Speaker 5: from getting together at the negotiating table once again.
Speaker 3: Bloomberg's Jumana Barcecci reporting from Dubai. Meantime, President Trump says
Speaker 3: Israel and Lebanon have agreed to extend their ceasefire for
Speaker 3: another three weeks after talks in Washington. There's no immediate
Speaker 3: response from Israel or Iran backed Hezbolla. The militant group
Speaker 3: is not involved in the ceasefire, but has largely abided
Speaker 3: by it.
Speaker 2: Only then the price of oil is set for its
Speaker 2: biggest weekly gain since the first week of the war.
Speaker 2: Right now, NIMEX screwed oil is up one and a
Speaker 2: half percent in ninety seven dollars twenty seven cents a barrel.
Speaker 2: Brent is at one hundred and six dollars eighty eight cents,
Speaker 2: with little sign of de escalation. The effective closure of
Speaker 2: the Straight of Horn Moves is taking an increasing toll
Speaker 2: on global energy markets, and we get more with Bloomberg's
Speaker 2: Will Kennedy in London.
Speaker 6: Going back to last Friday, when the Avanian said the
Speaker 6: Strait was open, there was a really positive reaction from
Speaker 6: oil traders who thought that finally there was the lightly
Speaker 6: resolution and that ships might start leaving the Gulf and
Speaker 6: get back and the energy market could begin the long
Speaker 6: process of getting back to normal. And I think this
Speaker 6: week that optimism has really faded, and we've seen a
Speaker 6: steady of ratcheting up in the oil place.
Speaker 7: As a result.
Speaker 6: It's really worth bearing in mind and that although the
Speaker 6: intense military action the bombing has stopped, the Strait is
Speaker 6: probably more clothes than it ever has been. And when
Speaker 6: not getting the oil and the fuel that we need
Speaker 6: out of the Persian Gulf.
Speaker 2: Bloomberg's Well Kennedy in London. According to Goldman Zachs, the
Speaker 2: Persian Gulf oil supply is about fifty seven percent below
Speaker 2: pre war levels.
Speaker 3: And a new report Karen says the Iran war will
Speaker 3: keep the global natural gas market tight for at least
Speaker 3: two more years. This is according to the International Energy Agency.
Speaker 3: It says the conflict has delayed a long anticipated glot
Speaker 3: in liquefied natural gas, even as new capacity comes online.
Speaker 3: Katar has said Iranian strikes last month damaged about seventeen
Speaker 3: percent of its liquefaction capacity. It says repairs there could
Speaker 3: take as long as five years.
Speaker 2: Meanwhile, Nathan Bloomberg News has learned European Union leaders are
Speaker 2: tasking the bloc's finance ministers to come up with new
Speaker 2: measures to deal with the continent's energy crunch. Bloomberg Chief
Speaker 2: European correspondent and Oliver Crook is covering the EU leader's
Speaker 2: meeting in Cyprus.
Speaker 8: There's, of course, that longer term post to the EU
Speaker 8: will use to say that this is all about electrification.
Speaker 8: In the long term, no matter where your gas is
Speaker 8: coming from whether it's Russia, whether it's the Gulf, and
Speaker 8: increasingly also concerns about the United States. You're not safe
Speaker 8: until your energy autonomous, and that is going to be
Speaker 8: one of their big pushes to try to get that
Speaker 8: energy independence of through electricity and electrification.
Speaker 2: Bloomberd Chief You're of. Correspondent Oliver Crook says gas has
Speaker 2: gained thirty four percent since the conflict started, while renkrude
Speaker 2: has jumped thirty seven percent.
Speaker 7: Well back of the US.
Speaker 3: Karen the Trump administration maybe looking at ways to punish
Speaker 3: NATO allies for what it sees as a lack of
Speaker 3: support for the war. This is according to a report
Speaker 3: from Reuters that says the Pentagon is considering options like
Speaker 3: suspending Spain from the alliance or reviewing the US position
Speaker 3: on the UK's claim to the Falkland Islands. The report
Speaker 3: cites an internal email and a US official. Spanish Prime
Speaker 3: Minister Pedro Sanchez was one of the earliest critics of
Speaker 3: the war. He called it a violation of international law.
Speaker 3: Sanchez says he will ma normal cooperation with NATO allies
Speaker 3: and rely on official positions from Washington, not reports of
Speaker 3: private emails.
Speaker 7: Nathan, a US.
Speaker 2: Soldier involved in the capture of then Venezuela and President
Speaker 2: Nicholas Maduro, has been charged with using classified information to
Speaker 2: win more than four hundred thousand dollars in an online
Speaker 2: betting market. Federal officials say Gan and Ken van Dyke
Speaker 2: placed about thirteen bets in the week leading up to
Speaker 2: the military operation to make money on the prediction market
Speaker 2: side poly market. Van Dyke is a Special Forces soldier
Speaker 2: based in Fort Bragg, North Carolina. The Justice Department says
Speaker 2: he was involved in the planning and execution of the
Speaker 2: Venezuela raid.
Speaker 7: Turn back to markets now, Karen.
