Return to Transcripts main page

The Story Is with Elex Michaelson

Trump Sees Blockade As Best Option To Get Iran To Negotiate; Pentagon's Hegseth Defends Iran War As Cost Hits $25 billion; Hezbollah-Israel Clashes Escalate Despite Ceasefire Deal; British Royals Tour New York On Third Day Of U.S. Trip; James Comey Appears In Court In Trump Threat Case; Disney Supports Jimmy Kimmel As FCC Targets ABC Stations; Two Jewish Men Stabbed In Terrorist Attack In London; Musk to Take Stand for Third Day in Lawsuit against OpenAI; BYD: Don't Need U.S. To Remain on Top of EV Industry; Queen Camilla Reads to Children at New York Public Library; WSJ: Saudi Arabia to Pull Funding from LIV Golf. Aired 1-2a ET

Aired April 30, 2026 - 01:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[01:00:00]

ERICA HILL, CNN ANCHOR: With the storybook ending. The UK's Queen Camilla attending an event at the New York Public Library on Wednesday where she read to kids as part of the 100th anniversary of Winnie-the- Pooh, the fictional bear created by writer A.A. Milne. Each child brought a guest of their own.

The queen also brought a guest. She brought Roo the baby kangaroo from the famous children's series, which she donated to the library to complete its collection of stuffed characters from Winnie-the-Pooh. It was handmade by the oldest surviving teddy bear maker in the UK. The original Roo was lost at some point, but we are happy to report the entire Winnie-the-Pooh crew is now back together.

Thanks so much for joining me this hour. Stay with us. The next hour of THE STORY IS begins right now.

Welcome to The Story Is. I'm Erica Hill in for Elex Michaelson coming to you live from New York this hour.

The top story, though, is in Washington, where sources say President Donald Trump wants the U.S. blockade of Iranian ports to continue as a way to stifle Tehran's economy. Iran's parliament speaker and top negotiator says President Trump is trying to divide Iranians and forced Iran to surrender through the blockade.

The Iranian government, for its part, is taking measures to avoid shortages of fuel and goods, urging the public to cut energy consumption by providing incentives and also instructing government offices to cut electricity use by up to 70 percent after 1:00 pm.

Now, meantime, the Kremlin says President Trump discussed the ongoing Iran ceasefire with Russian President Vladimir Putin in a call on Wednesday. Here's what President Trump told CNN's Kaitlan Collins about when the Iran war might end. (BEGIN VIDEO CLIP)

KAITLAN COLLINS, CNN CHIEF WHITE HOUSE CORRESPONDENT: On your call with President Putin today, do you think the war in Iran ends first or the war in Ukraine?

DONALD TRUMP, U.S. PRESIDENT: Well, we talked about more about the war in Ukraine, but he would like to be of help. I said before you help me, I want to end your war. So we had a good talk. I've known him a long time.

COLLINS: But which war do you think ends first?

TRUMP: That's an interesting question. You know, coming from you, that's very interesting. Which war would end first? I don't know. Maybe they're on a similar timetable. I think Ukraine, militarily, they're defeated.

(END VIDEO CLIP)

HILL: CNN's Kristie Lu Stout is live in Hong Kong. So we hear from the president there earlier, we've been talking about not wanting to lift the blockade. The whole point, right, was to in many ways bring Iran back to the table. The price of oil surging again. We heard about the cuts that Iran is making, but it's not just Iran. The global economy is really feeling the pain here. Walk us through where things stand.

KRISTIE LU STOUT, CNN CORRESPONDENT: You know, the price of oil is indeed surging, Erica. In fact, oil has been hitting a wartime high today. Just moments ago, it was around $125 a barrel. This after comments from the U.S. President, Donald Trump.And he warned that he will maintain the naval blockade on Iran's ports and vessels unless Iran agrees to curb its nuclear program.

Now, the Brent crude price at the moment you could see on your screen at $121.10 per barrel. But again, earlier in the day, it was around one a barrel. Oil prices on Wednesday, they rose more than 6 percent with Brent crude hitting a one month high. We're also keeping an eye on average gas prices in the United States.

And according to AAA, they remain at very elevated levels. Before the war, $2.98 a barrel now, $4.23 a barrel on average.

Now, in an interview with Axios on Wednesday, that's when we heard from the U.S. President and he doubled down on the U.S. naval blockade on Iranian vessels and ports.

