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Chapter 1: What is the main topic discussed in this episode?
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens. It's smart, calm and to the point. And it fits into your morning. You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris on Apple, Spotify, YouTube or wherever you get your podcasts.
News when you want it. With Bloomberg News Now, I'm Doug Krisner. The U.S. and Iran are closing in on a deal to reopen the Strait of Hormuz. U.S. officials say the two sides are addressing the precise language on key issues, and they say a deal with Iran will not be signed today, citing Iran's frustratingly slow system. Today, in a post on social media, Trump said the U.S.
will not be rushed and that both sides must take their time to get it right. U.S. Secretary of State Marco Rubio is optimistic.
We've made some progress over the last 48 hours working with our partners in the Gulf region on an outline that could ultimately, if it succeeds, leave us not just with a completely open straits, and I mean open straits without tolls, and with addressing some of the key things that underpin what has been Iran's nuclear weapons ambitions in the past.
Now, in these talks, Iran has been pushing for a toll system in the Strait of Hormuz, and that has been a source of friction with the U.S. Here is Bloomberg's Jumana Persechi.
Now we're in a situation where Iran have discovered that they have a lot of leverage over this key chokehold for the global economy. And they're not going to give it up without getting something in return. And for them, the incentive is clearly economic.
That was Bloomberg's Jumana Bersetchi on Bloomberg's This Weekend. The director of the National Economic Council, Kevin Hassett, signaled his confidence in a deal between the U.S. and Iran. And Hassett believes a deal can lead to a decline in energy prices, which could in turn lower inflation. Here is Hassett speaking on Fox News' Sunday Morning Futures.
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Chapter 2: What are the latest developments in US-Iran talks regarding the Strait of Hormuz?
A lot of them tell me they support it. We'll see how many actually, you know, join us in the effort by putting pen to paper and putting their name on it.
Now, this comes as GOP incumbents who have opposed the president have lost primaries recently to Trump backed challengers. That would include Representative Thomas Massey of Kentucky and Senator Bill Cassidy of Louisiana. The Secret Service has identified the gunman who opened fire outside the White House yesterday as 21-year-old Nazir Best. They have yet to determine a cause for this shooting.
Now, last July, Best was arrested for walking into a restricted area on White House grounds, and he had been known to the Secret Service for walking around the complex and asking how to gain access. Incidentally, a bystander was also injured in that crossfire. A top federal judge is delivering a rare rebuke of President Trump by name. Bloomberg's Nathan Hager has the story from Washington.
Paul Friedman is the senior judge on the U.S. District Court for the District of Columbia. In a speech to lawyers and judges in Berkeley earlier this year... Friedman said the president's, quote, vitriolic attacks have led to an increase in violent threats against judges that have gotten, in his words, more partisan, more personal and more threatening than ever before.
Friedman is the latest judge to warn about threats to the judiciary, but he's gone further than some in directly blaming President Trump's rhetoric. In Washington, I'm Nathan Hager, Bloomberg Radio.
Inflation will be in focus in the coming week. Bloomberg's Karen Moskow has a look at the economic calendar.
U.S. markets are closed Monday in observance of the Memorial Day holiday. Tuesday, we get a look at consumer confidence and get two reports on home prices. Thursday, it's personal income and spending for April, along with the PCE index, or the Fed's preferred inflation gauge, which Bloomberg economists say likely remained hot last month.
We also get another look at first quarter GDP, durable goods orders, new home sales, and the weekly report on initial jobless claims. Friday, it's wholesale inventories. Karen Moscow, Bloomberg Radio.
And that is news when you want it. With Bloomberg News Now, I'm Doug Kriziner, and this is Bloomberg.
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