1
00:00:00,720 --> 00:00:03,960
Speaker 1: News when you want it with Bloomberg News Now, I

2
00:00:04,040 --> 00:00:07,400
Speaker 1: met Kleggi. The Trump administration is seeking to delay court

3
00:00:07,400 --> 00:00:11,600
Speaker 1: proceedings over whether it must refund importers billions of dollars

4
00:00:11,640 --> 00:00:14,400
Speaker 1: in tariffs recently struck down by the US Supreme Court,

5
00:00:14,760 --> 00:00:17,079
Speaker 1: Marking a contentious start to the next phase of the

6
00:00:17,160 --> 00:00:19,720
Speaker 1: legal fight. The government wants to wait as long as

7
00:00:19,760 --> 00:00:23,239
Speaker 1: four months before reviving litigation before the US Court of

8
00:00:23,280 --> 00:00:27,720
Speaker 1: International Trade on the refund question. The government lawyers criticized

9
00:00:27,760 --> 00:00:30,200
Speaker 1: attorneys for companies in one of the lead cases for

10
00:00:30,280 --> 00:00:33,360
Speaker 1: pressing to reopen the legal wrangling as soon as possible.

11
00:00:33,600 --> 00:00:37,280
Speaker 1: Anthropic says it has not received any direct communication from

12
00:00:37,280 --> 00:00:39,800
Speaker 1: the Department of War or the White House on the

13
00:00:39,840 --> 00:00:43,520
Speaker 1: status of negotiations and will challenge any supply chain risk

14
00:00:43,640 --> 00:00:48,560
Speaker 1: designation in court. The Pentagon earlier declared Anthropica supply chain

15
00:00:48,680 --> 00:00:52,400
Speaker 1: risk after President Trump directed US government agencies to stop

16
00:00:52,520 --> 00:00:56,680
Speaker 1: using the artificial intelligence giant's products. The Pentagon wants to

17
00:00:56,760 --> 00:01:00,680
Speaker 1: use Anthropics Claude chatbot for any purpose within the legal limits,

18
00:01:00,920 --> 00:01:04,479
Speaker 1: but without any usage restrictions from Anthropic. The firm has

19
00:01:04,520 --> 00:01:07,679
Speaker 1: insisted that claud not be used for mass surveillance against

20
00:01:07,720 --> 00:01:13,000
Speaker 1: Americans or in fully autonomous weapons operations. Open Ai says

21
00:01:13,040 --> 00:01:15,600
Speaker 1: it has reached an agreement with the US Department of

22
00:01:15,680 --> 00:01:19,640
Speaker 1: War to deploy its models in their classified network. CEO

23
00:01:19,800 --> 00:01:22,040
Speaker 1: Sam Altman said in a post on x that two

24
00:01:22,040 --> 00:01:26,280
Speaker 1: of open AI's most important safety principles are prohibitions on

25
00:01:26,360 --> 00:01:30,360
Speaker 1: domestic mass surveillance and human responsibility for the use of force,

26
00:01:30,800 --> 00:01:35,320
Speaker 1: including four autonomous weapons systems. Paramount says it has entered

27
00:01:35,319 --> 00:01:38,720
Speaker 1: a definitive merger agreement to acquire Warner Brothers. The transaction

28
00:01:38,840 --> 00:01:42,080
Speaker 1: values Warner Brothers at an enterprise value of one hundred

29
00:01:42,120 --> 00:01:45,080
Speaker 1: ten billion dollars. The deal has been unanimously approved by

30
00:01:45,120 --> 00:01:48,000
Speaker 1: boards of both companies and is expected to close in

31
00:01:48,040 --> 00:01:51,279
Speaker 1: the third quarter. Paramount will issue forty seven billion dollars

32
00:01:51,320 --> 00:01:53,880
Speaker 1: of new Class B shares at sixteen dollars two cents

33
00:01:53,880 --> 00:01:56,840
Speaker 1: a share, supported by a fully committed investment from the

34
00:01:56,880 --> 00:02:00,640
Speaker 1: Ellison family in Redbird Capital Partners. Adding to this, Paramount

35
00:02:00,680 --> 00:02:02,960
Speaker 1: has paid the two point eight billion dollar breakup VEO

36
00:02:03,040 --> 00:02:06,120
Speaker 1: to Netflix after dropping its plan deal to buy parts

37
00:02:06,120 --> 00:02:10,040
Speaker 1: of Warner Brothers. Countries including the US, UK and China,

38
00:02:10,080 --> 00:02:13,799
Speaker 1: evacuated embassy staff in the Middle East and issued travel advisories.

