Lawmakers Focus on Epstein, Lagarde Considers Early Exit, More
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News when you want it with Bloomberg News Now. I'm Karen Moskow. We're going to bring you some breaking economic news in just a moment, but first, the latest on the Epstein files. The retail tycoon behind Victoria's Secret is going to answer lawmakers' questions in private today about his longtime money manager, Jeffrey Epstein. Bloomberg's Laura Duszynski has more on today's deposition with L Brand's founder, Les Wexner.
Democrats on the House Oversight Committee are eager to pull out more details related to this Epstein probe. This has been a way for Democrats especially to highlight President Trump's intersection with these leaders and officials and But beyond Trump, it is a way to really use Congress's investigative powers to get individuals who may not necessarily want to talk to talk.
And that's Bloomberg's Laura Duszynski. Meanwhile, Paris prosecutors have opened two new investigations tied to Epstein, and they're calling on possible victims in France to come forward. Prosecutors say one case covers sex abuse crimes and the other covers financial wrongdoing. European Central Bank President Christine Lagarde is expected to step down from her role before her eight-year term ends in October 2027. That from the Financial Times. It reports Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together. Japan plans to invest $36 billion in U.S.
energy and critical minerals projects as part of its $550 billion pledge under the trade deal with President Trump. Bloomberg Global Trade Editor Brendan Murray says one of the biggest projects is right in the nation's heartland.
There's a project in Ohio, a natural gas facility that's supposed to be the biggest in the U.S. if it gets fully built. There's a crude oil facility in the Gulf of Mexico. And there's an industrial machinery component processing facility in, President Trump said, in the state of Georgia. So these are three projects that the Trump administration has really needed to get off the ground and get announced.
And that's Bloomberg's Brandon Murray, who says the Ohio facility alone could generate the power equivalent of nine nuclear reactors. Illinois Governor J.B. Pritzker is proposing a new fee on social media companies that he says would raise about $200 million a year for education. It comes as his state confronts a sizable budget shortfall and greater uncertainty around federal funding under President Trump. It is now 18 days into the search for Savannah Guthrie's mother, Nancy. Investigators are looking for fresh leads in her disappearance. A glove found near Guthrie's home in Tucson failed to match any DNA in the FBI's database.
What new developments are emerging in the Epstein case?
Now investigators are processing search warrant evidence, canvassing gun shops, even working to see if they can track Nancy Guthrie through her pacemaker. There's some cautious optimism between the U.S. and Iran after their latest round of nuclear talks in Geneva. Bloomberg's Paul Wallace is monitoring from Dubai.
Both sides cited progress, and broadly speaking, they seemed happy with the results. Now, the details are still very, very vague. at this point.
What impact does Les Wexner's deposition have on the Epstein investigation?
But what we do know the next step is for Iran to send the Americans written proposals to try and bridge the gaps that remain and we have to say that those gaps are still pretty wide and cover a range of issues.
And that's Bloomberg's Paul Wallace, who says Iran plans to return with a new proposal in two weeks. Both sides plan to exchange draft texts for a deal before scheduling a third round of talks. A second day of U.S.-brokered meetings in Geneva between Russia and Ukraine broke up after barely 90 minutes as Ukrainian President Volodymyr Zelenskyy accused Moscow of attempting to prolong the process.
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