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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 John Tucker. Here

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

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Speaker 3: We begin with politics. A verdict is expected today in

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Speaker 3: Donald Trump's New York civil fraud trial. We get the

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Speaker 3: latest from Bloomberg's Michael Barr in New York City.

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Speaker 4: The former president could have to pay hundreds of millions

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Speaker 4: of dollars in penalties and other sanctions after prosecutors say

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Speaker 4: he inflated his wealth on financial statements that were given

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Speaker 4: to banks, insurers, and others to make deals and secure loans.

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Speaker 4: Trump has denied any wrongdoing. His attorneys say they will

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Speaker 4: appeal if Judge Arthur and Gorin rules against Trump. Yesterday,

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Speaker 4: a New York judge ruled Trump's criminal trial will begin

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Speaker 4: next month in the case of an alleged hush money

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Speaker 4: payment to porn star Stormy Daniels ahead of the twenty

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Speaker 4: sixteen election in New York. Michael Barr, Bloomberg Radio, Thank you.

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Speaker 4: Another case involving the former president is in the spotlight.

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Speaker 4: Fulton County District Attorney Fannie Willis has been on the

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Speaker 4: stand and the hearing to determine whether she should be

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Speaker 4: removed from the Trump election interference trial in Georgia. Bloomberg's end,

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Speaker 4: Baxter has that story.

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Speaker 5: The argument center around when her personal relationship with Special

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Speaker 5: Prosecutor Nathan Wade began. It got personal, and d A.

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Speaker 5: Willis had some fiery exchanges.

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Speaker 6: Highly offensive when someone lies on you, And it's highly

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Speaker 6: offensive when the implicate that you slept with somebody.

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Speaker 1: The first day you met with them.

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Speaker 7: And I take.

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Speaker 5: Exception too, And she says, the roles in this hearing

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Speaker 5: are reversed.

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Speaker 8: You've been intrusive into people's personal lives.

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Speaker 7: You're confused.

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Speaker 1: You think I'm on trial.

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Speaker 9: These people are on trial for trying to steal an

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Speaker 9: election in twenty twenty.

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Speaker 1: I'm not on trial now.

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Speaker 5: The fate of how the charges against Donald Trump will

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Speaker 5: be prosecuted lieon balance at Baxter Bloomberg Radio, all right.

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Speaker 10: And thank you.

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Speaker 3: While Donald Trump faces those legal issues, Nicky Haley's trying

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Speaker 3: to turn them to her political advantage. The former South

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Speaker 3: Carolina governor says, re Reupblicans can't win if their front

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Speaker 3: runner is in and out of courtrooms.

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Speaker 11: We lost a vote on my Orcis, We lost a

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Speaker 11: vote on Israel. The r and c chair lost her job,

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Speaker 11: and Trump had his fingerprints on all of it.

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Speaker 1: Everything he touches, we lose.

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Speaker 3: Nicky Haley spoke at a rally last night in Dallas.

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Speaker 3: That sound came from the city's ABC affiliate. Recent polls

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Speaker 3: show Haley trailing Trump by more than thirty percentage points

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Speaker 3: in her home state of South Carolina. Texas holds its

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Speaker 3: primary on Super Tuesday, March fifth. Trump holds a more

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Speaker 3: than sixty point lead there.

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Speaker 2: And there's a new legal development in the investigation of

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Speaker 2: the President Biden's son Hunter. The special counsel in the case,

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Speaker 2: Stevid Weiss, has charged a longtime FBI informat with lying

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Speaker 2: about the Ukrainian energy company Barisma paying millions of dollars

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Speaker 2: in bribes to Hunter. Biden and his father. House Republicans

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Speaker 2: are holding impeachment hearings based on the idea that President

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Speaker 2: Biden benefited financially from his son's business dealings.

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Speaker 3: John Let's turn our attention now to the economy and

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Speaker 3: another FED official saying there's no rush to cut interest rates.

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Speaker 3: Atlanta FED President Rafael Bostik spoke in New York yesterday.

