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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, we begin with the impending major winter storm that

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Speaker 3: will affect a large part of the country. The East

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Speaker 3: Coast set to be particularly hard hit. Let's get the

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Speaker 3: very latest. Bloomberg Meteorologist Craig Allen is with us. Craig,

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Speaker 3: what's the update.

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Speaker 4: We are definitely going to get our share, Nathan, And

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Speaker 4: the first thing is that a cold weather advisories in effect.

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Speaker 4: You need the cold air that's coming in during the

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Speaker 4: day today. As for the snowfall that's next, we are

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Speaker 4: all under a winter storm watch from Washington on up

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Speaker 4: through Philadelphia to New York City and all the way

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Speaker 4: on up to Boston. What this means is that there's

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Speaker 4: the potential for six inches of snow or more. It

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Speaker 4: will start sometime late Saturday night and continue into Sunday.

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Speaker 4: For Washington. It will probably start around Sunday morning or

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Speaker 4: so around the New York City area and then take

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Speaker 4: until mid afternoon on Sunday to reach on up into Boston.

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Speaker 4: It's going to start hard and fast and stick immediately

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Speaker 4: because of all that cold air, and I suspect we'll

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Speaker 4: all start with a six inch snowfall. There could be

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Speaker 4: a top number of twelve to eighteen inches of snow

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Speaker 4: in any of these areas along the I ninety five corridor,

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Speaker 4: and the only thing that would keep those numbers down

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Speaker 4: is if there's a mix with sleep and freezing rain,

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Speaker 4: a little change over towards the end. I will have

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Speaker 4: more updates on this to follow as we go through

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Speaker 4: the morning. Karen and Nathan's back to you.

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Speaker 3: Well before we let you go, Craig, gotta know when

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Speaker 3: this is expected to end.

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Speaker 4: Oh, you know what, this is a long duration event.

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Speaker 4: So what we get during the day on Sunday, whether

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Speaker 4: it starts in the morning, the afternoon, or later in

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Speaker 4: the afternoon for U into New England, it is not

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Speaker 4: going to completely end until Monday, I would say, somewhere

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Speaker 4: close to lunchtime on Monday. So we're easily going to

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Speaker 4: see about a twenty four hour event of snowfall, possibly

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Speaker 4: as I said, mixing with some sleeve or freezing rain

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Speaker 4: towards the end of it to make it even that

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Speaker 4: much more icy. And then after that the cold stays

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Speaker 4: right through the week. That snow's not going anywhere.

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Speaker 2: All right, Craig Allen, thanks so much, and as you said,

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Speaker 2: we will be checking in with you throughout the morning.

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Speaker 2: The storm is already having an impact on the airlines.

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Speaker 2: They're making contingent plans for an expected weekend a messy

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Speaker 2: travel In Bloomberg's Tom Busby continues our team coverage.

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Speaker 5: US carriers are out with backup plans for passengers ahead

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Speaker 5: of wicked winter weather expected to impact one hundred and

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Speaker 5: twenty five million Americans from today through Monday and disrupt

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Speaker 5: air traffic from coast to coast. Delta offering to rebook

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Speaker 5: flights to and from forty one airports in the South

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Speaker 5: and southwest United waving change fees for flights at sixty

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Speaker 5: one airports. An American will do the same at airports

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Speaker 5: from New Mexico to Virginia. Even low cost carriers like Spirits,

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Speaker 5: SOUTHWAYT and Jet Blue will waive fees for travelers.

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Speaker 6: Tom Buzby, Bloomberg Radio. All right, Tom, thank you. As

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Speaker 6: we continue to track the weather.

