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Best podcasts about bloomberg news now

Latest podcast episodes about bloomberg news now

Bloomberg Daybreak: Europe Edition
Introducing Bloomberg News Now

Bloomberg Daybreak: Europe Edition

Play Episode Listen Later Oct 28, 2024 5:36 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world. On Apple: http://apple.co/3Eyz9EX     On Spotify: http://spoti.fi/45IG5LR     Anywhere: http://bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Introducing Bloomberg News Now

Bloomberg Daybreak: US Edition

Play Episode Listen Later Oct 22, 2024 5:20 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world. On Apple: http://apple.co/3Eyz9EX     On Spotify: http://spoti.fi/45IG5LR     Anywhere: http://bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg News Now
Meta's Miss, Tech Selloff, More

Bloomberg News Now

Play Episode Listen Later Apr 25, 2024 6:22 Transcription Available


Listen for the latest from Bloomberg News Now.See omnystudio.com/listener for privacy information.

Bloomberg News Now
Meta Earnings Disappoint, Tech Selloff, More

Bloomberg News Now

Play Episode Listen Later Apr 25, 2024 6:39 Transcription Available


Listen for the latest from Bloomberg News Now.See omnystudio.com/listener for privacy information.

Bloomberg News Now
March 14, 2024: Samsung Chips Grant, Nippon Steel Deal, More

Bloomberg News Now

Play Episode Listen Later Mar 15, 2024 4:40 Transcription Available


Listen for the latest from Bloomberg News Now.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Oil Gains as Middle East Tensions Rise; Apple Watch Update

Bloomberg Daybreak: US Edition

Play Episode Listen Later Jan 18, 2024 16:31 Transcription Available


On today's podcast: 1) The US launched more strikes on Yemen's Houthis overnight as the Iran-backed militant group continues to roil global shipping markets with attacks around the Red Sea. 2) Oil nudged higher as twin incidents in the Middle East underlined the region's rapidly escalating tensions, which have already snarled global shipping and carry the potential for interruptions to crude production. 3) Apple Inc. will begin selling versions of its Series 9 and Ultra 2 watches without a blood oxygen feature in the US, following a legal setback in its patent dispute with Masimo Corp. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with rising tensions in the Middle East. The US carried out more strikes on Houthi targets in Yemen overnight, as the Iran backed militant group continues to go after red Sea shipping. This is at least the fourth US led attack on the Houthis in the past week. Major General pat Ryder speaks for the Pentagon. The objective here was to disrupt and degrade Hoothy capabilities to conduct attacks, and we believe that overall, in terms of the scope and the number of strikes that we took, we have degraded their ability to attack. Pentagon spokesman pat Ryder says the US targeted fourteen Hoothi missiles that were primed for launch. Meanwhile, Nathan Pakistan's military has carried out strikes against what it describes as terrorist hideouts in Iran. The move came after Iran attacked a separatist group in a Pakistani province along its border. Bloomberg's Middle East Economics and Government editor Paul Wallace says the escalator is very unusual. The two have a complicated but normally quite cordial relationship. This is pretty much unprecedented what we're seeing now with both of them striking each other's territory. Of course, they're not going for the other government as it were, They are going for what they call our terrorists in each other's territory. But I think what we're seeing is this is just the latest arena opening up in the wider Milesian conflict that began in early October when Hamas attack Israel, and Bloomberg's Paul Wallace says Pakistan is recalling it's envoy from Tehran. Well here in these latest incidents in the Middle East have oil on the rise. This morning, checking Nimax crewed, it's up eight tens of one percent. It's seventy three dollars fifteen cents per barrel. Meanwhile, the International Energy Agency says global oil markets are likely to remain reasonably well supplied this year, provided there are no major disruptions. Well, Nathan and the political front at home, the long awaited conversation between President Biden and congressional leaders over Ukraine AID did not yield results in Bloomberg said. Baxter has the story the GOP issue going in border border border at House Speaker Mike Johnson says that's what he talked about. I told the President what I have been saying for many months, and that is that we must have change at the border, substantive policy shame and says that was not in the offing. Different picture from Senate Majority Leader Chuck Schumer. If we don't come to Ukraine's aid that the consequences for America around the globe would be nothing short of devastating, and President Biden says he told congressional leaders that they must act now on the border. At Baxter Bloomberg Radio, all right, ed, thanks. Secretary of Saint Anthony Blincoln has been representing the US at the World Economic Forum in Davos this week. He left Switzerland yesterday, but not before a delay on the tarmac. There was an oxygen leak on his Boeing jet and it couldn't be fixed, so a smaller jet had to be flown in from Brussels to take b Lincoln back to Washington. Many of his aides and members of the press pool had to fly commercially well. Speaking of DeVos, Nathan Bloomberg News has been speaking all week to executives and politicians from around the world at the World Economic Forum This morning, we caught up with the CEO of Barclays Csvakata Krishnan defended his firm's investment banking division. We are the leading investment bank domicide outside of the United States, and what I find in my travels, especially in the world and the geopolitical world in which we live, is people are looking for a partner in a counterpart who's not just a US bank. Cs Venkata Krishnan ed of that Barclays has been reviewing its strategy for months. He spoke with Bloomberg's franc In Laqua at the World Economic Forum in Davos. All turning to Wall Street, Karen investors are waiting for another key economic report as doubt grows on when the Fed will start cutting rates. Let's get the latest with Bloomberg's John Tucker. John and Nathan Jobless claims could be particularly telling now that seasonal layoffs around the holidays are largely complete. Bloomberg Economics says there have been plenty of signs the labor market is weakening fast. This data comes as traders have recalibrated their wagers and the timing and extent of indust rate cuts. The swaps pricing shows the chances of a FED rate cut at March. Slip blows sixty percent for the first time since the middle of December. That's down from eighty percent just on Friday. The poly see sensitive two year yield jump fourteen basis points on Wednesday, its biggest one day gain since June. I'm John Tucker, Bloomberg Radio. All right, John, thanks. In corporate news, Apple we'll sell it smartwatches without a blood oxygen feature in the United States after it lost a legal dispute with the health technology company Massimo. The new models will still include the blood oxygen monitoring tool, but it won't function. And in another blow to Apple, Karen Netflix says it's not planning to launch an app for the Vision Pro headset. This is a sizeable omission for the thirty five hundred dollars technology, which debuts next month. Apple's banking on entertainment content to help market the Vision Pro. Netflix is a must have streaming service for many consumers, and staying in the tech sector here Nathan Cheryl's sen Berg, we'll step down from the board of Meta Platforms this year. We get more from Bloomberg's Doug Prisner. Sandberg joined Facebook in two thousand and eight as second to co founder Mark Zuckerberg, and she served as chief operating officer, helping to grow Facebook from a promising internet startup into a digital advertising powerhouse. Sandberg often served as the public face of the company, particularly among policymakers and regulators. She left the COO roll in twenty twenty two, but remained a director. At the same time, Sandberg began spending more time on philanthropic efforts. Now she'll serve as an advisor to Meta. It's unclear if Meta plans to replace Sandberg on the board. In New York Time, Doug Prisoner, Bloomberg Radio Hall, Ry Nathan, Thanks, it's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, good morning, Good morning, Karen. The Senate is set to hold a series of votes on the final passage of that stockgap funding bill. Senate Majority Leader Chuck Shutmer says it's next up to the House. We hope that the House will take up this bill before the Friday deadline, with bipartisan support. The stopgap funding bill is expected to easily pass the Senate today. The funding deadlines tomorrow night. The New Hampshire primary only days away. Nikki haley 'ron de Santa's trying to push ahead after Donald Trump's commanding performance in Iowa. Bloomberg Senior national political correspondent Nancy Cook tells us Donald Trump has turned his focus now to Nicki Haley. Trump is sending out missives about Nikki Hilly. They're advertising against her. He's doing rallies and what he's going to and he and his team are going to spend the week doing is really calling out Nikki Hilly on a bunch of policy positions past date means she's made on raising the retirement age, what she has said on China, and it's really going to be vicious for the next week. Bloomberg Senior national political correspondent Nancy Cook says Haley does need a strong showing in New Hampshire before moving on to her home state of South Carolina, which Cook says is Trump Country. The anniversary of the Supreme Court decision overturning Roe v. Wade comes up on Monday. Senate Democrats held a briefing on the state of abortion rights in the US, and they were joined by doctor Austin Dennard, an obgyn in Texas. We no longer have the basic human rights for freedom and self determination that my mother and her generation relied on for nearly fifty years. The lawmakers suggested the vast majority of Americans support the right to abortion, and that it should be women making decisions about their pregnancies, not politicians or judges. Fourteen Democrats are joining House Republicans and denouncing President Biden's border policies. A GOP resolution passed in the House yesterday with full Republican support, urging Biden to end what they call his administration's open border policy. Former President Trump says he is the one who should be seeing a payday from the Egene to Carrol defamation trial. A judge overseeing Carroll's defamation trial against Trump threatened to toss him out after Carroll's lawyers complained that he was making comments that the jury could hear global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morris, and this is Bloomberg. Karen, All right, Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand. That means whenever you want it, to subscribe to Bloomberg News Now, and you can get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. So nice time. Now for the Bloomberg Sports Update, here's John stash Hour. John Karny can forget about the idea of Bill Belichay coaching the Dallas Cowboys. Mike McCarthy is keeping his job. I'll be back for a fifth season. He's certainly had regular season success in Dallas, not so much in the postseason, where he's one to three, and of course the Cowboys were just upset at home by Green Bay. As for Belichick's old job in New England and now belongs to Gerard and Mayo, he was a former Patriots player and assistant coach. He actually had it written into his contract that he will replace fellowchick. I'm not trying to be Bill. I think that Bill is his own man. If you can't sell by now, I'm a little bit different even up here. But what I will say is, you know, the more I think about, the more I think about, like the lessons side I've taken from Bill hard work works. Mayo gets the job at the age of thirty seven. Trade the NBA Toronto, who made a big trade with the Knicks, recently made another one with Indiana. Sidney two time All star in Pascal Siakam to the Pacers for Bruce Brown and three first round draft picks. The Raptors then won by twenty four over Miami. The Celtics won easily over San Antonio once seventeen to ninety eight, and the Celtics are now twenty to zero at home. Lakers beat Dallas, Knicks beat Houston, Portland a two point win over Brooklyn College Basketball Yukon number one in the country now sixteen and two with a win over Creighton at the Australian Open. The top seat on the women's side, Aschiantek had some troubles but got by Danielle collins Ken's fish. There were bloomberg sport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Geopolitical risk has certainly not gone away for markets, but now it's getting even more attention following the latest US strikes on Hoothy targets in Yemen. There was another round overnight. Now Pakistan is engaged in tit for tit attacks with the Hoothy's main backer, Iran. All this as the war between Israel and Hamas rages on in Gaza. So for the very latest, we are joined by Bloomberg News Senior editor Bill Ferries. Bill start us off with the latest on these US strikes against the Houthies. What's the latest, Hi, Thanks for having me, Nathan ut overnight. It's just been a busy past several hours. Overnight, the US launched strikes on what it said were fourteen Houtie missiles and Yemen that they said presented an imminent threat to vessels in the region. They said these missiles were basically loaded and ready to be fired off, and that the US was acting preemptively to target them and destroy them before they could do more damage. It's the fourth round of US strikes or US led strikes on Yemen over really about the last week or so, and it came just hours after the UTIES managed to launch another attack on a commercial vessel, a US owned vessel in the Red Sea. So I think what we've seen is that these multiple rounds of attacks have not prevented the HUTIES from being able to still get some strikes in against ships in the Red Sea, and that of course has been a big disruption for global trade. You've got a lot of shipping companies trying to re route around the around the Tip of Africa or find other ways to get their goods to market, and we're seeing modest movement in the oil market in light of these latest attacks. Is there a risk now that the US could be drawn even further into action in Yemen, given that we are still seeing the HOO, the THEES managing to carry out strikes in the Red Sea. Yeah, I mean, I don't think there's nobody really at this point talking about some kind of a ground invasion or anything, but there are you know, the US and its allies have a lot of firepower based in the Red Sea. At this point there aren't nearly as many commercial vessels going through there, but they're still unable to stop these kind of attacks, and you have to start wondering how long can this go on? How long will global trade be disrupted, When will that really start to emerge in the prices that consumers pay for a whole range of goods, and what of course will be the human cost on all this. But it's certainly seems at this point that this could drag on for weeks, if not months, and this raises a question as well about whether Iran can bring any influence to bear here. But now we're seeing Iran engaged in attacks with Pakistan, and of course it continues to back has Balan of course Hamas in Gaza exactly, and they're actually even on top of all that, there was an Iranian attack on a facility in northern Iraq just a day or so ago. But yeah, the latest we found that Pakistan had a reprisal attack against Iran overnight responding to attacks from Iran. On Wednesday, they hit targeted strikes on what they said were militant hideouts in Iran. And this is not something that really anyone was really predicting. Even a weaker or so ago, you'd have Pakistan and Iran involved in some kind of a conflict. It does look like now that both sides are trying to find a way to talk each other down. You even have the Pakistan Army saying that it's a time for dialogue. It was a similar message coming out of Pakistan's Foreign ministry today. But it is a very unsettled situation, and of course both sides have to play to their domestic political constituencies. So while there is some expectation that maybe there's been a proportionate response and things will start to ease, there's no certainty of that at this point. And of course a Pakistan and Iran both have the support and alliance with China. Is there a role for China here in trying to bring some of these tensions in the Middle East down from a boil. Yeah. Publicly, China is not saying very much other than that it's tracking the developments and they said they want both sides to exercise restraint and calmness. But I would think you would think behind the scenes, China does not want to see two of its kind of key allies in that region fighting with each other. That's a big distress for it, I think. I think so far China has been happy to see the US taking the lead in places like the Red Sea. It has not engaged with the Israel Hamas conflict very much at all. But it doesn't want to see its partners starting to fight, you know, and militarily start to go after each other in such a critical part of the world. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app. Serious XMVI iHeartRadio app and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Progress Made to Avoid Government Shutdown; Lagarde Talks ECB Rate Cuts

Bloomberg Daybreak: US Edition

Play Episode Listen Later Jan 17, 2024 23:07 Transcription Available


On today's podcast: 1) Treasury Secretary Janet Yellen called on lawmakers to pass a temporary spending bill this week and avert a partial US government shutdown. 2) The European Central Bank is likely to cut interest rates in the summer, according to President Christine Lagarde. Interviewed at Bloomberg House in Davos by Francine Lacqua, she was asked if there could be majority support for such a move, given that several policymakers have signaled that timing. 3) Apple Inc.'s iPhone dethroned Samsung Electronics Co. devices to become the best-selling smartphone series over the course of 2023, the first time South Korea's largest company has lost the top spot since 2010. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin in Washington. That's where a temporary spending bill to avoid a government shutdown this weekend has cleared its first hurdle. Bloomberg's Amy Morris has more from the nation's capital. The Senate voted to advance the measure that will fund some federal agencies through March first and others through March eighth. The interim funding is the support of congressional leaders, including House Speaker Mike Johnson, so the prospects for passage in both chambers are good. Does not include several disputed items like eight for Ukraine restrictions along the US border or an eighty billion dollar business tax package. And there are hard right conservatives in the House who oppose funding agencies at current levels, but Speaker Johnson can bypass them by relying on Democrats for support. In Washington. Amy Moore as Bloomberg Radio. All right, Amy, thanks well. Now to the latest on the race for the White House. It's on to New Hampshire for the Republican candidates, and Bloomberg's at Baxter reports are really starting to heat up. Nicki Haley has been very careful not to directly attack Donald Trump, but one day after Iowa as she's calling him a bully and a liar. Trump lamb based Haley as a disaster. Now this all comes with polling that chowse the two very close. In New Hampshire, Real Clear Politics has Trump by about fourteen points, but the American Research Group even called it dead even at forty four percent, with Ron Desatus at only four percent. Tomorrow's schedule debate has been canceled because Haley declined if Trump wasn't going to be there at Baxter Bloomberg Radio, Okay, and thanks. Now let's turn to the Middle East. Israel and Hamas have reached a deal to deliver medicine and other aid to Gaza. That's according to the government in Kadra, which says this is in exchange for medicine reaching the hostages being held by Hamas. White House National Security Advisor Jake Sullivan says there is still a risk this war widens to a regional conflict. We do see a pathway to a shift in the military campaign in Gaza, a reduction in tensions and the exchange of fire along Israel's northern border, a reduction in the risk of escalation in other parts of the region, and we'll have to continue to deal with the Hoothi threat. National Security Advisor Jake Sullivan spoke from the World Economic Forum in Davos. Israeli President Isaac Herzog plans to bring the families of hostages to the slopes in Switzerland today to step up pressure for their release. Well, Nathan, back here in the US, we are waiting for a key economic group board as doubt grows on whether the FED will start cutting rates as soon as March, and we get the very latest with the Bloomberg's John Tucker, John and Karen. Retail sales probably increased in December. However, the control group sales, which strip out volatile items, that likely slowed to a more subdue pace. Traders are launching on every piece of data as the FAN enters a blackout period next week. Yesterday, Federal Reserve Governor Christopher Waller threw a little cold water around the idea of FED rate cuts as soon as March. With economic activity and labor markets in good shape, and inflation coming down gradually to two percent, I see no reason to move as quickly or cut as rapidly as in the past. With Wallner's comments, Transury suffered their biggest one day price drop in two months. Yield Seweragetan also drag stocks lower. John Tucker Bloomberg Radio, John thanks, rates are very much in focus overseas that the World Economic Forum. European Central Bank President Christine Legard said the ECB will probably cut rates by the summer. I would say it's likely too, but I have to be reserved because we're also saying that we are data dependent and that there is still a level of uncertainty and some indicators that are not anchored at the level where we would love to see them. ECB President Leaguard made those comments to Francine Lockwha at Bloomberg House in Davos. You can hear their full conversation on the Bloomberg Talks podcast. Well Nathan investors are scaling back their expectations for rake cuts from the Bank of England this year. Inflation in the UK unexpectedly accelerated for the first time in ten months. December's consumer price index was four percent higher than the previous year. On Wall Street, Karen JP Morgan Chase is bucking a trend, the bank plans to hire more workers. We caught up with JP Morgan president Daniel Pinto at Davos. We are employed at the end of the year around three hundred and twenty thousand people. So the number of people that employ has been growing and not ranking. So I think that where we see opportunities and we can have our clients, for sure, we'll focus on that. Daniel Pinto's comments come after JP Morgan closed out the most profitable year in US banking history. Also more banking news this morning, Nathan, the government is unveiling a long awaited rule that could slash the biggest bank's income from overdraft fees by as much as three and a half billion dollars each year. Under the regulation from the Consumer Financial Protection Bureau, banks would only be able to charge what it costs for them to break even for covering an overdraft or a bu by a specific cap that would effectively eliminate overdraft charges for customers, which right now average about thirty five dollars. Let's turn to some corporate news now. Karen Apple has reached a milestone. The company's dethroned Samsung to become the world's top phone maker in twenty twenty twenty three. IDC estimates the iPhone accounted for a fifth of the global market last year with close to two hundred thirty five million shipments. Apple's dominated recent holiday quarters, but the full year surge is unprecedented, and it suggests Apple is weathering an industry wide slump better than its rivals. And finally, Nathan, it was supposed to be the merger from Heaven, or at least from thirty thousand feet, but now a federal judges block Jet Blues three point eight billion dollar acquisition of Spirit Airlines. The judge says the combination with stifle competition and raise fares for consumers. Jet Blue and Spirit contended that consolidation is the only way smaller airlines can effectively compete with the dominant carriers. Time and not for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Amy, Good morning, Good morning, Karen. President Biden is worried about his supplemental bills stalling out in Congress, so he's inviting some of the key players to the White House today. Bloomberg's Nancy lyons with the latest. White House Press Secretary Karine Jean Pierre provided a list of those invited to the meeting, and then Biden will host congressional leaders from the Senate and the House, along with key committee leaders and ranking members. She says there's a lot to talk about, but President Biden has one topic he's especially concerned with. This is going to be about discussing critical importance of the President's Facial Security supplemental request. That's the proposal to further fund Ukraine, Israel, and Taiwan. Republicans are refusing to move on that until there's a consensus on a new border policy in Washington. Nancy lyons Bloomberg Radio. Secretary of State Anthony Blincoln says soil should be treated as a precious resource, telling the World Economic Forum in Davos that lack of food is causing unprecedented global migration flows at Russia's war in Ukraine and attacks by who they rebels and the Red Sea have made things worse. A parent who can't put food on the table for their children picks up the family and moves because it's the most basic thing, the most important thing that they can do. Lincoln says, the problem is likely to get worse as climate change threatens to reduce crop yields. Now Climate Envoy John Kerry, also at the World Economic Forum, says he's stepping down from the role within the Biden administration so he can take on a more vocal position for the Biden campaign. He assured other world climate leaders that yes, he'll still be around. I'm going to stay at this and there are so many different ways to continue to be able to be engaged in this. So unfortunately you're stock. You'll see me at the copy you see. Rivia Carrie says regardless of who wins the election, the global climate agenda will remain solid, and the World Health Organization says the number of adult tobacco users is on the decline. The organization says the biggest decrease in tobacco use is seen happening in lower to middle income countries. We have nineteen million less smokers than we had two years ago. That is the first time that we see such a decline. Doctor Rudiger Kresh is urging countries to continue putting control policies in place for tobacco. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg Karen. All right, Amy, thank you. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Charny Atlanta Falcons, one of seven NFL teams looking for a head coach at indications that the Falcons are looking for a big name to be their new coach. The day after they interviewed Bill Belichick, they interviewed Jim Harbaugh, who previously had already interviewed with the Los Angeles Chargers. So Harbaugh clearly hasn't interest in returning to the NFL and leaving Michigan, where he just won a national championship. Reportedly, Harbaugh if he stays with Michigan wants it written into his contract that he can't be fired due to NCAA violations. Mike Tomlin has reportedly told his team in Pittsburgh that he'll remain as coach of the Steelers. It's the job he's had for seventeen years. The Steelers had only had three different head coaches in the last fifty four years. Jason Kelsey told his teammates in Philadelphia just after that blowout loss at Tampa Bay at the end of their season that he's retiring at age thirty six, thirteen years all with the Eagles. He won a Super Bowl, He went to the Pro Bowls seven times. Taulliat tadabaloo. That's to his younger brother, who's been playing quarterback for Maryland. Denied a waiver for another year of eligibility, so he journing the Pro Battle. The NBA's top two big man and Joe lmb And outplayed the Kola Yokiz. He scored forty one points in the second straight game. Philadelphia beat Denver one twenty six one twenty one big comeback and Phoenix, led by Kevin Durant, they were down twenty two to the fourth court of the Sun's rallied top Sacramento by two. Hockey of the Capitals are two nothing to win over Anaheim, kyl and Shops second right, Purdue an easy win at Indiana. John Skashanwer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on siriusxam, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. European Central Bank President Christine Legard says aggressive bets on interest straight cuts from the financial markets are not helping policymakers with their task to bring down inflation, but she says it is likely the ECB will cut rates in the summer. Madame Lecguard spoke with our editor at large France seen Lockwow from the World Economic Forums Bloomberg House in Davos, Switzerland. Let's listen in to part of that conversation. Now, when you look at inflation, when you look at monetary policy, what's changed your mind on how quickly we get a cut from the ECB? You know, when I look at a year ago in doubles and when I compare that with where we are today, I see a slope downward, but certainly not a slope which is at target where we want it. So that's what we have achieved. I think in a little over a year, bring inflation back from where it was in October twenty two at ten point two percent down to a two point nine percent month and month December, and certainly with the prospect of keeping it down and further down because our target is two percent and we are you know, I would have said a year ago that we are determined we want to get it to SI I would say to you now that we are confident that we will get it to that target two percent medium turn. Are market's too optimistic on the industry. I'm not going to comment on markets. Markets do their job, they have their numbers, they have their objectives. What we do at the CB, and what I think most central banks would do, is work as hard as we can collecting data using artificial intelligence by the way for that, analyzing data, confronting viewpoints, checking models against empirical data, doing scenario analysis, and being as as comprehensive as we can to anticipate what's coming. And it's hard because what many people don't understand is that monetary policy works with a lag. So whatever we do now is going to have an impact in a few months and sometimes a year or two, and we have to take that in account to decide what we do, how long we hold, and what decision we make in due course. When you say that you gather data also with AI, it does AI also analyze because again you're looking at the current data. You're trying to forecast what your monetary policy is doing in the future. So is it algorithms? Like, how does that work? We do data collection a lot, we don't We don't determine monetary policy using algorithm and artificial intelligence. And I think that time we can check with the AI experts, of course, but I don't think that that time has come yet. When you look at again the forecast, and I understand you're not focused on the market, but if the markets prices that are not focused, we look at them, we look at what they say. We are attentive, but everyone has their job and we cannot, you know, sort of second guess what they will think that we are thinking that they are second guessing. I mean, it's it's a catch twenty two job, right, But if the market is too optimistic about cuts, does it actually hurt and not help the fight against inflation by doing that? I was going to ask you that, So it makes sure your job harder if if they're actually mispricing what you're trying to tell them, it is not helping a fight against inflation. If if the anticipation is such that you know, they are way too high compared with what's likely to happen. Is it too early to cry victory against inflation? How do you see it behaving? We are on the on the right path, We are directionally towards the two percent. But unless and until we are confident that it is sustainably at two percent medium term and we have the data to you know, support it, I'm not going to shout victory. No, not yet. How much is the inflation reduction thanks to your monetary power and how much of it is like, No, I wouldn't call it luck. I think two factors have played a critical role, and it's the decline in energy prices that we have observed. You know, energy prices pushed prices up massively, and energy prices decline of course has a similar impact. So that's number one. Number two the bottlenecks that we have observed as a result of COVID in particular, and which lasted quite a lot of quite a long time, has gradually faded out, and that also had an impact, you know, more supply, more availability of goods. Second factor. The third factor is monetary policy, and it's undoubtedly been effective, if only to anchor inflation expectations, which we know is really important. So it has had an impact on inflation itself, but it has definitely had an impact on inflation expectations, which by all accounts and all surveys and all measurements have come down and are really now broadly onto that two percent medium term target that we have. I know it's obsessive two percent medium term targets, but yeah, that's what it is. Yeah, but at least it's auld guide the markets, right, I mean, it's good to be upsetsed. Well, if they don't know that that's what we are aiming for, then they need to have the head examined, that's for sure. And then again talk to me a little bit about wage bargaining. So again is that going to be on the upside and could that change you know, the timing of a possible work. Well, I'm glad you mentioned wages in general, wage bargaining in particular, and I'll go to that, but I want to tell you that there are three things that I'm watching carefully. Wage bargainings, profit margins, energy prices, and hopefully not but the coming back of supply bottom Miex. Those are four key components which could have a serious impact on the work that we're doing against inflation. But back to your wage question. Wages have gone up, but relatively slowly, so in prices have gone up earlier and faster than wages, so we are now facing a moment of not only some degree of alignment, but catch up as well. So employees have lost purchasing power in the course of twenty one twenty two, and there is now a catch up effect in the bargaining discussions that are taking place. We will know a lot more, probably in April May, because the numbers the bargaining agreements are being negotiated in the first quarter of every year, and the results come in after the agreements have been closed, so that gives us indication that we can corroborate and verify in the late spring, I would say of of twenty four, that will be a strong indication our wages slowly catching up, and that catch up process will take place over the course of two or three years possibly, or is there a very strong catch up coupled with an alignment with inflation, which would give me concern because while we're not seeing today's second round effect, that could be the result of this sort of twofold process. Are you confident there will be a cut this year in interest rates? Confident? I'm confident that short off another major shock, we have reach reached a peak. Okay, Now we have to stay restrictive for as long as necessary to make sure that we get to that state where we're all saying, okay, confident that it is at two percent medium term. I know some people argue that maybe we are overshooting, maybe we're taking risks. I think the risk would be worse if we went too fast and had to come back to more tightening, because we would have wasted all the efforts that everybody has put in the last fifteen months. The US election, Yeah, let me have some coffee. How arid are you about the US election? It's for the American people to decide what they want with their politics, with their government. With their future. But obviously we are all concerned about it because the United States is the largest economy, the largest defense country in the world, and has been a beacon of democracy with all its upside and downside. But this is what they should be considering, and of course we cannot interfere with their choice. It's their choice and that's the beauty of democracy. But we have to be extremely attentive and anticipate, just as we do with inflation. You know, we do scenarios. What if, what if? Then what do we do? Because that's the real question. And you know where I sit now in Frankfurt, head of the ECB, I think that we have to be strong as Europeans and not assume that we can rely on whoever our friends are around the world, because these things change over the course of time, as we have seen. So what if Donald Trump gets into the White House, what are some of the policies that europe could be put in place to not be cut also between China and the US with Donald Trump and the White House. Well, for one, it has to be strong of its own and if I look at my own shop, because it matters to monetary policy transmission, I think that and you will hear that from others. We have to accelerate capital market union. We need financing in Europe. There is a lot of saving in Europe, and we have to make sure that those savings actually stay here to finance what needs to be financed, which is predominantly the climate transition, which is digitalization, which is enough industrialization conducted with a targeted approach so that we can on the key in the key areas be self sufficient. Are there policies that you would put in place now for Europe to I guess counter the US exceptionalism, which you know could be questioned going forward. I think I would accelerate many of the initiatives that have been taken, and I would encourage European leaders to put aside a little bit they respective idiosyncraty idiosyncratic differences to be more together because you know, it's a question of off size and scale, and Europe is a very large market, has a very sizable population, has capacity to innovate, has financing. It has to you know, be a little bit more cohesive together and forward looking. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak and beSee 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Odd Lots
Introducing: Bloomberg News Now

Odd Lots

Play Episode Listen Later Dec 19, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.        on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Blood River
Introducing: Bloomberg News Now

Blood River

Play Episode Listen Later Dec 18, 2023 0:52 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.      on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Zero: The Climate Race
Introducing: Bloomberg News Now

Zero: The Climate Race

Play Episode Listen Later Dec 18, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.       on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

P&L With Paul Sweeney and Lisa Abramowicz
Introducing: Bloomberg News Now

P&L With Paul Sweeney and Lisa Abramowicz

Play Episode Listen Later Dec 17, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Bloomberg Businessweek
Introducing: Bloomberg News Now

Bloomberg Businessweek

Play Episode Listen Later Dec 17, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Bloomberg Surveillance
Introducing: Bloomberg News Now

Bloomberg Surveillance

Play Episode Listen Later Dec 17, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.        on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

The Big Take
Introducing: Bloomberg News Now

The Big Take

Play Episode Listen Later Dec 17, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.      on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Bloomberg Businessweek
Introducing: Bloomberg News Now

Bloomberg Businessweek

Play Episode Listen Later Dec 17, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Decrypted
Introducing: Bloomberg News Now

Decrypted

Play Episode Listen Later Dec 15, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

What Goes Up
Introducing: Bloomberg News Now

What Goes Up

Play Episode Listen Later Dec 15, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Crash Course
Introducing: Bloomberg News Now

Crash Course

Play Episode Listen Later Dec 15, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.        on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Trillions
Introducing: Bloomberg News Now

Trillions

Play Episode Listen Later Dec 15, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Trillions
Introducing: Bloomberg News Now

Trillions

Play Episode Listen Later Dec 15, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.      on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Masters in Business
Introducing: Bloomberg News Now

Masters in Business

Play Episode Listen Later Dec 14, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

In Trust
Introducing: Bloomberg News Now

In Trust

Play Episode Listen Later Dec 14, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

In The City
Introducing: Bloomberg News Now

In The City

Play Episode Listen Later Dec 14, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.See omnystudio.com/listener for privacy information.

Merryn Talks Money
Introducing: Bloomberg News Now

Merryn Talks Money

Play Episode Listen Later Dec 14, 2023 0:51 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.        on Apple: trib.al/Mx9TCh1     on Spotify: trib.al/T4BG8s4     Anywhere: trib.al/O4EX6BASee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Israel Resumes War Against Hamas; Historic Month for Markets

Bloomberg Daybreak: US Edition

Play Episode Listen Later Dec 1, 2023 16:44 Transcription Available


On today's podcast: 1) Israel resumed combat against Hamas in the Gaza Strip after a week-long truce between the two sides ended on Friday morning. 2) European stocks advanced and the dollar fell before comments from Federal Reserve Chair Jerome Powell that may offer clues about the path of interest rates. 3) After two years of delays and production snags, Tesla has finally handed the first Blade Runner-esque Cybertrucks over to customers. 4) Governors Ron DeSantis of Florida and Gavin Newsom of California sparred over taxes, border security and energy, in a debate that unfolded as a sideshow to the 2024 presidential race — and perhaps a glimpse of the next one.   Full transcript:  Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Israel has resumed airstrikes in Gaza, minutes after the expiration of a week long truce with Hamas we get the latest from Bloomberg's Anthony Squasien in Tel Aviv. Truce wasn't extended at seven am local time. It was some rocket warnings miss I was being fired and to Israel just before that ended, and Israel responded immediately, and it looked like we're back to fully fledged conflict right now. Reports of air strikes in Gaza made different parts of Gaza, and it does seem that the relative calm of the last seven days is well and truly over. Bloomberg's Anthony Squasiin in Tel Aviv, says Prime Minister Benjamin Netan. Yahoo and other Israeli politicians had consistently said the war would resume at some stage and the truce would not become permanent. Well, Nathan. Secretary of State Anthony Blinkin was in Tel Aviv when the fighting restarted yesterday. He said that Israel must defend itself within the confines of international law. Way israel defense itself matters. It's imperative that is relacted in accordance with internationally mediterran law and the laws of war, even when confronting a terrorist group that respects neither. And Secretary Anthony Blincoln was speaking before the latest escalation. Hamas and other Islamist groups are still thought to be holding around one hundred and thirty people captive in Gaza. Turning back to politics in the US, Karen, there's been a debate between a Republican who's running for president and a Democrat who says he's not. Florida Governor Ron de Santis squared off last night with California Governor Gavin Newsom. This is a slick, slippery politician whose state is failing. People are leaving a state. Governor DeSantis went after Newsom and California over immigration, high taxes, and crime. Governor Newsom touted the White House's message of Bidenomics three point nine percent unemployment, the lowest black unemployment in American history, the lowest unemployment for Hispanics in American history, the lower most unemployment for women in seventy years, at lowest black poverty rates in history, and the Fox News debate comes as DeSantis struggles to gain ground on Republican front runner Donald Trump in twenty twenty four. It also allowed Newsome to air his presidential ambitions for twenty twenty eight. Well, Nathan, Let's turn to the markets now. Stocks begin December after notatching one of the biggest November rallies on record, and we get more from Bloomberg Stirlei Pellett. After the months three trillion dollar serge, the S and P five hundred is now just five percent away from its all time high. The gauge climbed over eight percent in November, a feat achieved fewer than ten times for that month since nineteen twenty eight, according to data compiled by Bloomberg. It was also the gauge's best month since July of twenty twenty two in New York, Charlie Pellett, Bloomberg Radio and Charlie. Was also a profitable month for bond investors. In fact, treasuries had their best month since the nineteen eighties, and we get more on that from Bloomberg's John Tucker. The boon to bonds comes from signs the economy and inflation are slowing and the Fed is done hiking interest rates well. Traders are even betting on the first FED rate cut in May. Bloomberg Economics sees the FED cutting rates one hundred and twenty five basis points next year. The Bloomberg US Aggregate Index returned four and a half percent of November. That price up and yield down has spurred an everything rally, from stocks to cryptocurrencies. Does it continue? Listen closely today as FED Chair Jerome Powell speaks at Spelman College in Atlanta, and if he sounds even a little hawkish, November's rally may turn into the winter of our discontent. I'm John Tucker, Bloomberg Radio. All right, John, thank you. By the Federal Reserve's top bank, a watchdog wants lenders to be more comfortable turning to the Central banks discount window. Michael Barr, the FEDS Vice Chair for Supervision, towed to the backstop as an important tool for financial stability and monetary policy. The discount window provides ready access to funding that can help banks manage their liquidity risks. The ability to access funding at a predictable rate throughout through the discount window should figure importantly into banks liquidity risk management plans under a range of scenarios and the fence. Michael Barr added that it was important that lenders have a range of options for accessing liquidity struck some corporate news now Karen. After two years of delays and production snags, Tesla has finally handed the first cyber trucks over two customers. Tesla's CEO, Elon Musk, says it has an extra safety feature. Why do you make it bulletroof? I'm like, why not? Do you want to How tough is your truck bulletproof? He says. Elon Musk says the cheapest version of cyber Truck will cost just under sixty one thousand dollars. That's more than fifty percent over the price Musk floated when he announced the vehicle in twenty nineteen. Well Nathan Disney has restored its dividend. The entertainment giant declared a dividend of thirty censorsh for the second half of its fiscal year. Disney had pledged to restore the payout, which was halted during the pandemic. Disney has been under pressure to improve its performance and restore its dividend by activist investor Nelson Peltz, who is seeking board seats at the company. Well, speaking of under pressure, Karen, take a look at Dell shares. They are down nearly six percent in early trading. A company reported revenue that declined more than expected, and it continues to see sluggish corporate demand for personal computers. And it's time now for a look at some of the other stories making news around the world. For now, we're joined by Bloomberg's Amy Moore is Amy. Good morning, Good morning, Karen. The twenty twenty three United Nations Climate Change Conference, or COP twenty eight, launched yesterday. Now before the summit began, United Nations Secretary General Antonio Guterrez warned fossil fuel companies quote their old road is rapidly aging. It's time to end our addiction to fossil fools that is validating climate change. It's time to bet on guaranteeing through strong political will, that temperatures will authorise more than one point five degrees. At the end of the center, the United Arab Emirates, which is hosting the summit, announced a commitment of thirty billion dollars to help finance climate solutions. Tens of thousands of delegates are expected to make this the biggest summit ever. It is looking likely that Congress will take the unusual step to expel one of their own. Bloomberg's Nancy Lyons reports George Santos, on the brink of being kicked out of Congress, took his fight to the House floor. I have been convicted of no crimes, mister speaker, but following an investigation by the House Ethics Committee, members said they did find some troubling behavior. Committee chair Congressman Michael Guest offered highlights of the report. It says it Representative Santos sought to fraudulently exploit every aspect of his House candidacy for his own personal profit. After the ex fulshion vote, Santos still faces a twenty three count federal indictment that alleges he stole from donors and used campaign money for personal expenses in Washington, Nancy Lyons Bloomberg Radio. The CDC is monitoring a pneumonia outbreak among children in the Cincinnati area. Warren County, Ohio has reported one hundred and forty two infections since August. The outbreak comes amid China's surgeon hospitalizations, which CDC director doctor Mandy Cohen told Congress yesterday, is not being caused by a new virus. Do not believe this is a new or novel pathogen that we believe this is all existing, meaning COVID flu RSV. Cohen told Congress. The winter cold and flu season offers the CDC a chance to regain the public's trust, and former White House Chief Medical Advisor doctor Anthony Fauci is set to testify before Congress early next year on the origins of COVID and the pandemic response by the US. This would be the first time Fauci has testified since he retired. Global News twenty four hours of and Whenever You want it with Bloomberg News Now, I'm Amy Morrison. This is Bloomberg Karen all right, Amy, thank you. What we do bring you news throughout the day right here on Bloomberg Radio. As Amy said, but now also as she said, you can get the latest news on demand whenever you want it. So how do you do it? You subscribe to Bloomberg News Now to get the latest headlines at the click of a button. You can get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John darn Week thirteen underway Thursday night football in Dallas with the Cowboys. We're going for a fourteenth consecutive home victory. They trailed Seattle throughout the second half until at dak Prescott touchdown passed with four thirty seven laft. Cowboys won forty one to thirty five. Prescott having an MVP type season, he threw British GIAT three hundred yard three touchdowns Gino Smith the Seahawks qv also threw for three touchdowns, all of them went to DK Metcalf, but the Seahawks have now lost three in a row. They dropped to six and six. Buffalo Bills pass rusher Von Miller was facing in arrest. The rest warrant was issued last night in Dallas. He turned himself in. He's in Dallas because the Bills have a bye week. He was arrested on domestic violence charge in a case involving his girlfriend. The NFL on the pass has flex games moved them from the Sunday afternoon to Sunday nights. Never before had they flexed the game into a Monday night. They've done that for a week fifteen. Philadelphia and Seattle were supposed to play Sunday, It'll now be on a Monday, and Kansas City, New England moved from a Monday back to a Sunday. Shows you how bad the Patriots are for the NFL. The new Patrick Mahomes off of Prime time NBA. The Warriors with the Clippers won twenty to one fourteen. Steph Curry scored twenty six, had seven rebounds, eight assists. Hockey. The Bruins had lost three straight. They came home shut out the Sharks three to nothing. Washington won it Anaheim five to four, a win for LSU that have any national Champson women's basketball Angel hes Back in the lineup scored nineteen. She had been out the last board games. John Stshawer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. The truce is over in Gaza. The seven day ceasefire between Israel and Hamas has ended. Israel is resuming combat operations after Israel said Hamas violated its agreement that has released dozens of hostages over the last seven days in exchange for Palestinian prisoners. For the latest we were joined by Rosalind Mathison, Bloomberg News Director for Europe, Middle East and Africa. Roz, thanks for being with us once again. What set off this resumption of combat, Well, basically, the truce was due to lapside of the way in the early hour this morning. What we had seen previously was that the SEASPI was rolled over for two further days, and there had been talks to try and get it rolled over again. Those clearly weren't successful, and so that the SEASPI lapsed early this morning. And what we have is Hamas and Israel both accusing the other of violating the terms of the Sea SPI, not meeting the agreements about the release of Israeli hostages yesterday, the number of those hostages, Harmas accusing Israel in turn. And now we've seen a resumption of the fighting. As you say, we saw airstrikes into Gaza this morning. We know the fighting's going on there again. Hermas says there have been casualties and wounded at hospitals already, and Israel is making clear that their goal in the end still is to eradicate Hamas, and as part of that they now see the military campaign likely moving further south in the Gaza strip. It's been quite concentrated in the north. But the messaging today, the warning to people in Gaza today is be prepared because the military is going to now push further sout. And the messaging from the US with that expectation that the war would be heading to the south, was that Israel needs to limit civilian casualties. Talk about US diplomacy, the role that's playing there, and whether that could have any impact on what we see on the ground, well, that's right. In fact, the US Secretary of State Anthony Blincoln was still on the ground in Israel when the fighting did resume. He took off shortly afterward for Dubai to attend the COP twenty eighth summit, but in his meetings in Israel, he said he made very clear to officials there that the US is concerned about the humanitarian situation inside Gaza that they're urging Israel to do everything they can to limit the impact on civilians from this war and to also uphold international humanitarian law. And that was the public messaging, so privately you can imagine it was possibly a bit stronger. I mean, you can see the rhetoric shift really from the US since the start of this in October seven, which was the Hamas attack on Israel. The US does remain strongly supportive of Israel in this, but has become more vocal in their concerns about the impact on gas. And certainly that was a message that Blinkl was delivering on the ground. And even as the fighting continues, we're hearing from Kater, which has been leading negotiations on extending the ceasefire, that there are still talks underway to bring in further pauses. Can you give us further clarity on that? Well, that's right. In fact, even when the fighting was going on before the truce, we knew those lines of communication were working quite furiously. Katar, alongside Egypt and US officials acting as go betweens between Hamas and also Israel, and a role potentially for Iran in all of that. The idea was to get towards that initial truce that we saw that lasted for seven days in the end, and Kata has been out this morning very quickie to say despite the resumption of the fighting, those talks are still going on. It is hopeful that there can be a way back to at least other temporary truce. That's because there are still Israeli hostages inside Gaza that we know, and aid agencies that hope to get more humanitarian aid into Gaza during that window which has now shut at least for now, And so Kata is saying, we're still talking about there. We're hope you can get to a point to at least have a temporary truce. But the reality in the end also Israel has made very very clear that they intend to keep fighting. Their overarching goal is to eradicate Hamas, and right now they don't see that goal as having been met, only have a minute left ros. But before the fighting began, the New York Times reported that Israel got a hold of Hamas's battle plan for October seventh, more than a year ago. Tell us more about that, well, that's right. In fact, this was also reported by an Israeli media outlet Khan Media a couple of days ago, saying that Israel did get blueprints of this plan by Hamas a year ago, but dismissed it as too difficult for Hamas to carry out, implausible, and so didn't really follow up on it. And that echoes some of what we've seen from the reporting we've done ourselves, which is really this presumption on the part of the Israeli security forces the intelligence services, that Hamas wasn't able to do something of this nature, that yes, you'd see six skirmishes go on from time to time from Gaza into Israel, but that a full throated attack was impossible, and that's why in the end they kind of missed the signals leading up to the October seven attack. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York Bloomberg ninety nine to one in Washington. Bloomberg one six to one in Boston and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Remembering Henry Kissinger; Israel-Hamas Truce Extended; Musk Curses Out Advertisers

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 30, 2023 23:27 Transcription Available


