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Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. The U.S. and Iran began peace talks in Switzerland earlier today. The two sides are working within a 60-day window after signing a memorandum of understanding last week. We are told a resolution on the fighting in Lebanon will be decisive for the success of these talks.
And as meetings got underway, President Trump threatened to strike Iran again if it doesn't immediately stop proxies in Lebanon from causing trouble. And after Trump's threats, Iran's semi-official Fars News Agency reported peace talks have been halted. However, sources in Switzerland say Iranian negotiators are still engaged with the U.S.
Bloomberg's Wendy Benjaminson says both sides can benefit from a deal.
Iran has every reason to sign this. Trump has every reason to sign it, or the U.S. does as well. even though so many people, even Republicans in Congress, are saying that the U.S. is really giving away the store here. But the war will be over. The midterms will happen with gas prices coming down. We just heard J.D.
Vance say that his accomplishment, what he hopes to accomplish at these talks, is to open the Strait of Hormuz and end Iran's nuclear program, the second of which May or may not happen.
That is Bloomberg's Wendy Benjaminson speaking on Bloomberg this weekend. Washington and Tehran are offering different narratives on the state of peace talks and the status of the Strait of Hormuz. On Saturday, Iran said it closed the strait after clashes between Israel and Hezbollah. However, Bloomberg tracking data show oil exports are still flowing. Here is U.S.
Energy Secretary Chris Wright speaking on ABC's This Week.
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Chapter 2: What recent developments occurred in US-Iran peace talks?
We've got cooperation with all the other energy producers of the world. So I think Americans can expect continued declines in energy prices.
That is U.S. Energy Secretary Chris Wright speaking on ABC's This Week. Now, on Saturday, U.S. Central Command said 17 million barrels had passed through Hormuz. Even so, the CEO of commercial insurer Chubb Limited says security remains volatile. Evan Greenberg told Fox News' Sunday Morning Futures it's a war zone environment.
It's a bit uncertain. It's from day to day, hour to hour. But the US military is providing vigilance and protection to ships that are transiting the straits. It's important that that international waterway, which is important to the world, commerce be open and transited by ships from all countries. And so we're doing our part to provide protection and certainty in that regard.
That is Evan Greenberg, the CEO of Chubb Limited. Now, last Friday, Chubb, together with Lloyds of London, announced a joint $400 million marine war risk consortium offering companies insurance for passage through the Strait of Hormuz. In sports, Wyndham Clark has won his second U.S.
Chapter 3: What impact do President Trump's threats have on negotiations with Iran?
Open title. Clark finished four under par for a one-shot win over Sam Burns at Shinnecock Hill Golf Club. In the U.K., allies of Prime Minister Keir Starmer are expecting him to set out a timetable for resignation in the as soon as Monday. Now, Starmer is facing political pressure from his Labour Party colleagues after rival Andy Burnham won a special election for a parliamentary seat last week.
Burnham will be sworn in as MP on Monday, making him eligible to launch a leadership challenge against Starmer. Here is Bloomberg's James Woolcock.
25% of Labour's own MPs have called for Keir Starmer to go. This has been building. There's been building and building and building. And Keir Starmer will say everything is fine. He's in charge. It feels like we might be at the tipping point where the private bitter infighting is going to lead to a public change. But I'll say until the prime minister says something, it's still private infighting.
That is Bloomberg's James Woolcock. President Trump clashed again with Italian Prime Minister Giorgio Maloney over the weekend. Trump insisted Maloney ask over and over for a photo with him at the recent G7 summit, something Maloney called completely fabricated. Trump also criticized what he said was Italy's lack of cooperation during the war with Iran.
Then writing in English on Instagram, Maloney called Trump's constant, unprovoked attacks senseless. In Washington, an FDA panel has signed off on a first-of-its-kind flu vaccine using mRNA technology. More from Bloomberg's Amy Morris in Washington.
The new shot is made with the same mRNA technology that was key to ending the COVID-19 pandemic. Moderna is seeking Food and Drug Administration approval for M. fluciva as an option for people 50 and older. There are already several types of flu vaccines to choose from, but experts say adding a faster-to-manufacture mRNA option could be useful.
This move by the advisory committee is another step toward a final decision ahead of the winter flu season. In Washington, Amy Morris, Bloomberg Radio.
The Fed's favorite inflation gauge is due this week, and it will likely show things are getting worse. More from Bloomberg's Monica Ricks.
We'll get the personal consumption expenditures price index on Thursday, which is expected to show acceleration on both a monthly and year-over-year basis in May and reinforce the need for interest rate hikes as energy shocks continue spreading across the economy. But it's not just in the U.S.
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