Heathrow Airport Shuttered; Musk and China War Plans

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.200 stories we're following today. 0:00:15.680 --> 0:00:18.599 Karen, we begin with a breaking story impacting hundreds of 0:00:18.600 --> 0:00:22.639 thousands of travelers around the world. London's Heathrow Airport is 0:00:22.800 --> 0:00:26.920 closed all day. Let's get the very latest with Bloomberg Daybreak. 0:00:26.920 --> 0:00:30.800 Euro banker Caroline Hepgar in London. Good morning, Caroline, what 0:00:31.080 --> 0:00:31.720 is happening? 0:00:32.040 --> 0:00:34.519 Good morning, Nathan and Karen. It is a fire at 0:00:34.560 --> 0:00:37.760 a power substation about two miles from the airport that 0:00:37.800 --> 0:00:40.480 broke out just before midnight that led to a cut 0:00:40.520 --> 0:00:43.519 in power for Heathrow. It has forced the cancelation of 0:00:43.640 --> 0:00:46.599 thousands of flights. Flight Radar twenty four says that there 0:00:46.640 --> 0:00:50.239 were due to be one three hundred flights for today. 0:00:50.640 --> 0:00:52.440 Some one hundred and twenty planes had to be re 0:00:52.640 --> 0:00:55.880 rooted away from Heathrow in the early hours of this morning. 0:00:55.880 --> 0:00:59.760 Heathrow says that the disruptions will continue over the coming days, 0:01:00.000 --> 0:01:02.800 adding that passengers should not travel to the airport under 0:01:02.920 --> 0:01:06.200 any circumstances. The London Farbagade said in a statement that 0:01:06.240 --> 0:01:09.440 the blaze is now under control. No casualties, but the 0:01:09.480 --> 0:01:12.480 cause of the fire is not yet known. European travel 0:01:12.480 --> 0:01:15.920 and leisure stocks Nathan this morning down two percent, he throw, 0:01:15.959 --> 0:01:19.240 which is home to airlines including IAG's British Airways and 0:01:19.319 --> 0:01:23.120 Virgin Atlantic. IAG shares now down as much as four 0:01:23.120 --> 0:01:24.000 point three percent. 0:01:24.360 --> 0:01:26.760 Caroline, when do we expect things to get back to normal? 0:01:27.520 --> 0:01:30.440 This is the unknown, he throws, the busiest airport in Europe. 0:01:30.480 --> 0:01:33.480 The airport doesn't know when power will be restored. The 0:01:33.600 --> 0:01:36.600 Energy Secretary Ed Millardband has been speaking to media in 0:01:36.640 --> 0:01:39.200 the UK, including to Sky News. He says that he's 0:01:39.240 --> 0:01:41.840 spoken to the National Grid, who are really at the 0:01:41.840 --> 0:01:44.520 epicenter of this, he says, and we will be doing 0:01:44.600 --> 0:01:47.080 everything we can both to restore power and to help 0:01:47.120 --> 0:01:51.560 the national grid. Jeffrey says that passenger compensation for delayed 0:01:51.560 --> 0:01:55.040 flights is likely going to have a big immediate impact 0:01:55.120 --> 0:01:59.040 on IAG. Some local people were evacuated. There was lots 0:01:59.080 --> 0:02:04.080 of smoke, no doubt, many thousands of frustrated passages. 0:02:04.640 --> 0:02:07.320 All right, Caroline, Hepger, thank you. Will continue to follow 0:02:07.360 --> 0:02:10.760 this story throughout the morning. We turned to Washington now, though, 0:02:10.840 --> 0:02:15.040 with President Trump denying a bombshell report about Elon Musk 0:02:15.120 --> 0:02:18.720 being briefed about the Pentagon's plan for any potential war 0:02:18.760 --> 0:02:21.519 with China to get the very latest to the Bloomberg's 0:02:21.560 --> 0:02:24.040 John Tucker, John, good Morning and Good Morning Karen. 