US Strikes Iran, Knicks 107-106 Victory, More
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News when you want it with Bloomberg News Now. I'm Caroline Hepker. And I'm Stephen Carroll. The United States says that it has carried out multiple strikes on targets in Iran after President Trump accused Tehran of dragging out talks on an interim peace deal. The attacks come just 24 hours after earlier US strikes, which were launched in retaliation. for the downing of an American Apache helicopter. In an interview with Fox News, Trump said that he had spoken directly to senior Iranian officials and warned that the US would carry out further strikes on Thursday unless Iran's leadership agreed to sign a deal. William Roebuck is executive vice president at the Arab Gulf States Institute.
He wants a deal that's better than what President Obama got or what Biden looked at. He thinks the JCPOA was a bad deal and he's gone to war over it.
former U.S. Ambassador to Bahrain William Robach there. Before the latest strikes, Iran's semi-official Tasnim news agency reported that the country's armed forces were fully prepared for fresh attacks and capable of targeting additional American assets. Meanwhile, with the Strait of Hormuz still largely closed, new data shows that U.S. crude inventories fell by 7.2 million barrels last week as the drawdown in global oil reserves continues. New analysis from Bloomberg Economics shows the risk of Europe falling further behind the US if the EU doesn't enact major reforms. They estimate that if Europe does not follow Mario Draghi's recommendations to increase investment and deepen integration, its output gap with the US could double by 2040 to 7 trillion euros.
Former EU Commissioner Margareta Vestager has told Bloomberg Radio it's time for Europe to take a leap of faith.
Europe is the best place to live ever in history. And as I usually say, especially if you're a woman, but that is not good enough because a lot of people feel that their future is not secured. Their children cannot get their own place to live and so on and so forth. So I think it's really important for Europe to realize this is not a race to be more Chinese or more American. This is a race for Europe to be a much better version of herself. And being that, also being more competitive, more focused.
Margaret Vestager was Executive Vice President of the European Commission until 2024. The Bloomberg Economics analysis shows that if the EU does adopt the changes Draghi outlines, it could roughly double its expected growth rate to 2% and keep pace with the US, potentially even closing the gap over time. European companies' profit margins are poised for their first growth since 2022. The expansion has been driven by soaring commodity prices and artificial intelligence.
What recent actions did the US take against Iran?
Bloomberg's Tiba Adebayo has the story.
Oil companies, miners, chip makers and banks are the big winners among European firms. Bloomberg Intelligence data forecasts operating margins to grow almost 8% for stock 600 companies this year. That's after three consecutive years of declines. Rising crude prices have made big oil the biggest contributor to the reversal. Banks are being boosted by higher rates and savings from AI-led job cuts. But despite the progress, Europe's margin recovery remains fragile as the Iran war continues to disrupt energy markets. And if inflation remains sticky, the outlook for consumer companies may darken further. In London, Tiwa Adebayo, Bloomberg Radio.
What are the implications of the US strikes on Iran?
The European Central Bank is expected to raise interest rates for the first time since 2023 today, with more than three months of conflict in the Middle East, keeping oil prices elevated.
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