Speaker 3: Futures are mixed as we close out the trading week,
Speaker 3: though Nasdaq futures are getting a lift from Intel. Those
Speaker 3: shares wow up twenty four percent in early trading. The
Speaker 3: chipmaker delivered a sales forecast well above analyst estimates. Bloomberg
Speaker 3: Technology host ed Ludlow has more on what's the rally.
Speaker 9: The Intel story is a CPU story. So in the
Speaker 9: world of AI, when we move from a place where
Speaker 9: a lot of the activity is focused on training to
Speaker 9: inference running the AI models, Intel's feeling that benefit and frankly,
Speaker 9: they are struggling to keep up with the CPU demand.
Speaker 9: That's kind of the core story. Margins were better in
Speaker 9: the court gone largely because of higher revenues, But the
Speaker 9: outlook for the current period on sales, that's the driver.
Speaker 9: It is the AI and data center segment.
Speaker 7: Bloomberg Tech said.
Speaker 3: Ludlow says the upbeat outlook suggests Intel CEO Lip Bhutan
Speaker 3: is making progress on his plan to improve Intel's operations.
Speaker 2: Nathan, the Intel results may fuel another record setting day
Speaker 2: for chip stocks. The Philadelphia Semiconductor Index is coming off
Speaker 2: a record seventeen straight winning sessions. It's at more than
Speaker 2: thirty percent already in April.
Speaker 3: Karen, two mammoth tech companies are cutting jobs to help
Speaker 3: offset AI investments.
Speaker 7: We get the story from Bloomberg's Charlie Pellett.
Speaker 10: At Microsoft, the early retirement offer wet out to thousands
Speaker 10: of employees in the US, with about seven percent of
Speaker 10: the US workforce eligible for the buyouts. The company had
Speaker 10: one hundred and twenty five thousand employees in the US
Speaker 10: as of June twenty twenty five, meaning about eight seven
Speaker 10: hundred and fifty workers could be eligible. Meanwhile, Meta Platforms
Speaker 10: plans to cut ten percent of its workers in an
Speaker 10: effort to boost efficiency and offset its heavy spending on
Speaker 10: artificial intelligence.
Speaker 7: In New York.
Speaker 10: Charlie Pellett Bloomberg Radio.
Speaker 2: Time Now for look at some of the other stories
Speaker 2: making news in New York and around the world. And
Speaker 2: for that we're joined by Bloomberg's Michael Barr. Michael, Good Morning, Good.
Speaker 11: Morning, Karen. The NTSB says a firefighter whose truck collided
Speaker 11: with an Air Canada jet last month on a runway
Speaker 11: at New York's LaGuardia Airport heard an air traffic controller
Speaker 11: warren stop stop, stop, but did not know who it
Speaker 11: was for. That's according to an investigative report released on Thursday.
Speaker 11: The NTSB said in a preliminary report on the March
Speaker 11: twenty second accident that a crash prevention system for air
Speaker 11: traffic controllers did not generate an audio or visual alert.
Speaker 11: The report said the truck started moving while warning lights
Speaker 11: that act as a stop sign for crossing traffic were
Speaker 11: still lit. Both Air Canada pilots were killed. One person
Speaker 11: has died and five others were hurt when gunfire erupted
Speaker 11: at the Mall of Louisiana Baton Rouge. Police say yesterday's
Speaker 11: shooting was not a random act of violence, but a
Speaker 11: disagreement between two groups of people that ended with gunfire.
Speaker 11: Police Chief TJ. Moore says an officer who is always
Speaker 11: stationed at the mall was able to respond immediately.
Speaker 3: This is early in an investigation.
Speaker 7: We have five people in custody.
Speaker 3: We're still trying to unravel their exact involvement in this.
Speaker 11: Chief Moore says, so far, no charges have been filed.
Speaker 11: A search and rescue operation is underway in Enitt, Oklahoma,
Speaker 11: where a large, violent tornado touched down last night. Mayor
Speaker 11: David Mason says that the tornado struck on the south
Speaker 11: side of the rural town. He says police did get
Speaker 11: some people out of homes that sustained heavy damage.
Speaker 10: They were doing search and rescue.
Speaker 2: We have now backed him out so that OSPAK come
Speaker 2: into a secondary search and dude in quadrats.
Speaker 11: Mayor Mason says there are reports of minor injuries. Global
Speaker 11: News twenty four hours a day and whenever you wanted
Speaker 11: with the Bloomberg News. Now now Michael Barr and this
Speaker 11: is Bloomberg.
Speaker 7: Hearen.
Speaker 2: Thanks Michael, time now for our Bloomberg Sports update and
Speaker 2: for that we bring in John stash.
Speaker 12: Hour, Thanks Karen. Indiana won the national championship in college football.
Speaker 12: Fernando Mendoza was their Heinsman Trophy winning star quarterback and
Speaker 12: as everyone expected, he was the first player taken in
Speaker 12: the draft underway last night in Pittsburgh. He goes to
Speaker 12: the Las Vegas Raiders. Meanwhile, Ohio State had four players
Speaker 12: taken in the first eleven picks. Home team's one of
Speaker 12: the NBA Playoffs Atlanta, a second straight one point went
Speaker 12: over the Knicks. Toronto beat Cleveland, Minnesota beat dem for
Speaker 12: the road teams all one in the Stanley Cup Playoffs.
