Iran President's Death Leaves Succession Questions; Trump Trial Resumes

Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan 0:00:11.080 --> 0:00:14.040 Hager and I'm Karen Moscow. Here are the stories we're 0:00:14.080 --> 0:00:14.840 following today. 0:00:15.000 --> 0:00:16.960 Karen will have more on the markets in a moment, 0:00:17.040 --> 0:00:18.880 but first we have the latest on the death of 0:00:18.920 --> 0:00:22.720 Iranian President Ebrahim Raisi. He was killed in a helicopter 0:00:22.800 --> 0:00:26.360 crash along with Iran's farm minister Hossein Amer Abdallahi, and 0:00:26.920 --> 0:00:30.080 the wreckage was found yesterday in a mountainous area of Iran. 0:00:30.360 --> 0:00:34.440 Dense fog hampered rescue efforts. Bloomberg's head of Middle East 0:00:34.479 --> 0:00:37.479 and North Africa coverage, Stuart Livingstone Wallace, says there is 0:00:37.640 --> 0:00:39.520 currently no suspicion of foul play. 0:00:40.120 --> 0:00:43.040 The most likely explanation is that they were traveling on 0:00:43.280 --> 0:00:46.040 reasonably old equipment, because it is absolutely true that Iran's 0:00:46.080 --> 0:00:48.199 been on the sanctions for a very long time and 0:00:48.280 --> 0:00:51.519 has really struggled to get the equipment needed to maintain 0:00:51.920 --> 0:00:53.560 and then you layer in on top of that that 0:00:53.640 --> 0:00:56.320 they were in a mountainous area, that it was incredibly foggy, 0:00:56.400 --> 0:00:59.000 that there was heavy rain, and that does appear to 0:00:59.080 --> 0:01:01.880 be the most likely expert nation. However, that will not 0:01:02.160 --> 0:01:07.679 necessarily stop those conspiracy theories building up within Iran, particularly 0:01:07.840 --> 0:01:09.880 because he was one of the favorites to take over 0:01:09.959 --> 0:01:10.880 from the Supreme Leader. 0:01:11.280 --> 0:01:14.040 Bloomberg Stewart living Stuwala says the sixty three year old 0:01:14.080 --> 0:01:17.120 Rareisi was an ultra conservative cleric who won the presidential 0:01:17.160 --> 0:01:19.720 election in twenty twenty one and had been seen as 0:01:19.760 --> 0:01:23.759 a favorite to succeed Iotola Ali Hamani, Iran's Supreme Leader. 0:01:24.480 --> 0:01:27.200 Well Nathan Iranian ausori Is will now begin the process 0:01:27.200 --> 0:01:30.840 of installing a replacement for Rayusi gone their Mandevali's head 0:01:30.840 --> 0:01:32.640 of around coverage for Bloomberg News. 0:01:33.080 --> 0:01:35.160 The vice President, which at the moment is a man 0:01:35.240 --> 0:01:39.720 called mohamm Mad Morber, will take over as an acting president, 0:01:39.959 --> 0:01:42.720 and then according to the constitution, there needs to be 0:01:43.200 --> 0:01:46.039 a date I think for a presidential election announced within 0:01:46.120 --> 0:01:48.360 the next fifty days, and it's going to be very 0:01:48.440 --> 0:01:51.320 interesting to see how they go about doing that because 0:01:51.520 --> 0:01:56.080 this is quite unprecedented in the history of the Islamic Republic. 0:01:56.400 --> 0:01:59.600 It's only been around since nineteen seventy nine and Bracy 0:01:59.760 --> 0:02:03.320 was the eighth president, so they haven't had a situation 0:02:03.560 --> 0:02:04.680 like this before. 0:02:05.280 --> 0:02:08.120 And Bloomberg's going there in montevalis As. Rasi's death comes 0:02:08.160 --> 0:02:10.200 at a time of turmoil in the Middle East, as 0:02:10.240 --> 0:02:13.160 the war in Gaza between Israel and Hamas rages. The 0:02:13.280 --> 0:02:16.519 conflict has edged Iran, which backs the Islamis militant group, 0:02:16.639 --> 0:02:19.240 and Israel closer to all out conflict. 