Iran Seizes Tanker in Persian Gulf

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Here the extraordinary secrets of how to thrive in disrupted world the old rules of management are not ready correct anymore so what works making a wise proven pivoted the future with will I am and Omar Abba subscribe wherever you get your podcasts Iran said Thursday that it had seized a foreign tanker in the Persian Gulf accusing it of smuggling fuel the incident heightened tensions but differs from previous incidents in the region involving oil tankers worse this one is different for smuggling tiny vessel that was in Iranian the waters and has no backstory of large good exports in fact he was clearly products so it's fully being magnified because of context president trump said hours later that a U._S.. Navy ship had shot down and Iranian drone in the State of Hormuz saying the drone was threatening safety of the ship and the ship's crew. This is what's news from the Wall Street Journal. I'm Anne Murray refer totally in New York before we get to rising tensions with Iran here or some other top stories. We're following president. Trump says he disagreed with chance by his supporters at a political rally in North Carolina on Wednesday night. The crowd chanted send her back referring to Minnesota Representative Ilhan Omar who was born in Somalia and immigrated to the U._S.. As a child. Omar is one of four democratic congresswoman. The president attacked on twitter saying they should go back to unspecified had countries the other three congresswoman were born in the United States. The House passed a resolution earlier this week condemning trump's tweets as racist Morgan Stanley reported a ten percent drop in quarterly profit on Thursday due to weakness and trading in an investment banking Goldman Sachs and Morgan Stanley were the only two big U._S.. Banks to report lower quarterly profits compared to a year ago while J. P. Morgan Chase City Group Wells Fargo and Bank of America saw boost from their consumer businesses. A federal judge has denied Jeffrey Epstein bail meaning. He'll remain in jail until his trial on sex trafficking charges Epstein had requested to be placed under house. Arrest prosecutors say he conducted a year's long scheme to procure an exploit exploit dozens of girls Epstein has pleaded not guilty anheuser-busch inbev which recently canceled plans for an initial public offering of its Asian unit is now considering selling some of its assets the Wall Street Journal reports that the company which. Bruce Budweiser is considering selling off its units in South Korea Australia and Central America. The company is reportedly looking to cut. It's one hundred billion dollar debt load and raise ten billion dollars from asset sales. That's the amount it had aim to raise in the I._P._O.. I._P._O.. Of Its Asian unit capital one knows life doesn't alert you about your credit card. That's why they've created. E-e-e-e-no the capital one assistant that catches things things that might look wrong with your credit card. He no catches over tipping duplicate charges or potential fraud and then sends an alert sheer phone and helps you fix it. It's another way capital. One is watching after your money when we're not capital one. What's in your doc wallet Dot Com for details? Iran says it has seized a foreign tanker in the Persian Gulf claiming it was smuggling one million leaders of fuel. The incident is again stoking tensions between Iran and the West joining me now via skype from London is Wall Street Journal reporter Ben Wafa Cohn. This is one of several incidents in recent memory involving oil tankers and Iran. What can you tell us about what we know so far car when he will look like an outlier competitive with the other vessel that were involved in accidents? I mean if you think about incidents you know the previous must-listen examples British Petroleum B._p.. Tanker NCUA arriving from Iraq and was leaving for export for the straight of owners and allegedly was brock's by Jesse Navy so we don't have to be exposed. You know a big business very international mainstream. The previous tankers that that where attacks basically wear similar nature Japanese navision you know big operations big exports media <unk> potential disruptions of logic force to to Asia Europe. This one is different. It's a smuggling tiny any vessel that was Iranian waters and has no backstory of of large could exports in fact he was clearly products and he was in Iranian woods so it's fully being magnified because of the context but might be more erosion police operation and this latest incident comes as European nations are separately trying to hold together the twenty fifteen nuclear pact with Iran also amid heightened tensions between Iran and the United States. You mentioned that tensions have been ratcheting up recently. How does this latest incident fit in with that in a way? It doesn't quite fit because what happens what he does. Reflect is really the tensions and how the all market but Bali in the international community has become extremely sensitive over about any incidents taking place in these key or waters so but in this case it seems it was basically the Iranian navy rice resting testing a small vessel it suspected of of carrying smuggling I mean it's unlike others in the case in the sense that he does a lot of transshipments. This vessel goes dot very often. It has supplied vessels that I go into Somalia and Yemen men off the mainstream of international or shipping in some way but again because of the context it becomes the big story. How has the West been responding? What are you hearing from? European leaders was so far. We've he'd U._S.. U._S. officials saying well. It looks like it's not quite it's unlikely to be just a rescue operation because we had Casey's vissel that U._S.. Said where attacked and subsequently where the Iran reversionary gots to off the demands that were on these vessels appear to have according to use sort of our contradictory. I teach it so here. They basically say everything that he's known in these orders obviously suspicious but at the same time and the U._S. does confirm that he was seized. I at the same time it's not it's moved markets and created more concerns but I don't think it's kind of the sort of a referee co escalation that we saw you know after the incident in May and June where they were attacks as you know on tankers that were allegedly carried by by Iran. I think this is nor as strong internal reaction as we've seen in rice in part you did mention another aspect that I wanted to ask you about. We do see in commonality with these incidents volatility and oil prices exactly so every incident now is moving. Prices May actually fall back on other fundamentals like you know <hes> U._S.. Batteries for instance saw Chinese demand but the much more or markets. It's a much more volatile than let's say they would have been your ago. That's one element and the concerns you know remain extremely high to the point that obviously the U._S. is looking to end up specific naval force. US that would be addressing the Rod Fritz. It's not like the one we have today that is broadly about you know Persian Gulf security or anti-piracy Dowana specifically directed to use and as you know there's going to be meeting very soon where the U._S. will ask for supports awards military support from countries that Japan for instance as well as financial support from countries that Saudi Arabia so this episode today fits into that broader concerned that the U._S. wants to address his International Community Wall Street Journal reporter Benoit Phone joining us via skype from London. Thank you so much Ben. Wa thank you and later on Thursday. President Trump said U._S.. Navy ship had shot down in Iranian drone in the state of her moos saying the drone was threatening safety fifty of the ship and the ship's crew for the latest developments on the story. Please head to our website wsj.com or the W._S._J.. APP The European Union has find qualcomm two hundred forty two million euros for about two hundred seventy two million dollars saying it hindered competition the Wall Street Journal's Lawrence Norman explains so what the European Union in authorities are saying this is contested by qualcomm. You're going to <hes> appeal. The decision to the codes is the U._S.. Company engaged in what they could predatory pricing the ES said was this predatory pricing. I'm involved setting price for chips. He fell to go into cell fines below because to producing them and they did this over shortish period of time but the said it was deliberately designed to kill off of competition from quicken pants to which was a British called Faira which is now in the hands of the company. It's the second time European regulators have find qualcomm and it comes just a day after antitrust authorities took Action Ryan against another U._S.. Tech giant only yesterday the E._U.. Depend a probe into Amazon. I've <hes> some of its behavior. The US competition chief Maga VESTA has in provided is a huge cases which which are under the heat finds of Google. She's targeted facebook and apple in in other decisions. She's under suffer. Reputation in the White House is being anti into U._S.. Something she totally denies but President Trump cools miss fest to get the ease tax lady and says that how decision show that she hates the United States so these decisions which uses a purely technical.

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