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Speaker 1: Good morning.

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Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 2: stories we're following today.

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Speaker 3: Karen, we wrap a week of central bank decisions, with

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Speaker 3: the latest coming overnight from the Bank of Japan. The

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Speaker 3: BOJ held interest rates, its tenure yield target, and forward

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Speaker 3: guidance unchanged. BOJ Governor Kazua Awaita says the central bank

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Speaker 3: will consider a policy shift if the bank's inflation goal

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Speaker 3: comes into site.

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Speaker 4: We are not yet in a situation where we can

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Speaker 4: see sustained and stable inflation of two percent accompanied by

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Speaker 4: wage increases, so we will patiently continue with monetary easing

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Speaker 4: under the current framework. After that, if we are in

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Speaker 4: a position to achieve the goal, we will consider scrapping

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Speaker 4: YCC and modifying the negative interest rate.

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Speaker 3: BOJ Governor Kazua Awaita spoke through an interpreter at a

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Speaker 3: news conference in Tokyo. US futures rose after the decision.

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Speaker 3: While the EN weekend and checking the EN right now,

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Speaker 3: it is at one forty eight point three zero against

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Speaker 3: the dollar, well back in.

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Speaker 2: The US Nathan ten year yields about four and a

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Speaker 2: half percent for the first time since two thousand and seven.

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Speaker 2: It comes after the Fetter Reserve signaled this week it

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Speaker 2: intends to keep rates higher for longer.

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Speaker 4: Fedchier J.

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Speaker 2: Powell says a soft landing for the US economy is

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Speaker 2: still possible, but former Treasury Secretary Larry Summers is not

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Speaker 2: so optimistic.

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Speaker 5: It's possible that we will have the proverbial soft landing,

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Speaker 5: but I think the risks that inflation will be worse

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Speaker 5: than what they say are very real.

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Speaker 2: And Larry Summers made those comments on the latest episode

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Speaker 2: of Bloomberg's Wall Street We You can hear the full

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Speaker 2: conversation tonight at six pm Wall Street Time on Bloomberg

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Speaker 2: Radio and Television, or streamed live on Bloomberg dot Com.

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Speaker 3: In the UK, Karen, we got a pause in rate

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Speaker 3: hikes from the Bank of England after fourteen straight increases.

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Speaker 3: Chancellor of the Exchequer Jeremy Hunt spoke to Bloomberg after

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Speaker 3: the decision, saying he hopes it marks an end to

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Speaker 3: rate hikes.

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Speaker 6: I hope it is, but obviously you have to leave

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Speaker 6: it to the experts in the Bank of England to

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Speaker 6: make the final decision. But I think both of the

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Speaker 6: UK and the US, what you can see is that

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Speaker 6: if you take corrective action and if you stay the course,

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Speaker 6: you can get inflation down and in both our countries

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Speaker 6: it's definitely petd Uk.

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Speaker 3: Chancellor of the Exchequer Jeremy Hunt also discussed having dialogue

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Speaker 3: with China about artificial intelligence. You can get the full

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Speaker 3: conversation on the Bloomberg Talks podcast. Download that wherever you

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Speaker 3: get your podcasts.

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Speaker 2: Onlyabor disputes in the US also in focus this morning,

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Speaker 2: Nathan as the autoworkers strike in Detroit could ramp up today.

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Speaker 2: On Bloomberg's Ed Corey joins us from Detroit with the details.

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Speaker 7: Nearly thirteen thousand UAW members have been on strike at

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Speaker 7: General Motors pick Up planned in Missouri, parts of a

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Speaker 7: Ford plant in Michigan, and is Stlanta's jeep plant at Ohio

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Speaker 7: since last Friday. The union has said the walkout could

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Speaker 7: spread to new facilities as soon as today. If no

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Speaker 7: progress is made, the work stoppage could increase disruptions to

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Speaker 7: an industry that makes up about three percent of the

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Speaker 7: nation's gross domestic product. In Detroit, Ed Corey Bloomberg Radio.

