1
00:00:01,320 --> 00:00:04,519
Speaker 1: News when you wanted with Bloomberg News. Now I'm Doug Prisner.

2
00:00:04,640 --> 00:00:07,560
Speaker 1: The House has passed a budget resolution in support of

3
00:00:07,600 --> 00:00:11,160
Speaker 1: the framework for President Trump's agenda. This vote was two

4
00:00:11,200 --> 00:00:16,200
Speaker 1: seventeen to two fifteen, with all Democrats opposed. Representative Thomas

5
00:00:16,239 --> 00:00:20,120
Speaker 1: Massey of Kentucky was the only Republican to vote no. Now,

6
00:00:20,120 --> 00:00:25,040
Speaker 1: the GOP narrowly overcame internal disagreements. Moderates feared deep cuts

7
00:00:25,040 --> 00:00:28,880
Speaker 1: to Medicaid and some conservatives wanted to slash even more spending,

8
00:00:29,080 --> 00:00:32,199
Speaker 1: but has passed. The budget resolution would extend twenty seventeen

9
00:00:32,320 --> 00:00:36,000
Speaker 1: tax cuts and boost defense spending in exchange for two

10
00:00:36,040 --> 00:00:39,600
Speaker 1: trillion dollars in federal spending cuts over ten years. We

11
00:00:39,720 --> 00:00:42,559
Speaker 1: got reaction from Bloomberg's John Harney in Washington.

12
00:00:43,000 --> 00:00:46,120
Speaker 2: This ulsertainly will not survive in its current form. It

13
00:00:46,200 --> 00:00:49,360
Speaker 2: still has to be The overall package still has to

14
00:00:49,400 --> 00:00:53,160
Speaker 2: be approved by the Senate, which is also in Republican hands,

15
00:00:53,159 --> 00:00:54,680
Speaker 2: but has different priorities.

16
00:00:54,720 --> 00:00:57,560
Speaker 1: Bloomberg's John Harney there now the Senate does plan to

17
00:00:57,600 --> 00:01:00,360
Speaker 1: make changes to the House blueprint, and that could raise

18
00:01:00,480 --> 00:01:04,880
Speaker 1: new objections among House Republicans. The White House says Healthcare

19
00:01:04,920 --> 00:01:08,880
Speaker 1: Technology Executive Amy Gleeson is the acting administrator of the

20
00:01:08,920 --> 00:01:12,640
Speaker 1: Department of Government Efficiency. A source tells Bloomberg that Elon

21
00:01:12,760 --> 00:01:16,320
Speaker 1: Musk does not hold the legal role as head of DOGE.

22
00:01:16,400 --> 00:01:19,840
Speaker 1: Even so, he has been serving as its public spokesperson,

23
00:01:20,240 --> 00:01:23,280
Speaker 1: and among his efforts, Musk has given federal workers a

24
00:01:23,319 --> 00:01:27,720
Speaker 1: second chance to reply to doje's email request. The message

25
00:01:27,760 --> 00:01:30,920
Speaker 1: is asking federal workers to outline their job duties in

26
00:01:31,080 --> 00:01:34,560
Speaker 1: five bullet points or face firing, but the Office of

27
00:01:34,600 --> 00:01:38,240
Speaker 1: Personnel Management says it's up to agency leaders, not Musk,

28
00:01:38,560 --> 00:01:41,520
Speaker 1: as to whether employees will be fired for ignoring it.

29
00:01:41,840 --> 00:01:44,520
Speaker 1: Here is White House Press Secretary Caroline Levitt.

30
00:01:45,360 --> 00:01:48,520
Speaker 3: I actually participated it in myself. It took me about

31
00:01:48,720 --> 00:01:50,440
Speaker 3: a minute and a half to think of five things

32
00:01:50,520 --> 00:01:52,200
Speaker 3: I did last week. I do five things in about

33
00:01:52,240 --> 00:01:54,720
Speaker 3: ten minutes. And all federal workers should be working at

34
00:01:54,720 --> 00:01:57,360
Speaker 3: the same pace that President Trump is working and moving.

