June 16, 2025 • 22 mins
On today's podcast:
1) Hostilities between Israel and Iran entered a fourth day on Monday with no sign of easing, stoking fears of a wider war in the oil-rich region.
2) The man suspected of killing a Democratic state lawmaker and her husband in Minnesota has been taken into custody, the Ramsey County Sheriff’s Office said.
3) J.J. Spaun endured the toughest test in golf on the toughest course in America in the worst kind of conditions. And then he turned this miserable, wet Sunday at Oakmont into a finish as memorable as any in the U.S. Open.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today, Karen.
Speaker 3 (00:16):
Fighting between Israel and Iran is now into its fourth
day with no sign of easing. Iran has fired several
waves of drones and missiles over the last twenty four hours,
while Israel continued hitting the Islamic Republic's capital, Tehran, killing
one more senior military official Stuart Livingston Wallace heads are
Middle East coverage.
Speaker 4 (00:35):
It's a combination of what appear to be very precise
strikes by Israel on Iranian targets, and that largely encompasses
nuclear sides military sites. And it does appear at this
stage and given everything we've seen over the last four days,
that Israel now more or less has a free hand
within Iran, and it's been quite surprising, I suppose, how
little response Iran seems to have those strikes. And then
(00:59):
on the other side, it's been sort of throwing back
ballistic missiles and drones in very large quantities, and that
seems to be a lot less precise, I mean largely
the strategy there seems to be to try and overwhelm
Israel's rather impressive defenses.
Speaker 3 (01:13):
Bloomberg, Stewart Livingston Wallace reports the casualty toll is rising.
Iran's government says two hundred twenty four people have been killed,
while Israel says Iranian attacks killed twenty three people and
injured more than four hundred well Nathan.
Speaker 2 (01:27):
President Trump says he believes Israel and Iran could eventually
reach a peace agreement, but suggested they may have to
continue their conflict before coming to the negotiating table. The
President spoke to reporters as he prepared to board Marine one.
Speaker 5 (01:40):
I think it's time for a deal, and we'll see
what happens.
Speaker 6 (01:43):
But sometimes they have to fight it out. But we're
going to see what happens.
Speaker 3 (01:47):
I think there's a good chance he'll.
Speaker 2 (01:49):
Be a deal, President Trump, speaking before he left to
attend the G seven summit in Canada. The conflict threatens
to open a new rift at the high level gathering
of world leaders. We get more from Bloomberg. There's David
Gura in Alberta, Canada.
Speaker 7 (02:02):
Conflict in the Middle East is casting a shadow over
this meeting of the Group of Seven, even if it
hasn't scuttled the official agenda. Several world leaders have called
on Iran and Israel to de escalate the situation, and
it's unclear if the group will issue a formal statement
on the conflict. A broader joint communicate is not in
the cards. Prime Minister Mark Carney is being careful not
to upset President Trump, who withdrew from that agreement the
(02:24):
last time Canada hosted the G seven in twenty eighteen
in baff Alberta, Canada.
Speaker 8 (02:29):
I'm David Gura, Bloomberg Radio. All right, David, thank you.
Speaker 3 (02:32):
President Trump appears to be doubling down on his mass
deportation policy after a weekend of protests across the country.
In a truth social post last night, the President called
on ICE agents to expand deportations in the largest US cities,
including Los Angeles, New York, and Chicago. Democratic Senator Alex
Padia of California says the raids are going too far
(02:53):
for all.
Speaker 9 (02:53):
To talk about the focus and targeting of violent criminals.
If that's all the Trump administration was doing, there would
be not debate. As you're hearing more and more stories
of undocumented long term resident of the United States were
otherwise law abiding that's who's being targeted.
Speaker 3 (03:08):
California Senator Alex Padia appeared on CBS's Face the Nation
heard Sundays on Bloomberg Radio. Last week, President Trump appeared
to acknowledge the impact his policies have had on rural
communities and promised changes to protect farm and hotel workers.
Speaker 1 (03:21):
Nathan.
Speaker 2 (03:22):
A manhunt that lasted much of the weekend is over
in Minnesota. Suspect is in custody and the killing of
Democratic state lawmaker Melissa Hortman and her husband and the
shooting of State Senator John Hoffman and his wife. Minnesota
Governor Tim Walld says the suspect, fifty seven year old
Van Spoulterer, was arrested after a trail camera picked him
(03:42):
up near his farm. The FBI had been offering fifty
thousand dollars for information leading to his arrest.
Speaker 10 (03:48):
To the law enforcement who stand here and the hundreds
who were involved in this, the State of Minnesota owes
you a deep gread of gratitude. Thank you, you ran
towards the danger and you served the State of Minnesota.
Speaker 2 (04:02):
Governor wals announced the arrest last night. Authorities are still
investigating a motive behind the attack. A government document seen
by Bloomberg News points to a purported hit list at
the crime scene that included the names of several Minnesota
politicians and abortion providers in the state.
Speaker 3 (04:19):
Karen, let's turn to markets now. Futures are higher as
we kick off a new trading week, a week that
will be highlighted by a Fed decision. It's bringing Bloomberg
John Tucker with the very latest, John, good Morning.
Speaker 11 (04:29):
And Nathan. The Central Bank concludes it's two day meeting
on Wednesday. This is expected to hold rates steady this meeting,
but there could be some change in tone about possible
future cuts at Chairman Jerome Powell's press conference that follows
the meeting. Robert Dishner is with Newburger Berman.
Speaker 3 (04:45):
We're still of the belief the Fed's going to cut
twice this year. The forecast may move down to one
cut this year, But does then the Fed give the
market something for next year?
Speaker 8 (04:54):
Do they increase that to three cuts next year?