On today's podcast: 1) Henry Kissinger, the child refugee who rose to become US secretary of state and defined American foreign policy during the 1970s with his strategies to end the Vietnam War and contain communist countries, has died. He was 100. 2) Israel and Hamas agreed to lengthen their truce for at least another day, allowing for the release of more hostages held by the militant group in Gaza. 3) Elon Musk, the billionaire owner of X, says the advertisers that have stopped spending on the platform due to his endorsement of an antisemitic post can “f——” themselves.   Full transcript:  Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the passing of a man who defined foreign policy in the nineteen seventies and worked to shape it for decades. After Henry Kissinger has died, Bloomberg political contributor Rick Davis says Kissinger's influence was unmatched. It's quite a career that lasted my entire life. I would say that we've not seen much of the likes of him, somebody who has never been elected to office, but wielded as much power as any powerful president or prime minister in the world. Kissinger was credited with opening the door to China and achieving detente with the Soviet Union, but he courted controversy for supporting massive bombing campaigns in Vietnam and Cambodia. Bloomberg's Ian Marlow says Kissinger leaves a complicated legacy around the world, in Asia in the Middle East. Could be a polarizing figure, but I think that was in part because he embodied that sort of American power. He was one of the people at the center of American power, and over a long period of time when the US role in the world was also changing, and it is to some extent and end of an era, and that era continued right to the end. This past July. In fact, Henry Kissinger met with Chinese President Shi Jinping in Beijing to discuss US China relations. Henry Kissinger died yesterday at his home in Connecticut. He was one hundred years old, and Nathan we turn out to breaking developments in the Middle East, Israel and Hamas have agreed to extend their truce for at least another day. The two sides announced the extension just minutes before their ceasefire was due to end. Head of the announcement, Secretary of State Anthony BLNCN explained what he hopes to achieve during his visit to the region. We'll discuss with Israel how it can achieve its objective of ensuring that the terrorist attacks of October seventh never happen again, while sustaining an increasing amount of train assistance and minimizing further suffering and casualties among Palestine civilians and Secretary of State Blincoln is currently in Tel Aviv for his third visit since the attacks. He will also visit the West Bank, the visit comes as more captives were exchange yesterday evening, with ten hostages released by Hamas in exchange for thirty Palestinians held by Israel. And back here in the US, Karen House Speaker Mike Johnson says he has real reservations about expelling Congressman George Santos. We get that story from Bloomberg's At Baxter, the resolution says the vote needs to happen today, but Speaker Johnson says, for him, there are some real problems here. I personally have real reservations about doing this. I'm concerned about a president than may be set for that. So where everybody's working through that and we'll see how they vote. Sados will be the first expulsion without a conviction on charges. Johnson at one point yesterday said the vote would come Friday, but the resolution does say today, so we'll see how it works out. At Baxter Bloomberg Radio, All right, ed, Thanks well. Elon Musk is talking about the future of ex following and advertising boy and we get the latest from Bloomberg's John Tucker. John what the boycott is going to do mus says is kill the company, and who does he blame? Well, not himself, but the advertisers he herald in an expletive their way, saying they can go bleep themselves. Those advertisers include Walt Disney and Apple. Earlier this month, Musk agreed with a post that said Jewish people hold a dialectical hatred of white people. Well, that message has since drawn widespread criticism. On stage at the New York Times Deal Book conference, must did say the post was the worst and dumbest he's ever done. Mustourage people to judge him by his actions rather than his words. He brought up his electric car company, Tesla, saying he's done more for the environment than any human. I'm John Tucker, Bloomberg Radio. All right, John, thank you. Now, let's take a look at some stocks on the move this morning. Shares of Salesforce are up nearly nine percent. The San Francisco based software company gave a profit forecast for the current quarter. The top D analyst estamates Salesforce is benefiting from its cost cutting program. Meanwhile, Nathan Snowflake is up about eight and a half percent. The company gave a product sales outlook for the current quarter that beat expectations. That's fueling hope that revenue is stabilized after the software and maker experienced a dramatic slowdown in growth during the past year. Turning to the economy, differing views on inflation from two Federal Reserve Regional Bank presidents. Atlanta FED president Rafael Bostik says he's growing increasingly confident that inflation is firmly on a downward path. On the other hand, Richmond FED chief Thomas Barkins tell CNBC he's not yet convinced. There's no precision that anyone can point to at exactly what is the level of rates that exactly handles inflation and exactly the way you want to handle it, and so you're constantly trying to adjust on the flot. Both Thomas Barkin and Rafael Bostik will be voting members of the FOMC next year. Well. In corporate news, Nathan Online, a job search company, Indeed is canceling the monthly mental health days it introduced during the pandemic. Can we get this story from Bloomberg's Ellie Pellett. It joins a growing group of firms pairing back benefits they rushed to provide during the COVID nineteen crisis. Indeed initiated so called you Days in June of twenty twenty, giving all employees the same day off each month out of time when exhausted staff were taking fewer vacation days because of travel restrictions. Three years later, employees are once again booking time off at a similar rate to before the pandemic, so the company said quote. As a result, we have agreed that the global need for you days has passed. In New York, Charlie Pellett, Bloomberg Radio and Charlie, we just got inflation data from the Eurozone. It cooled more than expected. Consumer prices rose two point four percent from a year ago in November. That was down from two point nine percent the previous month and less than all estimates of economists surveyed by Bloomberg. Sorry, Nathan, Thanks, It's time now for a look at some of the other stories making news around the world. For that, we're joal by Bloomberg's Amy Morris Say good morning, Good morning, Karen Ultra. Conservatives in the House of Representatives have now softened their demands for deep spending cuts to domestic programs, heightening the odds that two parties can reach a spending agreement and avert of partial government shutdown in January. The shift came after the House failed to pass bills at the lower spending levels demanded by the House random Caucus. They've been pushing for one hundred twenty billion dollars in cuts. This softer stance gives House Speaker Johnson Moore a room to negotiate a bipartisan spending bill, as senators from both parties want to add fourteen billion dollars in spending by designating it an emergency not subject to that cap. As lawmakers consider an aid package to Israel, Senate majority leader Chuck Schumer is issuing a warning. Bloomberg's at Nancy Lyons has that part of the story. Senator Schumer, who is the highest ranking Jewish elected official in the country, spent forty five minutes on the Senate floor to crying the rise in anti Semitism at a level not seen in decades. The normalization and excusation of this rise and hate is the danger many Jewish people fear most. The Anti Defamation League says anti Semitic incidents of nearly quadrupled since the onset of the Israel Hamas War. Schumer says It's time for a clear throated denouncement of the hate in Washington, Nancy lyons Bloomberg Radio and that new poll shows the number of college students experiencing or witnessing anti semitism is also up this academic year. That poll by the Jewish led Anti Defamation League and Hillel International found that nearly three in four Jewish students and forty four percent of non Jewish students saw or experienced anti Jewish ideas since the start of the twenty three to twenty four school year. A very special holiday display. Now at sixteen hundred Pennsylvania Avenue, the White House South Lawn has an ice skating rink to celebrate the holidays. First Lady Jill Biden unveiled the rink with skating performances from figure skaters and Peanuts characters. What's more magical and wonderful and joyful then, you know, being on an ice rink in the South one of the White House. Who knew right A, Military, families, first responders, and other special invited guests can enjoy the White House skating rink in December. It will not be open to the public. Global News twenty four hours a day, and whenever you want it with Bloomberg News Now. I'm Amy Morrison. This is Bloomberg Karen right, Amy, Thank you well. We bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Daron upset in college basketball. They stormed the court in Fayetteville after Arkansas and opt off seventh rank Duke eighty to seventy five North Carolina ranked seventeen, put up sixty one points in the first half in Chapel Hill and beat tenth thrank Tennessee one hundred and ninety two. So they split fourteen games in the acc SEC Challenge over the previous two nights. They both won seven times. A couple of bad teams at the NBA's Eastern Conference, the Pistons the Wizards. They played the other night. Washington won, but the Wizards lost in Orlando, won thirty nine to one twenty. The Magic thirteen and five on the year. The Wizards are three and fifteen. The Pistons are two and seventeen. They bought fifteen games in a row. Blown out at home, Lakers won one thirty three to one oh seventy. Angelo Russell scored thirty five. Seahawks and Cowboys ticking off Week thirteen tonight in Dallas. They both played last Thursday. Cowboys won easily and Seattle lost to the forty nine Ers. These two teams are in second place in the NFC East and West. The teams that are in first place in those divisions the Eagles and forty nine Ers, and they play Sunday. That's the big game of Week thirteen. It's a rematch of last year's in at Championship. Joe Flacco now with the Cleveland Browns. They brought him in when the Shawn Watson went down. He's gone from third string QB to second and Dorian Thompson Robinson is in concussion protocol, so Flaco may start Sunday against the Rams. Patriots not saying anything official as usual for them, but it sounds like mac Jones goes to the bench. Bailey ZAPPI expected to start on Sunday. John stashed were Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias exam the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We want to reflect more on the life and legacy of Henry Kissinger, who died yesterday at his home in Connecticut at the age of one hundred. Kissinger was born in nineteen twenty three in the German state of Bavaria. He moved to the US in nineteen thirty eight to escape Nazi persecution. The son of a Jewish school teacher. At age nineteen, while a student at the City College of New York, Kissinger was drafted into the army in the US, serving as an interpreter during World War II, and after the war he helped round up Gestapo officers as a member of the nine hundred and seventieth Counter Intelligence Corps. Kissinger spoke earlier this year with Bloomberg's editor in chief John Micklethwaite, and said he saw the first hand impact of authoritarianism and totalitarianism in his youth. It was an experience which it's so elemental then it becomes part of you. Kissinger brought that experience back with him to the United States. He resumed his studies at Harvard University. His doctoral dissertation there focused on balances of power in nineteenth century Europe. As a tenured professor at Harvard, Kissinger honed of the conservative real politic worldview that would dominate his thinking on foreign policy for more than a half century. Kissinger also cultivated relationships with policymakers in Washington that led him to the White House in nineteen sixty nine as National Security Advisor to President Richard Nixon. Kissinger's secret trips to China in nineteen seventy one paved the way for arguably the greatest foreign policy achievement of the Nixon presidency. His own visit the following year. Knowing of President Nixon's express desire to visit the People's Republic of China, Premier Cho and lie On behalf of the government of the People's Republic of China has extended an invitation to President Nixon to visit China. The opening of China and an anti ballistic missile treaty hammered out with the Soviet Union achieved what would become known as Kissinger's triangular diplomacy, but his penchate for secrecy would lead to controversy. Kissinger was the first person to serve as both National Security Advisor and Secretary of State at the same time. That allowed Nixon to run foreign policy more or less directly from the White House. The president summed up his attitude in a taped conversation with Kissinger about the Christmas Day bombing in Vietnam in nineteen seventy two. Kissinger fed into that paranoia about enemies and the press by ordering wiretaps of reporters and White House aids looking for leaks. That expanded use of surveillance led to Nixon's resignation under the weight of Watergate, but the weight of one major foreign policy decision would cloud Kissinger's legacy for the rest of his long life. The Secret War in Cambodia. Kissinger orchestrated the operation that dropped more than one hundred thousand tons of bombs on North Vietnamese positions in the country. It helped lead to the rise of a genocidal Khmer Rouge regime after the war, but Kissinger would never stop defending his conduct in Vietnam, even against critics who labeled him a war criminal. Would say a better way At any one point, we didn't think so. I still don't think so. But I'm open into that argument. But what is meant by better that pragmatic approach to the world as it is rather than how policymakers might like it to be what informed Kissinger's view long after he left public office and sought to wield influence as a private citizen. At the age of eighty eight, Kissinger wrote the book on China, about the country he helped to bring back to the world stage. In a twenty twenty interview at the Bloomberg New Economy Forum, Kissinger warned of the risks of confrontation between the world's two biggest economies. Let's say, at some basis for some cooperative action to wills, Bill Slide hid a catastrophe. Comfortable do will do a one And Henry Kissinger worked to head off that catastrophe. After reaching his hundredth birthday this year, when President Biden sent cabinet secretaries to Beijing to try to stabilize relations, the one US diplomat that Chinese President Shi Jinping met face to face this summer was the man who he called an old friend to China, former Secretary of State Henry Kissinger. And for more, we are joined from Singapore by Bloomberg News Managing editor Derek Wallbank. A mixed legacy, Derek, but an undeniable legacy at the same time. I think that's exactly right. An. I think you did a brilliant job setting this up and there when when we're talking about the reaction, especially out here, I think the the polarity of feedback has been striking today. You know, Kissinger was a sort of person that in some corners of the world was a lionized statesman, and some other corners in the world, uh, they considered him an absolute scoundrel. And and and there's not really a giant a mix of those right now, certainly through Asia hours and you're you're talking about somebody who in Singapore was was somebody that that foreign ministers would would make pilgrimage to his apartment in New York City. Every time that there was a UN General Assembly meeting China. You saw that you mentioned the reaction from Xi jianpingg He's Uh. Kissinger was described as an old friend of the Chinese people's there's a mournful reaction from from China at the same time. Uh. This is somebody who throughout parts of Southeast Asia, UH, particularly Cambodia, allows Vietnam, et cetera. You know, Indonesia, parts of team or less. It's like it is not held in anywhere the same sort of thing. It's a very polarizing person, but certainly somebody who had I think it is unanimous to say a titanic effect on the world in which he lived, no doubt, and to you put it into the context of where US China relations stand now. I think it'd gotten a little bit better since the low that we saw after the alleged spy balloon incident back in February. But talk a little bit more about the impact that Henry Kissinger tried to wield even up to the end, as President Biden was trying to put US China relations sort of back on the rails. I think one of the most notable things sitting here as as we closely have tracked the decline in relationships between the two superpowers, is how Henry Kissinger always seemed to be the one American who could get a meeting with anyone he wanted in China. I mean anybody he wanted. I saw in Chinese state media today retrospectives of here was Henry Kissinger visiting it this year, and then two years later, and then three years later, and etcetera, etcetera, etcetera. Gotten down the line, he met with anybody he wanted, He met any time he wanted, and senior, senior Chinese folks would would go to him, would would want to talk to him to get a sense of where the things were in the United States, and vice versa. You know, he was a counselor to presidents of his party or not, people who agreed with him or not. He was seen as this respected voice that when he was in the room, people felt like they needed to listen to on both sides of this relationship, because as they say, he was so respected in China, and in these days you find somebody who who is you know, who is American, who has deeptised in the American state, who who is that respected in China is It's a very very small list, right, and Henry Kissingtram might have been right at the top of that list. Well, we think about the passing of a former Secretary of State who saw the world as it is. We have a current Secretary of State, Anthony Blincoln, who is back in a part of the world that is as restive as anywhere else in the Middle East. Let's talk a little bit about the latest that's happening in the conflict between Israel and Hamas and the influence the Secretary of State Blincoln is trying to have as this tenuous ceasefire continues. Yeah, and the thing that I think everybody's waiting for is to see how long this ceasefire will go. It was supposed to expire at seven am local time Thursday. It got extended for another day. I mean the announcement here just minutes before that ceasefire was due to end. There had been reports of small violations here and there of things. We have seen a steady drip drip of hostage releases. But it's a very very tenuous. I don't even want to use the word piece. It's a very it's a very tenuous pause. Let's go with pause, because a pause implies that the play button is back. It is also on the table that the restart could be coming soon. So I think that's the question. How much progress are we getting here? You do see the United States trying to play in here. I think I think the Biden administration is politically finding itself in a in a in a tough spot. They are trying to have some guardrails that they're trying to communicate to the Israelis. At the same time, you know, the the US is permissioning I if I can use that word, they're they're certainly you know, they're they're they're certainly Israel's biggest friend on the world stage. Right. So so that's a little bit of a difficult position that the Biden administration is trying to tread a little bit carefully. But they are trying to influence, uh, what's what's going on in that in that part of the world, and they have a lot of place to play. At the same time, you see countries like Egypt, countries like Cats are trying to you know, trying to influence Maybe they might be more simply sympathetic to other sides than the US administration might be, but all sort of trying to find and feel a way out of this so that it doesn't conflagrate more. All the while, also, it should be said, trying to keep nation states that are currently mostly on the side on the side. And I'm thinking here of countries like Iran to prevent this from escalating into something even more than it is right now. It's certainly a touch and go sort of thing right now. And I do as I say, I think, I think it carries some political risk. I mean, look, we're we're we're less than twelve months out from the US presidential election, and a lot of the people who are protesting in the streets in the United States are people who you would find in a normal Democratic coalition who are deeply upset with the president right now and vowing not to vote for him in any circumstance. Right that's a part, that's a group of people he needs to come out for him next year, and so it's a very very delicate ballot. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast. Feed at six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Israel-Hamas Truce Enters Final Day; Remembering Charlie Munger

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 29, 2023 23:12 Transcription Available


On today's podcast: 1) As the truce between Israel and Hamas enters its final 24 hours, negotiators from Qatar, Egypt and the US are pressing for an extension to try to secure the release of additional captives and avert a resumption of a war that erupted almost two months ago. 2) Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99. 3) Billionaire investor Bill Ackman is betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting.   Full transcript:  Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the war in the Middle East. This is the final day of an extended six day ceasefire between Israel and Hamas. The Palestinian group handed over a dozen more hostages last night, ten Israelis and two citizens of Thailand. White House National Security spokesman John Kirby says he hopes the ceasefire can be extended so more Americans can be freed. I don't want to I'll give you a handicap here on this or bet nods. I can just tell you that we want to see all the hostages out. The way to do that is these pauses. My White House spokesman John Kirby spoke with reporters outside Air Force one CIA director Bill Burns is and caught her for talks about extending the ceasefire. Secretary of State Anthony Blincoln will be back in Israel later this week, and in a post on ex President Biden called for an end of the fighting. He says Hamas fears nothing more than Israelis and Palestinians living side by side in peace and now Nathan the financial world. EA is mourning and remembering the life of Charlie Munger. Munger, who helped build Berkshire Hathaway with Warren Buffett, died yesterday at the age of ninety nine, and we have more with Bloomberg's John Tucker, John and Karen with wit, wisdom and one liners. Charlie Munger served as Warren Buffett's alter ego, often telling it with brutal honesty what wouldn't work. Munger was known for steering Buffett away from purchasing what Buffett called cigar butts mediocre companies had a puff of smoke left and could be bought for very cheap prices, and instead favoring quality. A lawyer by training, Monger recalled how he was steered toward investing when I met Warren. He immediately started telling me how much better his way of making a living was than mine, and that I was too smart to stay in such a silly businesses law practice when I could go into his business of running an investment partnership. And it took me about two or three years to realize he was right. His death, Lee's Buffett without his law time sounding board for investors, maybe his most enduring legacy is Berkshire's performance under their management. Berkshire average an annual gain of twenty percent from nineteen sixty five through twenty twenty two. I'm John Tucker, Bloomberg Radio. All right, John, thanks, of course. Charlie Munger is also going to be remembered for his roles as straight man and scold of corporate excesses at Berkshire's annual meetings in Omaha. Bloomberg Intelligence Senior analyst Matthew Pallasola remembers Monger's special relationship with Warren Buffett. They're recalling individual meetings that they had, you know, forty fifty years ago, and Bussett is forgetting a couple of things, and Munger's reminding him of, well, this guy said that, and we said this, and we made this much money in these meetings. I mean it was, you know, truly a partnership for all of that time. And their interaction was just amazing. They would finished each other sentences, and Bloomberg Intelligence Senior analyst Matthew Pallasola there. Charlie Munger died yesterday at a hospital in California. He was a longtime resident of Los Angeles. Well Nathan, we turn to the market, specifically the economy now and billionaire investor Bill Ackman, who's betting the Federal Reserve will begin cutting interest rates sooner than markets are predicting. I think there's a risk of a hard landing if the FED doesn't start cutting rates, you know, pretty soon. So I think the market expects sometime middle of next year. I think it's more likely, probably as early as key one and Bill Lackman added that he's not convinced the US economy is headed for a soft landing. The billionaire investor made the comments in an upcoming episode of The David Rubinstein Show. Here to Beer Conversations on Bloomberg Television. Well Karen Bill Ackman's comments come as two of the fed's most hawkish rate setter signal they could be comfortable holding rates steady for now. Here's what FED Governor Christopher Waller told the American Enterprise Institute in Washington. I am increasingly confident the policy is currently well positioned to slow the economy and get inflation back to two percent. Chris Waller's view as echoed by a fellow FED governor, Michelle Bowman, who said she remains willing to support great hikes if inflation progress stalls, but she did stop short of endorsing an increase next month. Well. In Washington, Nathan, the House of Representatives may be voting on whether to expel George Santos today or tomorrow, and Bloomberg's Ed Baxter has that story. Motions in the House have been formally introduced, saying ethics findings violate the accepted policies of the body. Now, many of those members who voted against the first one November one, are saying they will vote to expel now, and Santos has responded saying the body is just theater. I went to San Diego last week. It is terrible, terrible. That's what we should be putting our energy on, not on censuring one another, expelling one another, which hunts against the political class. Nobody cares. Congress has forty eight hours to act under the resolution. Ed Baxter Bloomberg Radio, Okay and thank you. President Biden won't be there, but Vice President Kamala Harris this is attending the COP twenty eighth Climate Summit in Dubai. We get details from Bloomberg's Amy Morris. Harris will join Secretary of State Anthony Blincoln and other US officials at the two week event that begins tomorrow. She is expected to address the summit this week. Formal negotiations at COP twenty eight will center on the response to warnings that countries are falling short and cutting their emissions, and possible commitments to phase down fossil fuels in Washington, Amy Morris, Bloomberg Radio. All Right, Amy, thanks for the Incorporate news and a surprise memo. Jack ma urged Ali Baba Group to correct course civilionaire call for fundamental change across the company he co founded decades ago. Ma has mostly stayed away from day to day operations since twenty twenty, and Ali Baba wants China's best candidate to become a trillion dollar company is trading at a fraction of its peak in twenty twenty. Time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Good morning, Good morning, Karen. Congressional negotiators are reportedly ready to drop plans to use the annual defense policy build of Titan controls on US investment in Chinese technology. Sourses tell Bloomberg that House Financial Services Chairman Patrick McHenry is effectively blocking a measure that would require firms to notify the government about certain investments in China and other countries of concern. The Biden administration meanwhile getting pushedback from auto dealers on those mandates for switching over to electric vehicle production. Bloomberg's Nancy Llons has that part of the story. The mandate calls for two out of every three vehicles sold in the US by twenty thirty two be battery electric, but nearly four thousand auto dealers, who are calling themselves EV Voice of the Customer say most car buyers, even with incentives, are disinterested in the technology due to the higher cost, the lack of charging stations, and the loss of driving range and hot and cold weather. The dealers are asking President Biden to slow down and let the battery technology and infrastructure improve before forcing EV purchases. The White House says the proposed standards are not a mandate and do not ban gas vehicles in Washington, Nancy Lyons Bloomberg Radio Republican Congressman Anthony Disposedesposito made a motion on the House floor to force a vote on House Ethics Committee Chairman Michael Guests resolution that would expel Congressman George Santos. Minutes later, Santos took to the House floor himself to defiantly say he will not resign. Are we to now assume that one is no longer innocent until proven guilty, and they are in fact guilty until proven innocent, Or are we now to simply assume that because somebody doesn't like you, they get to throw you out of your job. The House Ethics Committee report alleged Santos used campaign cash to pay for personal expenses. He's also facing federal charges. A US military Osprey aircraft carrying eight people as crashed into the sea off southern Japan. The Japanese Coast Guard is heading to the site for search and rescue operations. Host Guard official says they don't have details yet about what happened to the osprey nor to the people on board. He says the Coastguard received an emergency call from a fishing boat near the crash site off Yakushima. The osprey was believed to be heading to Okinawa. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen. All right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. As Amy said, but now you can get the latest news on demand whenever you want it. You can just subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update, here's John stash Hour John Darren. The NBA started this season with an in season tournament to drum up some interest early in the regular season, taking a page out of what you see in European soccer. Last night they determined which eight teams are advancing to the knockout round next Monday. In the East, Boston will play at Indiana, and then on Tuesday it's the Knicks in Milwaukee. Monday in the West, New Orleans and Sacramento, followed the night later by Phoenix at the Lakers. The winners will advance in the semifinals December seventh in Las Vegas, with the championship on December ninth. Minnesota Timberwolves have the best wrecker in the West. They won last night. They're thirteen to four. They're not advancing, but the Knicks are. They beat Charlotte one fifteen to ninety one. The Celtics moving on. They're eight to zero. At home, they beat the Bulls one, twenty four to ninety seven. Jalen Brown scored thirty. Milwaukee got thirty three from Jannis on to the compo in a one to thirty one to one twenty four win at Miami College Hoops and the sec ACC Challenge the SEC one four, including twelfth rank Kentucky beating eighth rank Miami ninety five to seventy three. We heard from the College Football Playoff Committee. Time we'll hear from them will be Sunday with the final four announcing who's going to be in the playoffs. Georgia's rank number one. Michigan, with the big win over Ohio State, moves up to second. Everyone moves up a spot. Washington now third, Florida State fourth, Oregon fifth. Washington plays Oregon on Friday for the pac twelve Championship Ohio State. With the loss dropped the sixth John Stasheward Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on siriusxam, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg day Break. Good morning. I'm Nathan Hager. On this final day of an extended six day ceasefire between Israel and Hamas, the Palestinian militant group is handing over more hostages and pressure is building on both sides to see if this pause in the fighting can be extended even further. For the very latest, let's go to Tel Aviv and check in with bloom Israel Bureau chief Ethan Bronner. Ethan, it's good to have you back with us. What are the prospects that we could see this ceasefire extended beyond today? Hey, Nathan, I think the prospects are pretty good. I think that both sides have been comfortable with this pause, they would like it to extend. I think it's a breather for Hamas, it's a breezer for the Israeli defense forces, and also it allows more humanitarian aid to get into those in great need who are suffering from hunger and the outbreak of disease in Gaza. And of course it's bringing back to Israel hostages. So the deal is, you know, ten hostages a day, another day of a ceasefire, and it seems like that could go on at least two more days. Will it be a ceasefire or could it be a resolution to this conflict? We've seen commentary from President Biden himself one of his latest posts on the social platform X saying that Hamas fears nothing more than Israelis and Palestinians living side by side. To continue down the path of terror, violence, killing and war is something we can't do. Is pressure building to end this war? It is? And that was an interesting tweet. I don't know if you still call it a tweet. An interesting post on X by the President which suggests that he is slightly moving away from a full embrace of an Israeli continuation of the war. I think it's a little hard to tell. The Israelis very much want to destroy Hamas, and they believe they can, and they believe they must take this opportunity to do so. They believe that they want to get as many hostages out as possible and then go back into war. It is clearly the case with the President and many many people abroad think that the war has should stop. Too many people have died, too much suffering has occurred. And I think that politically President Biden is worried. He's also facing internal dissent in his own administration. But you know, it could also be that they sort of thread this needle in the way that allows the Israelis to go ahead in some days time, but in a way that is more targeted, there's less civilian death, and that allows them to declare a victory. We shall see. Are we seeing that play out in the thinking among Israeli officials leaders in Israel that we could see a more targeted approach and what would that look like? Yeah, and what would that look like is a great question. We are it's very very hard at the moment to get any transparency on what the next military phase will look like. When you ask, you're told, sorry, pal, we're not sharing it with you. But it is clear from public statements and also from pressure from Washington, that they have to reduce them the kind of bombardment that began in these first weeks of this. This is now almost an eight week conflict, and it is clear that they want to go after the leaders of Hamas and it's military infrastructure. They are saying that they've killed about five thousand Hamas guys. They were saying there were about thirty thousand of them, So you know, from their perspective, they've made progress, but they've hardly gotten everything they need. Now, what would it mean to go in a more targeted way. You're going to have two million people sort of crowded into the southern part of Gaza. I don't know how you're going to go get underground there without killing people. So I don't know how they're going to do it, but that's clearly something the Americans are demanding of them before they let this go forward. What do we know about the hostage releases that are expected today, Well, we know that these rulis have been given another list of ten. Again, only women and children have been and gate involved in these exchanges so far, and I expect there'll be more women and children in the next day or two. Then the question is would they get to some men, some soldiers and that's I think a more difficult thing. So far, it's been three Israeli three prisoners Palston prisoners for each hostage. That may have to change. Yeah, we do know that there have been talks underway and caught her with the CIA director Bill Burns to potentially get that ceasefire and hostage deal extended beyond women and children, something else for us to follow. And no, we will be doing that as well. Ethan Bronner, thank you so much for being with us this morning. Ethan Bronner, Israel bureau chief for Bloomberg News, joining us this morning from Tel Aviv. And now we want to bring you our conversation with the founder and CEO of Pershing Square Capital, Bill Ackman. He says the Fed's going to cut rates sooner than many of us expect. Bill Ackman joined Bloomberg's David Rubinstein for peer to peer conversations. They discuss the FED, the outlook for the US economy, and the twenty twenty four presidential elections. So let's bring you part of that conversation right now. I do think the economy is weakening. We're seeing evidence of that in some of our companies. You're seeing I have some concerns. There's been a huge subsidy in terms of low interest rates and companies. Most companies fix their rates or their debt at very low rates, and certainly real estate investors did the same. And that works until it doesn't work, And so I think we're what's going to be interesting is to see what happens when people get have to reprice their debt, and I think that can have sort of a cliff like effect, and you're certainly seeing that in real estate now. The markets are assuming, and the markets are not always right, but the markets are assuming that there's going to be a FED discount cut sometime next year. As we talk now just about the end of November. It's not clear what the Fed will do. But some people say that the Fed, if they were to cut interest rates next year year, would help the Democrats and therefore be seen as very political. The other hand, some people say the Fed can't wait till after the election because the economy might need a stimulus. So you have a view on what the Fed is likely to do. I think they're gonna cut rates, and you know, I think they're gonna cut rates sooner than people expect, because you know, what's happening is the real rate of interest ultimately, which is what impacts the economy, keeps increasing as inflation declines. Right, So if the FED keeps rates in the sort of middle fives and inflation is you know, trending below three percent or you know, that's a very high real rate of interest, and I think that is having a sort of retarding effect on the economy. And then of course, again you know, many businesses and certainly many individuals have the benefit of fixed rate debt, and that fixed rate debt, certainly for companies and for commercial real estate, starts to roll off. So I think there's a risk of a hard landing if the FED doesn't start cutting rates, you know, pretty soon. So you know, I think the market expects sometime middle of next year. I think it's more likely probably as early as key one by its own and miss and the FED probably missed inflation initially they said it was transitory, but they played catch up and they've increased rates considerably since that time. Do you think the FED made a mistake in not handling inflation differently at the beginning, And how do you think they've done since they started increasing interest rates? They certainly made a mistake. I mean, I think they would have FED generally as an institution, would admit that. I think that they caught up and effectively. So you give them credit for acknowledging the mistake and being pretty aggressive. And then I think, you know, you want to make sure that they're you know, German Powell's desire not to have a legacy of causing or contributing to long term inflation, doesn't, you know, cause them to make the opposite mistake, I mean, keep rates too high for too long, and I think the market expectation is you know, called it middle of next year, July something like this for the beginnings of easing. I think the economy will likely demand an earlier move. And I don't think of the FED as a or at least this FED, a particularly political institution. I think they're really trying to do the right thing. President Biden has called his economic program biden Nomics, which has met some derision in Republican circles. You've been an active supporter of Democrats, I think more than Republicans. Is that right? I would say historically I have you know, I would say today I certainly consider myself and have for years now a centrist, okay, and I'm much more open to Republican candidates that I am to re electing President Biden. So I you know, you would say otherwise. You know, again, I want to elect the best leader of the country, whether that person is a Republican or a Democrat. But you haven't publicly said you're supporting President Trump if he's the nominee. Ye. I've been supportive of you know, I've been supportive of Nikki Haley. I've been supportive of Chris Christy, I know, the vag Ramswani and I was, you know, pre his launch of his candidacy, I was, uh, you know, supportive of his having a young, smart, talented, uh you know, business leader as a next president. He's just been a little too far off, too far to the right, and also been disappointed a bit with his you know, geopolitics and how he's thinking about dealing with some of the wars that we find ourselves in the midst of today for the economy itself. Do you think it really is going to make a difference if President Trump is if he's the Republican nominee it gets selected, or President Biden is the Democratic nominee he's selected, who either one. Would it make a big difference for the economy in the next year or so if either one is the president or the economy is going to do what it's going to do. You know, I do think leadership matters enormously in everything from the economy to geopolitics, and I hope we're going to have a broader selection than Trump and Biden. There's actually an interesting candidate who just announced his candidacy on the Democratic side that I would say, no one has heard of a congressman named Dean Phillips. You probably have heard of him, may know him. Met with him recently. I was impressed. I think the best I think Biden done a lot of good things, but I think his legacy will not be a good one if he if he is the nominee, I do think the right thing for Biden to do is to step aside and to say he's not going to run and create the opportunity for some competition of alternative Do you think that I think that I think he's past his prime in kind of meaningful way. I think the global security, I would say, and is going to become a very high profile issue for I think the country. I think people are concerned about what's going on in terms of Russia, Ukraine, you know, the Israel Hamas situation. You know, Russia and China are pretty belligerent today. Our relationships are not good. So I think you know, you, I do think of It's a bit like being CEO of a major company. It's a it's a it's a full time job, and you need to be at your you know, you need to be strong, you need to be at your intellectual best. And I don't think Biden is there. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Middle East Truce Extended; Musk on Helping Rebuild Gaza

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 28, 2023 17:45 Transcription Available


On today's podcast: 1) Israel and Hamas extended their truce late Monday after agreeing to release more hostages and prisoners and Washington said it was dispatching its top diplomat to the region for more talks over the conflict in Gaza. 2) Elon Musk was in Israel being welcomed by the nation's political elite — including Prime Minister Benjamin Netanyahu — to visit the region where the Islamic militant group Hamas murdered 1,200 people on Oct. 7. 3) European stocks fell for a second day and US futures pointed to a weaker open on Wall Street amid signs the November rally in equities is overstretched.   Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. First, you want to get to the latest developments in the Middle East. Israel and Hamas have agreed to extend their truth. They will pause fighting until early Thursday. That brings the halt to six days, and we get the latest from Bloomberg's Rosalind Matheson. What we know is that this extension, which was somewhat expected, is likely to be under the same terms as we've seen so far, which is roughly, for every one hostage released by Harmas one Israeli hostage, that there's at least three Palestinian hostages released in turn by the Israelis. That's about a one for three exchange. What we do know is that those exchanges have happened so far every day in the truth, even if they've happened sometimes quite late in the day because there has been continued arguing through the day about some of the terms and conditions. Bloomberg's Roz Mathison says the truce comes as Secretary of Saint Anthony Blinken heads to Israel for the third time since the Hamas attack. Well, Nathan Elon Musk says he liked to help rebuild Gaza after the war with Hamas. The billionaire was in Israel yesterday and made the comments in a conversation with Israeli Prime Minister Benjamin Nettan Yahoo. Those who are intended motor must be neutralized. Then the propaganda must stop. That is training people to be murtorers in the future, and then and then making Gaza prosperous. And if that happens, I think will be good future. Well, I hope you will be involved in it, and I'd love to help and muss Israel Visit appears to be an effort to diffuse a growing backlash over his endorsement of an anti Semitic tweet. Last week. Corporations including Apple and Walt Disney stopped advertising on Eggs over concerns of increasing anti Semitism and hate speech on the site since he purchased it well Karen. The first of three US military relief flights carrying aid for the Gaza Strip is set to arrive in Egypt later today. Senior US official say the flights will carry winter clothing, food, medical items, and supplies specifically for children. This comes as the Biden administration seeks to escalate assistance to Palestinian civilians amid pressure from fellow Democrats. Well, Nathan ad to Israel is one of the issues of waiting lawmakers on Capitol Hill. The House is back in session today after the holiday break. Senate Majority Leader Chuck Schumer says he wants to vote as soon as next week on one hundred and six billion dollars in aid to Israel, Ukraine, and border security, but former Republican Congressman mcmulvaney says it'll be tough to pass it all before the end of the year because Congress is not facing a government shut down deadline by then. Typically big deals would get done at Christmas and again right before the August recess because that's when Congress wants to go home. Well, they don't have the sort of the sword of Damicles to hold over the members right now because the funding deals go beyond Christmas, and former Congressman mcmulvaney says Israel aid could pass alone before Christmas because it has bipartisan support. And he was guest on Bloomberg's sound On. Get the full interview on the sound On podcast. Well, meanwhile, Karen President Biden is cautioning corporations against taking advantage of inflation relief. We get that story from Bloomberg's Ed Baxter. President Biden has taken credit for easing supply chain pressures and lowering inflation, but says more needs to be done. Let me be clear, to any corporation that's not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt, it's time to stop the price gouging. You've given the American consumer a break. Biden also says he set up a council review supply chain actions, calling it an early warning system. Head Baxter Bloomberg Radio, All right, Ed, thank you well. We turn to the markets now, and it's shaping up to be a November two remember. We get the latest from Bloomberg's John Tucker. John and Karen stocks have rallied more than eight percent, marking one of their strongest gains for the month since records began. Signs of slowing inflation and measured jobs growth have also unleashed a treasury rally, with scent yields tumbling for their highest and more than a decade, and those lower yields mean the dollar is headed for its steepest monthly drop in a year. There's a consensus that not only has the Fed stop raising interest rates, but investors are pricing in around ninety five basis points of rate cuts into the end of next year. Well, not everybody's on board with a bowl case. Strategists that city groups say underlying bullish signs from futures flows are starting to fade. I'm John Tucker, Bloomberg Radio. Okay, John, thanks, you got some news on the IPO market this morning. Sources tell Bloomberg Reddit is again holding talks with potential investors for an initial public offering for the social media company, and we get that story from Bloomberg's Charlie Pellett. Hope Folds aren't preparing for a long awaited reopening of the market for new listings, sources say. The San Francisco based firm, whose users help fuel the meme stock frenzy that made twenty twenty one a ban a year for equities, is weighing an IPO as soon as the first quarter. Bloomberg news last year that Reddit was working with Morgan Stanley and Goldman Sachs on the listing and was considering a valuation of as much as fifteen billion dollars in New York. Charlie Pellett, Bloomberg Radio, all right, Charlie, thank you well, fast fashion retailer. She and has filed confidential confidentially with US regulators for an IPO that could take place next year. Bloomberg News has learned the online retailer, which was founded in China's working with Goldman Sachs, JP, Morgan Chase and Morgan Stanley on the listing. She has come under fire for poor labor conditions and factories in partners with overproduction of poor quality garments and the use of cotton from a Chinese region accused of using forced labor. Futures this morning, little change nasday futures lower though down a tenth of a percent on about twenty two points ten year treasury down two thirty seconds you four point three nine percent, and a yield on the two years at four point nine zero percent. Straight ahead, we have more local headlines, plus check of sports, and this is Bloomberg and it is time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris Any Good morning, Good morning, Karen. Scandal plagued New York Republican Representative George Santos has acknowledged he expects to be expelled from the House as soon as this week. House Speaker Mike Johnson was asked if there would be a vote on the fate of mister Santos as soon as this week. We've spoken to Coxsman Santos at some length over the holiday and talked to him about his options, but we'll have to see. It's not yet determined. The latest blow came in the form of a fifty six page report from the Health Ethics Committee released earlier this month, outlining substantial evidence that mister Santos violated federal law. The Justice Department has charged Santo's with conspiracy, wire fraud, fallse statements, falsification of records, aggravated identity theft, and credit card fraud. Border security is a key part of a broader legislative deal that lawmakers want to complete before the end of this year, but lawmakers are not likely to include a pathway to citizenship for young immigrants protected by the Deferred Action for Childhood Arrivals program in the border deal wrapped in that conversation a national security funding request from the White House, including eight for Ukraine. Senate Majority leader Chuck Schumer. The biggest hold up to the national security supplement is an insistence by some Republicans, just some on partisan border policy as a condition for Ukraine aid. Senator Chris Murphy of Connecticut, a top Democratic negotiator in those talks, says wild Daka is a priority that Democrats would want to see included in the deal, it does not align with what Republicans want the final bill to look like. A Moscow court has extended the detention of US reporter Avan Gershkovich. Gershkovich was arrested in Russia earlier this year. He's accused of spying. Today's hearing was held behind closed doors, no press allowed inside. His detention will be extended through January thirtieth. Memorial service is being held in Atlanta for former First Lady Rosalind Carter, President Biden, First Lady Jill Biden, and other former First Ladies. Malania Trump, Hillary Clinton, and Laura Bush are all expected to attend services this afternoon on the campus of Emory University. Jimmy Carter is also planning to be there. Rosalind Carter rather Rosalind Carter Pardon me died on November nineteenth at the age of ninety six. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen. All right, Amy, thank you what we do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at a click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus Apples, Spotify, and anywhere else you get your podcasts. And it's time now for the Bloomberg Sports Update, and here's John stash Hour, John Karen Mother Night. Football in Minnesota, the Vikings lost their quarterback Kirk Cousins for the season, and their star windout Justin Jefferson, missed another game that's the seventh in a row, and their offense struggled. Their new quarterback, Joshua Dobbs, who had been playing well through four interceptions. He did throw a touchdown pass to TJ. Hockinson with under six minutes to go, the only TV of the night for either team. It put Minnesota ahead, but Cairo Santos with his fourth field goal of the game of thirty yard or ten seconds left, the Bears upset the Vikings twelve to ten, Chicago four and eight, Minnesota six and Sixes two and four at home NBA in Philadelphia, Joe Lmb thirty points a triple double, and the Sixers crossed the Lakers one thirty eight to ninety four. Lebron James has been playing for twenty one seasons. This is the most lopsided loss of his career. Rare win for the Wizards. They won one twenty six to one oh seven. At Detroit, battled the NBA's two worst team. The Wizards are three and fourteen and the Pistons are two and fifteen. Bruins lost at Columbus five to two. The Minnesota Wild fired their coach Dean Everson. Wild with only five wins in their first nineteen games. They're replacing him with John Hines. The former Nashville coach. Sonny Gray signed a deal with the Saint Louis Cardinals three years, seventy five million. He was the cy young runner uper in the American League with Minnesota. He's also pitched for Oakland, the Yankees, and Cincinnati. Outfielder Jason Hayward staying with the Dodgers a one year deal for nine million. John Stashie were with Bloomberg Sports. Karn all right, John, thank you, well, we want to get the latest out of the Middle East. We're going to be speaking with the Bloomberg's Simon Marx straight ahead. He is going to join us from Tel Aviv. And ahead of that conversation, futures again, our little change this morning. Nasdaq futures though lower, down to tenth of up percent, the Dacks in Germany also down to tenth of up percent this morning, and a ten year Treasury down two thirty seconds see of four point three nine percent. The yield on the two year four point nine zero percent. This is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We continue to watch for further developments in the Middle East now at the ceasefire between Israel and hamas into overtime, and the expectation more hostages will be freed from Gaza in exchange for Palestinian prisoners joining us once again from Tel Aviv is Bloomberg, Simon Marx, Simon good morning. What is the expectation is it's still going to be one hostage for every three Palestinian prisoners, and that's how this is going to continue to go. Yes, that does seem exactly how it's supposed to go ahead. The Katari government has built out a statement very recently saying that the terms and conditions of this truce will be identical to what we've seen the previous four days. So that is going to take us through to Thursday morning here, so an extra two days, and we're going to see in the coming sort of forty eight hours whether that can be extended once again for another two days. Beyond that, there is some speculation that there could be another bit of wiggle room there. Do we know at this point or have we gotten any clue as to how many hostages could be released today? And whether there'll be any Americans on the list. Yes, so you know we're looking yes, the same as yesterday essentially, which was eleven off the hostages in return for thirty three or so Palestinian prisoners. That is the expectation there. Obviously weren't any Americans involved the last time round, but there is a lot of backchanneling going on to try and make sure that the US hostages do get out, although some sort of feel that, you know this, this will wait till the very last moment, obviously due to the relationship between Hamas and the US, and along with back channeling, it looks like there could be some more front channeling as well, with Secretary of State Antity blink and expected to arrive your way any moment. Now, what's the expectation for what the Secretary of State plans to do on this third visit to the region since the October seventh attack. Yes, indeed, so the Secretary of State has obviously been here multiple times. This time he's coming in towards the end of the week, we believe, and is going to focus on talks aimed at a more lasting, peaceful solution for the Palestinian territories. Of the Palestinian State. He will bring this up, whether or not he's going to get any traction. There is another question with Israel obviously planning to recommence their offensive in the Gaza Strip, and another focus of his will be to make sure more aid, more humanitarian cover is brought into the Gaza Strip. The UN have been very vocal, and you know right up into recent hours that more is needed, especially in the north of the strip where you have thousands of isolated people who haven't received much aid at all. It's interesting to hear a lot more talk now about what comes after, not just the ceasefire, but after the war itself. You mentioned Secretary of State Blincoln talking about a lasting solution to the crisis. We even heard from Elon Musko all people yesterday in Israel talking about wanting to rebuild in Gaza after the war is over. How much pressure is there on Israel right now to try to come to some kind of resolution of this crisis. There is a growing pressure, and I think there's a growing demand from partners from the Gulf, including the US, to understand what Israel's plan actually is. They haven't really expressed it. There is this notion obviously that the Netzenyahu government want to keep the West Bankcupied territories separated from the Gaza Strip. That obviously flies in the face of what the international community want in terms of a two state solution which would unify these two Palestinian territories. So there's so much to be ironed out, and I think that's probably some of the questions that Anthony Blincoln is going to want answers to when he arrives. Are we seeing that pressure Simon coming just from partners from the international community, or is Prime Minister Nettagna, who coming under some domestic pressure as well, got about a minute left. Well, yeah, obviously within Israel there is a quite a right wing government here at the moment. There are senior members of Nettaya who's Netanya whose cabinet, who are far on the right and very much against this idea of a two state solution and want to see a continued Israeli security presence inside the Gaza Strip. They have very little faith in any to come out of the Gaza Strip. So clearly Netanyahu's going to have to thread the needle here between what the international community wants and the pressures he's facing internally to be much more hardlined. Okay, Simon, thanks for this. We'll be checking back with you in the days and weeks to come. Simon Marks of Bloomberg News joining us this morning from Tel Aviv on day five now of the ceasefire between Israel and Hamas, with the expectation that more hostages will be released today in exchange for Palestinian prisoners out of Israel. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app. Seriusxmbiheartradio app and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Pressure Grows for Continued Cease-Fire; Musk in Israel

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 27, 2023 17:43 Transcription Available


