WEBVTT - Donald Trump Faces Arraignment in New York

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<v Speaker 1>From the Bloomberg Interact at Burgers Studios. This is Bloomberg

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<v Speaker 1>day Break for Tuesday, April fourth. Coming up today, Donald

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<v Speaker 1>Trump is arraigned in Manhattan following his indictment by a

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<v Speaker 1>New York grand jury. Both the former president and Manhattan

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<v Speaker 1>District Attorney speak at separate events following the arrangement. The

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<v Speaker 1>judge in the case bars any broadcasts to the proceedings

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<v Speaker 1>and credit Sweez holds its first shareholder meeting since the

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<v Speaker 1>Ubs takeover. A construction accident at JFK Airport leaves two

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<v Speaker 1>workers dead, plus new details on the Nashville school shooter.

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<v Speaker 1>I'm Michael barn More ahead, I'm John Stash Aaron Sports.

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<v Speaker 1>The Yukon Huskies won the Nclblad Tournament for the fifth time.

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<v Speaker 1>The Yankees won, the Mets lost. That's all straight Ahead

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<v Speaker 1>on Bloomberg day Break, The business news you need disturn

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<v Speaker 1>your day, and just one fifteen minute podcast each pointing

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<v Speaker 1>on Apples, Spotify, the Bloomberg Business Appen everywhere you get

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<v Speaker 1>your podcasts. Good morning, I'm Nathan Hager and I'm Cameron Moscow.

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<v Speaker 1>Here are the stories we're following today. We begin this

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<v Speaker 1>morning on a historic day with former President Donald Trump

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<v Speaker 1>said to be a rain in Manhattan. Let's get the

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<v Speaker 1>latest live with Bloomberg's John Tucker. John Nathan, the forty

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<v Speaker 1>fifth President flew to New York from Florida yesterday and

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<v Speaker 1>proceeded by motorcade to Trump Tower on Fifth Avenue, where

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<v Speaker 1>he's spending the night. From there, he's going to travel

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<v Speaker 1>to Criminal Court in Lower Manhattan this morning and stand

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<v Speaker 1>before New York State Supreme Court Justice one merchant to

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<v Speaker 1>be arraigned and booked on charges related to hush money payments.

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<v Speaker 1>At the White House, President Biden was asked if he

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<v Speaker 1>was concerned about possible protests getting out of hand nor

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<v Speaker 1>her faith to New York. There is a massive police

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<v Speaker 1>presence in the city this morning. The New York Young

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<v Speaker 1>Republican Club is promoting what it calls a peaceful rally

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<v Speaker 1>for Trump across from the Court House. It's supposed to

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<v Speaker 1>feature Congresswoman Marjorie Taylor Green. Meantime, Trump has added another

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<v Speaker 1>attorney to his team, former federal Prosecutor Todd blanche the DA.

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<v Speaker 1>Alvin Bragg will have a press conference after the arraiment,

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<v Speaker 1>and Donald Trump is expended to make remarks from Maral logo. Tonight,

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<v Speaker 1>Live in New York, I'm John Tucker, Bloomberg Daybreak. All right, John,

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<v Speaker 1>Thanks Well, don't expect to see any of the actual

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<v Speaker 1>legal proceedings today. Much of it will happen behind closed doors,

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<v Speaker 1>and we get the details from Bloomberg. Steve Rappaport, Steve

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<v Speaker 1>Karen Nathan. Today's arraignment is a test of precedence and patience,

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<v Speaker 1>as the judge denied a request from news organizations to

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<v Speaker 1>broadcast the former president's appearance. Forget about reporters tweeting in

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<v Speaker 1>real time. Judge Juan Merchant also barred all electronic devices.

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<v Speaker 1>Members of the press and public will have access to

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<v Speaker 1>an overflow room to watch through closed circuit TV. Anyone

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<v Speaker 1>not on site. We'll get a glimpse of Trump in

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<v Speaker 1>the hallway or in the courtroom before the hearing gets underway.

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<v Speaker 1>Those are the only moments that news photographers will be

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<v Speaker 1>allowed to snap today, Live in New York. I'm Steve Rappaport,

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<v Speaker 1>Bloomberg Daybreak. Thank you, Stevell. The more legal pressure former

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<v Speaker 1>President Trump faces, the stronger he gets. That's according to

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<v Speaker 1>Trump's former acting White House Chief of Staff, Mick Mulvaney.

