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Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, the longest government shutdown in US history could end

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Speaker 3: as soon as tomorrow. The Senate has passed a temporary

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Speaker 3: funding measure that would reopen most of the government through

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Speaker 3: January thirtieth and the rest through the end of September.

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Speaker 3: It's a sigh of relief for Senate Majority Leader John Thune.

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Speaker 4: This has been a very long road, quite literally the

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Speaker 4: longest shutdown in history. I am very very happy to

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Speaker 4: be able to say that we are coming to the end.

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Speaker 3: Majority Leader John Thune spoke on the Senate floor after

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Speaker 3: the bill passed sixty to forty. Now it heads to

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Speaker 3: the House, where lawmakers are expected to take it up tomorrow.

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Speaker 3: The measure does not include the health insurance subsidy extension

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Speaker 3: that Democrats had demanded for more than a month. Bloomberg's

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Speaker 3: John Hirskovitz reports that it's led to a split within the.

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Speaker 5: The concession that Republicans gave was allowing a vote on

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Speaker 5: the extension of these subsidies in December. Whether the subsidies

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Speaker 5: pass or not is another matter. For a lot of

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Speaker 5: the members of the Democratic Party, especially on the progressive wing,

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Speaker 5: they see this as a betrayal. This was the root

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Speaker 5: cause of their confrontation with the Republicans, and they just

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Speaker 5: don't like the way that it has been settled.

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Speaker 3: Bloomberg's John hirsk It says Republicans are floating alternate plans

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Speaker 3: for the expiring subsidies. President Trump has proposed sending direct

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Speaker 3: payments to affordable character recipients. Other Republicans are suggesting an

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Speaker 3: income cap for the subsidies.

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Speaker 2: Well, Nathan, the shutdown is certainly leaving a mark on

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Speaker 2: the airline industry. A fourth day of flight restrictions saw

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Speaker 2: airlines scrap more than twenty three hundred flights yesterday, and

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Speaker 2: after going unpaid for more than a month, some air

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Speaker 2: traffic controllers have been calling out of work in opposed

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Speaker 2: on truth social President Trump's threatened to withhold pay for

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Speaker 2: those who do not show up. The President promised it

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Speaker 2: ten one thousand dollars bonus for workers who did not

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Speaker 2: take time off. Nick Daniels is president of the Air

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Speaker 2: Traffic Controllers Union.

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Speaker 6: So I'll take anything that recognizes these hard working men

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Speaker 6: and women, but will work with the administration on any

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Speaker 6: issues that are out there. Air traffic controllers have continued

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Speaker 6: to show up during this shutdown. They've endured the longest

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Speaker 6: shutdown in American history, and every single day they absolutely

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Speaker 6: not only deserve their pay, they deserve to be recognized.

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Speaker 2: Nick Daniels with the National Association of Air Traffic Controllers

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Speaker 2: says his members have worked without pay since the shutdown

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Speaker 2: began on October first.

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Speaker 3: And Karen the freezing weather across the country is adding

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Speaker 3: to the flight disruptions. Bloomberg meteorologist Craig Gallen is tracking

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Speaker 3: a storm that's affecting now the majority of the country.

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Speaker 7: It's the coldest air of the season so far, and

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Speaker 7: it has dipped down from border to border across the

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Speaker 7: eastern half of the United States. And as we've been

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Speaker 7: mentioning the core of this unseasonably cold out break, it

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Speaker 7: took a nose dive south first, and now it has

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Speaker 7: invaded the east.

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Speaker 8: This morning.

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Speaker 7: Sub freezing peratures are covering about three dozen states, Numerous

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Speaker 7: record lows being set all the way down through Texas

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Speaker 7: over to Louisiana, Mississippi, Alabama, even south of Orlando in

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Speaker 7: Florida and Lake of Hexno has been a big problem.

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Speaker 7: Treacherous traveled downwind of all the Great Lakes. It has

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Speaker 7: shifted more to the east, so the heaviest accumulations now

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Speaker 7: are occurring from Erie to Buffalo to Syracuse, and that

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Speaker 7: includes Interstates eighty, ninety, seventy nine, and eighty six.

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Speaker 3: Bloomberg Meteorologist Craig Gallon says this taste of winter will

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Speaker 3: be short lived. Temperatures are expected to begin to return

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Speaker 3: to average by midweek.

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Speaker 2: Well Nathan. President Trump is hinting at a thaw in

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Speaker 2: trade relations with India. The President says, the US is

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Speaker 2: pretty close to a deal with India and at some

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Speaker 2: point tariff rates will go down.