This is what he said. He said this, quote, the blockade is somewhat more effective than the bombing. They are choking like a stuffed pig and it's going to be worse for them. They can't have a nuclear weapon, unquote.

Now, we also heard from U.S. Central Command. They said that the U.S. naval blockade is, quote, highly effective and said that it managed to intercept or redirect around 42 ships since the blockade began earlier this month. Now, Iran, in response, has been defiant. We heard from the Iranian

parliament speaker who took to the social media platform X to openly ridicule Trump's blockade as well as the rising price of oil.

This is what he said, saying this, quote, that was the kind of junk advice the U.S. admin gets from people like Bessent, making reference to the U.S. treasury secretary, who also pushed the blockade theory and cranked oil up to 120 plus. Next up, 140. The issue isn't the theory, it's the mindset, unquote.

Now, mockery aside, Iran is taking measures to curb energy consumption inside the country. Iran's oil ministry, in fact, is urging 90 million people across Iran to cut consumption of energy as the U.S. Naval blockade holds. Erica?

[01:05:00]

HILL: All right, Kristie, appreciate it. Thank you. Here in the U.S., Defense Secretary Pete Hegseth defending his handling of the Iran war in fiery testimony before Congress on Wednesday, his first time addressing the Congress since the war began.

Hegseth described lawmakers who criticized the Trump administration or questioned the war as the, quote, biggest adversary in this conflict. Democratic Congressman John Garamendi slamming the administration for getting the U.S. stuck in what he called a quagmire claim Hegseth rejected.

(BEGIN VIDEO CLIP)

PETE HEGSETH, DEFENSE SECRETARY: My generation served in a quagmire in Iraq and Afghanistan. Years and years of nebulous missions and utopian nation building that led us to nothing.

What we have right now, the way you stain the troops, when you tell them two months in, two months in, Congressman, you should know better. Shame on you. Calling this a quagmire. Two months in. The effort, what they've undertaken, what they've succeeded, the success on the battlefield that could create strategic opportunities, the courage of a president to confront a nuclear Iran and you call it a quagmire, handing propaganda to our enemies. Shame on you for that statement. And statements like that are reckless to our troops.

Don't say I support the troops on one hand and then a two month mission is a quagmire. That's a false equivalation. Who are you cheering for here?

(END VIDEO CLIP)

HILL: At the hearing, a top defense official estimated the Iran war has cost the U.S. some $25 billion. Sources tell CNN. However, that figure is very low. The real cost, according to those sources, is closer to 40 or even $50 billion because the Pentagon's number doesn't account for rebuilding U.S. bases nor replacing destroyed assets.

Meantime, we're also keeping a close watch on the cease fire between Israel and Lebanon. An adviser to Israeli Prime Minister Benjamin Netanyahu is blaming Hezbollah for renewed fighting, accusing the Iran-backed group of Republicans breaching the ceasefire.

Video on Wednesday showed Israeli military vehicles driving along Israel's northern border with southern Lebanon, where new strikes were reported. CNN's Oren Liebermann has been following the developments for us from Jerusalem.

(BEGIN VIDEOTAPE)

OREN LIEBERMANN, CNN JERUSALEM BUREAU CHIEF: The cease fire that's in place in southern Lebanon appears more and more to be a ceasefire in name only. And part of the issue is that the agreement is between Israel and the Lebanese government, but the ongoing war is between Israel and Hezbollah, Iran's proxy in Lebanon.

According to Lebanese authorities and state media, Israeli strikes in Lebanon killed at least five people in southern Lebanon on Wednesday, including a family of three. On top of additional strikes on Tuesday that killed at least eight people, according to authorities there, including rescue workers.

Lebanese President Joseph Aoun condemned the strikes and what he said were the targeting of rescue workers who had responded to an earlier strike. According to the Lebanese Ministry of Public health, more than 2,500 people have been killed in Lebanon over the course of the past two months since the start of the war with Iran.

Meanwhile, Hezbollah has continued to launch rockets and drones against Israeli forces in southern Lebanon and against northern Israel on at least four separate occasions.

On Wednesday, launches were intercepted by Israel's military, according to statements from the military. And that shows you how difficult the diplomacy here is.

President Donald Trump has made clear he wants to host what would be a landmark meeting between Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun in Washington. But that seems more and more unlikely as we see this ceasefire appearing to hang on by a thread here, even as Trump himself extended the cease fire to make it last more than a month.

