1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:10,000 --> 00:00:13,160 Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 3 00:00:13,200 --> 00:00:14,920 Speaker 2: are the stories we're following today. 4 00:00:15,120 --> 00:00:17,360 Speaker 3: Karen Oil is on the rise this morning as well. 5 00:00:17,400 --> 00:00:21,320 Speaker 3: That follows a CNN report citing new US intelligence suggesting 6 00:00:21,640 --> 00:00:25,960 Speaker 3: Israel is preparing for a potential strike on Iran's nuclear facilities. 7 00:00:26,200 --> 00:00:29,440 Speaker 3: We get more from Bloomberg Middle East correspondent Dana Kraze. 8 00:00:29,760 --> 00:00:32,240 Speaker 4: It's not clear that Israel had made a final decision 9 00:00:32,280 --> 00:00:35,600 Speaker 4: on that, and there was quote deep on disagreements within 10 00:00:35,640 --> 00:00:39,120 Speaker 4: the administration about whether or the likelihood that Israel will 11 00:00:39,200 --> 00:00:42,840 Speaker 4: ultimately go ahead and attack a nuclear facility in Iran. 12 00:00:43,280 --> 00:00:45,760 Speaker 4: This option has always been on the table for both 13 00:00:45,840 --> 00:00:49,159 Speaker 4: Israel and the US. Israel thinks that Iran's nuclear program 14 00:00:49,159 --> 00:00:53,120 Speaker 4: and its entirety, threatened its existence. We know Israel would 15 00:00:53,159 --> 00:00:56,360 Speaker 4: do it, but many have said that if Israel would 16 00:00:56,360 --> 00:00:58,600 Speaker 4: go ahead with that, it won't do it without US approval, 17 00:00:58,920 --> 00:01:00,760 Speaker 4: And that's of course the big question here. 18 00:01:00,920 --> 00:01:02,720 Speaker 5: Would the US give the go ahead for that? 19 00:01:03,040 --> 00:01:06,000 Speaker 3: Bloomberg Standard Crez says an attack by Israel would add 20 00:01:06,040 --> 00:01:08,399 Speaker 3: to unrest in the Middle East, which supplies about a 21 00:01:08,440 --> 00:01:11,400 Speaker 3: third of the world's crued and checking prices. Right now, 22 00:01:11,480 --> 00:01:14,000 Speaker 3: Nymex Crud's up one and a half percent, or ninety 23 00:01:14,000 --> 00:01:16,919 Speaker 3: four cents hired sixty two dollars ninety seven cents per barrel. 24 00:01:17,200 --> 00:01:19,560 Speaker 3: Brent crude is up one point four percent at sixty 25 00:01:19,680 --> 00:01:21,679 Speaker 3: six dollars twenty eight cents. 26 00:01:22,080 --> 00:01:24,720 Speaker 5: Now to the latest from Washington, D C. Nathan. 27 00:01:24,840 --> 00:01:27,319 Speaker 2: Right now, members of the House Rules Committee are debating 28 00:01:27,360 --> 00:01:31,119 Speaker 2: President trump so called Big Beautiful Tax and Spending Cut bill. 29 00:01:31,520 --> 00:01:33,959 Speaker 2: They scheduled this session at one o'clock in the morning 30 00:01:34,000 --> 00:01:37,080 Speaker 2: after the President made a personal appearance on Capitol Hill 31 00:01:37,480 --> 00:01:41,400 Speaker 2: to pressure Republicans to put their differences aside over the legislation. 32 00:01:41,760 --> 00:01:44,680 Speaker 6: We want to benefit Republicans because they are the ones 33 00:01:44,720 --> 00:01:46,360 Speaker 6: that are going to make America great again. 34 00:01:46,800 --> 00:01:48,760 Speaker 7: The Democrats are destroying our country. 35 00:01:49,200 --> 00:01:52,720 Speaker 2: President Trump, heard alive here on Bloomberg, says Republicans from 36 00:01:52,800 --> 00:01:55,559 Speaker 2: high tax states who are pushing for a higher state 37 00:01:55,600 --> 00:01:59,160 Speaker 2: and local tax deduction should accept the thirty thousand dollars 38 00:01:59,200 --> 00:02:01,880 Speaker 2: cap in the bill that's three times higher than the 39 00:02:01,880 --> 00:02:06,040 Speaker 2: current ten thousand dollars limit. New York Republican Nicole Meliatakis 40 00:02:06,120 --> 00:02:07,200 Speaker 2: says she agrees. 41 00:02:07,600 --> 00:02:11,240 Speaker 8: You know a thirty thousand dollars deduction on salt not 42 00:02:11,280 --> 00:02:14,520 Speaker 8: only covers ninety eight percent of my district, but it'll 43 00:02:14,520 --> 00:02:17,639 Speaker 8: put thousands of dollars into the pockets of my constituents, 44 00:02:17,680 --> 00:02:19,919 Speaker 8: allowing them to keep more of their hard earned money. 45 00:02:20,280 --> 00:02:23,920 Speaker 2: In New York's Nicole Meliatakis appeared on Bloomberg's Balance of Power. 46 00:02:23,960 --> 00:02:27,680 Speaker 2: But a higher salt cap could anger ultra conservatives concerned 47 00:02:27,680 --> 00:02:29,560 Speaker 2: about the size of the tax cuts. 48 00:02:29,680 --> 00:02:32,480 Speaker 3: Here and we turned to a developing story. Now, Andrew Cuomo, 49 00:02:32,520 --> 00:02:34,799 Speaker 3: who's running for mayor of New York City, is reportedly 50 00:02:34,880 --> 00:02:38,600 Speaker 3: under criminal investigation at the Justice Department. Let's get the 51 00:02:38,680 --> 00:02:41,360 Speaker 3: very latest with Bloomberg's John Tucker, John. 52 00:02:41,320 --> 00:02:43,400 Speaker 9: And Nathan is the New York Times that says the 53 00:02:43,440 --> 00:02:47,720 Speaker 9: Trump Administration's Department of Justice has opened in investigation into 54 00:02:47,760 --> 00:02:51,480 Speaker 9: the former governor. It concerns his testimony to Congress during 55 00:02:51,480 --> 00:02:54,880 Speaker 9: the coronavirus pandemic. Cuomo was forced to defend how he 56 00:02:54,960 --> 00:02:57,640 Speaker 9: handled the spread of the virus in nursing homes. It 57 00:02:57,680 --> 00:03:02,040 Speaker 9: was at a politically charged hearing last year. Republicans accused 58 00:03:02,080 --> 00:03:06,120 Speaker 9: him of lying. Cuomo spokesman says this is lawfair and 59 00:03:06,360 --> 00:03:10,079 Speaker 9: election interference plan and simple. Now, the reported investigation into 60 00:03:10,160 --> 00:03:13,519 Speaker 9: Cuomo comes in the wake of the Trump administration ordering 61 00:03:13,600 --> 00:03:18,560 Speaker 9: federal prosecutors to drop a corruption case against Mayor Eric Adams. Well, 62 00:03:18,560 --> 00:03:21,800 Speaker 9: that has sparked concerned among Democrats, but the presidents using 63 00:03:21,840 --> 00:03:25,959 Speaker 9: the judicial system for political purposes. Both Adams and Cuomo 64 00:03:26,080 --> 00:03:28,360 Speaker 9: are running for mayor in the upcoming New York election, 65 00:03:28,720 --> 00:03:31,359 Speaker 9: and Cuomo's leading all the candidate has seen the polling, 66 00:03:31,480 --> 00:03:34,640 Speaker 9: including Adams in New York. I'm John Tucker, Bloomberg Radio. 