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Speaker 1: Live from the Bloomberg Interact at Brokers Studios. Is its

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Speaker 1: Bloomberg Daybreak for Friday, March third. Coming up today, Global

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Speaker 1: stocks are on track to snap a three week losing streak.

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Speaker 1: City Group is the latest bank to cut jobs. Wall

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Speaker 1: Street beats out London and attracting financial firm listings, and

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Speaker 1: the war in Ukraine in focus as President Biden hosted

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Speaker 1: Germany's Chancellor, South Carolina attorney Alex Murder convicted a murder,

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Speaker 1: and a New Jersey State trooper recovering from a gunshop wound.

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Speaker 1: I'm John Tucker. It's those stories straight ahead. I'm John

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Speaker 1: stap shown sports, Patrick Kane debut for the Rangers and

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Speaker 1: a home loss to Ottawa. The streaking Dicks visit Miami tonight.

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Speaker 1: That's all straight ahead on Bloomberg day Break. The business

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Speaker 1: news you need disturn your day in just one fifteen

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Speaker 1: minute podcast each pointing on Apple, Spotify, The Bloomberg Business

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Speaker 1: Appen everywhere you get your podcasts. Good morning, I'm Nathan

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Speaker 1: Hagar and I'm Karon Moscow. Here are the stories we're

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Speaker 1: following today. Global stocks are on track for their first

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Speaker 1: weekly gain in a month. The S and P five

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Speaker 1: hundred saw its biggest jump in more than two weeks yesterday.

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Speaker 1: That's after Atlanta FED President Raphael Bostic said the Central

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Speaker 1: Bank could be in a position to pause interest rate

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Speaker 1: increases this summer. JJ Kinahan is CEO at IG North America.

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Speaker 1: The market every time there's some hint that we won't

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Speaker 1: raise at the same pace or we're slow down a

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Speaker 1: little bit starts to rally, People get excited, and then

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Speaker 1: you know, it seems like a few weeks later we

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Speaker 1: raise rates. IG North America's JJ Kinahan thanks FED Chair

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Speaker 1: J Powell will keep raising rates until inflation is in check. Well,

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Speaker 1: the Fed keeps raising rates, Nathan wall Street keeps cutting jobs,

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Speaker 1: and another major financial firm is bringing down the act.

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Speaker 1: So we get the details live at the Bloomberg Steve Rappaport.

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Speaker 1: It's Steve, good morning, Good morning, Karen, and Nathan. Citygroup

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Speaker 1: joins the ranks of big banks downsizing in twenty twenty three.

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Speaker 1: The firm is the eliminating hundreds of positions nationwide. Sources

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Speaker 1: say that cuts amount to less than one percent of

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Speaker 1: the company's two hundred forty thousand person workforce. The move

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Speaker 1: comes weeks after JP Morgan Chase slashed hundreds of jobs.

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Speaker 1: Goldman Sax in January announced plans to lay off thousands

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Speaker 1: of employees. Live in New York. I'm Steve Rappaport Bloomberg Daybreak,

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Speaker 1: All right, Steve, thank you. Now, when it comes to

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Speaker 1: attracting companies, it looks like Wall Streets getting the upper

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Speaker 1: hand over another global financial center, London. Let's head there

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Speaker 1: and get the details live from Bloomberg's uin pods. Good morning, Euan,

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Speaker 1: Good morning Anathan and Karen. First this week, UK Chip

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Speaker 1: Designed Giants Arms that it's choosing New York over London

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Speaker 1: for its forthcoming listing. Then came CRH, one of Europe's

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Speaker 1: biggest building materials companies. It says it's to move its

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Speaker 1: primary listing from them on the stock It's change across

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Speaker 1: the pond to Wall Streets. Among the instructions of the US,

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Speaker 1: a wider investor base and a bigger pool of capital

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Speaker 1: remaining in London. I'm you and Pot's Bloomberg day Break,

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Speaker 1: right new and thank you all. In Asia, China is

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Speaker 1: about to see it's biggest government reached shuffle in decades.

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Speaker 1: As they now Chanel People's Congress begins its latest session

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Speaker 1: Bloombery Daybreak, Asia ancor Brian Curtis as more from Hong

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Speaker 1: Kong a generation of top officials who will make way

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Speaker 1: for politicians better known for ties to President Hijinping than

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Speaker 1: for their academic credentials or industry exposure. China's top internet leaders,

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Speaker 1: like ten Cents, Pony Ma and Bidus Robin Lee, have

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Speaker 1: dropped out of key lawmaking and advisory bodies. They're being

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Speaker 1: replaced by chip researchers and engineers in Hong Kong. Brian Curtis,

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Speaker 1: Bloomberg Daybreak, Brian Thanks. Tensions continue to build between the

