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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with new developments on those deadly wildfires

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Speaker 3: still burning in the Los Angeles area. Bloomberg's John Tucker

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Speaker 3: joins us now with the very latest.

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Speaker 4: John, Nathan, the Los Angeles County Medical exam at are

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Speaker 4: overnight now confirms ten people have died in the fires.

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Speaker 4: This resident of Pacific Palisades echoed the harsh reality.

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Speaker 3: Pacific Palisades right now could just be taken off the map.

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Speaker 3: It's there is no Pacific Palisades.

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Speaker 4: And finally a measure of good news, the Pacific Palisades

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Speaker 4: fire showing early signs of control. The Kenneth fire that

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Speaker 4: broke out and expanded rapidly north of the one oh

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Speaker 4: one Freeway is thirty five percent contained. But with that

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Speaker 4: comes news of a new blaze in the far west

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Speaker 4: section of the city. La Mayor Karen Bass.

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Speaker 5: We are expecting this fire who rapidly spread due to

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Speaker 5: high winds.

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Speaker 4: President Elect Trump couldn't resist the urge to weigh in,

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Speaker 4: taking aim at the governor and the mayor.

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Speaker 6: I think that Gavin is largely incompetent, and I think

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Speaker 6: the mayor is largely incompetent, and probably both of them

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Speaker 6: are just stone cold and competent.

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Speaker 7: What they've done is terrible.

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Speaker 4: The fires have scorched more than thirty thousand acres, They've

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Speaker 4: raised homes and businesses, and forced about one hundred and

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Speaker 4: eighty thousand residents to flee. The economic losses have been

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Speaker 4: estimated up to one hundred and fifty billion dollars, which

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Speaker 4: would rank among the costliest natural disasters in modern US history.

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Speaker 4: I'm John Tucker, Bloomberg Radio.

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Speaker 2: All right, John, thank you. Well, another story we're following

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Speaker 2: this morning. In just hours from now, President elect Donald

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Speaker 2: Trump will be sentenced for his conviction in the New

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Speaker 2: York hush money criminal case. This comes after the Supreme

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Speaker 2: Court refused to interfere. Bloomberg Law anchor June Grosso says

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Speaker 2: Trump will not be sentenced to any time behind bars.

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Speaker 8: Judge murshawan and lot of people when he first came

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Speaker 8: out and said I'm not going to give him any sentence,

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Speaker 8: said well, what's the point of the sentencing? Then, well,

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Speaker 8: the point is that now Trump couldn't say that, Oh,

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Speaker 8: the judge may sentence me to time, or the judge

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Speaker 8: may sentence me to probation, or who knows what. Because

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Speaker 8: the judge had said, I'm not going to sentence you

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Speaker 8: to anything. I'm going to give you what's called an

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Speaker 8: unconditional discharge. And basically what this is is a symbolic sentencing,

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Speaker 8: so that Trump is now, yes, a convicted felon, and

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Speaker 8: that felony is on the books in New York.

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Speaker 2: Bloomberg law Houster in Grosso says Trump can still appeal

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Speaker 2: the verdict in New York state courts, and the case

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Speaker 2: could ultimately return to the US Supreme Court for final resolution.

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Speaker 3: Well Karen, Attorney General Mayrick Garland is racing to release

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Speaker 3: special counsel Jack Smith's report on Trump's effort to overturn

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Speaker 3: the twenty twenty election, but a federal appeals court has

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Speaker 3: left that in limbo. The court rejected requests from Trump

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Speaker 3: and his former co defendants to stop the report from

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Speaker 3: becoming public, but the court also ruled that if the

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Speaker 3: Justice Department wants to release it sooner, it has to

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Speaker 3: challenge a lower court ruling that delayed the release by

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Speaker 3: another three days. DOJ lawyers filed that challenge after our

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Speaker 3: hours after the Appeals Court decision, Trump's associates could also

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Speaker 3: appeal this ruling or ask the Supreme Court to step in.

