Iran Calls Lebanon Attacks a Violation, Consumer Spending, More

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Bloomberg News Now 8 min 10 speakers 5 chapters transcribed 5 months ago
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Stephen Carroll 0:00
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
Caroline Hepke 0:05
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
Stephen Carroll 0:10
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
Caroline Hepke 0:15
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
Stephen Carroll 0:21
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
Caroline Hepke 0:27
And from London, I'm looking at what all that means for markets, money and the wider economy.
Stephen Carroll 0:33
We've got reporters across Europe and around the globe feeding in as stories break.
Caroline Hepke 0:37
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
Stephen Carroll 0:43
It's smart, calm and to the point.
Caroline Hepke 0:45
And it fits into your morning.
Stephen Carroll 0:46
You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris on Apple, Spotify, YouTube or wherever you get your podcasts.
Karen Moscow 1:01
News when you want it with Bloomberg News Now. I'm Karen Moscow. Iran's foreign minister is again asserting that Israel's renewed attacks on Lebanon is a clear violation of the ceasefire agreement that was reached with the U.S. U.S. officials disagree. This is the two sides head for talks this weekend on a plan to firm up the fragile truce. Bloomberg Israeli Bureau Chief Ethan Broder says Israel's recent attacks on Beirut should not be a deal breaker.
Ethan Brawner 1:28
Look, I think they're an obstacle, but I would be surprised if they derailed the truce. I think that the core issue here is the Strait of Hormuz, the global movement of oil and, you know, these larger Gulf issues rather than what to some extent, has been a sideshow in Lebanon and Hezbollah. So, you know, it's something that's going to be on the table, but I don't think it's going to be the thing that will cause the problem.
Karen Moscow 1:54
And that's Bloomberg's Ethan Brawner. U.S. and Iranian officials are set to begin talks on Saturday. Vice President J.D. Vance is expected to lead the American delegation. White House economic advisor Kevin Hassett commented to Fox News this morning.
Kevin Hassett 2:08
We are working forward with the Iranians on something that could be a really great deal. And we've got the best people in the business there negotiating. And one of the things that is on the table is that if you look at the welfare of Iranians and compare it to the welfare of people around them, like the Turks, that it's way, way low. And then if you factor in the fact that if you have a little bit of political protest, then they'll torture you and kill you. It's a very, very bad place to be an Iranian citizen.
Karen Moscow 2:35
And that's White House economic advisor Kevin Hassett who tells Fox News he hopes a final deal with Tehran could be wrapped up by this weekend and he still sees 4 to 5 percent economic growth this year despite the war. All this comes as the street of Hormuz remains effectively shot as ship owners await clarification on the status of the key waterway. In an interview with ITV, Iran's deputy foreign minister said oil tankers and other vessels seeking to transit the strait must make contact with the Iranian military to ensure their safe passage. He said there are, quote, technical restraints resulting from the conflict, such as mines that require caution. Oil, meanwhile, is rebounding this morning.
Karen Moscow 3:16
NYMEX crude oil is up more than 5%. It's at $99.24 a barrel. Brent is up more than 3.5% at $98. The U.S. is looking for specific commitments within days from European allies who have pledged to help secure the Strait of Hormuz after the Iran war. That's what a senior NATO official is telling Bloomberg News after an apparently tense meeting between President Trump and NATO Secretary General Mark Ruda at the White House. We get more with Bloomberg's Tyler Kendall in Washington.
Tyler Kendall 3:47
There has just been so much tension when it comes to the transatlantic military alliance, including that President Trump has threatened to withdraw the U.S. from NATO. Now, that may be easier said than done.

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