WEBVTT - Iran Barrage Sweeps Mideast; House Rejects War Powers Bid

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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, the war with Iran is now into a seventh

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<v Speaker 3>day and there is little sign of let up on

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<v Speaker 3>either side. This morning, Iran's Mayor News service reports Tehran

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<v Speaker 3>has fired a massive barrage of missiles at Israel. That

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<v Speaker 3>says Israel hits Tehran and be root with air strikes.

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<v Speaker 3>President Trump says the US continues to totally demolish Iran's forces,

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<v Speaker 3>so they have.

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<v Speaker 4>No air force, they have no air defense.

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<v Speaker 5>All of their airplanes are goun, their communications are gun missiles.

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<v Speaker 5>A gun launches a gun about sixty percent and sixty

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<v Speaker 5>four percent, respectively.

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<v Speaker 6>Other than that, they're doing quite well.

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<v Speaker 3>President Trump spoke at the White House. We get more

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<v Speaker 3>from Bloomberg's Patrick Sykes in Istanbul.

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<v Speaker 7>Yeah, reports are particularly as particularly heavy strikes in Tehran

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<v Speaker 7>overnight in early this morning. We've also had more attacks

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<v Speaker 7>touching Israel, Saudi katan Qa as well as northern Iraq.

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<v Speaker 7>That's one to watch in particular because of the Kurdish

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<v Speaker 7>dynamic there. Iran. The regime in Tehran very concerned that

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<v Speaker 7>they could see Kurdish militants trying to take control and

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<v Speaker 7>attack positions in that part of the region.

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<v Speaker 3>Bloomberg's Patrick Sykes reports Iran is warning it plans to

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<v Speaker 3>use newer long range missiles in the coming days. That's

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<v Speaker 3>according to a report from the country's semi official Fars

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<v Speaker 3>news agency. The war has left more than thirteen hundred

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<v Speaker 3>people dead in Iran and dozens more in other parts

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<v Speaker 3>of the Middle East. The Pentagon says six US troops

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<v Speaker 3>have been killed, all in the first two days of fighting.

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<v Speaker 8>Nathan.

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<v Speaker 2>President Trump says he wants to have a hand in

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<v Speaker 2>who the next leader of Iran will be. Bloomberg Middle

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<v Speaker 2>East correspondent Jumana Burssetti has more on the search to

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<v Speaker 2>replace Supreme Leader Ayatola Ali Hamini.

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<v Speaker 9>The main one that people are talking about is Hamene's son, Mushtabakhmene,

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<v Speaker 9>who is quite little cut from the same cloth, hardliner,

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<v Speaker 9>very close to his father's ideology, very close to the

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<v Speaker 9>clerics and to the Revolutionary Guard. The President Trump saying

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<v Speaker 9>Kamani's son is unacceptable to me. We want someone that

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<v Speaker 9>will bring in harmony and peace to Iran. Other names

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<v Speaker 9>that are being put up. Ali Arafi, you may have

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<v Speaker 9>heard his name because he's one of the three people

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<v Speaker 9>on the Transitional Leadership Council or another name that's being

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<v Speaker 9>put up, as well as the grandson of the original

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<v Speaker 9>Supreme Leader Romani. All of these names are considered to

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<v Speaker 9>be very close to the Revolutionary Guard, still adopting the

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<v Speaker 9>very hardline theology and ideological positions of the former Supreme Leader.

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<v Speaker 2>Bloombergs Demna Bresacchi notes that Around's Assembly of Experts is

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<v Speaker 2>responsible for appointing, supervising, and discharging the Supreme Leader. This

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<v Speaker 2>is the second Supreme Leader the Assembly will pick in

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<v Speaker 2>the Islamic Republic's forty seven year history.

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<v Speaker 3>Well, with no end insights to the fighting, Karen, we

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<v Speaker 3>are seeing oil on the rise once again in Bloomberg's

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<v Speaker 3>John Tucker's watching the markets for us.

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<v Speaker 6>John, good morning and Nathan, good morning.

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<v Speaker 10>The Joint Maritime Information Center announced early this morning the

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<v Speaker 10>Strait of Hormones shipping traffic near total halt. And now

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<v Speaker 10>this headline cutter is now warning it will not resume

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<v Speaker 10>production until fighting stops. Oil headed for the biggest weekly

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<v Speaker 10>surge since twenty twenty two. A brand the international benchmark

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<v Speaker 10>currently training above eighty seven dollars a barrel, and for

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<v Speaker 10>some contexts, last year, about twenty million barrels of oil

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<v Speaker 10>and petroleum products flow through the Strait of Hormones every day.

