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Isa Soares Tonight
Fears of Drawn-Out War Between U.S. and Iran Rising; Oil and Gas Prices Surge Amid U.S.-Iran Deadlock; Iran's Supreme Leader Says Foreign Actors Belong in the Depths of the Persian Gulf. New Attacks Strain Israel- Lebanon Ceasefire; U.K. Terrorism Threat Level Raised to "Severe"; Musk Returns to the Stand in his Lawsuit Against OpenAI; King Charles and Queen Camilla Wrapping Up U.S. Trip; LIV Golf's Financial Woes. Aired 2-3p ET
Aired April 30, 2026 - 14:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[14:00:00]
ISA SOARES, HOST, ISA SOARES TONIGHT: Hello, and a very warm welcome, everyone, I'm Isa Soares. Tonight, fears of a drawn-out war between the
U.S. and Iran are rising. Right along with them are oil as well as gas prices, putting an even tighter squeeze, of course, on the global economy.
Both oil and gas soared to their highest levels in four years today, and the economic impact of the standoff stretches far beyond energy as we've
been telling you. More on that in just a moment. Meantime, there are no signs of a breakthrough to that deadlock, a defiant message purportedly
from Iran's supreme leader today warned of, quote, "foreign actors belong in the depths of the Persian Gulf."
And as U.S. President Donald Trump prepares for a long-term blockade of Iranian ports, sources tell CNN, Pentagon officials will brief him today
about new military options for Iran. So, let's get more on all these developments for you.
Our international diplomatic editor Nic Robertson is in Islamabad for us. First, I want to go to Kevin Liptak from the White House. So, Kevin, just
give us a sense of the thinking then from the President here, because sources have been telling us that the President wants to keep the blockade
going, of course.
But just 24 hours ago, you and I were talking about this, and we heard Secretary Hegseth talking about how costly this was. What do you -- what
are you hearing in terms of the thinking of the -- and the strategy here?
KEVIN LIPTAK, CNN WHITE HOUSE REPORTER: Right, and I think the strategy here could be boiled down to inflicting as much economic pain on Iran as
possible. That seems to be the President's desire as he talks about extending this blockade of Iranian ports.
He's tasked his team with preparing for a prolonged blockade of the Strait of Hormuz. And when you talk to administration officials, they say that it
is their belief that Iran's economy will collapse in a matter of days or weeks if this blockade continues.
And as all of that unsold oil sits in the energy infrastructure and, in their view, causes it to be destroyed. And so, that seems to be where
President Trump's mind is at the moment. You heard him talking a little bit about that in the Oval Office yesterday, talking about the success of the
blockade.
But it is evident that this has some major risks for himself as well. You know, as the volatility persists in energy markets, as the price of gas
rises in the United States, and as the war goes on, remember, the President once said that it would not last any longer than six weeks. And here we are
--
SOARES: Yes --
LIPTAK: Now in the eighth week, an enormously unpopular war among the American public. Now, this briefing that he's having today from Pentagon
officials, I think does indicate that the options remain on the table for resuming the bombing campaign which is on hold amid that ceasefire.
Remember, the ceasefire is open-ended. The President has suggested he's in no rush to get a deal done by the Iranians. At the same time, he has
appeared reluctant to begin that bombing campaign again.
I think with the knowledge that doing so would invite retaliation from the Iranians, potentially on the gulf states, causing even more volatility in
the energy markets. And so, as of now, it doesn't seem precisely clear where the President is headed.
And as you say, the costs are rising, that Pentagon official telling Congress yesterday that the U.S. has already spent $25 billion on the war.
Our sources say that that's actually a low-ball estimate, that it doesn't actually take into account the cost it will take to rebuild some of the
American military installations that were damaged in the early weeks of this conflict.
And so, a lot of costs that we're talking about, a lot of risks, I think for President Trump. But at least, when you listen to him in public, the
sense that he isn't necessarily in a rush to sign off on a deal that he doesn't think is a good one. What we haven't necessarily heard is what
exactly the state of the diplomacy is at this point --
SOARES: Yes --
LIPTAK: The President has rejected a deal from Iran in which they would deal with the Strait of Hormuz, and then put off for later questions about
the nuclear program. The President seems very intent on --
SOARES: Yes --
LIPTAK: Getting those nuclear program questions resolved, how that all gets worked out remains unclear at this point.
SOARES: Let's talk then about the state of that diplomacy with our -- with our Nic Robertson, who is in Islamabad. Because, Nic, as you heard there
from Kevin, we are where we were right over a week ago on a blockade, on a blockade.
[14:05:00]
And like Kevin was saying, the economic weight, of course, of this stalemate is getting heavier by the day. So, diplomatically, Nic, where are
we on that revised plan from Iran that you and I were talking about, what? Twenty-four hours ago, or so.
NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Yes, and it's still in the ether somewhere, and it's not quite clear if it's going to land today
or land tomorrow or when it may land.
And I think if you listen to the public rhetoric that's coming from Iran at the moment, both sides are talking about a blockade, both sides are talking
about leveling pain. On the other, both sides seem to think that the pain they can level will endure the most.
The President of Iran has said a blockade is not going to work. The speaker of the house of parliament, the main negotiator, has said that, just look,
you know, blocking the exit to the Strait of Hormuz for us, stopping our oil getting out isn't blowing up our oil wells.
