35 Burst results for "Prince Mohammed Bin Salman"
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"The treasury says the plan will repeal hundreds of pages of EU regulations. Chancellor Jeremy hunt says the change will deliver an agile proportionate and homegrown regulatory regime. And in the Middle East, China and Saudi Arabia have agreed to hold regular summits between their leaders, solidifying ties between the world's number two economy and its top supply of oil in a meeting in Riyadh, Chinese president Xi Jinping and crown prince Mohammed bin Salman agreed to upgrade their relationship and committed to a raft of energy and investment packs. The moves show a willingness to strengthen relations just as both countries ties with the America cool. And who would not want to be a year younger? Well, in South Korea, lawmakers are approving a measure that would revise the way the country counts a person's age. The move means all South Korean citizens would become one or even two years younger from next June. Under the current Korean age system, newborns are counted as one year old, the systems cause confusion at home and abroad, especially in legal matters. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries, I'm James Wilcox, this is Bloomberg. I guess it'd be beats moisturizing Caroline. In compliments to moisturizing, please, James. Yeah, lovely. Very nice story. Also, I did not realize, though, that this Korean age system means that you become a year older on New Year's Day, so it's not sort of western SAAR birthday that people celebrate probably. Maybe you get too presence though. That would be good
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Right, exactly, man is there's a lot of wiggle room in there. He did not say when that would be. And of course, if you want to review things and get everything together, who knows it could be months. But Maxine waters had asked for that December 13th date. It doesn't look like that will happen, but we will see. And Congress is now officially interested in what he's been doing, what this means for FTX. And of course, just thinking about second order implications, if he's testifying before Congress, what is Congress going to do beyond that in terms of the crypto industry? Will it mean more regulation? What will it mean for them? Yeah, one thing's for sure is he hasn't shied away from the camera. It's giving interview after interview. What about Bill ackman because he's come under a lot of criticism over the weekend to clarify comments that he made about SBA? Yeah, exactly. So he was saying he finds Sam bankman fried believable. But then he said, well, wait, that doesn't mean that I support him. I just think that he is believable in what he's saying and that might mean say that he is that he could be subject to civil rather than criminal liability. For instance. But yeah, ackman didn't really mince words. He said, you know, it's an egregious, large scale case of business negligence at a minimum. So he's definitely criticizing too. He's just finds Sam bankman fried believable. Do I know? Another day, another crypto event. Thank you for the overview, that's when Austin's are there. Let's get to the first word headlines from around the world and some old fox men as those from Doha. The U.S. defense secretary Lloyd Austin says America is building a more lethal force posture in the indo Pacific as part of efforts to make sure China doesn't dominate the region. Austin says China is the only country with both the will and the power to reshape the region. He also added that the U.S. would sharpen its warfighting advantages and bolster its force presence. Our key goes founder Bill Wang is asked a judge to toss out fraud charges against him. He alleges that prosecutors engaged in what he calls deceitful conduct in the early days of the investigation. Wang says he was duped into assisting investigators who gave him false hope that he wouldn't be charged. He is scheduled to go on trial in October 2023 over the collapse of our key goes. The Wall Street Journal is reporting that Saudi Arabia's crown prince is preparing to invest in Credit Suisse groups, investment bank. According to the report, prince Mohammed bin Salman may invest around $500 million in the lenders CS first Boston spin out. Other investors could include former broccoli's chief executive bob diamonds, Atlas
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Study babies economy grew at the fastest pace since 2011 last quarter with a higher oil prices driving up the activity. Simone foxman is in Doha looking across the numbers. So it's not all or is it all purely correlated to oil prices? Come on, good morning. Yeah, good morning, menace will clearly oil prices driving a lot of this growth, but the non oil economy number still very strong. So let's compare them. We were looking at 23.1% year on year GDP bump from oil economy versus 5.4% from the non oil GDP. And this isn't really a surprise given the effect that Saudi Arabia was making somewhere to the tune of about a $1 billion a day from its oil exports. But if we drill into that non oil economy number a little bit, you know, it's still quite strong and I've stripped out when I'm looking back through the dad. I stripped out some of the 2021 data because there's some base effects from the COVID recovery. And this 5.4% number is still one of the strongest numbers we've seen since 2014. Think of other things going on as well. Lowest unemployment for Saudi citizens since 2008 are also looking at 22 straight months of expansion from a PMI basis. So this is probably a welcome number for Saudi crown prince Mohammed bin Salman, which has really been pushing forward this idea of non oil GDP, even if it is overshadowed by the number we're seeing from the oil side. And then in Iraq in the meantime, we have some new political unrest. What is the latest over the weekend? Yes, supporters of Muqtada Al Sadr. He's an influential Shiite cleric. They stormed parliament and are occupying parliament until they say fresh elections are called. Has been aligned essentially against some of the Iran backed parties. He won the most votes in the last election, but was unable to form a government and now he is calling for radical change to the political system. So things he wants in addition to new elections, the dissolution of parliament and changes to the constitution at minimum for the moment a controversial prime minister that was backed by those Iran backed parties isn't going to immediately become prime minister he was a candidate there, but the concern really as we hear calls from the other side for its supporters to go out into the street is that ultimately these mostly peaceful protests so far are going to turn into violence. And that is the risk, isn't it Simone? One thing which will certainly be focused on during the European session and by the way across the world is going to be the grain corridor from turkey. It says that that corridor could very crops from Ukraine today or tomorrow so that's going to be a big focus for the region, isn't it? Yeah, that's right. And just in the last couple of minutes, actually, we heard from the Turkish Defense Department who says that corn products have been loaded onto a ship in Odessa and that's meant to go to Lebanon today. So underscoring how important the crops from Ukraine are to this region. But Lebanon also in the crosshairs of some of these concerns about stolen goods. So Russian companies stealing Ukrainian crops and then selling them to Lebanon Lebanon is actually seized a ship over the past couple of days that it's concerned has actually pilfered those Ukrainian supplies. And so it's investigating the matter right now. But you know, it's worth remembering, even though we're looking at wheat prices a little bit down today, likely on this news of the green corridor, that folks buyers in this region are paying up for grain in prices that are not directly translating to what's happening in the futures market. Egypt's Egypt's finance minister saying they're paying double for every import of bushels of wheat. Simone. Yeah, those are some very impressive numbers somewhat foxman at the kind of financial center in Doha. I want to say with commodities go from soft commodities to some of the metals because you think about steel making, you think about the key ingredient being iron ore. A lot of volatility in this session with the surprise contraction in China in terms of factory activity. And now this rebound towards a $120 per ton. This is intraday on the Singapore contract. Basically a recovery in steel, mills, margins, offsetting the concerns that we got in terms of the eco story out of China. Keep an eye on dollar yen. I think what's interesting here is this is the fourth day in which you've seen a rally in the end, which tells you a little bit about dollar maybe some would say topping out because of Paul's comments last week, but it is day four of a rally. The hedges have cut their shorts back to a level that we haven't seen since 20 21. So a little bit of modest yen bullishness. We'll take you to London and daybreak Europe next. Economics. All this doom gloom is out there finding. Do you see this as a technical
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"France is up next. We'll have the details. We have some breaking lines hitting the Bloomberg from the corporate earnings season. This is from one of the major construction material players, Swiss giant wholesome, so they're coming through here with a second quarter sales number of CHF 8.24 billion, the market had been looking for CHF 7.84 billion so that is a beat on the second quarter sales front and net sales growth guidance 2022 is up at least 10% that coming through from wholesome year to date the stock has been on the pressure, but it's actually outperformed the main index. They're involved in all kinds of cement manufacturing facilities worldwide, a household name as it were, and we will await to see what the market how the market digests the information. I want to get back to the action in Asia though and see some of the highlights that David's looking at. He joins us from our Singapore or rather Hong Kong studio, David. Yeah, yeah, youssef or the lack of action because you have prices done as you can see half of 1%. Volumes are about 30 to 40% lighter. So really just caution ahead of the fed you talked about some of the tech earnings and that's leading to what you're seeing as far as NASDAQ futures are concerned. Alibaba's done pulling this one are these two benchmarks down. Also some concern over property and some fundraising here, pulling both of this down. We got some data out of Australia, Aussie assets looking like this. The short of it is you had a miss on CPI, still quite high. Now, that traders though, because of that myths are pricing out a big or a supersized rate hike out of the RBA. That's a meeting next week. As you can see, that's the price action ahead of that on the back of the data. And just very quickly, I'll end on this. I talked about Alibaba and I talked about country guarded just to put a number really esky heineck was out with earnings, chip maker here. And many saw that's a stock listen here in Hong Kong. Just went public in fact here, short seller report done 10% on the stock during the lunch break. In the morning session that is. We are in a lunch break still. Yusuf. Sounds like a great lunch break. Thanks, David. To follow that, that's David English. Let's get to Saudi Arabia now, because The Crown prince Mohammed bin Salman has arrived in Greece, embarking upon his first trip to Europe since 2018. So when foxman has been watching this from Doha. So Simone, as we saw some of these images come through, remarkable delegation that's head out. This