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Speaker 9: Well, right now, the tariffs are very high on India

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Speaker 9: because of the Russian oil, and they've stopped doing the

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Speaker 9: Russian oil. It's been reduced for substantially. Yeah, we're going

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Speaker 9: to be bringing the tariffs down.

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Speaker 2: President Trump spoke at the Oval Office swearing in a

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Speaker 2: new ambassador to India, Sergio Gore. The US raised tariffs

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Speaker 2: on many Indian goods to fifty percent earlier this year,

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Speaker 2: in part to pressure new Daily to stop buying Russian oil.

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Speaker 2: Indian refiners have a gun scaling back purchases from Moscow

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Speaker 2: after President Trump's sanctioned rushes to largest producers last month.

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Speaker 3: I Meanwhile, Karin, the President is downplaying criticism of the

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Speaker 3: potential creation of a fifty year mortgage product. He tells

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Speaker 3: Fox News it would help more Americans of ford monthly

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Speaker 3: payments on homes.

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Speaker 9: It's not even a big deal. I mean, you know,

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Speaker 9: you go from forty to fifty years, and what everages

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Speaker 9: you pay, you pay something less from thirty. That some

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Speaker 9: people had a forty and then now they have a fifty.

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Speaker 9: All it means is you pay less for monty paid

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Speaker 9: over a longer period of time.

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Speaker 3: President Trump spoke with Fox News as Laura Ingram now.

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Speaker 3: Critics say extending the length of a mortgage to fifty

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Speaker 3: years from the standard thirty would mean buyer's build equity

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Speaker 3: much more slowly and pay far more interest over the

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Speaker 3: lifetime of a loan.

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Speaker 2: And staying with the markets, Nathan futures are lower after

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Speaker 2: yesterday's rally on Wall Street, and shares of Nvidia are

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Speaker 2: down more than one percent. Japan SoftBank said it has

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Speaker 2: sold its entire stake in the ship maker It's pocketing

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Speaker 2: five point eight billion dollars ahead of a rash of

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Speaker 2: planned investments by founder Masayoshi's son to build his own

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Speaker 2: sphere of influence supporting artificial intelligence. SoftBank also announced a

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Speaker 2: four for one stock split.

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Speaker 3: Paramount sky Dance reported financial results for the first time

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Speaker 3: care and since a new investor group took over the

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Speaker 3: media company in August. It reported revenue below analyst forecast.

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Speaker 3: Paramount says it plans an additional sixteen hundred person workforce

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Speaker 3: reduction and a goal to achieve at least three billion

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Speaker 3: dollars in cost savings. Chris Paul Mary covers Paramount Skydance

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Speaker 3: for Bloomberg.

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Speaker 10: Clearly they're uppering their cost cutting. Is an interesting time because,

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Speaker 10: as everyone has reported, they're interested in buying Warner Brothers.

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Speaker 10: And one of the concerns is, you know how many

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Speaker 10: more jobs the industry would lose if they bought it.

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Speaker 3: Bloomberg's Chris Palm Mary says, the parent of CBS and

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Speaker 3: the Paramount Film and TV Studios forecast thirty bills million

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Speaker 3: dollars in revenue next year. That's slightly more than analyst estaments,

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Speaker 3: and the shares are at more than four percent This morning.

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Speaker 2: On the flip side, Nathan Shares of core Weaver down

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Speaker 2: eight and a half percent. The data center operator lowering

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Speaker 2: his annual revenue forecast due to a delay fulfilling a

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Speaker 2: customer contract. Core Weave shares it more than doubled this year.

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Speaker 3: Karen, it is the end of an era for one

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Speaker 3: of the business's most watched icons. Ninety five year old

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Speaker 3: Warren Buffett says he intends to step up the pace

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Speaker 3: of his donations while he's still alive and will be

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Speaker 3: going quiet. That means he will no longer write Berkshire

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Speaker 3: Hathaway's annual report or speak at its annual shareholder meeting.

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Speaker 3: Here's Bloomberg News senior editor Eric Weiner.

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Speaker 11: He also was sort of a voice of reason on

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Speaker 11: Wall Street. He would be one who would point out

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Speaker 11: that things had gotten a little bit far out over

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Speaker 11: their skis. He would be the one to say that

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Speaker 11: it was time to step back in. They called him

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Speaker 11: the oracle, and there was a good reason for that.

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Speaker 11: We're not going to see something like that again for

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Speaker 11: a very long time, if ever.

