Trump Calls For Iran's Economic Isolation, Saudi Pipeline to Restart, More

episode

Bloomberg News Now 6 min 4 speakers 6 chapters transcribed just now

▲ 0

Transcript

jump: chapters · speakers · find in transcript

Transcript

Transcript generated automatically by AI and may contain errors.

What did President Trump say about imposing economic isolation on Iran at the UN?

Caroline Hepker 0:00

AI is entering its most consequential phase where scale, safety, and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor Salesforce and supporting sponsors IDA Island and Schneider Electric. Learn more at BloombergLive.com slash. Slash Tech London.

Amy Morris 0:30

News when you want it with Bloomberg News Now I'm Amy Morris. President Trump used his speech before the UN General Assembly to justify his decision to go to war with Iran, arguing that he is using American power to confront long standing challenges.

Donald Trump 0:45

I call on all nations to join us in enforcing the complete economic isolation of Iran. until they stop their attacks on commercial shipping, relinquish their nuclear ambitions and cease their support

Amy Morris 1:00

And Trump says he thinks Iran is holding out to make a deal until after the midterms. He also outlined his administration's push to keep the UN from infringing on US sovereignty and imposing what he calls a radical left-wing agenda on Americans. Trump also said the US will start building two very major military bases in Greenland. Aimed at strengthening Arctic and North Atlantic security.

How is the United States planning new military bases in Greenland and what are the strategic goals?

Amy Morris 1:28

Danish Prime Minister Meta Frederickson says the agreement is set to expand Washington's military role in Greenland, although it will leave Greenland under Danish sovereignty. Outgoing UN Secretary General Antonio Guterres used his speech to call for greater regulation of artificial intelligence to prevent a dystopian future of rampant corporate power. Yeah.

Unknown 1:52

increasingly ending power to machines. with artificial agents going wrogue, and little autonomous weapons going from science fiction to military reality.

Amy Morris 2:04

This was Antonio Guterres' final speech as leader of the global body. Anthropic CEO Dario Amade and OpenAI chief Sam Altman plan to hold a virtual briefing with the UN Security Council tomorrow on the future of AI. Saudi Arabia is in the early stages of restarting its key oil pipeline that has enabled Riyadh to bypass the Strait of Hormuz after that conduit was attacked earlier this month. month. Early estimates had that pipeline reopening in three to five weeks. Bloomberg commodity strategist Mike McLone.

Mike McGlone 2:36

Technology has been moving so fast.

What are the UN Secretary‑General’s warnings about AI regulation and autonomous weapons?

Mike McGlone 2:38

Every time you hear something's going to take a few years, it usually takes months. When they say it's going to take a few months, it takes a few weeks. That's just the way things have changing. Now that's a short-term disruption. What we're seeing right now is a meeting between the world's largest energy producer, the US, and the world's largest any consum energy consumer, China. And both have a vested interest in energy prices going lower.

Amy Morris 2:58

Bloomberg commodity strategist Mike McLean and crude oil is moving off-session lows now. WTI crude oil at $96 a barrel and Brent Crude just topping $100 a barrel. If traders were looking for signs of diplomatic efforts to revive the strait in Trump's address to the UN, they didn't find any. A sense of caution now on Wall Street after a rally that had put stocks on the verge of their all-time highs. We check markets. For you all day long here at Bloomberg. The S P 500, little changed on the downside.

When will Saudi Arabia’s key oil pipeline restart and how could it affect global oil prices?

Amy Morris 3:27

NASDAQ up two-tenths of a percent, the Dow down about a half percent, the 10-year Treasury yield at 4.97%, the two-year yield at 4.75%. SpaceXI's Grokbot artificial intelligence agent has topped 400,000 weekly users roughly a month after it launched. SpaceX AI has positioned the USB. Grockbot as an enterprise tool, bundling the offering with different tiers of AI subscription plans. It's also available as a standalone app. Boston Fed President Susan Collins says she supported last week's decision to raise interest rates and that the hike will help bring inflation back to the central bank's two percent target. Collins posted on LinkedIn that with the labor market on better footing, monetary policy can focus on a return to price stability.