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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 2: Karen, we begin with talks now underway in Saudi Arabia

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Speaker 2: between the US and Russia aimed at ending the war

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Speaker 2: in Ukraine. Ukraine is not represented at this meeting. It's

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Speaker 2: headed by Secretary of State Marco Rubio and Russian Foreign

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Speaker 2: Minister Sergei Lavrov and Riod. Yesterday, Ukrainian President Vladimir Lensky

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Speaker 2: reiterated he would not recognize any agreement reached without his country.

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Speaker 4: Ukraine is not participating. Ukraine knew nothing about it. Ukraine

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Speaker 4: regards any negotiations on Ukraine without Ukraine as negotiations with

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Speaker 4: no result, and we cannot acknowledge anything any arrangements about

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Speaker 4: US that were made without US.

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Speaker 2: Ukrainian President Vladimir Lensky spoke through an interpreter after both

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Speaker 2: the US and Russia clarified Ukraine would be involved in

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Speaker 2: future negotiations, though as yet it's not clear what form

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Speaker 2: that would take.

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Speaker 3: Well, Nathan, Ukraine is not alone and not being invited

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Speaker 3: to the meeting in Saudi Arabia. Europe is also not

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Speaker 3: represented at the talks. Russia's Foreign Minister Sergei Lavrov says

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Speaker 3: they didn't want them there.

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Speaker 5: The European philosophy hasn't gone anywhere. If they're going to

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Speaker 5: wheezl out some cunning ideas about freezing the conflict while

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Speaker 5: actually intending, as is their custom, nature and habit, to

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Speaker 5: continue the war, then why should we invite them at all?

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Speaker 3: And Russia's Foreign Minister Sergei Lavrov speaking there through an interpreter.

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Speaker 3: The meeting follows a landmark phone call between President Donald

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Speaker 3: Trump and Russian President Vladimir Putin, which could pave the

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Speaker 3: way for a summit between the two leaders as soon

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Speaker 3: as next week.

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Speaker 6: Well.

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Speaker 2: Meanwhile, back in Washington, Karen, President Trump's push to reign

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Speaker 2: in the federal government is leading to more high profile clashes.

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Speaker 2: According to The Washington Post, the acting head of the

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Speaker 2: Social Security Administration resigned over the weekend after a dispute

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Speaker 2: with Elon Musk's government efficiency team over its attempts to

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Speaker 2: access sensitive government records. Michelle King had served several decades

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Speaker 2: at Social Security before she became acting commissioner last month. Now,

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Speaker 2: President Trump has named an anti fraud manager Leland Dudik

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Speaker 2: as the new acting commissioner. This puts Dudek ahead of

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Speaker 2: dozens of senior executives who were higher up in the

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Speaker 2: agency's ranks.

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Speaker 3: Meanwhile, Nathan nearly two dozen US attorneys have found out

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Speaker 3: they're added jobs after an email mix up. Bloomberg Law

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Speaker 3: has learned the White House sent termination emails to the

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Speaker 3: wrong addresses of as many as twenty two US attorneys

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Speaker 3: in Philadelphia, Arizona, New Mexico, and other districts. The prosecutors

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Speaker 3: had an idea their jobs were on the line when

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Speaker 3: they lost access to their government issued devices last Friday.

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Speaker 3: By last night, the Justice Department sent the notices where

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Speaker 3: they should have gone to their personal emails. Sources to

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Speaker 3: hel Bloomberg Law, the firings were originally sent to the

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Speaker 3: prosecutor's internal dog email addresses, which should have bounce back

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Speaker 3: to White House staffers.

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Speaker 7: Man Karin.

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Speaker 2: The Trump administration has begun firing several hundred Federal Aviation

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Speaker 2: Administration employees probationary workers we're targeted. In a message posted

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Speaker 2: to x late last night, Transportation Secretary Sean Duffy said

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Speaker 2: zero air traffic controllers and critical safety personnel were let.

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Speaker 3: Go well, Nathan. The firing comes amid another plane crash.