On today's podcast: 1) 1) Israel is coming under increasing pressure to agree to an extension of a four-day pause in its war with Hamas. President Joe Biden said he supports prolonging the cease-fire, which is due to end on Tuesday morning and part of a deal to free hostages held by Hamas in Gaza. The halt in fighting is “critically needed” for additional aid to get into the territory and for more captives to be freed. 2) Rishi Sunak said he condemns antisemitism “in all its forms,” in a careful criticism of Elon Musk that stopped short of the full-throated condemnation by US President Joe Biden and others who have accused the tech entrepreneur of amplifying anti-Jewish hatred on his X social media platform. 3) Black Friday shoppers spent a record $9.8 billion online in the US, Adobe Analytics reported, offering a positive sign for retailers facing lackluster sales forecasts for the holiday season.  Full transcript:  Good morning. I'm Nathan Hager and I'm Amy Morris. Here are the stories we're following today. First, the latest developments out of the Middle East. Israel and Hamas are signaling that a temporary ceasefire could be extended beyond today. Under the current agreement, Hamas is releasing fifty hostages in exchange for one hundred and fifty Israeli held prisoners. President Biden says he's aiming for this break in fighting to continue. Critically, nay, today is going in and hostages are coming out, and there's still structured so that it can be extended to keep building on these results. That's my goal, that's our goal, to keep this pause going beyond tomorrow. When President Biden spoke yesterday with Israeli Prime Minister Benjamin Netanyahu, who signaled an extension was possible. Meanwhile, Israel is coming under increasing pressure to agree to an extension of a four day pause in it's war with Amas. We get more from Bloomberg's Simon Marx and Tel Aviv. Israel is under some pressure to continue to slow drip releasing hostages. There is still a lot of public pressure here to get many more released, and the families and the victims of the hostage families are still very active. Bloomberg. Simon mar says, so far Hamas has handed over fifty eight hostages, including non Israelis. It is slated to free another eleven Israelis today to fulfill the four day Agreement. And in Washington, the issue of Israeli aid maybe getting more complicated. Bloomberg zed Baxter has that story. Senator Chris Murphy is saying lawmakers should consider conditioning future aid to Israel based on compliance with international humanitarian law. I think there's both a moral cost to this, many civilians, innocent civilians, children often losing their life, but I think there's a strategic cost. Ultimately, Hamas will get stronger, not weaker, in the long run if all of this civilian death allows them to recruit more effectively, enablely inside Gaza. Murphy on CNN civilian death toll must stop, ed Baxter Bloomberg Radio, Thanks D. Another complicating factor in aid to Israel and Ukraine is a dispute over security at the southern border. Republicans in Congress want to tie foreign military assistance to tougher border policies. On NBC's Meet the Press House Intelligence Chair Mike Turner said it will be tough to pass the AID before the end of this year. While the issue remains unresolved. Man Amy events in the Middle East may be forcing President Biden to skip an event he's attended the past two years. According to The New York Times, a White House official says the President will not be at the COP twenty eighth Climate summit in Dubai. The official didn't say why, but senior aids are suggesting the Israel Hamas war has consumed the president in recent weeks. Meanwhile, Elon Musk will today meet with the Israel with Israel's Prime Minister and president, as well as representatives of the families of hostages held in Gaza. The closed door meeting appears to be an effort to diffuse a growing backlash over the billionaire's endorsement of an anti Semitic tweet. While Musk has drawn support from notable figures including hedge fund manager Bill Ackman, others, including British Prime Minister Rishi Sunek, say that Tesla and SpaceX chief should not be given a pass because of who he is. I don't tend to get in the business of scrutinizing what every single person says who I've interacted with. Of course I bore anti Semitism. It doesn't matter whether you're Elil Musk or you or someone on the street who's shouting abuse that someone who happens to be walking past you. That's wrong in all its forms. Antisemitism in all its forms is completely and utterly wrong. So next careful criticism comes just weeks after the British Prime Minister had a fireside conversation with Musk at the UKAI summit. Turning to markets, amy stocks are going higher. That's the call from Deutsche Bank. The firm's strategists, including Binkie Chata, predict the S and P five hundred will rally to a record fifty one hundred by the end of next year. That's about twelve percent above current levels. Chata says stock valuations are not high and earnings are growing solidly. Meanwhile, Wall Street it returns to work with lots of economic data and plenty of earnings reports. We get a preview from Bloomberg's Charlie Pellett. Tech earnings will be in focus this week, with z Scaler and crowd Strike holdings underscoring how businesses are prioritizing cybersecurity after recent high profile corporate hacks. Among the other technology companies reporting this week Salesforce and Dell. In New York Charlie Pellette Bloomberg Radio. Okay, Charlie, thanks for also keeping an eye on retailers today. Well, because it's cyber Monday. The huge online spending day comes after shoppers spend a record online on Black Friday. More on that from Bloomberg's Eddie vendor Wald. What we're seeing is that US consumers spend a record nine point one billion dollars online. That's according to Adobe Analytics. It's a record so far. But we're seeing two interesting trends. Number One, a lot of people are spending on buy now, pay later, and we are seeing them buying less luxury items with this spending. So it feels like the consumer is starting to feel the pitch and rather than going out spending big money is saying, look, this might be a good opportunity to start cutting back out of spending. Bloomberg's Eddie vander Walt says global Black Friday sales rose twenty two percent, led by clothing, personal care, and jewelry. The owner of TikTok is cutting jobs. Bye Dance plans to eliminate hundreds of positions in gaming and wind down at Showpee s brand Uverse. The closure marks by Dan's biggest retreat from a once booming gaming industry dominated by ten Cent and at smaller faux net Ease. Sources say the Chinese company intends to announce the cuts later today. Time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's John Tucker. Good morning Job, Hey, Good morning Amy. The US is investigating whether Iran was behind an incident in which missiles were fired near the Navy destroy USS Mason. The Mason intervene to stop the hijacking of a commercial cargo ship by pirates in the Gulf of Aidenere, Somalia on Sunday, after which two ballistic missiles were fired from Yemen tour the Navy destroyer. The ballistic missiles were fired from the part of Yemen controlled by Iranian backed Hutu rebels. They fell well short of the mark. We could be looking at a shakeup in the battery industry that's critical for the energy transition battery giants are starting to put their money on a new sodium based technology. Let's get more in this report from Bloomberg's Denise Pellegrini. Sodium from rock salt and brines is cheaper and way more abundant than the lithium widely used now in batteries. But in the past week alone, Sweden's Northfold said it made a breakthrough, and China's ev maker BYD signed a deal to build a one point four billion dollar sodium ion battery plant. Also, China's coatl said back in April at sodium based batteries would be used in some vehicles starting this year. This could all hit lithium demand Hardloomberg GETTYF has said sodium could cut hundreds of thousands of tons of lithium demand by twenty thirty five. Denise Pellegridy Bloomberg Radio. This post Thanksgiving travel rush could be won for the books. American Airlines said that it flew six and a half million customers over the holiday, the highest ever for the airline. Of this traveler at New York Liberty Airport spoke for many I travel from California to New York back and forth all the time. I have never had this much of a weight. I don't know why. American says it had more than sixty one hundred departures Sunday and expects about six thousand flights today. The Biden administration today will announce a redoubling it measures to strengthen supply chains. It's creating a new White House Council on Supply Chain Resilience. The council will conduct a supply chain review mirroring similar strategic documents prepared for National Defense at Homeland Security. Global News twenty four hours a day and whenever you wanted with Bloomberg News Now. I'm John Tucker and this is Bloomberg Amy. All right, thank you, John. We bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule, and you can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for our Bloomberg Sports Update and for that, we bring in John stash hour Amy. The game of the day was in Philadelphia. The Eagles trailed Buffalo by ten points in the fourth quarter, trailed by three with twenty seconds to go when Jake Elliott tied the game with a fifty nine yard field goal. Philly also trailed in overtime, but Jalen Hurt scored a touchdown and the Eagles beat the Bills thirty seven to thirty. Fourth. Philly is ten and one. The Bill's having a disappointing season at six and six. The Patriots having a really disappointing season. They are two to nine. Lost to the Giants ten to seven when Chad Ryland missed a thirty five yard field goal with three seconds to go. Ravens last night improved to nine and three. They beat the Chargers twenty to ten. The Steelers are seven and four, all seven wins by seven points or less. They've been outscored on the season, but Pittsburgh able to win at Cincinnati sixteen to ten. Bengals played without the injured quarterback Joe Burrow. Carolina dropped a one in ten, lost to Tennessee seventeen to ten. Indianapolis Street Tampa Bay twenty seven to twenty Michael Pittman had over one hundred yards in receptions. Two SEC schools with new football coaches at Texas A and m it's Mike Elko. He had been at Duke the last two years and the previous to that he was the Aggies defensive coordinator. Mississippi State's new coaches Jeff Levy, he had been the offensive cornator head Oklahoma. Another f one win for Max first staff and that's nineteen out of twenty two races. That's the most ever. Celtics still on beating at home. They beat the Hawks one thirteen to one of three. Jason Tatum score thirty four. Johns dash that We're Bloomberg Sport from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Today is scheduled to be the final full day of a four day truce between Israel and Hamas, but after the release of dozens of hostages from Gaza, including a four year old American Israeli girl. Both sides are now signaling this pause could be extended. And for the latest, we're joined from Tel Aviv by Bloomberg News reporter Simon Marx. Simon, good morning. What is the likelihood that we could see an extension given the number of hostages that have been released so far? Well, so far, the chances of this taking place seem to be making some good progress. Hamas has released a statement saying that in theory they would have greed to an extension, and Israel, for the whole way along this current truce, has said that it would be open to further days, So we're talking about ten per day for up to ten days. You know, diplomats in the city do expect that we will see one or two more days. It's a little unclear whether we're going to get to the full ten. But there is obviously a lot of pressure on the government of Benjamin Netta and Yahoo to continue the release of the hostages, with the families still campaigning and very vocal on this front. Yeah, that's happening on the outside. Talk a little bit more about as well, the behind the scenes pressure that's happening with Israel and Hamas to potentially secure a further ceasefire. Yeah. I think the main reason for this is that the international community would like to see more aid get into Gaza. Obviously, the strip has been pounded for weeks now, there's still at least one hundred thousand people in the north with very very limited access to any form of humanitarian care, and then in the south you've got over a million displaced people in you know, really devastating conditions. So there were two hundred trucks that managed to get over the border from Egypt on Sunday. There's been about two thousand in total. But the hope is is that increases a lot a lot more in the coming days. What's the feeling about whether there is enough aid going in right now and whether that aid could potentially be used to support Hamas. There has to still be that concern among the Israelis, right, Yeah, of course, And you know, this is part of the reason why the bureaucracy around getting trucks in, the checks and balances from the Israelis were so stern and and it's also part of the reason why getting aid in was actually difficult in the beginning. That it does seem in recent days to have opened up. There is this notion that, you know, if Israel is to continue its ground offensive against Hamas, that in return, they cannot be seen to be blocking eight you know, and flouting international humanitarian law. But yes, I mean Hamas fighters are spread throughout the Gaza Strip, and many people seem to think that they have a presence in the south too, where there are a lot of civilians. And that factors into a lot of the commentary that we're hearing from a particularly congressional Democrats in Washington, d C. That future aid to Israel might need to be conditioned on international humanitarian law being followed more stringently. How is that potentially factoring in to Israel's decision making when it comes to extending the pause in fighting or carrying on this war even further once whenever the pause ends, it does end well very much. So. Israel are extremely dependent on diplomatic and material support from the United States. Without that, I think, you know that the pressure for them to stop this war is going to mount. So far, we've seen a lot of pressure from Biden's administration to make sure Israel do allowed aid in, but there hasn't been you know, a stringent call for any longer term ceasefire. So it does seem that this green light essentially for Israel to go back in to the Gaza Strip once this truce comes to an end, is very much there, even though perhaps in some other corners of the world, particularly the Gulf and parts of Europe, obviously the pressure is mounting. But yeah, as we all know, the main bidder here is the United States. And as this pause continues, Simon, are there risks of other fronts opening while the pause goes on. I mean there's been sporadic fighting that we've been reporting on in the West Bank, as well as the back and forth over the Israeli Lebanon border. Yes, definitely. As you mentioned the West Bank, I mean just overnight there has been a report there were eight Palestinians killed in the West Bank in an air strike. The situation is very restive there that there is growing settler violence. Since October seven, Jewish settlers in the area have carried out way over two hundred attacks on Palestinian communities, and the Israeli army have also come down pretty tough on demonstrators and suspected sympathizers of Hamas. The population there in general feels like it's being occupied and oppressed, and that the Palestinian authority which runs the show there in some areas, isn't really representative of them. Obviously, if things continue in this direction, there's massive risks of it boiling over, and then, you know, I think beyond that, beyond Israel's borders. So far it has been more or less contained, but it is very, very worrying. We saw Israel strike the airport in Damascus not that long ago, targeting, yeah, targeting Iranian targets there. So clearly it's a it's a huge risk. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast be by six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time, on Bloomberg eleven Priezero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg nine six in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa. Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, siriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Amy Morris. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
The Israel-Hamas Hostage Release; Details on the Niagara Falls Explosion

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 24, 2023 16:41 Transcription Available


On today's podcast: 1) The first truce since the war between Israel and Hamas erupted last month went into effect on Friday morning. The deal came after weeks of complex and delicate talks brokered by Qatar, the US and Egypt. The halt in fighting in Gaza is intended to last for four days. Hamas, an Iran-backed militant group, is meant to return 50 of the almost 240 hostages it captured from Israel, while the Israelis will release 150 jailed Palestinians and allow more aid into Gaza. 2) The Canadian mayor of Niagara Falls, Jim Diodati, said the Rainbow Bridge is expected to reopen in a day or two, after a car explosion that killed two people shuttered the busy crossing between the US and Canada. 3) Barclays Plc is working on plans to reduce costs by as much as $1.3 billion over several years, which could involve slashing as many as 2,000 jobs, according to Reuters.   Full transcript:|Good morning. I'm Nathan Hager and I'm John Tucker. Here are these stories we're following today. The first group of Israeli hostages is expected to leave the Gaza Strip soon in a deal that's meant to return fifty of the nearly two hundred and forty captives that Hamas took from Israel. Israel plans to release one hundred and fifty jailed Palestinians. All involved are women and people under the age of nineteen. This stop in fighting is intended to last for four days. It marks the first major lull in this war since it began October seventh. Israeli Prime Minister Benjamin Netanyah, who says the military offensive will go on after that. We hope to get this first tronch out and then we're committed to getting everyone out, but we'll continue with our fore aims namly to eradicate Kamas, because Kamas has already promised that they will do this again and again and again. Israeli Prime Minister Benjamin Netanyah, who says he has delivered that same message in a phone call to President Biden. We had along with a hostage release, the deal will also allow for more AID into Gaza. Bloomberg's owner Aunt says the humanitarian aid is critical for the people at Gaza. The very first trucks that went in we're carrying cooking gas, which obviously is very critical for more than two million people are currently living in Gaza in what the UN calls a dire humanitarian situation. Bloomberg's owner Aunt reports Palestinians were emerging from temporary shelters and crowded the streets as southern Gaza as the AID trucks entered. Back in the US, we want to bring you update from the events that unfolded on the Rainbow Bridge at Niagara Falls this week. New York Governor Kathy Hochel says that bridge is back open after a car explosion on Wednesday killed two people and closed that crossing between the US and Canada. Hockel says there is no sign of terrorism so far. She adds a suspect of ties to Western New York has been identified. Investigation will determine if the blast was intentional or an accident. The holiday shopping season kicks into full swing today, with shoppers searching for Black Friday and Cyber Monday deals. Deloitte Saniel Thanksgiving survey. He finds consumers plan on spending and average almost five hundred and seventy dollars on both days. That's up thirteen percent from last year. And Bert Flickinger managed Rector with Strategic Resource Groups. As shoppers are feeling confident, however, they're using a new tool this shopping season. It's going to be by now, pay later. Fifteen percent of all purchases will be that way, and consumers are still taking on credit card debt, but sixty three percent of consumers will be buying with debit card and trying to put less on credit as interest rates have climbed and the average household has seventeen thousand and revolving unpaid credit card debt. Bert Flickinger with Strategic Resource Groups. As many consumers plan to do much of the shopping during Black Friday and Cyber Monday in order with their spending limits, traders are going to be following the traditional kickoff of the holiday shopping season today as well as SMP Global Manufacturing PMI data that comes after the Eco data dump we saw on Wednesday. It showed a drop in jobless claims and expectations that inflation will climb from the University of Michigan sentiment poll. The bond market is open till two pm Wall Street time today, and the New York Stock Exchange and the Nasdaq close at one and we're also following financial news in Europe this morning. Starting in the banking sector, Barkley's aiming to reduce costs by as much as one point three billion dollars over the next several years and could cut up to two thousand back office jobs that's about two percent of its workforce. This according to a report from Reuter's. Bloomberg's Jenny Serdaine says investors are looking for a renewed strategy after a disappointing third quarter. I think a lot of this is driven by investors just really being unhappy with how this company has been run. And so you've got you know, vin Kata Krishnan, their CEO, who's really looking at trying to take some big, bold moves here and promising that he's going to have a strategy update that will really make clear how to bring Barklays out of this position that they're in. Bloomberg's Jenny Strain says Barkleys could make more cuts in other areas outside the back office. Barkley's share is down about eleven and a half percent this year, and checking those shares now John they're up about a half percent in the pre market in London. Staying in Europe, the economic picture is getting darker in Germany. The German government is suspending a constitutional limit on net new borrowing for a fourth straight year as it struggles to recover from an energy induced downturn last winter. This move to lift the so called debt break will be part of a revised twenty twenty three budget. Chancellor Olof Schultz's government was forced into a radical budget overhaul after a ruling last week from the nation's top court. And turning to Asia, the Chinese government ramping up pressure on banks to support struggling real estate developers. Bloomberg's David English has more we here, trying to may allow banks to offer unsecured short term loans to qualified developers for the first time. These so called working capital loans would offer funds for day to day operations. The loans are different from other types of debt that require land or assets as collateral. We reported that authorities are finalizing this list of developers eligible for that aid. Sources say the list includes Country Garden and sign a Ocean Group. Country Garden shares jump twenty four percent yesterday on word that it was included in that list in Hong Kong. I'm David Ingliss Bloomberg Radio. Okay, David, thanks to earlier this week, oh Peck plus pushback and gathering to finalize output levels for next year by four days to November thirtieth. Now, the group says that meeting will take place online and now it's time to take a look at some of the other stories making news around the world with Bloomberg's Michael Barr. Good Morning, Michael, Good Morning, Nathan and Ireland. Violent clashes broke out in central Dublin after a five year old girl was seriously injured in a NiFe attack that also saw a woman and two other young children hospitalized. Police and the attack happened near a school. Soon after, at least one hundred people took to the street, some armed with metal bars. Police said. Over four hundred officers, including many and riot gear were deployed in Dublin city center to contain the unrest. The head of the Irish Police Guarded Commissioner Drew Harris. We have a complete lunatic hooligan faction driven by far right ideology, and also then this disruptive tendency here engaged in serious violence. Commissioner Harris says a person of interest, a man in his fifties, was arrested at the scene. New York City Mayor Eric Adams has been accused of sexually assaulting a woman in nineteen ninety three. The three page legal document does not contain details of the alleged assault. Adams denied the allegations absolutely not true. You know, I would never do anything to anyone, and it's just really say, you know, my career speaks for itself. The suit comes just hours before New York's Adult Survivor's Act expires, which eliminates the statute of limitations for accusers of sexual abuse to come forward. The filing seeks a trial and five million dollars in relief. Evacuation orders have been lifted near the scene of a tank or train derailment in eastern Kentucky. The trains operator CSXAS sixteen cars went off the rails Wednesday afternoon near the small town of Livingstone, Dustin Heiser with Kentucky Emergency management throughout this entire event. The safety of the public has been our number one concern. The derailment sent dangerous fumes into the air. UN Secretary General Antonio Guterrees is visiting Antarctica just before the COP twenty eight climate talks begin. Gu Terras called the continent's warming devastating warming air and ocean temperatures are causing Antarctic ice to melt. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Ninth It him Michael. Thanks. You can get much more Bloomberg on your dashboard with the new Bloomberg Business App featuring Apple Car Play and Android Auto. You get access to every Bloomberg podcast, live audio feeds from Bloomberg Radio, even print stories in audio form from Bloomberg News. Download it from the Apple App Store or Google Play. Connect your phone to your car and get started with the Bloomberg Business App. Presented by our sponsor, Interactive Brokers. Time now for the Bloomberg Sports Update, brought to you by tri State Outing. Good morning, Nathan, the NFL at the triple header on Thanksgiving, the Packers knocking off the lines in Game one twenty nine to twenty two of the Cowboys dominated the Commanders in Game two opics and stays in the block. That's to late on Hawker. Is that bliand news gott it you streaking out the sideline? He's not hol depeat. If he does, he's gonna play the record of a gain. He slipped through three Commanders defenders at clinics at out and he scores. That is his fifth fix six of the season. That's courtesy of the Cowboys Radio Network, Dallas dominating the Commanders forty five to ten in Dallas, while in Game three is the forty nine Ers all over the Seattle Seahawks thirty one to thirteen. Coming up today, kick off at three pm Eastern Time at Mettlife Stadium in New Jersey. It's the New York Jets hosting the Dolphins. New York comes in losers of three straight. End has made a quarterback change as Tim Boyle takes over for Zach Wilson. Offensive coordinator Nathaniel Hackid talking about Boyle, he has an unbelievable knowledge of the system. He has a tenacity when it comes to his preparation. I mean, he NonStop, from everything from every single drawing to every single thing on the game sheet. He prepares truly like a starter and has since day one. That's courtesy of ny Jets dot Com. In the NBA, a more in season tournament action. Today, the Knicks are home for the Heat. The Celtics on the road of the Magic. It's the Wizards playing at the Milwaukee Bucks. The Warriors are hosting the San Antonio Spurs. That's your Bloomberg Sports update. I'm Dan Schwarzman from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We continue to monitor developments in the Middle East, where the first pause in fighting between Israel and Hummas in more than six weeks appears to be holding, and it comes after weeks of delicate talks aimed at releasing some of the nearly two hundred and forty hostages that HUMMAS captured in the deadly October seventh attack on Israel. For more, we are joined by Bloomberg's Henry Mayer, who is part of our team of reporters who has been covering this war in the Gaza strip since it began. Henry, good morning. Get us up to speed on developments thus far are since it does look as though this truth is underway and does appear to be holding. Yes, good morning. Well, the truth started at about seven o'clock in the morning local time, and they haven't been any indications of any violations. And you know the importance next stage is going to be the release of thirteen hostages which are being held in Gaza currently. That is expected at four pm local time, and on the same day at thirty nine Palestinian prisoners. All of these are women and people aged under the age of nineteen children in the case of the hostages, and in the prisons you're looking at youths aged under nineteen. So you know, I can't stress how difficult this process has been to even get where we are today. It took weeks of very very difficult diplomacy, secret diplomacy. It broke down at certain stages. But of course, you know the problem is that it's for four days only today have been for the Gaza residents two point one million of them who've been living under daily bombardment for almost seven weeks. Today they finally came out, They left the shelter, they were able to walk around. But of course, at the back of their minds is they know that this arrangement may only last for four days, could be extended up to ten. But we don't know that yet. Before we get to what comes after, we do need to continue to discuss what comes in the midst of this pause. Part of this deal was to get more humanitarian aid into Gaza as well. Have we seen signs of progress there? Yes, we have. You know, there are trucks which are entering through the border with Egypt, the Rapha crossing. We understand from HOMAS officials border officials they expect two hundred trucks to enter Gaza today. This is significantly more than has been allowed to Gaza in recent weeks, but it's still much less than used to come prior to the war, five hundred a day. So the amount of aid that Gaza needs, you know, is way more than what is going to becoming in the next few days. But obviously it's a step in the right direction. And what about the distribution of that aid, because We've heard reports from the United Nations and other non governmental organizations in the area that they have suffered through these bombardments over the last several weeks as well. I mean, what's the difficulty in getting aid into and distributed through Gaza when we've seen so much destruction over the last several weeks. Well, obviously one of the greatest difficulties is the fact that you have an active war zone and it's extremely dangerous to move around. Secondly, there's an acute lack of fuel, so Israel imposed a complete blockade on fuel deliveries initially, and in the recent a week or so it has been allowing in very small quantities of fuel to be used only by the United Nations for transportation purposes. But the quantities of fuel coming in the UNSA that they're completely inadequate for its operations. So yeah, that is something which is still a big problem in the time we have left, Henry, Let's talk about what comes after this pause. We did hear from Israel's Prime Minister, and we've heard from him several times that he does not want the war to end even after this pause expires, but he is under a lot of pressure, particularly from the United States to at least change some of the conduct of this war. What can we expect going forward. I mean, I think that the pressure is only going to increase, and it's not only international pressure, and you mentioned the United States, that's very important. At the same time, there's a domestic issue here, the issue of the hostages. Two hundred and forty were taken into Gaza until now only a handful have been released. Fifty are going to be set free over the next four days. Some of these people are going to be giving interviews, They are going to you know, the public awareness of the hostagism and the kind of conditions in which they are living in Gaza is going to be accentuated, and I think that is going to be something that will weigh very heavily on the Israeli government. Probably not sufficient to get them to stop the conflict at this stage, but I think we are getting closer to that point. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by six am Easter each morning, on Apple's Spotify and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Sirius xmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm John Tucker. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg day BreakSee 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Bloomberg Daybreak: US Edition
Microsoft CEO on Sam Altman and OpenAI Drama; Hostage Talks Progress Between Israel and Hamas

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 21, 2023 22:37 Transcription Available


On today's podcast: 1) OpenAI said it's in “intense discussions” to unify the company after another tumultuous day that saw most employees threaten to quit if Sam Altman doesn't return as chief executive officer.  2) Microsoft Chief Executive Officer Satya Nadella signaled that he'd be open to Sam Altman going back to OpenAI, rather than joining his company as part of a surprise move announced over the weekend. 3) The leader of Hamas said his group was close to reaching a “truce agreement” with Israel via Qatari mediation in rare public comments that suggest talks over freeing some hostages held by the Gaza-based group are progressing. 4) Nvidia's quarterly results could still exceed sky-high investor expectations thanks to strong demand for generative artificial intelligence.   Full transcript:  Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with the controversy surrounding open Ai. A day after the founder, Sam Altman left for Microsoft, the firm says it is in quote intense discussions to unify the company. In an internal memo reviewed by Bloomberg News, Vice president of Global Affairs, Anna Macanju says open Ai management is also in touch with Aldman. In an interview with Bloomberg News, Microsoft CEO Satia Nadella signaled he would be open to Aldman going back to open ai. We really want to partner with open ai, and we want to partner with Sam. And so you respect to where Sam is. He's working with Microsoft, and that is the case on Friday, and that'll be that's the case today, and we will I absolutely believe that'll be the case tomorrow. Microsoft CEO Satia Nadella says, no matter what happens, open ai needs governance changes. Microsoft shares closed at a record high yesterday. Nearly all of open AI's employees threatened to quit and follow Altman to Microsoft unless the current board resign. Gene Munster managing partner at deep Water Asset Management thinks Altman will land back at open AI. The board's going to be gone. So when if Altman goes back, by the way, that is my prediction what happens here. I think he's actually going to return to open AI. If he goes back to open AI, they're going to be more aggressive at opening these models up. And if he stays with Microsoft, they're going to be more aggressive. And I think at the end of the day, you're probably going to see faster adoption of AI features. It's been coming at a neck break speed, but I think it's going to be even faster based on everything that's happened here. This is really allowing Altman to take his gloves off and probably do what he's wanted to do for the last eight years, and that's deep Water Asset Management's Gene Munster speaking to Bloomberg. Now, let's get to the latest from the Middle East. The leader of Hamas Ismail Hania says his group is close to reaching a truce agreement with Israel through talks mediated by contract President Biden has said both sides are near a deal to free some of the two hundred and forty hostages Hamas seized in the October seventh attack. White House National Security spokesman John Kirby says there would need to be a pause in the fighting if you're going to secure the release of hostages, and we certainly hope we're going to be able to do that soon. You got to make sure they can get from where they are to safety and do that as safely as possible, which means you're going to have to have at least a temporary, localized stop in the fighting. White House spokesman John Kirby says it's been difficult getting information on the hostages because Hamas has control of that access. Meantime, Israeli forces continue to engage in heavy fighting in the Northern Gaza Strip. Israel's taking control of much of the Alshifa Hospital, which it says Hamas used as a command and control center. Well Nathan, the White House is open accounts on Meta's social media platform as threads for the President and Vice President, and Bloomberg said Baxter has the details. The White House says it's just another way to meet people where they are. It says it's been using different forms of media since the beginning of the administration, and this has been in motion for several weeks now, but the timing does come in the wake of Elon Musk's endorsement of antisemitic content, and according to sources, the White House is not considering ending its use of ex accounts because of that, although they do say the Musk post angered Biden and his aides Ed Baxter Bloomberg Radio OK, thank you. A new front's opening in the US China chip conflict. President Biden is shifting focus to an emerging area of the contest for technological supremacy, the process of packaging semiconductors that has increasingly seen as a path to achieving higher performance. The US isn't alone though, in recognizing the potential of so called advanced packaging. China too is capitalizing on an area that is not subject to sanctions, capturing global market share and achieving progress that it was denied in manufacturing high end chips well staying with ships. Nathan Nvidia reports earnings after the bill. The high flying semiconductor stock is up two hundred and forty five percent so far this year year. Mandy Singh, senior technology analysts for Bloomberg's and Video shares closed at an all time high yesterday, and Karen was staying on the earnings front. Zoom reported better than expected revenue on strong enterprise sales. The company who signature video software became the essential communications tool for home bound Americans during the pandemic, has now turned its focus to business customers, as Zoom has added features for those clients, including word processing, and stepped up the use of artificial intelligence to buttress its main video conferencing service. Nathan Investors also have their eyes on US treasuries, wondering if the world's deepest dead market will suffer a third straight year of losses, and we get more in this live report from Bloomberg's John Tucker. John, Good morning, Karen. Investors who anticipated twenty twenty three would be the year of the bond were instead hit by waves of turmoil, but the year may have a happy ending, as treasury sore this month, traders now bet the Fed is done with hiking interest rates and in fact will cut rates of the first half of next year. You hope that happy narrative gets support when the Fed today releases minutes of its last policy meeting. The surgeon bond price has also got a green light to continue yesterday after an auction of twenty year debt went off without a hitch. US treasuries have gained two point six percent this month through Friday, cutting the loss for the year to merely two tenths of a percent, according to data compiled by Bloomberg John Tucker Bloomberg Radio, All right, John, thank you. Finally, as we approach the Thanksgiving holiday, Black Friday and Cyber Monday, spending are projected to hit new highs. Consumers plan to spend an average of five hundred and sixty seven dollars during those two shopping events. That would be a thirteen percent increase from last year. That result is a record for Deloitte's annual Black Friday Cyber Monday survey. About eighty four percent of shoppers say they feel confident enough to stick with the budgets they set in September four and ten say they will finish their holiday shopping during this long holiday weekend, futures pointing to a month honestly hire open this morning on Wall Street. This is Bloomberg sor Ry Nathan. Thanks. It's time now for a look at some of the other stories making news around the world. For that were joined by Bloomberg's Amy Morris Amy, Good Morning, Good morning, Karen. Police in Ohio see a shooter opened fire at a Walmart, wounding four people before apparently killing himself. The attack took place last night out of Walmart and Beaver Creek in the Dayton metropolitan area. Beaver Creek Police Captain Scott Molnar says the four victims are currently being treated for their injuries. Centured four victims. The conditions of the victims right now is unknown, as they were all transported to area hospitals for treatment. Police did not immediately release the name of the gunman or a possible motive for the attack. Meanwhile, in Colorado, another mass shooting, police say three people are dead and fourth is in critical condition after a gunman opened fire in Custer County. Police say that gunman is on the run. They believe he was in a civil dispute with one of the victims over property lines. Donald Trump's gag order our hearing is over a panel of three federal appeals witnesses appeared reluctant to give Trump a green light to resume public attacks on witnesses, prosecutors, and court staff, but they did signal that they would be open to narrowing the scope of the gag order. Judge Patricia Millett, we certainly want to make sure that the criminal trial process and its integrity as truth finding function are protected. Use a careful scalpel here and not step into really sort of skewing in the political arena, don't we. The DC Circuit put the case on a fast track rather than a typical appeal, but did not say when it plans to rule. Trump's lawyers have already said they'll ask the Supreme Court to intervene if the Appeals Court doesn't lift the full order. Thanksgivings just two days away, but the travel rush is already underway by road, railer, runway. Millions of Americans are traveling this week. TSA expects this to be one of the busiest travel periods of the year. This traveler, flying out of the Oakland International Airport refuses to lose her cool if things go awry. I imagine there'll be a few, But how does your roll with it? Triple A says Today and tomorrow our peak travel windows, when nearly five million people will pass through airports, a million people will ride the rails, and fifty million Americans will be on the highway global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morrison. This is Bloomberg Karen. All right, Amy, thank you what we do bring you news throughout the day right here on Bloomberg Radio. But as you heard Amy say, now, you can get the latest news on demand whenever you want it. Just subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify, and anywhere else you get your podcasts at his time. Now for the Bloomberg Sports Update, here's John stash Hour, John Karen. Philadelphia Eagles coach Nick Sirianni admits the previous game between his team and the Kansas City Chiefs a little bit more important. That was last February Super Bowl won by k C. But the Eagles did get some revenge and a Monday night or at Arrowhead Stadium, winning twenty one to seventeen. They trailed seventeen to seven at halftime. Jalen Hurts scored a touchdown on the third quarter and then the go ahead TV on a quarterback sneak cappin in eighty yar drive. With six point twenty remain the Eagles are nine to one to the first team since the Colts in two thousand and five and six to start consecutive seasons with that good of a record. Quarterback change in New York no surprise the Jets benching the struggling Zach Wilson, turning to Tim Boyle, who's only made three NFL starts and has never won a game. Joe Flacco signing with the Cleveland Browns, although the Browns will keep Dorian Thompson Robinson the rookie as their starter, replacing the injury to Shawn Watson. Gino Smith as an elbow injury, hopeful that he can play for Seattle in the game Thursday night against the forty nine Ers, I'm sending the NBA. Charlotte beat the Celtics at overtime one twenty one to one eighteen. The Hornets had lost four in a row. It ends the Celtics six game winning street. Jason Tatum scored forty five in the loss. The Warriors had lost six in a row, but Steph Curry back in the lineup, but he scored thirty two in a one twenty one one sixteen win over Houston. Six straight loss for Washington being home by Milwaukee one forty two to one twenty nine. Giannis Duntractempo scored forty two shot twenty of twenty three. Bruins lost in overtime at Tampa Bay John Station with Bloomberg Sports Ken all right, John, thank you. Coming up on Bloomberg day Break. You've been hearing a lot about Open Ai and Sam Altman and Microsoft. Of course, we'll be talking to the Microsoft CEO, Satia Nadella. He joined our Emily Chang, and he's going to discuss this entire story with us straight ahead. And ahead of that conversation, futures are lower with SNP futures down a tenth of a percent, down about five points. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We continue to follow the saga at open Ai after a whirlwind of events over the weekend led to the ouster of co founder Sam Aldman, only for Microsoft to bring him on. Microsoft CEO Satya Nadella joined Bloomberg's Emily Chang to discuss the hiring of Sam Maltman as OpenAI investors push for Altman to come back. They also spoke about Microsoft's partnership with the company and its goals for artificial intelligence. Let's bring you that conversation now, Satya. Obviously, it's been a very fast moving and dramatic last of seventy two to forty eight hours, and I want to start with the state of play. Where are we now? Open ai says it's hired a new CEO. We're reporting their efforts to get Sam Altman back. Tell us where things stand. Well, first of all, having it's great to be with you, you know, on Friday morning, we were very excited, committed and confident in our innovation roadmap to bring this next generation of AI to our customers. And we feel fantastic and capable of doing that. And we were partnered with open ai, and we were partnered with Sam and that's exactly where I am on Monday afternoon, if you will, because we think that we can. You know, we are leading in this next generation of AI technology. We continue to be committed to open ai, and we continue to be committed to Sam and Greg and the team in respect you where they are. And you know, I think about Sam has chosen multiple times now to work with us, and that's fantastic to see. And I think the real thing is that the capability that Microsoft has across the tech stack is what attracts great people like Sam, you know, and people like Sam, and you know, innovators like Sam when it comes to AI, to come to us, and we are thrilled about it. You incredibly quickly hired Sam as well as Greg. We are hearing that Sam wants to return. Investors want him to return to open ai. How would you feel about that? Yeah, as I said, we really want to partner with open ai and we want to partner with Sam. And so in respect you of where Sam is, he's working with Microsoft. And that is the case on Friday, and that'll be that's the case today and we will I absolutely believe that that will be the case tomorrow. So what are the conversations you've had with open AI's current board from their perspective, where do things stand? And have you talked with Emmett Sheer, the new interim CEO. Yeah, I've had conversations with Emmett, and again it's the same thing. There's no real difference there from where we were when we were working with Mira and she was interim CEO, when Sam was CEO and Emmett So my message to them Emmett is very clear, which is, hey, look, we remain very very committed to open ai and it's mission and it's sort of roadmap and they can count on us. And then, as I said, we also are very committed to Sam and Greg and team that want to join us. If they're not at open ai or anyone else who's at open ai wants to go somewhere else, we want them to come to Microsoft and continue to work here and win partnership with open ai. To your knowledge, why was Sam fired and to your knowledge was he involved in any wrongdoing? Has the board given you a reason? As far as I'm concerned, you know, we were, as I said, we were very confident in Sam and his leadership team. I've not been told about anything. You know, they published internally at open ai that there is not that the board has not talked about anything that Sam did other than some breakdown in communications. And you know, I'm not directly and was told by anyone from their board about any issues. And so therefore I remain confident in Sam and his leadership and capability, and that's why you know, we want to welcome him to Microsoft. Now, we understand that to support a return of Sam mom and too open Ai, Microsoft wants some changes to the board, to governance, to its overall contract with open ai, so something like this never happens. Again, what specifically are you looking for, for example, would you want to board see and if not, what else? Yeah, I mean I think we definitely will want some governance changes. So then you know, you know, surprises are bad and we just want to make sure that things are done in a way that will allow us to continue to partner. Well that's about it, right. You know, this idea that somehow, you know, suddenly changes happen without being you know, in the loop is not good. And we will definitely ensure that some of the changes that are needed to happen and we continue to be able to go along on the partnership with open AI. So how are you envisioning this role with the sort of you know, advanced AI team that Sam and Greg would be joining and leading. Can you explain that? And are they actually Microsoft employees right now? Like who do they work for? Yeah, so they're all in the process of joining, and yes, I mean the thing is that you know, we have a ton of AI expertise in this company. You know, in fact, at Aurignite conference last week, we talked about all of the great work open aies doing and on Azure and all the models and tools that we built around it. And we also talked about all the open source models that are on Azure from you know, Lama and miss Stral and jas and everything you know. And then also you know, in fact, not only are we leaders in llms in partnership with open ai, but we're also leaders in SLMs or the small language models with five and we talked about that, which is all developed by Microsoft Research. So what we am excited about is sort of creating another team that's really going to have high ambition on leading edge advanced day I work that Sam and Greg are excited about. This is something that you know, we've talked a lot about with them. You know, what happens in twenty five, what happens in thirty What do we do to advance both the system side the science side. And that's the thing that we will be pushing on. Now. Many folks I'm speaking with don't see Sam as a sort of big tech company guy. He has all of these side product projects that you know, we've already heard about, we've reported on new projects. Would he be able to pursue these side projects while being employed by Microsoft? Yeah, I'm sure you know, Like you know, Sam has got broad interests and broad investments and so on, and we'll definitely, you know, work through the governance aspects of it. But most importantly, I think you would want to only work at Microsoft if he wants to spend his full time time on really pursuing the mission, just like how we were spending his time on open AI. And so that's kind of the idea behind having him lead this advanced research team around AI with Greg and others. And you know, that's an exciting thing for us to look forward to. I'm curious just your reaction to you know, the last three days of events. Are you now more concerned than ever about AI safety, given we've seen clearly how fragile these institutions are. It's a great point. I mean, the thing that I think, in some sense, I've always felt that we should think about the unintended consequences of any great advances in technology from day one, versus dealing with them later. So in some sense I welcome this dialogue, if you will, of safety and safety first, even in technology and technological development, right, I mean, that's I think in some sense it should be celebrated that we as a tech industry have gotten to a place where we don't think of this as a tradeoff, but we think about this as two considerations that are both first class. Right. One is how do we build technology so that everybody in the world can have a doctor, an X that they can reach, or a tutor or you know, a rural farmer in India has more agency because of technology that was developed in the West Coast of the United States a few months earlier. These are unbelievable things that democratize access on one side, but on the other side, being grounded on the here and now harms right, whether it's election interference or deep fakes or bias or bioterrorism and having the guardrails against it or even some of the you know, AI take off existential risks and the alignment research that is required. So I think that there is a real robust dialogue that's happening, which is and real work. Like when I think about Microsoft, we have done, in fact, some of the biggest most work around AI alignment, AI safety guardrails. So for example, even the open source models we launched last week all have benefit from all the guardrail work we did around open AYE models. So throughout the reporting process, we've heard, you know, concerns about potential regulatory issues and of course the power that Microsoft already has, the power that Microsoft has in AI. Have you, on your end work through all the potential legal issues at play here? I mean, I just spoke to one investor who said, you know, they're considering suing open ai, Like, you know, there's a lot of things that have yet it seems to be figured out. And do you know what Microsoft's legal liability is and open AI's legal liability is given your significant investment there, Yeah, Look, I'm I'm most focused on and most excited about our ability to continue to innovate. Emily I mean, I let the lawyers sort of figured out what liabilities are. But I think we have all the capability, all the IP and all the things that we need in order to continue to essentially control our destiny here so that we can continue to innovate on behalf of our customers. That's what matters, That's what makes Microsoft Microsoft, and we'll continue to do what we need to do. Okay, so quick, last question, this is today. Who's going to be CEO of open Ai Tomorrow? You tell me I will leave it to open Ai and it's bored. Microsoft Ceosatia Nadella says, no matter what happens, open Ai needs governance changes. Microsoft shares clothes at a record high yesterday. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Election devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERRIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Microsoft Hires OpenAI Co-Founder Altman; Hostage Talks Progress in Israel-Hamas War

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 20, 2023 23:51 Transcription Available


On today's podcast: 1) OpenAI co-founder Sam Altman is joining Microsoft to lead its AI effort after the board replaced him with Twitch's ex-CEO, a stunning reversal for the widely respected tech-evangelist who helped jumpstart the artificial intelligence boom. 2) Israeli forces engaged in heavy fighting with Hamas in the northern Gaza Strip overnight as the US said it was optimistic about a deal to free hostages held by the militant group. 3) Elon Musk railed against “bogus” media reports accusing him of antisemitism, issuing his strongest response yet after endorsing antisemitic content in a post on X that provoked outrage and alienated advertisers like Apple Inc. 4) Rosalynn Carter, who broke new ground as an activist US first lady by attending her husband's Cabinet meetings and leading a presidential effort to improve care for the mentally ill, all while raising a young daughter at the White House, has died. She was 96. Full Transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, we begin with a wild weekend in the world of artificial intelligence. Less than seventy two hours after he was ousted at OpenAI, the company behind chat GPT, which he helped to create, Sam Aldman has now been hired by Microsoft. He's going to lead Microsoft's new in house artificial intelligence team. Bloomberg Original's host A Zimazhar, author of AI newsletter Exponential View, says Microsoft CEO Satya Nadella didn't waste time nabbing old men. Satya has moved very quickly to shore up the commitments he has made to his customers. Microsoft has made a big bet on open ai, and the technology was now powering so many Microsoft products, including their most premium office Suite through the co pilot that was sort of part supported by OpenAI. So I think this is a very very rapid move on his part to ensure that Microsoft can continue to be a leader in developing and deploying AI systems for enceerprises. Bloomberg Original's host A zim Oshar says Greg Brockman and open ai co founder who also left, is going to be joining Altman at Microsoft as well, and right now shares of Microsoft are hire by two and a half percent in early trading. Well, Nathan Altman was fired on Friday after the board of open Ai said they lost confidence in him as a leader, and Bloomberg's Rachel Metz says open Ai offered few clues as to the reasons for the departure. Open ai leadership has put out memos internally at the company, saying that the board hasn't said that there was any quote mal season or anything like that, so it's not totally clear what the board was initially even accusing him of doing when it got rid of him, and Bloomberg's Rachel Metz says open AI's board hired former Twitch chief Emitted Sheer as chief executive. Microsoft CEO Sunny and Adela said his company looks forward to working with Sheer and remains admitted to the open Ai relationship. Well Karen, Another big name in tech is in the news this morning for a very different reason. Elon Musk is defending himself after an anti Semitic furor has deepened. More on that this morning from Bloomberg's John Tucker, John and Nathan Musk posted on x that he is not anti Semitic and he wishes only the best for humanity. A backlash erupted last week after the head of Tesla and AX agreed with a post that said Jewish people hold a dialectical hatred of white people advertised there's like Apple and Walt Disney pulled away from Max. What we used to know is Twitter. The Financial Times Meantime reports that advertising executives privately urged X CEO Linda Yakarino over the weekend to resign in order to save her reputation. A Musk is a track record of promoting hate speech, but not everyone is abandoned Musk. Hedge fund manager Bill Ackman was among those who leapt a Musk's defense. I'm John Tucker, Bloomberg Radio, Right, John, Thank you now. To the latest. In the Middle East, the White House says a deal is as close as it's ever been for Hamas to release hostages in exchange for Israel foreing Palestinian women and children from its prisons. Deputy National Security Advisor John Finer says the agreement could involve a multi day pause in the fighting in Gaza. That would first and foremost enable the hostages to actually be released safely, but that would also make it much easier to both bring humanitarian assistance into Gaza and also distribute that assistance. John Finer at the White House spoke on ABC's This Week Heard Sundays on Bloomberg Radio. Israel also released video of a tunnel chef near the Alshifa Hospital in Gaza City. Rear Admiral and Daniel Hungary with the Israel Defense Forces says it proves Hamas used the facility as a command center. Hamas was hiding and murdering our hostages in Shifa Hospital. Hamas was building terror tunnels underneath Shifa Hospital. Israel's government also says around back who he wearbules and Yemen hijacked a cargo ship in the Red Sea, being a key global shipping route elsewhere globally. In Argentina, Karen libertarian outsider Javier Malay will become the country's new president. Malay's promising a radical shakeup to fix decades of policy mismanagement. Speaking to crowds in Buenos Aires, the president to like to stress the need for immediate action, promise the situation in Argentina is critical. The changes that this country needs are drastic. There's no room for gradual measure, and there's no way to say it. Long lived freedom. Javier Malay spoke there through an interpreter and also highlighted Argentina's critical economic condition in that address to supporters. Markets in Argentina are close today for public holiday. Well Nathan, the world mourning the loss of former First Lady Rosalind Carter, and Bloomberg's Ed Baxter has more on the passing of the wife of former President Jimmy Carter. Rosalind Carter has been a tireless humanitarian both during the administration and then after, also a mental health advocate of the First Order. Two years ago, she was asked what makes a happy marriage. She says, many different things, but trying to make each other happy every day and do things together. We're always looking to do things for fine things we can do together. She has been at hospice care. At Baxter Bloomberg Radio, All right, Ed, thank you, Let's get you caught up on some corporate news this morning. We're watching shares of bay Or. They are plunging more than twenty percent. The German pharma and agriculture company stop the main study of its top experimental medicine due to a lack of efficacy. Beyer also lost a key US trial against its we'd killer roundup. And Nathan chares at Julius Bear. They are down about ten and a half percent. The Zurich based bank warning it's full of your profit will probably decline. The firm says provisions for bad loans. Jumped futures on Wall Street are higher. SMP futures up a tenth of a percent, as our down futures. Nasdaq futures up two tenths of one percent. Treasury yield right now four point four to four percent. This is Bloomberg, all right, Nathan, Thanks, It's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. See me, Good morning, Good morning, Karen. Former President Donald Trump and Texas Governor Greg Abbott served Thanksgiving meals yesterday and an airport hangar near the southern border to nearly two hundred border officials who will be stationed on the border over Thanksgiving. Afterwards, the governor endorsed Trump's twenty twenty four bid for the White House. I'm here today to officially proclaim my endorsement for Donald J. Trump to be President of the United States of America again. Abbot praising Trump for his border policies and battle to New York Representative George Santos face is another resolution to expel him from the House after the Thanksgiving holiday, Ethics Committee member and fellow New York Republican Andrew Garbarino tells ABC News he was shocked by what the investigation uncovered. He took every opportunity of available to him as a candidate to really gain the system offer his personal benefit. I wish I knew it was gonna be bad. I didn't think it was going to be this bad. The House Ethics Committee released its report into what investigators described as quote a complex web of unlawful activity involving Representative Santo's campaign, personal and business finances. The major Los Angeles roadway damaged by arson more than a week ago, reopened way ahead of schedule yesterday evening. California Governor Gavin Newsom says the iten will be fully operational for this morning's commute, but the work continues when well we see those permanent fixes secured. That will be over the course of many weeks, maybe a few months, but that won't significantly impact the commute or impact the five lanes that are now open in both directions. A Lease are searching for a suspect in that fire. They're asking for the public's help. Airports across the country are bracing for record Thanksgiving travel this week. TSA expecting to screen thirty million passengers over the holiday. Thomas grab is in Detroit. He's flying to New Orleans, but he's not expecting big crowds at the airport while he's there. I'm not expecting delays because I'm leaving on Thanksgiving Day, so a lot of people try to leave before. Sunday after Thanksgiving is projected to be the busiest day, with an estimated two point nine million passengers. Take into the skies. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm Amy Morrison. This is Bloomberg Karen. All right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you wanted. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stashauer, John Karen. No one could have expected this late in the NFL season for the Detroit Lions to have the second best record in the league. They are now eight and two. It's their best start to season since nineteen sixty two. They come back in Detroit. The Lions trailed the Bears by twelve points with three minutes left. Lions came back to win thirty one twenty sixtyes fight an off day for their quarterback Jared goff k through three interceptions. The Cowboys are seven to three, a point defferential of plus one twenty seven, tied with Baltimore for the best in the league. Cowboys won easily at Carolina thirty three to ten, forty nine ers, also seven to three. Brock perty twenty one of twenty five, three hundred and thirty five yards three touchdowns, including the seventy six yard to Brandon Ayu. Forty nine Ers beat the Bucks twenty seven to fourteen. The game last night won by Denver a Russell Wilson touchdown pass to Courtland Sutton with a minute ago. The Broncos fourth winning a row twenty one to twenty over the Vikings, who saw their five game winning streak come to an end. Good one tonight. It's the eight and one Eagles and the seven and two Chiefs. It's in Kansas City. It's a Super Bowl rematch. Syracuse has fired it's football coach. Dino Babers. Had the job for eight years, went forty one and fifty five. So add Syracuse to the list of schools we'll be looking for a coach for next year. Aaron Nola has already pitched nine seasons for the Phillies and he is stained put. He was a free agent but re upped with the phil seven years, one hundred and seventy two million. The f one raised in Las Vegas won by Max vers Stapp, and he's already won the season championship. John stash Awer Bloomberg Sports. Karen all Right, John Stashauer, thank you well. Coming up on Bloomberg Daybreak. We are going to be speaking with our own Creedy Gupta. We'll be discussing that changes at open Ai and of course Sam Altman going over to Microsoft again. That's coming up with Crety Gupta, and then we'll get the latest on the war in the Middle East. We'll be joined by Israeli government spokesman Alon Levy ahead of those conversations, though, futures on the rise, with SNP futures up a tenth of ve percent, up about six points this morning. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager on the end of what could be the end of a head spinning few days. Just keeping on top of what's been happening at OpenAI. It started with the sudden announcement on Friday that CEO Sam Altman was being ousted, then a tug of war between open AI's board and its biggest investors to try to get Altman back. Now the word this morning that Sam Altman and OpenAI founder Greg Brockman have landed at Microsoft, one of those biggest open Ai investors, to run Microsoft's in house AI team. Let's get more on all this now we're joined by Bloomberg's Critty Gupta. Did I sum it up well enough? There? Critty? You did? And yet there's still so much more to pack. I mean, this saga is so fascinating. Nathan. You mentioned Microsoft and Opening I clearly have a close relationship. Let's put some numbers on it. Microsoft has a forty nine percent stake in open Ai. But now I guess the question is, what do you do with that steak? If Sam Altmant and I believe it's been reported that half of the company's employees have followed him, are now going to be absorbed into Microsoft itself. But Nathan, I think we shop at the market moves here MSFT, your ticker hired by two point six percent off that news. Macro read through as well if you don't care about Microsoft specifically, Nasdaq futures popped on the news when they broke at about eight am London time, So again something to watch very closely, but also read through into alphabet Google shares goog down about one percent. Because now we are in direct competition with Alphabet's offering of their own AI platform, Deep Mind. So you are starting to see this become a true kind of competitive take between Microsoft and Alphabet when it comes to the AI, even more of an arms race potentially when it comes to artificial intelligence. And what does it say now when you have the leadership of open ai now in charge of Microsoft's in house team, and at least at the moment, Microsoft is saying they still want to have that relationship with open Ai. I mean can they? I mean, in theory they can because of that forty nine percent stake that exists. But I guess the question now really goes to words more and this is not my area of expertise and manly intellectual property and where the founding of it is. If you look at the makeup of the board of open Ai, the board that ousted Sam Altman, by the way, it's made up of basically the brains behind chat GPT, you're chief scientist for example, that Sam Altman was notably at odds with even Mira Marati, she was the chief technical officer over at open Ai before she became interim CEO. She's been advocating for Sam to actually come back to the board, but other members of the board include experts in tech who were actually able to help create it. There is a thought out there that perhaps Microsoft would want to kind of not only create their own AI team, but also have that exposure to whatever it is open Ai takes on next, especially under their new leadership of the former Twitch CEO Emmett Shecher. All right, Bloomberg's Critti Gupta will be checking back with you as we continue to monitor developments with Sam Altman, now former CEO of open Ai, landing at Microsoft to lead their artificial intelligence team. Now, we want to turn to the Middle East, where Israel and Hamas are said to be closer than ever to reaching a deal to free hostages taken in the October seventh attack that's set off the war in Gaza. That would be an exchange we're told for a multi day pause in the fighting for more. We're joined now by Israeli government spokesman Alon Levy. It's good to have you back on with us here on Bloomberg. Alon, can you give us any further clarity on where things stand on these hostage talks? Israeli society is, of course sick with worry for the fate of our two hundred and forty hostages, including thirty children. I really do mean sick with worry. People aren't sleeping properly. We're doing everything we can to bring them home. You'll understand that I can't comment on sensitive negotiations that are ongoing because human lives hang in the balance. We hope to bring these people home, but the less we say the better. At this point, are you hoping to get all the hostages back? How would it work in terms of the number of hostages that could be returned, and what would that mean for the progress of the war. We have two goals in this war in response to the October seventh massacre. The first is to totally destroy Hamas's governing and terrorist infrastructure inside the Gaza strips so it can never pose a threat to our people again. And the second is to bring all of our hostages home. That is the goal of this war. We hope that they will be brought safe and sound. Unfortunately it's been too late for some of them. Corporal Noah Marciano, age nineteen, was a female soldier. Yesterday we revealed that she was executed by Hamas on the grounds of the Shifa Hospital. We're doing everything we can to get the rest of the hostages out, including the thirty children, including the ten toddlers under the age of five. We're sick with worry for them. We're demanding their immediate and unconditional release, and we're calling on the whole world to put all possible pressure on Hamas and its supporters. There is no excuse for abducting babies from their beds and holding them in communicado for forty five days in a dark tunnel somewhere. To your point about Hamas reportedly using that hospital or Shifa Hospital as an execution point four hostages, that raises the question once again about whether Hamas used that hospital itself as a command and control center. I know the Israeli military has a released video that shows tunnel shafts near that facility. Does that prove that Hamas used that facility as a military post? All the people who've spent the last few days pretending that the Hamas terror tunnels were the next Saddam WMD's look very silly now that the evidence has come to light. Last night, the IDF released footage of a tunnel that stretches. The shaft stretches ten meters underground on the grounds of the Shifa Hospital. It then extends for fifty five meters until you reach a blast door with a gun hole in it. Now, I don't know whether you've ever seen a blast door with a gun hole in an underground tunnel in hospitals near where you are. We certainly don't have them here in Israel. And that's in addition to the evidence that Hamas used the Sheifa Hospital on October seventh in order to hold hostages. Yesterday, we released CCTV footage from inside the hospital showing two hostages, anpoorly and a Thai citizen by the way, being manhandled into the hospital. One of them doesn't appear to be wounded at all, and he's being dragged in by terrorists with a meat kleaver and with guns. The evidence is there for all to see. Unfortunately, the World Health Organization, none of the other UN agencies that have for many years been covering up for Hamas, have found the moral courage to condemn Hamas's use of hospitals as human shields. And we're demanding full accountability from these agencies that most probably knew and said nothing and still continue to say nothing. Obviously, we in Israel are suffering from this deep systemic rot in these international institutions, but they're failing the global community as well when something like terrorists using hospitals as a command center is something that they cannot go on the record and condemn. And to that point, Alon, there has been the concern raised as well as you alluded to, from the World Health Organization, the United Nations, and now the United States about the risk of civilians, non combatants, being casualties. Now, with the fighting moving into hospitals and into schools as well, how can you minimize the risk of further civilian casualties in this conflict. We are targeting Hamas everything we can to get civilians out of harm's way. Unfortunately, on October seventh, Hamas declared war on us with the brutal October seventh massacre, and it chose to fight that war from within densely populated areas. You know, Hamas's whole strategy is based on human shields. It sounds evil, it sounds cynical, and that's because it is. Hamas has spent sixteen years embedding itself under civilian areas so that it can hide behind women and children. And as our soldiers have gone through the Gaza Strip, we have uncovered tunnel shafts underneath a child's bed. We found missiles in the compartment under a girl's mattress. We found rocket launchers with the cables leading into clinics and mosques. And we've spent the last month urging civilians in northern Gaza to get out of the way because the fighting is going to get dangerous. Because Hamas is trying to put them in harm's way. We're trying to get them out of harm's way. That's why we've been securing humanitarian corridors for people to leave. Our own soldiers have been shot at by Hamas terrorists with RPGs as we try to secure your safe passage for Palestinians to leave. And I have to say it's tragic that Israel has been urging an evacuation since October thirteenth because the fighting is going to get dangerous, and UN agencies resisted and said that couldn't happen. And now the World Health Organization has finally come around to Israel's way of thinking that that hospital has to be evacuated to keep people safe. It took thirty eight days, and we hold the World Health Organization complicit with Hamas's human shield strategy and with any loss of life that has taken place in that time because of its gross negligence, because it dragged its feet and refused to facilitate an evacuation before the ground offensive, and is now demanding that Israel complete that evacuation under fire, something we will of course continue to do because we don't want to see civilians heard we want to go after Hamas. In the last couple of days, Alon, we have heard that this war is moving into a new phase now with the fighting going on into hospitals. Can you explain more what the new phase of this war means. Is the fighting going to move further into southern Gaza. Israel is now operating deep inside Gaza City. We're striking at Hamas's control and command centers, and the Israeli Army Chief of Staff said just at the end of last week, we're approaching the end of our campaign in northern Gaza to root out Hamas infrastructure and will turn to the rest of the Gaza Strip. Our response to the October seventh massacre. To that horrific terror attack when twelve hundred people were butchered, massacred, tortured, mutilated, burned, alive, raped in the most brutal way imaginable, is to eliminate the terror organization that did that and is openly promising in interview after interview to do another October seventh, and another October seventh, and as many as it takes until they murder every man, woman, child in our country. This war must end with the total eradication of Hamas. And we know that we stand shoulder to shoulder with the Free Nations, with President by And in the United States, who wrote in the Washington Post yesterday, this war must end with the total destruction of Hamas. This war cannot end with Hamas free to reoffend, because if this war ends with Hammas still in power, it will perpetrate more atrocities against our people. It's a genocidal terror organization that openly says it wants to murder every person in this country, destroy the state of Israel, and we will not let it. This was the straw that broke a very strong camel's back, and this war will end with the end of Hammas. Thank you for joining us. Alon, I hope we can reach back out to you in the days to come. That's Alon Levy with us this morning, spokesman for the Israeli government. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg daybreakSee 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Bloomberg Daybreak: US Edition
Government Shutdown Averted; Gaza Telecom Services; AI Battle with China;