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<v Speaker 10>Richmond Fed President Thomas Barkett is telling Bloomberg, it's the

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<v Speaker 10>price at the pump matters a lot in terms of

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<v Speaker 10>sentiment in the US and crowding out other spending.

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<v Speaker 11>And so I'm just watching prices at the pump. They've

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<v Speaker 11>jumped up over the last week. You can see that

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<v Speaker 11>when you drive around. But of course no one knows

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<v Speaker 11>whether this is going to be short term or long term,

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<v Speaker 11>and so we'll just see where it goes well.

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<v Speaker 10>US gasoline pump prices have now advanced to the highest

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<v Speaker 10>level since September twenty twenty four, to triple a the

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<v Speaker 10>average retail price of regular three point thirty two a

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<v Speaker 10>gallon in New York On John Tucker Bloomberg.

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<v Speaker 2>Radio, Right, John, thank you. The financial and logistical troubles

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<v Speaker 2>the Iran war is causing for the global aviation industry

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<v Speaker 2>are compounding by the day. The number of canceled flights

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<v Speaker 2>to Middle East tubs has surpassed twenty seven thousand Since

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<v Speaker 2>fighting began, thousands of passengers have been stranded in the

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<v Speaker 2>Gulf region.

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<v Speaker 3>On Capitol hillcare in the House has joined the Senate

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<v Speaker 3>in rejecting a bill that would have forced President Trump

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<v Speaker 3>to halt strikes on Iran. A handful of Democrats joined

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<v Speaker 3>most Republicans in voting against the War Powers Resolution two

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<v Speaker 3>nineteen to two twelve. House Speaker Mike Johnson says it

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<v Speaker 3>was the right move.

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<v Speaker 12>Would have been a very dangerous gambit to take the

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<v Speaker 12>Commander in chief's ability away to complete this mission. It

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<v Speaker 12>would have been a very serious misstep by Congress, and

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<v Speaker 12>I'm grateful that that resolution failed.

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<v Speaker 3>Speaker Johnson spoke on Capitol Hill after the vote. Lawmakers

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<v Speaker 3>will have another chance to weigh in on the war soon.

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<v Speaker 3>The White House is preparing ask Congress for billions of

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<v Speaker 3>dollars to continue the fight against Iran.

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<v Speaker 2>Well Nathan. President Trump removed Christy Nome as Homeland Security

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<v Speaker 2>Secretary after months of controversy and announced he would replace

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<v Speaker 2>her with Oklahoma Senator Mark Wayne Mullen. Bloomberg's Amy Morris

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<v Speaker 2>s Hays more from Washington.

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<v Speaker 8>Sources tell Bloomberg President Trump was upset with Nome for

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<v Speaker 8>telling lawmakers. The president signed off on a roughly two

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<v Speaker 8>hundred million dollar advertising campaign. Mullen talked to reporters on

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<v Speaker 8>Capitol Hill about the chain.

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<v Speaker 3>I'm here to enforce the policies that Congress passed, and

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<v Speaker 3>right now I'm part of it. But once I make

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<v Speaker 3>that transition, my focus is to keep the homeland secure.

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<v Speaker 8>Trump says he'll name NOME as a special Envoy for

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<v Speaker 8>the Shield of the Americas. It's a new security initiative,

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<v Speaker 8>he plans to announce on Saturday at a summit with

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<v Speaker 8>Latin American leaders. Noam posted her thanks to the President

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<v Speaker 8>on social media, saying that she's looking forward to her

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<v Speaker 8>new role in Washington. Amy Moore as Bloomberg Radio.

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<v Speaker 2>Amy thank you, and President Trump posted on social media

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<v Speaker 2>that the move would take effect March thirty.

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<v Speaker 3>First, Karen Anthropic could be headed for a legal showdown

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<v Speaker 3>on AI with the US government. The company's vowing to

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<v Speaker 3>legally contest a Pentagon decision to declare it a threat

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<v Speaker 3>to the US supply chain. The move puts the firm's

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<v Speaker 3>contracted risk it provides the Pentagon with classified AI tools.

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<v Speaker 3>This clash came to a head last week when the

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<v Speaker 3>White House said Anthropic would be blacklisted for refusing to

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<v Speaker 3>allow its technology to be used for mass surveillance in

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<v Speaker 3>the US or the development of autonomous weapons.

