Nor'easter Batters East Coast, Iran Won’t Soften Demands, More
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Building a successful business is hard. Building one that lasts is even harder. The jobs market is tough. Industries are evolving. AI is advancing. How do you adapt and stay ahead? I'm James Reed, Chairman and CEO of Reed, and host of the All About Business Podcast. Every Monday, I sit down with founders, CEOs, and entrepreneurs who've built extraordinary businesses, the people who get things done. I ask them about the decisions that mattered, the risks they took, the mistakes they made, and what they'd tell you to do differently. Whether you're building a business, leading a team, or simply fascinated, By how successful people think. You'll hear honest conversations about the good, the bad, and the ugly of building something that lasts.
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News when you want it with Bloomberg News Now. I'm Monica Ricks. At least one person has died in a powerful nor'easter that's knocked out power to tens of thousands of people, grounded hundreds of flights, and flooded communities across the East Coast. But Bloomberg meteorologist Craig Allen says it's not over.
This has been a stormy forty-eight hours, and it may take another twenty-four to thirty-six hours before we could start drying out. The Nor'easter is going to weaken today, but it is also going to stall, and then loop once or twice before heading out to sea Tuesday.
More tidal flooding and heavy winds and rain are expected from DC to Boston. Hawaii's also keeping a close eye on Hurricane NOLO as it gains strength in the Pacific. Officials say that could be another life-threatening storm as islands recover from Hurricanes Lala and Lowell. Iran says it's waiting on a definitive US response to its proposal for reopening the Strait of Hormuz, but says it won't soften its conditions despite President Trump's rejection.
If they had waited for a month, the path would have been reopened automatically in accordance with that understanding.
And the remaining stages of the MOE could have continued. But the urgency that developed in the process created the problem.
Iran says it's aware of Trump's remarks, but has yet to receive word from mediators in Qatar and Pakistan who've been working with both sides on a diplomatic solution. Police have evacuated homes near a U.S. airbase in England and arrested several men over suspected explosives offenses. American forces have been stationed there to conduct limited strikes during the war in Iran, but it's unclear whether those arrests were linked to the base. And China and the U.S. have agreed to set up a channel for handling AI-related incidents, despite President Trump saying just yesterday the U.S. works alone.
I would rather not integrate because we're leading by a lot. When you're leading, you don't open it up to each other.
This comes days after Trump and Xi Jinping held a summit in Washington. They also plan to sign a memo to strengthen crisis communications between their militaries. The Trump administration plans to release new fuel efficiency mandates tomorrow that could ease rules implemented under President Biden. Bloomberg's Ed Kalegi has details.
President Trump pitched the changes as a way to boost the domestic auto industry and lower consumer costs. The president said in a social media post Saturday, these new standards will take the waste out of building cars in America. That means lower prices, saving families thousands on a new, beautiful and safe car. Trump, who is struggling in the polls ahead of the November midterms, has been under fire for not doing more to address concerns about rival. Pricing prices for consumer goods, particularly as oil prices remain persistently high. Ed Kaleggi, Bloomberg Radio.
U.S. hiring probably remained solid for a second month in September as economic momentum builds despite mounting cost pressures. Economists estimate Friday's jobs report will show non farm payrolls rose and the unemployment rate to remain at a one year low.
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