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Speaker 1: US and China now the Biden administrations placing export restrictions

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Speaker 1: on dozens of Chinese companies. They include computer server maker

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Speaker 1: Inspur and Lungsun, which could be an alternative to Intel

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Speaker 1: chips in the future. Bloomberg Politics contributor Jeanie Schanzano says

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Speaker 1: the world's two biggest economies are at extreme loggerheads. The

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Speaker 1: idea that there was going to be some kind of

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Speaker 1: cool war now seems to have heated up to this

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Speaker 1: almost fever like pitch, much of it having to do

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Speaker 1: with this fight over microchips. Bloomberg Politics contributor Jeanie Schanzano

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Speaker 1: spoke on Bloomberg Sound on Catches show at its new

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Speaker 1: time one pm Eastern on Bloomberg Radio or listen on

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Speaker 1: demand wherever you get your podcasts well. China's involvement in

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Speaker 1: the war in Ukraine is likely to be a major

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Speaker 1: focus in Washington today. Nathan President Biden is set to

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Speaker 1: host Germany's leader at the White House. Scott Carr has

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Speaker 1: a preview from our Bloomberg ninety nine one newsroom in Washington.

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Speaker 1: German Chancellor all Off Schultz will hold a private meeting

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Speaker 1: with the President at the White House today. Both men

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Speaker 1: have become increasingly vocal about their concerns that China may

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Speaker 1: begin supplying weapons to Russia for its invasion of Ukraine.

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Speaker 1: China is Germany's top trading partner, but there are signs

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Speaker 1: all Off and other European leaders may be willing to

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Speaker 1: take a harder line on China. Yesterday, the Chancellor called

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Speaker 1: for the withdrawal of Russian troops and not to supply

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Speaker 1: weapons to Russia. In Washington, I'm Scott Carr, Bloomberg Daybreak. Okay, Scott,

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Speaker 1: thank you. Now. After those meetings at the White House,

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Speaker 1: President Biden says he'll be headed to East Palestine, Ohio.

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Speaker 1: The President's been undergrowing pressure to go to the site

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Speaker 1: of that trained derailment that happened one month ago today,

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Speaker 1: but he says he has been engaged with the community.

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Speaker 1: I've spoken with every official and hile Democratic Republican on

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Speaker 1: a continuous basis. As in Pennsylvania. I laid out a

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Speaker 1: little bit in there what I think the answers are

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Speaker 1: putting together, and we will be implementing lawful lot to

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Speaker 1: the magislation here and I will be on The President

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Speaker 1: was on Capitol Hill meeting with Senate Democrats. He says

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Speaker 1: he will be in Ohio, but he's not saying when

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Speaker 1: he'll go. Well. Another trip high above the Earth is

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Speaker 1: complete for SpaceX CREWE Dragon Endeavor Steve Woody Sultan Andre

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Speaker 1: after a brief detour Welcome to the International Space Station.

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Speaker 1: Two Americans, one Russian, and the first astronaut from United

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Speaker 1: Arab Emirates are all safely on board, but it took

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Speaker 1: an extra hour that scenic detour was a problem with

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Speaker 1: one of the Dragon capsule's dogging hook. The crew six

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Speaker 1: astronauts had to wait about sixty five feet from the

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Speaker 1: space station while SpaceX flight controllers came up with a fix. Finally, Karen,

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Speaker 1: if you drive a Ford, don't miss that auto payment

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Speaker 1: with loan delinquencies up. The automaker has filed for a

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Speaker 1: patent on technology that could remotely shut off your car, radio,

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Speaker 1: air conditioning, or other features, lock you out of your vehicle,

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Speaker 1: send NonStop beeps while you're driving, or even disable the

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Speaker 1: engine if you miss a payment on a Ford vehicle.

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Speaker 1: It's thirty seven degrees in New York. We're going to

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Speaker 1: temperatures going to slowly rise through the overnight hours. Time

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Speaker 1: now to take a look at some of the other

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Speaker 1: stories making news in New York and around the world

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Speaker 1: with Bloomberg's John Tucker. Good morning, John, Good morning to you.

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Speaker 1: Nathan Disgrace. South Carolina attorney Alex Murdock has been convicted

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Speaker 1: of the murder charges against him. Let's get more in

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Speaker 1: this report this morning from Bloomberg's and Baxter. The shooting

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Speaker 1: deaths of his y and son, a story of the

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Speaker 1: unraveling of a powerful Southern family with testimony of privilege, greed,

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Speaker 1: and addiction. Judge Clifton Newman the jury is now considered

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Speaker 1: the evidence for a significant period of time and the

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Speaker 1: evidence of guilt is overwhelming. Murdoch now faces thirty years

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Speaker 1: to life for each charge. Court reconvenes this morning for

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Speaker 1: sentencing in San Francisco. I'm at Baxter Bloomberg daybreak. A

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Speaker 1: New Jersey state trooper is shot in the leg in

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Speaker 1: Patterson yesterday morning. Is expected to recover. The trooper was

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Speaker 1: on patrol near the Patterson home of Congersome Bill Pascurell Junior.

