WEBVTT - Bloomberg Daybreak: December 21, 2022 - Hour 1 (Radio) 0:00:01.800 --> 0:00:05.200 Live from the Bloomberg Interactive Burgers Studios. Is Bloomberg day 0:00:05.240 --> 0:00:08.920 Break for Wednesday, December twenty one two. Coming up this hour. 0:00:09.119 --> 0:00:12.520 Ukraine's president heads to Washington in his first trip outside 0:00:12.560 --> 0:00:15.760 the country since Russia's invasion. As committee votes to release 0:00:15.840 --> 0:00:19.479 former President Trump's tax returns. Sam Bankman freed readys for 0:00:19.520 --> 0:00:23.000 extradition to the US, and Elon Musk seeks a replacement 0:00:23.079 --> 0:00:26.479 as Twitter CEO. The NYPD says two people are dead 0:00:26.520 --> 0:00:30.319 in an apparent subway accident. Plus New York Mayor Adams says, 0:00:30.360 --> 0:00:33.239 spread the love, not the virus during the holidays. I'm 0:00:33.280 --> 0:00:37.040 Michael blar More, I'm John Stashward, sports donning baseball news, 0:00:37.040 --> 0:00:40.080 Carlos Grea changed his mind, be sunning with the Mets, 0:00:40.120 --> 0:00:44.960 the next one the Rangers, and Devil's Law. That's all 0:00:45.040 --> 0:00:48.479 s traded ahead on Bloomberg day Break on Bloomberg eleven 0:00:48.520 --> 0:00:52.960 three on New York, Bloomberg one, Washington, d C, Bloomberg 0:00:53.040 --> 0:00:56.720 one oh six one, Boston, Bloomberg nine sixties and Francisco 0:00:57.240 --> 0:01:00.000 Sirius x M one nine team and around the world 0:01:00.000 --> 0:01:03.840 Old on Bloomberg Radio dot Com and via The Bloomberg Business. 0:01:07.600 --> 0:01:10.720 Good morning. I'm Nathan Hagar and I'm Karen Moscow. US 0:01:10.800 --> 0:01:13.520 DOT index futures are on the rise this morning, and 0:01:13.600 --> 0:01:16.000 we checked the markets all day long here on Bloomberg. 0:01:16.160 --> 0:01:18.640 S and P futures are of twenty five points of 0:01:18.800 --> 0:01:21.360 seven tens of uppercent. Death Future is up about eight 0:01:21.360 --> 0:01:23.559 tens of upper cent or two hundred fifty eight points, 0:01:23.800 --> 0:01:26.560 and Azdak future is up sixtensive upper cent or seventy 0:01:26.560 --> 0:01:29.480 two points ten your treasury, that'll change, you'll three point 0:01:29.520 --> 0:01:31.440 six eight percent and they yield on the two year 0:01:31.520 --> 0:01:34.679 four point to two percent. And I'm ex screwed. Oil 0:01:34.880 --> 0:01:37.479 is up one percent this morning. Nathan, all right, Karen, 0:01:37.520 --> 0:01:39.440 thank you. We'll get back to the markets in a moment, 0:01:39.440 --> 0:01:41.199 but we begin this morning with a couple of major 0:01:41.319 --> 0:01:45.959 stories in politics. First, Ukrainian President Vladimir Zelinski is leaving 0:01:46.120 --> 0:01:49.600 Ukraine for the first time since Russia's invasion. He will 0:01:49.640 --> 0:01:53.640 address Congress in person in the nation's capital. Bloomberg Government 0:01:53.680 --> 0:01:56.120 reporter Jack Fitzpatrick says it is a big moment in 0:01:56.160 --> 0:01:58.720 the debate over a to the war torn country. It's 0:01:58.720 --> 0:02:01.840 the big deal. There have been some questions about really 0:02:01.840 --> 0:02:05.320 where House Republicans come down in the firmness of their 0:02:05.360 --> 0:02:09.160 support for Ukraine. To have a joint address to Congress 0:02:09.160 --> 0:02:13.000 and in person addressed especially, would be a very significant 0:02:13.000 --> 0:02:16.200 moment at a pivotal time, because these kinds of agreements 0:02:16.240 --> 0:02:17.840 are going to be a bit more difficult when it's 0:02:17.880 --> 0:02:21.200 a Republican House and a Democratic Senate, So any sort 0:02:21.200 --> 0:02:23.040 of show of unity with them there would be a 0:02:23.120 --> 0:02:27.000 very significant thing. Bloomberg Governments Shack Fitzpatrick reports President Biden 0:02:27.000 --> 0:02:30.480 will announce two billion dollars in additional assistance to Ukraine, 0:02:30.680 --> 0:02:35.240 plus a delivery of Patriot missile batteries to Ukraine. Meantime, 0:02:35.320 --> 0:02:39.160 Nathan and Donald Trump's tax returns are back in focus. 