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Speaker 3: A Delta Airlines plane flipped upside down upon landing in

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Speaker 3: windy and freezing conditions in Toronto. All eighty people on

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Speaker 3: board survived. Fifteen people were injured. Bruce Landsberg is a

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Speaker 3: former vice chair of the National Transportation Safety Board.

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Speaker 6: We will have a team going up there. The go

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Speaker 6: team is just in the process of getting organized now,

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Speaker 6: and they'll go up there and they will participate with

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Speaker 6: TSB in going through the wreckage and gathering information, and

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Speaker 6: then we'll provide our expertise and we'll share knowledge.

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Speaker 3: Former NTSB vice chair Bruce Lansburg. The incident continues a

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Speaker 3: bad start of the year for air safety in North America.

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Speaker 3: Ten people died on board a commuter plane that crashed

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Speaker 3: in Alaska. In late January, sixty seven people died after

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Speaker 3: a regional jet in a military helicopter collided mid air

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Speaker 3: near Ronald Reagan Washington National Airport, and days later, a

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Speaker 3: Metavag plane crash soon after takeoff in Philadelphia.

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Speaker 8: Karen.

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Speaker 2: President Trump has announced to US operation in Syria that

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Speaker 2: took out an Al Qaida leader. In a truth social post,

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Speaker 2: the President says the precision airstrike took place over the weekend.

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Speaker 2: The New York Post reports US Central Command released a

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Speaker 2: statement saying the strike took place on Saturday and led

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Speaker 2: to the death of a senior finance and logistics official

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Speaker 2: from an ol Kaida affiliate known as Horas Aldeen.

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Speaker 3: Well, we turn to the markets now, Nathan, and futures

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Speaker 3: are hire as we kick off a holiday shortened trading week.

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Speaker 3: The S and P five hundred is just a few

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Speaker 3: points away from our record high. Cameron Dawson, the chief

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Speaker 3: investment officer at New Edge Wealth, says the threat of

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Speaker 3: a trade war is easing.

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Speaker 9: Markets are trading with this release on the night idea

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Speaker 9: of we have the boy who cried tariff effectively for

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Speaker 9: all the talk and rhetoric of how big tariffs would be,

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Speaker 9: you're seeing these things like the delay in the world

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Speaker 9: out till April of the reciprocal tariffs, effectively providing a

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Speaker 9: window for them to be negotiated.

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Speaker 3: A New Edge wels. Cameron Dawson says earnings will be

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Speaker 3: key for the markets going forward.

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Speaker 2: And Karen Goldman Sacks remains bullish on gold. The firm

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Speaker 2: is raising its year end target for bully into thirty

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Speaker 2: one hundred dollars an ounce. Goldman says that's because of

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Speaker 2: central bank buying and inflows into gold back exchange traded funds.

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Speaker 2: Checking gold prices right now, comix Gold is up eight

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Speaker 2: tens ever percent at twenty nine hundred and twenty four

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Speaker 2: dollars eighty cents per ounce.

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Speaker 3: And Nathan shares at BHP Billetin are down about six

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Speaker 3: tenths of a percent. Overseas first half profit slump twenty

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Speaker 3: three percent is China's faltering economy, damp and demand for

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Speaker 3: iron ore. They caught up with CEO Mike Henry.

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Speaker 10: There has been some overall economic challenges or headwinds in China,

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Speaker 10: but the sectors of the economy that are important to

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Speaker 10: BHP's commodity demand, for the most part, have been performing strongly.

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Speaker 10: The exception, of course, is a property sector that has

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Speaker 10: been under some pressure. But we're starting to see some

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Speaker 10: green shoots there by way of increased news starts, property

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Speaker 10: price rise in some sectors, so I think we'll see

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Speaker 10: some some momentum building into twenty twenty six.

