NATO Agrees to $50B Defense Deals, New Attacks in Hormuz Strait, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News. Now, I'm Amy Morris. NATO allies have agreed to at least $50 billion in defense industry deals to show President Trump that Europe is heeding his spending demands. Some of the contracts show Europe moving to locally source some equipment it had previously bought from the U.S. Other contracts show deeper ties to some U.S. manufacturers like Northrop Grumman and Airbus. Now, while at the NATO meeting, President Trump indicated he may try to reverse a ban on Turkey from buying F-35 fighter jets from the U.S.
Why wouldn't we do that? We have a better relationship with Turkey, and Turkey's been in many ways much more loyal than other countries that we think would be loyal. So, yeah, something certainly we would consider.
The potential sale of F-35s to Turkey would be a major win for that country, but it may face pushback in the U.S. and could violate the law that President Trump signed. Trump was also critical of NATO's abilities to function without American leadership and power, moving to withdraw U.S. troops from Europe and casting doubt on whether the U.S. would come to the aid of a NATO ally under attack.
And frankly, if it weren't held in Turkey, we're... My friend happens to be a very strong leader, a very strong... Person, it's possible that I wouldn't have attended.
Trump says he remains disappointed with NATO. Ukrainian President Volodymyr Zelensky urged NATO allies to increase their supply of Patriot missile systems, which he says were excellent, but not enough. He argues that today's wars have shown more needs to be done to protect against ballistic missiles.
And I urge all of you and all our partners to give it the attention it deserves. And this cannot wait until 2030 or beyond. Europe needs affordable, mass-produced, anti-ballistic systems as soon as possible.
Zelensky called ballistic missiles Russia's last major advantage. Meanwhile, the British military says two tankers have been struck by projectiles in the Strait of Hormuz. The latest attacks targeting vessels moving through the strait.
What are the details of NATO's $50 billion defense deals?
Admiral Daryl Caudill is chief of naval operations. He says even with the war in Iran, they're not running low on munitions.
Navy's in pretty good shape, but all of us are moving toward a lower-sized munition where we're actually matching better the threat of a one-way attack with a weapon that's more in line with that and, quite frankly, more capable to take that out. Our learning curve is very high on matching the threat to the missile system. That's going to give us the breathing room to get our big missiles back in inventory.
Hear the full interview with Admiral Darrell Caudill on Bloomberg this weekend. And the tech route deepens on Samsung's earnings. We check those markets for you all day long here at Bloomberg.
How is Europe changing its defense procurement strategy?
The S&P 500 down 7 tenths of a percent. NASDAQ down 1.4 percent. The Dow down 4 tenths of a percent. The 10-year Treasury yield at 4.51%, the 2-year yield at 4.13%. WTI crude oil at $70.27 a barrel and Brent crude just over $73 a barrel. Samsung's quarterly profit did surge 19-fold, but that prompted investors to cash out of a near 150% rally this year That had baked in the AI-fueled growth. Samsung shares now more than 9% lower. And SpaceX trading on the Nasdaq 100 today. Shares of SpaceX now about 5.5% lower. Amazon looking to raise at least $25 billion from a U.S. dollar bond sale to fund spending on AI infrastructure.
What is the significance of F-35 fighter jets in the NATO discussions?
Bloomberg Tech's Ed Ludlow says CapEx is growing faster than revenue.
reason capex is growing is also because building data centers is getting more expensive with inflation there is labor and construction labor inflation there is memory chip pricing inflation right now you know bic is a path of capex for amazon going from 200 billion to 300 billion dollars in full year 27. you've got to find the money somewhere
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:01–2:39
2
What are the details of NATO's $50 billion defense deals?
2:39–3:17
3
How is Europe changing its defense procurement strategy?
3:17–4:04
4
What is the significance of F-35 fighter jets in the NATO discussions?
4:04–6:46
5
How does President Trump's stance affect NATO's operations?
6:46–6:50
Speakers
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