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Speaker 3: We want to turn now to President Donald Trump and

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Speaker 3: his foreign policy plans, because we're learning more about his

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Speaker 3: framework for a future deal on Greenland sources tell Bloomberg

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Speaker 3: News at the US wants to rewrite its defense agreement

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Speaker 3: with Denmark to remove any limits on its military presence

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Speaker 3: on the island. The current arrangement was signed to nineteen

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Speaker 3: fifty one, amended in two thousand and four. It currently

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Speaker 3: calls for the US to consult with both Denmark and

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Speaker 3: Greenland before making any significant changes. The President says his

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Speaker 3: goal is permanent, total access to the island.

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Speaker 7: We can do it anything we want. We can do military,

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Speaker 7: we can do anything we want.

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Speaker 6: And it's being negotiated, and let's see what happens.

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Speaker 2: I think it'll be good.

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Speaker 3: The President Trump spoke aboard Air Force one on his

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Speaker 3: way back to Washington from Davos. Danish Prime Minister Meta

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Speaker 3: Frederickson says she's open to expanding the nineteen fifty one treaty.

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Speaker 8: I think everybody in NATO agrees about that, the Arctic states,

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Speaker 8: but also are the member states that we need a

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Speaker 8: permanent presence from NATO in the Arctic region, including around Greenland.

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Speaker 3: But Danish Prime Minister Meta Frederickson says the question of

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Speaker 3: Greenland's sovereignty is a red.

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Speaker 2: Line and now Nathan with President Trump making progress on Greenland.

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Speaker 2: He's openly amusing about sending NATO troops to this southern

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Speaker 2: border with Mexico. He posted the idea on social media,

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Speaker 2: saying maybe the US should invoke Article five, force NATO

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Speaker 2: to come to the US and free up border patrol

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Speaker 2: agents for other tasks. It's unclear whether the post was

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Speaker 2: just a job or laying the groundwork for a serious

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Speaker 2: policy statement. President Trump has long claimed NATO's Article five

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Speaker 2: mutual defense obligation is a one sided deal against the US.

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Speaker 3: Now, ker let's turn the latest on the war in Ukraine.

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Speaker 3: The Kremlin says the territorial issue remains unresolved after Russian

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Speaker 3: President Vladimir Putin held late night talks with US envoys

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Speaker 3: Steve Witkoff and Jared Kushner. This comes after Ukraine's President

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Speaker 3: Vladimir Zelenski used a speech at Davos to criticize Europe

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Speaker 3: for relying too much on American support.

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Speaker 9: Dr France, who should not degrade ourselves to secondary rules.

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Speaker 9: Not when we have a chance to be a great

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Speaker 9: power together. We should not accept that Europe is just

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Speaker 9: a salad of small and middle powers seasoned with enemies

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Speaker 9: of Europe. When united, we are truly invincible.

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Speaker 3: President Zelenski says top Ukrainian officials will attend plan talks

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Speaker 3: today with the US and Russia in the United Arab Emirates.

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Speaker 2: Well, nin President Trump says his new Board of Peace

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Speaker 2: is withdrawing Canada's invitation to join. It comes just days

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Speaker 2: after Prime Minister Mark Kearney usued a withering speech at

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Speaker 2: the World Economic Forum in Davos, warning against coercive tactics

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Speaker 2: by the world's great powers. Karney returned to Canada with

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Speaker 2: a similar message.

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Speaker 10: Now Canada can't solve all the world's problems, but we

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Speaker 10: can show that another way is possible, that the arc

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Speaker 10: of history isn't to be warped towards authoritarianism and exclusion.

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Speaker 10: It can still bend towards progress and justice.

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Speaker 2: And last week Canadian Prime Minister Mark Kearney accepted the

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Speaker 2: offer to be on the new Board of Peace.

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Speaker 3: Well, Markarney's not the only prominent figure. President Trump is

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Speaker 3: apparently at odds with Karen. He is now suing Jamie

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Speaker 3: Diamond and JP Morgan, Chase Bloomberg's John Tucker's in New

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Speaker 3: York with the latest done this John and Nathan.

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Speaker 11: Years have strained between Trump and Jamie Dimond have now

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Speaker 11: culminated in a five billion dollar lawsuit. This was President

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Speaker 11: Trump and Air Force One complaining JP Morgan Chase once

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Speaker 11: de banked is real estate company.