67 00:03:34,920 --> 00:03:35,760 Speaker 5: All right, John, thank you. 68 00:03:35,800 --> 00:03:38,080 Speaker 2: Well, let's start to the Marcus now, where futures are 69 00:03:38,160 --> 00:03:41,160 Speaker 2: lower following the first loss for stocks in six sessions. 70 00:03:41,160 --> 00:03:43,120 Speaker 2: The S and P five hundred and found four tenths 71 00:03:43,120 --> 00:03:46,560 Speaker 2: of up percent. Morgan Stanley chief US equity strategist Mike 72 00:03:46,600 --> 00:03:48,640 Speaker 2: Wilson thinks stocks are heading higher. 73 00:03:48,760 --> 00:03:52,560 Speaker 10: If you think about this administration, they came in doing 74 00:03:52,600 --> 00:03:56,720 Speaker 10: all the sort of growth negative policy changes. The start, 75 00:03:57,440 --> 00:04:00,800 Speaker 10: you could say the president is acting a new CEO. 76 00:04:00,920 --> 00:04:03,440 Speaker 10: He's coming in sort of kitchen sinking it. And then 77 00:04:03,760 --> 00:04:07,760 Speaker 10: in the second half is when the more positive strategies 78 00:04:07,880 --> 00:04:10,520 Speaker 10: or policies will start to flow through things like deregulation. 79 00:04:11,000 --> 00:04:13,520 Speaker 10: We think they'll be success in passing this tax bill 80 00:04:13,600 --> 00:04:15,080 Speaker 10: or budget reconciliation. 81 00:04:15,840 --> 00:04:19,160 Speaker 2: Morgan Stanley, Chief, you have secretary strategist Mike Wilson forecast 82 00:04:19,200 --> 00:04:21,039 Speaker 2: the s and P five hundred. I'll be at sixty 83 00:04:21,080 --> 00:04:23,640 Speaker 2: five hundred by the second quarter of twenty twenty six. 84 00:04:23,960 --> 00:04:26,400 Speaker 2: That's about ten percent higher than current levels. 85 00:04:26,720 --> 00:04:28,880 Speaker 3: Well, Karen, Tesla was the only one of the so 86 00:04:28,960 --> 00:04:32,640 Speaker 3: called Magnificent seven stocks that rose yesterday, gained a half percent. 87 00:04:32,920 --> 00:04:35,880 Speaker 3: That came after CEO Elon Musk said he's committed to 88 00:04:35,960 --> 00:04:39,920 Speaker 3: leading the company for the next five years. Speaking exclusively 89 00:04:39,960 --> 00:04:42,640 Speaker 3: to Bloomberg at the Cultro Economic Forum, the billionaire, who 90 00:04:42,640 --> 00:04:45,600 Speaker 3: has been Tesla's CEO since two thousand and eight, dismissed 91 00:04:45,640 --> 00:04:47,880 Speaker 3: concerns over falling sales in Europe. 92 00:04:48,080 --> 00:04:49,240 Speaker 7: Europe is our weakness market. 93 00:04:49,360 --> 00:04:55,000 Speaker 11: We're stronger everywhere else, so NOWDA sales are doing well 94 00:04:55,000 --> 00:04:59,680 Speaker 11: at this point, anticipate any meaningful sales shortfall. 95 00:05:00,080 --> 00:05:02,920 Speaker 3: I was Tesla's CEO Elon Musk, speaking with Bloomberg's Michelle 96 00:05:02,960 --> 00:05:06,040 Speaker 3: Hussain at the Coatro Economic Forum. For their full conversation 97 00:05:06,320 --> 00:05:09,279 Speaker 3: to the Bloomberg podcast page on YouTube. 98 00:05:08,920 --> 00:05:11,719 Speaker 2: That's turned to the economy Now. Nathan and Bridgewater Associates 99 00:05:11,760 --> 00:05:14,279 Speaker 2: founder Ray Dahalio says the FED should. 100 00:05:14,000 --> 00:05:15,839 Speaker 5: Not be cutting interest rates right now. 101 00:05:16,120 --> 00:05:18,960 Speaker 2: He spoke to Bloomberg and Ali Bosik at BMP Parabas 102 00:05:19,000 --> 00:05:21,960 Speaker 2: Annual Global Electric Vehicle and Mobility Conference. 103 00:05:22,520 --> 00:05:26,440 Speaker 6: I think the markets if they were to see a 104 00:05:27,279 --> 00:05:32,560 Speaker 6: too aggressive cut and monetary policy two inappropriate cut, that 105 00:05:32,640 --> 00:05:35,400 Speaker 6: it would actually bear be bad for the bottom. 106 00:05:35,120 --> 00:05:37,760 Speaker 2: Market and Ray Dalio, they're speaking with the Bloomberg and 107 00:05:37,880 --> 00:05:41,120 Speaker 2: Ali Basik. That full conversation also available to watch on 108 00:05:41,160 --> 00:05:43,120 Speaker 2: the Bloomberg podcast page on YouTube. 109 00:05:43,360 --> 00:05:45,679 Speaker 3: Later this week, care and we're expecting a conversation between 110 00:05:45,720 --> 00:05:48,720 Speaker 3: Treasury Secretary Scott Bessant and the Chancellor of the Exchequer 111 00:05:48,720 --> 00:05:51,080 Speaker 3: of the UK, Rachel Reeves. Going be on the sidelines 112 00:05:51,120 --> 00:05:53,599 Speaker 3: of the Group of Seven Finance Ministers meeting in Canada, 113 00:05:53,640 --> 00:05:57,320 Speaker 3: their first in person discussion since the US and Britain 114 00:05:57,320 --> 00:06:00,000 Speaker 3: announced it an outline for a trade deal. Earlier this week, 115 00:06:00,360 --> 00:06:02,760 Speaker 3: we get more from Bloomberg to James Wilcock in London. 116 00:06:03,000 --> 00:06:05,760 Speaker 12: It was hailed as a full and comprehensive trade deal 117 00:06:05,880 --> 00:06:08,880 Speaker 12: by US President Donald Trump, but the UK and the 118 00:06:08,960 --> 00:06:11,839 Speaker 12: US still haven't set a date for when twer productions 119 00:06:11,880 --> 00:06:14,719 Speaker 12: will come into effects. The two sides are also working 120 00:06:14,760 --> 00:06:17,880 Speaker 12: through sticky differences on how to regulate big tech and 121 00:06:17,920 --> 00:06:22,000 Speaker 12: potential taxes on the pharmaceutical industry. Both sides enjoyed the 122 00:06:22,000 --> 00:06:25,320 Speaker 12: showmanship of announcing a first post Liberation Day trade deal, 123 00:06:25,640 --> 00:06:28,040 Speaker 12: but now the question is when does the detail arrive 124 00:06:28,440 --> 00:06:30,760 Speaker 12: in London. James Wilcock, Bloomberg Radio. 