We can do this for a long time. And by the way, while it hasn't blown up our oil wells, the price of oil is going up, $120, I think was a quote in
his tweet on X. We've also heard pushback on the military front.
If the U.S. were to consider, and this seemed to be floated at one point, a sort of short range of strikes on Iran, the commander of the IRGC, as aero
force said, look, if the United States just gives us limited strikes, we'll go for maximum sustained strikes.
And I think what the Iranians were talking about a week and a half ago was exactly the gulf states they would target. And that does fall in line with
this statement that purports to be from the supreme leader, Mojtaba Khamenei.
It's not clear if it is, but in that, he says they'll be sending American ships to the bottom of the Persian Gulf, in that, he says it's now obvious
to the gulf states that having U.S. bases doesn't make you safe and has gone back. And this is sort of where I start to wonder if this is turning
into a real stalemate here. He said --
SOARES: Yes --
ROBERTSON: There will be a new plan, a new management of the Strait of Hormuz that would be of economic benefit to the people of Iran. And that's
an absolute no-go, not just with the White House, but I think all around the world.
So, it's not clear when that offer is going to come or if this is just all public rhetoric for internal consumption. It sounds pretty joined up and
sounds pretty hardened.
SOARES: It does indeed. It is the question really at this moment, who is going to blink first? It really hasn't changed from last week. Nic
Robertson and Kevin Liptak, thank you to you both. Well, let's look really at the pressures that we are seeing in the oil market.
CNN business and politics correspondent Vanessa Yurkevich is with us from New York. So, Vanessa, good to see you. You heard there, Kevin and Nic
really painting a picture that doesn't -- hasn't really moved -- doesn't seem like diplomatically we're going anywhere.
And we are continuing to see those oil prices four-year high. I was looking at Brent crude is up almost 50 percent when compared to when the war
started, right? And we don't even have a diplomatic timeline. So, what is the sense that you're hearing, I know Goldman Sachs has some really bleak
numbers.
VANESSA YURKEVICH, CNN BUSINESS & POLITICS CORRESPONDENT: Yes, well, investors I've been speaking with believe that we are in this for the long
term. They do not see the two sides negotiating. They believe that there's potentially escalation on the horizon.
And there's no really other place for oil prices to go, but up, because of essentially that closure of the Strait of Hormuz. So, you see -- well, you
see markets up right now here in the United States, but you have oil markets which have come down ever so slightly.
Brent crude trading at $113 a barrel. U.S. crude trading at $103, that's coming off of some of the highs from the day when Brent crude actually
reached upwards of $126 a barrel. But at this level, where you have oil trading above $100 a gallon consistently, that just puts pressure on
everything.
From obviously, oil prices up 52 percent. U.S. gas prices up 46 percent since the beginning of the war. And then U.S. diesel prices also up 47
percent since the beginning of the war. And just look at the last three days here in the United States, what people have been paying at the gas
pump, the national average today here in the United States is $4.30 a gallon. Look at that, compared to just two days ago on --
SOARES: Yes --
YURKEVICH: Tuesday, that's a 12-cent jump. That is really significant for people here in the United States who use their cars every single day,
either for work or even just taking their kids to school and running errands.
We're also hearing about shortages, particularly in Asia. Asia gets about 60 percent of its oil from the Middle East region. We're hearing about
cosmetic shortages. These make-up and stuff there that's used from -- derived from petroleum jelly.
Instant noodles, think about the packaging, that's plastic coming from petroleum as well. Same thing with medical gloves. We're also watching for
additional fallout from higher energy prices and oil prices.
[14:10:00]
So, dairy, meat produce, things that have to come into the United States and other countries very quickly on truck, on ship, on plane. Shipping
costs going up because of diesel prices, obviously, travel prices for everyday Americans, the fuel blend for the Summer here in the United States
is already more expensive than the Winter.
Add this war on top of it, you're having prices at this gas pump as I just explained on the rise, and then airfare. We know that airlines have been --
SOARES: Yes --
YURKEVICH: Having to raise prices because of jet fuel costs, which are also up 50 percent, Isa.
SOARES: Yes, and we've been seeing that very clearly here with airlines, and clearly, like you laid out there for Asia, it really is a question of
availability, for so much of the world is about affordability. Vanessa Yurkevich, thank you very much indeed.
Well, as we've been doing for weeks here on the show, we want to look at the economic impact of the shutdown in the Strait of Hormuz. Some
economists are now saying that prolonged spike that Vanessa was talking about in energy prices could lead to a phenomenon known as demand
deconstruction.
And it happens when a price hike is so large and so persistent that it causes economic behaviors to shift and brings a series of cascading
economic consequences. Now, it starts with high energy costs, bringing in extra tax to all our households.
As a result of that, the new impacts consumer confidence begins. That starts to erode as people cut back on that discretionary spending, you
basically spend less. Soon, big purchases freeze up things for items like cars and houses, they don't get sold.
And then it impacts businesses too. There is less investment and companies stop hiring new employees. You see how things start to develop. Things get
even worse if the Fed is forced to raise interest rates to fight inflation.
