Saudi, UAE Could Reportedly Join Iran War; Senate Inches Toward DHS Deal

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin with the latest on the war with Iran,
now into its twenty fifth day. Attacks continue on both sides,
even as President Trump says he's holding off on going
after Iran's energy infrastructure for five days, citing what he
calls really good discussions with Tehran.
They started last night, a little bit the night before that,
and I think they're you know, I think they're very good.
They want to they want peace, They've agreed they will
not have a nuclear weapon, you know, et cetera, et cetera.
The President says US envoys Steve Whitcoff and Jared Kushner
spoke with a top person in Iran on Sunday, but
that it's not the new supreme leader. Most to Bahamini.
Iranian official for their parts, say they are ruling out
discussions with the US. Stuart Livingston Wallace leads Bloomberg's Middle
East coverage.
It's a confused picture and was wig getting scraps of it,
So there does appear to have been some sort of
back channeling going on, and our reporting has shown that
probably includes Egypt, Turkey, Pakistan, sada Abroman and I'm sure
that's not a complete list when you think of the
number of countries that have been impacted by this war,
not just directly in terms of attacks from Iran, but
also you know, in terms of the economic impact much
further afield, and I'm thinking particularly of East Asia.
Bloomberg Stewart Livingston Wallace reports President Trump decided to back
office threats after allies privately warned him that the war
was becoming a disaster. Sources tell Bloomberg News that regional
partners told the US permanent damage to Iran's infrastructure would
lead to a failed state.
But Nathan, there are signs of conflict may already be escalating.
The Wall Street Journal is reporting that Saudi Arabia and
the United Arab Emirates are taking steps toward joining the
war versus. Saudi Arabia has agreed to give the US
access to King Fod Airbase, and the UAE has closed
a hospital and a club owned by Iran. All this
is a tax to continue this morning, as we hear
from Bloomberg, middle A Score responded Jumana Bursecchi.
There'll still being joint US Israeli military strikes throughout Iran. Overnight.
Some reported strikes near nuclear facilities have taken place, so
we understand that limited damage was caused there and in retaliation,
Iran continues to strike back and once again sending projectiles
towards Saudi Arabia that were intercepted over Kuwait over Baherin.
We understand an AW West center was also targeted in Baharan,
more interceptions over the UAE as well, and missile strikes
being targeted towards Tel Aviv.
And as Bloomberg Jumana Bursecchi reporting from Dubai.
Well Karen, there were huge bets in the markets before
President Trump's public announcement on war negotiations that helped send
crudal prices tumbling fourteen percent. Contracts are representing millions of
barrels changed hands about fifteen minutes before the president's social
media post. That's according to exchange data compiled by Bloomberg.
There was a similar increase in activity in US stock
futures on the SMP five hundred prior to the president's post.
Well CHECKI Marcus this morning. Right now, Nathan crude oil
is rising. Nim X crude oil is up almost three
percent at ninety dollars sixty nine cents a barrel, Brent
is up one point seven percent at one hundred and
one dollars sixty six cents, and SMP futures are lower,
down a tenth of uve percent. Yesterday, all three major
indexes gained at least one point two percent after President
Trump ordered the Pentagon to hold off on military strikes
against Iranian energy infrastructure. Brent Shooty is chief investment officer
at Northwestern Mutual.
From the near term, it's still a wait and see.
I don't think we've resolved all the different possible outcomes,
and so I think this week is going to be
interesting as we progress, and certainly headlines will drive the
market over the next few weeks. Longer term, though, you
want to look through this and you want to stay invested, obviously,
and you want to stay diversified, and.
That's Northwestern Mutuals Brent Shooty. The S and P five
hundred had its biggest one day gain since February sixth.
Karen, let's get to the latest now. In the deadly
plane crash at New York Slaguardia Airport. The cockpit voice
recorder and flight data recorder have been recovered. Investigators are
decoding the black boxes from that Air Canada Express jet
that collided with a fire truck just after landing. The
captain and the co pilot died. Forty three people were hurt.
Jennifer Homan Dy is chair of the National Transportation Safety Board.
The port authority and the emergency responders cut a hole
on the roof of the aircraft, dropped down and was
able to get the CVR and FDR for US, which
then one of our investigators drove back to our labs
in Washington, DC today where they've been able to at
least verify that the cockpit voice recorder was not damn.
