Trump Pressures Iran on Blockade; Intel Shares Surge on Earnings

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 ongoing tensions between the US
and Iran, with both sides maintaining blockades over the straight
of horror moves. President Trump has said he will keep
restrictions in place until Iran comes forward with a new
peace proposal. At the White House, Bloomberg's Jeff Mason asked
the President about his timetable.
How long are you willing to wait until you get a.
Don't rush me, Jeff. You know guys like you you
want to say, Oh, so we're in Vietnam, like for
eighteen years. We're in Iraq for many many years. We're
in for all the I don't like to say World
War two because that was a big eat, but we
were four and a half almost five years in World
War Two. We were in the Korean War for seven years.
I've been doing this for six weeks.
President Trump spoke to Bloomberg White House correspondent Jeff Mason
in the Oval Office. We get more from Bloomberg's Jumana
Barcecci in Dubai.
He's suggesting that we are in the early innings of
what could be a prolonged conflict. At the same time,
the Iranian side asserting once again that they're not going
to go back to the negotiations table until the US
in the naval boockade is actually lifted. No signs that
the US have plans to do so, and overnight, I
also want to join your attention to an article that
our Bloomberg colleagues put up, also suggesting that the way
that President Trump has been conducting this, a lot of
the threats and assertions, the language that he's been using
on social media has also not been resonating well with
Iranian officials, and they say that that is actually one
of the limiting factors that is stopping the two sides
from getting together at the negotiating table once again.
Bloomberg's Jumana Barcecci reporting from Dubai. Meantime, President Trump says
Israel and Lebanon have agreed to extend their ceasefire for
another three weeks after talks in Washington. There's no immediate
response from Israel or Iran backed Hezbolla. The militant group
is not involved in the ceasefire, but has largely abided
by it.
Only then the price of oil is set for its
biggest weekly gain since the first week of the war.
Right now, NIMEX screwed oil is up one and a
half percent in ninety seven dollars twenty seven cents a barrel.
Brent is at one hundred and six dollars eighty eight cents,
with little sign of de escalation. The effective closure of
the Straight of Horn Moves is taking an increasing toll
on global energy markets, and we get more with Bloomberg's
Will Kennedy in London.
Going back to last Friday, when the Avanian said the
Strait was open, there was a really positive reaction from
oil traders who thought that finally there was the lightly
resolution and that ships might start leaving the Gulf and
get back and the energy market could begin the long
process of getting back to normal. And I think this
week that optimism has really faded, and we've seen a
steady of ratcheting up in the oil place.
As a result.
It's really worth bearing in mind and that although the
intense military action the bombing has stopped, the Strait is
probably more clothes than it ever has been. And when
not getting the oil and the fuel that we need
out of the Persian Gulf.
Bloomberg's Well Kennedy in London. According to Goldman Zachs, the
Persian Gulf oil supply is about fifty seven percent below
pre war levels.
And a new report Karen says the Iran war will
keep the global natural gas market tight for at least
two more years. This is according to the International Energy Agency.
It says the conflict has delayed a long anticipated glot
in liquefied natural gas, even as new capacity comes online.
Katar has said Iranian strikes last month damaged about seventeen
percent of its liquefaction capacity. It says repairs there could
take as long as five years.
Meanwhile, Nathan Bloomberg News has learned European Union leaders are
tasking the bloc's finance ministers to come up with new
measures to deal with the continent's energy crunch. Bloomberg Chief
European correspondent and Oliver Crook is covering the EU leader's
meeting in Cyprus.
There's, of course, that longer term post to the EU
will use to say that this is all about electrification.
In the long term, no matter where your gas is
coming from whether it's Russia, whether it's the Gulf, and
increasingly also concerns about the United States. You're not safe
until your energy autonomous, and that is going to be
one of their big pushes to try to get that
energy independence of through electricity and electrification.
Bloomberd Chief You're of. Correspondent Oliver Crook says gas has
gained thirty four percent since the conflict started, while renkrude
has jumped thirty seven percent.
Well back of the US.