125 00:06:30,920 --> 00:06:31,880 Speaker 5: All right, James, thank you. 126 00:06:31,880 --> 00:06:35,039 Speaker 2: While there's new tensions between the US and China weeks 127 00:06:35,080 --> 00:06:38,440 Speaker 2: after their trade truth, the Chinese Commerce Ministry is threatening 128 00:06:38,520 --> 00:06:43,840 Speaker 2: legal action against anyone that enforces the Trump administration's export controls. 129 00:06:43,279 --> 00:06:44,520 Speaker 5: On Wahwait ships. 130 00:06:44,560 --> 00:06:47,360 Speaker 2: A statement from the agency says that curbs could violate 131 00:06:47,480 --> 00:06:51,080 Speaker 2: China's anti foreign sanctions law and undermine the latest trade. 132 00:06:50,880 --> 00:06:51,880 Speaker 5: Talks in Geneva. 133 00:06:52,000 --> 00:06:54,760 Speaker 2: The US Commerce Department had warned that using Wahwait ships 134 00:06:54,800 --> 00:06:58,120 Speaker 2: anywhere in the world would violate export controls, but it 135 00:06:58,200 --> 00:07:00,800 Speaker 2: later removed that place reference. 136 00:07:04,080 --> 00:07:04,720 Speaker 5: Time Now for a. 137 00:07:04,640 --> 00:07:06,360 Speaker 2: Look at some of the other stories making news in 138 00:07:06,400 --> 00:07:07,920 Speaker 2: New York and around the world, and for that we're 139 00:07:08,000 --> 00:07:09,479 Speaker 2: joined by Bloomberg's Michael Barr. 140 00:07:09,560 --> 00:07:11,320 Speaker 5: Michael, good morning, Good morning, Karen. 141 00:07:11,440 --> 00:07:14,880 Speaker 13: The Federal Aviation Administration is cutting the number of flights 142 00:07:14,920 --> 00:07:18,480 Speaker 13: at Newark Airport after a number of air traffic control issues. 143 00:07:18,800 --> 00:07:21,240 Speaker 13: Bloomberg's Lisa Matteo has the details. 144 00:07:21,760 --> 00:07:24,520 Speaker 14: The FAA said it will allow a maximum of twenty 145 00:07:24,520 --> 00:07:27,800 Speaker 14: eight arrivals per hour at the airport through June fifteenth, 146 00:07:27,840 --> 00:07:31,640 Speaker 14: when daily construction on one of its runways ends. After that, 147 00:07:31,840 --> 00:07:34,280 Speaker 14: thirty four planes will be permitted to land each hour 148 00:07:34,440 --> 00:07:38,679 Speaker 14: until October twenty fifth. Aviation safety regulators are also taking 149 00:07:38,680 --> 00:07:42,560 Speaker 14: steps to upgrade the infrastructure and increase staffing. The moves 150 00:07:42,600 --> 00:07:46,480 Speaker 14: come after technology outages and staffing issues cause hundreds of 151 00:07:46,520 --> 00:07:50,720 Speaker 14: flight cancelations and delays. Lisa Matteo Bloomberg Radio. 152 00:07:51,360 --> 00:07:55,640 Speaker 13: Leaders of the Congressional Black Caucus, Democratic Women's Caucus, Congressional 153 00:07:55,720 --> 00:08:00,360 Speaker 13: Progressive Caucus, and Democratic members of New Jersey's Congressional Delation 154 00:08:00,720 --> 00:08:04,680 Speaker 13: held a news conference in support of Democratic Representative Lamonica 155 00:08:04,760 --> 00:08:09,040 Speaker 13: mc ivor Thedjy charge of the New Jersey congresswoman with 156 00:08:09,080 --> 00:08:13,760 Speaker 13: allegedly assaulting law enforcement officers outside an iced attention facility 157 00:08:13,800 --> 00:08:17,080 Speaker 13: earlier this month. New Jersey Senator Corey Booker. 158 00:08:17,040 --> 00:08:23,160 Speaker 15: Fear is understandable, but fear that freezes is unacceptable. We 159 00:08:23,240 --> 00:08:26,680 Speaker 15: need to turn our fear into fight understanding that the 160 00:08:26,680 --> 00:08:30,080 Speaker 15: other side of fear is courage. 161 00:08:30,120 --> 00:08:33,520 Speaker 13: Senator Booker used to be the mayor of Newark. The 162 00:08:33,559 --> 00:08:37,000 Speaker 13: mother of Cassie Ventura says she paid rap mogul Sean 163 00:08:37,040 --> 00:08:39,920 Speaker 13: Diddy Combs twenty thousand dollars in twenty eleven when he 164 00:08:39,960 --> 00:08:42,800 Speaker 13: demanded the money because he was mad that her daughter 165 00:08:42,960 --> 00:08:47,480 Speaker 13: had started dating someone else. Regina Ventura testify that she 166 00:08:47,640 --> 00:08:50,760 Speaker 13: made the payment fearing for her daughter's safety. She said 167 00:08:50,800 --> 00:08:53,640 Speaker 13: Combs return the money days later. Combs has pleaded not 168 00:08:53,720 --> 00:08:58,000 Speaker 13: guilty to sex trafficking and racketeering charges. George went who 169 00:08:58,040 --> 00:09:01,600 Speaker 13: played the beer loving Norm Peters on the hit nineteen 170 00:09:01,720 --> 00:09:04,480 Speaker 13: eighties TV comedy series Cheers, has. 171 00:09:04,400 --> 00:09:10,720 Speaker 7: Nined Know then Joe, Start your taps. 172 00:09:10,920 --> 00:09:14,720 Speaker 13: When earned six straight Emmy Award nominations for Best Supporting 173 00:09:14,760 --> 00:09:17,640 Speaker 13: Actor in the Comedy Series. He also crafted a stage 174 00:09:17,679 --> 00:09:20,600 Speaker 13: career that took him to Broadway. George Went West seventy 175 00:09:20,640 --> 00:09:23,600 Speaker 13: six Global News twenty four hours a day and whenever 176 00:09:23,679 --> 00:09:26,040 Speaker 13: you want it with Bloomberg News Now. I'm Michael Barr, 177 00:09:26,080 --> 00:09:27,640 Speaker 13: and this is Bloomberg Karen. 178 00:09:27,920 --> 00:09:29,320 Speaker 5: All right, Michael Barr, thank you. 179 00:09:34,200 --> 00:09:36,559 Speaker 2: Time now for the Bloomberg Sports update. Here shout and 180 00:09:36,640 --> 00:09:38,640 Speaker 2: stash hour John Giburning, do you want to hear it? 181 00:09:38,720 --> 00:09:41,480 Speaker 16: In Boston and Mets played the game without any one 182 00:09:41,640 --> 00:09:44,719 Speaker 16: solo lack of hustle issues, but also without any met run. 183 00:09:44,800 --> 00:09:48,080 Speaker 16: Shut out by seven Red Sox pitchers held only four hits. 184 00:09:48,080 --> 00:09:50,480 Speaker 16: The Socks hit two solo home runs at the fifth 185 00:09:50,480 --> 00:09:52,680 Speaker 16: inning off Clay Holmes and won two nothing to get 186 00:09:52,679 --> 00:09:55,280 Speaker 16: back to five hundred. For the slumping Mets, it's their 187 00:09:55,320 --> 00:09:56,760 Speaker 16: first three game losing streak. 