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Speaker 3: Bhpco Mike Henry cut the interim dividend to an eight

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Speaker 3: year low it's now fifty cents, is sheer down from

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Speaker 3: seventy two cents the year before. And it's time now

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Speaker 3: for a look at some of the other stories making

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Speaker 3: news in New York and around the world. And for

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Speaker 3: that we're joined by Bloomberg's John Tucker.

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Speaker 7: John, Good Morning, Good morning, Karen.

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Speaker 11: New York City Mayor Eric Adams is under increasing pressure

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Speaker 11: to step down as a crisis enveloped city Hall. Let's

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Speaker 11: get the very latest this morning from Bloomberg's genus Orvenni.

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Speaker 12: Governor Kathy Hokel is meeting with key leaders today, raising

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Speaker 12: quote serious questions about the future of Eric adams administration,

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Speaker 12: citing her power to remove the mayor. The crisis surrounding

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Speaker 12: Adams intensified after four top deputies said yesterday they were resigning,

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Speaker 12: and the speaker of the City Council called for him

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Speaker 12: to step down. The four deputy mayors who resigned overseeing

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Speaker 12: much of the city's government. Hokl, a fellow Democrat, called

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Speaker 12: allegations of a quid pro quo between the mayor and

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Speaker 12: the Trump administration quote extremely concerning and serious. The mayor

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Speaker 12: has remained defiant, saying he's not leaving office and is

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Speaker 12: able to continue doing the job despite the chaos surrounding

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Speaker 12: City Hall. Genus Cervetti Bloomberg Radio.

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Speaker 11: Severe winter weathers slammed the Eastern Seaboard over the weekend,

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Speaker 11: killing at least fifteen people across several states, including a

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Speaker 11: dozen in Kentucky, where parts of the state remained severely

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Speaker 11: flooded when some gusting over seventy miles per hour took

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Speaker 11: down telephone polls in New Jersey and huge trees all

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Speaker 11: over the Tri state region. Our Presidents Day, a number

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Speaker 11: of protests held across the nation showing support for federal

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Speaker 11: workers losing their jobs as part of the Trump administration's

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Speaker 11: push for efficiency. Ralling in downtown Seattle was this Veterans

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Speaker 11: Affairs worker.

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Speaker 6: We're all terrified.

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Speaker 13: These are people that have dedicated their entire careers to

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Speaker 13: serving veterans, and our work is being ripped away from us.

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Speaker 10: And it's scary.

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Speaker 1: It's really scary.

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Speaker 11: Nearly one thousand people marched in the snow from the

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Speaker 11: State House in Boston to City Hall, chanting Elon Muss

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Speaker 11: has to go global news twenty four hours a day,

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Speaker 11: and whatever you want it to with. Have Bloomberg News. Now,

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Speaker 11: I'm John Tucker and this is Bloomberg.

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Speaker 7: Karen.

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Speaker 3: All right, John Tucker, thank you time now for the

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Speaker 3: Bloomberg Sports Update, brought to you by Try State Audi.

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Speaker 3: Here's John stash Hour, John, good.

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Speaker 7: Morning, Good morning, Karen.

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Speaker 14: Let the hype in for the Thursday night hockey game

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Speaker 14: in Boston. The US versus Canada Part two last Saturday

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Speaker 14: in Montreal saw the US victory after those three fights

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Speaker 14: in the first nine seconds. This time they'll play for

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Speaker 14: the Four Nations Faceoff Championship. US played a tune up

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Speaker 14: game in Boston, lost to Sweden to the no scoring

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Speaker 14: after the first period of Canada earned the trip to

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Speaker 14: the final by beating Finland five to three. Nathan McKinnon

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Speaker 14: scored twice, then said, we can play better than the

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Speaker 14: first game.

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Speaker 7: We feel we can beat those guys.

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Speaker 14: I mean a last John Carlos Stanton, he was the Yankees'

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Speaker 14: best hitter in the postseason, had seven home runs with

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Speaker 14: the ALCS MVP. On his first day at Yankee camp

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Speaker 14: in Tampa, Stanton said he did all that despite pain

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Speaker 14: in both elbows and it's still bothering him and he

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Speaker 14: may not play at all in spring training.

