California Runoff and Other Primary Races; Iran Escalation

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 politics and a busy night of
primary elections from coast to coast. Let's start in California,
where a crowded race for governor is still being decided.
Right now, about half the votes are in and Republican
Steve Hilton is in the lead with twenty seven point
seven percent of the vote.
It looks very much as if Californias really will have
the chance to vote for change in November and take
and take our state and take our state in a
new direction.
Steve Hilton is a GOP strategist with President Trump's endorsement.
He's followed by a Democrat, Javier Bessera, in second with
twenty five point four percent. Billionaire Tom Steyer is third
with nineteen point six The top two vote getters will
face each other in the November general election under California's
jungle primary system.
And in the Los Angeles mayor's race and Nathan incumbent
Karen Bass has been forced into a runoff. According to
the Associated Press, she currently has thirty six percent of
the vote, short of the fifty percent of the vote
needed to win the election outright. Her challenger still has
not been decided, but right now Republican Spencer Pratt is
in the lead for second place with twenty nine point
one percent of the vote.
Obviously, I was.
Going to accept whatever Gods plan was tonight. I was
going to be happy if I wasn't moving forward, because
I would have known God didn't want me to be
the mayor. But now I feel very confident that I
am going to continue to work hard.
Spencer Pratt is a former reality TV star who's accused
Bass of letting last year's Los Angeles wildfires get out
of control and not doing enough to tackle homelessness. Running
behind Bass and Pratt was nith Yer Raman, a former
ally of the mayor and a progressive city council member
elected with Bard from the Democratic Socialist of America. Rumman
currently has twenty two percent of the vote.
That was also an important election night in New Jersey.
Karen in a House district that could be key for
Republicans holding their majority in November, with ninety percent of
votes counted. Former Navy helicopter pilot Rebecca Bennett is projected
to win the Democratic primary in the seventh Congressional district
with forty five and a half percent. Bloomberg's Tominette reports
this result is not a big surprise.
She had raised much more money than the rest of
the field. You know, the sort of the party establishment
had been sort of coalescing around her, and I think,
you know, as more and more money was drawn in,
you know, she established herself as the clear front runner.
Bloomberg's Tominette notes Bennett will go on to face Republican
incumbent Tom Kine Junior. He's been away from Capitol Hill
since March with an unexplained medical issue. He's missed more
than one hundred votes to.
Date, and the race for New Jersey Senate Nathan Justin
Murphy is the Republican winner with thirty three point three
percent of the vote. Murphy defeated a field of three
other candidates to in the GOP NOD.
He'll face a.
Democratic incumbent Corey Booker, who's running for a third full term.
And Alilia Mahia is the winner of the Democratic race
in the eleventh Congressional district seat left open by New
Jersey Governor Mikey Cheryl Mahea picked up eighty one and
a half percent of the vote.
With some other key races to watch, Karen, We're in Iowa,
where Democrats are looking to make in roads in the
race for Senate. State representative and former Paralympic athlete Josh
Turik beat state Senator Zach Walls sixty two point six
to thirty seven point four percent.
This campaign has been about fighting for the middle class,
working families, rural communities, small family farms, and working with
anyone to address rise and cost stagna incomes and out
of control corruption.
In DC, Democrat Josh Cherik will face Republican Ashley Hinson.
In November, she won her primary against former state Senator
Jim Carlin seventy four point two to twenty five point
nine percent. In the Iowa governor's race, President Trump's endorsement
was not enough to carry Congressman Randy Feenstreut to victory.
He lost narrowly to conservative Zach Lahan thirty seven point
eight to thirty seven percent. Lawn will face Democrat Rob
sand who ran unopposed in New Mexico.
Nathan. Democrat Deb Holland is a step closer to becoming
the nation's first Native American governor. The former Interior Secretary
won her primary against Sam Bregman seventy two point three
to twenty seven point seven percent, and Holland will face
Republican Gregory Hull in November. In Montana, Democrat Alani Bankhead
and Republican Kurt Almey won their Senate primaries. They could
face a tough challenge from independent Seth Boonar, the former
president of the University of Montana, raised more money than
all me and all five Democratic candidates combined. And in
South Dakota, incumbent Senator Mike Browns easily won the Republican
nomination for a fourth term. He'll face Democrat Julian Bodwin
and independent military veteran Bryan Banks, who some Democrats see
as the stronger opponent.
