WEBVTT - Two Week Iran Strike Deadline; Trump Can Continue National Guard in LA

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>Good morning.

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<v Speaker 3>I'm Nathan Hager and I'm Karen Moscow. Here are the

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<v Speaker 3>stories we're following today.

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<v Speaker 2>Karen, we begin with the latest developments involving Iran. The

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<v Speaker 2>White House says President Trump will make a decision on

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<v Speaker 2>whether to strike the country within the next two weeks.

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<v Speaker 2>The President is scheduled to attend a national security meeting

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<v Speaker 2>in the Oval Office later today. White House Press Secretary

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<v Speaker 2>Caroline Levitt spoke with reporters yesterday.

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<v Speaker 4>I have a message directly from the President and I quote,

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<v Speaker 4>based on the fact that there's a substantial chance of

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<v Speaker 4>negotiations that may or may not take place with Iran

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<v Speaker 4>in the near future. I will make my decision whether

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<v Speaker 4>or not to go within the next two weeks.

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<v Speaker 2>White House Press Secretary Caroline Levit says the President's goal

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<v Speaker 2>of halting Iran's richmond of uranium and preventing the country

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<v Speaker 2>from obtaining nuclear weapons remains intact, though she says if

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<v Speaker 2>there's a chance for diplomb, I mus see the President

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<v Speaker 2>is always going to grab it.

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<v Speaker 3>Meanwhile, Nathan, the fighting continues the Israel Defense Forces as

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<v Speaker 3>it completed a series of strikes into Iran, hitting dozens

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<v Speaker 3>of targets. A missile from Iran hit a Israeli hospital

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<v Speaker 3>on Thursday for the first time since the war began.

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<v Speaker 3>Iran's foreign minister is doing Geneva for talks of the

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<v Speaker 3>European foreign ministers today, and we get more with Bloomberg's

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<v Speaker 3>Oliver Krook.

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<v Speaker 5>What the sort of goal of this meeting is is

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<v Speaker 5>to try to begin to establish kind of a framework

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<v Speaker 5>for a day after if there is a ceasefire, something

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<v Speaker 5>you can go to sort of from Iran and the

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<v Speaker 5>rest of the world to say, listen, these are going

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<v Speaker 5>to be the monitoring arrangements that Iran has agreed to,

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<v Speaker 5>basically unrestricted access to making sure that Iran is not

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<v Speaker 5>developing a nuclear site, potentially some restrictions and some observations

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<v Speaker 5>about sort of cutting back the ballistic missile program, those

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<v Speaker 5>sorts of things. But again I think that one needs

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<v Speaker 5>to keep sort of really sort of low expectations here

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<v Speaker 5>because we know the world of Trump, and we know

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<v Speaker 5>the world of Trump is one in which the Europeans

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<v Speaker 5>don't have a huge amount of sway in terms of diplomacy.

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<v Speaker 5>If there's a real question about whether or not you know,

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<v Speaker 5>anything that they agreed to or anything that they can

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<v Speaker 5>come up with. Does Trump really want to put his

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<v Speaker 5>name on something that somebody else has come up with?

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<v Speaker 3>And, as Bloomberg's Oliver Kruik reporting, Around's foreign minister told

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<v Speaker 3>State TV this morning that Iran does not want to

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<v Speaker 3>negotiate with the US if Israel continues to strike the country.

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<v Speaker 2>The Karen cybersecurity experts in Israel say Iran is now

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<v Speaker 2>tapping into private security cameras to gather real time intelligence.

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<v Speaker 2>As Bloomberg's U and Pots reports, the revelation exposes a

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<v Speaker 2>recurring problem with these devices, one that's emerged in other

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<v Speaker 2>global conflicts.

