Rubio: Trump Still Wants Iran Deal, FBI Hack Investigation, More

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Bloomberg News Now 6 min 4 speakers 6 chapters transcribed 1 hour ago

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What is the opening briefing about AI’s global impact and the upcoming Bloomberg Tech London event?

Caroline Hepker 0:00

AI is entering its most consequential phase where scale, safety, and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor Salesforce and supporting sponsors IDA Island and Schneider Electric. Learn more at BloombergLive.com slash. Slash Tech London.

Amy Morris 0:30

News when you want it with Bloomberg News Now, I'm Amy Morris. Iran President Massoud Pazeskiyan says his country has no interest in developing atomic weapons, but will not give up the right to develop nuclear technology for economic development.

Unknown 0:50

bow our head and give up the right that is inherently ours.

What did Iran’s president say about nuclear technology and how did Rubio describe Trump’s stance on Iran?

Unknown 0:54

We say it clearly. No nuclear weapons and no limitations to new peaceful nuclear technology.

Marco Rubio 1:20

But if they continue to insist on the desire for a nuclear weapon, their support for proxies in the region that de their support of terrorism, they're the world's leading sponsor of terrorism, then we're gonna have big problems with them.

Amy Morris 1:32

Rubio says President Trump for now is focused on imposing economic restrictions on Iran, but he also has military options.

What are the details of the FBI jobs‑website breach and the claims made by the Shiny Hunters group?

Amy Morris 1:39

Crude oil is higher now, WTI crude oil at $92 a barrel, Brent Crude now topping $102 a barrel. The FBI investigating now an apparent breach of its jobs website, with a hacking group claiming to have accessed sensitive data on nearly all agents and jobs.

What is Senator Mark Kelly’s “Make AI Work for Americans” Act and how does it propose to tax AI and digital ads?

Amy Morris 1:57

Job applicants. The hacking group, known as Shiny Hunters, claimed responsibility for the hack and said it would give the FBI a week to correct or remove allegations made in a public service announcement.gov remained offline as the Bureau continues to investigate the claims, which could not be immediately verified. The newest proposal to help regulate the economic impact of artificial intelligence comes from Democratic Senator Mark Kelly of Arizona. The Make AI Work for Americans Act is designed to protect American workers and regulate the AI industry. It includes a digital ad tax and an AI usage tax to fund support for workers displaced by AI. Senator Kelly says now is the time to take action.

How are rising oil prices affecting the stock market, Treasury debt purchases, and inflation concerns?

Amy Morris 2:44

You

Mark Kelly 2:44

know, I think about this as like being in the space shuttle and the master alarm light is flashing in your face. It's time to act and come up with a plan. And there is the possibility we could have significant job loss. Hasn't come as fast as we thought. However, the technology is moving along and becoming more capable than we anticipated.

Amy Morris 3:05

Arizona Senator Mark Kelly was on balance of power. Now stocks fell after a rally as those higher oil prices stoked worries about inflationary pressures. The SP near a record and chipmakers sinking.

Amy Morris 3:31

Nearly two percent lower, led by Broadcom, which is about two and a half percent lower. And Treasury is set to purchase up to six billion dollars of longer dated government debt as soon as tomorrow.

Why is Disney raising Disney+ subscription prices and how might this impact consumers and the company’s stock?

Amy Morris 3:41

This is all part of Treasury Secretary Scott Bessant's program to stem the rise in borrowing costs. Now the Institute of International Finance has criticized this plan, warning that it may provide temporary relief, but it can't resolve the underlying problem. Now the two-year Treasury yield is at 4.89%, the 10-year yield is at 5.09%, and the 30-year Treasury yield has just hit a new high of 5.389%. U.S. business activity rose at the fastest pace in more than five years as robust demand pushed up new orders and employment at manufacturers and service providers. The SP Global Flash U.S. Composite Purchasing Managers Index climbed to 58.4 in September. That's the highest since July of 2021. Anything higher than 50 indicates expansion.

Amy Morris 4:32

The Justice Department urged a federal judge to Reject a request by CNN, MS Now, and Politico to reinstate their White House press credentials for their journalists. In today's court filing, government lawyers argue the ban is lawful. They claim the news outlets pose a threat to national security. The news outlets argue that the ban is a violation of the First Amendment. A court hearing is set for this afternoon.