Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning.
Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 3: stories we're following today.
Speaker 2: Karen, we begin with a big blow this morning to
Speaker 2: President Donald Trump's tariff policies. Bloomberg's John Tucker joins us
Speaker 2: with the latest. Good morning, John, Good morning, Nathan.
Speaker 4: Republican led House has passed a resolution to rescind President
Speaker 4: Trump's tariffs on Canada. Six Republicans joined nearly all Democrats
Speaker 4: in passing the measure.
Speaker 5: On this vote, the Yas are two nineteen and the
Speaker 5: Naser two eleven. Their joint resolution is passed without objection.
Speaker 5: The motion to reconsider is laid on the table even
Speaker 5: if it does pass the Senate. Now, President Trump would
Speaker 5: veto it, so this is all about sending a message.
Speaker 5: The House vote signals a growing rift within the Republican
Speaker 5: Party with the midterm elections approaching. The GOP and those
Speaker 5: members who voted for it have to face their constituents
Speaker 5: who are increasingly worried about affordability. That Wednesday's vote happened
Speaker 5: at all actually represents a blow to House Speaker Mike Johnson,
Speaker 5: a top Trump ally who had spearheaded a block on
Speaker 5: bringing tarn related bills to the floor for months, and
Speaker 5: the passage also comes as the president is privately waing
Speaker 5: quitting the US Mexico Canada trade pack that he signed
Speaker 5: during his first term. Following the vote, Trump wrote on
Speaker 5: social media, any Republican in the House or the Senate
Speaker 5: that votes against tariffs will seriously suffer the consequences come
Speaker 5: election time. That includes primaries in New York. On John
Speaker 5: Tucker Bloomberg Radio, all.
Speaker 3: Right, John, thank you well. House Republicans have also approved
Speaker 3: legislation that would impose strict new voter ID requirements ahead
Speaker 3: of the midterm elections. The bill is a Trump administration
Speaker 3: priority aimed at scrutinizing ballot access, but it faces blowback
Speaker 3: in the Senate. The legislation requires Americans to present proof
Speaker 3: of citizenship when they register to vot vote and to
Speaker 3: show a valid photo identification before they cast ballots. Republicans
Speaker 3: say it's needed to prevent voter fraud. Democrats sworn it'll
Speaker 3: make it harder for millions of Americans to vote.
Speaker 6: Yah Elsewhere.
Speaker 2: On Capitol Hill, Karen Attorney General Pam Bondi had a
Speaker 2: contentious hearing before the House Judiciary Committee on the Jeffrey
Speaker 2: Epstein case and her agency's investigations into President Trump's political opponents.
Speaker 2: The committee's top Democrat, Jamie Raskin, accused Bondi of turning
Speaker 2: the Justice Department into an instrument of revenge.
Speaker 7: You replace real prosecutors with counterfeit stooges who robotically.
Speaker 3: Do the president's bidding.
Speaker 6: Nothing in American history comes close.
Speaker 2: And Democrat Jamie Raskin accused the Justice Department of redacting
Speaker 2: the names of abusers and co conspirators in the Epstein files,
Speaker 2: not just as victims. Bondi apologized for what Epstein's victims experienced,
Speaker 2: but Democrat Primila Jayapaul asked if she would turn to
Speaker 2: face the victims who were in the audience to deliver
Speaker 2: that apology.
Speaker 8: Mister Chairman, why I have asked see austinar at Garland.
Speaker 3: This I'm reclaiming.
Speaker 8: I will claim my time.
Speaker 6: Reclaimed.
Speaker 2: Get in the gutter for her theatrics. Attorney General Pam
Speaker 2: Bondi flipped through a binder throughout the hearing to deliver
Speaker 2: attacks at individual lawmakers. She says the Justice Department has
Speaker 2: pending investigations related to Jeffrey Epstein, but she did not elaborate.
Speaker 3: Nathan. Federal agents are looking along roadways in the Catalina Foothills.
Speaker 3: This is the search for the eighty four year old
Speaker 3: mother of Today's show host Savannah Guthrie continues. They're looking
Speaker 3: near Tucson as part of the investigation into the disappearance
Speaker 3: of Nancy Guthrie. The Pima County Sheriff's Department and the FBI,
Speaker 3: so that they are following up on eighteen thousand tips
Speaker 3: and here's retired FBI agent Richard Frankel.