39
00:02:14,120 --> 00:02:17,000
Speaker 1: I made concerns about a regional conflict as President Trump

40
00:02:17,080 --> 00:02:20,440
Speaker 1: Friday sounded downbeat about diplomatic talks meant to avert air

41
00:02:20,440 --> 00:02:23,880
Speaker 1: strikes on Iran. The President commented on the situation while

42
00:02:23,919 --> 00:02:26,880
Speaker 1: in Corpus Christi, Texas, saying the US now has a

43
00:02:26,919 --> 00:02:29,880
Speaker 1: big decision to make on Iran. Well, they're going, I mean,

44
00:02:29,919 --> 00:02:32,400
Speaker 1: we're negotiating right now, but they're not getting to the

45
00:02:32,440 --> 00:02:36,440
Speaker 1: right answer. I'm not concerned, No, No, I'm concerned about

46
00:02:36,440 --> 00:02:39,640
Speaker 1: people's lives. I've long term health.

47
00:02:39,360 --> 00:02:41,320
Speaker 2: For this country. That's what I'm concerned about.

48
00:02:41,600 --> 00:02:44,120
Speaker 1: The US on Friday told non emergency staff and it's

49
00:02:44,120 --> 00:02:46,840
Speaker 1: embassy in Jerusalem that they're allowed to leave Israel, with

50
00:02:46,880 --> 00:02:50,600
Speaker 1: the country being vulnerable to Iranian retaliation if it participates

51
00:02:50,600 --> 00:02:53,959
Speaker 1: in a US attack. US and Iranian officials have agreed

52
00:02:53,960 --> 00:02:57,000
Speaker 1: to resume nuclear talks next week in Vienna, as the

53
00:02:57,080 --> 00:02:59,680
Speaker 1: US continues to build up its military presence in the

54
00:02:59,680 --> 00:03:04,079
Speaker 1: Regil Jennifer Welch's chief geoeconomics analyst for Bloomberg Economics.

55
00:03:04,160 --> 00:03:06,760
Speaker 2: After pulling out of the nuclear deal that the Obama

56
00:03:06,800 --> 00:03:10,840
Speaker 2: administration structured, the President is now aiming to negotiate a

57
00:03:10,919 --> 00:03:14,520
Speaker 2: new deal with Iran. The challenge is that, from Tehran's perspective,

58
00:03:14,680 --> 00:03:16,560
Speaker 2: they already agreed to a deal, and the US is

59
00:03:16,600 --> 00:03:18,600
Speaker 2: the one that renegged on it, And now the US

60
00:03:18,720 --> 00:03:21,200
Speaker 2: is asking for far more at a time in which

61
00:03:21,320 --> 00:03:24,160
Speaker 2: Tehran feels it has far fewer options and its back

62
00:03:24,200 --> 00:03:26,400
Speaker 2: is already up against the wall. So this is a

63
00:03:26,440 --> 00:03:27,640
Speaker 2: really tense situation.

64
00:03:27,919 --> 00:03:32,640
Speaker 1: Bloomberg Economics analyst Jennifer Welch on Bloomberg Surveillance. Former President

65
00:03:32,639 --> 00:03:35,360
Speaker 1: Bill Clinton delivered a sweeping denial of any knowledge of

66
00:03:35,400 --> 00:03:38,680
Speaker 1: Jeffrey Epstein's crimes as he began closed door testimony Friddy

67
00:03:38,720 --> 00:03:42,600
Speaker 1: before a House committee investigating the disgraced financiers political connections.

68
00:03:43,040 --> 00:03:45,960
Speaker 1: Clinton city had no idea of the crimes Epstein was committing,

69
00:03:45,960 --> 00:03:49,240
Speaker 1: and described their relationship as a brief acquaintance that ended

70
00:03:49,360 --> 00:03:53,080
Speaker 1: years before Epstein's conduct became public. Clinton on Friday became

71
00:03:53,080 --> 00:03:56,240
Speaker 1: the first former US president forced to testify to Congress.

72
00:03:56,560 --> 00:03:59,800
Speaker 1: His wife, former US Secretary of State, Hillary Clinton, testified

73
00:03:59,800 --> 00:04:03,080
Speaker 1: before for the same panel Thursday. It's onto the trading

74
00:04:03,120 --> 00:04:05,720
Speaker 1: month of March, after a down February for the US

75
00:04:05,760 --> 00:04:08,880
Speaker 1: stock market. We get more from Bloomberg's Charlie Pellett.

