Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today, care.
Speaker 3: And we begin with the latest sun efforts to end
Speaker 3: the war in Ukraine. Russian President Vladimir Putin has refused
Speaker 3: President Trump's request for a thirty day ceasefire. The Kremlin
Speaker 3: says Putin agreed only to decrease attacks on Ukraine's energy infrastructure,
Speaker 3: while imposing several conditions, including suspending US arms and intelligence
Speaker 3: support for Ukraine. However, the White House readout says Trump
Speaker 3: and Putin agreed to an energy and infrastructure ceasefire.
Speaker 1: Trump spoke last night with Fox News.
Speaker 4: Well, you have a situation. We have a lot of
Speaker 4: guns pointing at each other foolishly because it would have
Speaker 4: never happened. Ibout, we're president. That was not a war
Speaker 4: that was supposed to happen, and it did happen. So
Speaker 4: that's where we are, and right now you have a
Speaker 4: lot of guns pointing at each other, and the ceasefire
Speaker 4: without going a little bit for there would have been tough.
Speaker 1: Although Ukraine was the focus of the call.
Speaker 3: The White House also says President's Trump and Putin discussed
Speaker 3: improving bilateral ties, including quote enormous economic deals and geopolitical
Speaker 3: stability when peace has been achieved.
Speaker 2: Well, Nathan, there's plenty of reaction around the world to
Speaker 2: the Trump Putin phone call. Retired Lieutenant General Ben Hodges,
Speaker 2: the former commanding General of US Army Europe, tells Bloomberg's
Speaker 2: Balance of Power that he was expecting the worst.
Speaker 5: I was expecting that we were going to hear that
Speaker 5: the President had agreed to recognize Russian occupation of Crimea,
Speaker 5: agree to Russian demands for elections in Ukraine, and things
Speaker 5: like that. So the fact that we didn't hear those
Speaker 5: is is better than if.
Speaker 2: We had and retired to Lieutenant General Ben Hodges. To
Speaker 2: hear the full conversation, download the Bloomberg Balance of Power
Speaker 2: podcast or watch it on the Bloomberg podcast page on
Speaker 2: YouTube and Karen.
Speaker 3: President Trump is also weighing in on his trade war
Speaker 3: with Canada, and in his interview with Fox News host
Speaker 3: Laura Ingram, of.
Speaker 4: The nastiest countries to deal with this Canada. The people
Speaker 4: that now this was Trudeau, the people that good old
Speaker 4: Justin I call him Governor Trudeau. His people were nasty
Speaker 4: and they weren't telling the truth. They never told the truth.
Speaker 3: Still, the President says he'd rather deal with Justin Trudeau's
Speaker 3: Liberal Party and the new Prime Minister Mark Carney to.
Speaker 1: Resolve his dispute with Canada.
Speaker 3: Trump also took a job at the Conservative who will
Speaker 3: be running against Carney in the next election. He says,
Speaker 3: Pierre Poulievra is quote stupidly no friend of mine.
Speaker 2: Well, Nathan. President Trump may be facing a new dispute
Speaker 2: with Supreme Court Chief Justice John Roberts. In an extraordinary statement,
Speaker 2: Roberts said it's not appropriate to call for impeaching federal
Speaker 2: judges over their rulings. That's after President Trump posted on
Speaker 2: truth social that the judge who ruled against him on
Speaker 2: deporting alleged Venezuelan gang members should be impeached. Bloomberg Law
Speaker 2: host John Grosso says Judge James Bohasburg is not the
Speaker 2: only one under this kind of pressure.
Speaker 6: Impeachment has already been filed against one judge who made
Speaker 6: a ruling in the Doge case over the Treasury data, and.
Speaker 1: So with more calls for this, I think he's just.
Speaker 6: Trying to step out there and say this is not
Speaker 6: the way to go, and it's not the way to go.
Speaker 2: As Bloomberg Law host Don Grosso, president Trump is not
Speaker 2: backing down after Robert's state Many Tollfox News. Many people
Speaker 2: have called for Judge of boas Burg to be impeached, and.
Speaker 3: Later today Karen President Trump will meet the chief executives
Speaker 3: of more than a dozen oil companies. Industry leaders say
Speaker 3: they have plenty of reasons to give thanks to the President.