And tsp's Jennifer Homandy says this was the first deadly
accident at LaGuardia in more than thirty years.
Meanwhile, Nathan Senators and both parties are expressing rising optimism
about reaching an agreement to eny five week partial shutdown
to the Department of Homeland Security. The shutdown has led
to lengthy delays and major US airports and unpaid employees
of the Transportation Security Administration calling in sick after Republicans
met at the White House with President Trump on Monday.
Senator Mike Rounds of South Dakota tells Bloomberg Balance of
Power that the Senate is working on a deal.
We'll continue to work on it. Hopefully we will find
a breakthrough somewhere along the line, and we'll be able
to not only open up all of the operations of government,
including those that protect us against terrorst threats, and get
our airports open and operational and get those guys paid.
That's really important to the vast majority of us. And
I recognize that the President is lobbying hard to get
everything done. Respect him for it. Bottom line is, we're
going to get as much done as we possibly can
get done.
And Senator Mike Grounds of South Dakota on Bloomberg's Balance
of Power, Senate Minority Leader Chunk Schumer told reporters that quote,
both sides are working in a serious way. The Senate
has been at odds over two Democratic demands that DHS
agents obtain warrants from judges before entering homes and that
federal agents stop wearing masks.
Man with the DHS still shut down, Karen Mark, Wayne
Mullen has been confirmed to be its next secretary.
On this vote, the eyes are fifty four, the Naser
forty five.
The nomination of Mark Wayne Mullen of Oklahoma to be
Secretary of Homeland Security is confirmed.
It was the Senate vote mostly long party lines, confirming
the first term Republican senator and former mixed martial arts
fighter who's been a staunch defender of President Trump's deportation program.
Federal funding, as we said, has been shut down for
the DHS since mid February due to disagreements over immigration
enforcement tactics and demands for restrictions. Mark Wayne Mullen places
Christinam as DHS Secretary, well.
Over sees Nathan. The European Union and Australia have agreed
to a free trade deal after almost a decade of negotiations.
Both parties are working to shield their economies from US
tariffs and China's restrictions on critical minerals. Here's European Commission
President Ursula Vonderlion.
Today, we are telling an important story to a world
that is deeply changing, a world where great powers are
using tariffs as a leverage and supply chains as vulnerabilities
to be exploited in our story Open WOS based trade
delivers positive sum outcomes. Trust matters more than transactions.
European Commission President Ursula Vonderlion says the agreement will now
need to be signed off by EU countries and approved
by both parliaments.
Hey, Karen, Well, the markets may close on Fridays, the
world does not. That is why we are bringing you
a new live radio and tiar t show, Bloomberg This Weekend,
looks beyond the daily headlines to the bigger themes striving politics,
business and culture. So joined David Gera, Christina Raffini, and
Lisa Matteo for smart conversations and in depth interviews that
help make sense of the week that's been and what
comes next. You get Bloomberg This Weekend live every weekend,
Saturdays and Sundays from seven am Eastern on Bloomberg Radio,
Bloomberg Television, and the Bloomberg Business App.
Time now for a look at some of the other
stories making news in New York and around the world.
And for that we're joined by Bloomberg's John Tucker. John
Good Morning, Good Morning, Careen.
The Supreme Court signaled a divide over Republican calls to
require mail in ballots to arrhyme by election day. Let's
get the story this morning from Bloomberg's Matt pinker Key.
Justice's voice concern about the impact of the case might
have on the practice of early voting. Chief Justice John
Roberts suggests that he was not convinced by Trump administration
contentions that later arriving ballads could be outlawed without also
undermining early voting. Hearing that lasted more than two hours Monday,
the court grappled with a Mississippi law that allows mail
in ballots to be counted as long as they arrive
within five business days of election day. Dozens of states
allow at least some ballots to be counted after election day.
I'm Matt Piper Bloomberg Radio.
The Trump administration has initiated two new investigations into Harvard University.
It comes over alleged anti semitism on campus and racially
discriminatory admissions practices. Two people on board a small helicopter
were killed when it crashed into a warehouse in Boyden Beach, Florida, Monday,
by a rescue battalion. Chief Max Accidine says it happened
just after noon upon arrival.
We did find one small helicopter inside one of the
buildings that crashed through the roof. There are no survivors.
