Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Karen, we begin with politics and a major move by
Speaker 2: President Biden. Less than two months before he leaves office.
Speaker 2: The President has reversed course and signed a sweeping pardon
Speaker 2: order for his son Hunter. We get more from Bloomberg
Speaker 2: News Senior editor Bill Ferries.
Speaker 3: For Hunter Biden, it really wipes the slate clean for
Speaker 3: basically the entire past decade. So that includes these gun
Speaker 3: and tax charges that he had been convicted on in
Speaker 3: some cases and pled guilty on and others, and it
Speaker 3: also includes anything if there was anything out there that
Speaker 3: perhaps the legal system hadn't found at this point. It
Speaker 3: is really a complete and total pardon for all activities
Speaker 3: against the breaking US law since January twenty fourteen.
Speaker 2: Bloomberg's Bill Ferries says the President reversed his previous stand
Speaker 2: that he would not use executive powers to aid his son.
Speaker 2: He justified the pardon by saying the case against Hunter
Speaker 2: was politically tinged, excessive, and designed to break him and
Speaker 2: his son Well Nathan.
Speaker 1: Reaction is pouring into the Hunter Biden pardon. Former federal
Speaker 1: prosecutor LORII Levinson says it should not be a surprise.
Speaker 4: I think everyone needs to recognize that with the broad
Speaker 4: power that presidents have to issue pardons, they will use
Speaker 4: them for family members and they will use them for
Speaker 4: close friends because the Constitution gives them this broad pardon power.
Speaker 1: Former federal prosecutor Louri Levinson says Hunter Biden was found
Speaker 1: guilty of gun charges by a federal court in Delaware
Speaker 1: earlier this year. His sentencing in that case was set
Speaker 1: to take place next Thursday.
Speaker 2: Mc karen President, like Donald Trump, is criticizing Biden's decision.
Speaker 2: In a post on his Truth social platform, Trump said, quote,
Speaker 2: does the pardon given by Joe to Hunter include the
Speaker 2: j six hostages who have now been imprisoned for years
Speaker 2: such an abuse and miscarriage justice?
Speaker 5: End quote?
Speaker 1: Well, Nathan and Debate is brewing in Washington over President
Speaker 1: elect Trump naming Cash Betel to take over the FBI.
Speaker 1: Patel has been outspoken against the FBI's investigation into possible
Speaker 1: Russian collusion with Trump's twenty sixteen campaign. Republican Senator Mike
Speaker 1: Grounds notes Trump and nominated the current FBI director Chris Ray,
Speaker 1: and he still has three years left on his term.
Speaker 6: Once they've been nominated by the president, then the president
Speaker 6: gets the benefit of the doubt on the nomination. But
Speaker 6: we still go through a process, and that process includes
Speaker 6: advice and consent, which for the Senate means advice or consent.
Speaker 5: Sometimes.
Speaker 1: Republican Senator Mike Grounds is a guest on ABC's This
Speaker 1: Week Hear It's Sundays on Bloomberg Radio and Karen.
Speaker 2: President elect Trump is bringing someone that he has pardoned
Speaker 2: into his administration, nominating Charles Kushner as US ambassador to France.
Speaker 2: The President elect praised Kushner as a tremendous business leader, philanthropist,
Speaker 2: and deal maker. Kushner is the father of of Jared Kushner,
Speaker 2: Trump's son in law and former senior advisor. He served
Speaker 2: two years in prison for filing false tax returns, witness retaliation,
Speaker 2: and making false statements to the Federal Trade Commission. Trump
Speaker 2: pardoned Kushner near the end of his first term.
Speaker 1: He can President elect Trump is issuing a tariff threat
Speaker 1: against the so called bricks and nations if they try
Speaker 1: to move away from the dollar. In a post on
Speaker 1: truth Social Trump repeated a threat of one hundred percent
Speaker 1: tariffs unless the Bricks promise not to create a new
Speaker 1: currency or back any other currency to replace the US dollar.
Speaker 7: The Group of.
Speaker 1: Emerging Market nations that include Brazil, Russia, India, China and
Speaker 1: South Africa discussed the dollarization at a summit last year.
Speaker 1: Despite the group's rhetoric, the infrastructure that backs the dollar,
Speaker 1: such as cross border payments, will likely give the green
Speaker 1: back the edge for decades to come.
Speaker 2: Well Karen. Politics is also a major focus overseas. Marine
Speaker 2: Le Penn's National Rally party in France has threatened to
Speaker 2: support a no confidence motion against the French government unless
Speaker 2: Prime Minister Mishall Barnier makes changes to next year's budget,
Speaker 2: But Francis Finance Minister Antoine Armand tells Bloomberg News they
Speaker 2: will not accept artificial budget deadlines from the pen.