Speaker 3: He's an unabashed champion of US oil and gas production
Speaker 3: and has vowed to unleash the industry's potential. However, the
Speaker 3: President's threatened tariffs are stoking industry concerns about potential economic declines.
Speaker 2: Well Nathan, political turmoil is royaling markets in Turkey, The
Speaker 2: lira and stocks are sinking. In fact, at one point,
Speaker 2: the lera plunged more than ten percent. Investors are dumping
Speaker 2: the nation's assets after the arrest of a key rival
Speaker 2: to President erdiwan Is Denbul's mayor, akram Ima Moglu, has
Speaker 2: been detained a day after Turkish authorities revoked his university
Speaker 2: diploma in a move that could bar him from challenging
Speaker 2: Air Towan in the next presidential election.
Speaker 3: Well, you're in the US Karen futures are moving just
Speaker 3: a bit higher Following another day of losses on Wall Street.
Speaker 3: The S and P five hundred fell one point one
Speaker 3: percent the Nasdaq one hundred slid one point seven percent
Speaker 3: as megacap tech stocks led the market down. Stuart Kaiser,
Speaker 3: head of US equity trading strategy at City, says there
Speaker 3: may be more pain ahead.
Speaker 1: Is there more to come?
Speaker 7: I mean, I think if you're if you believe that
Speaker 7: a lot of this was driven by policy out of
Speaker 7: Washington and the key administrators down there are telling you
Speaker 7: basically to hedge and that there is more to come,
Speaker 7: and that they're willing to tolerate some short term pain
Speaker 7: for these longer term structural reforms, then yeah, it does
Speaker 7: feel like there's potentially more more behind this. It's hard
Speaker 7: to think that the headlines that have driven this are finished.
Speaker 3: City Stuart Kaiser says, options traders are pricing in a
Speaker 3: one point two percent move in the S and P
Speaker 3: five hundred either way following today FED decision and.
Speaker 2: That decision, Nathan, but the backdrop of all of the
Speaker 2: geopolitical concerns comes. At two pm Walls Street time, we
Speaker 2: get a preview with Bloomberg's and Michael McKee.
Speaker 8: Expect an underwhelming FED meeting today. No change in the
Speaker 8: benchmark interest rate, no change in the dot plot, and
Speaker 8: no major change in policymakers economic forecasts. It's tariffs, of course.
Speaker 8: The administration doesn't plan to reveal its import tax program
Speaker 8: until April second. Once it has details, the Fed can
Speaker 8: start modeling impacts on the economy. But with inflation sticky
Speaker 8: and the labor market steady, there's not much officials can
Speaker 8: or should do right now. Michael McKee, Bloomberg Radio.
Speaker 2: All right, Mike, thank you for full FED coverage. Be
Speaker 2: sure to catch Bloomberg surveillance. The Fed decides special It
Speaker 2: starts this afternoon at one thirty pm Wall Street Time
Speaker 2: on Bloomberg Radio, Bloomberg Television, and the Bloomberg podcast page
Speaker 2: on YouTube.
Speaker 1: Thank Careen, we got a policy decision out of Asia.
Speaker 3: Overnight, the Bank of Japan kept its rates steady, signaling
Speaker 3: concern about the impact of trade tension and sun the
Speaker 3: global economy.
Speaker 2: Well Nathan, the company involved in the long running litigation
Speaker 2: over Oxyconton's role in the deadly opioid epidemic, has filed
Speaker 2: a new bankruptcy case and we get the very latest.
Speaker 2: It's Bloomberg's John Tucker, John, good morning, Good.
Speaker 9: Morning, Karen. This is a new bankruptcy plan from the
Speaker 9: already bankrupt Purdue Pharma. It could be a major step
Speaker 9: toward finalizing a seven point four billion dollar opioid settlement.
Speaker 9: It's aimed at, once and for all, settling thousands of
Speaker 9: lawsuits that claim Purdue Pharmer's pain medication caused the widespread
Speaker 9: opioid addiction crisis. It comes after the Supreme Court last
Speaker 9: year next a previous attempt at a settlement that would
Speaker 9: have given Purdue's owners, the wealthy Sackler family, civil immunity.