And economists warn that these kinds of fundamental shifts don't get fixed quickly. It can take months or even years for an economy to recover from a
bout of demand deconstruction. So, joining us now to help explain how all of this is impacting U.S. and global economies, Cornelia Meyer; she's a
macroeconomist and an expert on the energy industry.
Cornelia, welcome to the show, good to see you once again. So, has this deconstruction, you think started to unfold?
CORNELIA MEYER, MACROECONOMIST & FOUNDER/CEO, MEYER RESOURCES: Oh, absolutely, I think it has started. Demand destruction is something that
has -- that has -- that has started. And what you see is, as you said, people will consume less. They will drive less.
In the U.S., we're going into the driving season. Families will not be able to afford to drive these long distances. And this comes with a whole, you
know, slew of consequences.
Now with this, first of all, low-income families get hit because for a low- income family, what you spend on food, which is getting more expensive, what you spend on fuel, which is getting more expensive, heating, cooling
is a much bigger proportion of your income than if you were a rich family.
So, we will see the poorest in the rich countries get hit first, and we will also see the poorest countries getting hit first, once that -- once
that competition for LNG cargoes from the U.S., between east Asia and Europe really starts. The Pakistanis and Bangladeshis will be priced out of
the market.
SOARES: And Cornelia, when we talk about the knock-on effect, right, we're talking about first oil prices, then confidence. How quickly does that
happen? Do we have a sense because it's -- I imagine it must be quite hard to map out these consequences.
You know, in a conflict that, as you probably heard at the top of the show, there is very little in terms of certainty, duration, or indeed outcomes
here.
MEYER: Well, the more uncertainty there is, the quicker it goes, because the more people anticipate, oh, this could -- this could go on for a -- for
a long time. So, the uncertainty really does not help.
And the sooner you see -- the sooner you see physical shortages, the sooner it goes. You saw that in some east -- southeast Asian countries like
Philippines, Laos, Thailand. They had physical shortages of fuel of other things.
So, they had to go to a four-day work week and things like that. Once you see the physical shortages, it will go faster.
SOARES: And we're talking about Asia really has felt the brunt really of this. Is Europe next do you think, Cornelia?
MEYER: Yes, Europe is next in some of the other -- we see next in jet fuel, because Europe gets --
SOARES: Yes --
MEYER: A lot of jet fuel from the gulf, and also some of it from refineries in Asia who now don't get the crude to refine into jet fuel. So,
Europe will insert in jet fuel and some other distillates will be next.
[14:15:00]
Where I'm really worried is fertilizer for --
SOARES: Yes --
MEYER: Thirty percent of nitrogen-based fertilizer comes from there. And that really affects everybody, especially the global south.
SOARES: What then can governments do to ease their -- ease this. Because it doesn't seem right now to be any appetite to cut interest rates. We saw
the Fed yesterday, Jay Powell's -- last Fed chair, of course.
We also saw the Bank of England today also not moving on interest rates, warning of a significant energy price shock. So, what can be done at a
governmental level here?
MEYER: Actually, very little can be done at this point. You see some --
SOARES: Yes --
MEYER: Countries coming up with policies of substituting for fossil fuels, but they should be careful there too, because at some stage, this conflict
will end, and they have to think of grid stability for electricity grids and the oil and gas inputs you need for industry.
So, it's really -- it's really hard for governments to do the right thing. And again, the more affluent countries will have the wherewithal to
withstand the shock better than the really poor countries in the global south.
SOARES: Economist and energy expert, Cornelia, thank you so much. Cornelia Meyer there for laying it all out beautifully for us. Well, the U.K.
terrorism threat level has been raised to severe in the wake of two Jewish men being stabbed in a neighborhood in North London.
This means an attack is highly likely, and this comes as British Prime Minister Keir Starmer promises a firm response, saying Jewish people in
Britain are now, quote, "'scared to show who they are". London's Jewish community is on edge as Golders Green, that is an area home to many of the
capital's Jews have faced a wave of anti-Semitic violence.
And still to come tonight, more sparring on Capitol Hill, this time as Senate lawmakers grilled the U.S. Defense Secretary. And it comes just
hours, of course, before a critical deadline. Plus, a third strike on a Russian oil facility in less than two weeks. We'll take you to Moscow as
Russia's war against Ukraine has massive economic implications.
(COMMERCIAL BREAK)
SOARES: Well, as the White House mulls resuming attacks on Iran, the Pentagon chief tells lawmakers the President doesn't need their approval to
continue the war past Friday's 60-day deadline. That deadline, by the way, is mandated by law.
[14:20:00]
But Pete Hegseth says, no, it's not, because there's a ceasefire. The U.S. Defense Secretary was back before lawmakers today, appearing at the Senate
Armed Services Committee, Hegseth and his top general faced pointed questions about the end -- the strategy, of course, of the war. Here's one
of those heated exchanges.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: Mr. Hegseth, you don't care that the American people are not supporting this war --
PETE HEGSETH, SECRETARY OF DEFENSE, UNITED STATES: I'm proud of the opportunity to remind the American people, because they believe in it as
well that they can't have it --
UNIDENTIFIED FEMALE: You don't care whether the American people support this war --
HEGSETH: When the American people and their -- the American people are quite smart. They understand and see-through spin. They know that a regime
that says "death to America", that seeks nuclear weapons --
UNIDENTIFIED FEMALE: And at what cost?
