Speaker 1: Live from the Bloomberg Interactor Berger Studios is Bloomberg day
Speaker 1: Break for Tuesday, March twenty nine two. Coming up this hour,
Speaker 1: peace talks between Russia and Ukraine restart today. President Biden
Speaker 1: clarifies his her marks on Vladimir Plutin, billionaires in private equity,
Speaker 1: Gurdford tax nikes from the White House, and bankers in
Speaker 1: Hong Kong's scope raises and promotions. New York Mayor Eric
Speaker 1: Adams is slamming Florida's new Don't Say Gay bill, Plus
Speaker 1: the January sixth penal recommends holding two Trump aids in contempt.
Speaker 1: Michael Barr More ahead, I'm John stashwon sports. The Knicks
Speaker 1: beat the Bulls at the Garden. The Yukon women won
Speaker 1: in double overtime to advance to the final board. That's
Speaker 1: all straight ahead on Bloomberg day Break on Bloomberg Eliving Trio,
Speaker 1: New York, Bloomberg Washington, d C, Bloomberg one O six one, Boston,
Speaker 1: Bloomberg nine sixties, San Francisco, Sirius x M one nineteen
Speaker 1: and around the world. Old on Bloomberg Radio dot Com
Speaker 1: and via the Bloomberg Business Set. Good morning, I'm Nathan
Speaker 1: Hagar and I'm Karen. Moscow and US futures are higher
Speaker 1: this morning. We're coming up to five oh one on
Speaker 1: Wall Street, and we checked the markets every fifteen minutes
Speaker 1: throughout the trading day. On Bloomberg, SNP Future is up
Speaker 1: thirteen points down, futures up ninety four NASDAC Future is
Speaker 1: up thirty two. The decks in Germany's at one point
Speaker 1: two percent. Ten year treasury down eleven thirty seconds, yield
Speaker 1: two point five percent. The yield on the two year
Speaker 1: two point four one percent. Nim X screut oil is
Speaker 1: up one point one percent, up a dollar eleven and
Speaker 1: a hundred seven dollars four cents of barrel, and the
Speaker 1: euro one point oh nine eight one against the dollar. Nathan, Karen,
Speaker 1: we begin this morning with the latest on the war
Speaker 1: in Eastern Europe. Ukraine is looking for a cease fire
Speaker 1: agreement in talks with Russia negotiators. Today we get the
Speaker 1: very latest from Bloomberg International Affairs reporter Mark Champion is
Speaker 1: exchanged for the ceasefire is less clear and the sequencing
Speaker 1: would be quite difficult because at the moment what the
Speaker 1: Ukrainians are talking about is able to agree to neutrality.
Speaker 1: In exchange from neutrality, there would be security guarantees from
Speaker 1: other Western countries, similar to NATO's Article five. You know,
Speaker 1: all that would have to be agreed in a referendum
Speaker 1: that would take a year. So how that all gets
Speaker 1: sequences extremely difficult to understand. What would be the borders
Speaker 1: that were being guaranteed by these guaranteurs in the West
Speaker 1: is difficult to understand at that point. Bloomberg's Mark Champion
Speaker 1: reports talks are underway in Turkey. President Urdiwan is telling
Speaker 1: the Ukrainian and Russian delegations he expects quote good news
Speaker 1: from the meeting. Meantime, Nathan Russia appears to be making
Speaker 1: good on it's a debt. Moscow says it made it
Speaker 1: more than a hundred million dollar interest payment on its
Speaker 1: foreign bonds. Despite financial isolation in the face of warnings
Speaker 1: from credit rating agencies, the government has so far sidestepped
Speaker 1: to default. Back Here in the U s care and
Speaker 1: President Biden is clarifying his remarks on Vladimir Putin. He
Speaker 1: says the US is not seeking to remove the Russian president,
Speaker 1: but he does have the right to express concern. Bloomberg's
Speaker 1: At Baxter has the story. The President says he's not
Speaker 1: planning regime change in Russia, but has the right to
Speaker 1: express his opinion. I was expressing my outrage as the
Speaker 1: behavior this man. It's outrageous. It's outrageous, and it's more
Speaker 1: an aspiration, and he shouldn't be in power. There's no
Speaker 1: I mean, people like this shouldn't be ruling countries. But
Speaker 1: they do. The fact they do, but does mean I
Speaker 1: can't express my outrage about it. And NATO is having
Speaker 1: its debate about talking directly with Putins some countries saying
Speaker 1: before any talks, there has to be a ceasefire in Ukraine.
Speaker 1: In San Francisco, I'm at Baxter Bloomberg Daybreak and thank
Speaker 1: you now. An update on President Biden's agenda back home.
Speaker 1: The White House is doubling down on efforts to overhaul
Speaker 1: the tax code. It's looking to get more money from
Speaker 1: the wealthiest households and largest companies. Amy Morris has details
Speaker 1: from our Bloomberg newsroom in Washington. President by and says
Speaker 1: his plan is designed to chip away at the deficit
Speaker 1: run up by the Trump administration. Track cut the deficit
Speaker 1: by more than one trillion, three hundred billion dollars that
Speaker 1: would be the largest one year reduction and deficit in history.
Speaker 1: Part of that would be funded through a minimum tax
Speaker 1: on mega millionaires and billionaires, including on their unrealized gains,
Speaker 1: raising an estimated three hundred sixty billion dollars over a
Speaker 1: decade from roughly the wealthiest twenty thousand households in the country.
Speaker 1: But it faces opposition in Congress, and not just from Republicans.
Speaker 1: The billionaire tax is also a key fault line between
Speaker 1: moderate Democrats and progressives. White House advisors are now talking
Speaker 1: with wallmakers about how to win support for the tax
Speaker 1: proposal in Washington. I'm anymore as Bloomberg Daybreak, thanks Amy. Meantime,
Speaker 1: the Senate has passed a measure to help US tech company.
Speaker 1: Senators passed their version of a longstalled bill to help
Speaker 1: the U S semiconductor industry and boost competitiveness with China.
Speaker 1: That sets the stage for negotiations with the House, which
Speaker 1: passed its own version. The measure includes fifty billion dollars
Speaker 1: to boost chip manufacturing. All right, let's turn to the
Speaker 1: markets now. Nathan and a few companies making headlines this
Speaker 1: morning Bloomberg. John Tucker joins US Live with the latest.