Speaker 9: Under this plan, a new public benefit company will be
Speaker 9: created after Purdue is dissolved, and the Sackler family will
Speaker 9: no longer have ownership interest. You know, Yorkome, John Tucker,
Speaker 9: Bloomberg Radio.
Speaker 1: All right, John, thank you.
Speaker 3: Finally, two NASA astronauts who been stuck on the International
Speaker 3: Space Station for nine months have returned home.
Speaker 1: And splashdown Crew nine back on Earth. SpaceX.
Speaker 3: Mission control caught the moment, Butch Wilmore and Sunny Williams
Speaker 3: landed off the Florida coast and a dragon capsule and
Speaker 3: remarks heard here on Bloomberg. NASA manager Steve Stitch says
Speaker 3: the return trip could not have gone better.
Speaker 1: The cruise to one great.
Speaker 7: You know, they'll spend a little time on the recovery
Speaker 7: ship getting checked out, making sure that they're healthy and
Speaker 7: ready to go, and then eventually they'll make their way
Speaker 7: back to Houston.
Speaker 3: The splicetown ends a long saga for Wilmore and Williams.
Speaker 3: It began last June when the pair were supposed to
Speaker 3: stay on the ISS about a week. An issue with
Speaker 3: their Boeing vehicle kept them in orbit till last Sunday night.
Speaker 2: It is time now for a look at some of
Speaker 2: the other stories making news in New York and around
Speaker 2: the world, and for that we're joined by Bloomberg's Michael
Speaker 2: Barr Michael good Morning.
Speaker 10: Good Morning care And A federal judge ruled that the
Speaker 10: dismantling of the US Agency for International Development likely violated
Speaker 10: the Constitution in an order that blocked Elon Musk's Department
Speaker 10: of Government Efficiency for making further cuts to the agency.
Speaker 10: The judge ordered the Trump administration to restore email and
Speaker 10: computer access to all employees of USAID, including those who
Speaker 10: were placed on administrative leave. The lawsuits singled out Musk
Speaker 10: as a defendant covered by the preluminary injunction. Unredacted documents
Speaker 10: related to the nineteen sixty three assassination of President John F.
Speaker 10: Kennedy had been released following an order by President Trump
Speaker 10: shortly after he took office. The documents were posted on
Speaker 10: the website of the US National Archives and Records Administration
Speaker 10: last night. University of Virginia Center for Politics Director Larry
Speaker 10: Sabado says it will take a long time to go
Speaker 10: through the new material.
Speaker 3: They're going to be surprises in there, but I just
Speaker 3: don't think there are going to be that many surprises
Speaker 3: about JFK's assassination.
Speaker 10: There are also never before seen memos outlining how the
Speaker 10: CIA tapped phones in the Mexico City embassies visited it
Speaker 10: by Lee Harvey Oswall months before the assassination. Senate Minority
Speaker 10: Leader Chuck Schumer is responding to the criticism from fellow
Speaker 10: Democrats that he cave to Republicans and voted for a
Speaker 10: GOP bill that would keep the government open through the
Speaker 10: end of September. Schumer says if the bill didn't pass,
Speaker 10: a government shutdown would have given President Trump and the
Speaker 10: rest of the executive branch unchecked power to slash even
Speaker 10: more federal jobs and programs. Schumer on ABC's the view,
Speaker 10: if we ended.
Speaker 11: Up a shutdown three weeks from now, people would come
Speaker 11: to me and they'd say, they just cut off my Medicaid,
Speaker 11: they just got rid of my veterans benefits. Stop it,
Speaker 11: And I say we can't we in a shutdown, and
Speaker 11: then they'd say to me, why did you let the
Speaker 11: shutdown happen.
Speaker 10: Senator Schumer also says President Trump's acknowledgment of his vote
Speaker 10: online was trolling. Finally, former Governor Andrew Cuomo raised over
Speaker 10: one point five million dollars from twenty seven hundred donors
Speaker 10: for the New York City mayor's primary race. Polls show
Speaker 10: him leading heading into the June t twenty fourth primary.
