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, the ceasefire between the US and

Iran is set to run out tomorrow night

and President Trump is signaling he is

not willing to extend it if the two

sides can't reach a deal to end their

war. President Trump spoke to Bloomberg

White House correspondent Jeff Mason.

ahead of a second round of negotiations

with Thrron.

>> He's not ready to just agree to any

deal. Uh and he's not willing right now

to give additional breathing room other

than saying that the ceasefire expires

on Wednesday night Washington time,

which is actually a day later than most

people assumed. Bloomberg's Jeff Mason

reports Vice President JD Vance is still

expected to head to Islam Abad later

today to lead the second round of talks

either tonight or tomorrow. But

Bloomberg's Jamaa Bureti reports it's

not clear who Vance's team will be

talking to.

>> We still don't know who exactly from the

Iranian side is going to be

participating, if indeed they will be

participating at all. There have been

numerous posts uh various comments

coming through from uh officials and uh

Iranian uh leading negotiators including

the speaker of the parliament Muhammad

Galibah himself who said Trump seeks to

turn negotiating table into surrender.

We do not accept negotiations under the

shadow of threats and have prepared new

cards for the battlefield. This is

echoed also by Iran's ambassador to

Pakistan saying that they will not

negotiate under threat. Bloomberg's

Janna Berseti reports from Dubai that

Iranian officials have not explicitly

ruled out taking part in talks, but Iran

staterun television is denying

unspecified media reports that a

delegation has departed for or arrived

in Pakistan for the negotiations.

>> Well, Nathan, another developing story

that we're following involves a changing

of leadership at one of the world's

biggest companies. After 15 years as CEO

of Apple, longtime leader Tim Cook is

being replaced by John Turnis in

September. Cook will shift to the role

of executive chairman and Turnis has

been the head of hardware engineering

since 2021. Mark German covers Apple for

Bloomberg.

>> Clearly Turnis has been the guy for a

while now. Obviously, he oversaw the

MacBook Neo announcement uh at the

beginning of March. They have been

preparing him for this role for several

months. Uh Tim Cook asked him to take on

responsibility over Apple's software and

hardware design teams uh at the end of

last year. Uh if you look at Apple's

executive team, Turnis 50 years old, 15

years younger than Tim, the youngest

member of the executive team by far. So

they really had no other options. At the

same time, Apple has been looking for a

product focused leader. Uh internist is

prepared for that.

>> And Bloomer's Mark German says the

announcement comes just weeks after the

company's 50th anniversary celebration

and shares of Apple, they're down 610 of

a percent this morning.

>> Well, Karen, another tech giant, Amazon,

is doubling down on artificial

intelligence. The company's investing an

additional $5 billion in Enthropic and

may inject 20 billion more over time.

Amazon was already one of Anthropic's

biggest backers with prior investments

totaling $8 billion. Anthropic makes the

Claude chatbot encoding tool. It plans

to spend more than hundred billion

dollars over the next 10 years on

Amazon's cloud technologies and chips.

And checking shares of Amazon in the

pre-market, they are higher by almost

3%. Nathan, Amazon founder Jeff Bezos is

close to finalizing a10 billion funding

round for his AI startup that's

developing models with the capability of

understanding the physical world. The

Financial Times reports the fresh

funding values the company co-enamed

Project Prometheus at $ 38 billion.

Paper says JP Morgan and Black Rockck

are among the investors in the new

round.

>> Some more tech news this morning. The

information is reporting that Elon Musk

increased his stake in SpaceX last year

by buying 1.4 4 billion of stock from

current and former employees. The report

says a confidential IPO perspectus also

reveals a plan to award Musk tens of

millions of shares if SpaceX's market

cap increases by trillions of dollars.

>> Nathan, let's turn to the economy.

Donald Trump's pick to be the next

leader of the Federal Reserve may get a

grilling. Kevin Worsh's hearing before

the Senate Banking Committee takes place

in Washington later today. And

Bloomberg's Michael McKe has a preview.

The president's Fed nominee has made it

clear he wants to make big changes at

the central bank. Today's hearing is his

chance to explain how big and how fast

he hopes to move. The most important

question, who does Kevin Worsh think

he's working for? How strong will Wars

be in defending Fed independence under a

president who thinks he should be

dictating monetary policy? So, if Worsh

thinks the Fed should be cutting

interest rates, when does he think that

should happen and by how much? Does it

make sense? While inflation is rising,

Worsh also wants a smaller balance

sheet. How does he get there? Does the

Fed sell its mortgage bond holdings. He

also wants to reform Fed communications,

bank regulation, and even the way the

central bank conducts policy operations.

A lot to talk about. Michael McKe,

Bloomberg Radio.

