Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Alexis Christophers. Here
Speaker 2: are the stories we're following today, Alexa's.
Speaker 3: Tensions are building once again between the US and Iran
Speaker 3: as the world waits for Iran's response to a US
Speaker 3: peace offer. Overnight, the US attacked missile and drone launch
Speaker 3: sites inside Iran that it says we're used to attack
Speaker 3: three US warships in the Strait of Hormuz. It's after
Speaker 3: Iran accused the US of targeting two of its oil
Speaker 3: tankers and striking civilian areas along its southern coast and
Speaker 3: Kesham Island. But President Trump says the ceasefire is still intagged.
Speaker 4: They trifled with us. Today we blew them away.
Speaker 5: They trifled.
Speaker 4: I call that a trifle.
Speaker 6: I'll let you know when there's no season, you won't
Speaker 6: have to know.
Speaker 3: President Trump's threatening to hit Iran even harder if it
Speaker 3: doesn't reach a deal. We get more from Bloomberg's Jumana
Speaker 3: Borsecci in Dubai.
Speaker 7: There is a strong push for the US side to
Speaker 7: get a deal across the line, but we are still
Speaker 7: in this period we were waiting to hear back from
Speaker 7: the Iranians officially about the fourteen point one page proposal
Speaker 7: that the US has put forward. As you were reporting
Speaker 7: earlier in the week, some of the demands that the
Speaker 7: US have put on that paper are deemed to be
Speaker 7: quite maximalist from Iran standpoints. So it is unclear at
Speaker 7: this point whether there can be some form of a compromise,
Speaker 7: and indeed whether you can get to a compromise over
Speaker 7: a thirty day period.
Speaker 3: Bloombergs Jamani Bersettio reports Iran is still expected to respond
Speaker 3: to the US software through Pakistani mediators in the next
Speaker 3: two days.
Speaker 2: President Trump is moving ahead with plans to hold a
Speaker 2: summit with his Chinese counterpart Jijinping next week in Beijing,
Speaker 2: and he's bringing some big name guests along with him.
Speaker 2: Bloomberg's Tom Busby reports from New York.
Speaker 8: The President bringing a who's who of American business leaders
Speaker 8: for next week's summit in China, despite there being no
Speaker 8: resolution to the US war against Iran now. Among those
Speaker 8: planning to attend Blackstone CEO Steve Schwartzman, City of CEO
Speaker 8: Jane Frasier, with Semophore reporting that the administration also plans
Speaker 8: to invite Kelly Ordberg of Boeing, Jensen Wong of Nvidia
Speaker 8: and others. Trump and She slated for a sit down
Speaker 8: meeting May fourteenth and fifteenth. That summit has already been
Speaker 8: postponed once due to the war. Tom busby Bloomberg Radio.
Speaker 3: Tom thanks to Turn to Politics in the UK now,
Speaker 3: the Labor government is taking heavy losses as the first
Speaker 3: wave of local election results comes in. For more, Let's
Speaker 3: go to London and get the latest with Bloomberg's James Wilcock.
Speaker 9: Good Morning, James.
Speaker 4: Nathan Alexis. Prime Minister Kiss Darmer says the results are
Speaker 4: very tough, there's no sugarcoating it, and that he takes
Speaker 4: responsibility for the losses. We're still waiting on the majority
Speaker 4: of results, but the early signs are it is a
Speaker 4: disastrous election for the governing Labor Party. The right wing
Speaker 4: populist Reform UK Party are set to pick up hundreds
Speaker 4: of seats. Already they've taken control of two councils and
Speaker 4: elections in England and as we wait for the rest
Speaker 4: of the day, we are still waiting on Wales and
Speaker 4: Scotland election two, where Labor are author set to perform
Speaker 4: very poorly. The question now for markets and people in
Speaker 4: the UK is does the Labor Party decide that Keith
Speaker 4: Starmer needs to be a change in leader as well
Speaker 4: as someone who is an election loser In London. James
Speaker 4: Wilcock Bloomberg Radio.
Speaker 2: Thanks, James, and President Trump says he's giving the European
Speaker 2: Union until July fourth to ratify its trade agreement with
Speaker 2: the US. Bloomberg's Won Parts reports from London.
