WEBVTT - Hormuz Deal Elusive, Iran Shakes Up Security Team, More

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<v Speaker 1>News when you want it with Bloomberg News Now. I'm

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<v Speaker 1>Dan Schwartzman. Oil is extending gains. That is after iron

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<v Speaker 1>says an agreement with Homan establishing a shipping route through

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<v Speaker 1>the Strait of Hormuz was quote very close, but remain

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<v Speaker 1>short of a final deal. But they have ruled out

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<v Speaker 1>direct talks with the US for now, citing US violations

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<v Speaker 1>for a short lived interim peace agreement, and is instead

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<v Speaker 1>exchanging messages through intermediaries. Iran has cautioned that any agreement

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<v Speaker 1>won't result in its immediate opening unless the US meets

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<v Speaker 1>certain conditions that includes lifting a naval blockade and removing sanctions.

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<v Speaker 1>Here's Mark Esper, former Defense secretary during the first Trump administration,

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<v Speaker 1>speaking on ABC's This Week.

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<v Speaker 2>While that agreement sits on a precipice, they have put

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<v Speaker 2>forward demands of the United States which frankly are ridiculous

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<v Speaker 2>and should be rejected out of hand. Demands such as

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<v Speaker 2>the withdrawal of all US forces from the region, reimbursement

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<v Speaker 2>for the costs of the war.

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<v Speaker 1>That's Mark Gsper, former Defense secretary, speaking on ABC's This Week.

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<v Speaker 1>President Trump said that he's prepared to allow economic pressure

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<v Speaker 1>on Iran to mount rather than ordering a new military offensive.

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<v Speaker 1>Trump tells Axiosa that the US is quote low keying

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<v Speaker 1>it and quote semi negotiating with Iran, which he described

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<v Speaker 1>as being in quote very bad shape economically. Meantime, Iran

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<v Speaker 1>promoted a hardline ex commander as its top security official,

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<v Speaker 1>shaking up its highest decision making body on national defense.

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<v Speaker 1>According to the state run Islamic Republic News agency, moss

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<v Speaker 1>In Razaii was appointed the new leader of the Supreme

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<v Speaker 1>National Security Council. Razai, a former commander of the Islamic

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<v Speaker 1>Revolutionary Guard Corps, has been a key figure in iran

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<v Speaker 1>security apparatus for years and previously advocated for advancing Iran's

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<v Speaker 1>nuclear program. Meantime, Steve Feinberg, the Deputy Secretary of Defense,

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<v Speaker 1>has asked major US defense companies to step up production

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<v Speaker 1>and deliver key weapons systems. The request was made in

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<v Speaker 1>a letter seen by Bloomberg to defense companies including Boeing, Lockheed,

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<v Speaker 1>martin In, RTX Corps, amid concerns over weapons shortages due

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<v Speaker 1>to the ongoing war in Iran. Beca Wasser covers Defense

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<v Speaker 1>for Bloomberg Economics.

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<v Speaker 3>Obviously, there's been so much focus on munitions consumed in

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<v Speaker 3>the Iran war, but he really focused on some of

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<v Speaker 3>those next generational weapons, trying to speed production so that

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<v Speaker 3>it becomes ingrained within those production cycles for those to

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<v Speaker 3>be delivered faster. The problem is he's looking at some

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<v Speaker 3>of the most complex weapons, including things that are needed

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<v Speaker 3>for air defense systems that could be part of Trump's

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<v Speaker 3>Golden Dome project, which is intended to protect all of

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<v Speaker 3>America from all out aerial attack, which is a pretty

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<v Speaker 3>big ask.

