WEBVTT - US-Iran Talks Get Complicated; Stephen Colbert's Final Show

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

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen efforts to end the war, where Iran are getting

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<v Speaker 3>complicated now and Iranian media report says the latest US

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<v Speaker 3>proposal to stop the fighting has narrowed the gaps to

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<v Speaker 3>some extent. But Reuters is reporting that Iran Supreme Leader

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<v Speaker 3>mocht To Bhamani has ordered the country's highly enriched geranium

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<v Speaker 3>stockpile not to be sent abroad. President Trump says that

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<v Speaker 3>is a non starter.

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<v Speaker 4>We get the highly enriched, we will get it. We

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<v Speaker 4>don't need it, we don't want it. We'll probably destroy

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<v Speaker 4>it after we get it, but we're not going to let.

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<v Speaker 2>Them have it.

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<v Speaker 3>The President Trump's also coming out against a plan by

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<v Speaker 3>Iran and Oman to set up a permanent toll system

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<v Speaker 3>through the Strait of horm Moves. Bloomberg Stewart Livingston Wallace

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<v Speaker 3>reports that could be a major sticking point.

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<v Speaker 5>This is, as Trump says, an international Wolshoy condition that

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<v Speaker 5>you don't have tolls on that, and I think it

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<v Speaker 5>would be very difficult for the international community, not least

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<v Speaker 5>the liberal states here, and you know, the regional states

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<v Speaker 5>to accept that going forward, they have to pay a

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<v Speaker 5>toll to either Iran or o'mano both in order to

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<v Speaker 5>move their goods through.

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<v Speaker 3>Bloomberg Steart living Ston Wallace reports President Trump's threatened to

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<v Speaker 3>resume attacks within days if Iran does not agree to

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<v Speaker 3>his terms, though he has made that threat several times before.

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<v Speaker 2>Meantime, Nathan on Capitol Hill, House Republican leaders abruptly called

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<v Speaker 2>off a vote to authorize the Iran War. Armed Services

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<v Speaker 2>Chair Mike Rodgers says not enough Republicans or president for

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<v Speaker 2>the vote. Massachusetts Democrat Jim mc govern says, it's because

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<v Speaker 2>they're running out of support. Cash prices it through the road.

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<v Speaker 6>People can't afford.

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<v Speaker 3>People can afford their groceries.

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<v Speaker 7>Is that why you're pulling it?

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<v Speaker 3>You guys don't have the gos.

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<v Speaker 8>The the House will be in order.

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<v Speaker 2>Democrat Jim mc govern blasted the canceled vote on the

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<v Speaker 2>House floor. Last week, the House ted on a similar

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<v Speaker 2>vote that Democrats have been forcing repeatedly to highlight the

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<v Speaker 2>growing economic toll from the war and Karin.

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<v Speaker 3>The war could also be affecting President Trump's decision to

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<v Speaker 3>sign off on a fourteen billion dollar arm sale to Taiwan.

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<v Speaker 3>Acting Navy Secretary Hon Kou told a Senate committee that

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<v Speaker 3>the US has put a temporary hold on arm sales

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<v Speaker 3>to the island to ensure the US has enough supplies

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<v Speaker 3>for the conflict. A spokesman for Taiwan's president says there

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<v Speaker 3>is currently no indication that the US plans to make

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<v Speaker 3>any adjustments to the sale.

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<v Speaker 2>Nathan President Trump says he plans to send five thousand

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<v Speaker 2>troops to Poland. The decision reverses a plan to suspend

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<v Speaker 2>an army deployment to Poland, which was paused by the

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<v Speaker 2>Pentagon a week earlier. Began more from Bloomberg Chief European

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<v Speaker 2>correspondent Oliver.

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<v Speaker 9>Crook, the United States found that actually the quickest way

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<v Speaker 9>to pull troops out of Europe was to block the

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<v Speaker 9>rotation that was coming into Poland. And obviously Poland is

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<v Speaker 9>seen as a more model ally at the moment to

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<v Speaker 9>the United States because they're not being as disparaging as

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<v Speaker 9>Donald Trump. And they sort of reversed that move saying

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<v Speaker 9>that actually they're going to send five thousand troops to Poland.

