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Israel says it killed Iran’s security chief

Bloomberg Morning Briefing Americas
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Good morning. Israel claimed it killed another top Iranian official, as the war shows no sign of abating. Donald Trump threatened to strike Iran's key oil hub again and the UAE was forced to close its air space for a couple of hours. Listen to the day's top stories.

— Marcus Wright

Market Snapshot
S&P 500 Futures6,743.25-0.2%
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Bloomberg Dollar Spot Index1,209.05-0.0%
Market data as of 06:56 AM ET. Data is subject to provider delays.

Israel said it killed Iran's security chief Ali Larijani in an overnight strike, intensifying the region-wide war which shows no sign of abating. Donald Trump reiterated his appeals for other nations to help secure the Strait of Hormuz, as he threatened to expand strikes on Iran's Kharg Island to target its oil infrastructure. And the UAE was forced to close its airspace for about two hours overnight as its defenses intercepted drones and missiles.

Markets are having another jittery day, with oil again climbing on the Iranian strikes and Hormuz worries, and US futures pointing to a drop on Wall Street this morning. Prices for refined products such as jet fuel and diesel oil are even more vulnerable to the Iran crisis than crude oil, according to Goldman Sachs analysts. That means higher prices at the pump: US diesel rose above $5 a gallon for the first time since 2022, according to the AAA.

Trump's request to delay a planned trip to China looks like the latest example in a pattern of postponing or calling off high-profile meetings that he decides don't suit his interests. But for Xi Jinping, it's probably a welcome development anyway. China has been irked by what it seems as insufficient US preparation ahead of the planned summit meeting.

Parts of the financial industry are pushing back hard against new consumer protections for "zombie mortgages"—old second mortgages that borrowers haven't heard from lenders about in years. A Bloomberg News investigation last year found that more than 600,000 of the loans taken out before the 2008 financial crisis remain outstanding. Debt collectors buy them for pennies on the dollar and then demand homeowners pay bills that often include years of back interest.

Deep Dive: Trump's Legal Challenges

Alina Habba, newly appointed interim US attorney for New Jersey, speaks to members of the media outside the West Wing of the White House in Washington, DC, US, on Monday, March 24, 2025. US President Donald Trump said Habba, who represented Trump in several high-profile lawsuits before his 2024 election victory, will become interim US Attorney for New Jersey, starting the new role immediately. Photographer: Samuel Corum/Sipa/Bloomberg
Alina Habba. Photographer: Samuel Corum/Sipa/Bloomberg

A federal judge ordered the trio of lawyers running the US Attorney's Office in New Jersey to testify in court about the controversial leadership structure after their appointment was ruled illegal.

  • The office has been in turmoil since a different judge ruled last week that the Trump administration illegally appointed the triumvirate to succeed Alina Habba after her resignation as the top federal prosecutor in New Jersey.
  • It's just the latest example of the legal challenges facing Trump with his appointment of loyalists as US attorneys. In several districts, federal judges have ruled that the administration failed to follow the law.
  • Even some defendants in criminal cases have challenged the ability of prosecutors to proceed against them, arguing that they don't have the legal authority.


The Big Take

Illustration: George Wylesol/Bloomberg

Wall Street has developed a thriving ecosystem of trading strategies to help wealthy Americans deal with taxable gains after years of rising markets. More than $1 trillion is now invested across a multitude of tax-optimization approaches that use everything from hedge funds and ETFs to individual accounts.

Opinion

A woman holds " I voted" stickers outside a polling station at Allegiant Stadium in Las Vegas, Nevada, on Election Day, November 5, 2024. (Photo by Frederic J. Brown / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images) Photographer: FREDERIC J. BROWN/AFP
Photographer: Frederic J. Brown/AFP/Getty Images

Your average Democratic voter isn't a left winger, David Drucker writes. That's why some centrist groups are working to convince the party to nominate a mainstream Democrat with broad appeal for the 2028 election.

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Before You Go

Blank St coffee on 6th Ave at West 10th St on March 8, 2026 in New York, NY. Credit: Rebecca Smeyne for Bloomberg News.
A new Blank Street store format, roughly three times bigger than its current concept. Photographer: Rebecca Smeyne/Bloomberg

Blank Street is shedding its original formula of selling cheap, to-go coffee at tiny, no-frills stores. It wants its outlets to become more of a hangout—like Starbucks—to appeal to its Gen Z customers, selfie mirrors, flattering lighting and mint green ceilings included.

A Couple More

What makes a leader successful? Join Bloomberg Television award-winning anchor and editor-at-large Francine Lacqua as she speaks with CEOs and other industry leaders to discover what drives them, their definition of success and how they are shaping their companies amid a fast-changing world. Listen or watch Leaders with Lacqua wherever you get your podcasts.

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