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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today and Karen.

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Speaker 3: Oil is on the rise again after gaining the most

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Speaker 3: since October yesterday this morning, West Texas Intermediate is up

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Speaker 3: one percent. That's as Axios has reported, the Trump administration

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Speaker 3: is closer to a major war in the Middle East

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Speaker 3: than most expect. Axios says a US operation would likely

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Speaker 3: be a week's long campaign. We get more from Bloomberg

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Speaker 3: Managing editor Paul Wallace in Dubai.

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Speaker 4: It sounds as if Iron has roughly two weeks to

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Speaker 4: get back to the Americans, and then if they're broadly satisfied,

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Speaker 4: the Americans will say, okay, let's go to round three.

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Speaker 4: And we don't know where that will be. But of

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Speaker 4: course there are plenty of people, including in the oil market,

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Speaker 4: who think America might be essentially trying to allowl Ran

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Speaker 4: into a false of security and maybe willing to strike

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Speaker 4: the country, you know, before Iran, you know, returns with

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Speaker 4: those proposals, because that's you know, in some senses, that

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Speaker 4: echoes what happened in June last year with the twelve

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Speaker 4: day war between Iran and Israel and then America at

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Speaker 4: the end. You know that will happen when, or at

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Speaker 4: least it started when the US and Iran were in

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Speaker 4: the middle of nuclear talks.

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Speaker 3: Bloomberg's Paul Waller says the US has announced visa restrictions

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Speaker 3: on Iranian officials and executives for repressing recent anti regime

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Speaker 3: protests and cutting off internet access.

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Speaker 2: Now Nathan to the latest fallout from the Jeffrey Epstein files.

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Speaker 2: Billionaire retail mogul Les Wesner testified behind closed doors about

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Speaker 2: his relationship with the late sex offender to Democrats on

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Speaker 2: the House Overside Committee. The former CEO of L Brand

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Speaker 2: said he visited Epstein's private island once with his wife

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Speaker 2: and children, but was unaware of any sex trafficking operation,

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Speaker 2: and he repeatedly said he could not recall the key

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Speaker 2: details of his relationship with the late sex offender, including

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Speaker 2: giving him considerable financial support. Arizona Democrat Yesim and Ansari

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Speaker 2: says it's all on the record.

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Speaker 5: He allowed Jeffrey Epstein to live in his homes, to

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Speaker 5: have hundreds of millions of his dollars to use his

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Speaker 5: yachts and his planes. This was obviously a very very

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Speaker 5: close relationship, and so far what we have seen is

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Speaker 5: a denial of that relationship.

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Speaker 2: Congressoman Yesim and Ansari spoke to reporters from Ohio, where

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Speaker 2: Wexner agreed to testify under an agreement with the committee.

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Speaker 2: The Justice Department named Wexner as one of the ten

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Speaker 2: co conspirators in its twenty nineteen investigation into Epstein. Wexner

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Speaker 2: was not charged in the case and says he was

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Speaker 2: duped by Epstein well.

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Speaker 3: Meanwhile, Karen Bill Gates has backed out of a speech

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Speaker 3: at the high profile AI summit in India, just hours

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Speaker 3: before he was due to speak. In a post on

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Speaker 3: x the Gates Foundation said the Microsoft co founder made

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Speaker 3: the decision to make sure the focus remains on the

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Speaker 3: event's key prior parties. Gates has come under criticism for

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Speaker 3: his ties to Epstein. The Gates Foundation did not mention

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Speaker 3: the financier and its statement, but Gates has called his

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Speaker 3: relationship with the late sex defender a huge mistake.

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Speaker 2: Nathan, Let's get to the latest in the search for

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Speaker 2: Nancy Guthrie. It's been nineteen days since the mother of

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Speaker 2: Today's Show host Savannah Guthrie was last seen at her

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Speaker 2: home near Tucson. Police are still looking for new leeds

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Speaker 2: as they sort through upwards of fifty thousand tips. Pima

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Speaker 2: County Sheriff Chris Nanos spoke with BBC News.

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Speaker 6: I think she's somewhere here the work locally.

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Speaker 7: No, what makes you think that.