Well, it's turned from politics now to get the latest
developments in the war in Iran Karen. The US and
Iran have been exchanging strikes in their latest flare up
in this fragile ceasefire, the US attacked Iranian radar and
command and control sites, while Iran tried to target an
air base in retaliation. We get more from Bloomberg Middle
East Breaking News editor Patrick Sykes.
We saw the Iranians firing missiles and drones reportedly a
multiple Gulf countries. I think in particular Bahrain, and Bahrain
of course is particularly important as it's the home to
the US naval presence in the region. But now both
sides are kind of sticking to the line that the
ceasefire remains in place despite these increasingly frequent violations of it.
It does feel like they are becoming more frequent, and
with that, I think the question will be how far
they can extend this narrative that the ceasefire is still
in place.
Bloomberg's Patrick Sykes reports Kuwait is now saying in Irani
an attack on its international airport killed at least one
person and wounded as others. US and Iranian negotiators are
grappling with several critical questions, including freedom of navigation through
the strait of horror moves and the future of frozen
Iranian funds.
Meanwhile, Nathan, former Secretary of Stayed Mike Pompeio, conceded that
Iran still has bargaining power and negotiations with the United States.
He tells Bloomberg he expects the conflict to continue.
I think it is very likely that we will have
to go back at it and provide more weaponry to
the Israelis and fight alongside them to do more damage
to the Iranian regime, kinetic damage.
But I hope I'm wrong.
I hope in the end, the Ranian regime comes to
a fundamentally different decisions the Ranim people get control of
that nation. If that's the case, then the Iranian regime
should be the Ranian people could be welcomed back into
the world of civilized humanity.
Former Secretary of State Mike Prompeo made the comments in
an interview with Bloomberg's has Linda Amen during the Nomura
Investment Forum in Singapore, and for the full conversation, check
out our new video hub on the Bloomberg Business app.
Well, Karen, Global trade is and focus once again this morning.
The US is proposing a new tariff of at least
ten percent on imports from sixty trading partners. This follows
an investigation into how trade partners handle goods allegedly produced
by forced labor. The probes are one part of the
administration's effort to revive President Trump's tariffs after the Supreme
Court ruled many of them unconstitutional. We get more from
Bloomberg Senior US Government editor Derek Wallbank.
Donald Trump's administration had signaled very clearly when the US
Supreme Court rolled out the main thrust of his global
tariffs that they were going to try and rebuild the
tariff wall that has been a centerpiece of his foreign
economic policy. This is in line with set Bloomberg zeric.
Wallbank says the new tariffs won't go into effect immediately
and are subject to a public comment and review period.
In Washington, Nathan, following a backlash from lawmakers, Acting Attorney
General Tom Blanche says the Trump administration will drop plans
for a one point eight billion dollar fund to pay
victims of alleged government weaponization and Bloomberg's Amy Morris words
from Our Nation's Capital.
Blanche told lawmakers the anti weaponization fund plans are scrapped.
We're not moving forward with the fund.
You're right that there's a date that in the case
in the Eastersco Virginia in June, but we are not
moving forward with the fund period.
However, Blanche did say the Justice Department is not abandoning
an element of the settlement with the IRS, giving Trump
and his family immunity from tax audits. Blanche's comments came
during a House committee hearing in response to mounting pressure
from Republicans for reassurances that the Justice Department's plans were
off the table before they move forward with legislation that
funds immigration enforcement agencies in Washington. Amy Morris Bloomberg Radio.
Amy, thank you. Some big news in the news business
this morning. The turmoil at CBS News continues with a
star anchor forced out. Bloomberg's John Tucker joins us with
the details.
John and CBS has fired Scott Pelley Nathan. The move
comes after the longtime Sixty Minutes correspondent accused to editor
in chief Berry Wise of murdering program and question the
qualifications of his new boss, Nick Bilton. Attentions came to
a head anthro Pelly confronted Builton and an internal meeting
on Monday. The CBS News division has stumbled through one
issue after another since Weiss was named to lead the
enterprise last year. She replaced longtime CBS staffers and polled
a Sixty Minutes segment just before airing. The new management
has been accused of being too cozy with a Trump administration. A.
