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Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Doug Krisner. Senate Republicans have voted down a war powers resolution to halt President Trump's actions against Iran. Now, this demonstrates early support for a conflict with no clear U.S. exit strategy, and the war is showing no sign of slowing down.
Chapter 2: What recent actions did the Senate take regarding Iran?
Today, WTI crude oil wavered just below $75. That was after the New York Times reported Iranian intelligence operatives reached out to the CIA through another country's spy agency with an offer to discuss terms for ending the conflict. However, later in the day, Tehran dismissed the report as a pure falsehood.
And now we are learning Kurdish-Iranian dissident groups based in northern Iraq are preparing for a potential cross-border military operation in Iran. Kurdish groups are widely seen as the most well-organized segment of Iranian opposition. Earlier today, Israel and U.S. forces bombed more targets in the Islamic Republic, and a U.S. submarine sank an Iranian warship in international waters.
President Trump expressed confidence in the U.S. military campaign against Iran. Somebody said, on a scale of 10, where would you rate it? I said about a 15. And we're going to continue to do well. We have the greatest military in the world by far. At the same time, the Pentagon said the U.S. will strike deeper into Iran. Here is Defense Secretary Pete Hegseth. More and larger waves are coming.
We are just getting started. We are accelerating, not decelerating. Iran's capabilities are evaporating by the hour, while American strength grows fiercer, smarter, and utterly dominant. More bombers and more fighters are arriving just today. Meantime, former Secretary of State Antony Blinken said real change in Iran will require a sustained focus from the U.S.
military, and that could wear down stockpiles of U.S. weapons. Blinken told Bloomberg that he worries about a scenario where the U.S. depletes its arsenal.
One of the things I'm worried about, and this gets to the second and third order consequences, is we so deplete our arsenal and it takes a long time to rebuild it that that puts us in a disadvantageous position when it comes to, say, a China or a Russia. All of those things need to be factored in.
And again, it's one of the reasons why if you're going to undertake something like this, you've got to make sure that you've factored all of that in. You can hear the entire interview with former US Secretary of State Antony Blinken on the Bloomberg Big Take podcast. Yesterday, President Trump said the US would cut off all trade with Spain.
That was after the country denied the US access to military bases for the American bombing campaign against Iran. Well, today the White House said Spain agreed to cooperate.
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Chapter 3: How are Kurdish-Iranian groups responding to the conflict?
However, the Spanish government denied that claim. On Tuesday, Goldman Sachs CEO David Solomon expressed surprise at what he called the market's benign reaction to war in Iran. Today, Solomon told Bloomberg he does not see complacency. I think there's a lot of uncertainty around the direction of the conflict, how it will be resolved, you know, what the off ramps are.
And, you know, I think it's fair to say when you look at markets, market reactions have been relatively benign. And I certainly could have seen over the last couple of days, you know, a little bit more volatility. But I don't think people are being complacent. I think that market participants are looking and trying to say, you know, how is this going to play out? What's the end game?
That is Goldman Sachs CEO David Solomon speaking to Bloomberg in Sydney, Australia. Last week, negotiations between Anthropic and the Department of Defense broke down over the Pentagon's use of the company's clawed AI model, and that left Anthropic at risk of being frozen out of the military supply chain.
Well, now, Anthropic CEO Dario Amadei is reportedly making a last-ditch effort to revive those talks. The Financial Times reports Amadei has been in discussions with the Pentagon's Undersecretary for Research and Engineering about finalizing a contract for the military's access to Anthropic's AI technology.
A federal judge has ordered the Trump administration to stop calculating emergency tariffs for importers. The judge also questioned why the government was continuing to do so after the Supreme Court ruled those tariffs illegal. And at the same time, the judge told the Trump administration to speed up the process of refunding importers for those levies. In Texas, the GOP primary race for a U.S.
Senate seat has forced a runoff in late May between... Senator John Cornyn and Attorney General Ken Paxton. Now, this has prompted a response from President Trump. Today, in a post on Truth Social, Trump said he will make an endorsement, and Trump also asked the candidate he does not endorse to drop out of the race.
Meantime, The Atlantic is reporting Trump's political advisors expect him to endorse Senator Cornyn. Here is Bloomberg's Julie Fine. If this other candidate doesn't drop out of the race, then the base may look at it and say, well, the president asked you to drop out of the race.
It really puts the person that he doesn't endorse in a very interesting position because they now have a decision to make. Are they going to do what the president asked? Are they going to go ahead with this runoff that, again, will be extremely expensive for the party? That is Bloomberg's Julie Fine.
Now, the winner of this runoff will face James Tallarico, the Texas state lawmaker who won the Democratic primary. After the bell, Broadcom reported earnings for the latest quarter above estimates, and the company's forecast for revenue in the current quarter topped the average analyst estimate. And Broadcom also announced a new $10 billion stock buyback plan. Shares are up about 4% in late U.S.
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