Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Amy Morris. Here
Speaker 2: are the stories we're following today.
Speaker 1: We begin in Washington, where another partial government shut down
Speaker 1: deadline is fast approaching. Lawmakers have till midnight Friday to
Speaker 1: reach an agreement on four of their twelve annual funding bills. Today,
Speaker 1: President Biden is meeting with congressional leaders to try to
Speaker 1: break the impass and unlock billions of dollars in farn aid.
Speaker 1: Senate Majority Leader Chuck Schumer says he is hopeful they
Speaker 1: can get to a deal.
Speaker 3: While we've made some good progress and a number of fronts, Unfortunately,
Speaker 3: our House Republican colleagues are still struggling to figure themselves out.
Speaker 3: There's a lot of uncertainty over how the House will
Speaker 3: proceed in the coming days.
Speaker 4: Till then.
Speaker 1: Majority Leader Chuck Schumer's telling senators to keep their schedules flexible.
Speaker 2: Meanwhile, a deal may be getting closer in the Middle East,
Speaker 2: as Bloomberg's head Baxter reports their new hope for a
Speaker 2: ceasefire between Israel and Hamas.
Speaker 5: President Joe Biden says he hopes that cees fire between
Speaker 5: Israel and Hamas can take effect by early next week,
Speaker 5: and that security advisor tells me that we're close.
Speaker 6: We're close and not done yet, and my hope is
Speaker 6: by next Monday we'll have.
Speaker 4: To cease fire.
Speaker 5: And State Department spokes from Matthew Miller says details are
Speaker 5: being worked out for the hostage release.
Speaker 7: It depends on Hamas.
Speaker 8: We believe a deal as possible and we hope AMAS
Speaker 8: will greet you one.
Speaker 5: And they hope to have the final plan by the weekend.
Speaker 5: Ed Baxter, Bloomberg Radio.
Speaker 1: All right, ed, thank you now. President Biden's support for
Speaker 1: Israel is threatening his own political support as he ramps
Speaker 1: up his reelection campaign. Michigan is holding its primary today.
Speaker 1: Much of that state's Arab American population blames Biden for
Speaker 1: failing to stop the war in Gaza. There's a grassroots
Speaker 1: push in Michigan to vote uncommitted instead of for Biden
Speaker 1: today to send him a message about his handling of
Speaker 1: the crisis.
Speaker 2: Meanwhile, the President was in New York City last night
Speaker 2: for campaign events, and he took on the age question
Speaker 2: during an appearance on NBC's Late Night with Seth Myers.
Speaker 6: It's about how old your ideas are look. I mean,
Speaker 6: this is a guy who wants to take us back.
Speaker 6: He wants to take us back on Roe v. Wade,
Speaker 6: he wants to take us back on a whole range
Speaker 6: of issues that were fifty sixty years they've been solid
Speaker 6: American positions.
Speaker 2: The president also referred to an episode where former President
Speaker 2: Trump appeared to call his wife by a different name,
Speaker 2: although he may have been referring to someone else in
Speaker 2: the crowd at that event. An NBC News poll from
Speaker 2: January found three and four voters had concerns about Biden
Speaker 2: age Biden's age, less than half said the same about
Speaker 2: Donald Trump.
Speaker 1: H let's turn back to markets now. Amy, for the
Speaker 1: first time in more than two years, bitcoin is past
Speaker 1: the fifty seven thousand level. Let's get the latest now
Speaker 1: from Bloomberg's John Tucker, John.
Speaker 9: And Nathan introduction of those bitcoin ETFs earlier this year,
Speaker 9: and that's a big part of the reason for this jump.
Speaker 9: Six point one billion dollars says poured into bitcoin to ETFs.
Speaker 9: They began trading of the US on January eleventh. We
Speaker 9: also have this upcoming of reduction in bitcoin, so apply
Speaker 9: growth the having a micro strategy and enterprise software firm
Speaker 9: says it's purchased another three thousand or so tokens this month.
Speaker 9: Bitcoin has outperformed traditional assets like stocks and gold this year.