Speaker 11 (04:57):
Well, policy makers have been pretty clear before they could
make a move beneath the White House to resolve the
big question marks around Tarff's immigration and taxes. It is
there's a tax on a RN have also introduced another
element of uncertainty. Well, the FED meeting comes as President
Trump has turned up the pressure on Jerome Pal to
lower rates. A fourth straight meeting without a cut could
(05:17):
provoke another tie rate from the President, got to York,
Come John Tucker, Bloomberg Radio.
Speaker 2 (05:22):
John, thank you. In sports, it was quite a memorable
finish at the US Open in Oakmont. Let's spring in
Bloomberg Sports reporter John stash Hour with the dramatic details.
Speaker 8 (05:31):
John, Good morning, Mary Karen.
Speaker 6 (05:33):
It was an Open where all the golfers struggled against
the mighty Oakmont course, but it ended with a remarkable
sixty five foot pot on the last hole for the win.
Speaker 8 (05:42):
JJ Spon fall up and over the ridge. It's on
a very good line, just could go in J J
Spon makes sense. It's the biggest one in his career.
Speaker 3 (05:52):
JJ Spon conquers Oakmont And as you're one hundred and
twenty fifth US Open champion.
Speaker 6 (05:58):
US Open Radio, I had the call that was the
longest that anyone had made throughout the four rounds. It
left Spawn with the only underpar score and unlikely Open champion.
He only won one PGA tournament in his career. Well
here from him, coming up shortly, John Stashieware Bloomberg Sports.
Speaker 3 (06:13):
Yeah, it got to be one of the loudest golf
calls I've heard in quite some time. Thank you for that, John.
Back to markets now, we're watching shares of Caring. They
are hired by more than ten percent. In Europe, the
owner of the struggling Gucci fashion label is preparing to
name the chief executive officer of Renault as its next
CEO in a bid for a turnaround. Bloomberg News has
(06:33):
learned that Luca Demeyo is going to be appointed to
the job in the coming days. Watching shares of Renault,
they are down more than seven percent.
Speaker 2 (06:41):
Nathan, another activist investor, is seeking changes at Victoria's secret.
Bloomberg News has learned Barrington Capitol Group, which has built
a stake in the lingerie retailer, plans to push for
a board overhaul. Earlier this month, one of Victoria's secrets.
The largest investors BBRC International, also called for me board
changes and.
Speaker 3 (07:01):
Back in this country. Shares of Serepta Therapeutics. They are
down more than thirty six percent. That company paused a
clinical trial after a second patient died of acute liver
failure after being treated with Serepta's gene therapy for a
rare muscle disorder.
Speaker 8 (07:20):
And it's time now for a.
Speaker 2 (07:21):
Look at some of their stories making news in New
York and around the world, and for that were joined
by Bloomberg's Michael Barr Michael, Good Morning.
Speaker 12 (07:28):
Good Morning Karen. More than two thousand nationwide so called
No Kings events were held over the weekend. While most
were lawful, there was trouble at some. In Salt Lake City,
what started out as a peaceful protest turned into chaos.
Gunfire broke out, killing a thirty nine year old man.
There were confrontations between police and protesters in Portland, Oregon,
(07:50):
in Washington State, and in Atlanta. In Los Angeles, police
broke up crowds. The LAPD says thirty five people were
arrested for breaking the city and Poe curfew after crowds
turned out for the No King's protest. As he left
the White House yesterday to attend the G seven summon
in Canada, President Trump credited National Guard troops he activated
(08:12):
for peaceful protests in Los Angeles.
Speaker 2 (08:14):
They come and.
Speaker 6 (08:15):
They check, and they say, is the National Guard.
Speaker 12 (08:17):
Going to be there?
Speaker 9 (08:18):
And if the National Guards being there.
Speaker 6 (08:20):
They don't even show up.
Speaker 12 (08:21):
Meanwhile, the Mayor of Los Angeles, Karen Bass, credits the
curfew for keeping the peace. The jury in Karen Reid's
murder retrial returns to deliberations today. Read is charged and
the murder of her Boston Police officer boyfriend. In twenty
twenty two. The first trial ended in a hung jury.
The defense is raising concerns about the complexity of juror guidelines.
(08:44):
Heavy rain has killed at least five people in West Virginia,
including a three year old child. This person escaped a
flooded apartment building in Fairmont.
Speaker 1 (08:53):
First four of our building was completely flooded and all
of our belongings destroyed and gone. Have the dog that
stunts building and I know for us.
Speaker 12 (09:02):
Today and half the governor says several more people are missing.
Two top union leaders have quit their post in the
Democratic National Committee. According to The New York Times, it's
over a dispute with the party's new chairman, Ken Martin.
Randy Wegarden, leader of the American Federation of Teachers, and
Lee Saunders, head of the American Federation of State, County
(09:23):
and Municipal Employees, resigned Winegarden and Saunders had supported Martin's
competition for the Chairman's spot. Ben Wickler Global News twenty
four hours a day and whenever you want it with
the Bloomberg News. Now, I'm Michael Barne. This is Bloomberg Hert.
Speaker 2 (09:38):
All right, Michael barr thank you. It's time now for
the Bloomberg Sports Update. It's brought to you by Flushing
Bank and we bring in John Stanshauer.
Speaker 8 (09:45):
John, good morning again, Thanks Aaron.
Speaker 6 (09:48):
JJ Spahn had been a top or near the top
of the leaderboard throughout that US Open at Olkmont. He
began with that bogey free first round of sixty six.