Speaker 5: Eighteen thousand and what a week and a half.
Speaker 3: That number is staggering. After nine to eleven, we had,
Speaker 3: I believe eighteen to twenty thousand in two years and
Speaker 3: retired FBI agent Richard Frankel. The FBI has also released
Speaker 3: images of a masked person on Nancy Guthrie's porch the
Speaker 3: night she went missing their Tucson. Guthrie was reported missing
Speaker 3: on February first.
Speaker 2: Trained to Geopolitics Now Caring, the death toll from the
Speaker 2: crackdown over Iron's nationwide protests last month has reportedly reached
Speaker 2: more than seven thousand. The US based human rights activist
Speaker 2: news agency, which offered the latest figures has been accurate
Speaker 2: in counting deaths during previous rounds of unrest in Iran.
Speaker 2: It relies on a network of activists to verify those deaths.
Speaker 2: The rise in the death toll comes as Iran tries
Speaker 2: to negotiate with the US over its nuclear program.
Speaker 3: Nathan, President Trump's energy chief, has arrived in Venezuela to
Speaker 3: be with the nation's new leader and assess its energy infrastructure.
Speaker 3: Energy Secretary Chris Wright met with Acting President Delci Rodriguez
Speaker 3: and Caracas as the US pushes to revive Venezuela's oil sector.
Speaker 3: Bloomberg's and Marie hor Dern is traveling with the Energy
Speaker 3: Secretary and has more. Secretary Chris Wright.
Speaker 9: Of the Energy Department met with Acting President Delci Rodriguez.
Speaker 9: The two discussed business ventures and how how't you collaborate
Speaker 9: further when it comes to energy, mining and electricity in
Speaker 9: the country. Secretary Wright said he came here the message
Speaker 9: from President Trump was that he wants to make the
Speaker 9: Americas great again and he wants to transform this relationship.
Speaker 9: He continuously talks about you can transform a relationship with
Speaker 9: commerce instead of boots on the ground. I'm Amina Herdern
Speaker 9: in Caracas, Venezuela, and this is Bloomberg.
Speaker 2: All right, Emory, thank you. We turned to the markets now.
Speaker 2: Futures are higher this morning after yesterday's declines, with shares
Speaker 2: of Cisco are sinking. They're down nearly eight percent. In
Speaker 2: early training, the largest maker of networking equipment, gave a
Speaker 2: weaker than expected forecast, spurring concerns that mounting memory hip
Speaker 2: prices are taking a toll. The outlook overshadowed and upbeat
Speaker 2: sales forecast fueled by growing artificial intelligence revenue.
Speaker 3: Nathan sales and the US for McDonald's grow at the
Speaker 3: fastest pace in more than two years. They jumped six
Speaker 3: point eight percent. The company's focus on affordability helped to
Speaker 3: improve in the fourth quarter. Abby Roach is a senior
Speaker 3: portfolio analyst at all Spring Global Investments.
Speaker 8: I'd say they're doing a couple things. While they're leading
Speaker 8: into the value for consumers who are seeking that out
Speaker 8: and who are really feeling stretched. They've got different offerings
Speaker 8: across different price points, across five dollars eight dollars, being
Speaker 8: able to add things on for a dollar, so they're
Speaker 8: really focused there. But also they're not letting their foot
Speaker 8: off the gas in terms of the marketing and the innovation.
Speaker 3: Abby roach at all Spring Global Investments and Shures. The
Speaker 3: McDonald's are down a third of up percent this morning.
Speaker 2: Karen Ai Company Andthropics nearing completion of a deal to
Speaker 2: raise more than twenty billion dollars. Bloomberg News has learned.
Speaker 2: The funding round is co led by investors including Peter
Speaker 2: Thial's founder's fund, d E. Shaw and Dragoneer Investment Group,
Speaker 2: and Thropics set to be valued at about three hundred
Speaker 2: and fifty billion dollars. The deal could be announced as
Speaker 2: early as this week.
Speaker 3: Nathan Applied Materials will pay more than a quarter of
Speaker 3: a billion dollars to settle a Commerce Department investigation into
Speaker 3: improper exports to China. Settlement ending a year's long saga
Speaker 3: for the largest American supplier of chip making machinery.
Speaker 2: Now we got some moretal news this morning. Karen Neuveen
Speaker 2: is buying Schroders for thirteen and a half billion dollars.