0:02:39.240 --> 0:02:42.280 A House committee is voted to officially release the former 0:02:42.320 --> 0:02:45.640 president's tax information to the public. Bloomberg's Amy Morris has 0:02:45.639 --> 0:02:49.240 a details from our studios in Washington. The Houseways and 0:02:49.240 --> 0:02:51.720 Means Committee signed off on a motion to release Trump's 0:02:51.760 --> 0:02:54.760 tax returns to the House of Representatives. Chairman Richard Neil 0:02:54.840 --> 0:02:57.880 says personal information will be redacted. This was not about 0:02:57.919 --> 0:03:01.280 being punitive, it was not about being malicious, and there 0:03:01.280 --> 0:03:04.320 were no leaks from the committee. The analysis found Trump 0:03:04.360 --> 0:03:07.800 was able to use questionable deductions and aggressive tax strategies 0:03:07.840 --> 0:03:10.400 to minimize his tax bills, and that the I r 0:03:10.560 --> 0:03:13.040 S did not audit Trump for two years while he 0:03:13.120 --> 0:03:15.880 was in office, despite a program that makes the auditing 0:03:15.919 --> 0:03:20.040 of sitting president's mandatory. Republicans say releasing the information sets 0:03:20.080 --> 0:03:23.840 a dangerous precedent in Washington. I'm anymore, as Bloomberg daybreak, 0:03:23.880 --> 0:03:26.200 All right, Amy, thank you. Now, let's turn to Elon 0:03:26.280 --> 0:03:28.840 Musk and the latest in his sanga as head of Twitter. 0:03:29.280 --> 0:03:31.880 Musk now says he will step down as CEL once 0:03:31.880 --> 0:03:35.320 a replacement is found, Bloomberg said, backs to reports, It 0:03:35.400 --> 0:03:39.120 comes as the Federal Trade Commission deepens its investigation into 0:03:39.160 --> 0:03:42.600 Twitter's use of user data. The Federal Trade Commission has 0:03:42.640 --> 0:03:46.880 interviewed two former senior executives of Twitter already regarding privacy 0:03:47.080 --> 0:03:51.280 and data security. Now practices is the issue, and whether 0:03:51.320 --> 0:03:54.360 it's complying with a twenty eleven consent order. Since Elon 0:03:54.440 --> 0:03:57.040 Musk has taken over, the FDC has shown it as 0:03:57.120 --> 0:04:00.520 not afraid to levy ft defines. It did find Facebook 0:04:00.520 --> 0:04:04.560 a record five billion dollars over the Cambridge Analytica data scandal. 0:04:04.920 --> 0:04:07.240 This can't be welcome news from Musk, who has fired 0:04:07.240 --> 0:04:10.720 many of his oversight team and attorneys. Musk, by the way, 0:04:10.800 --> 0:04:14.320 says he will oversee the software and servers teams in 0:04:14.440 --> 0:04:17.599 San Francisco. I'm at Baxter Bloomberg daybreak. All right, and 0:04:17.720 --> 0:04:20.839 thank you. As a turmoil at Twitter continues, Tesla shares 0:04:20.880 --> 0:04:24.159 are declining and ARC Investment CEO Cathy Wood is scooping 0:04:24.200 --> 0:04:27.279 them up. Exchange traded funds backed by ARC bought slightly 0:04:27.320 --> 0:04:29.680 more than four d forty five thousand shares of the 0:04:29.720 --> 0:04:32.760 company since early October. This is the first quarter and 0:04:32.880 --> 0:04:35.360 seven that ARC has been a net buyer of Tesla. 0:04:35.720 --> 0:04:38.760 Right now, shares are higher in early trading. They're up 0:04:38.760 --> 0:04:41.000 about two and a quarter percent. All right, Let's turn 0:04:41.040 --> 0:04:43.599 from Twitter down to Crypto Karen and the latest on 0:04:43.760 --> 0:04:46.479 Sam Bankman Freed, the ft X co founder, could be 0:04:46.520 --> 0:04:49.440 making his way state signed from the Bahamas as soon 0:04:49.480 --> 0:04:52.440 as today. Bloomberg Steve Rappaport joins US Live with that story. 0:04:52.480 --> 0:04:55.800 Good morning, Good morning, Nathan, and Karen. Spf is halfway 0:04:55.800 --> 0:04:58.520 through the process of returning to the US, having signed 0:04:58.520 --> 0:05:02.599 his surrender documents. According of the Island's acting Commissioner of Corrections. Today, 0:05:02.680 --> 0:05:05.840 Bankman Freed will sign a waiver of extradition before FBI 0:05:05.920 --> 0:05:08.640 agents are expected to take him away on a private flight. 0:05:08.960 --> 0:05:11.680 Bankman Freed initially vowed to fight extradition to the US 0:05:11.760 --> 0:05:14.320 to face fraud, money laundering, and other charges related to 0:05:14.360 --> 0:05:16.840 the collapse of his firm. His change of heart tied 0:05:16.880 --> 0:05:19.359 in part to the possibility of getting released on bail. 0:05:19.440 --> 0:05:22.599 Here live in New York. I'm Steve Rappaport, Bloomberg Daybreak. 