HEGSETH: And the ability to deliver. Did they lie about the range of their missiles?
UNIDENTIFIED FEMALE: How much more --
HEGSETH: Because I saw a 4,000-kilometer missile get shot at --
UNIDENTIFIED FEMALE: How much more will you ask the American people to pay for this war?
HEGSETH: Diego Garcia --
UNIDENTIFIED FEMALE: Right now, do you want a billion dollars a day? Do you want $2 billion a day?
(END VIDEO CLIP)
SOARES: And let's get more. Zachary Cohen joins us from Washington. Zach, look, another tough day of questioning, pointed questions there for
Secretary Hegseth. And that little clip that we just played is interesting, given, of course, that just 24 hours ago, we were saying it would cost $25
billion or it has cost it so far $25 billion.
But as Kevin was telling me, Kevin Liptak just at the top of the show, that is quite a conservative number according to some sources. So, was there
pushback on that? What stood out to you?
ZACHARY COHEN, CNN SENIOR NATIONAL SECURITY REPORTER: Yes, a few things stood out today. Obviously, the second straight day that Hegseth was on
Capitol Hill, the first time in over a year that he's appeared before the Senate Armed Services Committee.
Essentially, he was pressed on what was the Trump administration's rationale for starting this conflict with Iran? What is the timeline for
bringing that war to an end? And what is the strategy for bringing about that conclusion?
And basically, there was a consistent disagreement between lawmakers, especially Democrats on the Senate Armed Services and Hegseth over the
validity of what he was saying. And take a look at this one exchange between Jack Reed, who is the ranking Democrat on the committee, and
Hegseth, when he was pushed on, what are the Trump administration's objectives, and have they achieved them?
(BEGIN VIDEO CLIP)
SEN. JACK REED (D-RI): So, you have not achieved any of the objectives yet that as -- the President mentioned.
HEGSETH: So, we've put the President in a very strong position to ensure Iran never gets a nuclear weapon. That's the takeaway that's been
underneath every single aspect of this. Weakened after the 12-day war and Midnight Hammer which did obliterate their sites.
President Trump saw an opportunity because their ambitions continued to ensure that umbrella of nuclear blackmail did not allow them to get to a
nuclear weapon. And the world is safer because of his bold and historic choice.
REED: Mr. Secretary, I think that's rhetorical, but not factual.
(END VIDEO CLIP)
COHEN: So, obviously, we also heard from Kirsten Gillibrand, who is also a Democrat on this committee, saying that she disagrees with Hegseth's
assessment that the U.S. is safer now than they were before this war started.
And -- but Hegseth really did re-emphasize something that I think is coming a little bit more into focus as a key sticking point, as the negotiations
between Iran and the Trump administration seem to be at a sort of an impasse here.
And that is that Iranian nuclear ambition. And Iranians -- Iran's nuclear program, specifically, which essentially boils down to its stockpile of
highly-enriched uranium, which there does not seem to be any indication from the Iranians that they're willing to voluntarily give that up.
And of course, the other piece of this is still the Strait of Hormuz, which was open to the international community prior to the start of this
conflict. Iran, responding to that initial wave of U.S.-Israeli strikes by effectively shutting it down, that remains closed even with the U.S.
blockade in place.
So, reconciling those two major issues, I mean, how the U.S. plans to do so was -- Hegseth was pressed on both fronts today, did not really offer up
much of an answer. But on the issue of price as you mentioned yesterday, we heard really the first dollar figure from the Pentagon saying that the war
so far has cost about $25 billion.
We were told by sources after yesterday's hearing that the number is closer to double that. And the discrepancy appears to be, they have not accounted
for the damage that's been done to U.S. bases around the region and these retaliatory strikes.
We know that there's been significant damage to many U.S. bases that have harmed about 400 U.S. service members, and obviously, there have been 13
U.S. service members killed. So, the discrepancy seems to lie in that number.
SOARES: Zach, thank you very much indeed. Zachary Cohen there for us in Washington. Well, Ukrainian strike on a Russian oil refinery has left oil,
quote, "raining from the sky". This aerial view we want to show you showing truly apocalyptic scenes.
It is the third time in 12 days Ukrainian drones have hit the Tuapse Oil Refinery on Russia's Black Sea. And it comes as Russia plans to host a
scaled back parade on May the 9th, marking the defeat of the Nazis in World War II.
CNN's Fred Pleitgen now explains Russian President Vladimir Putin is facing some serious economic problems.
(BEGIN VIDEOTAPE)
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice-over): Another day, another massive fire at a Russian oil refinery, this time near
Perm in the Ural Mountains, the installation hit overnight by Ukrainian drones.
[14:25:00]
Kyiv has launched a massive aerial war of attrition against Russia's main economic lifelines, oil and gas. A few days ago, drones struck a refinery
in Tuapse in the south, leading to a massive toxic blaze that took days to extinguish.
"Drone strikes against civilian infrastructure are becoming more frequent", Russian President Vladimir Putin admits. "The latest example involves
strikes on energy facilities in Tuapse, which could potentially lead to serious economic consequences." And serious security consequences as well.