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<v Speaker 1>That's Becha Wasser on Bloomberg. This weekend, the Pentagon asked

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<v Speaker 1>companies to submit their plans by late August. Is really

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<v Speaker 1>Prime Minister Benjamin Natanya who rejected a proposal by US

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<v Speaker 1>backed mediators for disarming Hamas. Netanya who said the IDEF

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<v Speaker 1>will not carry out any withdrawal until Hamas is genuinely

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<v Speaker 1>disarmed and it will continue to thwart threats against Israeli

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<v Speaker 1>forces and citizens. Back in the States, more Republican senators

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<v Speaker 1>are calling from battled Representative Max Miller to step down

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<v Speaker 1>or allegations he physically abused his former wife and two

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<v Speaker 1>year old daughter. Here's Jim Banks, Indiana Republican Senator, speaking

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<v Speaker 1>on NBC's Meet the Press.

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<v Speaker 4>It's heartbreaking to see all of this play out publicly.

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<v Speaker 4>The allegations against him are terrible, and if he's endangering

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<v Speaker 4>a seat in Congress, as we're trying to keep the

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<v Speaker 4>majority in the House, and he should drop out. If

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<v Speaker 4>he's endangering that seat, he should drop out because of

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<v Speaker 4>the allegations against him.

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<v Speaker 1>That Senator Jim Banks on NBC's Meet the Press. Miller

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<v Speaker 1>has denied the allegations and said he won't step down.

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<v Speaker 1>He remains on the ballot for the November general election.

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<v Speaker 1>Democrats are set to raise big money for the upcoming

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<v Speaker 1>midterms during the August recess, even while bashing big money

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<v Speaker 1>corporate cash. Bloomberg's Amy Morris reports from Washington.

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<v Speaker 5>This election cycle is bringing on mounting political pressure for corporations.

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<v Speaker 5>More candidates bashing corporate packs on the campaign trail, especially

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<v Speaker 5>on the Democratic side, where it is a signature cause

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<v Speaker 5>in high profile primaries, and that will likely continue into November,

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<v Speaker 5>setting up debates over tax, healthcare, and money in politics debates.

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<v Speaker 5>The political ad tracking firm ad Impact finds mentions of

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<v Speaker 5>corporate packs have nearly doubled in broadcast campaign ads this cycle.

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<v Speaker 5>In Washington, Amy Moore as Bloomberg Radio.

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<v Speaker 1>Taylor Farms is pulling prepared food items containing jalapenos, such

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<v Speaker 1>as salsa and guacamole, from retailers due to concerns over salmonella.

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<v Speaker 1>The move comes weeks after federal health officials tied the

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<v Speaker 1>produce company to a separate outbreak of cyclospora. The recall

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<v Speaker 1>effects products distributed to more than two dozen states and

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<v Speaker 1>was issued after an earlier recall by Coast Citrus Distributors.

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<v Speaker 1>Taylor Farm said it is unaware of any reported illnesses

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<v Speaker 1>linked to the voluntary recalled items. This week, Wall Street's

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<v Speaker 1>focus is on inflation. Here's Bloomberg's Andrew O'Day.

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<v Speaker 6>Bloomberg Economics predicts we could get a rating of flats

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<v Speaker 6>for months to month inflation from Wednesday's consumer price index

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<v Speaker 6>and an increase of three point three percent year to year.

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<v Speaker 6>The so called core inflation rate, which factors out seasonal

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<v Speaker 6>food and energy fluctuations, could come in at the smallest

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<v Speaker 6>since twenty twenty one, and if so, could spur upward

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<v Speaker 6>ball straight action on the belief that immediate pressure is

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<v Speaker 6>off the FED to hike indurist raids and here rode

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<v Speaker 6>Bloomberg Radio.

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<v Speaker 1>Don Nelson, the second winningest coach in NBA history, has died.

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<v Speaker 1>His family confirmed the death in a statement. Nelson won

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<v Speaker 1>five championships as a player with the Boston Celtics, and

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<v Speaker 1>he was a three time Coach of the Year. He's

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<v Speaker 1>one of just two coaches in NBA history to have

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<v Speaker 1>at least two hundred and fifty wins with three different franchises.

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<v Speaker 1>Nelson was eighty six and that's news when he won

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<v Speaker 1>it with Bloomberg News. Now I'm Dan Schwartzman, and this

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<v Speaker 1>is Bloomberg