Iran Peace Deal in Limbo; Redistricting Passes in Virginia

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, a long term deal to end the US war,
where Iran appears to be in limbo. President Trump has
extended the ceasefire with Tehran indefinitely while keeping the naval
blockade on the Strait of Hormos. After planned peace talks
in Pakistan this week fell apart. The President announced his
decision in a truth social post hours after saying he
was not inclined to extend the truths.
Well, I expect to be bombing because I think that's
a better attitude to go in with.
But we're ready to go.
I mean, the military is rare and to go. They
are absolutely.
Incredible, President Trump spoke in an interviewed yesterday with CNBC.
Bloomberg's Jumana Bursetti has more from Dubai.
We spent the whole day pretty much ascertaining whether j
d Vance was going to make the trip to Islamabad
four second round of tolks. Clearly that is not going
to happen, and we found out in the middle of
the night yesterday. President Sean putting up this true social
post saying that the ceasefire has now been extended, but
again with a big question mark because this ambiguity really
over the timing or the new eventual deadline for the seasfire.
He says it will continue until Iran submits a new
proposal and discussions are concluded one way or another.
Bloombergs Jumana Burssetti reports Iran did not ask for the
ceasefire extension and won't reopen the Strait of Hormuz as
long as the US blockade continues. That's according to the
semi official Coznim news agency. This morning, the UK Navy
says two ships were fired at near the strait, including
a container vessel approached by an Iranian gunboat, and satellite
data show at least two fully loaded Iranian oil tankers
have sailed past the US blockade into the Persian Gulf
this week.
Nathan, we have new developments this morning involving another war
over shes. Ukraine is asked Turkey to help arrange a
summit meeting between President Vladimir Zelenski and Russian leader Vladimir Putin.
Ukraine is seeking alternative ways to revive the diplomatic track
as US broker negotiations have stalled because of the Middle
East conflict. Ukraine sees Turkish President Recip tayep Erdawan as
a mediator able to engage with Putin.
In the UK Karen, a political scandal has left Prime
Minister Kir Starmer's future in question. Let's go to London
and get the latest with Bloomberg's un.
Parts, Nathan and Karen. It's been another bruising forty eight
hours for the UK's Prime Minister Kirs Starmer. Yesterday, the
former top official at the Foreign Office, whose Starmer recently fired,
testified in Parliament that he was pressured by Starmer's office
to approve Peter Manlson's appointments as US ambassador. The official
said that Starmer's office was quote dismissive in its approach
to the security vetting process that ultimately raised red flags
about Manlson's background. Starmer says he's angry he wasn't directly
told about the security vesting failure in London. I'm ewing
pots Bloomberg Radio.
All right you and thank you. Turning to US politics.
A vote that could shift the balance of power on
Capitol Hill, is in the books. In Virginia, voters there
have approved a Democratic plan to redraw the state's congressional
map in a way that could add up to four
House seats for the party. In November, when ninety seven
percent of votes counted, the Yes vote is leading the
Nos fifty one and a half to forty eight point
six percent. Larry Sabado, as director of the University of
Virginia Center for Politics.
There were enough Democrats in urban, suburban and ex urban
areas to outvote all the rural areas, and the rural
areas were overwhelmingly opposed to this referendum because they're Republican
and they were going to lose their Republican representatives except
for one.
University of Virginia political scientist Larry Sabado says this is
one of the final acts in a redistricting battle that
began last year when Republicans in Texas moved to withdraw
their congressional lives. The GOP will get one more chance
to play its hand next week in a special election
in Florida. If that passes, it'll make me back and
forth between the parties, essentially.
A draw back.
In Washington, Karen President Trump's nominee to chair the Federal
Reserve is pledging central Bank independence. He did so during
his Senate Banking Committee confirmation hearing. Former Fed Governor Kevin
Warsh said he never promised the White House he would
cut interest rates, even as the President renewed his calls
for the Central Bank to do so.
The President never asked me to predetermine, commit fix, decide
on any interest grate decision in any of our discussions,
nor would I ever agree.
To do so.
