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We're Living In a New Age of Economic Warfare Says Fishman

Wall Street traders paced a rebound in stocks as an oil rally waned after Israel agreed to direct talks with Lebanon, bolstering expectations that a US ceasefire deal will hold. The US and Iran prepared for peace talks in Pakistan after agreeing on a two-week ceasefire, though issues such as Israel's offensive in Lebanon and the opening of Hormuz remain unresolved.  Israeli Prime Minister Benjamin Netanyahu agreed to hold direct talks with Lebanon, with the focus on disarming Hezbollah. President Donald Trump has called him, asking for a scale-back in strikes to ensure the success of negotiations with Iran, NBC reported. Ed Fishman, Director of the Center for Geoeconomics, Council on Foreign Relations joins Bloomberg Businessweek Daily to discuss the economic impact on the globe.

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Bloomberg

Hormuz Traffic Still Blocked as Only Iran-Linked Ships Cross

Ship traffic through the Strait of Hormuz remained blocked Thursday, limited to a handful of Iran-linked ships, another sign that a fragile ceasefire between the US and Iran has yet to improve flows through the world's key energy chokepoint. Just seven vessels, all of which have either called at Iranian ports or were carrying Iranian cargo, were observed making the voyage out of the Persian Gulf on Wednesday and into Thursday morning. Normal transits in both directions are more like 135 a day. Michelle Brouhard, Head of Policy and Geopolitical Risk at Kpler joins to discuss what this means for oil market moving forward.

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Bloomberg

Israel Says Agrees to Direct Talks With Lebanon

Natasha Hall, associate fellow at Chatham House, said the negotiations on the ceasefire in the Iran war are complicated by fundamental issues that have driven conflict in the region for years. Israeli Prime Minister Benjamin Netanyahu says that he has agreed to direct talks with Lebanon.  Stating that "In light of Lebanon's repeated calls to open direct negotiations with Israel, I instructed the Cabinet yesterday to open direct negotiations with Lebanon as soon as possible" The negotiations will focus on disarming Hezbollah and establishing peaceful relations between Israel and Lebanon.

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Bloomberg

Modelo Owner Constellation Gives Softer-Than-Expected Outlook

Constellation Brands Inc. projected slower-than-expected growth for its beer business this year, renewing concern that declines in alcohol consumption have yet to hit their floor.  Organic beer sales, which measure changes in sales volumes, are seen in a range of down 1% to up 1% in the company's current year, Constellation said Wednesday. The range trails analysts' average estimate for a 2.2% increase.  While the guidance represents an improvement from the previous fiscal year, which ended Feb. 28, the lower-than-expected outlook suggests even popular brands such as Modelo and Corona are struggling to sidestep a broader decline in the category.

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Bloomberg

Fragile Ceasefire Tested Before Iran Talks

President Trump says US troops will remain in the Persian Gulf ahead of talks with Iran, while Tehran warns attacks on Lebanon could make negotiations meaningless. Dana Stroul, Director of Research at the Washington Institute and former Deputy Assistant Secretary of Defense for the Middle East, says we're now in a "fog of diplomacy and a fog of war." She joined Bloomberg Open Interest.

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