His Open chances seem to have ended when he began
the final round with five bogies in the first six holes,
but others faltered. Sam Burns had a forty on the
back nine. Adam Scott of forty one spawn on the
par four seventeenth bowl, drove the green and his birding
(10:11):
foot him back on top. He sealed the wind with
that astonishing sixty five foot fun on the seventy second hold.
Very much a late bloomerspawn didn't make it to the
PGA Tour until he was twenty six, but he nearly
won the Players Championship, lost at the playoff to Rory McIlroy,
now at age thirty four, the Open champion.
Speaker 13 (10:27):
I never thought I would be here, you know, holding
this trophy. I mean, I've always had aspirations and dreams,
but like I said, you know, a few months ago,
I never knew who my ceiling was. I never knew
how good I could be. But I'm just proud that
I've been resilient in my career and pushed through a
lot of things and just trying to be the best
(10:48):
golfer I can be.
Speaker 6 (10:49):
Robert McIntyre, the leftief from Scotland, finished second, two shots behind.
Lost weekend, so the Yankees and match both got swept
for the first time this season. Yanks shutout in Boston
two nothing to They scored only four runs in three games,
the fewest they've had in a three game series at
Fenway Park in more than a century. Barrafio Devers homeward
for the Socks, and then after the game, Devers, in
a shocker, got traded to the Giants for some young players.
(11:12):
Devers within the second year of a ten year contract.
The Mets at City Field lost at Tampa a nine
to nothing. The race cord twenty four runs in the
three games, and when the Phillies trinisto sweep of Toronto,
they were just three games behind the Mets. They'll play
Game five of the NBA Finals tonight, the series tied
at two. They're back at Oklahoma City. But Indiana has
won seven of its last nine on the road, has
(11:33):
not lost too in a row in the playoffs. John
Stashanwer Bloomberg.
Speaker 2 (11:36):
Sports count Nick all right, John, thank you, and Bloomberg
Daybreak is brought to you by Flushing Bank. Life's more
rewarding with Flushing Banks complete cash rewards program for personal
and business accounts. With twenty nine New York metro locations,
there's nothing more rewarding. Visit Flushingbank dot com member FDI.
Speaker 1 (11:54):
See coast to coast on Bloomberg Radio, I'm serious exam
and around the world on Bloomberg dot Com and the
Bloomberg Business App. This is Bloomberg Daybreak.
Speaker 3 (12:07):
Good morning, I'm Nathan Hagar on another morning of intense
fighting between Israel and Iran. The hostilities have stretched into
a fourth day. Israeli Prime Minister Benjamin Natanya, who is
calling the conflict an existential campaign for his country.
Speaker 11 (12:22):
We can't have the world's most dangerous regime have the
world's most dangerous weapons.
Speaker 14 (12:26):
We're protecting ourselves, but by doing so, we're protecting many others.
Speaker 3 (12:30):
Israeli Prime Minister Benjamin Natanya, who's speaking there for the
very latest. We are joined by Bloomberg News Israel Bureau
chief Ethan Bronner in Tel Aviv and Bloomberg Horizons anchor
Jumana Burceci joining us from Dubai this morning. Good morning
to both of you. Ethan, I'll start off with you
just to get us up to speed on what we've
seen in just the last twenty four hours of fighting.
Speaker 4 (12:49):
Good morning, Good morning Nathan.
Speaker 14 (12:52):
Yes, there were some fairly serious a missile of barraz
Is here in Israel. I think the people were build
to day. The number of data and development twenty four
and some hundreds are injured.
Speaker 8 (13:07):
I think a look.
Speaker 14 (13:08):
Recently where just about a half a mile from my apartment,
pretty serious baraj missile fell.
Speaker 5 (13:16):
Beyond that. Israel has been attacking increasingly. It says it
took away it killed the intelligence a chief and his deputy,
and has expanded its attacks as well.
Speaker 3 (13:29):
And Jumana. What is the extent as far as we
know of the damage in Iran at this point. Ethan
just mentioned that another senior Iranian military official has been
killed as well. What is the possibility that Iran can
mount a major response to what's been happening.
Speaker 15 (13:44):
Yeah, if you look at the approach that Israel's Air
Force has been taken, they've been looking to target strategic bases,
be they some of the military bases, the surface to
air launcher, surface to air missile launch launchers have be targeted.
Some of those nuclear sites as well. The IA saying
over the course of the weekend that Isfahan, which is
(14:04):
one of the actually the only uranium conversion facility that
Iran has, was severely impacted and will set back their
ability to continue with the uranium enrichment process by several months.
So an operational success if you want to call it
from Israeli perspective there, But then in terms of intelligence
penetration as well, we talked about the fact that the
(14:27):
operation itself was months of worth of preparation, and on
the back of that you've seen some senior leaders, commanders
from the Revolutionary Guard get taken out. The numbers now
stands at six alongside some of those nuclear scientists as well,
who were key to the technological and scientific know how
(14:47):
with the nuclear development.
Speaker 8 (14:49):
And so from a military.
Speaker 15 (14:51):
Standpoint, defense standpoints, and also intelligence standpoint, you could say
that Israel has had a lot of operational success so
far and the f four days of this conflict, and we're.
Speaker 3 (15:01):
Just hearing from Israeli sources that they claim that they've
achieved aerial superiority now over Tehran Ethan. Of course, we've
heard from Israeli Prime Minister at Natan Yahoo that the
goal is to take out Iran's nuclear capability. What does
that suggest about how long this fighting could go on?
Speaker 14 (15:21):
I mean, the problem is that Israel alone cannot take
out Around's nuclear capability, at least as far as we know.
I mean, as you say, they now say they have
aerial freedom, and so maybe they could you plant their
F fifteen's or F thirty five's and just pop, pop pop.