is not just a quick visit. I mean, the whole almost the whole cabinet, the joint The Crown prince. No, it's not just a quick visit. I'll massive delegation going along with The Crown prince. And The Crown prince himself in a speech transcript of which was distributed to a reporter's says he's not coming empty handed. The most tangible things we do expect to see here are in the realm of trade and investments. Some of the things that have been thrown around with respect to the grease portion of this visit that continues today have been a linkage of an electricity grid in southern Europe, a data cable that's going to run under the Mediterranean. Also a project and this is really interesting to potentially make Greece a hub for hydrogen for hydrogen fuel for Europe in the future. So interesting to get any more details there. We're watching out for those. But figuratively, there is a really important here because clearly crown prince Mohammed bin Salman showing his return to the global stage after facing so much uproar around his involvement in the murder of Jamal Khashoggi back in 2018. This is his first visit to Europe. Now, as he goes on, we're going to be also watching for any comments around oil ahead of a crucial OPEC plus meeting on August 3rd so far, the message has been, we stand with OPEC plus. That's from various Saudi officials, but whether or not we also get an increase in production, that's still an open question. And then one Saudi family office is making a surprising investment that has to do with Israel. What details have emerged? Yeah, this really caught my eye because we don't see a lot of Saudi investments in Israel because they don't have diplomatic ties. But meet that capital, which is the family office of the el raji family, may remember all of our Chi bank. That all raji family making investments in two companies Israeli based companies that are listed in the U.S. and the UK, the most recent of which is utter nomo technologies. This is a company that aggregates car vehicle data and tries to analyze it also has made an investment recently in tremor international. That's a public relations firm. Despite the lack of diplomatic relations between these two countries, we spoke to the managing director of this family office yesterday. And he said, yes, we're sector agnostic. We're country agnostic, but like the innovation and technology culture that Israel has, and we're looking for ways to benefit from that. And away from Saudi Arabia to Iran and the nuclear deal in ominous news for those are seeking a revival to that agreement from 2015. What's the setback that came through? Yeah, well, we got an editorial from Joseph Burrell, the EU's representative and the chief coordinator for these talks in the FT yesterday. And while the title of this sounded a little more optimistic than it was, which was now is the time to save the nuclear deal, really this essentially signaling that the time for diplomacy is done. We've got to deal
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"High powered executives and professionals from all over the world who are working on this camp essentially, which is like very much felt like across between something from Silicon Valley and like maybe like a minimum security prison. And even the employees make a lot of jokes about that. They're like, oh, you know the wall, we're not sure if it's to keep people out or to keep us in. So it's a very strange atmosphere. There's not a ton of sort of visible construction going on now. It's a lot of preparatory work. It's like groundwork, you know, they're digging big tunnels or smoothing out ground, but it's not like you can go there now and see a city or see any of the things that they've been planning. They're still a pretty big gap between what they're talking about and what's happening on the ground. It sounds like they start things. They start working on it and they back off of it. It sounds like a lot of starts and stops. Who does seem to be winning though all in is if you're a consultant or anybody involved in the project, I love the line you talk about two buckets for those who work on the project and one of it is a bucket just to hold all the money that they're making. Don't mention the other bucket. I won't make any money. Well, you can. For number twos. But people are making a ton of money off of this. Yes, yeah. There are a lot of people who have found this to be an incredibly lucrative project. And that is predominantly the consultants and the people who come from outside to work there. Which was something that sort of came up again and again, that my conversations with people was that this is basically like a life-changing job for a lot of people, like they can come and make so much money that they can essentially, it makes a huge difference to their life. They can finish putting their kids through college. They can save up for retirement home. And so many of the people who come to do that are basically coming to earn that giant paycheck and they don't all necessarily actually have an investment in what actually happens once they're gone. All right, of course, that was the Bloomberg business week covers story, a fantastic cover story that was Bloomberg news Saudi Arabia correspondent Vivian niran, along with Bloomberg businessweek editor Joel Weber and be sure to catch our Bloomberg businessweek radio broadcast and podcast our broadcast. You can catch it on Bloomberg radio at 8 a.m. or podcast. You can just download download it today on your way home. Yeah, hey. Another shout out for this cover story of Bloomberg business. I've got the issue in my hand right here. What does $500 billion build in the Saudi desert, a royal fantasy brought to you by crown prince Mohammed bin Salman, some really great reporting, just some fantastic images in there as well. Yeah, our weekend show and podcast also including an AI startup that's helping to figure out COVID variants. We also talk about the economic inflationary picture and oil prices get ready probably for them to still stay high for not
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"He's got your world national news interruption. Okay, Matt, thank you. President Biden has arrived in Saudi Arabia. He has landed from eating today with king Salman and later crown prince Mohammed bin Salman, White House national security adviser, Jake Sullivan, set expectations on the way. Conversation about energy security, especially in the context of Russia's war in Ukraine. National security adviser Jake Sullivan spoke aboard Air Force One, Bloomberg's use of gamal eldin reports the Saudis already are painting the president's visit as a win. Saudi Arabia is the only stop actually in the Arab world and the Saudis are selling this as kind of look at us. We are really important and we matter to a global economy that's struggling for oil barrel. Bloomberg's use of gamal eldin reporting from Jeddah, Saudi Arabia. Back in Washington, senator Joe Manchin is throwing cold water on the president's hopes for a slim down Democrats only economic package, Manchin says he can not support new taxes or green energy spending, telling his home state metro news radio, inflation is killing people, and he doesn't want to damage the economy. The White House says budget reconciliation is needed to help fight inflation. The house is set to vote today on legislation to protect protect, reproductive healthcare after the Supreme Court's decision to overturn roe V wade is considering two bills, one would codify Rowan to law. The other would reaffirm the right to seek access across state lines, WNBA star Brittany griner has been back in a Russian court and her drug possession trial. Today, grinder's lawyer gave the court a doctor's note recommending that she'd take medical cannabis to treat her pain. Global news, 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Right now. It's off to Nancy lions in D.C.. Hey Nancy. Thanks, Carol. Ivana Trump has passed away. She was Donald Trump's first wife. Her family is confirming her death in a statement this afternoon. The Czech American businesswoman was the mother of Donald junior, Eric, and Ivanka, former Donald Trump's oldest children, former president Donald Trump's oldest children. In a 2017 interview, she told ABC's Amy roebuck, she was not surprised by her ex-husband's bid for the presidency. At any point, when you were married, did you ever think this man? Could be president one day. Yes. But you should run for president. And I think he could do it if there would not be a scandal. Ivana Trump was married to the former president from 1977 until they finalized their divorce in 1992. She was 73. President Biden wrapped up his trip to Israel by signing a joint declaration with Israeli prime minister yair lapid that spells out a U.S. commitment to do more to help build stronger Israeli defense technologies and to make sure Iran does not increase its nuclear aspirations. From Israel, the president heads to Saudi Arabia where he is scheduled to meet tomorrow with The Crown, prince Mohammed bin Salman, he was asked today if the murder of Washington Post reported Jamal Khashoggi would be brought up. I always bring up human rights, but my position on Khashoggi has been so clear if anyone doesn't understand it in Saudi Arabia and they haven't been around for a while. During Biden's campaign, he said the Saudi government should be a pariah for the death of Khashoggi and for its human rights record. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts and more
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Bloomberg television. This is balance of power on Bloomberg television and radio. I'm David Weston. It's another day. That means it's another day for President Biden over the Middle East. Once again, in Israel and we turned out our Washington correspondent with him over in Israel and Jerusalem and rih horder. For those of you on radio, I'll tell you it looks like a beautiful evening. One of those typical beautiful summer evenings in Jerusalem. I'm envious Anne Marie. So what did the president get accomplished today? I absolutely gorgeous evening David. Thanks for having me. So today the president had a press conference with the prime minister caretaker prime minister, remember Israel doesn't have a government at the moment. And really at this press conference, he declared the U.S. support is ironclad for Israel and they also discussed about extending that agreement that goes to 2028 in terms of billions of dollars of defense for Israel, but they didn't give us an end date for that. Remember, this was one of those very difficult negotiations under the Obama administration with the former prime minister Benjamin Netanyahu, the president also met with today because he is the opposition leader and really one of the biggest topics of today, David, was about Iran and how the president says he will not allow Iran to get a nuclear weapon and that it's up to the Iranians to take the deal that is currently on the table. So that was really the heart of the conversation today in Jerusalem. It is really going to shift tomorrow and the president becomes the first U.S. president to fly from Israel to Saudi Arabia when he meets with king Salman and crown prince Mohammed bin Salman. And as I understand it and Marie, even though you were in Jerusalem, the question of what happens tomorrow and the ensuing days with The Crown prince Mohammed bin Salman was not far from people's minds. Actually, the president was asked about it, isn't that right? Yeah, he was asked about and he'll constantly be asked about it because this is really a difficult line for the president to walk. It's the country he had vowed to make a pariah when he was campaigning. And now he really needs the kingdom to help him out. His biggest domestic problem is gasoline priced in inflation and the kingdom has the spare capacity to potentially help balance the oil market and how the administration would like to see a little bit more oil coming on to the market. He was asked though today about whether or not he would bring up the killing the murder of Jamal Khashoggi. The president has said that he has made it very clear his stance on Jamal Khashoggi didn't say he would bring up that exactly when he meets with crown prince Mohammed bin Salman, but did say he would bring up human rights issues, David. Yeah, at the same time, we don't know whether it will raise the question of Khashoggi. Do we not that they'll talk about security issues in the region, including involving Israel and most importantly, once again, Iran. Yeah, so on the Israeli front, the president said today they do want to continue and seek out more countries to normalize with Israel. We have Morocco, Sudan, the United Arab Emirates, as well as Bahrain under the Trump administration normalizing with Israel and they would love to see that relationship with the kingdom of Saudi Arabia, but the Saudis have made very clear that there could be no normalization, at least officially, David, when it comes to the two nations because