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Speaker 12: We will likely soon contemplate the appropriate time for monetary

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Speaker 12: policy to become less restrictive right now. A strong labor

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Speaker 12: market and macroeconomy offer the chance to execute these policy

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Speaker 12: decisions without oppressive urgency.

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Speaker 3: Atlanta FED President Rafael Bostick says he anticipates the first

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Speaker 3: cut to come in the third quarter of this year.

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Speaker 2: And Bostik and the rest of the Fed officials are

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Speaker 2: going to have another key economic report to digest this morning.

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Speaker 2: Where to get the producer price report for the month

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Speaker 2: of January. And meanwhile, in Asia, consumers spending at China

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Speaker 2: picking a Bloomberg day Break Asia an Orbrian Curtis as

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Speaker 2: more from Hong Kong.

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Speaker 8: Official media say more than sixty one million rail trips

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Speaker 8: were made in the first six days of the Lunar

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Speaker 8: New Year holiday. That was the highest in data compiled

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Speaker 8: by Bloomberg in the last five years. Hotel sales on

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Speaker 8: e commerce platform served more than sixty recent from a

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Speaker 8: year earlier, according to the reports. Frederick Newman, HSBC's chief

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Speaker 8: Asia economist, says the Chinese consumer is beginning to stir

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Speaker 8: the spending anecdotes helped boost market sentiment this week in

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Speaker 8: Hong Kong and China reopens on Monday.

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Speaker 2: In Hong Kong.

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Speaker 8: Brian Curtis, Bloomberg Radio.

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Speaker 3: All right, Brian, thank you. In corporate news, another major

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Speaker 3: company is cutting jobs. We get the details from Bloomberg's

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Speaker 3: Lisa Matteo, Lisa Nathan.

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Speaker 9: Nike, they're looking to cut costs in order to counter

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Speaker 9: a weaker outlook. Now, the sportswear giant will slash its

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Speaker 9: global workforce by about two percent. Nike has nearly eighty

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Speaker 9: four thousand employees worldwide, according to a memo that was

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Speaker 9: seen by Bloomberg. The layoffs they'll happen in two phases,

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Speaker 9: the first phase kicking off today. The second round will

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Speaker 9: be completed by the company's fourth quarter. Now. Back in December,

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Speaker 9: Nike said it was looking for as much as two

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Speaker 9: billion dollars in cost savings in New York. I'm Lisa Matteo,

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Speaker 9: Bloomberg Radio.

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Speaker 2: R Lisa, thank you, and Bloomberg News has learned that

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Speaker 2: Apple is finalizing work on a new artificial intelligence tool

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Speaker 2: for app developers. It's understood that the new system will

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Speaker 2: use AI to create code more quickly and compete with

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Speaker 2: Microsoft's rival system. And Bloomberg Technology correspondent Mark German has

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Speaker 2: more from Los Angeles.

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Speaker 13: The way Apple looks at AI, They're not going to

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Speaker 13: release a Chapbow. They're not going to release a chat

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Speaker 13: GPT competitor, despite having one internally. They're going to apply

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Speaker 13: artificial intelligence to their applications where it makes sense, and

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Speaker 13: one place it makes sense is for development of.

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Speaker 2: Software, and Bloomberg's Mark German says sources have told him

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Speaker 2: that Apple's next iPhone and iPad software updates will also

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Speaker 2: include a slew of new artificial intelligence features.

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Speaker 3: Time now to take a look at some of the

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Speaker 3: other stories making news around the world, and for that

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Speaker 3: we're joined by Bloomberg's Michael Barr once again.

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Speaker 5: Good morning Michael, Good morning Nathan.

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Speaker 4: President Joe Biden again urged Israeli Prime Minister Benjamin det

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Speaker 4: Yahoo to hold off on an assault on the southern

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Speaker 4: Gaza city of Rafa without a plan to protect civilians.

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Speaker 4: It is the latest US effort to head off a

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Speaker 4: humanitarian catastrophe as Israel prepares for an attack, the White

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Speaker 4: House says. In a call to net Yahoo, Biden reiterated

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Speaker 4: his view that a military operation should not proceed without

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Speaker 4: a credible and executable plan for ensuring the safety of

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Speaker 4: the support of the civilians.