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Speaker 1: The state police wouldn't release any other information. The House

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Speaker 1: the Ethics Committee sansy it's opened a probe into a

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Speaker 1: series of alleged unlawful acts by a freshman New York

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Speaker 1: Republican representative, George Santos. The panel would look into a

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Speaker 1: range of allegations, including brother Santos engaged in sensual misconduct

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Speaker 1: involving an individual seeking employment in his congressional office, and

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Speaker 1: a congressional watchdog says that Progressive Democrat Alexandria Occasio Cortez

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Speaker 1: might have broken House rules when she attended the twenty

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Speaker 1: twenty one met gala in New York in a rented

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Speaker 1: designer gown. A report by the Office of Congressional Ethics

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Speaker 1: prompted the House Ethics Committee to decide it to continue

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Speaker 1: to investigate whether she violated rules and accepted impermissible gifts.

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Speaker 1: The white straplest dress had taxed the rich in big

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Speaker 1: bright red letters running down the back of it, and

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Speaker 1: Columbia University has just become the first Ivy League school

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Speaker 1: to permanently drop the SAT and the ACT. Columbia Admissions

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Speaker 1: first dropped the requirements for SAT and ACT during COVID style,

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Speaker 1: making the change permanent. It calls its review of student

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Speaker 1: applications still purposeful and nuance, and says it respects various

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Speaker 1: backgrounds and voices. Global News twenty four hours a day,

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Speaker 1: power by more than twenty seven hood of journalist at

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Speaker 1: analysts in over one hundred twenty countries. I'm John Tucker.

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Speaker 1: This is Bloomberg, Nathan. Thank you John. Time for a

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Speaker 1: Bloomberg Sports update, brought to you by Trice stayed Out.

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Speaker 1: He Good morning, John Stashow, Gordy Nathan Patrick Kane's day

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Speaker 1: began with his introductory press conference with the Guarden. He

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Speaker 1: talked about coming to New York after sixteen years in Chicago.

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Speaker 1: It could be a good experience and get out of

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Speaker 1: comfort zone a little bit and be able to, you know,

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Speaker 1: play for a different franchise, different team, and you know,

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Speaker 1: like I said, obviously I have a great, great team here,

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Speaker 1: So they're coming into a good situation. And then came

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Speaker 1: Kane's Rangers debut. The store outside the Garden sold out

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Speaker 1: of his number eighty eight Jerseys. Kane and the Rangers

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Speaker 1: took a lead at the third period, but Ottawa scored

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Speaker 1: three times and won five to three, and the Rangers

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Speaker 1: are now lost five over the last seven. If they

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Speaker 1: were in the Western Conference, they'd be tied for first.

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Speaker 1: In the East, they're tied for fifth. Rangers played tomorrow

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Speaker 1: in Boston and the Bruins have fifteen more points than

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Speaker 1: any other their team. They just said an NHL record

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Speaker 1: for the fastest ever to one hundred points to Ruins

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Speaker 1: won seven to one. It was their ninth win in

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Speaker 1: a row. The Nets are in Boston tonight. The x

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Speaker 1: net Kyrie irving last night forty two points and Dallas's

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Speaker 1: went over. Philadelphia's teammate lukea Donsitch scored forty only the

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Speaker 1: fifth time in the last thirty years that in a

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Speaker 1: regulation game teammates both scored forty or more. Next spring

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Speaker 1: their seven game winning streak Tonight to Miami, and then

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Speaker 1: they play in Boston on Sunday. So it's a weekend

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Speaker 1: of New York at Boston, the Nets, then the Rangers,

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Speaker 1: then the Knicks, and consecutive days college basketball and Chowin Davis,

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Speaker 1: who played for Detroit Mercy, missed a three point shot

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Speaker 1: at the end of his team's season ending loss. It

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Speaker 1: ended his career. Had the shot gone in, Davis would

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Speaker 1: have tied Pete Maravich's record for most career points in

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Speaker 1: NCAA history. John Stashaward Bloomberg Sports Live from coast to coast,

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Speaker 1: from New York to San Francisco, Boston to Washington, DC,

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Speaker 1: nationwide on sirius x, The Bloomberg Business Appened Bloomberg dot Com.

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Speaker 1: This is Bloomberg Daybreak. Good morning. I'm Nathan Hager. When

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Speaker 1: it comes to relations between the US and China, tensions

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Speaker 1: seems to be the baseline at this point. The latest

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Speaker 1: case in point, dozens of companies in the Chinese tech

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Speaker 1: sector have been added to the US export restriction list.