And Senator Elizabeth Warren says Worsh's testimony shows a lack
of independence. And here's the Massachusetts Democrats exchange with Worsh.
Mister Walsh, did Donald Trump lose the twenty twenty election?
We try to keep politics if I'm confirmed out of
the Federal.
I'm just asking you a factual question. I need to know.
I need to measure dependance and your courage.
Senator, I believe that this body certified that election many
years ago.
That's not the question I'm asking. I'm asking did Donald
Trump lose in twenty twenty?
Man, I'm suggesting you in twenty FED.
So that after the hearing, we cut up with Warren
on Bloomberg's balance of power.
What I want to see, what Democrats want to see
as an independent fab that's still making decisions based on
the numbers. What Donald Trump has said quite openly is
he wants to make the political decisions that aren't good
for the American economy but are good for Donald Trump.
Today's hearing was all about that issue.
Massachusetts Senator Elizabeth Warren speaking on Bloomberg's Balance of Power
heard on Bloomberg Radio at noon Eastern And Kevin worsh
is nominated to succeed j. Powell when his term as
chair ends next month.
Well today, Karen earnings are front and center once again
for investors. Thirty companies in the S and P five
hundred report, including Tesla. Bloomberg's Tom Busby has a preview.
After previously posting disappointing first quarter vehicle deliveries just three
hundred and fifty eight thousand autos. The focus for investors
is what's in Tesla's pipeline, including the latest on the
release of the cybercab, Robotaxi It's humanoid robot, and any
plans for a very low cost ev Also of note
Tesla's cash burn that's after announcing capex of at least
twenty billion dollars this year. Bloomberg consensus calls for revenue
of twenty two point twenty seven billion dollars on ad
justin ernings per share of thirty five cents. Tom buzby Bloomberg.
Radio, All right, Tom, thank you. Another one of Elon
Musk's companies is in the spotlight this morning. SpaceX says
it has an agreement giving it the right to acquire
artificial intelligence startup Cursor for sixty billion dollars later this year,
or to pay ten billion for the companies to work together.
The DL is part of SpaceX's efforts to catch up
with rivals in AI coding tools.
Well now Bloomberg exclusive in the AI space. Karen sources
say a small group of unauthorized users has accessed anthropics
new Mythos AI model. It's a technology the company says
is so powerful it can enable dangerous cyber attacks. We're
told the users gained access to Mythos through a mix
of tactics, including one of them acting as a worker
to third party contractor and Thropics investigating this report. The
company says it currently has no evidence the access is
impacting any of its systems.
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 Michael Barr. Michael, good morning,
Good morning, Karen.
Congresswoman Sheila Scheerflest McCormick has resigned, doing so just moments
before the start of a hearing that could have led
to a recommendation that she be expelled from Congress. According
to an investigative panel, Sherefulest, McCormick committed twenty five violations
of House rules and ethical standards. Cheerfulest McCormick also faces
federal criminal charges accusing her of stealing five million dollars
in coronavirus disaster relief funds. House leaders are weighing in
Speaker Mike Johnson, it's a sad day for the institution
anytime a member gets into trouble like that and resigns.
But I think that was certainly the right result.
I think a lot of people breathe the cigh of relief.
House Minority Leader Hakim Jeffries, she did the.
Right thing for the people that she has previously represented.
Democrat Cheerfulest McCormick denies any wrongdoing. The FDNY thought what
turned out to be a fatal five alarm fire in
New York City Tuesday afternoon. Two people were killed and
four seriously injured in the Belmont section of Bronx. Five
firefighters were also injured. Every floor of the five story
building was fully engulfed as smoke filled the streets. FDN
Y Chief of Fire Operations Kevin Woods.
The roof has collapsed in a large portion of that building.
A lot of the stalewell has collapsed as well, so
we had to pull our firefighters out of the building
go to xt area Operations.
Chief Woods says the blaze began on the first floor,
which housed a barbershop and a Delhi. There were several
apartments above. Authorities are investigating what led to a near
miss over New York's JFK Airport, officials saying American Airlines
Regional jet deviated off course, putting it directly in the
path of an Air Canada plane that was cleared to
land on a parallel runway. The two planes came within
about a half a mile of each other before aborting
their landings. Global News twenty four hours a day and
whenever you want it with Bloomberg News. Now now Michael
Barr and this is Bloomberg herey.
