Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Democratic Socialist Angie Nixon stormed to a surprise win in Florida’s US Senate primary, while Republican Representative Byron Donalds, backed by a $100 million war chest and President Donald Trump’s endorsement, cruised to victory in his gubernatorial primary. Nixon, a Black labor and political organizer from Jacksonville who has been a state lawmaker since 2020, defeated Alex Vindman by more than 10 percentage points, upending pre-election polling. Vindman, who rose to notoriety in Trump’s first administration by being a key witness in his first impeachment trial, had outraised Nixon by 16-to-1. Meantime, the race to replace two-term Governor Ron DeSantis will be fought between Donalds and David Jolly, a former Republican-turned-moderate Democrat. With registered Republicans outnumbering Democrats by more than 1.5 million people in Florida, Jolly will have to appeal to independent voters and hope that some Republicans stay home to deliver an upset.
2) The Trump administration delayed 50% tariffs on billions of dollars of Canadian products for three days, saying the two sides had reached a tentative agreement to resolve a broader trade dispute that had plunged relations to a fresh low. President Trump announced the decision less than two hours before the tariffs were set to take effect. A White House proclamation later said the duties were halted after Canada “expressed a commitment to remove the discriminations” on US autos, dairy and alcohol. And the US Trade Representative’s office said the deal includes “comprehensive market access for all American goods, economic security commitments, digital trade alignment” and other factors, without giving specifics.
3) President Trump insisted Tuesday that there were no talks ongoing with Iran, leaving the simmering conflict in the Middle East and control of the Strait of Hormuz stuck in limbo. The memorandum of understanding that the US and Iran signed in June in an effort to buy time to negotiate a lasting peace deal — as repeatedly violated as it had been during that 60-day window — has expired. There are no plans to extend it, leaving the status of Hormuz unresolved, with little traffic and Washington and Tehran still at odds over how the waterway should be managed.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump said he won’t try to revive a stalled truce with Iran, leaving the simmering conflict in the Middle East and a tussle for control of the Strait of Hormuz stuck in limbo. A memorandum of understanding the US and Iran signed in June that gave them a 60-day window to negotiate a lasting peace deal technically expired Monday, and when Trump was asked if he would seek an extension, he replied: “No.” The ceasefire had been repeatedly violated in any event, with intermittent clashes continuing, and both sides had declared it defunct. Brent crude climbed Tuesday - by its highest level in more than three weeks - as prospects dimmed for a swift reopening of Hormuz, through which a fifth of the world’s oil and gas transited before the war. Trump is demanding that free passage through the waterway be restored, while Iran said it will govern traffic in conjunction with Oman.
2) Jared Kushner assured Prime Minister Benjamin Netanyahu that the Israeli army won’t be compelled to withdraw from Gaza until Hamas disarms, an official with knowledge of the talks said, a stance that will dim hopes for a Gaza peace deal anytime soon. Kushner met with Netanyahu in Jerusalem on Monday, a day after holding talks with a Hamas leader in Egypt. The US and Israel agreed there would be no Israel Defense Forces redeployment from Gaza until Hamas is fully disarmed and all of Gaza is demilitarized, according to the Board of Peace official, who asked not to be identified discussing private deliberations. Those conditions are likely to be rejected by Hamas, which has insisted that Israel withdraw from Gaza before it gives up its weapons.
3) Chinese leader Xi Jinping will forgo a stop in New York to address the UN General Assembly during a trip to the US next month to meet President Donald Trump, Politico reported. Politico cited four people familiar with the matter whom it didn’t identify. Xi plans to visit the US for three days, meeting Trump on Sept. 24, one of the people said. There’d been speculation that Xi would join other world leaders at the UN meeting as part of his US visit. Trump invited Xi to visit during his trip to Beijing in May. The two sides used their spring summit to steady ties that had deteriorated over trade, tech, Taiwan and other issues.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Fighting between Israel and Iran-backed Hezbollah flared in Lebanon over the weekend, the latest setback in efforts to end parallel wars in the Middle East that have dragged on for almost six months and disrupted global markets.Israel’s military said Sunday that it killed Abu Hassan Alaa, a senior Hezbollah commander, in southern Lebanon a day earlier. Eleven people died in the Israeli strikes, which Prime Minister Benjamin Netanyahu said were in retaliation for an attack by the militant group that seriously injured three soldiers.
2) President Donald Trump told the Pentagon to “substantially reduce” joint military exercises with South Korea and indicated his decision to do so was driven by frustration the longtime US ally hadn’t provided more support for his war with Iran.
3) Hayden Panettiere, known for her roles on “Heroes” and in “Scream 4” and “Scream 6,” has died. Her rep confirmed her death to ABC News. A cause of death was not immediately known. “It is with profound sadness that we share the tragic passing of our beloved Hayden. She was an incredible light and a force of nature who brought immeasurable love and joy to all who knew her — and to the millions who watched her onscreen,” her rep told ABC.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to S housing data, along with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to Europe inflation and PMI data.
In Asia – a look ahead to why the persistent weakness of the yen is a troubling issue for Japan’s policymakers.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US will soon announce unprecedented economic measures against Iran, Treasury Secretary Scott Bessent said, intensifying the Trump administration’s effort to force Tehran’s capitulation after almost six months of war.
2) The Trump administration is imposing tariffs of as much as 100% on imported drones and their components, escalating efforts to reduce US reliance on foreign suppliers and potentially accelerating a decoupling of drone supply chains with China.
3) OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, according to people familiar with the matter, roughly doubling its run rate from the end of 2025 and bolstering the company’s plans for a Wall Street debut.
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