August 4, 2025: Texas Redistricting Fight Escalates, DOJ 'Russiagate' Probe, More

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Speaker 1 (00:01):
News. Would you want it with Bloomberg News Now, I'm
Denise Pelgriney. We begin in Texas, where Governor Greg Abbott
has ordered the arrest of Democratic lawmakers who left the
state to block a controversial vote on new congressional maps.
Those Democrats left Texas for Illinois and other states. They
say the GOP map is a partisan power grab and

(00:22):
that Abbott has no legal grounds. Their departure leaves the
legislature without a voting quorum. Julie Fine, Bloomberg's Texas Bureau chief,
is tracking developments.

Speaker 2 (00:31):
Texas Republicans who remain in the state actually went to
the House. They did not have a quorum, and they
started the process there. There was a motion that compels
the Sergeant of Arms to have arrest warrants for the
Democrats that are not in the state.

Speaker 1 (00:47):
Bloomberg's duly Fine reporting from Dallas. The arrest warrants fall
to the Texas Department of Public Safety. The jurisdiction ends
at the state border for that though, Abbot's move escalates
the standoff with Democrats, who describe the plan as a
jerrymander designed to give Republicans more seats in Congress. Meantime,
Missouri Republicans are considering a redistricting plan similar to the

(01:09):
one in Texas. The President Trump is pushed to bolster
GOP chances, and on the other hand, California Democrats are
vowing to fight fire with fire, pushing a plan to
redraw the state's congressional boundaries to counter the Republican redistricting
effort in Texas if necessary. The Justice Department is opened
a criminal investigation into claims national security officials participated in

(01:32):
a conspiracy to link President Trump to Russia's election interference
and undermine his legitimacy. Director of National Intelligence Telsey Gabbert
claims officials working under former President Obama manufactured and politicized
intelligence to lay the groundwork for what was essentially a
year's long coup against President Trump. The Justice Department's investigation

(01:53):
will use a grand jury. It's not clear what actions
are under investigation or where the case will be presented.
President Trump says he'll be substantially raising the tariff on
Indian exports to the US that he says is over
New Delhi's purchases of Russian oil, ramping up his threat
to target a major trading partner we get the latest
from Bloomberg's Jill Deesis in Hong Kong.

Speaker 3 (02:15):
Really quite a reversal from just earlier this year, when
India was one of the first out of the gate
to try to negotiate something with the US. We saw,
you know, Mody and Trump meet, you know, obviously a
much different situation now, and it really does kind of
seem to be in large part driven by Trump's desire
to really kind of drive an end to Russia's war
in Ukraine.

Speaker 1 (02:35):
Bloomberg's Jill Jesus reporting. Last week, President Trump slapped a
twenty five percent rate on Indian exports, shocking New Delhi
after months of negotiations failed to secure a breakthrough. He
also threatened further action if India continued to buy oil
from Russia. In a statement, India's Foreign Ministry calls the
targeting of its nation quote unjustified and unreasonable. We got

(02:58):
to earnings next after the Palantine Technologies reporting a forty
eight percent jump in second quarter revenue to over a
billion dollars, topping Wall Street estimates. Palenter also raising its
full year outlook to as much as four point one
five billion dollars. MANDEEP seeing global head of Tech Research
for Bloomberg Intelligence.

Speaker 4 (03:16):
They are growing nicely into that valuation. When you are
growing forty eight percent in the quarter, it's very nice,
but you have to sustain that for fifty next fifty
quarters to be able to get to you know, fifteen
time sales, which is a much more reasonable valuation software.

Speaker 1 (03:33):
Evaluation mandeep Seing of Bloomberg Intelligence. There Palenter CEO Alex
Karp says breakthroughs in large language models and demand from
defense and commercial clients is fueling that momentum. Palenter says
growth was particularly strong in the US, where sales jump
sixty eight percent to seven hundred and thirty three million
bucks shares a pal Andeer up about four percent in

(03:56):
late trading and sticking with tech, the US is exploring
ways to equip chips with better location tracking capabilities. That's
according to Michael Kratzios, the director of the White House
Office of Science and Technology. He spoke earlier to Bloomberg.

Speaker 5 (04:11):
There's been an effort by our Commerce Department to step
up enforcement and something that we need to continue to
do more of. Smuggling is illegal, and we need to
make sure that any country around the world that has
an export license for a particular chip, adheres to that license,
and those chips don't end up in places they shouldn't.

Speaker 1 (04:29):
Michael Kratzios is the director of the White House Office
of Science and Technology. The initiative part of a broader
plan to curtail smuggling and maintain US tech dominance by
working with the industry to monitor the movement of sensitive components.
And that's news when you want it with Bloomberg News now,
I'm Dediz Pellegrini. This is Bloomberg