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<v Speaker 9>So I think net we're talking about still a reduction

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<v Speaker 9>in truth for the Germans, but they didn't want to

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<v Speaker 9>punish the polls. Interestingly, for some reason, Donald Trump and

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<v Speaker 9>cited the fact that the Poles had elected the president

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<v Speaker 9>who was an ally of Trump, but that was August

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<v Speaker 9>of last year, so anyway, it was a sort of

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<v Speaker 9>a jumbled message here. But it seems that broadly speaking,

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<v Speaker 9>still their plan is to remove troops from Germany. They

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<v Speaker 9>don't want to punish Poland. And overall, we should say

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<v Speaker 9>that the American posture is they do want to reduce

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<v Speaker 9>their troop levels in Europe.

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<v Speaker 4>Overall.

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<v Speaker 2>Bloomberg Chief European correspondent Oliver Crooks's President Trump has suggested

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<v Speaker 2>a broader draw down of the US's eighty five thousand

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<v Speaker 2>military personnel in Europe, and that's in the works.

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<v Speaker 10>Man.

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<v Speaker 3>Back here in the US, Karen the Senate has left

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<v Speaker 3>Washington for a week long recess without passing President Trump's

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<v Speaker 3>seventy two billion dollar immigration package. Bloomberg Zamy Morris reports

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<v Speaker 3>from Washington.

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<v Speaker 10>Republican Senator Shelley Moore Capito explains there were just too

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<v Speaker 10>many questions about the President's so called anti weaponization fund.

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<v Speaker 11>It just became much more complicated. A lot of questions

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<v Speaker 11>about what is this fund, who decides who's eligible, how

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<v Speaker 11>did it come about, Why are we hearing about this now?

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<v Speaker 10>Senator Shelley Moore Capito on balance of power. Senate Minority

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<v Speaker 10>Leader Chuck Schumer says, there is a way forward.

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<v Speaker 5>Stop backing the slush fund, stop pushing the ballroom, and

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<v Speaker 5>as soon as we get back, join Democrats in fighting

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<v Speaker 5>to lower americans costs.

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<v Speaker 10>The bill had already faced significant pushback from Republicans over

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<v Speaker 10>using the bill to fund Trump's ballroom in Washington. Amy

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<v Speaker 10>Moore as Bloomberg Radio.

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<v Speaker 2>Rightimi, thank you all. This is shaping up to be

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<v Speaker 2>one of the most expensive Memorial Days on record, as

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<v Speaker 2>millions get set hit the road this weekend. The price

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<v Speaker 2>of gasoline is more than forty percent higher than a

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<v Speaker 2>year ago. Bloomberg Economic reporter Mark knick Khatz says that's

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<v Speaker 2>not the only thing rising for consumers.

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<v Speaker 12>We're starting to see a big increase in food prices,

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<v Speaker 12>but in particular prices for things like beef and lettuce

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<v Speaker 12>and tomatoes. The average ground beef prices in April broke

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<v Speaker 12>the seven dollars per pound threshold for the first time,

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<v Speaker 12>and steak is now past thirteen dollars a pound. Tomatoes

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<v Speaker 12>are up forty percent compared to this time last year.

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<v Speaker 12>That's the biggest jump since two thousand.

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<v Speaker 2>And four, and Bloomberg's Marketnikhead says economists expect food prices

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<v Speaker 2>to keep rising, in part because of the diminished supply

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<v Speaker 2>and rising prices of fertilizer as a result of the

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<v Speaker 2>around war. You can get more details on the cost

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<v Speaker 2>of Memorial Day on our special holiday edition of Bloomberg Daybreak.

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<v Speaker 2>Catch that at five am Wall Street Time on Monday,

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<v Speaker 2>or on the Daybreak podcast, available wherever you download.

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<v Speaker 3>Well, Karen, It's the end of an era. In late night,

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<v Speaker 3>Stephen Colvert has hosted his final episode of his CBS

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<v Speaker 3>show and Bloomberg's Alexis Christophers joins us from New York

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<v Speaker 3>with the recap Alexis.

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<v Speaker 11>Good Morning, Nathan. It was an emotional final show after

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<v Speaker 11>eleven years and eighteen hundred monologue. Stephen Colbert mostly steered

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<v Speaker 11>clear of political jokes and criticism of President Trump in

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<v Speaker 11>a star studded final show on CBS. The parade of

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<v Speaker 11>actors and comedians included Brian Kranston, Paul Rudd, Tim Ryan Reynolds, Who's.

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<v Speaker 13>Going to be my last guest.

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<v Speaker 14>Now, ayc what about me?