35
00:01:57,560 --> 00:01:59,560
Speaker 3: We have a country to save, and we want this

36
00:01:59,600 --> 00:02:01,920
Speaker 3: federal government to be responsive to the needs of the

37
00:02:01,960 --> 00:02:06,200
Speaker 3: American people who reelected this president to have historic, massive reform.

38
00:02:06,360 --> 00:02:09,240
Speaker 1: That is White House Press Secretary Caroline Levitt. Now, the

39
00:02:09,240 --> 00:02:12,080
Speaker 1: White House did say fewer than half of all federal

40
00:02:12,120 --> 00:02:15,960
Speaker 1: workers replied to the doge request. Meantime, a group of

41
00:02:16,000 --> 00:02:19,519
Speaker 1: twenty one tech workers from the US Digital Service resigned

42
00:02:19,520 --> 00:02:23,840
Speaker 1: in protest of Elon Musk's action to dismantle federal agencies

43
00:02:23,919 --> 00:02:27,440
Speaker 1: and to dismiss workers. A federal judge has blocked President

44
00:02:27,440 --> 00:02:31,280
Speaker 1: Trump's effort to halt the nation's refugee admission system. More

45
00:02:31,320 --> 00:02:32,720
Speaker 1: from Bloomberg's Amy Morrison.

46
00:02:32,880 --> 00:02:36,880
Speaker 4: Washington, major refugee aid groups argued that Trump's executive order

47
00:02:36,919 --> 00:02:40,480
Speaker 4: suspending the federal Refugee Settlement program ran a foul of

48
00:02:40,520 --> 00:02:43,920
Speaker 4: the system that Congress had created for moving refugees into

49
00:02:43,960 --> 00:02:47,519
Speaker 4: the US. Lawyers for the administration argued that Trump's order

50
00:02:47,840 --> 00:02:50,920
Speaker 4: was well within his authority. Now, the judge ruled that

51
00:02:50,960 --> 00:02:54,160
Speaker 4: the president does have a lot of discretion to suspend

52
00:02:54,280 --> 00:02:58,120
Speaker 4: refugee admissions, but that authority, he says, is not limitless

53
00:02:58,400 --> 00:02:59,960
Speaker 4: in Washington, Amy Moore as Bloomberg.

54
00:03:00,520 --> 00:03:03,920
Speaker 1: Incidentally, the Trump administration is weighing whether to file an

55
00:03:03,960 --> 00:03:08,560
Speaker 1: emergency appeal. Reuters and Axios for both reporting that Ukrainian

56
00:03:08,600 --> 00:03:12,200
Speaker 1: President Volodimir Zolensky is planning to travel to Washington on

57
00:03:12,320 --> 00:03:15,239
Speaker 1: Friday for a meeting with President Trump. Now, this is

58
00:03:15,280 --> 00:03:17,680
Speaker 1: after the US and Kiev reached an agreement for a

59
00:03:17,720 --> 00:03:21,680
Speaker 1: deal on access to Ukraine's rare earth minerals. This came

60
00:03:21,720 --> 00:03:24,640
Speaker 1: together after the US dropped its demand for Ukraine to

61
00:03:24,680 --> 00:03:28,519
Speaker 1: commit to paying five hundred billion dollars from resource extraction

62
00:03:29,000 --> 00:03:32,880
Speaker 1: to a fund as a form of repayment for USAID Now. Instead,

63
00:03:33,200 --> 00:03:36,280
Speaker 1: the deal will create a joint US Ukraine fund to

64
00:03:36,360 --> 00:03:40,840
Speaker 1: manage future revenues from Ukraine's natural resources. We go to

65
00:03:40,920 --> 00:03:44,680
Speaker 1: Business News next. In Vidia will deliver its highly anticipated

66
00:03:44,720 --> 00:03:47,880
Speaker 1: fourth quarter earnings report after the bell on Wednesday. We

67
00:03:47,960 --> 00:03:50,920
Speaker 1: have a preview from Bloomberg's Charlie Pellett in video.

