US, Iran Argue Over Terms; Airline Fares Surge in Europe & Asia

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 on the war with Iran.
There is little let up to strikes between Iran and Israel,
even as President Trump says talks to end the war
are ongoing.
We settled eight wars, people so to forget, and we're
winning another one. I tell you, We're winning so big.
Nobody has ever seen anything like we're doing in the
Middle East with Iran, and they are negotiating, by the way.
The President spoke at a meeting last night with Congressional Republicans,
but the Iranians are not confirming that. As we hear
from Bloomberg'sjumana Bersecchi in.
Dubai, there has been no signing on to direct negotiations
and even indirect negotiations. As of now, a meeting or
a potential summit between the two sides has not been confirmed.
There are plenty of reports earlier in the world Week
suggesting that maybe Pakistan would be looking to host something
along those lines, but that is not being confirmed either
by the White House nor by Iran, and the messaging
from Iran that has come through over the last twenty
four hours is that they remains afiance and they are
not in the mood to compromise.
Bloomberg's John Everssetti reports Iran is laying out its own demands,
according to state run Press TV. They include guarantees against
future attacks, payments for war damages, and recognition of Iran's
authority over the Strait of Horror moves. CNN is reporting
that Vice President jd Vance could head to Pakistan this
weekend for talks, but the White House says it's a
fluid situation.
Well.
Nathan oil on the rise once again. Right now, nimexcrude
oil is up more than three and a half percent
and ninety three dollars fifty six cents a barrel. Brent
is up more than three percent at one hundred and
five dollars sixty seven cents, and Bloomberg Strategic Energy Team
BNEF says the price of a Brent crewed could top
one hundred and fifty four dollars a barrel if the
Straight of Worror moves remains closed until mid June. David Ehrensberger,
as the President of Global Energy at SMP.
He says things could get worse from here.
The markets that consume this energy, who depend on the
Strait to be open, they're only feeling the late arrivals
or the no arrivals of the energy that should be
coming their way right about now, and that's going to
build up over the next five or ten days. In
a sense, the pipeline that's on the water from the
Middle East of the world is going to start running empty.
Nsmp's David Ernsberger. Oil prices have jumped since the start
of the war. Brncrude is up almost forty percent, while
West Texas Intermediate has risen about thirty percent, and.
As oil rises, karen get ready to pay more for
airline fares. Tickets on major routes connecting Asia and Europe
have surged up to five hundred and sixty percent this
month and are likely to stay elevated through the summer
and into fall. Demand is already starting to soften due
to travel uncertainty and higher fares. Syrium says summer bookings
from Europe to the US are down fifteen percent from
a year earlier, while traffic in the opposite directions fallen
ill eleven percent well Nathan.
The US Postal Service plans to raise prices to offset
rising transportation expenses, including the.
Cost of fuel.
The USPS will increase prices by eight percent on some packages,
including priority mail and parcels select offerings until mid January
of next year.
And after a delay due to the war with Iron Karen.
President Trump is set to hold his summit with Chinese
leader shi Jinping in Beijing on May.
Fourteenth and fifteenth.
We get more from Bloomberg Zamie Morris in Washington.
President Trump will meet with Shi Jinping on May fourteenth
and fifteenth in Beijing, and White House Press Secretary Caroline
Lovit announced she will also visit Washington.
First Lady Milania and President Trump will also host President
she and Madam Ping for a reciprocal visit in Washington,
d C.
At a later date to be announced. This year, the
rescheduled meeting in China will pose a fresh test of
how comfortable President Trump and Hijinping are with the status
quo on trade, US support for Taiwan, and the fallout
for the US strikes on Iran that spurred a spike
in oil prices in Washington. Amy Moore as Bloomberg Radio.
Amy thank you. As the War with the Iron drags on,
so does the shutdown at the Department of Homeland Security
that's led to long lines at airport security. This morning,
Senate Republicans have rejected Democrats' the latest offer to end
the standoff over immigration enforcement. North Dakota Republican Kevin Kramer
says his side is getting frustrated.
I don't know how they can get a better deal.
We've given them a lot. Donald Trump has given them
a lot. It's clear that TSA agents should be being paid,
and there's absolutely no reason in the world for them
to be against this deal.
And that's Republican Senator Kevin Kramer. Democrats have not revealed
their latest demands, but in the past they've called for
enhanced training for ICE agents, body cameras, mass removal, and
judicial warrants sent a majority. Leader John Soon says he's
considering bringing in senators through the weekend or cutting back
the upcoming Eastern break to get the funding issue you resolved.
Well, let's get you the latest now, Karen. On that
deadly plane crash in New York Slaguardia Airport, all but
four of the passengers who were hurt in the collision
between the Air Canada Express plane and a fire truck
have now been released from the hospital. That plane for
Montreal was carrying seventy six people. The two pilots were killed.
Roughly forty others were treated at hospitals for injuries and.
The programming note, Nathan. Markets may close on Fridays, but
the world does not, and that's why we're bringing you
a new live radio and TV show, Bloomberg This Weekend
is looking beyond the daily headline, so the bigger themes
driving politics, business and culture. Joined David Gura, Christina Raffini,
and Lisa Matteo for smart conversations and in depth interviews
that helped make sense of the week that's been and
what comes next. Get Bloomberg This Weekend live Saturdays and
Sundays from seven am Eastern on Bloomberg Radio, TV and
the Bloomberg Business App. 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
Monica Rick Smonica good morning.