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"ETF, COW, one ETF of the year from with intelligence mutual fund and ETF awards last month and it's one that we highlight on our ETF show as well. So Sean, we got to get you on the ETF IQ show that we run Mondays at 1 p.m.. Let's get now down to Washington D.C., Nathan Hager joins us with world national news, Nathan. Thanks, Matt, President Biden is touting the strong U.S. relationship with Israel as he kicks off a four day trip to the Middle East in Tel Aviv. The connection between the Israeli people and the American people is bone deep. It's bone deep during his visit the president will be looking to deepen Israel's connection to Arab states to counter the threat from Iran on Friday he heads to Saudi Arabia for a pivotal meeting with crown prince Mohammed bin Salman, Bloomberg government, Emily Wilkins, has more from Washington. You've got a pretty big goal. He needs to try and figure out a way to stabilize gas prices, lower gas prices, and that's going to come to an ask to the Saudi government to be able to ramp up production stabilize, help stabilize the region. And that's really not a guarantee that that is going to happen. Emily Wilkins. On the way to Israel, White House officials hinted that there wouldn't be any handshakes with The Crown prince because of COVID concerns, President Biden shook former Israeli prime minister Benjamin Netanyahu's hand just after he stepped off Air Force One today. Back on Capitol Hill, the Biden administration is making a last ditch effort to move a China competitiveness Bill commerce secretary Gina raimondo is going to lead a classified briefing with all senators, the bill to boost U.S. semiconductor makers has bipartisan support, Senate minority leader Mitch McConnell is blocking it while Democrats negotiate a goat alone spending package. A tight governor's race is shaping up in Texas, a new university of Houston poll gives Republican incumbent Greg Abbott a 5 percentage point lead over democratic challenger beto o'rourke, Abbott beat his last opponent four years ago by 13 percentage points. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries, this is Bloomberg
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Stocks are falling bond yields climbing after a hundred than expected inflation report at a speculation about an aggressive Federal Reserve rate hike path, all major groups in the S&P 500 are treating after data showed that June consumer price index rose 9.1% from a year earlier, the largest gain since 1981, the Euro briefly fell below a dollar for the first time since 2002, and we checked the markets every 15 minutes throughout the trading day on Bloomberg. And right now, the S&P 500 is down about 1% on 36 points at 37 82, the Dow Jones Industrial Average down 9 tenths percent or 289 points at 30,693 have been asked to ex down 1% or a 112 points at 11,152. Ten year treasury down 1430 seconds, yelled three O 2%, they yield on the two year 3.16%. Nymex crude oil is up 7 tenths percent or 67 cents at $96 52 cents a barrel, comic school that'll change at 1726 ounce. The Euro 1.0028 against the dollar the N one 37.46 and looking at Bitcoin, it's down more than 1% in $19,230, and that's a Bloomberg business flash, Tom and creedy. Kieran, thanks so much, greatly appreciate that. I'm curving version. Again, we're watching two tens. Hit a negative 15 basis points. That is a much higher two year yield than a ten year yield speaks volumes of a slowing American economy. This is a joy. Wendy Benjamin has an esteemed career in just simply looking at the political backbone of his country. We all agree it's in some forms and ways shattered, and part of that is a president who's leaving on a jet plane. He's in Bavaria. Then he goes to Madrid, comes home, takes secure, and then he gets back on the plane and heads back to the Middle East. And Wendy, it is a multiple country Middle East, and with you and Dubai, I would suggest so much of this pivots around the United Arab Emirates explain to our audience why an ally here that we have is Abu Dhabi Dubai and the other crucial states. Hi, Dan. Thanks for having me. Well, yes. Here in Dubai, some of the leaders of these countries will be in Jeddah with Biden and crown prince Mohammed bin Salman on Friday and Saturday where Biden has gone hat in hand to ask them to up their production in an effort that may or may not relieve prices at the pump for Americans as Biden is hoping. And of course, timing is everything. And Biden lands right about the exact moment. We got the CPI data showing 9.1% increase. So it certainly sharpened his goals for the trip, although we don't really know that he will be able to walk away with anything. As an example of the Persian Gulf and the trucial states, how is Biden politics formed by the many different countries or is it just about Saudi Arabia? No, The White House has made it clear they're asking all the Gulf Cooperation Council states, which are the Emirates and Saudi Arabia. To increase production, of course, the biggest dog in that realm, of course, is crown prince mom. And that has the most political mistake for Biden because of the murder of The Washington Post journalist about Khashoggi and other human rights issues. So it's important for Biden to show some strength in the face of this leader, but the Emirates are absolutely crucial to this effort. Can you speak a little bit about the Iran of it all? This comes at a time when the Iran nuclear negotiations are under pressure at the same time Iran and Russia having conversations shed some light on the role that Iran plays in the conversation right now. Iran is the 800 pound elephant in the room or in the room, whatever the expression is. One of the goals of this trip is to strengthen the Sunni and Israeli alliance against Iran. The Saudi Arabia and the gulf countries are all Sunni, Muslims while Iran, of course, as a power. And they very much want Israel and Saudi Arabia to join up. As a regional alliance, the trouble is the Arab countries want Israel to give concessions to the Palestinians. That's not going to happen. And Israel is desperately opposed to the Iran nuclear deal, which Biden very much wants to restart. We're going to run out of time here, Wendy, but this is important. This isn't Carter and Sadat, is it? I mean, we're far beyond the moment that we had 40, 50 years ago with James Carter. It seems far beyond that. Biden is going to walk away with maybe some progress toward a possible goal, not an official handshake. Wendy, thank you so much, Wendy, Benjamin senator deputy managing editor here in all things Washington. I believe from Dubai today. I'm not sure. She's not trout fishing and Idaho. I think it's to buy is what it is. I look at the screen and I first of all, I feel like it's Friday. I didn't get the memo. Somebody just told me it's Wednesday. I'm like, really? Because there's so much going on, and I look at the two year and ten year and go quick, call technical to Bloomberg's broken. 3.15%, two year, 3.02%, ten year. It's not supposed to be that way. It's not supposed to be that way, but I would say, yes, it does feel like a Friday, perhaps on the surface, but take a look underneath the hood at the volume you're seeing in the equity market. A 35% increase in volume in just the last couple of minutes. This coming even as I think the summer trading has already perhaps kicked off. S&P negative 28 down features negative two 48 a little bit better than before. And the vix was out assault stick 28 level now 27.87. I'm going to call it a churn but with a difficult feel. I got to go to Bitcoin as well, there's some to be something about the character here under 20,000. It is sort of here under 20,000. Well, I'm confused about the role that Bitcoin plays here. It's still that risk sentiment indicator. Is it just a commodity that we're throwing in the mix? I'm going to get a lot of hate mail off this. Really testing you here. But I think the question in the equity market here, it is very clearly a conviction selling kind of moment in Bitcoin. It's only down 9 tenths of a percent. That's not even a one standard deviation move. Let's go through foreign exchange with DXY over one O 8, which itself is stunning given the last month and what we see with Euros for parity earlier, a .99 statistic, 1.0028, a little bit of a bid to Euro in the last hour, but the headline for me is yen, which I'm watching very carefully because nobody's watching it in a one 37 53 to see a one 38 print and an unimaginable one 39. We're not there yet, but certainly that's something worth watching. Let's talk about the ripple effects of that weaker yen because as you see the yen become an even weaker and weaker export currency, it creates almost this export war almost in Asia and that brings me to dollar you want. The offshore you want right now is 6.7. How much does that create or increase the odds of any sort of devaluation to start competing on the export front? We will have to see again negative two 72
