Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today and Karen.
Speaker 3: Oil is on the rise again after gaining the most
Speaker 3: since October yesterday this morning, West Texas Intermediate is up
Speaker 3: one percent. That's as Axios has reported, the Trump administration
Speaker 3: is closer to a major war in the Middle East
Speaker 3: than most expect. Axios says a US operation would likely
Speaker 3: be a week's long campaign. We get more from Bloomberg
Speaker 3: Managing editor Paul Wallace in Dubai.
Speaker 4: It sounds as if Iron has roughly two weeks to
Speaker 4: get back to the Americans, and then if they're broadly satisfied,
Speaker 4: the Americans will say, okay, let's go to round three.
Speaker 4: And we don't know where that will be. But of
Speaker 4: course there are plenty of people, including in the oil market,
Speaker 4: who think America might be essentially trying to allowl Ran
Speaker 4: into a false of security and maybe willing to strike
Speaker 4: the country, you know, before Iran, you know, returns with
Speaker 4: those proposals, because that's you know, in some senses, that
Speaker 4: echoes what happened in June last year with the twelve
Speaker 4: day war between Iran and Israel and then America at
Speaker 4: the end. You know that will happen when, or at
Speaker 4: least it started when the US and Iran were in
Speaker 4: the middle of nuclear talks.
Speaker 3: Bloomberg's Paul Waller says the US has announced visa restrictions
Speaker 3: on Iranian officials and executives for repressing recent anti regime
Speaker 3: protests and cutting off internet access.
Speaker 2: Now Nathan to the latest fallout from the Jeffrey Epstein files.
Speaker 2: Billionaire retail mogul Les Wesner testified behind closed doors about
Speaker 2: his relationship with the late sex offender to Democrats on
Speaker 2: the House Overside Committee. The former CEO of L Brand
Speaker 2: said he visited Epstein's private island once with his wife
Speaker 2: and children, but was unaware of any sex trafficking operation,
Speaker 2: and he repeatedly said he could not recall the key
Speaker 2: details of his relationship with the late sex offender, including
Speaker 2: giving him considerable financial support. Arizona Democrat Yesim and Ansari
Speaker 2: says it's all on the record.
Speaker 5: He allowed Jeffrey Epstein to live in his homes, to
Speaker 5: have hundreds of millions of his dollars to use his
Speaker 5: yachts and his planes. This was obviously a very very
Speaker 5: close relationship, and so far what we have seen is
Speaker 5: a denial of that relationship.
Speaker 2: Congressoman Yesim and Ansari spoke to reporters from Ohio, where
Speaker 2: Wexner agreed to testify under an agreement with the committee.
Speaker 2: The Justice Department named Wexner as one of the ten
Speaker 2: co conspirators in its twenty nineteen investigation into Epstein. Wexner
Speaker 2: was not charged in the case and says he was
Speaker 2: duped by Epstein well.
Speaker 3: Meanwhile, Karen Bill Gates has backed out of a speech
Speaker 3: at the high profile AI summit in India, just hours
Speaker 3: before he was due to speak. In a post on
Speaker 3: x the Gates Foundation said the Microsoft co founder made
Speaker 3: the decision to make sure the focus remains on the
Speaker 3: event's key prior parties. Gates has come under criticism for
Speaker 3: his ties to Epstein. The Gates Foundation did not mention
Speaker 3: the financier and its statement, but Gates has called his
Speaker 3: relationship with the late sex defender a huge mistake.
Speaker 2: Nathan, Let's get to the latest in the search for
Speaker 2: Nancy Guthrie. It's been nineteen days since the mother of
Speaker 2: Today's Show host Savannah Guthrie was last seen at her
Speaker 2: home near Tucson. Police are still looking for new leeds
Speaker 2: as they sort through upwards of fifty thousand tips. Pima
Speaker 2: County Sheriff Chris Nanos spoke with BBC News.
Speaker 6: I think she's somewhere here the work locally.
Speaker 7: No, what makes you think that.
Speaker 2: I just do.
Speaker 6: I don't know why.
