Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
And Karen, oil is on the rise again after gaining the most since October yesterday. This morning, West Texas Intermediate is up 1%. That's as Axios has 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. We get more from Bloomberg Managing Editor Paul Wallace in Dubai.
It sounds as if Iran has you know 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 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. Because that's, 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. That war happened when, or at least it started when, the U.S. and Iran were in the middle of nuclear talks.
Bloomberg's Paul Wallace says the U.S. has announced visa restrictions on Iranian officials and executives for repressing recent anti-regime protests and cutting off Internet access.
Now, Nathan, to the latest fallout from the Jeffrey Epstein files. 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. key details of his relationship with the late sex offender, including giving him considerable financial support. Arizona Democrat Yasemin Ansari says it's all on the record.
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Chapter 2: What are the latest developments in the Iran conflict?
The Justice Department named Wexner as one of the 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.
Nathan, let's get to the latest in the search for Nancy Guthrie. It's been 19 days since the mother of today's show host, Savannah Guthrie, was last seen at her home near Tucson. Police are still looking for new leads as they sort through upwards of 50,000 tips. Pima County Sheriff Chris Nanos spoke with BBC News.
I think she's somewhere here in our community. Locally? Yeah. What makes you think that? I just do. I don't know why. I don't have any evidence to prove that, but I just believe that she's somewhere here locally.
Pima County Sheriff Chris Nanos speaking to the BBC. The sheriff has come under some criticism for his handling of the investigation.
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Chapter 3: What insights did Paul Wallace share about U.S. actions towards Iran?
He declared the scene at Nancy Guthrie's home done three days after her disappearance, only to return later. And he has not held a news conference in almost two weeks. In an interview with The Wall Street Journal, Nanos said some of the criticism is politically motivated and, in his words, haters are going to hate.
Karen, Meta CEO Mark Zuckerberg has testified in a social media and safety trial in Los Angeles. He says it's very difficult to enforce Instagram's age limits. But Zuckerberg says Meta has introduced some proactive tools to try to identify and remove accounts that violate the rules. But he calls it a challenging problem. Bloomberg's Kurt Wagner says this is a signature moment for social media.
To kind of be challenged with these allegations and in Mark Zuckerberg's case to defend himself and his company against these accusations. And so it's been highly watched, highly anticipated. And this is just really the first of more than a thousand potential trials that we could see.
Bloomberg's Kurt Wagner says this trial centers on a 20-year-old woman who blames Meta's Instagram and Google's YouTube for her years of mental health struggles.
Well, Nathan, Bloomberg News has learned OpenAI is close to finalizing the first phase of a new funding round that's expected to bring in more than $100 billion. Sources say the overall valuation of the company, including the eventual funding, could exceed $850 billion. Brad Smith is vice chair and president of Microsoft, a key OpenAI partner, and he says the chat GPT maker is branching out.
It's not as exclusive as it was, say, a few years ago. OpenAI uses our compute. They train models in our data centers, but they work with other companies as well. We critically rely on OpenAI's frontier models. They are among the best. In many days, they are the best in the world. But we have a relationship with Anthropic.
Microsoft's Brad Smith made the comments earlier in an interview with Bloomberg. And you can check out that interview as well as the live streaming news, all our Bloomberg TV shows, documentaries and more. It's all in one place at Bloomberg.com forward slash videos.
And we have this red headline crossing the Bloomberg terminal. Karen, the BBC is reporting that the UK's former Prince Andrew has been arrested. on suspicion of misconduct in public office. The report shows cars arriving at the former prince's Sandringham estate.
It comes after local police said they were assessing a complaint that the former prince may have shared confidential material with the late sex offender Jeffrey Epstein. Andrew has denied any wrongdoing. Again, the BBC is reporting former Prince Andrew of the UK has been arrested on suspicion of misconduct in public office.
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Chapter 4: What are the implications of the Jeffrey Epstein files fallout?
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