Speaker 10: Global News twenty four hours a day and whenever you
Speaker 10: want it with Bloomberg News Now. I'm Michael Barr, and
Speaker 10: this is Bloomberg Karen.
Speaker 2: All right, Michael Barr, thank you time now for the
Speaker 2: Bloombergy Sports update, brought to you by try State Oudie.
Speaker 2: Here's John stash Hour, John, good morning.
Speaker 10: Good morning, Garon.
Speaker 12: Over the next three weeks, there'll be sixty seven and
Speaker 12: CUBAA tournament games.
Speaker 10: The first was in Dayton, Ohio.
Speaker 12: It was Alabama State out of the Swack against Saint
Speaker 12: Francis of Pennsylvania, who won the nec had a sub
Speaker 12: five hundred record. The game not decided until the final second.
Speaker 9: They have to go ninety four feet.
Speaker 3: Simpson will inbound under his own basketball, but Ato.
Speaker 1: Pressures the ball. He throws a baseball right.
Speaker 9: Half past, arking to the bar Free provide exclusion to
Speaker 9: the basket Bucks suber Totos tucking the call.
Speaker 12: O bar Bucks ca Babama State comer on westban one
Speaker 12: march Man. This Bama State wins seventy to sixty eight.
Speaker 12: It's reward a game tomorrow. It's the Attorney's top overall seed Auburn.
Speaker 12: Many criticized the committee for including North Carolina Tarrios looked awfully,
Speaker 12: deserving a ninety five sixty eight rout of San Diego State.
Speaker 12: The White Plains native RJ. Davis scored twenty six. He
Speaker 12: was six for six on three pointers. Tarriols will play
Speaker 12: Ole Miss on Friday. Two more games in Dayton Tonight
Speaker 12: at the Garden Artemi Panarans scored a minute thirteen in
Speaker 12: his thirtieth goal. The Rangers failed to score again, lost
Speaker 12: to Calgary two to one, and when Montreal won, the
Speaker 12: Canadians moved ahead for the last playoff spot in the East.
Speaker 12: Montreal's played two fewer games. Islanders a four to two
Speaker 12: win at Pittsburgh. The Capitols beat Detroit four to one.
Speaker 12: The Celtics gave Jason Tatum and Jalen Brown the night off,
Speaker 12: still beat the Nets one O four ninety six.
Speaker 10: That's Boston's fiftieth.
Speaker 12: When the Warriors gave Steph Curry the night off, they
Speaker 12: still beat Milwaukee one O four ninety three. Since winning
Speaker 12: sixteen in a row, back to back losses for Cleveland
Speaker 12: beaten by the Clippers, the knickser in San Antonio tonight,
Speaker 12: Dodgers and Cubs getting ready to play again at the
Speaker 12: Tokyo Dome. LA won yesterday four to one, holding the
Speaker 12: Cubs to three hits with Garrett Cole out. Max Free
Speaker 12: the new year nikee eighth in Tampa against the Red Sox,
Speaker 12: Free through four to third score is Senians. Brandon Graham,
Speaker 12: retiring after fifteen seasons in Philadelphia, played more games than
Speaker 12: anyone in Eagles history. John Staishaw or Bloomberg Sports Karen
Speaker 12: Nathan Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and.
Speaker 3: Around the world on Bloomberg dot Com and the Bloomberg
Speaker 3: Business app.
Speaker 1: This is Bloomberg Daybreak. Good morning. I'm Nathan Hager.
Speaker 3: President Donald Trump is casting it as a win to
Speaker 3: have held a phone call with Russian President Vladimir Putin.
Speaker 3: He did not get the thirty day ceasefire that he'd
Speaker 3: agreed to with Ukraine, but the President says the concessions
Speaker 3: Putin did make are a good first step.
Speaker 4: You have a lot of guns pointing at each other,
Speaker 4: and the ceasefire without going a little bit further, it
Speaker 4: would have been tough. Russia has the advantage, as you know,
Speaker 4: they have encircled about two five hundred soldiers. They're nicely encircled,
Speaker 4: and that's not good.
Speaker 3: President Trump speaking with Fox News host Laura Ingram last night.
