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President Donald Trump ramped up his threats ahead of a deadline he’s imposed for Iran to re-open the Strait of Hormuz or face further attacks on civilian infrastructure, while Tehran rejected a ceasefire proposal.
“The entire country can be taken out in one night, and that night might be tomorrow night,” Trump said in a press conference Monday at the White House, in an apparent reference to his ultimatum to Iran that expires at 8 p.m. on Tuesday.
“Every bridge in Iran will be decimated, by 12 o’clock tomorrow night,” Trump said. “Every power plant in Iran will be out of business, burning, exploding and never to be used again,” he added, noting that “it’ll happen over a period of four hours, if we wanted to. We don’t want that to happen.”
Trump told reporters earlier on Monday that it was “highly unlikely” that he’d move the deadline again. Iran, meanwhile, reportedly passed to mediator Pakistan a rejection of a ceasefire proposal.
The regime demanded a permanent end to the war, lifting of sanctions, and reconstruction efforts, in addition to protocol for safe passage through Hormuz, according to the state-run Islamic Republic News Agency. The rejection is the latest blow to efforts to end the month-long war that has triggered a global energy crisis.
US allies are reportedly pressing for a last-minute deal with Iran, as Trump extended his deadline to Tuesday for Tehran to reopen the vital waterway. Trump during his press conference noted that free traffic of oil in Hormuz must be part of any deal to end the war.
Today's show features:
Dan Williams, Bloomberg News Middle East Reporter
Alex Vatanka, Senior Fellow at the Middle East Institute
Will Kubzansky, Bloomberg News Refined Products Reporter
Drive to the Close with Nanette Abuhoff Jacobson, Global Investment Strategist at Hartford Funds
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Capitalism For All: Inclusive Economics and the Future-Proofing of America by John Hope Bryant presents a revolutionary framework for rebuilding American prosperity through economic inclusion rather than division. As the founder and CEO of Operation HOPE, America's first non-profit social investment banking organization, and a former vice-chairman of the President's Advisory Council on Financial Literacy, Bryant brings decades of frontline experience empowering underserved communities. This book addresses America's growing economic inequality and social fragmentation by demonstrating how inclusive capitalism – not exclusionary policies – can restore the middle class, revitalize the American Dream, and maintain our position as the world's leading economy.

John Hope Bryant joins Bloomberg Businessweek to discuss how expanding rather than contracting our middle class strengthens national security and economic competitiveness and how inclusive economics positions America as a beacon of opportunity and strengthens our international influence.
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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
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The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Attorney General Pam Bondi is leaving her post as head of the US Justice Department, ending a tumultuous tenure as the nation’s top law enforcement official after some high-profile stumbling blocks in her efforts to carry out President Donald Trump’s agenda.

“We love Pam, and she will be transitioning to a much needed and important new job in the private sector, to be announced at a date in the near future, and our Deputy Attorney General, and a very talented and respected Legal Mind, Todd Blanche, will step in to serve as Acting Attorney General,” Trump said in a post on Truth Social.

In choosing Blanche to serve as acting attorney general, Trump has elevated another one of his former defense lawyers to be the nation’s chief law enforcement officer.
Blanche served as Trump’s defense attorney in criminal cases relating to the 2020 election, his handling of classified documents and alleged hush-money payments.

Blanche can serve in the acting role for 210 days under a federal law for filling vacancies while the Senate considers whoever Trump nominates to be confirmed as attorney general.
The president has discussed Environmental Protection Agency Administrator Lee Zeldin as a potential replacement for Bondi, according to people familiar with the matter.

Today's show features:
Jeff Mason Bloomberg News Washington and White House Correspondent & Matthew Seligman, Grayhawk Law Founder
Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist and Robert Tipp, PGIM Fixed Income Managing Director, Chief Investment Strategist, and Head of Global Bonds
Olivia Fishlow, Bloomberg News Leveraged Finance Reporter and James Crombie, Bloomberg News Senior Editor for Credit on latest in private credit sector
Jessica Rosenworcel, Executive Director of the MIT Media Lab and former Chair of the FCC
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Firms lobby public institutions even when associations they are members of are lobbying those same institutions. This is what we conceptualize as ‘parallel lobbying’. Firms engage in parallel lobbying to monitor associations they are members of, reinforce the message delivered by the associations, provide additional or nuanced information that goes beyond the lowest common denominator, or even to break ranks from the collective position and signal a different message to the one provided by the association. Regardless of what the rationale behind these parallel meetings is, this article intends to bring new light into this phenomenon by examining the extent to which parallel lobbying occurs at the EU level and, more importantly, unveiling what firm – and association-level characteristics explain why firms exercise parallel lobbying.

Angel Saz, Professor at Ramon Lulull University and Director of EsadeGeo – Centre for Global Economy and Geopolitics, a leading B-school in Spain, discusses his work in parallel lobbying and how it is playing out in the world of global business. He speaks with Bloomberg's Carol Massar, Tim Stenovec, and Bloomberg Businessweek Senior Editor Dimitra Kessenide
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