But there is still very difficult diplomacy ahead here to try to make this a more permanent cease fire agreement and the broader peace that Trump is trying to achieve. Oren Liebermann, CNN in Jerusalem,.

(END VIDEOTAPE)

HILL: King Charles and Queen Camilla are set to return back to Washington. They're preparing to wrap up their visit to the U.S. after a packed day of meetings and events here in New York. They began their day at the 9/11 Memorial where they laid a bouquet of white flowers and left a handwritten message. The king and queen also visiting with first responders who were there on the scene 25 years ago working the disaster. They also spoke with victims' families. Among their other stops today, Rockefeller Center for reception with

trade and business executives. You also saw in that video there, meeting with, of course, officials. The pair are expected to rejoin President Trump for a formal farewell ceremony at the White House in a matter of hours now.

The president previously claimed the king shared similar views with him on the war with Iran. On Wednesday, he suggested the UK's role may have been different if the king had assigned.

(BEGIN VIDEO CLIP)

TRUMP: This country and he's a great king and he's a great friend of mine. And I think if he were doing that, if that were up to him, he would have probably helped us with Iran. He would have done. He would have followed the suggestions we made with respect to Ukraine because, you know, we have some disagreements on Ukraine.

(END VIDEO CLIP)

HILL: CNN royal historian Kate Williams joins me now. Kate, always good to talk to you.

[01:10:00]

So the president thinks that King Charles would have maybe had a different take. Give us the view. Give us the view from the U.K. is that the sense that, that perhaps things would be going differently if the king were making some of those decisions?

KATE WILLIAMS, CNN ROYAL HISTORIAN: Yes. Well, this is what's been said by President Trump. It's not really protocol to reveal what said with the king behind closed doors. President Trump is not a British subject. He's not bound by the same rules as constitutional monarchy as, say, I might be or the Prime Minister might be.

But certainly what we do know is that this is really not very similar to government policy. Essentially, there are many ways in which the British government and President Trump don't see eye to eye, but the greatest and most significant of those is about the war in Iran. The British government, Keir Starmer, our Prime Minister, is absolutely opposed to Britain being involved in the war with Iran.

He's made that clear. President Trump is particularly frustrated by that, and that's really why so many insults have been coming Keir Starmer's way over the last month or so. And certainly this is very different to how President Trump has said the king feels.

Now, I think that, yes, you might say that both the king and Keir Starmer agree that Iran shouldn't have the nuclear weapon. But whether or not the king agrees with war or not, we simply don't know the truth, because the king is above politics. But certainly the king does have no role, he has no political role at all in what Britain does. So it's irrelevant whether he wants it or not.

But I think certainly this is embarrassing to the British government. It's embarrassing to the royal family. The whole point of this meeting, this great state visit, this huge pomp and circumstance, has been to create a better relationship between the U.S. and the U.K. and really what we have here is President Trump saying, well, yes, I like the King. The king is marvelous.

He's a great, fantastic guy, but he's very unlike the government. And I still don't like the government. So there is still this big gap between the government and President Trump.

HILL: Yes. Perhaps not surprising, given that we know how much President Trump does enjoy. He's a big fan of the royal family, loves the pop and circumstance, as we know. And yet, I will say I was struck in a number of conversations, and I know you've talked about this a little bit as well, just how much we heard from the king in his address to Congress, in his comments at the state dinner as well, on Tuesday night.

He was very clearly sending a message. One would, you know, one might say, now, President Trump will take what he wants from that. Right? He'll hear what he wants to hear. How much of the messaging, though, do you think was aimed at President Trump versus maybe a U.K. audience, an American audience, or frankly, a global audience?

WILLIAMS: Yes, such a good question, because this speech, I think, took a lot of people by surprise. It really was very political for a monarch. I think a lot of us expected, well, talk about peace and unity, but in very vague terms. Instead, the king was very clear.

He absolutely said that America should assist Ukraine, that America should protect the natural world, that there was a duty to create peace and unity, that NATO was an important part, an important democratic bulwark that everyone should work to, and also that executive power should be subject to checks and balances.

Now, he received 12 standing ovations and a lot of support, but is that going to translate into actual Congress getting behind supporting Ukraine or voting for Ukraine aid? I mean, this is the question.

But certainly the speech has gone down extremely well in the U.K., extremely well in Europe, and certainly Charles has been seen as putting European views, but its wider impact, I'm not sure how much that remains to be seen. It really does. Is it going to have political impact? Is it going to change anything here?