0:02:24.080 --> 0:02:27.480 The New York Times sites multiple unidentified US officials as 0:02:27.480 --> 0:02:30.640 saying Musk would see details of American plans in a 0:02:30.639 --> 0:02:34.720 presentation led by the Defense Secretary Pete Hegsith and top 0:02:34.840 --> 0:02:38.760 US military leaders. The Wall Street Journal also reported Mosk 0:02:38.840 --> 0:02:41.880 would receive a briefing on US plans for any potential 0:02:42.000 --> 0:02:45.040 China war, and a social media post, President Trump says 0:02:45.040 --> 0:02:49.040 the Times report is ridiculous and completely untrue. In a 0:02:49.080 --> 0:02:52.080 separate post, heg Sith confirmed that Musk will visit the 0:02:52.080 --> 0:02:55.880 Pentagon today, saying it's an informal meeting about innovation. 0:02:56.440 --> 0:02:56.600 Well. 0:02:56.639 --> 0:02:59.920 The reports underscore the unprecedented roles that Musk holds a 0:03:00.000 --> 0:03:02.560 across the heart of the US government and the economy 0:03:02.680 --> 0:03:05.919 all at the same time. Any such briefing would expose 0:03:05.960 --> 0:03:10.800 some of the Pentagon's closely guarded strategic thinking to a 0:03:10.800 --> 0:03:15.240 billionaire with extensive business ties in China. The meantime, Musk 0:03:15.440 --> 0:03:18.560 is now threatening Pentagon employees in a post on Acts. 0:03:18.639 --> 0:03:21.880 He says he looks forward to the prosecution of those 0:03:21.919 --> 0:03:25.800 at the Pentagon who are leaking false information. He warns 0:03:26.040 --> 0:03:28.480 they will be found in New York. I'm John Tucker, 0:03:28.520 --> 0:03:29.320 Bloomberg Radio. 0:03:29.600 --> 0:03:30.280 John, thank you. 0:03:30.360 --> 0:03:32.440 President Trump's made a major move and is push to 0:03:32.480 --> 0:03:35.240 overhaul the federal government. He assigned an executive order to 0:03:35.280 --> 0:03:37.880 all but dismantle the Department of Education. 0:03:38.360 --> 0:03:41.320 After forty five years. The United States spends more money 0:03:41.320 --> 0:03:46.560 on education by far than any other country, and spends likewise, 0:03:47.000 --> 0:03:50.680 by far more money per pupil than any country. And 0:03:50.720 --> 0:03:53.560 it's not even close, but yet we rank near the 0:03:53.600 --> 0:03:55.960 bottom of the list in terms of success. 0:03:56.240 --> 0:03:59.680 The President's order direct Education Secretary Linda McMahon to take 0:03:59.720 --> 0:04:02.760 all necessary steps to close the agency, but it doesn't 0:04:02.760 --> 0:04:05.800 give a clear blueprint, and shutting down an entire cabinet 0:04:05.800 --> 0:04:08.720 department would take an Act of Congress. In remarks heard 0:04:08.720 --> 0:04:11.520 here on Bloomberg, Trump said the agency's core functions, like 0:04:11.560 --> 0:04:14.560 pelgrants and funds for special needs children will remain. 0:04:15.000 --> 0:04:18.880 They are going to be preserved in full and redistributed 0:04:19.000 --> 0:04:23.280 to various other agencies and departments that will take very 0:04:23.279 --> 0:04:25.880 good care of them and it's very important to Linda, 0:04:25.920 --> 0:04:27.680 I know, and it's very important. 0:04:27.320 --> 0:04:27.880 To all of us. 0:04:28.200 --> 0:04:31.040 President Trump's already moved to cut nearly half the Education 0:04:31.120 --> 0:04:32.160 Department's workforce. 0:04:32.200 --> 0:04:35.279 This order is likely to face legal challenges well, Nathan. 0:04:35.320 --> 0:04:38.960 President Trump also signed an executive order aimed at boosting 0:04:39.000 --> 0:04:42.760 critical mineral production, and that could include coal. The President 0:04:42.839 --> 0:04:46.159 is using the Defense Production Act to provide financing, loans 0:04:46.200 --> 0:04:49.359 and other investments of poor to process rare earth elements 0:04:49.360 --> 0:04:52.240 and other minerals in the US. The move addresses long 0:04:52.279 --> 0:04:55.280 health concerns that China controls the vast majority of a 0:04:55.360 --> 0:04:57.640 rare mineral processing certain markets. 