US-Iran Strikes, 10K Heat Wave Deaths, More
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What is the main topic discussed in this episode?
The Bloomberg This Weekend Podcast. News, analysis, and the lighter side of Bloomberg. Including our weekly news quiz. Mattel reported higher than expected first quarter revenue thanks to the demand for which toy car brand?
Hot Wheels.
Hot Wheels. Hot Wheels, yes! Are those still a thing? I've stepped on many of those with my children when they were young. Yes, labels on those are not awesome. They hurt very much on bare feet. The Bloomberg This Weekend Podcast. Subscribe today on Apple, Spotify, or wherever you listen.
News when you want it with Bloomberg News Now. I'm James Walcock.
And I'm Caroline Hepker.
The United States has attacked Iran for the fourth time in a week, with Tehran once again launching strikes in retaliation across the Middle East. The US military says it bombed dozens of Iranian targets, including air defence systems and coastal radar sites. Iran's state news agency says the country's retaliatory operations are continuing, with reports of attacks on Jordan's Prince Hassan airbase and commercial ships. Tehran also claims the Strait of Hormuz is now closed. Speaking to ABC's This Week programme, US Ambassador to the UN Mike Waltz says Iran is attempting to hold the world hostage.
I think Iran is still very much of the mindset that it can use the global economy as some type of leverage. Not just the United States, but we've said here at the United Nations, 143 nations have stood together and said what Iran is doing is in violation of international law. Regardless of whether you're party to some conflict, you cannot start shooting in all directions, attacking your neighbors, attacking civilian shipping.
Mike Waltz spoke to ABC as there was almost no visible traffic in the Strait of Hormuz today, despite US insistence that the waterway remains open. Data analysed by Bloomberg shows six commodity carriers travelling through the Strait on Sunday, all with their transponders turned off.
The latest strikes in the Middle East have revived concerns that higher energy prices will keep inflation elevated and rates higher for longer. Brent crude has climbed and is trading just below $79 a barrel. Treasuries have dropped across the curve, as have European sovereign bonds with yields rising. The US dollar strengthened on speculation that the Fed will now be forced to raise rates to cool inflationary pressures with all eyes on the latest US CPI data out tomorrow. That also made non-yielding precious metals less appealing, sending gold and silver lower.
TSMC has delivered an update that signals global demand for AI remains strong. The world's largest contract chipmaker reported a 36% jump in quarterly sales. Revenue for the three months to June equated to around $39.6 billion, matching the average analyst estimate. TSMC is the main chip supplier to Nvidia and Apple, making it a key barometer of the
What happened in the latest US-Iran strikes and where did they occur?
global AI infrastructure build out. The Taiwanese chipmaker is set to release full earnings and provide an update on its full year outlook and spending this Thursday.
Three prominent artificial intelligence developers, meanwhile, have released new models in the past week. And while they promise to be more advanced, all three are emphasising reduced costs with more Hispingberg's UN parts.
Only a few months ago, firms were encouraging employees to outdo one another by using as much AI as possible. But as more and more companies balk at the resulting bills, AI developers are stressing not just the power, but also the efficiency of their new models. OpenAI says GPT 5.6 completes more work while using significantly fewer tokens. Grok 4.5 from Elon Musk's SpaceX AI is billed as having twice the token efficiency as comparable models from other firms.
Which Iranian targets did the US military say it bombed and why?
Meta boss Mark Zuckerberg recently told Bloomberg that the pricing for its Muse Spark 1.1 is very attractive. In London, I'm Ewan Potts, Bloomberg Radio.
Europe recorded more than 10,000 excess deaths during the record-breaking heatwave at the end of June. Data from the monitoring service Euromomo shows the vast majority of those were among people aged 65 and above.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:58
2
What happened in the latest US-Iran strikes and where did they occur?
2:58–3:49
3
Which Iranian targets did the US military say it bombed and why?
3:49–4:24
4
How has Tehran responded and what are reports about the Strait of Hormuz?
4:24–7:39
Speakers
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