WEBVTT - Trump Pressures Iran on Blockade; Intel Shares Surge on Earnings

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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 ongoing tensions between the US

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<v Speaker 3>and Iran, with both sides maintaining blockades over the straight

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<v Speaker 3>of horror moves. President Trump has said he will keep

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<v Speaker 3>restrictions in place until Iran comes forward with a new

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<v Speaker 3>peace proposal. At the White House, Bloomberg's Jeff Mason asked

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<v Speaker 3>the President about his timetable.

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<v Speaker 2>How long are you willing to wait until you get a.

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<v Speaker 4>Don't rush me, Jeff. You know guys like you you

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<v Speaker 4>want to say, Oh, so we're in Vietnam, like for

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<v Speaker 4>eighteen years. We're in Iraq for many many years. We're

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<v Speaker 4>in for all the I don't like to say World

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<v Speaker 4>War two because that was a big eat, but we

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<v Speaker 4>were four and a half almost five years in World

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<v Speaker 4>War Two. We were in the Korean War for seven years.

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<v Speaker 4>I've been doing this for six weeks.

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<v Speaker 3>President Trump spoke to Bloomberg White House correspondent Jeff Mason

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<v Speaker 3>in the Oval Office. We get more from Bloomberg's Jumana

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<v Speaker 3>Barcecci in Dubai.

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<v Speaker 5>He's suggesting that we are in the early innings of

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<v Speaker 5>what could be a prolonged conflict. At the same time,

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<v Speaker 5>the Iranian side asserting once again that they're not going

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<v Speaker 5>to go back to the negotiations table until the US

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<v Speaker 5>in the naval boockade is actually lifted. No signs that

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<v Speaker 5>the US have plans to do so, and overnight, I

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<v Speaker 5>also want to join your attention to an article that

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<v Speaker 5>our Bloomberg colleagues put up, also suggesting that the way

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<v Speaker 5>that President Trump has been conducting this, a lot of

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<v Speaker 5>the threats and assertions, the language that he's been using

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<v Speaker 5>on social media has also not been resonating well with

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<v Speaker 5>Iranian officials, and they say that that is actually one

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<v Speaker 5>of the limiting factors that is stopping the two sides

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<v Speaker 5>from getting together at the negotiating table once again.

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<v Speaker 3>Bloomberg's Jumana Barcecci reporting from Dubai. Meantime, President Trump says

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<v Speaker 3>Israel and Lebanon have agreed to extend their ceasefire for

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<v Speaker 3>another three weeks after talks in Washington. There's no immediate

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<v Speaker 3>response from Israel or Iran backed Hezbolla. The militant group

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<v Speaker 3>is not involved in the ceasefire, but has largely abided

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<v Speaker 3>by it.

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<v Speaker 2>Only then the price of oil is set for its

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<v Speaker 2>biggest weekly gain since the first week of the war.

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<v Speaker 2>Right now, NIMEX screwed oil is up one and a

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<v Speaker 2>half percent in ninety seven dollars twenty seven cents a barrel.

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<v Speaker 2>Brent is at one hundred and six dollars eighty eight cents,

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<v Speaker 2>with little sign of de escalation. The effective closure of

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<v Speaker 2>the Straight of Horn Moves is taking an increasing toll

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<v Speaker 2>on global energy markets, and we get more with Bloomberg's

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<v Speaker 2>Will Kennedy in London.

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<v Speaker 6>Going back to last Friday, when the Avanian said the

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<v Speaker 6>Strait was open, there was a really positive reaction from

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<v Speaker 6>oil traders who thought that finally there was the lightly

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<v Speaker 6>resolution and that ships might start leaving the Gulf and

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<v Speaker 6>get back and the energy market could begin the long

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<v Speaker 6>process of getting back to normal. And I think this

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<v Speaker 6>week that optimism has really faded, and we've seen a

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<v Speaker 6>steady of ratcheting up in the oil place.

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<v Speaker 7>As a result.

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<v Speaker 6>It's really worth bearing in mind and that although the

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<v Speaker 6>intense military action the bombing has stopped, the Strait is

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<v Speaker 6>probably more clothes than it ever has been. And when

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<v Speaker 6>not getting the oil and the fuel that we need

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<v Speaker 6>out of the Persian Gulf.