Pelly issued a statement after his firing in which he
says CBS owner Paramounts Guidance is quote apparently trying to
curry favor with the Trump administration end quote. Paramount is
currently seeking approval from the Trump Justice Department for its
acquisition of Warner Brothers Discovery. I'm John Tucker, Bloomberg Radio.
All right, John, thank you. Let's turn to the markets now,
and futures this morning are little changed. After another record
setting day on Wall Street, the S and P five
hundred is now gained for nine straight days. In company news,
Reuters is reporting SpaceX she's aiming to sell shares at
one hundred and thirty five dollars a piece for its
record breaking seventy five billion dollar IPO.
Dan Ives, global head of.
Technology research at Webbush Security, says investor interest in tech
is set to continue.
It's a tidal wave of vip as that are coming,
but they're all at the heart of the AI revolution,
and I think to some extent, when you look where
we are, we continue believe this AI party started nine pm.
It's about eleven thirty pm. Party goes to four am.
Wed Bush's Dan ives the deal involving Elon Musk's firm
would be the largest IPO on record, more than doubling
the twenty nine point four billion dollar raised by Saudi
A Ramco in twenty nineteen.
Chipstocks are going to remain and focus on Wall Street today.
Broadcom reports earnings after the close of today's trade. We
get a preview from Bloomberg's Tom Busby.
Expect Broadcon to post an earnings beat on solid revenue
from its XPU chips and continued strong demand for its
AI networking gear, and some long term agreements it has
with Google, Meta and Anthropic have given investors a better
outlook for the company's pipeline through twenty twenty seven and beyond.
Bloomberg consensus calls for a revenue of twenty two point
one three billion dollars and adjusted earnings per share of
two dollars and thirty nine cents. Tom Busby Bloomberg Radio.
All right, Tom, thank you. The rally and shares of
Marvel Technology continue this morning. They are up more than
twelve percent after searching thirty three percent yesterday. The games
were fueled by comments from Nvidia CEO Jensen Wong. He
predicted that the semiconductor and networking company would be the
next business to hit a one trillion dollar valuation.
Well, there's a very different stock story playing out overseas
this morning, Karen. Shares of Axodobell are plunging eighteen percent.
Nip On Paint Holdings and Sherwin Williams have ended their
effort to buy the Dutch paint maker. Axo will now
proceed with its planned merger with US firm ax Salta
coding Systems.
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. The Trump administration is
defending its plan to send Americans who may be or
infected with a Bola to a facility in Kenya, but
for now, that facility appears to be on hold after
it was blocked by a Kenyan court. Doctor memit Oz,
the head of Medicare and Medicaid Services, told reporters at
the White House Press briefing Tuesday that transporting them back
to the US would be too.
Far as a UK base there we have other people
who might be willing to welcome us, and we have
our German colleagues as well, So there's many places we
can send folks, but sending them across the world, especially
we're not sure what's going on with them is probably
not the wisest move.
Doctor oz As. The Congo has now recorded three hundred
and forty four confirmed infections and sixty confirmed Ebola deaths.
The mayor of Newark, New Jersey, officially announced the city
is expanding a lawsuit against Delaney Hall, the controversial detention
center used to house detainees picked up by Ice agents.
The city already has a lawsuit against Delaney Hall, which
is privately run over allegations of code violations around Baraka
once the center shut down amid reports of poor conditions inside.
It's troubling, which forces us now to expand and our
business administrator, we'll talk about that our lawsuit against the
Lady Hall further than just cold enforcement violations.
Mayor Baraka also criticized the deployment of New Jersey State
Police as tensions grow over protests. Meanwhile, the curfew has
been lifted. Former New York Republican Representative George Santos is
now under scrutiny for his trading on prediction market sites.
According to reports Calshi identifying suspicious activity in a market
about whether Santos would attend the State of the Union
address this year. Santos went to prison last year on
federal fraud charges after being ousted from Congress. Global News
twenty four hours a day and whenever you want it
with Bloomberg News Now Michael Barr, and this is Bloomberg Karen.
Thanks Michael, time now for our Bloomberg Sports update and
for that paper, John Stashauer.