0:05:22.720 --> 0:05:24.440 All right, Steve, thank you all. Taking a look in 0:05:24.520 --> 0:05:29.240 markets now. European stocks are advancing alongside US stock index futures. 0:05:29.320 --> 0:05:32.000 Yesterday saw the SNP five hundred clothes higher for the 0:05:32.000 --> 0:05:34.599 first time in four sessions. Equities have been on a 0:05:34.640 --> 0:05:37.680 recent skid due to concerns over central bank tightening. Ye. 0:05:37.800 --> 0:05:40.000 Speaking of central banks, Karen, this week's move from the 0:05:40.000 --> 0:05:43.599 Bank of Japan continues to reverberate across markets. The yen 0:05:43.839 --> 0:05:46.719 is steady this morning, after yesterday's strong move, which saw 0:05:46.760 --> 0:05:50.599 the currency strengthened the most since Taking a look at 0:05:50.640 --> 0:05:52.480 the end. Right now, it's trading at one thirty one 0:05:52.520 --> 0:05:56.080 point six nine against the dollar. Bloomberg Opinion Columns. Muhammad 0:05:56.120 --> 0:05:58.960 al Arian says the bo j's move provides some stability, 0:05:59.040 --> 0:06:03.000 but also area's risk. This is the step towards normalization. 0:06:03.200 --> 0:06:04.760 The good news for them is I think that can 0:06:04.760 --> 0:06:07.799 control the process. That's actually good news for global markets 0:06:08.040 --> 0:06:13.279 because it doesn't force selling by Japanese institutions. However, over 0:06:13.400 --> 0:06:18.200 time even this approach becomes unsustainable. Bloomberg Opinion columnist Muhammadalarian 0:06:18.240 --> 0:06:21.039 expects a slow exit from what he calls the BOJS 0:06:21.120 --> 0:06:24.920 unsustainable policy regime. Well, let's turn to China now. Nathan 0:06:24.960 --> 0:06:28.599 and has continued pivot away from COVID zero policy. Chinese 0:06:28.600 --> 0:06:31.000 workers of mild COVID are now being told to go 0:06:31.080 --> 0:06:33.800 back to work in some cities. This is Chinese officials 0:06:33.800 --> 0:06:36.440 seek to limit the economic impact of an explosion in 0:06:36.520 --> 0:06:40.040 cases Beijing. Shift from COVID zero has been accompanied by 0:06:40.120 --> 0:06:43.640 a wave of infections in major urban centers across the country. 0:06:44.080 --> 0:06:47.600 Futures this morning are on the rise. SMP futures up 0:06:47.600 --> 0:06:50.680 twenty three points. That's up about six tenths of uppercent, 0:06:50.800 --> 0:06:53.279 DAL futures up two thirty nine or seven tenths of 0:06:53.360 --> 0:06:56.400 uppercent and NASDACK futures up about six tenths of uppercent 0:06:56.760 --> 0:07:03.800 Your latest local headlines straight ahead this is Bloomberg experien 0:07:03.839 --> 0:07:06.760 its degrees chili this morning in Central Park. Gonna be 0:07:06.839 --> 0:07:10.040 sunny and cool today with higher forty, but wait ray 0:07:10.160 --> 0:07:14.800 for some heavy rain to end the week. Now here's 0:07:14.800 --> 0:07:16.640 Michael bar with a look at some of the other 0:07:16.680 --> 0:07:19.000 stories making news in New York and around the world. 0:07:19.000 --> 0:07:21.080 Good morning, Michael, Good morning Nathan. N y p D 0:07:21.200 --> 0:07:24.680 officials are investigating an apparent deadly accident that took place 0:07:24.680 --> 0:07:27.600 in the subway in Manhattan. Two people were run over 0:07:27.640 --> 0:07:31.080 by several l trains yesterday. The victims were a forty 0:07:31.120 --> 0:07:33.520 four year old man and a sixty three year old woman. 0:07:33.840 --> 0:07:37.080 It left several horror five commuters in their wake. This 0:07:37.120 --> 0:07:39.600 woman saw the bodies at the sixth Avenue stop at 0:07:39.640 --> 0:07:42.160 the time. I told some guy that was waiting for 0:07:42.160 --> 0:07:43.840 the chain across to me, I'll make this too. Their 0:07:43.920 --> 0:07:46.880 bodies on there. He was like, you're kidding, and I said, no, Look, 0:07:46.920 --> 0:07:50.360 you're stepping in blood. The officials are still investigating how 0:07:50.400 --> 0:07:52.880 the bodies ended up on the tracks, but they say 0:07:52.920 --> 0:07:55.760 they don't believe the victims were connected and their deaths 0:07:55.800 --> 0:07:58.640 don't appear to be a crime. A last minute plead 0:07:58.800 --> 0:08:02.160 from New York City Mayor Eric Adams as holiday travelers 0:08:02.200 --> 0:08:05.760 continue to arrive, even as flue rs V and COVID 0:08:05.840 --> 0:08:10.200 nineteen cases continued to rise nationwide. Mayor Adams encourage New 0:08:10.280 --> 0:08:13.480 Yorkers to remain vigilant of the risks of these respiratory 0:08:13.520 --> 0:08:17.880 infections now under winter. How do we enjoy the holidays 0:08:17.960 --> 0:08:22.200 and spread love without spread into virus and we could 0:08:22.240 --> 0:08:26.280 have that combination. Mayor Adams encourages New Yorkers to be 0:08:26.440 --> 0:08:30.400 sure they test before gatherings and consider masking up. Winter 0:08:30.560 --> 0:08:32.600 storm is hitting the nation at the height of the 0:08:32.640 --> 0:08:37.080 holiday travel. Bloomberg meteorologist Rob Carolin as the latest Michael 0:08:37.120 --> 0:08:39.120 some of the coldest weather we've seen in forty years 0:08:39.120 --> 0:08:41.920 now starting to work its way into the northern Plain States. 0:08:41.960 --> 0:08:45.280 Temperatures from northern Montana into North Dakota are well below 0:08:45.360 --> 0:08:48.280 zero this morning. That air is going to be headed southward. 0:08:48.280 --> 0:08:51.199 It's gonna move down towards the Gulf of Mexico, affect 0:08:51.240 --> 0:08:53.800 Texas and much of the century United States by the 0:08:53.920 --> 0:08:55.800 end of the week, and will also affect the western 0:08:55.800 --> 0:08:58.319 Gulf Coast out ahead of this cold there. Over the 0:08:58.400 --> 0:09:00.800 next thirty six hours, we'll see a big storm developed 0:09:01.040 --> 0:09:03.160 it will go up through the central Great Lakes. That's 0:09:03.160 --> 0:09:06.520 going to produce a very significant snowstorm across parts of 0:09:06.520 --> 0:09:09.840 the central United States, with blizzard conditions possible around the 0:09:09.920 --> 0:09:14.040 Chicago Milwaukee areas, also across western Michigan. It's gonna cause 0:09:14.120 --> 0:09:16.320 quite a bit of rain and wind out ahead of 0:09:16.360 --> 0:09:19.199 the storm. Will see that effect portions of the mid 0:09:19.240 --> 0:09:22.040 Atlantic States in the Northeast as we head through Friday, 0:09:22.040 --> 0:09:24.760 So travel will be very difficult in the Northeast and 0:09:24.800 --> 0:09:29.120 Midwest on Friday. Michael, Yes, thanks rob Global News twenty 0:09:29.120 --> 0:09:31.600 four hours a day on air and Bloomberg Quick Take 0:09:31.640 --> 0:09:34.679 powered about more than journalists antialists more than a d 0:09:34.800 --> 0:09:38.280 twenty countries. Michael bar this is Bloomberg. Nathan. All right, Michael, 0:09:38.280 --> 0:09:44.720 thank you. It's time for the Bloomberg Sports Up Day, 0:09:44.760 --> 0:09:46.600 brought to you by try stayed out EA. Good morning, 0:09:46.679 --> 0:09:49.920 John Stash, Good morning, Nathan. The amazing Mets. Just when 0:09:49.960 --> 0:09:52.880 you thought they're freege and spending spring was over, came 0:09:52.920 --> 0:09:55.760 the stunning news earlier this morning that the Mets are 0:09:55.800 --> 0:09:58.360 now add in Carlos Carea. He had agreed last week 0:09:58.360 --> 0:10:01.079 to a thirteen year deal with the Giant. Press conference 0:10:01.160 --> 0:10:04.680 was supposed to take place yesterday got postponed. Reportedly difference 0:10:04.720 --> 0:10:07.319 of opinion about the results of Korea is physical. The 0:10:07.440 --> 0:10:10.640 Mets swooped in got Korea for twelve years, three hundred 0:10:10.679 --> 0:10:12.839 and fifteen million. He's always been a short stop. The 0:10:12.880 --> 0:10:15.000 plan is to move them. The third base. Nets have 0:10:15.040 --> 0:10:18.720 now guaranteed eight hundred million dollars just in free agents spending. 