Speaker 1: Good morning, John, Good morning, Carol. Let's start out with FedEx.
Speaker 1: The packet shipping company named Rod Subramanian as its new CEO.
Speaker 1: He takes the reins from seventy seven year old founder
Speaker 1: Fred Smith, who pioneered express delivery almost fifty years ago.
Speaker 1: Smith had been in the midst of the campaign to
Speaker 1: overhaul the company to stem declining profit margins. Meantime, Amazon
Speaker 1: has become the first mega cap tech dot to erase
Speaker 1: losses for the year. Shares are now at one point
Speaker 1: four percent of the year, after having dropped more than
Speaker 1: eighteen percent earlier this month. And also of note this
Speaker 1: morning meme favorite game Stop rose for a tenth consecutive
Speaker 1: session yesterday. That gives the stock its longest winning streaks
Speaker 1: since April of It's up a staggering one or over
Speaker 1: the past two weeks. Live in New York, I'm John Tucker,
Speaker 1: Bloomberg Daybreak and John in London. This morning. Shares a
Speaker 1: Barclays are down three and two thirds percent after a
Speaker 1: shareholders sold about one point two billion dollars of stock.
Speaker 1: The sale came a day after Barclays revealed a costly
Speaker 1: blunder and how it sold billions of dollars in securities.
Speaker 1: The identity of the Barclay seller was not disclosed. Meantime,
Speaker 1: in Hong Kong, Nathan, the outlook for bangers is looking up.
Speaker 1: The city has seen an exodus of finance staff, but
Speaker 1: those that state are getting rewarded. Blumbergs you need a
Speaker 1: young joints ups live with the details. Good morning Renny Down,
Speaker 1: Good morning Karen. For tech savvy workers willing to live
Speaker 1: in a city largely isolated from the rest of the world,
Speaker 1: opportunities like big promotions and big pay increases are plentiful,
Speaker 1: at least in the short term. Typically, finance workers heading
Speaker 1: to a different company in Hong Kong would get about
Speaker 1: a fifteen percent pay hike, but executive search firm E
Speaker 1: s d I says they're seeing twenty to thirty increases. Meantime,
Speaker 1: government data show the number of new visas issued to
Speaker 1: foreign financial service workers in Hong Kong fell last year,
Speaker 1: down almost fifty per sent from eighteen and that was
Speaker 1: before the Omicron variant prompted more lockdowns. Live in New York,
Speaker 1: I'm gonna need a young Bloomberg day break, Okay, we
Speaker 1: need to thanks SMP futures up fourteen points staff features
Speaker 1: up a hundred eleven, nastack futures up thirty five points,
Speaker 1: straight ahead, your latest local headlines, and a check of sports.
Speaker 1: This is Bloomberg. That's up five oh seven on Wall
Speaker 1: Street where twenty five degrees in Central Park got start
Speaker 1: so far on the bridges and tunnels. Will check traffic
Speaker 1: in just a few minutes. First, Michael Bars here with
Speaker 1: what else is going on in New York and around
Speaker 1: the world. Good morning, Michael, Good morning Nathan. New York
Speaker 1: City Mayor Eric Adams is denouncing Florida's controversial Don't Say
Speaker 1: Gay bill. In signing the bill, Florida Governor Rond De
Speaker 1: Santis says the legislation forbids instruction on sensual orientation and
Speaker 1: gender identity in kindergarten through third grade in Florida. We
Speaker 1: not only know that parents have a right to be involved,
Speaker 1: we insist that parents have a right to be involved.
Speaker 1: Joe Saunders with the LGBTQ advocacy group Equality Florida said
Speaker 1: the Santis has set the state back decades. Governor De
Speaker 1: Santis has damaged our state's reputation as a welcoming and
Speaker 1: inclusive place for all families. He has made us a
Speaker 1: laughing stock and a target of national derision. Worst he
Speaker 1: has made schools less safe for children. New York Mayor
Speaker 1: Adams called the bill hateful and harmful, saying on social
Speaker 1: media to the families living in fear of this state
Speaker 1: sponsored discrimination, You're welcome in New York City. Our arms
Speaker 1: and hearts are wine open. The House Committee voted unanimously
Speaker 1: last night to recommend contempt citations against two of former
Speaker 1: President Trump's White House advisors for it defying subpoenas to
Speaker 1: testify into last year's riot at the US Capitol. The
Speaker 1: panel name former aides Nan Scovino and Peter Navarro. Congresswoman
Speaker 1: Liz Cheney, the top Republican on the Selective Committee, said
Speaker 1: anyone who participated in the January six efford should be
Speaker 1: held accountable. As a federal judge concluded today, the illegality
Speaker 1: of President Trump's plan for January six was quote obvious.
Speaker 1: Cheney was referring to U. S District Judge David Carter, writing,
Speaker 1: the court finds it more likely than not that President
Speaker 1: Trump corruptly attempted to obstruct the Joint Session of Congress
Speaker 1: on January one. The founder of Sittledale is giving forty
Speaker 1: million dollars to New York City's American Museum of Natural History.
Speaker 1: The donation is part of the three forty million dollars
Speaker 1: raised so far for the Richard Gilder Center for Science,
Speaker 1: Education and Innovation, which is set to open sometime late
Speaker 1: between two and early three. Actor Will Smith apologized to
Speaker 1: Chris Rock after he slapped the comedian at the Oscar
Speaker 1: Sunday night. Meanwhile, the Academy of Motion Pictures, Arts and
Speaker 1: Sciences opened a formal review of Smith's behavior. Global News
Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,
Speaker 1: powered by more than having under journalist analysts in more
Speaker 1: than a hundred twenty countries. On Michael Bard, This is Bloomberg,
Speaker 1: Nathan Michael, thank you. Coming up to five ten on
Speaker 1: Wall Street time for the Bloomberg Sports Update. Good morning,
Speaker 1: John Sesshion, Good morning eight. And it's hard to make
Speaker 1: the NBA playoffs when you win only one game in
Speaker 1: the month of February like the next day, and the
Speaker 1: Nicks are almost certainly not going to make it four
Speaker 1: and a half games behind, but they had one four
Speaker 1: in a row for the first time all year. They
Speaker 1: came from twelve down beat Chicago with the Garden one
Speaker 1: oh nine, one oh four, R. J. Barrett with twenty
Speaker 1: eight points, Alley first twenty seven to margin Rosenport in
Speaker 1: thirty seven for the Bulls. Nets Home tonight for Detroit
Speaker 1: Rangers are in Pittsburgh n C Double A Women's tournament
Speaker 1: double overtime in Bridgeport, Yukon b n C State seven.