But it seems unlikely that they could get into Florida,
(15:43):
which is deep, deep into a mountain, so it's very
hard to tell. I'm being told that there's intense diplomatic
effort both the Russians the Americans and others are trying
to get somewhere here to make this thing not go forward.
But just today, this National Scurity Advisor it is we're
all said on the radio that Auranseil has thousands of
ballistic missiles. If that's true, this could go on for
(16:06):
weeks and months.
Speaker 3 (16:07):
Juwana, From your perspective, what is the possibility of a
diplomatic breakthrough here? We've heard from President Trump on his
way to the G seven saying that it might take
a little bit more fighting between Israel and Iran before
there is a resolution.
Speaker 15 (16:23):
Yeah, and I mean also in that same post, President
Trump also spoke about Iran and Israel should make a deal,
and we'll make a deal. But then that many calls
and meetings are taking place. So we know is that
many of the Arab GCC states are actively trying to
intervene here. Iran called on Cutter, have been playing a
key mediation role in those Iran US nuclear discussions. Remember
(16:45):
the sixth round of talks we're supposed to take place yesterday,
They no longer happened.
Speaker 8 (16:49):
But as we understand now.
Speaker 15 (16:51):
Aman and Kuta are getting actively involved again to restart
those discussions now seemingly because Iran is on the back foot,
maybe they'd be more amiable to some of the terms
that the US are putting out. Saudi Arabia at their
part as well, I should just say two. I think
it is notable that even though there's been an intensification
of strikes between the two sides over the course of
the weekend, there hasn't been a broadening out into the
(17:14):
region so to speak.
Speaker 8 (17:16):
The energy infrastructure.
Speaker 15 (17:18):
Yes, there were a few facilities that were set alight
over the course of the weekend, but still no major
energy exporting facilities have been hit, none of the shipping
lanes in the Strait of Hormos have been disrupted, and
of course US bases have been spared. At this point
in time, so remains to be seen whether the diplomatic
(17:38):
channel will be successful, but for now, the attacks are
focused on the bilateral kind as opposed to Iran taking
it one step further and the risk of bringing in
the broader region into the conflict as well.
Speaker 3 (17:50):
From your perspective, Ethan, what are you seeing in terms
of the kind of leverage that the US could have
over Israel as it continues strategically a long with the
fighting against Iran. We heard the President or we heard
some reports that the President had discouraged Israel from going
after the iatola when he had the chance. What are
(18:13):
you hearing?
Speaker 14 (18:14):
Yes, Look, I mean I think that there is a
sort of a double game, not surprisedly being played by
President Trump here on the one hand, taking a public
posture against this kind of action. On the other hand,
from everything we've been able to learn privately saying to Ntonia,
who go ahead and do what you have to do,
I think that Israeli and a US interests do overlap
(18:35):
to some extent here. Neither wants to see a nuclear
weapon in the hands of this Iranian regime. So in
terms of you know what kind of ability Trump has
over in Tennaaro, he's an enormous amount in the sense
that Israel does not want to be taking these actions
without the agreement of the United States, and ultimately it
(18:55):
can't do what it.
Speaker 5 (18:56):
Needs to do without the help of the United States.
Speaker 14 (18:59):
So a lot, but I think, but the point is
that we don't know exactly what Trump wants out of
this operation, and my impression is he's doing both things
at once.
Speaker 3 (19:10):
Jumana Iran is reportedly moving toward no longer following the
Nuclear non Proliferation Treaty. Now we've been hearing those reports
as well. Where could this go from here?
Speaker 15 (19:22):
Yeah, and I think that is really important to know
in the run up to the attacks that took place
on Friday, because it wasn't a coincidence that that also
coincided with the IA report suggesting that for the first
time in decades, Iran was breaching some of the requirements
as put out by the Non Proliferation Treaty. They also
(19:45):
announced that they were setting up yet another uranium enrichment facility,
so had been testing the waters for a while, which
is why ultimately you did end up getting the response
out of Israel and the surprise attack from the ranium
perspective on Thursday evening. But it would constitute a major
development and also just in terms of the ultimate objective
(20:07):
of this war or the series of attacks, which is
to stop Iran from developing the means of getting a
nuclear weapon. If they start pulling out of these treaties
and don't allow for instruction, inspections are monitoring the whole
thing could backfire, and some analysts are saying that the
reaction to this out of Iran could be even more hawkish.
(20:29):
It could actually even encourage them more so to develop
a nuclear weapon they had in the past, say than
if the US and Iran did manage to agree to
the terms of a new nuclear deal.
Speaker 8 (20:41):
So all of that is up for question now.
Speaker 3 (20:44):
And ethan, if that were to be the case, does
that raise a question of even further proxy attacks from
the likes of Hamas and Hezboala.
Speaker 14 (20:52):
Log it might, But the truth is that what's strike
striking right now is that Hezbala has not done a
thing which leans it really can't or it's really in
some fashion under such pressure internally in Lebanon not to
get involved.
Speaker 5 (21:07):
In this conflict.
Speaker 14 (21:08):
So one of the main reasons Israel shows to act now,
in addition to the things that Jaman have talked about
the fact that there's been this increasing amount of enrichment
up to weapons grade, is that the proxy militias were
not available to join into this war, as well as
the fact that the Iranian air defense system had been
(21:29):
largely been certainly reduced, if not stripped away entirely. So
I don't see that happening. But this question of the
MPT is enormously important. But at the same time, if
Iran is simply going to be openly seeking a nuclear weapon,
I think that would shift the American perspective as well
and whether it might want to get involved militarily.
Speaker 2 (21:49):
This is Bloombergy Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (21:56):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (22:02):
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.
Speaker 3 (22:17):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Atto interfaces.
Speaker 2 (22:23):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (22:36):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day, Bray
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today, Karen.