Speaker 12: That's to Bloomberg Sports Update.
Speaker 2: Stay with us more from Bloomberg day Break coming up after.
Speaker 1: This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 7: Good morning. I'm Nathan Hager.
Speaker 3: The standoff continues between the US and Iran, now more
Speaker 3: than two weeks into a ceasefire that has turned into
Speaker 3: a test of wills over the Strait of Horror moves.
Speaker 3: But President Trump says he's in no hurry to reach
Speaker 3: a deal with Tehran.
Speaker 4: I don't want to rush it.
Speaker 7: I want to take my time.
Speaker 4: We have plenty of time, and I want to get
Speaker 4: a great deal.
Speaker 3: That was President Trump speaking to reporters yesterday in the
Speaker 3: Oval Office. Joining us this morning from Dubai is Bloomberg
Speaker 3: Middle East correspondent and Bloomberg Horizons anchor Jumana Bursecchi. Jumana,
Speaker 3: is there any sense that Iran is in a hurry
Speaker 3: to reach a deal? Good morning, Good morning.
Speaker 13: Well, no sense whatsoever that there's going to be an
Speaker 13: imminent other round of discussions. But again, it's one of
Speaker 13: those situations where we won't know until we're informed, and
Speaker 13: we know that the Pakistani mediators are really trying hard
Speaker 13: to bring the two sides back together again. Just an
Speaker 13: hour ago at Pakistani media outlets are reporting that once
Speaker 13: again the Prime Minister had been reaching out to senior
Speaker 13: Iranian officials to see what can be done to bridge
Speaker 13: the gap between the two sides. But essentially here and
Speaker 13: here I'm talking about proceeding to the next phase of discussions.
Speaker 13: The main sticking point is the Strait and we've heard
Speaker 13: from the Iranians multiple times of the course of this
Speaker 13: week and they say that they will not be progressing
Speaker 13: to the second round of discussions so long as the
Speaker 13: US naval boockade is in place. President Trump, you played
Speaker 13: a bit of his comments there. He was saying that
Speaker 13: they're not going to open the boockade or lift the
Speaker 13: boockade until Iran sign on to a deal. So it's
Speaker 13: a bit of a chicken and egg situation here as stalemates,
Speaker 13: so to speak. And the question from here is, you know,
Speaker 13: what shakes the stillmates?
Speaker 7: That is the question, isn't it?
Speaker 3: Because we've heard from President Trump escalating his rhetoric on
Speaker 3: social media, talking about the Navy being ordered to shoot
Speaker 3: boats that lay minds in the Strait.
Speaker 7: What impact is the president's war of words having.
Speaker 13: Yes, So we are out with some reporting overnight our
Speaker 13: colleagues in Bloomberg on the b In side, and they're
Speaker 13: suggesting that, you know, they've had conversations with the Iranian sources,
Speaker 13: with Arab officials, and the feedback is that a lot
Speaker 13: of the language and the rhetoric that President Trump has
Speaker 13: been using on his social media has not gone down
Speaker 13: well at all. The threats, the threat and the threat
Speaker 13: to wipe out civilization him proclaiming that Iran had made
Speaker 13: all of these concessions and yielded to US demands. That
Speaker 13: is riling them up and is also another reason potentially
Speaker 13: for you know, the these talks being held up. Not
Speaker 13: only is it about the blockade, but also about President
Speaker 13: Trump's personal style too, which could also be a complicating
Speaker 13: factor in terms of where we go next.
Speaker 3: Yes, in the meantime, we've had talks between Israel and
Speaker 3: Lebanon in Washington. The President says that ceasefires being extended
Speaker 3: in our last minute jumana. Could that break the dam
Speaker 3: between the US and Iran.
Speaker 13: It doesn't likely to be the case, because the US
Speaker 13: have been trying to separate the two tracks, so to speak,
Speaker 13: So there are two parallel tracks going on here. Welcome news,
Speaker 13: of course for Lebanon and for the region that the
Speaker 13: sea is fire between Lebanon and Israel. Orbit I should
Speaker 13: say between Lebanon's Hezbala and Israel has been extended by
Speaker 13: another three weeks. But I should just emphasize these are
Speaker 13: still preliminary discussions and there are still blows being exchanged
Speaker 13: in the southern part of Lebanon, where Israel has established
Speaker 13: a what they would call a buffer zone and security
Speaker 13: zone up to a yellow line, and because of that,
Speaker 13: many people in Lebanon are very uncomfortable about whether the
Speaker 13: ceasefire is actually going to hold. But the point is
Speaker 13: the two sides actually are speaking, and what the US
Speaker 13: is trying to do here is to separate the issue
Speaker 13: and let Lebanon States handle it as opposed to Iran
Speaker 13: act as an agent on behalf of Hesbala.
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