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<v Speaker 2>Bloomberg's Well Kennedy in London. According to Goldman Zachs, the

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<v Speaker 2>Persian Gulf oil supply is about fifty seven percent below

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<v Speaker 2>pre war levels.

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<v Speaker 3>And a new report Karen says the Iran war will

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<v Speaker 3>keep the global natural gas market tight for at least

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<v Speaker 3>two more years. This is according to the International Energy Agency.

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<v Speaker 3>It says the conflict has delayed a long anticipated glot

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<v Speaker 3>in liquefied natural gas, even as new capacity comes online.

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<v Speaker 3>Katar has said Iranian strikes last month damaged about seventeen

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<v Speaker 3>percent of its liquefaction capacity. It says repairs there could

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<v Speaker 3>take as long as five years.

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<v Speaker 2>Meanwhile, Nathan Bloomberg News has learned European Union leaders are

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<v Speaker 2>tasking the bloc's finance ministers to come up with new

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<v Speaker 2>measures to deal with the continent's energy crunch. Bloomberg Chief

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<v Speaker 2>European correspondent and Oliver Crook is covering the EU leader's

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<v Speaker 2>meeting in Cyprus.

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<v Speaker 8>There's, of course, that longer term post to the EU

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<v Speaker 8>will use to say that this is all about electrification.

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<v Speaker 8>In the long term, no matter where your gas is

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<v Speaker 8>coming from whether it's Russia, whether it's the Gulf, and

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<v Speaker 8>increasingly also concerns about the United States. You're not safe

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<v Speaker 8>until your energy autonomous, and that is going to be

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<v Speaker 8>one of their big pushes to try to get that

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<v Speaker 8>energy independence of through electricity and electrification.

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<v Speaker 2>Bloomberd Chief You're of. Correspondent Oliver Crook says gas has

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<v Speaker 2>gained thirty four percent since the conflict started, while renkrude

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<v Speaker 2>has jumped thirty seven percent.

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<v Speaker 7>Well back of the US.

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<v Speaker 3>Karen the Trump administration maybe looking at ways to punish

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<v Speaker 3>NATO allies for what it sees as a lack of

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<v Speaker 3>support for the war. This is according to a report

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<v Speaker 3>from Reuters that says the Pentagon is considering options like

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<v Speaker 3>suspending Spain from the alliance or reviewing the US position

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<v Speaker 3>on the UK's claim to the Falkland Islands. The report

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<v Speaker 3>cites an internal email and a US official. Spanish Prime

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<v Speaker 3>Minister Pedro Sanchez was one of the earliest critics of

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<v Speaker 3>the war. He called it a violation of international law.

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<v Speaker 3>Sanchez says he will ma normal cooperation with NATO allies

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<v Speaker 3>and rely on official positions from Washington, not reports of

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<v Speaker 3>private emails.

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<v Speaker 7>Nathan, a US.

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<v Speaker 2>Soldier involved in the capture of then Venezuela and President

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<v Speaker 2>Nicholas Maduro, has been charged with using classified information to

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<v Speaker 2>win more than four hundred thousand dollars in an online

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<v Speaker 2>betting market. Federal officials say Gan and Ken van Dyke

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<v Speaker 2>placed about thirteen bets in the week leading up to

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<v Speaker 2>the military operation to make money on the prediction market

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<v Speaker 2>side poly market. Van Dyke is a Special Forces soldier

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<v Speaker 2>based in Fort Bragg, North Carolina. The Justice Department says

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<v Speaker 2>he was involved in the planning and execution of the

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<v Speaker 2>Venezuela raid.

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<v Speaker 7>Turn back to markets now, Karen.

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<v Speaker 3>Futures are mixed as we close out the trading week,

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<v Speaker 3>though Nasdaq futures are getting a lift from Intel. Those

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<v Speaker 3>shares wow up twenty four percent in early trading. The

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<v Speaker 3>chipmaker delivered a sales forecast well above analyst estimates. Bloomberg

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<v Speaker 3>Technology host ed Ludlow has more on what's the rally.

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<v Speaker 9>The Intel story is a CPU story. So in the

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<v Speaker 9>world of AI, when we move from a place where

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<v Speaker 9>a lot of the activity is focused on training to

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<v Speaker 9>inference running the AI models, Intel's feeling that benefit and frankly,

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<v Speaker 9>they are struggling to keep up with the CPU demand.