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<v Speaker 6>Earlier this week, a former Israeli cybersecurity official issued a

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<v Speaker 6>stark message on public radio, turn off your home surveillance

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<v Speaker 6>cameras or change the password immediately. The warning was later

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<v Speaker 6>backed by Israel's National cyber Director, which confirmed to Bloomberg

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<v Speaker 6>that Internet connected cameras are increasingly being targeted as part

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<v Speaker 6>of Iran's war planning. Similar tactics were employed by Russia

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<v Speaker 6>following its invasion of Ukraine, and our researchers have been

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<v Speaker 6>sound in the alarm about vulnerabilities in security cameras for

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<v Speaker 6>over a decade. There is now increasing evidence that the

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<v Speaker 6>countries at war these systems are being exploited. As a

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<v Speaker 6>critical week point in London, i'm unepot Sploomberg radio.

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<v Speaker 3>All right you and thank you mean mohile. The war

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<v Speaker 3>in Ukraine goes on. Overnight, Russia unleashed a wave of

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<v Speaker 3>drones and decoys the cities of Odessa and Kharkiv. Ukraine's

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<v Speaker 3>air force has sixteen drones managed to evade its air defenses.

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<v Speaker 3>At least one person was killed and fourteen heard. In Odessa,

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<v Speaker 3>the drones there damaged several apartment buildings and the city's

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<v Speaker 3>central rail station. At least four others sought medical help

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<v Speaker 3>in Kharkiv and.

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<v Speaker 2>Back here in the US, Karen the White House has

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<v Speaker 2>scored a legal victory over its deployment of National Guard

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<v Speaker 2>troops in Los Angeles. A three judge panel has ruled

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<v Speaker 2>the Trump administration can continue using the Guard to respond

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<v Speaker 2>to anti deportation protests. Laurie Levinson is a former federal

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<v Speaker 2>prosecutor and a professor at Loyal Law School.

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<v Speaker 7>In Laottom line is that this panel of judges believe

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<v Speaker 7>that there was enough interference, enough violence going on in

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<v Speaker 7>Los Angeles that the President, in his broad discretion, had

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<v Speaker 7>the power to call out the National Guard because that's

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<v Speaker 7>what the statute allows.

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<v Speaker 2>Loyal law professor Lorie Levinson notes that the California could

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<v Speaker 2>still appeal to the full Federal Appeals Court or the

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<v Speaker 2>Supreme Court. The lower court judge who ordered the federal

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<v Speaker 2>government to return control of the Guard to California is

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<v Speaker 2>also holding a hearing today, Nathan.

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<v Speaker 3>As immigration raids continue, they're starting to have a noticeable

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<v Speaker 3>impact on workforces across the country. On Bloomberg's Monica Rex.

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<v Speaker 8>Reports, the downtown La Fashion district where the ice raids started,

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<v Speaker 8>is emptied out. Texas dairy farmers say workers aren't showing

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<v Speaker 8>up to milk cows, and the deputy mayor in Ventura,

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<v Speaker 8>California says Latino day laborers seem to have disappeared from

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<v Speaker 8>his closest home depot. Last month, the US workforce shrank

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<v Speaker 8>in large part because of a decline in foreign born workers.

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<v Speaker 8>California alons to lose two hundred and seventy five billion

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<v Speaker 8>dollars in economic output from the immigration crackdown. Monica Rix

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<v Speaker 8>Bloomberg Radio.

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<v Speaker 2>Okay, Monica, thank you, turning to the markets now. Futures

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<v Speaker 2>are lower as we close out the holiday interrupted trading week. Today,

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<v Speaker 2>investors brace for six and a half trillion dollars of

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<v Speaker 2>notional US options expiring, and that could lead stocks to

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<v Speaker 2>swing more wildly than the subdued changes seen in recent week.

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<v Speaker 2>Every quarter, a cluster of different exchange traded derivatives contracts

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<v Speaker 2>all terminate on the same day, leading to what market

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<v Speaker 2>watchers sometimes call a triple witching event. It's not expected

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<v Speaker 2>to add additional volatility today itself, but it could open

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<v Speaker 2>a path to more sudden stock market moves next week.