0:02:19.440 --> 0:02:22.240 Well Meanwhile, Karen Benny Gantz, who is a popular centrist 0:02:22.320 --> 0:02:25.040 member of Israel's three member war cabinet, has threatened to 0:02:25.160 --> 0:02:28.840 resign from the government if Prime Minister Benjamin Natanyahu does 0:02:28.880 --> 0:02:32.040 not adopt a new plan within three weeks. The announcement 0:02:32.160 --> 0:02:35.040 deepens a divide in Israel's leadership more than seven months 0:02:35.080 --> 0:02:37.800 into a war in which Israel has yet to accomplish 0:02:37.840 --> 0:02:41.440 its skulls of dismantling Hamas and returning scores of hostages 0:02:41.440 --> 0:02:43.840 abducted in the militant group's October seventh attack. 0:02:44.280 --> 0:02:46.760 Well Nathan, President Biden came face to face with some 0:02:46.880 --> 0:02:49.000 of the campus unrest that's come out of the war 0:02:49.160 --> 0:02:52.160 in Gaza. The President gave the commencement address at historically 0:02:52.240 --> 0:02:54.240 black Moorhouse College in Atlanta. 0:02:54.880 --> 0:02:59.560 What's happening in Gosden in Israel's heartbreaking innocent Palasa, He's caught. 0:02:59.320 --> 0:03:01.679 In the middle of all this, man, women. 0:03:01.520 --> 0:03:06.440 And children killed or displaced, and despite desperate need of water, food, 0:03:06.480 --> 0:03:07.119 and medicine. 0:03:09.200 --> 0:03:12.320 The President called the situation in Gnsen, Israel heartbreaking and 0:03:12.360 --> 0:03:14.680 said he's working around the clock to get more humanitarian 0:03:14.760 --> 0:03:17.080 aid into the region. Leading up to the president's speech, 0:03:17.200 --> 0:03:20.880 Glass Valedictorian D'Angelo Fletcher gave an impassioned call for peace. 0:03:21.520 --> 0:03:25.799 It is my stance as a more houseman, nay as 0:03:25.840 --> 0:03:30.239 a human being, so call for an immediate and the 0:03:30.360 --> 0:03:34.600 permanence cease fire and the gossips strip several students. 0:03:34.639 --> 0:03:37.760 At least two faculty members showed solidarity with the Palestinians 0:03:37.840 --> 0:03:41.119 during the ceremony. Recent polling shows significant numbers of young 0:03:41.200 --> 0:03:44.720 and black voters disapprove of President Biden's support for Israel 0:03:44.960 --> 0:03:46.160 and it's war with Hamas. 0:03:46.440 --> 0:03:48.560 Let's start to legal news here in the US, Karen, 0:03:48.600 --> 0:03:51.440 the criminal hush money trial of Donald Trump is coming 0:03:51.480 --> 0:03:54.600 to an end, perhaps as soon as this week. Bloomberg's 0:03:54.640 --> 0:03:56.080 Amy Morris reports. 0:03:56.120 --> 0:03:58.600 Former President Donald Trump will be back in court again 0:03:58.680 --> 0:04:01.360 today as his hush money tryle enters its final phase. 0:04:01.760 --> 0:04:04.880 Expect to see Michael Cohen, Trump's former attorney and former 0:04:04.960 --> 0:04:07.720 so called Fixer on the witness stand for more cross 0:04:07.760 --> 0:04:11.600 examination about alleged hush money payments. The judges told defense 0:04:11.680 --> 0:04:14.760 lawyers and prosecutors be ready for closing arguments as soon 0:04:14.800 --> 0:04:17.200 as Tuesday, and he told the jury to be prepared 0:04:17.240 --> 0:04:20.200 for a session on Wednesday, which is normally their day off. 0:04:20.600 --> 0:04:23.160 All of that depends on whether Trump testifies, and we 0:04:23.200 --> 0:04:26.239 could find that out today. If Trump does take the stand, 0:04:26.279 --> 0:04:28.080 it could delay the close of the trial by a 0:04:28.120 --> 0:04:30.720 few days. The jury is expected to get the case 0:04:30.760 --> 0:04:33.480 sometime this week. Amy Moore as Bloomberg Radio. 0:04:33.320 --> 0:04:34.680 All right, anim thank you. 0:04:34.760 --> 0:04:35.120 Meantime. 0:04:35.160 --> 0:04:38.320 Testimony resumes today in another high profile case in New York, 0:04:38.360 --> 0:04:41.800 the fraud and Manipulation of the Market trial of Bill Wong. 0:04:41.920 --> 0:04:43.920 For more on that, let's bring in Bloomberg's John Tucker. 