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<v Speaker 9>That's kind of the core story. Margins were better in

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<v Speaker 9>the court gone largely because of higher revenues, But the

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<v Speaker 9>outlook for the current period on sales, that's the driver.

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<v Speaker 9>It is the AI and data center segment.

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<v Speaker 7>Bloomberg Tech said.

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<v Speaker 3>Ludlow says the upbeat outlook suggests Intel CEO Lip Bhutan

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<v Speaker 3>is making progress on his plan to improve Intel's operations.

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<v Speaker 2>Nathan, the Intel results may fuel another record setting day

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<v Speaker 2>for chip stocks. The Philadelphia Semiconductor Index is coming off

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<v Speaker 2>a record seventeen straight winning sessions. It's at more than

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<v Speaker 2>thirty percent already in April.

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<v Speaker 3>Karen, two mammoth tech companies are cutting jobs to help

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<v Speaker 3>offset AI investments.

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<v Speaker 7>We get the story from Bloomberg's Charlie Pellett.

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<v Speaker 10>At Microsoft, the early retirement offer wet out to thousands

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<v Speaker 10>of employees in the US, with about seven percent of

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<v Speaker 10>the US workforce eligible for the buyouts. The company had

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<v Speaker 10>one hundred and twenty five thousand employees in the US

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<v Speaker 10>as of June twenty twenty five, meaning about eight seven

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<v Speaker 10>hundred and fifty workers could be eligible. Meanwhile, Meta Platforms

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<v Speaker 10>plans to cut ten percent of its workers in an

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<v Speaker 10>effort to boost efficiency and offset its heavy spending on

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<v Speaker 10>artificial intelligence.

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<v Speaker 7>In New York.

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<v Speaker 10>Charlie Pellett Bloomberg Radio.

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<v Speaker 2>Time Now for look at some of the other stories

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

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<v Speaker 2>for that we're joined by Bloomberg's Michael Barr. Michael, Good Morning, Good.

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<v Speaker 11>Morning, Karen. The NTSB says a firefighter whose truck collided

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<v Speaker 11>with an Air Canada jet last month on a runway

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<v Speaker 11>at New York's LaGuardia Airport heard an air traffic controller

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<v Speaker 11>warren stop stop, stop, but did not know who it

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<v Speaker 11>was for. That's according to an investigative report released on Thursday.

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<v Speaker 11>The NTSB said in a preliminary report on the March

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<v Speaker 11>twenty second accident that a crash prevention system for air

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<v Speaker 11>traffic controllers did not generate an audio or visual alert.

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<v Speaker 11>The report said the truck started moving while warning lights

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<v Speaker 11>that act as a stop sign for crossing traffic were

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<v Speaker 11>still lit. Both Air Canada pilots were killed. One person

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<v Speaker 11>has died and five others were hurt when gunfire erupted

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<v Speaker 11>at the Mall of Louisiana Baton Rouge. Police say yesterday's

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<v Speaker 11>shooting was not a random act of violence, but a

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<v Speaker 11>disagreement between two groups of people that ended with gunfire.

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<v Speaker 11>Police Chief TJ. Moore says an officer who is always

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<v Speaker 11>stationed at the mall was able to respond immediately.

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<v Speaker 3>This is early in an investigation.

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<v Speaker 7>We have five people in custody.

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<v Speaker 3>We're still trying to unravel their exact involvement in this.

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<v Speaker 11>Chief Moore says, so far, no charges have been filed.

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<v Speaker 11>A search and rescue operation is underway in Enitt, Oklahoma,

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<v Speaker 11>where a large, violent tornado touched down last night. Mayor

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<v Speaker 11>David Mason says that the tornado struck on the south

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<v Speaker 11>side of the rural town. He says police did get

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<v Speaker 11>some people out of homes that sustained heavy damage.

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<v Speaker 10>They were doing search and rescue.

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<v Speaker 2>We have now backed him out so that OSPAK come

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<v Speaker 2>into a secondary search and dude in quadrats.

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<v Speaker 11>Mayor Mason says there are reports of minor injuries. Global

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<v Speaker 11>News twenty four hours a day and whenever you wanted

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<v Speaker 11>with the Bloomberg News. Now now Michael Barr and this

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<v Speaker 11>is Bloomberg.