188 00:09:56,800 --> 00:09:57,760 Speaker 13: In their last six. 189 00:09:57,600 --> 00:10:01,040 Speaker 16: Games, five losses and not a single home run hit. 190 00:10:01,120 --> 00:10:03,560 Speaker 16: The Mets had gone six games without a homer in 191 00:10:03,600 --> 00:10:07,079 Speaker 16: ten years. The Yankees hosting Texas, they did leave the 192 00:10:07,200 --> 00:10:08,840 Speaker 16: yard high. 193 00:10:08,640 --> 00:10:14,040 Speaker 3: Drive right field, Glarcia turns look see ya into the 194 00:10:14,080 --> 00:10:17,480 Speaker 3: second deep Rice the Rice with a solo shot. 195 00:10:17,760 --> 00:10:19,040 Speaker 7: Kankees lead one nothing. 196 00:10:19,120 --> 00:10:21,240 Speaker 16: I'm the s Network In eighth in a two run 197 00:10:21,280 --> 00:10:24,199 Speaker 16: over by Aaron Judges. Sixteenth, Yanks beat the Rangers five 198 00:10:24,240 --> 00:10:25,880 Speaker 16: to two. They had a shutout until two outs of 199 00:10:25,880 --> 00:10:28,600 Speaker 16: the ninth. Yanks move a season high nine games over 200 00:10:28,640 --> 00:10:31,280 Speaker 16: five hundred. Nationals beat the Braves five to three. Dodgers 201 00:10:31,280 --> 00:10:34,120 Speaker 16: beat Arizona and tennings to end their four game losing three. 202 00:10:34,320 --> 00:10:36,880 Speaker 16: NBA Playoffs, Game one in the West Oklahoma City, down 203 00:10:37,000 --> 00:10:39,520 Speaker 16: four and a half, time won the second half from 204 00:10:39,559 --> 00:10:43,360 Speaker 16: Minnesota seventy to forty one. Game one one, fourteen to 205 00:10:43,400 --> 00:10:45,560 Speaker 16: eighty eight at the Guard of Tonight, the first Knicks 206 00:10:45,559 --> 00:10:48,640 Speaker 16: Conference finals game in twenty five years. The last one 207 00:10:48,720 --> 00:10:51,800 Speaker 16: was also against Indiana, and Tom Thibodeaux back then was 208 00:10:51,840 --> 00:10:53,160 Speaker 16: a Knicks assistant. 209 00:10:53,280 --> 00:10:55,440 Speaker 17: I think that's what makes the playoffs so great is 210 00:10:55,480 --> 00:10:59,839 Speaker 17: the competition. People want to see a great competition. I think, 211 00:11:00,880 --> 00:11:03,680 Speaker 17: you know, oftentimes style of play can change. It could 212 00:11:03,679 --> 00:11:07,280 Speaker 17: be fast paced, sometimes it's slow paced. The nineties it 213 00:11:07,480 --> 00:11:09,880 Speaker 17: was a crawl. Now the game's a lot faster, a 214 00:11:09,960 --> 00:11:14,040 Speaker 17: lot more skilled. It's different, but the competition part was 215 00:11:14,080 --> 00:11:14,720 Speaker 17: always the same. 216 00:11:14,920 --> 00:11:17,080 Speaker 16: That series back in two thousand and ended a run 217 00:11:17,120 --> 00:11:19,280 Speaker 16: with a Nixon. Pacers met in the playoffs six times 218 00:11:19,320 --> 00:11:21,160 Speaker 16: in eight years. Stanley Cup Playoffs, Game one of the 219 00:11:21,200 --> 00:11:23,640 Speaker 16: East Florida won five to two at Carolina. The NFL 220 00:11:23,720 --> 00:11:27,680 Speaker 16: voted to allow its players to play Olympic flag football 221 00:11:27,720 --> 00:11:30,800 Speaker 16: in twenty twenty eight in Los Angeles. Sam Stashaway Bloomberg 222 00:11:30,840 --> 00:11:32,040 Speaker 16: Sports Karen Nathan. 223 00:11:34,600 --> 00:11:38,800 Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Sirius XM 224 00:11:38,920 --> 00:11:41,760 Speaker 1: and around the world on Bloomberg dot Com and the 225 00:11:41,760 --> 00:11:43,040 Speaker 1: Bloomberg Business app. 226 00:11:43,280 --> 00:11:44,840 Speaker 5: This is Bloomberg Daybreak. 227 00:11:44,960 --> 00:11:48,080 Speaker 3: Good morning, I'm Nathan Hager. Geopolitical tensions maybe adding a 228 00:11:48,120 --> 00:11:50,559 Speaker 3: new headwind to the market this morning on reports US 229 00:11:50,600 --> 00:11:54,320 Speaker 3: intelligence could be pointing to Israel preparing for an attack 230 00:11:54,720 --> 00:11:58,640 Speaker 3: on Iran's nuclear facilities. The report has oil prices moving 231 00:11:58,720 --> 00:12:01,640 Speaker 3: higher this morning. Or We're joined by Bloomberg's News director 232 00:12:01,679 --> 00:12:05,000 Speaker 3: for Europe, the Middle East and Africa, Rosalind Mathis and 233 00:12:05,160 --> 00:12:06,000 Speaker 3: Roz Good morning. 234 00:12:06,040 --> 00:12:07,079 Speaker 5: What do we know about this? 235 00:12:07,200 --> 00:12:10,839 Speaker 3: A CNN report that Israel could be making these preparations. 236 00:12:11,840 --> 00:12:14,520 Speaker 18: Well, in fact, there's been these reports periodically for quite 237 00:12:14,520 --> 00:12:19,280 Speaker 18: some months now that Israel is looking more in depth 238 00:12:19,320 --> 00:12:23,760 Speaker 18: at the possibility of making a strike on Iran's nuclear facilities. 239 00:12:23,840 --> 00:12:25,400 Speaker 18: We saw this with some of the tit for tat 240 00:12:25,480 --> 00:12:29,440 Speaker 18: strikes that happened between the two countries last year, and 241 00:12:29,520 --> 00:12:31,640 Speaker 18: whether this would be one of the options that came 242 00:12:32,120 --> 00:12:34,920 Speaker 18: onto the table. So in essence, in itself, the fact 243 00:12:34,920 --> 00:12:37,200 Speaker 18: that Israel is looking at this is nothing new, and 244 00:12:37,240 --> 00:12:40,319 Speaker 18: you can see the oil didn't move massively on it 245 00:12:40,679 --> 00:12:43,280 Speaker 18: as a result. So maybe the markets doesn't think that 246 00:12:43,400 --> 00:12:47,000 Speaker 18: something is imminent. The question is there is anything shifting 247 00:12:47,040 --> 00:12:51,480 Speaker 18: in the Israeli thinking on this as part of these reports. 