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Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Prisner,

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Speaker 1: and we begin with the conflict in the Middle East.

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Speaker 1: President Trump met today with his national security team, and

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Speaker 1: before this meeting, Trump posted a demand for Iran's unconditional surrender. Now,

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Speaker 1: the New York Times is reporting that American commanders have

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Speaker 1: put troops on high alert throughout the region. Here is

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Speaker 1: Bloomberg's Mike Shephard.

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Speaker 2: So far, President Trump has wanted to keep America on

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Speaker 2: the sidelines when it comes to attacking Iran, directly joining

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Speaker 2: Israel in that part of the conflict. He has though

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Speaker 2: encouraged the US and had US military forces participating in

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Speaker 2: the defense of Israel. And yet Iran's balking at accepting

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Speaker 2: this deal. And perhaps there may be some intelligence that

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Speaker 2: we are not aware of that was shared at this

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Speaker 2: situation room meeting.

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Speaker 1: That is Bloomberg's Mike Shepherd. Now, as hostilities continue between

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Speaker 1: Israel and Iran, Israeli Defense Minister Israel Katz said through

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Speaker 1: a translator that Iran's Ayatola he could face the same

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Speaker 1: fate as other fallen leaders in the region if, as

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Speaker 1: she school.

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Speaker 3: He should remember what happened to the dictator in his

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Speaker 3: neighboring country.

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Speaker 4: He took his path against the State of Israel.

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Speaker 1: That is Israeli Defense Minister Israel Cat speaking there. The

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Speaker 1: escalation intentions in the Midiast triggered more anxiety today in

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Speaker 1: financial markets. In stocks, we had the S and P

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Speaker 1: five hundred losing eight tens of one percent. Nadia Level

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Speaker 1: is senior strategist at UBS Financial Services. She sees a

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Speaker 1: lasting impact on markets from the Israeli Iran conflict, but

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Speaker 1: with one caveat.

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Speaker 5: Well could spike up into the one hundred dollars range.

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Speaker 5: That is not obvious. Few We continue to think that

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Speaker 5: all prices is more reasonable at sixty eight dollars. But

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Speaker 5: if you lead in some sort of block is that

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Speaker 5: disrupts the flow of oil, then you could see see

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Speaker 5: that spike in all prices. Right now, it feels like

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Speaker 5: the market is pricing in you're not a sort of

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Speaker 5: seventy five to eighty dollar range, which suggests that they're

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Speaker 5: expecting some sort of disruption ter Iranian oil.

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Speaker 1: That is not your level from UBS Financial Services speaking there.

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Speaker 1: The US Senate has passed stable coin legislation. This sets

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Speaker 1: up regulatory rules for cryptocurrencies pegged to the dollar. Dollar

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Speaker 1: pegged stable coins would have to hold dollar for dollar

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Speaker 1: reserves in short term government debt or similar products overseen

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Speaker 1: by state or federal regulators. We got reaction from Bloomberg's

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Speaker 1: Eric Wasson.

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Speaker 4: Yeah, this is a very big deal.

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Speaker 6: You know.

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Speaker 4: I think there's going to be a compromise coming out

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Speaker 4: of the House, and I think this is a big

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Speaker 4: boost for the stable coin industry, you know, and certainly

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Speaker 4: a Congress that's really been divided, riven the budget process

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Speaker 4: that we're seeing played out on the tax bill as

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Speaker 4: a purely gop affair. So there is a glimmer of

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Speaker 4: by parsonship here on the genius.

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Speaker 1: Side, that is Bloomberg's Eric wasason. Now, the passage of

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Speaker 1: this bill is seen as a win not only for

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Speaker 1: the crypto industry, but for President Trump as well. The

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Speaker 1: Trump administration is considering big changes that could disrupt more

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Speaker 1: than ten billion dollars in ad spending for the pharmaceutical industry.

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Speaker 1: More from Bloomberg's Nathan Hagar in Washington.

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Speaker 3: Bloomberg News has learned the administrations looking to make it

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Speaker 3: harder for drug companies to advertise directly to consumers. The

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Speaker 3: focus would be on two areas, one more side effect

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Speaker 3: disclosures so ads would be longer and more expensive, and

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Speaker 3: two taking away drug ads as a tax deductible business expense.

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Speaker 3: Health and Human Services Secretary Robert F. Kennedy Junior has

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Speaker 3: long argued that Americans take more drugs than other countries

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Speaker 3: due to direct to consumer advertising. Last year, ABV alone

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Speaker 3: spent two billion dollars advertising drugs that brought in more

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Speaker 3: than five billion in revenue in just the first quarter

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Speaker 3: of this year. In Washington, I'm Nathan Hager Bloomberg Radio.

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Speaker 1: We go to New York City next where a comptroller,

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Speaker 1: Brad Lander, was arrested outside an immigration court in Lower Manhattan.

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Speaker 1: Lander is running in next week's Democratic primary for mayor.

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Speaker 1: He was detained by US Immigration and Customs enforcement agents.

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Speaker 1: Lander says he locked arms with an undocumented migrant in

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Speaker 1: and up parent effort to shield that person from detention.

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Speaker 6: At that elevator, I was separated from someone named Edgardo,

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Speaker 6: who I had just met a couple of minutes earlier.

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Speaker 6: Edgardo is in NICED attention and he's not going to

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Speaker 6: sleep in his bed tonight. So far as I know,

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Speaker 6: he has no lawyer. He has been stripped of his

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Speaker 6: due process rights by a government and a judge that

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Speaker 6: owe him a credible fear hearing.

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Speaker 1: That was New York City Comptroller Brad Lander, speaking there

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Speaker 1: now following his release from custody. New York Governor Kathy

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Speaker 1: Hokeel said charges against Lander have been dropped, and that

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Speaker 1: is news when you want it. With Bloomberg News now,

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Speaker 1: I'm Doug Prisner, and this is Bloomberg