0:10:18.720 --> 0:10:21.120 They have to pay at tax of three hundred and 0:10:21.160 --> 0:10:24.719 eighty million justin Verlanders getting forty three million. He was 0:10:24.760 --> 0:10:26.720 at City Field to talk about coming to New York. 0:10:26.880 --> 0:10:30.000 Lived in New York for an off season. Um. I 0:10:30.040 --> 0:10:31.880 love the vibe here, I love the city, I love 0:10:31.960 --> 0:10:34.880 the people, and to have the opportunity to to come 0:10:34.880 --> 0:10:38.440 pitch in the city, um is something that I think 0:10:38.440 --> 0:10:41.480 I've I've always wanted the chance to do. The Aar 0:10:41.559 --> 0:10:43.920 and Judge press conferences today and the Bronx will be 0:10:43.960 --> 0:10:45.880 interesting to see if the Yankees announced the Judge will 0:10:45.920 --> 0:10:48.679 become the team captain. At the Garden blowout win for 0:10:48.679 --> 0:10:51.360 the Knicks over injury Riddle, Golden Stained one thirty two, 0:10:51.440 --> 0:10:53.199 the ninety four the Knicks and one eight in a 0:10:53.280 --> 0:10:56.480 row the Hills Toronto Tonight, the Warriors played tonight in Brooklyn. 0:10:56.520 --> 0:10:58.160 The Rangers were going for an eighth straight win and 0:10:58.240 --> 0:11:01.080 Chris Cryder scored twenty two second van but Pittsburgh one 0:11:01.120 --> 0:11:03.840 three to two. The Devil's, who earlier this season had 0:11:03.840 --> 0:11:06.080 a thirteen game one is Dreeca now lost their last 0:11:06.120 --> 0:11:09.040 six meeting by Carolina four to one. Seaton Hall lost 0:11:09.040 --> 0:11:11.600 the Big East game at Xavier seventy three to seventy. 0:11:11.640 --> 0:11:15.120 Yukon be Georgetown the Hoskins, and oh the Jets does 0:11:15.240 --> 0:11:17.880 Jacksonville tomorrow night and Zack Wilson will again be the 0:11:17.920 --> 0:11:22.280 Jets starting quarterback. John Stashward, Bloomberg Sports, Nathan all Right, John, 0:11:22.320 --> 0:11:25.360 thank you, and Bloomberg Sports was brought to you by 0:11:25.480 --> 0:11:27.959 Audie Don't let someone else drive off and the Audi 0:11:28.040 --> 0:11:30.920 Model You've always wanted to visit your local Tri state 0:11:30.960 --> 0:11:33.920 Audie dealer to get behind the wheel of yours today, 0:11:34.040 --> 0:11:38.120 or visit Autie Offers dot com for more information. Just ahead, 0:11:38.120 --> 0:11:41.240 we'll get the latest on President Zelenski's trip to the 0:11:41.320 --> 0:11:45.040 nation's capital. First, we look at markets and to see 0:11:45.040 --> 0:11:48.640 futures moving higher, with SMP futures up twenty three points, 0:11:48.640 --> 0:11:51.640 staff futures up two hundred forty one Nastack futures are 0:11:51.679 --> 0:11:54.439 highed by sixty four points in the tenure treasury is 0:11:54.440 --> 0:11:57.160 a little changed right now yield on the benchmark ten 0:11:57.240 --> 0:12:03.840 year note three point six eight percent. Live from coast 0:12:03.920 --> 0:12:07.559 to coast, from New York to San Francisco, Boston to Washington, 0:12:07.640 --> 0:12:11.440 d C. Nationwide on Sirius Examp, the Bloomberg Business app, 0:12:11.480 --> 0:12:16.320 and Bloomberg dot Com. This is Bloomberg Daybreak. Good morning, 0:12:16.360 --> 0:12:18.760 I'm Nathan Hager. Let's get back to our top story 0:12:18.840 --> 0:12:21.199 this morning. What could be a dramatic few hours in 0:12:21.240 --> 0:12:26.800 the nation's capital as President Zelensky goes to Washington. Bloomberg's 0:12:26.800 --> 0:12:30.400 Bruce Einhorn joins us now with more on this. Bruce, 0:12:30.559 --> 0:12:34.360 good morning. What a statement this is that the first 0:12:34.400 --> 0:12:37.280 trip that President Zelensky is going to make outside his 0:12:37.400 --> 0:12:41.000 country since the war began is to the United States. 0:12:41.040 --> 0:12:43.080 It says a lot about the level of support this 0:12:43.200 --> 0:12:49.000 country has given to Ukraine in its war against Russia. Yes, 0:12:49.040 --> 0:12:52.680 and it also shows them the important to that President's 0:12:52.760 --> 0:12:57.959 landscape places on making sure that that support continues going forward. 0:12:58.480 --> 0:13:02.360 The big issue that Ukraine faces in Washington is the 0:13:02.480 --> 0:13:06.720 upcoming takeover as the House represented by Republicans UM. Some 0:13:06.840 --> 0:13:11.400 Republicans have expressed skepticism about the level of support that 0:13:11.440 --> 0:13:15.520 the US has given to Ukraine. UM. People like Marjorie 0:13:15.559 --> 0:13:20.520 Taylor Green have criticized the US and then bide administration 0:13:20.640 --> 0:13:25.000 for its support from Ukraine. UM. Quite a lot of Republicans, 0:13:25.200 --> 0:13:29.800 including the Senate Senate Leader Mitch McConnell, the leader of 0:13:29.880 --> 0:13:34.319 Republicans of the Senate UM, have expressed want support from Ukraine. 