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<v Speaker 11>Musician Paul McCartney was Colbert's final guest. He appeared with

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<v Speaker 11>the Beatles on The Ed Sullivan Show, which filmed in

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<v Speaker 11>the same theater as Colbert Day Stop. Colbert was singing

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<v Speaker 11>back up there. Last year a CBS said it was

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<v Speaker 11>canceling the Late Show because of financial reasons and not

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<v Speaker 11>because of its content. In New York, Alexis Christophers Bloomberg Radio.

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<v Speaker 2>Right, Alexis, thank you. As Colbert departs CBS. It's a

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<v Speaker 2>new tenure at the Federal Reserve. This morning, Kevin Warshall

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<v Speaker 2>be sworn in his FED sherman by President Trump at

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<v Speaker 2>the White House. Bloomberg Economics Anna Wong notes that warsh

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<v Speaker 2>has said he is committed to preserving the Fed's independence.

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<v Speaker 13>You know, at his confirmation hearing, he vigorously denied the

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<v Speaker 13>idea that he has promised Trump rate cuts. And also,

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<v Speaker 13>I think a sizeable portion of market participants, including ourselves,

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<v Speaker 13>suspect that Kevin warsh in fact is a hawk at

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<v Speaker 13>the heart of things. But the reality is the market

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<v Speaker 13>is already doing the hiking for him, and he may

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<v Speaker 13>be happy about that.

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<v Speaker 2>Bloomberg Economic Chief US Economist and A Wong. Let's get

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<v Speaker 2>to a setback now, Nathan for elon Musk, SpaceX and Bloomberg.

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<v Speaker 2>John Tucker joins us with the latest. John, Good morning, Good.

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<v Speaker 6>Morning, Karen. The launch of Starship, the biggest and most

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<v Speaker 6>powerful rocket ever built, was scrubbed with just forty seconds

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<v Speaker 6>to go, waiting.

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<v Speaker 3>To see if the launch director confirms go for launch

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<v Speaker 3>and they're in a hold.

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<v Speaker 6>A pen holding the tower arm in place failed to

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<v Speaker 6>retract at the South Texas launch facility. The mission was

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<v Speaker 6>set a day after Musk company filed publicly for an IPO.

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<v Speaker 6>As part of that filing, SpaceX has proposed a number

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<v Speaker 6>of ambitious initiatives that require a Starship to be fully operational.

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<v Speaker 6>For much of last year, Starship's test flight suffered from

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<v Speaker 6>repeated explosions. The next launch window will open late this afternoon.

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<v Speaker 6>I'm John Tucker, Bloomberg Radio.

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<v Speaker 3>As we head into Memorial Day weekend, Karen, the auto

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<v Speaker 3>racing world is morning the death of Kyle Busch, the

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<v Speaker 3>two time Cup Series champion, won more races than anyone

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<v Speaker 3>across NASCAR's three national series. Bush's family says he was

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<v Speaker 3>hospitalized with a severe illness three days before he was

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<v Speaker 3>set to compete in the Coca Cola six hundred at

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<v Speaker 3>Charlotte Motor Speedway. Kyle Busch was forty one years old.

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<v Speaker 3>No cause of death was given.

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<v Speaker 2>Time now for a look at some of the other

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<v Speaker 2>stories making news in New York and around the world,

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<v Speaker 2>and for that we're joined by Bloomberg's Michael Barr. Michael,

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<v Speaker 2>good Morning, Good morning.

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<v Speaker 7>Karen. Uganda has closed its border with Democratic Republic of

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<v Speaker 7>Congo to check the spread of an outbreak of the

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<v Speaker 7>deadly E Bowla virus. It comes as health officials are

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<v Speaker 7>defending the decision to bar a Detroit bound Air France

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<v Speaker 7>passenger traveling from an Ebola hot zone in Central Africa

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<v Speaker 7>from entering the US. The flight from Paris was diverted

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<v Speaker 7>to Canada, where that passenger did plane. This woman was

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<v Speaker 7>a passenger on the flight.

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<v Speaker 4>The flight attendants all had masks on which no one

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<v Speaker 4>had had on prior to that announcement, so it was

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<v Speaker 4>really concerning, like what is going on here?