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<v Speaker 3>Nathan SoftBank may be making a trillion dollar AI play

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<v Speaker 3>in the US. Bloomberg News has learned soft Bank founder

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<v Speaker 3>Massa Yoshi's son is seeking to team up with Taiwan

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<v Speaker 3>Semiconductor to build a trillion dollar industrial complex in Arizona

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<v Speaker 3>to build robots and artificial intelligence. The project's feasibility depends

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<v Speaker 3>on some poor from the Trump administration and state officials,

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<v Speaker 3>and Sun is also exploring partnerships with other tech companies,

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<v Speaker 3>including Samsung Electronics, and considering project financing models to raise funding.

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<v Speaker 3>Time off for a look at some of the other

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<v Speaker 3>stories making news in New York and around the world.

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<v Speaker 3>And for that we're joined by Bloomberg's Michael Barr.

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<v Speaker 9>Michael, good morning, Good morning, Karen. Summer It's coming in.

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<v Speaker 9>Hot Summer officially starts later today and high heat is

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<v Speaker 9>moving across several states. Spring went out with storms and

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<v Speaker 9>large parts of the country. Throughout the Northeast, high winds

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<v Speaker 9>toppled trees on the cars and homes at the airports.

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<v Speaker 9>Hundreds of flights were canceled ground stops at Washington, DC Airports,

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<v Speaker 9>winds toppling sixty miles per hour. Severe flooding in a

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<v Speaker 9>rock slide, shutting down part of Interstate forty near the

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<v Speaker 9>Tennessee North Carolina border. A New York City teenager is

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<v Speaker 9>recovering after being struck by lightning in Central Park during

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<v Speaker 9>storms Yosin.

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<v Speaker 3>Apparently I'm pretty lucky because my spine was directly against

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<v Speaker 3>the tree and no no nerve damage happened.

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<v Speaker 9>The teen does have second degree burns, but is expected

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<v Speaker 9>to make a full recovery. Authorities in southern Mexico are

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<v Speaker 9>still assessing damage and watching rising rivers has rained from

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<v Speaker 9>the remnants of Hurricane Eric dowst the region. At least

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<v Speaker 9>one death was confirmed one year old boy who drowned

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<v Speaker 9>in a swollen river. The fallout continues after a SpaceX

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<v Speaker 9>rocket that was being tested and prepared for a flight

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<v Speaker 9>at the Texas star Base exploded on the test stand

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<v Speaker 9>Wednesday Night's explosion has raised environmental concerns. This man was

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<v Speaker 9>nearby when it happened.

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<v Speaker 10>I was there, just under two miles away. At first

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<v Speaker 10>I saw it, and I really couldn't believe what was

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<v Speaker 10>happening in my own eyes. It was almost like an

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<v Speaker 10>out of body experience.

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<v Speaker 9>SpaceX was preparing for a routine static fire test, loading

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<v Speaker 9>fuel before igniting the starship's engines. They believe a pressurized

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<v Speaker 9>tank exploded, setting off the series of blasts triple a

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<v Speaker 9>for Jack's a record number of people to hit the

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<v Speaker 9>road for the Independence Day holiday period. Spokesperson A keys

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<v Speaker 9>At Diaz says the group expects an increase of one

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<v Speaker 9>point seven million travelers over last year.

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<v Speaker 11>We're expecting overall seventy two point two million people traveling

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<v Speaker 11>between June twenty eighth and July sixth. A majority of

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<v Speaker 11>those people, about eighty five percent of them, are expected

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<v Speaker 11>to drive.

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<v Speaker 9>Global News twenty four hours a day and whenever you

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<v Speaker 9>want it with Bloomberg News.

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<v Speaker 3>Now.

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<v Speaker 9>I'm Michael Barr, and this is Bloomberg Karen.

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<v Speaker 3>All right, Michael Barr, thank you time now for abot

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<v Speaker 3>Bloomberg scores UF date brought to you by Flushing Bag.

