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Chapter 1: What is the main topic discussed in this episode?
The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. 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 Doug Krisner. Within the last hour, U.S. forces launched self-defense strikes against Iran. Now, they came in response to the downing of a U.S. Army helicopter near the Strait of Hormuz early Tuesday. Earlier in the day, President Trump vowed to retaliate after blaming Iran for the attack.
In a post on social media, Trump said the two crew members involved were both safe and uninjured. Now, the Pentagon said an autonomous surface vessel was used in their rescue. This was the first time an unmanned vehicle was used in such an operation. Incidentally, this attack came just hours after President Trump's most recent claim that an agreement to end the fighting with Iran was close.
That's even though tension between Israel and Lebanon threatened to push the Middle East back into a wider war. Here is Bloomberg's Tyler Kendall.
We've seen Israel in recent days target Iranian infrastructure and energy sites. That, of course, has been a main point in this watching if the U.S. would hit energy sites, something that we spoke about before the ceasefire had been in place. So what the U.S. chooses to target in retaliation will tell us a lot about perhaps the trajectory and what sort of escalation we could see.
That is Bloomberg's Tyler Kendall. Now, Iran's foreign minister said foreign forces in proximity to Iranian territory are at constant risk. And he added the best solution is for them to leave. A bill to provide nearly $70 billion for immigration enforcement has narrowly passed the House. It now goes to President Trump for his signature.
Republicans use their majority to get the bill over the finish line, funding a pair of Homeland Security agencies through the next three years. This bill, by the way, passed with a vote of 214 to 212 over the objection of Democrats. We've now got results for the California primary for governor.
Republican Steve Hilton is advancing to November's general election, where he will face off against former state AG Javier Becerra.
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Chapter 2: What recent military actions have the U.S. taken against Iran?
Elsewhere, it's a busy primary day across the U.S. Votes are being cast in Maine, Nevada, North Dakota, and South Carolina. Now, polls have already closed in South Carolina, with Senator Lindsey Graham leading in the Republican primary as he attempts to avoid a runoff. We also have in South Carolina, the race for governor, as we hear from Bloomberg's Greg Giroux.
You know, five active candidates running there. And you have the lieutenant governor, Pamela Evatt, who was endorsed by President Donald Trump, currently in first place with 28% of the vote, well below the majority needed to win. No one expected anyone to win a majority of the vote here. The second place person right now is State Attorney General Alan Wilson. Also another statewide officeholder.
I think the story so far is that the trailing the pack are the two U.S. House members, Ralph Norman in fourth place and Nancy Mace in fifth place.
Chapter 3: How did President Trump respond to the helicopter incident?
It looks like they're going to be shut out of the race right now with Pamela Evatt and Alan Wilson in the first two spots for that race. further off election in two weeks.
Meantime, in Maine, polls have also closed. Bloomberg's Kayleigh Lyons tells us Maine's Democratic Senate primary has turned into a test after a series of scandals for frontrunner Graham Plattner.
There is a lot stacking up against him that could make the politics around his campaign more difficult heading into a general election in November against Susan Collins, who is, by the way, an incredibly vulnerable candidate. She obviously has had to break with President Trump on a number of issues recently to try to keep that independent streak that seems to win over the voters in Maine.
That is Bloomberg's Kayleigh Lyons. And in Nevada tonight, polls are still open. Democrats are hoping to flip the governor's seat held by vulnerable Republican incumbent Joe Lombardo. SpaceX has reportedly drawn more than $250 billion in investor demand for its IPO.
Reuters is reporting the deal's oversubscription rate is running at between three and a half to four times the planned offering size. By the way, this IPO is set to begin trading on June 12th.
Senate Democrats are refusing to extend the ability of intelligence agencies to monitor suspected foreign communications with Americans if Bill Pulte is put in charge of those agencies as director of national intelligence. House Speaker Mike Johnson went to the White House today to discuss how to deal with this impasse. And we heard from House Majority Leader Steve Scalise.
Everybody has acknowledged this is a critical tool in America's national security. If somebody wants to play games and say, well, they might not agree with an appointment, you're really going to jeopardize the national security of America over a personality issue. Anybody that would vote against that is putting America's national security at risk.
That is House Majority Leader Steve Scalise. IBM has committed more than $10 billion to advance potential uses of quantum computing through its Project Lightwell.
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Chapter 4: What implications does the U.S. retaliation have for Middle East tensions?
Today, IBM CEO Arvind Krishna spoke about it with Bloomberg's Romain Bostic at the Mizeho Technology Conference in New York.
Our investment in Lightwell, I think a lot of people can point out the problems and point out vulnerabilities. Our investment in Lightwell is actually about fixing them. So we are saying that not just open source that we are good at, but if you have open source and the source code is known, we can use these same tools that are used to find vulnerabilities to also create the fix.
and give it back to the community.
That is IBM CEO Arvind Krishna. Anthropic is widely releasing a version of its Mythos AI model that will be blocked from carrying out cybersecurity tasks. This move comes months after Anthropic warned Mythos could spot and exploit vulnerabilities in critical software. Weeks after the successful lunar flyby by the crew of Artemis II, NASA has revealed the astronauts for the next Artemis mission.
Artemis III is planned for 2027. It will have four astronauts, three Americans and one Italian. The crew is expected to fly in low Earth orbit and test out rendezvous and docking capabilities between the Orion spacecraft and commercial landers with NASA partners Blue Origin and SpaceX. And that is News When You Want It with Bloomberg News Now. I'm Doug Krisner, and this is Bloomberg.
The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics. Change businesses. 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. The Big Take podcast from Bloomberg News keeps you on top of the biggest stories of the day. My fellow Americans, this is Liberation Day. Stories that move markets. Chair Powell opened the door to this first interest rate cut. Impact politics.
Change businesses. 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.
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Sign in to access all 8 segments of this chapter and more.
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