Trump Calls Off Iran Attack, 3 Dead in ID Mass Shooting, More
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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 Ireland and Schneider Electric. Learn more at BloombergLive.com slash TechLondon.
News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump says he's canceled strikes on Iran after getting requests from Saudi Crown Prince Mohammed bin Salman and other Middle Eastern nations to hold off on attacks due to progress towards a deal. The president once again calling for the immediate and complete reopening of the Strait of Hormuz last night on True Social, as well as an end to Iran's nuclear ambitions after threatening to carry out fresh attacks as soon as this weekend. U.S. embassies across the Middle East have already warned Americans to prepare for travel disruptions as tensions remain high. Later this morning, major OPEC-plus nations are set to agree to increase production quotas again for September, adding another 188,000 barrels a day next month amid the ongoing war in Iran.
That increase is still symbolic for now since supplies are still tied up in the Persian Gulf. But it may give Saudi Arabia some leeway to raise production once oil flows return to normal to help replenish the world's depleted stockpiles. Here at home, terrifying moments at a crowded shopping center in Idaho yesterday where three people were killed in a mass shooting.
If you're in the area of in and out, have report of a possible active shooter.
That sound courtesy of Broadcastify. Twin Falls Police Chief Matthew Hicks says the shooting happened at a brand new In-N-Out.
We have literally hundreds of people that were in some way, shape or form in the area of this restaurant at the time that are being interviewed right now. The resources for all our agencies are completely on board.
He says they hope to ID the shooter and find a motive in the coming days. In Washington state, fast moving wildfires are now threatening thousands of homes in and around Spokane, where Mayor Lisa Brown gave this warning. The winds are volatile and so we need everyone to be on alert. About 4000 firefighters are now working stateside to put out those flames. The National Guard has also been deployed. Michigan is the latest state to announce cyber attacks on its water supply. State officials say nine of their systems were the target of attacks that intelligence officials are now blaming on Iran. They're operating safely, but the FBI is investigating. Earlier this week, Minnesota reported at least 30 of its water systems were also hacked.
Hungary is set to shut down its only nuclear power plant for the first time as drought dries up the Danube River, which is needed to help cool down the plant's four reactors. That's set to cut more than 40 percent of the nation's electricity generation capacity and likely force the country to rely on more expensive imports. The White House says the Trump administration's shifting focus from deregulating to helping the private sector build physical infrastructure. Bloomberg's Amy Morris has more from Washington.
White House officials tell Bloomberg the Trump administration has done enough deregulating that it can now concentrate more intensely on on helping the private sector build factories, data centers, mines, and other physical infrastructure.
Why did President Trump call off planned strikes on Iran and who asked him to delay?
And they want to get it done fast. A White House meeting showcased technologies that could help speed up the permitting process for construction projects. Environmentalists have raised concerns that faster permitting could lead to mistakes that harm the environment. In Washington, Amy Morris, Bloomberg Radio.
All eyes are on jobs numbers and their impacts on Wall Street this week. Bloomberg's Andrew O'Day has a preview.
The new month means several new reports tracking trends in U.S.
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