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Speaker 2: Well, Nathan, it's now just ten days until Donald Trump

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Speaker 2: takes the oath of office for a second time, and

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Speaker 2: he's promised a flurry of actions on day one. Now

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Speaker 2: we're getting the details on what he's got planned, and

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Speaker 2: we get that story with Bloomberg's Jeff Billinger.

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Speaker 9: Trump is planning executive orders on immigration, energy, federal workers,

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Speaker 9: and regulatory reform in his first few hours in office.

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Speaker 9: Bloomberg News has learned. The immigration orders include tighter restrictions

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Speaker 9: on border crossings, a mandate to finish unbuilt portions of

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Speaker 9: the border wall, a framework for carrying out mass deportations,

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Speaker 9: and in order to withhold federal resources from sanctuary cities.

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Speaker 9: The President elect is also planning a federal hiring freeze

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Speaker 9: and a return to officeman date for federal wars. And

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Speaker 9: on energy, Trump is expected to authorize drilling on federal lands.

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Speaker 9: Jeff Bollinger, Bloomberg Radio.

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Speaker 7: Okay, Jeff, thank you.

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Speaker 3: President elect Trump says he's planning to meet with Russian

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Speaker 3: President Vladimir Putin.

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Speaker 7: After he takes office.

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Speaker 3: At a meeting with Republican governors at mar A Lago,

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Speaker 3: Trump told a reporter that the Russian leader wants to

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Speaker 3: meet and they are setting it up.

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Speaker 7: We get more from Bloomberg's John Hirskovitz.

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Speaker 5: Trump said that if a meeting were to come, it

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Speaker 5: would come after the inauguration. There's no set date, no

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Speaker 5: set time, just this announcement that he's looking to have

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Speaker 5: the meeting.

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Speaker 3: Bloomberg's John Herskovitz reports the Kremlin says there are no

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Speaker 3: specifics on a meeting, but Putin has repeatedly stated that

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Speaker 3: he is open to talking with President elect Trump.

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Speaker 2: Well Nathan A confirmation hearing is set for one of

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Speaker 2: Donald Trump's key appointments Todays before he takes office. Scott Bessen,

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Speaker 2: Trump's nominee for a Treasury secretary, will appear before the

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Speaker 2: Senate Finance Committee next Thursday.

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Speaker 3: Think Karen, the current president, is getting slammed by one

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Speaker 3: of the world's most v companies, and Nvidia is criticizing

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Speaker 3: new chip export restrictions expected to be announced soon by

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Speaker 3: the Biden administration. The company says the White House is

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Speaker 3: trying to undercut the incoming administration by imposing last minute rules.

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Speaker 7: The ar Darling says those.

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Speaker 3: New rules will harm the US economy and do nothing

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Speaker 3: to promote national security. In the pre market, shares of

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Speaker 3: Nvidia are down more than one percent.

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Speaker 2: Well, let's turn to the markets now, Nathan and Wall

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Speaker 2: Street gets back to work with a huge economic report

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Speaker 2: on the agenda. We get the December jobs report later

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Speaker 2: this morning, and here's a preview with Bloomberg's Michael McKee.

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Speaker 10: The number of jobs created in December will be a

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Speaker 10: surprise for someone. The range of forecasts is unusually wide,

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Speaker 10: from one hundred twenty thousand to two hundred and sixty

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Speaker 10: eight thousand, reflecting differing views of the state of the

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Speaker 10: labor market. Something near the low end would be the

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Speaker 10: only thing to bother FED officials. However, minutes of their

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Speaker 10: last meeting released this week made it clear they feel

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Speaker 10: labor markets remain in good shape. The unemployment rate matters

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Speaker 10: or to the central bankers, any big rise could be

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Speaker 10: seen as a reason to reconsider this suggestion. They will

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Speaker 10: pause rate cuts this month. Michael McKee Bloomberg Radio.