Speaker 3 (00:16):
Fighting between Israel and Iran is now into its fourth
day with no sign of easing. Iran has fired several
waves of drones and missiles over the last twenty four hours,
while Israel continued hitting the Islamic Republic's capital, Tehran, killing
one more senior military official Stuart Livingston Wallace heads are
Middle East coverage.
Speaker 4 (00:35):
It's a combination of what appear to be very precise
strikes by Israel on Iranian targets, and that largely encompasses
nuclear sides military sites. And it does appear at this
stage and given everything we've seen over the last four days,
that Israel now more or less has a free hand
within Iran, and it's been quite surprising, I suppose, how
little response Iran seems to have those strikes. And then
(00:59):
on the other side, it's been sort of throwing back
ballistic missiles and drones in very large quantities, and that
seems to be a lot less precise, I mean largely
the strategy there seems to be to try and overwhelm
Israel's rather impressive defenses.
Speaker 3 (01:13):
Bloomberg, Stewart Livingston Wallace reports the casualty toll is rising.
Iran's government says two hundred twenty four people have been killed,
while Israel says Iranian attacks killed twenty three people and
injured more than four hundred well Nathan.
Speaker 2 (01:27):
President Trump says he believes Israel and Iran could eventually
reach a peace agreement, but suggested they may have to
continue their conflict before coming to the negotiating table. The
President spoke to reporters as he prepared to board Marine one.
Speaker 5 (01:40):
I think it's time for a deal, and we'll see
what happens.
Speaker 6 (01:43):
But sometimes they have to fight it out. But we're
going to see what happens.
Speaker 3 (01:47):
I think there's a good chance he'll.
Speaker 2 (01:49):
Be a deal, President Trump, speaking before he left to
attend the G seven summit in Canada. The conflict threatens
to open a new rift at the high level gathering
of world leaders. We get more from Bloomberg. There's David
Gura in Alberta, Canada.
Speaker 7 (02:02):
Conflict in the Middle East is casting a shadow over
this meeting of the Group of Seven, even if it
hasn't scuttled the official agenda. Several world leaders have called
on Iran and Israel to de escalate the situation, and
it's unclear if the group will issue a formal statement
on the conflict. A broader joint communicate is not in
the cards. Prime Minister Mark Carney is being careful not
to upset President Trump, who withdrew from that agreement the
(02:24):
last time Canada hosted the G seven in twenty eighteen
in baff Alberta, Canada.
Speaker 8 (02:29):
I'm David Gura, Bloomberg Radio. All right, David, thank you.
Speaker 3 (02:32):
President Trump appears to be doubling down on his mass
deportation policy after a weekend of protests across the country.
In a truth social post last night, the President called
on ICE agents to expand deportations in the largest US cities,
including Los Angeles, New York, and Chicago. Democratic Senator Alex
Padia of California says the raids are going too far
(02:53):
for all.
Speaker 9 (02:53):
To talk about the focus and targeting of violent criminals.
If that's all the Trump administration was doing, there would
be not debate. As you're hearing more and more stories
of undocumented long term resident of the United States were
otherwise law abiding that's who's being targeted.
Speaker 3 (03:08):
California Senator Alex Padia appeared on CBS's Face the Nation
heard Sundays on Bloomberg Radio. Last week, President Trump appeared
to acknowledge the impact his policies have had on rural
communities and promised changes to protect farm and hotel workers.
Speaker 1 (03:21):
Nathan.
Speaker 2 (03:22):
A manhunt that lasted much of the weekend is over
in Minnesota. Suspect is in custody and the killing of
Democratic state lawmaker Melissa Hortman and her husband and the
shooting of State Senator John Hoffman and his wife. Minnesota
Governor Tim Walld says the suspect, fifty seven year old
Van Spoulterer, was arrested after a trail camera picked him
(03:42):
up near his farm. The FBI had been offering fifty
thousand dollars for information leading to his arrest.
Speaker 10 (03:48):
To the law enforcement who stand here and the hundreds
who were involved in this, the State of Minnesota owes
you a deep gread of gratitude. Thank you, you ran
towards the danger and you served the State of Minnesota.
Speaker 2 (04:02):
Governor wals announced the arrest last night. Authorities are still
investigating a motive behind the attack. A government document seen
by Bloomberg News points to a purported hit list at
the crime scene that included the names of several Minnesota
politicians and abortion providers in the state.
Speaker 3 (04:19):
Karen, let's turn to markets now. Futures are higher as
we kick off a new trading week, a week that
will be highlighted by a Fed decision. It's bringing Bloomberg
John Tucker with the very latest, John, good Morning.
Speaker 11 (04:29):
And Nathan. The Central Bank concludes it's two day meeting
on Wednesday. This is expected to hold rates steady this meeting,
but there could be some change in tone about possible
future cuts at Chairman Jerome Powell's press conference that follows
the meeting. Robert Dishner is with Newburger Berman.
Speaker 3 (04:45):
We're still of the belief the Fed's going to cut
twice this year. The forecast may move down to one
cut this year, But does then the Fed give the
market something for next year?
Speaker 8 (04:54):
Do they increase that to three cuts next year?
Speaker 11 (04:57):
Well, policy makers have been pretty clear before they could
make a move beneath the White House to resolve the
big question marks around Tarff's immigration and taxes. It is
there's a tax on a RN have also introduced another
element of uncertainty. Well, the FED meeting comes as President
Trump has turned up the pressure on Jerome Pal to
lower rates. A fourth straight meeting without a cut could
(05:17):
provoke another tie rate from the President, got to York,
Come John Tucker, Bloomberg Radio.