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Recession is being priced on both sides of the Atlantic, a slightly deeper one in Europe. But I don't think the market is really poised for any significant or prolonged recession. Short and shallow, there seems to be the consensus. That was Peter Oppenheimer, the chief global equity strategist at gom and Sachs from New York City this morning. Good morning, in case your market, we are positive a third of 1% on a S&P up 11 on the NASDAQ 100 up about four tenths of 1%. Yields come in a couple of basis points, two 95, 65, and do you want to call this a bounce after the mess of yesterday on crude Tom? We're at 1%. 96 80. It's a good point, John, because I think the whole screen looks stasis here. Turkish leader unravels renminbi has got some stasis to it. I just think there's a whole pause here, John all in all. Equities bonds, currencies, commodities waiting for ether. Energy and focus waiting for a 30 year CPI, then waiting for later this week too. Jake Sullivan Tom in the last 30 minutes or so, the president's national security adviser basically tan and Gus that a president will meet with a Saudi crown prince Mohammed bin Salman on Friday evening. Put that in the diary. It goes back to the Iran Iraq War. And it is VA's UAVs excuse me, not University of Virginia. You AVs, which are drones, and the zeitgeist this morning away from the president's trip in the diplomacy is the fear of Iranian drones aiding mister Putin in Russia are in recording his in Jerusalem where this will be one of the topics every tie in the meet and greet the photo ops with a hardcore fear of these selected parties of Iran and their ability to take legitimate military technology from the Iran rock war from 30, 40 years ago and bring it forward to aid mister Putin. Well, really, you have the Russian Iranian ties, incredibly strong, especially as Vladimir Putin, we do know is continuing this war, which has now become a war of attrition, but is really locked out of dealing with the number of countries. So places like Iran, places potentially like China are going to be those avenues. He is going to work with to try to secure some of these weapons. That is one part and concern of this trip. And the president outlined this as well in his opinion piece in The Washington Post over the weekend. One of the reasons why he is saying in defense of his visit to Saudi Arabia considering the fact that there's many that is critical of this visit to the kingdom is because they are trying to counter a Russia also in Iran. That is not back in the nuclear agreement as well as China. But this in the region is a huge issue. And this is something that can you have the Israelis and the Saudis coalesce around. And that is about a united front against Tehran. Anne Marie, as we hear about the potential meeting with Mohammed bin Salman, what is the potential political fallout from this meeting from this trip given some of the concerns about human rights violations of The Crown prince? All eyes will be on this on this meeting and this will go down in history books, whether or not it's a handshake or a photo op. The president campaigned on making Saudi Arabia a pariah. He talked about there was no redeeming qualities of the current government. It has led obviously by king Salman, but the day to today operations, everyone knows, is led by The Crown prince Mohammed bin Salman. The president then, when he came into office, released that intelligence report that said that Mohammed bin Salman approved the killing of Jamal Khashoggi a Washington Post columnist. He has now had to deal with domestic policy concerns, which is higher gasoline prices, and you can not fix the oil market without Saudi Arabia. Yes, Saudi Arabia alone can not fix it, but they are the Central Bank of crude. You can not go and try to bring down gasoline prices without engaging in the kingdom. And so now the president is going to go there and this is going to be a huge about face on what he wanted to do with the kingdom, but in his op-ed beat, he talked about the fact that he wanted to reorient, not rupture. But he also just days after he was inaugurated, said that he was only going to deal with the king. He will now be dealing with crown prince Mohammed bin Salman, and this is something that all eyes will be on. And potentially, after this meeting, he will get some more barrels on the market and potentially that can help him in November. Okay, some barrels, but is the juice worth the squeeze at a time when spare capacity is not that great. When you have not that much left, that they can possibly pump according to a whole host of analysts and you have other OPEC nations. They can't even keep up with their quotas as is. Well, the president is going to have to try to deal with this at home domestically right now, inflation, poll after poll is the number one concern. So to use your phrase juice for worth the squeeze, I think to this administration at this moment, it is, but also to think that the administration was never going to have to deal with the kingdom over the course of four years is naive to a lot of people who look at this region. This is the biggest economy. They also want to expand upon the Abraham accords. A huge country for Israel to do that with would be the kingdom. So at some point, the president was going to have to write this op-ed or make this trip. I'm Marie folding in a deep knowledge of oil markets and OPEC AMH. Thank you with the latest Ed Morse. Here's the latest from city. This is what he's got to say. Tom, you're like this. Oil is more likely to hit 50 than one 50. Ed moss going on to say a slowdown in global growth could come alongside robust supply growth if prices fall into the 60s or the 70s. He suggested OPEC plus may well act again to support them. And what's important in your job. First of all, it's a victory lab for doctor Morris. He's been lonely and very dead on in the pullback here from one 24 to 100 on Brent crude. I'm going to call that a 20% decline. John what's so important here is the global political economics of Edward Morse is about nothing more than declining demand. I can't emphasize enough the bull say bigger demand, bigger Pacific Rim demand and has more says, guess what? No demand price down. That was not in the OPEC outlook for 2023. Was it Lisa? Not in a material way at all. No, they basically were projecting out that demand was going to outstrip supply materially for the upcoming years. And this really flies in the face of what we're seeing in the price action. I mean, how do you understand the decline that we've seen in crude prices facing off with one report after another from the main oil producing nations saying, this isn't going to stop this dynamic is here to stay. Gasoline prices are coming down with that provides some relief on CPI in July. For the month of June, we're looking for 8.8% headline year over year. A lot of people in this market will be very focused on a month over month core figure. As we often say, Tom, headline year over year, that's the front page of the Main Street newspaper for Wall Street focused very much on a month over month figure and what that would mean for this fed. It's very British. I mean, I'll go with that for the month over the month.
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Representative Zoe lofgren says this week's January 6th hearings will be worth watching, appearing on CNN State of the Union, the California Democrat declined to say which witnesses would be featured, but spoke at length about what she described as the insightful closed door testimony from former White House counsel pat cipollone. He reportedly interviewed with the House select committee for 8 hours on Friday, public hearings are scheduled for Tuesday and Thursday. President Biden is defending his upcoming trip to Saudi Arabia in an op-ed in The Washington Post. There have been objections to his Saudi visit after U.S. intelligence concluded that crown prince Mohammed bin Salman was behind the murder of Washington Post journalist Jamal Khashoggi in the post Saturday Biden said the U.S. has to engage directly with Saudi Arabia to stay strong and secure. Biden's trip to the Middle East starts Wednesday and while also includes stops in Israel and the West Bank. Police are investigating after 5 people were shot overnight in Coney Island, New York, Paul de Castro has the story. Someone opened fire at a large group gathered at 21st street and the boardwalk at around 2 a.m., the suspect struck 5 people, including a man who was in critical condition at the hospital, the other four victims were taken to the hospital in stable condition, a 19 year old man and two women in their 20s were shot in the leg, a 36 year old man was struck in the chin, the shooter fled the scene no arrest had been made. Paul de Castro, New York. More than a dozen people are dead after a shooting at a bar in South Africa. Scott Carr has more. Police say at least 11 others were wounded early today in the Johannesburg township of Soweto. Police say a group of men randomly opened fire on patrons inside a crowded tavern before escaping and a taxi. They're still on the run and the motive for the shooting remains unclear. The new Thor movie is a box office smash on its opening weekend, Thor: Love and Thunder is the fourth installment in the marvel God of thunder saga. It's projected to rake in $150 million in the U.S.. I'm Deena kodiak. Former president Trump is hinting at another presidential campaign. The approval of the great people of Alaska we may have to do it again. Trump held his first ever rally in Alaska in support of Kelly shabaka in Sarah pollan, he voiced his support for shabaka to take Alaska GOP senator Lisa Murkowski's seat in the Senate, calling her a rhino or Republican in name only. Pollen is running for the state's only U.S. House seat, Trump has yet to officially declare he's running in 2024, but said that with the approval of people in Alaska, he quote may have to do it again. A wildfire burning in Yosemite National Park is threatening nearby communities and some of the nation's largest and oldest trees. Eddie McCoy reports. The washburn fire has burned at least 1100 acres near mariposa grove, threatening hundreds of giant Sequoia trees. National Park Service crews were out wrapping the trees hoping to protect them from the flames. Evacuation orders have been issued for the community of wawona, the national park is still open despite the smokey conditions. Chicago authorities say 6 diners were injured when a car jumped the curb and crashed into a north side restaurant. Police say the diners were seated on the outside patio Friday night when the driver of a silver Lexus sedan lost control while trying to pass another vehicle and smashed into the restaurant, hitting four customers and two employees, two of the victims reportedly had broken legs in the front door of the business was shattered. The victims are expected to be okay, police are searching for the driver who ran off after
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"To just remind you how markets closed This is one day before that fed meeting So we're all kind of on pins and needles The S&P 500 just down about 14 points certainly off its highs and lows of the day Same story for the Dow down a 151 points down half a percent And Tim we did see the NASDAQ just eking out a small gain of about two tenths of a percent So let's go check on the latest world in national news now for that we go to Denise Pellegrini and the Bloomberg 11 three O newsroom in New York hey Denise Hey Tim thank you Well Senate negotiator is working on a bipartisan gun control legislation They're now talking about a possible vote on this next week and it looks like the framework is getting growing support because now Senate minority leader Mitch McConnell says he's in favor of the framework and he's calling it all evidence Washington canal work together And further demonstrates to the American people that we can come together which we have done from time to time on things like infrastructure and postal reform to make progress for the country And McConnell commenting to reporters President Biden will be heading to Saudi Arabia next month and a visit with crown prince Mohammed bin Salman is in the cards The White House is confirming the president will make that visit as part of a Middle East trip The president wants promise to make Saudi Arabia a pariah but Bloomberg's Anne Marie horde reports the situation has changed The war in Ukraine rushes invasion of Ukraine That has started to shift the tides in a number of capitals around the world about making sure they shore up their allies and it changed a lot of diplomatic priorities and that's obvious for this administration and Bloomberg said Marie horde in Washington also saying Biden will be going to Israel and the West Bank as part of this trip Caterpillar is leaving Illinois It is relocating to Texas Some pullbacks in the real estate sector real estate broker compass is cutting about 10% of its workforce Redfin cutting about 6% And the FDA has approved a historic treatment for the hair loss autoimmune disease alopecia and this drug is sold by Eli Lilly at another company Global news 24 hours a day on air.