0:04:44.040 --> 0:04:46.840 John and Nathan Jurisai. At Bill Wong's trial have already 0:04:46.920 --> 0:04:50.520 heard witnesses say that his Ourkeygo's Capital Management lie to 0:04:50.760 --> 0:04:53.880 its Wall Street counterparties. This week, they're going to hear 0:04:53.920 --> 0:04:56.920 from one of the main liars, Scott Becker, the Arkeigo's 0:04:57.000 --> 0:04:59.719 former risk officer, so expected to take this stand as 0:04:59.760 --> 0:05:03.160 zero today is one of the prosecution's star witnesses he 0:05:03.320 --> 0:05:05.480 was a key to Ourke goos contact for the banks, 0:05:05.760 --> 0:05:08.800 and the jury has been played recording conversations in which 0:05:08.920 --> 0:05:12.720 he reassures them Wang's family office is fine even as 0:05:12.800 --> 0:05:15.880 it's collapsing. Becker has already pleaded guilty. He's going to 0:05:15.960 --> 0:05:18.920 testify as a cooperating witness. He's expected to say that 0:05:19.000 --> 0:05:21.280 he was directed by Wang to lie to the banks, 0:05:21.600 --> 0:05:25.640 which ultimately lost ten billion dollars trading with our keigos. 0:05:25.920 --> 0:05:27.440 John Tucker, Bloomberg. 0:05:27.080 --> 0:05:29.320 Radio, All right, John, thank you. Turning to the markets. 0:05:29.360 --> 0:05:32.160 Earning season winding down, but we'll be getting reports from 0:05:32.160 --> 0:05:34.760 a number of high profile technology companies this week. We 0:05:34.839 --> 0:05:36.880 get a preview from Bloomberg's Charlie Pellett. 0:05:37.200 --> 0:05:40.000 The week's big earnings event comes Wednesday after the bell, 0:05:40.120 --> 0:05:42.760 when we hear from chip maker and Nvidia. Upbeat first 0:05:42.839 --> 0:05:46.120 quarter results of pushed Wall Street to boost profit projections 0:05:46.360 --> 0:05:50.000 for the three months through June. Katrina Dudley is portfolio 0:05:50.080 --> 0:05:52.360 manager at Franklin Templeton Investments. 0:05:52.560 --> 0:05:55.360 If we look at what's happened during this recent earning season, 0:05:55.440 --> 0:05:58.320 you're really seeing that in the stalk reactions, we're seeing 0:05:58.600 --> 0:06:02.800 your disproportionate moves down when companies are not meeting earnings expectations, 0:06:03.000 --> 0:06:04.880 and slightly Betam moves up when they are. 0:06:05.080 --> 0:06:07.720 Among the other tech names this week, Analog Devices and 0:06:07.800 --> 0:06:13.400 Palo Alto Networks. Also reporting this week, retailers including Macy's, Target, TJX, 0:06:13.520 --> 0:06:16.920 and Low's in New York Charlie Pellet Bloomberg Radio. 0:06:16.960 --> 0:06:19.000 All right, Charlie, thank you well. One of Wall Street's 0:06:19.040 --> 0:06:22.920 most prominent bears has just turned positive on stocks, Morgan 0:06:23.000 --> 0:06:26.359 Stanley's Michael Wilson. He now sees the SMP five hundred 0:06:26.480 --> 0:06:29.080 rising two percent by June of next year. That is 0:06:29.160 --> 0:06:31.640 a major about turn from his view that the benchmark 0:06:31.680 --> 0:06:36.359 would tumble fifteen percent by this December. The strategist who's 0:06:36.480 --> 0:06:39.600 bearish twenty twenty three outlook failed to materialize as markets 0:06:39.640 --> 0:06:42.600 kept rallying, finally gave in. Mike Wilson is boosting his 0:06:42.720 --> 0:06:45.480 target for the SMP five hundred two fifty four hundred 0:06:45.480 --> 0:06:47.240 points from forty five hundred. 