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Speaker 3: Bloomberg's ericer says, Warren Buffett is donating more than one

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Speaker 3: point three billion dollars to four family foundations. He plans

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Speaker 3: to step down as CEO of Berkshire Hathaway at the

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Speaker 3: end of this year.

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Speaker 2: Time now for a look at some of the o

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Speaker 2: their stories making news in New York and around the world,

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Speaker 2: and for that we're joined by Bloomberg's Michael Barr. Michael Barr,

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Speaker 2: welcome back, Thank you.

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Speaker 8: Very much, Karen. The Supreme Court has rejected a call

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Speaker 8: to overturn its landmark decision that legalized same sex marriage nationwide.

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Speaker 8: The Justices turned away an appeal from former Kentucky Court

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Speaker 8: clerk Kim Davis, who refused to issue marriage licenses the

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Speaker 8: same sex couples after the Supreme Court's twenty fifteen ruling.

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Speaker 8: The decision brought a sense of relief to many same

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Speaker 8: sex couples and LGBTQ advocates. Chris Hartman is with the

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Speaker 8: Kentucky Fairness Campaign.

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Speaker 7: It's over.

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Speaker 12: Kim Davis's case was not going to be the one

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Speaker 12: that challenged marriage equality.

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Speaker 13: The Supreme Court degrees.

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Speaker 7: Can we all agree to never talk talk about Kim

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Speaker 7: Davis again.

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Speaker 8: Davis had been trying to get the justices to overturn

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Speaker 8: a lower court order that she paid three hundred and

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Speaker 8: sixty thousand dollars in damages and attorneys fees. The Food

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Speaker 8: and Drug Administration says it will remove a long standing

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Speaker 8: warning from hormone based drugs used to treat menopause symptoms

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Speaker 8: in women. The change is a break from FDA policy

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Speaker 8: in which the drugs carried the agency's most severe warning

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Speaker 8: label after two studies in the early two thousands claim

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Speaker 8: that there were major risks associated with HRT, including breast cancer.

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Speaker 8: Gecologist doctor Jessica Sheppard, chief medical officer of the Telehealth

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Speaker 8: Company HERS, says, according to federal officials, almost a third

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Speaker 8: of women did not use HRT due to the warning.

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Speaker 12: This moment has been coming for decades, and when we

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Speaker 12: think of how women have been suffering four years since

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Speaker 12: that WHI study, we really have reached a pinnacle of

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Speaker 12: allowing women's health to pervade it.

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Speaker 8: Doctor Shepherd says women should talk to their provider about

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Speaker 8: hormone therapy. Today, the US owners hit service members on

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Speaker 8: this Veteran's Day. Greg Dartin is a Wisconsin veteran.

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Speaker 13: I'm seventy one.

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Speaker 4: The WW two vets are dying every day. Korea is

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Speaker 4: the next Center's just sir, Vietnam vets, and we're disappearing.

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Speaker 9: We're disappearing very quickly.

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Speaker 8: This morning, President Trump is scheduled to lay a wreath

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Speaker 8: at the tomb of the Unknown Soldier at Arlington National Cemetery.

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Speaker 8: Global News twenty four hours a day and whenever you

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Speaker 8: want it with the Bloomberg News. Now, I'm Michael Barr,

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Speaker 8: and this is Bloomberg Herren.

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Speaker 2: Well, thanks Michael. A time now for our Bloomberg Sports update,

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Speaker 2: and for that we bring in John stash Hour.

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Speaker 14: Thanks Garren brother By football in Green Bay, Packers and

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Speaker 14: Eagles scoreless for thirty six minutes. Philadelphia kicked the field goal,

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Speaker 14: got a jail and heard touchdown pass to Devontae Smith

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Speaker 14: in the fourth quarter and beat Green Bay ten to seven.

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Speaker 14: The Eagles were seven to two. The Giants are two

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Speaker 14: and eighth. They fired coach Brian Dayball. He was in

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Speaker 14: his fourth season overall record of twenty wins and forty losses.

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Speaker 14: Mike Kafka, the assistant, takes over as the interim head coach.

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Speaker 14: Rookies of the Year A's first baseman Nick Kurtz, won

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Speaker 14: unanimously in the American League. Braves catcher Drake Baldwin in

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Speaker 14: the NL that's to Bloomberg Sports fifty.

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Speaker 2: Stay with us more from Bloomberg day Break coming up

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Speaker 2: after this.

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

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

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

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Speaker 8: Good morning.

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Speaker 3: I'm Nathan Hager, and it is now six full weeks

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Speaker 3: into the federal government shut down. Now it may be

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Speaker 3: just one day away from coming to an end.