But certainly in terms of the King himself, it's put his reign on the diplomatic map. It's the most challenging diplomatic speech of his career, and he really did surprise a lot of people with his clear, overt messaging, particularly, I think, to President Trump.

But then President Trump said it was a fantastic speech and the King got Democrats to stand, which I never did, and really seems to perhaps have. I don't think it's had the effect perhaps, that the king might have liked, but essentially, I suppose the King felt, you know, all he has is words, so he's going to get up there and deliver them, and that's all he can do. I think he felt he could go as far as he could and say all he could, and that's what he has done. HILL: Has it also, in some ways, at least on this side of the pond, brought him out from under the shadow of his mother?

WILLIAMS: I think that is totally the case. I think the King, now, at nearly 80, because he's nearly 80, has finally come out of the shadow of his mother, the shadow of the great Elizabeth II, seen as this. And she was this magnificent diplomat going around the world 42 times.

[01:15:00]

We add them all up, coming to the United States on eight state visits, repeatedly creating this excellent relationship between the U.S. and the U.K. meeting all the presidents apart from Lyndon Johnson, and really healing rifts after the Suez Canal disaster in 1957.

Now I think the king finally has come into his own. It's going to probably be a short reign, but this reign, I think, is now going to be discussed. He's going to be judged by history, he said at the opening of his speech to Congress, he said, I feel the weight of history on my shoulders and certainly I think history would judge him very well for this.

So he'll be judged well by history. He'll be talked about, he'll be discussed. But in terms of how much effect, how much influence he has, that may really be very low because President Trump, as I think, has taken what he wanted from this visit. And it is the pomp, it is the circumstance, it is him saying me and the king are on the same page. And that I think probably will be that.

HILL: Kate, appreciate it as always. Thank you.

The Federal Reserve holding interest rates steady during Jerome Powell's final meeting as chair. Speaking after Wednesday's meeting, Powell said he'll step aside when his term ends on May 15, but he does plan to remain on the central bank's board, as he has said before.

Powell said the decision about his future was also based on the possibility that the Justice Department could reopen its investigation into him and testimony he gave to Congress last year. And he warned about continued political attacks on the Fed's independence and was asked about his likely successor, Kevin Warsh.

(BEGIN VIDEO CLIP)

JEROME POWERLL, FEDERAL RESERVE CHAIR: These legal actions by the administration are unprecedented in our 113 year history, and there are ongoing threats of additional such actions. I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors.

UNIDENTIFIED MALE: Are you confident that Kevin Walsh will stand up to political pressure from President Trump?

POWERLL: So he testified very strongly to that effect in his hearing and I'll take him at his word. (END VIDEO CLIP)

HILL: President Trump's nominee to succeed Powell, Kevin Warsh, who you see here, did clear a key confirmation hurdle, confirmation process hurdle earlier on Wednesday. His nomination is now expected to advance to the broader Senate chamber for a final vote.

Former FBI Director James Comey is set to make his next court appearance in North Carolina on charges that he threatened President Trump. Comey turned himself in on Wednesday in Virginia, where he lives, spending about 10 minutes in court before the judge released him without conditions.

The Justice Department says Comey's Instagram post from last year, the one you're looking at here, you see it's shells on a beach there, which spell out the numbers 8647. The DOJ says that was a direct threat to kill President Trump. CNN's Kaitlan Collins asked the president if that's how he felt.

(BEGIN VIDEO CLIP)

TRUMP: 86. You know what 86? It's a mob term for kill him. You know, you ever see the movies? 86 The mobster says to one of his wonderful associates. 86 that means kill him. People like Comey have created tremendous danger, I think, for politicians and others.

(END VIDEO CLIP)

HILL: We'll have more on the case against Comey from CNN's Crime and Justice correspondent Katelyn Polantz.

(BEGIN VIDEOTAPE)

KATELYN POLANTZ, CNN CRIME AND JUSTICE CORRESPONDENT: Now, this is a case that is going to have a lot of arguments before it ever gets to see a trial and a jury. In court, on Wednesday, Comey's attorney said that they are planning on arguing to judges in North Carolina. That's who's going to oversee this case, that Comey has been singled out unfairly for prosecution by the Trump administration and the Justice Department.