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<v Speaker 1>The reason he says, is because it keeps the spotlight

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<v Speaker 1>on him and off his opponents. If everybody's talking about

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<v Speaker 1>the same thing, how do you get separation from the

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<v Speaker 1>rest of the pack? Question becomes what makes you different?

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<v Speaker 1>What makes you better? Why should I vote for you

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<v Speaker 1>instead of Donald Trump? If I think the world is

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<v Speaker 1>going in the wrong direction, why are you more likely

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<v Speaker 1>to move it back to Donald Trump? That's what they

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<v Speaker 1>have to answer. Mcmulvaney spoke with our Washington correspondent Joe

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<v Speaker 1>Matthew on Bloomberg's Sound on. You can catch the show

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<v Speaker 1>weekdays at one pm Eastern on Bloomberg Radio or listen

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<v Speaker 1>on demand wherever you get your podcasts. Well, we turn

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<v Speaker 1>to the markets now, Nathan, and oil is rising again.

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<v Speaker 1>It's building on yesterday's six percent rally. Right now, NIMEX

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<v Speaker 1>Screwed oil is up four tenths of up percent. It's

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<v Speaker 1>at eighty dollars seventy three cents A barrel brand is

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<v Speaker 1>up a quarter percent at eighty five dollars fifteen cents.

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<v Speaker 1>And the game comes as President Biden downplays the announced

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<v Speaker 1>production cut from OPEC, but the move puts administration officials

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<v Speaker 1>in a tricky position and Bloomberg's Amy Morris has details

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<v Speaker 1>from our ninety nine one newsroom in Washington. Administration officials

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<v Speaker 1>are trying to find a balance between denouncing the move

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<v Speaker 1>and not souring relations with Saudi Arabia. National Security Council

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<v Speaker 1>spokesman John Kirby says they were warned the cut was coming,

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<v Speaker 1>but they don't know what prompted it. I can't even

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<v Speaker 1>begin to speculate why this decision was made. We don't know.

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<v Speaker 1>We've been consistent in our plans to refill the Strategic

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<v Speaker 1>Petroleum Reserve. Kirby pointed out crude oil prices have fallen significantly,

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<v Speaker 1>and he says the decision was made by the entirety

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<v Speaker 1>of the OPEC plus cartel, suggesting the US did not

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<v Speaker 1>hold the Saudis solely responsible. In Washington, I'm Amy Morris,

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<v Speaker 1>Bloomberg Daybreak, Thanks Amy. High oil prices are leading to

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<v Speaker 1>concerns about hotter inflation. Still, Federal Reserve Governor Lisa Cook

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<v Speaker 1>says price pressure is starting to ease. At the same time,

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<v Speaker 1>she warns the fight against inflation remains front and center

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<v Speaker 1>thanks to a tight labor market, the war in Ukraine

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<v Speaker 1>and the reopening of China saying wage games moderating quite

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<v Speaker 1>a bit, so that I think is a hopeful side.

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<v Speaker 1>But the disinflationary processes and I think it's it's it's

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<v Speaker 1>in process, it's in train. We're not there yet. FED

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<v Speaker 1>Governor Lisa Cook says the Central Bank remains focused solely

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<v Speaker 1>on fighting inflation because the job market seems to be

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<v Speaker 1>doing all right well in Europe today, Nathan credit swieholds

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<v Speaker 1>a shareholder meeting. It's the first and last opportunity for

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<v Speaker 1>them to speak directly to the board after a government

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<v Speaker 1>orchestrated rescue of the bank. And Bloomberg's Maryon Halfdemeyers and

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<v Speaker 1>Zurich covering the meeting for US. This is the first

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<v Speaker 1>time in three years that shareholders will actually be able

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<v Speaker 1>to be face to face with their board of directors

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<v Speaker 1>because in the last couple of years, the pandemic has

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<v Speaker 1>has made these agms virtual. So this will be, you know,

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<v Speaker 1>an opportunity for shareholders to event about the last three

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<v Speaker 1>years of scandals and mismanagement at this bank um and

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<v Speaker 1>you know, the last time that they will be able

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<v Speaker 1>to do so. Once this, you know, this bank marks

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<v Speaker 1>with CBS and Bloomberg's Maryon Holftelmeyer says. Credit Swiss chairman

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<v Speaker 1>Axe Lehman has our Axel Lehman has apologized to shareholders

