Trump Touts Blockade Fee, 12 States Suing Paramount, More

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Bloomberg News Now 6 min 5 speakers 4 chapters transcribed 2 months ago

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Transcript generated automatically by AI and may contain errors.

What stories open Bloomberg's news roundup today?

Francine Lacqua 0:00

This week on Leaders, with me, Francine Lacqua. I speak to tennis legend Rafa Nadal about how he stayed competitive despite injury.

Rafa Nadal 0:08

I was able to enjoy the victories probably more than if I will not have this issue.

Francine Lacqua 0:13

One iconic match.

Rafa Nadal 0:15

In my mind was, I am almost dead.

Francine Lacqua 0:19

And whether he misses playing.

Rafa Nadal 0:21

I don't miss tennis because there was nothing else to offer.

Francine Lacqua 0:24

Listen and watch Leaders with me, Francine Lacroix, on Bloomberg Television or wherever you get your podcasts.

Amy Morris 0:32

News when you want it with Bloomberg News Now. I'm Amy Morris. The U.S. and Iran continued fighting overnight into today and disputed whether the Strait of Hormuz is open. President Trump says the U.S. is going to reinstate its blockade of Iranian ships transiting the strait, calling the U.S. the guardian of the strait, telling Fox News he's demanding a 20 percent reimbursement on all other cargo shipped through that waterway.

Unknown 0:56

We guarded the strait for 50 years more. We guarded it for nothing. And now we're going to guard it and we're going to get paid for guarding it. A lot of money.

Amy Morris 1:03

Iran says the agreement with the U.S. has undoubtedly entered a crisis phase. Oil prices extended their gains after Trump's comments. WTI near $76 a barrel. Brent crude topping $80 a barrel. Now, Delta CEO Ed Bastian says Delta will do just fine with the international travel season looking healthy. But he says higher oil prices are going to be here a while.

Unknown 1:26

I think oil is going to stay sticky for longer. I'm not sure it's going to be in crude, though. I think the refined costs or cracked spreads are where you're going to find it's going to take a lot longer for that to come down.

Amy Morris 1:38

Hear our entire interview with Delta CEO Ed Bastian on the Bloomberg Talks podcast. Delta shares right now 1% lower. A group of about a dozen states plans a lawsuit to block Paramount Skydance from buying Warner Brothers Discovery. Sources tell Bloomberg the antitrust lawsuit is set to be filed in federal court. The deal would combine two of the five largest U.S.

What did President Trump say about reinstating a blockade and charging transit fees through the Strait of Hormuz?

Amy Morris 1:59

film studios and has been cleared by the Justice Department, but it faces opposition from Democrats and many in Hollywood. FCC Chairman Brendan Carr. For our part, we do have a piece of this with respect to some of the foreign investment, and we're running a standard process on that, and we haven't made a final decision there yet. FCC Chair Brendan Carr was a guest on Bloomberg Tech. Paramount's Guidance shares are 2% higher. Warner Brothers shares more than 2% higher. A sell-off in tech giants sent stocks lower. The market also falling as oil jumped. We check markets for you all day long here at Bloomberg. The S&P 500 down 0.6%. NASDAQ down 1.25%. The Dow down 0.3%. The 10-year Treasury yield at 4.61%.

Amy Morris 2:43

The two-year yield at 4.26%. The Philadelphia Semiconductor Index is about 4.5% lower, with Micron providing the biggest drag on the index, falling nearly 5%. SK Hynix fell 17%. It was the biggest full-day retreat on record. Apple filing a lawsuit against OpenAI, alleging the company systematically stole its intellectual property by asking former Apple employees... to bring information about unreleased products. Apple is seeking monetary damages, shares of Apple less than 1% higher. Fed Governor Christopher Waller says policymakers may need to raise rates in the near term if underlying inflation continues to signal broad price pressures. Waller emphasized the economy is in good shape, with the labor market appearing stable and consumer demand resilient.

Amy Morris 3:31

But he says monetary policy is at a crossroads.

Unknown 3:34

I am concerned about the equally plausible case that data in the coming weeks will show that inflation will remain at its elevated level or even trend higher. requiring tighter monetary policy in the near term.

Amy Morris 3:47

Treasury spell on Fed Governor Christopher Waller's comments that a near-term rate hike may be possible. A federal appeals court says Canview, the maker of Tylenol, must face lawsuits claiming that Canview hid alleged risks of autism in children if their mothers took Tylenol while they were pregnant.