Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen efforts to end the war, where Iran are getting complicated now and Iranian media report says the latest US proposal to stop the fighting has narrowed the gaps to some extent. But Reuters is reporting that Iran Supreme Leader mocht To Bhamani has ordered the country's highly enriched geranium stockpile not to be sent abroad. President Trump says that is a non starter.
We get the highly enriched, we will get it. We don't need it, we don't want it. We'll probably destroy it after we get it, but we're not going to let.
Them have it.
The President Trump's also coming out against a plan by Iran and Oman to set up a permanent toll system through the Strait of horm Moves. Bloomberg Stewart Livingston Wallace reports that could be a major sticking point.
This is, as Trump says, an international Wolshoy condition that you don't have tolls on that, and I think it would be very difficult for the international community, not least the liberal states here, and you know, the regional states to accept that going forward, they have to pay a toll to either Iran or o'mano both in order to move their goods through.
Bloomberg Steart living Ston Wallace reports President Trump's threatened to resume attacks within days if Iran does not agree to his terms, though he has made that threat several times before.
Meantime, Nathan on Capitol Hill, House Republican leaders abruptly called off a vote to authorize the Iran War. Armed Services Chair Mike Rodgers says not enough Republicans or president for the vote. Massachusetts Democrat Jim mc govern says, it's because they're running out of support. Cash prices it through the road.
People can't afford.
People can afford their groceries.
Is that why you're pulling it?
You guys don't have the gos.
The the House will be in order.
Democrat Jim mc govern blasted the canceled vote on the House floor. Last week, the House ted on a similar vote that Democrats have been forcing repeatedly to highlight the growing economic toll from the war and Karin.
The war could also be affecting President Trump's decision to sign off on a fourteen billion dollar arm sale to Taiwan. Acting Navy Secretary Hon Kou told a Senate committee that the US has put a temporary hold on arm sales to the island to ensure the US has enough supplies for the conflict. A spokesman for Taiwan's president says there is currently no indication that the US plans to make any adjustments to the sale.
Nathan President Trump says he plans to send five thousand troops to Poland. The decision reverses a plan to suspend an army deployment to Poland, which was paused by the Pentagon a week earlier. Began more from Bloomberg Chief European correspondent Oliver.
Crook, the United States found that actually the quickest way to pull troops out of Europe was to block the rotation that was coming into Poland. And obviously Poland is seen as a more model ally at the moment to the United States because they're not being as disparaging as Donald Trump. And they sort of reversed that move saying that actually they're going to send five thousand troops to Poland.
So I think net we're talking about still a reduction in truth for the Germans, but they didn't want to punish the polls. Interestingly, for some reason, Donald Trump and cited the fact that the Poles had elected the president who was an ally of Trump, but that was August of last year, so anyway, it was a sort of a jumbled message here. But it seems that broadly speaking, still their plan is to remove troops from Germany. They
don't want to punish Poland. And overall, we should say that the American posture is they do want to reduce their troop levels in Europe.
Overall.
Bloomberg Chief European correspondent Oliver Crooks's President Trump has suggested a broader draw down of the US's eighty five thousand military personnel in Europe, and that's in the works.
Man.
Back here in the US, Karen the Senate has left Washington for a week long recess without passing President Trump's seventy two billion dollar immigration package. Bloomberg Zamy Morris reports from Washington.
Republican Senator Shelley Moore Capito explains there were just too many questions about the President's so called anti weaponization fund.
It just became much more complicated. A lot of questions about what is this fund, who decides who's eligible, how did it come about, Why are we hearing about this now?
Senator Shelley Moore Capito on balance of power. Senate Minority Leader Chuck Schumer says, there is a way forward.
Stop backing the slush fund, stop pushing the ballroom, and as soon as we get back, join Democrats in fighting to lower americans costs.
The bill had already faced significant pushback from Republicans over using the bill to fund Trump's ballroom in Washington. Amy Moore as Bloomberg Radio.
Rightimi, thank you all. This is shaping up to be one of the most expensive Memorial Days on record, as millions get set hit the road this weekend. The price of gasoline is more than forty percent higher than a year ago. Bloomberg Economic reporter Mark knick Khatz says that's not the only thing rising for consumers.