Speaker 10: Having previously threatened to hike tarrifs on Orto imports as
Speaker 10: soon as this week, Donald Trump has extended his deadline
Speaker 10: for the EU to ratify its trade deal. The move
Speaker 10: comes after Trump spoke to European Commissioned President Ursula vonderlyin
Speaker 10: Negotiators from the European Parliament and Member States discuss potential
Speaker 10: amendments to the deal earlier this week, but we're told
Speaker 10: didn't reach any conclusive decisions in London. I'm you in
Speaker 10: Pots Bloomberg Radio.
Speaker 3: You and thanks. A major piece of President Trump's effort
Speaker 3: to rebuild his tariff wall has just been declared unlawful
Speaker 3: of federal trade courts in val lidated the President's ten
Speaker 3: percent global tariffs under Section one twenty two of the
Speaker 3: nineteen seventy four Trade Act. That law had never been
Speaker 3: invoked before to impose tariffs, but President used it back
Speaker 3: in February after the Supreme Court struck down his sweeping
Speaker 3: emergency tariffs. The court says the ruling against Section one
Speaker 3: twenty two only applies to the group of small businesses
Speaker 3: that challenged it, along with Washington State. It's unclear what
Speaker 3: the ruling will mean for other importers that have been
Speaker 3: paying those duties and.
Speaker 2: Turning to the markets now. Futures are higher ahead of
Speaker 2: today's key jobs report. Economists are expecting a slow down
Speaker 2: and hiring in April. The median forecast is for a
Speaker 2: gain of sixty five thousand jobs and the unemployment rate
Speaker 2: to hold steady at four point three percent. Bloomberg's Michael
Speaker 2: McKee reports.
Speaker 11: It's a one number increase as far as economists and
Speaker 11: investors are concerned. With immigration near zero, the labor force
Speaker 11: isn't growing much, which means headline job growth is going
Speaker 11: to be a lot smaller. That's why the Fed will
Speaker 11: pay attention to the unemployment rate. If it's not rising,
Speaker 11: it's not signaling problem for the employment side of their
Speaker 11: mandate and near record low jabas claim suggests unemployment is stable.
Speaker 11: There will be some focus on average hourly earnings, which
Speaker 11: are forecast to rise. Policymakers are looking for any signs
Speaker 11: labor shortages or rising costs of things like gasoline are
Speaker 11: pushing up on inflation. Michael McKee Bloomberg Radio.
Speaker 3: San Francisco Fed President Mary Daily says there is no
Speaker 3: indication the surge and energy prices is driving inflation expectations higher.
Speaker 3: Daily spoke with Bloomberg's Mike McCain.
Speaker 1: If the conflict ends and oil prices come back down
Speaker 1: and that doesn't get passed into the broader economy, then
Speaker 1: I expect the underlying dynamics that we were facing prior
Speaker 1: to the conflict to return, which is policy is slightly restrictive,
Speaker 1: continues to put downward pressure on inflation. The labor market
Speaker 1: is stable right now, but it's not creating any inflationary pressures.
Speaker 3: San Francisco Fed President Mary Daily and stay with Bloomberg
Speaker 3: to hear more FED voices. At two pm Wall Street
Speaker 3: Time today, Mike McKee sits down with Chicago Fed President
Speaker 3: Austin Goldsby. You can catch that conversation live on Bloomberg Radio,
Speaker 3: Bloomberg Television and the Bloomberg Business app.
Speaker 2: And Nathan now to two Bloomberg exclusives. First, soft Bank
Speaker 2: it's downsizing plans for a ten billion dollar margin loan
Speaker 2: backed by its take in open Ai. Some creditors are
Speaker 2: expressing concerns about the difficulty of reaching evaluation for an
Speaker 2: unlisted company like open Ai. SoftBank is now said to
Speaker 2: be targeting a margin loan of about six billion dollars.
Speaker 2: The developer of chat GPT has faced challenges this year
Speaker 2: and meeting sales targets and some internal goals. That's his
Speaker 2: rival Anthropic gains ground and the coding and enterprise markets.
Speaker 3: And sources to say, a key company behind Thaielands national
Speaker 3: artificial intelligence effort is suspected of helping to smuggle servers
Speaker 3: containing advanced Nvidia chips to China. Bloomberg News has learned.
Speaker 3: US prosecutors have outlined a scheme in which super micros
Speaker 3: co founder allegedly worked with Obon and third party brokers
Speaker 3: to divert AI semiconductors in violation of US trade rules.
Speaker 3: The alleged involvement of Obon in this smuggling arrangement could
Speaker 3: raise questions about Nvidia's due diligence on high volume sales
Speaker 3: of its hardware.