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Speaker 7: In Raffa.

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Speaker 4: The White House is downplaying the risks from an anti

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Speaker 4: satellite weapon that Russia is developing. Bloomberg's Nancy lyons as details.

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Speaker 1: National Security Council spokesman John Kirby says the weapon has

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Speaker 1: not been deployed and there is no imminent threat, but

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Speaker 1: he does admit there is concern.

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Speaker 10: We plan to engage directly with the Russians about this,

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Speaker 10: and as well as allies and partners, and as I said,

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Speaker 10: we'll continue to work through what our next steps and

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Speaker 10: our approaches might be.

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Speaker 1: Kirby's revelation comes after House Intelligence Committee Chairman Mike Turner

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Speaker 1: issued a cryptic statement Wednesday about an unspecified national security

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Speaker 1: threat that he wanted the White House to declassify. In Washington,

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Speaker 1: Nancy lyons Bloomberg Radio.

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Speaker 4: Three adult victims remain in critical condition after Wednesday's deadly

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Speaker 4: shooting at the Super Bowl rally in Kansas. City. Officials

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Speaker 4: say now only three of the injured children remain hospitalized,

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Speaker 4: and all of the children are expected to make a

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Speaker 4: full recovery. Kansas City Mayor pro tem Rihanna Parkshaw spoke

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Speaker 4: individual for the shooting victims last night.

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Speaker 11: Remember that we are not defined by this tragedy.

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Speaker 14: We are defined by our courage, our strength, and our

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Speaker 14: waver Ray spirit.

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Speaker 4: More than twenty people were wounded and one was killed

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Speaker 4: in the shooting. Forty three year old Lisa Lopez Galvaan,

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Speaker 4: a mother of two and popular radio DJ in the area.

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Speaker 4: Two juveniles are in custody for the shooting. Two New

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Speaker 4: York Fire Department senior chiefs are caught up in a

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Speaker 4: corruption investigation. Authorities say they conducted searches of the FDNYA

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Speaker 4: headquarters and the homes of the chiefs on whether they

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Speaker 4: had improperly accepted payments. According to The New York Times,

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Speaker 4: chief Anthony Soakovino's Brooklyn home and Deputy Chief Brian Cordasco's

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Speaker 4: Staten Island home were searched. The two men oversee safety inspections.

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Speaker 4: Global news twenty four hours a day and whenever you

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Speaker 4: want it with Bloomberg News.

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Speaker 7: Now.

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Speaker 4: I'm Michael Barr. This is Bloomberg.

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Speaker 10: Nathan.

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Speaker 3: Okay, Michael, thank you, time out for the Bloomberg Sports

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Speaker 3: update brought to you. I tri State outie with that,

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Speaker 3: here's John Stshout.

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Speaker 14: All right, Nathan, we you have a sellout crowd. So

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Speaker 14: I'm playing paying top dollar at Iowa last night to

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Speaker 14: see Caitlin Clark drain a long three point about two

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Speaker 14: minutes of the game that gave her the NCAA women's

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Speaker 14: basketball scoring record. She went on to score forty nine points,

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Speaker 14: her career high. Iowa won by seventeen Hawkeys are twenty

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Speaker 14: three and three football free weekends. Now we do have

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Speaker 14: for what it's worth, the NBA All Star Game Sunday

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Speaker 14: night at Indianapolis. The next Jailen Brunson, first time All Star.

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Speaker 14: He'll also be in tomorrow Night's three Point Contest. The

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Speaker 14: Slam Dunk will include the Celtics All Star Jalen Brown,

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Speaker 14: as well as Jacob Tompen. He's a Nick, although he's

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Speaker 14: only scored two points all season. His brother Obi won

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Speaker 14: the Slam Dunk as a Nick two years ago. Last

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Speaker 14: year's winner was Matt McClung. He's back to defend his

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Speaker 14: title even though he doesn't play in the NBA.

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Speaker 4: He's in the g League.