>> All right, Michael, thank you. And stay

with Bloomberg for live coverage of

Kevin Worsh's confirmation hearing. It

gets underway at 10 a.m. Wall Street

time. And Karen Wells Fargo CEO Charlie

Sharf says allowing the Fed to operate

without political interference is a

vital part of the financial system.

Sharf spoke with Bloomberg's David

Rubenstein at the Economic Club of

Washington.

>> The independence of the Fed is

critically important. Uh not just here

in the US, but in other parts of the

country. And I mean, and when you think

about just the way our our governing

system works, um, you know, it's

different than a place like China where

there's long-term management, long-term

goals, uh, high coordination across all

the different areas of government. You

know, here we have, you know, a

political infrastructure that turns

over, um, which has points of views. And

you can watch more of David Rubenstein's

interview with Wells Fargo CEO Charlie

Sharf on the David Rubenstein Show,

Peer-to-Peer Conversations, April 29th

at 900 p.m. Eastern on Bloomberg

Television.

>> In political news, Nathan, Virginia

voters are heading to the polls in a

statewide special election. And while

there are no candidates on the ballot,

the contest could help decide control of

the House of Representatives this fall.

Bloomberg's Amy Morris explains from

Washington. The question on the ballot

will amend Virginia's Constitution,

giving the Democratic Majority General

Assembly temporary power to redraw

congressional districts until October

2030. After that, the authority reverts

to the state's nonpartisan redistricting

commission. If the plan passed by the

legislature in February is enacted,

Democrats could gain the upper hand in

10 Virginia districts. The new

boundaries would also be in place in

time for this November's midterm

congressional elections. in Washington.

Amy Morris, Bloomberg Radio.

>> All right, Amy, thank you. And speaking

of the midterms, President Trump and

Republicans have a amassed a billion

dollar cash pile in their bid to hold on

to Congress. Campaign finance

disclosures show the president's super

PAC, MAGA, Inc., raised $35.6 million

last month. Longtime GOP donor Diane

Hendricks, donated most of that total,

25 million. So far, MAGA Inc. has not

spent much of its stockpile. It injected

$1.7 million into a special Tennessee

House race last year and spent just

$17,900

this year on Klay Fuller's bid for

Marjorie Taylor Green's vacant seat in

Georgia.

>> 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 Bar.

Michael, good morning.

>> Good morning, Karen. Let's hope you

didn't put your winter coat away. It is

a chilly spring morning. Bloomberg

meteorologist Craig Allen has more.

>> Quite a chill out there this morning.

Just think it was only a week ago that

the thermometer was soaring through the

80s to record highs around 90. This

morning it is 40 to 60° colder. Up and

down 95 from Virginia to New England and

west into the Ohio Valley. Alerts for

late season frost or freeze will

continue through this morning. A freeze

warning is in effect for about a dozen

states. It includes DC, Baltimore,

Philly, all the way up through New York

City. Fortunately though, I can say that

this cold air mass will begin to modify

starting this afternoon and lasting

through the rest of the week. Bloomberg

meteorologist Craig Allen. We're

learning of a close call at Nashville

International Airport last weekend. The

incident involved two Southwest Airlines

flights late Saturday afternoon after

air traffic control caused confusion.

Southwest Flight 507 was preparing to

land just as Southwest Flight 1152 was

taking off. While on approach, Flight

507 executed a precautionary goaround

because of the gusty winds. And that's

when the other Southwest flight bound

for Knoxville was gaining altitude and

now in the path of the other jet.

Anti-colision alarms were going off in

both cockpits as the planes were moments

away from a catastrophic mid-air

collision. Louisiana First Lady Sharon

Landre's Foundation is paying the

funeral expenses of the eight children

fatally shot over the weekend.

Shreveport police say the suspect was

the father of seven of the children. Two

women were also shot and wounded.

Louisiana Governor Jeff Landry says that

he and the first lady understand that

money does not heal. What we can lean on

is that this act of charity can stand as

a beacon of faith and belief that good

things still happen in this world.

>> Authorities said the suspect was fatally

shot by police after a chase. Global

news 24 hours a day and whenever you

want it with Bloomberg News Now. I'm

Michael Bar and this is Bloomberg.

Karen,

>> thanks Michael. Time now for our

Bloomberg sports update and for that we

bring in John Stashour.

>> Thanks Karen. A trio of NBA playoff game

twos. Cleveland beat Toronto for a two

nothing series lead. Atlanta came from

14 down to beat the Knicks in New York.