0:04:57.680 --> 0:05:00.160 Now, Karen futures are lower as we close out out 0:05:00.200 --> 0:05:02.359 the trading week. The S and P five hundred's fallen 0:05:02.400 --> 0:05:05.120 for four straight weeks, and there could be more volatility 0:05:05.240 --> 0:05:07.960 than normal today. We get more from Bloomberg Market's reporter 0:05:08.080 --> 0:05:08.840 Valerie Titel. 0:05:09.080 --> 0:05:11.240 We need to take an eye to triple witching. This 0:05:11.279 --> 0:05:14.120 is the option expiry event that happens at the end 0:05:14.160 --> 0:05:16.800 of every quarter. It's called triple witching because there are 0:05:17.000 --> 0:05:20.800 single stocks ETFs and indices. All three options tied to 0:05:20.800 --> 0:05:24.359 those equity indices expire this afternoon. Into the close, we 0:05:24.440 --> 0:05:27.919 normally see a very large surge in volumes and some 0:05:28.120 --> 0:05:32.039 volatile stocks, maybe some more less liquid single names have 0:05:32.160 --> 0:05:34.159 some pretty wild swings into the clothes. 0:05:34.279 --> 0:05:37.120 Bloomberg Markets reporter Valerie Ttel says four and a half 0:05:37.160 --> 0:05:39.960 trillion dollars of options contracts expire today. 0:05:40.720 --> 0:05:43.000 Well, let's check some stocks on the move this morning, 0:05:43.080 --> 0:05:45.880 Nathan and shares of FedEx are down seven percent. The 0:05:45.920 --> 0:05:48.400 shipping company has lowered as full year guidance for a 0:05:48.520 --> 0:05:52.800 third consecutive quarter. Inflation and uncertain demand for packages are 0:05:52.839 --> 0:05:56.479 squeezing the company's bottom line. Lea Clasgow covers FedEx for 0:05:56.520 --> 0:05:57.600 Bloomberg Intelligence. 0:05:57.880 --> 0:06:01.440 The demand picture is probably not as good as we 0:06:01.520 --> 0:06:04.600 thought it might have been three months ago when President 0:06:04.600 --> 0:06:07.920 Trump was elected and people thought the animal spirits will 0:06:07.960 --> 0:06:11.800 be released, and you know, we'd have a less regulation, 0:06:12.680 --> 0:06:15.599 kind of lower tax environment, which is obviously better for business. 0:06:15.600 --> 0:06:18.480 But fast forward today, you know, companies are reeling in 0:06:18.520 --> 0:06:22.480 their capex because they just don't know what the future holds. 0:06:22.360 --> 0:06:26.120 And Bloomberg Intelligence is late. Glasgow says FedEx's latest outlook 0:06:26.160 --> 0:06:29.359 assumes the global economic, political, and trade environment does not 0:06:29.480 --> 0:06:31.280 worsen any further and Karen. 0:06:31.320 --> 0:06:33.000 Shares of Nike are down five percent. 0:06:33.000 --> 0:06:35.680 The sportswear maker is signaling further declines in revenue and 0:06:35.680 --> 0:06:39.320 profitability due to an inventory clearance. Nike also expects its 0:06:39.320 --> 0:06:42.120 gross margins to decline sharply in the current quarter from 0:06:42.160 --> 0:06:44.599 a year earlier, in part due to US tariffs on 0:06:44.680 --> 0:06:46.520 products from China and Mexico. 0:06:46.880 --> 0:06:49.720 We're also watching Micron Technology, the largest US maker of 0:06:49.800 --> 0:06:52.480 computer memory chips, gave a strong sales forecast for that 0:06:52.560 --> 0:06:56.320 current quarter, bolstered by demand for artificial intelligence products, and. 0:06:56.320 --> 0:06:57.920 AT and T is going to be in focus today. 