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<v Speaker 2>Well Nathan, the Trump administration is considering taking a formal

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<v Speaker 2>role in the artificial intelligence industry. US officials have written

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<v Speaker 2>draft regulations that would restrict AI chip shipments to anywhere

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<v Speaker 2>in the world without American approval. Bloomberg Technology host ed

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<v Speaker 2>Ludlow says this would make the US government the gatekeeper

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<v Speaker 2>for who can buy large amounts of chips.

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<v Speaker 4>If it's a small project or small shipment, that would

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<v Speaker 4>face lighter review. If it's a bigger data center project

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<v Speaker 4>at say Giggle what scale that would require the tens

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<v Speaker 4>of thousands or hundreds of thousands of GPUs the day

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<v Speaker 4>centers of that magnitude rely on, then it would not

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<v Speaker 4>just be a thorough review by BIS in the US government.

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<v Speaker 4>But you're talking now about government government talks.

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<v Speaker 2>And bloombergs ed lolosas chip giants. Nvidia at AMD did

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<v Speaker 2>not respond to requests for comment to the story.

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<v Speaker 3>Turning back to the markets, now, Karen, futures are lower

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<v Speaker 3>after yesterday's losses on Wall Street. The S and P

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<v Speaker 3>five hundred was down one and a half percent at

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<v Speaker 3>one point, but it closed lower by a half percent.

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<v Speaker 3>This morning, Wall Street awaits the latest monthly jobs report,

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<v Speaker 3>and we get a preview from Bloomberg's Charlie Pellett.

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<v Speaker 6>The government's employment report is expected to show that hiring

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<v Speaker 6>moderated last month after an unexpectedly strong reading in January.

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<v Speaker 6>Economists surveyed by Bloomberg see the US economy adding fifty

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<v Speaker 6>five thousand new jobs, with the unemployment rate holding at

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<v Speaker 6>four point three percent. Kathy bus Jensik is chief economist

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<v Speaker 6>at Nationwide Mutual.

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<v Speaker 2>When you look at the trend, I think the labor

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<v Speaker 2>market has been pretty resilient here.

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<v Speaker 5>It's not buoyant, but resilient.

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<v Speaker 6>Some economists have warned that severe winter weather could dent

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<v Speaker 6>the headline payrolls number in New York. Charlie palettes Bloomberg Radio.

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<v Speaker 3>And another program Note, Karen, as we've just seen this

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<v Speaker 3>past weekend, markets may close this afternoon, but the world

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<v Speaker 3>will not. And that is why we are bringing you

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<v Speaker 3>a new live radio and TV show, Bloomberg this weekend.

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<v Speaker 3>It looks beyond the headlines of the day to the

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<v Speaker 3>bigger themes driving politics, business, and culture. We invite you

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<v Speaker 3>to join David Gera, Christina Raffini, and Lisa Matteo to

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<v Speaker 3>get smart conversations and in depth interviews that help make

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<v Speaker 3>sense of the week that's been and what comes next.

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<v Speaker 3>Get Bloomberg This Weekend Live Saturdays and Sundays from seven

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<v Speaker 3>am Eastern on Bloomberg Radio, Bloomberg Television, and the Bloomberg

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<v Speaker 3>Business App.

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<v Speaker 8>Time now for.

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<v Speaker 2>Look at some of the other stories making news in

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<v Speaker 2>New York and around the world, and for that we're

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<v Speaker 2>joined by Bloombergy's Michael Barr Michael Good Morning.

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<v Speaker 5>Good Morning Karen. New York Governor Kathy Oakel says although

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<v Speaker 5>the state was not facing any credible threats because of

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<v Speaker 5>the unrest in the Middle East, the state cybersecurity and

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<v Speaker 5>counter terrorism experts are monitoring the situation. Hokeel said the

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<v Speaker 5>state remains on high alert as the conflict between the US, Israel,

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<v Speaker 5>and Ron War stretches into a seventh day.

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<v Speaker 13>And it's a city that is home to over a

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<v Speaker 13>million Muslims, a state of million Muslims, but also a

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<v Speaker 13>million Jews as well. We are exposed. We are exposed

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<v Speaker 13>to this as we have been in the past. So

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<v Speaker 13>we take it very sissy. We're working hand in hand

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<v Speaker 13>with NYPD.

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<v Speaker 5>Governor Hockel says she has been getting hourly updates on

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<v Speaker 5>the situation. Groups representing US airlines and the travel industry

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<v Speaker 5>are calling on Congress to reopen the Department of Homeland

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<v Speaker 5>Security so that airport screeners can get paid. At a

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<v Speaker 5>pay Federal Aviation Workers news conference in Washington, DC, President

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<v Speaker 5>and CEO of the US Travel Association, Jeff Freeman says

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<v Speaker 5>it's reckless not to pay these critical workers.