That series is tied to one. So are

Minnesota and Denver. The Timberwolves

beat the Nuggets. Double overtime in the

Stanley Cup playoffs. Carolina topped

Ottawa a two nothing lead in the series

for the Hurricanes. Philadelphia shut

out Pittsburgh. The Flyers go up two

zip. Dallas beat Minnesota that series

tied at one. And Edmonton won game one

from Anaheim. That's your Bloomberg

sports update.

>> Stay with us. More from Bloomberg

Daybreak coming up after this.

>> Coast to coast on Bloomberg radio,

nationwide on SiriusXM and around the

world on Bloomberg.com and the Bloomberg

Business app. This is Bloomberg

Daybreak.

>> Good morning. I'm Nathan Hager. With the

clock ticking on a ceasefire between the

US and Iran, President Donald Trump is

suggesting he is not likely to extend it

if he does not get a deal to end the war

this week. White House press secretary

Caroline Levit says Tyrron should take

the president at his word.

>> President Trump has proven before he

does not bluff. When he makes a promise,

he follows through on it.

>> That was White House spokesman Caroline

Levit speaking on Fox News. Joining us

from Dubai this morning is Bloomberg

Middle East correspondent Jamanna

Bureti, the anchor of Bloomberg

Horizons. Jamanna, good morning. Where

do things stand now? What is the

possibility that we will indeed see

talks this week?

>> Yeah, well, I will tell you that

Islamabad have made plenty of

preparations in anticipation of these

talks. I'm hearing of thousands of

security officials that have been

deployed. Uh the parts of the of the

city are in lockdown. So, there's really

a lot of excitement or anticipation at

least coming through from Pakistan that

the talks are going to happen. And we

understand that the US are still

planning on setting their delegation

though JD Vance has not departed yet.

And so you've got to consider at this

point in time, you know, given where we

are in the day that if the talks do go

ahead, they probably won't happen until

tomorrow. Uh which is perhaps one of the

reasons why President Trump told our

correspondent uh Jeff Mason overnight

that he was pushing back the ceasefire

timeline by one day to the end of

Wednesday. It was supposed to expire

today. Now, all of that is fine, but we

have not yet heard official commentary

from the Iranian delegation. We don't

actually know who is heading there from

Iran and whether it's going to be as big

a delegation as we got for the first

round of Islamabad talks. And certainly,

a lot of the language that has come

through from Iran overnight suggests

that they are unhappy with the status

quo and the fact that the US have

implemented their naval blockade. um

with many of the key voices there

including the speaker of the parliament

Muhammad Galibbah saying um we do not

accept negotiations under the shadow of

threats. So we'll see whether actually

this resonates with Trump and whether

you know at some point he may need to

make a decision whether to lift that

naval blockade in the interest of

pushing forward the discussions or

calling their bluff and seeing whether

they show up anyway. Do we have a sense,

Jumanna, of which side might be winning

out in Iran right now? We've heard from

the president saying that the people

that the US is talking to on the Iranian

side are much more reasonable than the

than the prior regime. He's talked about

regime change. Where where do things

stand as far as who's winning out

potentially in Iran uh in these

potential discussions? Yeah. So, you

rais a valid point because I think

there's been a lot of media reporting

the last couple of days and even uh from

some of the state media as well has sort

of um they had to come forward today uh

reiterating that there's max cohesion

amongst the leadership in Iran. And the

reason that they said that is because

there have been a lot of reports

suggesting a split internally between

the more pragmatic voices and those

voices were represented by the Iranian

delegation that uh were participating in

the first round of talks including the

speaker of the parliament that I spoke

about the president himself Mr. Pesh

Khan, even the Iranian foreign minister

Abbas are actually seem to be of the uh

of the sort that want to make a deal are

inclined to continue with the

negotiations with the US because they

perceive the economic cost to be too

high if the war continues. Now on the

other hand, you've got the hardliners,

the more conservative group, you've got

the IRGC, you've got the commanders in

the army who um feel that they have the

ability to drag this war longer and

inflict more cost not just on Gulf

nations but also on the global economy

the longer it uh drags out. Uh and

remember for them the key here is

survival. It was about it was always

about an existential question of can

they get to the other side of this still

intact and they feel at least that they

still have the ability to continue uh

even once this war is is resolved. And

so right now it's sort of a standoff

between, you know, the the hardliners in

Iran that don't that have a much longer

time frame than the more pragmatic side

of the equation, the leadership

leadership there, and of course,

President Trump himself who's operating

on a much shorter time frame and appears

to be impatient um and and and wanting

to get a deal across the line ASAP.

This is Bloomberg Daybreak, your morning

podcast on the stories making news from

Wall Street to Washington and beyond.

>> Look for us on your podcast feed by 6:00

a.m. Eastern each morning on Apple,

Spotify, or anywhere else you listen.

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Now on 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 Daybreak.