Big Commitments for Gaza, Former Prince Andrew Arrested in UK, More
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News when you want it with Bloomberg News Now. I'm Dan Schwartzman. President Trump convened his Gaza Board of Peace this morning for the first time with representatives from more than 40 countries and observers from a dozen more. Trump says nine members agreed to pledge $7 billion for the Gaza relief package, while the U.S. will donate $10 billion. Trump talked about possible peace in the region.
For years, you've been hearing about peace in the Middle East and everybody who's saying it's impossible. All of these countries are working together around the vision of a Middle East that is free from the curse of extremism and terror.
The president also says Hamas will be harshly met if they don't give up weapons. Meanwhile, the U.S. is deploying a huge force in the Middle East to put pressure on Iran, including two aircraft carriers, fighter jets and refueling tankers, giving President Trump the option for a major attack against the Islamic Republic. Trump discussed the nuclear talks.
Good talks are being had. It's proven to be over the years not easy to... make a meaningful deal with her. And we have to make a meaningful deal. Otherwise, bad things happen. But we have to make a meaningful deal.
That's President Trump speaking in Washington. Disgraced former Prince Andrew, the brother of the U.K. 's King Charles III, was arrested on suspicion of misconduct in public office after further details emerged about his relationship with convicted sex offender Jeffrey Epstein. Bloomberg's Tiwa Adebayo talked about the fall of the former prince.
Andrew Mountbatten-Windsor is a member of the royal family in terms of lineage, but officially he was stripped of his royal titles back in October 2025. Again, that is not an action with historical precedence. There were even legal questions raised here in the UK about removing a title like that granted at birth. And he has been the subject of a lengthy fall from grace. It was also in October last year that King Charles asked him to move out of the Royal Lodge. That's the home that he shared with his ex-wife, the former Duchess of York, Sarah Ferguson, since 2003.
What are the key commitments made for Gaza relief?
Bloomberg's Tiwa Adebayo in London. King Charles III has also issued a statement confirming the investigation. He says the law must take its course and the authorities will have the royal family's full support and cooperation. Federal Reserve Bank of Minneapolis President Neil Kashkari says recent comments by National Economic Council Director Kevin Hassett, which were critical of a New York Fed study on tariffs, undermines the central bank's independence.
Over the last year, we've seen multiple attempts to try to compromise the Fed's independence, including in December when the Department of Justice served a subpoena to the Board of Governors over some building expenses. It's really about monetary policy, that we are doing our very best to make the best assessment of the economy based on data and analysis.
That's Federal Reserve Bank of Minneapolis President Neil Kashkari. Hassett had called the study, which showed U.S. companies were bearing most of the burden from President Trump's tariff hikes, an embarrassment. Amazon officially dethroning Walmart as the biggest global company by revenue. The e-commerce giant reported 2,025 sales of $717 billion, while Walmart reported sales of $713.2 billion. Amazon's growth rests largely on the importance of its cloud computing business, Amazon Web Services, which contributed to its revenue dominance. Amazon's revenue has increased at almost 10 times the pace of Walmart's, fueled by a shift in consumer spending from stores to websites, as well as the cloud computing business.
Despite all the Trump tariffs, the U.S.
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