Previously in, in the last criminal case he faced where that case was dismissed, it was a perjury count, Comey also argued that he was being selectively and vindictively prosecuted because Donald Trump, the president, dislikes him so much and has wanted to see him in jail. That's very likely to be a similar argument that we see in this case.

This is the sort of thing, though, that the Justice Department's going to have to respond to extensively. And the acting attorney general, Todd Blanche, he was asked by a reporter at a separate press conference on Wednesday afternoon, is it the Justice Department's decision that anyone who writes 8647 may be investigated and charged?

Here's how Blanche responded.

TODD BLANCHE, ACTING U.S. ATTORNEY GENERAL: Look, every case is different. Every threats case is different. And so that means that there can -- what is, what does that mean? That means that the nature of the threat, the person who makes the threat, and then the investigation around the threat.

And so you cannot -- it would be ill advised for anybody to compare a particular statement to another statement that appears similar when there's been a thorough investigation. Nobody in this room has any idea what happened during a grand jury investigation between May 15th and yesterday.

POLANTZ: Now, there'll be a long road ahead as Comey's team continues to challenge what Blanche calls a thorough investigation into the former FBI director.

[01:20:05]

We don't have a set of dates yet on when Comey will be appearing again in federal court, but those proceedings will be in New Bern, North Carolina, very near the beach. Back to you.

(END VIDEOTAPE)

HILL: Katelyn, thank you. Broadcasters here in the United States are rallying behind Disney right now in its fight with the Federal communications Commission. The FCC and President Trump want the company to fire ABC's late night host Jimmy Kimmel for a joke he made last week about first lady Melania Trump saying she had the glow of an expectant widow.

Well, FCC chair Brendan Carr is turning up the heat on Disney ordering the renewal of its station's broadcast licenses. The application for that renewal ordering them to apply nearly two years early. The National Association of Broadcasters says that process needs to be fair and equitable.

An investigation is now underway into the latest attack involving London's Jewish community. Its members are taking a stand, saying they have had enough. More on that story is ahead.

(COMMERCIAL BREAK)

[01:25:22]

HILL: Members of the Jewish community rallying in London just hours after two men were stabbed in broad daylight. Police releasing body cam footage which shows the confrontation with the suspect. Both victims we're told, are now in stable condition. Police say the suspect has a history of violence and mental health issues.

This is just the latest attack in a series that is keeping the Jewish community on edge. Here's CNN's Jomana Karadsheh.

(BEGIN VIDEOTAPE)

JOMANA KARADSHEH, CNN INTERNATIONAL CORRESPONDENT: About a couple of hours ago we were driving back from an interview with a rabbi at a synagogue close by. His synagogue was attacked recently and as we were driving up towards Golders Green, this predominantly Jewish area in North London, we could hear choppers up in the sky. We could hear and see, see the police sirens and the emergency response. So our team just got out of the cab and ran over to see what was going on.

And since then of course we have had those statements coming out from the Jewish charity the Shamayim (ph) that runs the neighborhood watch patrols as well as the Met Police in the last few minutes as well, saying that two Jewish people were stabbed in this attack. They were a 30-year-old and a 70-year-old, according to the police. They are in stable condition.

The suspect, according to the Met tried to also stab police officers. He was tasered and he was taken into custody. They say that he's a 45- year-old man. They are working to establish his nationality, his background, any links he might have. This is being led by the counterterrorism police.

This investigation is ongoing. I mean the Shamayim (ph) were saying that the attacker was running down Golden Spring Road with a knife looking to stab Jewish members of the public. And keeping in mind this is coming after that spate of antisemitic arson attacks that we have seen around London since the end of March. That has very much put the Jewish community on edge to say the least.

Those attacks, we don't know again if this is linked to what is going on here, what has happened here. Those attacks, we were claimed by a group that we'd not heard of before. The British authorities have said that they are investigating its possible links to Iran and whether Iranian proxies may have been used to carry out those arson attacks.

Speaking with members of the Jewish community, speaking with the rabbi earlier, you know, he was saying they're shocked by what is going on, but not surprised. And the fear that we've heard from people here is that this sort of violence is becoming normalized. You know, after the arson attacks, everyone was saying, thankfully, no one was hurt. Today, two people were stabbed here.

(END VIDEOTAPE)

HILL: And I thanks to Jomana for that reporting. A back and forth sparring as Elon Musk returns to the sand to describe his relationship with OpenAI and how it went south. New details on that testimony, next.