Speaker 1: Reactions from the coach Gino Oriema and the star player
Speaker 1: Paige Beckers. This is one of the best games I've
Speaker 1: ever been a part of UM since I've been in
Speaker 1: the time. The regular season, postseason, doesn't really matter. It
Speaker 1: was just a lot of fun and playing two very
Speaker 1: competitive teams. My coach said, just playing for our lives
Speaker 1: at that point, and we found a way to win
Speaker 1: and stuck together and we stay composed in Yeah, I'm
Speaker 1: just it was really exciting team for sure. So you
Speaker 1: kind of go to the Women's Final four for the
Speaker 1: twenty second time under Ori e m they've don their
Speaker 1: fourteen years in a row. The jetson Son Freegan defensive
Speaker 1: lineman Salomon Thomas, once the third overall pick of the draft,
Speaker 1: he played for Jets coach Robert Sala when Sale coach
Speaker 1: the forty Niners Defense Giants. G M Joe Shane says
Speaker 1: he has not initiated any trade. Tops were going to
Speaker 1: st Kuon Barkley. NFL owners are meaning they're considering a
Speaker 1: change in overtime rules where both teams would be short
Speaker 1: of a possession. Baseball forty two year old Albert Poole
Speaker 1: says this will be his final season. He's spending it
Speaker 1: with the team he used to start for. Tho St.
Speaker 1: Louis Cardios, John Stashward, Bloomberg SPOSI, thanks John SMP futures
Speaker 1: up twenty points, Staff futures up Huddy six, n SECT
Speaker 1: futures hired by fifty nine points ten. Your treasury yield
Speaker 1: two point five one per cent the yield on the
Speaker 1: two year two point four two spread of eight basis points.
Speaker 1: You're listening to Bloomberg day Break Bloomberg eleven three oh Weather, sunny, breezy,
Speaker 1: high only near forty today, chance for midday rain or
Speaker 1: snow tomorrow. Otherwise scattered afternoon showers with highs in the
Speaker 1: mid forties. Will be near seventy by Thursday. Right now
Speaker 1: twenty five in Central Park Markets, headlines and breaking news
Speaker 1: twenty four hours a day at Bloomberg dot Com, the
Speaker 1: Bloomberg Business Outland. At Bloomberg Quick Tape, He's a Bloomberg
Speaker 1: business lash and I'm Cameron. Moscow stocks are rising as
Speaker 1: ceasefire talks between Russia and Ukraine helped to fuel risk appetite.
Speaker 1: U West Dock Index futures also gaining after benchmark indexes
Speaker 1: rose for a third session yesterday. We checked the markets
Speaker 1: every fifteen minutes throughout the trading day on Bloomberg S
Speaker 1: and P futures up twenty points now futures about hundred
Speaker 1: forty three nasday futures up sixty The decks in Germany's
Speaker 1: up win in three quarters per cent ten Your treasury
Speaker 1: down fourteen thirty seconds, yeld two point five one percent,
Speaker 1: the yield on the two year two point four two percent.
Speaker 1: Nine X Screwed oil is down four tenths percent, or
Speaker 1: forty three cents at a hundred five dollars sixty three
Speaker 1: cents of barrel comes goold down one and a half percent,
Speaker 1: down twenty nine dollars thirty cents. In nineteen fifteen, forty
Speaker 1: announced the euro one point one zero to six against
Speaker 1: the dollar. British bound one point three zero eight nine
Speaker 1: and the enit on three point six four bitcoin in
Speaker 1: this morning moving lower down half percent at forty seven thousand,
Speaker 1: seven hundred thirty dollars. That's a Bloomberg business flash. Now
Speaker 1: here's Michael Barr with more unless going on around the world, mouncle,
Speaker 1: Good morning, Good morning Karen. More than a month after
Speaker 1: Russia invaded Ukraine, the two nations resumed negotiations toward a ceasefire.
Speaker 1: Today to sit down is taking place over three days
Speaker 1: at instant Bul. Ukrainian President Voladimir Zelenski says this country
Speaker 1: would consider a neutrality agreement to achieve peace. Shanghai beefed
Speaker 1: up lockdown restrictions for people residing in the eastern half
Speaker 1: of the city, barring everyone from leaving their homes even
Speaker 1: to walk their dogs. Record local daily COVID nineteen infections
Speaker 1: jumped today to close to forty eight hundred. In the NBA,
Speaker 1: the next one, the Celtics and Warriors lost. Yukon is
Speaker 1: heading back to the Women's n C Double A Final
Speaker 1: four for the fourteenth straight time, the Huskies beating North
Speaker 1: Carolina State and double overtime. Yukon will face Stanford Louisville
Speaker 1: is also when they'll face South Carolina in the NHL.
Speaker 1: The Capital's Lost. Global news twenty four hours a day
Speaker 1: on air and on Bloomberg Quickdake, powered by more than
Speaker 1: twenty seven hundred journalists an analysts more than hundred twenty countries.
Speaker 1: Michael Barr, This is Bloomberg. Nathan. Okay, Michael. Thanks, It's
Speaker 1: five nineteen on Wall Street Live from the Bloomberg Interactive
Speaker 1: Brokers studios. This is Bloomberg Daybreak and Mark Champion is
Speaker 1: with us now Bloomberg News, Senior reporter for International Affairs.
Speaker 1: As we continue to monitor these uh ceasefire talks just
Speaker 1: now really getting underway in his stand ball between Ukraine
Speaker 1: and Russia. Mark, good morning. Obviously, as I was saying,
Speaker 1: they're just getting underway here. But what were the expectations
Speaker 1: heading into these discussions. Well, it's the first time in
Speaker 1: two weeks, so that's a that's a plus right there.