76
00:04:08,600 --> 00:04:10,920
Speaker 3: Four the month, the S and P five hundred index

77
00:04:11,040 --> 00:04:13,800
Speaker 3: was down point nine percent. On the week, the index

78
00:04:13,920 --> 00:04:18,800
Speaker 3: was down point four percent. Stocks declined on geopolitical concerns

79
00:04:18,839 --> 00:04:23,400
Speaker 3: and issues relating to private credit. Bank stocks were particularly

80
00:04:23,520 --> 00:04:27,080
Speaker 3: hard hit. The KBW Bank index was down four point

81
00:04:27,160 --> 00:04:30,960
Speaker 3: nine percent. Wells Fargo analyst Mike Mayos says fresh credit

82
00:04:31,000 --> 00:04:33,960
Speaker 3: worries are hurting banks now. On the week, the Dow

83
00:04:34,080 --> 00:04:36,920
Speaker 3: dropped one point three percent, as deck this week down

84
00:04:36,960 --> 00:04:39,520
Speaker 3: almost one percent in New York.

85
00:04:39,640 --> 00:04:44,320
Speaker 1: Charlie Palette Bloomberg Radio SpaceX is targeting filing confidentially for

86
00:04:44,360 --> 00:04:46,800
Speaker 1: an initial public offering as soon as next month, as

87
00:04:46,839 --> 00:04:50,200
Speaker 1: billionaire Lone Musk's rocket and satellite company moves forward with

88
00:04:50,279 --> 00:04:53,560
Speaker 1: plans for the biggest ever listing. The Star based, Texas

89
00:04:53,560 --> 00:04:57,080
Speaker 1: based firm expects to submit its straft IPO registration to

90
00:04:57,200 --> 00:04:59,720
Speaker 1: the SEC in March. Such a move would keep it

91
00:04:59,720 --> 00:05:02,119
Speaker 1: on t track for June listing, making it the first

92
00:05:02,120 --> 00:05:04,680
Speaker 1: of what could be a trio of mega IPOs, with

93
00:05:04,800 --> 00:05:08,960
Speaker 1: Open AI and Anthropic potentially coming after NASA is shaking

94
00:05:09,080 --> 00:05:11,880
Speaker 1: up its Artamus mission to the Moon, canceling a multi

95
00:05:11,920 --> 00:05:15,200
Speaker 1: billion dollar Boeing upgrade to the centerpiece SLS rocket, and

96
00:05:15,240 --> 00:05:18,760
Speaker 1: adding another test flight to a program beset by delays

97
00:05:18,760 --> 00:05:22,840
Speaker 1: and cost overruns. The changes announced Friday mean that NASA

98
00:05:22,920 --> 00:05:26,040
Speaker 1: is swapping the actual moon landing for an additional mission

99
00:05:26,080 --> 00:05:29,080
Speaker 1: closer to Earth, while insisting the twenty twenty eight deadline

100
00:05:29,160 --> 00:05:33,960
Speaker 1: for a lunar touchdown remains unchanged. And singer songwriter Nil Sadaka,

101
00:05:34,040 --> 00:05:37,440
Speaker 1: who succeeded in two different eras and was best known

102
00:05:37,520 --> 00:05:39,680
Speaker 1: for a songs such as Breaking Up Is Hard to

103
00:05:39,760 --> 00:05:42,880
Speaker 1: Do and Love Will Keep Us Together, has died. He

104
00:05:43,040 --> 00:05:45,640
Speaker 1: was eighty six. The Friday numbers on Wall Street, the

105
00:05:45,680 --> 00:05:48,200
Speaker 1: Down lost five to twenty one. That's just over one percent.

106
00:05:48,640 --> 00:05:51,400
Speaker 1: NASDAK fell two ten. That's just under one percent. The

107
00:05:51,520 --> 00:05:53,960
Speaker 1: S and P dropped twenty nine. The ten year Treasury

108
00:05:54,000 --> 00:05:56,760
Speaker 1: yeald three point nine four percent, the two year three

109
00:05:56,800 --> 00:05:59,720
Speaker 1: point three eight percent. That's a new fifty two week low.

110
00:06:00,200 --> 00:06:02,839
Speaker 1: That's news when you want it with Bloomberg News Now

111
00:06:03,200 --> 00:06:06,120
Speaker 1: I made Kleggy. This is Bloomberg