0:06:58.000 --> 0:07:02.440 Karen Bloomberg News has learned BT Group approached major telecommunications companies, 0:07:02.480 --> 0:07:05.479 including AT and T, about partnerships to help turn around 0:07:05.480 --> 0:07:09.279 its struggling international business. When asked about a potential BT 0:07:09.440 --> 0:07:13.560 partnership recently, AT and T's chief financial officer declined to comment. 0:07:14.240 --> 0:07:17.080 Well, we turn to the economy now, and former Treasury 0:07:17.120 --> 0:07:20.600 Secretary Larry Summers says he is astonished that FED chair J. 0:07:20.840 --> 0:07:24.120 Powell used the word transitory to describe the effects of 0:07:24.160 --> 0:07:25.960 President Trump's tariff policy. 0:07:26.680 --> 0:07:30.920 I would have thought the chairman would retire the words translatory. 0:07:31.640 --> 0:07:37.760 That is perhaps the most notoriously ill chosen phrase of 0:07:37.840 --> 0:07:42.200 his excellent seven and a half year run as FED chair. 0:07:42.440 --> 0:07:45.360 And Summers made the comments on Bloomberg's Wall Street Week 0:07:45.360 --> 0:07:48.120 with David Weston. Here're the full conversation tonight at six 0:07:48.160 --> 0:07:51.520 pm Wall Street Time on Bloomberg Radio and Bloomberg Television, 0:07:51.800 --> 0:07:54.520 or get the Wall Street Week podcast after the show 0:07:54.560 --> 0:08:00.560 airs wherever you get your podcasts. Time now for a 0:08:00.560 --> 0:08:02.240 look at some of the other stories making news in 0:08:02.280 --> 0:08:03.960 New York and around the world. And for that we're 0:08:04.000 --> 0:08:06.600 joined by Bloomberg's and Michael Barr Michael, Good Morning. 0:08:06.400 --> 0:08:09.840 Good morning Karen. The National Transportation Safety Board is issuing 0:08:09.880 --> 0:08:14.720 sweeping recommendations for state departments of Transportation to immediately assess 0:08:14.760 --> 0:08:18.240 the vulnerability of their bridges. The report comes after the 0:08:18.240 --> 0:08:21.640 collapse of the Francis Scott Key Bridge in Baltimore after 0:08:21.720 --> 0:08:24.920 it was struck by a cargo ship almost a year ago. 0:08:25.360 --> 0:08:28.880 INTSP Chair Jennifer Hammondy says the report should be a 0:08:28.920 --> 0:08:32.600 warning to other bridges across the country and is urging 0:08:32.640 --> 0:08:33.400 owners to comply. 0:08:34.040 --> 0:08:38.400 Had they ran the calculation on the Francis Scott Key Bridge, 0:08:38.920 --> 0:08:43.560 the MDTA would have been aware that the bridge was 0:08:43.840 --> 0:08:50.880 almost thirty times greater than the risk threshold ASHTOSE sets 0:08:51.440 --> 0:08:53.560 for Critical Essential bridges. 0:08:54.160 --> 0:08:58.319 NTSP Chair Jennifer Hammody is calling on the vulnerability assets 0:08:58.320 --> 0:09:03.040 of nearly seventy bridge bridges across the US, including fifteen 0:09:03.040 --> 0:09:07.040 in New York and New Jersey. Transportation Secretary Sean Duffy 0:09:07.080 --> 0:09:10.040 says he's granting New York a thirty day extension to 0:09:10.360 --> 0:09:14.600 end its congestion pricing program in Manhattan. The Trump administration's 0:09:14.600 --> 0:09:18.600 original deadline was today. New York Governor Kathy Okel and 0:09:18.840 --> 0:09:21.920 the MTA pledged to keep the congestion pricing cameras on 0:09:22.240 --> 0:09:26.240 no matter what the administration did. Congress Member Jerry Natler 0:09:26.240 --> 0:09:28.640 of New York says, the elected officials who run the 0:09:28.640 --> 0:09:29.640 city know it best. 0:09:30.000 --> 0:09:33.480 The value pricing program is so the established under federal law, 0:09:33.800 --> 0:09:38.559 it is clearly delivering tangible benefits. Simply put, congestion pricing 0:09:38.640 --> 0:09:41.920 is no different than New Jersey's ability to set tolls 0:09:42.080 --> 0:09:43.559 on the New Jersey turnpipe. 