Speaker 1: But on both sides, they've been sort of talking it
Speaker 1: down a little bit. On the Russian side that said
Speaker 1: there have been no breakthroughs, nothing to really change the game.
Speaker 1: On the Ukrainian side a little bit more optimism, but
Speaker 1: they also have said there's a lot of detail for
Speaker 1: every point that they have in principle agreed, there's a
Speaker 1: lot of detail for each point that hasn't been um.
Speaker 1: And the key issue really is that you've got to
Speaker 1: uh kind of time scales for things to agree. The
Speaker 1: first is on a cease fire, where the Ukrainians say
Speaker 1: that kind of minimum goal is just an improvement humanitarian
Speaker 1: situation to stop the killing essentially, um. And then you
Speaker 1: have a peace settlement, which includes all kinds of things
Speaker 1: like territorial agreements, who owns what? And also you know,
Speaker 1: when do the Russian troops withdraw? All these things make
Speaker 1: for quite a complicated puzzle. Um. So there's a lot
Speaker 1: to get through. Yeah, puzzle that sounds like it would
Speaker 1: take weeks, if not months to get through. But is
Speaker 1: the expectation then that a cease fire would have to
Speaker 1: be in place and holding before they could get to
Speaker 1: those broader discussions about a settlement. Well that's that's the
Speaker 1: hard part. So you know, ideally what Ukraine would like
Speaker 1: is just a cease fire, uh, you know, with no
Speaker 1: attached requirements. But it sounds like there has to be
Speaker 1: some sort of agreement on neutrality where you know, the
Speaker 1: Russians will agree to a cease fire, but we don't
Speaker 1: know exactly when they would agree to pull their troops out.
Speaker 1: But the de cease fire, they're looking for some agreement
Speaker 1: on neutrality. Um Zaniansky says he's open to that. President
Speaker 1: Zelienski of Ukraine says he's open to it, but at
Speaker 1: the same time that, you know, he would need security
Speaker 1: guarantees from Western countries similar to NATO Article five. It's
Speaker 1: you know, that seems rather difficult for Russia to accept,
Speaker 1: which is very opposed to any kind of NATO membership,
Speaker 1: So we kind of ASA's NATO security guarantee would be
Speaker 1: difficult to swallow. Um And also for those countries, it
Speaker 1: would be difficult to know what they are guaranteeing at
Speaker 1: a time when no agreement exists on boorders. Zelienski also
Speaker 1: says there has to be a referendum, which would take
Speaker 1: a year on any of that kind of agreement, So
Speaker 1: you can see the sequencing is quite difficult. Yeah, And
Speaker 1: it sounds as though there may be a little bit
Speaker 1: of contradiction there, or maybe I'm really get wrong with
Speaker 1: the idea that the Ukraine would agree to some kind
Speaker 1: of neutrality while at the same time calling for security
Speaker 1: guarantees along the lines of NATO. How is NATO reacting
Speaker 1: to what Ukraine is looking for here? Well, you know,
Speaker 1: NATO is rather split, um. So you have a group
Speaker 1: of countries, including the UK and most of the Eastern
Speaker 1: European countries, who are extremely skeptical of Russian intentions. They
Speaker 1: see the peace talks as a significant risk there that
Speaker 1: Russia is basically using them to regroup after a difficult
Speaker 1: campaign and doesn't really intend to give anything up in
Speaker 1: terms of its major goals. That on the ground, it
Speaker 1: continues to push for territorial gain um. And there are signs,
Speaker 1: you know, as they try and replace the Ukrainian Rivna
Speaker 1: with the Russian rouble in occupied areas that they you know,
Speaker 1: they're not planning to leave anytime soon. So there's a
Speaker 1: skeptical group, And on the other side there's France, Germany
Speaker 1: and various others who say, look, the first priority here
Speaker 1: is to get seas fire to stop the killing, um,
Speaker 1: and we should be open minded, open ended about what
Speaker 1: it takes to do that. These discussions are expected to
Speaker 1: last today into tomorrow, so we will continue monitoring them
Speaker 1: here on Bloomberg Radio in the meantime. Mark Champion thanks
Speaker 1: for keeping us updated on what's been happening so far.
Speaker 1: Mark Champion is a senior reporter for international affairs for
Speaker 1: Bloomberg News. Looking ahead to the market, open futures are
Speaker 1: moving a touch higher and yields are flattening the curve.
Speaker 1: SMP futures are up twenty two points down futures up
Speaker 1: a hundred fifty four. Nanzac futures are higher by eighty
Speaker 1: eight points. The tenure treasury is down thirteen thirty seconds,
Speaker 1: with the yield two point five zero percent yield on
Speaker 1: the two year two point four two to spread of
Speaker 1: almost eight basis points. Nimex crewd is down six tenths
Speaker 1: per cent, or sixty seven cents at a hundred five
Speaker 1: dollars thirty five cents of barrel comes gold right now
Speaker 1: down one point six percent, down thirty dollars sixty cents
Speaker 1: at nineteen thirty announced. You're listening to Bloomberg Daybreak Bloomberg
Speaker 1: eleven three oh Weather sunny, breezy, the high only near
Speaker 1: forty today, some midday rain. Afternoon rain showers possible tomorrow
Speaker 1: with highs in the mid forties. Could be near seventy
Speaker 1: by Thursday. Right now in Central Park, broadcasting live from
Speaker 1: the Bloomberg Interactive Broker Studio in New York. Bloomberg E
Speaker 1: Living Free on to Washington, d C, Bloomberg ninety nine
Speaker 1: one to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg Nam sixty to the Country, Sirius XM to the
Speaker 1: one nine and around the globe the Bloomberg business in
Speaker 1: Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's five
Speaker 1: thirty on Wall Street. Good morning. I'm Nathan Hagger and
Speaker 1: I'm Keren Moscow, and we're just about four hours away
Speaker 1: from the open of US trading. Let's get you up
Speaker 1: to date in the news you need to know this hour.
Speaker 1: Ukraine is looking for a ceasefire agreement and talk to
Speaker 1: the Russian negotiators. Their meeting right now in Turkey, where
Speaker 1: President er Tawan says he expects quote good news from
Speaker 1: the peace talks. The meantime, Karen, President Biden is clarifying
Speaker 1: his remarks on Vladimir Putin. He says the US is
Speaker 1: not seeking regime change in Russia, but that he still
Speaker 1: has the right to express concern. I was expressing my
Speaker 1: outrage at the behavior of this man. It's outrageous. It's outrageous,
Speaker 1: and it's more an aspiration, and he shouldn't be in power.