Speaker 2: Time now for a look at some of the other
Speaker 2: stories making news in New York and around the world.
Speaker 2: For that, we're joined by Bloomberg's Michael Barr.
Speaker 6: Good morning, Michael, good morning, and looks his. Spanish authorities
Speaker 6: are preparing to receive passengers and crew members on a
Speaker 6: hantavirus stricken cruise ship headed for the Canary Islands. At
Speaker 6: least three passengers have died and several others are sick,
Speaker 6: but the World Health Organization says the risk to the
Speaker 6: wider public from the outbreak is low. Doctor Stephanie Widmer
Speaker 6: is the director of the medical Toxicology Program at Saint
Speaker 6: John's Riverside Hospital in New York.
Speaker 12: At this point, health officials are assuming person to person
Speaker 12: transmission is possible because this appears to involve the Andy
Speaker 12: strain of hantavirus, which is one strain known to occasionally
Speaker 12: spread between humans.
Speaker 6: Doctor Stephanie Widmer. Authorities across four continents are tracing contacts
Speaker 6: of passengers who left the ship, and the CDC has
Speaker 6: ranked the hantavirus a Level three response that is the
Speaker 6: lowest level of emergency activation and typical for this stage.
Speaker 6: Secretary of State Marco Rubio spent several hours at the
Speaker 6: Vatican Thursday. His visit included a meeting with Pope Leo.
Speaker 6: During an exchange of gifts, Rubio gave the Pope a
Speaker 6: small crystal football. The State Department seal Leo gifting Rubio
Speaker 6: a pen apparently made of olive wood.
Speaker 3: Olive being, of course, plant of peace.
Speaker 2: This is the coat of arms here.
Speaker 6: Today, Secretary Rubio is set to meet with Italy's Prime Minister.
Speaker 6: After widespread backlash, soccer fans are getting a bit of
Speaker 6: a break. New Jersey Transit will reduce its World Cup
Speaker 6: ticket price from one hundred and fifty dollars to one
Speaker 6: hundred and five. Governor Minkey Sheryl has directed the agency
Speaker 6: to find private sponsorships and other sources to reduce the cost,
Speaker 6: noting that Fifash contribute to transport of its fans to
Speaker 6: World Cup games. The original round trip price from New
Speaker 6: York's Penn Station to met Live Stadium was raised to
Speaker 6: cover the additional costs of carrying fans to each game.
Speaker 6: By the way, a typical ride on a regular day
Speaker 6: costs about thirteen dollars. Global news twenty four hours a
Speaker 6: day and whatever you want it with the Bloomberg News
Speaker 6: Now Michael barn and this is Bloomberg Alexis.
Speaker 2: Thanks Michael. Time now for our Bloomberg Sports update, and
Speaker 2: for that we bring in John stash Hour.
Speaker 9: Home games one of the NBA playoffs that includes the
Speaker 9: Detroit Pistons. Now five straight playoff victories be Cleveland one
Speaker 9: oh seven ninety seven. The Cans in the playoffs are
Speaker 9: zero and five on the road. Oklahoma City six and
Speaker 9: zero in the playoffs, with every win by at least
Speaker 9: nine points. A second straight eighteen point win over the Lakers.
Speaker 9: Carolina Hurricanes seven and zero in the Stanley Cup Playoffs.
Speaker 9: They've only allowed eight goals in seven games. A four
Speaker 9: to one win at Philadelphia. Aaron Rodgers to meet today
Speaker 9: with the Pittsburgh Steelers moving closer to making a return.
Speaker 9: That's to a Bloomberg Sports update.
Speaker 3: Stay with us more from Bloomberg Daybreak coming up after
Speaker 3: this Coast to coast on Bloomberg Radio nationwide on Serious XM,
Speaker 3: and around the world on Bloomberg dot Com and the
Speaker 3: Bloomberg Business app.
Speaker 4: This is Bloomberg Daybreak.
Speaker 3: Good morning on Nathan Hager, coming up on ten full
Speaker 3: weeks of war in the Middle East. The US and
Speaker 3: Iran or trading fire once again around the Strait of
Speaker 3: Horn moves, but President Trump says the ceasefire is still
Speaker 3: on as he waits for Iran's response to his latest
Speaker 3: peace offer.
Speaker 11: If there's no ceasfire, you're not gonna have to know,
Speaker 11: You're gonna have to look at one big glow coming
Speaker 11: out of Iran.
