Trump: No Truce Extension for Iran; Apple Announces New CEO

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.
The ceasefire between the US and Iran is set to
run out tomorrow night, and President Trump is signaling he
is not willing to extend it if the two sides
can't reach a deal to end their war. President Trump
spoke to Bloomberg White House correspondent Jeff Mason ahead of
a second round of negotiations with Tehran.
He's not ready to just agree to any deal, and
he's not willing right now to give additional breathing room
other than saying that the ceasefire expires on Wednesday night,
Washington time, which is actually a day later than most
people assumed.
Bloomberg's Jeff Mason reports Vice President Jade Vance is still
expected to head to Islamabad later today to lead the
second round of talks either tonight or tomorrow, but Bloomberg
Jumana Barsecci reports it's not clear who Vance's team will
be talking to.
We still don't know who exactly from the Iranian side
is going to be participating, if indeed they will be
participating at all. There have been numerous posts various comments
coming through from officials and Iranian leading negotiators, including the
Speaker of the Parliament, Mohammed Galibav himself, who said Trump
seeks to turn negotiating table into surrender. We do not
accept negotiations under the shadow of threats and have prepared
new cards for the battlefield. This is echoed also by
Iran's ambassadors to Pakistan saying that they will not negotiate
under threat.
Bloombergs Jowana Barsecci reports from Dubai that Iranian officials have
not explicitly ruled out taking part in talks, but Iran
state run television is denying unspecified media reports that a
delegation has departed for or arrived in Pakistan for the
negotiations Well Nathan.
Another developing story that we're following involves a changing of
leadership at one of the world's biggest companies. After fifteen
years as CEO of Apple, longtime leader Tim Cook is
being replaced by John Turnis in September. Cook will shift
to the role of executive chairman, and Turnis has been
the head of hardware engineering since twenty twenty one.
Mark German covers Apple for Bloomberg.
Clearly, Turnis has been the guy for a while now.
Obviously he oversaw the MacBook Neo announcement at the beginning
of March. They have been preparing him for this role
for several months. Tim Cook asked him to take on
responsibility over Apple's software and hardware design teams at the
end of last year. If you look at Apple's executive team,
Turnis fifty years old, fifteen years younger than Tim, the
youngest member of the executive team by far, so they
really had no other options. At the same time, Apple
has been looking for a product focused leader, and Turnis
has prepared for that.
And Bloomber's Mark German says the announcement comes just weeks
after the company's fiftieth anniversary celebration, and shares of Apple
they're down sixtensive up percent this morning.
Well, Karen, another tech giant, Amon is doubling down on
artificial intelligence. The company's investing in additional five billion dollars
in Ententropic and may inject twenty billion more over time,
Amazon was already one of Anthropic's biggest backers, with prior
investments totaling eight billion dollars. Anthropic makes the Claud chatbot
and coding tool. It plans to spend more than one
hundred billion dollars over the next ten years on Amazon's
cloud technologies and chips and checking shares of Amazon in
the pre market, they are hired by almost three percent, Nathan.
Amazon founder Jeff Bezos is close to finalizing a ten
billion dollar funding round for his AI startup that's developing
models with the capability of understanding the physical world. The
Financial Times reports the fresh funding values the company, code
named Project Prometheus, at thirty eight billion dollars.
Paper says JP Morgan and Blackrock are among the investors
in the new round.
Some more tech news this morning, The Information is reporting
that Elon Musk increased his stake in SpaceX last year
by buying one point four billion dollars of stock from
current and former employees.
The report says a.
Confidential IPO prospectus also reveals a plan to award Musk
tens of millions of shares if SpaceX's market cap increases
by trillions of dollars.
Nathan, Let's turn to the economy.
Donald Trump's pick to be the next leader of the
Federal Reserve may get a grilling. Kevin Worsh's hearing before
the Senate Banking Committee takes place in Washington later today.
I'm Bloomberg's Michael McKee has a preview.
The president's FED nominee has made it clear he wants
to make big changes at the Central Bank. Today's hearing
is his chance to explain how big and how fast
he hopes to move. The most important question, who does
Kevin Worsh think he's working for? How strong will Worsh
be in defending FED independence under a president who thinks
he should be dictating monetary policy. So, if Walsh thinks
the FED should be cutting interest rates, when does he
think that should happen and by how much does it
make sense while inflation is rising? Walsh also wants a
smaller balance sheet. How does he get there? Does the
FED sell its mortgage bond holdings? He also wants to
reform FED communications, bank regulation and even the way the
Central Bank conducts policy operations. A lot to talk about,
Michael McKee, Bloomberg Radio.