Speaker 1: There's no I mean, people like this shouldn't be ruling countries.
Speaker 1: But they do. The fact they do, but doesn't mean
Speaker 1: I can't express my outrage. President Biden is rejecting criticism
Speaker 1: that his comments escalated the situation with Russia. Meantime, Nathan,
Speaker 1: the President's budget is also in focus. He's renewing efforts
Speaker 1: to squeeze more tax revenue from big companies and wealthy households.
Speaker 1: His new budget calls for a two point five trillion
Speaker 1: dollars in tax hikes. Turning into markets now, we have
Speaker 1: several companies making headlines this morning. Let's get the details
Speaker 1: live with Bloomberg's John Tucker. What's watching, John, Nathan, Let's
Speaker 1: start with a change at the top. At fed X,
Speaker 1: the package delivery company is named roj Supermanni and Nance
Speaker 1: it's new CEO. He takes over from founder Fred Smith,
Speaker 1: who pioneered express delivery almost fifty years ago. Up next,
Speaker 1: let's talk Amazon. It's become the first mega cap tech
Speaker 1: stock to erase losses for the year. Shares are now
Speaker 1: up one point four percent since January one, and finally,
Speaker 1: Apple shares their heading for their longest winning streak since
Speaker 1: two thousand three. After a dismal start, too Apples seen
Speaker 1: its earnings hast events being upgraded by analysts. Live in
Speaker 1: New York, I'm John Tucker Bloomberg Daybreak. All right, John,
Speaker 1: thank you. Let's turn to Hong Kong now, where the
Speaker 1: outlook for bankers is looking up. This city has seen
Speaker 1: an next it is of finance staff, but those that
Speaker 1: stayed are getting rewarded. Bloomberg's Reni to Young joins us
Speaker 1: live with the details. Good morning, Ready to Good morning Karen.
Speaker 1: For tech savvy workers willing to live in the somewhat
Speaker 1: selated city, opportunities like big promotions and pay increases are plentiful,
Speaker 1: at least for the short term. Typically, finance workers heading
Speaker 1: to a different company in Hong Kong would get about
Speaker 1: a fifteen percent pay hike, but executive search firm E
Speaker 1: s g I says they're seeing twenty increases. Meantime, data
Speaker 1: show the number of new visas issue to foreign financial
Speaker 1: service workers in Hong Kong is down almost fifty percent
Speaker 1: from Live in New York. I'm gonna need a young
Speaker 1: Bloomberg daybreak. Need to thank you your local headlines to
Speaker 1: check us sports straight ahead. This is Bloomberg, all right.
Speaker 1: Thanks taring it on Wall Street where twenty five degrees
Speaker 1: in Central Park. Still seeing some lingering construction on the
Speaker 1: saw mill. Will get the details in traffic shortly. First
Speaker 1: Michael bar with more on what's going on in New
Speaker 1: York and around the world. Michael, thank you very much. Nathan.
Speaker 1: New York City Mayor Eric Adams is criticizing Florida's so
Speaker 1: called Don't Say Gay bill. Florida Governor Around de Santis
Speaker 1: signed a bill that limits instruction about gender identity and
Speaker 1: sexual orientation in kindergarten through third grade in Florida. We
Speaker 1: will make sure that parents can send their kids to
Speaker 1: school to get an education, not an indoctrination, critics say
Speaker 1: will further marginalize those in the LGBTQ community. Mayor Adams
Speaker 1: called the bill hateful and harmful, saying to the families
Speaker 1: living in fear of this state sponsored discrimination, You're welcome
Speaker 1: in New York City. Our arms and hearts are wide open,
Speaker 1: embracing every child of every identity. Always. The House Committee
Speaker 1: investigating last year's attack on the US Capitol has voted
Speaker 1: unanimously to hold two ages to former President Donald Trump
Speaker 1: in contempt of Congress. Trade Advisor Peter Navarro and communications
Speaker 1: aide Dan Scabino have refused for months to comply with
Speaker 1: subpoenas it comes. As U S District Judge David Carter
Speaker 1: ruled based on the evidence, the court finds it is
Speaker 1: more likely than not that President Trump corruptly attempt to
Speaker 1: obstruct the Joint Session of Congress. On January six, during
Speaker 1: the contempt hearing, Committee chair Benny Thompson said the judge's
Speaker 1: ruling is victory for the rule of law. I encourage
Speaker 1: people at home to read what Judge Carter wrote and
Speaker 1: consider his words very carefully. His warnings about the ongoing
Speaker 1: threat to American democracy shield alarm every person in this country.
Speaker 1: The panel's resolution now goes to the House approval, there
Speaker 1: would send the charges to the Justice Department. There has
Speaker 1: been an apology after Will Smith slapped Chris Rock at
Speaker 1: the Academy Awards Sunday. Smith issued a personal apology to Rock.
Speaker 1: Smith could face disciplinary action by the Motion Picture Academy.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than twenty seven hundred
Speaker 1: journalists and analyst more than a hundred twenty countries. Michael Barron,
Speaker 1: this is Bloomberg. Nathan Okay, Michael, Thanks Ball Street time
Speaker 1: for the Bloomberg Sports Update. Just just John Stenshow Thanks Kaan.
Speaker 1: The Knicks playoff folks for I mean, slim the damage
Speaker 1: done with that mid season stretch when they lost seventeen
Speaker 1: out of twenty. But to their credit, Nick's not going
Speaker 1: down without a fight. Just had a three and oh
Speaker 1: road trip, came home, came from twelve down, beat Chicango
Speaker 1: one oh nine, one oh four, r J Barrett twenty
Speaker 1: eight points. Fight. So that's it's not an option for us.
Speaker 1: We're fighting no matter what. We're a very good team
Speaker 1: and uh, you know, we've been disappointed with how we
Speaker 1: started the season, but we're a very good team when
Speaker 1: we're pulling out these wins and we're scratching and klawn
Speaker 1: and playing very well. All burks at a twenty seven
Speaker 1: second straight game where Burke's hit the big three down
Speaker 1: the stretch of the night where Julius Randall only made
Speaker 1: one shot his backup Obi Topp and scored seventeen points.
