US Reinstates Blockade of Hormuz; Graham's Sister Appointed to Senate

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 developments in the Middle East.
The US Central Command says it's completed the latest wave
of strikes on military targets across Iran in a five
hour mission. President Trump spoke to reporters at the White
House yesterday.
Well, I think it's going very fast. We've demolished their military.
We're hitting him very hard. And we had a deal
yesterday or the day before yesterday. It was all done,
and then they broke up that deal immediately because they
found out there was something in the deal that didn't
like and they're wired differently, and we're not going to
put up with it.
It was President Trump at the White House.
Iran semi official Tosdam News Agency reports Islamic Revolutionary Guard
Core targeted radar systems of the US Navy's fifth Fleet
in Bahrain with missiles and drones.
Well, Nathan, President Trump is reinstating the US blockade of
a Rainian ships transitting the.
Strait of Horror moves.
He's also demanding a twenty percent reimbursement for all other
cargoes shipped through the waterway. We get more from Bloomberg
News director Wilt Kennedy.
It is an important tourn of events.
Clearly, a twenty percent levee on the cost of cargoes
leaving the Straight of Horme moves will be a very
serious change in the expense involved in shipping oil out
of hor Moos.
You're talking about fifteen dollars a bottle.
It's a lot, and it's a lot lot more than
in Van was proposing when it was saying that it
wanted to charge people.
So it really is a dramatic twist.
And I think whether or not this ever comes to pass,
we will see. But the important thing for global markets
is we're in a very different situation with hor moves
than we were a few days ago, and not.
In a good way.
And Bloomberg's well.
Kennedy says, US military forces or resume blockading traffic to
and from Iranian ports and coastal areas beginning today at
four pm New York time. And this morning, the United
Arab Emirates says two of its oil tankers are hit
by Iran while crossing the Straight of horm moves. It
all has oil on the rise once again, checking nimex screwed.
Oil again is at eighty one dollars twenty cents a barrel,
up almost four percent. Brent is up almost five percent
at eighty seven dollars thirty six cents.
Now to domestic politics, Karen.
South Carolina Governor Henry McMaster has made his choice to
fill out the rest of the late Senator Lindsay Graham's term.
It's Graham's sister, Darlene Graham nordone.
I want to thank the governor for selecting me to
serve the remainder of Lindsay's term.
It is such an honor.
Lindsay has always been there for me, and now I
will be.
There for him.
Darlene Graham nor Done spoke at a brief event in Columbia.
South Carolina Senate majority leader John Thune says she will
be sworn in this afternoon. In Washington, Governor McMaster says
the special election to replace Graham on the November ballot
will be held in four weeks on August eleventh.
And Nathan the White House says President Trump will support
one of Senator Graham's last major legislative efforts before he
died a new sanctions bill on Russia. Graham first proposed
what he called bone crushing sanctions in April of last year.
That bill would have imposed so called the secondary tariffs
as high as five hundred percent on countries that bought
Russian oil or natural gas. It's unclear whether this bill
would go that far, but Senate Leader Thune says passing
it would be a great tribute and legacy for Lindsey Graham.
Well not Kary.
We went updates you on a developing story in Maine
where a US immigration officer shot and killed a person
yesterday morning in Biddeford.
That's a small town just outside Portland.
The Department of Homeland Security says it was conducting surveillance
on a residence where someone had received a deportation order.
The agency says a suspected unauthorized person tried to flee
in a car and an ICE agent open fire, fearing
for public safety. Earlier, and official said that officer fired
after the person tried to run them over, but didn't
give more details. Maine Senator Angus King says he still
has a lot of questions, and.
The question is what did he do with his vehicle?
War officers threatened, where the threats rising to the level
that justified deadly force?
Senator King says Homeland Security Secretary Mark Wayne Mullen has
told him the person who was killed was not the
intended target of the operation. This is the second deadly
shooting involving federal agents in less than a week.
Another news this morning, Nathan, A dozen states have sued
Paramount's Guide and seeking to block it's one hundred and
ten billion dollar bid by Warner Brothers Discovery. The anti
trust lawsuit alleges the deal with harm competition for film
distribution and the licensing of cable TV channels. The gut
reaction from FCC Chairman Brendan Carr.
It's hard to see a real legitimate antitrust action, But
of course, you know, I leave it to the anti
trust experts to weigh in on this. I did think
it was interesting that there was a statement at least
attributed to the California Training General that said that they
would not sue if Paramount agreed to spin off CNN.
It's hard to conceive of a competition any trust theory
that takes you all the way up to the point
where owning or not owning CNN as part of that
broader group a legitimate line that anti trust or competition
law would draw.
An FCC Chairman Brendan Carr, speaking with n Ludlow on
Bloomberg Tech. Catch the full conversation on our video hub
on the Bloomberg Business app. In a statement, Paramount said
the lawsuit was wrong on the facts and the law,
and it would vigorously defend the transaction in court.
Well Karin, The voladil trading in sk Heinex continues. The
South Korean memory giant here raised an early plunge to
climb five percent in soul. At one point, sk Heinex
stumbled nine percent, a move that would have pushed its
two day loss beyond twenty percent, before staging that dramatic rebound,
and this morning, shares of sk Heinex traded in the
US or up six and a half percent.
Anything like sk Heinex, Samsung Electronics is in the early
stages of exploring a potential offering of American depository receipts.