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Chief Eric Douglas says it took about three minutes for officers to arrive at the scene and they made contact with the gunman about ten minutes later This comes after other deadly mass shootings and you've all Texas and Buffalo New York that already have democratic leaders calling for greater restrictions on guns Nathan while President Biden can tend with another shooting he is also grappling with rising gas prices That has him now planning a trip to Saudi Arabia Amy Morris and details from our Bloomberg 99 one newsroom in Washington Sources tell Bloomberg news President Biden is likely to visit Saudi Arabia later this month and that could mean the president would also meet with crown prince Mohammed bin Salman who the U.S. blames for the 2018 murder of U.S. based columnist Jamal Khashoggi Early in his presidency Biden said he would only deal with Saudi Arabia's official head of state king Salman bin abdulaziz but the president is under increasing pressure to meet with Ben Salman as gas prices hit record highs In Washington I made Morris Bloomberg daybreak Let me consumers could get a bit more relief at the pump ahead of that proposed trip According to the Financial Times Saudi Arabia is prepared to produce more crude if Russian output declined substantially Meantime OPEC and its allies meet today they're expected to ratify a modest increase in production Checking prices now nymex crudes down 2.2% or $2 52 cents at a $112 73 cents a barrel Brent is down two and a quarter percent at a $113 66 cents While Nathan Wall Street is still reacting to the resignation of meta chief operating officer Sheryl Sandberg she became one of the most recognized figures in global business After helping Facebook transform from a startup into a multi-billion dollar advertising powerhouse Sandberg spoke about her decision with Bloomberg's Emily Chang The decision I didn't come to lightly.
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Futures are higher this morning 5 O one on Wall Street we check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures up about 16 points this morning Now futures have 86 and NASDAQ futures up 66 Nathan Well Karen we begin this morning with yet another mass shooting in the U.S. this time at a medical building in Tulsa Oklahoma deputy police chief Eric Douglas says a man carrying a rifle and a handgun opened fire on employees and visitors before turning his gun on himself We have four civilians that are dead We have one shooter that is dead and right now we believe that is self inflicted Deputy chief Eric Douglas says it took about three minutes for officers to arrive at the scene and they made contact with the gunman about ten minutes later This comes after recent mass shootings and you've all the Texas and Buffalo New York that have democratic leaders in Washington calling for greater restrictions on guns Nathan well President Biden contends with another shooting he is also grappling with rising gas prices That has him now planning a trip to Saudi Arabia any Morris as details from our Bloomberg 99 one newsroom in Washington Sources tell Bloomberg news President Biden is likely to visit Saudi Arabia later this month and that could mean the president would also meet with crown prince Mohammed bin Salman who the U.S. blames for the 2018 murder of U.S. based columnist Jamal Khashoggi Early in his presidency Biden said he would only deal with Saudi Arabia's official head of state King Salman bin abdulaziz but the president is under increasing pressure to meet with Ben Salman as gas prices hit record highs In Washington I'm Amy Morris Bloomberg daybreak All right Amy thank you Consumers may be getting a bit more relief at the pomp ahead of that proposed trip According to the Financial Times Saudi Arabia is prepared to produce more crude if Russian output decline substantially Meantime OPEC and its allies meet today they are expected to ratify a modest increase in production checking prices right now nymex screws down 2% or $2 30 cents at a $112 96 cents a barrel Brent is down 2.2% at a $113 76 cents While Nathan Wall Street is still reacting to the resignation of meta chief operating officer Sheryl Sandberg She became one of the most recognized figures in global business after helping Facebook transform from a startup into a multi-billion dollar advertising powerhouse Sandberg spoke about her decision with Bloomberg's Emily Chang The decision I didn't come to lightly.
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"Chinese could processing tumble last month to the lowest in two years And sources over neither told Bloomberg President Biden is Wayne and meeting with the cytochrome prince Mohammed bin Salman in a possible sign of thawing tensions What does it all mean Bob mcnally founder and president of rapid energy To the top story bob a thoin in relations Biden could meet MBS I'd probably that What does it say to the market and what might it mean for oil supply in reality You bet So we've been advising clients since March that there's this back channel negotiation going on Whereby there would be a reset in June between the United States and Saudi Arabia and the UAE about a lot of issues including oil but also Yemen and other things And as part of that OPEC plus would accelerate tapering We've been carrying a 30% odds I'm raising that now to 40% I'd like to see news of the trip confirmed We don't have confirmation that a deal has been struck But if the president goes I think odds of some form of faster tapering will go above 50% Now what does it mean OPEC plus has about 2.2 million barrels a day of spare according to our accounting One option would be to accelerate the tapering this plant you know And put the rest of the oil in Not all of that 2.2 By July or August right They meet June 2nd so they could lift as soon as July They could accelerate the quota increases beyond the four 32 Option B a bigger one would be for Saudi Arabia to do what it did in 2008 near the top And that is to go all in and maximize surges production to two 12 or 12.2 million barrels a day Right Those are the two options That's what's at stake Should this materialize I mean I think back to Valentine's Day in 1945 on the USS Quincy which was an American cruise ship The Saudi king Abdullah Z meeting with president Franklin D. Roosevelt at the time and they engaged in a deal that would last to this day which is basically America provides security guarantees in return for affordable energy If this kind of reset does not come to fruition what is the potential upside here for crude oil and Brent specifically Well I think crude oil prices and product prices are heading higher whether or not there's a reset The only thing that's going to stop this upward trend unfortunately is demand retrenchment probably in the context of a recession That's just the math of this As long as we're disrupting so much Russian oil China is going to come back from COVID shutdowns Demand there's no sign of significant demand response to already high prices It's going higher What a retrenchment or a faster tapering might do is give us a dip to buy But the prices will go higher until we hit recession and demand declines So bob the other aspect over now there's a couple of things in Chinese restocking via Russian fuel but I'm drawn to Javier blass's tweet And it touches on what you've said The world's oil spare capacity is inside Saudi Arabia The world's oil refining spare capacity is in China But bob oil refining is over two year low High tight is the supply side on the products for the world Or is it just a temporary tightness No it's structurally tight We've taken down a lot of refining capacity in the world and U.S. million and a half barrels a day in the last couple of years And also we've disrupted Russian product exports Gas oil vacuum gas oil nafta gasoline And so and China has imposing quotas on its teapots and is crimping its exports at least at least currently And it has had supply side problems as well affecting the refining like every other sector So no we're structurally low on refining We're tight and we don't think a root ramp up and runs either China or in the U.S. as we come back from maintenance which we will is enough to solve this problem Bob I'm looking at the gasoline prices in the U.S. and the average number came out It's sort of a weekly data point that everybody rallies around And we're looking at four 59 a gallon I mean those are record highs The administration is trying to ease those with some legislation that went through the house Is that going to work And if that's not going to work given your experience what could work Yeah So the record high gasoline and diesel prices in the United States are political problem number one for the Biden administration This house anti gouging bill is a message bill even the leaders realize it's going nowhere It'll die like most things do in the Senate So I don't think it'll ever get to President Biden's desk And the only thing unfortunately is going to stop this I think is prices getting so high And remember earnings are up We're more efficient So although our record high and prices we haven't really reached the maximum burden yet that oil prices place on the consumer if you think about where wages are and how much energy expenditures are of as a percentage of income So we can still go higher and we think we will And that will be necessary to begin to dissuade consumption Another thing you're going against here is pent up demand People are sick and tired of COVID and restrictions They want to drive They want to fly the fuel They want to get the United States expecting big big demand season big driving season this summer Absolutely And that'll drive the crack spreads We've seen they're going into the gas rather than the days of bob very quickly We've got a couple of other big issues to get through If Biden meets MBS does no peck fall off the table A lot of anxiety in our region about no pack why is it there How real is it So balance those two for me Yes if President Biden meets with conference Mohammed bin Salman no peck will remain a very low probability We have 35% The White House has already poured cold water on nope when it passed out of the house So I think that will.