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<v Speaker 3>And here's Joan Stanshawer, John, Good.

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<v Speaker 12>Morning morning here in the NBA Finals, not over yet.

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<v Speaker 12>Indiana had lost two games in a row of spacing

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<v Speaker 12>elimination against Oklahoma City, the Pacers playing at home. We're

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<v Speaker 12>not ready for their season to end. That comes top

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<v Speaker 12>of the other way. You rarely see that come home ground.

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<v Speaker 12>He spent the three, puts it in Hernsteyle in the rebound,

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<v Speaker 12>puts it on the floor. Knock out of his hands

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<v Speaker 12>by Siaka and Isaiah.

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<v Speaker 2>Joe gets a Haliburton to steal.

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<v Speaker 12>There comes Haliburton Siaka, They Smith counter three ABC bakes.

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<v Speaker 12>Second quarter won by Indiana thirty six to seventeen. The

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<v Speaker 12>Pacers took a thirty point late to the fourth quarter.

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<v Speaker 12>The final was one O eight ninety one. The X

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<v Speaker 12>ding Obie Tompin led balance scoring with twenty points, Andrew

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<v Speaker 12>nemart ad In seventeen, Fascal Siakam sixteen with thirteen rebounds.

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<v Speaker 12>Game seven Sunday at ok See, twentieth game seven NBA

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<v Speaker 12>Finals history, the first since Cleveland being Golden State in

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<v Speaker 12>twenty sixteen. A few hours after the Yankees ended their

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<v Speaker 12>six game losing streak, the Mets skid reached six a

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<v Speaker 12>seven to one loss in Atlanta. Praise with a four

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<v Speaker 12>runs sixth inning, held the Mets to six hits, and

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<v Speaker 12>when the Phillies won, the Mets and phil stood tied

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<v Speaker 12>for first as they begin a weekend series Tonight in Filled.

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<v Speaker 12>The Yankee win was seven to three at the Stadium,

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<v Speaker 12>finally beat the Angels, avoided getting swept four games at

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<v Speaker 12>home for the first time in four years. Yanks Tonight

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<v Speaker 12>post Baltimore Nationals finally beat the lowly Rockies to end

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<v Speaker 12>their eleven game losing streak. Now they have to play

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<v Speaker 12>the Dodgers. Scottie Scheffler won the Travelers Golf near Hartford

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<v Speaker 12>a year ago, and he's got to share the first

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<v Speaker 12>round lead after an eight under par sixty two. Rory McElroy,

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<v Speaker 12>two shots behind CJ. Moseley through the Jets, released in March,

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<v Speaker 12>announced his retirement, ending a ten year career. First five

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<v Speaker 12>with the Ravens, last five with the Jets. He was

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<v Speaker 12>a five time Pro Bowl linebacker. Johns danshchewer Bloomberg Sports

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<v Speaker 12>Karen Nikkan.

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<v Speaker 1>Coast to coast on Bloomberg Radio nationwide on Serious Exam

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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 opp This is Bloomberg Daybreak.

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<v Speaker 2>Good morning, I'm Nathan Hager. Within the next two weeks,

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<v Speaker 2>that's when the White House says President Donald Trump will

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<v Speaker 2>decide whether to join Israel and strikes against Iron Spokeswoman

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<v Speaker 2>Caroline levin It says, if there's a chance at diplomacy,

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<v Speaker 2>the president will always grab it. But she says there

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<v Speaker 2>is one thing the world can agree on.

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<v Speaker 4>Iran cannot obtain a nuclear weapon. This is something that

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<v Speaker 4>pretty much all of humanity except for the Iranian terrorist

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<v Speaker 4>regime themselves, agree upon.

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<v Speaker 2>That was White House Press Secretary Caroline Levitt announcing the

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<v Speaker 2>two week deadline. For more. We are joined by Bloomberg

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<v Speaker 2>News Senior editor Bill Ferries. Bill, as you know, President

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<v Speaker 2>Trump has said things could come within two weeks many

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<v Speaker 2>times during both his presidencies. How to take this latest signal?