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<v Speaker 7>Canadian officials say the passenger did not show symptoms and

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<v Speaker 7>is unlikely to spread the ebolavirus. The US is now

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<v Speaker 7>denying entry to anyone without a US passport who has

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<v Speaker 7>recently traveled through the affected regions. Any American coming home

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<v Speaker 7>from the areas have to fly to Washington Dulles Airport

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<v Speaker 7>to be screened by the CDC. Questions of being raised

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<v Speaker 7>over how former Cuban President Rooul Castro would be brought

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<v Speaker 7>to the US to face charges. On Wednesday, the US

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<v Speaker 7>issued a federal indictment charging Castro with murder over his

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<v Speaker 7>alleged role in shooting down two planes that were carrying

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<v Speaker 7>Humanitari eight to the island in nineteen ninety six. Four

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<v Speaker 7>US nationals were killed. The Trump administration has been vague

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<v Speaker 7>in its answers to bring Castro to the US. Secretary

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<v Speaker 7>of State Marco Rubio, Well.

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<v Speaker 3>I'm not going to talk about how we're going to

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<v Speaker 3>get him here. If we were trying to get him here,

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<v Speaker 3>why would I say to the media what our plans

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<v Speaker 3>are about that.

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<v Speaker 6>I know you have to ask, But why.

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<v Speaker 2>Would I answer that?

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<v Speaker 7>Today? Secretary Rubio will attend a NATO Foreign minister's meeting

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<v Speaker 7>in Sweden. British police are appealing for witnesses in their

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<v Speaker 7>investigation into potential offenses by former Prince Andrew, including sexual misconduct.

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<v Speaker 7>A woman alleges she was taken to Windsor in twenty

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<v Speaker 7>ten for sexual purposes. Andrew has repeatedly denied any wrongdoing.

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<v Speaker 7>Global News twenty four hours a day and whenever you

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<v Speaker 7>want it with the Bloomberg News. Now, Michael Barn This

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<v Speaker 7>is Bloomberg Karen.

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<v Speaker 2>Thanks Michael. Time now for our Bloomberg Sports updating. For that,

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<v Speaker 2>we bring in John stash Hour.

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<v Speaker 8>Thanks darn. Tragic news from nascular Kyle Busch died suddenly

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<v Speaker 8>at the age of forty one. He was planning to

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<v Speaker 8>be in this weekend. He was the Cup Series champion

0:11:01.840 --> 0:11:05.400
<v Speaker 8>twice in twenty fifteen to nineteeny one, sixty three Cup

0:11:05.480 --> 0:11:08.280
<v Speaker 8>Series races in the NBA Playoffs, another win for the Knicks.

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<v Speaker 8>They've won nine in a row. They've be in Cleveland

0:11:10.360 --> 0:11:12.640
<v Speaker 8>in New York one o nine to ninety three. Josh

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<v Speaker 8>Hart score twenty six points to the next lead the

0:11:14.559 --> 0:11:17.200
<v Speaker 8>East Finals two games to none Game one, and the

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<v Speaker 8>Stanley Coupiast Final in Montreal, won sixty two at Carolina.

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<v Speaker 8>That's you, Bloomberg Sports fifteen.

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<v Speaker 2>Stay with us. More from Bloomberg Day Break coming up

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<v Speaker 2>after this.

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<v Speaker 1>Coast to Coast on Bloomberg Radio nationwide on Sirius XM

0:11:35.440 --> 0:11:38.280
<v Speaker 1>and around the world on Bloomberg dot Com and the

0:11:38.320 --> 0:11:41.760
<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 3>Good Morning on Nathan Hager. Is The standoff between the

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<v Speaker 3>US and Iran continues. Tehran says the latest US proposal

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<v Speaker 3>to end the fighting has narrowed the gaps to some extent,

0:11:50.600 --> 0:11:53.160
<v Speaker 3>but President Trump says he won't budge when it comes

0:11:53.160 --> 0:11:56.280
<v Speaker 3>to Iran giving up its enriched geranium.

0:11:55.559 --> 0:11:58.480
<v Speaker 2>Right now when negotiating, and we'll see.

0:11:58.760 --> 0:12:00.840
<v Speaker 8>But either we're gonna get it way the other they're

0:12:00.840 --> 0:12:01.160
<v Speaker 8>not going.

0:12:01.080 --> 0:12:02.000
<v Speaker 7>To have a nuclear open.

0:12:02.160 --> 0:12:04.600
<v Speaker 3>That was President Trump speaking in the Oval Office, joining

0:12:04.679 --> 0:12:07.000
<v Speaker 3>us from Dubai. This morning is Bloomberg News Middle East

0:12:07.040 --> 0:12:11.320
<v Speaker 3>Managing Editor Paul Wallace. Paul, where do things stand now

0:12:11.400 --> 0:12:14.560
<v Speaker 3>in the talks? It seems like we keep hearing conflicting statements.