Moscow announcing it's drastically scaling back the annual May 9th victory day parade commemorating the defeat of Nazi Germany. Just as first
rehearsals get underway in the Russian capital. Vladimir Putin even offering to observe a ceasefire on that day as the Kremlin acknowledges,
Ukraine's bombardment makes securing a large event unfeasible.
"Against the backdrop of this terrorist threat, all measures are, of course, being taken to minimize the danger", the Kremlin spokesman says.
(ARTILLERY FIRE)
PLEITGEN: Russia's ongoing combat operations also taking an increasing toll on Moscow's economy recently contracting.
UNIDENTIFIED FEMALE: (SPEAKING IN FOREIGN LANGUAGE)
PLEITGEN: Videos like these springing up on social media, Olga Sidorova(ph) from Chelyabinsk, saying she's forced to close down her
clothing stores after 16 years. "I started selling clothes in my apartment, now it's a chain of stores.
Everybody knows my stores in the city, but now the time has come to say goodbye to my so-called child. This is like a little death for me."
UNIDENTIFIED FEMALE: (SPEAKING IN FOREIGN LANGUAGE)
PLEITGEN: Tatyana Semkina(ph) in Omsk in Siberia saying she's shutting her cafe after 20 years. "We've run out of energy and no longer have the
financial means to continue", she says. The Kremlin, though, says it still has both the means and the energy to continue what it still calls its
special military operation.
Vladimir Putin telling U.S. President Donald Trump, all of Russia's goals will be achieved. Fred Pleitgen, CNN, Moscow.
(END VIDEOTAPE)
SOARES: Well, thanks to Fred Pleitgen for that report. And still to come tonight, new attacks are straining the Israel-Lebanon ceasefire day after
Israel's military announced it would not hold fire on the frontlines. We'll bring you the very latest.
Then London's Jewish community is reeling from yet another brutal attack, and it's feared another anti-Semitic incident could be imminent. We'll take
a closer look, next.
(COMMERCIAL BREAK)
[14:30:00]
SOARES: Welcome back, everyone. A declared ceasefire between Israel and Lebanon is looking more tenuous by the day. Even in fact by the hour.
Israel expanded evacuation orders in Lebanon before new strikes. Ordering residents of eight more towns to leave. Lebanon's health ministry said at
least nine people were killed including two children.
Hezbollah is also keeping up attacks. The IDF says a soldier was killed in a Hezbollah drone strike in southern Lebanon. It says 12 other soldiers
were injured in a separate attack on northern Israel. All this of course happening after Israel vowed it will not ceasefire on the front lines.
I want to bring in our Oren Liebermann who's following developments from Jerusalem. Oren, good to see you. I'm not sure whether given both sides
attacking each other as we just laid out, whether we should be calling this a ceasefire or even a shaky ceasefire.
OREN LIEBERMANN, CNN JERUSALEM BUREAU CHIEF: Well, it seems like we're well beyond that. I agree with you, Isa. We have seen the ceasefire
agreement between Israel and the government of Lebanon. But that's not who is or who was at war. The fighting continues between Israel and Iran's
proxy Hezbollah in Lebanon. And it is civilians in southern Lebanon and other parts throughout the country that have been caught in the middle of
this.
As you pointed out, Israeli strikes today killed at least nine people in southern Lebanon according to the Ministry of Public Health, including at
least two children. That means that according to the ministry, nearly 2,600 people have been killed in Israeli strikes since just about two months ago.
Hezbollah meanwhile has also increased its attacks using not the rocket and missile arsenal that they had been known for and known to stockpile, but
drones, including fiber optic drones that are immune to Israeli jamming. We have likely seen the effects of those in these recent strikes. One of those
earlier today, according to the Israeli military, killed a soldier in southern Lebanon.
Another made it across the border and into this village or near it, Shomera in northern Israel, where the drone hit a military vehicle. There were some
videos suggesting that ammunition inside that vehicle was exploding, injuring 12 soldiers. So, you see that the war between Israel and Hezbollah
very much continues apace.
Is it at the ferocity we saw earlier on? Not quite. Israel is not carrying out strikes in Dahiya in southern Beirut. It has generally not carried out
strikes in the Beqaa Valley. But there is clearly a public demand here for Israel to resume those strikes. Perhaps the only thing stopping that is
President Donald Trump. He had claimed that the Israel-Hezbollah war was the 10th war he had stopped. So, that at least means something to him.
But Isa, the ceasefire that he extended just a few days ago, that expires in mid-May. And even though we're seeing this fighting right now, it very
much points to everything getting worse. Trump wants to host Prime Minister Benjamin Netanyahu and President Joseph Aoun in Washington at some point.
That seems incredibly unlikely right now.
SOARES: Yes, I was going to ask you about the diplomatic avenue here, because of course I know that, what, two days ago, Israel was basically
issuing urgent evacuation orders for more than a dozen Lebanese villagers. Where are we on the diplomatic front in that push? Are both governments
still engaged or not at all?
LIEBERMANN: At least in principle they're still engaged. As far as we know, there isn't another meeting between ambassadors, the Israeli and
Lebanese ambassadors scheduled to meet under the auspices of the U.S. and D.C. So, it's not even clear if that'll happen right now.
