Iran Barrage Sweeps Mideast; House Rejects War Powers Bid

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 war with Iran is now into a seventh
day and there is little sign of let up on
either side. This morning, Iran's Mayor News service reports Tehran
has fired a massive barrage of missiles at Israel. That
says Israel hits Tehran and be root with air strikes.
President Trump says the US continues to totally demolish Iran's forces,
so they have.
No air force, they have no air defense.
All of their airplanes are goun, their communications are gun missiles.
A gun launches a gun about sixty percent and sixty
four percent, respectively.
Other than that, they're doing quite well.
President Trump spoke at the White House. We get more
from Bloomberg's Patrick Sykes in Istanbul.
Yeah, reports are particularly as particularly heavy strikes in Tehran
overnight in early this morning. We've also had more attacks
touching Israel, Saudi katan Qa as well as northern Iraq.
That's one to watch in particular because of the Kurdish
dynamic there. Iran. The regime in Tehran very concerned that
they could see Kurdish militants trying to take control and
attack positions in that part of the region.
Bloomberg's Patrick Sykes reports Iran is warning it plans to
use newer long range missiles in the coming days. That's
according to a report from the country's semi official Fars
news agency. The war has left more than thirteen hundred
people dead in Iran and dozens more in other parts
of the Middle East. The Pentagon says six US troops
have been killed, all in the first two days of fighting.
Nathan.
President Trump says he wants to have a hand in
who the next leader of Iran will be. Bloomberg Middle
East correspondent Jumana Burssetti has more on the search to
replace Supreme Leader Ayatola Ali Hamini.
The main one that people are talking about is Hamene's son, Mushtabakhmene,
who is quite little cut from the same cloth, hardliner,
very close to his father's ideology, very close to the
clerics and to the Revolutionary Guard. The President Trump saying
Kamani's son is unacceptable to me. We want someone that
will bring in harmony and peace to Iran. Other names
that are being put up. Ali Arafi, you may have
heard his name because he's one of the three people
on the Transitional Leadership Council or another name that's being
put up, as well as the grandson of the original
Supreme Leader Romani. All of these names are considered to
be very close to the Revolutionary Guard, still adopting the
very hardline theology and ideological positions of the former Supreme Leader.
Bloombergs Demna Bresacchi notes that Around's Assembly of Experts is
responsible for appointing, supervising, and discharging the Supreme Leader. This
is the second Supreme Leader the Assembly will pick in
the Islamic Republic's forty seven year history.
Well, with no end insights to the fighting, Karen, we
are seeing oil on the rise once again in Bloomberg's
John Tucker's watching the markets for us.
John, good morning and Nathan, good morning.
The Joint Maritime Information Center announced early this morning the
Strait of Hormones shipping traffic near total halt. And now
this headline cutter is now warning it will not resume
production until fighting stops. Oil headed for the biggest weekly
surge since twenty twenty two. A brand the international benchmark
currently training above eighty seven dollars a barrel, and for
some contexts, last year, about twenty million barrels of oil
and petroleum products flow through the Strait of Hormones every day.
Richmond Fed President Thomas Barkett is telling Bloomberg, it's the
price at the pump matters a lot in terms of
sentiment in the US and crowding out other spending.
And so I'm just watching prices at the pump. They've
jumped up over the last week. You can see that
when you drive around. But of course no one knows
whether this is going to be short term or long term,
and so we'll just see where it goes well.
US gasoline pump prices have now advanced to the highest
level since September twenty twenty four, to triple a the
average retail price of regular three point thirty two a
gallon in New York On John Tucker Bloomberg.
Radio, Right, John, thank you. The financial and logistical troubles
the Iran war is causing for the global aviation industry
are compounding by the day. The number of canceled flights
to Middle East tubs has surpassed twenty seven thousand Since
fighting began, thousands of passengers have been stranded in the
Gulf region.
On Capitol hillcare in the House has joined the Senate
in rejecting a bill that would have forced President Trump
to halt strikes on Iran. A handful of Democrats joined
most Republicans in voting against the War Powers Resolution two
nineteen to two twelve. House Speaker Mike Johnson says it
was the right move.
Would have been a very dangerous gambit to take the
Commander in chief's ability away to complete this mission. It
would have been a very serious misstep by Congress, and
I'm grateful that that resolution failed.