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Speaker 3: Mike, thank you, and for those employed on Wall Street,

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Speaker 3: it could be a big bonus season. According to people

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Speaker 3: briefed on the plans. Executives at top investment banks are

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Speaker 3: planning to award traders and deal makers with their largest

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Speaker 3: bonus increases since the pandemic. Ten percent hikes are more

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Speaker 3: expected at many desks. The bonus increases reflect an upturn

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Speaker 3: in business and optimism for the year ahead, and are

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Speaker 3: intended to help retain employees in a competitive industry.

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Speaker 2: And it's time now for look at some of the

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Speaker 2: other stories making news in New York and around the world.

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Speaker 2: And for that we're joined by Bloomberg's Michael Barr.

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Speaker 7: Michael, good Morning, Good morning Karen.

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Speaker 11: Former President Jimmy Carter was interred alongside his late wife

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Speaker 11: Rosland Carter in Plains, Georgia, the same town where they

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Speaker 11: were born, lived most of their lives, and died yesterday.

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Speaker 11: Carner was hornored with dual funerals. His afternoon funeral and

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Speaker 11: Plains was a small affair limited to family, friends and

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Speaker 11: members of Marinatha Baptist Church. Carter's personal pastor, Tony Loden,

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Speaker 11: said the former president dedicated his life to service.

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Speaker 12: His covenant to spread joy is a testament to his character.

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Speaker 12: In his leadership, he advocated for justice, fairness and equality

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Speaker 12: for all people, regardless of race, creed, or gender in

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Speaker 12: America all around the world.

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Speaker 11: Earlier Thursday, President Joe Biden eulogized the thirty ninth president

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Speaker 11: at Carter state funeral in Washington.

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Speaker 6: I miss him, but I take solace and knowing and

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Speaker 6: he is beloved.

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Speaker 7: Rosland are reunited again.

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Speaker 11: Jimmy Carter died December twenty ninth at age one hundred.

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Speaker 11: A man who fled to avoid serving a nine month

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Speaker 11: prison sentence for storming the US Capitol on January sixth

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Speaker 11: has been arrested in Canada. Anthony Voe from Bloomington, Indiana,

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Speaker 11: was arrested in Whistler, British Columbia. He skipped out on

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Speaker 11: a court order to report last June for his nine

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Speaker 11: month prison stint. Another blast of winter storms is closing schools,

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Speaker 11: snarling flights, and putting millions of residents on alert across

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Speaker 11: parts of the Deep South and south central US. Heavy

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Speaker 11: snowfall and icy conditions are likely today in Mississippi, Georgia, Kentucky,

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Speaker 11: and Tennessee. New York Mayor Eric Adams says the city

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Speaker 11: plans to create one hundred thousand new housing units and

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Speaker 11: invest six hundred and fifty million dollars to address homelessness

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Speaker 11: and mental health issues. Adams made the announcement during his

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Speaker 11: fourth State of the City address at the Apollo Theater

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Speaker 11: in Harlem.

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Speaker 13: When we came into office, we said the days of

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Speaker 13: letting people language on our streets as subways were over.

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Speaker 13: It was not safe, it was not humane, and it

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Speaker 13: was not going to continue under our launch.

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Speaker 11: Mayor Adams also proposed an expansion of programs involving youth mentorship,

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Speaker 11: career readiness, and college preparation. Global news twenty four hours

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Speaker 11: a day and whenever you wanted with the Bloomberg News.

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Speaker 11: Now Michael Barr, and this is Bloomberg.

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Speaker 2: Karen, Sorry, Michael Barr, thank you time now for the

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Speaker 2: Bloomberg Sports Update, brought to you by Tri State Outie.

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Speaker 2: Here is John Stanshawer.

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Speaker 14: John, Good morning, Good morning care And there are a

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Speaker 14: lot of one sided games through the first two rounds

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Speaker 14: of the expanded college football left. Not the case in Miami's.

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Speaker 14: The semifinals began with the orange ball. Penn State had

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Speaker 14: a ten to nothing lead. Notre Dames toward the next

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Speaker 14: seventeen had two long second half touchdown drives Nicholas Singleton

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Speaker 14: scored three times for Penn State, twice at a two

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Speaker 14: and a half minute span of the fourth quarter to

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Speaker 14: retake the lead, and then a long bean time strike

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Speaker 14: by Notre Dame.