Trump was trying to get what would be a landmark meeting here. But with each day that passes with the evacuation orders, the Israeli strikes, that
becomes more and more difficult politically for Lebanese President Joseph Aoun. So, it's not clear that the diplomatic path really has a way forward
right now.
SOARES: Oren, good to see you, my friend. Oren Liebermann for us there in Jerusalem. Well, as I mentioned earlier in the show, the U.K. terrorism
threat level has been raised to severe after two Jewish men were stabbed in north London on Wednesday. London's Jewish community has experienced, as
you know, a wave of violence just in recent weeks. The country's chief rabbi told the BBC, quote, "If you're visibly Jewish, you're not safe in
Britain." Our Salma Abdelaziz has more from north London.
(BEGIN VIDEOTAPE)
SALMA ABDELAZIZ, CNN CORRESPONDENT (voice-over): Golders Green, north London, known as this city's Jewish heartland. Here, a community is under
threat, targeted by a recent spat of anti-Semitic attacks.
[14:35:00]
The latest declared a terrorist incident, a stabbing in broad daylight on this street that left two Jewish men injured.
UNIDENTIFIED MALE: Drop the knife.
ABDELAZIZ (voice-over): Leon, who grew up here, says he feels it's no longer safe to be visibly Jewish.
UNIDENTIFIED MALE: Our feeling of freedom to walk around as visibly as a Jew, that has been robbed of us as of yesterday. And this is the
consequences of the government failing its population and not doing enough when all the warning signs were there.
ABDELAZIZ (voice-over): The morning after the attack, Prime Minister Keir Starmer met with criminal justice agencies to demand a swift and visible
response.
KEIR STARMER, BRITISH PRIME MINISTER: There's no getting away from the fact that this was not a one-off. This has been a series of attacks on our
Jewish community. And there is a very deep sense of anxiety, of concern.
ABDELAZIZ (voice-over): While the PM scrambled his government, his political rival and right-wing populist Nigel Farage spoke to community
leaders at the scene.
NIGEL FARAGE, REFORM U.K. LEADER: Every single time it happens, there are kind words that come from No. 10 Downing Street. Soft words aren't enough,
and the government needs to be seen to be very, very robust.
ABDELAZIZ (voice-over): When the PM did arrive a couple of hours later, he received a much less welcoming response.
ABDELAZIZ: Prime Minister Keir Starmer has just arrived here to reassure the Jewish community that he is doing everything he can to keep them safe.
But he has been met by an angry and frustrated crowd. They've been chanting, Starmer, do harmer. They've been calling him a traitor. There is
a real sense of anger with the government here in London.
ABDELAZIZ (voice-over): Even with Starmer within earshot, Ruth told us she feels the authorities are deaf to her fears.
ABDELAZIZ: Why was it important for you to come here?
UNIDENTIFIED FEMALE: Because he needs to hear us. He needs to hear this is the first demonstration I've been on, and I go on many, where we're
actually angry because we've had enough. And we want him to start doing something positive.
ABDELAZIZ (voice-over): In the last few weeks alone, arsonists have set fire to ambulances belonging to a Jewish charity, and two synagogues were
attacked in separate incidences that were just days apart. Arrests have been made, legislation is being fast-tracked, and $80 million has been
pledged to help fund increased security for Jewish communities. But many here worry that's simply not enough to stop the next act of violent anti-
Semitism.
Salma Abdelaziz, CNN, London.
(END VIDEOTAPE)
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[14:40:00]
SOARES: Well, Elon Musk returns to the stand for a third straight day in a case that could reshape the future of artificial intelligence. The trial is
taking place in Oakland, California. Busk is suing OpenAI as well as co- founders Sam Altman and Greg Brockman.
On Wednesday, Musk told the court that he was not going to be able to get a trial. He also alleged that he was a fool to provide OpenAI's early
funding. The World's Richest Man alleges that Altman prioritized profit over A.I. safety and broke his promise to function as non-profit. OpenAI
claims Musk's case is motivated by jealousy and his own A.I. ambitions.
Hadas Gold is following this trial for us. Hadas, yesterday was a very heated day in court. Today, Musk, I understand, has taken the stand I think
he's done for the day. Give us a sense of what stood out or what you're gleaning from what we've heard.
HADAS GOLD, CNN A.I. CORRESPONDENT: Yes. Well, Musk today was having redirect and cross-examination and redirect again. And a lot of it was him
just reiterating his belief that OpenAI essentially stole a charity and deceived him when he donated $38 million to help fund and found OpenAI,
then for it to change from a pure non-profit mission to having a for-profit subsidiary.
I should note, OpenAI is still run by a non-profit foundation, but his argument is that they changed the essence of the mission of the non-profit
that he helped found. OpenAI's attorney spent their time questioning Musk about evidence that he had actually himself pushed at various times for
OpenAI to have a for-profit subsidiary, at one point even directing his assistants to register a for-profit benefit corporation in OpenAI's names.
Elon Musk has said, you know, he didn't have a problem with having a capped for-profit as long as it didn't get out of hand it wasn't the tail wagging
the dog. And now, he feels that is what's happened with OpenAI, which is, of course, one of the most valuable A.I. companies out there. We have seen
loads of evidence brought in, lots of emails, text exchanges, meeting logs, you know, each side trying to point out that this is the proof of what they
are trying to say.