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Speaker 2: I just do.

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Speaker 6: I don't know why.

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Speaker 8: I don't have any evidence to prove that, but I

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Speaker 8: just believe that she's somewhere locally.

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Speaker 2: Pima County Sheriff Chris Nano's speaking to the BBC. The

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Speaker 2: sheriff has come under some criticism for his handling of

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Speaker 2: the investigation. He declared the scene at Nancy Guthrie's home

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Speaker 2: done three days after her disappearance, only to return later,

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Speaker 2: and he has not held a news conference in almost

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Speaker 2: two weeks. In an interview with The Wall Street Journal,

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Speaker 2: Nanos some of the criticism is politically motivated, and in

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Speaker 2: his words, haters are going to hate.

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Speaker 3: Karen Meta CEO Mark Zuckerberg has testified in a social

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Speaker 3: media and safety trial in Los Angeles. He says it's

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Speaker 3: very difficult to enforce Instagram's age limits, but Zuckerberg says

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Speaker 3: Meta has introduced some proactive tools to try to identify

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Speaker 3: and remove accounts that violate the rules, but he calls

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Speaker 3: it a challenging problem. Bloomberg Kurt Wagner says, this is

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Speaker 3: a signature moment for social media to.

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Speaker 9: Kind of be challenged with these allegations, and in Mark

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Speaker 9: Zuckerberg's case, to defend himself and his company against these accusations.

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Speaker 9: And so it's been highly watched, highly anticipated, and this

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Speaker 9: is just really the first of more than a thousand

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Speaker 9: potential trials that we could see.

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Speaker 3: Bloomberg's Kurt Wagner says, this trial centers on a twenty

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Speaker 3: year old woman who blames Meta's Instagram and Google's YouTube

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Speaker 3: for her years of mental health struggles.

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Speaker 2: Well Nathan, Bloomberg News has learned open Ai is close

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Speaker 2: to final the first phase of a new funding round

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Speaker 2: that's expected to bring in more than one hundred billion dollars.

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Speaker 2: Source of say the overall valuation of the company, including

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Speaker 2: the eventual funding, could exceed eight hundred and fifty billion.

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Speaker 2: Brad Smith is Vice chair and president of Microsoft, a

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Speaker 2: key OpenAI partner, and he says the chat GPT maker

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Speaker 2: is branching out.

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Speaker 10: It's not as exclusive as it was, say a few

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Speaker 10: years ago. OpenAI uses our compute they train models in

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Speaker 10: our data centers, but they work with other companies as well.

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Speaker 10: We critically rely on OpenAI's frontier models. They are among

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Speaker 10: the best. Many days they are the best in the world,

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Speaker 10: but we have a relationship with anthropic.

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Speaker 2: Microsoft's Bread Smith made the comments earlier in an interview

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Speaker 2: with Bloomberg, and you can check out that interview as

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Speaker 2: well as live streaming news, all our Bloomberg TV shows, documentaries,

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Speaker 2: and more. It's all in one place at Bloomberg dot Com.

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Speaker 2: Forward to slash videos.

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Speaker 6: It's turn to the markets now, Karen.

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Speaker 3: Futures have turned lower after yesterday's gains on Wall Street.

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Speaker 3: The NASDAK dumped eight tenths of one percent. Barbara Reinhardt

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Speaker 3: is Chief investment Officer of Multi asset Strategies at Voya

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Speaker 3: Investment Management.

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Speaker 11: Short term are very oversold at this point. Look, you've

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Speaker 11: had a thirty three percent correction in US software stocks

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Speaker 11: from their peak in October of last year. It seems

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Speaker 11: to be a bit overdone and somewhat indiscriminate selling at

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Speaker 11: this point. So I don't think there's a reason for

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Speaker 11: us to go to cash at this point. Earnings for

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Speaker 11: the fourth quarter. We're very strong earned your visions are

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Speaker 11: still holding in their relatively well, and the labor market,

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Speaker 11: which is a big part of consumer spending, seems to

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Speaker 11: be getting a second second breeder at this.