Well, thanks Michael.
All time now for our Bloomberg Sports Update, and for
that we bring in John Stashauer.
Hi Kerrey Kepler wins by road teams in the NBA Playoffs.
Philadelphia lost Game one in Boston by thirty one, but
the Sixers took Game two one eleven ninety seven. The
rookie vj Edgecombe scored thirty points in the win. Jalen
Brown had thirty six of the loss. Portland won Game
two at San Antonio one of six to one oh three.
The Spurs lost their star Victor wembin By his face
hit the floor in a hard hit and he got
treated for a concussion. One home team to win, the
Lakers they beat Houston. Chicago Bulls coach Billy Donovan resigned.
That's for 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 app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. Prospects for a long term
piece between the US and Iran appear to be on hold.
President Trump has extended the ceasefire with Tehran indefinitely, hours
after sounding confident the second round of talks could lead
to a deal.
I think we're in a very strong negotiating position to
do what other presidents should have done during a forty
seven year period.
It was President Trump on CNBC hours before he put
those negotiations on hold, joining US from Dubai this morning
is Bloomberg Middle East Course, sponded Jumana Borsecci, anchor of
Bloomberg Horizons. Jumana, what happened in just the last twenty
four hours.
Yeah, well, what we didn't get were Islam a bad talks.
That was the speculation yesterday, and we spent a good
chunk of the day monitoring JD. Evans's movements to see
if he was going to depart for these talks. But
it became apparent that there had been no confirmation from
the Iranian delegation that they were set to attend, and indeed,
by late evening over here in the region, it became
pretty clear that these talks were not going to happen
at all, which prompted President Trump a couple of hours
later to put up this post on true Social announcing
a ceasefire. He said he was extending the seasfire at
the request of Pakistani mediators until Iran submits a new
proposal and discussions are concluded one way or another. Now,
the Iranian side came back to say that they themselves
did not request an extension of the ceasefire, but Trump
blamed the collapse of the negotiations on what he described
does a seriously fractured leadership structure in Iran. Now one
other important point, because this has become a key sticking
point in terms of the sequencing from here. President Trump
also reiterated that the US naval blockade is going to
stay in place, and from the Iranian standpoint, that has
been a deal breaker for them to progress onto the
second round of discussions. Overnight, the Iranian Farm Minister putting
up a post saying blockading Iranian ports is an act
of war and thus a violation of the seasfire. The
Iranian ambassador to Pakistan once again reiterating that they would
need to see a lifting of the US naval blockade
before they can go to another round of discussions.
Well, what is the status of that blockade right now,
Jumana and the security around the strait. We've heard a
number of reports of action on the high seas.
Yeah, that's right.
So I think the last post that President Trump put
up before he went to sleep last night, he was
talking about the success of the US naval blockade and
that it's costing Iran five hundred million dollars a day.
But in reality, if you look at some of the
satellite imagery that has come through over the last couple
of days, and this is data intelligence firm Vortexa, they've
said that over the course of the blockade, over thirty
four Iranian linked vessels have managed to make it through
the lines that have been set by the US. So
there is still some Ranan vessels that are managing to
slip through. That's the first point. The second point is
it is still dangerous and this morning the UK Navy
reported gunfire that was emanating from some of these IRGC
affiliated boats. They were firing at an MSc vessel that
had essensibly picked up oil from Saudi Arabia was on
its way to Singapore, and just as another incident underscoring
the danger for vessels wanting to pass through the straits,
and not just because of the effective you know, I
ran in control, but also the fact that there are
two blockades in existence right now. There's a lot of
obscurity about, you know, which path is safe for vessels
to use if they want to transit, either going into
the streets or out of the streets. And it's estimated
that there are over eight hundred vessels still just sitting
in the Persian Gulf now awaiting direction.
This is Bloomberg Daybreak, your morning podcast on the stories
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