0:06:47.720 --> 0:06:51.080 And Nathan Xander Schaffley captured his first major victory at 0:06:51.080 --> 0:06:53.960 the PGA Championship at the Valhalla Golf Club with a 0:06:54.200 --> 0:06:58.000 twenty one under performance. We'll have full details in three 0:06:58.080 --> 0:07:03.320 minutes in sports Time Now for a look at some 0:07:03.360 --> 0:07:05.120 of the other stories making news in New York and 0:07:05.240 --> 0:07:07.760 around the world. For that were joined by Bloombergs Michael 0:07:07.839 --> 0:07:08.760 Barr Michael, good. 0:07:08.720 --> 0:07:11.360 Morning, Good morning, Karen. It has been nearly two months 0:07:11.440 --> 0:07:15.000 since the Dalai cargo ship collided with the Francis Scott 0:07:15.080 --> 0:07:18.720 Key Bridge in Baltimore. This morning, the vessel is sent 0:07:18.800 --> 0:07:21.280 to head back to port. The ship is set to 0:07:21.320 --> 0:07:24.280 be refloated and moved about two and a half miles 0:07:24.360 --> 0:07:27.880 up river to the Baltimore Marine Terminal. Last week, a 0:07:27.960 --> 0:07:31.480 series of controlled explosions broke up pieces of the bridge 0:07:31.520 --> 0:07:34.560 that were pinning the ship down. The ship's crew of 0:07:34.640 --> 0:07:38.240 twenty one people have remained on board since the crash 0:07:38.520 --> 0:07:42.040 that killed six construction workers on the bridge. In Ohio, 0:07:42.240 --> 0:07:46.280 a Hamilton County judge could rule today on the constitutionality 0:07:46.680 --> 0:07:50.880 of one of the nation's strictest abortion bands. Last November, 0:07:51.040 --> 0:07:55.040 Ohio voters chose to enshrine the constitutional right to make 0:07:55.320 --> 0:07:59.600 and carry out one's own reproductive decisions. It prohibits an 0:07:59.600 --> 0:08:03.160 abortion bad in the state after an ultrasound can detect 0:08:03.280 --> 0:08:06.480 a fetal heartbeat, which can be as early as six 0:08:06.600 --> 0:08:10.320 weeks before most people know they're pregnant. Loyola Law professor 0:08:10.400 --> 0:08:13.040 and former federal prosecutor Lori Levinson. 0:08:13.360 --> 0:08:16.480 This particular case is so important because it is as 0:08:16.720 --> 0:08:20.800 likely to decide that when voters decide to put into 0:08:20.880 --> 0:08:23.880 a state constitution, that there's a right to an abortion. 0:08:24.640 --> 0:08:28.480 Old laws are now unconstitutional. 0:08:27.680 --> 0:08:32.319 Former federal prosecutor Lori Levinson. Taiwan's new president Li ching 0:08:32.400 --> 0:08:36.800 t is in inaugurations, and his speech is in urging 0:08:36.960 --> 0:08:41.120 China to stop its military intimidation against the self governed 0:08:41.200 --> 0:08:45.200 island Beijing claims as its own territory. Lai was sworn 0:08:45.280 --> 0:08:48.280 into office in a ceremony today after he won an 0:08:48.320 --> 0:08:52.520 election earlier this year. A Senate bill setting federal standards 0:08:52.559 --> 0:08:56.120 for rechargeable lithium ion batteries and e bikes and scooters 0:08:56.480 --> 0:08:59.679 is set to become law. The House overwhelmingly passed the 0:08:59.720 --> 0:09:03.559 measure last week. Spearheading the effort New York Fire Commissioner 0:09:03.800 --> 0:09:06.960 Laura Kevanaugh, who says she had to take the issue 0:09:07.040 --> 0:09:10.280 national because of the volume of these dangerous batteries. 0:09:10.920 --> 0:09:13.079 They come in in the tens of thousands in through 0:09:13.080 --> 0:09:15.920 the ports, and then we have to go confiscate them 0:09:15.960 --> 0:09:17.880 one by one. You really just can't keep up if 0:09:17.920 --> 0:09:20.320 you're doing that, and so we knew that we had 0:09:20.360 --> 0:09:23.160 to go to the federal government to stop that influx 0:09:23.240 --> 0:09:24.120 of the bad batteries. 0:09:24.559 --> 0:09:27.040 Senate Majority Leader Chuck Schumer of New York is a 0:09:27.080 --> 0:09:30.200 co sponsor of the bill. Global news twenty four hours 0:09:30.240 --> 0:09:32.600 a day and whenever you want it with the Bloomberg 0:09:32.640 --> 0:09:35.520 News Now. I'm Michael Barr, and this is Bloomberg Karen. 