0:09:43.600 --> 0:09:47.480 Meanwhile, opponents of the tolls, like Representative Josh Gottheimer of 0:09:47.520 --> 0:09:50.600 New Jersey, say congestion pricing is destined. 0:09:50.160 --> 0:09:51.480 To fail to the NCAA. 0:09:51.640 --> 0:09:54.160 Enjoy your last hour, screwing over hard working commuters with 0:09:54.160 --> 0:09:55.040 the congestion. 0:09:54.760 --> 0:09:59.520 Tax Gottheimer audio courtesy of News for. Israel's cabinet has 0:09:59.559 --> 0:10:02.280 approved Prime Minister menagement at Now, whose decision to fire 0:10:02.320 --> 0:10:06.560 the country's domestic intelligence chief Running Bar despite thousands of 0:10:06.640 --> 0:10:10.720 protesters rallying against his removal. Global News twenty four hours 0:10:10.720 --> 0:10:13.199 a day and whenever you want it with the Bloomberg 0:10:13.200 --> 0:10:15.560 News Now. I'm Michael barrn. This is Bloomberg. Karen. 0:10:15.760 --> 0:10:22.839 All right, Michael barr thank you time now for the 0:10:22.840 --> 0:10:26.000 Bloomberg Sports Update, brought to you by try State. Audie. 0:10:26.040 --> 0:10:28.480 Here's John Staneshawer John, good morning, Good. 0:10:28.400 --> 0:10:28.920 Morning, Karen. 0:10:29.000 --> 0:10:32.160 Nobody at Saint John's wants this storybook season to end. 0:10:32.160 --> 0:10:34.559 The red storm began. The NC doubled as in Providence 0:10:34.600 --> 0:10:37.640 against Omah, and a slow start took Saint John's three 0:10:37.679 --> 0:10:40.280 and a half minutes to score a point. Thirteen minutes 0:10:40.320 --> 0:10:41.800 into the game, they had yet to take a lead, 0:10:41.800 --> 0:10:45.360 but up five at halftime. The second half all red Storm. 0:10:45.640 --> 0:10:48.840 Saint Shahn's really stayed attached Oscar warn Let's sit three 0:10:49.000 --> 0:10:51.559 mist it wawn what down by Scott here come to 0:10:51.640 --> 0:10:54.200 Charnie's on the move three on one give what wos 0:10:54.559 --> 0:10:59.079 what brs to slam Shawnee. 0:10:58.559 --> 0:11:02.080 Start boy us been on Saint John's won eighty three 0:11:02.240 --> 0:11:04.959 fifty three. R. J. Lewis scored twenty two. It's their 0:11:04.960 --> 0:11:08.480 first NCAA win in twenty five years, and tomorrow afternoon 0:11:08.840 --> 0:11:12.000 if they'll take on Arkansas. It was earlier in Providence 0:11:12.000 --> 0:11:14.760 where the biggest upset took place. Not only that twelfth 0:11:14.800 --> 0:11:17.520 seeded mcneie knocked off fifth seed at Clemson, but that 0:11:17.640 --> 0:11:21.280 at halftime McNeice led thirty one to thirteen, They led 0:11:21.280 --> 0:11:23.280 by twelve with a minute to go, ended up winning 0:11:23.320 --> 0:11:26.160 by only two first NCAA win in school history. The 0:11:26.240 --> 0:11:28.679 next really missed Jalen Bruns. In last two nights of 0:11:28.760 --> 0:11:31.800 May that obvious, a fifteen point loss in San Antonio 0:11:32.040 --> 0:11:35.079 a seventeen point loss in Charlotte. The Hornets have lost 0:11:35.360 --> 0:11:38.040 fifty one games. They've had five losses this month by 0:11:38.040 --> 0:11:40.040 more than thirty points, and yet they outscored the Knicks 0:11:40.040 --> 0:11:42.800 in every quarter and won one fifteen to ninety eight. 0:11:42.880 --> 0:11:44.920 The Nets in Indiana were up ten at the half, 0:11:45.160 --> 0:11:48.360 Pacers came back to winning overtime. Another Rangers loss at 0:11:48.400 --> 0:11:50.520 the Garden loss at Toronto four to three. 0:11:50.559 --> 0:11:52.880 That's three home losses this week. 0:11:53.160 --> 0:11:54.520 Mayple Lice never trailed. 