248 00:12:51,559 --> 00:12:54,840 Speaker 18: Is this pointing to them perhaps hardening their position towards 249 00:12:54,840 --> 00:12:58,560 Speaker 18: something and if so, why would that be happening. Is 250 00:12:58,600 --> 00:13:01,880 Speaker 18: it because that the Israeli administration of Benjamin Etnier, who 251 00:13:02,040 --> 00:13:06,400 Speaker 18: is frustrated with the situation in Gaza. You know, they 252 00:13:06,400 --> 00:13:09,400 Speaker 18: are talking about a much bigger scale military operation there 253 00:13:09,440 --> 00:13:13,560 Speaker 18: against hamas they feel that Iran has been weakened and 254 00:13:13,640 --> 00:13:18,160 Speaker 18: their proxies in recent times. They're worried about the pathway 255 00:13:18,200 --> 00:13:22,760 Speaker 18: towards nuclear enrichment and see perhaps a window closing for 256 00:13:22,840 --> 00:13:24,559 Speaker 18: them to take action against. 257 00:13:24,280 --> 00:13:25,360 Speaker 5: These nuclear sites. 258 00:13:25,840 --> 00:13:27,520 Speaker 18: So it's a bit hard to know if there's been 259 00:13:27,559 --> 00:13:30,520 Speaker 18: a shift in the calculus for Israel and whether this 260 00:13:30,679 --> 00:13:33,520 Speaker 18: is becoming more of a prospect, but to say it 261 00:13:33,559 --> 00:13:35,760 Speaker 18: has been something we know that they've discussed on and 262 00:13:35,840 --> 00:13:38,800 Speaker 18: off for quite some time. What we need to understand 263 00:13:38,840 --> 00:13:41,120 Speaker 18: is whether there's anything that has changed that might make 264 00:13:41,160 --> 00:13:42,079 Speaker 18: this more realistic. 265 00:13:42,320 --> 00:13:45,360 Speaker 3: And I guess what could be feeding into that potential 266 00:13:45,480 --> 00:13:49,880 Speaker 3: calculus riz is the sort of frame of the relationship 267 00:13:49,920 --> 00:13:52,000 Speaker 3: that we've started to see just a bit some evidence 268 00:13:52,000 --> 00:13:55,439 Speaker 3: of that, at least between Israel and the Trump administration, 269 00:13:55,679 --> 00:14:00,240 Speaker 3: as these nuclear talks with Iran have been going on, right, 270 00:14:00,280 --> 00:14:00,440 Speaker 3: And a. 271 00:14:00,440 --> 00:14:03,960 Speaker 18: Key faturalist would also be, you know, the US perspective, 272 00:14:04,160 --> 00:14:06,120 Speaker 18: because as you say, there has seemed to be a 273 00:14:06,160 --> 00:14:09,480 Speaker 18: bit of a cooling between Donald Trump and Benjamin Netanya, 274 00:14:09,520 --> 00:14:13,760 Speaker 18: who Donald Trump frustrated about the fact there's not a 275 00:14:13,840 --> 00:14:18,440 Speaker 18: holding ceasefire for Gaza. And also he's talking about trying 276 00:14:18,440 --> 00:14:21,760 Speaker 18: to get an Iran deal done while warning you know 277 00:14:21,920 --> 00:14:24,440 Speaker 18: that if Iran doesn't come to the table that he'll 278 00:14:24,480 --> 00:14:27,520 Speaker 18: revert to a maximust posture. So it's very clear also 279 00:14:27,560 --> 00:14:30,840 Speaker 18: from Donald Trump's visit to the region last week, he 280 00:14:30,920 --> 00:14:34,240 Speaker 18: was talking about a message of wanting stability, relative stability 281 00:14:34,800 --> 00:14:37,280 Speaker 18: in the region. He wants to focus on business, trade, 282 00:14:37,320 --> 00:14:41,840 Speaker 18: investment ties, the Abraham Accords, and you know, if Israel 283 00:14:41,960 --> 00:14:45,400 Speaker 18: does make a move against Iran's nuclear facilities, all of 284 00:14:45,400 --> 00:14:50,479 Speaker 18: that's probably off the table. It would be dramatic escalation militarily. 285 00:14:50,600 --> 00:14:52,960 Speaker 18: So be very interesting to know what, if anything, the 286 00:14:53,040 --> 00:14:55,480 Speaker 18: US messaging to Israel. 287 00:14:55,120 --> 00:14:55,520 Speaker 5: Is on this. 288 00:14:55,720 --> 00:14:59,120 Speaker 18: Does he say, you know to Benjamin ettiaw you go ahead, 289 00:14:59,120 --> 00:15:03,040 Speaker 18: but make it quick get it done equally. Israel militarily 290 00:15:03,240 --> 00:15:07,160 Speaker 18: would probably require outside help to make such an attack 291 00:15:07,240 --> 00:15:10,040 Speaker 18: on these facilities. They're very deep in the ground, they're 292 00:15:10,160 --> 00:15:12,320 Speaker 18: very hard to get to, and would other countries be 293 00:15:12,400 --> 00:15:15,640 Speaker 18: willing to provide that support, including the US. So there's 294 00:15:15,680 --> 00:15:18,920 Speaker 18: a lot we don't know here about the pathway towards 295 00:15:19,000 --> 00:15:23,160 Speaker 18: potential action. Nothing does seem imminent from Israel on it, 296 00:15:23,200 --> 00:15:24,640 Speaker 18: but it's interesting to see it again. 297 00:15:24,680 --> 00:15:26,200 Speaker 7: It appears to be in the ETHO. 298 00:15:27,280 --> 00:15:31,200 Speaker 3: Appreciate the debrief as always. Ros Matheson, Bloomberg News Director 299 00:15:31,240 --> 00:15:34,080 Speaker 3: for Europe, the Middle East and Africa with us this 300 00:15:34,240 --> 00:15:37,440 Speaker 3: morning and on these reports, Karen, we are seeing crudal 301 00:15:37,520 --> 00:15:40,760 Speaker 3: prices move higher on the session. Right now, nimex is 302 00:15:40,840 --> 00:15:43,640 Speaker 3: up one point seven percent, just above sixty three dollars 303 00:15:43,680 --> 00:15:44,120 Speaker 3: a barrel. 304 00:15:44,640 --> 00:15:46,280 Speaker 2: Well, Nathan, we also want to repeat some of our 305 00:15:46,320 --> 00:15:49,560 Speaker 2: top stories this morning. President Trump is telling Republicans not 306 00:15:49,760 --> 00:15:52,320 Speaker 2: to let the state and local tax deduction or custom 307 00:15:52,320 --> 00:15:55,000 Speaker 2: medicaid get in the way of passing his tax cut bill. 308 00:15:55,320 --> 00:15:57,480 Speaker 2: The House Rules Committee is debating it right now. 309 00:15:57,600 --> 00:16:01,000 Speaker 3: The Justice Departments reportedly investigating former New York Governor Andrew 310 00:16:01,040 --> 00:16:04,680 Speaker 3: Cuomo over his Congressional testimony about actions during COVID. Cuomo 311 00:16:04,800 --> 00:16:07,160 Speaker 3: is now accusing GJ of interfering with his run for 312 00:16:07,200 --> 00:16:08,320 Speaker 3: New York City mayor. 313 00:16:08,400 --> 00:16:09,880 Speaker 5: And futures they're moving lower. 