All right, Michael, thank you, and stay with Bloomberg for
a live coverage of Kevin Worsh's confirmation hearing.
It gets underway at ten am Wall Street Time.
Karen Wells Fargo CEO Charlie Sharf says allowing the FED
to operate without political interference is a vital part of
the financial system. Sharf spoke with Bloomberg'sdavid Rubinstein at the
Economic Club of Washington.
The independence of the FED is critically important, not just
here in the US, but in other parts of the country.
I mean, and when you think about just the way
our governing system works, you know, it's different than a
place like China, where there's long term management, long term goals,
high coordination across all the different areas of government. You know,
here we have, you know, a political infrastructure that turns over,
which has points of views.
And you can watch more of David Rubinstein's interview with
Wells Fargo's CEO Charlie Scharff on The David Rubinstein Show
Peer to Peer Conversations April twenty ninth, at nine pm
Eastern on Bloomberg Television.
In political news, Nathan, Virginia voters are heading to the
polls in a statewide special election, and while there are
no candidates on the ballot, the contest could help decide
control of the House of Representatives this fall. Bloomberg's Amy
Morris explains from Washington.
The question on the ballot will amend Virginia's constitution, giving
the Democratic majority General Assembly temporary power to redraw congressional
districts until October twenty thirty. After that, the authority reverts
to the state's non partisan Redistricting Commission. Now, if the
plan passed by the legislature in February is enacted, Democrats
could gain the upper hand in ten Virginia districts. The
new boundaries would also be in place in time for
this November's mid term congressional elections in Washington. Amy Morris
Blasloomberg Radio.
All right, Amy, thank you for speaking of the midterms.
President Trump and Republicans have amassed a billion dollar cash
piled in their bid to hold on to congress. Campaign
finance disclosures show the President's super pac, MAGA Inc. Raised
thirty five point six million dollars last month. Longtime GOP
donor Diane Hendricks donated most of that total twenty five million.
So far, MAGA Inc. Has not spent much of its stockpile.
It injected one point seven million dollars into a special
Tennessee House race last year, and spent just seventeen nine
hundred dollars this year on Clay Fuller's bid for Marjorie
Taylor Green's vacant seat in Georgia.
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 Michael Barr.
Michael, good morning, Good morning, Karen. Let's hope you didn't
put your winter code away. It is a chili spring morning.
Bloomberg Media religist Craig Allen has more quite a chill
out there this morning. Just think it was only a
week ago that the theater was soaring through the eighties
to record highs around ninety This morning, it is forty
to sixty degrees colder up and down ninety five from
Virginia to New England and west into the Ohio Valley.
Alerts for late season frost or freeze will continue through
this morning. A freeze warning is in effect for about
a dozen states. It includes d C, Baltimore, Philly all
the way up through New York City. Fortunately, though I
can say that this cold air mass will begin to
modify starting this afternoon and lasting through the rest of
the week. Bloomberg Media Religius Craig Allen, we're learning of
a close call at Nashville International Airport last weekend. The
incident involved two Southwest Airlines flights late Saturday afternoon, after
air traffic control caused confusion. Southwest flight five oh seven
was preparing to land just as Southwest flight eleven fifty
two was taking off. While on approach, flight five oh
seven executed a precautionary go around because of the gusty winds,
and that's when the other Southwest flight on for Knoxville
was gaining altitude and now in the path of the
other jet. Anti collision alarms were going off in both
cockpits as the planes were moments away from a catastrophic
midair collision. Louisiana First Letty's Sharon Landry's Foundation is paying
the funeral expenses of the eight children fatally shot over
the weekend. Shreveport police said the suspect was the father
of seven of the children. Two women were also shot
and wounded. Louisiana Governor Jeff Landry says that he and
the First Lady understand that money does not.
Heal what we can lean on is that this active
charity can stand as a beacon of faith and belief
that good things still happen in this world.
Authority said. The suspect was fatally shot by police after
a chase. Global News twenty four hours a day and
whenever you want it with the Bloomberg News. Now now,
Michael Varren, this is Bloomberg carent Well.
Thanks Michael.
A time now for our Bloomberg Sports update, and for
that we bring in Johnston Show.
Thanks Darren. A trio of NBA playoff beam choosed. Cleveland
beat Toronto for a two to nothing series lead. Atlanta
came from fourteen down to beat the Knicks in New York.