Speaker 8: I don't have any evidence to prove that, but I
Speaker 8: just believe that she's somewhere locally.
Speaker 2: Pima County Sheriff Chris Nano's speaking to the BBC. The
Speaker 2: sheriff has come under some criticism for his handling of
Speaker 2: the investigation. He declared the scene at Nancy Guthrie's home
Speaker 2: done three days after her disappearance, only to return later,
Speaker 2: and he has not held a news conference in almost
Speaker 2: two weeks. In an interview with The Wall Street Journal,
Speaker 2: Nanos some of the criticism is politically motivated, and in
Speaker 2: his words, haters are going to hate.
Speaker 3: Karen Meta CEO Mark Zuckerberg has testified in a social
Speaker 3: media and safety trial in Los Angeles. He says it's
Speaker 3: very difficult to enforce Instagram's age limits, but Zuckerberg says
Speaker 3: Meta has introduced some proactive tools to try to identify
Speaker 3: and remove accounts that violate the rules, but he calls
Speaker 3: it a challenging problem. Bloomberg Kurt Wagner says, this is
Speaker 3: a signature moment for social media to.
Speaker 9: Kind of be challenged with these allegations, and in Mark
Speaker 9: Zuckerberg's case, to defend himself and his company against these accusations.
Speaker 9: And so it's been highly watched, highly anticipated, and this
Speaker 9: is just really the first of more than a thousand
Speaker 9: potential trials that we could see.
Speaker 3: Bloomberg's Kurt Wagner says, this trial centers on a twenty
Speaker 3: year old woman who blames Meta's Instagram and Google's YouTube
Speaker 3: for her years of mental health struggles.
Speaker 2: Well Nathan, Bloomberg News has learned open Ai is close
Speaker 2: to final the first phase of a new funding round
Speaker 2: that's expected to bring in more than one hundred billion dollars.
Speaker 2: Source of say the overall valuation of the company, including
Speaker 2: the eventual funding, could exceed eight hundred and fifty billion.
Speaker 2: Brad Smith is Vice chair and president of Microsoft, a
Speaker 2: key OpenAI partner, and he says the chat GPT maker
Speaker 2: is branching out.
Speaker 10: It's not as exclusive as it was, say a few
Speaker 10: years ago. OpenAI uses our compute they train models in
Speaker 10: our data centers, but they work with other companies as well.
Speaker 10: We critically rely on OpenAI's frontier models. They are among
Speaker 10: the best. Many days they are the best in the world,
Speaker 10: but we have a relationship with anthropic.
Speaker 2: Microsoft's Bread Smith made the comments earlier in an interview
Speaker 2: with Bloomberg, and you can check out that interview as
Speaker 2: well as live streaming news, all our Bloomberg TV shows, documentaries,
Speaker 2: and more. It's all in one place at Bloomberg dot Com.
Speaker 2: Forward to slash videos.
Speaker 6: It's turn to the markets now, Karen.
Speaker 3: Futures have turned lower after yesterday's gains on Wall Street.
Speaker 3: The NASDAK dumped eight tenths of one percent. Barbara Reinhardt
Speaker 3: is Chief investment Officer of Multi asset Strategies at Voya
Speaker 3: Investment Management.
Speaker 11: Short term are very oversold at this point. Look, you've
Speaker 11: had a thirty three percent correction in US software stocks
Speaker 11: from their peak in October of last year. It seems
Speaker 11: to be a bit overdone and somewhat indiscriminate selling at
Speaker 11: this point. So I don't think there's a reason for
Speaker 11: us to go to cash at this point. Earnings for
Speaker 11: the fourth quarter. We're very strong earned your visions are
Speaker 11: still holding in their relatively well, and the labor market,
Speaker 11: which is a big part of consumer spending, seems to
Speaker 11: be getting a second second breeder at this.