The FAA and NTSP or investigating. The Federal Communications Commission
has ordered a ban on the import of new models
of foreign produced consumer wireless routers. The move comes after
an inter agency panel determined the threatened national security. The
move could dramatically shake up the market for routers, which
are primarily made overseas. Global news twenty four hours a
day and whenever you want it with Bloomberg News. Now.
I'm John Tucker, and this is Bloomberg.
Karen nys Sean time now for our Bloomberg Sports Update,
and for that we bring in John stash Hour.
Thanks Karen. Making twelves great wins for the Oklahoma City Thunder,
the defending NBA champions who have the best record this year.
It easy win in Philadelphia. S and Antonio got thirty
six from Victor Webban Yama in a twenty five point
rout of Miami. The Lakers nine game win streak came
to an end, lost by three in Detroit. Three top
seeds advancing of the Sweet sixteen and the NCAA women's tournament,
including Yukon, who's undefeated. South Carolina won its game by
forty also advancing UCLA. That's your Bloomberg Sports update.
Stay with us.
More from Bloomberg day Break coming up after this.
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This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager on day twenty five of the US
Israeli war where they ron. Fighting continues across the Middle East,
even as President Trump says talks are underway to try
to end the conflict.
We were planning tomorrow on shooting down some of their
power plants, and we're not going to be going to
hold that up. Hopefully we won't.
Have to do it.
I was the President at a roundtable discussion yesterday in Memphis.
This morning, we're joined from Dubai by Bloomberg Middle East
correspondent Jumana Bursecci, the anchor of Bloomberg Horizons. Jumana, good morning,
Thanks again for being with us. What is the latest
in terms of the fighting, Well, if I had.
To summarize the last twenty four hours, I would say
there has been an attempt to de escalate or at
least to reopen the diplomatic channels, but the war is
still very much ongoing, and what we've seen overnight is
continual joint U US Israeli military strikes different parts of Iran,
Iran retaliating against Gulf States, against Tel Aviv, incoming missiles
intercepted and also one of them actually managing to sustain
a significant amount of damage on one of the streets
of Tel Aviv. Sirens going off in Behinan, Kuwait city
also and more interceptions being reported in Saudi Arabia. So yes,
there's been an attempt to revive the sort of indirect
negotiations between US and Iran, but the war still goes on.
Well, what do't we know, Jumana about these indirect discussions.
A president seems to be indicating that they've been direct,
but we've been hearing from Iranian officials that there haven't
been any discussions either way going on.
Correct. So we've heard from some official more official voices
in Iran, including the Speaker of the House and the
Deputy Speaker of the House, and both of them has
said that there have been no direct negotiations taking place.
But later in the evening we understood that several indirect
mediation attempts have been going on, and this really being
put forward by the nations in the region that have
not been targeted by Iran, And here I'm talking about Egypt,
about Turkey to a certain extent, Oman which is traditionally
played a mediator role, and even Pakistan looking also to
get involved in potential mediation talks. We understand that the
Iranian foreign minister has had talks with several of his
foreign minister counterparts, but again unclear at this stage what
the substance of those negotiations entail, and whether or not
there's going to be some in person meeting later in
the week, as has been suggested by other outlets.
Now, what more are we hearing about why the president
had backed off this threat that we know about from
last weekend, this forty eight hour ultimatum to go after
Iran's power plans.
So our colleagues on Bloomberg News side wrote a very
interesting article overnight talking about the influence and the pressure
that Gulf ally is put on President Trump to backtrack
away from those threats to strike airring and infrastructure particularly
the power plants because of fears of reprisal. Number one
about what that could mean for power plants, infrastructure, water
desalination plants in the region, but also number two, the
real risk that this could spiral into something short of
a disaster. This is the quotes from the article, because
their thinking is, if you continue to wipe out civilian
infrastructure in Iran, what are the people of Iran going
to be left with. If you are talking about ultimately
regime change or uprising on the people, you have to
give them a chance to be able to live and
to survive. And if you continue to target civilian infrastructure,
then you're removing that possibility. The last thing that anyone
in the region wants is chaos on their doorsteps. So
it looks as though many of these golf states actually
did manage to restrain President Trump from going down that path.
Hence the five day window bit. Again, a lot can
change in the next couple of days.
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