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 17, 2023 17:26 Transcription Available


On today's podcast: 1) President Joe Biden signed a stopgap bill to extend government funding into early 2024, averting a government shutdown for now but kicking a politically-divisive debate over federal spending into a presidential election year. 2) Gaza's telecommunications services stopped Thursday after providing companies said the fuel used for generators had been depleted, the United Nations Office for the Coordination of Humanitarian Affairs said. Syria's aerial defenses intercepted some Israeli missiles that were fired against targets in Damascus, state-run Sana news agency reported. 3) Alphabet Inc. Chief Executive Officer Sundar Pichai said he expects China to be “at the forefront” of artificial intelligence, and said it's important for the US to collaborate with the Asian nation on both regulation and innovation. 4) Embattled New York Republican George Santos announced he will not run for reelection to his seat in the US House.  The news came just after the GOP chairman of the House's ethics panel called Thursday for Santos's expulsion following a committee investigation that found “substantial evidence” the New York Republican violated federal criminal laws. 5) Cincinnati Bengals lose QB Joe Burrow with sprained wrist in loss to Baltimore Ravens. Ravens TE Mark Andrews is also injured.  Full transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. President Biden has ended the immediate threat of a government shutdown. He has signed a temporary spending bill that extends government funding into early next year. Bloomberg's Amy Morris has the details from Washington. President Biden signed the legislation yesterday while in California for a summit of APEC leaders. The bill maintains existing funding levels and pushes a fight over the federal budget into the new year. When Housublicans say they will push for stiff spending cuts. It splits the deadlines for passing full year appropriations bills into two days January nineteenth for some federal agencies February second for others. This short term package allows lawmakers to regroup over the Thanksgiving holiday while talks continue on spending in policy agreements in Washington. I maye more as Bloomberg Radio, Sorry, Amy, thanks by the stopgap bill does not include funding for Ukraine and Israel. In fact, new usaid for Ukraine risks slipping to mid December and maybe longer, casting doubt on Washington's ability to keep up the flow of weapons that both the Biden administration and the Ukrainian governments say is vital as soon as Congress could complete negotiations and pass new Ukraine assistance his mid December, nearly two months after President Joe Biden first requested sixty one billion dollars for the country in its war against Russia. Well, now, Karen, let's turn to the latest on the war in the Middle East. Israeli Prime Minister Benjamin Natanyahu is defending his country's raid on the Alshifa Hospital in Gaza City. He says, Israeli troops uncovered a Hamas command center underneath the facility. We had concrete evidence that there were terrorists chieftains and terrests. There are terrorists minions in the hospital, and in fact they fled as our forces approached. They fled. That's why we had no firefight. We entered that hospital with Arabic speaking Israeli doctors with incubators and we had no firefight. But Hamas was using the patients in that hospital as a human shield. Prime Minister n Antanyahu spoke on the CBS Evening News. Meanwhile, the Israeli military says it has taken control of Gaza's harbor. People in the southern city of Conyunis say Israel has dropped leaflets telling them to seek shelter and sirius as it's intercepted some Israeli missiles aimed at targets in Damascus. Well back in the U, asked Nathan. The Asia Pacific Economic Cooperation some it is wrapping up in San Francisco, and we're learning more about President Biden's deal with China's Sheshin Ping to crack down on Fentanel. The White House agreed to remove a Chinese organization accused of human rights abuses from its sanctions list change for Beijing's WHO operation about an administration official tells Bloomberg taking the Institute of Forensic Science off the Commerce Department's entity list was the only way for the US to make progress on the Fentandel crisis, and at the APEX Summit, Karen the CEO of Alphabet, said he expects China to be at the cutting edge of artificial intelligence development. Speaking with Bloomberg, Soon Darpshai warned the world's two biggest economies will have to work together on developing a framework for AI. My senses, there is no way you make progress over the long term without China and the US deeply talking to each other on something like AI. So I think that has got to be an integral part of how you make progress. So I think I'm glad to see it, and you know, we have to lay the foundations. The good thing is we are still in early days of the technology. Alphabet CEO Soon Darpuchai's comments come after business titans including Apples, Tim Cook, and Black Rocks Larry Fink, attended dinner with China's president on the sidelines of the APEC summit. Well, Nathan, we're seeing fall out this morning from Elon Musk's endorsement of an anti semitic social media post. A Tesla investor is calling for must to resign, and IBM has now suspended its advertising on X because of the proximity of its ads to Nazi posts. Bloomberg's Ed Baxter has the story. This comes amidst a swirl of controversy surrounding X and Elon Musk. In the past couple of days, watchdog group Media Matters reported out that IBM, Apple Oracle, Exfanity, and Bravo all had a placement. IBM opted off, saying IBM has zero tolerance for hate speech and discrimination. Meanwhile, the White House has reacted to a Musk post so that it says is anti semitic. NC spokesman John Kirby, we certainly abhorror comments that are anti Semitic in tone and certainly don't associate ourselves with the comment. Musk endorsed a post that said the Jewish community pushed hatred toward whites in San Francisco. I'm at Baxter Bloomberg Radio, okay, and thank you. Moving to mark It's now we're watching shares of applied materials in the pre market. They're down more than seven percent. Reuter's is reporting the largest maker of chip making machinery in the country is facing a criminal investigation for allegedly violating export restrictions to China. The report says the Justice Departments looking at whether Applied Materials sold hundreds of millions of dollars of equipment without the proper licenses. And Nathan, the escalating fight between the US and China, where technological dominance has triggered one of the most stunning reversals of corporate strategy yet. Ali Baba Group has walked back plans to spin off in list it's eleven billion dollar cloud business. Ali Baba shares dropped nine percent yesterday, wiping out more than twenty billion of market value. On the flip side, Karen Watching shares of Gap they are hired by more than eighteen percent. The retailer reported third quarter profit that exceeded forecast. Same store sales fell for a fourth straight quarter, but that decline was less than expected. Stronger results at Old Navy, GAP's biggest brand offset weakness at Athleta and Banana Republic. Crude oil has collapsed into a bear market Nathan. It's down twenty percent from its September high. CRUs run of four straight weekly decline so long as losing streak since May has come despite collective and voluntary supply cuts by the Organization of petroleum exporting Countries and its allies. The losses have also been embedded by the evaporation of an Israel Hamas war risk premium as fears the conflict would expand and disrupt oil supplies have so far not materialized. And it's time now for a look at some other stories making news around the world, and for that we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. The pressure is building for New York Congressman George Santos to resign or face expulsion. It follows a scathing House Ethics Committee report. Bloomberg's Nancy Lyons has that story. Committee Chairman Michael Guest says the evidence uncovered in the House investigation is more than sufficient to warrant punishment, and he plans to file an expulsion resolution. Wisconsin Republican Congressman Brian stone File tells Bloomberg's sound on the findings are alarming. The illegal actions that are set forward in this report are incredibly concerning. The report alleged Santos used campaign money to pay off his personal bills and to make luxury purchases. Santos responded to the report saying he would not run for reelection in Washington. Nancy lyons Bloomberg Radio and that expulsion resolution Nancy was talking about is expected to be filed by nine o'clock this morning in Washington. A New York appeals court says the gag orders imposed on Donald Trump by the judge in the state's civil fraud trial against him are unconstitutional, and the restrictions were put on hold pending for their arguments. The decision is a major win for Trump, who has publicly lambasted the judge overseeing the case and accused him of frampant bias. This is just one of six trials Trump is facing as he seeks re election. California officials say a section of Interstate ten in Los Angeles that was damaged in a fire last week will reopen earlier then expected. Governor Gavin Newsom's said the mile long stretch of interstate will be open to traffic again weeks ahead of time after the state doubled the crews working on those repairs. One thing we can guarantee you is we will be opened five lanes in both directions at the latest Tuesday of next week. Fire officials say the fire was deliberately set in an arson investigation is ongoing. Secretary of State Antony Blincoln yesterday signed a civil nuclear cooperation agreement with the Philippines. At the signing ceremony, Secretary Blincoln said it is part of the US support for clean energy projects there with the Philippines leadership, we're also working together to develop a nuclear energy sector in their country to fuel a reliable, secure, and affordable clean energy future. The agreement allows the US to legally export nuclear equipment and material to the Philippines for peaceful uses. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Maybe Morris and this is Bloomberg Karen, all right, Amy, thank you well. We do bring you news throughout the day right here on Bloomberg. But now, as Amy said, you can get the latest news on demand whenever you want it. To subscribe to Bloomberg News Now to get the latest headlines of the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. It is time now for the Bloomberg Sports Update, and here's John stash Hour, John Karen. Big game in the AFC North the kickoff week eleven the Bengals and the Ravens. They both had four game industries come to an end this past Sunday. All the More started things off with a seventy five hour touchdown drive. The Ravens then trailed in the second quarters. Edwards in the backfield. Lamarta throw fires down the middle, It's deflected at part, have a reflection Milsan Hagalore twenty fifteen come bo. Heflected for six. Hagle a deflection rave into the end zone Wbal. About a minute a half later, another Lamar Jackson TD passed. The Ravens beat the Bengals thirty four to twenty. Baltimore's eight and three and in first place. Cincinnati is just five and five and in the last place NBA and Miami. They he won their seventh in a row. Jemmy Butler scored thirty six in a win over Brooklyn. Oklahoma City made it five to last six, winning one twenty eight one to nine at Golden State. The Warriors have lost five in a row. They're just one and five at home. They went thirty three at and eight at home. Last year. They rode out the injured Steph Curry and without the suspended Draymond Green. MLB owners approved thirty to nothing in the move of the Oakland A's to Las Vegas, and they waive the relocation fee. The A's will be in Oakland in twenty twenty four, but the plan is to beat a new stadium in Vegas by twenty twenty eight. It's unclear where they might be playing in between. It's the first time an MLB team has moved in Montreal. Expos went to Washington in two thousand and five. Baseball has given the twenty twenty five All Star Game to Atlanta, who had it taken away after that voting law was passed in twenty twenty one. John Stasha our Bloomberg Sport from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on SYRIASXAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg daybreak, Good morning, I'm Nathan Hager. China will be at the forefront of artificial intelligence. That's what the CEO of Alphabet soon Dar Pashai, is saying. He says it is important for the US to collaborate with China on both regulation and innovation when it comes to AI. Pieshai, along with executives from Microsoft, City Group and Tesla, have been meeting with Chinese President Shi Jinping and US President Joe Biden at the APEX summit in San Francisco. After those meetings, the Alphabet CEO joined Bloomberg's Emily Chang and told her the world's two biggest economies do need to work together on AI regulation and development. It's not going to be easy, but I would start from this PREMI is that AI will proliferate, So this is not the inherent nature of software. AI advances will get out to in all countries, and so it is naturally the kind of technology. I don't think there's any unilateral safety to be had. We all have a shared incentive to solve for safety. You know, you could have AI go wrong in one country that will impact every other country. So in some ways, it's like climate change. In the planet. We all share a planet. I think that's true for AI. So now that you know that that will be true, I think you have to start building the frameworks globally to make progress. I've seen encouraging progress when the G seven happened in Hiroshima, I think it was a good start. You've seen more progress the Uki summit last week. The administration here, the White House has been leading the way as well, and I saw good encouraging announcements even yesterday for US in China to start having a dialogue on AI, well, that was my next question. Should Chinese regulators be part of this conversation on AI regulation? My sense is there is no way you make progress over the long term without China and the US deeply talking to each other on something like AI. So I think that has got to be an integral part of how you make progress. So I think I'm glad to see it. And you know, we have to lay the foundations. The good thing is we are still in early days of the technology, so laying the foundations now will allow us to work through the tough issues and build a common framework over time. How do you think AI? And obviously the US presidential election coming up as well. How do you think AI is going to further test election integrity? I think you know, over time, it's going to lower the barrier for creating you know, artificial information which may or may not matror what's happening in the real world, right, and that barrier will come down. So in this cat and mouse game, how do we amp up our defenses against that. We are in early stages, right. You know, we were one of the first companies to announce a water marketing technology for image generation. It's called Synthide, done by deep Mind, and we are providing API access to it. But all of us need to tackle it. These are areas where regulation will have to play a role, right. I think governments will have to overtime pass regulations about what is okay for you some of this synthetic content and so, which is why I think you have to think about it together. Open AI CEO Sam Mollman has said repeatedly he wants to know more about what's happening with AI in China. What do you know and what do you not know about where China is on AI. From what I can tell, they're making deep investments in AI. The scale of AI research talent in China. It's just simply astounding to see. So I think, you know, in some ways this question, China is going to be at the forefront of AI, and you know, I think that's a given. And so the question is how do we work over time, both for you know, other countries to make sure you're making progress in AI and over time, how do we develop the frameworks where you know, countries can coexist peacefully in a world in which AI will be you know, everywhere. You know, President Biden actually just said he doesn't see the USD coupling with China, but the world does seem to be on a path to two separate internets. Do we continue in that direction? And what does that mean? It's tough to say. You know, things go through in phases. I think we are definitely in a phase where there are more forces pulling it apart. But you know, inherently these technologies also facilitate easy exchange of information, so I think there are countervailing forces as well, So I think it's tough to predict. I do think information wants to flow freely by nature, So you know, my hope is over time, you know, thanks to couple back again. This is Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Biden Calls Xi A 'Dictator' After Meeting; Senate Votes to Avert Shutdown

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 16, 2023 17:34 Transcription Available


On today's podcast: 1) Presidents Joe Biden and Xi Jinping emerged from their first meeting in a year betting that a handful of small victories will arrest a surge in US-China tensions that has unnerved neighboring nations and threatened global economic growth. 2) President Joe Biden said he still believed his Chinese counterpart Xi Jinping was a dictator, casting a shadow over what both sides had characterized as their most productive meeting to date. 3) The US Senate overwhelmingly approved a temporary funding measure to avert a government shutdown, delaying a partisan clash over federal spending until the new year and leaving out emergency aid to allies Ukraine and Israel. 4) The Cleveland Browns announce QB Deshaun Watson is out for the season. Full transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the high stakes meeting between Presidents Joe Biden and she Jinping. They met for more than four hours on the sidelines of the APEX summit in San Francisco. President Biden called his discussions with China's leader some of the most productive he's ever had. I've been meeting with President Sheeshu's both us for vice president over ten years ago. Our meetings have always been canda stradeforward. We haven't always agreed, but they've been straightforward, and today build on the groundwork related over the past several months of high level diplomacy between our teams, We've made some important progress, I believe, and President Biden's words were echoed by President she China is ready to be a partner and friend of the United States. The fundamental princippos that we follow in handling China US relations are mutual respect, peaceful co existence, and wing wing corporation. China's president spoke there through an interpreter, but after the gathering, President Biden was asked whether he still considers China's leader a dictator. Look, he is. I mean he's a dictator in the sense that he is a guy who runs the country. That is collin Cocu based on formagart totally different than ours. And after President Biden's remark, China's Foreign ministry called the statement extremely incorrect and irresponsible political manipulation. Well Nathan asked for the actual meeting, Both Biden and Shi jinping Is say they reached a number of agreements. Bloomberg's ed Baxter has that part of the story, as well as fentanyl. High on President Biden's list is opening communication between the country's militaries. We're reassuming military to military contact direct contacts. As a lot of you press know follow this that's been cut off and it's been worse, and that's how accidents happened. Biden also saying the two agreed on finding ways to control ai Biden also says he was assured that China has no plan to invade Taiwan. Now. She did say that he told Biden that the US should not have plans to suppress China and also ask for sanctions to be removed. In San Francisco, I'm at Baxter Bloomberg Radio, and thank you. Some of Wall Street's elite attended dinner with Si Jinping. Black Rocks Larry Fink and Stephen Schwartzman of Blackstone were among the top executives seated at the Chinese leader's table, according to a program seen by Bloomberg News. Other big names and attendance were Apple's Tim Cook, Bridgewater associates Ray Dalio, and Pesla says Elon Musk also met with President she yesterday. Well Nathan some major developments out of Washington to avoid a government shut down. In a late night vote, the Senate overwhelmingly approved the House's short term spending bill. Bloomberg's Amy Morris reports from Washington. President Biden is expected to sign the bill that will extend government funding at current levels through two deadlines, one in mid January, the other in early February, but the bill did not include aid for Israel nor Ukraine. Senate Majority leader Chuck Schumer says that will be lawmaker's next priority after the holiday break. Both sides genuinely care about approving aid to Israel and Ukraine and helping innocent civilians in Gaza, so I hope we can come to an agreement even if neither side gets everything they insist on. And now the risk of partial government shutdown moves to January as House Speaker Johnson faces criticism from within his own party because he did not include deep spending cuts or changes to immigration policies. In Washington, Amy Morris Bloomberg Radio, Thank you. We now turned to the latest developments in the war in the Middle East. The Israeli military says it found a Hamas command center, weapons and technological assets at the Alshifa Hospital in Gaza City. Middle Eastern countries, including Jordan and Turkey, have condemned the raid. Israeli Prime Minister Benjamin Netanyahu, speaking through an interpreter says he makes no apologies for sending troops in. But we were told that we would not reach the outskirts of Gaza city. We arrived. We were told that we won't end to Shifa, but we entered, and in this spirit we say simple thing. There is no place in Gaza that we will not reach. Prime Minister Natanya, whose comments come as The Washington Post reports discussions are underway on a potential deal that would see Hamas free fifty women and children hostages in exchange for an extended pose and fighting, and the release of some Palestinians held in Israeli prisons. Well, Nathan, we turned to the markets now, and shares of Cisco plunging, the drop coming after it gave a disappointing forecast. We get more from Bloomberg's Doug Prisner CEO Chuck Robbins, who's trying to rea doue Cisco's dependency on one time sales of equipment by pushing deeper into software and services such as security. But the transition isn't complete enough to cushion Cisco from smaller corporate budgets, and the company is now projecting the weak environment. Will Linger because customers are taking a break from new orders to installed gear they've already received. In New York, I'm Doug Prisner, Bloomberg Radio. All right, Doug. Thanks, and Cisco's shares are down nearly eleven percent in the pre market. Earnings continue this morning, with the nation's biggest retailer reporting. Get a preview of that from Bloomberg's Tom Busby. Walmart's expected to report that sales growth slow to four percent last quarter. That's less than half the pace from just a year ago as consumers pulled back on their discretionary spending, but sales of food and healthcare products should be resilient and outpaced demand for that general merchandise adjusted ernis per share estimated to be a dollar fifty two total revenue of one hundred and fifty nine point one three billion dollars. Tom Buzby, Bloomberg Radio, all right, Tom, Thanks. Well. In Europe, shares a Berber down almost nine percent. The UK luxury retailer is warning this year's revenue target maybe out of reach after sales barely grew in the most recent quarter. And Karen, we have a big deal for chocolate lovers this morning. US Candy company Mars, has agreed to buy the UK's Hotel Chacalott Group for more than six hundred and sixty million dollars. That price tag represents one hundred and seventy percent premium to Hotel Chachalot's closing price yesterday. All right, Nathan, thanks, it's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris. Amy, Good morning, Good morning, Karen. US. Capitol police officers say one person was arrested following protests outside Democratic National Convention headquarters in Washington, DC as part of a pro Palestinian rally. Protesters got into a shoving match with Capitol police officers that arrest being made for assault. Six Capital officers also suffered minor injuries. Pepper spray was used on protesters and DNC members were evacuated. Billionaire Elon Musk endorsed an anti Semitic post on x the social media site that he owns, that attacked members of the Jewish community for pushing dialectical hatred against white people. Musk said in his reply to the post, quote you have said the actual truth. Musk has repeatedly been criticized for promoting content attacking Jewish people at a time of rising anti semitism. After a year of strikes in Hollywood and the auto industry, now it's Starbucks turn. The union representing thousands of Starbucks workers is staging a one day walk out today, coinciding with the Red Cup Day. It's one of the coffee chain's busiest days of the year. Daisy feederspiel Bayer is a supervisor in Seattle. I really wish that I could be in there serving you coffee. I do, but with the drastic understaffing and the toll that that takes on our barista's Unfortunately, we have to push for better and we aren't getting that from Starbucks right now. Starbucks Workers United represents nine thousand employees at three hundred and sixty stores. They want better wages, benefits, and the right to bargain. The Thanksgiving travel rush is about to begin. Bloomberg's Nancy Lions with the latest The Transportation Security Administration says the official travel window lasts twelve days, beginning Friday and running through to the Tuesday after Thanksgiving. During that time, the TSA expects to screen twenty eight million passengers. John Bush is Federal Security Director for the TSA. The best tip we can offer is to ask everyone to arrive early for your flights. The recommendation is always two hours before domestic flight three hours before an international flight, and that's going to be even more important this coming holiday weekend. Bush says they do have the staffing and the technology in place to ensure that everything runs smoothly. In Washington. Nancy lyons Bloomberg Radio Global news twenty four hours a day and whenever you want it with Blueberg News Now, I maybe Morrison, this is Bloomberg Karen Amy. Thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour. John Daren should be a good Thursday night game to kick off Week eleven in the NFL. It's an AFC North battle between the Bengals and Ravens in Baltimore. Both teams at four game winning streaks come to an end this past Sunday, losing right at the end of their game. Cincinnati beaten by Houston, and the Ravens blew a two touchdown lead and lost to Cleveland. The Baltimore quarterback is Lamar Jackson. Every game is a musk win for us, you know, not just cousin is in a division game, but we we definitely, I believe our team is definitely a lot hungrier just for more happened Sunday in a division loss in the closed game. We definitely hungry as well. So the Clinton Browns had that big win in Baltimore, led by their quarterback Deshaun Watson. He was fourteen to fourteen of the second half. He battled an ankle injury, and yesterday it was learned that his season is over because of a fractured shoulder. He needs surgery. He's had shoulder problems before. Justin Fields has been out three games with the thumb injury in Chicago. He's expected to return on Sunday NBA in Philadelphia, Battle in the East and the Celtics beat the Sixers one seventeen to one oh seven. Facing Tatum led the way twenty nine points, eight rebound, six assists. The Celtics are nine and two. The Sixers were eight and one. They've now lost their last two. Milwaukee beat Toronto for the new Buck Damian Lillard thirty seven points thirteen assists. The Wizard struggles continue a home loss to Dallas one thirty to one seventeen. The MAVs are nine and three. The Wizards are two and none. The Knicks but one by two in Atlanta. John stash That were Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We've made some important progress. We heard those words from President Biden after his first meeting in more than a year with the leader of the People's Republic of China, Shi Jinping. President says two leaders are restoring military to military communications and they plan to keep talking at the highest levels in the United States, will continue to compete vigorously at the PRC, but will manage that competition responsibly so doesn't veer into conflict for accidental conflict. That was President Biden after his more than four hours sit down with China's leader on the sidelines of the APEX summit in San Francisco, and joining us with more from Singapore is Berg News Managing editor Derek Wallbank. Derek, it's good to have you back with us this morning. Going into these talks, the White House said just talking would be a deliverable. What kind of deliverables can we say We're gleaned from this gathering between Presidents s Biden and shape Well, Nathan, they certainly talked. You know. Yeah. It's funny because in that relationship here, we've seen ebbs and flows between real, real static, real problems, and and times when it has seemed maybe a little bit sunnier, maybe a little bit more placid. I borrow an observation that Singapore's Foreign minister made last week at the Bloomberg New Economy Forum here in Singapore, which was that you shouldn't on US China relations confuse weather with climate. Things might look a little bit more peaceful right now, certainly in the face of this meeting that seemed to go mostly okay, But the for all climate of the US China relationship is still one with a lot of tension points. There were not major fundamental issues resolved here. This is not like we have a giant breakthrough on Taiwan, for example. So so whether a little bit nicer climate overall still very much progressing in the in the in the ways that it was sticking with the weather analogy, I guess maybe one dark cloud in that otherwise sunny gathering could be that question that the President received from a reporter when asked whether he still considers China's leader a dictator, and he basically said yes, he did, he said, he said emphatically yes. And and look, this is one of those things where China does take offense to this. You know, they don't like the term, they don't like it being used about them. But at the same point, the thing I think that bears watching is whether or not China blow it up into a whole big thing and says, right, well, this is some offense and we want to change the tenor of our leader to leader engagement or the relationship more broadly, it doesn't initially seem like that is happening. Remember Joe Biden said this before, and we're still on a path where they've gone to me, she went to the United States. That's actually something that's a big symbol for this meeting. So I'm not sure that that's necessarily going to derail everything here. Where I think it's much more likely if you were looking for risk problems is to look in the South China Sea, specifically off the coast of the Philippines, and some of the territorial disputes that are there, some of the trade disputes that are there. Those are places that I think are potential fracture points. But look, if you're sitting there saying are things a little bit better in the relationship between China and the US than they were this time yesterday, the answer is yes, they are a little bit better. You're going to see maybe some small tangible things including possibly, let me say, you might see some pandace come back to the US. We did hear that mentioned right by the leader of China. But when it comes to those small steps in our last minute here, Derek, what are some of the broader issues that could still lead to some of these overarching tensions that we do continue to see between the US and China. Well, I think, you know, on the good side, you've seen that the US and China are trying to do a little bit more on reducing fentanyl. On the good side, you are seeing Biden said they're agreeing to talk a little bit more military to military, and Biden said that they had an open line between the two of them. If one calls the other, they'll pick up the phone. But I do think on that broad thing, that the broad issue of trade, the broad issue of of China's state craft and military ambitions, those are real fracture points, and those are as I say, structural climactic fracture points, and that's going to be something that these two countries are going to have to very carefully manage going forward to make sure that they don't actually escalate. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Israeli Troops Enter Gaza's Main Hospital; Biden, Xi Hold Key Meeting; Government Shutdown Risk Eases

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 15, 2023 26:45 Transcription Available


On today's podcast: 1) Israeli troops entered Gaza's Shifa hospital compound as part of a “precise and targeted operation” against Hamas that runs the risk of intensifying international ire if it causes more civilian casualties.  2) President Joe Biden and Chinese counterpart Xi Jinping's carefully choreographed, much-anticipated sitdown on the sidelines of the Asia-Pacific Economic Cooperation summit kicks off Wednesday at the Filoli estate south of San Francisco. 3) House lawmakers overcame partisan animosity Tuesday to pass a temporary government funding bill that greatly lowers the risk of a shutdown even as it delays fights over Ukraine aid, border policies and deep cuts to federal programs. Full Transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin in the Middle East, where Israel is now carrying out a raid on Gaza's main hospital, Alshifa. The Israeli military calls it a targeted and precise operation against Hamas, but it could add to growing concerns among allies about civilian casualties. Sources tell Bloomberg News the White House is getting more frustrated with Israel's handling of the war and ignoring what the Biden administration calls difficult conversations. But Israeli government spokesman Alon Levy says he is still confident of US support. Israel and the United States a completely in lockstep on the goals of this operation, which is that Hamas must be defeated. President Biden has been very clear from day one. We have been very grateful to him for his moral, material and diplomatic leadership in saying that Israel has every right and every duty to go after Hamas and destroy that terror group and eliminate that threat. That is the only way we can make sure another October seventh massacre doesn't happen. Alon Levy tells Bloomberg Radio Israeli troops are delivering medical aids of the hospital. He says this operation won't be the end of Israel's war with Hamas well. Nathan al Shifa Hospital has now been without power and water for days. Manir al Bersh is from the Hamas run health ministry, and he says newborns are being moved to improve their chances because of shortage of electricity. They have gathered them all and put them on those bids together so that they can have some more tem bricher. You know, the winter is getting inside now Gazza. Without having a proper temperature for them. They immediately die. The UN says only one hospital in northern Gaza is still operational at a minimum level. Back here in the US, Karen, we're following another major story this morning. The threat of a government shutdown is easing. The House has passed a temporary funding bill, and we get the latest from Bloomberg's Amy Morris in Washington. It is a two part measure that would fund some parts of the government through January nineteenth and others through February second, which sets up the possibility of another shut down deadline on Groundhog Day. Democrats bailed out the Republican House Speaker Mike Johnson, whose plan drew opposition from hardliners in his own party because it doesn't cut government spending nor change border policies, and it also doesn't include aid for Ukraine nor Israel. But Senate Democrats are expected to back it anyway. They'll need the cooperation of all senators to meet the Friday night deadline when federal funding lapses. Shington I ma Any Moore is Bloomberg Radio right to me. Thank you well. We are just hours away from the highly anticipated meeting between President Biden and Chinese leader Shi zhen Ping. Their schedule to meet on the sidelines of the Asia Pacific Economic Cooperation Summit in San Francisco. Bloomberg said, Baxter has a preview. It will be the first meeting in a year. She was greeted here by Treasury Secretary Janet Yellen and Governor Gavin Newsom. Students line in the streets waving Chinese flags, and President Biden says communication here is key. We're not trying to decouple from China, but we're What we're trying to do is change the relationship for the better. Biden did say President she needs to ease the criteria for US companies to invest in China and not require those companies to turn over trade secrets. In San Francisco, I'm at Baxter, Bloomberg Radio, thank you. Ed. Turning to the economy, a day after investors shared news that inflation broadly slowed in October, we get two more key readings today, Producer prices and detail sales. Let's get a preview of that from Bloomberg's Michael McKee. Sales are forecasts to have fallen in October, led by gasoline autos and the ongoing drop in inflation. Retail sales are calculated in terms of dollar value, so falling gasoline prices and lower goods inflation should have a major impact. Take those out, and sales are forecasts to be up to tenths, much less than the six tenths gain in September. Analysts will also be watching for an expected slowing in producer prices. They don't feed directly into consumer indexes, but offer a rough guide to the future path of inflation. Michael McKee, Bloomberg Radio, all right, Mike, thank you. About traders are betting the Fed's hiking cycle is over following yesterday's cool inflation print, But a couple of Wall Street titans are throwing caution. We spoke with Citadel founder Ken Griffin. The FED needs to stay on message that they're going to put the inflation genie back in the bottle, and so they if they cut too soon, I think they risk losing credibility around on their commitment to a two percent inflation target. Ken Griffin's caution was echoed by JP Morgan Chase CEO Jamie Diamond. I think they do. They're doing the right thing to pause for now. You know they've raised rates a lot, you know, to wait to see the effect on the economy in the US, particularly as the fiscal spending, the excess fiscal spending is winding down and quantit tight and tiny is kicking in. But I still think you should prepare they might have to do a little bit more, and I think people should be prepared for that just as a kind of a risk management tool. And I'm afraid inflation may not go away that quickly. JP Morgan. Chase CEO Jamie Diamond has said previously he's advising clients to be prepared for interest rates as high as seven percent. Inflation's also in focus in Europe, Karen. In fact, inflation in the UK stumbled to its lowest level in two years. Consumer prices rose four point six percent from a year earlier in October, down sharply from six point seven in September. Slow downs prompting investors to firm up bets at the Bank of England will be able to cut rates as early as this of next year. Well we turned to earnings now, Nathan and profit at ten cent beat estimates. Analysts say it's another sign that Chinese consumers remain willing to spend on games and entertainment during a nationwide downturn here in the US. Arnas continue at Target, TJX, and Cisco all set to report, and time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Morris, Amy, Good morning, Good morning, Karen. Tens of thousands of people from across the country gathered on the National Mall in Washington, d C. In support of Israel. Organizers encouraged everyone to speak out against anti Semitism in America today. You can't remain silent. You know, that was a mistake who's made during the Holocaust, during the Second World War, they knew what was going on, but they felt, you know, they were too timid to speak off. Speaking remotely from Jerusalem, Israeli President Isaac Herzog thanked the demonstrators for gathering and supported marching for quote good over evil. Israel's assertion that a Hamas command center is under a key Gaza medical complex is being confirmed by the US. Bloomberg's Nanzy Lions has the latest. A Biden administration says it does have intelligence that confirms Iran backed militant groups are using hospitals, including the Al Shifa facility in Gaza to conceal and support their military operations. This is National Security Council spokesman John Kirby. Members operate a command and control node from Al shifa He and Gaza City. They have stored weapons there and they're prepared to respond to an Israeli military operation against that facility. Kirby says the US does not support striking the hospital from the air or seeing a firefight among helpless sick people. In Washington, Nancy lyons Bloomberg Radio Morning continues in Ohio following yesterday's fiery multi vehicle crash that killed six people outside of Columbus, including three high school teenagers. Tusky Valley School Superintendent doctor Derrek Vinarski spoke at a vigil last night at the school's outdoor stadium. There are no words for the sheer magnitude of loss and grief felt by all of US officials say. A semi slammed into a charter bus that was carrying the high school marching band on I seventy A teacher and two parent chaperones were also killed in a vehicle that was following the bus. The massive fire that burned a section of the ten Freeway near downtown LA may have started in a homeless encampment. A Stella Lopez is CEO of the Downtown Industrial Business Improvement District. Homeless people when it gets chilly at night, they start fires. When they need to cook, they start fires. This was a disaster waiting to happen. Officials confirmed there were sixteen homeless people living under the now damaged section of the ten freeway. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg Karen. All right, Amy, thank you. I mean do bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Find its time now for the Bloomberg Sports Update with John stash Hour John Karon. A big early season college basketball doubleheader in Chicago had started with Duke beating Michigan State seventy four to sixty five, and then top rank Kansas held off Kentucky eighty nine eighty four. The Jayhawks seven foot Hunter Dickinson scored twenty seven points. He at twenty one rebounds. Pensey night of the NBA, with all the games part of the in season tournament. The Warriors had to play without Steph Curry out with a soord knee, and then early in the game, less than two minutes in, there was a fight. Klay Thompson got a jacket and so was Draymond Green, who had Minnesota's Rudy Gobert and I headlocked. The Timberwolves again beat the Warriors one oh four to one oh one. Call Anthony Town scored thirty three wins. Golden State has lost four in a row, six straight win from Miami. Jimmy Butler scored thirty two in a win at Charlotte de Monte. Murray scored thirty two as Atlanta won in Detroit, Indiana can did Philadelphia just its second loss of the season. Pacers won one thirty two, one twenty six in Philly. Tyrese Haliburton thirty three points in the win Joel MB thirty nine in the loss. Rough night for the rookie victor Wembin Yamashatto's four to fifteen eight points. The Spurs lost by thirty six at Oklahoma City. Bruins made a twelve one and two on the season of five to two win at Buffalo, the Capitol shut out Vegas three nothing. Managers of the Year the Orioles, brand In Hyde in the AL after Skipper and the O's to one hundred and one victories Miami Skip Schumacher won NL honors got the Marlins into the postseason. They'll name the cy Young winners today. The Yankees Garrett Cole expected to win in the American League. John Staneshawer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, d C. Vationwide on Syrias Exam the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We want to get you the latest now on the war in the Middle East and the news that Israel's forces are now inside the Alshifa Hospital complex in Gaza City. Facility that it accuses hamasav using as a government center. Alon Levy, Israeli government spokesman, spoke with Bloomberg Radio about the situation on the ground in Gaza and ongoing negotiations to release hostages in the territory. Israeli society is, of course worried sick for the fate of the two hundred and forty hostages have been in Gaza for forty days now since the October seventh massacre. There are children in there, there there are babies, babies. They haven't been given access to the Red Cross. I'm afraid I can't comment on negotiations for their release. You'll understand these are sensitive issues. Human lives are at stake, and when we have information, we will of course update. If the Alshafa Hospital complex is a main one of the main Hamas bases in northern Gaza, once that operation is over, does that mean that the military, the Israeli military has accomplished its main aim in Gaza. In your view, our main aim in Gaza is to destroy the totality of Hamas's terrorists and governing infrastructure. How significant would it be though, if the base that you claim is under the hospital at the hospital in the hospital. How significant would it be if that were something that was dealt with, How big, how significant would it be in terms of the operation. The Sufa Terra compound is of course a very important target. It would be a very serious blow to Hamas. But we should be under no illusions that if that is overrun, and of course we show all that evidence to the international media that the operation will be over because we cannot allow Hamas to regroup, rebuild and remetastasize across the Gaza strip in order to pose a threat to our people. The objective of this war, in response to the October set massacre when Hammas declared war on us, is to destroy Hamas completely so that it can never again pose a threat to our people. Chief of Terror compound is of course very important, but it's not the end, and we know that the days ahead are going to be long and they're going to be difficult. Are you concerned about support from the United States for the military operation fading. We've been reporting about disquiet within the Biden administration with how Israel is conducting this military operation. Not in the least, Israel and the United States are completely in lockstep on the goals of this operation, which is that Hamas must be defeated. President Biden has been very clear from day one. We have been very grateful to him for his moral, material and diplomatic leadership in saying that Israel has every right and every duty to go after Hamas and destroy that terror group and eliminate that threat. That is the only way we can make sure another October seventh massacre doesn't happen by eliminating the terror group that is threatening to do it again. The United States knows that, not only the United States, so do other Arab governments. The United States has been speaking with. We understand they have their own domestic pressures that mean they can't speak openly on the issue, but they understand that the Iranian proxy terrorist group in the Gaza Strip must not be allowed to maintain its territorial control. And that was Israeli government spokesman Alon Levy speaking with Bloomberg's Caroline Hepger and Stephen Carroll for more. We're joined now by Rosalind Mathieson, Bloomberg News Director for Europe, the Middle East and Africa. Roz, good morning. As we watch these developments unfold in the Al Shifa Hospital, we heard those reassurances from the Israeli government spokesman, but the fact does remain that we are hearing as well a lot more frustration, not just from the US but from the international community at large over what is happening in the Gaza strip. Well, that's right. We heard of course from the IDF spokesman a short time ago, and they are confirming this operation which is in the vicinity of the Shifa Hospital. They're saying they're now in the grounds. It's very difficult to know exactly what's going on there though, because there's a communications blackouts that we're getting very little information back out this way about that operation. We do know that Israel said that we're bringing in medical crews and Arabic speakers with them. It's very very delicate, of course, because this hospital has become the focal point on either side. We know that Israel says Hamas has got tunnels under this tunnel. They're using it, they say, as a staging point for attacks, but also it's a center of civilian of civilians who've clustered there in recent weeks into the compound. We know that they've run very low on things like fuel and medicine and so on. So you've got sort of these competing goals going on in a very very delicate environment, and we are getting those global expressions of concern as a result. Is like, when you've got so many civilians and close proximity to a major military operation, how can that be carried out in a way that minimizes the risk of civilians as a result, and it brings into even larger focus as well, this idea from Israel that hamas as strategy is to use civilians as human shields as it continues to carry out this war against Israel. But does this feel though like a sort of a turning point in this war now to have Israeli forces now inside a hospital facility in Gaza. Well, the interesting thing also is that Israel is saying that this doesn't necessarily mean that their operation in Gaza would be finished. They've said their goal is to eradicate Hamas entirely, to ensure that Hamas could never again carry out an attack to the extent that they did on October seven inside Israel. So that's a lot more than just going into this hospital. We are talking potentially weeks and months of fighting inside Gaza, door to door, street to street again, bringing military forces and militants into proximity with civilians who are still in the north of Gaza. It could be a turning point again perhaps in the narrative around Israel on this. You're mentioning the heightened sense of global concern, the comments we're seen not just from aid agencies in the UN, for example, but also from the US, from Europe, from countries in Africa and the region, saying we're really worried about how this could play out on the ground on this particular side. But it doesn't seem at all that this would be the end of the Israeli military operation. There's still a long way from what they're saying that they have to go. And to that point, we're still seeing, even with these public expressions of concern from President Biden, that the Pentagon is continuing to draw down weapons and send them to Israel. What is the balance that the US is trying to strike when it comes to continuing to give this type of support to Israel while expressing concern about the risk of civilian casualties. Well, that's right, so very tricky balancing for the US because they're a strong ally of Israel. They provided Israel for a long time with military assistance, including for the Iron Dome missile shield over Israel, and they've said that they want to continue to support that because that's protecting israelis from attacks coming from Hamas and others Hasbala aerial attacks and that's important and they've said they'll continue that. But beyond that, you have the question of if you're supporting Israel militarily with things like artillery and ammunition, how is that being used? A guess whom might that be used in such a delicate conflict on the ground inside Gaza, And so the US needs to tread very carefully there. And again you're seeing that balancing act just sort of like yes, public support still for Israel. Behind the scenes, we know that they are calling on Israel and urging Israel to proceed very carefully inside Gaza in that growing sense of frustration about how it seems to be proceeding. And then the third concern for the US is also does this conflict still somehow expand and during the US directly militarily in the region. And we know the US has sent a lot more of its military assets into the area. We're talking warships and so on, and actually troops being stationed in the region, so that's going to be a high concern for the US. Also absolutely thanks for this, Roskad to have you with us. Rosalind Mathis and Bloomberg News Director for Europe, the Middle East and Africa, Karen Well Nathan. We want to turn now to our interview with Jamie Diamond, the head of JP Morgan, spoke with our Bloomberg affiliate in Mexico discussing the latest inflation numbers, a potential rating downgrade for the US, and the headwinds that the US economy faces. Let's go to part of that discussion. I think the number is good today. Personally, I think people are overreacting to short term numbers and they should stop doing that because you look at all the adjustments going to them, they're not completely valid. I think inflation is probably a little stickier than that shows. I think they do. They're doing the right thing to pause for now. You know they've raised rates a lot, you know, to wait to see the effect on the economy in the US, particularly as the fiscal spending, the excess physical spending is winding down and quantit tight and tiny is kicking in but I still think you should prepare. They might have to do a little bit more, and I think people should be prepared for that, just as a kind of a risk management tool. And I'm afraid inflation may not go away that quickly. And well. Also, three months ago, Fatur Rating downgraded US credit rating, and this weekend we saw Moodies changing its outlook on the US created rating to Native, pointing to our sharp rise in depth, servicing costs and political polarization. What do you expect in this terms? Yeah, look, I find a little ironic that fiction Moody's been doing that today. So here's what I think they are right to point out those issues. I would take polarization off. That's always been true in democracy. But yes, we have far more debt and more debt financing. We've been a little profitate when it comes to that. But the market is pricing US as triple A, which I think is more right, and the market will be more right than the rating agencies. I also want to point out I find this almost funny. They have a lot of country's rate of triple A. They all live under the protection of the American military, and so I think it's a little peculiar that that makes them triple A, but not America. So America will be fine, but we got to get our hands around these problems. They will not age well. The death it's a lot bigger this year than we thought. There may be consequences of that, and so I do I think the right to point it out and talking about your bank, Jamie, how would you sum up these year twenty twenty three, given that it was such a tough time for the brother industry. I don't look at any one year like it's a mystical thing, you know. I always tell people that profits are like the tip of an iceberg is bobbing in the ocean. You know, the real quality of your companies, your people, your systems, your technology, your products, your services. So we had a good year financially, you know. I know that some banks has some problems. We've been quite clear over earning. But to me, the important thing is that we're going to serve our clients through thicker thin We got plenty of capital, plan liquidity. We're not going to panic no matter what happens the environment out there. We're going to be in Mexico serving your clients, your country, or the way we should be. And you know, I think if rates and I'm hoping that the first Republicans we bought was probably the last domino. But I've always said, provided race don't go up, but we don't have a recession, and I do think banks being prepared for that, that's just a reasonable thoughtful risk management tool. Be prepared for things you don't expect, so you can continue to build your company. How to prepare for the things that you don't expect. The way we do it is we model out how are we to do in two percent ing of rates and seven percent interest rates, how we do with credit losses going up? Stress testing markets around the world. So we do like literally one hundred stress tests a week, and so always looking at that so we can manage through that and then under all those circumstances, we're fine. Find means to me that you don't have to announce massive layoffs and you don't have to like pull out of a country, that you continue to meet the commitments you have to the people in the country and the countries themselves. You know, people don't like bangs who are fair weather friends, and so you know we're going to be there for people all the time, and you know, we've always been careful how we run the bank. There is really a future for fintech startups or will they be outlasted or innovated by banks. Yeah, I think it's the wrong way to look at the question like it's a binary answer. You know, there will be some who will not survive. There will be some who are very smart and they have a great niche idea. There will be some who are more than that, you know, So JP Morgan, we look at all the fintech, we also look at the big tech. You know, we have competition effectively from Apple, Google, Facebook, and so there will always be survivors. And our job is to make sure we're lean, we're mean, we're thinking we're competitive, we're not. It's always better assuming that some of these people be successful than to assume that they won't be successful. And you know, I've pointed out their own meagement teams that there's some great companies out there that we could have built and we didn't like Square and Stripe, and so you know, you've got to be open minded and a little humble about what's going to take place. Saw alone is not going to make you succeed in the future. If you don't believe me, read about the history of all large corporations. Also, I would like you to ask about Mexican economy, which are your perspectives with high interest rates, high inflation, but with the opportunity of nearshuring. Again, I think it's a great opportunity. And you know, a lot of Latin America countries raise their industrates rapidly quickly, and they probably did the right thing for the long run of the economy. You're very low unemployment. You know, inflation is coming down, so hopefully you'll conquer that. I think countries should always look at and I really mean this, like I do with a company, what should they be growing? And you know, I think we've undergrown in America, you know, quite a bit over the last year, and I think Mexico should aspire to do much more. And just like so, that's how I look at it, and to do more all these countries, all of us. You know, it's about policy and you've already mentioned infrastructure, but it's about work skills, effective regulation, transparency, corporate governance, uh, you know, rapid permitting. It's all those things. You know, it's consistency of law that have a country grow and the important part of having a country grow it helps all of the citizens. There's more taxes, you have more a wherewithal you know, it's not just for big companies. You want to grow an economy, you really want it for everybody. Every job created, you know, every job created is a job for someone, and so you know people we need We only be very thoughtful. I can grow economies help and we should do it to benefit all the citizen of our country. You know, not just the you know, the wealthier and the employee, but everybody. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to oho in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six' one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Seriusxmbiheartradio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Biden Urges Israeli Restraint; Biden-Xi Fentanyl Crackdown; Government Shutdown is Near

