The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. The White House insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. “The United States has been engaged over the last three days in productive conversations,” White House Press Secretary Karoline Leavitt told reporters on Wednesday. “You’re beginning to see the regime look for an exit ramp.”“If Iran fails to accept the reality of the current moment,” Leavitt added, “Trump will ensure they are hit harder than they have ever been hit before. President Trump does not bluff and he is prepared to unleash hell.” Her comments ran counter to Iran’s earlier statements through state-run media publicly rejecting Trump’s push for talks. Tehran is also seeking its own guarantees, including that the US and Israel won’t resume their attacks, reparations for war damages and recognition of its authority over the Strait of Hormuz, state-owned Press TV said. Trump on Monday set a five-day deadline for Iran to negotiate a deal to end the war. Halfway through that period, there are lingering questions over the status of negotiations and the likelihood for a deal. The US has compiled a 15-point peace proposal that Pakistan delivered to the Islamic Republic, according to people familiar with the matter, highlighting the urgency within Trump’s administration to resolve a conflict it started alongside Israel almost a month ago. Leavitt on Wednesday said there were “elements of truth” to the reported US proposal, but cautioned against speculating on anonymously provided plans. Vice President JD Vance may travel to Pakistan for Iran talks this weekend, CNN reported. Asked for comment on that report, Leavitt said “this is a fluid situation, and speculation about meetings should not be deemed as final until they are formally announced by the White House.” Today's show features: Michelle Jamrisko, Bloomberg News White House and National Security Editor Dan Letter, CEO of Prologis Rachel Metz, Bloomberg News AI Reporter on OpenAI Discontinues Support for Sora, Winds Down Disney Deal June Grasso, Bloomberg Law host, on Meta, Google Found Liable in Social Media Addiction Case See omnystudio.com/listener for privacy information.

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