Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 1: stories we're following today.
Speaker 3: There are lots to talk about this morning in politics,
Speaker 3: starting in Michigan, where voters took to the polls yesterday
Speaker 3: and brought the nation closer to a twenty twenty four
Speaker 3: rematch between President Biden and former President Donald Trump. But
Speaker 3: the Democratic primary may have been trying to send the
Speaker 3: president a message in his victory. With ninety eight percent
Speaker 3: of votes counted, President Biden one with eighty one point
Speaker 3: one percent, while thirteen point three percent voted uncommitted. A
Speaker 3: campaign called Listen to Michigan had urged Democrats to cast
Speaker 3: a protest, voted, and hope to gather ten thousand votes.
Speaker 3: More than one hundred thousand answered the call. Dearborn resident
Speaker 3: Lexi Zaidan was one of them.
Speaker 4: As you see a number of individuals getting behind a
Speaker 4: protest full through are power to vote to be able
Speaker 4: to tell President Biden that we are uncommitted to him
Speaker 4: and his administration as they continue to aid in a
Speaker 4: bet in the ongoing genocide and.
Speaker 3: RASA dearborn voter, Lexi z Aidan there and as for
Speaker 3: the Republican primary, former President Trump defeated Nikki Haley there
Speaker 3: by a vote of sixty eight point two percent to
Speaker 3: Haley's twenty six and a half percent.
Speaker 1: Well, Nathan. Back in Washington, there are new signs of
Speaker 1: optimism that Congress can avoid a partial government shut down
Speaker 1: at the end of the week. Here's what House Speaker
Speaker 1: Mike Johnson had to say after meeting with President Biden
Speaker 1: and other leaders at the White House.
Speaker 5: We're very optimistic. I hope that the other leaders came
Speaker 5: out here and told you the same.
Speaker 6: We believe that we can get to agreement on these
Speaker 6: issues and prevent a government shutdown.
Speaker 1: But Speaker Mike Johnson and other leaders are still far
Speaker 1: apart on approving billions of dollars for Ukraine and Israel,
Speaker 1: as well as the US Mexico border. Democratic Senator Elizabeth
Speaker 1: Warren says this standoff does not make sense.
Speaker 7: This is the craziest kind of negotiation you would ever see,
Speaker 7: and that is that, as far as I can tell,
Speaker 7: everybody wants to deal keep the government open. We've all
Speaker 7: agreed on what the numbers are as budget deal, right,
Speaker 7: and everyone's agreed on it, and the Republicans in the
Speaker 7: House are just saying no.
Speaker 1: Senator Elizabeth Warren appeared on Bloomberg's Balance of Power with
Speaker 1: Joe Matthew and Kaylee Lines. Catch more of that conversation
Speaker 1: on the Balance of Power podcast.
Speaker 3: Turning to Wall Street, Karen the biggest name in banking,
Speaker 3: sounds like he's warming to red state Texas over the
Speaker 3: Big Apple. More from Bloomberg's John Tucker.
Speaker 5: And Jamie Diamond, praising the lack of an income tax
Speaker 5: in Texas and its light regulatory touch. After touring a
Speaker 5: worker training facility in Houston, the CEO of New York
Speaker 5: based JP Morgan Chase also criticized some New York elected
Speaker 5: officials as being anti business. He said they were the
Speaker 5: reason Amazon chose not to build a second headquarters here.
Speaker 5: For instance, on JP Morgan's workforce in Texas has now
Speaker 5: surpassed thirty thousand in recent years, while New York's total
Speaker 5: has slipped to less than twenty nine thousand. Companies think
Speaker 5: Texas is the place to be In recent years. Tesla
Speaker 5: and Shns Schwab have moved their headquarters to Texas from California,
Speaker 5: while Caterpillar relocated from Illinois. John Tucker Bloomberg.
Speaker 1: Radio, all right, John, thanks, Well, having five million dollars
Speaker 1: does not crack the top one percent in the US anymore,
Speaker 1: and Bloomberg's Ed Baxter explains.