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Speaker 12: All of a.

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Speaker 7: Sudden, I was told no, you can't, you can't do

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Speaker 7: so wrong.

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Speaker 13: So I don't know.

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Speaker 14: I don't know what their excuse would be.

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Speaker 9: Maybe their excuse would be the regulators.

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Speaker 11: It is a real issue. This was Diamond last year

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Speaker 11: responding to a question about debanking.

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Speaker 4: The rules and the requirements are so onerous, and it

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Speaker 4: does course people be debanked, in my opinion, should not

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Speaker 4: be well.

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Speaker 11: Trump and Diamond have traded bars over the years, and

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Speaker 11: the relationship further strained in Dabos when Diamond pushed back

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Speaker 11: against some of Trump's comments. Investors unfazed by the suit,

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Speaker 11: shares closed up half a percent at after the lawsuit

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Speaker 11: was announced. The bank's board announced it paid Diamond forty

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Speaker 11: three million dollars last year. In New Yor income John

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Speaker 11: Tucker Bloomberg.

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Speaker 2: Radio, Right, John, thank you. When we turned to the

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Speaker 2: Nation's capital. Now and former Special Counsel Jack Smith testified

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Speaker 2: before the House Judiciary Committee, his first public testimony about

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Speaker 2: his investigations into President Trump's actions after the twenty twenty election.

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Speaker 2: Bloomberg's Amy Morris reports from Washington.

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Speaker 15: The committee is looking into what it calls politically motivated

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Speaker 15: prosecutions of President Trump, targeting the investigators who scrutinized the president,

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Speaker 15: but Smith insists he acted without regard to politics.

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Speaker 12: President Trump was charged because the evidence established that he

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Speaker 12: willfully broke the law. Rather than accept his defeat in

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Speaker 12: the twenty twenty election, President Trump engaged in a criminal

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Speaker 12: scheme to overturn the results prevent the lawful transfer of power.

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Speaker 15: Smith told the House Judiciary Committee that if the case

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Speaker 15: against Trump went to trial, he had trump allies as

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Speaker 15: witnesses who would testify that they told Trump he lost

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Speaker 15: the twenty twenty election. In Washington, Amy Morris Bloomberg Radio,

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Speaker 15: all right.

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Speaker 6: Amy, thank you. Turning to markets now.

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Speaker 3: After two straight days of gains, stocks are lower as

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Speaker 3: he closed out the holiday shortened trading week. Shares of

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Speaker 3: Intel are lower by more than ten percent. The chip

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Speaker 3: maker gave a lackluster forecast and warned its struggling with

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Speaker 3: manufacturing problems. Intel Ceolip Button told analysts the turnaround is

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Speaker 3: long term.

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Speaker 7: We are on the multi year journey it would take

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Speaker 7: time and resolve on my team and I a committa

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Speaker 7: to rebuilding this iconic American company and increasing the long

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Speaker 7: term value while with shareholders.

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Speaker 3: Intel CEO Lip Bhutan's first quarter projections for revenue and

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Speaker 3: earnings both fell well short of Wall Street estimates.

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Speaker 2: Nathan TikTok and is Chinese parent Bite Down to have

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Speaker 2: used a deal to create a new American entity. It

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Speaker 2: officially avoids the threat of a band in the US

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Speaker 2: that has been in discussion for years. The social video

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Speaker 2: platform company signed agreements with major investors, including Oracles, silver Lake,

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Speaker 2: and MGX to form the joint venture. The new entity

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Speaker 2: will be responsible for moderating content on TikTok and protecting

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Speaker 2: US users data.

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Speaker 3: Sticking with Asia, Karen, as expected, the Bank of Japan

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Speaker 3: has held rate steady. The BOJA issued higher inflation forecasts

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Speaker 3: that leave the scope for a hike to come earlier

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Speaker 3: than expected this summer.