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Speaker 14: Last game before the break so Golden State win at

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Speaker 14: Utah won forty one to thirty seven. Klay Thompson off

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Speaker 14: the bench, scored thirty five points at the Garden. Six

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Speaker 14: straight win for the Red Hot Rangers. They beat Montreal

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Speaker 14: seven to for the hat trick for Chris Cryder. Devil's

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Speaker 14: lost to the Kings to the one. Bruins lost to

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Speaker 14: the crack in four to one. Genesis Golf in La,

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Speaker 14: Patrick Cantley shot sixty four, leads by one. Tiger Woods

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Speaker 14: shot a seventy two. At spring training, MLB commissioner Rob

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Speaker 14: Manfred met the media and talked about his future.

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Speaker 6: Look, I'm sixty five, Okay, I just started a five

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Speaker 6: year term.

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Speaker 5: That do that math right?

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Speaker 6: That makes me seventy years old. He can only have

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Speaker 6: so much fun in one lifetime. I have been open

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Speaker 6: with them about the fact that this is going to

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Speaker 6: be my last term Manford.

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Speaker 14: When he steps down, we'll have had the job for

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Speaker 14: fourteen years. Sixty one year old ex Matt Lennydister is

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Speaker 14: in an LA hospital after suffering a stroke. John Staneshawer

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Speaker 14: Bloomberg sports.

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Speaker 10: From coast to coast, from New York to San Francisco,

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Speaker 10: Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg

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Speaker 10: Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning.

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Speaker 3: I'm Nathan Hager, the legal and the political are colliding

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Speaker 3: on multiple fronts at an end of a very busy

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Speaker 3: week for former President Donald Trump. Today he awaits a

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Speaker 3: verdict from the judge in the New York civil fraud

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Speaker 3: trial and how much damages he's going to have to pay.

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Speaker 3: And that'll come a day after the former president learned

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Speaker 3: when he's going to stand trial in the Stormy Daniel's

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Speaker 3: hush money case. And it all comes in the middle

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Speaker 3: of a presidential primary calendar that is also about to

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Speaker 3: get even more crowded. So let's get into all of

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Speaker 3: this now. We're joined by Greg Valiere, the chief US

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Speaker 3: policy strategist at AGF Investments. Greg, we've talked time and

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Speaker 3: time again about how this former president has been able

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Speaker 3: to turn his legal woes to his political advantage. But

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Speaker 3: it seems like that's really going to be put to

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Speaker 3: the test, not just today but over the next several days.

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Speaker 4: Perhaps.

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Speaker 7: Well you're right, Nathan, good morning. But at the same time,

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Speaker 7: I've looked at some polls in the last day or

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Speaker 7: two around the country. They are unbelievable numbers. Trump in

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Speaker 7: every key state in their primaries is up by forty

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Speaker 7: to fifty sixty points. So it's going to take a

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Speaker 7: lot to knock his numbers down.

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Speaker 3: At the same time, we've had our own polling of

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Speaker 3: swing state voters that we've conducted Bloomberg News and Morning

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Speaker 3: Consult showing that if former President Trump is convicted of

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Speaker 3: a crime, that support could start to wane. So, given

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Speaker 3: what we're seeing here, the fact that the former president

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Speaker 3: is about to face a verdict, not in a criminal case,

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Speaker 3: but a verdict nonetheless, what could that mean potentially for

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Speaker 3: his support?

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Speaker 7: Well, it's not a good story for him, and his

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Speaker 7: numbers could go down a little. I'm not sure it

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Speaker 7: would be determinative, but yeah, you look at everything out

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Speaker 7: there now, I have a hard time figuring out how

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Speaker 7: Georgia fits into all of this. But wouldn't it be

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Speaker 7: ironic if hush money, if those payments turned out to

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Speaker 7: be his biggest albatross, It.

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Speaker 3: Would be interesting given that we've heard from a number

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Speaker 3: of analysts that that could perhaps be the weakest case

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Speaker 3: against former President Trump. Let's talk about this Georgia case,

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Speaker 3: because we did really see some fiery testimony yesterday from

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Speaker 3: the Fulton County District Attorney. Fannie Willis trying to turn

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Speaker 3: the tables on this idea that she lied about her

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Speaker 3: relationship with the special prosecutor in the case, Nathan Wade,

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Speaker 3: How do you see this playing out? Could this scandal

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Speaker 3: potentially have an impact on the substance of this matter

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Speaker 3: that the former president is accused of trying to put

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Speaker 3: his thumb on the scales in twenty twenty in Georgia.