0:13:35.120 --> 0:13:38.080 That said, there is you know, there's reason for for 0:13:38.679 --> 0:13:42.360 Presidents Olinska and others to be concerned UM that UM, 0:13:42.640 --> 0:13:44.880 they need to shore up their support in Washington. And 0:13:45.000 --> 0:13:49.000 so this speech in front of a joint session of Congress, 0:13:49.000 --> 0:13:53.560 that's give the Ukrainian president opportunity to to address some 0:13:53.640 --> 0:13:56.760 of those some of those districts. And we are expecting 0:13:56.800 --> 0:13:59.160 as well that the President Biden, during a joint news 0:13:59.200 --> 0:14:02.360 conference at the i Had House with the President of Ukraine, 0:14:02.440 --> 0:14:05.720 is going to announce that he has indeed decided to 0:14:05.840 --> 0:14:10.920 deliver a Patriot UH anti air missile systems to Ukraine 0:14:11.040 --> 0:14:15.280 as well. Tell us more about the significance of patriots. 0:14:15.360 --> 0:14:19.800 This is something that President Zelinski has been really asking 0:14:20.080 --> 0:14:23.960 strongly for from the United States or some time. Yes, 0:14:24.760 --> 0:14:28.200 with good reason because of course Ukraine and being hit 0:14:28.760 --> 0:14:34.720 almost on a daily basis by drones, missiles coming from Russia, 0:14:34.880 --> 0:14:42.520 attacking civilian targets, attract attacking the energy, good h other infrastructure. 0:14:42.920 --> 0:14:47.960 So having the Patriot or Defense system would provide Ukraine 0:14:48.040 --> 0:14:52.640 with a valuable tool to to fight that. Um. The 0:14:52.680 --> 0:14:57.000 Patriots would be part of a new assistance package that 0:14:57.040 --> 0:15:00.840 would be worth nearly two billion dollars that President Biden 0:15:01.200 --> 0:15:05.320 is going to be announcing today. Uh. This also comes 0:15:05.320 --> 0:15:09.480 at a time when Congress is pois approved billion dollars 0:15:09.520 --> 0:15:11.800 in new aid for Ukraine. This is part of the 0:15:11.800 --> 0:15:15.040 big homicist spending bill that Congress is likely to pass 0:15:15.440 --> 0:15:21.480 within the next few days. So um uh many many uh. 0:15:22.400 --> 0:15:24.560 The signs of support for Ukraine at the moment, But 0:15:24.600 --> 0:15:27.960 again um, the Ukrainians do have to be concerned about 0:15:28.280 --> 0:15:33.080 just maintaining that. Um with the change in control of 0:15:33.120 --> 0:15:35.600 the House in the next few weeks. And as if 0:15:35.600 --> 0:15:38.600 the arrival of the Ukrainian president weren't enough, we have 0:15:38.720 --> 0:15:42.240 another major development coming out of Washington, something that former 0:15:42.280 --> 0:15:46.600 President Trump has been fighting for literally years. His tax 0:15:46.600 --> 0:15:51.800 returns are about to be made public. Yeah. So um 0:15:52.000 --> 0:15:55.960 soon after the Democrats one control of Congress back in 0:15:56.000 --> 0:15:58.840 two thousand and nineteen. The housewives and needs to be 0:15:59.520 --> 0:16:02.440 uh in the to the procedure to get the former 0:16:02.480 --> 0:16:08.120 president's tax returns. Uh. Trump um has litigated that um 0:16:08.160 --> 0:16:12.160 newly ran out the block here um but ultimately uh 0:16:13.000 --> 0:16:17.200 lost on the committee does have the returns. The committee 0:16:17.360 --> 0:16:22.040 voted yesterday on party line basis to release the returns. Uh. 0:16:22.080 --> 0:16:25.440 It'll probably still be a few days maybe people we 0:16:25.520 --> 0:16:28.760 actually um see those released because they do have to 0:16:28.800 --> 0:16:33.400 redact some things um. Uh some personal information for instanceance 0:16:33.600 --> 0:16:38.080 truly members that sort of thing. Um. However, we do 0:16:38.280 --> 0:16:43.120 have from Richard Neal, the chairman of the committee, the 0:16:43.160 --> 0:16:48.760 report about the audit that took place of the President 0:16:48.760 --> 0:16:51.680 Trump's returns while he was while his president so U 0:16:51.680 --> 0:16:55.240 from two thousand and seventeen onwards. Um. And there was 0:16:55.520 --> 0:17:00.760 pretty sharp criticism from from Congressman Meal about how that 0:17:02.600 --> 0:17:06.359 how that transpired. According to