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<v Speaker 1>for failing to stem the crisis. Back here in the US,

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<v Speaker 1>Karen job cuts are coming to the largest private sector employer, Walmart,

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<v Speaker 1>is eliminating more than two thousand positions at five e

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<v Speaker 1>commerce fulfillment centers. A spokesman says Walmart is also growing

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<v Speaker 1>in some areas as it adjusts its stores and fulfillment

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<v Speaker 1>centers to handle more online orders. That may allow the

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<v Speaker 1>company to reshuffle some workers to other jobs rather than

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<v Speaker 1>cut them. It's forty nine degrees in New York. It'll

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<v Speaker 1>be partly sunny today, getting into the upper sixties. Chance

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<v Speaker 1>for a few showers this evening on our way down

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<v Speaker 1>to the low fifties. Time now to take a look

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<v Speaker 1>at some of the other stories making news in New

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<v Speaker 1>York and around the world. Good morning, Michael Barr, Good

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<v Speaker 1>morning Nathan. A horrible accident at JFK Airport has left

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<v Speaker 1>two construction workers dead. It happened during a trench collapse yesterday.

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<v Speaker 1>Rescue crews tried to save the workers from the rubble,

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<v Speaker 1>but they were both pronounced dead on the scene. The

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<v Speaker 1>accident happened near Terminals five and seven. New details in

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<v Speaker 1>the last week school shooting in Nashville. Police say the

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<v Speaker 1>attack on Covenant School was planned for months. Authorities also

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<v Speaker 1>say the shooter, twenty eight year old Audrey Hale, unleashed

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<v Speaker 1>more than one hundred and fifty bullets before being taken

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<v Speaker 1>down by officers gunfire. Three children and three adults were killed. Meanwhile,

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<v Speaker 1>Republicans and Tennessee have taken the first steps to remove

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<v Speaker 1>three Democratic lawmakers, citing their involvement in gun control rallies

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<v Speaker 1>at the state capitol. The Tennessee House will vote Thursday

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<v Speaker 1>whether to expel Gloria Johnson, Justin Jones, and Justin Pearson.

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<v Speaker 1>Congressman Pearson defended himself on the House floor. If this

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<v Speaker 1>House decides to expel me for exercising our First Amendment

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<v Speaker 1>right to help elevate the voices in our community who

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<v Speaker 1>want to see us act to prevent gun violence, then

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<v Speaker 1>they can do as they feel they must. But I

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<v Speaker 1>and we must always stand up for what we believe

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<v Speaker 1>to be right and just. This comes as students and

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<v Speaker 1>teachers across the Nashville area walked out of class and

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<v Speaker 1>marched on the Tennessee State Capitol demanding stricter gun. The

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<v Speaker 1>NYPD says two of the three suspects wanted in the

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<v Speaker 1>drugging depths of two men after they left clubs in

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<v Speaker 1>Manhattan have surrendered to detectives. Robert Demo turned himself into police.

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<v Speaker 1>Jacob Barroso was arrested on Saturday. Chicago voters are choosing

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<v Speaker 1>a new mayor to lead the heavily democratic city. Today's

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<v Speaker 1>runoff pits former Chicago School CEO Paul Vallis against progressive

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<v Speaker 1>Brandon Johnson. NASA revealed which astronauts are going to the

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<v Speaker 1>Moon in their latest project, and includes Commander Reed Weissman,

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<v Speaker 1>pilot Victor Glover, Canadian astronaut Jeremy Hanson, and mission specialist

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<v Speaker 1>Christina Cook becoming the first woman to travel into the Moon.

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<v Speaker 1>We recognize how important it is that every single person

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<v Speaker 1>who has a contribution to make is going to be

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<v Speaker 1>able to make that contribution, and our missions will be

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<v Speaker 1>more successful as a result. The Artemists two Crew is

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<v Speaker 1>expected to launch in November of twenty twenty four. Global

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<v Speaker 1>News twenty four hours a day, powered by more than

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<v Speaker 1>twenty seven hundred journalists and analysts, and over one hundred

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<v Speaker 1>and twenty countries. Michael Mayer, this is Bloomberg, Nathan. Thank you, Michael.

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<v Speaker 1>Time now for our Bloomberg Sports update. For that, we're

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<v Speaker 1>bringing John's stash our all right, Nathan. Amazing what the

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<v Speaker 1>Yukon Huskies have done over the last less than thirty years.