Speaker 2 (05:22):
John, thank you. In sports, it was quite a memorable
finish at the US Open in Oakmont. Let's spring in
Bloomberg Sports reporter John stash Hour with the dramatic details.
Speaker 8 (05:31):
John, Good morning, Mary Karen.
Speaker 6 (05:33):
It was an Open where all the golfers struggled against
the mighty Oakmont course, but it ended with a remarkable
sixty five foot pot on the last hole for the win.
Speaker 8 (05:42):
JJ Spon fall up and over the ridge. It's on
a very good line, just could go in J J
Spon makes sense. It's the biggest one in his career.
Speaker 3 (05:52):
JJ Spon conquers Oakmont And as you're one hundred and
twenty fifth US Open champion.
Speaker 6 (05:58):
US Open Radio, I had the call that was the
longest that anyone had made throughout the four rounds. It
left Spawn with the only underpar score and unlikely Open champion.
He only won one PGA tournament in his career. Well
here from him, coming up shortly, John Stashieware Bloomberg Sports.
Speaker 3 (06:13):
Yeah, it got to be one of the loudest golf
calls I've heard in quite some time. Thank you for that, John.
Back to markets now, we're watching shares of Caring. They
are hired by more than ten percent. In Europe, the
owner of the struggling Gucci fashion label is preparing to
name the chief executive officer of Renault as its next
CEO in a bid for a turnaround. Bloomberg News has
(06:33):
learned that Luca Demeyo is going to be appointed to
the job in the coming days. Watching shares of Renault,
they are down more than seven percent.
Speaker 2 (06:41):
Nathan, another activist investor, is seeking changes at Victoria's secret.
Bloomberg News has learned Barrington Capitol Group, which has built
a stake in the lingerie retailer, plans to push for
a board overhaul. Earlier this month, one of Victoria's secrets.
The largest investors BBRC International, also called for me board
changes and.
Speaker 3 (07:01):
Back in this country. Shares of Serepta Therapeutics. They are
down more than thirty six percent. That company paused a
clinical trial after a second patient died of acute liver
failure after being treated with Serepta's gene therapy for a
rare muscle disorder.
Speaker 8 (07:20):
And it's time now for a.
Speaker 2 (07:21):
Look at some of their stories making news in New
York and around the world, and for that were joined
by Bloomberg's Michael Barr Michael, Good Morning.
Speaker 12 (07:28):
Good Morning Karen. More than two thousand nationwide so called
No Kings events were held over the weekend. While most
were lawful, there was trouble at some. In Salt Lake City,
what started out as a peaceful protest turned into chaos.
Gunfire broke out, killing a thirty nine year old man.
There were confrontations between police and protesters in Portland, Oregon,
(07:50):
in Washington State, and in Atlanta. In Los Angeles, police
broke up crowds. The LAPD says thirty five people were
arrested for breaking the city and Poe curfew after crowds
turned out for the No King's protest. As he left
the White House yesterday to attend the G seven summon
in Canada, President Trump credited National Guard troops he activated
(08:12):
for peaceful protests in Los Angeles.
Speaker 2 (08:14):
They come and.
Speaker 6 (08:15):
They check, and they say, is the National Guard.
Speaker 12 (08:17):
Going to be there?
Speaker 9 (08:18):
And if the National Guards being there.
Speaker 6 (08:20):
They don't even show up.
Speaker 12 (08:21):
Meanwhile, the Mayor of Los Angeles, Karen Bass, credits the
curfew for keeping the peace. The jury in Karen Reid's
murder retrial returns to deliberations today. Read is charged and
the murder of her Boston Police officer boyfriend. In twenty
twenty two. The first trial ended in a hung jury.
The defense is raising concerns about the complexity of juror guidelines.
(08:44):
Heavy rain has killed at least five people in West Virginia,
including a three year old child. This person escaped a
flooded apartment building in Fairmont.
Speaker 1 (08:53):
First four of our building was completely flooded and all
of our belongings destroyed and gone. Have the dog that
stunts building and I know for us.
Speaker 12 (09:02):
Today and half the governor says several more people are missing.
Two top union leaders have quit their post in the
Democratic National Committee. According to The New York Times, it's
over a dispute with the party's new chairman, Ken Martin.
Randy Wegarden, leader of the American Federation of Teachers, and
Lee Saunders, head of the American Federation of State, County
(09:23):
and Municipal Employees, resigned Winegarden and Saunders had supported Martin's
competition for the Chairman's spot. Ben Wickler Global News twenty
four hours a day and whenever you want it with
the Bloomberg News. Now, I'm Michael Barne. This is Bloomberg Hert.
Speaker 2 (09:38):
All right, Michael barr thank you. It's time now for
the Bloomberg Sports Update. It's brought to you by Flushing
Bank and we bring in John Stanshauer.
Speaker 8 (09:45):
John, good morning again, Thanks Aaron.
Speaker 6 (09:48):
JJ Spahn had been a top or near the top
of the leaderboard throughout that US Open at Olkmont. He
began with that bogey free first round of sixty six.
His Open chances seem to have ended when he began
the final round with five bogies in the first six holes,
but others faltered. Sam Burns had a forty on the
back nine. Adam Scott of forty one spawn on the
par four seventeenth bowl, drove the green and his birding
(10:11):
foot him back on top. He sealed the wind with
that astonishing sixty five foot fun on the seventy second hold.
Very much a late bloomerspawn didn't make it to the
PGA Tour until he was twenty six, but he nearly
won the Players Championship, lost at the playoff to Rory McIlroy,
now at age thirty four, the Open champion.