(COMMERCIAL BREAK)

[01:33:00]

ERICA HILL, CNN ANCHOR: In the coming hours, Elon Musk is expected to wrap up his testimony against OpenAI following a combative cross- examination on Wednesday. His lawsuit accuses the company of abandoning its original mission to build artificial intelligence for the common good.

OpenAI, for its part, says it was actually Musk who pushed for profits and then left because he couldn't have total control over the company. The Tesla CEO testified he was only ok with the for-profit model as long as it did not become the main event.

OpenAI CEO Sam Altman is expected to testify next week in this trial that could have major ramifications for the future of A.I.

CNN contributor Jacob Ward is a technology journalist. He's the host of the Rip Current podcast and joins us this hour from Oakland.

It's good to have you with us. I also like having you put this in context for us because -- first of all, bring us into the courtroom and what it's like in this moment.

I saw at one point you said it was all very Silicon Valley. For those of us on the East Coast --

JACOB WARD, CNN CONTRIBUTOR: Yes.

HILL: I mean, put that -- put that into perspective because this almost seems like a crazy divorce playing out but with fascinating parameters.

WARD: Yes. If mom and dad, or in this case, dad and dad were the richest and most influential people in the world, then this would be the divorce. That's right. It would be a weird divorce that you'd be at the center of.

I mean, the thing about it, Erica, being in that courtroom -- I mean, American courthouses are so great because there's no velvet ropes, there's no VIP bathroom, right.

I had to wait in line for the men's room next to Sam Altman in the weird, awkward way that men sometimes have to do. And that alone was weird.

Musk going up and down the courtroom corridors because there's really no place to hang out with his security detail.

And the reason it's also very Silicon Valley is that there's this funny combination of corporate jargon and this kind of ruler of the world sort of language.

[01:34:52]

WARD: So at one point, we were shown an exhibit in which Musk was writing back to Altman back in 2017, when they were first kicking around the idea of a non-profit, and they were talking about what the corporate structure of OpenAI might be.

And Musk said at one point, I'm paraphrasing here, but he basically said we could have a board of, let's say, 12 people, but we might need to expand it to 16 depending on how much of the world's fate rests on its shoulders.

I mean, literally, you know, he's not saying this as a joke. He's saying if we needed enough people to deal with the technology that might upend the economy in the world as we know it, we'll add an extra four people to the board.

So it's this funny mix of business jargon and sort of science fiction language that I think really defines this kind of trial.

HILL: Yes. And I think it leaves a lot of people scratching their heads wondering if this is reality, right. Is this really the way that people are doing business?

Is this the way that, you know, two of the most powerful men on the planet are conducting themselves and deciding on the future of not only a company, but potentially the impact on a lot of average people. And to that end, what is the potential impact here?

WARD: Well, the short-term impact for OpenAI is that if Elon Musk gets his way, you know, the monetary damages make no difference to a company worth 720 -- whatever it is -- billion dollars at this point, $72 billion.

I mean, it's incredible how much money they are throwing around. It's so late in the night, I can't even remember what it is. But it's in the hundreds of billions.

And you have, you know -- but if he was to be able to depose, you know, knock off Altman and Greg Brockman, the president of OpenAI, which is one of his plans, then that would be a competitive advantage. And it could derail OpenAI's plans for an IPO later this year. That's the short-term effect.

But you know, the part for you and me, Erica, is the fact that, you know, there's been almost no democratic input into the acceptance of A.I. into our lives. You don't really get any say.

And so the fact that nine random Oakland residents, people that live here in my city, have some input into how this is going to go is a really interesting thing.

But I would say, you know, the theme that I saw over and over again in the testimony is this theme of clearly two gentlemen who are very concerned with who gets credit for this world-changing, industry- changing company.

and this feeling that there's really, you know, there's, you -- Musk was so triggered at one point by OpenAI's lawyer, Mark Savett, who basically said, well, what kind of contributions were you really making? You didn't make technical contributions here.

And you could see Musk's head pop off. The idea that he wouldn't get credit, much less technical --

HILL: Yes.

WARD: -- credit for this clearly makes him crazy. And so there's a -- there's a real -- there's it's not just about the competitive advantage between Elon Musk's companies and the OpenAI company. It is also, I think, a question of credit and legacy, which is, of course, the defining thing for so many people here in Silicon Valley. HILL: Yes, absolutely. Bragging rights and a healthy dose of ego as

well.

Jacob Ward, really appreciate it. Thank you.