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<v Speaker 1>Eleven national championships in women's basketball and now five more

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<v Speaker 1>by the men. They've won with three different coaches. Jim

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<v Speaker 1>Calhoun won three titles, Kevin Ollie won nine years ago,

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<v Speaker 1>and then Houston another NCAA tournament. Wrapped up by the Huskies.

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<v Speaker 1>They meet San Diego State in the final, seventy six

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<v Speaker 1>to fifty nine. Their coach now is Dan Hurley. So

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<v Speaker 1>it feels great to come through on promises made by

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<v Speaker 1>me to all the great people in Connecticut and then

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<v Speaker 1>with these guys. This was our vision, this was our dream.

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<v Speaker 1>This is what we talked about when we recruited these guys,

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<v Speaker 1>that we could get together and do something big like this,

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<v Speaker 1>And it's just great to come through on promises made

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<v Speaker 1>to players and to this universe. Earlier, the son of

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<v Speaker 1>a hall of fame high school coaching legend in New Jersey,

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<v Speaker 1>Yukon had some down years. Came into this season having

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<v Speaker 1>not won a single NCWA Tourney games since twenty sixteen,

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<v Speaker 1>and this year they won six tourney games, and they

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<v Speaker 1>won them by an average of twenty points. Yankees third

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<v Speaker 1>one of the season. They've only allowed one run. Of

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<v Speaker 1>those three wins at the Stadium eight to one over

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<v Speaker 1>the still winless Phillies. Nestor Cortez got to win home

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<v Speaker 1>runs by Claver Torres and Anthony Rizzo. Mets lost in

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<v Speaker 1>Milwaukee ten to nothing Brewers with a seven run fifth

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<v Speaker 1>inning included a Bryce Terrangue grand slam. Carlos Carrasto gave

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<v Speaker 1>up five runs and then Tommy Hunter served up five more.

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<v Speaker 1>Carrasto got called for a pitchclock violation before his first

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<v Speaker 1>pitch of the day. Anthony Randona the Angels suspended four

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<v Speaker 1>games by MLBA. Video caught him making physical contact with

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<v Speaker 1>a fan in Oakland. Nets and Devils have home games tonight.

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<v Speaker 1>John stash Award Bloomberg Sports Live from coast to coast,

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<v Speaker 1>from New York to San Francisco, Boston to Washington, d C.

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<v Speaker 1>Nationwide on Sirius XM, the Bloomberg Business app, and Bloomberg

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<v Speaker 1>dot Com. This is Bloomberg Day Break. Good morning, I'm

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<v Speaker 1>Nathan Hager. Will be another historic day in the unprecedented

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<v Speaker 1>presidency and post presidency of Donald Trump. In just a

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<v Speaker 1>few hours, he will arrive at a courthouse in Lower

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<v Speaker 1>Manhattan to enter a not guilty plead to the first

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<v Speaker 1>ever criminal charges against a former president. Ahead of that,

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<v Speaker 1>we're joined live by Bloomberg's Pretty Guta. She's outside the

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<v Speaker 1>courthouse for us this morning. Go ahead and set the

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<v Speaker 1>scene for us, pretty What are we expecting later today? Well,

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<v Speaker 1>I'm standing right outside the District Attorney's office in the

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<v Speaker 1>courthouse in southern Manhattan or downtown Manhattan. For our global audience,

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<v Speaker 1>this is basically right on the cost of Wall Street.

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<v Speaker 1>What you're seeing here is a very escalated media president.

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<v Speaker 1>You're seeing a lot of barricade, and you're forcing a

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<v Speaker 1>lot of press presidents as well. Essentially, the New York

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<v Speaker 1>community is bracing for some sort of widescale impact protest

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<v Speaker 1>rallies in preparation for President Trump's or former President Trump's

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<v Speaker 1>arraignment right out here where I'm standing from the courthouse.

