Trump Says US to Hold Off Iran Attack, ID Mass Shooting, More

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Bloomberg News Now 5 min 7 speakers 4 chapters transcribed 1 month ago

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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 Ireland and Schneider Electric. Learn more at BloombergLive.com slash TechLondon.

Monica Ricks 0:30

News when you want it with Bloomberg News. Now I'm Monica Ricks. President Trump says the US will hold off on new strikes against Iran after the Islamic Republic and other Middle Eastern nations reportedly told him they're working towards a deal. The president posted the update on true social last night. saying he'd agreed to cancel the attack, subject to a deal that includes the immediate, complete and total opening of the Strait of Hormuz and an end to Iran's nuclear threat. Trump says Israel has also agreed to join him in the commitment, but Prime Minister Benjamin Netanyahu has yet to comment. Major OPEC-plus nations have agreed in principle to another token increase in their production quotas for September as the war in the Middle East rages on.

Monica Ricks 1:12

Seven members led by Saudi Arabia and Russia meet virtually later today and are likely to agree to boost their collective target by 188,000 barrels a day next month. The group has raised quotas every month since the war started, even as supply from the region remains constrained by the conflict. Investigators in Idaho are looking into why a shooter opened fire at an In-N-Out in Twin Falls, killing at least three people and injuring seven others. Police Chief Matthew Hicks.

Police Chief Matthew Hicks 1:40

We are working trying to ascertain his identity and the motivations behind that. We'll be able to figure that out in the coming days.

Monica Ricks 1:46

He says the shooter is dead, but it's unclear how he died. Police are still interviewing people who were at that busy shopping center when it happened. More protests in Ceuta, Spain this weekend, where tens of thousands of migrants have tried to breach a sea barrier and cross into Morocco to seek better economic opportunities. Dozens have died trying. Meantime, conditions are getting worse in Greece now, where wildfires are still raging near Athens. Multiple fires have also flared up in France as extreme heat blankets Europe. Here at home, Washington State Governor Bob Ferguson has declared a state of emergency as firefighters tackle more than two dozen wildfires in and around Spokane. The governor says thousands have been ordered to leave their homes.

Governor Bob Ferguson 2:29

Our state's facing a very serious situation with multiple fires and our hearts go out to Washingtonians who are losing their homes and being evacuated.

Monica Ricks 2:40

Governor Ferguson says record-setting drought and strong winds are fueling those dangerous conditions. Bill Pulte's two-month tenure as acting director of national intelligence will officially come to an end tomorrow when he hands the reins over to Jay Clayton, who was confirmed by the Senate on Tuesday. The White House has yet to say when he'll be sworn in. and pressures building for FIFA President Gianni Infantino to resign over his scrapped plan to sell private stakes in the World Cup. The FIFA Council's attempting to force a general meeting soon after several soccer organizations, including UEFA, blasted the plan and announced they'd lost confidence in Infantino's leadership. Japan's finance minister set to announce its joint venture with the U.S.

Monica Ricks 3:22

tomorrow to help curb the yen's weakness. The currency was quoted at 157.40 to the dollar Friday, its strongest since early May. Kevin Gordon is head of macro research and strategy at Schwab.

Why did President Trump say the US will hold off on strikes against Iran?

Kevin Gordon 3:34

For Japan, though, it is kind of a little bit of a poster child example of when you have inflation that is running away a bit in a central bank that's been a little bit more hesitant to tighten policy at a more extreme rate. But the set of issues that Japan deals with, from demographics to debt, is a little different than the U.S.

Monica Ricks 3:51

Schwab's Kevin Gordon on Bloomberg this weekend.