0:12:14.600 --> 0:12:17.319
<v Speaker 3>Good morning, Hi, Good morning.

0:12:17.640 --> 0:12:21.080
<v Speaker 14>Yes, we're still in that phase where each side, both

0:12:21.080 --> 0:12:25.240
<v Speaker 14>the Uranians in the US are making conflicting statements and

0:12:25.440 --> 0:12:30.880
<v Speaker 14>vacillating between threats to resume hostilities or react powerfully to

0:12:30.920 --> 0:12:36.880
<v Speaker 14>any new strikes on their territory, and also some optimistic

0:12:36.880 --> 0:12:38.920
<v Speaker 14>words thrown in there as well. I think it is

0:12:39.000 --> 0:12:43.439
<v Speaker 14>notable that the Iranians yesterday, through their state media, said

0:12:43.520 --> 0:12:48.960
<v Speaker 14>that the latest US proposal proposal partly bridged the gaps

0:12:49.559 --> 0:12:55.920
<v Speaker 14>between between the warring countries, and Marco Rubio on his

0:12:56.000 --> 0:13:00.800
<v Speaker 14>trip to Europe, the Sectary of State has said similar that,

0:13:01.000 --> 0:13:04.480
<v Speaker 14>you know, there has been slight levels of progress, so

0:13:04.679 --> 0:13:07.680
<v Speaker 14>they're being cautious, but it is the first time in

0:13:08.040 --> 0:13:12.960
<v Speaker 14>at least a week that either side is talking about

0:13:13.640 --> 0:13:16.400
<v Speaker 14>Iran in the US potentially moving closer to a deal,

0:13:16.440 --> 0:13:19.679
<v Speaker 14>but it's still we're still in a very fragile phase

0:13:19.840 --> 0:13:23.200
<v Speaker 14>and there's no guarantee that we won't see a return

0:13:23.320 --> 0:13:27.280
<v Speaker 14>to a hot war in the coming few days or weeks.

0:13:27.559 --> 0:13:29.679
<v Speaker 3>And in the meantime, Paul, we're hearing more as well

0:13:29.720 --> 0:13:32.560
<v Speaker 3>from the United Arab Emirates about this week's drone attack

0:13:32.640 --> 0:13:35.400
<v Speaker 3>on one of its nuclear power plants. What's the UAE

0:13:35.520 --> 0:13:36.280
<v Speaker 3>saying now.

0:13:37.760 --> 0:13:40.760
<v Speaker 14>So this was a drone attack on Sunday on the

0:13:40.880 --> 0:13:44.120
<v Speaker 14>UAE's only nuclear power plant. It's the biggest in the

0:13:44.160 --> 0:13:47.760
<v Speaker 14>Middle East. It's called Baraka and it's it's close to

0:13:47.800 --> 0:13:51.800
<v Speaker 14>the border with Saudi Arabia. One drone got through the

0:13:51.840 --> 0:13:56.720
<v Speaker 14>air defenses and hit a power station for the nuclear plant,

0:13:57.320 --> 0:14:00.439
<v Speaker 14>and that forced the engineers to turn on a agency

0:14:00.520 --> 0:14:05.240
<v Speaker 14>generators to keep the plant going. So it was a

0:14:05.280 --> 0:14:09.880
<v Speaker 14>serious attack for sure, we think the first one on

0:14:09.920 --> 0:14:14.040
<v Speaker 14>that facility certainly since the war began. And the UA

0:14:14.080 --> 0:14:16.440
<v Speaker 14>is saying this is you know, essentially outrageous and a

0:14:16.520 --> 0:14:22.000
<v Speaker 14>huge threat to two countries around the region, and it's

0:14:22.040 --> 0:14:24.600
<v Speaker 14>calling on the world to take more notice of this.

0:14:25.000 --> 0:14:29.120
<v Speaker 14>It's saying the drone the drones came from Iraq. Now

0:14:29.160 --> 0:14:33.160
<v Speaker 14>that's also a pretty interesting and potentially alarming development because

0:14:33.200 --> 0:14:38.200
<v Speaker 14>it seems as if Iran's Iran supported militias in Iraq

0:14:38.560 --> 0:14:42.120
<v Speaker 14>are playing an increasingly important role in this war and

0:14:42.680 --> 0:14:45.000
<v Speaker 14>are you know, being used to carry out attacks on

0:14:45.040 --> 0:14:45.760
<v Speaker 14>Arab states.

0:14:46.760 --> 0:14:50.200
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