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<v Speaker 1>And what kind of commotion could we expect. We'd heard

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<v Speaker 1>some reports that there might be some kind of demonstration

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<v Speaker 1>involving or what the New York Young Republicans, what's that about. Well,

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<v Speaker 1>there are a lot of different groups here on both

0:12:05.920 --> 0:12:08.199
<v Speaker 1>sides of this issue. Remember, I think for a global audience,

0:12:08.200 --> 0:12:10.559
<v Speaker 1>it is important to remember he is still a former

0:12:10.679 --> 0:12:12.880
<v Speaker 1>content is still not only a former president, but a

0:12:12.880 --> 0:12:15.920
<v Speaker 1>contender for the twenty twenty four presidential election. You are

0:12:15.920 --> 0:12:20.040
<v Speaker 1>going to see both protests and rallies supporting and trying

0:12:20.080 --> 0:12:22.960
<v Speaker 1>to push him out as well really talking about what

0:12:23.120 --> 0:12:26.320
<v Speaker 1>the charges actually are when it comes to what he's

0:12:26.360 --> 0:12:29.000
<v Speaker 1>really responsible for. A look, people are holding him accountable

0:12:29.040 --> 0:12:31.560
<v Speaker 1>for things like a role in the Capital Insurrection, either

0:12:31.640 --> 0:12:33.679
<v Speaker 1>one of the potential charges he will be charged with

0:12:33.880 --> 0:12:36.600
<v Speaker 1>today in the arraignment, things like what his role wasn't

0:12:36.840 --> 0:12:41.520
<v Speaker 1>overturning the Georgia election count in twenty twenty in addition,

0:12:41.600 --> 0:12:44.400
<v Speaker 1>of course, to the alleged hush money payments of one

0:12:44.440 --> 0:12:47.760
<v Speaker 1>hundred and thirty thousand former adult film star Stormy Daniels,

0:12:47.800 --> 0:12:50.680
<v Speaker 1>among others. So there's a lot to digest here, and

0:12:50.720 --> 0:12:52.880
<v Speaker 1>of course, like I said, you are really preparing not

0:12:52.920 --> 0:12:54.920
<v Speaker 1>just for that group that you mentioned, but for a

0:12:54.920 --> 0:12:56.920
<v Speaker 1>lot of different groups to show up here. But perhaps

0:12:56.920 --> 0:12:59.800
<v Speaker 1>show up more near his home in Trump's Hower, closer

0:12:59.840 --> 0:13:01.880
<v Speaker 1>to Central Park, and that's really where we're going to see.

0:13:01.920 --> 0:13:04.200
<v Speaker 1>They already have seen a lot of the actions now

0:13:04.200 --> 0:13:07.000
<v Speaker 1>in terms of the case that's coming forward today, this

0:13:07.120 --> 0:13:11.280
<v Speaker 1>is related to the hush money payments to Stormy Daniels

0:13:11.320 --> 0:13:14.880
<v Speaker 1>during the twenty sixteen campaign. But as far as that goes,

0:13:14.960 --> 0:13:17.080
<v Speaker 1>we've heard a number of reports that there could be

0:13:17.480 --> 0:13:20.400
<v Speaker 1>multiple counts against the former president, but at this point

0:13:20.440 --> 0:13:23.959
<v Speaker 1>we don't really know exactly what they are, right, No,

0:13:24.120 --> 0:13:26.120
<v Speaker 1>we don't. We're looking for anywhere as it's twenty four

0:13:26.240 --> 0:13:30.440
<v Speaker 1>to thirty different charges. Now, the assumption here is Alan

0:13:30.480 --> 0:13:32.480
<v Speaker 1>Bragg is going to pursue the one hundred and thirty

0:13:32.480 --> 0:13:35.800
<v Speaker 1>thousand hush money payments that you just reference. But the

0:13:35.920 --> 0:13:37.600
<v Speaker 1>takeaway here is that don't seem to be the game

0:13:37.679 --> 0:13:40.040
<v Speaker 1>changer for Alvin Bragg, and really all comes down to

0:13:40.080 --> 0:13:42.760
<v Speaker 1>his star witness, Michael Cohen, who used to be an

0:13:42.760 --> 0:13:45.800
<v Speaker 1>employee of President Trump and his kind of a fixture

0:13:45.960 --> 0:13:50.839
<v Speaker 1>essentially who allegedly made the payments for President Trump. But

0:13:50.960 --> 0:13:53.360
<v Speaker 1>he's the one who kind of turns code here and said, look,

0:13:53.400 --> 0:13:55.559
<v Speaker 1>I'm happy to be your star witness, and that seems

0:13:55.600 --> 0:13:57.600
<v Speaker 1>to be the game changer, which is why the assumption

0:13:57.679 --> 0:13:59.960
<v Speaker 1>here is that's the account that Alvin Bragg Is pointed

0:14:00.080 --> 0:14:03.600
<v Speaker 1>leader the Tener point there are a lot of other charges. Remember,

0:14:03.600 --> 0:14:05.560
<v Speaker 1>you are also dealing with the New York Attorney General

0:14:05.600 --> 0:14:09.120
<v Speaker 1>Latitia James looking at the same time into President Trump

0:14:09.160 --> 0:14:13.200
<v Speaker 1>and his family members about manipulating company asset values as well.

