Trump Orders Iran Attack, FIFA Drops World Cup Stake Sale Plan, More
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News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump has ordered a new attack on Iran as soon as this weekend. That's according to the Wall Street Journal, which says the U.S. is considering striking energy infrastructure, including oil refineries and power plants, which would mark a major escalation in this conflict. Trump talked about losing confidence in Iranian negotiators during a cabinet meeting at Camp David yesterday.
All they do is make me angry, you know? They just make me angry. Any other questions?
Do you believe that you can reach a deal with Iran, given that you talked about how disloyal they are?
I'm losing faith in them. Because they do lie.
Trump also took issue with missile attacks Iran launched earlier this week against U.S. forces in Jordan that ended a multi-day pause in fighting, though no American attacks were carried out overnight. Spanish Prime Minister Pedro Sanchez is facing pressure for his migration policy after thousands of migrants from Ceuta flooded and crossed the border into Morocco this week. Dozens have now died, including some who drowned and others who were killed in a stampede to cross a breakwater barrier. Leaders have vowed to impose tougher border checks, but Sanchez has been criticized by other leaders, including the White House, who've linked the chaos to Spain's lax migration laws. FIFA President Gianni Infantino is scrapping a controversial plan to sell a stake of the World Cup to outside investors after getting a ton of backlash this week.
Bloomberg's Ed Kalecki has details.
The reversal comes after the governing regional football body for Europe vowed to boycott the World Cup entirely should FIFA push ahead with the plan, which sought to create an entity to house media rights, including those for the World Cup. Infantino sought to bring in as much as $4.2 billion of outside capital based on a $20 billion valuation for that entity. Ed Kolegi, Bloomberg Radio.
The Justice Department is dropping its criminal case against former Olympian David Hearn after claiming he deliberately damaged the Lincoln Memorial reflecting pool. Government lawyers now say the damage was actually the result of a flawed installation by the contractor, which was rushed for the America 250 celebration on July 4th. And it appears President Trump has not signed off yet on a plan to spend any of the money in his super PAC for midterms. Bloomberg's Amy Morris has more on that from Washington.
So far, the super PAC, called MAGA Inc., holds about $401 million. A Republican strategist tells Bloomberg that Trump's allies are worried he won't use the money to support vulnerable Republicans in House and Senate races, despite his team's public assertions that the super PAC will provide a major boost for GOP candidates. So far, MAGA Inc. has spent a little more than $2 million on races, none of that money going to support Republicans in the midterms, and more money spent on operating expenses than on races. In Washington, Amy Morris, Bloomberg Radio.
What does the Wall Street Journal report about Trump's planned attack on Iran and possible targets?
Paramount Skydance has asked a federal judge to hold a trial November 4th in a lawsuit by a group of states challenging its planned merger with Warner Bros. Discovery. States have said April's better, giving lawyers more time to gather evidence from the company. But a judge will ultimately decide and likely give substantial weight to potential costs and uncertainty for the companies involved. Chevron posted record second quarter results this week and expects those margins to remain elevated despite higher oil and gas prices over war-driven supply disruptions.
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