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Speaker 7: May miss the start of this season. At Mets camp.

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Speaker 14: Starting pitcher Frankie Montas, who they signed as a free agent,

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Speaker 14: has a lot strain. They'll be shut down six to

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Speaker 14: eight weeks. Pete Alonzo also signed met the media in

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Speaker 14: Port Saint Lucy to tough about his decision to remain

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Speaker 14: a Met and.

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Speaker 7: Here we are.

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Speaker 13: We're back at it again. So it's the biggest thing

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Speaker 13: that the takeaway is that, I mean, this is a

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Speaker 13: really special place. And what makes this a special place

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Speaker 13: is the people here. I mean, we got a great,

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Speaker 13: great clubhouse. Obviously great talent, but I mean I've been

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Speaker 13: here my entire career. This the so many relationships that

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Speaker 13: I've fostered and created over the years.

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Speaker 14: And Red Sox camp, the buzz is what position will

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Speaker 14: Rapiel Devers play? Always been a third baseman, he has

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Speaker 14: led al third basemen and errors seven straight years.

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Speaker 7: They just signed Alex Bregman.

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Speaker 14: Will they move him to second base or will they

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Speaker 14: d h Devers or playim at first, he says he

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Speaker 14: only wants.

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Speaker 7: To play thirds. Big into positions.

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Speaker 14: The Angels Mike Drout been as strictly a center field

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Speaker 14: or He's moving to right in an effort to help

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Speaker 14: him avoid injuries. Trout hardly played last season with the

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Speaker 14: knee injuries, also had leg and back issues. Have missed

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Speaker 14: almost four hundred games over the last four seasons. John Stanshewer,

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Speaker 14: Bloomberg Sports, Karendiapen.

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Speaker 1: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 7: Good morning.

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Speaker 2: I'm Nathan Hager on a morning where talks are underway

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Speaker 2: on ending the war in Ukraine without Ukraine. US officials,

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Speaker 2: led by Secretary of State Marco Rubio, are now meeting

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Speaker 2: with the Russian counterparts in Saudi Arabia I or Brusla

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Speaker 2: with you. Ukrainian President Vladimir Lenski's office says his country

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Speaker 2: should not be sidelined.

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Speaker 15: It stands to reason to expect that the talks should

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Speaker 15: be held first with the Ukraine to hear our position,

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Speaker 15: to hear what we have to say, and then to

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Speaker 15: so the main thing is to avoid these bad door channels.

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Speaker 15: You know, this bad zealing. It doesn't help the situation.

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Speaker 2: You're bursilla with The Ukrainian President's office spoke to Bloomberg

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Speaker 2: ahead of these talks again now under way, and Riodd

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Speaker 2: for more. We are joined by Bloomberg new senior editor

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Speaker 2: Bill Ferries, and Bill looks as though the Ukrainian President's

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Speaker 2: Office official is not getting what he wanted here. It

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Speaker 2: is hard not to get the impression that Kiev is

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Speaker 2: sidelined right now.

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Speaker 8: Good morning, Hey, good morning, Nathan. I think that's right.

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Speaker 8: I mean, things seem to be really moving at warp

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Speaker 8: speed here when it comes to the US talks over

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Speaker 8: the future of Ukraine. Of course, it was just last

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Speaker 8: week that President Trump had that ninety minute phone call

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Speaker 8: with Russian President Vladimir Putin. After that, you know, he

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Speaker 8: announced that he would inform Ukrainian President Zelensky of the

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Speaker 8: outcome of those talks the US. Now the US team

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Speaker 8: there in Ryad having these meetings with the Russian officials

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Speaker 8: without really much of a European presence and no Ukrainian

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Speaker 8: presence there as well. The US side is pitching this

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Speaker 8: as kind of a restart and communication that really hasn't

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Speaker 8: taken place between the US and Russia since the war started.