Speaker 9: Shares of cryptorelated companies also gained in yesterday's trading. Trading
Speaker 9: platform coinbased Global, for instance, increase seventeen percent. Bitcoin has
Speaker 9: paired some of the earlier gains, now just under fifty
Speaker 9: seven thousand dollars per token. I'm John Tucker, Bloomberg Radio.
Speaker 2: All right, thank you, John, and bitcoin not the only
Speaker 2: thing on the rise this morning. Shares of Zoom Video
Speaker 2: are up more than ten percent in early trading. We
Speaker 2: get that story from Bloomberg's Kimberly Adams.
Speaker 10: The video conference provider reported quarterly sales and profit that
Speaker 10: top analyst estimate. Zoom also announced a one point five
Speaker 10: billion share buyback. After hypergrowth during the pandemic, Zoom had
Speaker 10: experienced a dramatic sales slowdown, a mid competition for business customers,
Speaker 10: and the departure of consumers from the video conferencing platform.
Speaker 10: In the hopes of capturing more corporate client, Zoom has
Speaker 10: expanded its product line to include phone systems, call centers,
Speaker 10: and AI assistants. Zoom says contact center licenses have tripled
Speaker 10: over the last year, and about half a million accounts
Speaker 10: enabled Zoom's AI free companion. Kimberly Adams, Bloomberg Radio.
Speaker 1: All right, Kim, thanks, we'll talk about trading places. Bloomberg
Speaker 1: News has learned the fast fashion company Shan is considering
Speaker 1: the possibility of switching its initial public offering to London
Speaker 1: from New York because of hurdles getting it listed in
Speaker 1: the US. We get more from Bloomberg Markets reporter Sam Onstead.
Speaker 11: It would be an enormous IPO. I mean, even at
Speaker 11: the lower end of their valuation, they would be about
Speaker 11: the sixteen seventeenth biggest company in London if they did
Speaker 11: list Their first choice very much New York, as it
Speaker 11: should be the tech driven retailer, so their evaluation will
Speaker 11: be a lot higher, their liquidity pools a lot higher.
Speaker 11: But they think there's going to be issues in getting
Speaker 11: past the SEC. So it may well be that what
Speaker 11: you see here if they do indeed choose London instead
Speaker 11: of say, Hong Kong or Singapore, is they get the
Speaker 11: listing done but don't necessarily particularly love being here, may
Speaker 11: well eventually kind of shift themselves over to EY the
Speaker 11: new York, Hong Kong, Singapore Lodge of Markets with molliquincy.
Speaker 1: Bloomberg Markets reporter Samunce said they're in London. He notes
Speaker 1: shay And was founded in China but is now headquartered
Speaker 1: in Singapore.
Speaker 2: Turning to the economy, another FED official urging caution when
Speaker 2: it comes to cutting interest rates, Kansas City FED President
Speaker 2: Jeffrey Schmid says the central bank should be patient with
Speaker 2: inflation above the FEDS two percent target and the job
Speaker 2: market still strong. In his first major speech since taking
Speaker 2: the job six months ago, Schmid also said he is
Speaker 2: in no hurry to stop the ongoing reduction of the
Speaker 2: fed's balance sheet.
Speaker 1: In Asia, Japan's two year bond yield climbed to its
Speaker 1: highest level in more than a decade. Stronger than expected
Speaker 1: inflation data are boosting bets that the Bank of Japan
Speaker 1: will end its negative interest rate policy in coming months.
Speaker 2: And in China, state back buns have poured more than
Speaker 2: fifty seven billion dollars into onshore shares this year in
Speaker 2: a bid to prop up the market. That's according to
Speaker 2: estimates by UBS, which expects further purchases. The Swiss Bank
Speaker 2: says more than seventy five percent of the inflows when
Speaker 2: into products tracking the benchmark CSI three hundred.
Speaker 1: Index, and Ali Baba has led the largest single financing
Speaker 1: round for a Chinese artificial intelligence startup. It's the latest
Speaker 1: in a string of sizable investments that suggests the e
Speaker 1: commerce firm is again deploying capital in the hunt for growth.