We're starting to see a big increase in food prices, but in particular prices for things like beef and lettuce and tomatoes. The average ground beef prices in April broke the seven dollars per pound threshold for the first time, and steak is now past thirteen dollars a pound. Tomatoes are up forty percent compared to this time last year. That's the biggest jump since two thousand.
And four, and Bloomberg's Marketnikhead says economists expect food prices to keep rising, in part because of the diminished supply and rising prices of fertilizer as a result of the around war. You can get more details on the cost of Memorial Day on our special holiday edition of Bloomberg Daybreak. Catch that at five am Wall Street Time on Monday, or on the Daybreak podcast, available wherever you download.
Well, Karen, It's the end of an era. In late night, Stephen Colvert has hosted his final episode of his CBS show and Bloomberg's Alexis Christophers joins us from New York with the recap Alexis.
Good Morning, Nathan. It was an emotional final show after eleven years and eighteen hundred monologue. Stephen Colbert mostly steered clear of political jokes and criticism of President Trump in a star studded final show on CBS. The parade of actors and comedians included Brian Kranston, Paul Rudd, Tim Ryan Reynolds, Who's.
Going to be my last guest.
Now, ayc what about me?
Musician Paul McCartney was Colbert's final guest. He appeared with the Beatles on The Ed Sullivan Show, which filmed in the same theater as Colbert Day Stop. Colbert was singing back up there. Last year a CBS said it was canceling the Late Show because of financial reasons and not because of its content. In New York, Alexis Christophers Bloomberg Radio.
Right, Alexis, thank you. As Colbert departs CBS. It's a new tenure at the Federal Reserve. This morning, Kevin Warshall be sworn in his FED sherman by President Trump at the White House. Bloomberg Economics Anna Wong notes that warsh has said he is committed to preserving the Fed's independence.
You know, at his confirmation hearing, he vigorously denied the idea that he has promised Trump rate cuts. And also, I think a sizeable portion of market participants, including ourselves, suspect that Kevin warsh in fact is a hawk at the heart of things. But the reality is the market is already doing the hiking for him, and he may be happy about that.
Bloomberg Economic Chief US Economist and A Wong. Let's get to a setback now, Nathan for elon Musk, SpaceX and Bloomberg. John Tucker joins us with the latest. John, Good morning, Good.
Morning, Karen. The launch of Starship, the biggest and most powerful rocket ever built, was scrubbed with just forty seconds to go, waiting.
To see if the launch director confirms go for launch and they're in a hold.
A pen holding the tower arm in place failed to retract at the South Texas launch facility. The mission was set a day after Musk company filed publicly for an IPO. As part of that filing, SpaceX has proposed a number of ambitious initiatives that require a Starship to be fully operational. For much of last year, Starship's test flight suffered from repeated explosions. The next launch window will open late this afternoon. I'm John Tucker, Bloomberg Radio.
As we head into Memorial Day weekend, Karen, the auto racing world is morning the death of Kyle Busch, the two time Cup Series champion, won more races than anyone across NASCAR's three national series. Bush's family says he was hospitalized with a severe illness three days before he was set to compete in the Coca Cola six hundred at Charlotte Motor Speedway. Kyle Busch was forty one years old. No cause of death was given.
Time now for a look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael Barr. Michael, good Morning, Good morning.
Karen. Uganda has closed its border with Democratic Republic of Congo to check the spread of an outbreak of the deadly E Bowla virus. It comes as health officials are defending the decision to bar a Detroit bound Air France passenger traveling from an Ebola hot zone in Central Africa from entering the US. The flight from Paris was diverted to Canada, where that passenger did plane. This woman was a passenger on the flight.
The flight attendants all had masks on which no one had had on prior to that announcement, so it was really concerning, like what is going on here?
Canadian officials say the passenger did not show symptoms and is unlikely to spread the ebolavirus. The US is now denying entry to anyone without a US passport who has recently traveled through the affected regions. Any American coming home from the areas have to fly to Washington Dulles Airport to be screened by the CDC. Questions of being raised over how former Cuban President Rooul Castro would be brought
to the US to face charges. On Wednesday, the US issued a federal indictment charging Castro with murder over his alleged role in shooting down two planes that were carrying Humanitari eight to the island in nineteen ninety six. Four US nationals were killed. The Trump administration has been vague in its answers to bring Castro to the US. Secretary of State Marco Rubio, Well.