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<v Speaker 2>Good morning, Good morning.

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<v Speaker 10>Well, I wouldn't mark an X on your calendar for

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<v Speaker 10>two weeks from today, and think that that's necessarily some

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<v Speaker 10>sort of urgent deadline. What I think the President's decision

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<v Speaker 10>does is open the door to continuing diplomacy, to more

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<v Speaker 10>diplomacy both between the US and Iran, but also between

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<v Speaker 10>Iran and Europeans and of course with Israel. So it

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<v Speaker 10>gives some time for this back and forth between Iran

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<v Speaker 10>and Israel to play out, a little bit, time for

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<v Speaker 10>de escalation. And you know, we've we know the president

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<v Speaker 10>has really struggled over this decision, that his Maga base

0:12:18.640 --> 0:12:22.200
<v Speaker 10>is really torn over it. So it allows a little

0:12:22.200 --> 0:12:24.640
<v Speaker 10>bit of a reprieve from that political pressure he was

0:12:24.679 --> 0:12:26.920
<v Speaker 10>facing from his own party as well.

0:12:27.320 --> 0:12:30.320
<v Speaker 2>At the same time, Bill we heard from Iran's foreign

0:12:30.400 --> 0:12:34.400
<v Speaker 2>minister just this morning saying that Iran can't negotiate with

0:12:34.480 --> 0:12:38.720
<v Speaker 2>the US while Israel is continuing attacks. Where does that leave.

0:12:38.559 --> 0:12:43.480
<v Speaker 10>Things, Well, the Iranians have they are going to be

0:12:43.559 --> 0:12:47.400
<v Speaker 10>meeting with some of the European foreign ministers, including from

0:12:47.480 --> 0:12:51.640
<v Speaker 10>the UK, of France and Germany. So there's certainly a

0:12:51.760 --> 0:12:54.960
<v Speaker 10>chance for the US to get messages in and to

0:12:55.000 --> 0:12:58.040
<v Speaker 10>receive messages from Iran through that way.

0:12:58.320 --> 0:12:58.959
<v Speaker 1>And I think.

0:12:58.800 --> 0:13:01.720
<v Speaker 10>Iran is trying to you know, trying to keep a

0:13:01.800 --> 0:13:05.720
<v Speaker 10>little bit of daylight between Israel and the United States

0:13:05.760 --> 0:13:08.560
<v Speaker 10>on this issue. Like I said, it has been a

0:13:08.600 --> 0:13:12.360
<v Speaker 10>tough decision for President Trump to make. Despite the US

0:13:12.520 --> 0:13:15.800
<v Speaker 10>history of supporting Israel, it's not clear that the Trump

0:13:15.800 --> 0:13:19.360
<v Speaker 10>administration wants to go as far as perhaps Israel is

0:13:19.400 --> 0:13:20.840
<v Speaker 10>interested in seeing it go.

0:13:21.800 --> 0:13:25.719
<v Speaker 2>How far could Israel go? I mean, there's been ongoing

0:13:25.720 --> 0:13:30.800
<v Speaker 2>attacks on nuclear facilities as well as ballistic missile sites.

0:13:31.200 --> 0:13:36.080
<v Speaker 2>If Israel is aiming to completely destroy Iran's nuclear capabilities,

0:13:36.120 --> 0:13:37.680
<v Speaker 2>can it do it without the US?

0:13:39.120 --> 0:13:43.200
<v Speaker 10>Well, some of those facilities, particularly the Fordau facility, is

0:13:43.320 --> 0:13:46.240
<v Speaker 10>buried deep in a mountain. It's not believed that, you know,

0:13:46.360 --> 0:13:50.079
<v Speaker 10>constant bombing or missiles from Israel will really do the trick.