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Speaker 1: To go second down at eight ten.

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Speaker 7: State leads by a touchdown letter thrill.

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Speaker 12: Food open Charin and glide us a fine a Jarlin,

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Speaker 12: red of Stars set State.

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Speaker 14: Si yes being the ball, and then after an interception

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Speaker 14: Mitche send Notre Dame into the championship game of the

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Speaker 14: forty one yard field goal second seven seconds left. The

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Speaker 14: Irish won twenty seven to twenty four. The second semifinal

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Speaker 14: game is tonight in Dallas, Texas and Ohio State. The

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Speaker 14: NFL has moved Monday's playoff game between the Rams and

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Speaker 14: Vikings out of Los Angeles. It'll be played in Phoenix.

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Speaker 14: Rams coach Saan McVay spoke yesterday in.

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Speaker 15: La those deals that almost doesn't feel real, but it

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Speaker 15: certainly is real to the people that are affected, and

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Speaker 15: you know, praying, you know that as many people are okay,

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Speaker 15: and you know, you just see the amount of people

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Speaker 15: that are affected in it's you know, it's one of

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Speaker 15: those deals that you know, it gives you perspective.

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Speaker 14: Chargers had their final practice in LA before going to

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Speaker 14: Houston for tomorrow's playoff game. Joey Bosa lives near an

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Speaker 14: evacuation area, said he hopes he still has his house

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Speaker 14: when he gets back. Lakers home game with Charlotte postpone.

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Speaker 14: Lakers coach JJ Reddick lives in Palisades. His home has

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Speaker 14: been lost, same with the home that Golden State coach

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Speaker 14: Steve Kirk grew up in. His ninety year old mother

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Speaker 14: had to be evacuated at the Garden Range. With the

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Speaker 14: Devil's three two Sam Carrick goll midway through overtime, Islanders

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Speaker 14: a four nothing win in Vegas. Rutgers lost at home

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Speaker 14: to Produce sixty eight to fifty. Nick Hos to Oklahoma

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Speaker 14: City tonight, the Thunder lead the West at thirty and six.

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Speaker 7: John Stanshy I learned Bloomberg Sports Tarny eating.

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Speaker 1: Coast to Coast on Bloomberg Radio, nationwide, on Sirius Exam,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 7: Good morning. I'm Nathan Hager.

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Speaker 3: Both President dele Like Donald Trump and the Biden administration

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Speaker 3: have taken legal hits. With less than two weeks before

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Speaker 3: Trump returns to the White House. The Supreme Court is

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Speaker 3: refusing to delay this morning sentencing in Trump's New York

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Speaker 3: hush money conviction, and an appeals court is keeping the

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Speaker 3: release of special counsel Jack Smith's report on Trump in limbo. Now,

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Speaker 3: when it comes to the Supreme Court case, the President

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Speaker 3: delect says he's okay with the decision.

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Speaker 6: I respect the court's opinion. It was a I think

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Speaker 6: it was actually a very good opinion for us because

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Speaker 6: you saw what they said. But they invited the appeal,

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Speaker 6: and the appeal is the bigger issue.

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Speaker 3: President Elect Trump spoke there with the reporter at mar Lago.

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Speaker 3: Joining us this morning is Terry Haines, the founder of Pangaeopolicy.

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Speaker 3: Great to speak with you again this morning, Terry. And

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Speaker 3: that bigger issue that the President elect is talking about

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Speaker 3: is the issue of presidential immunity and whether it applies

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Speaker 3: to a president elect. So could we see this case

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Speaker 3: continue even after this morning sentencing?