Bloomberg News has learned the company has held preliminary discussions
with banks, but has not yet made a decision. About
whether to proceed source as a Samsung will monitor the
volatile memory chip stocks as part of the decision making.
Sam Sung shares have gained about one hundred and twenty
percent this year to raise the company's market value to
over one trillion dollars. Time now for 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
Michael Barr.
Michael, good morning, Good morning Karen.
Get ready for the start of another heat wave in
the Northeast. Bloomberg meteorologist Craig Allen has.
More alerts for the heat are in place once again
for many cities here in the Northeast. You will be
experiencing searing heat from Washington to New York City and
on up to Boston. The thermometer will be up around
the nineties to around one hundred once again, and the
heat wave could begin as early as today from Hartford
to Boston, Potkeepsie down to New York City, Philadelphia, as
well as Baltimore and DC. There is a little difference
though that may help out just a bit as compared
to two weeks ago. I don't think the humidity will
be quite as oppressive, but the heat index will still
top one hundred in many low cap Remember the heat
alert rules and stay hydrated.
Bloomberg Media religis Craig Allen. In New York City, at
least sixty people now have contracted Legionnaire's disease on Manhattan's
Upper east Side. New York mayor zoron Memdani.
If you live, work, or have visited the area since
late June and are experiencing flu like symptoms, whether they
be call fever, difficulty breathing, then we encourage New Yorkers
to contact a healthcare provider.
The source of the disease usually exists on rooftop cooling
towers of large buildings. They are filled with water and
are part of the system used to cool the buildings.
During a virtual town hall last night, health officials said
more than thirty cooling towers that tested positive for Legionella
bacteria have now been cleaned. A judge rule that President
Trump's lawsuit against the IRS was a bad faith attempt
to manipulate the judicial process. US District Judge Kathleen Williams
called into question whether the President, his family members, or
business interests will be able to benefit from the controversial settlement,
which purports to immunize them from audits or other federal
probes related to pass violens. Global news twenty four hours
a day and whenever you want it with Bloomberg News Now.
I'm Michael Barr, and this is Bloomberg Karen.
Thanks Michael.
Time now for our Bloomberg Sports update, and for that
we bring in John Stashauer.
Thanks Canada.
Playing the Baseball All Star Games tonight in Philadelphia. Last
night it was the home run derby and the Phillies
fans were pulling for their own. Kyle Schwarberg was in
the finals against the Cardinals Jordan Walker, and Walker pulled
out the victory by homering in each of his last
six swings. The World Cup semifinals begin this afternoon in Dallas.
It's France against Spain. France so far in the World
Cup is six and zero by a combined sixteen to two,
and Spain has won its games by eleven to one.
That's a Bloomberg Sports update.
Stay with us.
More from Bloomberg Day Break coming up after this.
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Business app.
This is Bloomberg Daybreak, Good morning of Nathan Hager.
Crude oil back on the rise, along with tensions in
the Middle East after the US military carried out a
five hour assault on Iranian targets and President Trump announced
a renewed blockade on Iranian shipping through the Strait of
Horn moves as well as demands for repayment to protect
shipping through the Strait.
I want to be reimbursed because we're protecting a very
rich part portion of the world. We're spending money, and
so what we've done is we are going to be
reimbursed for protection we're protecting by the countries that we're helping.
I was President Trump in the Oval Office joining us
this morning from Dubai as Bloomberg Middle East Breaking News
editor Dana Krash. So, Dana, are we back to square
one following these latest strikes?
Good morning, Good morning.
I would say I would say yes, right, the US
three imposed this blockade on Iranian ports, and we are
back to worlwid we were before the MoU was signed, but
of course not before April eight, which was when they
agreed to the ceasefire, and this is becoming clear, right
this is the battle over hormones now and it's hard
to see who would win this. It's unlikely Iran would
abandon what has become, you know, its new found leverage
in the region wider and now we're seeing the US
trying to undermine what Iran has asserted, which is its
own control, and ships that are going through the Omani route,
which is the southern routes, are being an attacked like
we saw with the UAE oil tankers that were hit
by Iranian missiles two oil tankers that were confirmed to
being hit earlier today. So we are not back to
how it was during the war when there's like an
exchange of heavy exchange of fire and the Gulf countries
were dragged into this. We're still seeing like a tit
for tat skirmishes. But the only positive sign that we
are trying to look for here is whether Iran and
the US would sit again for these technical talks that
US official last week said they would still be on.
But we haven't seen any resumption of these talks.
Well, what are the chances, Dana, of those technical talks
resuming when President Trump, as we just heard is demanding
reimbursement twenty percent for cargo shipping.
And how would that even work? We only have about
a minute left.
Yeah, I think what President Trump is suggesting is hard
to materialize right now. What I mean, how would the
Golf countries react to this?
Right there?
Seeking twenty percent fee on all cargo ship It is
unlikely to be realized, like we said, just as a
move would add to you know, global energy and commodity
costs of course, you know, alienate key regional allies that
we talked about the Golf countries and face you know,
logistical and legal hurdles here, especially when it comes to
international law governing international shipping and waterways. So it's hard
to see this materializing. But this is also him trying
to counter at what you know, the Iranians have and
we're also seeing that run is coming back and said,
you know, our fare would be cheaper. But who is
caught in the middle here is the Gulf Countries, is
the Saudis, the immortis, the Bahrenis, and everybody else of
who would end up or have to pay these fares,
be it from the US or from Iran.
This is Bloomberg day break, Your morning podcast on the
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