Speaker 1: Slumping Warriors missing Steph Curry blown out in Memphis. Golden
Speaker 1: States lost six of seven n C Double A women's
Speaker 1: final four will have three one scenes Stanford, South Carolina
Speaker 1: and Louisville plus Yukon who had a down season by
Speaker 1: their standards with five losses, but Huskies beat top seed
Speaker 1: NC State double overtime, and now after a fourteenth final
Speaker 1: four in a row, you kind of have a big
Speaker 1: home court advantage getting to play the game in Bridgeport.
Speaker 1: NFL owners meeting in Florida, facing criticism for lack of
Speaker 1: minority head coaches and announcing the change in hiring practices
Speaker 1: and so often teams look to hire coaches whose background
Speaker 1: is on offense. Every team will now have to have
Speaker 1: a minority on its staff that works with the offense,
Speaker 1: and the rooty rule that demands interviews with minority candidates
Speaker 1: has been expanded to have include female candidates. John Stashward
Speaker 1: Bloomberg Sports Nathan thanks shun by thirty seven on Wall
Speaker 1: Street Time for the Tri State Business Report. Here's Bloomberg's
Speaker 1: dead cory. A forty million dollar gift from Citadel's Ken
Speaker 1: Griffin is helping the American Museum of Natural History complete
Speaker 1: a two hundred thirty thousand square foot center. The donation
Speaker 1: is part of the three hundred forty million race so
Speaker 1: far for the Richard Gilder Center for Science, Education and Innovation.
Speaker 1: New York cut offer the world's first cannabis uni bonds
Speaker 1: or a fund named after Harlem's hash lounges from the twenties.
Speaker 1: Those are ideas being pitched to promote diversity among the
Speaker 1: initial owners of New York marijuana dispensaries. Now the state
Speaker 1: wants to encourage social equity applicants to start up the
Speaker 1: cannabis outlets. Well, there's a slight gender pay gap for
Speaker 1: men under thirty in New York City. Nationally, women in
Speaker 1: that age group earned about three cents on the dollar
Speaker 1: compared to men. According to the Pew Research Center, the
Speaker 1: gender gap in favor of women under thirty in New
Speaker 1: York is slim. They make one two percent of what
Speaker 1: their male peers earned. Thatrew Bloomberg trying State Business Report.
Speaker 1: I'm Ed Corey. Thank you Ed. It's thirty eight on
Speaker 1: Wall Street. Bloomberg Radio is on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. I've Stein's potents on ten ten Wins
Speaker 1: in New York. We're talking about a passenger flight from
Speaker 1: JFK to Hong Kong that'll be the world's longest. In
Speaker 1: an effort to avoid Russian skies. M Corney Donahean carel
Speaker 1: D in Dallas Southwest agrees to give racist to customer
Speaker 1: service agents Time Gina Servetti And for w BBM in Chicago,
Speaker 1: I'm reporting that Citadel's Ken Griffin is donating forty million
Speaker 1: dollars to New York's American Museum of Natural History. I
Speaker 1: made Corey on w t A M in Cleveland. I'm
Speaker 1: reporting the store, known from making big investments in neighborhoods
Speaker 1: around this city in recent years, is closing. Those are
Speaker 1: some of the stories are twenty seven hundred Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This editorial was written by
Speaker 1: the Bloomberg Editorial Board. The US is facing a retirement crisis.
Speaker 1: About half of working age households won't have enough resources
Speaker 1: to live comfortably after they leave the workforce. That's a
Speaker 1: looming disaster for them and a fiscal mess in the making.
Speaker 1: After all, the more people reach retirement without enough money,
Speaker 1: the more they'll depend on the social safety net. By
Speaker 1: twenty thirty, seniors will require and added seven billion dollars
Speaker 1: in annual public assistance in New Jersey alone. That's almost
Speaker 1: a fifth of the current state budget, and the situation
Speaker 1: in other states will likely be worse. This week, the
Speaker 1: House is expected to consider legislation expanding automatic enrollment in
Speaker 1: employee retirement plans. That's a welcome start, but more is
Speaker 1: still needed. Above all, policymakers must be thinking seriously about
Speaker 1: how to get Americans to save more for their golden years.
Speaker 1: This editorial was written by the Bloomberg Editorial Board. For
Speaker 1: more Bloomberg opinion, please go to Bloomberg dot com, slash
Speaker 1: opinion or ope I N go on the Bloomberg terminal.
Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials
Speaker 1: every week at this time. Terminal customers can read more
Speaker 1: at op I N go as BE futures are up
Speaker 1: twenty three points. That's a game of a half percent down.
Speaker 1: Future is up a hundred fifty two. NASTAC futures are
Speaker 1: higher by eighty nine points. The tenure Treasury is down
Speaker 1: thirteen thirty seconds. The yield two point five zero percent
Speaker 1: yeld on the two year two point four three. You're
Speaker 1: listening to Bloomberg Daybreak Bloomberg eleven three oh weather, sunshine
Speaker 1: and a breeze today with the high only near forty.
Speaker 1: We'll get to the mid forties tomorrow with showers. Might
Speaker 1: see a few more afternoon showers on Thursday as well,
Speaker 1: with a high near seventy. Right now, markets, headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business at and at Bloomberg Quick Tape. He's
Speaker 1: a Bloomberg Business Flash find I'm Karen Moscow stalks on
Speaker 1: the rise and ceasefire talks between Russia and Ukraine helped
Speaker 1: to fuel risk appetite. You Stock index Future is also
Speaker 1: gaining after benchmark indexes rose for a third session yesterday.
