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Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm John Tucker.
And I'm Karen Moscow.
And Karen, let's start with the latest on Iran. U.S. and Iranian officials have agreed to board nuclear talks as soon as next week after the latest round of discussions in Geneva. And let's get the latest from Bloomberg Middle East correspondent Jamana Brzezinski.
Well, it was a long day of talks and Bloomberg reporting this as well as other outlets that the U.S. side were disappointed with some of the options that Iran had presented. That being said, at the end of the day, the mediator, Oman, the foreign minister there put out a statement saying that talks will reconvene again.
And the Omani mediator also citing, quote, significant progress, also echoed by the Iranian foreign ministry as well. That we haven't had formal comments come through from the U.S., but what we do understand from earlier on in the session is that they were not utterly pleased with what the Iranians had presented.
Bloomberg's Jumaana Bassachi says unlike nuclear talks under prior U.S. administrations, the Iranians have taken the lead in crafting written proposals and brought them to the Americans.
Well, staying overseas, John, Pakistan's defense minister declared, quote, open war with Afghanistan after both sides carried out cross-border strikes overnight that killed dozens. The clash marks a major escalation in tensions between the two neighbors.
Relations between Pakistan and Afghanistan have steadily broken down in a year since the return of the Afghan Taliban in 2021 following the withdrawal of U.S.-led forces.
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Chapter 2: What are the latest developments in Iran's nuclear talks?
In Washington, Amy Morris, Bloomberg Radio.
All right, Amy, thank you. Let's turn to the markets now. And Netflix has dropped out of the fight to buy Warner Brothers Discovery, clearing the way for rival bidder Paramount to clinch a $111 billion deal. The streaming giant said while its offer would have passed muster with regulators and created shareholder value, it didn't want to keep bidding.
Lucas Shaw has been covering the takeover battle for Bloomberg.
The Warner Brothers board's not really concerned about synergies. I think that if they could have chosen between the two buyers, they preferred Netflix. Netflix is a bigger, stronger, healthier company. But Paramount ultimately offered more money. And a lot of Warner Brothers shareholders preferred Paramount because Paramount's buying the whole company.
So they get bought out right now with cash, whereas the Netflix deal was more of a two-step process where Warner Brothers was going to have to spin out its cable networks and then sell the rest of the company to Netflix.
And as Bloomberg's Lucas Shaw shares a Netflix up 7% in early trading.
And Karen, several other stocks on the move this morning. Shares of Block, they're surging more than 23%. Jack Dorsey's company is reducing its workforce by nearly half. They're cutting 4,000 employees. The financial technology firm is betting that artificial intelligence is going to change the future of labor productivity.
Well, John, Dell shares are up about 12%. The company gave an outlook for sales of its artificial intelligence servers that topped estimates. Dell now says it will generate about $50 billion in AI server revenue in the current fiscal year.
And on the flip side, you have shares of CoreWeave. They're down more than 11%. The company, an operator of AI data centers, reporting a bigger than expected loss. It's also boosting capital expenditures.
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