Bloomberg Radio New York
"prince mohammed bin salman" Discussed on Bloomberg Radio New York
"By four tenths of 1% the Euro up two tenths and the pound also up by two tenths of a percent at one 31 81 That is a Bloomberg business flash Now he is leaning with more and what's going on around the world And a good morning to you and thank you President Biden has branded Russia's Vladimir Putin a war criminal and offered $800 million worth of new weaponry to Ukraine including 100 armed drones This comes as Russian forces continue to strike infrastructure targets Ukraine says Moscow bombed a theater in Mario pole that was serving as a civilian shelter In his nightly video Ukrainian president Vladimir zelensky said negotiations with Russia were continuing Boris Johnson is expressing optimism Saudi Arabia will pump more oil to help lower energy prices during a trip to Riyadh but he couldn't give any assurance the kingdom would do so the PMM The Crown prince Mohammed bin Salman agreed to collaborate to maintain stability in the energy market And a strong earthquake has struck northern Japan year Fukushima It measured 7.3 in magnitude and hit late yesterday with reports of full deaths and dozens more people injured A bullet train also derailed on a stretch of track in that region though no injuries have been reported there The affected area was devastated by an earthquake and tsunami in 2011 that left 16,000 people dead Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Leanne gerrans This is Bloomberg Caroline I'm sorry I don't know why that was just automatic Anna Edwards No problem right As the Anne was talking about well as we've been talking about this morning we found a Federal Reserve interest rate decision of course the Bank of England comes next and the Bank of England has been ahead of the fed and actually starting its rate hiking cycle already Let's shift our focus then two central banking action and think about the BOE with the UK rate announcement due at 12 London time a clear majority of economists are expecting a third rate rise in a row Joining us now is Bloomberg economics reporter Lizzie Burton Lizzie good morning The fed raised rates for the first time since the pandemic yesterday and signaled 6 hikes this year the Bank of England of course has already started hiking What do we expect today Yeah good morning I know Well it's a tricky moment for the Bank of England because while you've got inflation running at a first year high and only set to climb with the war in Ukraine pushing energy and food prices higher The risk of responding by tightening too aggressively is that the bank adds to the weight of war on the recovery So economists as you say are expecting the bank to hike rates for its third straight meeting but the question is how big will the hike be There might be some on the military policy committee who prefers to front load with a 50 basis point height today to get on top of inflation expectations and cut the scale of tightening overall But there may also be some who say that inflation payment itself by weighing on demand and there's not much that a rate rise now can do about the immediate crisis So Bloomberg economics reckons will land in the middle at 25 basis points which would take the key rate back to 0.75% And that's where we started before the pandemic Right so there is this expectation we get back to that pre-pandemic rate level interest rate level Are we likely to get more details on quantitative tightening today remind us where we've got to on already starting QT and where still to go Yeah we'll invest in the best thing that rates hit 1% by May and that's the level that officials have said would be the minimum though not the automatic trigger to start actively selling government bonds As you hinted at we've already started letting the guilt roll off the balance sheet But I wouldn't hold your breath for more details on quantitative tightening today because the banks also said that it won't sell government bonds actively in its time of economic or financial stress and clearly Warren Ukraine creates both And the read I'm getting from the Bank of England is that they're going to tread very carefully on QT because ultimately this is territory the banks never had to wait for And if we do get this 25 basis point hike as expected I remember one of our colleagues writing a piece about good cop bad cop And if this is the bank of people playing bad cop in terms of the cost of living then maybe that means the Chancellor has to play good cop Where does that leave Rishi sunak in the run up to his spring statement Exactly brilliant piece by David Goodman Andrew Bailey playing the bogeyman at the moment and it leaves the pressure on but she soon act to loosen the purse strings next week He could cut fuel duty He could cancel the planned tax rise for April but he's already pretty much ruled that out And then think tank the resolution foundation is calling on him to increase benefits If he doesn't act now it could be a political headache for the conservatives down the line because this cost of living crisis is set to drag millions more people into financial difficulty who've never had to worry about the cost of living before So it's not just the poorest household And it will affect middling England and they're the votes that the conservatives need to hold on to power So that will be on soon after my next week Okay thanks very much for that Lizzie Lizzie Burton Joining us there from the Bank of England with a look ahead what to expect there Straight ahead on Bloomberg daybreak Europe we'll hear from our earlier conversation with Kyiv based human rights lawyer Alex Alexandra Matt.
AP News Radio
Saudi Oil Giant Aramco Sees Half-Year Earnings Climb to $47B
"Saudi Arabia's oil producing company Aramco has announced an income of forty seven billion dollars for the first half of the year the ending is double what the company took over the same period last year when the coronavirus ground to travel and pummeled global demand for oil Aramco's CEO Amin Nasser said the company's second quarter results reflects a strong rebound in worldwide energy demands around his financial health is crucial to Saudi Arabia stability despite massive efforts by Saudi crown prince Mohammed bin Salman to divest by the economy the kingdom still depends heavily on oil exports to fuel government spending I'm Karen Thomas
THE NEWS with Anthony Davis
Saudi Crown Prince announces Saudi Green Initiative, Middle East Green Initiative
"Saudi arabia aims to plant ten billion trees in the coming decades as part of an ambitious campaign unveiled by crown prince mohammed bin salman on saturday to reduce carbon emissions and combat pollution and land degradation the de facto. Ruler of the world's top oil exporter said that saudi arabia aims to reduce its carbon emissions by generating fifty percent of the country's energy from renewables by twenty thirty react would also work with other arab states on the middle east green initiative to plant an additional forty billion trees which the print said. We'll be the world's largest reforestation program. The statements did not provide details. On how the ambitious planting project would be carried out in the country with limited renewable water resources. The world's largest producer of desalinated water has in the past said it would use cloud seeding and recycled water to plant local trees that require less irrigation including in urban areas. The saudi green initiative is part of the prince's vision twenty thirty plan to reduce its reliance on oil revenues and to improve the quality of life in the country the kingdom the region and the world needs to go much further and faster in combating climate change. Prince mohammad said he said the share of clean energy production in the middle east does not currently exceed seven percent and that saudi would work with regional partners to help contributes to a reduction in carbon emissions resulting from hydrocarbon production in the region by more than sixty percent.
Morning Edition
Journalism watchdog files criminal complaint against Saudi crown prince
"Media rights group Reporters Without Borders has filed a criminal complaint against Saudi Crown Prince Mohammed bin Salman. The group alleges the crown prince and his top aides committed crimes against humanity in the killing of Washington Post columnist Jamal Kashiwagi. NPR's Eleanor Beardsley reports. Reporters without Borders filed the criminal complaint in a German federal court because German law authorizes a judge to pronounce on human rights abuses against non citizens committed outside of Germany. The filing also alleges that Saudi officials are responsible for widespread and systematic persecution of journalists in the kingdom, citing the detention of more than 30 journalists. Head of Reporters Without Borders, says the case is meant to send a message to those who silence imprison, assassinate or target journalists that they won't get away with it. Saudi Arabia is ranked 170 years out of 180 countries on the reporters without Borders. Press Freedom Index. Eleanor
Mornings on the Mall with Brian Wilson
Khashoggi's fiancé says Saudi royal must be "punished without delay"
"After the Biden administration condemned but did not sanction Saudi Arabia is Crown Prince for the more Order of the Washington Post columnist. There's now push back Jamal crucial. Gee's fiance is calling for Saudi Arabia is Crown Prince. To be quote Punished without delay a teacher Cheng Keyes has world leaders, beginning with President Biden must decide if they're prepared to shake hands with a murderer, A U. S intelligence report released Friday. Found Prince Mohammed bin Salman had approved Kush. Oh, jeez, killing at the Saudi Consulate in Istanbul. The U. S. Has declined to impose sanctions on the
World News Tonight with David Muir
Biden to reexamine Saudi relations after release of declassified Khashoggi report
"Turn now to president biden promising and announcement monday on saudi arabia. After that intelligence report on the killing of us based journalist jamal kashogi he was last seen entering the saudi consulate in istanbul. In twenty eighteen that report finding the saudi crown prince ordered the assassination but no direct punishment for him and tonight growing calls for justice. Here's abc's alex birsh tonight. One day after the release of that report blaming the saudi crown prince for jamal kashoggi's brazen murder president biden with this warning. Monday with chris. Botti reagan while the us has taken action crown prince mohammed. Bin salman is not faced any direct penalties overnight. Biden said he'd put the saudi king solomon's father on notice weird hold them accountable for human rights abuses in two thousand eighteen kashogi. Us resident and journalist was lured from his home to the saudi consulate. in istanbul. He was then brutally murdered and dismembered the now declassified four page assessment cited bin salman's control of decision making and support for violent measures to silence dissidents abroad before. Now now i. I believe he will never come back. After the report's release kashoggi's fiance. I teach shaky posted this photo. She took of him in their home. The white house imposed visa bans on dozens of saudis and sanctions on one former official but not the crown prince still some democrats and republicans are questioning. Why bin salman has not been penalized. I think it's fundamentally a problem. If you conclude that the crown prince ordered the capture killed but only hold people that follow the orders to account with the white house had no further guidance. On what monday's announcement will be. The secretary of state said that the us doesn't want to rupture but recalibrate its relationship with saudi arabia. The saudis have called that report inaccurate
News, Traffic and Weather
U.S. intelligence report: Saudi crown prince approved journalist murder
"S intelligence has found that the de facto leader of Saudi Arabia, Crown Prince Mohammed bin Salman personally approved an operation to capture or kill the murdered journalist Jim Alka Sugi in 2018, the U. S imposed sanctions on some of those involved. Spared the crown prince himself in an effort to preserve relations with the kingdom.