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Speaker 7: Well maybe, I mean, her credibility has taken quite a hit,

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Speaker 7: and I think that's a plus for Trump. But at

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Speaker 7: the same time, I think the idea that she would

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Speaker 7: be thrown off the case probably is less than a

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Speaker 7: fifty to fifty chance.

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Speaker 3: What makes you say that? Why is it less than

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Speaker 3: fifty to fifty Because.

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Speaker 7: I don't think the alleged offenses are that tied to

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Speaker 7: the Donald Trump trying to change votes in Georgia. I

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Speaker 7: think they're largely two separate issues.

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Speaker 3: And on top of that, we have the federal election

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Speaker 3: interference case coming up before the Supreme Court. We got

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Speaker 3: to wait for a decision on whether that's going to

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Speaker 3: be put to trial before November. But which of those

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Speaker 3: do you think is more weighty against this former president?

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Speaker 3: Is this Georgia case that's unfolding now or the Special

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Speaker 3: Council case that could be coming up after the Supreme

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Speaker 3: Court makes its decision.

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Speaker 7: Frankly, if you look at the document's case, document's going

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Speaker 7: to mar A Lago. That's a felony. And I think

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Speaker 7: he's still in trouble on that. I think he's still

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Speaker 7: in trouble on January sixth. And I'd add one other thing, Nathan.

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Speaker 7: It's not exactly a court case, but this was not

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Speaker 7: a good week for Trump in terms of things that

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Speaker 7: he said, inviting Russia to attack a NATO member that

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Speaker 7: just mad people incredulous here in Washington. So he's not

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Speaker 7: a shoe in to win the general election, but I

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Speaker 7: still think he's a shoe in to win the nomination.

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Speaker 3: It is one of those matters that Nicki Haley has

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Speaker 3: tried to take advantage of as well, the rhetoric that

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Speaker 3: we heard from the former president and we heard again

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Speaker 3: from her last night, trying to seize on the legal

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Speaker 3: issues with this line that everything that former President Trump touches,

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Speaker 3: we lose. Is there still time for Nicki Haley to

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Speaker 3: turn that argument to her political advantage when we've got

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Speaker 3: a South Carolina primary coming up in just a little

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Speaker 3: more than a week.

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Speaker 7: Yeah, probably not. You look at some of the things

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Speaker 7: that Trump has done in some of her responses, and

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Speaker 7: you'd think it would be a tightening race. But it's

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Speaker 7: one of those polls. You look at South Carolina and

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Speaker 7: she trails by at least forty points in every poll

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Speaker 7: that I see.

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Speaker 3: How do you account for the fact that former President

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Speaker 3: Trump has been able to run away with the Republican vote,

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Speaker 3: at least in terms of the polling.

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Speaker 7: Well, obviously this has been said by so many people,

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Speaker 7: But obviously his base is rock solid and just would

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Speaker 7: do anything for him. I think there's also the feeling

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Speaker 7: that he stirs the pot, and I think in the

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Speaker 7: country people want to see somebody stir the pot, and

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Speaker 7: he's good at that.

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Speaker 3: Also, want to get your take on the development in

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Speaker 3: the other Special Council case, this one regarding Hunter Biden

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Speaker 3: and this finding that the FBI informant in the case

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Speaker 3: is now charged with lying. What could that mean for

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Speaker 3: the impeachment proceedings going on against President Biden that are

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Speaker 3: related to us on Capitol Hill.

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Speaker 7: I just finished reading the story on that, and assuming

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Speaker 7: that it's accurate, I think this is a real plus

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Speaker 7: for Joe Biden. I think it'll be hard to make

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Speaker 7: an impeachment case if you've got an informant who who

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Speaker 7: conducted himself very poorly on this A big plus for Biden.

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