WARD: Thank you.

HILL: The world's largest electric car company telling CNN it doesn't need the U.S. to stay on top. Chinese automakers remain largely shut out, of course, at the U.S. market due to tariffs and national security concerns.

But on the sidelines of the Beijing auto show, Simone McCarthy spoke with BYD's executive vice president, who said the company is doing just fine.

(BEGIN VIDEOTAPE)

SIMONE MCCARTHY, CNN SENIOR CHINA REPORTER: These three letters have the world's carmakers quaking, BYD. The Chinese car manufacturer, seems to have cracked the code on producing affordable batteries for electric vehicles and now sells more EVs than any other company.

But thanks to Washington's heavy restrictions on Chinese automakers, U.S. consumers won't be able to buy BYD anytime soon.

STELLA LI, EXECUTIVE VICE PRESIDENT, BYD: Without the U.S. market, BYD is still the leading position.

MCCARTHY: You're confident.

LI: Very confident.

MCCARTHY: A quick look at the numbers tells you why BYD feels so secure. It bested Tesla in global EV sales last year. Even without access to the world's largest economy.

The U.S. government has effectively barred Chinese EV makers from importing their cars into the country, eyeing their expansion as a threat to domestic production and national security.

LI: My best wish is with President Trump's visit to Beijing then you start a dialog, then you see the business opportunity. This U.S.-China relationship is a win-win.

MCCARTHY: At this year's Beijing Auto Show, BYD put on a show of force -- an entire hall dedicated to its brands. There's clamor for all those cars overseas, especially as the Iran war drives up prices at gas pumps.

LI: We are more global Chinese brand and for sure.

MCCARTHY: BYD needs its overseas growth to offset fierce competition in its home market.

[01:39:47] LEI XING, FOUNDER, AUTOXING: BYD, right, they were flying up until 2024 and then '25. So far this year, they've had a lot of pressure.

MCCARTHY: The company reported its first annual profit drop in four years in 2025, amid a brutal price war. And its net profit more than halved year on year in the first quarter of 2026.

Its answer to driving forward -- tech, including super-fast charging, batteries that can charge from 20 percent to 97 percent in 12 minutes, even in cold temperatures.

BYD is also racing car makers globally to develop more advanced assisted-driving systems and investing in hardware and software to roll that out.

LI: This will make us more powerful in the future when the A.I. more mature.

MCCARTHY: Simone McCarthy, CNN -- Beijing.

(END VIDEOTAPE)

HILL: Here's the story of the House of Brady. Fans of "The Brady Bunch" can now relive the classic 70s sitcom with a tour of the iconic Brady home near L.A. The Brady experience is your chance for a trip down memory lane in real life, not just on TV.

So you may remember that the interior of the home, which was used for the exterior shots of the show, was renovated back in 2018 to resemble what you saw on TV. And now it's your chance to see it IRL. You can walk through the redecorated home, climb the staircase. Maybe you want to take your Christmas card picture on the staircase.

The owner is hosting a limited number of ticketed visitors throughout the summer, and the proceeds, by the way, from your ticket benefit a local dog rescue nonprofit.

You're watching THE STORY IS. I'm Erica Hill.

For our international viewers, "WORLDSPORT" is up next for you. For our viewers here in North America, stay with me, we'll be right back with a little more news.

[01:41:32]

(COMMERCIAL BREAK)

A storybook ending for the royal visit to New York City. Queen Camilla attending an event at the New York Public Library on Wednesday, where she read to kids as part of the 100th anniversary of the Children's series "Winnie the Pooh".

The queen also donated a replica of a stuffed animal, which inspired the series, helping the library to complete its collection of characters. You can see that just behind her there.

So she brought along Roo, who'd gone missing at one point. And she shared why reading holds such a special place in her heart.

(BEGIN VIDEO CLIP)

QUEEN CAMILLA, WIFE OF KING CHARLES III: And Joan Didion, whose papers I believe are safely stored here, said it best.

We tell ourselves stories in order to live. We all need stories therefore we all need books.

This is something I've always known to be true thanks in large part to my papa, who inspired in his three children a lifelong passion for reading.

Indeed, the first Americans I knew and loved were the characters I met in my treasured childhood novels -- "Little Women", "What Katie Did", "Charlotte's Web".

(END VIDEO CLIP)

HILL: Joining Queen Camilla at the New York Public Library -- Anna Wintour global editorial director of Vogue and actress Sarah Jessica Parker, who owns a publishing brand.

