NATO Summit, FIFA Controversy, Broadcom, Apple Expand Partnership, More
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News when you want it with Bloomberg News Now. I'm Karen Moscow. President Trump is headed to a NATO summit in Turkey that'll be charged with tensions over the U.S. leader's views on Greenland, European defense spending, and the Iran war. We get more with Gotham Mukunda, Bloomberg opinion columnist and lecturer at Yale School of Management.
Most likely his goals are domestic politics, that he's going to try and impress his base with his ability to stand up to NATO allies and sort of bully them and gesture dramatically. He may also have some larger intentions about trying to increase NATO spending, although that battle's largely over at this point. Maybe trying to get NATO to decrease it to sort of back off on its support for Ukraine in the hopes of forcing a settlement there pretty quickly. But this seems largely ceremonial at this point. The relations with NATO allies are so catastrophically poor, thanks to the series of choices he's made, I'm not sure what he can get out of it.
And that's Bloomberg's Gotham, Akunda. And Trump arrives in Turkey tomorrow when he'll meet with President Erdogan before a summit with the Full Defense Alliance the next day. Russia launched waves of missiles and drones at Ukraine early today, killing at least 18 people in an attack that exposed widening gaps in the country's air defenses. All of the ballistic missiles launched by Russia struck their targets, underscoring Kyiv's need for more Patriot interceptor missiles. It's a point Ukrainian President Volodymyr Zelensky will likely reiterate at a NATO summit in Turkey this week. Iran has begun a procession for the funeral of the late Supreme Leader Ayatollah Ali Khamenei as part of a multi-day mourning period.
Khamenei was killed in an airstrike back in February. Mourners reached through the crowds to touch the late leader's flag-draped coffin, which was on a truck headed for an expected 12-hour journey from the center of Tehran to Maribat International Airport. The mourning period will end Thursday when Khamenei is buried at the Imam Reza's shrine in Mashan. Saudi Arabia cut the price of its main crude grade for customers in Asia in August by the most in at least 26 years as a surge of global supply heightens competition for buyers. State producer Saudi Aramco will lower the price of its Arab light oil to Asia next month by $11 a barrel to a $1.50 discount over the regional benchmark, according to a price list seen by Bloomberg.
It's a larger decline than the $8 drop expected in a Bloomberg survey. Oil has plunged since the middle of June when the U.S. and Iran reached an agreement to halt fighting and allow traffic to resume through the Strait of Hormuz. NYMEX crude oil is down half percent right now at $68.34 a barrel, Brent at $71.78. Belgium is reacting with a mixture of anger and defiance to an unusual move from football's governing body. FIFA overturned a suspension of star U.S. striker Follarin Bolagun, this following a personal appeal by President Trump.
What are the tensions surrounding President Trump's NATO summit in Turkey?
We get more with Bloomberg D.C. breaking news team leader Kasia Klimaczynska.
He called to complain. He said that the U.S. star player Follarin Bolagun should be allowed to keep playing even after he got a red card. And here we go today, the U.S. is about to play Belgium tonight, and it looks like Balogun will be allowed to play in this game after FIFA kind of clears him to do, like issue this very rare suspension.
And as Bloomberg's Kasia Klimaczynska, the Royal Belgian Football Association, says it was, quote, astonished by FIFA's decision and is investigating its options to, quote, safeguard the legitimate rights of all participating teams and to protect the fundamental principles of fair play in our sport.
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