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Speaker 4: Time.

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Speaker 2: Now for a look at some of the other stories

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

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

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Speaker 16: Michael, good morning, Good Morning, Karen, New York City. Along

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Speaker 16: with the rest of the northeast are forecast to get

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Speaker 16: pummeled with more than a foot of snow this weekend.

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Speaker 16: It's a test for new mayor Zoron Mamdani as the

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Speaker 16: massive weather system threatens power, airline delays, and trans system problems.

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Speaker 13: While we cannot control how much snow will actually fall

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Speaker 13: this weekend, we can control how we prepare for and

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Speaker 13: respond to this storm.

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Speaker 16: If the forecast holds, it would be the biggest snow

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Speaker 16: storm to hit Manhattan since twenty twenty one. Minnesota has

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Speaker 16: been the center of immigration raids for weeks, and the

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Speaker 16: latest case has local advocates outraged. Attorneys and school officials

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Speaker 16: say a five year old coming home from preschool was

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Speaker 16: taken by federal agents along with his father. Vice President JD. Van,

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Speaker 16: speaking in Minneapolis, says the agents were protecting the child.

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Speaker 6: What are they supposed to do?

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Speaker 3: Are they supposed to let a five year old child

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Speaker 3: freeze to death? Are they not supposed to arrest an

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Speaker 3: illegal alien in the United States of America.

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Speaker 16: However, multiple people on the scene reportedly offered to take

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Speaker 16: the child in but were refused. Defense attorney Mark Prockatch

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Speaker 16: pushed back on Vance's remarks, accusing the boy's father of

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Speaker 16: being in the US illegally.

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Speaker 13: These are not ill legal aliens. They came properly, they

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Speaker 13: came legally and are pursuing illegal pathways, so that's just

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Speaker 13: not accurate.

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Speaker 16: The child and his father are being held together in

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Speaker 16: a processing center near San Antonio. Luigi Mangioni, accused of

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Speaker 16: gunning down the United Healthcare CEO in New York, is

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Speaker 16: due in federal court today. At issue is whether Mangioni's

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Speaker 16: backpack was searched in an unlawful manner when he was arrested.

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Speaker 16: Global News twenty four hours a day and whenever you

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Speaker 16: wanted with Bloomberg News Now Michael Barr and this is

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Speaker 16: Bloomberg Heart.

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Speaker 17: Thanks Michael.

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Speaker 2: A time now for our Bloomberg Sports updating. For that,

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Speaker 2: we bring in John Stashauer.

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Speaker 14: Thanks Karend coach of the Baltimore Ravens, replacing John Harbaugh.

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Speaker 14: Forty two year old Jesse Mintor, a former Ravens assistant

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Speaker 14: and then he worked for Jim Arbaugh, first at Michigan,

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Speaker 14: the last two years with the LA Chargers. Finalist name

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Speaker 14: for the NFL MVP. Christian McCaffrey, Matthew Stafford, Josh Allen,

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Speaker 14: Drake May and Trevor Lawrence Stafford is the favorite Washington

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Speaker 14: Nationals All Star pitcher Mackenzie Gore to the Texas Rangers

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Speaker 14: for five minor leaguers. That's a Bloomberg Sports update.

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Speaker 17: Stay with us. More from Bloomberg Daybreak coming up 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.

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Speaker 17: This is Bloomberg Daybreak.

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Speaker 6: Good morning on Nathan Hagar.

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Speaker 3: Roughly half the country is getting ready for the kind

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Speaker 3: of winter storm many of us haven't seen in years.

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Speaker 3: Bitter cold and ice to the south, heavy snow for

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Speaker 3: much of the Eastern Seaboard on into the weekend. Bloomberg

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Speaker 3: meteorologist Rob Carolyn is tracking the storm and joins us now,

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Speaker 3: so give us the update.

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Speaker 6: Robert. We starting to see impacts from this storm already,

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Speaker 6: not yet, Nathan.