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<v Speaker 13>You can't run an industry with three trillion dollars in

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<v Speaker 13>economic impact on IOUs.

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<v Speaker 5>The funding lap stems from disagreements over immigration enforcement after

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<v Speaker 5>federal ice agents killed two Americans in Minneapolis, with the

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<v Speaker 5>Democrats demanding reforms. Three former presidents will be among those

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<v Speaker 5>attending the funeral service in Chicago today for the Reverend

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<v Speaker 5>Jesse Jackson. Former Presidents Bill Clinton, Barack Obama, and Joe

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<v Speaker 5>Biden will say a final goodbye to Jackson at what's

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<v Speaker 5>being called the People's Celebration at the House of Hope

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<v Speaker 5>Baptist Church. Private service will be held Saturday at Rainbow

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<v Speaker 5>Push Coalition headquarters for Jackson, who died at age eighty

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<v Speaker 5>four Global news twenty four hours a day and whenever

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<v Speaker 5>you want it with Bloomberg News Now. I'm Michael Barr.

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<v Speaker 5>This Isloomberg. Karen.

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<v Speaker 2>Thanks Michael. Time now for our Bloomberg Sports update, and

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<v Speaker 2>for that we bring in Dan Schwartzman.

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<v Speaker 6>Thanks Karen.

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<v Speaker 14>The NHL trade deadline is this afternoon at three pm

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<v Speaker 14>Eastern Time. Moves being made already this morning, as the

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<v Speaker 14>Capitalist have shipped longtime defenseman John Carlson to the Ducks

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<v Speaker 14>for a conditional first round pick and a third rounder.

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<v Speaker 14>Houston Texans and five time Pro Bowl defensive end Daniel

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<v Speaker 14>Hunter agreeing to a one year, forty million dollar contract extension.

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<v Speaker 14>Hunter was named a second team All Pro last season

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<v Speaker 14>after registering fifteen sacks, Lebron James making more history and

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<v Speaker 14>the Lakers loss to the Nuggets, passing cream Abdul Jabbar

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<v Speaker 14>for most field goals made an NBA history with fifteen,

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<v Speaker 14>eight hundred and thirty eight. Meanwhile, Celtics star Jason Tatum

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<v Speaker 14>expected to play tonight as Boston host to Mavericks. Tatum

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<v Speaker 14>has been out less than ten months after tearing his

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<v Speaker 14>right achilles tendon in the playoffs last season against the Knicks.

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<v Speaker 14>That's your Bloomberg Sports update.

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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 bloom Burg Radio nationwide on Serious

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<v Speaker 1>Exam and around the world on Bloomberg dot Com and

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<v Speaker 1>the Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 3>Good morning, I'm Nathan Hager, coming to the end of

0:12:10.960 --> 0:12:13.320
<v Speaker 3>the first week of the war where they're ran, but

0:12:13.400 --> 0:12:16.839
<v Speaker 3>there is little and insight to the war itself. Joining

0:12:16.920 --> 0:12:19.360
<v Speaker 3>us this morning from Mistan. Bold is Bloomberg News Middle

0:12:19.400 --> 0:12:23.200
<v Speaker 3>East Breaking News Editor Patrick Sikes. Patrick, what is the latest?

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<v Speaker 5>Good morning?

0:12:24.240 --> 0:12:24.360
<v Speaker 2>Hi.

0:12:24.440 --> 0:12:26.320
<v Speaker 15>They have no sign of let up, as you say,

0:12:26.679 --> 0:12:30.320
<v Speaker 15>the Ranians over night saying they've got no intention to

0:12:30.360 --> 0:12:33.360
<v Speaker 15>negotiate and they haven't asked for a ceasefire, denying some

0:12:33.400 --> 0:12:36.120
<v Speaker 15>of the reports we've had over the past few days

0:12:36.160 --> 0:12:40.360
<v Speaker 15>to that effect. And strikes are still happening today in Israel,

0:12:40.520 --> 0:12:44.360
<v Speaker 15>in Saudi kata Q eight, Northern Iraq as well. The

0:12:44.480 --> 0:12:47.720
<v Speaker 15>latter I think an important one to watch because of

0:12:47.480 --> 0:12:50.760
<v Speaker 15>the reports over the past few days about potential US

0:12:50.920 --> 0:12:55.640
<v Speaker 15>Kurdish coordination to weaken the regime in Iran.