Speaker 1: Ali Baba led a billion dollar funding round in Moonshot,
Speaker 1: Ai that is one of the better known startups developing
Speaker 1: generative artificial intelligence in China.
Speaker 2: And in Europe. Bloomberg News has learned the UK's Chancellor
Speaker 2: of the Exchequer, Jeremy Haunt mayan alsa new tax on
Speaker 2: vapes in his budget next week. The levy would apply
Speaker 2: to both manufacturers and importers. It's being considered part of
Speaker 2: Prime Minister Regis Suneck's efforts to crack down on vaping
Speaker 2: and smoking to protect children's health.
Speaker 1: Time now to take a look at some of the
Speaker 1: other stories making news in New York and around the world,
Speaker 1: and for that we're joined by Bloomberg's Michael Bark.
Speaker 4: Good Morning, Michael, Good Morning. Nathan. Reaction comes in as
Speaker 4: Sweden is now set to follow Finland's footsteps and join NATO.
Speaker 4: Approval from Hungary's parliament mark the thirty first and final
Speaker 4: member to admit Sweden. It strengthens the alliance in the
Speaker 4: face of Russia's war with Ukraine. Former US Ambassador to
Speaker 4: NATO Ivo Dalder.
Speaker 8: It now brings NATO closer to Russia's border. Remember the
Speaker 8: war when the Ukraine was ostensibly started to prevent NATO
Speaker 8: from coming closer to Russia's border. Well, one way in
Speaker 8: which you bring NATO closer is when you start attacking
Speaker 8: other countries and invading them.
Speaker 4: Sweden decided to leave behind two hundred years of neutrality
Speaker 4: after Russia invaded Ukraine. Donald Trump's lawyers have filed a
Speaker 4: notice of appeal and his four hundred and fifty four
Speaker 4: million dollar New York civil fraud judgment challenging a judge
Speaker 4: is finding that he lied about his wealth as he
Speaker 4: grew his real estate empire. Meanwhile, ahead of Trump's first
Speaker 4: criminal trial, Manhattan District Attorney Alvin Bragg is asking a
Speaker 4: judge to impose a partial gag order on the former president.
Speaker 4: Questions over immigration continue in the case of a nursing
Speaker 4: student murdered on the University of Georgia campus last week.
Speaker 4: The older brother of the man charged allegedly showed a
Speaker 4: fake green card to police as they investigated the woman's death.
Speaker 4: Both men are from Venezuela. Governor Brian Kemp is demanding
Speaker 4: answers from President Biden and immigration authorities.
Speaker 1: She deserves justice, her family deserves justice, and we need
Speaker 1: justice on a national level to prevent this type of
Speaker 1: thing from happening again.
Speaker 4: The older brother has been arrested by Georgia authorities and
Speaker 4: the younger brother accused of murder has been under arrest
Speaker 4: in New York City and at the border, but they
Speaker 4: were parolled or released before customs enforcement agents could step in.
Speaker 4: The DEA is cracking down on the use of pill
Speaker 4: presses in its efforts to fight the fentanyl crisis. It
Speaker 4: warns e commerce sites to regulate purchases of the presses
Speaker 4: under current law. In a duplex turned drug lab in
Speaker 4: New York City, DEA administrator and Milgrim says agents sees
Speaker 4: presses along with two hundred thousand suspected fentanyl pills.
Speaker 10: In the last six months, We've seized pill presses in
Speaker 10: New York, in Massachusetts, in Mississippi, in Kentucky.
Speaker 2: It's an industrial machine.
Speaker 4: The DEA's Dan Milgrim says many of the machines arepurchased
Speaker 4: online for as little as forty bucks. Students at New
Speaker 4: York City is Albert Einstein School of Medicine got to
Speaker 4: welcome surprise. Longtime Board of Trustees chairwoman doctor Ruth Goutnisman
Speaker 4: is gifting the school one billion dollars to make tuition
Speaker 4: free for current four year students and every student enrolling
Speaker 4: in the future. Doctor Goutnisman made the huge donation in
Speaker 4: the name of her late husband, David Sandy Gottisman, who
Speaker 4: was an early investor in Berkshire Hathaway Global. Eing was
Speaker 4: twenty four hours a day and whenever you want it
Speaker 4: with Bloomberg News Now, I'm Michael Barr. This is Bloomberg Navan.