Speaker 1: We checked the markets every fifteen minutes throughout the trading
Speaker 1: day on Bloomberg U S and P future is up
Speaker 1: twenty one points down. Futures have a hundred thirty nine
Speaker 1: NAS day future is up eighty eight The decks in
Speaker 1: Germany's up to percent ten year treasury down thirteen thirty
Speaker 1: seconds yea two point five zero percent. The yield on
Speaker 1: the two year two point four three percent. I X
Speaker 1: screwed oil is up a quarter percent, or twenty nine
Speaker 1: cents and a hundred six dollars twenty four cents of
Speaker 1: barrel COMEX school down one and a half percent, down
Speaker 1: twenty nine dollars twenty cents at nineteen fifteen sixty announced
Speaker 1: the euro one point one zero four two against the dollar,
Speaker 1: British pound one point three zero nine five and the
Speaker 1: unit one twenty three point seven two had Bitcoin this
Speaker 1: morning moving lower, down about seven ten percent at forty
Speaker 1: seven thousand, six hundred fifty dollars. That's a Bloomberg business flash.
Speaker 1: Now here's Michael Barr with more on what's going on
Speaker 1: around the world. Michael Karen, thank you very much. Russian
Speaker 1: and Ukraine have started peace talks in his tent old
Speaker 1: in Mariupal Alone. Russia's siege of the southern city has
Speaker 1: killed almost five thousand people, according to the city's mayor.
Speaker 1: President Joe Biden said he was an announcing the US
Speaker 1: policy change when he declared Russian President Vladimir Putin cannot
Speaker 1: remain in power, but was expressing his own anger about
Speaker 1: the invasion of Ukraine. Biden's old reporters, I am not
Speaker 1: walking anything back. The fact of the matter is I
Speaker 1: was expressing the moral outrage I felt. In the NBA.
Speaker 1: The next one, the Celtics and Warriors lost. Yukon is
Speaker 1: heading back to the Women's n C Double A Final
Speaker 1: four for the fourteenth straight time. The Huskies beat North
Speaker 1: Carolina State seven and a double overtime thriller. Yukon will
Speaker 1: face Stanford. Louisville is also in. They'll face South Carolina
Speaker 1: in the NHL. The Capital's Lost. Global News twenty four
Speaker 1: hours a day on air and on Bloomberg Quick Take,
Speaker 1: powered by more than seven hundred journalists and analysts more
Speaker 1: than a hundred twenty countries. Michael Barr, this is Bloomberg.
Speaker 1: Nathan Okay, Michael, thank you. It's five forty nine on
Speaker 1: Wall Street Live from the Bloomberg Interactive Brokers Studios. This
Speaker 1: is Bloomberg Daybreak and We're joined now by Bloomberg Washington
Speaker 1: correspondent Joe Matthew, host of Sound On Here on Bloomberg Radio.
Speaker 1: As we continue to assess the fallout, the continuing fallout,
Speaker 1: it seems from President Biden's remarks in Warsaw over the weekend.
Speaker 1: As we just heard from Michael in the news there, Joe,
Speaker 1: the President is not walking anything back, he says, is
Speaker 1: he cleaning up the clean up? Well, I guess, you know,
Speaker 1: cleaning up as opposed to walking back. Maybe in Washington
Speaker 1: there's there's there's some truth in the middle of those
Speaker 1: two things. The fact of the matter is Joe Biden
Speaker 1: called the only hours earlier, called Vladimir Putin on Saturday
Speaker 1: a butcher, has called him a war criminal. Last week,
Speaker 1: he's called him a pariah. So when you really consider
Speaker 1: what was said at the podium on Saturday night, while
Speaker 1: it got a lot of people worked up, it really
Speaker 1: didn't change anything. It wasn't a new opinion that the
Speaker 1: president was forming. It just seemed to get people worked
Speaker 1: up about the idea of regime change, and he did
Speaker 1: clean up that part of the remark yesterday. I will
Speaker 1: note that this was a news conference. If I can
Speaker 1: even call it that it was supposed to be a
Speaker 1: speech rolling out the new budget proposal. Reporters had nothing
Speaker 1: but questions about this and that's the problem. Yeah, And
Speaker 1: I guess that's no surprise here given the fallout that
Speaker 1: we're seeing as talks are now underway between Russian and
Speaker 1: Ukrainian negotiators once again and NATO watching from the sidelines.
Speaker 1: Through the president's comments complicate what's happening as far as
Speaker 1: diplomacy goes to try to end this war. Well, if
Speaker 1: you have, if you ask Emmanuel Mcrone of France, he'd
Speaker 1: say yes, he was concerned about the butcher remark that
Speaker 1: I mentioned, along with the comments the nine words as
Speaker 1: they've become known, uh from Saturday night. But the fact
Speaker 1: of the matter is expectations are pretty low for these
Speaker 1: talks and when you when you consider the nine words
Speaker 1: that the President said in that speech, again, they don't
Speaker 1: really advance the ball from what has already been said.
Speaker 1: If you believe that Vladimir Putin is a war criminal,
Speaker 1: this administration says that it does, then that is entirely
Speaker 1: consist didn't with believing that that person doesn't deserve to
Speaker 1: run their own country. It doesn't mean, however, that America
Speaker 1: is going to go in and knock him out. That's
Speaker 1: that's the one thing the President had to make clear.
Speaker 1: So where does diplomacy go from here? Joe? Has there
Speaker 1: been any reach out between the US and Russia when
Speaker 1: it comes to what the President had to say, No,
Speaker 1: I don't think so, not at least not on a
Speaker 1: political level. We do have a deconfliction line that apparently
Speaker 1: we are testing on a daily basis between the US
Speaker 1: and Russian military. Is just for the sake of communications,
Speaker 1: to avoid an accident, that type of thing. But the
Speaker 1: President was asked yesterday repeatedly if he would be open
Speaker 1: to to meeting with Vladimir Putin, and his only answer
Speaker 1: each time around was it depends. It depends what you know.
Speaker 1: What is it that we would get? What is it
Speaker 1: that he would be asking at some point if we're
Speaker 1: gonna have a ceasefire here, someone's gonna need to talk
Speaker 1: to Vladimir Putin. Whether it's Joe Biden is another question.
Speaker 1: To go back to your earlier point about all the
Speaker 1: questions being about Russia as opposed to the budget release.
Speaker 1: Let's talk about the budget. Obviously, a lot of attention
Speaker 1: on these new tax proposals for the wealthy, and it
Speaker 1: seems as though they're already getting some pretty important pushback. Yeah. Well,
Speaker 1: you know that the gentleman from West Virginia is always
Speaker 1: there when you need him, unless your name is Joe Biden.