Speaker 8: The French government doesn't take in tim atoms. It's looking
Speaker 8: at the French parliamentary debate. It's respecting each and every
Speaker 8: parliamentary debate that leads to an evolution. We will take
Speaker 8: into account what is changing, but we won't be blackmailed.
Speaker 8: We are committed to reduce the deficit.
Speaker 2: French finance Minister and tuin Armand spoke with Bloomberg's Carolinkna
Speaker 2: and stocks in France right now are down seven tenths
Speaker 2: of one percent.
Speaker 1: Let's turn to the markets now, Nathan, and stocks begin
Speaker 1: the last month of the year in record of fashion.
Speaker 1: The S and P five hundred rows five points seven
Speaker 1: percent in November, its best month this year, as investors
Speaker 1: plout one hundred and forty one billion dollars into US equities.
Speaker 1: So far this year, the S and P five hundred
Speaker 1: is up twenty six and a half percent.
Speaker 2: Right now, shares of Stalantis are down eight and a
Speaker 2: half percent. The automaker's chief executive officer, Carlos Tavares, is
Speaker 2: stepping down. More on that story from Bloomberg's Denise Pellegrini.
Speaker 5: Tavaris is quitting after prophet slumped and US sales weekened
Speaker 5: at the maker of gpsuvs and Fiat cars, and temporarily
Speaker 5: the automaker will be run by an interim committee headed
Speaker 5: by Chairman John elkenn Stillentis says a new CEO will
Speaker 5: be named in the first half of this coming year.
Speaker 5: Company also says tavares views on the carmaker's future differed
Speaker 5: from those of the board and some shareholders, and Stillentis
Speaker 5: is confirming its financial guidance for the year. Bloomberg News
Speaker 5: reported in October Elkenn had begun a process to find
Speaker 5: a successor to Tavaris, but Tavaris later told reporters he
Speaker 5: would stay on until the end of his mandate in
Speaker 5: early twenty twenty six. Denise Pellogrene Bloomberg Radio.
Speaker 1: And it's time now for a look at some of
Speaker 1: the other stories making news in New York and around
Speaker 1: the world. And for that we're joined by Bloomberg's Michael Barr. Michael,
Speaker 1: Good Morning, Good Morning.
Speaker 9: Karen is increasing pressure on President elect Trump to work
Speaker 9: with President Biden and Israeli Prime Minister Netanyahoo to free
Speaker 9: hostages in gazap In a new video, American Israeli hostage Iniden,
Speaker 9: Alexander asked Trump for help, and his father Addie Alexander
Speaker 9: spoke Sunday at a rally held in Central Park in
Speaker 9: New York City.
Speaker 3: President Biden, President Trump, Prime Minister in Chinio.
Speaker 5: I call on all of you to act.
Speaker 8: This is not a moment for politics or hesitations.
Speaker 9: Aldi Alexander says, no father should hear his child plead
Speaker 9: for his life like that. Meanwhile, a fragile ceasefire between
Speaker 9: Israel and Hesbilan Lebanon remained in effect overnight. Overnight snowfall
Speaker 9: is buried western New York and Pennsylvania. One town in
Speaker 9: upstate New York already is seeing nearly fifty nine inches
Speaker 9: of snow. Frigid air that's passing over the relatively warm
Speaker 9: lake that triggered alerts and emergency declarations. In Erie, Pennsylvania.
Speaker 9: The National Guard was called up to rescue stranded drivers,
Speaker 9: where even plow drivers got stuck. Crews including the US
Speaker 9: Coast Guard in Alaska, searching the cold waters southwest of
Speaker 9: Juneo for five people who are reporting that their fishing
Speaker 9: boat was overturning. High winds and heavy snow was reported
Speaker 9: in the search area. Coast Guard spokesman Petty Officer John
Speaker 9: Highttower says they received an urgent distress caller from those
Speaker 9: aboard the fifty foot boat.
Speaker 10: It was a media report from the members of this
Speaker 10: vessel that's currently being searched for. They reported that the
Speaker 10: vessel was overturning and that was all they got. Any
Speaker 10: further attempts to reach the vessel. We were not responded
Speaker 10: to the Coast Guards.