Speaker 3: This morning, we're speaking with raw Lind Mathis and Bloomberg's
Speaker 3: News director for Europe, the Middle East and Africa. Good morning, Roz. So,
Speaker 3: no thirty day ceasefire from President Putin. Where do things
Speaker 3: stand now?
Speaker 13: Well, that's right, So Donald Trump did not get Vladimir
Speaker 13: Putin to commit to a full thirty day seas far.
Speaker 13: What he seems to have agreed to is potentially to
Speaker 13: stop targeting Ukrainian energy infrastructure for thirty days and to
Speaker 13: say that he would agree to that if Ukraine did
Speaker 13: the same. But we don't have a lot of details
Speaker 13: even about that. We know that Russian and US officials
Speaker 13: are due to meet in Saudi Arabia again starting today
Speaker 13: and there'll be more conversations around some of those details,
Speaker 13: but it's a pretty incremental step in the end. I mean,
Speaker 13: obviously Russia has had a lot of success targeting energy
Speaker 13: infrastructure in Ukraine that's been very damaging for Ukraine, especially
Speaker 13: through things like the winter months, but equally it's nowhere
Speaker 13: near the full far that Donald Trump is looking for.
Speaker 13: So it seems to be that Putin gave Trump a
Speaker 13: little bit but didn't give him a lot. And it's
Speaker 13: very clear that Vladimir Putin has a lot of other
Speaker 13: demands in all of this and conditions that he's going
Speaker 13: to what met in terms of agreeing to a full
Speaker 13: cease fire, and perhaps he would only do that if
Speaker 13: he had a meeting with Donald Trump face to face.
Speaker 3: Is there concern among European allies that President Trump could
Speaker 3: give in two more of President Putin's demands.
Speaker 13: Well, something that's been the concern for quite a while,
Speaker 13: and indications from the US in fact that Trump would
Speaker 13: be willing to do that, just the way that he
Speaker 13: talks about territory and he refers to things like assets
Speaker 13: when it comes to Ukraine, including a key nuclear power plan,
Speaker 13: and indicating that he's not averse to listening to Vladimir
Speaker 13: Putin and his demands there, So around territory, around the
Speaker 13: nuclear power plant, perhaps even recognizing Crimea as part of Russia.
Speaker 13: Of course, Vladimir Putin annexed Crimea well before he went
Speaker 13: into the rest of Ukraine. So a lot of concern
Speaker 13: that in order to get a deal, that Donald Trump
Speaker 13: will be willing to listen to some of Vladimir Putin's demands.
Speaker 13: And then how can Europe and Ukraine, most importantly of all,
Speaker 13: get in the conversation on that or is this really
Speaker 13: the US and Russia agreeing to broad parameters and then
Speaker 13: essentially presenting them to Ukraine and to Europe as a
Speaker 13: fate to company. So the question is can they get
Speaker 13: a set at the table. It just doesn't seem that
Speaker 13: Donald Trump is interested in Europe having one.
Speaker 3: So as the negotiations potentially continue between the US, Ukraine
Speaker 3: and Russia, we have new political turmoil in Turkey. What
Speaker 3: is happening there this morning?
Speaker 13: Well, that's right. So there's been a bit of a
Speaker 13: crackdown on the opposition that's been going on for some weeks,
Speaker 13: if not months in Turkey, and it's escalating quickly today though,
Speaker 13: because we see that Turkish authorities have detained President Erduan's
Speaker 13: dominant rival. This is the mayor of Istanbul ekrem Imamolu,
Speaker 13: who's really a very popular politician in Turkey and seen
Speaker 13: as the most likely contender against Duwan in the next election,
Speaker 13: which is due in twenty twenty eight. And so he's
Speaker 13: been detained today. That the pretext for that is obviously
Speaker 13: that he didn't have the qualifications to run for president
Speaker 13: in the next election in twenty twenty eight, that his
Speaker 13: qualifications for a high degree void, and there's also part
Speaker 13: of a broader soup of inappropriate actions inside Turkey, which
Speaker 13: is something that he denies. But this would all rule
Speaker 13: him out from being nominated as the opposition candidate. And
Speaker 13: you can see the impact on the markets in Turkey
Speaker 13: today as a result.
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories
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