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Speaker 3: Okay, thank you. Meanwhile, the US economy could sue and

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Speaker 3: feel the impact of a government shutdown negotiations are at

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Speaker 3: a standstill. House Speaker Kevin McCarthy sent lawmakers home for

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Speaker 3: the weekend after his latest funding proposal got blocked, Bloomberg said.

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Speaker 3: Baxter joins us.

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Speaker 8: With that McCarthy's efforts to get a government funding bill

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Speaker 8: have blown up as he got ambushed by two ultra conservatives,

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Speaker 8: Eli Crane and once loyal supporter Marjorie Taylor Green.

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Speaker 2: I've been very clear about take the Ukraine money out

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Speaker 2: of the defense bill and put it in a separate

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Speaker 2: funding bill so that members like me can vote.

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Speaker 8: Know and others can vote yes if they want. McCarthy says,

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Speaker 8: still time.

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Speaker 4: I know it's not pretty, but this country's too great

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Speaker 4: to quit on.

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Speaker 8: Nine days with three off now, and the Senate also

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Speaker 8: would need to do something. I'm ed Baxter, Bloomberg.

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Speaker 2: Radio, all right, and thank you well. Taking a look

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Speaker 2: at company news now, Microsoft got a huge boost in

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Speaker 2: its attempt to clear its final global regulatory hurdle to

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Speaker 2: acquire Activision Blizzard, and Bloomberg's John Tucker joins us with

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Speaker 2: that story.

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Speaker 9: John, good morning, Yeah, Karen, Competition authorities in the UK

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Speaker 9: signal it's game on. It's a pretty stunning turnaround for

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Speaker 9: a deal that was once thought dead hand to running

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Speaker 9: up against concerns from the antitrust regulators. So why the

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Speaker 9: change of heart. Microsoft restructured the sixty nine billion dollar deal.

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Speaker 9: They'll sell some gaming rights to French publisher Ubisoft Entertainment,

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Speaker 9: So that's apparently satisfied everybody. There's going to be enough

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Speaker 9: competition in cloud gaming going forward. By acquiring Activision Blizzard,

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Speaker 9: the maker of Call of Duty and Candy Crush, Microsoft

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Speaker 9: can now boost its lagging mobile games business. In New

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Speaker 9: York Time, John Tucker, Bloomberg Daybreak.

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Speaker 3: Okay, John, thanks staying in the tech space. Apple's iPhone

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Speaker 3: fifteen and new watches go on sale today. It's a

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Speaker 3: test of whether a new design can lift the smartphone

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Speaker 3: market out of a slump. And we have another note

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Speaker 3: on Apple as well. It's set to issue smaller raises

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Speaker 3: to its retail employees. Source to say the tech giant

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Speaker 3: will disclose average annual raises of about four percent this week.

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Speaker 3: That's a return to pre pandemic levels.

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Speaker 2: Well mean Mile oversees Nathan Chinese tech giant Huawei's getting

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Speaker 2: a boost in smartphone sales from its new ship. Testing

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Speaker 2: from Bloomberg News and Tech Insights found the cure in

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Speaker 2: nine thousand s processor, which powers Huawei's Mate sixty smartphone

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Speaker 2: series supports five G wireless speeds that made sixty phones

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Speaker 2: or Huawei's first five G devices since US sanctions derailed

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Speaker 2: the company's consumer business three years ago. NSMP futures are

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Speaker 2: little change this morning, well up a tenth of up percent,

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Speaker 2: now up about four points. Dow futures little change, and

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Speaker 2: Nasdaq futures up three tents of up percent or forty

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Speaker 2: three points.

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Speaker 4: And straight ahead.

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Speaker 2: We have more global headlines plus a check of sports,

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Speaker 2: and this is Bloomberg.

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Speaker 3: And here now with those global headlines, and look at

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Speaker 3: what's happening in New York as.

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Speaker 1: Well, we bring in Bloomberg's Michael Parr.

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Speaker 4: Good morning, Michael, Good morning Nathan.

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Speaker 10: A tragic bus crash in New York State left at

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Speaker 10: least two people dead and others in critical condition. The bus,

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Speaker 10: carrying students to a band camp, went off the road

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Speaker 10: near the Orange County town of Wawayanda, possibly due to

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Speaker 10: a faulty front tire. The bus getted off the highway

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Speaker 10: and landed on its sign after tumbling fifty feet. New

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Speaker 10: York Governor Kathy Oakle.

