French and Spanish Wildfires Continue, Oil Declines on US-Iran Pause, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Caroline Hepker.
And I'm Stephen Carroll.
Firefighters in France and Spain are preparing for a six-day battling wildfires as hotter weather threatens to fuel the blazes. More than 300,000 people have been evacuated from the areas affected with French authorities warning an uncontrolled fire is heading towards the city of Bordeaux.
How severe are the wildfires in France and Spain and who has been evacuated?
These people have been sheltering in an exhibition hall in the area.
The police arrived and told us we had to go with them. They brought us to stay here for a few days. We don't know how long. Yes, we're worried because the fire isn't stopping. People tell us one thing and then another. We don't know. There's no information. So we're waiting. What else can we do?
The blaze has become so unpredictable that officials say that it's creating its own weather system. Local officials this morning say that the fire has remained largely stable overnight. In Spain, the country's biggest wildfire on record has burnt around 50,000 hectares south of Madrid. Spain's Prime Minister Pedro Sanchez says there are still challenging hours ahead.
The scale of disaster we're experiencing once again in our country is sadly very difficult to comprehend. Yesterday we reported 130,000 hectares had been affected and burned so far this year. Today that figure has already risen to more than 150,000 hectares.
Pedro Sanchez speaking via a translator as more than 1,500 soldiers were deployed to help firefighters while dozens of roads have been closed. Forecasters say the temperatures are set to rise again this week, raising fears that the fires could spread even further.
Oil prices slumped after the United States paused strikes against Iran, halting a 13-day bombing campaign that had rattled energy markets. Iran says it's also suspending retaliatory attacks, while officials from Tehran and Oman have resumed talks aimed at restoring shipping through the Strait of Hormuz. The news pushed Brent crude briefly below $90 a barrel, currently trading around $91.50. Speaking to NBC's Meet the Press, U.S. Ambassador to the United Nations Mike Waltz insisted President Trump has not totally ruled out further military action.
The president is keeping all options on the table. I've spoken with the negotiators. I've spoken with Secretary Hegseth. What the president is doing right now, as we've seen all along, is giving some talks some space. Talks are ongoing. They're happening at every level, from the more technical aspect of it all the way to the highest levels, of course.
Mike Waltz speaking to NBC. Despite the pause in U.S. and Iranian attacks, traffic to the Strait of Hormuz remains essentially paralyzed, while Yemen's Iran-backed Houthi militants claim they've attacked Saudi energy facilities.
The suspect in a deadly van attack on Berlin's Pride event over the weekend has been shot dead by police. Abdul Balut was tracked to an allotment in the German capital yesterday evening where he was killed after rushing towards officers with a weapon. Chancellor Friedrich Merz says the country won't be intimidated.
This is poison for our freedom. It is continuing to attack our society.
Why do officials say the French blaze is creating its own weather system?
Any party political differences can be set aside. We will defend the freedom of our society.
Germany's Friedrich Merz there speaking via a translator. The shooting came after a manhunt that stretched from central Berlin to Germany's borders with authorities publicising Balut's photo and taking the unusual step of releasing his full name. Officials say the German citizen had links to the Islamic State group.
Just some breaking earnings news now. AstraZeneca has reported second quarter core earnings per share that have beat estimates $2.63. The pharma giant says it's on track to deliver its ambition of $80 billion in revenue by 2030. The company reconfirming its revenue and core APS guidance for the full year.
China's biggest memory chip maker has opened 472% higher in its Shanghai stock market debut. The surge made CXMT China's largest onshore listed company with a valuation of around $487 billion.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:22
2
How severe are the wildfires in France and Spain and who has been evacuated?
0:22–3:18
3
Why do officials say the French blaze is creating its own weather system?
3:18–4:24
4
How many hectares have Spain's wildfires burned and what is the government response?
4:24–6:19
Speakers
4 identifiedMore from Bloomberg News Now
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