Speaker 13 (10:27):
I never thought I would be here, you know, holding
this trophy. I mean, I've always had aspirations and dreams,
but like I said, you know, a few months ago,
I never knew who my ceiling was. I never knew
how good I could be. But I'm just proud that
I've been resilient in my career and pushed through a
lot of things and just trying to be the best
(10:48):
golfer I can be.
Speaker 6 (10:49):
Robert McIntyre, the leftief from Scotland, finished second, two shots behind.
Lost weekend, so the Yankees and match both got swept
for the first time this season. Yanks shutout in Boston
two nothing to They scored only four runs in three games,
the fewest they've had in a three game series at
Fenway Park in more than a century. Barrafio Devers homeward
for the Socks, and then after the game, Devers, in
a shocker, got traded to the Giants for some young players.
(11:12):
Devers within the second year of a ten year contract.
The Mets at City Field lost at Tampa a nine
to nothing. The race cord twenty four runs in the
three games, and when the Phillies trinisto sweep of Toronto,
they were just three games behind the Mets. They'll play
Game five of the NBA Finals tonight, the series tied
at two. They're back at Oklahoma City. But Indiana has
won seven of its last nine on the road, has
(11:33):
not lost too in a row in the playoffs. John
Stashanwer Bloomberg.
Speaker 2 (11:36):
Sports count Nick all right, John, thank you, and Bloomberg
Daybreak is brought to you by Flushing Bank. Life's more
rewarding with Flushing Banks complete cash rewards program for personal
and business accounts. With twenty nine New York metro locations,
there's nothing more rewarding. Visit Flushingbank dot com member FDI.
Speaker 1 (11:54):
See coast to coast on Bloomberg Radio, I'm serious exam
and around the world on Bloomberg dot Com and the
Bloomberg Business App. This is Bloomberg Daybreak.
Speaker 3 (12:07):
Good morning, I'm Nathan Hagar on another morning of intense
fighting between Israel and Iran. The hostilities have stretched into
a fourth day. Israeli Prime Minister Benjamin Natanya, who is
calling the conflict an existential campaign for his country.
Speaker 11 (12:22):
We can't have the world's most dangerous regime have the
world's most dangerous weapons.
Speaker 14 (12:26):
We're protecting ourselves, but by doing so, we're protecting many others.
Speaker 3 (12:30):
Israeli Prime Minister Benjamin Natanya, who's speaking there for the
very latest. We are joined by Bloomberg News Israel Bureau
chief Ethan Bronner in Tel Aviv and Bloomberg Horizons anchor
Jumana Burceci joining us from Dubai this morning. Good morning
to both of you. Ethan, I'll start off with you
just to get us up to speed on what we've
seen in just the last twenty four hours of fighting.
Speaker 4 (12:49):
Good morning, Good morning Nathan.
Speaker 14 (12:52):
Yes, there were some fairly serious a missile of barraz
Is here in Israel. I think the people were build
to day. The number of data and development twenty four
and some hundreds are injured.
Speaker 8 (13:07):
I think a look.
Speaker 14 (13:08):
Recently where just about a half a mile from my apartment,
pretty serious baraj missile fell.
Speaker 5 (13:16):
Beyond that. Israel has been attacking increasingly. It says it
took away it killed the intelligence a chief and his deputy,
and has expanded its attacks as well.
Speaker 3 (13:29):
And Jumana. What is the extent as far as we
know of the damage in Iran at this point. Ethan
just mentioned that another senior Iranian military official has been
killed as well. What is the possibility that Iran can
mount a major response to what's been happening.
Speaker 15 (13:44):
Yeah, if you look at the approach that Israel's Air
Force has been taken, they've been looking to target strategic bases,
be they some of the military bases, the surface to
air launcher, surface to air missile launch launchers have be targeted.
Some of those nuclear sites as well. The IA saying
over the course of the weekend that Isfahan, which is
(14:04):
one of the actually the only uranium conversion facility that
Iran has, was severely impacted and will set back their
ability to continue with the uranium enrichment process by several months.
So an operational success if you want to call it
from Israeli perspective there, But then in terms of intelligence
penetration as well, we talked about the fact that the
(14:27):
operation itself was months of worth of preparation, and on
the back of that you've seen some senior leaders, commanders
from the Revolutionary Guard get taken out. The numbers now
stands at six alongside some of those nuclear scientists as well,
who were key to the technological and scientific know how
(14:47):
with the nuclear development.
Speaker 8 (14:49):
And so from a military.
Speaker 15 (14:51):
Standpoint, defense standpoints, and also intelligence standpoint, you could say
that Israel has had a lot of operational success so
far and the f four days of this conflict, and we're.
Speaker 3 (15:01):
Just hearing from Israeli sources that they claim that they've
achieved aerial superiority now over Tehran Ethan. Of course, we've
heard from Israeli Prime Minister at Natan Yahoo that the
goal is to take out Iran's nuclear capability. What does
that suggest about how long this fighting could go on?
Speaker 14 (15:21):
I mean, the problem is that Israel alone cannot take
out Around's nuclear capability, at least as far as we know.
I mean, as you say, they now say they have
aerial freedom, and so maybe they could you plant their
F fifteen's or F thirty five's and just pop, pop pop.
But it seems unlikely that they could get into Florida,
(15:43):
which is deep, deep into a mountain, so it's very
hard to tell. I'm being told that there's intense diplomatic
effort both the Russians the Americans and others are trying
to get somewhere here to make this thing not go forward.
But just today, this National Scurity Advisor it is we're
all said on the radio that Auranseil has thousands of
ballistic missiles. If that's true, this could go on for
(16:06):
weeks and months.
Speaker 3 (16:07):
Juwana, From your perspective, what is the possibility of a
diplomatic breakthrough here? We've heard from President Trump on his
way to the G seven saying that it might take
a little bit more fighting between Israel and Iran before
there is a resolution.