the chairman of the Way 0:17:06.440 --> 0:17:10.440 the Needs Commute, there was almost nothing done in terms 0:17:10.480 --> 0:17:13.720 of the audit of President Trump's returned during those years, 0:17:14.359 --> 0:17:17.720 which is a contrary to standard policy, which is that 0:17:17.840 --> 0:17:19.919 the i RS does an audit of the president and 0:17:19.960 --> 0:17:23.960 the Vice president UM. According to Meil, that didn't really 0:17:23.960 --> 0:17:27.879 happen until he made he sent a letter to to 0:17:27.960 --> 0:17:32.159 the RS in two thousand and nineteen uh and said 0:17:32.320 --> 0:17:37.399 that he needed to see this information. UM. According to Kneel, 0:17:37.480 --> 0:17:40.640 this what the shows is that there's there's a need 0:17:40.720 --> 0:17:46.360 for a bill that would require i RS to audit. Yeah, 0:17:46.440 --> 0:17:49.440 the changes to the i R s expected to come 0:17:49.440 --> 0:17:53.240 out of this fight that the president has been mounting 0:17:53.280 --> 0:17:55.960 for some time. Bruce Einhorn with us this morning for 0:17:56.040 --> 0:17:58.359 the latest from the nation's capital. Thanks for this first. 0:17:58.400 --> 0:18:04.520 This is Bloomberg Markets headlines and breaking new ones twenty 0:18:04.520 --> 0:18:07.359 four hours a day at Bloomberg dot Com, the Bloomberg 0:18:07.400 --> 0:18:10.320 Business at Land at Bloomberg Quick Take. This is a 0:18:10.359 --> 0:18:20.400 Bloomberg Business Flash and I'm Karen Moscow and European stocks 0:18:20.440 --> 0:18:23.679 are rising this morning alongside US stock index. Futures at 0:18:23.680 --> 0:18:26.440 the SNP five hundred close higher for the first time 0:18:26.440 --> 0:18:28.639 in four sessions. And we check the markets all day 0:18:28.680 --> 0:18:32.040 long year on Bloomberg SMP futures up twenty four points down, 0:18:32.040 --> 0:18:34.159 futures up two hundred fifty three. That's up almost eight 0:18:34.200 --> 0:18:37.280 tenths of uppercent and Nasdack future is up sixty five 0:18:37.400 --> 0:18:40.000 or six tenths of uppercent. The decks in Germany's up 0:18:40.040 --> 0:18:42.840 eight tenths of upper sent the tenure treasury little change. 0:18:42.840 --> 0:18:44.840 You'll three point six eight percent yield on the two 0:18:44.920 --> 0:18:47.560 year four point to two percent nine Max screwed oil 0:18:47.640 --> 0:18:49.600 up win and a quarter percent of ninety seven cents 0:18:49.600 --> 0:18:52.119 at seventy seven dollars twenty cents of barrel co Max 0:18:52.160 --> 0:18:55.040 School little change. In eighteen twenty four thirty announced the 0:18:55.080 --> 0:18:57.720 euro one point six two two against the dollar, British 0:18:57.720 --> 0:19:00.600 pound one point two one three one, the yen one 0:19:00.640 --> 0:19:04.320 point six four. Bitcoin is little changed at about sixteen thousand, 0:19:04.400 --> 0:19:07.040 eight hundred dollars, and we're watching shares of Nike up 0:19:07.080 --> 0:19:11.000 almost this morning. It posted another quarter of inventory build 0:19:11.080 --> 0:19:14.119 up a but quarterly sales exceeded Wall Street estimates and 0:19:14.119 --> 0:19:16.720 as a Bloomberg business flash now here Smuckel bar with 0:19:16.800 --> 0:19:19.240 Moore on what's going on around the world. Unchal, Good morning, 0:19:19.280 --> 0:19:21.840 Good morning, Karen. The House Ways A Means Committee voted 0:19:21.880 --> 0:19:25.080 to release former President Trump's tax information to the public. 0:19:25.520 --> 0:19:29.000 So far, we have learned that dozens of audit triggers 0:19:29.240 --> 0:19:34.600 littered Trump's tax returns. According to Congress's top nonpartisan tax lawyers, 0:19:34.640 --> 0:19:40.720 there are questionable private jet expenses and large, unsubstantiated charitable deductions, 0:19:41.119 --> 0:19:44.639 yet none of them have been seriously owned it. Ukrainian 0:19:44.680 --> 0:19:47.760 President voladimir's Lensky is making his way to Washington for 0:19:47.800 --> 0:19:51.480 a summit with President Joe Biden and to address Congress Today. 0:19:51.920 --> 0:19:54.480 In the NBA, the Next beat the Warriors one thirty 0:19:54.520 --> 0:19:57.240 two ninety four, the Wizards one. In the NHL, the 0:19:57.359 --> 0:20:00.480 Rangers and Devils lost. Global News twenty We're hours a 0:20:00.560 --> 0:20:03.320 day on here or and on Bloomberg Quick take powered 0:20:03.320 --> 0:20:07.199 by more than journalists and analysts more than twenty countries. 