0:12:55.960 --> 0:12:59.760
<v Speaker 3>And the headline I saw from Qatar as well, that

0:12:59.880 --> 0:13:04.120
<v Speaker 3>is might be shutting down oil production completely until the

0:13:04.160 --> 0:13:06.200
<v Speaker 3>fighting stops. What's the latest on that.

0:13:06.679 --> 0:13:09.960
<v Speaker 15>Yeah, oil and particularly gas and leg will be important

0:13:09.960 --> 0:13:12.680
<v Speaker 15>for Qatar, one of the biggest producers in the world,

0:13:13.000 --> 0:13:15.440
<v Speaker 15>and currently all of that is stuck on the wrong

0:13:15.520 --> 0:13:18.440
<v Speaker 15>side of the Straight of Hormos. I think that that's

0:13:18.480 --> 0:13:21.360
<v Speaker 15>book the market. We saw oil react to that because

0:13:21.360 --> 0:13:25.800
<v Speaker 15>it just underlines the potential for this to continue for weeks.

0:13:25.800 --> 0:13:28.280
<v Speaker 15>I think he said something too effective. If it's four

0:13:28.360 --> 0:13:30.600
<v Speaker 15>or five weeks kind of timeline, then we could see

0:13:30.640 --> 0:13:33.840
<v Speaker 15>oil going to one hundred and fifty dollars a barrel.

0:13:33.880 --> 0:13:37.480
<v Speaker 15>That's almost double where we are now. So again the

0:13:37.559 --> 0:13:41.199
<v Speaker 15>market is super hounded on the duration of the conflict. Well,

0:13:41.240 --> 0:13:42.160
<v Speaker 15>I gauge the risk.

0:13:42.760 --> 0:13:47.080
<v Speaker 3>There is some question about the duration. Given that President

0:13:47.120 --> 0:13:50.520
<v Speaker 3>Trump has said that Iran's air defenses and navy are

0:13:50.559 --> 0:13:53.600
<v Speaker 3>gone and the missile launchers as well have been depleted.

0:13:53.640 --> 0:13:55.600
<v Speaker 3>What could that say about the extent of the damage

0:13:55.640 --> 0:13:57.120
<v Speaker 3>and how much longer this could go on.

0:13:57.640 --> 0:14:00.840
<v Speaker 15>I think our colleagues on the Economiccited have done some

0:14:00.840 --> 0:14:04.160
<v Speaker 15>good analysis about this, and they give the nuance that

0:14:04.160 --> 0:14:08.640
<v Speaker 15>that air dominance air superiority is true. But it's in

0:14:08.880 --> 0:14:12.320
<v Speaker 15>very specific areas, right. It's not the case that the

0:14:12.440 --> 0:14:16.320
<v Speaker 15>US Israel can fly unimpeded without risk over the whole

0:14:16.360 --> 0:14:18.680
<v Speaker 15>of the territory of Iran. If you look at the map,

0:14:18.720 --> 0:14:21.840
<v Speaker 15>they've really been focused on the western part near the border,

0:14:21.880 --> 0:14:25.840
<v Speaker 15>that that enemy facing side of Iran. But there's still

0:14:25.880 --> 0:14:27.640
<v Speaker 15>I think in there are a lot of targets to

0:14:28.280 --> 0:14:31.960
<v Speaker 15>go for further inland, and that's why I think there's

0:14:31.960 --> 0:14:34.160
<v Speaker 15>still plenty of scope for it to continue.

0:14:34.520 --> 0:14:36.840
<v Speaker 3>Just thirty seconds left, Patrick, But what's the air travel

0:14:36.880 --> 0:14:38.080
<v Speaker 3>situation like right now?

0:14:39.760 --> 0:14:46.320
<v Speaker 15>Fundamentally it's still extremely disruptive. We've seen some companies and

0:14:46.520 --> 0:14:51.200
<v Speaker 15>individual corporate companies as well arranging emergency flights out, but

0:14:51.360 --> 0:14:55.800
<v Speaker 15>fundamentally that disruption is still ongoing. Interestingly, with a story

0:14:55.840 --> 0:14:58.640
<v Speaker 15>about people crossing the border from Dubai to get to

0:14:58.680 --> 0:15:02.000
<v Speaker 15>Omar and hiring private with jet turns the flyouts. That

0:15:02.040 --> 0:15:05.960
<v Speaker 15>has been a big spike in private jet travel as well.

0:15:06.160 --> 0:15:09.080
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