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 14, 2023 17:23 Transcription Available


On today's podcast: 1) Israel and Hamas trade accusations over Gaza hospitals and President Joe Biden called on Israel to take “less intrusive action” at the al Shifa hospital — the latest sign the US wants fewer civilian casualties. Israel says Hamas uses hospitals as bases for its operations. 2) Joe Biden and his Chinese counterpart, Xi Jinping, are set to announce an agreement that would see Beijing crack down on the manufacture and export of fentanyl, according to people familiar with the matter, potentially delivering the US president a major victory. 3) House Speaker Mike Johnson is counting on Democrats to overcome misgivings and approve his proposal to avert a US government shutdown. 4) Denver Broncos beat the Buffalo Bills on Monday night football Full transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Let's get you caught up on what's happening in the Middle East. The focus is turning to hospitals in Gaza, where Israel accuses Hamas of housing command centers and weapons. President Biden says the Alshifa Hospital in Gaza City must be protected. I have not been reluctant and especially my concerns going on and is my hope and expectation that there will be less intrusive action role through hospital. President Biden's concern about civilian casualties is being answered by Israel's Economy Minister Near Barkat, do you understand that we have to wipe isis Comeaus off the map and we will do it with minimal collateral damage. This is our values. We don't need to be told that we know that ourselves Israelly Economy Minister Near Barcott spoke on Bloomberg Business Week. You can hear more of his comments on the BusinessWeek podcast. Download it wherever you get your podcasts. Well, Nathan. As the war goes on, tens of thousands of Israel supporters are gathering in Washington, d C. To show their solidarity. On Bloomberg's Amy Moore, supports from the nation's capital. Organizers are expecting up to one hundred thousand people to attend today's event on the National Mall Capitol Hill. Security will be boosted, access to the capital will be restricted. Roads are being closed. DC police have requested assistance from the National Guard and the Department and If Homeland Security has designated the march a Level one security event that's the highest rating of risk assessment. The FBI says there's no specific threat, but there is fear of loan actors attacking pro Israel demonstrators coming to DC. The event begins at one this afternoon on the National Mall in Washington. I maye more is Bloomberg Radio, Oka, Amie, thank you staying in Washington. This could be a critical twenty four hours in Congress's attempt to keep the government funded. Bloomberg Zed. Baxter has the story. House Speaker Mike Johnson says he'll bring the bill to the House floor in spite of negative reaction from the right wing of his party, who wanted spending cuts included. Senate Majority Leader Chuck Schumer has opened the door to a settlement for now. I am pleased that Speaker Johnson seems to be moving in our direction by advancing a cr that does not include the highly partisan cuts the Democrats have warned against. And President Biden also has often saying he'll wait to see The deadline is Friday midnight, add Baxter, Bloomberg Radio. All right, and thank you well. We turned to the economy now, and we get the first of two big readings on inflation this morning. With the consumer price index for October. Economists say inflation probably ease to an annual rate of three point three percent, and we get a preview from Bloomberg's crety GUPDA. There are some varied estimates here, but I think the takeaway is simply that some of the disinflation, the progress essentially that has been happening in the US economy when it comes to inflation, is going to slow down. So it's not that it's going to increase, but it's also not going to be making as much downward progress as we expect, at least has to take out of Bloomberg Economics, and I think that's the concern here for a lot of the people who are pricing in a more dubvish Federal Reserve, which is simply that this is going to be the key data point that suggests the Federal Reserve is not done hiking at all. You heard Chairman Powell last week hint at that and kind of say, well, we're going to be as hawkish as we need to be. This is the data point that might back that up. And Bloomberg's CRETTY group disays today's inflation data is not likely to shift traders views on the fits December meeting, days after the US was threatened with the loss of its last top credit rating from Moody's the Treasury Secretary is firing back. Janet Yellen spoke in San Francisco yesterday. This is a decision that I disagree with. The American economy is fundamentally strong, and Treasury securities remain the world's pre eminent safe and liquid ASCID Secretary Yellen's in San Francisco for meetings with finance ministers from across the Pacific, Rim Nathan. The big meeting from the Asia Pacific Economic Cooperation Summit comes tomorrow, when President Biden speaks with this Chinese counterpart, seson Ping. Bloomberg News has learned the two leaders will announce an agreement that could see Beijing crackdown on the manufacturer and export of fentanyl. We spoke about the opioid crisis with San Francisco Mayor London. Breed resources that are being sent out of China that come into either the US or Mexico are cut off to the fullest extent possible. That we work together in order to ensure that this deadly poison that is killing people in San Francisco in significant numbers and all over the country, that we're able to combat this to stop it. San Francisco Mayor London Breed says fentanyl has devastated her city like no other drug in her lifetime. Let's turn to some corporate news now, Karen, we have a takeover in the commodities industry. Switzerland's Glencore has agreed to buy a majority stake in Canada's tech resources coal business for more than six point nine billion dollars. The d ns a month's long saga and sets the stage for glen Core to spin off its own coal unit. Well, Nathan, a big week for retail earnings kicks off with Home Depot. We're reporting this morning, and we get a preview with the Bloomberg's Tom Busby. Home Depot forecast report a fourth straight quarterly decline at same store sales as the one to two punch of surging mortgage rates and record high home prices caused a slump in US home sales, putting it in to the home improvement boom we saw during the pandemic. Bloomberg consensus calls for comp sales to fall three point three one percent, of the decline in the US three point six seven percent. Still, net sales expected to be thirty seven point seven billion dollars, So just at earnings per share of three dollars seventy six cents. Tom busby Bloomberg Radio, All right, Tom, thanks back to commodities. The International Energy Agency says global oil markets won't be as tight as expected this quarter. IEA says sea supply tipping back into a surplus in the first half of twenty twenty four. Sorry, Nathan. Thanks. It's time now for a look at some of the o their stories making news around the world, and for that we're joined again by Bloombery sa Amy Morris Samy, Good morning, Good morning, Karen. There is growing concern about a possible government shutdown later this week, but that could also spell chaos for millions of Americans planning to travel during the holiday season. Without a deal in Congress by this Friday night, air traffic controllers and TSA workers could be forced to work without pay. And this is expected to be a record travel season. David Cymour, as chief operating officer with American Airlines, We're going to carry more customer than we ever have before, about a half a million more than last year. And House Speaker Mike Johnson has submitted a stopgap measure, but that doesn't include any money for Israel. Or Ukraine, and it doesn't have spending cuts that a lot of Republicans want. The US Supreme Court has adopted a new code of conduct, the first in the Court's history. Loyola Law School professor and former federal prosecutor Laurie Levinson says the adoption of the code itself is significant. There has been a great deal a criticism of the Supreme Court. Much of it has been focused on Justice Thomas and Justice Alito because they received gifts, they haven't made full disclosure of travel and other types of benefits, and so now we have a clear standard. But critics call the code itself toothless because it doesn't include a mechanism for enforcement. A former attorney for Donald Trump has testified against the former president and the Georgia election interference case. Jenna Ellis recounted a conversation with Dan Scavino, who served as Trump's deputy chief of staff. Video recording of that testimony was obtained by The Washington Post. He said, well, the Boss, meaning President Trump, and everyone understood the Boss, That's what we all called him. He said, the Boss is not going to leave under any circumstances. We are just going to stay in power. Trump's lead counsel in the Fulton County case says Ellis's testimony is absolutely meaningless. Ellis is one of four co defendants to plead guilty in that case out of eighteen people, and died it Alongside Donald Trump, the president of the United Auto Workers Union is headlining a hearing on Capitol Hill to talk about the resurgence of unions. UAW president Sean Faine, along with Teamster's president Sean O'Brien and Flight Attendance Union president Sarah Nelson, will provide testimony before the Senate Labor Committee on the role of unions in the lives of working families. Global news twenty four hours a day and whenever you want it with Bloomberg News Now, I may Mee Morris in this is Bloomberg Karen sor right, Amy, thank you, Alby do bring you news throughout the day right here on Bloomberg Radio. But as Amy said, you can get the latest news now on demand when you wanted. Subscribe to Bloomberg News Now to get the latest headlines it the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update with John stash Hour John Karen. On Sunday, four NFL games were one on a field goal on the final flight, and happened again last night in Buffalo. Denver's Will loves kick the thirty six yard field goal the Broncos upset the Bills twenty four to twenty two. Lutz had missed a forty one yarder, but the Bills got called for twelve men on the field and he got a second chance to win the game for Denver, who has suddenly won three games in a row after starting the season one and five. It's been a disappointing year for the Bills, four time defending AFC East champions, and they are right now just five and five. The Celtics are eight and two. They're five and zero at home. They beat the Knicks thirteen to ninety eight. Jason Tatum led the way with thirty five points. Jalen Brown had twenty two. Christophs Pazinga scored twenty one. The Wizards are just two and eight. Kyle Kuzma keeps scoring points. He had thirty four, but Prosco Siaka went for thirty nine in Toronto and the Raptors won one to eleven to one oh seven unanimous winners for the Baseball Rookies of the Year, the first of the postseason awards to go out as expected. Arizona outfielder Corbin Carroll got every vote in the National League after season where he hit twenty five home runs and sole fifty four bases, and Baltimore short stoff Gunner Henderson won unanimously in the American League. He hit twenty eight home runs and scored one hundred runs. Michael Malong got his contract extension in Denver. He coached the Nuggets to the NBA championship last year. Terms not known. He's been the Nuggets coach in twenty fifteen. John Stashedward Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Sirius, Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Israel's war with Humas now appears to be centering on hospitals in Gaza, where the Palestinian militant group is accused of housing command centers and weapons. President Biden is saying the main hospital in Gaza City, Alshifa, must be protected as Israel intensifies its ground campaign. For the latest, we're joined now by Bloomberg's Oliver crook Oli. Good morning, get us up to speed on the situation in a northern Gaza, particularly around these hospitals that do now appear to be the center of attention. Yeah, so Nathan completely in the center of attention, and the ground offensive is still just raise it raging on in the northern part of Gaza, really cementing their positions around Gaza City and entering Gaza City. As we've seen, we've also heard that a great number of people have fled over the last ten days. The UN says that more than two hundred thousand people have moved south. That brings the total of almost two thirds of Gaza's a population of two point three million people that have fled their homes. The Defense Minister of Israel says that Hamas has lost control of Gaza at this stage. But really, as you say, the focus is on these hospitals and really beginning to test the limits of where the limit of self defense is, which has been really a question, I think for everybody since the beginning of this conflict, and everyone has a different answer to that. But we're starting to see that progress a little bit, particularly with the United States, which as we know, is a key ally for Israel in this battle. No, we did speak to Israel's economy minister Near Barkat on Bloomberg Radio and he seemed to echo a lot of the determination we're hearing from the Israeli government to destroy Hamas. It does make you wonder what those limits are. Lallie. I think it's a good question, and it's going to be in determined I suspect in part by what the United States says and how they say it. Right, So we're talking about a death toll. This is according to the Palestinian authorities, of more than eleven thousand people in Gaza, right, and two thirds allegedly are going our women and children. This is an absolutely huge figure of people and many of the allies of Israel. You know, you heard it from President mac Hole on Friday, who himself called for a ceasefire. And now You're starting to hear Joe Biden talk about restraint, Blincoln himself saying that too many Palestinians have been killed, Sullivan saying no firefights and hospitals, And we know that it is that sort of the US's behes that we got some of these humanitarian pauses. So really the question is where does it reach its limit? Again, So a lot of this stuff is going to be behind the closed doors, the discussions with Biden and Netanya who not taken out into the public, but you're starting to notice it in a lot of the public statements we're hearing from US officials. And as this fighting goes on and it compares to intensify, the question goes on as to how much longer this war can continue, how much more intense we could see that fighting take place, particularly around these population centers that do have very sensitive operations in Gaza City completely. And then there's the after question as well. But let's deal with the for how long question, which is you know, again, what Netanya who has said, and he said this as recently as a day or two ago, was that it will take not many years, right, So he's not ruling out the year's quantity of time. In this he says it'll take less time than the US took in defeating ISIS and al Qaeda, which again does not really narrow a very sort of slow and small window of period of time. But he's, you know, from the very beginning, giving himself a lot of flexibility in terms of how long this can go. And now the real question this we see another split potentially between the US and Israel, is what happens afterwards netnya who's suggesting that they will have indefinite control over Gaza. The security operations said, they say they don't want to rule it, but they also say they don't want to relinquish security control over Gaza. So again, these are all the sorts of points that are going to see develop And of course the big question is what is the future of Netanya? Who and whose decision will it be once there is peace about what happens with the relationship between Gaza and Palestine and Israel. And before we get even to all those questions about the future of Gaza and the future of the Israeli government, there's still this ongoing discussion about freeing hostages in Guza. What's the update there completely So the latest that we've heard from this is that Biden spoke to the Katari emir As we know, Qatar has played an absolutely fundamental role in the sort of got between Israel and of and the United States and Hamas. We hear again and again that there is potential progress on a deal, but every time we hear that, it's sort of backslides. So again, there has been more and more talked about it over the last few days, but I think you really cannot really rely on anything until it's fully secured. What we do know is that Israel has entirely ruled out a ceasefire until all the hostages have been freed, and in our last thirty seconds, the discussion we've had with Israel's economy minister, it seems like there's a determination as well to keep this fight going, even if it damages Israel's budget, even if it damages the economy. Yeah, I mean, the impact on the Israeli economy has been very sort of covid like in many respects where you know, obviously there's a war effort underway, but we've subtracted let's say, three hundred and fifty thousand people from the workforce that's about eight percent of the Israeli Workfor us is when you go down the streets, you know, many of the businesses are closed, all the universities are on pause. All of this stuff is really a standstill. But again, they see this as an existential fight, so they're gonna be willing to pay the price. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alectiona devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager, and I'm Karen Moscow join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Talks Intensify to Release Hostages in Gaza; U.S. Shutdown Deadline

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 13, 2023 17:28 Transcription Available


On today's podcast: 1) The Israeli army conducted raids in northern Gaza on the outskirts of the Shati refugee camp, while a UN agency said that a naval strike had seriously damaged one of its guesthouses. 2) The US still faces a risk of a government shutdown at the end of this week despite a new compromise plan by Speaker Mike Johnson that leaves out hardline conservative priorities like cutting spending and curtailing migration. 3) The White House cited a resumption of US-China military communications as a priority ahead of this week's meeting between Presidents Joe Biden and Xi Jinping.   Full transcript:  Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Let's get the latest developments on the war in the Middle East. The US has conducted airstrikes in eastern Syria on targets link to Iran. Those strikes come as talks intensified to secure the release of hostages in the Gaza strip As Bloomberg News Managing editor Sylvia Westall reports, President Biden discussed that issue with the leader of Katar last night. Kata's quite question important role in this. It's already helped mediate between Israel, Hamas and foreign governments to release a small number of people and the estimates for around about two hundred hostages still trapped there, and are those talks ongoing. There's been discussions between Biden and the ruler of Katar and all these countries involved, and Israel said it won't even contemplate a cease far until those hostages are released. Bloomberg Sylvia west All reports President Biden also talked about increasing the flow of humanitarian assistance into Gaza with Cautter's premiere. Well, it's really Prime Minister Benjamin Etna who was asked about whether there could be a deal to exchange captives with Hamas. There could be, but I think the less I said about it, the more I'll increase the chancels that it materializes. And it's a result of pressure, military pressure, of the extraordinary work that the idea of was doing. And Prime Minister Nanya, who was on NBC's Meet the Press, but as really President Isaac Herzog is expressing caution, there are talks of behind the scenes. I cannot confirm any details. What I can say is that there's nothing substantial right now on the table. The United States is also heavily involved in this, so there's nothing tangible that I can report. Israeli President Isaac Herzog was a guest on CBS's Face the Nation, and you can hear Face the Nation and Meet the Press every Sunday on Bloomberg Radio. Turning to politics back here at Home, Karen, there is now one less Republican candidate for president. South Carolina Senator Tim Scott has ended his campaign. Scott says he will not immediately make an endorsement in the race, and he's not looking to join a Republican ticket as a vice presidential candidate Well Nathan. The US faces a risk of a government shutdown at the end of this week. Meanwhile, House Speaker Mike Johnson is trying a new approach to funding the government. By Bloomberg's At Baxter reports, the shutdown risks still Inger. The Johnson plan would extend some government funding until January nineteenth and others until February second. It also declined to do the immedia thirty percent spending cuts demanded by the right wing of his party, so that means fewer Republican votes and reliance on Democrats to cross lines and vote for it. He says, spending addiction cannot be broken overnight. Democrats so far have been moot. Whitehouse, though has already said it would only lead to future shutdowns. Johnson says he's scheduling a vote for tomorrow at Baxter Bloomberg Radio. All right, thank you well. Former New York Fed President Bill Dudley's warning the US fiscal position is on a quote unsustainable trajectory. Dudley is also a columnist form Bloomberg Opinion. He told the conference in Sydney there's a lack of political will to resolve the crisis at a time when debt costs are soaring, Nathan. The warning from Dudley comes just two days after the US was threatened with the loss of its last top credit rating. Moody's Investors' Service signaled it was inclined to downgrade the nation because of a wider budget deficits and political polarization. Deborah Cunningham is Global Liquidity Market's Chief investment officer at Federated Hermes. The concerns being bore what's happening from a congressional perspective, and the dysfunctionality from a lawmaking standpoint is the concern rather than the actual quantitative financials. So I think from an impact as much on the economy from an impact on where rates are at this point, I think that's behind US and debort Cunningham had federated Herme, says Moody's is the only one of the three main credit companies with a top rating on the US Karen, We're watching for major geopolitical news this week. President Joe Biden and Chinese leader Shei Jinping are scheduled to meet face to face on Wednesday, as the United States hosts the annual Asia Pacific Economic Cooperation Conference for the first time since twenty eleven. White House National Security Advisor Jake Sullivan says resuming military communications is crucial when it comes to managing the relationship. Ties and communications between our two militaries are critical. The Chinese have basically severed those communication links. President Biden would like to re establish them, and he will look to this summit as an opportunity to try to advance the ball on that. National Security Advisor Jake Sullivan tel CNN. The Biden she meetings also expected to cover the Israel Hamas War, Russia's invasion of Ukraine, human rights, and artificial intelligence well NY then ahead of the Biden She meeting. We are seeing signs of improving US China relations. Sources a Beijing is weighing ending a freeze on Boeing seven thirty seven Max aircraft in China. Boeing has not made any significant sales of its best selling narrow body jets in China since at least twenty eighteen. In another development, earlier this morning, the Emirates announced it was buying Boeing aircraft valued at fifty two billion dollars. So the broader market Karen investors have another major event to look forward to tomorrow when we get the latest reading on inflation with the Consumer Price Index for October. Anda Wong is chief US economist with Bloomberg Economics. We are expecting the headline CPI to be very soft because seasonally adjusted gasoline prices actually came down over five percent in October, so a month the increase of zero point one percent on the headline CPI. Bloomberg Chief US Economist Stana Wong says, over all consumer price data are expected to show inflation easing to a year on year rate of three point three percent in October. Time. Now for look at some of the other stories making news around the world. For that. We're joined by Bloomberg Scott Carr, Scott, Good morning, Good morning, Karen. Donald Trump Junior will be back on the stands today in New York as the first defense witness in the Trump organization civil fraud trial. The Trump family organizations being accused of fraudulently inflating their wealth on paper to obtain better loans. The New York Attorney General's Office ended its arguments last Wednesday and was denied a motion to limit certain expert witnesses from testifying for the defense. One person is dead four others injured after a shooting at a flea market in Texas. Police in Perlin, Texas, say three adults and two children were shot at the popular street market yesterday afternoon. Officer Chad Rodgers says the incident started as an argument between two people, though it's unclear if they both had guns. Three adult victims and two children, so a lot of people that are very very upset, and this does not appear to be a targeted attack on the flea market. That this was a disturbance between two individuals that resulted in people being shot. So far, no arrest have been made. All five victims were taken to local hospitals. A state of emergencies been declared in Los Angeles by California Governor Gavin Newsom after fire broke out underneath a storage yard early Saturday morning, igniting highly flammable wooden palettes. Trailers and cars then jump to another storage yard, growing in size to eight acres at one point, causing the closure of LA's Highway ten in both directions. The freeway remains closed, and officials say they'll be lucky if they can get one lane open today. The traffic is going to be horrendous. It's going to really impact Los Angeles. The blaze burned through the equivalent of six football fields. The governor says the state is mobilizing resources to complete repairs and minimize the impact for travel in and around the city. Iceland is evacuating a resort town south of the capital of Reykovic how to fear the town of Grindevic may be destroyed by a volcanic eruption. The town is near an active volcanic system and was evacuated over the weekend after magma shifting beneath the ground triggered hundreds of earthquakes. Local officials say that magma was at a very shallow depth, so they were expecting an eruption at any time. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Scott Carran. This is Bloomberg all right, Scott, thank you, while we're bringing news throughout the day right here on Bloomberg Radio. But now, as Scott said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify, and anywhere else you get your podcast. Time Now for the Bloomberg Sports Update, here's John stash Hour John Karen Sunday, number ten in the NFL began for the second week in a row in Frankfurt, Germany. The Colts beat the Patriots ten to six. That drops New England to two to eight, their second three game winning streaking the season. They have the worst record in the AFC. Only Carolina has the worst record in the NFL. The Patriots have scored over seventeen points only twice in ten games. Another win for red hot Houston Texans. It was thirty to twenty seven at Cincinnati. Texans won and on a field goal on the final play. They've gone five games, which is more than they had won in any of the last three seasons. Bengals four game wins streak comes to an end. They fall the last place in the AFC North, where Cleveland won at Baltimore thirty three to thirty one. The Browns were down by fourteen with nine minutes left, scored two touchdowns in the forty three seconds span, then they won on a game winning field goal. That ends the Ravens four game winning streaking. The brown they're only a half game behind. The forty nine Ers, ended their three game losing streak. They won big at Jacksonville thirty four to three and rock Pirty through three touchdown passes. The Commanders lost in Seattle twenty nine to twenty six the Seahawks one on a field goal final play. Last night, the Raiders beat the Jets sixteen to twelve. Third s three loss for the Warriors, beaten home by Minnesota won sixteen to won ten. Philadelphia won it over Indiana's Tyrese Maxi scored fifty points. Dedicated the win to Kelly Oubre of the Sixers, who's going to be out significant time after injury suffered in a car accident Saturday night. Texas A and M and a surprise fired football coach jimbo Fisher. They'll owe him seventy five million in a buyout. John Stashewer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on SYRIASXAM, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg day Break. Good morning. I'm Nathan Hager. Now to the latest from the Middle East. The US continues to strike targets in eastern Syria that are linked to Iran, as Israel intensifies its ground campaign against Hamas in northern Gaza. All this as talks continue on the international level to try to release Hamas hostages from more. We're joined by Bloomberg Israel Economy and Government reporter Galite Alstein in Tel Aviv. Ghalite, Good morning. What's the latest we can say now about the ground assault? Of course, there's been a lot of focus in recent days on the Alshifa hospital that Israel says is hiding a main military headquarters for Hamas. Right, So good morning, Nathan. So, as you mentioned, we're seeing the Israeli army pushing forward on the ground operation in Gaza. In northern Gaza, the Israeli troops have been conducting rays over the past hours at the outskirts of the Alshati that's a camp in northern Gaza. They've been targeting what they say is tourist infrastructure that they say is located in central governmental institutions in the heart of civilian population, and that involves our schools, universities, mosques and residences. At the same time, you mentioned Alshika Hospital, so we've been hearing that the last generator that Al Shifa ran out of fuel two days ago November eleventh, and yesterday Israel said that it allowed delivery of fuel three hundred liters of fuel for the first time to this hospital, and then Israel exclaimed that Hamas has prevented the hospital from collecting this fuel. So we have to wait and see on what happens with that. The hospital director has said to media that this quantity, even if it had been collected is far enough from being enough. He said, it could only be sufficient for as little as thirty minutes of operations in the hospital. So we're still waiting to see what happens on that, and also in the evacuate of babies from this hospital, which the idea I found promise to facilitate has not yet happened according to Israel, because Hamas has also been preventing that. As the ground defensive goes on, Galad, of course, we're hearing more talk about trying to secure the release of hostages in the Gaza strip. President Biden held talks last night with Katar's emir about that what role could Qatar play in this situation? Right, so, Kata is considered to be a very important player, perhaps the most significant town of player in these negos negotiations on the release of hostages. There are two hundred and thirty nine hostages that are still being held in Gaza. So, as you mentioned, President Tom Joe Biden this speak with the Katari Emir and he said that the urgent, ongoing efforts to secure additional releases are going on. What we're hearing from Israel media at the same time is a lot of caution on these talks. We've heard them. Israeli President tom Isa Kertzev express question about a possible release of hostages helped by Hamasi said last night that there is nothing substantial right now on the table, although we are using all tools possible quote unquote, that's what he said, and Israeli media have been reporting that talks are on the release of around eighty hostages, probably women, children and earlerly will be prioritized if this release does take place, with Hamas demanding a ceasefire of roughly three to five days in return for these releases, and a similar number of Palestinian prisoners to be released as well. As I said, everyone is discussing this with a lot of caution, and it's not clear whether these talks will show any results anytime soon. In the meantime, Israel is also continuing to face fire from Hesbola in the north, going from or coming from Lebanon. Is the Israeli military in our last minute here Galite at risk of getting under further strain, potentially getting stretched. Right So so this is a very important point. Yesterday there was a very clear sense of escalation on Israel's border, with Lebanon. It was the most intense day of fighting since October seventh, a lot of back and forth fire, some civilians and civilians were injured. Israeli civilians were injured in these fire exchange exchanges. So Israel has been retaliating, you know, all the time to these attacks. There's also been some attacks this morning, although at a slightly lower scale with no one with no one injured. The Tel Aviv stock exchange is down for a second straight day following these events. So this is being closely watched on all fronts. And you know, I will mention finally that Israeli Defense minister, you have Glanc's ass at a press conference on Saturday night, what would be Israel's redline on this border? And he answered the reporter who asked this, when we strike in remoot, you'll know that this red line had been crossed. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh six' one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Serious XM, the iHeartRadio app, and on Blue dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Gaza Strikes Intensify; Humanitarian Windows Open; Powell Upends Bond Market

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 10, 2023 18:15 Transcription Available


On today's podcast: 1)  Israeli struck outpatient clinics of Al-Shifa Medical complex in Gaza City, Palestine Authority radio reports. The Israeli military has said that Hamas's main military headquarters is located underground near Al-Shifa and has told the hospital to evacuate patients. 2) Federal Reserve Chair Jerome Powell said the US central bank will continue to move carefully but won't hesitate to tighten policy further if needed to contain inflation. 3) West Virginia Senator Joe Manchin announced Thursday he won't seek reelection, a blow to Democrats' prospects for keeping the Senate majority in 2025. 4) Industrial & Commercial Bank of China's US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That forced ICBC to send the required settlement details to those parties by a messenger carrying a thumb drive as the state-owned lender raced to limit the damage. 5) Chicago Bears take down the Carolina Panthers in Thursday Night Football Full transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. Karen, the latest on the Israel Hamas war. Israel says it's struck back at an organization from Syria. The target at a school in the southern city of Ailat with a drone. Meanwhile, the White House is confirmed Israel's agreed to four hour daily humanitarian pauses in northern Gaza to allow civilians to flee, but Mark Regev, who advises Israel's Prime Minister, says it's not a ceasefire. We will continue this operation until we have destroyed Harmasa's military machine. The idea of a humanitarian pause is in a specific place, for a specific time, to help the civilian population who are not the target of our operation on the country. We want to see the move out of Hamsway. That was Benjamin Natanyahu advisor Mark Regev meantime. A short time ago, Palesidine Authority Radio reported that Israel's forces struck outpatient clinics of a medical complex in Gaza City. Israel's military says the main military headquarters of Hamas are located underground near that hospital, and had they told the hospital to evacuate patients, well, Nathan, we turn now to news that still making waves in Washington. A Democrat, Joe Mansion of West Virginia, stepping away from Capitol Hill. I will not be running for re election to the United States Senate, but what I will be doing is traveling the country and speaking out to see if there is an interest in creating a movement to mobilize the middle and bring Americans together. Senator Manchin is an honorary original honorary co share of No Labels, the centrist group that's now working on a possible third party presidential campaign. Bloomberg's Wendy Benjamin Sin has more from Washington. If he does go for an independent or third party run, that's going to make it very, very difficult, because the people who feel that Biden may have gone too far to the left, or is too old, or all the other things are looking at this guy a true old soele conservative Democrat. Bloomberg's Wendy Benjamin Sin notes mansion still has eleven point three million dollars in a Senate reelection campaign that he could use in a presidential run. Well, politics has Washington's focus. Karen Summer, President Biden's cabinet have headed West Finance. Leaders of the US and China have begun talks setting the groundwork for the Biden she meeting next week at the Asia Pacific Economic Cooperation Summit. Bloomberg's Ed Baxter has the story from San Francisco. Treasury Secretary Janet Yellen meets again today here in San Francisco with Chinese Vice Premier Hu LaFong. She is saying the US has no design to break economic ties with China, but these two day meetings are aimed at making progress on a slew of economic issues before the heads of state sit down. China's main concerns in the supply chains in high tech, the US focusing on fair competition in tech, as well as freedoms and the issue of Taiwan. In San Francisco, I'm at Baxter Bloomberg Radio. All right, ed, thanks, So we turned to the markets now, and stocks are coming off their first drop in eight sessions. That declines came after FED Chair J Powell warrant interest rates may have to climb further. If it becomes appropriate to tighten policy further, we will not hesitate to do so. We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data and the risk of overtightening. On the same day Powell spoke, Richmond FED President Thomas Barkin said the US economy still has not felt the full effect of past interest rate increases. I think there's more lag to come from hikes. I'm not sure that you know that's everybody's view, but that's that's certainly my view. I also believe that there's inflation is going to take longer to settle than the more optimistic forecast that you might see. And the economy is also in focus in Europe. The UK economy flatlined in the third quarter, defying forecasts of a small contraction and ensuring a recession is avoided this year. GDP was unchanged from q two. Economists surveyed by Bloomberg forecast a tenth of one percent decline on average. Well. In other news this morning, Nathan the world's largest bank, has been hit by a cyber attack. The incident caused the US unit of the Industrial and Commercial Bank of China to reroot some treasury trades and may get more from Bloomberg's reshound Salamad in Hong Kong. The hack forced clients to reroot transactions. A large number of trades in US treasuries were prevented from being cleared. It left brokers and traders scrambling to US as the extent of the impact of the cyber attack. There are reports of liquidity being affected, and speculation continues to mount that the issues were a cattle for a very poor oaction of thirty year bonds. So to say, ICBC allerted clients that trading was being impacted. ICBC as seti hight cybersecurity for a mandant and has been offered assistance from the FBI in Hong Kong. I'm Rishard Salomit Bloomberg Radio Oka, rish thank you staying in Asia. The final day of the Bloomberg New Economy Forum in Singapore has wrapped up. Climate change was a major focus. We caught up with US Special Presidential Envoy for Climate John Kerry. People are well aware of how critical the situation is. Mother Nature has been sending us massive messages in the last years. We know we have to reduce the emissions. We know that the costs of not doing so will be much greater than the cost of doing so. And Special Climate Envoy John Kerrey praise the Inflation Reduction Act for attracting green investment to help fight climate change. Well, Nathan, let's check out some stocks on the move this morning. Shares a Biagio down more than eleven percent, the maker of Johnny Walker and Smeirnov Vodka issuing a profit warning because of a steep slowdown in Latin America. Shares of Plug Power They're plunging down more than twenty nine percent in early trading. The company reported revenue well below estimates. S and P futures are little changed right now up a point. Futures up two tents of one percent, a gain of sixty points. In NASTAC futures are lower by two tenths of one percent. That's a decline of twenty seven points. Tenure Treasury is down three thirty seconds, for a yield of four point sixty three percent. This is Bloomberg. All right, Nathan, thanks time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker. John, Good morning, Good morning, Karen. The FBI investigating potentially deadly attacks on election offices in five states, bombing some letters laced with fencanyl. The letters were sent to Nevada, California, at Georgia, Oregon, at Washington State. The Fulton County, Georgia Board of Commissioners chairman is Rob Pitts. Crazy people out there who will go to any extreme to disrupt, interrupt, fair, open, transparent elections in our country and specifically here in Fulton County. Officials are calling it domestic terrorism. They're only seven days until the government could face yet another shutdown. More in that story from Washington and Bloomberg. Steve Potis Congress needs to approve a budget that would keep the government funded through the rest of the year, but there are already some divisions among Republicans as to how that may happen. Democrats also say they wouldn't accept certain cuts to social programs, and the White House says that some of the bills Republicans are proposing would cut funds to law enforcement. White House Deputy Press Secretary Olivia Dalton says the time is running out and House Republicans should stop playing political games and follow the lead of the Senate by getting to work on bipartisan bills. Steve Potisk Bloomberg Radio. President Biden was in the Illinois Thursday congratulating union auto workers taking a victory lap after they won a new contract. The President reminding those workers he joined them on the picket line, and Donald Trump did not. I stood and other stood with his shoulder and shoulder on that picket line. My predecessor went to a non union shop and attacked. I hope you says, so. I hope you guys have a memory where I come from. It matters. Mister Biden was the first president in history to join workers on the picket line. The nation's first openly gay governor, looking to re enter politics nearly twenty years after he left former New Jersey Governor Jim McGreevy, announcing Thursday he'll seek the mayor's office in Jersey City in twenty twenty five. He announced in August two thousand and four he was a gay American and acknowledged having an extramarital affair with the male staffer he resigned that year. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker, and this he is Bloomberg Karen. All right, John, thank you well. We bring you news throughout the day right here on Bloomberg Radio. But now as you can get the latest news on demand whenever you wanted, subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com, plus Apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John Stash Hour, John Karen. The Thursday night game to kick off Week ten in the NFL. Not much of a game. Carolina Panthers have only won once all season. Chicago Bears came in having won only twice. Panthers got a seventy nine yard aquartment through the first quarter, but it is their only touchdown, and the Bears got one in the third quarter to take their first lead. Chicago won sixteen thirteen, and this helps the Bears get the first pick of the draft because they own Carolina's pick as a result of the trade of the two teams swung just before last year's draft when the Panthers moved up, and we're able to get the first overall pick and take quarterback Pryce Young NBA in Mexico City. Good one. We treated Atlanta and Orlando gray seabasket. Craig goes underde Ls at the corner. Dejante Let's take away just three Foma books take the lead ten twenty tenswoey tea that the final Hawks radio the Caltre Young forty one points in the victory. Gianna's Sun to the Cup reported in fifty four points but had two late turnovers, and Milwaukee blew a ten point fourth quarter lead and lost at Indiana one twenty six till one twenty four Celtics are home tonight to play in the Brooklyn Nets. The Wizards host Charlotte. The Warriors don't play until Saturday, when they take on Cleveland. Bruins. Hot Start continues the hat trick for Charlie Coyle in a five to two win over the New York Islanders. Rangers Hot Start with their tenth win. They beat Minnesota four to one. Connor Bdard, the young star for Chicago, two goals to assist his best game. Blackhawks beat Tampa Bay five to three. The player of the air at women's college basketball, Caitlin Clark forty four points in Iowa season openings win. John Stanshaware Bloomberg Sports, Karen all right, John, thank you well. Straight ahead on Bloomberg Daybreak, we're going to get the very latest out of Israel. We'll be speaking with the Bloombergs Kalite Allstein in Tel Aviv. And ahead of that conversation, SNP futures are little change down, futures up a tenth of up percent. NASDAK future is down two tenths of up percent. Ten year treasury down four thirty seconds, the yeal four point sixty four percent, and the yield on the two year is at five point two percent. Nimex screwed oil up eight tenths of up percent. And this is Bloomberg from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We want to get you caught up now on the war in the Middle East. We've seen more strikes into Syria as Israel continues its advances on Hamas in Gaza, and Israel's military now says it has agreed to quick humanitarian windows to allow people to flee the fighting in northern Gaza. For the very latest, we are joined now from Tel Aviv by Bloomberg News Economy and Government reporter for Israel, Kalie alstein Ghalid. Thanks for being with us. As always, I want to start off with this latest report that we're hearing, I think from Palestine Authority Radio about Israeli strikes on an out patient clinic in Gaza City. What more do we know? All right? Hi, Good morning, Nathan, so on the ground in Gaza Israeli army, as we know, has been operating at the heart of Kaza City over the past several days, and now we have been hearing more and more reports from the Palestinian side that some of these Israeli forces are approaching hospitals. So, as you mentioned, we heard the report from the Palestinian Authority radio that says that dozens were killed and wounded from an Israeli strike on outpatient clinics at Al Shifa Medical Complex in Gaza City. And we also hear Hamas saying that there are Israeli tanks in the vicinity of three different hospitals in northern Gaza, and these are different hospitals, Alvan Tisci, Al Nassel and Al Ajun Hospital, and the director of one of these hospitals, the Children's Hospital, issues a comment saying we've been surrounded in the hospital since yesterday and IDF vehicles are stationed around the hospital. We cannot provide even the slightest medical services, so that's what this hospital director is saying. Now, all these statements have not yet been confirmed by the IDEF, but I think we can probably definitely not probably expect more to come on that. But the Israeli military has said made some comments about potential targets in that area. What is the Israeli military saying about that? So, the Israeli military has been saying for a while that Hamas command centers are positioned underground beneath some of these hospitals. They've mainly focused on Al Shifa Hospital, and they've also presented some evidence the idea that they said was back by the US and the UK intelligence agencies. They've shown evidence that command centers of Kama's opposition beneath Al Shifa Hospital, and they say this is not the only hospital where this is happening. So that is why we are getting these reports of army, Israeli army forces surrounding these hospitals probably and this is coming after Israel's military confirmed US reports that there was an agreement on humanitarian windows in the fighting. What more do we know about that? Right? So, I think we're basically seeing a similar dynamic over the last couple of days with Israel providing humanitarian windows to allow people to flee in northern Gaza, and the IDF estimates that between fifty to one hundred thousand people have exited northern Gaza, over the last few days, with the total of almost some nine hundred thousand leaving the area since fighting began. And this is an area that usually occupies more than a million people, so that would mean that most people, according to the Ideas have left. At the same time as these people moved to the safe zones in the south of Gaza, we still see a modest number of eight trucks, that's how the UN describes it coming in from Egypt sixty five days. Trucks came in yesterday and the need is for at least one hundred trucks some day. That's what the UN said. And I think another interesting point to mention Nathan on what's coming and how long this fighting will take. We hear something on that from Israeli Prime Minister Benjaminitaniao who gives them an interview to Fox News tonight, and he says, well, it has taken a little longer than I had hoped, and he explained that this is taking longer on account of battle conditions on the ground and the safety of Ideas troops that Israel is obviously concerned with, and also getting out the hostages that they're in there. And he does admit that this is affecting the time that this operation is taking and just quickly about last thirty seconds scale. Does this say anything these comments from Nats on Yahoo about the impact that diplomacy has had on the Israeli side, Well, you know, Nathaniel denies that that Israel's agreed to any kind of ceasefire, so that hasn't been agreed upon yet. He also talks about these humanitarian fathers and he does give us a hint on the very interesting question of what will happen in the day after, and this is also associated with diplomatic talks, and he says that we'll have to find a government, the civilian government that will be there, but in the foreseeable future, we will have to make sure that this doesn't happen again. He is referring to the ectoty seven attacks. So we have to have a credible force that, if necessary, will enter godt the killers. That's from what he calls you, Homas Wilson. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify and anywhere else you get your podcasts. You can also listen live each morning, starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, seriusxmb iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak. HeSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Clinton on Israelis and Palestinians, SAG-AFTRA Strike Over, Ivanka Trump in Court

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 9, 2023 22:01 Transcription Available