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Speaker 18: The storm is just now starting to put itself together

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Speaker 18: out over the Four Corners region in Arizona and New Mexico.

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Speaker 18: We're seeing some rain this morning. It's breaking out in

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Speaker 18: West Texas. It'll blossom as the day goes on over

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Speaker 18: Texas and Oklahoma, and that's where we'll start to see

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Speaker 18: problems later today, Dallas up into Oklahoma City with some snow,

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Speaker 18: sleet and freezing rain, and then it spreads quickly off

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Speaker 18: towards the east. We're going to see it moving into

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Speaker 18: the mid Atlantic States by late in the day tomorrow.

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Speaker 18: It's into the New York City area by early Sunday morning,

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Speaker 18: and then into Boston Sunday afternoon. The storm system itself

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Speaker 18: is actually going to move off the North Carolina coast

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Speaker 18: after moving through the south central part of the nation.

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Speaker 18: It'll then pass south of New England during the day

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Speaker 18: on Monday. As you mentioned, north of the track, we're

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Speaker 18: going to be looking at primarily snow and very cold

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Speaker 18: weather along the track, a mixture of snow, sleet and

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Speaker 18: freezing rain. South of the track, it's rain. Those folks

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Speaker 18: not seeing the snow over the upper Midwest, Great Lakes

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Speaker 18: and northern New England will get very cold weather through

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Speaker 18: the weekend. It's going to be a sizeable snowfall. Right now,

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Speaker 18: it looks like the district of Baltimore pick up eight

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Speaker 18: to twelve inches of snow. There will be some sleet

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Speaker 18: and freezing rain that mixes in a Sunday afternoon Sunday

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Speaker 18: evening that may hold the accumulations down there. Also, as

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Speaker 18: we look on up to the New York City area,

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Speaker 18: there may be some mixing, especially south of New York City,

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Speaker 18: but it still looks like an eight to fourteen inch

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Speaker 18: snowfall for the New York area.

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Speaker 6: New England, they could be the Jackpot area right now.

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Speaker 18: It looks like Boston's looking at ten to sixteen inches,

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Speaker 18: and there could be some places outside of Boston that

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Speaker 18: pick up a foot and a half of snow by

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Speaker 18: the time it's winding down Monday evening.

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Speaker 3: Yeah, it sounds like there's something for just about everybody

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Speaker 3: from this storm. With the kind of accumulations we're looking

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Speaker 3: at and the sort of freeze that we're expecting into

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Speaker 3: the rest of the week.

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Speaker 6: When can we start to dig out of this thing?

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Speaker 18: Rob Well, most areas will be able to dig out

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Speaker 18: during Monday, Nathan. It'll be a different story in New England.

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Speaker 18: They'll be digging out Monday night and Tuesday. There is

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Speaker 18: not going to be a lot of melting that takes

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Speaker 18: place next week. The air mess that's moving in behind

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Speaker 18: the storm is frigid. Daytime highs today in the Dakotas

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Speaker 18: and across northern Minnesota are going to be in the

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Speaker 18: teens below zero, and they're going to drop to twenty

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Speaker 18: five and thirty five below tonight, and that air just

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Speaker 18: settles in over the eastern United States. All next week

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Speaker 18: looks cold, and it looks like it stays cold into

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Speaker 18: the beginning of February as well.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

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Speaker 2: making news from Low stre to Washington and beyond.

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Speaker 2: You can also listen live each morning starting at five

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Speaker 2: am Wall Street Time on Bloomberg eleven three to.

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Speaker 17: Zero in New York, Bloomberg.

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Speaker 2: In ninety nine to one in Washington, Bloomberg ninety two

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Speaker 17: I'm Karen Moscow.

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Speaker 6: And I'm Nathan Hager.

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Speaker 3: Join us again tomorrow morning for all the news you

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Speaker 3: need to start your day right here on Bloomberg Day.

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Speaker 4: Ray