Thanks Garren entertaining start to the Stanley Cup Final in Raleigh,
Carolina scored twenty five seconds in let to nothing that
Vegas head leeds of three two and four to three,
and when Tomas Hurdle scored with three and a half
minutes to go, the Golden Knights won Game one over
the Hurricanes five to four. NBA Finals begin tonight Nixon
Spurs in San Antonio. Aaron Donald was the star defensive
alignment for the Rams until retiring after the twenty twenty
three season. With the Rams acquisition of Miles Garrett. Donald
is said to be considering coming out of retirement. That's
the 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 out This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager on the morning after a
busy night of primary elections from coast to coast, and
while the results are still coming in, California's packed governor's
race is starting to look like a two mon and
showdown between Democrat Javier Bisera and Trump backed Republican Steve Hilton.
It looks very much as if Californias really will have
the chance to vote for change in November.
On Tech My Republican Steve Hilton addressed his supporters last
night as those results continue to roll in. For more
on this than the other key races to watch, We're
joined this morning by University of Virginia politics professor Jennifer Lawless.
It is great to speak with you this morning after
a busy election night, Professor. Just looking the snapshot right now,
we can call it Hilton twenty eight Bisarah twenty five.
Tom Steyer, the rebillionaire almost twenty percent. Are you surprised
by a result like this in California?
Good morning, Good morning, Thanks for having me. I am
not surprised by the result. This race has been up
and down and all over the place for months. The
Democrats didn't get the candidate that they expected when Eric
Swawell dropped out and bisera kind of resurrected himself from
the dead, and so there's been a lot of uncertainty,
a lot of late decision making. And I wouldn't count
Tom Steyer out yet either, because there were so many
votes cast on election day that we've got to be
patient as they come in.
With Hilton in the lead, at least at the moment,
what kind of a warning signal does that send potentially
to Democrats still look at a hold on in California.
Well, the best scenario for Democrats to hold on, obviously,
was to have two Democrats emerge in the top two seats.
It's not entirely surprising that Hilton managed to grab one
of them, or looks like he's going to grab one
of them. But you know, a couple of weeks ago,
it looked like it was possible that two Republicans might,
and so I just think it sends a clear signal
that there is a strong Democratic base in California. But
it's not a given that a Republican can't make it
statewide into the top two. And that's certainly going to
shape not only the governor's race but also down ballot
contests that have seen a lot of redistricting.
Well, it didn't take long for the Associated Press to
project LA Mayor incumbent Karen Bass forced into a runoff
in her race. How worried should she be this morning?
She should be pretty worried. This is the first time
that an LA mayor has faced a run off in
more than a decade, and frankly, the person who she's
likely to face, Spencer Pratt, is a victim of the
Palisades fire that many voters believe she did a poor
job handling. So the idea that this is going to
be a referendum not only on her term as mayor
but specifically on how she responded to those fires doesn't
put her in as you know, firm, doesn't give her
as firm footing as she might have if she was
facing somebody else.
So you look at a race that could be pretty
key for control of Congress in November, the New Jersey
seventh district, where Republican Tom Kine Junior has been dealing
with this undisclosed medical issue. How do you think he
could stand up against the Democratic nominee here, Rebecca Bennett,
the former Navy hell coptor pilot.
She's an incredibly strong candidate. It is a split district.
This is one of the Democrats' best opportunities to take
back a seat, and frankly, King king silence on his
absence is somewhat striking. You know, he's missed more than
one hundred votes. I think voters in general feel like
they deserve to be represented, and this will be a
good example of whether voters are willing to in some
cases overlook party identification and vote across the party simply
because they want somebody who's actually present in the House
of Representatives to make sure that their interests are heard.
Because she's a strong candidate, because she's seen as a moderate,
she's actually got a shot at defeating an incumbent.
How important could this race be given all the fighting
around redistricting across the country that's led up to all these.
Races, well, any race that the Democrats can focus on
that isn't a result of a redistricted race provides them
an opportunity. If they want to take back the House
of Representatives. They can't bank entirely on redistricting, which is
something that they thought they would probably be able to
do a couple of months ago. And so any vulnerable incumbent,
any incumbent who hasn't been representing his or her district,
whether it's because they're out of sync with their constituents
or because they haven't been showing up, are real opportunities
for the Democrats, and this is certainly at the top
of that list.
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
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And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg.
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