US Bombs Iran for Ninth Day, Burnham is UK’s New Prime Minister
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News when you want it with Bloomberg News Now. I'm Karen Moscow. The U.S. has conducted a ninth straight day of airstrikes on Iran targeting military targets and communications networks. It comes as the U.S. death toll rises to 17 since the war began. Bloomberg's Stuart Livingston Wallace says there were a series of escalatory actions this weekend and that the standoff between the U.S. and Iran is showing no signs of easing.
Number one to point out is that Iran went after a power and desalination plant twice in Kuwait. That at least seems to signal an escalation in terms of moving away from what have been predominantly military targets to what is clearly a civilian target. Secondly, there was some worries about a potential attack on Aqaba in Jordan, though some confusion about whether it actually happened. But the significance of that is that it sits right on the border with Israel. Third, there was a report by Saudi Arabia of a threat on its borders. And then finally, the death of more US service people, which is clearly a concern in terms of the political pressure that it potentially puts on the US president.
Bloomberg's Stuart Livingston Wallace says the attacks near Israel and Saudi Arabia could prompt those nations to strike back, further escalating the war. The war in Iran is now in its 21st week, and Democratic Senator Mark Warner has been one of the war's most vocal critics.
This is what happens when you start a war of choice. And as a member of the Gang of Eight, I can say unequivocally there was no imminent threat from Iran. You start a war of choice without a plan.
And Warner, the ranking Democrat on the Senate Intelligence Committee, made the comments on CBS's Face the Nation. AAA says gas prices are once again above $4 a gallon. The average price a year ago was $3.14 a gallon. Meanwhile, checking oil this morning, NYMEX crude oil is lower, down 0.3% at $82.26 a barrel.
What are the latest U.S. airstrike actions in Iran and how long have they continued?
Brent is higher, up 0.2% at $88.27. In Europe, Andy Burnham is officially Britain's new prime minister. In his first address from Downing Street, he's expected to say Britain can look to the future with hope and unity, but must also be honest about the challenges it faces. Former Prime Minister Keir Starmer spoke earlier this morning.
It has been the privilege of my life to serve you and this great country as prime minister. And I am confident that Britain is now stronger and fairer than it was two years ago.
And Burnham will take office with more than a million households behind on their electricity bills, while personal insolvencies in the U.K. have risen to their highest level since early 2010. In the U.S., Democrats in Maine are close to naming a replacement for Graham Plattner as their Senate nominee, and Nathan Hager has more from Washington.
Former State Senator Troy Jackson has secured a large majority of delegates ahead of a nominating convention this Saturday. Two of his main competitors, Maine Secretary of State Shana Bellows and former top state health official Nirav Shah, dropped out of the race yesterday. If his support holds, Jackson will face Republican Senator Susan Collins in November. Plattner ended his campaign earlier this month over sexual assault allegations he denies. Jackson made a similar appeal to Plattner's in his unsuccessful run for governor on workers' rights, universal health care, and higher taxes on the wealthy. Nathan Hager, Bloomberg Radio.
All right, Nathan, thank you. We turn to the markets. Our futures are higher following last week's tech-led sell-off on Wall Street. Week two of earnings season with tech names will be in focus. We get details with Bloomberg's Charlie Pellett.
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