Up First
U.S. says Saudi crown prince approved Khashoggi killing, imposes visa restrictions on 76 Saudis
"It was just about two pages long but those pages carried the weight of the. Us government will not proven a summary of findings issued by us intelligence agency state that saudi arabia's crown prince approved two thousand eighteen killing of jamal. Khashoggi it's been long suspected that prince mohammed bin salman defacto leader ordered the murder but the release of the summary finding sends a clear signal. That president biden's taking tougher stand against the kingdom than his predecessor. Npr's jackie northam has been following developments and joins us. Jackie thanks so much for being with us morning. Scott hi please give us an overview of the main findings right well just to be clear. There's no smoking gun but you know. There's a lot of circumstantial evidence in this two page report. And let me just read you a line from it. If i could quote the crown prince has had absolute control of the kingdom security and intelligence organizations making it highly unlikely that saudi officials would have carried out an operation of this nature without the crown prince's authorization unquote and scott. It goes on to say that members of his close inner circle were involved. In the killing and dismemberment of kashogi and the crown prince has supported the use of violent methods to silence dissidents abroad. And you compare what's in this report to what president trump said when asked about whether the crown prince had any knowledge of the killing and he downplayed it saying maybe he did. Maybe he didn't and One of the things to keep in mind. You know this report is a summary and there's a lot more evidence that the cia has about khashoggi's death that remains classified this report summary note but Does seem to say pretty bluntly that. The saudi crown prince has blood on his hands What kind of potential impact Could this happen relations between the us and saudi arabia. Which after all has been a very close ally for decades right. yeah well. it's it's definitely bound to have an impact you know. The crown prince is likely to become king of saudi arabia. And we'll be around for a very long time and it'll be interesting to see how the us will deal with him both in the short term after this report and certainly in the long term once he becomes king. We don't know how that's gonna shake out yet but as you say. Saudi arabia is a longtime ally in a really strategically important area of the world. You know in an interview with npr. Yesterday admiral hanes the director of national intelligence. Said it was just too soon to tell if the relationship has been damaged by this. Let's have a listen. It is not surprising. I suppose to see a shift in the relationship in some ways with the new administration and a new position and the number of challenging issues that we face together. But i think there will be what he's to whether the various storms that we have in front of us and one other thing. The saudi foreign ministry said on friday that the kingdom has already jailed. Those responsible for kashoggi's killing and that while it completely rejects the reports findings it called. Us saudi relationships robust and enduring. Jackie calls from From many quarters Clothing members of congress Human rights organizations calling on president biden to to punish sanction of the crown prince For his role in khashoggi's death. How likely does that seem to be. Biden's stop short of severely punishing the crown prince. But he said on. Friday evening that from now on the kingdom is going to be held responsible for human rights abuses and he said that there would be more significant changes announced on monday. He didn't indicate what those might be. But you know the administration did take some other steps yesterday. It announced something called the kashogi ban which allows the state department to impose visa restrictions on anyone acting on behalf of a foreign government Who's threatening dissidents overseas and it's already imposes kashogi ban on seventy six saudis and their families. And you know secretary of state. Anthony blinken talked about these moves by the us yesterday. Here he is. So what we've done by the actions that we've taken Is really not to rupture the relationship. But to recalibrate to be more in line with our interests and our values but apparently this travel ban doesn't include the crown prince himself and administration officials said on background yesterday that as a matter of practice. The us doesn't apply sanctions on the highest leadership of countries with which it has diplomatic relations and already there are increasing calls for tougher action against the saudi crown print
THE NEWS with Anthony Davis
US implicates Saudi crown prince in journalist's killing
"I'm anthony davis saudi arabia's crown prince likely approved the killing of journalist jamal khashoggi inside the saudi consulate in istanbul. According to a newly declassified us intelligence report released friday that instantly ratcheted up pressure on the biden administration to hold the kingdom accountable for a murder that drew worldwide outrage. The intelligence findings were long known to many us officials and even as they remain classified have been reported with varying degrees of precision but the public rebuke of crown prince. Mohammed bin. Salman is still a touchstone in us saudi relations. It leaves no doubt that as the prints continues in his powerful role and likely ascends to the throne. Americans will forever associated with the brutal killing of a journalist who promoted democracy and human rights yet even as the biden administration released the findings it appeared determined to preserve the saudi relationship by avoiding direct punishment of the prince himself despite demands from some congressional democrats and kashogi allies for significant and targeted sanctions. Saudi arabia's foreign ministry responded by saying the kingdom categorically rejects the offensive and incorrect assessment in the report pertaining to the kingdom's leadership democrats in congress praised the administration for releasing the report the trump administration had refused to do so but urge to take more aggressive actions including against the prince representative adam schiff champion of the house. Intelligence committee urged the biden administration
Q
US intelligence report finds Saudi Crown Prince responsible for approving operation that killed Khashoggi
"President Biden says the public release of an intelligence report tying Saudi Arabia is Crown Prince to the death of journalist Jamal Cash. O G shows the country that the rules are changing. Shoji, who lived in Virginia and wrote for The Washington Post was killed inside Saudi Arabia is Turkish consulate in 2018. NPR's Scott Tetro has more at the time. U. S intelligence ASSESS that Saudi Arabia is Crown Prince Mohammed bin Salman approved the killing of cash. Oh, gee! But as President Trump pursued a warm relationship with Saudi Arabia, his administration never made that finding public. In an interview with Univision, Biden said the reports released sends a message. The rules were changing. And we're gonna be announcing significant changes today and on Monday, we're gonna hold them accountable for human rights abuses, And we're gonna make sure that they fact if they want to deal with us, they have to deal with it in a way that human rights abuses are dealt with newly announced sanctions do not directly target the Crown Prince. Got JETRO NPR news, the White
WBZ Midday News
U.S. officially points the finger at Saudi crown prince in Khashoggi killing
"Intelligence information, says study Arabia's crown prince approved an operation to kill or capture US based journalist inside the Saudi consulate in Istanbul. That report released today could escalate pressure on the bike administration told the kingdom accountable. The killing of Jamal Kashiwagi, who's killing drew bipartisan and international outrage. Osugi, a critic of Crown Prince Mohammed bin Salman's authoritarian consolidation of power was killed in October of 2018.
Monocle 24: The Globalist
Joe Biden speaks to Saudi Arabia's King Salman
"The us president. Joe biden has spoken by phone with king salman of saudi arabia as the white house resets. The relationship between washington and riyadh ties between the two countries have become significantly closer during donald trump's time in office but this has been further complicated by matters following the murder of the journalist. Jamal khashoggi a us report due to be released shortly is expected to implicate the king's son crown prince mohammed bin salman offer more. I'm joined by bill. Law a middle east analyst and editor of arab digest and a regular voice on twenty. Good morning bill your morning. Let's examine straight away. What do we know that was in this. Coal between the us president the saudi king issues that perhaps saudi doesn't really want to talk about. What actually what's interesting about. The call is that the president touched on three issues. One was human rights. Any specifically single Jane elliott loon. The women's rights activist. Who has been released from prison but still has a severe restrictions on her The second is warned. Yemeni americans have made clear that they want this war to end and the third was security reassuring king solomon that america has saudi arabia's back. And of course that is important particularly given the situation with iran and mr biden's desire to return to the jcp away and interestingly as well his secretary of state tony blinken conversation with his counterpart flies. Open fought hand the saudi foreign secretary. He said pretty much the same thing. He didn't mention the. Jane elliott little but he talked about human rights. He talked about yemen and he talked about security. So the question is is these attempts to reassure as well as depress on the fronts. That biden wants action on or is this basically setting things up for this report that will be released and appears to be naming. The king's son magas oman instrumental in the killing of dramatic hollywood v. a everyone waits and most of all i think the saudis holding that brett i think that The in of the relationship between the united states in saudi arabia look. Saudi arabia is a key ally in the middle east for america. I don't know that biden wants to push very very hard in terms of doing down. How hotline as as some have suggested. I do think he wants to see some serious behavioral changes and he's using the issue of human rights as a way of achieving net.