Speaker 1: All right, Michael, thanks time now for the Bloomberg Sports update,
Speaker 1: brought to you by Tri State OWD. He here's John
Speaker 1: stash Ower.
Speaker 12: Actually, the troit since came into the garden an NBA
Speaker 12: worst eight and forty eight. This figured to be an
Speaker 12: easy win for the next It was not. In fact,
Speaker 12: they trailed on the waning seconds when there was a
Speaker 12: wild sequence that included what the officials later admitted was
Speaker 12: a missed call. Dante Devincenzo should have been whistled for
Speaker 12: a loose ball foul. Detroit should have been at the
Speaker 12: line up by one. Instead, it was a turnover that
Speaker 12: led to Josh Hart's game winning layup with two seconds
Speaker 12: left the Knicks one one thirteen to one eleven. Here
Speaker 12: was Pistons coach Monty Williams after the.
Speaker 13: Game, we had a chance to win the game and
Speaker 13: the guy dove into a sar's legs and there was
Speaker 13: a no call. That that's an abomination. You cannot miss
Speaker 13: that in an NBA game, And I'm tired of talking
Speaker 13: about it. I'm tired of our guys asking me what
Speaker 13: more can we do?
Speaker 4: Coach.
Speaker 13: That situation is exhibit A to what we've been dealing
Speaker 13: with all season.
Speaker 4: Loss.
Speaker 12: Jalen Brunson led the next thirty five points, Cade Cunningham
Speaker 12: thirty two for Detroit and Memphis seven nets and double figures.
Speaker 12: They won easily, won eleven to eighty six seventh wins
Speaker 12: in late December, the first the new coach Kevin Ollie
Speaker 12: in Dallas, Poe horvat Sjordan overtime, Islanders won three to
Speaker 12: two in Seattle. The Bruins got a hat trick from
Speaker 12: David Posternach but lost in a shootout. Colleges North Carolina
Speaker 12: top Miami. And for the Tarios, R J. Davis forty
Speaker 12: two points, the most ever scored at the Heels home arena,
Speaker 12: and Tampa Nester Cortez, injured much the last season, took
Speaker 12: them out, gave up seven hits in less than three innings.
Speaker 12: The Yanks did beat the Twins. The Mets beat the
Speaker 12: Nationals Grand Slam for Trace Thompson. That's Clay's younger brother.
Speaker 12: First NFL team to give a player the franchise tag
Speaker 12: Cincinnati and whiteout t Higgins. The Giants, who franchised Saquon
Speaker 12: Barkley last year, could do it again, but are not
Speaker 12: expected to, which would make him a free agent. The
Speaker 12: NFL says it will not change the rule that when
Speaker 12: a player fumbles into the end zone, the team loses possession.
Speaker 12: It's only happened eight times in the last six years.
Speaker 12: It did happen in a recent playoff game. John Stashiawer
Speaker 12: Bloomberg Sports Nathan Okay, John, thank you. Let's get right
Speaker 12: back down to the risk coming out of Washington.
Speaker 13: D C.
Speaker 1: We are just about three days away from the next
Speaker 1: Martiall government shut down deadline, and today President Biden is
Speaker 1: calling Congressional leaders to the White House to try to
Speaker 1: get through the impass. But he's also got his own
Speaker 1: re election in mind, the trips of the Southern border
Speaker 1: later this week and stop at late night comedy last night.
Speaker 1: So let's get into it all now. We're joined by
Speaker 1: Terry Haynes, the founder of Pangea Policy. Terry, as we
Speaker 1: await this White House meeting, where would you put the
Speaker 1: risk of partial government shut down this morning?
Speaker 7: Oh? I think it's not likely to happen just yet, Nathan.