What has been also interesting is, of course, the fireworks that we've seen between Elon Musk and especially OpenAI's attorneys. At one point Elon Musk
telling OpenAI's attorney, you're trying to trick me. Your questions are not simple.
And even with the judge as well, the judge at one point had to admonish the attorneys and then also Elon Musk to stop talking about how A.I. is going
to kill us all because this trial is not about whether A.I. can cause human extinction. She said that might happen in a later trial. This trial is, of
course, about OpenAI's non-profit to a for-profit subsidiary, not about that.
At one point she also admonished Elon Musk, who was trying to argue with the attorneys saying that they were, you know, asking leading questions.
And the judge was like, you're not an attorney, Mr. Musk. You are the witness in this case. And Mr. Musk tried to say, oh, well, I took a Law 101
class. That was met with some laughter.
But I think it shows that Musk is not used to being talked to this way. He is used to being, you know, richest man in the world, leader of all these
companies. Everyone, you know, is catering to him, talking to him. But in the court of law, everybody is the same, except for the judge, of course,
who gets to be the one in charge. And he was talked down, dushed down just a few times there.
SOARES: It's a pretty -- the way you paint it, Hadas, as a pretty nasty brawl, which kind of begs the question of, you know, over this tech bro
breakup, of what Musk wants to get out of it. And the timing of this, because, of course, it comes as OpenAI's planning what could be a pretty
blockbuster IPO, right? And with that potential cash infusion.
GOLD: Yes. And that's a key point of OpenAI's argument. They're saying, you know, Elon Musk could have brought this lawsuit years ago. And he only
chose to bring it after OpenAI found success with ChatGPT and after he founded his own A.I. company, xAI, which is a competitor to OpenAI.
It was really interesting also that in the courtroom, you know, Sam Altman and Greg Brockman, once his co-founders, his friends, they worked together
very closely. They were sitting just feet apart. They have been here every single day from jury selection through Elon Musk's testimony, watching what
he's saying. They've been writing down notes in their notebook. I can only imagine what they're writing down, what they're thinking.
They are both expected to take the stand themselves, which are also expected to be some pretty high-profile, important moments in all of this
as Elon Musk, you know, goes to war with one of the biggest, most well- known A.I. companies, which, again, if he gets his way here, it could completely change the A.I. landscape.
OpenAI could have to revert back to a nonprofit. Sam Altman and Greg Brockman could lose their jobs and OpenAI might have to pay $130 billion
back into its nonprofit, Isa.
SOARES: Yes, it would be hugely consequential. I know you'll stay across it for us, Hadas Gold. Good to see you, Hadas.
And still to come tonight, LIV Golf is apparently looking for new investors after all. The war with Iran is playing a huge role. We'll discuss whether
this is a death knell, of course, for the organization. That is next.
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[14:45:00]
SOARES: Well, Britain's King Charles and Queen Camilla are wrapping up their whirlwind state visit to the United States. The pair spent the day in
New York yesterday, paying, of course, a visit to the 9/11 memorial and meeting with Mayor Zohran Mamdani.
Today, the royal couple returned to Washington to bid farewell to U.S. President Donald Trump, as you can see there, and First Lady Melania at the
White House. Then they spent the morning, a more solemn morning, of course, at Arlington National Cemetery before heading to a block party marking
America's 250th birthday in Front Royal, Virginia.
Max Foster joins us now from that block party's taking place. Max, good to see you. I remember when I spoke to you in the early hours of this morning,
I remember saying to you, you know what I want to hear from? I want to hear from the people. And you are with the people. What are they saying? How
have they received the queen and queen's message, the king and the queen's message?
MAX FOSTER, CNN ROYAL CORRESPONDENT: There were massive queues to get in here. It was extraordinary, going round the block, and everyone was really
excited. Some people just interested, others were royal fans. The couple have just left.
This is what they saw. Welcome to small-town America. Am I allowed to say that? So, this is all about -- they were celebrating the food in part of
it. The king obviously got involved, very involved in the food. And there was clog dancing. It's still going on, or it was. Scottish-Irish clog
dancing. So, we're talking here about making all those connections between America and the United Kingdom, of course. And they've just finished. On
cue for you, Isa.
So, it's about celebrating all the links. But Sean Manar, who's a town official, can I call you that?
SEAN MANAR (PH): Yes, sir.
FOSTER: You had a chance to meet them. What did they say?
MANAR (PH): Well, the king was very personable. He spoke to us about being town employees, our HR director. He talked about them, about giving us the
day off. He said he's good for something. So, that's really pleasant. And he was all very personable.
They spoke to us. The ambassador and I spoke about soccer. He's a Crystal Palace fan. I'm not sure he wants that disclosed. But it was just very
pleasant to see such important individuals come to the Shenandoah Valley of Virginia and interact with locals and people who really make such a great
country work.
FOSTER: Can I ask you, there was some concern about it because the king was desperate to meet ordinary Americans, right? And there was all this
concern after Saturday night with the security and whether or not, you know, looser events like this were possible. I know there was a massive
security operation with the Secret Service. Was that hard work and how determined was he to meet you guys?
