Key Saudi Arabian Pipeline Starts Exports, Nvidia’s AI System, More
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What breaking news is opening the Bloomberg Tech London briefing?
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 Island and Schneider Electric. Learn more at BloombergLive.com slash. Slash Tech London.
News when you want it with Bloomberg News Now. I'm Karen Moscow, and we begin with some breaking news.
How is Saudi Arabia resuming oil exports via the repaired East‑West pipeline?
Sources tell Bloomberg, Saudi Arabia, has started exporting oil using a key cross-country pipeline after the link was repaired following drone strikes earlier this month. We're told state-run Saudi Aramco was last week testing the East-West pipeline and building pressure with the aim of resuming meaningful flows by the weekend. Overseas shipments have now reportedly resumed. We do have new developments this morning in the Middle East. Iran is sticking to its seven day proposal for reopening the crucial Strait of Hormuz, while President Trump sent mixed signals about his willingness to reach a deal. We had more with Bloomberg Middle East correspondent Abir Abu Omar.
From the Iranian side, we also have heard from the Foreign Minister Abbas Rakshi, who said that diplomacy is always on the table. Iran prefers diplomacy, prefers to go back to the negotiating table, but that he doesn't see a way for it. Now separately, President Trump apparently also told Axios in a phone interview over the weekend that some talks may come back this week. And of course, that remains key for us to watch out for if And that's
Bloomberg Middle East correspondent Abir Abu Omar. Oil rising on the latest developments.
What are the latest diplomatic moves by Iran and President Trump on the Strait of Hormuz?
Taking a look at Brent, it is up three point three percent at one hundred seven dollars seventy seven cents a barrel, West Texas intermediate at ninety five dollars seventy one cents. The US and China have detailed a plan to cut tariffs on about thirty billion dollars of imports from each nation. We get more from Bloomberg Chief Asia correspondent Stephen Engel.
They have made some progress on this board of trade, and they're trying to reduce tariffs on some non-critical or non-sensitive items, so toys from China and maybe some other products uh from the United States, like agricultural products going to China. And it's a like for like. So thirty billion dollars in products from each country going to the other. There was also news over the weekend about the United States. States saying essentially that uh China would buy about 10 million metric tons of coal. That also under I I would assume the the Board of Trade. So they're really furthering this mechanism which it was first proposed, at least publicly, in the May summit in Beijing.
How are the United States and China negotiating tariff cuts on $30 billion of trade?
Now they're fleshing it out, uh really formalizing it.
And that's boomer Steven Engel, who says the expected tariff relief on sixty billion dollars in bilateral trade is a fraction of the four hundred and fifteen billion dollars in total goods exchanged between the world's largest economies last year. UK police investigating a potential terrorism incident after five men were arrested near an airbase used in US strikes on Iran. We go to London and get the latest with Bloomberg's Nathan Hager.
This incident happened near Royal Air Base Fairford. It's about two hours west of London. Prime Minister Andy Burnham uh recently started letting the US stage bombers at that airbase for defensive strikes against Iran. A local farmer told the BBC she called police early yesterday morning after she saw three vans and, as she put it, a large group of hooded and masked men headed toward the base. Armed police responded they arrested those five. five men while evacuating dozens uh from the village of Welford. President Trump is crediting local police with FOILing the incident. He says the suspects were looking to do big damage, and he says some may have been under surveillance for some time.
And said it's too soon to connect this alleged terrorist plot to the Iran conflict.
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Chapters
7 chapters
1
What breaking news is opening the Bloomberg Tech London briefing?
0:00–0:37
2
How is Saudi Arabia resuming oil exports via the repaired East‑West pipeline?
0:37–1:47
3
What are the latest diplomatic moves by Iran and President Trump on the Strait of Hormuz?
1:47–2:50
4
How are the United States and China negotiating tariff cuts on $30 billion of trade?
2:50–4:15
5
What happened with the alleged terrorist plot near RAF Fairford in the UK?
4:15–5:28
6
How is the lingering Nor’easter affecting the Northeast U.S. weather forecast?
5:28–6:36
7
What new double‑layered AI security system is NVIDIA rolling out for its hardware?
6:36–7:30
Speakers
7 identifiedMore from Bloomberg News Now
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UK Arrests Air Base Suspects, US-China Tariffs Cut, More
UK-US Air Base Plot, Labour's Healey Under Pressure, More
UK-US Base Plot Foiled, US-China Tariff Cuts, More