Todd Blanche Confirmed as AG, Berkshire Hathaway Earnings, More
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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. Bloomberg's Laura Davison has more from Washington.
This is really um you know, sort of a remarkable end to a weeks long saga of you had uh, you know, multiple senators coming out and expressing some concerns about Todd Blanche and also just how Trump is influencing the Justice Department, particularly this one point eight billion dollar quote anti-weaponization fund that would have gone To support January 6th insurrectionists and other allies of the president, as well as the president being able to cut a deal with the IRS to uh save himself from any tax audits. Um, so uh, you know, they were able to get some concessions from the Justice Department that really limited the scope of that tax deal, as well as uh uh essentially tabling, killing off uh that that anti-weaponization.
Fund. Reporter Laura Davison on Bloomberg this weekend. Just two Republicans joined Democrats in opposing the confirmation. Senator 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.
Berkshire Hathaway just released earnings which show the company spent about $4.5 billion to buy back its own shares in the second quarter, providing shareholders with the largest quarterly payout since 2021. 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.
The strait would still need to be cleared of mines. Turkey is now restricting commercial ship traffic into the Black Sea due to growing concern over an uptick in Russian and Ukrainian attacks on vessels in the area.
This comes as Ukraine and Russia traded more attacks overnight. Fire and a large-scale missile barrage on Kiev that killed at least three people, including a child. 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. Bloomberg's Amy Morris has more from Washington.
What did Bloomberg report about Todd Blanche’s narrow Senate confirmation as Attorney General?
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 that can pay to upgrade outdated computers and software, create network backups, and install monitoring systems. But at the same time, the EPA is proposing to slash funding for those programs by more than 85%, saying that the government is not a good 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 money from Congress soon to help fund its operations. 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. Without help, he says the USPS may need to make changes, like closing unprofitable post offices and more price increases.
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