Senate Confirms Todd Blanche as AG, Passes Spending Bill, More
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Who is Todd Blanche and why was his Attorney General confirmation controversial?
News when you want it with Bloomberg News Now. I'm Monica Ricks. The U.S. Senate has confirmed Todd Blanche as Attorney General in a very narrow early morning vote that cements President Trump's former personal attorney's command of the Justice Department. Republican Senator Bill Cassidy had been a holdout, but ultimately threw his support behind Blanche after Blanche vowed to kill an anti-weaponization fund that would have paid the President's political allies in case. Including January sixth Riders.
This is not a referendum on President Trump. It is a decision regarding Mr. Blanche in very specific circumstances.
What did the Senate decide about the short‑term spending bill and government shutdown?
All considered, I will vote for Mr. Blanche.
Only two Republicans opposed the confirmation, Senators Susan Collins of Maine and Lisa Murkowski of Alaska. Meantime, the Senate passed a short term spending bill to avert a government shutdown, sidestepping the president's calls to enact emergency funds for the war in Iran and elements of a controversial voter ID proposal.
Lukewarm reaction now to the latest developments in the Strait of Hormuz after Iran says it reached a deal with Oman to allow vessels to enter the waterway through an Iranian controlled route. Defense analyst Mick Mulroy says the deal could allow Tehran to charge tolls.
Ultimately it sounds like Iran is not interested at all in conceding its sovereignty over the strait, their claimed sovereignty over the strait. It is an international waterway, and they're gonna charge fees for it.
Here at home, the Environmental Protection Agency is directing local water systems to sources of funding for cybersecurity upgrades, even though the EPA has been looking to cut those funds.
How is the new Iran‑Oman Strait of Hormuz agreement expected to affect shipping fees?
Bloomberg's Amy Morris has more from Washington.
Cyberattackers have hit drinking water or wastewater systems in at least seven states. The EPA is urging states to use its drinking water and clean water state revolving funds for cybersecurity upgrades.
But at the same time, the EPA is proposing to slash funding for those programs by more than 85%, saying that the US is a very important thing. That states should be responsible for their own water systems. In Washington, Amy Morris, Bloomberg Radio. The U.S. Postal Service plans to seek more.
Money from Congress soon to help fund its operations.
Why is the EPA urging states to use water‑funds for cybersecurity upgrades?
That's according to Postmaster General David Steiner, who says the agency faces a continuing and urgent financial crisis as it provides universal mail service across the country.
Charlie Pellet has details.
Stocks rallied on speculation the jobs report will not force the Fed to raise rates anytime soon. U.S. employers unexpectedly cut jobs in July, and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought. Stocks also rallied on optimism about a Strait of Hormuz deal. For the week, the SP five hundred index was up three point six percent. five percent, the Dow was up three percent, NASDAQ was up five point two percent. Charlie Pellet, Bloomberg Radio.
What reasons did OpenAI give for pausing work on its Astra model?
Wolf Research Economist Stephanie Roth weighed in on yesterday's jobs report and talked to Bloomberg about how that could affect how the Fed handles interest rates next month.
If data looks somewhat softer in the next couple months, especially on when it comes to the inflation side, they're probably not gonna want a hike in September. They're probably gonna wanna just see how the data progresses. Now that's gonna probably have to mean core PCE tracking below point two five percent roughly over the next two prints.
Inflation data, including a consumer price report, is due next week. But high inflation is testing the Fed's patience and splitting opinions on what to do next. Policymakers held rates steady last month. OpenAI is pausing work on one of its latest AI models because it could be too powerful, Bloomberg's Dan Schwartzmann explains.
OpenAI is halting some internal work around its upcoming Astra model to build in stricter safeguards after the system was found to be significantly more adept at cybersecurity tasks.
How is President Trump promoting critical‑mineral projects to reduce China dependence?
The company said it quote cannot rule out that Astra could become capable of identifying and developing zero-day exploits without human intervention, which would reach a company's quote critical cybersecurity threshold.
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Chapters
6 chapters
1
Who is Todd Blanche and why was his Attorney General confirmation controversial?
0:01–0:35
2
What did the Senate decide about the short‑term spending bill and government shutdown?
0:35–1:58
3
How is the new Iran‑Oman Strait of Hormuz agreement expected to affect shipping fees?
1:58–2:37
4
Why is the EPA urging states to use water‑funds for cybersecurity upgrades?
2:37–3:32
5
What reasons did OpenAI give for pausing work on its Astra model?
3:32–4:26
6
How is President Trump promoting critical‑mineral projects to reduce China dependence?
4:26–5:39
Speakers
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