Karen the Trump administration maybe looking at ways to punish
NATO allies for what it sees as a lack of
support for the war. This is according to a report
from Reuters that says the Pentagon is considering options like
suspending Spain from the alliance or reviewing the US position
on the UK's claim to the Falkland Islands. The report
cites an internal email and a US official. Spanish Prime
Minister Pedro Sanchez was one of the earliest critics of
the war. He called it a violation of international law.
Sanchez says he will ma normal cooperation with NATO allies
and rely on official positions from Washington, not reports of
private emails.
Nathan, a US.
Soldier involved in the capture of then Venezuela and President
Nicholas Maduro, has been charged with using classified information to
win more than four hundred thousand dollars in an online
betting market. Federal officials say Gan and Ken van Dyke
placed about thirteen bets in the week leading up to
the military operation to make money on the prediction market
side poly market. Van Dyke is a Special Forces soldier
based in Fort Bragg, North Carolina. The Justice Department says
he was involved in the planning and execution of the
Venezuela raid.
Turn back to markets now, Karen.
Futures are mixed as we close out the trading week,
though Nasdaq futures are getting a lift from Intel. Those
shares wow up twenty four percent in early trading. The
chipmaker delivered a sales forecast well above analyst estimates. Bloomberg
Technology host ed Ludlow has more on what's the rally.
The Intel story is a CPU story. So in the
world of AI, when we move from a place where
a lot of the activity is focused on training to
inference running the AI models, Intel's feeling that benefit and frankly,
they are struggling to keep up with the CPU demand.
That's kind of the core story. Margins were better in
the court gone largely because of higher revenues, But the
outlook for the current period on sales, that's the driver.
It is the AI and data center segment.
Bloomberg Tech said.
Ludlow says the upbeat outlook suggests Intel CEO Lip Bhutan
is making progress on his plan to improve Intel's operations.
Nathan, the Intel results may fuel another record setting day
for chip stocks. The Philadelphia Semiconductor Index is coming off
a record seventeen straight winning sessions. It's at more than
thirty percent already in April.
Karen, two mammoth tech companies are cutting jobs to help
offset AI investments.
We get the story from Bloomberg's Charlie Pellett.
At Microsoft, the early retirement offer wet out to thousands
of employees in the US, with about seven percent of
the US workforce eligible for the buyouts. The company had
one hundred and twenty five thousand employees in the US
as of June twenty twenty five, meaning about eight seven
hundred and fifty workers could be eligible. Meanwhile, Meta Platforms
plans to cut ten percent of its workers in an
effort to boost efficiency and offset its heavy spending on
artificial intelligence.
In New York.
Charlie Pellett Bloomberg Radio.
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. The NTSB says a firefighter whose truck collided
with an Air Canada jet last month on a runway
at New York's LaGuardia Airport heard an air traffic controller
warren stop stop, stop, but did not know who it
was for. That's according to an investigative report released on Thursday.
The NTSB said in a preliminary report on the March
twenty second accident that a crash prevention system for air
traffic controllers did not generate an audio or visual alert.
The report said the truck started moving while warning lights
that act as a stop sign for crossing traffic were
still lit. Both Air Canada pilots were killed. One person
has died and five others were hurt when gunfire erupted
at the Mall of Louisiana Baton Rouge. Police say yesterday's
shooting was not a random act of violence, but a
disagreement between two groups of people that ended with gunfire.
Police Chief TJ. Moore says an officer who is always
stationed at the mall was able to respond immediately.
This is early in an investigation.
We have five people in custody.
We're still trying to unravel their exact involvement in this.
Chief Moore says, so far, no charges have been filed.
A search and rescue operation is underway in Enitt, Oklahoma,
where a large, violent tornado touched down last night. Mayor
David Mason says that the tornado struck on the south
side of the rural town. He says police did get
some people out of homes that sustained heavy damage.
They were doing search and rescue.
We have now backed him out so that OSPAK come
into a secondary search and dude in quadrats.
Mayor Mason says there are reports of minor injuries. Global
News twenty four hours a day and whenever you wanted
with the Bloomberg News. Now now Michael Barr and this
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Hearen.
Thanks Michael, time now for our Bloomberg Sports update and
for that we bring in John stash.