0:09:35.760 --> 0:09:42.800 Sorry, Michael Barr, thank you time now for the Bloomberg 0:09:42.840 --> 0:09:44.559 Sports Update with John Stashaur. 0:09:44.640 --> 0:09:46.720 John, Good morning, Good morning, Karen. It was the first 0:09:46.800 --> 0:09:48.760 home game seven for the Nix since the loss to 0:09:48.840 --> 0:09:51.800 Indiana back in nineteen ninety five. That was by two points. 0:09:51.840 --> 0:09:54.360 This loss by twenty one at the Guard, and the 0:09:54.400 --> 0:09:56.920 Pacers were hitting their shots all day. They finished shooting 0:09:57.000 --> 0:10:00.079 sixty seven percent. They were above eighty for most the 0:10:00.120 --> 0:10:03.000 first half. Knicks at one point did trim a twenty 0:10:03.080 --> 0:10:05.640 two point deposit to six, but they got no closer. 0:10:05.440 --> 0:10:06.959 Lost one thirty to one oh nine. 0:10:07.000 --> 0:10:09.679 Indiana seated only six in the East, but they were 0:10:09.760 --> 0:10:12.520 the sixth highest scoring team in NBA history in the 0:10:12.559 --> 0:10:15.480 regular season. They'll a plight Boston. Now in the East Finals, 0:10:15.520 --> 0:10:17.679 the Knicks blue series leads of two to nothing than 0:10:17.760 --> 0:10:20.439 three to two. Injuries seemed to catch up with them. 0:10:20.679 --> 0:10:23.319 O g Ananobi's returns from the hamstring injury lasted only 0:10:23.440 --> 0:10:26.199 four minutes in the second half. Jalen Brunson broke his 0:10:26.320 --> 0:10:28.640 hand also in Game seven. In the West, Minnesota came 0:10:28.679 --> 0:10:31.000 from twenty down to the second half, and one in 0:10:31.160 --> 0:10:33.760 Denver ninety eight to ninety The Timberwolves will played Dallas 0:10:34.240 --> 0:10:37.520 in the West Finals at Valhalla, the first PGA Championships 0:10:37.520 --> 0:10:40.040 since two thousand and five that was decided by a 0:10:40.120 --> 0:10:42.640 birdie making punt on the seventy second. 0:10:42.440 --> 0:10:47.560 Hold softly before the wind putterback ball up to the cup, 0:10:48.040 --> 0:10:52.439 curls around and drops to the bottom, hands raised in victory. 0:10:53.040 --> 0:10:57.240 Xander Softley, the winner of the hundred and sixth Pgaight Championship, 0:10:57.360 --> 0:11:01.080 sets a major championship scoring I've heard of two sixty 0:11:01.160 --> 0:11:05.079 three and twenty one under part in Louisville. The x 0:11:05.200 --> 0:11:07.720 man chriss is the finish line first left. 0:11:07.679 --> 0:11:09.280 One call heard here on Bloomberg Radio. 0:11:09.320 --> 0:11:11.760 Shopley started with that opening round sixty two and at 0:11:11.840 --> 0:11:15.000 the end held Bob Brice and Deshambo. Shoffley's first major 0:11:15.080 --> 0:11:18.360 title comes after finishing the top ten twelve times. And 0:11:18.440 --> 0:11:21.160 there's Nelly Cordosh. She won the LPGA in Jersey City. 0:11:21.240 --> 0:11:23.880 She's won six of her last seven tournaments. Yankees have 0:11:23.960 --> 0:11:25.559 won seven in a row. Over the last six, They've 0:11:25.559 --> 0:11:28.079 only allowed six runs this time. Carlos Bedon seven to 0:11:28.120 --> 0:11:30.800 two over the White Sox. Met Salva was won in Miami, 0:11:30.880 --> 0:11:33.200 winning seven to three. Hall of Famer Jim Otto has 0:11:33.240 --> 0:11:35.600 died at eighty six. He was the center on those 0:11:35.640 --> 0:11:39.280 great Open Raider teams. John Stashedwart Bloomberg Sports, Karen Deacon. 0:11:41.440 --> 0:11:45.480 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:45.679 --> 0:11:46.320 and around the. 0:11:46.360 --> 0:11:49.840 World on Bloomberg dot Com and the Bloomberg Business app. 0:11:50.080 --> 0:11:51.920 This is Bloomberg Daybreak. 