0:14:13.240 --> 0:14:15.640
<v Speaker 1>So there's a lot to digest here in terms of

0:14:15.640 --> 0:14:18.280
<v Speaker 1>what actually shows up in the chargets today, in terms

0:14:18.320 --> 0:14:21.560
<v Speaker 1>of what we could see at the courtroom later this afternoon.

0:14:22.960 --> 0:14:25.760
<v Speaker 1>The cameras aren't going to be allowed into the courtroom,

0:14:25.760 --> 0:14:27.920
<v Speaker 1>so it could be quite a while before we know

0:14:28.040 --> 0:14:31.200
<v Speaker 1>exactly what the president is charged with in this case,

0:14:31.320 --> 0:14:34.240
<v Speaker 1>isn't it Yes, that's absolutely true. That looks like the

0:14:34.320 --> 0:14:36.360
<v Speaker 1>judge last night made a decision there will be no

0:14:36.480 --> 0:14:40.800
<v Speaker 1>live broadcasting of the arrayment, potentially no live broadcasting of

0:14:40.800 --> 0:14:45.080
<v Speaker 1>the trial itself, but they will, however, allow photographs before

0:14:45.120 --> 0:14:47.200
<v Speaker 1>the arrayment is to start. So you're one hundred percent

0:14:47.280 --> 0:14:49.760
<v Speaker 1>right that we may actually not know what the counsel,

0:14:49.800 --> 0:14:53.720
<v Speaker 1>what's the charges actually are for days, weeks, even months

0:14:53.800 --> 0:14:57.840
<v Speaker 1>as the trial of kick Stock and ahead of this,

0:14:58.040 --> 0:15:01.160
<v Speaker 1>we know that the former president has added to his

0:15:01.760 --> 0:15:05.120
<v Speaker 1>legal defense team. He's gotten even more lawyers behind him.

0:15:05.160 --> 0:15:06.760
<v Speaker 1>What does that tell you about how this could go?

0:15:06.800 --> 0:15:09.560
<v Speaker 1>We got about a minute left. Yeah, we run about

0:15:09.640 --> 0:15:12.320
<v Speaker 1>a quick change to the legal team, and I think

0:15:12.320 --> 0:15:15.400
<v Speaker 1>what's really the takeaway from that, It's going to be

0:15:15.520 --> 0:15:18.280
<v Speaker 1>how the Trump defense team is actually approaching this court case.

0:15:18.360 --> 0:15:23.880
<v Speaker 1>Look over the weekend, who was his lead counsel, Joe Takakina,

0:15:24.000 --> 0:15:25.680
<v Speaker 1>did actually come out and say, Look, we are not

0:15:25.720 --> 0:15:27.640
<v Speaker 1>trying to make this theater We're not trying to make

0:15:27.680 --> 0:15:29.600
<v Speaker 1>the showmanship at all. We're not going to even file

0:15:29.680 --> 0:15:32.080
<v Speaker 1>to dismiss. We are going to plead not guilty. And

0:15:32.120 --> 0:15:34.640
<v Speaker 1>that is a big, big sign because looks of residing

0:15:34.720 --> 0:15:38.200
<v Speaker 1>judge is one merchant who President Trump has very vocally

0:15:38.280 --> 0:15:42.280
<v Speaker 1>said one merchant hates me. So the initial reaction was that, well,

0:15:42.280 --> 0:15:44.240
<v Speaker 1>maybe he would try to get the judge removed. Those

0:15:44.240 --> 0:15:47.120
<v Speaker 1>efforts haven't happened yet, So there is a very very

0:15:47.200 --> 0:15:51.080
<v Speaker 1>large effort to keep this under wrap. This is Bloomberg

0:15:51.160 --> 0:15:54.360
<v Speaker 1>Daybreak Today, your morning brief on the story's making news

0:15:54.440 --> 0:15:57.560
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0:16:13.920 --> 0:16:16.960
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0:16:17.000 --> 0:16:21.000
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0:16:33.000 --> 0:16:36.000
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0:16:36.080 --> 0:16:39.320
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