314 00:16:09,920 --> 00:16:12,520 Speaker 2: After Wall Street six day winning run came to an 315 00:16:12,600 --> 00:16:15,760 Speaker 2: end yesterday, Bridgewater founder Ray Dalio says now is not 316 00:16:15,880 --> 00:16:18,200 Speaker 2: the time for the FED to cut rates, and we 317 00:16:18,240 --> 00:16:20,960 Speaker 2: have more on those stories coming up on Bloomberg Daybreak, 318 00:16:21,000 --> 00:16:23,520 Speaker 2: But now we want to turn our discussion to Tesla 319 00:16:23,680 --> 00:16:26,880 Speaker 2: founder and the world's richest man, Elon Musk. He joined 320 00:16:26,880 --> 00:16:30,360 Speaker 2: our Michelle Hussein for a discussion at the Cutter Economic Forum. 321 00:16:30,400 --> 00:16:33,880 Speaker 2: They discussed his political and business roles, his commitments to Tesla, 322 00:16:33,960 --> 00:16:36,880 Speaker 2: and whether he will continue his large political donations and 323 00:16:36,920 --> 00:16:38,160 Speaker 2: involvement in politics. 324 00:16:38,480 --> 00:16:39,360 Speaker 5: Let's listen, in. 325 00:16:39,880 --> 00:16:42,360 Speaker 7: Europe is our weakest market. We're stronger everywhere else. 326 00:16:43,440 --> 00:16:48,000 Speaker 11: So now sales are doing well at this point, anticipate 327 00:16:48,040 --> 00:16:52,080 Speaker 11: any any meaningful sales shortfall, and obviously the stock market 328 00:16:52,120 --> 00:16:54,920 Speaker 11: recognizes that since we're now back over at trillion dollars 329 00:16:54,960 --> 00:16:58,360 Speaker 11: in market caps, so I believe the market is aware of. 330 00:16:58,280 --> 00:17:00,360 Speaker 7: The situation, so it's already to around. 331 00:17:00,520 --> 00:17:02,960 Speaker 1: But sales still down compared to this time last year. 332 00:17:03,240 --> 00:17:10,040 Speaker 7: In Europe. In Europe, okay, and that's true of all manufacturers. 333 00:17:10,040 --> 00:17:10,680 Speaker 7: No accessions. 334 00:17:10,760 --> 00:17:13,960 Speaker 1: Okay, but you would acknowledge, wouldn't you that what you 335 00:17:14,000 --> 00:17:15,879 Speaker 1: are facing. Okay, let's just take it as Europe, what 336 00:17:15,920 --> 00:17:18,359 Speaker 1: you are facing is a significant problem. This Tesla is 337 00:17:18,400 --> 00:17:22,560 Speaker 1: an incredibly aspirational brand. People identified with it, it saw it, 338 00:17:23,200 --> 00:17:24,800 Speaker 1: They saw it as being at the forefront of the 339 00:17:24,800 --> 00:17:27,960 Speaker 1: climate crisis. And now people are driving around with stickers 340 00:17:27,960 --> 00:17:30,120 Speaker 1: in their car saying I bought this before we knew 341 00:17:30,119 --> 00:17:31,160 Speaker 1: Elon was crazy. 342 00:17:31,520 --> 00:17:33,840 Speaker 11: And there are also people who are by buying it 343 00:17:33,880 --> 00:17:39,280 Speaker 11: because Elon's crazy, or however they may view it. So, yes, 344 00:17:39,320 --> 00:17:41,320 Speaker 11: we've lost some sales, perhaps on the left, but we've 345 00:17:41,359 --> 00:17:44,119 Speaker 11: gained them on the right. The sales numbers at this 346 00:17:44,160 --> 00:17:48,200 Speaker 11: point are strong and we've seen no problem with them. 347 00:17:48,200 --> 00:17:52,400 Speaker 1: Had tell me then, how committed you are to Tesla. 348 00:17:52,480 --> 00:17:55,080 Speaker 1: Do you see yourself and now you committed to still 349 00:17:55,080 --> 00:17:59,240 Speaker 1: being the chief executive of Tesla in five years time? Yes, 350 00:18:00,280 --> 00:18:01,520 Speaker 1: no doubt about that at all. 351 00:18:02,320 --> 00:18:04,320 Speaker 7: Well, no, I might die. 352 00:18:05,880 --> 00:18:09,960 Speaker 1: Does that mean that the value of your pay doesn't 353 00:18:10,040 --> 00:18:12,080 Speaker 1: have any bearing on your decision? 354 00:18:12,400 --> 00:18:17,720 Speaker 11: Well, that's not really serject discussion in this forum. I 355 00:18:17,720 --> 00:18:21,800 Speaker 11: think Obviously there should be a conversation for if there's 356 00:18:21,960 --> 00:18:26,400 Speaker 11: something incredible is done, that compensation should match that something 357 00:18:26,440 --> 00:18:31,600 Speaker 11: incredible was done. But I'm confident that whatever the whatever 358 00:18:31,640 --> 00:18:35,479 Speaker 11: some activists posing as a judge in Delaware happens to 359 00:18:35,480 --> 00:18:37,080 Speaker 11: do will not affect the future compensation. 360 00:18:37,560 --> 00:18:41,119 Speaker 1: This is the judge you twice struck down the fifty 361 00:18:41,160 --> 00:18:44,800 Speaker 1: six billion dollar pay package that was that was awarded 362 00:18:44,840 --> 00:18:46,840 Speaker 1: to you. I think the value on the basis on 363 00:18:46,880 --> 00:18:48,800 Speaker 1: the current value of stock options. 364 00:18:49,000 --> 00:18:51,200 Speaker 7: Yeah, not a judge, not a judge. 365 00:18:51,400 --> 00:18:54,920 Speaker 11: The activist who is causplaying a judge in a Halloween costume. 366 00:18:56,640 --> 00:19:00,680 Speaker 1: Okay, that's that's your characterization. I think that on the 367 00:19:00,720 --> 00:19:03,760 Speaker 1: current value of stock options. I think the actual justice 368 00:19:03,840 --> 00:19:06,880 Speaker 1: according to the law, on the current value of stock options. 369 00:19:06,920 --> 00:19:08,720 Speaker 1: I think the value of that pay package stands at 370 00:19:08,720 --> 00:19:11,280 Speaker 1: about one hundred billion dollars. Are you saying you are 371 00:19:11,320 --> 00:19:16,080 Speaker 1: relaxed about the value of your future pay package. Your 372 00:19:16,119 --> 00:19:19,560 Speaker 1: decision to be committed to Tesla for the next five 373 00:19:19,640 --> 00:19:21,959 Speaker 1: years as long as you are still with us on 374 00:19:22,000 --> 00:19:26,800 Speaker 1: this planet is completely independent of pay. No, it's not independent. 375 00:19:26,840 --> 00:19:28,920 Speaker 1: So pay is a relevant factor then to your commitment 376 00:19:28,920 --> 00:19:29,400 Speaker 1: to Tesla. 