68
00:03:50,960 --> 00:03:54,240
Speaker 5: Who's been the biggest beneficiary of a surge in artificial

69
00:03:54,360 --> 00:03:57,280
Speaker 5: intelligence spending over the past two years. But there are

70
00:03:57,400 --> 00:04:02,560
Speaker 5: questions about whether data center operators will ease their AI expenditures.

71
00:04:02,880 --> 00:04:06,880
Speaker 5: Kim Forrest is chief investment officer at Bouquet Capital Partners.

72
00:04:07,040 --> 00:04:09,480
Speaker 5: So the question that we have is this is it

73
00:04:09,520 --> 00:04:09,960
Speaker 5: for real?

74
00:04:10,280 --> 00:04:11,800
Speaker 6: Are people still going to pay up?

75
00:04:11,920 --> 00:04:15,520
Speaker 5: Analysts surveyed by Bloomberg expect the AI chip maker to

76
00:04:15,640 --> 00:04:18,960
Speaker 5: report fourth quarter revenue of thirty eight point two five

77
00:04:19,120 --> 00:04:22,880
Speaker 5: billion dollars in New York. Charlie Pellett Bloomberg Radio.

78
00:04:23,120 --> 00:04:26,839
Speaker 1: Tesla's market cap fell today below one trillion dollars after

79
00:04:26,880 --> 00:04:29,960
Speaker 1: a sharp decline in its stock price in New York trading,

80
00:04:30,000 --> 00:04:32,719
Speaker 1: Tesla shares were down more than eight percent on word

81
00:04:32,760 --> 00:04:37,600
Speaker 1: of plunging sales in Europe. Earlier, the European Automobile Manufacturers

82
00:04:37,600 --> 00:04:42,760
Speaker 1: Association reported figure showing Tesla's sales last month tumbled forty

83
00:04:42,880 --> 00:04:46,839
Speaker 1: five percent. Now that drop comes as CEO Elon Musk

84
00:04:46,920 --> 00:04:51,960
Speaker 1: becomes an increasingly polarizing figure in global politics. Craig Trudell

85
00:04:52,120 --> 00:04:55,200
Speaker 1: covers the automotive industry for Bloomberg News in London.

86
00:04:55,400 --> 00:04:59,560
Speaker 6: In Germany, he just very emphatically supported the AfD Right,

87
00:04:59,600 --> 00:05:03,080
Speaker 6: the the far right party in Germany that we should say,

88
00:05:03,160 --> 00:05:06,320
Speaker 6: you know, place second in Sunday's election. But that is

89
00:05:06,680 --> 00:05:10,479
Speaker 6: a hugely, hugely controversial party even you know, among Germans,

90
00:05:10,520 --> 00:05:13,640
Speaker 6: and a lot of people sort of view that party

91
00:05:13,680 --> 00:05:19,080
Speaker 6: as sort of, if not Nazi outright, Nazi sympathetic or

92
00:05:19,080 --> 00:05:20,200
Speaker 6: sort of flirting with that.

93
00:05:20,200 --> 00:05:24,400
Speaker 1: That is Bloomberg's Craig Trudell. Separately, Tesla is changing over

94
00:05:24,480 --> 00:05:29,000
Speaker 1: production lines for the model YSUV, the most popular vehicle

95
00:05:29,080 --> 00:05:32,080
Speaker 1: for the company by far. Once again chares in Tesla

96
00:05:32,160 --> 00:05:35,440
Speaker 1: during New York trading were down eight percent. And that

97
00:05:35,560 --> 00:05:37,960
Speaker 1: is news when you wanted with Bloomberg News. Now I'm

98
00:05:37,960 --> 00:05:39,599
Speaker 1: Doug Krisner, and this is Bloomberg