I'm not going to talk about how we're going to get him here. If we were trying to get him here, why would I say to the media what our plans are about that.
I know you have to ask, But why.
Would I answer that?
Today? Secretary Rubio will attend a NATO Foreign minister's meeting in Sweden. British police are appealing for witnesses in their investigation into potential offenses by former Prince Andrew, including sexual misconduct. A woman alleges she was taken to Windsor in twenty ten for sexual purposes. Andrew has repeatedly denied any wrongdoing. Global News twenty four hours a day and whenever you want it with the Bloomberg News. Now, Michael Barn This is Bloomberg Karen.
Thanks Michael. Time now for our Bloomberg Sports updating. For that, we bring in John stash Hour.
Thanks darn. Tragic news from nascular Kyle Busch died suddenly at the age of forty one. He was planning to be in this weekend. He was the Cup Series champion twice in twenty fifteen to nineteeny one, sixty three Cup Series races in the NBA Playoffs, another win for the Knicks. They've won nine in a row. They've be in Cleveland
in New York one o nine to ninety three. Josh Hart score twenty six points to the next lead the East Finals two games to none Game one, and the Stanley Coupiast Final in Montreal, won sixty two at Carolina. That's you, Bloomberg Sports fifteen.
Stay with us. More from Bloomberg Day Break coming up after this.
Coast to Coast on Bloomberg Radio nationwide on Sirius XM and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak.
Good Morning on Nathan Hager. Is The standoff between the US and Iran continues. Tehran says the latest US proposal to end the fighting has narrowed the gaps to some extent, but President Trump says he won't budge when it comes to Iran giving up its enriched geranium.
Right now when negotiating, and we'll see.
But either we're gonna get it way the other they're not going.
To have a nuclear open.
That was President Trump speaking in the Oval Office, joining us from Dubai. This morning is Bloomberg News Middle East Managing Editor Paul Wallace. Paul, where do things stand now in the talks? It seems like we keep hearing conflicting statements. Good morning, Hi, Good morning.
Yes, we're still in that phase where each side, both the Uranians in the US are making conflicting statements and vacillating between threats to resume hostilities or react powerfully to any new strikes on their territory, and also some optimistic
words thrown in there as well. I think it is notable that the Iranians yesterday, through their state media, said that the latest US proposal proposal partly bridged the gaps between between the warring countries, and Marco Rubio on his trip to Europe, the Sectary of State has said similar that, you know, there has been slight levels of progress, so they're being cautious, but it is the first time in at least a week that either side is talking about
Iran in the US potentially moving closer to a deal, but it's still we're still in a very fragile phase and there's no guarantee that we won't see a return to a hot war in the coming few days or weeks.
And in the meantime, Paul, we're hearing more as well from the United Arab Emirates about this week's drone attack on one of its nuclear power plants. What's the UAE saying now.
So this was a drone attack on Sunday on the UAE's only nuclear power plant. It's the biggest in the Middle East. It's called Baraka and it's it's close to the border with Saudi Arabia. One drone got through the air defenses and hit a power station for the nuclear plant, and that forced the engineers to turn on a agency generators to keep the plant going. So it was a serious attack for sure, we think the first one on
that facility certainly since the war began. And the UA is saying this is you know, essentially outrageous and a huge threat to two countries around the region, and it's calling on the world to take more notice of this.
It's saying the drone the drones came from Iraq. Now that's also a pretty interesting and potentially alarming development because it seems as if Iran's Iran supported militias in Iraq are playing an increasingly important role in this war and are you know, being used to carry out attacks on Arab states.
This is Bloomberg Daybreak, your morning podcast and the stories making news from Wall Street to Washington and beyond.
Look for us on your podcast feed by six am Eastern each morning, on Apple, Spotify, or manywhere else you listen.
You can all so listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg in ninety nine to one in Washington, Bloomberg ninety two nine in Boston and nationwide on serious XM Channel one twenty one.
Plus listen coast to coast on the Bloomberg Business app now with Apple CarPlay and Android auto interfaces.
And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now and your favorite podcast platform to stay informed all day long. I'm Karen Moscow.
And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Day Bray