Speaker 9: John high Tower says the boat's GPS emergency beacon led
Speaker 9: them to the area now being searched. New information about
Speaker 9: a security breach at one of New York's busiest airports
Speaker 9: during the Thanksgiving travel rush. Thirty say a stowaway discovering
Speaker 9: on board a Delta flight out of JFK to Paris
Speaker 9: is a Russian national who lives in the US and
Speaker 9: had not purchased a plane ticket. The woman remains in
Speaker 9: custody in France. Official say she somehow bypassed the document
Speaker 9: check podium and the gate agent at JFK. Global News
Speaker 9: twenty four hours a day and whenever you want it
Speaker 9: with Bloomberg News Now. I'm Michael Baron.
Speaker 1: This is Bloomberg Karent, Michael Barr.
Speaker 5: Welcome back. It's good to have you.
Speaker 9: Thank you.
Speaker 5: Yeah, nice to do.
Speaker 1: Time now for the Bloomberg Sports update brought to you.
Speaker 1: I try state Audie. Here's John stash Hour, John, good morning.
Speaker 7: The morning hearing. Today is Aaron Rodgers's forty first birthday
Speaker 7: yesterday at midlife, and for much of this season he
Speaker 7: has looked rather old, though he did throw a pair
Speaker 7: of touchdown passes in the first quarter against Seattle. Rodgers
Speaker 7: also threw one in the second quarter that he'd liked
Speaker 7: to have Backritz is.
Speaker 5: Coming through inside this kickoff.
Speaker 1: Cleio Williams coming near sign. He's running like a race horse.
Speaker 5: He's at big field.
Speaker 1: Turnto philf Blockers, Holy should you kipping? Leo Williams.
Speaker 9: He's gonna take it in for a touchdown.
Speaker 7: Cheyhawks Hi rode the Coe Williams the ex Jet with
Speaker 7: a ninety two yard return, the longest NFL history by
Speaker 7: a defensive lineman. The Seahawks came from fourteen down took
Speaker 7: their first lead with five and a half minutes left.
Speaker 7: They beat the Jets twenty six twenty one in the snow.
Speaker 7: In Buffalo, the Bills beat forty nine ers thirty five
Speaker 7: to ten. The Bills have already clinched the AFC East.
Speaker 7: Eighth straight win for Philadelphia twenty four to nineteen at
Speaker 7: Baltimore State, Huon Barkley again over one hundred yards at
Speaker 7: a twenty five yard TD run in the fourth quarter.
Speaker 7: Washington ended a three game losing the streak of forty
Speaker 7: two to nineteen round of Tennessee, Minnesota with its second
Speaker 7: five game win streak came from thirteen down, scored late,
Speaker 7: beat Arizona by a point. The Patriots lost by a
Speaker 7: point a game with seven lead changes Indianapolis a game
Speaker 7: winning eighty yard nineteen play drive at a TV and
Speaker 7: two point conversion with twelve seconds left. Next back over
Speaker 7: the long road trip started a four game homestand on
Speaker 7: one to eighteen to eighty five blowout of New Orleans.
Speaker 7: Mckel bridges at his best game as a Nick, thirty
Speaker 7: one points. He made seven threes at Barkley's Orlando bet
Speaker 7: the Nets one hundred and ninety two. The Mets have
Speaker 7: a deal to sign free agent piccher Frankie Montas two years,
Speaker 7: thirty four million. The Yankees acquired Montass from Oakland at
Speaker 7: the twenty twenty two trade deadlomit. He only won one
Speaker 7: game in eight starts. He was hurt for all but
Speaker 7: one start in twenty three. Split this past season with
Speaker 7: the Reds and Brewers from college football. West Virginia and
Speaker 7: Perdue fired their coaches. Purdue just went one and eleven.
Speaker 7: John Stanshawer Bloomberg Sports Karena Nathan all.
Speaker 1: Right, John, thank you, SMP futures down two tenths of
Speaker 1: a percent down thirteen points down, futures down a tenth
Speaker 1: of upper cent or fifty two points. Nasdaq futures down
Speaker 1: two tenths of up percent or forty eight points. Ten
Speaker 1: year Treasury yield four point two zero percent.
Speaker 9: Coast to Coast on Bloomberg Radio nationwide on Sirius XM,
Speaker 9: and around the world on Bloomberg dot Com and the
Speaker 9: bloom We're Business app.
Speaker 5: This is Bloomberg Daybreak.
Speaker 11: Good Morning.
Speaker 2: I'm Nathan Hager. It is a major reversal for a
Speaker 2: president who has said four months that he would not
Speaker 2: use his pardon powers to benefit family, even his own son.
Speaker 6: I am satisfied that I'm not going to do anything.
Speaker 6: I said, I adviye by the jury decision.
Speaker 5: I will do that and I will not partner.