Speaker 15 (16:23):
Yeah, and I mean also in that same post, President
Trump also spoke about Iran and Israel should make a deal,
and we'll make a deal. But then that many calls
and meetings are taking place. So we know is that
many of the Arab GCC states are actively trying to
intervene here. Iran called on Cutter, have been playing a
key mediation role in those Iran US nuclear discussions. Remember
(16:45):
the sixth round of talks we're supposed to take place yesterday,
They no longer happened.
Speaker 8 (16:49):
But as we understand now.
Speaker 15 (16:51):
Aman and Kuta are getting actively involved again to restart
those discussions now seemingly because Iran is on the back foot,
maybe they'd be more amiable to some of the terms
that the US are putting out. Saudi Arabia at their
part as well, I should just say two. I think
it is notable that even though there's been an intensification
of strikes between the two sides over the course of
the weekend, there hasn't been a broadening out into the
(17:14):
region so to speak.
Speaker 8 (17:16):
The energy infrastructure.
Speaker 15 (17:18):
Yes, there were a few facilities that were set alight
over the course of the weekend, but still no major
energy exporting facilities have been hit, none of the shipping
lanes in the Strait of Hormos have been disrupted, and
of course US bases have been spared. At this point
in time, so remains to be seen whether the diplomatic
(17:38):
channel will be successful, but for now, the attacks are
focused on the bilateral kind as opposed to Iran taking
it one step further and the risk of bringing in
the broader region into the conflict as well.
Speaker 3 (17:50):
From your perspective, Ethan, what are you seeing in terms
of the kind of leverage that the US could have
over Israel as it continues strategically a long with the
fighting against Iran. We heard the President or we heard
some reports that the President had discouraged Israel from going
after the iatola when he had the chance. What are
(18:13):
you hearing?
Speaker 14 (18:14):
Yes, Look, I mean I think that there is a
sort of a double game, not surprisedly being played by
President Trump here on the one hand, taking a public
posture against this kind of action. On the other hand,
from everything we've been able to learn privately saying to Ntonia,
who go ahead and do what you have to do,
I think that Israeli and a US interests do overlap
(18:35):
to some extent here. Neither wants to see a nuclear
weapon in the hands of this Iranian regime. So in
terms of you know what kind of ability Trump has
over in Tennaaro, he's an enormous amount in the sense
that Israel does not want to be taking these actions
without the agreement of the United States, and ultimately it
(18:55):
can't do what it.
Speaker 5 (18:56):
Needs to do without the help of the United States.
Speaker 14 (18:59):
So a lot, but I think, but the point is
that we don't know exactly what Trump wants out of
this operation, and my impression is he's doing both things
at once.
Speaker 3 (19:10):
Jumana Iran is reportedly moving toward no longer following the
Nuclear non Proliferation Treaty. Now we've been hearing those reports
as well. Where could this go from here?
Speaker 15 (19:22):
Yeah, and I think that is really important to know
in the run up to the attacks that took place
on Friday, because it wasn't a coincidence that that also
coincided with the IA report suggesting that for the first
time in decades, Iran was breaching some of the requirements
as put out by the Non Proliferation Treaty. They also
(19:45):
announced that they were setting up yet another uranium enrichment facility,
so had been testing the waters for a while, which
is why ultimately you did end up getting the response
out of Israel and the surprise attack from the ranium
perspective on Thursday evening. But it would constitute a major
development and also just in terms of the ultimate objective
(20:07):
of this war or the series of attacks, which is
to stop Iran from developing the means of getting a
nuclear weapon. If they start pulling out of these treaties
and don't allow for instruction, inspections are monitoring the whole
thing could backfire, and some analysts are saying that the
reaction to this out of Iran could be even more hawkish.
(20:29):
It could actually even encourage them more so to develop
a nuclear weapon they had in the past, say than
if the US and Iran did manage to agree to
the terms of a new nuclear deal.
Speaker 8 (20:41):
So all of that is up for question now.
Speaker 3 (20:44):
And ethan, if that were to be the case, does
that raise a question of even further proxy attacks from
the likes of Hamas and Hezboala.
Speaker 14 (20:52):
Log it might, But the truth is that what's strike
striking right now is that Hezbala has not done a
thing which leans it really can't or it's really in
some fashion under such pressure internally in Lebanon not to
get involved.
Speaker 5 (21:07):
In this conflict.
Speaker 14 (21:08):
So one of the main reasons Israel shows to act now,
in addition to the things that Jaman have talked about
the fact that there's been this increasing amount of enrichment
up to weapons grade, is that the proxy militias were
not available to join into this war, as well as
the fact that the Iranian air defense system had been
(21:29):
largely been certainly reduced, if not stripped away entirely. So
I don't see that happening. But this question of the
MPT is enormously important. But at the same time, if
Iran is simply going to be openly seeking a nuclear weapon,
I think that would shift the American perspective as well
and whether it might want to get involved militarily.
Speaker 2 (21:49):
This is Bloombergy Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (21:56):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (22:02):
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.
Speaker 3 (22:17):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Atto interfaces.
Speaker 2 (22:23):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (22:36):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day, Bray
Popular Podcasts
Bookmarked by Reese's Book Club
Welcome to Bookmarked by Reese’s Book Club — the podcast where great stories, bold women, and irresistible conversations collide! Hosted by award-winning journalist Danielle Robay, each week new episodes balance thoughtful literary insight with the fervor of buzzy book trends, pop culture and more. Bookmarked brings together celebrities, tastemakers, influencers and authors from Reese's Book Club and beyond to share stories that transcend the page. Pull up a chair. You’re not just listening — you’re part of the conversation.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com