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Speaker 11: Today was a day of terror for forty four passengers

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Speaker 11: on a private coach line a group of high school

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Speaker 11: students members of the Farmingdale Marching Band, en route to

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Speaker 11: a camp in Pennsylvania.

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Speaker 10: The crash, happening nearly a half hour from their destination

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Speaker 10: in the Poconos. Dozens of passengers, mostly students, were injured.

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Speaker 10: Two adults on board were killed, including the band's director.

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Speaker 10: The NYPD made another discovery at the Bronx daycare, where

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Speaker 10: a one year old boy died and three other toddlers

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Speaker 10: were sickened. After its belief they were exposed to fentanyl.

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Speaker 10: Investigators located a trap door in the floor of the

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Speaker 10: apartment located in the play area, where fentanyl and other

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Speaker 10: drugs were seized. The owner of the daycare center and

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Speaker 10: her cousin were arrested. Ukrainian President Vladimir Zelensky has delivered

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Speaker 10: an upbeat message to US lawmakers and President Joe Biden

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Speaker 10: in a visit to Washington, asking for more military aids.

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Speaker 10: Lensky briefed lawmakers on the state of the war and

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Speaker 10: told them Ukrainians are winning. Zelenski is facing some Republicans

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Speaker 10: who are now questioning the flow of American dollars for

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Speaker 10: his troops in the fight against Russian forces. Zelensky also

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Speaker 10: met with President Biden at the White House.

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Speaker 12: I think United States of America and mister President for

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Speaker 12: the new defense package for Ukraine, A very powerful package.

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Speaker 10: Thanks so much. It was Zelenski's second visit to Washington

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Speaker 10: since Russia's invasion. Ninety two year old Rupert Murdoch has

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Speaker 10: announced he's stepping down as the head of Fox and

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Speaker 10: News Corporation boards. No stranger to controversy, Fox reached on

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Speaker 10: settled a huge defamation lawsuit topping seven hundred and eighty

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Speaker 10: seven million dollars with Dominion Voting Systems after Fox News

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Speaker 10: was accused of knowingly pushing false claims about voting machines

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Speaker 10: in the twenty twenty election. Murdoch Sun Lachlan will become

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Speaker 10: the sole chair of News Corporation. Global News twenty four

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Speaker 10: hours a day, powered by more than twenty seven hundred

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Speaker 10: journalist and analysts over one hundred and twenty countries. I'm

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Speaker 10: Michael Barrn. This is Bloomberg Natan.

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Speaker 3: All right, Michael, thank you, of course for bringing you

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Speaker 3: news throughout the day. Here on Bloomberg Radio. But now

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Speaker 3: you can get the latest news on demand whenever you

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Speaker 3: want it. Subscribe to Bloomberg News Now to get the

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Speaker 3: latest headlines at the click of a button. Get informed

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Speaker 3: on your schedule. You can listen and subscribe to Bloomberg

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Speaker 3: News Now on the Bloomberg Business app, Bloomberg dot Com, Apple, Spotify,

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Speaker 3: anywhere else you get your podcasts. Time now for the

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Speaker 3: Bloomberg Sports Update with John Stenshow, all.

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Speaker 10: Right, Natives.

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Speaker 13: Last night, you got a good look at a team

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Speaker 13: that certainly looks capable of being a Super Bowl champion.

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Speaker 13: The forty nine ers last season won of their last

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Speaker 13: ten regular season games. They did fall in the NFC

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Speaker 13: Championship game in Philadelphia. They played that game without a

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Speaker 13: healthy quarterback Week would throw a pass. That's their only

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Speaker 13: loss in their last sixteen games. They meet the Giants

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Speaker 13: Soundley and their home opener thirty to twelve. First downs

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Speaker 13: were twenty six to ten. Total yards were four hundred

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Speaker 13: and forty one to one hundred and fifty. Giants did

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Speaker 13: score third quarter to get to within five, but no

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Speaker 13: comeback like the one they had last Sunday at Arizona.