0:11:52.600 --> 0:11:55.240 Good morning on Nathan Hager. We continue to track developments 0:11:55.280 --> 0:11:58.040 in the Middle East following the death of Iranian President 0:11:58.120 --> 0:12:02.160 Ibrahim Marisi and governed other government officials in a helicopter 0:12:02.280 --> 0:12:05.439 crash in the mountains of northwest Iran. For more, we 0:12:05.559 --> 0:12:08.000 are joined now by Bloomberg's Europe, Middle East and Africa 0:12:08.120 --> 0:12:12.160 News director Roslind Matheson. Roz, Good morning. First off, what 0:12:12.320 --> 0:12:15.040 do we know about the circumstances surrounding this crash. You 0:12:15.160 --> 0:12:17.240 understand there was dense fog at the time. 0:12:17.960 --> 0:12:21.480 Well, that's right, the crash happened in terrible weather conditions. 0:12:21.559 --> 0:12:25.240 There was very very strong fog. It's now also turned 0:12:25.280 --> 0:12:28.080 to snow and mud, which has made the rescue effort 0:12:28.120 --> 0:12:31.319 initially very difficult. It took the many hours just to 0:12:31.480 --> 0:12:34.320 reach the crash site. But it does seem like weather 0:12:34.440 --> 0:12:37.959 really played a part in this crash. And as we know, 0:12:38.160 --> 0:12:41.599 nine people were on the helicopter and were killed, including 0:12:42.480 --> 0:12:47.840 President Race, the Foreign Minister, some senior local officials, rac 0:12:48.040 --> 0:12:52.920 security chief, and also obviously the pilot and crew. And 0:12:53.040 --> 0:12:55.079 that that's now being confirmed. And in just in the 0:12:55.200 --> 0:12:58.240 last few minutes, we've had comments from the Supreme Leader 0:12:58.600 --> 0:13:03.440 Ayatala Hamani on X talking about his sorrow at the news. 0:13:03.960 --> 0:13:06.640 And so it does seem like this was just a 0:13:06.760 --> 0:13:10.319 terrible accident. There's no hint of foul play so far, 0:13:10.440 --> 0:13:13.920 although Israel did protectively come out and publicly say it 0:13:14.080 --> 0:13:17.280 had no hand in this, but no one's really suggesting that. 0:13:17.920 --> 0:13:18.280 For now. 0:13:18.400 --> 0:13:23.000 It does seem these were older helicopters, possibly not maintained properly, 0:13:23.640 --> 0:13:27.319 that might be an effective US sanctions also, But military 0:13:27.559 --> 0:13:30.720 choppers tend to be inherently dangerous. We know from history 0:13:30.760 --> 0:13:33.240 there have been numerous crashes in different parts of the 0:13:33.320 --> 0:13:37.480 world India, Pakistan, Kenya and others where senior military officials 0:13:37.520 --> 0:13:40.240 have been killed before. So you know, as a mode 0:13:40.280 --> 0:13:42.880 of transport, and if not maintained properly, you know, they 0:13:42.920 --> 0:13:44.320 can be inherently dangerous. 0:13:44.640 --> 0:13:47.080 All this does raise clear questions about what comes next 0:13:47.160 --> 0:13:49.920 in Iran following the president's death. I mean, he had 0:13:50.000 --> 0:13:53.240 been seen as a potential successor to the Supreme Leader, 0:13:53.280 --> 0:13:53.599 hadn't he. 0:13:54.240 --> 0:13:57.400 Well, that's right, He and Hameni's son were seen as 0:13:57.440 --> 0:14:00.760 the two most likely successes. So obviously that changes that 0:14:00.880 --> 0:14:04.520 equation and opens up real questions about longer term succession. 0:14:04.679 --> 0:14:08.760 I mean in the immediate term, his deputy, the first 0:14:08.880 --> 0:14:12.400 Vice President, is stepping in as president in an interim 0:14:12.760 --> 0:14:14.920 basis that st an election can be held, will likely 0:14:15.000 --> 0:14:18.320 be within fifty days. The question is who do their 0:14:18.360 --> 0:14:22.080 senior leadership see as their preferred candidate in that election, 0:14:22.200 --> 0:14:24.840 Because of course they are elections, but they're very very 0:14:24.920 --> 0:14:28.440 carefully managed in that process, and so it's really a 0:14:28.520 --> 0:14:31.320 factor of who do they want as their preferred candidate 0:14:31.720 --> 0:14:35.280 in that election do they allow as somewhat reformist candidate 0:14:35.360 --> 0:14:38.480 to run even as a tokeness gesture, Because of course 0:14:38.640 --> 0:14:41.560 turnat was very very low in twenty twenty one, so 0:14:41.680 --> 0:14:44.440 that one that higher this time around. But either way, 0:14:44.520 --> 0:14:46.840 the message will be very clear that they want continuity 0:14:46.880 --> 0:14:48.120 and they want retained control. 