0:11:54.240 --> 0:11:56.640 Got two goals from John Tavares, Islanders with a four 0:11:56.679 --> 0:11:58.800 to three win over Montreal, now tied with the Rangers. 0:11:58.840 --> 0:12:01.640 The Devil's lost to Calgary five to three. Of the 0:12:01.679 --> 0:12:04.880 Celtics being sold, the price tag is six point one billion, 0:12:04.960 --> 0:12:08.320 a little more than what the Washington Commanders just went for. 0:12:08.440 --> 0:12:11.120 So what's the most in North American sports history? Two 0:12:11.280 --> 0:12:14.120 billion more than any NBA team has gone for. The 0:12:14.120 --> 0:12:18.640 new ownership group, led by Bill Chisholm from the Symphony Technology. 0:12:18.080 --> 0:12:21.280 Firm, is a lifelong Celtics fan. Johns Dashy Ally Bloomberg 0:12:21.320 --> 0:12:22.520 Sports Karen Natan. 0:12:24.720 --> 0:12:28.920 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:12:29.040 --> 0:12:31.880 and around the world on Bloomberg dot Com and the 0:12:31.920 --> 0:12:35.040 Bloomberg Business app. This is Bloomberg Daybreak. 0:12:35.240 --> 0:12:36.760 Good morning, I'm Nathan Hager. 0:12:36.840 --> 0:12:40.880 This morning, Europe's busiest airport is shut down. A power 0:12:40.960 --> 0:12:44.440 outage just forced London's Heathrow to close all day, causing 0:12:44.480 --> 0:12:47.680 travel chaos for the hundreds of thousands who rely on 0:12:47.720 --> 0:12:50.520 the Transatlantic flight hub each day. For the very latest 0:12:50.559 --> 0:12:54.599 We're joined by Bloomberg Global Aviation editor Benedict Como. Benedict, 0:12:54.640 --> 0:12:56.480 good morning. What do we know at this point about 0:12:56.520 --> 0:12:58.800 what caused this fire? We understand it happened at a 0:12:58.840 --> 0:12:59.800 power substation. 0:13:01.280 --> 0:13:03.360 Yes, good morning, that's right. So this is a power 0:13:03.440 --> 0:13:07.880 substation nearby, about two miles away from the airport that 0:13:08.040 --> 0:13:10.760 caught fire in the middle of the night. We don't 0:13:10.800 --> 0:13:13.240 know why. That's going to be one of the main 0:13:13.760 --> 0:13:18.040 thrust of the investigation. It has now been extinguished, but 0:13:18.080 --> 0:13:21.080 the damage is done. So not only are people in 0:13:21.080 --> 0:13:26.400 the vicinity without power, but hethrow airport is entirely shut off. 0:13:26.960 --> 0:13:30.360 Give us a sense of just how much chaos this 0:13:30.480 --> 0:13:33.040 is causing right now. As we said, this is the 0:13:33.040 --> 0:13:34.520 busiest airport in Europe. 0:13:35.440 --> 0:13:38.200 Yeah, this is This is an unprecedented breakdown really for 0:13:38.280 --> 0:13:40.560 the airport. There have been disruptions in the past, you know, 0:13:40.600 --> 0:13:42.440 there might have been strikes, there might have been weather 0:13:42.480 --> 0:13:45.679 related to disruptions, but for the airport to close down 0:13:45.679 --> 0:13:49.040 for an entire day, that is unheard of. This is 0:13:49.040 --> 0:13:52.200 an airport that handles about four hundred flights a day, 0:13:52.559 --> 0:13:55.800 two hundred thousand passengers, you know, give or take an 0:13:55.840 --> 0:14:00.280 aircraft taking off about every minute, so this is to 0:14:00.280 --> 0:14:02.920 have a massive ripple effect. There were planes in the 0:14:02.960 --> 0:14:05.120 air already that were coming in from the Middle East 0:14:05.120 --> 0:14:08.800 from Asia. Those planes had to be rerouted to places 0:14:08.920 --> 0:14:12.840 like Frankfurt, like Birmingham in the UK. Some were able 0:14:12.880 --> 0:14:15.600 to land at Gatwick Airport, which is the other big 0:14:15.720 --> 0:14:18.200 London airport, so those people were lucky. But for a 0:14:18.200 --> 0:14:20.800 lot of people, they're out of position or they didn't 0:14:20.840 --> 0:14:23.640 even get to where they wanted to be. Everyone flying 0:14:23.640 --> 0:14:27.000 from the US will have to think twice. Hopefully by 0:14:27.000 --> 0:14:29.720 tomorrow things will be back to normal, but usually it 0:14:29.760 --> 0:14:34.120 is erupted on this scale leads to several days, if 0:14:34.160 --> 0:14:38.120 not into next week, of disruptions because you'll have aircraft 0:14:38.120 --> 0:14:40.520 out of position, you'll have a crew out of position. 0:14:40.760 --> 0:14:42.800 So this is not just today, This is something that 0:14:42.840 --> 0:14:44.920 will stay with the airport for the next couple of days. 0:14:45.200 --> 0:14:48.280 Whenever something like this happens at an airport, your mind 0:14:48.400 --> 0:14:54.560 goes to sabotage. Are authorities going there yet, Benedict, It's. 0:14:54.360 --> 0:14:57.640 Too soon to say the blazer's just been extinguished, but 0:14:57.720 --> 0:15:00.200 this will certainly be one line of inquiry that they 0:15:00.240 --> 0:15:03.240 will look at. Another question that will come up is 0:15:03.400 --> 0:15:06.280 how can it be that as something like Heathrow and 0:15:06.360 --> 0:15:09.760 Airport that are so critical to the UK infrastructure, didn't 0:15:09.800 --> 0:15:13.480 have the necessary redundancy systems in place. How can it 0:15:13.520 --> 0:15:17.280 be that a single power station, regardless how big and 0:15:17.320 --> 0:15:20.720 important it is, could really take out this airport. What 0:15:20.840 --> 0:15:23.560 kind of precautions might there have been. This comes at 0:15:23.600 --> 0:15:26.640 a time where the airport is trying to expand the 0:15:26.760 --> 0:15:30.200 UK is really pitching it we're open for business, We're 0:15:30.240 --> 0:15:32.920 open for expansion kind of idea. And this is not 0:15:33.040 --> 0:15:36.480 a good look for the airport or for the government 0:15:36.520 --> 0:15:38.640 at large, and there will be some tough questions that 0:15:38.680 --> 0:15:39.360 will be asked. 0:15:39.720 --> 0:15:43.120 This is Bloomberg Daybreak, your morning podcast and the stories 0:15:43.200 --> 0:15:46.240 making news from Wall Street to Washington and beyond. 0:15:46.480 --> 0:15:48.880 Look for us on your podcast feed by six am 0:15:48.920 --> 0:15:52.320 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:15:52.560 --> 0:15:55.400 You can also listen live each morning starting at five 0:15:55.440 --> 0:15:58.040 am Wall Street Time on Bloomberg eleven three to zero 0:15:58.160 --> 0:16:01.040 in New York, Bloomberg in ninety nine, I'm one in Washington, 0:16:01.120 --> 0:16:04.440 Bloomberg ninety two to nine in Boston, and nationwide on 0:16:04.600 --> 0:16:06.960 serious XM Channel one twenty one. 0:16:07.200 --> 0:16:09.960 Plus listen coast to coast on the Bloomberg Business App 0:16:10.000 --> 0:16:12.800 now with Apple CarPlay and Android Atto interfaces. 0:16:13.000 --> 0:16:15.720 And don't forget to subscribe to Bloomberg News Now. 0:16:15.880 --> 0:16:16.880 It's the latest. 0:16:16.560 --> 0:16:19.320 News, whenever you want it in five minutes or less. 0:16:19.600 --> 0:16:22.680 Search Bloomberg News Now on your favorite podcast platform to 0:16:22.680 --> 0:16:26.200 stay informed all day long. I'm Karen Moscow. 0:16:26.000 --> 0:16:26.960 And I'm Nathan Hager. 0:16:27.120 --> 0:16:29.200 Join us again tomorrow morning for all the news you 0:16:29.200 --> 0:16:31.560 need to start your day right here on Bloomberg. 0:16:31.640 --> 0:16:31.960 Dbreay