Speaker 2: The acquisition creates one of the world's largest active asset managers,
Speaker 2: with nearly two and a half trillion dollars in assets.
Speaker 2: This ends more than two centuries of independence for the
Speaker 2: UK's largest standalone asset manager, although the Schroders brand will
Speaker 2: be retained.
Speaker 3: Time now for look at some of the other stories
Speaker 3: making news in New York and around the world, and
Speaker 3: for that we're joined by Bloomberg's Michael Barr.
Speaker 6: Michael, good Morning, Good morning, Karen. Canadian authorities say the
Speaker 6: suspect in the school shooting in British Columbia was an
Speaker 6: eighteen year old who had a history of police visits
Speaker 6: to her home to check on her mental health. Police
Speaker 6: said the suspect, Jesse Van Rootseller, first killed her mother
Speaker 6: and stepbrother at the family home before attacking the nearby school,
Speaker 6: resulting in eight fatalities. Dwayne McDonald is with the British
Speaker 6: Columbia Royal Canadian Mounted Police. I can say that the.
Speaker 10: Suspect was not related to any of the victims of
Speaker 10: the school. I don't have any broader information beyond that
Speaker 10: of it and say that the suspect was related to
Speaker 10: the two victims at the private residents.
Speaker 6: Dwayne McDonald with the Royal Canadian Mounted Police said Van
Speaker 6: Rootseller was found dead from an apparent self inflicted wound
Speaker 6: following the assault on the school in the small community
Speaker 6: of tumblr Ridge, striking nurses at two of the three
Speaker 6: New York City hospitals ratified their new contracts, ending a
Speaker 6: five week strike. Rank and filed union members at Matafior
Speaker 6: and Mount syin I voted overwhelmingly to approve the new
Speaker 6: three year contracts. However, the strike will continue for over
Speaker 6: four thousand nurses at New York Presbyterian. Some nurses there
Speaker 6: say they were being pressured by the union to approve
Speaker 6: a contract that the local negotiating team rejected. In a
Speaker 6: statement from New York Presbyterian, the proposal includes, among other things,
Speaker 6: the same four percent yearly wage increases for all three hospitals.
Speaker 6: The San Francisco teachers strike enters its fourth day. Teachers
Speaker 6: are demanding better pay and benefits. Public school teacher Leslie
Speaker 6: Hughes says they're also fighting for their students and their families.
Speaker 8: I hope that we can get this done as soon
Speaker 8: as possible, and educators here as standing with our families
Speaker 8: and students, are prepared to go as long as it
Speaker 8: takes until we have a signed agreement.
Speaker 6: The strike closed public schools for more than fifty thousand
Speaker 6: students in the city. Global News twenty four hours a
Speaker 6: day and whenever you want it with Bloomberg News Now.
Speaker 6: I'm Michael Barr, and this is Bloomberg Karen.
Speaker 3: Thanks Michael. Time now for our Bloomberg Sports updating. For that,
Speaker 3: we bring in John Stashauer.
Speaker 7: Thanks Karin. Second straight day at the Olympics where the
Speaker 7: United States won five medals, of this time two gold
Speaker 7: Liz Lanley only twenty years old. She had never been
Speaker 7: in an Olympic event before. She one golden freestyle skiing
Speaker 7: and twenty one year old Jordan Stoles one in speed skating.
Speaker 7: He may end up winning four gold medals. The NBA,
Speaker 7: after that fight between the Pistons and Hornets, suspended four players,
Speaker 7: including Detroit's Isaiah Stewart, who got seven games he had
Speaker 7: left the bench. That's your Bloomberg Sports update.
Speaker 3: Stay with us. More from Bloomberg day Break coming up
Speaker 3: after this.
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 6: Good morning.
Speaker 2: I'm Nathan Hager. President Trump's signature economic policy has just
Speaker 2: taken a blow on Capitol Hill. The House has voted
Speaker 2: to repeal the president's tariffs on goods from Canada. Democrats
Speaker 2: are promising more votes to come. Six Republicans joined with
Speaker 2: Democrats on this vote, including California's Kevin Kylie.
Speaker 11: We should have these debates, Let's have the discussion.
Speaker 9: Let's do so in front of the America and people.
Speaker 11: That's what you know representative government is all about.