On today's podcast: 1) Former US Secretary of State Hillary Clinton said both Israel and the Palestinians need new leadership in order to have a chance of achieving a peace deal once the current war in the Gaza Strip ends. 2) The five Republicans scrapping to fashion themselves as the alternative to Donald Trump opened their debate Wednesday night blaming the former president for the party's latest election embarrassment — then spent the next 90 minutes doing little to distinguish themselves from the GOP frontrunner. 3) Donald Trump's daughter Ivanka Trump testified she had no role in preparing his allegedly inflated financial statements and wasn't aware that he was claiming a net worth of more than $4 billion as she was trying to get a Trump Organization loan for the Doral golf club in Florida in 2011 3) Missed your favorite actors? After nearly four months of striking, they're coming back. Wednesday's deal between striking actors and studios and streaming services won't immediately restore filming to its full swing. That will take months. 5) Walt Disney, embroiled in another fight with activist investor Nelson Peltz, posted fourth-quarter profit that beat analysts' expectations and said it will cut an additional $2 billion in expenses. Disney stock jumps.  Full Transcript: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest developments in the war in the Middle East. The Pentagon says the US IS carried out an airstrike on a weapons warehouse in eastern Syria. Defense Secretary Lloyd Austin says the self defense strike was in retaliation for attacks on American forces in Iraq and Syria. Meanwhile, Israel says some fifty thousand more Palestinians have fled to southern Gaza as Israel's army pushes deeper in to Hamas strongholds in the north of the territory. All this as, Former Secretary of State Hillary Clinton says, both Israel and the Palestinians need new leadership. So I think you have to create the environment in which there is a chance to revitalize the peace process and a potential for a two state solution. Hamas is not interested in a two state solution. They are dedicated to the destruction of Israel. That is in their charter. If you've been watching lots of different outlets over the last month, that is what the leaders of Hamas say, you know they want to destroy Israel. Former Secretary of State Hillary Clinton added that while Israel's unlikely to agree to a ceasefire that would benefit Hamas, it probably will accept pauses to allow aid to reach civilians in Gaza. Clinton made the comments in an interview with Bloomberg's editor in chief John Micklethwaite at the Bloomberg New Economy Forum in Singapore. Well Nathan. The war in the Middle East was a major topic at last night's Republican presidential debate in Miami. The five candidates on the NBC stage were united in support of Israel, including Florida Governor Ronda Santis. I would be telling BB finish the job once and for all with these butchers. Come on, they're proris, their massacring innocent people. But there were devides over a to Ukraine and how to approach China. Of ak Ramaswami and Nikki Haley had a sharp exchange over banning TikTok in the last debate. She made fun of me for actually joining TikTok while her own daughter was actually using the app for a long time. So you might want to take care of your family first. Read my appreciation daughter man. Nikki Haley and the other candidates also went after front runner Donald Trump for skipping the debate. Jeanie she and Zano is a politics contributor for Bloomberg. She said he was a good president for the time, but he is not the right president for now. And then she pointed to the fact that he created eight trillion dollars in debt, he's wrong on Ukraine now, and the fact that we can't live in the past. Genie she Andzano notes the former president held a rally ten miles away rather than appearing on the debate stage. Meanwhile, Nathan House Republicans have issued subpoenas to members of President Biden's family. The move to subpoena the president's son Hunter and brother James comes as Republicans look to gain ground in their nearly year long investigation. So far, they have failed to uncover evidence directly implicating the President in any wrongdoing. Now to the latest developments caring in the New York Front trial of Donald Trump, his daughter Ivanka's day on the witness stand was filled with denials of any knowledge of her family's net worth calculations. Sloomberg's Ed Baxter has the story. She says she didn't know that her dad was claiming and that worth of more than four billion dollars as she tried to get a loan for the Durreal Golf Club in Florida. She flatly says she's not involved in his personal financial statements. Attorney General Letitia James says, not true. Ivanka Trump secured negotiated loans to obtain favorable terms based on fraudulent statements of financial condition, and she says the Trumps cannot hide from the truth. The Attorney General has wrested Ad Baxter. Bloomberg Radio all right ed, thanks well. From New York to Hollywood. The actors' union has reached a deal with studios to end its strike. Can we get the latest from Bloomberg's Doun Prisner. The vote by the union's Theatrical Committee was unanimous. Common ground was found on issues ranging from the use of artificial intelligence to payment from streaming services, and now, after four months, the strike by some one hundred and sixty thousand actors is over. The previously striking screenwriters have been back on the job for more than a month, so now production of scripted TV shows and movies can resume. And like the writers, the Actors' Union benefited from direct involvement in the talks by some of the most powerful people in Hollywood in New York. I'm Doug Prisner, Bloomberg Radio. All right, Doug, thanks now. Some of those most powerful people included Bob Eiger, and the settlement comes the same day Eigers Walt Disney Company posted fourth quarter profit that beat analyst estimates. Disney also says it'll cut an additional two billion dollars in expenses. Bob Iger says his company will also launch a beta trial bundle of Disney Plus and Hulu next month. We expected Hulu on Disney Plus will result in increased engagement, greater advertising opportunities, lower churn, and reduced customer acquisition cost, thereby increasing our overall margins. Man Right now, shares of Bob Bigers Walt Disney Company are higher by four percent in early trading. Well Nathan, Another CEO, is making news this morning. Bank of America's Brian moynihan said his company has a succession plan in place and that nothing is left a chance in deciding on his eventual replacement. Moynahan, who made the remarks at the Reuters Next conference, took the helm in twenty ten in the wake of the global financial crisis. And there's another bank in the spotlight this morning, Karen. That would be Morgan Stanley. Its wealth management business is under Federal Reserve scrutiny, sources say the New York based banks top regulators pressing whether the firm is taking adequate measures to prevent potential money laundering by wealthy clients outside the US. Representatives for the FED and Morgan Stanley declined to comment. And it's time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker, John Good morning, Hey, Good morning Karen. Former President Donald Trump did skip the third uop to at in Miami, instead holding a campaign rally about ten miles away in Heyaliah twenty twenty four is our final battle. Stand with me in the fight. We will finish the job that we started so brilliantly seven years ago. We never had a country like we had just three years ago. Meantime, at judge in Michigan expected to hear arguments today whether the Secretary of State there has the authority to keep Donald Trump's name off state ballots for president. Various groups have filed similar lawsuits in other states, portraying Trump as the insider of the January sixth Capitol riot. They point to part of the Constitution the prohibits a person from running for federal office if they've engaged in insurrection or rebellion. Industry regulators say power grades that supply more than half of the US population may run short of electricity during an extended cold snap or severe storm over the coming winter. That story in this report from Bloomberg's Charlie Pellett. The North American Electric Reliability Corps as regional system operators in a vast swath of the country, stretching from Texas to New England, are at risk of insufficient electricity supplies during peak winter conditions. The report came in a winter reliability assessment which also showed Quebec and Saskatchewan facing the threat of power shortfalls. The outlook is even more dire than last year's report, which set a quarter of Americans were at risk of cold weather power emergencies in New York Charlie Pellett Bloomberg Radio, the population of the US climbed to about three hundred seventy million and twenty eighty before reversing course starting to fall before the turn of the century. This according to News Census Bureau projections and the bureau's most likely scenario, the number of people sixty five or older, we'll overtake the number under eighteen in just six years. Add A nineteen thirty two painting by Pablo Picasso, fem A la Montre, sold for one hundred and thirty nine point three million dollars last night at Sotheby's in New York. At a stroke, it becomes the second most expensive piece by the artist to santl at auction. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker and this is Bloomberg Karen. All right, John, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now, as John said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dut Plus, Apples, Spotify, and anywhere else you get your podcasts. Four off time now for the Bloomberg Sports Update with John Stashauer, John Karen. The NBA took Tuesday off to let everyone vote back with a busy night on Wednesday, including showdowns in the East and West. Both games won by home teams by three points. In Philadelphia, the Sixers made it six wins in a row. They beat the Celtics one oh six to one oh three. They lost to Boston to the second round of last year's playoffs, when they blew a three to two series lead. The Sixers had the best record in the East and the Denver Nuggets, defending NBA champs, had the best record in the league eight and one. They beat Golden State one o eight to one oh five. N Koleokus scored thirty five points. Klay Thompson couldn't get a shot off at the buzzer as he tried to tie the game. Victor Wembin Yama's first game in New York it didn't go well. He scored only fourteen points, not only four of fourteen. The Spurs lost to the Knicks one twenty six to one oh five. The Lakers got blown out at U and lost by thirty four Lakers or zero to five on the road. Shay Gilgess Alexander report in forty three points for Oklahoma City in a win over Cleveland. Capitals lost in overtime Florida one four to three. Ron Washington, a seventy one year old baseball lifer, named the new manager of the Los Angeles Angels. He managed the Texas Rangers for eight years, won a couple of tenants there, but he has not managed in the big leagues since twenty fourteen. Not a great NFL game tonight Chicago and Carolina. The Bears will again be quarterbacked by the undrafted rookie Tyson Badge in third straight week as Justin Field's not ready to return from the injured thump. John stash Ellert Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We want to take you to Singapore now and the Bloomberg New Economy Forum, where world leaders have been weighing in on the economy and geopolitical risks, including former Secretary of State Hillary Clinton. She sat down with Bloomberg News Editor in chief John Micklethwaite to discuss Israel, Ukraine, China, and the future of the United States. They began with a discussion on President Biden's upcoming meeting with Chinese President She Jinping. Part of the reason it was, you know, somewhat more positive when I was there and we had a very regular set of meetings is because Hu Jintao was a Chinese leader who decided he would not stay for life, he would fulfill his term, he would follow the guidance of the Chinese Communist Party, there would be a transition a new group of leaders. You know, some holdovers, but you know, other new faces would be in power, and so there could be a constant renewing of both the Chinese government and through that the American relationship. Once she Jin Ping decided to stay in office for life, that creates a lot of you know, challenges within their own system, and I think we're seeing some of that. And so part of what I hope will come out of this meeting is an attitude by President Shei that you know, he wants to get back to some kind of regular order, that he sees it in China's interests to really dig in with the President Biden, develop a platform for discussions for problem solving, really sending that signal. I think he will find a receptive partner with President Biden if that's available. Israel and Hamas, I think you are in favor of a humanitarian pause or pauses, but you're against the SIESFA which many people in this region asking for. You know, the numbers of dead arising rapidly ten thousand according to Hamas Italy, but you still got like eighty nine dead at the UN which is a gigantic number for United Nations, the Red Crescent and so on. Can you perhaps explain why you don't want to cease far? There is a difference between a ceasefire which would in effect freeze the situation in Hamas's favor. I negotiated a ceasefire between Israel and Hamas in November of twenty twelve, and at that point both parties did not want to go any further. The breaching of a pre existing ceasefire by Hamas with rockets being sent into Israel had not caused a lot of damage, and there also had not been the development of the infrastructure of terror that Hamas has built in Gaza. I don't know any nation represented at the New Economy Forum faced with the kind of assault that Israel was faced with by Hamas that would not be number one defending itself and number two trying to prevent it from happening again, because with every other cease fire it did happen again until finally we got to the breach of a ceasefire which was in existence on October seventh with the terrible attack by Hamas. So a ceasefire, if it were possible which frankly, I don't think is possible. I don't think you know, Israel is interested in a ceasefire at this point, but they are perhaps willing to have what we do call humanitarian pauses for the purpose of both getting aid in to try to assist the civilians in Gaza, but also getting the more than two hundred and forty hostages out. You know, these hostages are not just Israeli. One of the biggest groups of hostages are workers from Thailand who are working on farms in Israel. So there is a global dimension to the hostages that a pause could perhaps inspire some willingness on the part of Hamas to let the hostages go. But a ceasefire that would freeze the situation at this point is not something that is going to, you know, really undermine Hamas's capacity, especially with two hundred miles of tunnels that they have constructed over the last decade, to launch yet another attack on Israel, and that would be intolerable, and I think it would be intolerable for you know, any nation represented at the forum. Well, this seemed to be kind of two big theories going on about this war. One is that this is the end of the peace process, the other, which you've championed. The other is that this is if nothing else, this will prompt finally some move towards the two state solution. Which which which side of that do you fit on? Well? I actually try to fit on both, and I'll tell you, John, I think it's important to have some aspiration, some goal that we can look toward. Many of us, my husband particularly, worked very hard on trying to get a two state solution, and it, frankly, in retrospect, is heartbreaking that Yaser Arafat walked away from the deal that Bill had broker between Israel and the Palestinian authority back in two thousand. There could have been a Palestinian state up to ninety seven percent of the land from the nineteen forty eight division that would have been in existence for twenty three years now. So I think you have to create the environment in which there is a chance to revitalize the peace process and a potential for a two state solution. Hamas is not interested in a two state solution. They are dedicated to the destruction of Israel. That is in their charter. If you've been watching lots of different outlets over the last month. That is what the leaders of Hamas say. You know, they want to destroy Israel. So Hamas is not a partner for any kind of peace or two state solution. But the Palestinian authority might one time again be. New leadership in Gaza might again be So we have to get to a point where that's possible. Do you think that Benuine Nasignol, who is a partner for a two state solution. I don't think there is any evidence of that. I think the Israeli people will have to decide about his leadership. I think there will be investigations about what led up to and what happened on October the seventh. But I think there needs to be new leadership of the Israelis and the Palestinians in order to have any chance at some kind of peace deal, especially a two state solution. There's one area just I lost you once serious one, then that are slightly more amusing one. But on the serious side, you look at things like Ukraine. At the moment, there is definitely a strategy among America's enemies. You could see putin waiting perhaps for Trump, trying to dig in and wait, but also I think also counting on Congress where you feel that Congress feels over extended. It's got the border, it's got spotenningh I'm in Israel. Do you worry about America feeling as if it's over extended and unable to carry out the kind of global policies that you believed in. Well up until now, the Biden administration has done quite a remarkable job. I mean, they put together a coalition to support Ukraine, which I think many people would have thought unlikely when Biden took office. So I do think the legislative agenda that Biden got passed is also another very strong indicator of being able to get things done. I do agree with you that it is going to be challenging in the Congress to get more funding for Ukraine to provide the funding Israel needs to provide the kind of support that is required to keep our alliances strong around the world. But at the end of the day, I think the president will get that. And I also think there's an opportunity for the President because the Republicans in the Senate have said, you know, we're on board with all of this, but we want to make some changes at the border. I think that, you know, the Democrats should negotiate to see what kinds of changes would be palatable for the Democrats in order to secure the border, in order to make it clear that you know, Democrats want a secure border and a humane system for people who are trying to enter the United States, but we want it to be orderly. So I think there's going to be a lot of tough negotiation. At the end, I think the president will get what he needs. One very last things on the Republican side, you will have noticed how much traction Nicky Haley has been getting as a woman who was the American ambassador the UN. Do you think that Biden was to stumble that might be room for another woman with slightly more foreign policy. Well, I don't know the answer to that, but I hope Biden doesn't stumble. I hope that he goes all the way to the finish line because I think he's earned it, he deserves it, and you know, honestly, the only real argument or complaint is that he's old. And you know what, I think everybody who's his age would be very happy if they were as productive as he is and has gotten as much done as he has, and traveled the schedule he's traveled, so you know, I'm going to continue to support him, and I think he's our best candidate for twenty twenty four. And that was former Secretary of State Hillary Clinton speaking with Bloomberg News Editor in chief John Mikelthwaite. This is Bloomberg day Break Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Election Results: Big Wins for Democrats; Ohio Abortion Rights Vote Passes

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 8, 2023 17:30 Transcription Available


On today's podcast: 1) Ohio voters enshrined abortion rights in their state's Constitution, a boon for Democrats running on the issue and complicating Republicans' approach to the 2024 elections. 2) Political polarization has helped make 2023 the biggest off-year for ballot measures in more than a decade in the US, 3) Israel said its troops have entered the middle of Gaza's main city, as they continue their operation against Hamas. 4) Two days after former President Donald Trump testified at his New York Fraud trial, it's his daughter Ivanka's turn to take the stand.    Full transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with last night's election results and a major victory for abortion rights in Ohio. Voters approved Issue one, which enshrines the right to abortion access in the state constitution, by a fifty six to forty four percent margin. Bloomberg Politics reporter Mark Niquette is in Ohio and has more It passed pretty overwhelmingly. And what's going to get a lot of attention is this past in what has become a Republican state. And it's clear that this issue passed even in counties that Donald Trump carried pretty handily in twenty twenty. Bloomberg's Mark Mniquette reports this makes Ohio the latest state to back abortion rights after last year's Supreme Court decision to overturn Roe v. Wade. In the interest of transparency, we should note that Michael Bloomberg, founder and majority owner of Bloomberg Radio parent Bloomberg LP, donated a million dollars to the campaign supporting Ohio's abortion rights amendment. Well Nathan, It was also a good night for Democrats in Virginia, with every seat in the state legislature up for grabs. Democrats won majorities in both the House of Delegates and the state Senate. It's a blow to Republican Governor Glenn Youngkin. He's seen as a presidential contender in twenty twenty eight and had hoped to pass a fifteen week abortion band with GOP control. And in another major race, Democrat Andy Basher has won a second term as governor of Kentucky, a state former President Donald Trump carried by nearly twenty five points in twenty twenty And In other political news, Karen Tonight, in Miami, Republicans hold their third presidential debate. Five candidates will take part. Ron De Santis, Sneaky Haley, Vivek Ramaswami, Tim Scott, and Chris Christy Well Nathan notably absent, will be GOP front runner Donald Trump. Two days after the former president testified at his New York fraud trial, it's his daughter, Ivanka's turn to take the stand, and Bloomberg's ad Baxter has the story. The trial issue is whether Donald Trump inflated the worth of his properties to lenders and other business dealings. Ivanka Trump has pretty much disappeared from the public spotlight, opting to leave both New York and Washington, d C. For Miami, but part of what prosecutors want to look at as her role in several real estate transactions, as well as the valuation of her New York apartment, which they say was priced at about two and a half times the value ed Baxter Bloomberg Radio. Okay, Ed, thank you. We now turn to the latest developments in the war in the Middle East. Israel says its troops have entered the middle of Gaza's main city. Meanwhile, Saudi Arabia's Minister of Investment says talks toward normalization of ties with Israel remain on the table, Despite the Kingdom criticism of Israeli military action. We spoke exclusively with Khalid Alfala, you know when those discussions were taking place, and his Royal Highs, the Crown Prince was clear that it is contingent on a pathway to peace for resolution of the Palestinian questions. That was on the table, that remains on the table. And obviously the setback over the last month has brought that has clarified. Why was Saudi Arabia so adamant The resolution of the Palestinian conflict has to be part of a broader normalization in the Middle East. Saw the Investment Minister. Khalid Alfala added his country is pained on a human level at the loss of life in Gaza and in Israel. He spoke at the Bloomberg New Economy Forum in Singapore. Well back in the US, Nathan, the House is voted to censure Democrat Rashida Tahlieb of Michigan for her rhetoric about the Israel Hamas war, and Speaker Mike Johnson presided over the vote on this vote. Quote. The yea's are two one hundred and thirty four and the nays are one hundred eighty eight, with four answering present. The resolution is adopted. The House's action was an extraordinary rebuke of the only Palestinian American in Congress to leave defended her stance, saying she quote will not be silenced and I will not let you distort my words. Turning to markets now, Karen, the s and P five hundreds. Coming off seven straight days of gains. Today, investors await more clues on interest rates from a host of Central Bank officials, including FED share J. Powell. Yesterday, FED Governor Christopher Waller commented on the recent jump in tenure yields since the beginning of July. This thing has gone way up, almost a full percentage point. I think in Central Bank terms of financial markets, that's an earthquake. Governor Chris Waller notes yields on ten yere treasuries have climbed more than one hundred basis points since the end of July. Well, earnings will also be on investors' minds. This afternoon, we hear from Disney, Nathan and Bloomberg Stown Buzzby as a preview. With strong revenue expected at its theme parks, Disney forecasts report overall earnings growth for last quarter and to once again add subscribers to its flagship Disney Plus streaming service investors also watching any comment on when that streaming business will be profitable, the latest on spinning off its ESPN network into a separate streaming unit, and updates on selling off a ABC network and other non core media holdings. Bloomberg consensus calls for adjusted earnings per share of sixty nine cents revenue of twenty one point four to three billion dollars. Tom busby Bloomberg Radio, Okay, Tom, thanks and after the bell earnings to get you caught up on watching Shares of Robinhood They're down seven and to half percent in early trading. The online brokerage reported revenue that missed estimates. Bumble shares are down nine percent, a day after announcing it would replace its CEO. The dating app reported worse than expected revenue guidance. Rivian Automotive shares are up six and a half percent. The ev makers raising its forecast for overall production this year, and forgive me. Shares of Toast are Toast this morning they are down seventeen and a half percent. The restaurant software company lowered the upper range of its full year revenue forecast, and it is time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tunker. John Good Morning, Good morning, Karin. History made in the City of Brotherly Love. Among the results of tuesday's election, Democrat Cherrell Parker won Philadelphia's mayoral election. Parker becomes the first female mayor of the city. No matter where we went, our message stayed the same. And guess what I learned during that time Philadelphia that people were yearning for authenticity. Parker won with seventy four percent of the vote. Another first in the nation's small estate, Democrat Gave Mmo defeated Republican Jerry Leonard to win Rhode Island's first congressional district seat and become that state's first black candidate to elect it to Congress. The journey of so many Rhode Islanders and their families is one of Britain, hard work, determination and resilience. And I stand on the shoulders of so many who came before me to make this day possible. Imoll picked up sixty five percent of the vote there. Based on questions for the bench, a majority of justices on the Supreme Court appear inclined to uphold a federal gun ban on people who are under restraining orders for domestic violence. The Solicitor General, Elizabeth Prelogord defended the law. The constitutional principle is clear, you can disarm dangerous persons. The federal ban has been on the books for thirty years. We Works collapse is spreading through the battered commercial real estate industry, threatening to upend dozens of leases in cities including San Francisco and New York. That story from Bloomberg's Charlie Penllett. The co working giant spiral into bankruptcy, hit landlords along the way as it renegotiated and sought to exit many leases. Now Monday's bankwet see filing and a plan to terminate nearly seventy of those contracts is set to exacerbate issues facing many of we Work's landlords. The tenant wants out and could have more power to leave. Office owners have been grappling with a slowdown spurred by higher borrowing costs that are pressuring building values, as well as a shift in tenant demand with a rise in remote work in New York. Charlie Pellett, Bloomberg Radio and Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker, and this is Bloomberg Karen. All right, John, thank you. It is time now to get a check of sports. But first we're going to tell you that you may bring your news throughout the day here on Bloomberg Radio. But now, as John said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcast. Now is Sports Hears John stash Hour, John Karon. The college basketball season is underway and it begins with Kansas ranked number one. The Jayhawks had a season opening win on Monday, and the day after, they restructured the contract of their longtime coach Bill Selph. He's won two national championships, he's already in the Hall of Fame, and self's new contract means that he surpasses John Caliperi. He's now the highest paid coach in college hoops Baylor being Auburn eighty eight eighty two, a win for Saint John's playing for the first Summuner, their new coach, another Hall of Famer Rick Patino. There was no NBA. There's some big ones tonight. It's the Celtics and Sixers in Philadelphia. Both teams are five and one. Philly's four and oh at home Denver the defending NBA Champs seven and one, five and oh at home. And tonight welcoming in the Golden State Warriors. San Jose Sharks finally got a win. It was two to one over Philadelphia. That's their first win of the season. It comes in their twelfth games. See. Titans say they will stick with rookie quarterback Will Levis even when the incumbent QV Ryan Tannehill returns from his ankle injury. Lev Is very impressive in his first Star with He threw four touchdown passes. They drafted him in the second round out of Kentucky. Kyler Murray's going to make his season debut for Arizona on Sunday, back from the torn ACL suffered last season. Josh Dobbs not surprisingly becomes the starter in Minnesota. He was pressed into duty last Sunday because of an injury to the rookie quarterback who went down and Dobbs rallied the Vikings to victory. Of course, they've lost Kirk Cousins for the season. John Stanshleyer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. We want to get you no more results from last night's off off year elections. Abortion rights may have been officially on the ballot in just one state, but the issue may have driven voters in races beyond that state Ohio, and into Virginia and perhaps beyond for more. We're joined now by Bloomberg News Senior editor Bill Ferries. Bill, good morning. It was a pretty overwhelming result for Issue one in Ohio. Does that results have residents into next year's election? Absolutely? I think for Democrats who have been really trying to get the party to focus on abortion rights, they're all seeing what they would call victories in Ohio, Kentucky and even Virginia last night, and I think they're going to say that that is a positive way forward for them looking into twenty twenty four after what is probably many would say has been a tough week looking at Paul showing President Biden perhaps lagging former President Trump in a number of the key swing states. So this is something I think, given the results last night, you're going to hear Democrats talking a lot more about in the coming months that abortion. I'm sorry. That result in Virginia in particular is pretty interesting because the Republican governor there, Glenn Youngkin, who's been talked about as a potential presidential candidate, not just in twenty twenty eight but this this cycle as well, had campaigned pretty hard on this idea that if Republicans took over the state legislature, that a fifteen week abortion ban could be passed in Virginia. What does this result for Democrats winning in Virginia mean for Youngkin's political prospects. Well, for Democrats, I think it's a big sigh of relief that the Virginia still came in I think on their side, and looks like both chambers are going to be in Democratic hands going into the going in the next year for Young Kin, I think it's going to be it's going to make that idea that he could be some sort of last minute candidate if for some reason Donald Trump is not in the race. It starts to rule that out. He has a much weaker hand facing Democrats in both chambers in terms of being able to get his policies passed and dominating the agenda. I think Democrats are going to try to set the tone once they take their seats. It does, you know, it's still I think the idea that Youngkin could could be a candidate in twenty twenty eight is also tested a little bit. It's so early to even be talking about that at this point. But if you're a potential yet we do. If you're a potential candidate looking that far ahead, you think about the agenda you want to set, the accomplishments, the legislative accomplishments you'd like to have. And I think this makes that a lot harder for someone like Governor Youngkin to plan out and game out ahead of that election. You know, almost five years from now. You mentioned Democrats potentially talking more about abortion rights into this election cycle. What about the economy, that's been an issue that this present has struggled to gain traction on. Does abortion override economic issues for voters in this election cycle? You know, that's the economy is often the deciding factor for a lot of voters going into the polling booth. I think there are definitely voters on both sides who would view abortions as the key issue, the biggest thing, the most important thing to them. But in the end, you know, I think the economy is often what swings voters either way, particularly those independent voters in the middle. If heading you know, in the months heading into November twenty twenty four, they're feeling better than they are now about the economy, that probably benefits the incumbent of the Biden administration. If they're feeling worse and there's a lot of signs that, you know, the economy could be struggling more next year than it is this year, then that makes it I think a harder slog for the president and his team to argue that they should remain in place. So it's the economy, you know, it's that Carville saying it's the economy stupid. I think that that's always going to be if not the biggest, one of the biggest factors. We know that voters right now are not very pleased with where things are, even if some of the numbers are perhaps better better than forecast. In the time we have left, Bill, I want to talk about geopolitics and the latest in the Israel Hamas war, with Israeli troops getting gaining ground in Gaza City and now the G seven commenting what's the latest. Yeah, so we heard from Israel, Israel's defense ministers today saying that their forces are now in the heart of Gaza City. You know, they've been they've kind of encircled Gaza at this point, and they say they're going after key Hamas leaders and trying to destroy some of the tunnel networks and the weapons depots that have been built up there. And the G seven coming out today, the foreign ministers coming out with a unified statement saying that there should be humanitarian pauses in the war. That's of course separate from a cease fire. But Israel, who's even pushed back on the idea of some of the pauses, saying that aid is getting in and any pause would only benefit Hamas. So lots of complicated politics going on there still. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon alection devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, SERIUSXM, the iHeartRadio app, and on Bloomberg. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
Israel War Enters Second Month; Fireworks at Trump Civil Trial; WeWork Files for Bankruptcy

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 7, 2023 17:40 Transcription Available


On today's podcast: 1) Israeli Prime Minister Benjamin Netanyahu said he sees his country having security control over Gaza for an “indefinite period,” suggesting it will maintain that role even after fighting in the besieged territory ends. 2) Donald Trump took to the witness stand Monday morning and within minutes turned his day in court into a live Truth Social post. No one understands real estate like he does, Trump testified, and the banks knew what they were doing. The judge sitting next to him is “biased,” the court is a “fraud” and the case against him “crazy,” Trump said, voice rising. 3) Former high-flying startup WeWork filed for bankruptcy listing nearly $19 billion of debts, a fresh low for the co-working company that struggled to recover from the pandemic. 4) In football, the Los Angeles Chargers break the New York Jets 3-Game win streak Full transcript: Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the war in the Middle East. Today marks one month since the Hamas attack in southern Israel that's set off the conflict. Now, the Hamas run health ministry in Gaza says more than ten thousand people have been killed since the fighting began on October seventh, but Israeli Prime Minister Benjamin Netanyahu is rejecting calls for a ceasefire. There'll be no ceasefire, general ceasefire in Gaza without the release of our hostages. As far as tactical little pauses an hour here, an hour there, we've had them before. I suppose we'll check the circumstances in order to enable goods, umanitarian goods to come in or our hostages individual hostages to leave. But I don't think there's going to be a general seas far and Prime Minister Natanyah, who tells ABC News Israel could have security control over Gaza for an extended period. Israeli military spokesman Peter Lerner tells Bloomberg Radio the goal of war is to dismantle humous as a governing authority and a terrorist entity. Of course, we understand that that role, that goal is a very expensive goal and it will take time. And so the operation itself, the war itself, is an open ended war. It so we don't have any power glass counting the minutes until we end. And you can listen back to our entire interview with Israeli military spokesman Peter Lerner on the Bloomberg Talks podcast. Well, Nathan, back here in the US, the civil trial continues in New York against Donald Trump. It was a fiery day one. On the witness stand for the former president of Bloomberg's, Ed Baxter has the story. Trump yelled at the judge, said he was biased, and the court was a fraud, was a skill, and this is the case. It should have an attorney general. Letitia James says she got what she needed. At the end of the day, the documentary evidence demonstrated that, in fact, he falsely inflated his assets, and Bloomberg's Patricia Hurtado says she's never seen anything like it. He was claiming that I've done real estate for fifty years and as a developer, basically I have a right to just declare magically what Something's worth. Daughter Ivanka is on the stand Wednesday Ed Baxter Bloomberg Radio. Okay and thank you now. Donald Trump will not be participating in tomorrow Night's Republican presidential debate in Miami. Five candidates will. They are Ron DeSantis, Nikki Haley, Vivek Ramaswami, Senator Tim Scott, and former New Jersey Governor Chris Christie. Former White House chief of staff mc mulvaney says Trump's decision not to participate may have repercussions. I think it may come back to haunt him when Joe Biden, assuming Bibes's the Democrat nominee, has the ability then with good reason to say, oh, Donald, you didn't debate in the primary, I'm not debating you in the general. And Trump would be desperate for a debate headhead against Bid and Bide would be desperate for an excuse not to do one. And former Trump White House Chief of Staff mcmulvaney says Nicky Haley is the one with the most to gain from this debate. Mulvaney was on Bloomberg Sound On with Joe Matthew. You can catch the program one pm Eastern on Bloomberg Radio or listen on demand wherever you get your podcasts. Well, Nathan, Before we get to that Republican debate tomorrow, voters head to the polls today to vote on some key issues. So Hio residents will decide if access to abortion care should be enshrined in the state's constitution. It'll be closely watched nationally as a gauge of a key issue ahead of the twenty twenty four presidential elections. And in Virginia, Republican Governor Glenn Younkin is campaigning hard for his party to hold the state House and reclaim the Senate majority GOP victories. Goodline Youngkin up as a potential alternative to Donald Trump as the party's twenty twenty four presidential nominee. Well, Karen, let's turn now to the markets. We're watching shares of ubs they are hired by more than three percent. In Europe, the Swiss Bank, which took over Credit Sweee earlier this year, reported stronger than expected client inflows. We get more from Bloomberg's Guy Johnson in Zurich. We are getting some stabilization in terms of client money to keep the wealth management division that is really important. So we managed to stabilize that that may be give than the opportunity to start to kind of accelerate things here a little bit. But these circle numbers are basically just bridge numbers. We we waiting for the fullier numbers and at that point we're going to get a strategy update. At that point, we're going to get a clear idea of where Sergio Mossy, the CEO, and the rest of the team are going to take this combined Edsito mean Bloomberg Sky Johnson says overall, UBS posted a quarterly net loss of seven hundred and eighty five million dollars, its first quarterly loss in almost six years. Well Staying in the banking industry, Nathan Morgan Stanley's James Gorman, who's preparing to step down as CEO at the end of this year, says he will vacate his post as chairman by the end of twenty twenty four. Gorman made the comments in an interview at a nie K forum in Tokyo. Ted Pick, a co president and three decade veteran of the firm, will be elevated to the top role in January, and turning to the US economy, Karen, it is too early to declare victory over inflation. That's the view from Minneapolis Fed President Neil Kashkari. We're making progress. The job market remains strong, the unemployment rate is still quite low at around three point nine percent, So overall the fundamentals are healthy. But we haven't completely solved the inflation problem. We still have more work ahead of us to get it done. Speaking of Fox News, Minneapolis Fed chief Neil cash Care ads he's nervous about declaring victory on inflation too soon. Well. In Corporate News, Nathan, it was once a high flying startup, and now we Work has filed for bankruptcy. The company said had struck a restructuring agreement with creditors and with streamline its rental portfolio of office space. We works collapse as the culmination of a year's long saga for the company, which was once the biggest office tenant in Manhattan. And Karen Bloomberg News has learned SpaceX's on track to book revenues of about nine billion dollars this year across its Rocket launch and Starlink businesses. SpaceX has projected a rise to around fifteen billion in twenty twenty four. The figures represent a rare look into the finances of the Elon Musk led company, which sells commercial space on its reusable rockets as well as Internet beamed down from a constellation of satellites. Right, Nathan, thanks time now for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker. John, good morning, and good morning, Karon. The US government's debt interest build has now soared passed one trillion dollars. The story in this report this morning from Bloomberg's Jeff Bellinger. Bloomberg analysis shows annualized interest payments on the US government debt pile climb past one trillion dollars at the end of last month. That amount has doubled in the past nineteen months and is equivalent to fifteen point nine percent of the entire federal budget for fiscal year twenty twenty two. The worsening metrics may reignite debate about the US fiscal path amid heavy borrowing from Washington. That dynamic has already helped to drive up bond yields, and it led Fitch Ratings to downgrade US government debt in August Jeff Bullinger, Bloomberg Radio. The Supreme Corps today is taking up a challenge to a federal law that prohibits people from having guns if they're under a court order to stay away from their spouse, partner, or or other family members. The Federal Appeals Court in New Orleans struck down the law. Following the Supreme Court's bruined decision. In June of twenty twenty two, I Well Governor Kim Reynolds officially throwing her support behind Florida's governor for the Republican presidential nomination, Ron DeSantis is the person that we need leading this country. At ABC News. IPS's polls shows if the Republican Party nominates someone other than former President Trump, more Republicans said it would be more likely to turn out and vote an election day. Talks with striking Hollywood actors are ongoing after the union rejected with the studios called their last best and final offer. The Strength started in July. Netflix co CEO Ted Sorrando says he's hopeful and agreement will be reached soon. We're in the business of telling stories. That's what we want to do every day. So his grind to a hall for a few months, and so we're going to try our best to get things up and running and get the output. Becka for our fans too. Ted sarandas with Netflix, spoke to Reuters. Elon Musk's company, Neurrolink, is seeking a volunteer for its first clinical trial, as looking for someone willing to have a chunk of their skull removed by a surgeon so a large robot can insert a series of electrodes and super thin wires into their brain. Global news twenty four hours a day and whatever you want it with Bloomberg News Now. I'm John Tucker and this is Bloomberg Karen. All right, John, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But as John said, you can now get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com, plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour, John Karen, what did I football? The cab Week nine Chargers at the Jets and LA's Darius Davis ran a punt back eighty seven yards. I'm minted forty five into the game. Chargers went on to have eight sacks and crushed the Jets twenty seven to six. Both teams are now four and four. The Celtics are five and one. Their first loss of the season came in overtime at Minnesota, one fourteen to one oh nine. The Sixers are five and one. Joel mbing forty eight points in a one forty six to one twenty eight win over Washington. The Wizards are one and five. Steph Curry scored thirty four. Golden State won at Detroit, won twenty to one. Oh nine. Bruins keeping the hot start. They're ten to one and one. They've beaten Florida twice. They were stunned by the Panthers in the playoffs last season, Boston won three to two. College basketball is underway a lot of blowouts, including number one Kansas winning by forty three. Second ranked Duke won by thirty eight, Third ranked Perdue won by fifty three, but Michigan State, ranked fourth in the country, stunned in overtime, lost to James Madison. Michigan State's longtime coach Tom Izzo nephew as an assistant for James Madison. Three baseball teams have new managers. The Cleveland Guardians hired thirty nine year old Stephen Boyd, just recently retired as the player, spent last season as a low level coach in Seattle. He replaces They're retiring Terry francona great counsel, leaving Milwaukee after nine years with the Brewers, but stayin in the NL Central. He's the new manager of the Cubs. The Mets new manager is his former Yankee coach, Carlos Mendoza. John Stanshiawer Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. It has now been one month since the deadly Hamas attack in southern Israel and the retaliatory war in Gaza shows little sign of slowing. The Israeli military says it has Gaza City surrounded and is moving closer to the city the center as it carries out operations from the ground and air, while the Hamas run health ministry in Gaza says the death toll from this month of war has now passed ten thousand. For the latest were joined by Bloomberg News Israel government and economy reporter Galite Alstein Ghalite, good morning. We are one month into this war. Given what we're hearing from Israeli leaders in the political and military spheres, what could month two look like? Yeah, so, actually we've been hearing on Prime Minister in Nathaniel On tonight, he speaks to NBABC News in an interview. He references the talks of a possible ceasefire in the Gazza striep, and he says that it's totally dependent on the release of all Israelis being held hostage by Hamas. However, he does say that Israel could allow tactical passes for humanitarian purposes. He says, and our hear and our their quote unquote, and he explains that in his opinion, the ceasefire would hamper the war effort because the only thing so he says that works on these criminals. As he refers to Hamas, is the military pressure that Israel has been excerting. So we also hear on Israel's defense minister, you're Afghan speaking today, he doesn't give a very specific wife frame for the war moving forward, but he does say it will take more than a week or two, so we can at least read into what he says is the fighting going on for several more weeks, the fighting itself for several more weeks, but what comes after, what comes as far as the change of leadership that Israel is looking for after it achieves that goal that it's set out to dismantle and destroy Hamas. So I think that is still a question that remains to be answered, and I do not think that there is a clear answer. Also for any Israeli officials or other official shows we're involved in some sort of talks or vaccinal talks on this som on this matter, it is a complicated issue. If I go back home to what Nataniel said last night, he didn't discuss some who would be ruling or who would be leaving Gaza in the day after, but he did say that for an indefinite period after the war. Israel would like to maintain, will maintain and will want to maintain and overall security responsibility in Gaza, suggesting that it will maintain that roll even after the fighting in the territory end. So that does not mean that Israel will will occupy Gaza and will rule there, but it will definitely want we want an arm and a leg in the security responsibility. In the strip you mentioned the Prime Minister natanyahuo talking about tactical pauses in the fighting. We heard from Secretary of State Anthony Blincoln over the weekend in his whirlwind trip talking about humanitarian pauses. Is there really a difference between those two ideas well? You know, I think when you speak about human humanitarian pauses, like Nathaniel said himself, you speak about very brief arm positive he said, an hour here, an hour there, while seasfire fire as much you know, wider concept that basically doesn't even seem possible now in the sense that there are a lot of Israeli troops and thousands of Israeli troops on the ground in Gaza encircling Gaza City fighting there, and uh and the and the and the wider seas fire and overall seasfire that would see fighting completely pause for a longer time than an hour or or a couple hours here and there doesn't seem possible as long as so many Israeli troops are in the ground and there's so much competing going on on the ground. We've also heard Israeli leaders say that there's no humanitarian crisis in southern Gaza from what we can tell with the situation on the ground. Uh does that square with what we're seeing. So look, we're saying, first of all, we're still seeing that. The Israeli Army saying that it continues to operate a sa corridor even today for four hours towards Wadi Gaza, So that would mean people moving still moving from northern Gaza to the southern part. And the visually Army publishes documentation today of residents living the Day two neighborhood that's a neighborhood in the southern part of Gaza City waving white cloths at tanks, meaning they want to say, you know, we're innocent civilians led us through and the army is doing that. And we also saw yesterday the Egyptian border did eventually reopen for the evacuation of foreign nationals and dual citizens, and also a handful of injured people. We do not know the exact numbers, but that did happen. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak. 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Bloomberg Daybreak: US Edition
Israeli Troops Encircle Gaza City; Trump to Testify at Civil Trial

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 6, 2023 16:32 Transcription Available


On today's podcast: 1) The United Nations said no foreigners, dual-nationals or injured Palestinians were able to leave the Gaza Strip over the weekend. Israeli troops encircled Gaza City and effectively cut off the northern part of the Palestinian territory from the south, according to the military. 2) Donald Trump Jr. told a judge he wasn't involved in preparing financial statements for his father's real estate company that are at the center of New York state's civil fraud trial. 3) Billionaire investor Warren Buffett's Berkshire Hathaway is feeling the effects of the deals drought. Its cash pile scaled a fresh record in the latest quarter, hitting more than $157 billion.  4) Plus, Kansas City Chiefs beat the Miami Dolphins and the Buffalo Bills lose to the Cincinnati Bengals.  Full Transcript:Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest on the war. Israel's military says its ground forces have now encircled Gaza City and taken control of a Hamas base. We get more from Bloomberg's Paul Wallace. They stepped up their assault overnight and they've now encircled Gaza City, which the Israeli military has described as the center of gravity for Hamas's operations. They also say they've effectively cut the Gaza Strip in two now between the north, where they're focusing their military activities, and the south, where they're hoping, since the side of this conflict, for civilians to evacuate too. And Bloomberg's Paul Wallace reports Israel also says a humanitarian corridor for Gaza City area residents to move south remains open well. Nathan Diplomatic efforts to stop the fight and continue. Secretary of State Anthony Blincoln is now in Turkey after an unscheduled to stop in Baghdad. B Lincoln says more needs to be done to get aid and to go. We have about one hundred trucks a day going in. That's good, but it's grossly insufficient. So now we're working on raising that significantly so that more aid in a sustained way gets into a Palaestine who needed and Secretary of State Blincoln also met with Palestinian Authority President Mahmuda Bass in the West Bank on Sunday, and Karen is Israeli bombardments continue. Senior US senators are raising growing alarm about civilian casualties. Independent Vermont Senator Bernie Sanders says Israel needs to stop the bombing. Now, you had six hundred over six hundred thousand people pushed out of their homes. Where are they going? They're staying in United Nations facilities overcrowded. This sononof water, do zunonof food, the sononof medicine, not enough fuel. You got a humanitarian disaster. Senator Sanders spoke on CNN State of the Union. White House Deputy National Security Advisor John Finer says he shares that concern, but Israel needs to address the threat from Hamas. Not only does that threat continue to exist, but you can see to see Hamas say that if given the opportunity, they would conduct a version of what they did on October seventh, again, so the threat has not been eliminated. Deputy National Security Advisor John Finer was a guest on CBS's Faced the Nation, which you can hear every Sunday right here on Bloomberg Radio. Well, Nathan, we now turned to the civil fraud trial of Donald Trump. The former president is scheduled to take the stand today. On bloom Bloomberg's Ed Baxter has the story, Donald Trump has made a living touting his worth and business acumen, and today prosecutors will directly question him an open court about what the judge has already ruled their inflated values. His son Eric says his dad is very fired up. He's already been fined fifteen thousand dollars and two fines for violating a gag order, and the past is called the judge unhinged Trump hating radical left democratic operative. In deposition, he called it the greatest witch hunt in the history of the country and called Attorney General Letitia James an out of control prosecutor Ed Baxter and Work Radio, all right and thank you. In geopolitics, Treasury Secretary Janet Yellen and her Chinese counterpart will hold two days of talks in San Francisco this week. It's a step toward more normal ties ahead of a long anticipated meeting between the leaders of the world's two largest economies, Yellen and Chinese Vice Premier Holy Fang, the nation's top economic official, will meet Thursday and Friday. Turning to the markets, now, Nathan A record for Warren A. Buffett is Berkshire Hathaway's cash pile, reaching more than one hundred and fifty seven billion dollars. It was fueled by elevated interest rates and a lack of meaningful deals. Begin more from Bloomberg's Charlie Wells, this feels a little bit like a good and a bad problem. So sort of going, say, as a regular person to the store, having a lot of cash and not knowing what to do with it because you just don't see anything to buy. That is sort of a problem written large for Berkshire Hathaway right now, where a lot of the money that they do have is parked in short data treasuries. They have been really feeling the benefit of the yields there. But for this company that is known from making smart long term investments for acquiring companies that Buffett really believes in This just seems to indicate there's not a lot of value out there right now. It's Bloomberg Financial reporter Charlie Wells who says Berkshire reported operating earnings of more than ten and three quarter billion dollars in the quarter, and meantime, Karen wall Street's looking for another busy week for earnings, and we get a preview of that from Bloomberg's Charlie Pellett. Just over four hundred members of the S and P five hundred index have reported so far, and many US companies have been putting on a better than an expected show for their third quarter results, boosting investor confidence. Nattie lovell Is, Senior US Equity Strategistic, UBS Financial Services, the early season is coming in better than expected, and so we think that the outlook continues to improve. Among some of the names reporting this week, the Walt Disney Company, Armholdings, Biogen, Devin Energy, d R, Horton, Ubs, and Uber in New York. Charlie Pellett Bloomberg Radio, All right, Charlie, thanks, so he turned to the economy now. At Atlanta, FED President Raphael Bostik said policymakers can be patient when it comes to interest rate moves. Today, my outlook is that we're going to stay on that slow and steady and if we continue to do that, then I think where we are now will be sufficiently restrictive to get us to the two percent level for inflation. But there's still a lot that's going to happen between now and even the next meeting. Helena FED President Rafael Bostik made the comments in an interview with Bloomberg. So Michael McKee and catch the entire interview on the Bloomberg Talks podcast and Karen. Elon Musk has revealed his own artificial intelligence bought to challenge chat GPT. It's called Grock and it is the first product from Musk's Xai company. It is now in testing with a limited group of US users. Earlier this year, Elon Musk was among signatories of a petition calling for a pause in advancing AI models in order to allow for the development of shared safety protocols. Time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker, John good Morning, and Karen the Biden Administration providing sixteen point four billion dollars for rail infrastructure projects along Amtrak's busy Northeast quarter. Let's get more in this report from Washington and Bloomberg Steed Podisk. The new funding includes three point eight billion dollars for the Gateway Hudson River Tunnel, which officially began construction Friday. It will benefit twenty five passenger rail projects overall. The money will help to rebuild tunnels and bridges, upgrade tracks, station power systems and signals, and advance projects to increase operating speeds. The Northeast carridor stretching from Boston to Washington, is the most heavily traveled rail corridor in the country, supporting eight hundred thousand trips per day in a region that represents twenty percent of the US economy. Some projects will be finished within the next few years. Steve Potisk, Bloomberg Radio. Federal health officials are expanding in investigation into potentially lead tended pouches of apples in them and fruit marketed for children. The MPDAS received reports of seven illnesses in at least five states. John Eastman says the only thing he could be guilty of is giving bold legal advice to former President Donald Trump. Eastman is one of the nineteen defendants indicted on charges of election fraud and racketeering over alleged efforts to overturn the results of the twenty to twenty presidential election. This is a bridge too far in our criminalization of the law and our criminalization of our political opposition, Eastman spoke on CBS's sixty Minutes. Iowa Governor Kim Reynolds will endorse Florida Governor Ron de Santis for the Republican presidential nomination at a rally in Des Moines today. An endorsement by the pocket of governor would be a win for Dessantis, who struggled to maintain early momentum Donald Trump to right at Reynolds in Dessantis in a post on his Truth social platform on Sunday, saying her endorsement of his rival contender will be the end of her political career. And Benjaminetye, who suspended a far right minister indefinitely from his government after he claim dropping a nuclear bomb on Gaza was quote a possibility. Global News twenty four hours a day, whenever you want it with Bloomberg News now I'm John Tucker, and this he is Bloomberg. Karen. All right, John, thank you. We bring you news throughout the day right here on Bloomberg Radio. But now, as John said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. It is time now for the Bloomberg Sports Update. Here's John stash Hour. John herein the NFL. Sunday began in Frankfurt, Germany, battle of AFC Division leaders, and the Chiefs led the Dolphins twenty one up at a halftime, held on beating Miami twenty one to fourteen. Kansas City seven and two tied for the best record of the AFC with Baltimore. The Ravens fourth straight win was an easy one thirty seven to three over Seattle. The night ended with Cincinnati stayin hot a fourth straight win with the Bengals. They beat the Bills twenty four to eighteen. Joe Burrow through for three hundred and forty eight yards and two touchdowns. Buffalo had a chance to move into a tie for first with Miami. Cincinnati remains a game behind Baltimore. The Commanders first win at New England since nineteen ninety six. They beat the Patriots twenty to seventeen. Sealed the win with a late interception. The Patriots are two and seven. They are one and four at home. C J. Stroud put on a performance in Houston. The rookie quarterback set a record for most passing yards ever by an NFL rookie QB four hundred and seventy yards. He threw for five touchdowns and including the game winner with six seconds left. Houston in a wild one beat Tampa Bay thirty nine to thirty seven. Minnesota is without its starting quarterback, Kirk Cousins. They started a rookie Jaron Hall, then he went out with a concussion, so they put in Joshua Dobbs, who they acquired Tuesday, and he threw a touchdown pass with twenty two seconds left. The Vikings beat the Falcons thirty one to twenty eight. NFCE showdown in Philadelphia, the Eagles beat the Cowboys twenty eight to twenty three. The Eagles are eight and one. John Stash. There were Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Israel's military now says it has Gaza City surrounded and a Hamas base under its control as the ground defensive continues. That' says Secretary of State Anthony Blincoln, wraps up another whirlwind diplomatic trip to the Middle East to try to keep the war from spreading. For the latest, we are joined by Bloomberg Israel Economy and Government reporter Galite Alstein in Tel Aviv, Ghalie. Good morning. First, could you update us on all that's been happening on the ground since then? Yes, Hi, Nathan, as I can so. As you mentioned, the Israeli army is now encircling Gaza City and has also cut the entire northern part of the Gaza Strip from the southern part. Idea of spokesperson Daniel Hagari tells us last night that essentially there is a northern Gaza and a southern Gaza at this time. Last night, the Israeli Army carried out a massive attack on Hama's infrastructure that's below and above the ground, and the Ideas referred to this as a significant operation during which internet and telecom services have been disrupted in Gaza for the third time since the fighting began. Israeli Army reports that they have struck four hundred and fifty targets from the air over the past day. Overnight, they have taken control of a Hamas military compound. They also say that Jamal Mussa, who was responsible for the special security operations of Hamas, was struck and killed by Israeli fighter jets, and Hamas battalion commanders were also killed in battles, and this was on the ground. With these kinds of advances that are being reported by the Israeli military, there becomes the question about whether this war can head into a new phase, perhaps a more tactical phase. Is that the kind of thinking that's being bandied about now in leadership circles in Israel right now. Yeah, so we're not being told everything on the on the ground maneuver. So what we can say though, is that right now the Israeli Army is definitely concentrating on a more precise operation in Gaza city. There right now, I'm basically encircling the very center of the some city and they're tackling what is over there, like I said above, and beneath the ground. There's also very complex array of tunnels that is underneath some Gaza city, and that is a very hard operation to tackle these tunnels, to find the piers, to block them, or to even go inside. So that's I think the big challenge for the ground forces at this time. And along with the reports that Hamas leadership has been killed, we are also hearing continuing reports of a mounting civilian toll as well, and growing concern here in the United States from the White House and Democratic lawmakers about that what impact, if any, is that having on Israel's thinking. So, you know, we were seeing first of all, I think we should mention that the Palestinian deathil is now said to be almost ten thousand, nine hundred, seven hundred and seventy people that were killed in Gaza. And this morning the Idea of announced that it will once again allow safe passage on one of the main roads in Gaza for four straight hours and calling residents in North Gaza to move south for their safe on the humanitarian aid. So we have seen that grow slightly larger than over the past few weeks. Yesterday, seventy trucks that were carrying international humanitarian aid were transferred to Gaza via the Rafa crossing. We've also heard Jordan's King Abdallah the second Stay that his nation air dropped urgent medical aid to a Jordanian field hospital in Gaza City. So Israel is allowing more and more humanitarian truck truck some trucks carrying humanitarian aid to come into Gaza. Still no fuel is allowed to go into the strip. Also, the Rafa crossing has been shut down against after after it was opened for several days late last week for foreigners and dual nationals or injured Palestinians to leave Gaza for the first time since some fighting started. So now this crossing is closed again for people. So the trucks are coming in from for Egypt, but the people are not allowed to leave Gaza. This is after the Israelian military claim responsibility for deadly attack on an ambulance near a hospital, although Israel said it was carrying Hamas fighters and in any case, this has brought Hamas to stop enabling people to leave Gaza through the Rougher crossing. This is Bloomberg day Break Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus, Let's and Coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Sam Bankman-Fried Guilty; Investors take a Bite out of Apple Stock