Speaker 1: I guess, uh, you cannot grow fascinating quote. You can't
Speaker 1: be taxed on things you don't have, said Joe Manchion.
Speaker 1: This is referring to this idea of taxing unrealized games.
Speaker 1: It's uh, it's a five point eight billion dollar, trillion
Speaker 1: dollar budget, I should say, and part of this involves
Speaker 1: a drop in deficit spending. The White House is trying
Speaker 1: to show fiscal responsibility with a trillion dollars over ten
Speaker 1: years in deficit reduction. But to achieve that, you need
Speaker 1: this billionaire's tax, if I can call it that, at
Speaker 1: twenty minimum tax on income and unrealized games for households
Speaker 1: worth a hundred billion dollars or more. This is gonna
Speaker 1: sound familiar to you, Nathan. We talked about it back
Speaker 1: when this was a component, or at least proposed to
Speaker 1: be part of the Build Back Better legislation last year,
Speaker 1: and of course that did not pass the chair of
Speaker 1: the House Ways and Means Committee, Richard Neil apparently is
Speaker 1: not in favor of this. Kirston Cinema is not about
Speaker 1: to vote for it, so it's unlikely that this goes anywhere.
Speaker 1: Bloomberg's Joe Matthew, our Washington correspondent, host of Sound On
Speaker 1: here on Bloomberg Radio. Of course, we'll have much more
Speaker 1: on sound On coming up this afternoon five pm, Wall
Speaker 1: Street Time on Bloomberg Radio, and we'll be checking back
Speaker 1: with Joe later on in this program Bloomberg Day Break
Speaker 1: later on Karen. All right, Nathan is three on Wall Street.
Speaker 1: It's time for the Bloomberg Law Report. Let's get to
Speaker 1: the legal stories we are watching this morning. From Bloomberg's
Speaker 1: Jeff Bellinger, the Postal Service has evaded claims that it's
Speaker 1: use of facial recognition software without a privacy impact assessment
Speaker 1: violated the federal law. Ralph Lauren will have to face
Speaker 1: biometric privacy claims brought by an employee who says the
Speaker 1: practice of requiring workers to clock in and doubt with
Speaker 1: their finger prints violates the Illinois Biometric Information privacy and
Speaker 1: the Coca Cola company officially walked away from race based
Speaker 1: staffing requirements for law firms doing work for the company
Speaker 1: Bloomberg Law. Everything you need, all on one legal research platform,
Speaker 1: including guidance and analysis and Bloomberg Market Intelligence. Find out
Speaker 1: more at Bloomberg Law dot com. All right, Jeff, thank
Speaker 1: you now. Another legal story we're watching brings us to
Speaker 1: vaccination requirements in the military. I divided Supreme Court said
Speaker 1: the Navy can limit deployment and training for thirty five
Speaker 1: seals and other special operations forces who are refusing to
Speaker 1: get vaccinated against COVID nineteen. They cite religious grounds. A
Speaker 1: lower court judge had ordered the Navy to deploy sailors
Speaker 1: without regard to their vaccination status, but the White House
Speaker 1: said that would jeopardize safety and mission success given that
Speaker 1: seals often operate in tight quarters. The Court granted the
Speaker 1: Boden administration's emergency request with three conservative justices is senting
Speaker 1: for more in the case. Bloomberge during Grass speaks to
Speaker 1: Dorit Reece, a professor at the University of California Hastings
Speaker 1: College of Law. There was no opinion for the court.
Speaker 1: Does the concurring opinion of Justice Brett Kavanagh tell us
Speaker 1: anything he actually does. First of all, it's very usual
Speaker 1: not to have a fully reasoned opinion on this kind
Speaker 1: of emergency state cases. As a reminder, the case hasn't
Speaker 1: been fully briefed or decided, and the question is should
Speaker 1: we uphold or overturn an emergency state? The concurrence tells
Speaker 1: us that for at least some of the justices the
Speaker 1: main issue was how much difference to give to the
Speaker 1: Navy decisions through the deploy The court has a long
Speaker 1: tradition of deferring to the Navy judgment in the military's judgment,
Speaker 1: as the Justice Cavano highlighted, and at least for some
Speaker 1: of the this is that's probably the issue here as well.
Speaker 1: A Secretary of Defense, Lloyd Austin, had urged the court
Speaker 1: to remedy what he called an extraordinary and unprecedented intrusion
Speaker 1: into core military hairs that has no precedent in American history.
Speaker 1: Is this basically about the principle of separation of powers? Yes.
Speaker 1: I will add that there are some things in the
Speaker 1: descent that do race questions. So the military acknowledges that
Speaker 1: there are subjects to the Religious Freedom Restoration Act requirements
Speaker 1: of only not respecting religious interests when it's a compelling
Speaker 1: interest in the list restrictive means, they still to have
Speaker 1: made it practically impossible to get a religious exemption and
Speaker 1: justice a little is right within any other context that
Speaker 1: would be seen as a problem as bad space application
Speaker 1: of religious exemption. And here too, by doing it so aggressively,
Speaker 1: the military created an appearance of not really taking seriously
Speaker 1: the religious exemptions, and as doored Race, a professor at
Speaker 1: the University of California Hastings College of Laws, making at
Speaker 1: the Bloomberg's doing Groszo. Catch more of that interview, plus
Speaker 1: analysis of the latest legal news, by subscribing to the
Speaker 1: Bloomberg Podcast or downloading the show at Bloomberg dot com
Speaker 1: slash podcast. Attorneys can find exceptional legal research and business
Speaker 1: development tools at Bloomberg Law dot com and on the
Speaker 1: Bloomberg terminal at b Law. Go again. Futures this morning
Speaker 1: are on the rise, SMP futures are up twenty points
Speaker 1: down futures of one forty five and NASDAC future is
Speaker 1: up sixty eight. Ten year treasury down fourteen thirty seconds
Speaker 1: yield two point five one per cent, and they yield
Speaker 1: on the two year two point for three percent Nimex
Speaker 1: screwed oil is up to ten per cent er nineteen
Speaker 1: cents and a hundred six dollars seventeen cents in barrel,
Speaker 1: and it's still ahead. On Bloomberg day Break, we have
Speaker 1: a check on the business headlines and all the news
Speaker 1: you need to start your day. And this is Bloomberg.