Trump: Iran Talks "Proceeding Nicely", CA Explosion Risk Gone, More
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News when you want it with Bloomberg News Now. I'm Erica Herskowitz. In a post on Truth Social, President Trump said negotiations with Iran over an interim deal to extend their ceasefire and reopen the Strait of Hormuz were, quote, proceeding nicely. It seems the U.S. and Iran are inching closer to a deal to extend their ceasefire and reopen the Strait. But officials from both sides are signaling they still need to negotiate certain points. Although there's still no deal, U.S. Secretary of State Marco Rubio cautioned reporters in India today not to read too much into it.
The president's not going to make a bad deal. He's just not. This issue, no one has done more. And no one has been more serious about the threat of a nuclear Iran than President Trump has been.
Either way, Rubio says it'll take time. Negotiators are still working through precise language on key issues, including Tehran's demand that its assets be unfrozen. Meanwhile, oil keeps falling as the U.S. makes progress toward a deal with Iran. Brent crude down more than 5 percent at $98 a barrel. And global stocks are surging. The FTSE in London closed ahead nearly a quarter of a percent. The CAC in Paris, up nearly 2%. The DAX in Germany, 2% higher. And the Nikkei in Japan led a rally in Asia, closing above 65,000 for the first time. It was up 2.8%. The Hang Seng in Hong Kong added a tenth of a percent. China's CSI 300 gained one and a half percent. U.S.
What recent developments are there in Trump and Iran negotiations?
markets are closed for Memorial Day. President Trump laid a wreath at the Tomb of the Unknown Soldier this morning at Arlington National Cemetery in Washington to mark the occasion. About 250,000 flags were also placed at headstones across the cemetery. It's been an annual tradition since 1948. The risk of a compromised chemical tank exploding in the suburbs of Los Angeles is no longer a concern. Orange County Fire Authority Interim Fire Chief T.J. McGovern.
What I'm stating, and I want to be very clear, the threat of a levee has been eliminated. We still have threats that we're mitigating right now, but we had to get through the first one first, and we successfully did that.
Orange County Fire Authority Interim Fire Chief T.J. McGovern, evacuation orders for more than 50,000 people remain in effect. The county's fire department has worked since Friday to contain a chemical tank about 35 miles southeast of L.A. after it overheated and leaked. Officials at the site have warned throughout the weekend that the tank could explode or leak toxic substances. Pope Leo joined anthropic co-founder Christopher Ola today at the Vatican to launch the first encyclical on artificial intelligence, warning about its dangerous impacts.
Artificial intelligence already touches many areas of our lives and affects decisions that shape human coexistence. It is also dramatically changing how war is waged.
The pontiff says AI could potentially accelerate the pace of conflict. His position could also become a new flashpoint with the Trump administration after it ordered all U.S. agencies to stop using Anthropic's technology when the company refused to give the military unrestricted use. Anthropic is currently suing the administration. The Justice Department confirms it scrubbed its website this weekend of news releases about criminal cases related to January 6th rioters, including convictions and sentencings, calling it partisan propaganda. It comes as both Democrats and Republicans rally against the DOJ's new $1.8 billion anti-weaponization fund. Democratic Congressman Tom Suozzi of New York.
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