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Speaker 15: We are going to reopen government. We're going to ensure

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Speaker 15: that federal employees, whether they were furloughed or laid off

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Speaker 15: or purses to work without pay, will now receive compensation.

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Speaker 3: That was Republican Senator Susan Collins after the Senate voted

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Speaker 3: sixty forty on a bill to reopen most of the

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Speaker 3: government for another two and a half months. The House

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Speaker 3: is expected to vote on it tomorrow and for more.

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Speaker 3: We are joined by Bloomberg Breaking News Editor Alexander Pearson.

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Speaker 3: Alex it's great to speak with you this morning. I

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Speaker 3: think it's worth talking about what got us to this

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Speaker 3: point and what should we expect now that this new

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Speaker 3: stop gap is headed to the House. Good morning, and.

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Speaker 13: Thank you for having me. That's right. So yesterday the Senate

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Speaker 13: passed a stopgap bill that will, as you say, fund

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Speaker 13: most of the government until January thirtieth, and then also

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Speaker 13: includes three full budget bills that will fund the rest

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Speaker 13: of the government actually for the next year. So it's

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Speaker 13: a lot of progress considering where how long it took

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Speaker 13: to get here. The House today is expected to vote

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Speaker 13: on the measure and it will have to pass that

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Speaker 13: bill for it to eventually land on President Trump's desk

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Speaker 13: to be signed into law so that the government can reopen.

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Speaker 3: But the bill does not include what the Democrats had

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Speaker 3: been holding out for for more than a month, this

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Speaker 3: solution to expiring health insurance subsidies. Where is that issue

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Speaker 3: left now?

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Speaker 13: Yeah, that's right. So the Democrats initially were reticent to

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Speaker 13: pass any kind of stopgap measure without extending these healthcare subsidies,

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Speaker 13: and a group of centrist moderate Democrats yesterday they broke

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Speaker 13: with most of the party to actually pass this bill

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Speaker 13: in the Senate. That caused a lot of consternation with

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Speaker 13: progressive Democrats, including the leadership. And so now what happens

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Speaker 13: with that is that they got an extent essentially an

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Speaker 13: exchange for voting for this bill. The Republicans in the

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Speaker 13: Senate agreed to hold a vote on extending those subsidies

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Speaker 13: in mid December. But the thing is is that it's

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Speaker 13: not assured if that will actually pass, which is exactly what,

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Speaker 13: of course, the most Democrats wanted to ensure by including

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Speaker 13: it in any kind of stopgap measure, and.

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Speaker 3: We've heard from House Speaker Mike Johnson that he wouldn't

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Speaker 3: even promise of vote on the subsidy issue. Could this

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Speaker 3: potentially tee up a campaign issue for Democrats setting into

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Speaker 3: next year's midterms.

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Speaker 13: Absolutely, if there's no extension, then a lot of millions

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Speaker 13: of Americans actually who get the healthcare through the Affordable

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Speaker 13: Care Act could see the premium skyrocket. And so the

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Speaker 13: Democrats definitely will make this into an electoral issue going

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Speaker 13: into the midterms next year if there is no deal

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Speaker 13: that they see as sufficient as at the end of

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Speaker 13: this year, so these are subject is actually supposed to

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Speaker 13: expire by the end of the year. So if there's

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Speaker 13: no agreement, then this could really become a hot potato

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Speaker 13: issue in the elections next year.

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Speaker 3: And in the meantime, Alex of course, we've seen thousands

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Speaker 3: of flight cancelations, uncertainty around federal food aid as well.

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Speaker 3: In our last minute, where does this leave things politically

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Speaker 3: for Republicans and Democrats.

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Speaker 13: Yeah, I mean, in terms of the polling, it's shown

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Speaker 13: that actually the Republicans have been blamed a little bit

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Speaker 13: more by you know, the average vota for the shutdown

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Speaker 13: then Democrats. That said, you know, the Democrats now are

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Speaker 13: a little bit lost because they didn't get essentially what

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Speaker 13: they wanted from the shutdown fight, even though they scored

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Speaker 13: some pretty good electronal wins last week in New York,

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Speaker 13: New Jersey and Virginia. And so for them, you know,

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Speaker 13: they're going to be looking at this as maybe a

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Speaker 13: lost opportunity and we'll try to make an electoral issue

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Speaker 13: next year if they can't get the subsidies extended. For

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Speaker 13: the Republicans, they now have to decide what they want

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Speaker 13: to do in terms of these subsidies and how they

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Speaker 13: want to manage that issue to ensure that it doesn't

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Speaker 13: become a liability going into the midterms next year.

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