Speaker 8: It's a moving target upward. It now takes five point
Speaker 8: eight million to join the magic circle of rich. How
Speaker 8: fast is it moving, Well, it's almost fifteen percent more
Speaker 8: than twelve months ago. This according to research from Knight Frank.
Speaker 8: Monaco retains the top spot of the highest threshold worldwide
Speaker 8: at twelve point eight million, Luxembourg and Switzerland. Well one
Speaker 8: needs more than eight million to make the cut. The
Speaker 8: findings underscore how rebounding markets in the US and other
Speaker 8: Western nations are widening the gap between rich and poor countries.
Speaker 8: Ed Baxter, Bloomberg Radio, Okay, and thanks.
Speaker 3: In Company News, Apple is canceling it's decade long effort
Speaker 3: to build an electric car. The multi billion dollar project
Speaker 3: began in twenty fourteen. It would have vaulted Apple into
Speaker 3: a whole new industry. Bloomberg Mark German broke the story.
Speaker 9: This is a bombshell development. This is a very rare
Speaker 9: retreat for Apple. This is a project that they've invested
Speaker 9: over ten billion dollars in They've worked on it for
Speaker 9: over ten years. It's had many fits and starts, It's
Speaker 9: had many directional changes.
Speaker 3: Bloomberg's Mark German reports many of the two thousand employees
Speaker 3: we're currently working on the electric car project are going
Speaker 3: to be shifted to Apple's artificial intelligence division.
Speaker 1: Meanwhile, Nathan Apple is also making news on the legal front.
Speaker 1: Company representatives met last week with the Justice Department, and
Speaker 1: we get more with Bloomberg's Doug Chrisner.
Speaker 10: We're told it was the final bid to persuade the
Speaker 10: DOJ not to file an anti trust lawsuit, and forcer's
Speaker 10: allege Apple has imposed limitations on its iPhones and iPads
Speaker 10: to impede rivals from effectively competing, and the app store
Speaker 10: has come under heavy criticism from both app developers and lawmakers.
Speaker 10: Earlier this month, California ag Rob Bonta said the state
Speaker 10: was in touch with the DOJ about the potential case
Speaker 10: and could join on an eventual complaint. We are told
Speaker 10: the suit is expected in the coming weeks, likely by
Speaker 10: the end of March.
Speaker 5: In New York.
Speaker 10: I'm Doug Krisner, Bloomberg Radio.
Speaker 3: Doug Gapple's not the only company in the Justice Department's
Speaker 3: cross hairs. Bloomberg News has learned the DOJS initiated an
Speaker 3: antitrust investigation into United Health Group. Sources say the problem
Speaker 3: merged out of concerns about United Health's acquisitions of healthcare
Speaker 3: providers and data companies. The company and DOJ both declined
Speaker 3: to comment.
Speaker 1: Well checking some stocks on the move this morning, Nathan
Speaker 1: Shares a Beyond Meat surging fifty five percent. The alternative
Speaker 1: protein maker reported fourth quarter sales that surpassed expectations. The
Speaker 1: company says it'll take a number of actions to find
Speaker 1: a pathway to profitability, including reducing operating expenses, adjusting prices,
Speaker 1: and releasing a new healthier Beyond Burger Care.
Speaker 3: And Shares of eBay are up more than three percent
Speaker 3: in early trading. The company posted a strong holiday quarter.
Speaker 3: We get the story from Bloomberg's Charlie Pellett.
Speaker 11: The company also added two billion dollars to an existing
Speaker 11: stock buyback program, increasing the total repurchase authorization to three
Speaker 11: point four billion dollars. Once an industry pioneer, the San Jose,
Speaker 11: California based company who's been losing US market share for
Speaker 11: years to the likes of Amazon and Walmart, and in
Speaker 11: an effort to be more nimble, eBay announced last month
Speaker 11: that it was cutting one thousand jobs, or about nine
Speaker 11: percent of its full time workforce. In New York, Charlie
Speaker 11: Pellett Bloomberg Radio, all Right.