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<v Speaker 7>Hearen.

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<v Speaker 2>Thanks Michael, time now for our Bloomberg Sports update and

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

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<v Speaker 12>Hour, Thanks Karen. Indiana won the national championship in college football.

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<v Speaker 12>Fernando Mendoza was their Heinsman Trophy winning star quarterback and

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<v Speaker 12>as everyone expected, he was the first player taken in

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<v Speaker 12>the draft underway last night in Pittsburgh. He goes to

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<v Speaker 12>the Las Vegas Raiders. Meanwhile, Ohio State had four players

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<v Speaker 12>taken in the first eleven picks. Home team's one of

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<v Speaker 12>the NBA Playoffs Atlanta, a second straight one point went

0:09:56.559 --> 0:10:00.160
<v Speaker 12>over the Knicks. Toronto beat Cleveland, Minnesota beat dem for

0:10:00.280 --> 0:10:02.959
<v Speaker 12>the road teams all one in the Stanley Cup Playoffs.

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<v Speaker 12>That's to Bloomberg Sports Update.

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<v Speaker 2>Stay with us more from Bloomberg day Break coming up after.

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<v Speaker 1>This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 7>Good morning. I'm Nathan Hager.

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<v Speaker 3>The standoff continues between the US and Iran, now more

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<v Speaker 3>than two weeks into a ceasefire that has turned into

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<v Speaker 3>a test of wills over the Strait of Horror moves.

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<v Speaker 3>But President Trump says he's in no hurry to reach

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<v Speaker 3>a deal with Tehran.

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<v Speaker 4>I don't want to rush it.

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<v Speaker 7>I want to take my time.

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<v Speaker 4>We have plenty of time, and I want to get

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<v Speaker 4>a great deal.

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<v Speaker 3>That was President Trump speaking to reporters yesterday in the

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<v Speaker 3>Oval Office. Joining us this morning from Dubai is Bloomberg

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<v Speaker 3>Middle East correspondent and Bloomberg Horizons anchor Jumana Bursecchi. Jumana,

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<v Speaker 3>is there any sense that Iran is in a hurry

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<v Speaker 3>to reach a deal? Good morning, Good morning.

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<v Speaker 13>Well, no sense whatsoever that there's going to be an

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<v Speaker 13>imminent other round of discussions. But again, it's one of

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<v Speaker 13>those situations where we won't know until we're informed, and

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<v Speaker 13>we know that the Pakistani mediators are really trying hard

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<v Speaker 13>to bring the two sides back together again. Just an

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<v Speaker 13>hour ago at Pakistani media outlets are reporting that once

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<v Speaker 13>again the Prime Minister had been reaching out to senior

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<v Speaker 13>Iranian officials to see what can be done to bridge

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<v Speaker 13>the gap between the two sides. But essentially here and

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<v Speaker 13>here I'm talking about proceeding to the next phase of discussions.

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<v Speaker 13>The main sticking point is the Strait and we've heard

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<v Speaker 13>from the Iranians multiple times of the course of this

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<v Speaker 13>week and they say that they will not be progressing

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<v Speaker 13>to the second round of discussions so long as the

0:11:45.080 --> 0:11:47.920
<v Speaker 13>US naval boockade is in place. President Trump, you played

0:11:47.920 --> 0:11:50.040
<v Speaker 13>a bit of his comments there. He was saying that

0:11:50.360 --> 0:11:52.640
<v Speaker 13>they're not going to open the boockade or lift the

0:11:52.679 --> 0:11:55.480
<v Speaker 13>boockade until Iran sign on to a deal. So it's

0:11:55.480 --> 0:11:58.640
<v Speaker 13>a bit of a chicken and egg situation here as stalemates,

0:11:58.840 --> 0:12:02.000
<v Speaker 13>so to speak. And the question from here is, you know,

0:12:02.080 --> 0:12:03.679
<v Speaker 13>what shakes the stillmates?

0:12:04.600 --> 0:12:06.079
<v Speaker 7>That is the question, isn't it?

0:12:06.240 --> 0:12:10.160
<v Speaker 3>Because we've heard from President Trump escalating his rhetoric on

0:12:10.320 --> 0:12:14.480
<v Speaker 3>social media, talking about the Navy being ordered to shoot

0:12:14.640 --> 0:12:16.520
<v Speaker 3>boats that lay minds in the Strait.

