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Trump gives Iran another ultimatum
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Bloomberg Morning Briefing Americas
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Good morning. Donald Trump gives Iran its latest ultimatum. The World Cup is a non-event for most Americans. And Madonna gives Grindr the street cred it’s been looking for. Listen to the day’s top stories. — Angela Cullen
Donald Trump told Fox News the US will launch more attacks on Iran unless it accepts an interim peace deal. His remarks followed another night of clashes between the two countries. Tehran told ships with permits to cross the Strait of Hormuz to await guidance, saying it’s closed until further notice. Traders are opting to buy the dip in stocks, helping S&P 500 futures recover from a five-week low ahead of SpaceX’s expected pricing today. SpaceX has convinced more than enough investors to pour money into its speculative growth story, but James Chanos isn’t one of them. “This is really a hopes-and-dreams IPO,” the veteran short seller said. The offering is poised to generate billions of dollars for the fortunate few who got in early, and reset expectations for every major IPO that follows. While Elon Musk limbers up for the debut, he’s also been keeping up a politically-charged side hustle: fomenting far-right anger in the UK. First among equals. The European Central Bank is expected to raise interest rates today for the first time since 2023, by a quarter-point to 2.25%. In so doing, it would become the first major central bank to hike in response to the Iran conflict. The bank’s resolve to uphold its inflation-quashing credibility risks a damaging error, economists have warned. Meta has completed an operational split from Manus and halted data sharing between the two companies, a pivotal step toward unwinding a $2 billion acquisition opposed by Beijing. Staff have been told to migrate existing Manus projects onto Meta’s systems and not to start new work on the AI platform, according to an internal memo viewed by Bloomberg. Deep Dive: Fever Pitch, or Not?
A statue depicting a World Cup player toppled in Mexico City.
Photographer: Alex Vasquez/Bloomberg
The World Cup kicks off in Mexico City today, when fans will descend on Azteca Stadium for the opening ceremony and first match that will see El Tri take on South Africa. Expect heightened security, and protests.
The Big Take
Illustration: Michelle Rohn
Nike brought Elliott Hill out of retirement to spark a turnaround. Twenty months and a more than 45% stock plunge later, investors are realizing a rebound will likely take years. Opinion
Shoppers on the streets of San Francisco.
Photographer: David Paul Morris/Bloomberg
Markets may be a bit too relaxed about inflation, John Authers and Richard Abbey write. If it threatens the US economy, it does so through the small businesses that make up its backbone, and that’s being reflected in deteriorating sentiment. More Opinions Play Alphadots!Our daily word puzzle with a plot twist.
Today’s clue is: Duty-free? Before You Go
Madonna performs at a Grindr event in Times Square in New York.
Photographer: Emma Rose Milligan/Bloomberg
For years, many gay men were embarrassed to admit they used Grindr. Now it’s shedding the stigma of being a hookup app, with a little help from Madonna and a CEO that wants the company to become the “global gayborhood in your pocket.” A Few More
via Bloomberg
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