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Speaker 3: Point, Voya Investment Management's Barbara Reinhardt. The Nasdaq is still

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Speaker 3: down more than five percent from its all time high

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Speaker 3: from late October. We have this red headline crossing the

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Speaker 3: Bloomberg terminal, Karen. The BBC is reporting that the UK's

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Speaker 3: former Prince Andrew has been arrested on suspicion of misconduct

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Speaker 3: in public office. The report shows cars arriving at the

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Speaker 3: former Princess Sandrimis State comes after local police said they

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Speaker 3: were assessing a complaint that the former prince may have

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Speaker 3: shared confidential material with the late sex offender Jeffrey Epstein.

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Speaker 3: Andrew has denied any wrongdoing. Again, the BBC is reporting

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Speaker 3: former Prince Andrew of the UK has been arrested on

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Speaker 3: suspicion of misconduct in public office.

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Speaker 2: Time now for look at some of the other stories

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Speaker 2: making news in New York and around the world, and

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Speaker 2: for that we're joined by Bloomberg's Michael Barr.

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Speaker 12: Michael, good morning, Good morning, Karen in New Jersey. Flights

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Speaker 12: in and out of Newark Airport were temporarily suspended last

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Speaker 12: evening after a reported engine failure forced a Jet Blue

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Speaker 12: flight to return to the airport and evacuate passengers shortly

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Speaker 12: after takeoff. The flight heading to West Palm Beach immediately

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Speaker 12: returned to the airport after takeoff. This passenger says, while

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Speaker 12: everyone remained calm in the air, once they were safely

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Speaker 12: evacuated on the slide, it became emotional.

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Speaker 13: Everybody was panicked, but the moment we got off the plane,

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Speaker 13: everybody was. There was a lot of release of emotions,

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Speaker 13: a lot of tears and shaking and shoutings.

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Speaker 12: Airport operations resumed after flight five forty three was removed

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Speaker 12: from the taxiway. Authorities say the bodies of eight backcountry

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Speaker 12: skiers have been found and one remains missing after Tuesday's

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Speaker 12: avalanche near Lake Tahoe in California. Six others were found alive.

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Speaker 12: Heavy snow and the threat of additional avalanches slowed the

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Speaker 12: rescue effort in the mountains near Castle Peak, Nevada County

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Speaker 12: Sheriff Shannon.

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Speaker 7: Moon it's a very remote, rugged area on the north

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Speaker 7: side of the highway. There it is not a groomed

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Speaker 7: area or a ski resort area. This is a back

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Speaker 7: country area, rugged terrain.

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Speaker 12: Sheriff Moon says this is the deadliest skiing avalanche in

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Speaker 12: modern US history. The New York area could get another

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Speaker 12: winter storm system this weekend. Bloomberg medirologist Rob Carolyn has

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Speaker 12: the latest.

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Speaker 14: Michael, the weather pattern's getting rather active. We've got another

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Speaker 14: weather system which is going to bring rain to the

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Speaker 14: Tristed area late tonight and tomorrow, then a stronger storm

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Speaker 14: system which could potentially affect the area's Sunday and on

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Speaker 14: into Monday. The problem right now is the computer models

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Speaker 14: aren't in agreement. Some of them take it out to

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Speaker 14: see to the south of the Tristate area don't bring

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Speaker 14: us any precipitation at all, and some of them bring

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Speaker 14: it close enough to us that we'll be dealing with

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Speaker 14: some snow during the day on Sunday that would end

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Speaker 14: Monday morning. We'll be keeping a watch on this over

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Speaker 14: the next several days. I'm Rob Carolyn, Bloomberg Radio.

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Speaker 12: Global News twenty four hours a day and whenever you

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Speaker 12: want it with the Bloomberg News. Now, Michael Barr And

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Speaker 12: this is Bloomberg.

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Speaker 2: Hemon Well thanks Michael all the time. Now for our

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Speaker 2: Bloomberg Sports update, and for that we bring in John

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Speaker 2: stash Hour.

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Speaker 8: Guys, darreny was quite a day at the Olympics, with

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Speaker 8: the Kayals shiffer in winning the gold medal in the slalom,

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Speaker 8: and three quarter final hockey games went to overtime, including

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Speaker 8: Team USA's dramatic two to one victory over Sweden women's hockey.