377 00:19:31,400 --> 00:19:35,760 Speaker 11: A sufficient voting control such that I cannot be ousted 378 00:19:35,760 --> 00:19:38,440 Speaker 11: by activists investors is what matters to me. And I've 379 00:19:38,440 --> 00:19:41,480 Speaker 11: said this publicly many times, but let's not have this 380 00:19:41,520 --> 00:19:44,400 Speaker 11: whole thing be a discussion of my list pay. It's 381 00:19:44,400 --> 00:19:47,720 Speaker 11: not a money thing. It's a reasonable control thing over 382 00:19:47,760 --> 00:19:50,960 Speaker 11: the future of the company, especially for building millions, potentially 383 00:19:51,000 --> 00:19:54,320 Speaker 11: billions of human oroid robots. I can't be sitting there 384 00:19:55,760 --> 00:19:59,000 Speaker 11: and weren't going to get tossed out by for political 385 00:19:59,000 --> 00:20:00,000 Speaker 11: reasons by activists. 386 00:20:00,280 --> 00:20:03,200 Speaker 7: That would be unacceptable. That's all that matters. Now, let's 387 00:20:03,240 --> 00:20:03,560 Speaker 7: move on. 388 00:20:03,800 --> 00:20:07,800 Speaker 1: Okay, Well, one question before we move on to other companies, 389 00:20:07,840 --> 00:20:09,760 Speaker 1: which is that I wonder if some of what you've 390 00:20:10,320 --> 00:20:13,160 Speaker 1: has happened to Tesla in the last few months, did 391 00:20:13,200 --> 00:20:14,320 Speaker 1: you take it personally? 392 00:20:14,960 --> 00:20:15,280 Speaker 13: Yes? 393 00:20:15,880 --> 00:20:18,760 Speaker 1: And did it make you regret any of you all 394 00:20:18,800 --> 00:20:21,000 Speaker 1: think twice about your political endeavors. 395 00:20:21,400 --> 00:20:26,600 Speaker 11: I did what needed to be done, the violent antibody reaction, 396 00:20:27,880 --> 00:20:31,240 Speaker 11: and I'm not someone who's ever committed violence, and yet 397 00:20:32,680 --> 00:20:36,439 Speaker 11: massive violence was committed against my companies, massive violence was 398 00:20:36,480 --> 00:20:39,960 Speaker 11: threatened against me. Who are these people? Why would they 399 00:20:40,040 --> 00:20:43,520 Speaker 11: do that? How wrong can they be? They're on the 400 00:20:43,520 --> 00:20:46,000 Speaker 11: wrong side of history and that's an evil thing to do, 401 00:20:46,359 --> 00:20:50,480 Speaker 11: to go and damage some coinnocent person's car to threaten 402 00:20:50,520 --> 00:20:50,879 Speaker 11: to kill me. 403 00:20:51,320 --> 00:20:52,320 Speaker 7: What's wrong with these people? 404 00:20:52,680 --> 00:20:55,880 Speaker 11: Have not harmed anyone, so something needs to be done 405 00:20:55,880 --> 00:20:57,919 Speaker 11: about them, and a number of them are going to 406 00:20:57,920 --> 00:20:59,240 Speaker 11: prison and they deserve it. 407 00:20:59,359 --> 00:21:04,800 Speaker 1: Finally, political, your political influence. I wondered whether you have 408 00:21:04,920 --> 00:21:09,280 Speaker 1: decided yet how much you're going to spend on the 409 00:21:10,160 --> 00:21:14,760 Speaker 1: upcoming midterms. Is it you spent a lot more money 410 00:21:14,800 --> 00:21:17,199 Speaker 1: on the last US election than you envisaged when you 411 00:21:17,240 --> 00:21:20,280 Speaker 1: were speaking here three years ago. Are you going to 412 00:21:20,320 --> 00:21:23,879 Speaker 1: continue to spend at that kind of level on future elections? 413 00:21:24,320 --> 00:21:27,240 Speaker 11: In terms of political spending, I'm going to do a 414 00:21:27,240 --> 00:21:28,199 Speaker 11: lot less in the future. 415 00:21:28,640 --> 00:21:29,400 Speaker 1: And why is that? 416 00:21:30,000 --> 00:21:30,920 Speaker 7: I think I've done enough? 417 00:21:31,480 --> 00:21:33,320 Speaker 1: Is it because of blowback? 418 00:21:34,000 --> 00:21:36,600 Speaker 11: Well, if I see a reason to do political spending 419 00:21:36,640 --> 00:21:37,640 Speaker 11: in the future, I will do it. 420 00:21:38,320 --> 00:21:39,160 Speaker 7: Currently see reason. 421 00:21:39,640 --> 00:21:42,679 Speaker 3: And that was Tesla's CEO, Elon Musk, speaking with Bloomberg's 422 00:21:42,680 --> 00:21:45,720 Speaker 3: Michelle who's seen in a wide ranging conversation from the 423 00:21:45,760 --> 00:21:48,000 Speaker 3: Cutter Economic Forum. And we're pleased to tell you that 424 00:21:48,000 --> 00:21:51,160 Speaker 3: Michelle is with us now editor at large for Bloomberg 425 00:21:51,200 --> 00:21:54,720 Speaker 3: Weekend this morning. After that, more than half hour talk 426 00:21:54,880 --> 00:21:59,960 Speaker 3: virtually in cutter Michelle, good morning. Very interesting to Elon Musk, 427 00:22:00,560 --> 00:22:05,960 Speaker 3: you know, seeming undeterred really by what really feels like 428 00:22:05,960 --> 00:22:09,960 Speaker 3: politicization of the Tesla brand. He almost sounded like he 429 00:22:10,040 --> 00:22:12,720 Speaker 3: was embraced it to some extent. What are your thoughts? 430 00:22:14,040 --> 00:22:16,399 Speaker 1: There was definitely a lot to take in. We spoke 431 00:22:16,480 --> 00:22:18,840 Speaker 1: for nearly forty minutes, so it is a chance to 432 00:22:18,880 --> 00:22:22,640 Speaker 1: have a conversation that is corporate and that touched on politics, 433 00:22:22,680 --> 00:22:26,080 Speaker 1: but is also personal, and you heard from their he 434 00:22:26,119 --> 00:22:29,399 Speaker 1: sounded upset at times when he talked about what Tesla 435 00:22:29,480 --> 00:22:34,000 Speaker 1: drivers or Tesla dealerships have experienced and the threats to 436 00:22:34,080 --> 00:22:37,320 Speaker 1: him personally. I think as far as Tesla is concerned, 437 00:22:37,359 --> 00:22:39,360 Speaker 1: you know we heard this before in the earnings call, 438 00:22:39,480 --> 00:22:44,280 Speaker 1: but he feels that he is the answers and his 439 00:22:44,440 --> 00:22:47,200 Speaker 1: presence back at Tesla, apart from the one to two 440 00:22:47,280 --> 00:22:49,560 Speaker 1: days a week that he spends on government work, is 441 00:22:49,600 --> 00:22:51,440 Speaker 1: going to turn the ship around. I have to say 442 00:22:51,640 --> 00:22:54,400 Speaker 1: the picture the declines I've pointed to in Europe, they 443 00:22:54,400 --> 00:22:58,520 Speaker 1: are very serious. In big markets like Sweden, for example, 444 00:22:59,119 --> 00:23:02,640 Speaker 1: eighty percent and lower sales than this time last year. 445 00:23:02,680 --> 00:23:05,280 Speaker 1: That was the picture in April compared to the previous April, 446 00:23:05,520 --> 