Speaker 3: That was President Trump speaking near the Lincoln Memorial Reflecting
Speaker 3: Pool in Washington. Joining us from Dubai this morning is
Speaker 3: Bloomberg Middle East correspondent Jumana Bursecci, the anchor of Bloomberg Horizons.
Speaker 3: J youman to catch us up on what's been happening
Speaker 3: over the last twenty four hours. Is the ceasefire holding?
Speaker 9: Good morning?
Speaker 5: Yeah, Well, that's what Trump is saying, and so far
Speaker 5: from the Iranian side as well, they seem to be
Speaker 5: respecting the seasfire. Apart from that scuffle overnight around the strait,
Speaker 5: certainly there was an escalation. Sentcom saying that three US
Speaker 5: warships came out of attack by Iran while they were
Speaker 5: crossing the strait. The attack involved missiles, drones, and small boats.
Speaker 5: So the US responded to that they struck back around
Speaker 5: the Iranian coast and also hit some key launch sites
Speaker 5: and come out and control locations.
Speaker 2: But that was that.
Speaker 5: It was almost a tip for tat, and later President
Speaker 5: Trump was asked about it whether that was the did
Speaker 5: constitute a violation of the Seasfire from his perspective, and
Speaker 5: he said no. However, he did threaten once again and said,
Speaker 5: just like we knocked them out today, we'll knock them
Speaker 5: out a lot harder, a lot more violently in the
Speaker 5: future if they don't get their deals signed fast. So
Speaker 5: once again really putting the pressure on the Iranian side
Speaker 5: to come forward and offer their response to the memorandum
Speaker 5: of understanding that the US put forward to them earlier
Speaker 5: this week.
Speaker 3: Well, do we have any sense that that pressure is
Speaker 3: being felt on the Iranian side? Are we still expecting
Speaker 3: some kind of response in the next day or so?
Speaker 5: We are we are. We know that they are reviewing it,
Speaker 5: and this is according to sources that we've spoken to
Speaker 5: at Bloomberg and indeed what the Iranian Foreign Ministry spokesperson
Speaker 5: has said in the last twenty four hours. They are
Speaker 5: reviewing the document, but they've also characterized the document as
Speaker 5: being very maximalist in terms of what the US is
Speaker 5: looking for. And so the question here is how Iran
Speaker 5: is going to come back, whether they're going to completely
Speaker 5: cut off the process, so, whether they will extend the
Speaker 5: process of negotiations once again, and whether we can actually
Speaker 5: move towards this phased plan that both the US and
Speaker 5: Iran actually have been positing the last couple of weeks,
Speaker 5: which would entail a gradual lifting of the mutual bocades
Speaker 5: around the Strait as at the same time they talk
Speaker 5: about some of those bigger issues around the nuclear file
Speaker 5: and ballistic missiles and the lifting of sanctions, the other
Speaker 5: issues obviously at the core of the issue and why
Speaker 5: the war was started in the first place, But the
Speaker 5: Strait is the one that President Trump seems to care
Speaker 5: about the most right now because it's having the most
Speaker 5: notable economic impact.
Speaker 3: Oh, we'd heard some reports that the effort to reopen
Speaker 3: the straight on the US side was delayed in part
Speaker 3: because Saudi Arabia wasn't allowing access to its Bass. Now
Speaker 3: there were reports that that's kind of been reversed. What
Speaker 3: could that mean for the potential of the US trying
Speaker 3: to reopen the strait of horror moves again, and how
Speaker 3: could Iran respond to that. We've got about a minute left.
Speaker 5: Yeah, I just want to say that the official Ministry
Speaker 5: of a Foreign Affairs, a diplomatic senior advisor from Saudi
Speaker 5: Arabia put up a tweet this morning saying the Kingdom
Speaker 5: of Saudi Arabia maintained its position supporting the escalation and
Speaker 5: negotiation efforts. Beware of media reports attributed to unnamed sources,
Speaker 5: some of whom claim to be Saudi, suggesting otherwise. It
Speaker 5: is strange to see such a post put up, but
Speaker 5: I think Saudi Arabia just wants to reiterate that they
Speaker 5: are keen on a diplomatic solution here. That's probably not
Speaker 5: the case for the likes of the UAE, and we
Speaker 5: can speak about that, and their posture towards Iran has
Speaker 5: been a lot more aggressive. Saudi Arabia is still pushing
Speaker 5: the diplomatic angle despite all of the media reports that
Speaker 5: have emerged.
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