Speaker 3: Point, Voya Investment Management's Barbara Reinhardt. The Nasdaq is still
Speaker 3: down more than five percent from its all time high
Speaker 3: from late October. We have this red headline crossing the
Speaker 3: Bloomberg terminal, Karen. The BBC is reporting that the UK's
Speaker 3: former Prince Andrew has been arrested on suspicion of misconduct
Speaker 3: in public office. The report shows cars arriving at the
Speaker 3: former Princess Sandrimis State comes after local police said they
Speaker 3: were assessing a complaint that the former prince may have
Speaker 3: shared confidential material with the late sex offender Jeffrey Epstein.
Speaker 3: Andrew has denied any wrongdoing. Again, the BBC is reporting
Speaker 3: former Prince Andrew of the UK has been arrested on
Speaker 3: suspicion of misconduct in public office.
Speaker 2: Time now for look at some of the other stories
Speaker 2: making news in New York and around the world, and
Speaker 2: for that we're joined by Bloomberg's Michael Barr.
Speaker 12: Michael, good morning, Good morning, Karen in New Jersey. Flights
Speaker 12: in and out of Newark Airport were temporarily suspended last
Speaker 12: evening after a reported engine failure forced a Jet Blue
Speaker 12: flight to return to the airport and evacuate passengers shortly
Speaker 12: after takeoff. The flight heading to West Palm Beach immediately
Speaker 12: returned to the airport after takeoff. This passenger says, while
Speaker 12: everyone remained calm in the air, once they were safely
Speaker 12: evacuated on the slide, it became emotional.
Speaker 13: Everybody was panicked, but the moment we got off the plane,
Speaker 13: everybody was. There was a lot of release of emotions,
Speaker 13: a lot of tears and shaking and shoutings.
Speaker 12: Airport operations resumed after flight five forty three was removed
Speaker 12: from the taxiway. Authorities say the bodies of eight backcountry
Speaker 12: skiers have been found and one remains missing after Tuesday's
Speaker 12: avalanche near Lake Tahoe in California. Six others were found alive.
Speaker 12: Heavy snow and the threat of additional avalanches slowed the
Speaker 12: rescue effort in the mountains near Castle Peak, Nevada County
Speaker 12: Sheriff Shannon.
Speaker 7: Moon it's a very remote, rugged area on the north
Speaker 7: side of the highway. There it is not a groomed
Speaker 7: area or a ski resort area. This is a back
Speaker 7: country area, rugged terrain.
Speaker 12: Sheriff Moon says this is the deadliest skiing avalanche in
Speaker 12: modern US history. The New York area could get another
Speaker 12: winter storm system this weekend. Bloomberg medirologist Rob Carolyn has
Speaker 12: the latest.
Speaker 14: Michael, the weather pattern's getting rather active. We've got another
Speaker 14: weather system which is going to bring rain to the
Speaker 14: Tristed area late tonight and tomorrow, then a stronger storm
Speaker 14: system which could potentially affect the area's Sunday and on
Speaker 14: into Monday. The problem right now is the computer models
Speaker 14: aren't in agreement. Some of them take it out to
Speaker 14: see to the south of the Tristate area don't bring
Speaker 14: us any precipitation at all, and some of them bring
Speaker 14: it close enough to us that we'll be dealing with
Speaker 14: some snow during the day on Sunday that would end
Speaker 14: Monday morning. We'll be keeping a watch on this over
Speaker 14: the next several days. I'm Rob Carolyn, Bloomberg Radio.
Speaker 12: Global News twenty four hours a day and whenever you
Speaker 12: want it with the Bloomberg News. Now, Michael Barr And
Speaker 12: this is Bloomberg.
Speaker 2: Hemon Well thanks Michael all the time. Now for our
Speaker 2: Bloomberg Sports update, and for that we bring in John
Speaker 2: stash Hour.
Speaker 8: Guys, darreny was quite a day at the Olympics, with
Speaker 8: the Kayals shiffer in winning the gold medal in the slalom,
Speaker 8: and three quarter final hockey games went to overtime, including
Speaker 8: Team USA's dramatic two to one victory over Sweden women's hockey.
Speaker 8: Today the US versus Canada for the gold medal and
Speaker 8: Jordan Stoles goes for a third gold medal in Speedskatie.