America's First News
Report to blame Saudi Crown Prince for death of journalist Jamal Khashoggi
"With New public details about those behind the death of journalists, Jamal Kashiwagi. Now it implies Saudi Crown Prince Mohammed bin Salman was involved in the murder at the Saudi consulate in Istanbul in 2018. It also comes as President Biden plans his first call to Saudi Arabia, King Salman Former national security adviser John Bolton told Bloomberg News. On top of the killing of two Sugi dynamics in the Middle East have changed. Well. Last night. Axios reported that Biden plans to call the king today that coming before the release the head of the oven intelligence report about the murder of the journalist remark, a show G. What do you know about this report? I don't. I don't. I don't know exactly what report it is And if it's Related anything that I saw when I was in the government. I won't talk about it. But I will say this. This is this is ah, moment of truth. I think for buying if if he wants to have a fundamentally different relationship with Saudi Arabia, I think it's a reflection that he thinks he can have a fundamentally different relationship with Iran. And I think That part of the premises. Incorrect. As long as the Ayatollahs are in tower. Nobody could don's the murder show. Nobody has any doubt that the Saudi government was involved in it. This is a this is a matter of realpolitik. In in that region way need the Saudis and they need us When I was in Moscow, once meeting with President Putin, he just he thought of his real humorous. Subject that we might turn away from the Saudis, and he said to me, Look, if you don't want to sell them weapons, That's fine. I'll sell them weapons. Now. The CIA assessed that NBS personally ordered the killing and a United Nations investigator found in June of 2019. It was inconceivable that NBS was not aware. The killing, of course. Yogi. White House Press secretary Jen Psaki said last week that President Biden is working to re calibrate the American relationship with Saudi Arabia and plans to communicate with King Salman, which is his counterpart instead of his son, the Crown prince. South Dakota House lawmakers have begun impeachment proceedings against the
Democracy Now! Audio
U.S. intelligence report could link Saudi Arabia's crown prince to Khashoggi murder
"Administration's releasing the declassified intelligence report on the two thousand eighteen murder of washington post columnist. Saudi dissident jamal khashoggi. The reports based largely on findings by the cia reuters is reporting. It will assert crown prince. Mohammed bin salman approved and likely order kashogi. She's murder the saudi consulate in istanbul. The white house said wednesday president biden will be speaking with saudi arabia's king salman rather than the crown prince who was always the contact for the trump administration biden. We'll be speaking reportedly with the king about the report.
All Things Considered
US Help Gulf States Agree to Ease Relations With Qatar
"Deal between two important but feuding allies Saudi Arabia and Qatar. Jared Kushner, president Trump's son in law and adviser, was on hand for a signing ceremony in the Saudi kingdom. It marks the end to a three year rift that threatened to undermine U. S strategy in the Gulf region. NPR's Jackie Northam reports. They were warm hugs and handshakes, all while wearing masks as Saudi Arabia is Crown Prince Mohammed bin Salman created Cutter shake Tommen bin Hamad al family ahead of today's signing. Seen belied the deep animosity between the two countries since mid 2017 when Saudi Arabia announced the diplomatic trade and travel blockade against his tiny rich neighbor. Frederick Wary is with the Carnegie Endowment for International Peace. The Saudis wanted to bring contact to its knees. The Saudis made at least a dozen demands of cutter and none of them to my knowledge were, you know fulfilled for asthma. Assad with George Washington University's Elliott School for International Affairs, says the Saudi Crown prince realized it was time to move on, especially with an incoming Biden administration that is promised to get tough with Saudi Arabia, Arabia. Clearly this is Part in parcel of turning the page. They are setting the table, so to speak for better relations with the incoming Bud Administration, But it was the Trump Administration that's been pushing to resolve the spat. Saudi Arabia and Qatar. Our allies in the U. S has a large military base in Qatar. The administration also wants to create a bulwark against Iran. Carnegie's wary doesn't buy it to say that the Gulf is going to be united against Iran that there's going to be this Impenetrable Gulf Sunni bloc now against Iran, because suddenly Qatar has been brought into the fold is just pure fantasy. I mean, the gulf has always been this united in terms of its outreach and policies toward Iran, and many of the issues that started the feud are still there. Hotter still has relations with Iran. Look sad with the Elliott School says it's not a sure thing. Today's deal will stick. The reporting is that the deal almost fell apart on Sunday in the U. S. Had to Jared Kushner personally had to intervene and work the phone lines. I think it's a testimony to have fragile it is even if tenuous, MCs odds, says the deal is a step in the right direction and will be welcomed in D. C. Jackie Northam. NPR news
The Takeaway
Film Maker Discusses New Documentary On Murdered Journalist Jamal Khashoggi
"You're listening to the takeaway. I'm kelly crossley in for ten a vega on october second two thousand eighteen washington post columnist and saudi dissident. Jamal khashoggi walked into the saudi consulate. Instanbul he was there to obtain documents for his upcoming marriage to his fiancee. He would never make it out. Reports of kashogi is murder and the overwhelming evidence that the saudi government including crown prince mohammed bin salman. We're responsible for his murder. Took the world by storm more than two years later. Kashogi murderers have still not been brought to justice and the lives of journalists around the world. Continue to be threatened this year. Forty two journalists and media workers were killed according to the international federation of journalists. The murder of jamal khashoggi and why the repressive saudi regime wanted to silence. Him is the subject of the new documentary. The dissident the latest film from the academy award winning director brian fogel. The film is now in theaters and will be available on demand on january eighth but several streaming services passed on releasing the film and fogel has said the film's criticism of the saudi government. May be why. I spoke with brian about the film. And why jamal khashoggi. Murder continues to capture the attention of the world. He was a washington post journalist. You know of course is history was as a saudi journalists but in the last year of his life he was writing for the washington post so as murder happened. Of course the news stories around the world was he was the washington post journalist. I think that the certainly attributed to the visibility. But i think even more importantly than that was the brazenness of describes some somebody walking into their own consulate seeking wedding papers while they're fiance is waiting outside for them only to never come out again and then for us to find out that he had in fact been murdered dismembered just a horrific situation so i think there were a lot of elements that really catapulted this story to the top of news feeds and then of course you know the kingdom itself and the repression going on within saudi arabia. That at the same time was being heavily marketed and promoted that mohammed bin salman was this great reformer changing saudi arabia opening up saudi arabia allowing human rights
New Yorker Radio Hour
All-virtual G20 summit opens with Saudi Arabia as host
"Tested positive President Trump, Meanwhile, adjoining leaders from some of the world's largest economies for this weekend's G 20 summit, Saudi Arabia hosting this year's event, But NPR's Jackie Northam reports it's being held virtually because of the covert crisis. The G 20 summit was to have been an opportunity for Saudi Crown Prince Mohammed bin Salman to present himself as a world leader. But human rights groups are urging heads of state to boycott the virtual event. Sanjeev Berry was freedom forward, says the Saudi monarchy is trying to use the summit to gloss over its human rights record. And the reality The matter is there's there's no amount of international publicity that is going to help the Saudi monarchy dig itself out of the hole that it's put itself in. Saudi organizer's say there will be serious discussions about the covert pandemic, the environment and the global economy during the virtual summit. Jackie
Mark Levin
Jamal Khashoggi's family sue Saudi Crown Prince in U.S.
"Finally, a federal lawsuit accusing Saudi Crown Prince Mohammed bin Salman of personally ordering the brutal execution in order to silence the high profile government critic. Saudi officials maintain the death was a tragic accident and sentenced eight people to jail. This is Kimberly lease for Peeta.
All Things Considered
Jamal Khashoggi's Fiancee Sues Saudi Crown Prince Over Journalist's Killing
"As Crown Prince and two dozen other Saudi nationals kidnapped, drugged and killed Kasogi at the Saudi consulate in Istanbul two years ago this month. This is the first civil lawsuit in the US regarding cash judges, killing NPR's Jackie Northam reports. The complaint filed in a U. S District court in Washington, alleges that Saudi Arabia is Crown Prince Mohammed bin Salman ordered the killing because he considered Jamal Cashew cheese worked to promote democracy in the Middle East on existential threat. It was filed by dawn, the democracy organization that could shock she started And by her teacher, Jenga is his fiancee. The suit names her Coke. She's widow. It says they were finalizing their civil marriage when he was killed. Jenga spoke by videoconference. Gemma's voice Wass too powerful to straightening and saw they decided they must silence him permanently, Attorney Keys, Harper told the video conference. The lawsuit has two goals. Accountability for cash Augie's murder and obtaining more information documents and recordings from the U. S and Saudi Arabia through Discovery. Harper says U. S courts have jurisdiction for the lawsuit because the trap for cash O G was set by officials at the Saudi Embassy in Washington, D. C. He was informed repeatedly. That he could not obtain a certificate of marriage eligibility. He needed to confirm this civil marriage, miss changes in the US and would have to travel to Saudi Consulate in Istanbul, Turkey, and in this temple as we all know. The defendant abducted and murdered him. The Saudi Embassy did not respond to requests for comment by air time Thie Kingdom did convict eight nationals for cash Augie's murder in a closed trial. Jackie Northam. NPR NEWS Washington