0:12:16.880 --> 0:12:20.120
<v Speaker 7>What impact is the president's war of words having.

0:12:21.760 --> 0:12:24.320
<v Speaker 13>Yes, So we are out with some reporting overnight our

0:12:24.400 --> 0:12:29.360
<v Speaker 13>colleagues in Bloomberg on the b In side, and they're

0:12:29.679 --> 0:12:33.559
<v Speaker 13>suggesting that, you know, they've had conversations with the Iranian sources,

0:12:33.679 --> 0:12:37.880
<v Speaker 13>with Arab officials, and the feedback is that a lot

0:12:38.040 --> 0:12:40.840
<v Speaker 13>of the language and the rhetoric that President Trump has

0:12:40.880 --> 0:12:43.319
<v Speaker 13>been using on his social media has not gone down

0:12:43.400 --> 0:12:46.439
<v Speaker 13>well at all. The threats, the threat and the threat

0:12:46.559 --> 0:12:52.320
<v Speaker 13>to wipe out civilization him proclaiming that Iran had made

0:12:52.400 --> 0:12:55.679
<v Speaker 13>all of these concessions and yielded to US demands. That

0:12:55.920 --> 0:12:59.040
<v Speaker 13>is riling them up and is also another reason potentially

0:12:59.320 --> 0:13:01.280
<v Speaker 13>for you know, the these talks being held up. Not

0:13:01.440 --> 0:13:05.000
<v Speaker 13>only is it about the blockade, but also about President

0:13:05.040 --> 0:13:08.800
<v Speaker 13>Trump's personal style too, which could also be a complicating

0:13:08.880 --> 0:13:10.520
<v Speaker 13>factor in terms of where we go next.

0:13:10.640 --> 0:13:15.040
<v Speaker 3>Yes, in the meantime, we've had talks between Israel and

0:13:15.160 --> 0:13:19.679
<v Speaker 3>Lebanon in Washington. The President says that ceasefires being extended

0:13:19.760 --> 0:13:22.840
<v Speaker 3>in our last minute jumana. Could that break the dam

0:13:23.080 --> 0:13:24.280
<v Speaker 3>between the US and Iran.

0:13:25.760 --> 0:13:29.760
<v Speaker 13>It doesn't likely to be the case, because the US

0:13:29.960 --> 0:13:33.400
<v Speaker 13>have been trying to separate the two tracks, so to speak,

0:13:33.480 --> 0:13:36.800
<v Speaker 13>So there are two parallel tracks going on here. Welcome news,

0:13:36.840 --> 0:13:41.719
<v Speaker 13>of course for Lebanon and for the region that the

0:13:41.800 --> 0:13:45.240
<v Speaker 13>sea is fire between Lebanon and Israel. Orbit I should

0:13:45.240 --> 0:13:48.320
<v Speaker 13>say between Lebanon's Hezbala and Israel has been extended by

0:13:48.360 --> 0:13:50.880
<v Speaker 13>another three weeks. But I should just emphasize these are

0:13:51.040 --> 0:13:55.920
<v Speaker 13>still preliminary discussions and there are still blows being exchanged

0:13:55.920 --> 0:13:59.280
<v Speaker 13>in the southern part of Lebanon, where Israel has established

0:13:59.800 --> 0:14:02.000
<v Speaker 13>a what they would call a buffer zone and security

0:14:02.080 --> 0:14:05.160
<v Speaker 13>zone up to a yellow line, and because of that,

0:14:05.320 --> 0:14:08.520
<v Speaker 13>many people in Lebanon are very uncomfortable about whether the

0:14:08.640 --> 0:14:10.880
<v Speaker 13>ceasefire is actually going to hold. But the point is

0:14:11.000 --> 0:14:13.800
<v Speaker 13>the two sides actually are speaking, and what the US

0:14:13.920 --> 0:14:16.400
<v Speaker 13>is trying to do here is to separate the issue

0:14:16.840 --> 0:14:19.960
<v Speaker 13>and let Lebanon States handle it as opposed to Iran

0:14:20.760 --> 0:14:22.720
<v Speaker 13>act as an agent on behalf of Hesbala.

0:14:24.320 --> 0:14:27.720
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