0:14:48.480 --> 0:14:51.040 And if we do see continuity, what could that mean 0:14:51.120 --> 0:14:53.560 potentially for the war in Gaza? What could it mean 0:14:53.640 --> 0:14:56.440 for relations with other neighbors in the region. 0:14:57.200 --> 0:14:59.520 Well, it's unlikely to affect the trajectory of the war 0:15:00.000 --> 0:15:03.360 between Israel and Hamas in Gaza. Of course, Iran is 0:15:03.360 --> 0:15:06.080 a strong backer of Hamas, but that seems to have 0:15:06.200 --> 0:15:09.640 its own trajectory, and Iran's relationships with its various proxies 0:15:09.720 --> 0:15:13.640 be It Hamas, Hesblah and the Huthis in Yemen is 0:15:13.720 --> 0:15:16.160 unlikely to be unchanged because they were managed by the 0:15:16.200 --> 0:15:21.080 military and not by Rayci himself or that side of things. 0:15:21.480 --> 0:15:23.800 It'll be interesting though to see if anything changes in 0:15:23.840 --> 0:15:27.160 the relationship, particularly with Saudi Arabia. Of course, we had 0:15:27.240 --> 0:15:30.960 that moved towards the restoration of ties last year. It's 0:15:31.000 --> 0:15:33.960 been a little bit bumpy, but least an effort to 0:15:34.080 --> 0:15:37.720 develop some kind of proper relationship between Saudi Arabia and Iran, 0:15:38.120 --> 0:15:40.040 and that's the one that's going to bear watching because, 0:15:40.080 --> 0:15:42.720 of course, at the moment, we're also aware of issues 0:15:42.760 --> 0:15:46.240 in Saudi Arabia with the king's healthfare his elderly and 0:15:46.320 --> 0:15:49.880 it seems an increasingly declining health, and that then raises 0:15:49.920 --> 0:15:53.200 the question of whether the Crown Prince formally takes over 0:15:53.720 --> 0:15:56.520 at some point, so you could have changes in both 0:15:56.680 --> 0:16:00.240 Iran and Saudi Arabia in quick succession, and that could 0:16:00.360 --> 0:16:03.440 raise questions about the future trajectory of that relationship. 0:16:03.600 --> 0:16:06.600 This is Bloomberg Daybreak Today, your morning brief on the 0:16:06.680 --> 0:16:10.040 stories making news from Wall Street to Washington and beyond. 0:16:10.360 --> 0:16:13.080 Look for us on your podcast feed at six am 0:16:13.200 --> 0:16:16.840 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:16.960 --> 0:16:17.920 get your podcasts. 0:16:18.240 --> 0:16:20.920 You can also listen live each morning starting at five 0:16:20.960 --> 0:16:23.560 am Wall Street time on Bloomberg eleven three to zero 0:16:23.640 --> 0:16:26.400 in New York, Bloomberg ninety nine to one in Washington, 0:16:26.560 --> 0:16:29.440 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:29.520 --> 0:16:31.160 ninety sixty in San Francisco. 0:16:31.600 --> 0:16:34.680 Our flagship New York station, is also available on your 0:16:34.800 --> 0:16:40.160 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:40.240 --> 0:16:43.680 Listen coast to coast on the Bloomberg Business app, SERRIUSXM, 0:16:43.800 --> 0:16:47.360 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan 0:16:47.400 --> 0:16:48.960 Hager and I'm Karen Moscow. 0:16:49.200 --> 0:16:51.920 Join us again tomorrow morning for all the news you 0:16:52.080 --> 0:16:55.240 need to start your day right here on Bloomberg Daybreak