October 3, 2026: Bessent Criticizes A.I. Alarmists, More Details on FlyDubai Suspect, More

0:00 News when you want it with Bloomberg News Now, I'm Dan Schwartzman.

0:04 U.S.

0:05 Treasury Secretary Scott Besson criticized those who have been warning about existential risks posed by artificial intelligence technology as alarmist and unhelpful, calling on the industry to police itself and produce solutions. Besson spoke to Axios in an interview published on Saturday.

0:20 I believe that we have to be prepared for every occasion. But on the other side, you know, I think that kind of this alarmism without solutions by some of the AI community, that's not leadership.

0:37 That's U.S. Treasury Secretary Scott Besson speaking to Axios, courtesy of YouTube. There is new information now about the co-pilot of a fly Dubai plane who reportedly stabbed his captain and tried to crash the flight bound for Tel Aviv, Israel, with over 170 passengers and crew members on board. Bloomberg's Monica Ricks with details.

0:54 Investigators with the UAE are now calling this a terrorist operation and say the Omani national named Hamam al-Hamami had been previously banned from flying in Oman, over concerns about his radical views. Despite the ban, Fly Dubai still hired him. Investigators are still working to determine the facts of the incident, but interviews with a test pilot and a review of the plane's design features show the aircraft and its passengers likely survived thanks to layers of redundancy in aviation and perhaps a little luck. The plane eventually touched down in Saudi Arabia with some damage. Monica Ricks, Bloomberg Radio.

1:30 The Justice Department says it will not reopen a criminal investigation into former Federal Reserve Chair Jerome Powell for cost overruns related to the central bank's $ 2. 4 billion building renovation. A report released this week by the Fed's Office of Inspector General found no evidence of criminal wrongdoing by Powell connected to the project, despite an initial $ 1. 3 billion budget in 2020. Attorney General Todd Blanch spoke exclusively to Bloomberg.

1:55 Well, I think it's pretty clear he did not act appropriately as far as oversight, and that's what the inspector general concluded. You know, not making mistakes and not having any sort of oversight over the folks doing billion-dollar projects isn't necessarily a crime.

2:08 You can hear our full conversation with the Attorney General Sunday on Bloomberg This Weekend, Bloomberg Radio, Bloomberg Television, and the Bloomberg Business app. President Trump campaigned in Alabama Friday, and today he was in Ohio, as more polling indicates Americans are deeply unhappy with how he's handling the economy.

2:26 Bloomberg News senior White House correspondent Josh Wingrove is traveling with the president and says many Republicans are keeping their distance.

2:33 All of these are states that Republicans would really like not to be worrying about. And so the question is, sort of, is this just about shoring up the base and keeping the president in districts that, frankly, you know, want him? And raises the question that some candidates, of course, may not want him there. Certainly Senate candidates like Susan Collins, for instance, have been distancing themselves from both the president and his administration colleagues. or are they truly playing defense?

2:56 That's Bloomberg News senior White House correspondent Josh Wingrove. Links between Paramount, Skydance, and Oracle, through billionaire Larry Ellison, are stirring angst on Wall Street as both companies take on significant debt. Investors are beginning to treat the two companies' debt as intertwined, and if Oracle's stock price drops, it could impact the Ellison family's ability to support Paramount, which has taken on $ 52 billion of additional debt to help pay for its acquisition of Warner Bros. Discovery. Just a year ago, Oracle's shares soared to a record amid surging AI optimism, briefly making Ellison the world's richest person. Since then, though, his fortune has declined by almost $ 200 billion, more than

3:34 any other person on the globe. That's according to the Bloomberg Billionaires Index. Around 10,000 more U.S. troops are headed to the Middle East, as Iran's leaders are said to be feeling the strain of seven months of war. The country's inflation is at almost 90 percent, while its crude exports are still being choked off by a U.S. blockade.

3:52 Fuel prices here in the U.S. could, though, ease up a bit soon after President Trump says Europe agreed to release diesel oil supplies.

3:58 Very shortly, as soon as Iran ends, which won't be long, not going to be long, you're going.

4:03 To have oil go down to the price it was before, maybe even lower than I got it at the beginning. Diesel recently touched record highs, and the average price is currently at $ 6. 36 a gallon. But G7 nations plan to release as much as 100 million barrels of emergency oil and diesel stocks over the next four months to offer short-term relief. Electric vehicles are regaining some popularity as gas prices continue to rise, with Tesla and Rivian posting better-than-expected EV sales for the third quarter, while executives at Hyundai and Ford say dealers are asking for more battery-powered inventory to sell as customers come back. Last year, sales dropped due to the cancellation of generous U.S. tax credits for

4:42 EV buyers. The divisional round of the Major League Baseball playoffs getting underway today. In Cleveland, the Guardians get shut out by the White Sox 3-0. Meanwhile, in Los Angeles, the Dodgers get past the Braves 5-3. That's news when you want it with Bloomberg News Now. I'm Dan Schwartzman and this is Bloomberg.