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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug prisoner. President Trump says the US will start a

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Speaker 1: land operation in Venezuela, similar to the strikes on boats

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Speaker 1: allegedly carrying drugs.

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Speaker 2: Now.

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Speaker 1: Last week, the US intercepted two oil tankers, and the

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Speaker 1: US is pursuing a third. Tonight, Trump was asked what

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Speaker 1: the US would do with that oil? Where's the good?

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Speaker 3: We're going to sell it one of the strategic may

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Speaker 3: We'll sell it, keep it.

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Speaker 4: Maybe we'll use it in the strategic reserves. We're keeping it.

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Speaker 5: We're keeping the ships.

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Speaker 1: Also, President Trump speaking there. Meantime, the US Navy will

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Speaker 1: be building two new types of warships as part of

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Speaker 1: the White House push to modernize the Navy's surface fleet

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Speaker 1: and restore domestic shipbuilding. The Navy is pursuing a new

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Speaker 1: frigate based on the Legend class cutter, as well as

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Speaker 1: a Trump class warship.

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Speaker 2: Now.

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Speaker 1: These new ships are part of the President's Golden Fleet

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Speaker 1: bid to revive US shipbuilding. Here is Navy Secretary John

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Speaker 1: Phalen pulls into a foreign report.

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Speaker 3: There will be a source of pride for every American

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Speaker 3: when it brings home our brave sailors who will sail

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Speaker 3: defiant raise their fists as say we are piece through strength.

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Speaker 1: Maybe. Secretary John Phalen Elon Musk demanded electric doors in

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Speaker 1: Tesla vehicles despite concern over their safety. We are told

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Speaker 1: Musk's directive was clear, virtually everything in the new vehicle,

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Speaker 1: including the doors, should be controlled electronically through the push

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Speaker 1: of a button or the tap of a touch screen. However,

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Speaker 1: we are told some Tesla engineers argued for mechanical handles,

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Speaker 1: and they raised concern about the potential safety hazards of

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Speaker 1: electric systems. Larry Ellison is throwing his personal fortune behind

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Speaker 1: the bid from his son's company for Warner Brothers Discovery.

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Speaker 1: The senior Ellison is providing a personal guarantee of forty

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Speaker 1: billion dollars in equity for financing from Paramount's guidance. Here

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Speaker 1: is Stephen Flynn from Bloomberg Intelligence.

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Speaker 5: Mid last week, the Warner Brothers Discovery board recommended shareholders

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Speaker 5: do not participate in the tenor offer, and they listed

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Speaker 5: the reasons why. Now, what Paramount this Morning has done

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Speaker 5: is kind of address many of those reasons, particularly given

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Speaker 5: the Larry Ellison guarantee. So I believe Paramount is going

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Speaker 5: to see how many shares they get to participate in

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Speaker 5: the tenor offer and if they need to, you know,

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Speaker 5: conversations with shareholders, if they need to raise it to

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Speaker 5: a certain level. At their struggle, it's still comfortable with

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Speaker 5: I'd imagine that's what they would do.

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Speaker 1: That is analyst Stephen Flynn from Bloomberg Intelligence. At the

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Speaker 1: same time today, Netflix said it refinanced part of a

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Speaker 1: fifty nine billion dollar bridge loan with cheaper and longer

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Speaker 1: term debt. Sachs Global Enterprises may be filing for bankruptcy.

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Speaker 1: We're told the company is considering Chapter eleven as a

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Speaker 1: last resort. More from Bloomberg's Charlie.

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Speaker 2: Pellett, sax is facing limited options ahead of a more

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Speaker 2: than one hundred million dollar debt payment DOE at the

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Speaker 2: end of this month. Those sources say the retailer is

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Speaker 2: also weighing additional ways to shore up liquidity, including raising

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Speaker 2: emergency financing or selling assets. Sachs did raise billions of

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Speaker 2: dollars from bond investors late last year to finance a

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Speaker 2: bold turnaround plan centered on the acquisition of Nieman Marcus,

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Speaker 2: betting that scale would revive the struggling luxury retailer. Instead,

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Speaker 2: the deal deepened the company's debt burden. In New York,

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Speaker 2: Charlie Pellot Bloomberg.

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Speaker 1: Radio, BET Governor Stephen Myron said the US Central Bank

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Speaker 1: risk sparking a recession unless it continues lowering interest rates

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Speaker 1: next year. Here is Myron speaking earlier to Bloomberg Television.

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Speaker 4: So I don't see a recession in the near term,

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Speaker 4: in part because we are adjusting our policy rate, belowering it,

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Speaker 4: which is appropriate.

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Speaker 3: You know.

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Speaker 4: My view, as as I've described, is that a variety

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Speaker 4: of shocks that hit the economy, you know, including changes

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Speaker 4: to the population growth rate due to the changes in

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Speaker 4: the border policy, have pushed what we call the neutral

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Speaker 4: rate down, and that policy needs to adjust downward to

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Speaker 4: reflect that downward shift in neutral. If we don't adjust

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Speaker 4: policy down then I think that we do run risks

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Speaker 4: of right of rising recessions.

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Speaker 1: That is FED Governor Stephen Myron, who has argued for

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Speaker 1: larger rate cuts since he joined the fed's Board of

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Speaker 1: Governors in September. Incidentally, his term expires in January. And

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Speaker 1: you can hear more from Steven Myron on the Bloomberg

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Speaker 1: Talks podcast tomorrow. We'll get an initial reading on third

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Speaker 1: quarter economic growth, and Bloomberg Economics is estimating the American

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Speaker 1: economy likely grew at more than three percent, supported by

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Speaker 1: robust consumer spending and modest investment gains. Today, the CEO

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Speaker 1: of Bank of America, Brian moynihan said the economy is

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Speaker 1: in good shape. Here is moynihan speaking to Bloomberg Television.

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Speaker 3: In the third quarter, it was up about five percent

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Speaker 3: of last year. As we look at the fourth quarter

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Speaker 3: here so far in October November, I sat in a

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Speaker 3: four to four and a half percent, which is very

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Speaker 3: consistent with a very solid growing economy. You know, at

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Speaker 3: the end of day, it's going to work against wage growth,

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Speaker 3: and we see in the underline consumers we have wage

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Speaker 3: growth either paychecks are going up and so well. The

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Speaker 3: labor markets flattened out a little bit in terms of

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Speaker 3: job growth and things like that. It's normalizing in terms

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Speaker 3: of unemployment, but you still see underlying wage growth.

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Speaker 1: That is Brian Moyinhan, CEO of Bank of America, speaking

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Speaker 1: earlier to Bloomberg. And that is news when you want it.

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Speaker 1: With Bloomberg News. Now, I'm Derek Krisner, and this is

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Speaker 1: Bloomberg