Hour, Thanks Karen. Indiana won the national championship in college football.
Fernando Mendoza was their Heinsman Trophy winning star quarterback and
as everyone expected, he was the first player taken in
the draft underway last night in Pittsburgh. He goes to
the Las Vegas Raiders. Meanwhile, Ohio State had four players
taken in the first eleven picks. Home team's one of
the NBA Playoffs Atlanta, a second straight one point went
over the Knicks. Toronto beat Cleveland, Minnesota beat dem for
the road teams all one in the Stanley Cup Playoffs.
That's to Bloomberg Sports Update.
Stay with us more from Bloomberg day Break coming up after.
This Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
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Bloomberg Business app. This is Bloomberg Daybreak.
Good morning. I'm Nathan Hager.
The standoff continues between the US and Iran, now more
than two weeks into a ceasefire that has turned into
a test of wills over the Strait of Horror moves.
But President Trump says he's in no hurry to reach
a deal with Tehran.
I don't want to rush it.
I want to take my time.
We have plenty of time, and I want to get
a great deal.
That was President Trump speaking to reporters yesterday in the
Oval Office. Joining us this morning from Dubai is Bloomberg
Middle East correspondent and Bloomberg Horizons anchor Jumana Bursecchi. Jumana,
is there any sense that Iran is in a hurry
to reach a deal? Good morning, Good morning.
Well, no sense whatsoever that there's going to be an
imminent other round of discussions. But again, it's one of
those situations where we won't know until we're informed, and
we know that the Pakistani mediators are really trying hard
to bring the two sides back together again. Just an
hour ago at Pakistani media outlets are reporting that once
again the Prime Minister had been reaching out to senior
Iranian officials to see what can be done to bridge
the gap between the two sides. But essentially here and
here I'm talking about proceeding to the next phase of discussions.
The main sticking point is the Strait and we've heard
from the Iranians multiple times of the course of this
week and they say that they will not be progressing
to the second round of discussions so long as the
US naval boockade is in place. President Trump, you played
a bit of his comments there. He was saying that
they're not going to open the boockade or lift the
boockade until Iran sign on to a deal. So it's
a bit of a chicken and egg situation here as stalemates,
so to speak. And the question from here is, you know,
what shakes the stillmates?
That is the question, isn't it?
Because we've heard from President Trump escalating his rhetoric on
social media, talking about the Navy being ordered to shoot
boats that lay minds in the Strait.
What impact is the president's war of words having.
Yes, So we are out with some reporting overnight our
colleagues in Bloomberg on the b In side, and they're
suggesting that, you know, they've had conversations with the Iranian sources,
with Arab officials, and the feedback is that a lot
of the language and the rhetoric that President Trump has
been using on his social media has not gone down
well at all. The threats, the threat and the threat
to wipe out civilization him proclaiming that Iran had made
all of these concessions and yielded to US demands. That
is riling them up and is also another reason potentially
for you know, the these talks being held up. Not
only is it about the blockade, but also about President
Trump's personal style too, which could also be a complicating
factor in terms of where we go next.
Yes, in the meantime, we've had talks between Israel and
Lebanon in Washington. The President says that ceasefires being extended
in our last minute jumana. Could that break the dam
between the US and Iran.
It doesn't likely to be the case, because the US
have been trying to separate the two tracks, so to speak,
So there are two parallel tracks going on here. Welcome news,
of course for Lebanon and for the region that the
sea is fire between Lebanon and Israel. Orbit I should
say between Lebanon's Hezbala and Israel has been extended by
another three weeks. But I should just emphasize these are
still preliminary discussions and there are still blows being exchanged
in the southern part of Lebanon, where Israel has established
a what they would call a buffer zone and security
zone up to a yellow line, and because of that,
many people in Lebanon are very uncomfortable about whether the
ceasefire is actually going to hold. But the point is
the two sides actually are speaking, and what the US
is trying to do here is to separate the issue
and let Lebanon States handle it as opposed to Iran
act as an agent on behalf of Hesbala.
This is Bloomberg Daybreak, your morning podcast on the stories
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