Speaker 8: Just a couple of days after Tony Clark resigned as
Speaker 8: the head of the Baseball Players Association, they've promoted his assistant,
Speaker 8: Bruce Meyer. That's a Bloomberg Sports Update.
Speaker 6: Stay with us.
Speaker 2: More from Bloomberg Daybreak coming up after this.
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 6: Good morning on Nathan Hager.
Speaker 3: After the latest ground of Iran nuclear talks, both the
Speaker 3: US and Iran said they had made progress on a deal,
Speaker 3: but oil is on the rise. This morning on reports
Speaker 3: the US maybe edging closer to war than many Americans
Speaker 3: might think.
Speaker 6: Here's White House Press Secretary Caroline Levitt.
Speaker 15: The President has always been very clear though, with respect
Speaker 15: to Iran or any country around the world, diplomacy is
Speaker 15: always his first option, and Iran would be very wise
Speaker 15: to make a deal with President Trump and with this administration.
Speaker 3: White House Press Secretary Caroline Levitt. This morning, we're joined
Speaker 3: from Dubai by Bloomberg News Managing editor Paul Wallace. Paul,
Speaker 3: that sounds like a veiled threat. Is that how Iran
Speaker 3: is taking it? This morning?
Speaker 6: Good morning, Hi, good morning.
Speaker 4: Yes, it is a threat of Iran for sure. The
Speaker 4: thing is that the Americans in the White House, they've
Speaker 4: been pretty consistent in the last few weeks. They have
Speaker 4: said publicly that they want to try to make the
Speaker 4: negotiations with Iran work, to try to resolve this diplomatically.
Speaker 4: They've said they know it will be very difficult. Dealing
Speaker 4: with the Islamic Republic is anything but easy. But at
Speaker 4: the same time, if they don't reach a deal, if
Speaker 4: Iran doesn't agree to a deal, then it should be
Speaker 4: prepared for military action, which I think is something you know,
Speaker 4: Caroline Levitt was reiterating yesterday.
Speaker 6: I think what you've.
Speaker 4: Got also, you know, to note, is you've got a
Speaker 4: massive build up of US forces in the region, naval
Speaker 4: ships and jets as well, and a second aircraft carrier
Speaker 4: is on the way and should be in the Middle
Speaker 4: East pretty soon. So this is a huge amount of
Speaker 4: but looking bigger than what the US had off the
Speaker 4: coast of Venezuela in you know, December and at the
Speaker 4: beginning of January before it captured Nicholas Maduro. So there's
Speaker 4: a lot of military hardware there. It seems as if
Speaker 4: the US is pretty much ready to go, the military
Speaker 4: is ready to go to moments notice, if Trump decides
Speaker 4: to go that route. And there are some people who
Speaker 4: think that even though the US is saying it will
Speaker 4: let to promise you run its course, that it may
Speaker 4: not actually do that. It may decide to strike whilst
Speaker 4: the talks are ongoing and before there's been any collapse
Speaker 4: in them. So that's something that's sort of hanging over
Speaker 4: the oil market right now, and I think that's a
Speaker 4: big reason why.
Speaker 14: Is rising.
Speaker 6: Paul.
Speaker 3: What are we hearing about whether the administration is close
Speaker 3: to making that decision, what's the latest that we're hearing.
Speaker 3: We've only got about thirty seconds left.
Speaker 6: Yeah.
Speaker 4: To be honest, I don't think it's a cliche in
Speaker 4: this situation to say only Donald Trump knows. I mean,
Speaker 4: some of the things we're hearing from the White House
Speaker 4: suggests that even pretty senior White House people don't know
Speaker 4: that Donald Trump is going to make that decision himself,
Speaker 4: and he hasn't fully let on what he'll do yet.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
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Speaker 2: stay informed all day long. I'm Karen Moscow.
Speaker 6: And I'm Nathan Hager.
Speaker 3: Join us again tomorrow morning for all the news you
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Speaker 12: Dabray