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Speaker 8: Today the US versus Canada for the gold medal and

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Speaker 8: Jordan Stoles goes for a third gold medal in Speedskatie.

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Speaker 8: Just a couple of days after Tony Clark resigned as

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Speaker 8: the head of the Baseball Players Association, they've promoted his assistant,

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Speaker 8: Bruce Meyer. That's a Bloomberg Sports Update.

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Speaker 6: Stay with us.

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Speaker 2: More from Bloomberg Daybreak coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 6: Good morning on Nathan Hager.

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Speaker 3: After the latest ground of Iran nuclear talks, both the

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Speaker 3: US and Iran said they had made progress on a deal,

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Speaker 3: but oil is on the rise. This morning on reports

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Speaker 3: the US maybe edging closer to war than many Americans

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Speaker 3: might think.

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Speaker 6: Here's White House Press Secretary Caroline Levitt.

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Speaker 15: The President has always been very clear though, with respect

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Speaker 15: to Iran or any country around the world, diplomacy is

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Speaker 15: always his first option, and Iran would be very wise

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Speaker 15: to make a deal with President Trump and with this administration.

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Speaker 3: White House Press Secretary Caroline Levitt. This morning, we're joined

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Speaker 3: from Dubai by Bloomberg News Managing editor Paul Wallace. Paul,

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Speaker 3: that sounds like a veiled threat. Is that how Iran

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Speaker 3: is taking it? This morning?

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Speaker 6: Good morning, Hi, good morning.

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Speaker 4: Yes, it is a threat of Iran for sure. The

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Speaker 4: thing is that the Americans in the White House, they've

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Speaker 4: been pretty consistent in the last few weeks. They have

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Speaker 4: said publicly that they want to try to make the

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Speaker 4: negotiations with Iran work, to try to resolve this diplomatically.

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Speaker 4: They've said they know it will be very difficult. Dealing

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Speaker 4: with the Islamic Republic is anything but easy. But at

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Speaker 4: the same time, if they don't reach a deal, if

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Speaker 4: Iran doesn't agree to a deal, then it should be

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Speaker 4: prepared for military action, which I think is something you know,

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Speaker 4: Caroline Levitt was reiterating yesterday.

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Speaker 6: I think what you've.

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Speaker 4: Got also, you know, to note, is you've got a

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Speaker 4: massive build up of US forces in the region, naval

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Speaker 4: ships and jets as well, and a second aircraft carrier

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Speaker 4: is on the way and should be in the Middle

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Speaker 4: East pretty soon. So this is a huge amount of

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Speaker 4: but looking bigger than what the US had off the

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Speaker 4: coast of Venezuela in you know, December and at the

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Speaker 4: beginning of January before it captured Nicholas Maduro. So there's

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Speaker 4: a lot of military hardware there. It seems as if

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Speaker 4: the US is pretty much ready to go, the military

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Speaker 4: is ready to go to moments notice, if Trump decides

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Speaker 4: to go that route. And there are some people who

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Speaker 4: think that even though the US is saying it will

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Speaker 4: let to promise you run its course, that it may

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Speaker 4: not actually do that. It may decide to strike whilst

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Speaker 4: the talks are ongoing and before there's been any collapse

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Speaker 4: in them. So that's something that's sort of hanging over

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Speaker 4: the oil market right now, and I think that's a

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Speaker 4: big reason why.

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Speaker 14: Is rising.

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Speaker 6: Paul.

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Speaker 3: What are we hearing about whether the administration is close

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Speaker 3: to making that decision, what's the latest that we're hearing.

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Speaker 3: We've only got about thirty seconds left.

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Speaker 6: Yeah.

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Speaker 4: To be honest, I don't think it's a cliche in

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Speaker 4: this situation to say only Donald Trump knows. I mean,

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Speaker 4: some of the things we're hearing from the White House

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Speaker 4: suggests that even pretty senior White House people don't know

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Speaker 4: that Donald Trump is going to make that decision himself,

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Speaker 4: and he hasn't fully let on what he'll do yet.

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Speaker 12: Dabray