Speaker 1: Charlie, thanks so, Meta CEO Mark Zuckerberg is in Asia
Speaker 1: making stops from Soul to Tokyo. The billionaire discussed ways
Speaker 1: to deepen metas strategic alliance on extended reality technology with
Speaker 1: LG Electronics.
Speaker 12: We had a good productive conversation about AI and the
Speaker 12: future of technology, and I'm really excited for the work
Speaker 12: that is happening here in Japan.
Speaker 1: Mark Zuckerberg's next stop is India, where he is slated
Speaker 1: to attend the pre wedding celebrations at billionaire Mukash and
Speaker 1: Bonnie's youngest son.
Speaker 3: Time and not to take a look at some of
Speaker 3: the other stories making news in New York and around
Speaker 3: the world with Bloomberg's Michael Barr, Good morning, Michael.
Speaker 13: Good morning. Nathan. Israel animas appear to be inching toward
Speaker 13: a new deal that would freeze some of the roughly
Speaker 13: one hundred and thirty hostages held in the Gaza Strip
Speaker 13: in exchange for a week's long pause in the war.
Speaker 13: President Joe Biden says a deal could go into effect
Speaker 13: as early as Monday. Meanwhile, the UN says a quarter
Speaker 13: of Gaza's population is one step from famine and a
Speaker 13: trucks are being looted by hungry people. The UN Envoy
Speaker 13: for the Observed State of Palestine, Riad Mansour, accused Israel
Speaker 13: of using famine as a weapon of war.
Speaker 14: Sorelli's use of starvation as a method of warfare has
Speaker 14: become one of the main tools and es genocidal arsenal
Speaker 14: against the Palacinian people. This is a fact that cannot
Speaker 14: be ignored and for which there must be immediate accountability.
Speaker 13: US Representative Robert Wood also spoke at the UN Security
Speaker 13: Council meeting.
Speaker 6: It is unconscionable that Hamas fighters continue to embed themselves
Speaker 6: among civilians and civilian infrastructure, including in hospitals and schools.
Speaker 6: We caution that a major ground offensive should not proceed
Speaker 6: in Rafa under the current circumstances.
Speaker 13: US Representative Wood is also calling for the protection of
Speaker 13: UN and humanitarian workers. President Biden will sign an executive
Speaker 13: order today designed to prevent foreign entities from accessing troves
Speaker 13: of Americans' personal data amid worries it could be exploited
Speaker 13: for commercial and military advantage, particularly by China and Russia.
Speaker 13: It appears New York Mayor Eric Adams is behind modifying
Speaker 13: sanctuary city laws. Adams said migrants who commits US crimes
Speaker 13: should be deported and the city should be able to
Speaker 13: communicate with federal ICE agents. However, Adams also supports the
Speaker 13: city's stance on how it treats migrants.
Speaker 15: We met when national leaders who came here and walked
Speaker 15: through what we're doing, and they stated, no one is
Speaker 15: doing what the City of New York is doing.
Speaker 11: No one.
Speaker 15: And they said, you are treating people with the humanitarian
Speaker 15: response and dignity that should be duplicated across the entire country.
Speaker 13: Adams made its comments after forty migrants were found yesterday
Speaker 13: sleeping in a queen's basement behind a furniture store. It
Speaker 13: came after a tip about e bike batteries and a
Speaker 13: potential fire hazard. Voters in Bridgeport, Connecticut elected to keep
Speaker 13: Joe Gadam as mayor. It comes after a judge throughout
Speaker 13: earlier results because of allegations of absentee ballot box stuffing
Speaker 13: during a Democratic primary Gadam defeated a former aide, fellow Democrat,
Speaker 13: John Gomes fifty six percent to forty three percent. Global
Speaker 13: in the English twenty four hours at and whenever you
Speaker 13: want it with Bloomberg News Now, I'm Michael Barr. This
Speaker 13: is Bloomberg NEKTA now.