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Speaker 10: Come home with the record of one and two.

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Speaker 13: Their coach is Brian Dable.

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Speaker 12: You got to take, you know, the good from it

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Speaker 12: and you got to learn from the bad. Just like

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Speaker 12: like every game. The guys competed and you know we

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Speaker 12: competed all the way to the end. You know, they

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Speaker 12: made they made more plays than we did. So you

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Speaker 12: go back and take a look at it, and you know,

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Speaker 12: get going on the next week and.

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Speaker 13: That next game. Not until a week from Monday, a

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Speaker 13: home game to Seattle. This Sunday, Jets host the Owen

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Speaker 13: two Patriots. New England won the last fourteen meetings blow

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Speaker 13: to the Dallas Cowboys. Quarnerback Treyvon Diggs, pro bowler in

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Speaker 13: each of his two seasons, tore his acl and practice

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Speaker 13: at the stadium. Garrett Cole looking very much like a

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Speaker 13: Cy Young winner when eight innings, not only two hits,

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Speaker 13: no walts, nights, drikeouts, Toronto rallied night didn't, but the

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Speaker 13: Yanks held on beat the Blue Jays five to three.

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Speaker 13: Jake Bowers got him going to three run homer in

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Speaker 13: the first. They moved back game over five hundred now

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Speaker 13: host Arizona, so having played a team in search of

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Speaker 13: an American League wild card, they now phase one. That's

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Speaker 13: in the hunt in the nl Mets lost in Philadelphia

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Speaker 13: five to four, Nick Castellanos. The Homer four urbis the

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Speaker 13: Minnesota Twins can clinch the AL Central tonight. Milwaukee's magic

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Speaker 13: number NL Central is three. Don scarshereward Bloomberg Sports.

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Speaker 3: All right, John, thanks SMP futures up a tenth of

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Speaker 3: a percent now features little change. NASDAK futures up three

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Speaker 3: tenths of one percent.

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Speaker 14: From coast to coast, from New York to San Francisco,

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Speaker 14: Boston to Washington, DC, nationwide on Syrias exam the Bloomberg

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Speaker 14: Business Appen Bloomberg dot com. This is bloom Day Break.

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Speaker 4: Good morning.

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Speaker 3: I'm Nathan Hager. We are now eight days into the

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Speaker 3: United Autoworkers strike against the big three Detroit automakers, and

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Speaker 3: in just a few hours time we could find out

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Speaker 3: whether the picket lines expand beyond one plant each for Ford,

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Speaker 3: General Motors and Stilantis. It is a work stoppage that

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Speaker 3: is already severely disrupted the auto industry. Let's bring in

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Speaker 3: Craig Trudell for the latest unware things stand now. Craig

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Speaker 3: is the global cars are for Bloomberg News. So craig,

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Speaker 3: where are we in the negotiations?

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Speaker 15: So the big update today will be at ten am

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Speaker 15: local time in Detroit. That's when the UAW has said

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Speaker 15: they'll hold a press conference to sort of announce their

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Speaker 15: next moves. I think the sort of wide held expectation

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Speaker 15: is that this is a strike that will expand they've

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Speaker 15: talked about, you know, by noon Friday, if they don't

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Speaker 15: have a substantial progress made in these negotiations, that they

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Speaker 15: will sort of up the ante here. So I think,

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Speaker 15: you know, what what we've heard as as this you

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Speaker 15: know strike is is now you know, a weekend, is

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Speaker 15: really that the sort of bid and ask here between

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Speaker 15: the union and the companies remains pretty vast and and

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Speaker 15: not a whole lot of budgeting on either side.

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Speaker 3: So what are the biggest sticking points at this point?

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Speaker 3: We've heard about wage hikes obviously, we've heard about eliminating

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Speaker 3: job tiers. Is there any movement on any of the

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Speaker 3: particular pieces that the UAW is looking for?

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Speaker 15: Yeah, I think, you know, the the idea of wage increases,

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Speaker 15: the idea of of tiers. Where you know, if you're

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Speaker 15: a newer worker, you know for some time now, you've

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Speaker 15: you've been paid less than than a worker right next

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Speaker 15: to you who's who's been you know, with the companies longer.

