Former Prince Andrew Arrested, US Pressures Iran, More
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with a developing story out of the UK. The BBC is reporting Andrew Mountbatten-Windsor, the brother of King Charles, has been arrested on suspicion of misconduct in public office after further details of his relationship with convicted sex offender Jeffrey Epstein. Thames Valley police have released a statement saying they have arrested a man in his 60s They say they will not be naming him as per national guidance. We get more from Bloomberg's Tiwa Adebayo in London.
It's an unprecedented development here. You have to look back to medieval times in the UK. For the last time, a member of the royal family was formally arrested in this manner. Of course, Mr Mountbatten-Windsor has had all of his formal titles removed. It comes after really mounting pressure on the royal family and the country to engage Mr Mountbatten-Windsor to cooperate with authorities investigating those crimes committed by disgraced financier Jeffrey Epstein.
Bloomberg's Tua Adebayo reports the former Prince Andrew has consistently and strenuously denied any wrongdoing.
And there's more fallout in the U.S. from the Epstein files. Nathan, billionaire retail mogul Les Wexner testified behind closed doors about his relationship with the late sex offender to Democrats on the House Oversight Committee. The former CEO of L Brand said he visited Epstein's private island once with his wife and children, but was unaware of any sex trafficking operation. And he repeatedly said he could not recall... details of his relationship with the late sex offender, including giving him considerable financial support. Arizona Democrat Yasemin Ansari says it's all on record.
He allowed Jeffrey Epstein to live in his homes, to have hundreds of millions of his dollars, to use his yachts and his planes. This was obviously a very, very close relationship. And so far, what we have seen is a denial of that relationship.
Congresswoman Yasemin Ansari spoke to reporters from Ohio where Wexner agreed to testify under an agreement with the committee. The Justice Department named Wexner as one of 10 co-conspirators in its 2019 investigation into Epstein. Wexner was not charged in the case and says he was duped by Epstein.
Meanwhile, Karen, Bill Gates has backed out of a speech at a high-profile AI summit in India just hours before he was due to speak. In a post on X, the Gates Foundation said the Microsoft co-founder made the decision to make sure the focus remains on the event's key priorities. Gates has come under criticism for his ties to Epstein. The Gates Foundation did not mention the financier in its statement, but Gates has called his relationship with the late sex offender a huge mistake.
What led to the arrest of Prince Andrew in the UK?
Nathan, we're watching oil. It's on the rise again after gaining the most since October yesterday. West Texas Intermediate at $66.07 a barrel this morning while Brent is above $71. The rally comes after Axios reported the Trump administration is closer to a major war in the Middle East than most expect. Axios says a U.S. operation would likely be a weeks-long campaign. And we get more from Bloomberg's managing editor, Paul Wallace, in Dubai.
It sounds as if Iran has roughly two weeks to get back to the Americans, and then if they're broadly satisfied, the Americans will say, okay, let's go to round three, and we don't know where that will be. But of course, there are plenty of people, including in the oil market, who think America might be essentially trying to lull Iran into a false sense of security and maybe willing to strike the country before Iran returns with those proposals. In some senses, that echoes what happened in June last year with the 12-day war between Iran and Israel and then America at the end.
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