0:13:50.440 --> 0:13:53.160
<v Speaker 10>The US is the only country that has this bunker

0:13:53.280 --> 0:13:58.480
<v Speaker 10>buster bomb that it could deploy if it were interested

0:13:58.559 --> 0:14:01.880
<v Speaker 10>in getting engaged. It's not even totally clear that that

0:14:02.000 --> 0:14:04.160
<v Speaker 10>would do the trick. I mean this, these are very

0:14:04.200 --> 0:14:07.720
<v Speaker 10>well fortified facilities. But it certainly has the best chance.

0:14:07.760 --> 0:14:10.360
<v Speaker 10>And that's really why Israel wants the US to engage

0:14:10.360 --> 0:14:10.800
<v Speaker 10>in this.

0:14:11.480 --> 0:14:14.280
<v Speaker 2>All right, And while the President is still weighing this

0:14:14.360 --> 0:14:18.600
<v Speaker 2>decision on getting the military more involved in Iran. He's

0:14:18.600 --> 0:14:21.520
<v Speaker 2>gotten a legal victory when it comes to deploying the

0:14:21.600 --> 0:14:26.720
<v Speaker 2>National Guard in Los Angeles. What's the latest here, Yeah.

0:14:26.480 --> 0:14:26.920
<v Speaker 9>That's right.

0:14:26.960 --> 0:14:30.520
<v Speaker 10>A three judge panel in San Francisco, a federal appeals panel,

0:14:30.840 --> 0:14:34.720
<v Speaker 10>ruled that the Trump administration can keep using those California

0:14:34.800 --> 0:14:40.000
<v Speaker 10>National Guard troops to respond to the protests in Los Angeles.

0:14:40.680 --> 0:14:43.480
<v Speaker 10>There's been a big fight over this, with the California

0:14:43.720 --> 0:14:49.200
<v Speaker 10>governor and the State of California basically arguing that Trump

0:14:49.280 --> 0:14:53.920
<v Speaker 10>did not have the legal authority to deploy those forces

0:14:53.960 --> 0:14:57.000
<v Speaker 10>the way they were called up. For now, at least,

0:14:57.080 --> 0:15:00.800
<v Speaker 10>it looks like those forces will remain under federal control

0:15:01.080 --> 0:15:05.040
<v Speaker 10>in the streets. They're largely protecting federal buildings. They haven't

0:15:05.040 --> 0:15:08.440
<v Speaker 10>been involved really closely with the area that the protests

0:15:08.440 --> 0:15:10.960
<v Speaker 10>were centered on. But I think it's part of a

0:15:10.960 --> 0:15:13.960
<v Speaker 10>bigger picture here of the Trump administration wanting to keep

0:15:14.000 --> 0:15:17.200
<v Speaker 10>this power in reserve if it needs to do this

0:15:17.600 --> 0:15:19.880
<v Speaker 10>elsewhere in California or elsewhere in the country.

0:15:20.120 --> 0:15:22.400
<v Speaker 2>And in our last thirty seconds, this isn't the end

0:15:22.400 --> 0:15:24.480
<v Speaker 2>of the case, right, There's still a chance for appeal

0:15:24.480 --> 0:15:25.840
<v Speaker 2>by California.

0:15:26.360 --> 0:15:31.240
<v Speaker 10>Absolutely, California will very likely appeal. Actually, the appeals court

0:15:31.480 --> 0:15:34.200
<v Speaker 10>that made this decision, it was just a three judge panel.

0:15:34.920 --> 0:15:37.600
<v Speaker 10>The broader court as a whole could still take it up.

0:15:38.280 --> 0:15:40.160
<v Speaker 10>And you know, this is another one of the many,

0:15:40.240 --> 0:15:43.880
<v Speaker 10>many court cases in this administration that could eventually end

0:15:43.960 --> 0:15:45.120
<v Speaker 10>up at the Supreme Court.

0:15:45.440 --> 0:15:48.880
<v Speaker 3>This is Bloomberg Daybreak, your morning podcast on the stories

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<v Speaker 12>Ray