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Speaker 15: I think, you know, the union also wants to call

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Speaker 15: back some of the concessions that they made, uh say

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Speaker 15: in two thousand and seven or or around uh, you know,

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Speaker 15: that period of you know, when these when these companies

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Speaker 15: were really struggling to survive. Really uh, you know, the

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Speaker 15: union agreed to take on retiree healthcare benefits. Uh you know, uh,

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Speaker 15: retirement you know went away for workers. I think, you know,

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Speaker 15: the companies are particularly reluctant to go back down that road.

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Speaker 15: But I also think, you know, this this comes down

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Speaker 15: as well to you know, job security. I think uh,

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Speaker 15: you know, Stilantis may try to close you know, multiple

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Speaker 15: plants in North America, and the union obviously does not

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Speaker 15: want to see that. I think the company is trying

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Speaker 15: to sort of reassure uh workers that while it may

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Speaker 15: close some facilities, it will be a matter of moving

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Speaker 15: people around. But even that is disruptive to people's to

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Speaker 15: people's lives.

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Speaker 3: In the meantime, of course, we've had picket lines at

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Speaker 3: one plant each for Ford General Motors and Stilantis. What

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Speaker 3: kind of impact has that had on the industry thus far,

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Speaker 3: and how much further could these walkouts expand are we

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Speaker 3: thinking it's going to be another plant each for each

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Speaker 3: of the big three or could be even more than that?

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Speaker 15: I think, you know, to this point obviously, you know,

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Speaker 15: one plant for each company is is uh, you know,

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Speaker 15: something that that the industry you know, doesn't love, but

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Speaker 15: you know can can deal with.

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Speaker 2: Uh.

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Speaker 15: And it's something that that we're quite used to after

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Speaker 15: the last couple of years after all, you know, quite

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Speaker 15: a lot of disruptions to to this industry, uh with

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Speaker 15: with the supply chain issues that that have had the

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Speaker 15: chip shortage. Obviously it was it was for a while there,

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Speaker 15: you know, every other day you heard about another plant

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Speaker 15: going down as a result of the fact that they

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Speaker 15: couldn't get semiconductors. So, you know, we do have a

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Speaker 15: situation where some of these products are are really you

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Speaker 15: know hot and in high demand. You think of of say,

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Speaker 15: you know, the Ford Ranger, Ford Bronco, those who are

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Speaker 15: you know, really tight supply uh GM, the Chevy Colorado.

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Speaker 2: Uh.

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Speaker 15: You know, they only have so much inventory of that,

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Speaker 15: and so we will probably see you know, some depletion

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Speaker 15: of inventory if this lasts longer at the plants that

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Speaker 15: have already you know, where we already have seen walkouts,

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Speaker 15: whether or not you know, we potentially see you know,

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Speaker 15: another plant added at each company. I think is is

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Speaker 15: definitely you know, something that everybody's kind of on the

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Speaker 15: edge of their seat for this afternoon in Detroit. I

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Speaker 15: do think that the union wants to be strategic here

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Speaker 15: and sort of conserve the strike fund that they have.

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Speaker 15: They pay out five hundred dollars a week to every

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Speaker 15: worker who's on strikes, so you know, there's a sort

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Speaker 15: of give and take here. The more plants that you

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Speaker 15: add to this strike, the more, you know, the less

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Speaker 15: you have to work with in terms of that strike fund.

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Speaker 15: So you know, maybe we see some temporary additions of

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Speaker 15: plants and then some taking away of plants where workers

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Speaker 15: have had to cope with only you know, bringing in

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Speaker 15: five hundred dollars a week, you know, for as long

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Speaker 15: as they've been on strike, and kind of shifting around

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Speaker 15: of the sacrifice here.

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Speaker 3: Of course, I expect we'll get more answers, as you said,

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Speaker 3: when that news conference is expected ten am Detroit time.

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Speaker 3: That's eleven am on Wall Street, So we're counting down

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Speaker 3: to yet another deadline in the autoworkers strike against the

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Speaker 3: Detroit Three.

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