US and Iran Move Closer to Deal, SpaceX's Historic IPO, More
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What recent developments are occurring in US-Iran relations?
This is a really stunning development for the AI world. And how you think about your bottom line. Listen to The Big Take from Bloomberg News every weekday afternoon on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. News when you want it with Bloomberg News Now. I'm Monica Ricks. Pakistan says a deal between the U.S. and Iran could be finalized within the next 24 hours. But Iran's foreign ministry is now responding and says it may not happen so fast. It's looking at the possibility of a deal over the next few days. Bloomberg's Laura Davison has more from Washington and weighs in on whether an agreement could be signed electronically.
Having this now, you know, being downgraded essentially to some sort of virtual signing or electronic signing suggests that maybe a deal is not quite as firm or that the two sides are not as confident in this deal, that they don't want to have that photo op moment. You know, thinking back to, you know, when Trump established the Board of Peace and signed this big deal with Gaza, you know, about a year ago, he had, you know, the big display, the backdrop, all the world leaders there. This is not shaping up to be that.
That's Bloomberg's Laura Davison on Bloomberg This Weekend. This comes as CENTCOM says U.S. forces shot down multiple Iranian drones near the Strait yesterday as talks continued. They called it self-defense after Iran downed an army helicopter earlier this week. Oil dropped 3% to end the week, and gas is a little cheaper this morning on hopes for a peace agreement with Iran. For now, though, Energy Secretary Chris Wright says roughly 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz. That's about half the volume left stranded there at the start of this war.
Certainly after an agreement is reached, you'll see free flow of traffic of all products out of the Gulf or whatever. You'll see that either way, if there is no deal with Iran, eventually we would restore that militarily full flow as well.
Wright tells Bloomberg the U.S. will fully reopen the waterway with or without Iran's help, but the two sides may sign a deal on the sidelines of the G7 summit next week. President Trump says the U.S. has killed the leader of a Venezuelan drug cartel known as Tren de Aragua. We get more on that from Bloomberg's Ed Kalecki.
The president says Nino Guerrero was killed in a strike that was coordinated with Venezuela. Trump designated the group as a terrorist organization as one of his earliest acts after returning to office last year. After starting in a prison in Venezuela over a decade ago, the organization spread across Latin America and entered the U.S. in part through its participation in human trafficking and undocumented migration. Some of its senior leaders are thought to be outside Venezuela.
Workers started removing President Trump's name from the Kennedy Center early this morning, hours after a court-ordered deadline to clear his name from the building. The Kennedy Center had requested more time due to thunderstorms. SpaceX ended its first day on the stock market at $2.1 trillion, making it one of the world's most valuable public companies and handing buyers of its IPO a 19% return. Datatrack Research co-founder Nick Kolas says it's a big bet on Elon Musk.
This is a very expensive stock relative to any rational measure of value. But we're talking about Elon Musk, who has a tremendous track record of not just success, but convincing people that success is durable.
The IPO makes Musk the world's first trillionaire. He's now three times richer than his closest rival. Artificial intelligence giant Anthropic took its latest AI models offline overnight to comply with a directive from the Trump administration to prevent their use by foreign nationals.
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