US President Donald Trump spoke for nearly 20 minutes from the White House, saying the US would hit Iran “extremely hard” in the next two to three weeks, and that he’d strike key infrastructure like electric plants if no deal is reached.

Stocks fell and oil jumped on his comments, with Brent rising 5% as Trump talked about possible escalation and reiterated his call for other nations to step in to fully reopen the Strait of Hormuz.

This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg Daybreak or Bloomberg News Now.

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Fueled by a powerful mix of FOMO and a government drive to accelerate AI adoption, OpenClaw has exploded in popularity across China. But as these agentic systems gain sweeping access to personal data, reports of them “going rogue” are beginning to surface.

On today’s Big Take Asia podcast, host K. Oanh Ha sits down with Bloomberg’s Luz Ding and Bloomberg Opinion’s Catherine Thorbecke to dig into the rapid rise of agentic AI in China, why it has taken hold so quickly and the mounting security concerns pushing users and regulators to reassess the risks.

Read more: There’s Method to China’s OpenClaw Madness

China’s OpenClaw Obsession Is a Risky Gamble on Experimental AI

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A month into the Iran War, the Trump administration continues to send mixed messages about when and how it will end. In addition to threats on electricity plants and oil wells if a deal isn’t reached, the president said he would consider destroying another piece of critical infrastructure: Iran’s water desalination plants.

On today’s Big Take podcast, host Sarah Holder talks to Bloomberg defense policy and intelligence reporter Peter Martin about the Middle East’s reliance on desalination, the potential humanitarian crisis that targeting the plants could spark and how that action could fly in the face of international law.

Read more:

• How the Iran War Is Exposing the Risks to Gulf Water Supply
• US Expands Threats to Iran Energy, Water as It Hails Talks

Hosted by Sarah Holder; Produced by David Fox; Reported by Peter Martin; Edited by Paddy Hirsch.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

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SpaceX is preparing for liftoff. After months of speculation, the company could file for a historic IPO as early as this week — seeking $75 billion in funding that would push the company’s value to $1.75 trillion.

On today’s Big Take podcast, Bloomberg Tech’s Ed Ludlow joins David Gura to break down the timing of the mega-offering. They discuss the challenges SpaceX could face taking its Mars-focused mission public, how the move could push Elon Musk’s net worth past the $1 trillion mark and what this all means for everyday investors looking to get in on the action.

Read more: Is SpaceX Worth $1.75 Trillion? Key Questions for Musk’s Big IPO

Hosted by David Gura; Produced by Julia Press; Reported by Ed Ludlow; Edited by Tracey Samuelson and Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

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BTS is back. After a near four-year hiatus, the K-pop icons returned with a historic Netflix event – the platform’s first concert live streamed from Asia.

On today's Big Take Asia podcast, host K. Oanh Ha joins Bloomberg’s Sohee Kim and Lucas Shaw to discuss Netflix’s power move and how global streamers are fighting for dominance in the competitive Asian market.

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Leaders in Washington and Tehran are on the clock, with about a month to wrap up the Iran war before it does greater damage to the global economy and their own political fates, according to retired Admiral James Stavridis.

On today’s Big Take podcast with David Gura, Adm. Stavridis, the former head of US Southern Command and Supreme Allied Commander of NATO, outlines how the US troops heading to the region could help bring about a diplomatic resolution – or raise the risk of a longer conflict.

Read more:

• Taking Kharg Island May Be a Big Risk for Little Reward
• Three Targets for US Boots on the Ground in Iran
• Iran Can Turn the Persian Gulf Into a Minefield

Hosted by David Gura; Produced by David Fox; Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate, Tracey Samuelson and Julia Press; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

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Just when it seemed that Netflix had clinched the deal to purchase Warner Bros. Discovery, Paramount Skydance Corp. swooped in with a $110 billion counter-offer that was ultimately too good for the studio to pass up.

On today’s Big Take podcast, Bloomberg’s Lucas Shaw and Chris Palmeri take host Sarah Holder inside the behind-the-scenes negotiations that secured the deal for Paramount, how Netflix co-CEO Ted Sarandos explained his company’s decision to walk away – and the twists and turns that could still be coming in this story as two mega-studios become one.

Read more: What the Paramount-Warner Merger Means for Hollywood

David Ellison Used Political Ties, Deep Pockets to Buy Warner Bros.Netflix’s Co-CEO Explains Why He Quit the Warner Bros. Fight

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Two decades ago, a federal prosecutor in Florida spent two years investigating Jeffrey Epstein and urged her superiors to charge him. Her frustrations mounted as her boss, US Attorney Alex Acosta, pursued a now-infamous plea deal that allowed Epstein to serve just 13 months, much of it on work release.

On today’s Big Take podcast, Bloomberg legal reporter David Voreacos joins host Sarah Holder to examine emails and evidence recently released by the Justice Department. They reveal Marie Villafaña’s exhaustive efforts to hold Epstein accountable — and how, despite years of credible evidence, he managed to slip through the cracks.

Read more: Sex-Crimes Prosecutor's Repeated Pleas for Epstein's Arrest Were Denied

Hosted by Sarah Holder; Produced by Julia Press; Reported by David Voreacos; Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

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