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Speaker 8: But it's clearly clearly there are things are the momentum

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Speaker 8: is building without very much Ukrainian or European input.

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Speaker 2: And we'd heard from a foreign policy aid at the

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Speaker 2: Kremlin that they were hoping that there could be some

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Speaker 2: discussion about economic issues as well in these talks. What

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Speaker 2: is the Russian goal here in having these discussions with US.

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Speaker 8: Officials, Well, their goal is to make as much progress

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Speaker 8: in securing their gains I think in Ukraine and getting

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Speaker 8: US sanctions eased at some level. You're right, the head

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Speaker 8: of Russia's sovereign Wealth Fund, Carilli Dimitriev, is going to

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Speaker 8: possibly be a part of those talks. You know, it

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Speaker 8: would be the US said there would be tougher sanctions

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Speaker 8: coming if Russia isn't ready to deal, but there already

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Speaker 8: are very tough sanctions in place. It would be a

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Speaker 8: different thing for the US to start easing some of

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Speaker 8: those sanctions, giving a big boost to Russia's economy. But

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Speaker 8: you know, we're in a very different world now than

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Speaker 8: we were five or six weeks ago, and a lot

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Speaker 8: of things that had become standard under the Biden administration

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Speaker 8: are shifting very quickly.

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Speaker 2: And we certainly got even more clues of that just

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Speaker 2: late last week when Vice President JD. Vance appeared at

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Speaker 2: the Munich Security Conference and told Europe that he felt

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Speaker 2: like the biggest threat to the European Union was the

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Speaker 2: threat from within this idea that free speech is being

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Speaker 2: sidelined in some way. Where is Europe when it comes

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Speaker 2: to all this, Can Europe play a role here in

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Speaker 2: moving things forward.

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Speaker 7: When it comes to Ukraine.

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Speaker 8: Well, it's remarkable that we have we're asking that question

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Speaker 8: because of course this battle ground, this war is taking

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Speaker 8: place in Europe. But yeah, I think europe European leaders

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Speaker 8: are still stunned by the US position outlined by Vice

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Speaker 8: President Vance and also by Defense Secretary Pete Hegseth over

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Speaker 8: the past week there in Munich. I think a lot

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Speaker 8: of people had gathered at that speech by Vice President

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Speaker 8: Vance expecting to hear more about the US position on

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Speaker 8: Ukraine and where the war might be headed. Instead, they

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Speaker 8: got much more of a talk focused on freedom expression

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Speaker 8: and even the German election and things like that. So

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Speaker 8: it was not what a lot of people had expected.

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Speaker 8: You saw a lot of really angry European ministers and

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Speaker 8: defense leaders, and they are moving as quickly as they

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Speaker 8: can though, to see if there's something they can do

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Speaker 8: to make sure they have a seat at the table,

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Speaker 8: and they're also talking about boosting defense spending even more

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Speaker 8: than they had been before all this started happening.

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Speaker 2: In our Last Minute Bill, you talked about things moving

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Speaker 2: at warp speed when it comes to US Russia relations.

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Speaker 2: It seems like you could say the same thing when

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Speaker 2: it comes to the government efficiency effort back in Washington.

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Speaker 7: Yeah.

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Speaker 8: I think every weekend and every day we're hearing more

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Speaker 8: about the repercussions from the DOGE team's work and the

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Speaker 8: effort to lay off, primarily at least in the beginning,

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Speaker 8: some of these probationary workers. We're seeing reports now about

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Speaker 8: firings at the FDI. See the head of the head

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Speaker 8: of the food safety at the FDA has resigned, saying

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Speaker 8: that kind of the broad job cuts we're going to

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Speaker 8: make it hard to do his job. Top social security officials,

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Speaker 8: a lot of government agencies now starting to count up

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Speaker 8: the costs from layoffs that I expect would continue for

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Speaker 8: the days and weeks ahead.

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Speaker 7: And I'm Nathan Hager.

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Speaker 2: Join us again tomorrow morning for all the news you

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