Speaker Johnson spoke on Capitol Hill after the vote. Lawmakers
will have another chance to weigh in on the war soon.
The White House is preparing ask Congress for billions of
dollars to continue the fight against Iran.
Well Nathan. President Trump removed Christy Nome as Homeland Security
Secretary after months of controversy and announced he would replace
her with Oklahoma Senator Mark Wayne Mullen. Bloomberg's Amy Morris
s Hays more from Washington.
Sources tell Bloomberg President Trump was upset with Nome for
telling lawmakers. The president signed off on a roughly two
hundred million dollar advertising campaign. Mullen talked to reporters on
Capitol Hill about the chain.
I'm here to enforce the policies that Congress passed, and
right now I'm part of it. But once I make
that transition, my focus is to keep the homeland secure.
Trump says he'll name NOME as a special Envoy for
the Shield of the Americas. It's a new security initiative,
he plans to announce on Saturday at a summit with
Latin American leaders. Noam posted her thanks to the President
on social media, saying that she's looking forward to her
new role in Washington. Amy Moore as Bloomberg Radio.
Amy thank you, and President Trump posted on social media
that the move would take effect March thirty.
First, Karen Anthropic could be headed for a legal showdown
on AI with the US government. The company's vowing to
legally contest a Pentagon decision to declare it a threat
to the US supply chain. The move puts the firm's
contracted risk it provides the Pentagon with classified AI tools.
This clash came to a head last week when the
White House said Anthropic would be blacklisted for refusing to
allow its technology to be used for mass surveillance in
the US or the development of autonomous weapons.
Well Nathan, the Trump administration is considering taking a formal
role in the artificial intelligence industry. US officials have written
draft regulations that would restrict AI chip shipments to anywhere
in the world without American approval. Bloomberg Technology host ed
Ludlow says this would make the US government the gatekeeper
for who can buy large amounts of chips.
If it's a small project or small shipment, that would
face lighter review. If it's a bigger data center project
at say Giggle what scale that would require the tens
of thousands or hundreds of thousands of GPUs the day
centers of that magnitude rely on, then it would not
just be a thorough review by BIS in the US government.
But you're talking now about government government talks.
And bloombergs ed lolosas chip giants. Nvidia at AMD did
not respond to requests for comment to the story.
Turning back to the markets, now, Karen, futures are lower
after yesterday's losses on Wall Street. The S and P
five hundred was down one and a half percent at
one point, but it closed lower by a half percent.
This morning, Wall Street awaits the latest monthly jobs report,
and we get a preview from Bloomberg's Charlie Pellett.
The government's employment report is expected to show that hiring
moderated last month after an unexpectedly strong reading in January.
Economists surveyed by Bloomberg see the US economy adding fifty
five thousand new jobs, with the unemployment rate holding at
four point three percent. Kathy bus Jensik is chief economist
at Nationwide Mutual.
When you look at the trend, I think the labor
market has been pretty resilient here.
It's not buoyant, but resilient.
Some economists have warned that severe winter weather could dent
the headline payrolls number in New York. Charlie palettes Bloomberg Radio.
And another program Note, Karen, as we've just seen this
past weekend, markets may close this afternoon, but the world
will not. And that is why we are bringing you
a new live radio and TV show, Bloomberg this weekend.
It looks beyond the headlines of the day to the
bigger themes driving politics, business, and culture. We invite you
to join David Gera, Christina Raffini, and Lisa Matteo to
get smart conversations and in depth interviews that help 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, Bloomberg Television, 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 Bloombergy's Michael Barr Michael Good Morning.
Good Morning Karen. New York Governor Kathy Oakel says although
the state was not facing any credible threats because of
the unrest in the Middle East, the state cybersecurity and
counter terrorism experts are monitoring the situation. Hokeel said the
state remains on high alert as the conflict between the US, Israel,
and Ron War stretches into a seventh day.
And it's a city that is home to over a
million Muslims, a state of million Muslims, but also a
million Jews as well. We are exposed. We are exposed
to this as we have been in the past. So
we take it very sissy. We're working hand in hand
with NYPD.
Governor Hockel says she has been getting hourly updates on
the situation. Groups representing US airlines and the travel industry
are calling on Congress to reopen the Department of Homeland
Security so that airport screeners can get paid. At a
pay Federal Aviation Workers news conference in Washington, DC, President
and CEO of the US Travel Association, Jeff Freeman says
it's reckless not to pay these critical workers.