0:20:07.520 --> 0:20:10.040 Micha La Barre and this is Bloomberg. All right, Michael, 0:20:10.040 --> 0:20:12.239 thank you. This five twenty three on Wall Street. I'm 0:20:12.320 --> 0:20:15.080 Nathan Hagar and this is Bloomberg day Break. Now let's 0:20:15.080 --> 0:20:18.520 get back to elon Musk and Twitter that Saga isn't 0:20:18.600 --> 0:20:22.080 going away, but now after a rocky few weeks as CEO, 0:20:22.359 --> 0:20:25.840 looks like Musk is indeed going to do as promised 0:20:25.840 --> 0:20:28.359 in hand over the reins at the social network, but 0:20:28.359 --> 0:20:31.440 he won't be going too far. Let's bring in Alex Webb, 0:20:31.480 --> 0:20:34.160 who has been following the Twitter Musk saga very closely. 0:20:34.200 --> 0:20:37.600 Are Bloomberg Quick Take correspondent back with us this morning 0:20:37.640 --> 0:20:41.359 and Alex I love the headline on this piece on 0:20:41.400 --> 0:20:44.159 the terminal from our colleague Kurt Wagner. Elon Musk is 0:20:44.200 --> 0:20:47.800 finally running out of gas at Twitter. What are your 0:20:47.800 --> 0:20:52.200 thoughts on how things have gone over the last seven weeks? Gosh, yeah, 0:20:52.200 --> 0:20:54.800 he's been a It's been a month or two, hasn't it. Yeah, 0:20:55.119 --> 0:20:59.720 the he's stepping down the CEO. Is he leaving the company? 0:21:00.960 --> 0:21:03.960 He's going to be running the engineering and server teams. 0:21:04.440 --> 0:21:06.720 If you look at what's happened to headcount at Twitter, 0:21:06.760 --> 0:21:10.240 they had seven half thousand employees when he joined. That's 0:21:10.280 --> 0:21:13.960 dropped by about through firings and departures by about five thousand. 0:21:14.359 --> 0:21:18.800 What is left will presumably mostly server and engineering teams. 0:21:18.960 --> 0:21:21.600 So he's in a situation where he's going to sit 0:21:21.640 --> 0:21:23.359 down the CEO, but he's still going to be running 0:21:23.440 --> 0:21:25.720 a large trunk of the company. He's still going to 0:21:25.840 --> 0:21:29.959 be the controlling shareholder breathing down the neck of whoever 0:21:30.200 --> 0:21:34.080 is the actual CEO. UM I suspect this is more 0:21:34.119 --> 0:21:38.480 about how the company is presented outwardly. Not least it's advertisers. 0:21:38.520 --> 0:21:40.920 Those are its customers. Those are the people that it's 0:21:40.960 --> 0:21:44.239 been losing. Um. As our colleagues reported last week, they 0:21:44.240 --> 0:21:45.719 put us in the room with some of the meetings 0:21:45.720 --> 0:21:49.000 that Elon Musk has had with advertisers. Those meetings don't 0:21:49.040 --> 0:21:52.800 always seem to have gone particularly well. Um, he needs 0:21:52.800 --> 0:21:56.280 somebody who was experienced sitting in front of brands, in 0:21:56.320 --> 0:21:59.640 front of ad agencies and going, here's why it's worth 0:21:59.640 --> 0:22:02.240 advertis is gonnaur platform. You don't need to worry about 0:22:02.240 --> 0:22:06.200 these risks. Please give us your money. Um. I suspect 0:22:06.440 --> 0:22:07.879 that is the sort of person who's going to be 0:22:07.880 --> 0:22:10.600 looking to hire while he gets on behind the scenes, 0:22:10.640 --> 0:22:12.399 to the extent that Elon must never be t really 0:22:12.480 --> 0:22:16.159 behind the scenes trying to fix um some of the 0:22:16.160 --> 0:22:18.000 problems he sees with the company. Well, we've had a 0:22:18.040 --> 0:22:21.280 couple of names bandied about in the reporting and walk 0:22:21.400 --> 0:22:25.280 us through a couple of potential CEOs. Whether those are 0:22:25.280 --> 0:22:28.679 the kind of people that Elon Musk might have in 0:22:28.720 --> 0:22:32.120 mind to address some of those issues that you just outlined. 0:22:32.800 --> 0:22:35.600 So the you know, the name that seemingly a lot 0:22:35.600 --> 0:22:38.240 of people would like is Cheryl Sandberg. You know, she 0:22:38.440 --> 0:22:41.520 built much of the advertising model at Google. She built 0:22:41.560 --> 0:22:46.159 the advertising model at Facebook. Now meta, would she be 0:22:46.200 --> 0:22:50.080