Speaker 7: You know, the one of the dynamics always is that,
Speaker 7: you know, they the self created crises, is that they
Speaker 7: go away, they come, they go away on a recess,
Speaker 7: they come back. It takes them a little while to
Speaker 7: figure out how to shuffle the cards and uh and
Speaker 7: start playing the game again. And short term funding extensions
Speaker 7: have already been bandied around in the House. You know,
Speaker 7: the situation is very volatile, but I would expect there
Speaker 7: to be a little bit of a little bit of
Speaker 7: an extension before they get to it. I would never
Speaker 7: underestimate the minority of House Republicans that I always call
Speaker 7: the purists, wanting to have a government shut down while
Speaker 7: the president's delivering a State of the Union address. But
Speaker 7: I think that's probably less likely right now, So I
Speaker 7: think we'll get a little bit of kicking a can
Speaker 7: before they get down to brass tacks.
Speaker 1: So is the bigger deadline than this April thirtieth deadline
Speaker 1: when we get across the board spending cuts, doesn't that
Speaker 1: become more likely a scenario that we just get to
Speaker 1: that point.
Speaker 7: Absolutely what the purists who paradoxically are doing more a
Speaker 7: little bit more of what markets might want than anybody else,
Speaker 7: because they're actually interested in cutting spending and at least
Speaker 7: looking like they're trying to get a fiscal handle on things.
Speaker 7: Not much of one, but a little bit is better
Speaker 7: than a little bit is distinguished from nothing. They have
Speaker 7: to basically have to do nothing, and they run up
Speaker 7: against this April thirtieth one percent cut across the board deadline,
Speaker 7: as you suggest, so it becomes they think their leverage
Speaker 7: grows the longer this goes on. And that's another reason
Speaker 7: why I think they probably kicked the can a little
Speaker 7: bit more.
Speaker 1: We heard from the President yesterday that he's hopeful that
Speaker 1: a ceasefire could be coming in Gaza by Monday. We've
Speaker 1: talked before about the difficulties that the President faces with
Speaker 1: his own base when it comes to his support for Israel.
Speaker 1: How could that play into what we see in the
Speaker 1: Michigan primary later today, with a state that has a
Speaker 1: pretty sizable Arab American population.
Speaker 7: Well, you've you've hit exactly on what the why the
Speaker 7: President all of a sudden is interested in providing Gaza
Speaker 7: ceasefire updates. You know, my view of this is pretty simple.
Speaker 7: You know, the President faces today in Michigan the possibility
Speaker 7: of having people vote uncommitted, meaning they're not going to
Speaker 7: vote for him or for anybody else, They're going to
Speaker 7: vote uncommitted. If that uncommitted reaches say, ten percent of
Speaker 7: the Michigan electorate, and that's certainly possible. You know, not
Speaker 7: even the governor of the state is saying, who's a Democrat,
Speaker 7: is saying that, you know, she thinks it's likely to
Speaker 7: be a tiny protest vote or anything like that. If
Speaker 7: it reaches double digits, that's going to shake the White
Speaker 7: House a little bit. I think the President would be
Speaker 7: very well served both this week and next week in
Speaker 7: the State of the Union, by you know, laying out
Speaker 7: exactly who were for, what we're for, and why we're for,
Speaker 7: both on Israel and Ukraine and Taiwan. This White House
Speaker 7: doesn't do that very much, but that time is nigh
Speaker 7: for him, both as a president and as a candidate.
Speaker 1: Just got thirty seconds left, Terry. But we heard the
Speaker 1: President take on the age question on late night TV
Speaker 1: last night. What did you make of a framing that
Speaker 1: it's not about how old you are, but about how
Speaker 1: old your ideas are.
Speaker 7: Well, you know, you got to You got to with
Speaker 7: what you got, and that's what he's got. So that's
Speaker 7: what he's leading with. But I'd urge the White House
Speaker 7: to work on the message a little bit because his
Speaker 7: next comment is, of course, the idea is the ideas
Speaker 7: are that he's defending our old two they've been around
Speaker 7: fifty sixty years. I think was the clip you guys
Speaker 7: just ran, so the and I'm not criticizing his defense
Speaker 7: of them. I'm just saying, you know, it's nice to
Speaker 7: be on television, but you got to do a little
Speaker 7: bit more than that.
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