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Speaker 1: Those tensions with Beijing couldcolor discussions on Ukraine today, when

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Speaker 1: President Biden hosts German Chancellor Alof Schultz at the White House.

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Speaker 1: From all on all this, we're joined this morning by

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Speaker 1: Terry Haynes, the founder of Pangea Policy. Terry, good morning.

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Speaker 1: Are we close to a brink when it comes to

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Speaker 1: US China relations? Good morning, Nathan. The right question to ask.

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Speaker 1: I think the answer is no. I think we've been

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Speaker 1: in a cold piece for about the last four or

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Speaker 1: five years, and it is now becoming painfully clear, not

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Speaker 1: just to US markets but to the average citizens that

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Speaker 1: that's where we are, and you know, unfortunately that's where

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Speaker 1: we're going to be for a while. What does it

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Speaker 1: mean for the market. We have these latest moves like

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Speaker 1: these dozens of companies coming under similar restrictions like Huawei

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Speaker 1: did a couple of years back, and of course the

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Speaker 1: ongoing effort to get more of the world to crack

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Speaker 1: down on China's access to chips. I think markets make

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Speaker 1: a big mistake. Markets always assume that what they care

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Speaker 1: about the most will be also what political leaderships care

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Speaker 1: about the most. I think that's not true, and we're

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Speaker 1: a position now. I think we're going to get some

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Speaker 1: more clarity in the next days from China thanks to

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Speaker 1: the Party Congress just starting about what their intentions are.

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Speaker 1: But you've got a situation here where, in addition to

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Speaker 1: the broader kind of geopolitical moves and the sanctions and

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Speaker 1: the like, you've also got two recent actions that ought

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Speaker 1: to give markets pause. One of which is, you know,

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Speaker 1: then this comes after the China balloon and everything. But

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Speaker 1: one is that you've got essentially China kicking out Western

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Speaker 1: accounting firms. And the second is whether or not in

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Speaker 1: what extent the Chinese leadership is seeking political control over

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Speaker 1: the central Bank. The net net of that is not

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Speaker 1: so much a China versus Western problem with accounting and

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Speaker 1: the like. It's that there is an attempt here to

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Speaker 1: come up with a very different alternative than kind of

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Speaker 1: the standard Western system. That will affect all of that

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Speaker 1: will affect the how investors look at China in the future.

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Speaker 1: So you know, we could be on the cusp of

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Speaker 1: a real serious of change in the way in which

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Speaker 1: China is doing business in the markets itself. While we're

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Speaker 1: waiting for that National People's Congress to begin this weekend,

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Speaker 1: we've been hearing a lot of rhetoric from the Biden

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Speaker 1: administration warning China and not to get more involved in

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Speaker 1: the war and Ukraine. This idea that China could provide

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Speaker 1: lethal aid to Russia. Is that a real concern for markets. Absolutely,

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Speaker 1: it's a real concern for markets, and that is the

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Speaker 1: underpinning of what the what President Biden and Chancellor Schultz

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Speaker 1: of Germany will be talking about the White House today.

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Speaker 1: And to me, the most interesting part of that meeting

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Speaker 1: which will happen today is that it's private. Uh. These

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Speaker 1: things are usually opportunities to gladhand and wave and have

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Speaker 1: a series of public interactions. The fact that these are

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Speaker 1: these meetings are private, although I expect we'll see them

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Speaker 1: together in public at least a little bit, indicates that

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Speaker 1: a couple of things, that you've got strategic unity and

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Speaker 1: that there's a serious focus on wanting to come together

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Speaker 1: on the tactics, on the the things on ammunition and

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Speaker 1: you know, the things that actually matter, so strengthening the

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Speaker 1: Western Alliance overall. So yeah, it's a big deal for

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Speaker 1: markets because it shows in a public way that continued

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Speaker 1: ramping up of US China tensions and frankly the UH,

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Speaker 1: the solidifying of the Western Alliance. Now, last minute here,

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Speaker 1: given that those discussions are going to be happening in private,

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Speaker 1: are you expecting that they're really going to get into

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Speaker 1: some nitty gritty here, some real strategizing in terms of

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Speaker 1: what happens with the Allied support for Ukraine in the

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Speaker 1: second year of the war. I think yes, I think

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Speaker 1: that there has been a unity always on the broad goals,

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Speaker 1: but now we're down to the nitty gritty on exactly

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Speaker 1: on exactly how the Western Allies are going to achieve that,

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Speaker 1: And you know, so I think that's uh, you know,

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Speaker 1: I think that's a big deal. Frankly, this is Bloomberg

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