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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.
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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 Barcero.
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Chapter 2: What recent military actions has the U.S. taken against Iran?
Elsewhere, it is a busy primary day across the U.S. Votes are being cast in Maine, Nevada, North Dakota, and South Carolina. Now, polls are closed in South Carolina, where Senator Lindsey Graham has won the GOP primary. and in the process avoided a runoff. Graham had been endorsed by President Trump. He will now face off against Democratic nominee Annie Andrews.
And in the race for governor in South Carolina, Pamela Yvette and Alan Wilson are both projected to advance in a runoff that will take place in two weeks, the winner of which will face Democratic nominee Jermaine Johnson. In Maine, Democratic nominee Grant Plattner has won the party's Senate primary with about 74% support. Now, this comes despite some recent controversy involving Plattner.
He will now face GOP incumbent Susan Collins, who is running for her sixth term in the U.S. Senate.
Chapter 3: What are the implications of President Trump's retaliation against Iran?
Speaking to supporters tonight, Plattner spoke about the victory and the controversy.
If you believe, as I do, that we can change our politics and change our country... then you must also believe that people can change.
That is Democratic nominee Graham Platner, who has won the party's Senate primary in Maine. And in Nevada tonight, 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. 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.
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