Iran Talks to Begin Monday, AstraZeneca, Bristol Myers Talk Deal, More
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What is the main topic discussed in this episode?
AI is entering its most consequential phase where scale, safety and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor, Salesforce, and supporting sponsors, IDA Ireland and Schneider Electric. Learn more at BloombergLive.com slash TechLondon.
News when you want it with Bloomberg News Now. I'm Charlie Pellett. A major sell-off for crude oil after President Trump said new talks with Iran will begin Monday, this after he called off a planned attack on the Islamic Republic. Brent for October fell as much as 7.3%. Now on Air Force One, the president said he called off a massive attack on Iran after allies in the Middle East, including Saudi Arabia, asked him to pursue a deal instead. And with more, here's Bloomberg White House correspondent Jeff Mason.
If they had gone ahead with this, no doubt it would have had another impact on oil prices. We are inching closer to those midterms. And Republicans are not eager to see a massive escalation. That said, it is another example of a taco withdrawal, as it were, or a stand down. And that's not really great for President Trump either.
Jeff Mason on Bloomberg this weekend. Sources tell Bloomberg AstraZeneca of the United Kingdom has explored an acquisition of Bristol-Myers Squibb in a mega deal that would create one of the world's largest drug makers. Those sources say the companies have held early stage discussions about combining, but it's unclear if those discussions are ongoing or whether they will result in a transaction. Bristol-Myers Squibb has a $133 billion market cap AstraZeneca has a market value of about $264 billion. Capital One says in a court filing that it closed accounts belonging to President Trump's real estate company in 2021 for legitimate reasons after an internal review by the bank's anti-money laundering team.
And with more, here's Bloomberg's Ed Kalecki.
The lender made the revelation in a filing asking a judge to toss out a Trump organization lawsuit accusing it of illegally debanking the president's company because of political discrimination following the assault on the Capitol by his supporters on January 6, 2021. Capitol One, which denies discriminating against Trump's business, said the internal review was triggered by transaction patterns that are among the types of activity flagged by federal banking guidance. The bank said it's only making the anti-money laundering review public now because of the litigation. The filing does not give details about the transactions at issue or accuse Trump or his company of wrongdoing. Ed Kalecki, Bloomberg Radio.
Hungary is shutting down its sole nuclear power plant due to record low levels of the Danube River, causing a shortage of water for cooling. Now, this plant accounts for 40% of Hungary's electricity generation. Among the names reporting this week, Uber Technologies, a preview from Bloomberg's Denise Pellegrini.
Uber reports on Wednesday and gross bookings growth should stay above 21% for a fourth straight quarter. Truist says company's $14.8 billion delivery hero acquisition will expand Uber's global footprint, adding a complementary set of markets with some 50 million additional customers. Uber's Robotaxi strategy will be in focus following the end of its tie-up with Waymo. Citizen says while largely expected, the end of the partnership will see the two companies become direct competitors when the last of Waymo's vehicles leave Uber's platform in 2028.
Why did oil prices plunge after Trump said talks with Iran will begin Monday?
Rival Lyft, also based in San Francisco, will also report this coming week. In New York, Denise Pellegrini, Bloomberg Radio.
On the economic front, consumer sentiment rose to a five-year high in July, as measured by the University of Michigan. But consumers remain concerned about artificial intelligence. Joanne Hsu is Director of Surveys at the University of Michigan.
It's really a mix of views.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–3:43
2
Why did oil prices plunge after Trump said talks with Iran will begin Monday?
3:43–4:50
3
What did President Trump say about calling off a planned attack on Iran and why?
4:50–6:04
4
How could a Trump escalation have affected midterm politics and oil markets?
6:04–7:09
Speakers
7 identifiedMore from Bloomberg News Now
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