She says her great focus right now is on funding for libraries and education because of the cuts to libraries, education and specifically public schools.

THE STORY IS LIV Golf facing a big issue, with some are referring to as an existential crisis. "The Wall Street Journal" now reporting the upstart league's Saudi backers, are expected to pull funding from the league as early as today.

CNN's Don Riddell has the latest.

(BEGIN VIDEOTAPE)

DON RIDDELL, CNN WORLDSPORT ANCHOR: Thursday is always an important day for golfers. That is typically when a tournament tees off. But it could be a very different experience for the LIV players this week because, according to "The Wall Street Journal", they're going to be told that Saudi Arabia's public investment fund is pulling its investment in the league after this season, 2026.

The war in Iran and the impact on the global oil market seems to have prompted a rethink of Saudis investment strategies. Thanks to the Saudi money, LIV emerged as a market disruptor in 2022, poaching many of the game's top stars from the PGA Tour, igniting what was described as a civil war in the men's game.

Lawsuits were filed, harsh words were spoken, a lot of feelings were hurt. The defectors, as they were known, the LIV players like Brooks Koepka, Dustin Johnson and Bryson DeChambeau made a fortune, but arguably at the expense of their golfing legacies.

Recently, cracks have been emerging at LIV. Koepka and Patrick Reed left the tour in recent months, plotting their own paths back to the PGA Tour. And this week LIV postponed this summer's event in New Orleans until later in the year, which really ran contrary to the league's CEO, Scott O'Neil, who had said that LIV would be, quote, "continuing exactly as planned, uninterrupted and at full throttle".

What happens next is unclear. LIV could be done. This might be the nail in its coffin.

Of course, LIV will try to find a new backer, but it's hard to imagine that anybody will pour as much wealth into the league as the Saudis have. They have lost billions on it.

And that would make it much less desirable to the big stars who may seek to return to the PGA Tour. But they won't necessarily all be welcome.

Whatever you think of the LIV project, it has arguably been more interesting and entertaining off the course than on it. And whatever happens next to both the league and its players, it is sure to be fascinating.

Back to you.

(END VIDEOTAPE)

HILL: Still to come here, will she or won't she? You'll hear directly from star gymnast, Simone Biles, about competing in the 2028 Olympics. What she's telling CNN.

We'll be right back.

[01:49:30]

(COMMERCIAL BREAK)

HILL: THE STORY IS whether the world's most decorated Olympic gymnast will compete in the 2028 Summer Games in Los Angeles. And for now, Simone Biles says maybe, still up in the air.

You may remember she withdrew from some Tokyo Olympic events in 2021 after suffering a mental block known as the twisties. But Biles is opening up more now about her mental health journey with our own Amanda Davies.

(BEGIN VIDEO CLIP)

AMANDA DAVIES, CNN WORLDSPORT ANCHOR: As time has gone on with a bit of space and distance from what happened in Tokyo. How do you view it now?

SIMONE BILES, OLYMPIC MEDALIST: Well, I think it was very good globally to have that conversation on the topic of mental health. But other than that, I feel like it showed the realness to me because everyone thought I was a robot. She's not real.

But it's like down to the core, I'm just like you, guys. I'm real. There's rawness to it. But most importantly, it got me the therapy that I deserved. And I'm still currently in therapy.

[01:54:44]

BILES: And now I look at it as being courageous and not so much a weakness, which before, that was not the case.

DAVIES: How hard in that moment was it to find the strength to say what you needed to say and do what you needed to do?

BILES: Yes, I would say it was really difficult because we're not somebody or gymnasts aren't viewed as people who have weaknesses. And that was the first time that weakness was displayed on a global stage like that.

DAVIES: But is it a weakness?

BILES: I mean, I guess I would say vulnerable then. But I had a lot of help and my group, my core group was really helpful in letting me know that it's ok. People go through this and you're just human.

(END VIDEO CLIP)

HILL: Just in time for the World Cup, your favorite pet can now show its team spirit. Adidas unveiling its new pet collection of jerseys inspired by various countries' home kits. Among the options Mexico, Colombia, Argentina and the U.S.

the Adidas collection will be available in stores and online starting Friday.

Thanks so much for joining me on THE STORY IS. I'm Erica Hill.

Stay tuned. The news continues right here on CNN after the break.

[01:55:54]

(COMMERCIAL BREAK)