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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get
made.
And I'm Caroline Hepgett in London, with the hosts of the Blue Bag Daybreak Europe podcast.
We're up early every week day, keeping an eye on what's happening across Europe and
around the world.
We do it early, so the news is fresh, not recycled, and so you know what actually matters as the
day gets going.
From Brussels, I'm following the politics, policy and the people, shaping the European
Union right now.
And from London, I'm looking at what all that means for markets, money and the wider economy.
We've got reporters across Europe and around the globe feeding in as stories break.
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
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News when you want it with Bloomberg News Now, I'm Doug prisoner.
There was a dramatic recovery in the stock market today on the final day of the first quarter.
The rally was driven by speculation that both the U.S. and Iran may be looking for a way
out of the war.
Then after the bell president Trump said he sees the U.S. ending the war in Iran within
two to three weeks.
Trump also called on other nations to seize control of the Strait of Hormuz.
What happens with the Strait, we're not going to have anything to do with because these
countries, China, China will go up and they'll fuel up their beautiful ships and they'll
leave and they'll take care of themselves.
There's no reason for us to do it.
We hit them hard.
We got rid of a lot of the radicalized lunatics along the Strait.
But if they want something, but I would say that within two weeks, maybe, two weeks,
maybe three.
Trump also indicated it was possible that Iran could still reach a deal with the U.S.
during that time frame.
And he said an agreement with Tehran was not necessary for the war to end.
The United Arab Emirates is reportedly preparing to help the U.S. and other allies open the
Strait of Hormuz by force.
The Wall Street Journal reports the UAE is lobbying for a UN Security Council resolution
to authorize such action.
The UAE is also reviewing how it could play a military role in securing the Strait.
Earlier today, Iranian State media reported President Masood Purgeskin saying the Islamic
Republic has the necessary will to end the war, however, only with guarantees to prevent
the recurrence of aggression.
On Wall Street, the S&P 500 climbed nearly 3% today in the Nasdaq composite added 3.8%.
Here is Lauren Sanfilippo of B of A, Private Bank.
We're watching the damage and duration of what's going on in the Middle East, right?
And that's what matters.
How much longer, which we don't really have a clear signal on that, and what damage to
the energy infrastructure?
Because that will dictate what this recovery will look like on the other side.
That is Lauren Sanfilippo of Bank of America, Private Bank.
An American journalist was kidnapped on Tuesday in Baghdad and Iraqi security forces are
pursuing her captors.
The freelance journalist was identified by one of the outlets she worked for as Shelley
Kiddelsen, a U.S. official blame the Iran-backed Iraqi militia group Kataib Hezbollah.
In the States, a federal judge has moved to Halt, President Trump's efforts to build
a new ballroom at the White House until he gets approval from Congress.
The judge held that the president likely exceeded his legal authority by overseeing construction
of the ballroom.
Even so, the judge did pause the effect of his order for 14 days, given logistical issues
with halting construction.
Now the cost of the ballroom could be as much as $400 million using privately raised funds.
The U.S. Supreme Court has struck down a ban on conversion therapy, the court ruled in
favor of a Christian counselor who says she has a constitutional right to engage in talk
therapy to try to change a child's sexual orientation or gender identity.
The court said Colorado's ban on conversion therapy for minors infringes on free speech
rights by discriminating on the basis of viewpoint.
The case was brought by counselor Kayleigh Child, she called the decision a win for free
speech.
I'm grateful that my speech is protected, but I'm even more excited that families and
children seeking access to counseling that respects biological reality will be able
to get the help that they need.
Now this ruling is expected to eventually make similar laws in other states unenforceable.
In business news, OpenAI raised $122 billion in its latest funding round, and the financing
will help the company with its costly push for more computer chips, data centers, and
talent.
OpenAI now has a valuation of $852 billion.
Here is Bloomberg Sharin Gaffrey.
Now I think the thinking behind this round of particularizer CFO, Sarah Fryer, said
on a press call this morning was that this round in general gives them some flexibility.
So of course, you know, all these companies, as we reported, are looking toward an IPO,
but also if they're able to raise this amount of large cash and get some exposure to retail
investors in the meantime, that also gives them the option to wait if they want to for
that IPO.
That is Bloomberg Sharin Gaffrey.
After the Bell Nike reported better than expected sales, earnings per share also surpassed
expectations.
However, sales in China continued to decline, dropping by 7%.
We got reaction from Poonam Goyal, senior retail analyst at Bloomberg Intelligence.
If you looked at the numbers closely, you know, it's down a lot to this quarter.
So there's added pressure for Nike as we move into the near term, the fiscal fourth quarter
and even into their early fiscal 2027, which I think has caused some skepticism on whether
the turnaround will take now even longer.
That is Poonam Goyal from Bloomberg Intelligence.
Shares in Nike were down by 3.7% in late U.S. trading.
And that is news when you want it with Bloomberg News Now.
I'm Doug Krisner and this is Bloomberg.
Hello, I'm Michelle Hussein.
And for more than 20 years, I was at the BBC, but all the time I was delivering the headlines,
I wanted to go further than the news of the day to spend more time with the people shaping
our world.
And that's what I'm doing here on this podcast.
Speaking to people from Nigel Farage, to tech journalist Kara Swisher, to tech industry
as running wild, you know, they've gotten what they wanted and they've seen a huge run
up in their stock prices.
This will be a place where every weekend you can count on one essential conversation to
help make sense of the world.
So please join me, listen and subscribe to the Michelle Hussein show from Bloomberg Weekend.
Wherever you get your podcasts.
Let me ask interesting questions.
The news doesn't stop on the weekends.
Context changes constantly and now Bloomberg is the place to stay on top of it all.
Hi, I'm David Gurra.
Join us every Saturday and Sunday for the new Bloomberg this weekend.
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We'll bring you the latest headlines in-depth analysis and big interviews, all the stories
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And I'm Lisa Mateo, watch and listen to Bloomberg this weekend for thoughtful enlightening
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On Saturday mornings, we put the past week's events into context, examining what happened
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