00:23:08,720 Speaker 1: and fewer vehicles were shipped from Tesla's plants in China's 447 00:23:08,760 --> 00:23:12,159 Speaker 1: well last month. Again, that's been the picture for a 448 00:23:12,280 --> 00:23:15,360 Speaker 1: number of months. So he does have a task to do. 449 00:23:15,520 --> 00:23:18,119 Speaker 1: But he's a person who's faced many obstacles in the past, 450 00:23:18,160 --> 00:23:21,359 Speaker 1: and he clearly feels that this is going to be 451 00:23:21,400 --> 00:23:23,160 Speaker 1: what he's going to do again. And I think it's 452 00:23:23,200 --> 00:23:26,320 Speaker 1: also interesting to see the kind of distance that he's 453 00:23:26,359 --> 00:23:31,000 Speaker 1: putting between himself and the administration to some extent, referring 454 00:23:31,040 --> 00:23:33,760 Speaker 1: to does for example, much more as advisors than as 455 00:23:33,880 --> 00:23:35,920 Speaker 1: actors within the administration. 456 00:23:36,240 --> 00:23:40,320 Speaker 3: And also to your point, pointing out that he's going 457 00:23:40,400 --> 00:23:43,640 Speaker 3: to be and as he put it, significantly pairing back 458 00:23:43,680 --> 00:23:48,000 Speaker 3: his political spending. That could be a blow to not 459 00:23:48,119 --> 00:23:52,359 Speaker 3: just President Trump potentially, but for Republicans, his fellow Republicans 460 00:23:52,760 --> 00:23:54,600 Speaker 3: heading into a midterm election next year. 461 00:23:55,119 --> 00:23:57,879 Speaker 1: Indeed, but you know, he did leave the door open, 462 00:23:58,000 --> 00:24:00,400 Speaker 1: didn't he, Because when he says he envisited, is doing 463 00:24:00,400 --> 00:24:02,800 Speaker 1: a lot less in the future now, a lot less 464 00:24:02,800 --> 00:24:05,520 Speaker 1: than the upwards of two hundred and fifty million dollars 465 00:24:05,520 --> 00:24:08,000 Speaker 1: that he's spent on getting Donald Trump elected, is potentially 466 00:24:08,040 --> 00:24:11,919 Speaker 1: still a lot of money. And he also said, you know, essentially, 467 00:24:11,960 --> 00:24:15,439 Speaker 1: if he sees a reason, then he will do so again. 468 00:24:15,680 --> 00:24:19,040 Speaker 1: So I think perhaps the door is open to some 469 00:24:19,119 --> 00:24:22,320 Speaker 1: kind of negotiating tactic, whether it's with the President in 470 00:24:22,359 --> 00:24:25,560 Speaker 1: his circle or with other Republicans. And there'll be other 471 00:24:25,600 --> 00:24:28,439 Speaker 1: parts of the world, the UK, germaney which will be 472 00:24:28,440 --> 00:24:31,879 Speaker 1: interested in what he said on that and wondering whether 473 00:24:31,920 --> 00:24:36,520 Speaker 1: he might use his political influence to different degrees where 474 00:24:36,560 --> 00:24:36,920 Speaker 1: they are. 475 00:24:37,760 --> 00:24:41,520 Speaker 3: You have to wonder though, whether Elon Musk can continue 476 00:24:41,560 --> 00:24:45,159 Speaker 3: to divide his attention in the way he has with 477 00:24:45,400 --> 00:24:48,359 Speaker 3: the Doe jeffort in Washington, DC, as well as running 478 00:24:48,840 --> 00:24:53,520 Speaker 3: not just Tesla, but SpaceX, Starlink, all these other ventures. 479 00:24:53,560 --> 00:24:55,800 Speaker 3: In our last minute, where do you see things going 480 00:24:56,200 --> 00:24:58,320 Speaker 3: for Elon Musk after this long conversation. 481 00:24:59,040 --> 00:25:04,399 Speaker 1: Well, I think this conversation really did confirm that the 482 00:25:04,480 --> 00:25:06,359 Speaker 1: corporate sphere is where he is going to try and 483 00:25:06,359 --> 00:25:10,680 Speaker 1: focus his energies. Look, he has tremendous capacities already running 484 00:25:10,800 --> 00:25:14,320 Speaker 1: multiple companies before he entered his government role. I suspect, 485 00:25:14,400 --> 00:25:18,000 Speaker 1: reading between the lines, that this has the blowback, as 486 00:25:18,040 --> 00:25:22,040 Speaker 1: he would call it, has been far beyond what he anticipated. 487 00:25:22,040 --> 00:25:25,440 Speaker 1: He would blame others for that rather than his own decisions. 488 00:25:25,840 --> 00:25:29,239 Speaker 1: But I asked him at the end whether this was 489 00:25:29,400 --> 00:25:32,720 Speaker 1: a pivotal year for him, and he didn't go as 490 00:25:32,720 --> 00:25:35,280 Speaker 1: far as that, but I think it's almost certainly been 491 00:25:35,280 --> 00:25:37,240 Speaker 1: a year like no other in his life so far. 492 00:25:37,840 --> 00:25:41,280 Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories 493 00:25:41,359 --> 00:25:44,360 Speaker 2: making news from Wall Street to Washington and beyond. 494 00:25:44,640 --> 00:25:47,040 Speaker 3: Look for us on your podcast feed by six am 495 00:25:47,080 --> 00:25:50,480 Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen. 496 00:25:50,680 --> 00:25:53,520 Speaker 2: You can also listen live each morning starting at five 497 00:25:53,560 --> 00:25:56,280 Speaker 2: am Wall Street time on Bloomberg eleven three to zero 498 00:25:56,280 --> 00:25:59,120 Speaker 2: in New York, Bloomberg ninety nine to one in Washington, 499 00:25:59,240 --> 00:26:03,200 Speaker 2: Bloomberg nine two nine in Boston, and nationwide on serious 500 00:26:03,400 --> 00:26:04,960 Speaker 2: XM Channel one twenty one. 501 00:26:05,359 --> 00:26:08,080 Speaker 3: Plus listen coast to coast on the Bloomberg Business app 502 00:26:08,119 --> 00:26:10,920 Speaker 3: now with Apple CarPlay and Android auto interfaces. 503 00:26:11,160 --> 00:26:14,160 Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's 504 00:26:14,200 --> 00:26:16,920 Speaker 2: the latest news whenever you want it in five minutes 505 00:26:17,040 --> 00:26:20,160 Speaker 2: or less. Search Bloomberg News Now on your favorite podcast 506 00:26:20,160 --> 00:26:22,439 Speaker 2: platform to stay informed all day long. 507 00:26:22,720 --> 00:26:25,800 Speaker 3: I'm Karen Moscow and I'm Nathan Hager. Join us again 508 00:26:25,840 --> 00:26:27,960 Speaker 3: tomorrow morning for all the news you need to start 509 00:26:28,000 --> 00:26:30,080 Speaker 3: your day right here on Bloomberg Day, Ray