Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Donald Trump expressed frustration with Iran and told it the “clock is ticking,” hours after drones targeted a nuclear power plant in the United Arab Emirates.Tehran “better get moving, FAST, or there won’t be anything left of them,” Trump said on Truth Social on Sunday. These were his most belligerent comments regarding the Iran war, which remains in a fragile ceasefire, since he returned to the US from China on Friday.
2) Aaron Rai was just another name among a dozen others who had reason to believe the PGA Championship was theirs for the taking Sunday at tough Aronimink.There was Rory McIlroy, Jon Rahm and Xander Schauffele, with 10 majors among them, all ready to seize the moment on a stage that was unfamiliar to Rai.Justin Thomas was the clubhouse leader for nearly four hours after a 65 before the course turned hard under a hot sun.
3) Long Island commuters are poised to battle congested roads and packed buses as a workers’ strike threatens to disrupt travel in and out of New York City unless negotiators can strike a deal.Monday would be the first weekday since the Long Island Rail Road, the nation’s busiest commuter railroad, stopped service on Saturday after roughly 3,500 engineers, signalmen and electrical workers walked off the job following a stalemate between the state-run Metropolitan Transportation Authority and union leaders on a labor deal.
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Bloomberg Daybreak Weekend with Host John Tucker take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to earnings from Nvidia and a focus on three stocks for the week ahead.
In the UK – a look ahead to earnings from Europe’s largest low-cost airlines.
In Asia – a look ahead to Japan GDP data.

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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said the US and China share common goals for ending the Iran war, including that the Islamic Republic shouldn’t possess a nuclear weapon and that the Strait of Hormuz should reopen. The US administration wants China’s help pressuring Tehran into negotiations to end the conflict, but Beijing has remained cautious, urging further diplomacy and saying disputes over Tehran’s nuclear program should be resolved through dialog. Xi Jinping hailed the results of his meetings with US President Donald Trump and touted an agreement on a new relationship for their countries. The two countries reached an "important consensus" on maintaining stable economic and trade relations while expanding cooperation in various fields.
2) Federal Reserve Governor Stephen Miran said he will resign from the central bank effective once incoming Chair Kevin Warsh is sworn into office, or shortly before. The move by Miran was expected given his seat on the Fed’s Board of Governors will be taken by Warsh. The Senate on Wednesday narrowly confirmed Kevin Warsh as chair of the Fed, clearing the way for his swearing soon after outgoing Chair Jerome Powell’s term ends on Friday.
3) Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. OpenAI lawyers are working on a range of options, including sending Apple a notice alleging breach of contract, as the company feels Apple's use of OpenAI technology remains limited and features can be hard to find.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Chinese President Xi Jinping warned President Trump of a potential conflict if the Taiwan issue is mismanaged, saying it is the most important issue in China-US relations. Xi said that if the Taiwan issue is mishandled, the two nations will experience collision or even clashes, pushing the entire China-US relationship into a highly dangerous situation. The US and China discussed various issues, including expanding market access for US businesses, purchasing US energy and agriculture, and addressing the flow of fentanyl precursors, but the Taiwan issue remains a point of tension.
2) The Senate confirmed Kevin Warsh as chair of the Federal Reserve with a 54-45 vote, the slimmest confirmation margin ever for a head of the central bank. The confirmation sets up a test of the Fed's political independence, with Democrats fearing Warsh will bend to President Donald Trump's demands to rapidly lower interest rates. Warsh vowed to maintain the Fed's tradition of making interest-rate decisions free from political pressure, but Trump has made it clear he expects Warsh to lower borrowing costs immediately.
3) Cisco gained in late trading after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs to focus on the fast-growing AI market. The company said revenue will be $16.7 billion to $16.9 billion in the fiscal fourth quarter, and its restructuring plan is designed to further improve its position in the AI economy. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump repeated his military threats against Iran ahead of a visit to China, saying Iran will either “make a good deal” with the US or face devastation. A ceasefire between the US and Iran has lasted over a month but is fragile, with Trump describing it as being on “massive life support” and Tehran continuing to resist US demands. The President is expecting economic deals and a welcome in China, where he will discuss trade, tariffs, and Taiwan with Xi Jinping. The US has targeted Chinese oil refiners and firms providing satellite imagery to Iran, as Trump ramps up his campaign to pressure Tehran into a deal.
2) Oil shipments from Iran's main export terminal appear to have come to a standstill over the past several days, according to satellite images. If Kharg Island were to remain idle, it would increase the pressure on the country's remaining storage facilities, which satellite images show are filling up. The terminal hasn't been shown empty for more than a single day since the start of the war, with satellite images of the Kharg Island jetties on 33 out of the 73 days since the US and Israel launched their attacks.
3) Anthropic is in early talks with investors to raise at least $30 billion in fresh financing at a valuation of more than $900 billion. The round is expected to close as soon as the end of this month, but the deal is not finalized and no term sheet has been signed. Anthropic needs to make deals to pay for enough computing infrastructure to meet growing demand for its products, amid the breakout success of its AI software.
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