Speaker 3: Funny mention Bloomberg News Now, Michael, because of course we
Speaker 3: do bring you news throughout the day here on Bloomberg Radio.
Speaker 3: But now you can get the latest news on demand
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Speaker 3: Listen and subscribe to Bloomberg News Now on the Bloomberg
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Speaker 3: or find it on Apple, Spotify or anywhere you get
Speaker 3: your podcasts. Bout time now for the Bloomberg Sports Update,
Speaker 3: brought to you by Tri State out he Here's John
Speaker 3: stash Hour, Thanks.
Speaker 16: Naith, and the next that we're on the floor at
Speaker 16: the Garden. Not the lineup they hoped to have come
Speaker 16: playoff time, but for now, the two All Stars didn't play,
Speaker 16: nor did the top two centers, both starting forward Jamaine injured.
Speaker 16: The depleted next lost of the Pelicans one fifteen to
Speaker 16: ninety two. They shot just thirty seven percent. Since that
Speaker 16: nine game winning stree, Knicks are just three and seven.
Speaker 16: I hos Golden State tomorrow. The Warriors got Chris Paul
Speaker 16: back from injury. They won in Washington. They've won nine
Speaker 16: of the last eleven. The Celtics have won all of
Speaker 16: their last nine, one seventeen ninety nine over Philadelphia, who's
Speaker 16: struggling without Joe LMB for the six Ers twelve losses
Speaker 16: the last sixteen games. Net's got blown out in Orlando.
Speaker 16: They lost one O eight to eighty one Dallas. In Cleveland,
Speaker 16: the MAVs led by a point, quite a fine. Chev's
Speaker 16: out of timeout strew send them mobly back to Max
Speaker 16: half court.
Speaker 15: Shot God, God, Jeff Win, this place is Golledge.
Speaker 16: Crazy, etam the call of Max Struce's game winning sixty
Speaker 16: foot shot. Devils and San Jose scored seven on answer
Speaker 16: and four goals in a fan of four minutes sixteen
Speaker 16: seconds the third period. New Jersey won seven to two.
Speaker 16: Capitol's lost in Detroit eight to three. I went for
Speaker 16: Colorado and Nathan McKinnon. He's got at least one point
Speaker 16: in every ABS home game this season. Rangers look to
Speaker 16: start a new winning streak tonight at the Garden. They
Speaker 16: faced the same Columbus team that beat them Sunday and
Speaker 16: the Rangers club record tying ten game win stream. Two
Speaker 16: college basketball games last night were delayed at Indiana fire
Speaker 16: alarms went off they had to evacuate the arena. In
Speaker 16: a Texas Tech fans through bottles onto the court after
Speaker 16: a hard foul by a Texas player. And in the
Speaker 16: Cactus League, first time Shoeo Tommy played the Dodgers and
Speaker 16: sure enough he's seven hundred million dollar man hit a
Speaker 16: home ruck.
Speaker 3: John Stashaware, Bloomberg Sports DEEPA okay, John, Thanks, Let's get
Speaker 3: right back now to our top stories this morning. President
Speaker 3: Biden and former President Trump are inch and closer to
Speaker 3: a twenty twenty four rematch after the Michigan primary, and
Speaker 3: Congress maybe inch and closer to a voting a partial
Speaker 3: government shutdown following a leader's meeting at the White House.
Speaker 3: For more on all this, we're joined by Laura Davison,
Speaker 3: Deputy Politics editor for Bloomberg News. So it was runaway
Speaker 3: victories for both presidents Biden and Trump in Michigan. But
Speaker 3: there's been a lot of focus, Laura on this uncommitted
Speaker 3: vote on the Democratic side, This protest vote seems pretty
Speaker 3: significant after the results last night.
