Trump Says Iran Talks to Begin Monday, Oil Prices Slump, More
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News when you want it with Bloomberg News Now. I'm Charlie Pellett. We are seeing a major sell-off in crude oil, down roughly 5% after President Trump said he called off a massive attack on Iran after allies in the Middle East, including Saudi Arabia, asked him to pursue a deal instead. And new talks will begin on Monday, he made the comment to reporters on Air Force One. Here's Senate Republican James Lankford, vice chair of the Senate Republican Conference, interviewed on Fox News Sunday.
We use military force and the president's been very careful in using military force only to be able to get them to the table to actually negotiate. No one wants to see a war. No one wants to see a conflict. There's a lot of things that go sideways during that during any kind of conflict like this. So using diplomacy is the best way to be able to resolve it long term. But when you have to use force to get people to do diplomacy, you have to use force.
Senator James Lankford interviewed on Fox News Sunday. President Trump, meanwhile, says Israel has agreed to join him in the commitment. Dan Williams covers the Middle East for Bloomberg, but says Prime Minister Benjamin Netanyahu has not confirmed it.
The Israeli Prime Minister Netanyahu was due to hold a weekly cabinet meeting. They generally are held on Sundays. And that's usually a time when he addresses the affairs of the day. And given that he just returned from Washington, traditionally, this is when he would brief his ministers on what was achieved in that trip. That hasn't happened. He hasn't commented at all about this, nor about Washington.
the president's surprise announcement on friday that hamas would disarm in the gaza strip that's obviously linked to this iran crisis bloomberg's dan williams interviewed on bloomberg this weekend sources tell bloomberg astrazeneca has explored an acquisition of bristol meyer squibb in a mega deal that would create one of the world's largest drug makers The companies have held early stage discussions about combining. It is unclear if discussions are ongoing or whether they will result in a transaction. Bristol-Myers Squibb, which has a $133 billion market cap, could provide AstraZeneca with a bigger foothold in the U.S. market. AstraZeneca's market cap is about $264 billion. Major OPEC-plus nations have approved the latest small increase to their production quotas, a move that will complete the theoretical revival of supplies halted in 2023 and give them scope to add more barrels once the Middle East war ends.
The White House says the Trump administration is shifting focus from deregulating to helping the private sector build physical infrastructure. And with more from Washington, here's Bloomberg's Amy Morris.
Why did President Trump call off a massive attack on Iran and announce talks starting Monday?
White House officials tell Bloomberg the Trump administration has done enough deregulating that it can now concentrate more intensely on helping the private sector build factories, data centers, mines, and other physical infrastructure. 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 will be on the Federal Reserve's Economic Policy Symposium at the end of this month in Jackson Hole, Wyoming, when Fed Chair Kevin Warr speaks. Richard Clarida is former Vice Chair of the Federal Reserve.
I think Jackson Hole may serve a couple of purposes. Historically, as we've seen, chairs have used Jackson Hole as sort of a sneak preview of coming attractions at the September, November, and December meetings.
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