Australia Breaking News

- President Donald Trump threatened Iran with civilizational destruction as the US attacked military targets on the country's key oil export hub, ramping up pressure on Tehran to reopen the Strait of Hormuz by his Tuesday deadline or face massive strikes on critical infrastructure. Iran halted participation in ceasefire talks in response to Trump's social media post, according to a person familiar with the matter who asked not to be identified discussing private deliberations. Those discussions have been conducted through third-party channels. Mediators were scrambling to resuscitate negotiations ahead of the deadline, the person said. Jen Gavito, Senior Advisor with the Cohen Group/Former-Acting Principal Deputy Assistant Secretary of State for Near Eastern Affairs under President Biden joins Balance of Power to discuss.

"The job market is basically stable but not great," Federal Reserve Bank of Chicago President Austan Goolsbee says during remarks at the Detroit Economic Club. Goolsbee also says the rise in oil prices may drive prices up in a stagflationary way.

Private credit is under pressure, but is it a crisis or an opportunity? Centerbridge Partners Co-Founder and Managing Principal Jeff Aronson joins Bloomberg Open Interest to break down why rapid growth has weakened underwriting, why risks aren't systemic, and why experienced investors may see this moment as the perfect time to lean in as others pull back.

Persistence separates great leaders from everyone else according to Matt McKnight, CEO of Perimeter. He joined Bloomberg Open Interest to talk about why the most impactful leaders choose problems that seem unsolvable and stay with them anyway. He says you will hear no, that will not work or we have tried that before, but if you understand your domain, think from first principles, and bring others along, you can change entire industries.

Miller Tabak Chief Market Strategist Matt Maley is warning that private credit risks are being underestimated. It's not about size it's about what happens when liquidity dries up in an already expensive market. He says even a modest credit event could shake confidence fast, and concerns are growing that bad underwriting may be underneath it all.

Intel is joining Elon Musk's Terafab project, a chip manufacturing effort for Tesla, SpaceX and xAI. Intel will help Musk's companies "refactor" the technology in a chip factory, according to a post on X. Ed Ludlow reports on "Bloomberg Open Interest."

Broadcom is developing chips using Google's tensor processing units, or TPUs, offering an alternative to technology from Nvidia. Mandeep Singh has more on "Bloomberg Open Interest."

War tensions ripple through tech as stocks slide and AI spending surges but helium is emerging as a hidden risk. Ann Milletti, Allspring Global Head of Equity Investments, joined Bloomberg Open Interest to explain how, with roughly 30% of global supply tied to the Middle East, the Iran conflict could disrupt semiconductor production, raise costs, and reshape the future of innovation.

New York Fed President John Williams says monetary policy is "really well positioned" for the Fed to "wait and see" on the economic consequences of war in Iran. Williams also comments on his view of the US economy and labor market and the issue of continuity at the Federal Open Market Committee. He speaks with Michael McKee on "Bloomberg Surveillance."

New York Fed President John Williams says monetary policy is "really well positioned" for the Fed to "wait and see" on the economic consequences of war in Iran. Williams also comments on the state of the US economy with Michael McKee on "Bloomberg Surveillance."

New York Fed President John Williams discusses the impact of the Iran war on US inflation, saying he is "looking at an inflation rate for the year as a whole of something like 2.75%," but that can be impacted by energy prices. He speaks with Michael McKee on "Bloomberg Surveillance."

Kate Moore, CIO at Citi Wealth, says the firm is taking a barbell strategy to market uncertainty around the Iran war.