US Intercepts Iran Attack on Bases, SK Hynix Profit Miss, More

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Bloomberg News Now 8 min 6 speakers 5 chapters transcribed 1 month ago

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What is the main topic discussed in this episode?

Lucas Shaw 0:00

The entertainment business is changing fast. At Bloomberg Screen Time, we'll bring together the executives, creators, investors, and entrepreneurs shaping what's next in Hollywood, music, sports, and gaming. We'll talk about the biggest stories in media, like the merger of Paramount and Warner Brothers, the booming live events business, and the potential impact of AI. I'm Lucas Shaw, and I'll be hosting Bloomberg Screen Time in Los Angeles September 30th and October 1st. Join us and request your invitation today at bloomberglive.com slash screentime slash radio.

Doug Krisner 0:31

News when you want it. With Bloomberg News Now, I'm Doug Krisner. Crude oil prices are rallying after a flare-up of military action across the Middle East. Earlier, Iran-backed militias in Iraq fired drones at oil facilities in Saudi Arabia's eastern region. And at the same time, Axios reported Iran launched missiles toward a U.S. military base in Jordan. Then we had CENTCOM reporting that all missiles targeting U.S. service members have been intercepted. And now the U.S. military is saying both American and Saudi forces have struck weapon sites used by Iran-backed militias in Iraq. President Trump and Israeli Prime Minister Benjamin Netanyahu met today at the White House. This was their first meeting since the beginning of war with Iran.

Doug Krisner 1:16

Trump also met with Ukrainian President Volodymyr Zelensky. Now, Zelensky said they discussed licenses for Patriot interceptor production and other ideas to help Ukraine defend against Russian missile and drone strikes. These meetings, by the way, took place before the funeral service for the late Senator Lindsey Graham, where President Trump gave the eulogy.

Donald Trump 1:38

Lindsey Graham believed in a strong America, wanted a strong America. He had unwavering faith in the righteousness of American power and prayer. He was extremely hawkish, I will tell you. He never saw war that he didn't like. Only his true friends would understand that, but he wanted it for the good of our country.

Doug Krisner 2:01

Ahead of Graham's funeral, a bipartisan group of senators announced an agreement to move forward on a highly anticipated Russia and Iran sanctions bill named in honor of the late senator. Here is Mark Warner, Democratic senator of Virginia.

Unknown 2:15

We will stand with Ukraine, stopping the flow of blood money fueling Russia's slaughter and its murderous invasion and bringing Putin to the table.

Doug Krisner 2:30

That was U.S. Senator Mark Warner, Democrat from Virginia. Now, this bill has a strong chance of passing the Senate this week. However, it would not become law until September at the earliest since the House has left for the August recess. The Senate has confirmed Jay Clayton as Director of National Intelligence.

How did U.S. forces intercept missiles launched toward a U.S. base in Jordan?

Doug Krisner 2:48

He will replace Interim Director Bill Pulte. Clayton is the former top federal prosecutor in Manhattan. His nomination process did raise concerns, however, including his refusal to say who won the 2020 election. In South Korea, chipmaker SK Hynix reported operating profit for the second quarter below expectations. In local currency terms, quarterly profit rose 557%.

Which Iran-backed militias carried out drone and missile strikes on regional oil and weapons sites?

Doug Krisner 3:16

That was smaller than expected. Later in the call with analyst, SK Hynix remained bullish on the outlook for memory chip demand in 2027. Here is Bloomberg's Winnie Hsu.

Unknown 3:26

Investors really like the fact that the company has finalized these long-term agreements with their key 10 customers. So even our Bloomberg intelligence analysts were saying that they see this growth to be more sustainable going forward from third quarter because of these longer-term contracts and that this will likely going to be able to support the key pack spending that the company has been putting in.

Doug Krisner 3:53

That is Bloomberg's Winnie Su. NVIDIA CEO Jensen Huang defended open-weight AI systems as being crucial to developing the nascent artificial intelligence industry. Huang's remarks came after a meeting with U.S. lawmakers in Washington as the government considers how to respond to a surprise breakthrough from the Chinese AI startup Moonshot. Here is Huang.

Jensen Huang 4:17

We need open weight for the American industry.