You can't run an industry with three trillion dollars in
economic impact on IOUs.
The funding lap stems from disagreements over immigration enforcement after
federal ice agents killed two Americans in Minneapolis, with the
Democrats demanding reforms. Three former presidents will be among those
attending the funeral service in Chicago today for the Reverend
Jesse Jackson. Former Presidents Bill Clinton, Barack Obama, and Joe
Biden will say a final goodbye to Jackson at what's
being called the People's Celebration at the House of Hope
Baptist Church. Private service will be held Saturday at Rainbow
Push Coalition headquarters for Jackson, who died at age eighty
four Global news twenty four hours a day and whenever
you want it with Bloomberg News Now. I'm Michael Barr.
This Isloomberg. Karen.
Thanks Michael. Time now for our Bloomberg Sports update, and
for that we bring in Dan Schwartzman.
Thanks Karen.
The NHL trade deadline is this afternoon at three pm
Eastern Time. Moves being made already this morning, as the
Capitalist have shipped longtime defenseman John Carlson to the Ducks
for a conditional first round pick and a third rounder.
Houston Texans and five time Pro Bowl defensive end Daniel
Hunter agreeing to a one year, forty million dollar contract extension.
Hunter was named a second team All Pro last season
after registering fifteen sacks, Lebron James making more history and
the Lakers loss to the Nuggets, passing cream Abdul Jabbar
for most field goals made an NBA history with fifteen,
eight hundred and thirty eight. Meanwhile, Celtics star Jason Tatum
expected to play tonight as Boston host to Mavericks. Tatum
has been out less than ten months after tearing his
right achilles tendon in the playoffs last season against the Knicks.
That's your Bloomberg Sports update.
Stay with us. More from Bloomberg day Break coming up
after this.
Coast to coast on bloom Burg Radio nationwide on Serious
Exam and around the world on Bloomberg dot Com and
the Bloomberg Business app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager, coming to the end of
the first week of the war where they're ran, but
there is little and insight to the war itself. Joining
us this morning from Mistan. Bold is Bloomberg News Middle
East Breaking News Editor Patrick Sikes. Patrick, what is the latest?
Good morning?
Hi.
They have no sign of let up, as you say,
the Ranians over night saying they've got no intention to
negotiate and they haven't asked for a ceasefire, denying some
of the reports we've had over the past few days
to that effect. And strikes are still happening today in Israel,
in Saudi kata Q eight, Northern Iraq as well. The
latter I think an important one to watch because of
the reports over the past few days about potential US
Kurdish coordination to weaken the regime in Iran.
And the headline I saw from Qatar as well, that
is might be shutting down oil production completely until the
fighting stops. What's the latest on that.
Yeah, oil and particularly gas and leg will be important
for Qatar, one of the biggest producers in the world,
and currently all of that is stuck on the wrong
side of the Straight of Hormos. I think that that's
book the market. We saw oil react to that because
it just underlines the potential for this to continue for weeks.
I think he said something too effective. If it's four
or five weeks kind of timeline, then we could see
oil going to one hundred and fifty dollars a barrel.
That's almost double where we are now. So again the
market is super hounded on the duration of the conflict. Well,
I gauge the risk.
There is some question about the duration. Given that President
Trump has said that Iran's air defenses and navy are
gone and the missile launchers as well have been depleted.
What could that say about the extent of the damage
and how much longer this could go on.
I think our colleagues on the Economiccited have done some
good analysis about this, and they give the nuance that
that air dominance air superiority is true. But it's in
very specific areas, right. It's not the case that the
US Israel can fly unimpeded without risk over the whole
of the territory of Iran. If you look at the map,
they've really been focused on the western part near the border,
that that enemy facing side of Iran. But there's still
I think in there are a lot of targets to
go for further inland, and that's why I think there's
still plenty of scope for it to continue.
Just thirty seconds left, Patrick, But what's the air travel
situation like right now?
Fundamentally it's still extremely disruptive. We've seen some companies and
individual corporate companies as well arranging emergency flights out, but
fundamentally that disruption is still ongoing. Interestingly, with a story
about people crossing the border from Dubai to get to
Omar and hiring private with jet turns the flyouts. That
has been a big spike in private jet travel as well.
This is Bloomberg day Break, your morning podcast on the
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