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Speaker 16: Good morning, good morning data. Yeah, we could probably see

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Speaker 16: it continue in the sense that you know, these things

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Speaker 16: are like the walking dead, and it seems to never

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Speaker 16: go away. But they were, I to be advising the

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Speaker 16: president elect, I would not advise him to get to

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Speaker 16: be too optimistic about this. You know, the the court's

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Speaker 16: points were really twofold. First is the issues can be

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Speaker 16: handled in the regular appeals process, and secondly that the

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Speaker 16: sentencing today won't be a burden on the president elect

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Speaker 16: in any way. Those are both true. The broader issue, though,

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Speaker 16: as far as immunity goes, is the presidential immunity goes,

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Speaker 16: I think does not end up in Trump's favor. Whatever

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Speaker 16: else this is, it's not presidential conduct. Presidential immunity. The

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Speaker 16: courts drew a fairly tight reign around the issue of

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Speaker 16: presidential immunity and its recent decision. It is not the

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Speaker 16: open ended immunity. A lot of people like to say

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Speaker 16: politically that it might be. So what's going to end

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Speaker 16: up happening here? I think more likely than not is

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Speaker 16: that the conviction ends up standing because it's whatever else

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Speaker 16: it is, it's that of a private citizen.

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Speaker 3: How much do you expect this issue, the presidential immunity issue,

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Speaker 3: to continue to be a focus for president like Trump

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Speaker 3: once he becomes president in less than two weeks.

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Speaker 7: When we're hearing that he's already.

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Speaker 3: Got a flurry of executive orders planned on a bunch

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Speaker 3: of issues.

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Speaker 16: Well, I think it's you know, I think it's a

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Speaker 16: minor irritant for Trump, and I think the sentencing is

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Speaker 16: a political positive. The unbalanced. Frankly, you had this massive

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Speaker 16: campaign to destroy and harass Trump, bring all kinds of lawsuits,

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Speaker 16: justified or otherwise, and the net result of it looks

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Speaker 16: like the equivalent of a parking ticket, and that'll be

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Speaker 16: uh and that'll be used, I think politically well for

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Speaker 16: Trump and put everybody back on their heels, particularly when

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Speaker 16: you consider it against the backdrop of all the troubles

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Speaker 16: that are going on in New York City, some of

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Speaker 16: which you were just all reporting on the perception of crime,

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Speaker 16: the homeless, subways, and everything else makes the city look

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Speaker 16: like its own priorities are out of whack. On the

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Speaker 16: immigration issues that you know, they're relevant for markets, because

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Speaker 16: there's there's going to be a signal on day one

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Speaker 16: on immigration matters. Are we talking about only targeting criminals,

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Speaker 16: which Trump and his people have been saying for some time.

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Speaker 16: Are we only talking about a subset of people who

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Speaker 16: shouldn't be in the country anyway? Are we talking about

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Speaker 16: some kind of mass deportations the way that the lot

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Speaker 16: of the press likes to talk about this will be

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Speaker 16: relevant for skilled workers, the H one b vs. The issue,

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Speaker 16: and a whole bunch of other things. So markets will

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Speaker 16: be looking at that, I think with some trepidation and

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Speaker 16: react our.

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Speaker 7: Last minute terry.

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Speaker 3: The president ellect also says a meeting is being arranged

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Speaker 3: some time after the inauguration with Russian President Vladimir Putin.

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Speaker 7: How concerned does Ukraine need to be?

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Speaker 16: I don't think Ukraine needs to be concerned. The question

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Speaker 16: is going to be for Ukraine is exactly what Trump's

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Speaker 16: trying to do and whether Ukraine will be involved in

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Speaker 16: the process. And Trump says that they will be that

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Speaker 16: of course they'll be end up being signatorius to whatever

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Speaker 16: deal there is. You know, but I looked at this

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Speaker 16: as a little bit vaporous without disparaging the president elect,

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Speaker 16: you know, the idea that there might be some meeting,

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Speaker 16: of course, has been mooted out there for some time,

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Speaker 16: So continue to tickle that. I think it doesn't really

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Speaker 16: move the ball forward in any way or Today.

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Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

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Speaker 7: And I'm Nathan Hager.

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Speaker 3: Join us again tomorrow morning for all the news you

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