Speaker 2: That was President Biden at the G seven back in
Speaker 2: June talking about his son Hunter. But last night the
Speaker 2: President did indeed issue a sweeping pardon on taxing gun charges,
Speaker 2: saying in a statement, no reasonable person could conclude that
Speaker 2: his son Hunter was singled out for any other reason
Speaker 2: than that he is the President's son. For more, we
Speaker 2: are joined by Bloomberg's Kevin Whitelaw. Kevin I guess the
Speaker 2: overarching question this morning is why now good morning, Yeah.
Speaker 11: Good morning, Nathan. You know, I think that you know,
Speaker 11: it became very clear that President Biden is increasingly worried
Speaker 11: about what would happen to his son and under a
Speaker 11: true presidency. You know, we have already seen a situation
Speaker 11: where president uh uh elect Trump has you know, stated
Speaker 11: that he's he thinks that the Justice Department was sort
Speaker 11: of weaponized against him, uh, citing the various prosecutions and
Speaker 11: investigations into into several different aspects of Trump's first term
Speaker 11: and surrounding events.
Speaker 1: Uh.
Speaker 11: And he's with a set of loyalists that he's been
Speaker 11: appointed to these key positions and and and talking about
Speaker 11: installing I think, uh, the President Biden just decided that
Speaker 11: he couldn't take the risk that his son was going
Speaker 11: to be part of sort of some ongoing uh set
Speaker 11: of uh probes, challenges, prosecutions, et cetera. It just creates
Speaker 11: an enormous challenge though for for Democrats who are who
Speaker 11: are already very worried about how they were going to make,
Speaker 11: you know, sort of apply the rule of law in
Speaker 11: in and hold a second Trump term administration into account.
Speaker 2: That puts this into the context then of President elect
Speaker 2: Trump nominating a loyalist, Cash Patel to be his next
Speaker 2: FBI director, Does that go into that context?
Speaker 7: Then?
Speaker 11: Yeah, I think it does. I think when you start
Speaker 11: to look at the some of the remarks that whether
Speaker 11: it's Kash Patel, obviously the Matt Gates appointment for Attorney
Speaker 11: General didn't didn't work out, but Pam BONDI, these are
Speaker 11: extreme loyalists. And Trump has talked about wanting to, you know,
Speaker 11: have that Justice Department be more responsive to the kinds
Speaker 11: of things that he thinks it should be. And when
Speaker 11: you have a set of people who have made it
Speaker 11: very clear that they think that there's more wrongdoing to
Speaker 11: be found. These are for a number of the people
Speaker 11: that he's appointed and surrounded himself with. I've talked for
Speaker 11: a very long time about the Hunter Biden case and
Speaker 11: with all kinds of allegations of deeper corruption, et cetera,
Speaker 11: none of which they've really ever been able to substantiate,
Speaker 11: but obviously that wouldn't necessarily stopped them from using it.
Speaker 11: And that really is a big difference in how the
Speaker 11: Justice Department has been run for the past couple of decades,
Speaker 11: and you know, ever since the next administration had really
Speaker 11: been a sense that this needed to be a bit
Speaker 11: of a hens sort of a distance, of a distance
Speaker 11: between the White House and the Justice Department, of a
Speaker 11: little bit of an independence. After all, the Justice Department
Speaker 11: under Joe Biden is the one that investigated Hunter Biden, right,
Speaker 11: So there was a sense that that's what could happen.
Speaker 11: But Trump has talked about it in ways that are
Speaker 11: extremely different, And now it's going to be a challenge
Speaker 11: even more so for Democrats who've kind of lost a
Speaker 11: little bit of the moral high ground they may have
Speaker 11: otherwise had on this issue.
Speaker 2: YEA, for President Biden to say that no reasonable person
Speaker 2: could conclude but that the case against his son was
Speaker 2: politically motivated, does that add more fuel to the argument
Speaker 2: that the President delect has been making that the justice
Speaker 2: system has been tainted by politics. Got about a minute left.
Speaker 11: Yeah, I mean, I do think that it at least
Speaker 11: gives him the to make that case more and it's
Speaker 11: one more argument that the Democrats and others would have
Speaker 11: to would have to try to push back at. But
Speaker 11: we have seen continued complaints from Trump and his aides
Speaker 11: about what they see as a politicized Justice Department. But
Speaker 11: obviously it now seems like they want to try to
Speaker 11: use it for their own purposes. You know. Of course,
Speaker 11: it's not like Biden invented the pardon power. Trump used
Speaker 11: it quite intensively in his first term, including for several
Speaker 11: key loyalists and aids around him.
Speaker 1: This is Bloomberg Daybreak, your morning podcast on the stories
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