Hey, Good morning Karen. Former Venezuela and President Nicholas Maduro
will be back in court today in New York to
try to convince a federal judge to dismiss his Narco
terrorism case. His lawyer claims that the US government is
interfering and violating Maduro's constitutional right to defend himself. He's
been behind bars in Brooklyn and his wife as well
since getting captured by the US and Venezuela in January.
The Justice Department has settled a lawsuit with Michael Flynn
for one point two five million dollars. He was national
security advisor to President Trump during his first term and
pleaded guilty to line to the FBI during its Russia investigation.
Flynn was later pardoned and sued for malicious prosecution. New
York Congresswoman Alexandro Cassio Cortes and Vermont Senator Bernie Sanders
have unveiled new legislation aimed at pausing construction on new
data centers in the US until national safeguards are in place.
Artificial intelligence and robotics will impact our economy, our democracy,
our privacy rights, and even our very survival on this planet.
Data centers have faced a lot of backlash over fears
about rising electricity prices, and of course pollution, and a
jury has found Meta and Google libel for harming a
young user with products designed to be addictive. A twenty
year old was awarded six million dollars in damages yesterday
in Los Angeles, but Meta spokesperson Ashley Nicole Davis says
they plan to appeal. We respectfully disagree with the verdict
and will appeal.
Team mental health is profoundly complex and cannot be linked
to a single app.
This is the first of thousands of product liabil ill
liability lawsuits that could lead to more federal regulations. Global
News twenty four hours a day and whenever you want
it with Bloomberg News.
Now. I'm Monica Rix, and this is Bloomberg.
Thanks Monica.
Time now for our Bloomberg Sports update, and for that
we bring in John stash Hour.
Gals Garrett first baseball game of the season won by
the Yankees seven to nothing in San Francisco behind the
pitching of Max Freed. Eleven openers today, nine of them.
In the afternoon, NBA saw the Celtics and Oklahoma City's
twelve game winning streak, and in Denver's win over Dallas,
Jamal Murray scored fifty three points Dakola Jokic at twenty
three points, twenty one rebounds and nineteen assists. The NCAA
Tournament is back tonight. The doubleheader in San Jose starts
with Purdue against Texas, and it's Arizona and Arkansas. In Houston,
Nebraska plays Iowa and Houston plays Illinois. That's youa Bloomberg
Sports update.
Stay with us.
More from Bloomberg Daybreak 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 out.
This is Bloomberg Daybreak.
Good morning on Nathan Hager. On day twenty seven of
the war where Iran, the fighting continues, even as the
White House insists peace talks are under way. Press Secretary
Caroline Levitt says Ian window of opportunity is running out.
President Trump, that is not bluff and he is prepared
to unleash hell. Iran should not miscalculate again.
Press Secretary Caroline Lovit at the White House. We're joined
this morning once again from Dubai by Bloomberg Middle East
correspondent Jumana Perssecci, the anchor of Bloomberg horizons.
Jamana, Good morning.
There is some question, isn't there about whether talks are happening,
who's doing it, what the parameters are, what's our latest
sense of where things stand now?
Good morning, Yeah, the latest sense that we get is
there are not scheduled talks to happen in the next
few days. There had been many outlets reporting about the
possibility of an in person meeting taking place and as
I'm about are in Pakistan over the course of this weekend.
That is not being confirmed by the White House. It
has also not been confirmed by Iran, who have maintained
this very defiant stance and actually yesterday came out with
a statement on their own press TV suggesting that the
terms that the US had put forward to the war
were not acceptable to them, and in turn asking and
stipulating what they would need to see in order to
return back to the negotiating table. And some of those
terms are really maximalist. And here I'm talking about their
ability to retain sovereignty over ships and vessels passing through
the Strait of Hormos. They're asking the US for reparations
over war damage, and they're asking for guarantees that the
US will never attack Iran again, and so the two
starting points for any basis for diplomatic discussions is still
very very far apart, and there's a lot of skepticism
here that the two sides can actually come together in
the next few days to move forward with these discussions.
Might be less than the next few days might have
since President Trump set that five day window to avoid
going after Run's power supply that runs out tomorrow, doesn't it.
That's correct, and it really just raises the the possibility
of further military action. And we've been reporting over the
last couple of days that there are these marine expeditionary
units that are making their way over to the region.
Our understanding is that the first batch will arrive in
the coming days, and Iran have said that they're watching
the progress of the ground movements very very closely. Yesterday,
the Speaker of the Parliament, mister Galibov, who has been
very vocal on social media, warned that if the US
followed through on their plan to take over carg Island,
as has been reported by some outlets, then they would
not hold back and retaliating once again against civilian infrastructure
on any country in the Gulf that is seen to
be helping the United States. So the threats and the
rhetoric are still coming through, and as you say, we're
getting closer and closer to that five day deadline, which
coincides with roughly middle of the night and the Middle
East tomorrow.
Just thirty seconds left, youmana, But what's the risk at
this point of other Golf Arab states joining in the conflict.
Look, their resolve is hardening, but I think the bar
from military involvement is still very high from officials and
key officials that I've spoken to myself. Yes, they have
kicked out at a chase, they have closed down some
Iranian headquarters hospitals like in the calase of the UAE,
but the bar for them to actually join in on
military action I think is quite high. That being said,
there is a lot of reporting suggesting that they are
allowing the US to use some of their air bases,
like in the situation of Saudi Arabia.
This is Bloomberg day Break, your morning podcast on the
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