Arrest of Former Prince Andrew, US Trade Deficit Widens, More
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News when you want it with Bloomberg News Now. I'm Karen Moscow and we have breaking economic news crossing the Bloomberg. But first, Andrew Mountbatten-Windsor, the brother of the UK's King Charles, has been arrested on suspicion of misconduct in public office. After further details emerged of his relationship with convicted sex offender Jeffrey Epstein, King Charles III issued a statement outlining his deepest concern about the matter and promising Buckingham Palace's full and wholehearted support and cooperation with the investigating authorities. Michelle Hussain, host of Bloomberg's The Michelle Hussain Show, was a guest on Bloomberg's surveillance and has more on what this means for the royal family.
Even though they have taken steps to distance themselves from Andrew Mountbatten-Windsor, this will no doubt be a really difficult moment. You know, public support for the monarchy is widespread in this country, but it does rather depend on an unspoken assumption that everyone is going to behave really well. And when you're in this kind of territory, it obviously has implications for the institution more widely than one individual.
And that's Bloomberg's Michelle Hussain. Today happens to be Andrew's 66th birthday. His arrest appears to be the first of a UK royal since King Charles I in the 17th century following his defeat in the English Civil War. Right now, the former Prince Andrew has not been charged. Catherine Rumler, who resigned last week as the top lawyer at Goldman Sachs, corresponded with Jeffrey Epstein about a prostitution scandal that engulfed the U.S. Secret Service during her tenure as White House counsel under former President Barack Obama. In a dozen or so exchanges that were sent months after Rumler left her White House position in 2014, she complained to Epstein about this, quote, secret service crap. and forwarded to him a draft email that contained detailed non-public information about the behind-the-scenes role the White House Counsel's Office played in investigating the 2012 prostitution scandal.
Billionaire Lex Wexner gave a closed-door deposition to House Oversight Committee Democrats about his ties to the disgraced financier. He said he visited Epstein's private island once but did not know about any sex trafficking and could not recall many details about their relationship, including his significant financial support for Epstein. Robert Garcia is the committee's top Democrat.
There is no single person that was more involved in providing Jeffrey Epstein with the financial support to commit his crimes than Les Wexner.
And Democrat Robert Garcia spoke to reporters in Ohio where Wexner agreed to testify under an agreement with the committee. Bill Gates has pulled out of a speech at a high-profile AI summit in India. The Gates Foundation did not mention the Microsoft co-founder's own ties to Epstein when it made the announcement, but it says the decision was made after careful consideration and to ensure the focus remains on the summit's key priorities. President Trump convenes his Board of Peace today with representatives from more than 40 countries and observers from a dozen more. The inaugural meeting will focus on reconstruction and building an international stabilization force for the war-battered Gaza, where a shaky ceasefire deal persists.
Former South Korean President Yoon Suk-yool faces life in prison this after he was found guilty of leading an insurrection with his 2024 martial law declaration. It's a move that shocked the nation and triggered the country's most severe political crisis in decades. Now to that breaking economic news, we want to get the latest with Bloomberg's Michael McKee.
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