Shifting Narratives In Iran, Crude Oil Rises, More

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Bloomberg News Now 6 min 5 speakers 4 chapters transcribed 1 month ago

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What are the latest developments in the Middle East conflict and Houthi attacks?

Carol Masser 0:01

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Amy Morris 0:30

News when you want it with Bloomberg News Now. I'm Amy Morris. We begin with the latest from the Middle East. Yemeni authorities say four people have been killed by Iran-backed Houthi rebels attacking a vessel in the Bab el-Mandeb Strait. The Houthi attacks could reignite Yemen's civil war following a 2022 truce and open a new front in the Middle East. Bloomberg Israeli Bureau Chief Ethan Bronner says the situation continues to change. Yesterday, the president was talking...

Unknown 1:00

big guns about how he's going to demand 30 things from the Iranians. The day before, the Iranians were demanding 30 things from the Americans. Today, the Pakistani defense minister is saying that the U.S. and Iran are close to some sort of arrangement over this trade reform. So it's hard to know. I mean, obviously, there's some effort to get this thing done, but it's also clear that each side suspects that it can outweigh the other.

Amy Morris 1:23

Bloomberg's Ethan Brawner in Tel Aviv. Crude oil now about 1% higher. WTI at $83 a barrel and Brent crude topping $88 a barrel. And as oil rises, stocks are wavering. We check the markets for you all day long here at Bloomberg. The S&P 500 is a little changed on the downside. NASDAQ is down about three-tenths of a percent and the Dow little changed on the downside. The 10-year Treasury yield is At 4.68% in the two-year yield, at 4.22%, the Philadelphia Semiconductor Index, more than a half percent higher, led by ASML, which is about 3.5% higher. At least 3,000 people are missing in Colombia after a powerful 7.4 earthquake.

How are rising crude oil prices affecting U.S. stock indices and Treasury yields?

Amy Morris 2:05

Local mayors and governors say the death toll has now topped 179 people, but the federal government of Colombia has estimated at least 111 have died. At least 1,600 buildings are damaged or collapsed across the region. Soldiers, rescue personnel and families are picking through rubble to find survivors.

Ed Ludlow 2:25

Intel shares are slightly lower after raising $20 billion in an upsized share sale, a third more than it was targeting when it announced the deal yesterday. Bloomberg tech host Ed Ludlow. Yeah, initially it offered to go to market for $15 billion. So $20 billion is also kind of a response to the outsized demand. You know, Bloomberg's reporting that there was $100 billion of demand on this deal. $95 a share is where it seems to have priced, which is a bit of a discount. Bloomberg's Ed Ludlow.

Amy Morris 2:55

Paramount Skydance chairman and CEO David Ellison is considering moving the company out of California amid his legal battle over the Warner Brothers discovery takeover. Ellison told Paramount senior execs he is prepared to relocate Paramount if California's attorney general, Rob Bonta, does not agree to negotiate a settlement in the case with the company to begin the process of leaving California October 1st. Ellison says the Paramount Skydance board has approved the move, which would involve shifting most studio jobs out of California over a five-year plan. with potential new destinations including Georgia, Texas, and Tennessee. Apollo Global Management is providing $2.6 billion of financing to the owners of the New York Yankees, consisting of debt and equity. Bloomberg senior reporter Randall Williams. It's a mix of debt and equity. Now, the exact split isn't known, but you have to wonder what the valuation of this is because of the fact that MLB rules permit private equity firms to own up to 15%.

Why is Paramount Skydance considering relocating its studios out of California?

Amy Morris 3:55

The Steinbrenner family is retaining full control of the Yankees, with Hal Steinbrenner saying the partnership allows them to explore pursuing strategic opportunities. It's primary day in six states. The debate over the Democratic Party's direction is playing out in the governor's race in Wisconsin.