Speaker 1: News when you want it with Bloomberg News. Now, I'm
Speaker 1: Doug Prisner, and we begin in New England, where officials
Speaker 1: say the man suspected of killing two students at Brown
Speaker 1: University has been found dead in a storage facility in Salem,
Speaker 1: New Hampshire. Authorities say he took his own life. The
Speaker 1: man is also suspected of killing an MIT professor in
Speaker 1: his Boston area home. The man has been identified as
Speaker 1: Claudio Neves Valente. He is a forty eight year old
Speaker 1: Portuguese national. He's also a former Brown graduate student. Here
Speaker 1: is Leo Foley, the US attorney in Massachusetts.
Speaker 2: So investigators identified the vehicle that he had rented in
Speaker 2: Boston and then drove to Rhode Island, and he was
Speaker 2: seen in the vehicle, was seen outside of Brown, and
Speaker 2: there was security footage that showed a person who resembled him.
Speaker 2: There was online there was financial investigations that were going
Speaker 2: on in the background that linked him not only to
Speaker 2: that car, but also to the hotel tells that he
Speaker 2: had rented and the cars, the car that he had
Speaker 2: used to not only drive to Rhode Island but then
Speaker 2: back to Boston.
Speaker 1: That's Leah Foley, the US attorney in Massachusetts, TikTok assigned
Speaker 1: binding agreements to create a US joint venture majority owned
Speaker 1: by American investors. According to an internal memo reviewed by Bloomberg,
Speaker 1: CEO show Chew said agreements with Oracle, Silver Lake, and
Speaker 1: MGX have been signed. Now this US joint venture will
Speaker 1: operate as an independent entity. Here is Bloomberg's Mike Shepherd.
Speaker 3: The idea is that it would be a copy leased
Speaker 3: from by Dance, but then retrained to some degree or
Speaker 3: another by Oracle and also walled off in a way.
Speaker 3: They would create some sort of a security firewall or
Speaker 3: barrier that would keep byte Dance from ever gaining access
Speaker 3: to US data or to the algorithm itself, out of
Speaker 3: concerns that there could be some manipulation.
Speaker 1: That is Bloomberg's Mike Shepherd. The l Nike reported more
Speaker 1: weakness in the Chinese market as well as in its
Speaker 1: converse brand, and these negatives offset higher than expected revenue
Speaker 1: for the latest quarter. Here is Punam Goyel, senior retail
Speaker 1: analyst at Bloomberg Intelligence.
Speaker 4: When we talk about China, I think it's going to
Speaker 4: take some time. We may not see anything in their
Speaker 4: fiscal twenty twenty six likely at twenty twenty seven to
Speaker 4: twenty twenty eight initiative on the converse side, you know,
Speaker 4: getting converse right is important, but I really think what's
Speaker 4: more important right now is getting China right. So if
Speaker 4: I had them focused on one thing right now, it
Speaker 4: would be how do you fix China?
Speaker 1: That was Punam Goyel from Bloomberg Intelligence. Shares and Nike
Speaker 1: were down by more than ten percent in late US trading.
Speaker 1: FedEx reported adjust at EPs for the latest quarter above estimates,
Speaker 1: and the company raised the low end of its outlook
Speaker 1: for both full year profit and sales. FedEx is expecting
Speaker 1: sales to rise in the new year between five to
Speaker 1: six percent. Here is Bloomberg analyst Leek Klascow.
Speaker 5: Obviously a bead is always better than a med, so
Speaker 5: I think that's obviously some good news. It looks like
Speaker 5: the margins came in a lot better than what expectations were,
Speaker 5: about eighty basis points better than consensus. Overall, it looks
Speaker 5: like a very good print for the company, especially giving
Speaker 5: the challenge an environment, whether it's them grounding the MD
Speaker 5: elevens or the end of the minimist exemptions. Looks like
Speaker 5: they're working through that through their restructuring.
Speaker 1: Programs, that is Bloomberg's League Classical Now FedEx is also
Speaker 1: estimating that restructuring plan will produce a billion dollars in
Speaker 1: permanent cost reductions. In twenty twenty six, shares and FedEx
Speaker 1: were up by more than two percent in late US trading.
Speaker 1: Coinbase Global is suing three states over their attempt to
Speaker 1: regulate prediction markets. The states are Michigan, Illinois, and Connecticut. Now,
Speaker 1: state agencies and casinos want the authority over prediction markets
Speaker 1: to rest with states and their respective gambling laws. However,
Speaker 1: Coinbase will ask for court orders affirming that the states
Speaker 1: cannot interfere with the Commodity Futures Trading Commissions exclusive jurisdiction
Speaker 1: over prediction markets granted by Congress. The European Union has
Speaker 1: agreed to provide a loan to Ukraine of ninety billion
Speaker 1: euros for the next two years now. The aim is
Speaker 1: to strengthen Kiev's hand and to keep Ukraine afloat. This
Speaker 1: loan will be backed by the EU's budget. President Trump
Speaker 1: has signed in executive order to accelerate loosening of restrictions
Speaker 1: on marijuana, but the president did stop short of legalizing it. Currently,
Speaker 1: marijuana is labeled as a Schedule one drug, the government's
Speaker 1: most restrictive class, alongside substances such as heroin and LSD
Speaker 1: well Now, the Justice Department has been instructed to begin
Speaker 1: the steps to shift cannabis to Schedule three. That's a
Speaker 1: tier reserved for drugs with accepted medical uses and lower
Speaker 1: potential for abuse. Here is President Trump.
Speaker 6: The facts compel the federal government to recognize that marijuana
Speaker 6: can be legitimate in terms of medical applications when carefully administered.
Speaker 6: In some cases, this may include the use as a
Speaker 6: substitute for addictive and potentially lethal opioid painkillers.
Speaker 1: Now, the President went on to say this move also
Speaker 1: makes it easier to conduct more research using cannabis. Also, today,
Speaker 1: President Trump signed an executive order giving federal employees days
Speaker 1: off on Christmas Eve and December twenty sixth. However, both
Speaker 1: the New York Stock Exchange and the NASDAQ will not
Speaker 1: alter their trading schedules for those days. The Department of
Speaker 1: Health and Human Services is taking actions to block access
Speaker 1: to gender affirming care for minors. The proposal includes cutting
Speaker 1: off federal Medicaid and Medicare funding for hospitals that provide
Speaker 1: gender affirming care to children, and it would prohibit Medicare
Speaker 1: dollars from being used to fund those procedures. Here is
Speaker 1: Health in Human Services Secretary Robert F. Kennedy Junior.
Speaker 2: So called gender affirming care has inflicted lasting physical and
Speaker 2: cyclo logical damage on vulnerable young people.
Speaker 3: This is not medicine.
Speaker 1: It is malpractice. HHS Secretary Robert F. Kennedy Junior. And
Speaker 1: that is news when you want it with Bloomberg News. Now,
Speaker 1: I'm Doug Chrisner, and this is Bloomberg