Speaker 2: I was California Republican Kevin Kylie joining us now as
Speaker 2: Bloomberg's Laura Davison and Laura, we know that Congressman Kylie's
Speaker 2: facing a pretty tough reelection fight in California. Politics definitely
Speaker 2: plays a role in this vote last night. Good morning,
Speaker 2: good morning.
Speaker 11: Yes, this vote wasn't so much about actually being able
Speaker 11: to rescind these tariffs, but more giving some of these
Speaker 11: members an opportunity to come out and come out against
Speaker 11: these tariffs. You saw that the six Republicans who joined
Speaker 11: with Democrats are folks who either you know, have have
Speaker 11: clashed with the president of the past Thomas Massey for example,
Speaker 11: or represent some of these these moderate swing districts where
Speaker 11: they could be vulnerable. You know, we're starting to see,
Speaker 11: you know, Republicans really come out against some of the tariffs.
Speaker 11: There was a lot of vote no hope yes yesterday
Speaker 11: among House Republicans in terms of you know, wanting to
Speaker 11: see this uh, you know, not wanting to stand out
Speaker 11: and specifically rebuke the president, but they're recognizing that there's
Speaker 11: a messaging issue with voters that you know, voters are
Speaker 11: not happy with the economy. They think prices are too high,
Speaker 11: and they recognize that that tariffs are contributing to a
Speaker 11: piece of that.
Speaker 2: Getting to those affordability concerns that the President in the
Speaker 2: past has called something that's fake. How could this play
Speaker 2: out heading into the midterms.
Speaker 11: Laura, Yeah, this is the fight that we're likely to
Speaker 11: see really grow. You know, this vote, you know this
Speaker 11: week was just about the Canada tariffs. Democrats or even
Speaker 11: some Republicans could continue to bring up different resolutions to
Speaker 11: strike down different portions of these tariffs. So it could
Speaker 11: be the Brazil terariffs, for example, or are the tariffs
Speaker 11: on Mexico. So this is a way to kind of
Speaker 11: keep this issue alive, even though it doesn't have any
Speaker 11: strong policy implications, but keeps the political messaging of this ahead.
Speaker 2: And of course this comes at a time where Bloomberg
Speaker 2: News has learned that President Trump is privately talking about
Speaker 2: walking away from the US Mexico Canada Agreement, not that
Speaker 2: he's made a decision, but at least floating the idea.
Speaker 2: I mean, what could that mean in terms of ongoing
Speaker 2: trade pressure?
Speaker 11: This would really be a huge trade shift. You know,
Speaker 11: about eighty percent of goods that flow between the US, Mexico,
Speaker 11: and Canada are covered by this trade pact, which would mean,
Speaker 11: you know, if the US were to exit that all
Speaker 11: of those rules of the road would go away. So
Speaker 11: if you know, you know, the if people think that
Speaker 11: the tariffs right now on US of the the US
Speaker 11: is opposed on Canada and Mexico are big, this would
Speaker 11: really be a complete sea change. So this is something
Speaker 11: that you know Trump, you know, as he goes into
Speaker 11: these tariff negotiations, he likes to take these maximalist positions.
Speaker 11: So that's how some are interpreting this move of that
Speaker 11: Trump is sort of taking, you know, or at least
Speaker 11: considering taking a a you know, sort of an extreme
Speaker 11: position that then he could you know, kind of moderate
Speaker 11: as the discussions go on.
Speaker 2: In our last minute, Laura, let's talk about the hearing
Speaker 2: of the House Judiciary Committee for Attorney General Pam Bondi
Speaker 2: or first appearance since October. Apart from the shouting, did
Speaker 2: anything of substance come out of it? As far as
Speaker 2: you saw.
Speaker 11: The big headline here is that she did mention that
Speaker 11: there are that the Justice Department is investigating various things
Speaker 11: related to Epstein, but she did not elaborate. You know,
Speaker 11: the Justice Department has said previously that they were looking
Speaker 11: into Democrats, including Larry Summers, Bill Clinton, and other Democratic
Speaker 11: donors as in terms of what they knew about Epstein,
Speaker 11: but it was clear that she said there are still
Speaker 11: these investigations going on, but did not give any details
Speaker 11: as to what that might be or what we could
Speaker 11: expect to see in the future.
Speaker 3: This is Bloomberg Daybreak, your morning podcast on the stories
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