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 3, 2023 18:49 Transcription Available


On today's podcast:      1) Bankman-Fried Found Guilty of Fraud at FTX Criminal Trial     Jurors in New York found Sam Bankman-Fried guilty of engaging in a massive fraud related to the collapse of his FTX crypto exchange. Bankman-Fried's arrest last December, weeks after his exchange filed for bankruptcy, marked a dramatic escalation in the efforts by regulators and prosecutors to rein in what they perceive as excesses in the industry.      2) Israel Latest: Intense Gaza Strikes as Blinken Lands In Tel Aviv     Hezbollah's leader issued a warning to Israel that the Lebanon-based militant group is ready for “all possibilities,” suggesting the daily cross-border fire between the two could tip into a full-blown war.      3) Apple Warns of Sluggish Holiday Quarter After China Slowdown     Apple Inc.'s disappointing holiday-quarter outlook has cast a spotlight on its mounting problems in China, where the iPhone maker is struggling with the unexpected rise of Huawei Technologies Co. and an increasingly hostile business environment.     FULL TRANSCRIPT:     Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with a guilty verdict for Sam bankman freed. It took a jury less than five hours to convict the FTX co founder of seven counts of fraud and conspiracy. Bloomberg's June Grosso begins our team coverage. It's not a surprise because the evidence against him was overwhelming. And think, what did it is? Sam Bankminfried took the stand in his own defense. And when a defendant takes the stand that way, the whole thing in the jury's mind becomes a credibility game. How credible do they find him? Bloomberg's June Grosso says, Sam bankman Fried faces as much as twenty years in prison on each of the most serious charges. He'll be sentenced in March. Well, Nathan Bloomberg, The legal reporter Ava Benny Morrison, was in the courtroom during the verdict, and she continues our team coverage. Dave was pretty emotionless. He was as to stand up by the judge. When the jury delivered its verdict. He faced the jury box, he held his hands in front of him and it looked like he was tearing down at the floor as the jury. As the fourth person to the jury confirmed guilty to each of the seven charges. He then sat back down. When the jury walked out of the room, he was whispering with his lawyers. He was nodding a lot. While he wasn't very emotional. His parents were. They were holding each other. His dad doubled over at one point. Bloomberg Legal reporter Ava Bennie Morrison reports Bankman's lawyer is considering an appeal may Karen Bloomberg. Business Week investigative reporter Zeke Fox wrote a book on ftx's Crypto roller Coaster, and he says Bankman freed struggled under cross examination. When his own lawyer was questioning him, he had a lot to say, but when the prosecution had there turned a cross examine, he suddenly didn't remember anything and in one moment that was dramatic, I mean, especially for me. The prosecutor asked her, as she asked him about the statement, there was more leeway, and he said, I don't remember saying anything like that. She whipped out a copy of my book, number Go Up and walked it over to him like a hard copy and was like turn to page two twenty four in Bloomberg Business Week, Zeek Fox ads the conviction is the first in a wave of legal action against crypto companies. Nathan now to the other major trial happening in New York, Donald Trump's two hundred and fifty million dollars civil fraud case. The former president's two oldest sons took turns on the witness stand, denying any role in preparing their company's financial records. Afterward, Donald Trump Junior addressed reporters before even having a day in court, I'm apparently guilty uh a fraud for relying on my accountants to do wait for it, accounting. Donald Trump Junior's brother is set to continue testifying today. Their sister, Evonka, will take this stand next week. She lost an appeal to delay her testimony. Well, Karen, we now turn to the war in the Middle East. Secretary of State Anthony Blinken is back in Tel Aviv. We're determined that this conflict not spread, and we'll be talking to both the Israeli government partners in the region about what all of us are doing to prevent that from happening. When Secretary of State b Lincoln's arrival comes as ground operations continue in Gaza. The Hamas run Health Ministry says more than nine thousand Palestinians have died in the fighting. Israel says seventeen of its soldiers have been killed. Well, Nathan, the House has passed the Aid for Israel bill, but Bloomberg's ad Baxter reports and may have a troubled future. This is a victory for House Speaker Mike Johnson, but it looks as if it is dead to become law. Senate majority leader Chuck Schumer has been saying taking funding from IRS enforcement is a bad idea, and President Biden is out saying if it were to hit his desk, he would not sign it. House Speaker Johnson says it will get done. There is absolutely no equivocation here. We have to stay with Israel, and Republican Congressman Tom Cole says there are different paths to get the aid. We have a lot of unspent money. We ought to use that toward a more important purpose and that's his real So the issue is far from settled at Baxter Bloomberg Radio, Okay, and thank you. Turning the market. Shares of Apple are down more than three percent. The world's most valuable company reported its fourth straight sales decline and its warning holiday revenue will be about the same as last year. Angelo Zeno, as senior equity analyst, it's CFRAA research. It's not the most favorable landscape out there for PCs, even though the broader PC landscape appears to have found some sort of putting for the time being. But at the end of the day, the consumer landscape is still very challenging in nature CFAs angelo Zino says. The results also suggest apples facing a deceleration in China. Well Nathan O their stocks on the move this morning. Shares of DraftKings up seven percent. The sports betting operator reported sales and player numbers that beat analyst expectations, Block shares surging more than a ten percent. The Payments Giant run by Jack Dorsey, again boosting its profit forecast for the year, and shares a Booking dropping as much as seven percent in light trading. The company formerly known as Price Lines as travel demand had been diminished by the Israel Hamas war. On the economic front, karen a busy week concludes with the October Jobs report, a preview of that now from Bloomberg's Michael McKee, FED chair j Powell says a tight labor market could lead to another rate move, which means markets will parse the October jobs report trying to determine what it signals. Is hiring still much stronger than what's needed to absorb an increasing labor force. Have higher interest rates led companies to pull back on hiring or even start letting people go. Our companies still paying up to attract workers, While the Fed we'll also see the November payrolls report before its next meeting. Powell says it will take several months of data to make any decisions. Michael McKee, Bloomberg Radio. All right, Nathan, thank you. It is time now for a look at some of the other stories making news around the world, and for that we're joined by Bloomberg's John Tucker, John, good morning, and Karen. Something maybe rotten in the Big Apple. The mayor's fundraising campaign is under investigation. Let's get more on this report from Bloomberg's Michael Barr. Mayor Adams ditched a White House meeting on the migrant crisis and flew back to the city. The mayor explaining his abrupt return, but you probably heard the reports involved in one of my campaign staffers. The staffer is lead fundraiser, twenty five year old Brianna Suggs, whose Brooklyn home was raided by the FBI. Along with the officers of a New York construction firm called KSK, it made fourteen thousand dollars in campaign contributions. The investigation is looking into whether the company, along with Turkish nationals, made in proper donations in New York. Michael Barr Bloomberg Radio Adams was supposed to be with the mayors of Chicago and Denver. It asked Congress to approve President Biden's request at one point four billion dollars to help the cities and states in the migrant crisis. Denver Mayor Mike Johnston, we're both of what wey've done. It's critical for us that this package passes over the next several weeks to get funding to cities, otherwise we'll have catastrophic impacts. The Democratic Mayor's trying to put pressure on the blinded administration to address the humanitarian crisis caused by record crossings at the southern border. The Senate had voted ninety five to one to confirm Admiral Linda Franchetti to be the next Chief of Naval Operations, making her the first woman to be a US military service chief. Set of Majority Leader Chuck Schumer and Admiral Fanchette is an exceptional leader with a distinguished career serving our nation. I'm confident she has the experience, the skills, and the vision to succeed as the US Navy's top naval as the US Navy's top officer. Franchetti's confirmation comes amid a temporary break from a blockade by Senator Tommy Tubberville stalling hundreds of military promotions. Riding high on historic contract wins against Detroit's automakers, UAWT President Sean Fain he is confident he can now take on Tesla and it's anti union chief Elon Musk. In an interview with Bloomberg yesterday, Fan said we can beat anybody global news twenty four hours a day and whenever you want it with Bloomberg News. Now, I'm John Tucker, and this is Bloomberg. Karen, all right, John, thanks, so we bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Karen Weign. I'm in the NFL Underway with an AFC game in Pittsburgh. The Steelers and Titans were tied at ten, then at thirteen. Pittsburgh trailed in the fourth quarter. Ticket in the shotgun gets the snap looks right. Johnson White open tutop Pittsburgh. The Steelers bunched ninety two yards to take Tully. That's the day Johnson's first touchdown and won a couple season tests. Twenty Games TV had the calls. The Steelers beat the Titans twenty to sixteen. Pittsburgh's five and three Tennessee is three and five In Victor Weinberana's fifth NBA game, the Spurs rookie sensations scored thirty eight points. He had ten rebounds. Some highlight reel baskets as the San Antonio Spurs blew a twenty seven point lead but still beat Phoenix won thirty two to one twenty one. Philadelphia's three and one won by fifteen over Toronto. Joel Mbi scored twenty eight. The Pelicans are four to one. They played without Zion Williams from CJ. McCollums scored thirty three and win over Detroit. Orlando won by two at Utah Paalo Bankero scored thirty. The games tonight of the NBA marked the beginning of the NBA's in season tournament. The Bruins are nine to zhoin one. They beat Toronto three two in a shootout. Nelson Cruz announced his retirement at age forty three. Played nineteen seasons. There eight different teams at four hundred and sixty four home runs as expected World Series ratings, the lowest ever one hundred and thirty baseball players will be free agents. Heading the list show AO Time John Stanshaur Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam. The Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. Guilty on all counts. After a month long trial, Sam Bankman Freed is convicted in one of the biggest cases of financial fraud in decades over the collapse of his FTX crypto empire. For more reaction to this outcome, we are joined now by Bloomberg Law host June Grosso. It's good to have you back with us this morning. Of course, this came after more than fifteen days of testimony that this jury heard. In the end, though it did take only about five hours for those jurors to come back with a verdict. Your thoughts, Yeah, it was a very quick verdict. I think that the evidence of this case was overwhelming. The prosecution had not only documents that they could present, but they also had three insiders, three witnesses who were close friends of Bankment Freed, one a former girlfriend of his, who were in on the process, in on what happened, and they testified, and their testimony was very you know, conclusive, and the cross examinations really didn't expose many holds in their testimony. And you also had the fact that Sam bankmin Freed took the stand, and when a defendant takes the stand, the focus for the jury then becomes the credibility of that defendant. And while he did pretty well on direct examination, on cross examination, the cross exit nomination was just withering and he said I don't know, or words to that effect more than a hundred times. So I think that in this case, he's taking the stand, which was a risky move. Everyone knows that it's a risky move for a defendant to take the stand, and it worked against him. Here, was that the biggest mistake that Sam Bankman Freed made to take the stand? Or is there something more that he could have done to try to rebut that testimony from as you say, what used to be his closest friends, his inner circle, Well, you know, it's hard to say. I don't want to characterize it as a mistake really because I don't know that he had any other choice. The evidence against him, as I said, was building, building, building. He had those those witnesses who turned against him, and really, what else could he have done but take the stand. He really had no other recourse. It was sort of forced on him as the trial was going on, the question will he take the stand or not. And the analysis was, well, he has the kind of personality to want to take the stand. I mean, look at all the times he's talked in the media, but everyone knew that on cross examination he was going to be confronted with not only the testimony of the three people who were closest to him at FTX and Alima Research who turned on him, but also all the statements that he made, all the times he talked to the media about FTX after the bankruptcy. So but what else could he do? It was it was a hail Mary pass and he took it. But you know, the choice was really there wasn't really wasn't much choice because it was so overwhelming at that point that you know, he had to take the chance. And there was, as you mentioned, so much overwhelming testimony against him before the standard. Even before that testimony, I mean, he lost a number of pre trial motions that kept him from calling expert witnesses. And of course there was that moment even before he was allowed to testify before a jury, where he got on the stand in front of the judge to argue for being allowed to testify about advice from his lawyers. So I mean, he had a number of hands tied behind his back, didn't he. Yeah, I think you know so many of the motions, every big one that I can think of. The judge ruled against him, and in particular, he was on the stand, as you mentioned, about three hours testifying before the judge, so the judge could decide whether or not he could get use an advice of council defense and that was really critical to his defense his lawyers, and he wanted to say that what he did he did because he was relying on the advice of his attorneys, and the judge said that he could not do that. I mean, the judge even ruled before trial that they couldn't use that, they couldn't talk about that in their opening statements to the jury. And then then he had those three hours on the stands where the judge decided that he couldn't use that and he couldn't talk about that in front of the jury, and that was really a hit on his defense. And if you go back, I mean even before the trial, the judge, as you mentioned, said that he couldn't use expert witnesses, and the judge threw him into jail after he had communicated with the press, and that was really a surprise too, because he had a huge bail package and the defense was coming in to agree that day to a gag order. Instead, the judge decided that he was going to throw him into jail weeks before the trial, and that really puts a strain on the defense in more ways than one. I mean, not only did he not have his adderall when he was in jail, not have the right dose of it, but he's a vegan and he didn't get the kind of food he eats. He didn't get the kind of food at the Brooklyn Detention Center, so everyone saw that he lost a lot of weight when it came to the courtroom. But more than that, it's very difficult to prepare for trial when you're behind bars and your lawyer has to make appointments to meet you, and you don't have access to all the documents and you know, the internet and the things you need. So it really was an uphill battle for him from the very beginning. And so we've had this uphill battle go on for just about a month. After a relatively quick jury decision, we are expecting that Sam Bankminfried and his lawyers are going to appeal this verdict. How do you expect that to go? Now, Well, you know, they have a lot of issues that they can appeal on, and they're the ones that I was just talking about, the judge turning down the advice of counsel and the expert witnesses, and I'm sure they have a lot more from what happened at trial, but it's it's very difficult to get a conviction reversed on appeal. It happens, but it's very difficult because a lot of these decisions are what they say, you know, in the discretion of the judge, and the appellate court won't touch a lot of a lot of these decisions if they feel that it was in the discretion of the judge and that these may all fit in that category. So you know they will. They do have a lot to talk about, They do have a lot to raise on appeal, but you know, it's another uphill battle for him. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feat at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Biden Calls for Pause in Gaza; Powell Hints Fed's Done; George Santos Survives

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 2, 2023 16:39 Transcription Available


On today's podcast: 1) President Joe Biden said Israel and Hamas, a militant organization designated a terrorist group by the US, should “pause” fighting to allow time to free more hostages from Gaza. Israel says that 17 of its solders have so far died during battles in the Hamas-ruled enclave. 2) Federal Reserve Chair Jerome Powell hinted the US central bank may now be finished with the most aggressive tightening cycle in four decades after it held off on raising interest rates for a second consecutive policy meeting. 3) Apple will deliver its fiscal fourth-quarter results on Thursday, giving investors the first indications of how the new iPhone 15 is selling. 4) An attempt by fellow New York Republicans to expel Representative George Santos from the US House fell short on Wednesday night.  5) In sports, the Texas Rangers Win First World Series Title and legendary basketball coach, Bobby Knight, has died at the age of 83.    Full transcript here:Good morning. I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest developments in the Middle East. President Biden says Israel and Hamasa should pause fighting to allow time to free more people from the Gaza Strip. Speaking in Minnesota, the President responded to a protester who demanded a full ceasefire. The United States are going to continue to drive humanitarian support pretas and people on Gaza who need help, and they do need help. We're going to continue to affirm that Israel has the right to respond responsibility to defended citizens from terror, and it needs to do so on a manner of those consistent international and humanitarian law. The presidents also hailed international efforts to open the Rafa border crossing, which allowed hundreds to leave the territory yesterday. Hamas says six hundred more are expected to leave today, including four hundred American citizens. Well, Nathan, we now turned to politics back home. Another attempt by fellow New York Republicans to expel Representative George Santos from the House fell short last night, and Bloomberg's Amy Morris has details from Washington. George Santos is indicted on fraud charges and accused of misconduct. The vote to remove him requires two thirds majority. House Speaker Mike Johnson argued that an expulsion should be contingent on a criminal conviction or some official finding of ethical misconduct. Santo says the vote was a victory for due process. I feel like due process is still alive. I feel like there's enough colleagues on both sides of the aisle here who understand that this was the second time Santos survived in expulsion vote. On Tuesday night, the Ethics Committee said it would reveal its next course of action by November seventeenth, regarding its inquiry into allegations of misconduct in Washington. I Mamy Moore as Bloomberg Radio, all right, Amy, thank you. Meanwhile, the civil fraud trial against former President Donald Trump has reached a key moment. The former president's oldest son has taken the stand. Donald Trump Junior told the judge he was not involved in preparing financial statements for his father's company. In his words, the accountants worked on it. New York Attorney General Letitia James accuses Trump and his two eldest sons of inflating asset values by billions illegal profits. Trump juniors do back on the stand today. The former president is set to testify on Monday. Well, Nathan, we have another big trial in New York and nearing its and jury deliberations could begin as soon as today. In the fraud trial of Sam bankman Fried Bloomberg, the legal reporter AVA Benny Morrison was in the courtroom for the closing arguments. Bank Munfree lawyer Mark Cohen has tended to use metaphors and his jury addresses in this trial, and he suggested that the government had wrongly painted Sam as a villain, as a monster in a Hollywood film about a grand fraud scheme. He said that certainly wasn't the case. Yes, at one point his client was probably the worst dress CEO in the country and had bad hair. To anyone and everyone, including journalists, had a messy life, but that wasn't a crime. And Bloomberg's eva, Bennie Morrison says macbin Freed is charged with seven counts of fraud and money laundering following the collapse of his ftx cryptocurrency last year. Karen, let's now turn to a busy day for the markets. Investors are still reacting to what appears to be a douvish pivot by j Powell. After holding rates steady for a second consecutive meeting, the Fed chairman hinted the central Bank may now be finished with the most aggressive tightening cycle in four decades. Jeffrey Rosenberg is a senior portfolio manager at black Rock. Clearly what the market saw was a preference for the worry of tightening financial conditions. We're at sufficiently restricted, we could be done, black Rocks. Jeff Rosenberg notes, following the Powell news conference, a ten year treasure yield tumbled below four point seventy five percent for the first time in two weeks. Still following this morning now at four point seventy two percent, and Nathan, we also get a policy decision overseas this morning. Economists expect the Bank of England to hold rates for a second consecutive meeting. Turning two earnings, shares of Shell are higher by two percent. Third quarter profit rows on a combination of higher energy prices, strong gas trading, and wider refining margins. The oil Jeff is also accelerating the pace of share buybacks well. Staying in Europe, Nathan. Barclay's is embarking on a plan to reduce its global workforce, but the British bank is planning to spare its Asia business from the bulk of job cuts. We spoke earlier with Barclay's CEO cs vn Kada Krishnan. In Asia, we of course have very booming economies and we also have a very growing business, so proportionately it's far less likely to impact this region. However, Barclay's CEO cs Van Kate Krishnan added that it would be ambitious for the bank to consider expanding into Wealth and China, and should instead focus on doing better in the UK. Let's turn back here to the US, Karen, because investors here are awaiting earnings from the world's most valuable company, Apple. It reports this afternoon, and we get a preview from Bloomberg's Tom Busby. Apple's iPhone fifteen lineup released on September twenty seconds, just about a week before the quarter rented, but the company will give investors early sales data on the new fifteens, hoping the show that it's off to a rate start ahead of the all important holiday season. Bloomberg consensus calls for Ernix per share of a dollar thirty nine revenues of eighty nine point three four billion, about half of that from smartphones. Tom Busby, Bloomberg Radio. All right, Tom, thanks well. Disney reports earnings next week, but it is making news this morning. The company is moving to take full control of the Hulu streaming service. Begin more from Bloomberg Stunt Risner. Complete ownership helps integrate Hulu into the Disney Plus streaming service, and now co owners Disney and Comcast must arrive at a price. Under a twenty nineteen deal, the two agreed Hulu would be worth no less than twenty seven and a half billion dollars. Where might the money come from. Disney could sell legacy assets like ABC and CEO Bob Iger is open to selling a minority stake in ESPN. In New York Time. Doug Prisoner, Bloomberg Radio, Nathan, Thanks. It is time now for a look at some of the other stories making news around the world. For that, we're joined by Bloomberg's Amy Moore. Amy, Good morning, Good morning, Karen. Republican senators angrily challenged Senator Tommy Tubberville on his blockade of almost four hundred military officers taking over the Senate floor for more than four hours to call for individual confirmation votes after a month's long stalemate. Republican Dan Sullivan of Alaska warned of dire quants consequence by the way Shujinping is watching us right now, going, I can't believe they're not letting these guys command. I'm scared the death of subs. Senator Sullivan says if the standoff continues in officers do leave the military, Tuberville's BLOCKABE will be remembered as quote non national security suicide mission. The House could vote today on a bill providing aid to Israel. It's the first legislation under the new House Speaker Mike Johnson. But Johnson's bill would not only uncouple the aid to Ukraine that the Biden administrator wanted, but also would redirect funding already earmarked for the IRS. West Virginia Senator Joe Manchin says, that's a state. There's no human being. No business can amass the amount of debt that we have and be successful. You just can't do it. So we have to get our dead under So anything we do should be concerned about the debt. But right now we're fighting to survive, and Republican Lindsey Graham says without funding for Ukraine, the bill just won't make it through the Senate. Hama says almost six hundred more foreigners and dual nationals, including four hundred American citizens, are expected to leave Gaza today. That would be the second batch to exit since the border with Egypt was opened yesterday. We get more with Bloomberg. To Oliver Crook in Tel Aviv, we had two categories of people that were allowed to leave Gaza and go into Egypt. The first wee the wounded Egyptian ambulances carrying some Palestinians out who had been hurt during the fighting and during the bombardments. They're being treated in a field hospital in the northern Sini. But the second are the foreigners that are now being permitted to cross over. Bloomberg's Oliver Crook tells us there are about one thousand US citizens in Gaza, and four hundred of them be permitted to leave. Today. Global News twenty four hours a day and whatever you want it with Bloomberg News now, I maybe Morrison, this is Bloomberg. Karen, all right, Amy, thank you, while we bring you news throughout the day right here on Bloomberg Radio. But now, as Amy said, you can get the latest news on demand whenever you wanted. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News noow on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Yarn. The Texas Rangers are World Series champions for the first time, and they did it by doing something that may never be done again. They won eleven to zero on the road in the postseason. They just won their third straight game at Arizona. It was five to nothing even though the Rangers didn't get a hit until the seventh inning off Zach Gallen. They score running the seventh and then got four more than ninth. Nathan Evaldi worked out of trouble. The Diamondbacks had runners in scoring position in each of the first five innings, but if Aldi finished the postseason going five and zero. Corey Seeger was the MVP, as he was when the Dodgers won the World Series three years ago. A couple of things about Bob Knight's life undeniable. Massively successful as a college basketball coach at Army Indiana and Texas Tech. He won over nine hundred games, three national championships. His team in nineteen seventy six, still the last to go undefeated. Also undeniable, the demons that led Knight to throw a chair during a game choked the player in a practice, he grabbed the arm of a student who called him by his last name. That led to his departure at Indiana. Bob Knight passed away at the age of eighty three. The Celtics are undefeated. They scored one hundred and fifty five points, the most in a game since nineteen fifty nine. They beat the Pacers in Boston by fifty. The Wizards lost in Atlanta one thirty to one twenty one. The Warriors on a Klay Thompson shot. If the Buzzer top Sacramento by a point, shocks dash that our Bloomberg sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business app and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. As the Israel Humas war continues, President Biden is calling for a pause in fighting. That's so more people can be allowed to be released from the Gaza Strip to be moved out of harm's way. This is as Israel faces some wavering support for its ongoing ground effort from parts of the global South. And for more on all this, we're joined by Roslind Mathis and Bloomberg's news director for Europe, the Middle East and Africa. Roz, Good morning. Can you get us updated first off on how the effort to get more people out of harm's way is going well? As you say, it looks like they might get another six hundred or so people out today. That was after they are about eighty people who could leave across that crossing called the Rougher crossing between Gaza and Egypt yesterday. But these are mostly either people who are elderly and wounded in need of urgent medical care, but also those who are holding a foreign passport, so they've got passports from Australia, Asia, the US and elsewhere. And it's a really small number of people In the end, when you think about the number of people who are currently bunched up inside Gaza, many of them have moved further south towards that crossing, but they don't have any means to leave at the moment. This is really just those people who have foreign nationals or in need of very very urgent medical care. And what we know is that the attacks inside Gaza are continuing. The Israeli forces are pushing further towards Gaza City, which is the very very high density area, and that's going to lend itself towards staor to door combat. In the end, we know the aerial strikes are continuing. After those attacks on the refugee camp in recent days. Israel says it was striking Hamas there because they say that Hamas is using those refugee camps as strongholds. But it looks like Israel is moving towards an approach of effectively severing Gaza into so separating North Gaza from the south. That's going to push people even further towards the south and bunched up towards the Rougher crossing. But it's really only just a handful of people so far getting out, and I guess it would make it that much harder to tell whether the people that are being allowed to leave Gaza at this point are some of the hostages that Israel says Hamas is still holding a number of hostages that seems to be steadily rising day by day. Well, that's right, and just reflects the overall confusion. Really in a wartime, it's very difficult to get clear information. And what we know is that bit by bed it seems that they are, in fact even more hostages than were initially known about, are scattered in different areas of the Gaza strip, and the negotiations are continuing via intermediaries. Katar and others are involved in that, but it doesn't seem like they're making major progress towards the whole release of the rest of those hostages. Again, it's very much a trickle, if any. And so what you've got is that situation of only a few people coming out of Gaza, limited aid going in, and a real clear sense, especially from Egypt on that border crossing, they don't want hundreds of thousands of people coming their way. Yeah, it sounds like a trickle both ways of people moving out and AID moving in. And as this effort continues, we are starting to see a little bit more erosion for support for Israel, particularly from Jordan and some left just leaders in Latin America. What does that tell us about how support for Israel could continue as this effort goes on. Well, as you say, we're seeing greater noises from countries and what we often call together collectively the Global South, at some nations in Africa, in Latin America, in Asia and so on, including sort of Muslim majority nations Malaysia and Indonesia in Asia, and just strong expressions of concern about the situation inside Gaza. And against that, you've got countries in Europe, in the US still sort of issuing strong statements of support for Israel in the aftermath of what was a shocking attack on Israel on October seven. But equally then you even had the US President Joe Biden yesterday saying that he's in favor of what he's calling a pause in the fighting. What these countries seem to be calling a pause or a halt or a temporary something, any word to use other than saying the word ceasefire, which is politically very difficult, But even they are saying it because they're seeing the level of the impact inside Gaza, and so as time goes on, if this conflict really does go on for weeks and months, as Israel is indicating, and the humanitarian cost of that increases in Gaza, you'll only see more and more people potentially moving away from that overt level of support for Israel. This is Bloomberg Daybreak Today, your morning brief on the story's making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus listen coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot com. I'm Nathan Hager and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
Israel Strikes Refugee Camp in Gaza; AMD Stock Falls

Bloomberg Daybreak: US Edition

Play Episode Listen Later Nov 1, 2023 16:36 Transcription Available


On today's podcast: 1) An Israeli strike on a refugee camp in Gaza overnight killed and wounded hundreds of people, according to the Health Ministry in the Hamas-run territory, and drew condemnation from across the Middle East. The development came ahead of a regional trip by US Secretary of State Antony Blinken. 2) The Federal Reserve is poised to hold interest rates steady at a 22-year high for a second meeting, while leaving open the possibility of another hike as soon as December with economic growth staying resilient. 3) AMD said a new AI chip will generate $2 billion in sales next year, fueling optimism that demand for the component will offset a slump in orders for video-game equipment.   Full Transcript:Good morning. I maybe Morris and I'm Karen Moscow. Here are the stories we're following today. We begin with new developments in the Middle East. Israel struck a refugee camp in Gaza overnight. Israel Defense Forces spokesperson Daniel Huguri says it was targeting Hamas and killed a senior leader in that organization. So tonight we eliminated the murderous terrorist, Ibrahim Bari. Bari is the main combat leader in the northern Gaza strip since the IDF forces entered Gaza. He also had a part in the massacre on October seventh. During his assassination, many terrorists were killed, terrorists who stayed with him in the building and in the underground area below the buildings. IDF spokesperson Daniel Hugari, speaking through an interpreter, the latest strike is drawing condemnation across the Middle East. We get more from Bloomberg's Oliver Crook and Tel Aviv. What this does is it's going to bring into the four again those voices that have been calling for a ceasefire, the voices that have been condemning Israel's actions and the ceasefire calls by the Saudis and by the UN have been retorted to by Benjamin Nyaw, who has recently this weekend completely off the table. Bloomberg's Oliver Krok reports the Health Ministry and the Hamas run gaza strips, as hundreds were killed and wounded in those strikes well amy before the overnight strike, Secretary of State Antony Blincn told the Senate it was too soon to call for a ceasefire. When it comes to a ceasefire in this moment, You're exactly right. That would simply consolidate what Hamas has been able to do and allow it to remain where it is and potentially repeat what it did another day, and that's not tolerable. Secretary of State Antony Blinkin will travel back to Israel on Friday. The White House says President Biden would veto a package put forward by House GOP members to provide aid to Israel by slashing funds for the IRS and leave out funding for other national security priorities. The legislation, championed by the new House Speaker Mike Johnson, is already run into stiff bi partisan opposition Senate Majority Leader Chuck Schumer. We must stand with our allies in Israel. We must send humanitarian aid to innocent civilians in Gaza. We must hold the line against Vladimir Putin by supporting Ukraine. Senator Schumer says Democrats want to pass President Biden's one hundred and five billion dollars supplemental package, which includes funding for Israel, Ukraine, Taiwan, and the Southern border well. Another geopolitical news this morning, President Biden will meet with Chinese leader Shijin Pain later this month in San Francisco, and Bloomberg's Ed Baxter has the latest. White House spokeswomen Karine Jean Pierre, was asked several times at the daily White House briefing. She finally said it was an official confirmation and says it will be a difficult conversation. That's what the President is going is going to be doing and having a tough conversation, but important conversation. Jean Pierre would not go into details on expectations it will be on the sidelines of APE here in San Francisco. China has not commented on the meeting in San Francisco. I'm at Baxter Bloomberg Radio. Thank you, Ed, and turning to the markets, we kick off a new month with a big day on the economic front. It begins with the Treasury Department's new borrowing plan and finishes with a FED decision and a J. Powell news conference. We get a preview from Bloomberg's Michael McKee. It figures to be a long day on trading desks. First up, the Treasury announces its refunding plans for the quarter. It plans to borrow a record seven hundred and seventy six billion dollars between now and the end of the year. Today we find out the mix of bills, bonds, and notes and how much of each it will sell. The record borrowing may spark a lot of market volatility. Refunding is followed by the Fed. While no one expects a rate move, investors will be focused on the possibility of one at future meetings. Will Chairman J. Powell take that off the table another opportunity for market moves? Michael McKee, Bloomberg Radio. Thank you Michael, and stick with Bloomberg this afternoon for our FED Decide special starting at one thirty pm Wall Street Time on both Bloomberg Radio and television. While we head overseas to Asia. Now, the Bank of Japan I expectedly stepped into the bond market, trying to curb the pace of gains and sovereign yields. The move comes just today after announcing it was loosening its grip on debt prices and on the equity front. Some tech earnings in focus. We got a mixed picture from Advanced micro Devices. The chip makers sales forecast fell short of estimates. The company says a new AI chip will generate two billion dollars in sales next year. Shares of AMD are down almost two percent in early trading, and for Surrepta, shares of the biopharma company are plunging about forty six percent this morning. Amy The drop comes on news at its trial with partner Roche of a gene therapy for muscular dystrophe failed to meet the main goal of a study. Another company tumbling this morning, we Work. Shares of the co working space company are down now forty three percent in pre market trading. The Wall Street Journal reporting we work as planning to file for bankruptcy as early as next week, and now we want to bring you up to date on the fraud trial. As Sam Bankman free, he spent the day on the witness stand yesterday began more from Bloomberg's Miss Lena at Golf of Pulo in New York. We must say that it was a tough run for SBF under questioning from federal prosecutors who really grilled him on the witness stand and got him to admit on some of the most important allegations in this case, including the fact that there was no proper hedging in the two companies that he was managing, including the fact that he was the one who signed off on a lot of their decisions, and also the fact that he was the one who made the decision to spend billions of dollars in investments through the hedge fund Alameda Research. And that's Bloomberg's mister Lena golf of Polo, who says jury deliberations may begin later this week. Five oh, It's time now for a look at some of the other stories making news around the world. For now, we're joined by Bloomberg's John Tucker. John, Good morning, Good morning, Karen. President Biden age to Minnesota today. The state is a microcosm for the issues currently bideviling his presidency. Let's get more from Bloomberg Jeff Bellinger, Mister Biden is struggling to unite a Democratic electorates trained by his full throated support for Israel. At the same time, he is suddenly fending off a long shot primary challenge from Dean Phillips of Minnesota that highlights voters' concerns about his age. It's a blue state that Republicans have long considered ripe for flipping. Minnesota has a young, diverse Democratic base and a large number of Muslim Americans. The trip is intended to highlight the Biden administration's investments in rural communities. Jeff Bullinger, Bloomberg Radio. The MBI says is closely monitoring serious and evolving threats against the US as the Israel Hamas war grinds on. At the EI director Christopher Ray, the reality is that the terrorism threat has been elevated throughout twenty twenty three, but the ongoing war in the Middle East has raised the threat of an attack against Americans in the United States to a whole nother level. During a meeting of the Senate's Homeland Security Committee, Rate said the most immediate concern is that violent extremists will draw inspiration for the events in the Mid East to carry out attacks against the US. A junior at Cornell University has been charged with making death threats online to Jewish students in an incident that Royal to campus battling anti semitism. Twenty one Europatrick Davis charged with posting threats. Anti Semitic incidents have soared since the Israel Hamas War began October seventh, and the conflict has bitterly divided dozens of campuses, including Harvard, Stanford, and the University of Pennsylvania and of Helder. Jury's verdict threatens to shake up the real estate industry. A jury found the National Association of Realtors is liable for one point eight billion dollars in damages for controlling the Multiple Listing Service, or MLS, and for requiring home sellers to pay both the buyer and seller brokerage fees at a single transaction. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now. I'm John Tucker, and this is Bloomberg Karen. All right, John, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update. Here's John stash Hour John Karn. Game four the World Series at Arizona. The Texas Rangers scored five runs in the second and in five more in the third. They led ten nothing held on to win over the Diamondbacks eleven to seven, and the Rangers now lead the series three games to one. They can win the first championship and franchise history in Game five tonight. Arizona did come from three to two down in the NLCS against Philadelphia's seven teams have come back from a three to one deficit in the World Series. Marcus Simmion last night two run triple, then a three run homer. Corey Seger homer for the third time in the series. NBA and Phoenix. The Spurs were down by twenty. Keldon Johnson stole the ball from Kevin Durant hit a driving layup with a second to go gay San Antonio its first lead of the night. The Spurs beat the Suns one fifteen to one fourteen shake up in Las Vegas. The Raiders are three and five and they have fired Josh McDaniels midway through his second year on the job. General manager Dave Ziegler also fired the Raiders three and five, nine and sixteen under McDaniels, who had great success as the Patriots offensive corindera but has now been fired as a head coach twice by AFC West teams. Antonio Pierce will be the interim Raiders head coach Sunday. It'll be actually against his former team, the Giants. We've heard for the first time for the college Football Playoff off. The rankings have Ohio State number one. Buck Guys had the winds over Notre Dame in Penn State, Georgia's rank two, then Michigan, then Florida State. Johns dashedward. Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg Business app in Bloomberg Dot com. This is Bloomberg Daybreak. Good morning, I'm Amy Morris. After a barrage of air strikes by Israel in Gaza. Israeli forces say they've assassinated the architect of the October seventh terror attack, and Palestinians say hundreds of civilians were killed or injured in those strikes. We're joined now by Bloomberg's Gale to Alstein and Tel Aviv. This latest airstrike has drawn condemnation across the Middle East. Does this create a greater risk of the expansion of this war through the region? Yes, some good morning, so yes, we are seeing that there's quite a big operation going on in the Jabalo or refugee camp. This is, by the way, both an Areel attack and the ground attack that is being carried out by Israel. This is the most crowded refugee camp in the world. It occupies one hundred and thousand people and roughly one and a half square kilometers the Ideas. The Israeli defense forces say they killed fifty Hamas militants there. Hamas Sam and the health ministry in Gaza that is run by Hamas reporting a larger number of casualties over there. Basically, the Israeli Defense Forces say that this the military stronghold that is located in western Jebala was located there was used by the commander of Hamasas Jabelia Battalion for the training and the execution of terror activities and contained firing positions and terror tunnels and also a large stock of weapons. So that's what we know about what happened there. And another bit of news that we're getting now that the Alka Sama Brigades they belong to Hamas, they announced the killing of seven of its civilian detainees, meaning the hostages. They say that they were killed also in Jabalia yesterday, including three holders of foreign passports. This has not been verified otherwise, but this is what they are saying now on Palestine TV. So that's what we know that is going on on the ground. Now. We have not seen any you know, further response other than the rhetoric that you've mentioned, but of course this is something I'm to still follow. You mentioned the hostages and how they are reporting in Palestine that they are killing the hostages. What's the latest on the negotiations to freedom? So yesterday we heard the head of Israel's National Security Council TEGB and he said that as far as Israel can say and report, at this time, there is no hostage negotiation. There's no deal that is in the near horizon at least that's what That's what he said. He he also mentioned that Kata and that's according to him, has has realized that Hamas was misleading them quote unquote. So according at least to Israeli officials, you know that that we're only went on the record yesterday. There is no deal in sight at this time. There are also the developments on the border crossing from Gaza into Egypt. We are learning now that foreigners and some wounded Palestinians are being allowed to leave Gaza for the first time since the Israel began the ground invasion. What are you watching for? What should we be watching for on that? Yeah, so this is an interesting development that is happening this morning. We're seeing foreign passport holders begin to exit Gaza into Egypt through the Lafa crossing. This is, like you mentioned, for the first time I think actually since Israel began its aerial attacks on Gaza or in October. And this is according to footage that is being shown and streamed on several media outlets. HAMASA did say earlier that it expects some foreigners and dual nationals to be allowed into Egypt, including Red crossworkers and nationals from Australia, Austria, Jordan, and Indonesia. And we've also been getting reports that eighty wounded Palestinians will be transferred for treatment in Egypt. And it's interesting because we have been hearing Israeli officials ask that more wounded Palestinians be taken to hospitals outside of the Gaza Strip in Egypt. Also field hospital that is planned to be set up near the border, as well as maybe some floating hospitals that will be coming into the area from countries like France and maybe others. And this is basically meant to take pressure off Israel to let fuel into Gaza, since Israel claims that Hamas has fuel and that the fuel it has facilitated not only hospitals but also underground commands and tunnels, and Israel wants to create pressure, you know, on these places. They want to move as many wounded Palestinians outside of the Gaza Strip so that you know, if the fuel runs out that it used to facilitate these underground command centers. Then eventually these commas militants are going to have to come out as well. You're listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time, on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot Com. I'm Amy Morris and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg day BreakSee 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Bloomberg Daybreak: US Edition
Netanyahu Says No Cease-Fire; New Apple Macs and PC Chips