[14:50:00]
MANAR (PH): Well, from what I can tell, talking to our tourism director and our town manager, it was a lot. It was a lot popping up all of a
sudden, especially after the weekend. But we're very trustworthy here in Front Royal and the valley in general. And you can come to a small town in
America and you're safe. You don't have to worry about things happening because everyone's trustworthy. It's happy. It's patriotic. And it's really
what the United States is. And Front Royal is the perfect embodiment of this country.
FOSTER: One of your locals said to me the last big thing to happen here was Bing Crosby in 1950 coming and opening a movie. Now, you've got
something else to put on your record books.
MANAR (PH): It's really quite amazing. I didn't know about Bing Crosby until I started working here about six months ago. But to hear all the old
folks talk about him and his impact making the baseball stadium up on Commerce Avenue and then to see the king of England the queen, Camilla,
come, it's just amazing to see that come full circle somewhere that's so local to me and somewhere I've lived my whole life.
FOSTER: Sean, really appreciate it. What a lovely day.
MANAR (PH): Yes, sir.
FOSTER: This was the front line of the Revolutionary War fighting the Brits. And everyone's asking me, Isa, why are you all celebrating being
beaten?
SOARES: The irony. Max, thank you very much. And thanks to Sean really selling their Front Royal. Thank you, Max. Appreciate it. Good to see you.
Well, the economic impact of the war with Iran is hitting the world of golf. We were talking, of course, about the diplomacy at the top of the
show, but also the impact it's having on all markets. But it's also impact, as you can see, LIV Golf.
According to a source, LIV Golf will look for new investors at the end of the season as Saudi backers pull funding. It's partially due to the
economic fallout the war has had on the oil markets. Saudi energy infrastructure has been targeted by Iran, as you well know, along with
ships in the Strait of Hormuz. Saudi Arabia's public investment fund is now assessing all of its investments. LIV Golf was set to be a competitor with
the PGA Tour.
Joining us now is Andrew Beaton, a reporter for The Wall Street Journal. Andrew, great to have you on the show. I mean, you know, I remember when
the LIV Golf was announced many years ago, it almost sounded revolutionary, right, as they tried to lure all these players with hefty contracts. What
is it about its business model that has left it struggling? Is it just the Iran War?
ANDREW BEATON, REPORTER, THE WALL STREET JOURNAL: It's not just the Iran War. I mean, LIV Golf successfully lured many of the top players in the
world. We're talking Jon Rahm, Phil Mickelson, Bryson DeChambeau with these giant contracts. But at the end of the day, it wasn't really latching on
with television audiences, and that's where the big money is in sports. And so, as a result, they were spending an exorbitant amount of money and also
losing a phenomenal amount of money.
So, yes, the war undoubtedly played some small role in this. But as the Saudis recalculated what their investment strategy looks like over the next
five years, this giant money loser wasn't really part of their vision.
SOARES: And are we seeing at all some of those financial concerns with other sports that have been propelled and financed by Saudi Arabia's public
investment fund? I mean, any reason to suggest that they are tightening its spending here?
BEATON: One of the things that PIF made clear in its statement is that they are still interested in investing and investing in sports. But I think
if you look across Saudi Arabia's broader portfolio, there is definitely some pullback. And I think one of the things that's clear from when they
announced their strategic vision a few weeks ago is that they're very much interested in investments that are actually going to make money. And LIV
Golf was the exact opposite of that. It was a money pit at the end of the day.
SOARES: And that was going to be my question. I mean, if you could just really give a sense to our audience around the world, our viewers around
the world, I mean, considering the investment, of course, and the amount they put in getting these golf players, what is the return? Do we know what
the return is?
BEATON: Well, the best indication is we know that they've spent well over $5 billion on this since it teed off in 2022. And according to their latest
public filing, which was last year and represented the prior year's numbers, it had lost about $600 million that year, which just gives you a
sense of this wasn't just a small operation in terms of throwing a few golf tournaments here and there. This was something that they invested huge
amounts of money in, and it also drained significant sums.
SOARES: Where then -- who then, I should say, Andrew, would buy this, right? Invest in this? And where does this leave also their top players? I
mean, will they wait it out, or are you hearing anything about whether any of them are leaving to the PGA Tour or DP World Tour? What are you hearing?
[14:55:00]
BEATON: I think if anyone does ultimately invest in it, and I think that's a big if, there's no way it can exist in their current form. Because the
Saudis were plowing a lot of money into something that lost a lot of money, and who else is going to have the appetite after they've seen the results?
And so, if it exists, it would have to be pared down much cheaper for it to be anything resembling efficiency.
And the players are in a bit of purgatory right now. LIV will continue to play out its current season, but after that, it's really a giant question
mark because the biggest tour around, the PGA Tour, is the tour that they spurned. And so, will there be a pathway back? I'm sure something will get
figured out, but it won't be easy.
Brooks Koepka, when he returned earlier this year from LIV, had to pay a value of up to $90 million in a combination of charitable donations and
forfeited bonuses and equity. And even an offer like that might not be on the table for the current guys. So, they're going to be in a tough spot.
SOARES: It is a bit of a pickle indeed. Andrew Beaton, really appreciate you laying it all out for us, Andrew. Thank you.
And that does it for us. A very busy hour. Do stay right here. "What We Know" is up next with Lynda Kinkade. I shall see you tomorrow.
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[15:00:00]
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