Speaker 17: Yeah, about thirteen percent of the vote that came in
Speaker 17: was uncommitted, you know, not choosing Joe Biden nor any
Speaker 17: of the alternatives Dean Phillips or Mary and Williamson on
Speaker 17: the ballot. So this is a warning sign for the
Speaker 17: Biden campaign. It doesn't you know, affect the primary, it
Speaker 17: doesn't affect the delegates, but what it can do is,
Speaker 17: you know, really show Biden where his weaknesses are in
Speaker 17: a very key swing state going into twenty twenty four.
Speaker 17: This is a state that Biden won in twenty twenty
Speaker 17: and Trump won in twenty sixteen, and so Michigan as
Speaker 17: well as sort of Pennsylvania and Wisconsin, those states all
Speaker 17: there in the Upper Midwest are seen as sort of
Speaker 17: critical to twenty twenty four. And having this relatively significant
Speaker 17: portion of the vote, you know, kind of lodged this
Speaker 17: protest vote against Joe Biden, you know, is a worrying side.
Speaker 3: For his campaign and the campaign behind this. Listen to
Speaker 3: Michigan was focused specifically on President Biden's stand on the
Speaker 3: war in Gaza. Could that point to a potential vulnerability
Speaker 3: in a likely rematch with President Trump in November.
Speaker 17: Yeah, this has been you know, an issue for both
Speaker 17: Arab American voters, which there's a sizable population in Michigan,
Speaker 17: as well as a lot of young voters. You know,
Speaker 17: it's unclear exactly how big of a deal this will play,
Speaker 17: you know, looking down eight months down the road. In November,
Speaker 17: typically voters have voted more on domestic issues, things like immigration,
Speaker 17: the economy, rather than foreign policy. But because of the
Speaker 17: personal nature of this issue for many Americans as well
Speaker 17: as just the amount of the response and how you know,
Speaker 17: top of mind, this has been this could be an
Speaker 17: issue or for President Biden in the fall.
Speaker 3: And as for former President Trump, he did defeat Nikki
Speaker 3: Haley by more than forty percentage points, I think, but
Speaker 3: there's still a fairly significant vote for Nikki Haley. What
Speaker 3: does that say about his potential in November.
Speaker 17: Yeah, So Haley you know, only got a little bit
Speaker 17: over a quarner of the vote in Michigan, and that's
Speaker 17: less well than she has done both in New Hampshire
Speaker 17: and South Carolina before this, But as you noted, it's
Speaker 17: still a significant portion of the vote. You know, it's
Speaker 17: not enough to win. It's not enough, you know, to
Speaker 17: show that she sort of has momentum to beat Trump
Speaker 17: at this point, but it shows that there's you know,
Speaker 17: about one in four Republicans are not happy with Trump
Speaker 17: and are you know, worried about you know, the variety
Speaker 17: of risks he brings to the ticket. You know when
Speaker 17: those legal his policies, and you know, this is really
Speaker 17: you know where you saw the Haley vote come in
Speaker 17: or some of these key areas that that you know,
Speaker 17: may decide the twenty twenty four election, places like the suburbs,
Speaker 17: women as well as college educated voters.
Speaker 3: Our last minute, Laura, what can we say about the
Speaker 3: odds of a potential government shutdown at the end of
Speaker 3: the week. Following that White House meeting with the congressional
Speaker 3: leaders yesterday, Those.
Speaker 17: Are ticking down slightly. There was a meeting with the
Speaker 17: top congressional leaders yesterday at the White House. You know,
Speaker 17: they don't have a deal yet, though there are is
Speaker 17: talk of some sort of short term continuing resolution as
Speaker 17: would basically kick the can down the road. So instead
Speaker 17: of having a deadline on Friday and next Friday, those
Speaker 17: deadlines would be moved to next Friday and then later
Speaker 17: in March. So we you know, will a Burg a
Speaker 17: shutdown for right now? That would mean that, you know,
Speaker 17: we would be on that cliff, you know, just a
Speaker 17: couple of days down the road.
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