That series is tied to one, so are Minnesota and Denver.
The Timberwolves beat the Nuggets double overtime. In the Stanley
Cup playoffs, Carolina topp to Ottawa, a two nothing leads
in the series for the Hurricanes. Philadelphia shut out Pittsburgh.
The Flyers go up to ZIP. Dallas beat Minnesota, that
series title one, and Edmonton one game one from Anaheim.
That's your 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,
and around the world on Bloomberg dot Com and the
Bloomberg Business Oppum. This is Bloomberg Daybreak.
Good morning. I'm Nathan Hager.
With the clock ticking on a ceasefire between the US
and iron President Donald Trump is suggesting he is not
likely to extend it if he does not get a
deal to end the war this week. White House Press
Secretary Caroline Levitt says Tehran should take the President at
his word.
President Trump has proven before he does not bluff. When
he makes a promise, he follows through on it.
That was White House spokesman Caroline Levitt speaking on Fox
News joining us from Dubai this morning, as Bloomberg Middle
East correspondent Jumana Burcecci, the anchor of Bloomberg Horizons.
Jumana, good morning. Where do things stand now?
What is the possibility that we will indeed see talks
this week?
Yeah? Well, I will tell you that Islamabad have made
plenty of preparations in anticipation of these talks. Hearing of
thousands of security officials that have been deployed the parts
of the time of the city are in lockdown. So
there's really a lot of excitement or anticipation at least
coming through from Pakistan that the talks are going to happen,
And we understand that the US are still planning on
setting their delegation, though jade Evans has not departed yet,
and so you've got to consider at this point in time,
given where we are in the day, that if the
talks do go ahead, they probably won't happen until tomorrow,
which is perhaps one of the reasons why President Trump
told our correspondent Jeff Mason overnight that he was pushing
back the seas fire timeline by one day to the
end of Wednesday, was supposed to expire today.
Now, all of that is fine.
But we have not yet heard official commentary from the
Iranian delegation. We don't actually know who is heading there
from Iran and whether it's going to be as big
a delegation as we got for the first round of
Islamabad talks. And certainly a lot of the language that
has come through from Iran overnight suggests that they are
unhappy with the status COO and the fact that the
US have implemented their naval boockade, with many of the
key voices there, including the Speaker of the Parliament, brahammad Galibav, saying,
we do not accept negotiations under the shadow of threats.
So we'll see.
Whether actually this resonates with Trump and whether you know,
at some point he may need to make a decision
whether to lift that naval blockade in the interest of
pushing forward the discussions or calling their bluff and seeing
whether they show up anyway, Do we have.
A sense to Chumana of which side might be winning
out in Iran?
Right now?
We've heard from the President saying that the people that
the US is talking to on the Iranian side are
much more reasonable than in the prior regime.
He's talked about regime change.
Where do things stand as far as who's winning out
potentially in Iran in these potential discussions.
Yeah, So you raise a valid point, because I think
there's been a lot of media reporting the last couple
of days, and even from some of the state media
as well. Sort of they had to come forward today
reiterating that there's max cohesion amongst the leadership in Iran,
and the reason that they said that is because there
have been a lot of reports suggesting a split internally
between the more pragmatic voices and those voices were represented
by the Iranian delegation that were part to depending the
first round of talks, including the Speaker of the Parliament
that I spoke about, the President himself, mister Presiscan, even
the Rergnian Foreign Minister abus Ire actually seem to be
of the sort that want to make a deal, are
inclined to continue with the negotiations with the US because
they perceive the economics it costs to be too high
if the war continues. Now, on the other hand, you've
got the hardliners, the more conservative group, You've got the IRGC,
You've got the commanders in the army who feel that
they have the ability to drag this war longer and
inflict more costs, not just on Gulf nations, but also
on the global economy the longer it drags out. And remember,
for them, the key here is survival. It was about
it was always about an existential question of can they
get to the other side of this still intact and
they feel at least that they still have the ability
to continue even once this war is resolved. And so
right now it's sort of a standoff between you know,
the hardliners and Iran that don't have a much longer
time frame than the more pragmatic side of the equation,
the leadership there, and of course President Trump himself, who's
operating on a much shorter timeframe and appears to be
impatience and wanting to get a deal across the line asap.
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Atto interfaces.
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you wanted. In five minutes or less,
search Bloomberg News Now on your favorite podcast platform to
stay informed all day long.
I'm Karen Moscow.
And I'm Nathan Hager.
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg DA
Bray