News when you want it with Bloomberg News now, I'm Nathan Hager.

And I'm Karen Moscow. Karen, the cease fire between the U.S.

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

Tehran. He's not ready to just agree to any deal

and he's not willing right now to give additional breathing room other than

saying that the cease fire expires on Wednesday night, Washington time, which

is actually a day later than most people assumed.

Bloomberg's Jeff Mason reports. Vice President J.D.

Vance is still expected to head to Islamabad later today to lead the second

round of talks either tonight or tomorrow.

But Bloomberg's Jomana BERSET, she 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, various

comments coming through from officials and Iranian leading negotiators,

including the speaker of the parliament, Mohammad Ghalibaf himself, who said

Trump seeks to turn a 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 Gianni Versace reports from Dubai that Iranian officials have not

explicitly ruled out taking part in talks.

But Iran's state run 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 Ternus in September. Cook will shift to the role of executive

chairman, and Ternus has been the head of hardware engineering since 2021.

Mark Gurman covers Apple for Bloomberg. Clearly, Ternus has been the guy for a

while now. Obviously, he oversaw the MacBook Neo

announcement at the beginning of March. They have been preparing him for this

role for several months. Tim Cook asked him to take on

responsibility over Apple's software and hardware design teams at the end of last

year. If you look at Apple's executive team,

Ternus 50 years old, he 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 in turn is

prepared for that. And Bloomberg's Mark Gurman says the

announcement comes just weeks after the company's 50th anniversary celebration.

And shares of Apple, they're down 6/10 of a percent this morning.

Here in another tech giant, Amazon is doubling down on artificial

intelligence. The company is investing an additional

$5 billion in anthropic 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 clod chat bot and

coding tool. It plans to spend more than $100 billion

over the next ten years on Amazon's cloud technologies and ships and

checking shares of Amazon in the pre-market.

They are higher by almost 3%. Nathan Amazon founder Jeff Bezos is

close to finalizing a $10 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, codenamed Project Prometheus at $38 billion paper says Jp

morgan and BlackRock are among the investors in the new round.

So more tech news this morning. The information is reporting that Elon

Musk increased his stake in SpaceX last year by buying $1.4 billion of stock

from current and former employees. The report says a confidential IPO

prospectus also reveals a plan to award Musk tens of millions of shares if Space

X'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 Warsh is hearing before the Senate Banking Committee takes place in

Washington later today. And Bloomberg's Michael McKee 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 Walsh think he's working for?

How strong will Warsh be in defending Fed independence under a president who

thinks he should be dictating monetary policy?

So if Warsh 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, Warsh 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 McKee Bloomberg Radio.

All right, Michael, thank you. And stay with Bloomberg for a live

coverage of Kevin Walsh's confirmation hearing.

It gets underway at 10 a.m. a Wall Street time, and that's news a

when you want it. With the Bloomberg News now, I'm Karen

Moscow. I'm Nathan Hager and this is Bloomberg.