Bloomberg Daybreak: US Edition

Play Episode Listen Later Oct 31, 2023 16:43 Transcription Available


On today's podcast: 1) Israel's Netanyahu Says there will be no cease-fire. Israel struck more targets in Lebanon and Syria overnight, while stepping up its ground operations in Gaza. 2) GOP House members are breaking with President Biden on a $14 Billion Israeli aid plan. The package separates the Israel aid from a broader Biden emergency funding request that includes assistance for Ukraine and Taiwan. It also leaves out humanitarian assistance for civilians in Gaza and Israel that the White House requested.3) Apple is unveiling new laptops, iMacs and more powerful chips. The iPhone maker is rolling out a first-of-its-kind M3 chip that boosts performance and graphics horsepower.     4) The Detroit Lions beat the Las Vegas Raiders on Monday Night Football after a weak performance from wide receiver Davante Adams.     FULL TRANSCRIPT:     Good morning. I maybe Morris and I'm Karen Moscow. Here are the stories we're following today. We begin with the latest on the war in the Middle East. Israel has struck targets in Lebanon, stepping up its ground operations in Gaza. This latest military action comes as Prime Minister Benjamin Netanyahu rules out a cease fire and dismissed calls for him to resign over security failures that led to the October seventh Thamas attack. The only thing that I intend to have resign is Kamas. We're going to resign them to the dust benef history. That's my goal, that's my responsibility, and that's what I'm leading the country to do. Prime Minister Benjamin Netanyah, who says more than fourteen hundred Israelis were killed in that attack, the largest loss of Jewish life since the Holocaust. Well Amy Netanyah, who made his evening address in English Bloomberg's Oliver Crook is in Tel Aviv and has more on Netanyahu's message to the international community. The point that he was making was one that we've heard many times for the Prime Minister, a question of moral clarity in making the distinction between the deliberate murder of innocent and the unintentional casualties that accompany any war is what he says. And of course those casualties have exceeded now, according to the Gazen authorities, more than eight thousand people. And that is the big question internationally, where is the limit to self defense? On the question of ceasefires, he says, you wouldn't have asked for a ceasefire after Pearl Harbor or nine to eleven. That a ceasefire is a call for surrender for Israel is what he said. And regardless of who stands with Israel, he says, he's going to continue on this battle. And bloombergs Oliver Kuik, reporting from Tel Aviv, says authorities in Hamas run Gaza say the death toll since the war erupted has surpassed eighty three hundred and back here at Home, Defense Secretary Lloyd to Austin and Secretary of State Antony Blincoln will make the case that the United States should immediately send aid to both Israel and Ukraine. They'll testify at a Senate hearing. As House Republicans are taking their own path on aid to Israel. Bloomberg's Ed Baxter has that story. The Republicans introducing a fourteen point three billion dollar aid plan. The package separate it's Israel aid from a broader Biden emergency funding request that include Ukraine and Taiwan aid. We'll have to see what the Speaker will do now. It pays for the Israel Aid by cutting the Biden Inflation Reduction Act calling for a fourteen point three billion dollar reduction in funding for the IRS. This complicates the process to get anything done on this, as Democrats in the Senate and the President himself feel very strongly about that funding. Ad Baxter, Bloomberg Radio. All right, and thank you well. Turning to the markets now, the yen is falling the most in two months after the Bank of Japan made only minor changes to its policy settings, and that's disappointing some in the market who had expected more. The central Bank kept its camp on long term yields at one percent and left its negative interest rate untouched. Staying in Asia, China's factory activity fell back into contraction in October. Bloomberg Daybreak Asia anchor Brian Curtis has more from Hong Kong. The official PMI fill to forty nine point five in October, the estimate at fifty point two. In addition, an expansion of the services sector unexpectedly eased. The reading suggests the economy remains fragile and needs further support. The non manufacturing gauge declined to fifty point six from fifty one point seven in September, also lower than forecast. The numbers are skewed due to an eight day holiday at the beginning of the month, but let's not quibble. Demand remains weak. In On Kong, Brian Curtis, Bloomberg Radio, All right, Brian, thank you well. In corporate news, Apple has unveiled new iMac and laptop of models and the third generation of its in house processor line. The tech giant says the new chip will make its MacBooks more powerful and retain their battery life. Begain more from Bloomberg's executive Global Technology editor Tom Giles in San Francisco. What they're trying to show is that the new line of chips that they've just unveiled, the M three, is a kind of chips that's faster, more powerful, and at the same time more energy efficient. So what they're trying to do is they're using this new chip to breathe life into their their Mac product line, and Bloomberry's Tom Giles says Mac sales or forecast to climb about five percent in the holiday quarter, and staying on the tech theme, X, the platform formerly known as Twitter, is worth less than half of what Elon Musk paid for a year ago. More from Bloomberg's Charlie Pellett. The source tells Bloomberg restricted stock units awarded to employees value the company at nineteen billion dollars or forty five dollars a share a year ago. Musk bought Twitter for forty four billion dollars. Since the takeover, most of Twitter's staff was laid off or resigned. Musk renamed the company X, changed some of its content rules, and has since lost more than half of its AD revenue in New York. Charlie Pellett Bloomberg Radio. All right, Charlie, thanks now to the latest on the Sam Bankman freed fraud trial. The co founder of f TX took the stand again yesterday, telling a New York court he was aware Alimeter Research did not take steps to properly hedge risks. He is charged with approving the transfer of billions of FTX customer dollars into Alameter for investments, political donations, and real estate before both companies collapsed. Turning to earnings, thirty companies in the S and P five hundred will report today. Heading the list Pfizer, Caterpillar, and Amgen. Shares of Pinterest are up more than sixteen percent. In early trading, the social networking company reported third quarter results that beat estimates, and in Europe Amy shares a BP are falling there down more than five percent. Profitfel short of estimates as weak results in gas marketing offset a strong performance in oil trading. Like its big oil peers, BP's earnings were well below last year's record levels high by which were high by historical standards, as geopolitical tensions kept energy prices elevated. Ten time Now for look at some of the other stories making news around the world. For that, we're joined by Bloomberg's John Tucker. John, good morning and good morning, Karen. The White House says there's been a rise in anti Semitic incidents at schools and on college campuses nationwide following the Israel Hamas war. Among the latest officials at Cornell University, heay the FBI has been notified about online threats of violence directed at the university's Jewish Center. White House Press Secretary Cringe Jean Pierre, There's no place for hate in America, and we condemn any anti Semitic threat or incident in the strongest in the strongest terms, she says. The administration is monitoring those threats and others closely. Vice President Harris poised to announce an investment more than two hundred million dollars from philanthropic foundations to finance artificial intelligence advancements. That story in this report this morning from Bloomberg's Jeff Bellinger. The investment aligns with the Biden administration's broader goals of promoting AI innovation that x consumers and supports international rules for the nascent technology. The funders are also prioritizing initiatives focused on safeguarding democracy, assisting workers facing AI driven changes, and improving the transparency around AI. The announcement comes as Harris is scheduled to travel to London this week to meet with industry and foreign government leaders at a summit on AI. Risks Jeff Bellinger, Bloomberg Radio. The testimony of former President Trump's daughter Avanka in his ongoing civil fraud trial has been delayed. She was scheduled to take the stand Friday, but will now appear November eighth instead in order to provide sufficient time for her to be questioned. She'll testified the same day as the third Republican presidential primary debate, which your father has chosen to skip. In Colorado, trials begun that has a group ongoing. Former President Trump's role on January sixth disqualifies him from holding office and he should be kept off the ballot there. A similar case is going to be heard this week in Minnesota. There's another one in Michigan and another sent for New Hampshire. Ultimately, they may be destined for the US Supreme Court. Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm John Tucker, and this is Bloomberg Radio. Karen all right, John, thanks well. We bring you news throughout the day right here on Bloomberg Radio. But now, as John said, you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify, and anywhere else you get your podcasts. It is time now for the Bloomberg Sports Update. Here's John stash Hour, John Karen. The Texas Rangers are now nine to zero in this postseason in road games. They won Game three in the World Series at Arizona three to one's going all three runs in the third and aint Corey Seeger hit a two run homer. Max Schurzer pitched the first three innings, left with a back injury, but John Gray followed with three innings and then three relievers followed after that. Rangers now lead the series two games to one, with Game four in Phoenix tonight. Frank Howard has passed away at the age of eighty seven. A Major leaguer for sixteen years, he was the Rookie of the Year playing for the Dodgers in nineteen sixty, won a World Series in LA a few years later, then a four time All Star plane for the Washington Senators. The Mother Night Football game was in Detroit and the Lions were coming off a thirty eight to six loss last week at Baltimore, they rebounded and beat the Raiders twenty six to fourteen, and Detroit is now six and two. The rookie running back Jamier Gibbs twenty six carries one hundred and fifty two yards. The Celtics are three and oh. They got thirty six points from Jalen Brown in a one twenty six to one oh seven win at Washington. The Warriors are three and oh on the road and Steph Curry scored forty two. Golden State won at New Orleans won thirty to one oh two. The Bruins were facing the team that mos to them from the playoffs last year. Boston was down Tune up in Pavel Zaka scored in overtime, and the Bruins beat Florida three to two, Bruins improving to eighth and one on the season. The NFL trade deadline is today at four o'clock Eastern. Buffalo Bills have signed veteran running back Leonard Fournette. John stash Our Bloomberg Sports from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SiriusXM, The Bloomberg Business app in Bloomberg dot Com. This is Bloomberg Daybreak. Good morning. I'm Amy Morris. Israel struck targets in Lebanon and stepped up its ground operations in Gaza. The latest military action comes as Prime Minister Benjamin Netanyah, who rules out a ceasefire. We're joined now by Bloomberg's Ross Matheson in London Rods. There was a defiant presser from Benjamin Nettnjah who despite those calls for a ceasefire. What was the main message, Well, it seemed to be a twofold message from Benjamin naw who in that press conference yesterday. The first one, as you say, was to make clear that he's not interested in a ceasefire right now with Hamas. He just said the stakes are too high for Israel and the imperative to strike back is too large. But it was also about him sort of resetting the narrative a bit potentially about his own leadership in this minute, as you were noting, he's been under pressure since the October seventh attack by Hamas. But the failure of Israel's intelligence services security services to see this coming, or certainly at least to ward it off from coming. And he has blamed others for that and was forced to apologize and retract a tweet that he did on it. And he was out there yesterday saying I'm here, I'm leading, I'm still in charge. In fact, he said I had to cool an end to the press conference so he could go off and, as he said, lead in this minute very much about sending a message that he's nowhere near resigning. In fact, he was asked in the press conference if he would resign. The answer was a resounding no. He was not going to resign. So it's about also his own personal leadership, and this minute is his popularity diminishing, however it is, and it seems to be there's sort of popular opinion on that. You can certainly see the tide on social media and some of the local media, also the opposition, but also more importantly senior figures in his so called unity government. Of course, he brought in other parties, other political figures in that moment, including Benny Gantz. He's been a key figure previously, and he's been quite critical of Nahu publicly overall of this, So it's not just sort of the public spirits. Also we're hearing senior figures in the security establishment, in the military, and in BB's own current Unity government, who are quite upset about some of the comments that he's made. Whether that leads to anything in the short term is unlikely. Right now, Israel is more focused on the war in Gaza, the war against Hamas, But in the longer term it is raising those further questions about his longevity as political leader. How much is this conflict spilling into other parts of the Middle East. What are more signs that you're seeing. Well, we're not saying that broad obviously, that the broad worry is that it becomes a Middle East wide conflict, but we are seeing seepitch in a way into other areas. So we're seeing Israel heating targets in Lebanon and Syria overnight. We're seeing Lebanon warning a short time ago that things could be escalating. Of course, Lebanon itself doesn't have a lot of control over Hesbella, that's the Iranian Bat militia that's operating there. It doesn't really have the ability to rain hesbelar In, but certainly Lebanon is worried about it and the knock on effect on its own country and the fact that things also seem to be spilling into Syria, where you've got a lot of Arani back malicious operating also does suggest that those concerns are real about the conflict escalating. And we know they've being attacked to and fro involving militia in Syria. They're also striking US soldiers at bases in places like Syria and Iraq. So you're seeing that escalation in activity involving Syria and Lebanon, at least those groups that are operating there. Thankfully now for now that you're still not seeing the sense that it's turning into a full scale regional conflict. Has there been more progress with increased humanitarian aid? It's been very limited. Again, a lot of calls obviously for aid to increase, many expressions of concern about the situation there, but still the trucks are only trickling in despite all those conversations and efforts that Israel's pledged to try and increase the aid flow, but there's no tangibles sign that that's really picking up. Meanwhile, the casualty rate inside Gaza is rising. The Hamas led administration there is now saying that eight three hundred people have been killed in Gaza, many of them children, and things are in a desperate state, including in the hospitals, So a lot of conversations around, a lots of conversations around. Can there be a pause in the fighting, But as of this morning, the flow of humanitarian health into Gaza is still very small. You're listening to Bloomberg Daybreak to day, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Sirius XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot Com. I'm Amy Morris and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day, right here on Bloomberg day BreakSee 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Bloomberg Daybreak: US Edition
Israel Enters 2nd Phase of War; Investors Await Fed Decision and Jobs Report

Bloomberg Daybreak: US Edition

Play Episode Listen Later Oct 30, 2023 23:25 Transcription Available


Your morning briefing. The news you need in just 15 minutes. On today's podcast: 1) Israel's military widened its ground offensive in Gaza, saying it killed dozens of Hamas militants overnight and describing the invasion as advancing gradually and to plan. 2) Employers in the US probably tempered their pace of hiring this month after beefing up payrolls by the most since the start of the year, consistent with a sturdy labor market that's powering economic expansion. 3) A federal judge in Washington has denied Donald Trump's request to keep on hold a partial gag order barring him from publicly criticizing prosecutors, potential witnesses, and court staff involved in the federal election prosecution against him. 4)  Matthew Perry, a comedian and actor who starred in “Friends” and “The Whole Nine Yards,”  has died. He was 54.  5) Cowboys win, 49ers lose, Kirk Cousins tears Achilles     FULL TRANSCRIPT:Good morning. I'm Amy Morris and I'm Karen Moscow. Here are the stories we're following today. First, let's bring you the latest developments on the war in the Middle East. Israel has widened its ground offensive in Gaza, pressing ahead with what it has called the second phase of its war against a moss We get the latest now from Bloomberg to Oliver Crook in Tel Aviv over the weekend. We had sort of that step up in terms of ground activity within Gaza in the fourth week of this conflict, and now a new chapter in it, it seems like, and that's really how he was described by the Prime Minister. Remember, there had been sort of puncture poles and sort of slight incursions in the lead up to this, but this was really the biggest step up in terms of ground troops and tanks going into Gaza, but still falls short critically of the full scale invasion that many people had envisioned and how this battle was going to go. Bloomberg's Oliver Crook in Tel Aviv reports Israel has struck more than six hundred militant targets in Gaza in recent days. Well, Amy, the military escalation comes as Israel's Prime minister criticism over his unwillingness to accept any responsibility for the October seventh attack. Benjamin Netanyahu caused controversy with a social media post where he pointed the finger at intelligence chiefs for the security lapse. He later deleted the post and apologized. Net Yahoo, speaking through an interpreter, addressed the nation our hero troops. They have one supreme main goal to completely defeat the murderous enemy and to guarantee our existence in this country. We've always said never again, Never again is now. And those comments come as Netanyahu spoke by phone with President Biden to discuss developments in Gaza. A Russian airport and a majority Muslim region has been temporarily shut down after a mob forced its way onto the tarmac where, according to reports, a plane from Israel had landed. It took hours to restore order. The Russian air Transport Agency says the airport will reopen tomorrow, after initially saying the regional hub may be closed for a week. Well amy back here in the US, House Speaker Mike Johnson said he expects the Republican led chamber to pass an Israel aid bill this week and he spoke to Fox News. We passed the resolution, as you noted, in strong support of our strong ally and great friend Israel. We had to do that. And then I flew last night to Las Vegas and spoke to the Republican Jewish Coalition, as you noted, to send a further signal that this isn't a priority for our country and we cannot allow the brutality and the just unspeakable evil that is happening against Israel right now to continue. We're going to stand with our friends, and Speaker Johnson added that he believes an Israel only bill will also receive bipartisan support in the Senate. And let's get you up to date on a couple of high profile court cases. First, Donald Trump lost his latest attempt to delay the partial gag order on him in his January sixth trial. Bloomberg's ed Baxter with that story. The partial gag order bars him from publicly criticizing prosecutors potential witnesses in court. Staff US District Judge Tanya Chutkin's ruling will immediately go into effect unless a higher court intervenes. Trump attorneys are expected to ask a federal appeals court to immediately step in the order was paused as a judge allowed further arguments. Prosecutors argue for a tighter gag, as they say a post regarding former chief of staff Mark Meadows, who flipped last week, would have violated the order if it were in effect ed. Baxter Bloomberg Radio all right ed thanks another trial news. FTX co founder Sam Bankman Freed returns to the stand today. He'll likely face a bruising cross examination from prosecutors after his Friday testimony, where he admitted to mistakes but said he didn't commit fraud. The case against Bankman Freed centers on allegedly fraudulent transfers of billions in FTX customer funds to an affiliated hedge fund, Alimeter Research, in which he held at ninety percent interest. Turning to the market's futures are higher as we begin a new trading week, S and P five hundred to enter da technic correction on Friday, with the benchmark closing ten percent below a recent peak. Morgan Stanley's Mike Wilson says investors hoping for a boost to stocks by the end of the year will be disappointed. Wilson says profit expectations are too high for the fourth quarter and next year. Melami. The direction of the equity market may be determined in part by some key events on the economic calendar. We get a preview from Bloomberg's Michael McKee. House prices and consumer confidence lead the way tomorrow before a big Wednesday ADP, employment, jolt's, job openings, and ism manufacturing. Thursday we get productivity and jobless claims, and Friday brings everyone's favorite indicator, the October jobs report. Normally that might be the big event of the week, but two Wednesday events will overshadow it. The Fed always gets huge attention even though nobody on Wall Street thinks they'll do anything this week, and Treasury's refunding announcement how much they'll borrow of what bonds this quarter. Debts are so high it could be a major market moving event. Michael McKee, Bloomberg Radio. I thank you, Mike. In Europe, shares of HSBC are down a quarter of a percent profit MYSSED estimates, but the bank did announce a fresh buyback program. We spoke with CEO Noel Quinn very pleased with the three billion dollar buyback that we've announced today. Up to three billion dollars. That takes it to seven billion for the full year. And I'm also pleased that we've announced another ten cents dividends. AHSBC chief executive Noel Quinn suggested there may be more buybacks to come. Well, Lamey, there's more labor problems at one of the big automakers. Workers at Stalantis's Canadian plants went on strike after failing to reach a new contract by a Sunday night deadline. UNI four, which represents Canadian autoworkers. As the strike involves more than eighty two hundred members, it gives the automaker a new labor headache just days after it's settled a long walkout with the United Auto Workers in the US, and again, futures are on the rise. This morning, straight ahead, we have more global headlines, plus a check of sports, and this is Bloomberg. Thank you, Karen. Time now for a look at some of the other stories making news in New York and around the world, and for that we're joined by Bloomberg's Michael Bark. Good morning, Michael, Good morning, Amy. More protests were held over the weekend across New York City, over the Middle East, crisis. Yesterday in Queens, a rally was held by the Bangladeshi community in Ozone Park. On Saturday, demonstrators in Manhattan march with Palestinian flags. Hundreds gathered for Brooklyn United for Israel rally demanding the release of hostages held by Hamas. A huge rally was also held inside Grand Central Terminal organized by the group Jewish Voice for Peace. Demonstrations were also held in Newark. An autopsy has been performed on Matthew Perry, but it could be weeks before we know what caused the star's untimely depth. Terry was found over the weekend in his hot tub at his Los Angeles home in New York City. Fans have been showing up in the rain to pay the respects at the sight of the famous Friend's apartment building in the West Village at the corner of Bedford in Grove Streets. Ely Besaides tears were coming. Ivy we were thinking about he was very funny. Matthew Perry was fifty four. A Long Island man was arrested after police say he allegedly pointed a gun at a six year old boy after the child mistakenly went to the wrong house. Michael Wynn was a rained yesterday in charge with menacing and endangering the welfare of a child. Authorities saying that the mother was driving her three kids and her nephew to a house in Manhasset when they apparently dropped off a Halloween goodie bag at the wrong address. Police say Win allegedly opened the door and pointed a gun at the boy's head. Attention is now being turned to missed warning signs in last week's massacre in Lewiston, Maine, that killed eighteen people. Police saying the suspected gunman, Robert Card, was found dead from an apparent self inflicted gunshot wound. Cohen, a former DHS official, sold ABC Card fits the profile of a mass shooter. This is an individual who is troubled that he was exhibiting behaviors that were noticed by family members, people he worked with, people in the military, yet he was still able to get a gun, and he was still able to fall through the cracks in the system and commit a mass shooting. Meanwhile, more than a thousand people gathered for a Sunday evening vigil to remember those killed and wounded in Lewiston. Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr. This is Bloomberg Amy. All right, Thank you, Michael, and we do bring you news throughout the day here on Bloomberg Radio. But now get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business app, Bloomberg dot Com plus apples, Spotify, and anywhere else you get your podcasts. Time now for the Sports Report, brought to you by Tri State Audi. For that, we're bringing John stash Hour. Thanks Amy. The Jets Giant game was expected to be low scoring. Both teams have a stout defense ended an anemic offense, but no one could have expected twenty four punts a collective four for thirty four on third down of the Giants to have negative nine passing yards. Despite that, the Giants towards the end were said to have a win probability of ninety nine percent. They led by three going for a field goal. Zach Wilson of the Jets had had only one good offensive play all day, but everything changed in the last twenty eight seconds of regulation. The thirty five yarder by the normally reliable Graham Ganot was missed. Wilson suddenly had consecutive twenty nine yard completions. Greg zerline field goal sent the game to overtime, where the Giants and Dorry Jackson was called for a thirty yard pass interference and the Jets kicked again. Stoop clean please continue the kickass up and the tech hooks to the left, but it's gone inside the left pry for Zerlin and the Jets spit it in overtime, and honestly, I'm not sure how it was. Headshake Adespo, New York the calleg Jets one thirteen ten. They've won three to a rother Giants are two and six and may have to play next week with the rookie QB Tommy DeVito. Daniel Jones's replacement, Tyrod Taylor, left in the first half with injured ribs. Big upset in Denver, Broncos beat the Chiefs first time in seventeen meetings, twenty four to nine, forty nine ers or five and oh. They've lost their last three beaten by Cincinnati. John Stashiewer, Bloomberg Sports ten. All right, thank you, John. The Bloomberg Sports Report was brought to you by Audi. Don't let someone else drive off in the Audi model you've always wanted. Visit your local Tri state AUDI dealer to get behind the wheel of yours today, or visit audioffers dot com for more information. Just add on Bloomberg Daybreak the very latest from Tel Aviv when we talk with Bloomberg's Ross Matheson, and we'll hear from a senior advisor to Prime Minister Benjamin Nott in Yahoo. You're listening to Bloomberg Daybreak. Futures are higher from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syria's Exam the Bloomberg Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, I MA anymore. As Israel has widened its ground offensive, end guards are pressing ahead with what it is calling the second phase of its war against Hamas we are joined now by Bloomberg's Roz Mathieson and Ras. Israel calls this the second phase. But what does that involve well what we know, it just doesn't involve an expanded operation on the ground inside Gars and more troops, more tanks going in where they continue their aerial bombardmer But what's interesting in this is that it's not the full throated ground war that we perhaps are expecting a week or two ago. We know Israel had masked hundreds of thousands of soldiers near the border with Gars, are an awful lot of equipment in the area, and so far they haven't sent in that kind of number of troops, and they're doing more target operations on the ground. That said, it is an escalation from what we had a few days ago, and the warning from the Israeli officials and the military is that this could take many many weeks, if not months in terms of their operation on the ground. Meanwhile, and all of that, we're seeing even greater evidence that the humanitarian situation for those inside Gaza is deteriorating further. Now, this is not the full scale invasion, as you just explained, and it is more measured, more targeted. So is Israel maybe backing off of the idea of that full scale invasion. Well, it certainly is a more significant operation on the ground than it was. As I said a couple of days ago, they said they struck more than six hundred targets in Gaza in recent days. That includes weapons depots and missile sites and so on. It's talked about saying that it's taken out quite a number of Hamas fighters. It's also conducting raids in the West Bank and clashing with militant fairs. So it's not a small scale military operation, but it's not the level that perhaps we expected. They are still maintaining that their ultimate goal is to decimate Hamas, to make sure that an attack that happened on October seven can never happen again. And let's look at the risk of this expanding. The Biden administration preparing for the possibility of the war expanding across the Middle East. What are some of the signals that we have seen that this is actually starting to bleed over Well, so far, we are seeing around, for example, make those threats it could open up multiple fronts in the region. We're still seeing some attacks coming from outfits proxy outfits for around in places like Syria, we're seeing Hesbela still engage in firefights with Israeli forces from the North, but we haven't seen a real step up in that activity. We're not seeing hes Bala utilize the full force of its machinery. It's got some very highly sophisticated missiles, for example. So we're seeing a lot of threats at the moment that it could still bleed into a broader conflict, and that remains a high concern for all, but so far we're not seeing real evidence that that's starting to happen. Israeli Prime Minister Benjamin Natanyahu, as you know, has been facing criticism and a lot of pressure over his unwillingness to accept any responsibility for that attack back in October. Is there a risk that Israel may find itself more isolated as it goes further, Well, we are seeing that idea of a unity government in Israel already potentially start to fray. As you mentioned the Prime Minister Benjamin net Now, he tweeted in the middle of the night saying that the security forces were responsible for the lapses that allowed the October seven attack. He then had to retract that tweet and apologize against a wall of criticism inside Israel. So perhaps questions about ongoing political unity inside Israel, but outside Israel. Also, you are seeing those very significant expressions of concern coming from Europe, the US and elsewhere and also Arab nations in the region about the state of life inside Gaza for people who were there, and concerns about the humanitarian situation. So you are still seeing that way to support from the US and Europe for Israel in the aftermath of the attack, But as time goes on, that is being eroded somewhat about concerns about the level of the catastrophe inside Gaza. All right, Bloomberg's ros mathieson with the latest in Israel. Thank you so much for that, And as that war enters its second phase, Israeli Prime Minister Benjamin nat Yahoo apologizing, as Rod's just explained, for that social media post in which he failed to accept responsibility for the terrorist attack on October seventh. Now earlier today, our Caroline Hacker spoke with Mark Regev, senior advisor to net Yahoo about that social media post and other aspects of the war. They talked about long term goals for security and peace, humanitarian aid for Gaza, US support. Let's go to part of that discussion. We haven't released any information yet, but what I heard last night was so far we've been doing well, and that's important for us obviously, But our goal is of course to take on Camas, to destroy its military machine and to remove it from power there on the Gaza Strip. We refuse in Israel to return to a situation where we've got this terrorist enclad on our southern border that at will will attack us, at will, will send rockets into Israel to target our cities, at will will send its killers into our country to massacre our people. We won't stand for that anymore. We will take on Kamas, we will destroy its capabilities to hurt us. What efforts are being made to negotiate the release of hostages now as the ground offensive has widened in the last couple of days, do you expect any more hostages to be released by hamas well? First of all, I don't expect Tamas to suddenly change. They're not going to become humanitarians. Yes, they are a brutal terrorist organization, and we saw vividly the sort of violence that capable of, the brutal violence that they're capable of when they attacked Israel on October seventh. So we have no illusions about Kamas we think we'll get our hostages out by ratcheting up the pressure on Hamas, the military pressure, the diplomatic pressure on its allies. We think that's the best way to get our people home. And of course, as our operation continues, and as our operation expands, the efforts to get the hostages released will continue. You are close to Benjamin Latanier, who is his advisor, of course, and you're in the room at many of the important moments and meetings. Benjamin Netanya, who over the weekend issued this very rare apology for a tweet in which he blamed Israel's security forces and intelligence of failing to anticipate the Hamas attack on the seventh of October. How much pressure is Netanyahu under now to resign. I'm not aware of any pressure for him to resign. I would say this, Yes, it's clear that we're failures on the Israeli side. They took us by surprise on October seventh. We didn't have an intelligence warning. That's clear. When they crossed our border. They butchered our people, and Israelis want to know how this happened. Now. Obviously the Prime Minister is at the top, and he has overall responsibility. But it's clear that when this is over, we're going to have to look at all the lessons learned and have a thorough investigation of what happened, where everyone in all positions of authority will be held accountable. Iran's foreign minister has been speaking to Bloomberg. He spoke to us on Friday. He said that if the United States continues what it has been doing so far, in other words, support for Israel, then quote new fronts would be opened up against the United States. How much of a concern are comments like that to you. I think it's exactly opposite, the fact that the United States has sent its two aircraft carrier groups to the Middle East, the fact that the United States has worn the Iranians. Don't use Gaza as an excuse to try to start something new. I think that's going to keep the peace. Our policy is victory in the south, and we will win victory over Kamas and the gas strip and to deter any possible offensive from Grizibella or Iran in the north. And as it's been reported, Israel has been fighting back, hitting targets when we've been attacked by Islaar and even from Syria. Last night, but we don't want a larger escalation in the north, but we are ready. The US, though, has said that Israel and its military should be taking every possible means available to them to distinguish between Harmas, should the US cause terrorists who are legitimate military targets, in their words, distinguish between Hamas and civilians who are not are not targets. Is Israel doing that. Israel has also promised significantly more humanitarian aid. What is the realistic time frame for when that happens. So we accept that we want to attack and destroy Hamas, and we want to make every maximum every effort possible to keep civilians out of the crossfire between the idea of these rather defense forces than the Kammas terrorists, and that's why we've been calling upon urging Gars and civilians to leave combat zone, specifically in the north where we know there is going to be heavy fighting. We want to get them out of Harmer's way. At the same time, it must be said that Ramas is doing everything possible to tell people not to leave, that they have to be martyrs for Ramas's crazy extremist cause, and they've actually put up roadblocks to physically prevent people from leaving areas of combat from going south. What do you say to the UN call and many other countries who are calling for a cea spar that actually, more bloodshed is not the way to bring about peace after so many other wars. What do you say to them, Well, if they can tell me another way to dismantle Cammas's military machine, I'm very glad to hear it, But at the moment, there is no other way. And those who call for a cease file in the current situation. It might sound good, and I understand why people might think, oh, that's a wonderful idea, let's stop shooting, But that basically just returns us to October seventh or sixth in the morning, where Israel has this terroced enclave on our southern border run by Kamas, which is like Isis on steroids. We saw the violence they were capable of that, We saw the brutality. We saw the rapes and the murders and burning people alive, and the massacres. We refuse. People have to understand Israel refuses to return to that situation. What is the post war plan for Gaza exactly? So we don't want to have, you know, to stay there forever, but we will. We will stay there as long as we need to destroy Kamas's military machine, and that is the goal of this operation. And so it would mean Israeli forces in Gaza for an indefinite period of time. I wouldn't put it that way, but as long as our military operations are necessary to destroy Kamas's military machine. Once again, we have no intention of staying there. We have no desire to rule the Gaza strip in any sort of That was Mark Redjeff, Senior advisor to Israeli Prime Minister Benjamin det Yahoo, speaking with our Caroline Heffger. Listen back to that entire conversation on the Bloomberg Talks podcast. Download that program wherever you get your podcasts. You're listening to Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh sixty one in Boston, and Bloomberg nine sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus. Listen coast to coast on the Bloomberg Business app, Sirius XM Channel one nineteen, the iHeart Radio app, and on Bloomberg dot Com. I'm Amy Morris and I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg DaybreakSee 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Bloomberg Daybreak: US Edition
US Strikes Syria; Search For Gunman in Maine Shooting; Taylor Swift Billionaire Status

Bloomberg Daybreak: US Edition

Play Episode Listen Later Oct 27, 2023 24:23 Transcription Available


Your morning briefing. The news you need in just 15 minutes. On today's podcast: 1) US forces conducted strikes on two facilities in eastern Syria it believes were used by Iran's Islamic Revolutionary Guard Corps and affiliated groups, in response to attacks on American troops in the region. 2) Taylor Swift's Eras tour has generated as much money as the economies of small countries. The movie version is ruling the box office. Her new recording of a nine-year-old album, 1989, is expected to be one of the hottest-selling records of the year. 3) A massive manhunt is underway in Maine for a suspect in a mass shooting that left 18 people dead and 13 injured at a bowling alley and a restaurant in Lewiston, the state's second-largest city. 4) Amazon Chief Executive Officer Andy Jassy gave investors much of what they wanted this earnings season: robust sales and profit growth along with a hint that the cloud division earnings machine is regaining momentum.5) The Buffalo Bills beat the Tampa Bay Buccaneers in Thursday Night Football     Full Transcript:     00:02Speaker 1Good morning. I'm Nathan Hager and I'm Amy Morris. Here are the stories we're following today. Amy, we begin with breaking developments in the war in the Middle East. The US has now conducted military strikes, and we get more from Bloomberg's Rosalind mathieson the US has struck two targets, they say inside Syria. They say they were aiming at Iran's Islamic Revolutionary Guard and basically a warning again to some of these proxy groups that are operating in the region potential on behalf of Iran, because what we've seen is an escalation the pattern of attacks or targeting of US military assets in the region. Bloomberg's Rosalind Mathison says Defense Secretary Lloyd Austin is characterized in the US strikes as separate and distinct from the Israel Hamas war, and Nathan the strikes come as Iran's born minister warned the US won't be spared if the war between Israel and Hamas spreads. Born Minister Hossain Amir abdo Lahi and delivered the threat in a speech to the United Nations General Assembly. We do not welcome to expansion of the war in the region, but are you all If the genocide in Gasse continues, they will not be spared from this fire. The comments by Iran's foreign minister comes as Israel says it sent troops on a limited raid into Gaza for the second straight night. Now amy to the latest on the deadly mass shooting in Maine, an intense search continues for Robert Card, the forty year old Army reservist accused of killing eighteen people inside a bowling alley and bar in the city of Lewiston. The city's mayor, Carl Shalen, is telling people to stay off the streets. This is the time for action, solidarity and support. Please take note the shelter and place order issued by the Lewiston Police Department remains in effect. Please stay at home and be safe. Lewiston Mayor Carl Shalen says much of the focus has been one of cards relatives' homes in the rural town of Boden f Behind. Other agents surrounded the property, ordering anyone in Scientist surrender after several hours, though state police said it was not clear if anyone had been there. The newly anointed Speaker of the House is commenting about the latest deadly shooting. Mike Johnson does not think it's a gun problem the end of the day, it's the problem is the human heart. It's not guns, not the weapons. At the end of the day, we have to protect the right of the citizens to protect themselves and that's the Second Amendment and that's why our party sends show strongly for that. Speaker Johnson made the comments in an interview with Fox's Sean Hennity and said that now is not the time for new gun laws. I Meanwhile, Amy the House passed its first major piece of legislation since Johnson became Speaker, and it flies in the face of President Biden's emphasis on energy efficiency. Bloomberg zed Baxter has the story. It cuts into the Inflation Reduction Act, which incentivized homeowners to switch to more energy efficient appliances, and into money that helps stage craft more stringent building energy codes. The effect of this which strip billions of dollars put aside for consumer rebates. Speaker Mike Johnson in the past has criticized the spending on climate and clean energy measures as green energy slush funds. It's not expected to pass the Senate or get a Biden's signature ad Baxter Bloomberg Radio, Thank you ed Now. An update on the trial of Sam Bankman Freed. The FDx founder, spent almost three hours trying to convince a judge to allow him to testify to a jury about the role lawyers played in the collapse of the crypto exchange. Bloomberg's Bob van Vories is covering the case in Lower Manhattan. He spent the entire afternoon on the spand but he was previewing testimony that he wants to give relating to advice that he got from lawyers. So Judge Kaplan is listened to the testimony. It's going to rule in the morning. What the jury gets to hear. They got sent home after lunch. Bloomberg's Bob van Voris says, Bank and Freed's team is trying to show many of the transactions are the subject of criminal charges conducted in the full view of lawyers. Turning to markets, Amy Watch and shares of Amazon, they are hired by more than five percent in early trading. The company gave investors a lot of what they wanted this earning season, robust sales and profit growth, along with a hint that the cloud division earnings machine is regaining momentum. Matthew Bloxham is a tech analyst for Bloomberg Intelligence. They are the leader in cloud, so there's a huge number of corporates who already use them for cloud, and those corporates are all scrambling to get into the genes of AI space, so they're kind of looking to train models and use them in applications. Bloomberg Intelligence, as Matt Bloxham says, cloud unit sales increase twelve percent. More than twenty three billion dollars. Shares of Intel also on the move, up nearly eight percent. The chip maker is predicting a return to sales growth in the fourth quarter. Intel says it's being fueled by an improving personal computer market and a more competitive product line. Turning to the economy, Amy Janet Yellen says the surgeon treasury yields is tied to the strength of the economy rather than the widening fiscal deficit. We spoke with the Treasury Secretary in Washington. We're seeing yields go up in most advanced countries. Part of the increase in yields, I think is simply a reflection of the strength of the economy the notion that interest rates will be higher for longer. Secretary Yellen says the trends that had produced low levels for yields before the pandemic are still there. For the full conversation, head to our Bloomberg Talks podcast feed find it wherever you get your podcasts. And right now we find the tenure treasury yield at four point eight six percent, the two years at five point zero four, and futures are surging. This morning, this is Bloomberg Time now to take a look at some of the other stories making news in New York and around the world. For that, I'm joined by Bloomberg's Michael Barr. Good morning, Michael, Good morning, Nathan. Representative George Santos's scheduled to be a rain this morning on more charges filed earlier this month. According to prosecutor, Santos allegedly stole identities and made purchases on the credit cards of his donors. Meanwhile, there is a push from New York Republicans to expel Santos from Congress. Representative Anthony Desposito says Santos is not fit to serve as constituents. As a United States representative people have seen over the last ten months what a fraud he is. I mean, you know, you read either indictment, there's a clear outline that lays out the fabrications, the lies, the manipulation of donors and others that he has committed over the last year or longer. Audio courtesy of Forbes. D Esposito's resolution would need two thirds of the House to expel the Long Island Congressman. Meanwhile, Santos, who says he will not step down, responded on social media saying that he is entitled to due process and not a predetermined outcome as some are seeking. The NYPD is on high alerts in case the suspected main mass shooter tries to enter the tri state area. While there is no evidence that suspect Robert Card is coming to New York, it comes at a time when already counter terrorism officers are on the streets because of the crisis in the Middle East, and MYPD Commissioner Rebecca Winer, we don't see any neccess to New York City with this incident, tragic as it was, but we've been saying this a lot over the last couple of weeks, and we always do we urge all New Yorkers to continue to go about your business, but to remain alert to your surroundings. Commissioner Winer join Mayor Eric Adams at a news conference to discuss safety in the city. Amid the active search for card There will be more than one hundred car free streets to keep trick or treaters safe in New York City this Halloween. The Trick or Streets Initiative is being expanded to give access to pedestrians for safe spaces across the five boroughs. The initiative that kicked off October fourteenth at fifteen locations, where we expanded starting tomorrow, Global news twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr. This is Bloomberg Natha Tricker Streets. That's a great idea. Thank you, Michael. Now great news because we do bring you news throughout the day here on Bloomberg Radio. But now you can get the latest news on demand whenever you want it. Subscribe to Bloomberg News Now to get the latest headlines at the click of a button. Get informed on your schedule, Listen and subscribe to Bloomberg News now on the Bloomberg Business app, Bloomberg dot com, plus Apple, Spotify, and anywhere else you get your podcasts. Time now for the Bloomberg Sports Update, brought to you by tri State Outy. Good morning, John stash Hour, Good morning. Eighth in this world series with two unlikely teams begins tonight. Both Arizona and Texas lost over one hundred games just two years ago. Both snuck into the postseason as a wild card, but are nine and three allthough. The Rangers are one and three at home eight no on the road. Ain't arly. They start Nathan Evaldi, who's four and oh in the postseason. The Diamondbacks start Zach Gallon. The Bills are four and oh. In Buffalo, they never trailed, beat the Bucks twenty four to eighteen. Josh Allen threw for two touchdowns ran for another. The Jets and Giants first played each other in nineteen seventy Sunday's game only the fifteenth regular season meeting ever. Giants lead the series eight to six. Jets have won the last two. Last Giants win was twenty eleven. They won the Super Bowl that year. Here's Jets coach Rob Sala. I'm excited about You said it's once every four years. Maybe there's a crossover now at the seventeenth game. But you know, I think it's really cool for the fans. I think it's great for sports talk radio and all the different newspaper outlets and all that. But you know, it's a championship opportunity. You know, a lot of respect for them. They've got a tremendous history of Salla's backup running back is veteran Dalvin Cook plays behind Breeze Hall. Cook says he's frustrated being the backup, might want a trade before next week's deadline. A five game road trip for the Rangers. They won the first three and of a lot only two goals the shutout for Jonathan Quick and Edmonton. Rangers won three nothing. Islanders beat Atawa three two. Damian Lillard's first game for the Bucks in Milwaukee port in thirty nine points and a one point win over the Sixers. The Lakers, bree Phoenix Nixon Nets began with losses at home. They're on the road tonight, Nicks in Atlanta. Nets are in Dallas. They'll face the X next. Tyler RD Johns, Dashawl Bloomberg Sports Nathan. All right, John, Thanks. Bloomberg Sports is brought to you by Audi. Don't let someone else drive off in the Audi model you've always wanted. Visit your local Tri state AUDI dealer to get behind the wheel of yours today, or visit audioffers dot com for more information. A debrief on the Israel Hamas War. Next, we're gonna check in with Bloomberg's Israel Bureau chief Ethan Brunner in Tel Aviv, from coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on Syrias XAM, the Bloomberg Business app in Bloomberg dot com. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. The world is watching for the next phase in the Israel Hamas War. Israel has carried out ground rates in Gaza for a second straight night, and now the US is targeting are striking targets in Syria that it says have been used by Iran and its proxy groups for the latest We are joined by Bloomberg's Israel Bureau chief Ethan Bronner in Tel Aviv. Ethan, good morning. What more can we say now about this latest military activity, not just by Israel but now apparently the United States. Yes, well, I mean, what we can say is that these are a small piece of evidence of the risk of a spreading conflict, of the fact that Iranian proxies around the region, not just Hamas in Gaza, are at work, and that a combined force of Israel in the United States seeking to sort of keep them in their place, as it were, as opposed to letting it get truly out of hand. The Americans have absolutely heightened their military profile in the region. The Eisenhower is on the way to the Eastern metag should be here by Monday. There's a whole bunch of Patriot missiles, a whole bunch of troops as well, and Israel is trying to decide what it's going to do in Gaza. I think it's become an increasingly anguished decision because of those two hundred plus hostages, because of the concern that victory is hard to define, and because even though people are humiliated and furious about what happened in October seventh, the question of how many casualties Israel truly wants to take in this far from clear. And to that point, Ethan there has to be some thinking on the Israeli part about how to continue to keep Allied support given how fierce the response has been on the Israeli side following that October seventh attack by Hamas. Look, I think that's true, I mean absolutely. I wrote a story a couple of days ago about the sense that Israel has that it is increasingly alone in its view of the legitimacy of what it's doing. It's not alone alone, and that the United States has been a standing shoulder or shoulder with it. The Europeans have come through and have said, we feel your pain, we understand, we agree AMAS is a terrible organization needs to be dismantled. But what does that really mean? And at what cost? And what about these seven thousand dead people in Gaza? And I think even the United States feels a way, and even people in Israel to some extent are beginning to ask what does it mean to do? What is the right thing to do? And I don't think they've figured it out. There is a sense here that unless AMAS is ultimately dismantled, that that life here will not be tolerable, that people will not stay, people not live along the border, and that is not something that's acceptable. But what does it mean on what time and what time frame Israel needs to do this, I think is the key. In addition to the concern that Hisbella and other Iranian back groups could enter the frame and at the same time, Ethan, we've heard from Israel that the strikes that have been carried out have continued to take out HUMAS leadership. I think one of the latest reports was that a deputy director of HUMAS has been killed in one of the latest strikes. Is there a sense that taking out the leadership is achieving some of the objectives that Israel is setting out here? Well, I mean, I don't know that we're there yet. That's absolutely Israel's contention. And they've set up, in fact, within the security system a kind of a squad that's going to take it upon itself over the next year or two or three to take guys out who've led HUMAS, whether they're in Gaza or in Katar, or in Lebanon or in Turkey. There's a kind of assassination squad that's been set up, and they're also going after them inside. Does it make a difference, It must make a difference, But you know, they're spread around. There are a lot of them, and it's very hard to the impression one gets at the moment is that it's sort of middle management that they've been able to get, not the top guys. So I don't know how big a difference it's making. Appreciate you coming back on with us, Ethan, and keeping us up to speed on all the developments that have been happening in the Israel Humas War now with these US strikes into Syria as well. Ethan Browner are Israel bureau chief for Bloomberg News, joining us this morning from Tel Aviv. And now we want to turn to a conversation with Treasury Secretary Janet Yellen. She joined Bloomberg Washington Bureau chief Peggy Collins for a wide ranging conversation after we saw a third quarter GDP in the US grow at its fastest pace in nearly two years. Secretary Yellen talked about that blowout economic figure as well as rising bond yields and geopolitical risks. Let's go to part of that discussion. Now, it's a good strong number and it shows an economy that's doing very well. Let's remember it is just one quarter's number, and I'm not expecting a growth at that pace to continue. But we do have good, solid growth. You know, probably the year will come in close to two and a half. I wouldn't be surprised if we see that we have solid job creation, a low unemployment rate, increased engagement in the labor force, inflation's coming down, and you don't really see any sign of recession here. I have to say, I've been saying for a long time that I believed there was a path to bring inflation down in the context of a strong labor market. Frankly, it's only it's about a year ago since I believe a Bloomberg model predicted that by October of twenty twenty three. Now, namely that you saw at the odds of recession at one hundred percent. I don't think we have that. You know, what we have looks like is soft landing with very good outcomes for the US economy. So I think there's a lot to be pleased to beat. And you see good strong consumer spending. Consumers still have substantial wealth. I think it's supporting good strong spending and the economy is doing well, and I think US growth is making a contribution to stronger global outcomes as well. So I want to ask you a little bit about the rise in yields that we've seen. We've seen yield surging over the last few weeks. The ten year treasury rose above five percent earlier this week. What's your view on what is driving that surgeon yields and how much of it is connected to investors' concerns about the US deficit. Well, I don't think much of it is connected to that. This is a global phenomenon in advanced countries where seeing yields go up in most advanced countries of the world largely, I think it's a reflection of the resilience that people are seeing in the US economy, that we're not having a recession, that consumer spending and demand continue to be strong, The economy is continuing continuing to show tremendous robustness, and that suggests that interest rates are likely to stay higher for longer. And so part of the increase in yields I think is simply a reflection of the strength of the economy, the notion that interest rates will be higher for longer. Now, whether or not that's really true if we look at five or ten years, what are interest rates likely to do? Honestly, for a very long time, we've felt that interest rates over decades had been coming down real interest rates, and there were deep structural reasons for that, in part relating to demographics and those underlying trends. They're still there, they're still in force. So I think it's perfectly possible that we will see longer term yields come down, but nobody really knows for sure. But I see the higher yields as certainly importantly a reflection for stronger economy. I know you took a trip to China in big to Beijing this summer. You've been talking about how our policy should really be around de risking or diversifying rather than decoupling. But what do you think is the current status of that. Do you think the Chinese have adopted that and feel like they can trust us on that front, or do you think they still really think that we're in a competition with them first and foremost. So, I mean we've articulated a strategy. As you said, it involves de risking in some areas where we're overly dependent on China, and clean energy is a good example. We also intend to focus on national security. That's an area that we're not willing to compromise on, and so we have We do have export controls. We continue to review them with We're working on a set of restrictions on outbound investment to China. We've discussed this with them and put out a proposal that's in the public domain. I think comments just closed on it. But our objective there is to target what we do as narrowly as possible so that it really focuses on national security, that it is not an intention in that to harm the prospects of Chinese economic development and the welfare of the Chinese people. With the Israel Hamas war happening in the Middle East, I think there's a concern by some that the war could spread or expand to broader in the region. I know that that's not your base case, but if that was to happen, could you walk us through your wrist scenario for what that might mean to the global economy. My focus is, I look now at what's happening to the Middle East. Really is the tragedy, the human tragedy that's taking place with the Israelis have suffered, and of course we're worried about casualties in Gaza as Israel pursues its war against Tamas. So far, I would say we've not yet seen much that has global consequences. What could happen if the war expands. Of course, there could be more meaningful consequences, but I think it's premature to speculate against about those, and I think our focus should be keeping this contained and not spreading. And that was the Secretary of the Department of the Treasury, Janet Yellen, speaking with Bloomberg's Peggy Collins from our Washington newsroom. You could hear that entire conversation on the Bloomberg Talks podcast. Download the show in all of our high profile discussions wherever you get your podcasts. Finally, amy more proof that the Taylor Swift era is alive and well. Taylor Swift's eras tours generated as much money as the economies of small countries. The movie version is ruling the box office. New recording of a nine year old album, nineteen eighty nine, just dropped at midnight tonight and is expected to be one of the hottest selling records of the year. Now Taylor Swift's net worth has catapulted her past the billion dollar mark. The calculation by Bloomberg News takes into account the following, the estimated value of Taylor Swift's music catalog and her five homes, as well as earnings from streaming deals, music sales, concert tickets, and merchandise. This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts. You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine to one in Washington, Bloomberg one oh six to one in Boston, and Bloomberg ninety sixty in San Francisco. Our flagship New York station is also available on your Amazon Alexa devices. Plus listen coast to coast on the Bloomberg Business app, serious XM Channel one nineteen, the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager and I'm Amy Morris. Join us again tomorrow morning for all the news you need to start your day Right here on Bloomberg day BreakSee omnystudio.com/listener for privacy information.

P&L With Paul Sweeney and Lisa Abramowicz
INTRODUCING: Bloomberg News Now

P&L With Paul Sweeney and Lisa Abramowicz

Play Episode Listen Later Sep 16, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.Listen and Subscribe on:Apple: apple.co/3Eyz9EXSpotify: spoti.fi/45IG5LRAnywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Talks
INTRODUCING: Bloomberg News Now

Bloomberg Talks

Play Episode Listen Later Sep 15, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Law
INTRODUCING: Bloomberg News Now

Bloomberg Law

Play Episode Listen Later Sep 13, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Opinion
INTRODUCING: Bloomberg News Now

Bloomberg Opinion

Play Episode Listen Later Sep 13, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Law
INTRODUCING: Bloomberg News Now

Bloomberg Law

Play Episode Listen Later Sep 13, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Businessweek
INTRODUCING: Bloomberg News Now

Bloomberg Businessweek

Play Episode Listen Later Sep 12, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.Listen and Subscribe on:Apple: apple.co/3Eyz9EXSpotify: spoti.fi/45IG5LRAnywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Intelligence
INTRODUCING: Bloomberg News Now

Bloomberg Intelligence

Play Episode Listen Later Sep 12, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Surveillance
INTRODUCING: Bloomberg News Now

Bloomberg Surveillance

Play Episode Listen Later Sep 12, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Businessweek
INTRODUCING: Bloomberg News Now

Bloomberg Businessweek

Play Episode Listen Later Sep 12, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.Listen and Subscribe on:Apple: apple.co/3Eyz9EXSpotify: spoti.fi/45IG5LRAnywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Masters in Business
INTRODUCING: Bloomberg News Now

Masters in Business

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.   Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Business of Sports
INTRODUCING: Bloomberg News Now

Bloomberg Business of Sports

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.   Listen and Subscribe on:   Apple: apple.co/3Eyz9EXSpotify: spoti.fi/45IG5LR  Anywhere: bit.ly/460OMkaSee omnystudio.com/listener for privacy information.

Sound On
INTRODUCING: Bloomberg News Now

Sound On

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Technology
INTRODUCING: Bloomberg News Now

Bloomberg Technology

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: US Edition
INTRODUCING: Bloomberg News Now

Bloomberg Daybreak: US Edition

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: Asia Edition
INTRODUCING: Bloomberg News Now

Bloomberg Daybreak: Asia Edition

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


 Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.Listen and Subscribe on:Apple: apple.co/3Eyz9EXSpotify: spoti.fi/45IG5LRAnywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Wall Street Week
INTRODUCING: Bloomberg News Now

Wall Street Week

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.     Listen and Subscribe on:   Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMka See omnystudio.com/listener for privacy information.

Bloomberg Daybreak: Europe Edition
INTRODUCING: Bloomberg News Now

Bloomberg Daybreak: Europe Edition

Play Episode Listen Later Sep 11, 2023 0:30 Transcription Available


Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.Listen and Subscribe on:      Apple: apple.co/3Eyz9EX   Spotify: spoti.fi/45IG5LR   Anywhere: bit.ly/460OMkaSee omnystudio.com/listener for privacy information.