Bloomberg News Now
Trump Administration Seeks Delay in Tariff Refund, Anthropic to Challenge Risk Designation, More
28 Feb 2026
Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Ed Kalecki. The Trump administration is seeking to delay court proceedings over whether it must refund importers billions of dollars in tariffs recently struck down by the U.S. Supreme Court, marking a contentious start to the next phase of the legal fight.
The government wants to wait as long as four months before reviving litigation before the U.S. Court of International Trade on the refund question. The government lawyers criticized attorneys for companies in one of the lead cases for pressing to reopen the legal wrangling as soon as possible.
Anthropic says it has not received any direct communication from the Department of War or the White House on the status of negotiations and will challenge any supply chain risk designation in court. The Pentagon earlier declared Anthropica supply chain risk after President Trump directed U.S. government agencies to stop using the artificial intelligence giant's products.
The Pentagon wants to use Anthropica's Clawed chatbot for any purpose within legal limits, but without any usage restrictions from Anthropica. The firm has insisted that Clawed not be used for mass surveillance against Americans or in fully autonomous weapons operations. OpenAI says it has reached an agreement with the U.S. Department of War to deploy its models in their classified network.
CEO Sam Altman said in a post on X that two of OpenAI's most important safety principles are prohibitions on domestic mass surveillance and human responsibility for the use of force, including for autonomous weapon systems. Paramount says it has entered a definitive merger agreement to acquire Warner Bros. The transaction values Warner Bros. at an enterprise value of $110 billion.
The deal has been unanimously approved by boards of both companies and is expected to close in the third quarter. Paramount will issue $47 billion of new Class B shares at $16.02 a share, supported by a fully committed investment from the Ellison family and Redbird Capital Partners. Adding to this,
Paramount has paid the $2.8 billion breakup fee owed to Netflix after dropping its planned deal to buy parts of Warner Bros. Countries including the U.S., U.K. and China evacuated embassy staff in the Middle East and issued travel advisories amid concerns about a regional conflict as President Trump Friday sounded downbeat about diplomatic talks meant to avert airstrikes on Iran.
The president commented on the situation while in Corpus Christi, Texas, saying the U.S. now has a big decision to make on Iran.
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Chapter 2: What legal challenges is the Trump administration facing regarding tariff refunds?
I'm not concerned. No, no. I'm concerned about people's lives. I'm long-term health for this country. That's what I'm concerned about.
The U.S. on Friday told non-emergency staff at its embassy in Jerusalem that they're allowed to leave Israel, with the country being vulnerable to Iranian retaliation if it participates in a U.S. attack. U.S. and Iranian officials have agreed to resume nuclear talks next week in Vienna, as the U.S. continues to build up its military presence in the region.
Jennifer Welch is chief geoeconomics analyst for Bloomberg Economics.
After pulling out of the nuclear deal that the Obama administration structured, the The president is now aiming to negotiate a new deal with Iran. The challenge is that from Tehran's perspective, they already agreed to a deal and the US is the one that reneged on it.
And now the US is asking for far more at a time in which Tehran feels it has far fewer options and its back is already up against the wall. So this is a really tense situation.
Bloomberg Economics analyst Jennifer Welch on Bloomberg surveillance. Former President Bill Clinton delivered a sweeping denial of any knowledge of Jeffrey Epstein's crimes as he began closed-door testimony Friday before a House committee investigating the disgraced financier's political connections.
Clinton said he had no idea of the crimes Epstein was committing and described their relationship as a brief acquaintance that ended years before Epstein's conduct became public. Clinton on Friday became the first former U.S. president forced to testify to Congress. His wife, former U.S. Secretary of State Hillary Clinton, testified before the same panel Thursday.
It's on to the trading month of March after a down February for the U.S. stock market. We get more from Bloomberg's Charlie Pellett.
For the month, the S&P 500 index was down 0.9%. On the week, the index was down 0.4%.
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Chapter 3: How is Anthropic responding to its supply chain risk designation?
Stocks declined on geopolitical concerns and issues relating to private credit. Bank stocks were particularly hard hit. The KBW Bank Index was down 4.9%. Wells Fargo analyst Mike Mayo says fresh credit worries are hurting banks. Now on the week, the Dow dropped 1.3%. NASDAQ this week down almost 1%. In New York, Charlie Pellett, Bloomberg Radio.
SpaceX is targeting filing confidentially for an initial public offering as soon as next month as billionaire Elon Musk's rocket and satellite company moves forward with plans for the biggest ever listing. The Starbase Texas-based firm expects to submit its draft IPO registration to the SEC in March.
Such a move would keep it on track for a June listing, making it the first of what could be a trio of mega-IPOs with OpenAI and Anthropic potentially coming after. NASA is shaking up its Artemis mission to the moon, canceling a multi-billion dollar Boeing upgrade to the centerpiece SLS rocket and adding another test flight to a program beset by delays and cost overruns.
The changes announced Friday mean that NASA is swapping the actual moon landing for an additional mission closer to Earth while insisting the 2028 deadline for a lunar touchdown remains unchanged. And singer-songwriter Neil Sedaka, who succeeded in two different eras and was best known for songs such as Breaking Up is Hard to Do and Love Will Keep Us Together, has died. He was 86.
The Friday numbers on Wall Street. The Dow lost 521. That's just over 1%. NASDAQ fell 210. That's just under 1%. The S&P dropped 29. The 10-year Treasury yield, 3.94%. The two-year, 3.38%. That's a new 52-week low. That's news when you want it with Bloomberg News Now. I'm Ed Kalegi. This is Bloomberg.
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