Speaker 1: From the Bloomberg Interactive Burgers Studios. This is Bloomberg day
Speaker 1: Break for Thursday, May eighteenth.
Speaker 2: Coming up today, Debt ceiling talks continue, with potential default
Speaker 2: now just two weeks away.
Speaker 3: President Biden arrived at the g seventh Summit in Japan.
Speaker 4: TikTok is banned in one US state.
Speaker 3: And retail earnings continue with Walmart recording. This morning, there.
Speaker 5: Are conflicting accounts about a Papaanzza car chase involving Prince
Speaker 5: Arey in Manhattan, plus the controversy about where the House
Speaker 5: migrants in New York continues by Michael Barrn.
Speaker 4: More ahead, I'm John stan Stalwin Sports.
Speaker 6: I'll walk off win for the Mets, the walk off
Speaker 6: lost for the Yankees. The Miami Heat won Game one
Speaker 6: from the Celtic.
Speaker 7: That's all straight ahead on Bloomberg day Break, The Business
Speaker 7: news You need to starn your day in just one
Speaker 7: fifteen minute podcast each morning on Apples, Spotify, the Bloomberg
Speaker 7: Business Appen everywhere you get your podcasts.
Speaker 4: Good morning, I'm Nathan Hager.
Speaker 1: And I'm Karen Moscow. Here are the stories we're following today, Karen.
Speaker 2: The US is now two weeks away from a potential
Speaker 2: government default. President Biden is now out of the country,
Speaker 2: with debt ceiling negotiations continuing in Washington. He's expressing confidence
Speaker 2: that a deal will get done in time.
Speaker 8: Every leader in the room understands the consequences.
Speaker 9: Of we failed of Paya bills, and it would be
Speaker 9: catastrophic for the for the.
Speaker 7: American economy and the American people if we didn't pay bills.
Speaker 2: President Biden says he will be in constant contact with
Speaker 2: negotiators while he's away. House Speaker Kevin McCarthy says just
Speaker 2: having a negotiation is a win. They finally backed off
Speaker 2: the insane, unrational, unsensible idea that you just raise the
Speaker 2: debt ceiling. Speaker McCarthy says he too, is hopeful a
Speaker 2: deal can be reached before US default, which could come
Speaker 2: as early as June first.
Speaker 3: Well as negotiations continue.
Speaker 1: Nathan McCarthy is criticizing the president's trip to Japan for
Speaker 1: an international summit. The President arrived at the G seven
Speaker 1: meeting about two hours ago, so Bloomberg. Stephen Angel is
Speaker 1: there and says Russia is likely to be a major topic.
Speaker 10: The National Security Advisor of the US J. Sullivan, says
Speaker 10: the US will likely have a package of sanctions associated
Speaker 10: with the G seven statement, further sanctions on Russia. They're
Speaker 10: trying to close loopholes as well, third party nations, perhaps
Speaker 10: funneling high tech elements to Moscow to help its war
Speaker 10: in Ukraine. We'll also likely to see talk of economic
Speaker 10: and humanitarian support to Ukraine. So it's the G seven.
Speaker 1: There's a lot of unity and Bloomberg Stephen Angel and
Speaker 1: Hiroshima says G seven leaders are also grappling with the
Speaker 1: question of how to tackle China.
Speaker 2: Meantime, Karen China's president shi Jinping, is holding a summit
Speaker 2: of his own. The two day China Central Asia Summit
Speaker 2: will assemble leaders from Kazakhstan, Kirryzstan, Taijikistan, Turkmenistan, and Uzbekistan.
Speaker 2: It is She's way of reminding the G seven of
Speaker 2: China's influence outside the US led world order.
Speaker 1: Well back here in the US, Nathan presidential politics are
Speaker 1: in focus, and there are more signs at Florida Governor
Speaker 1: Ronda Santis is prime to announce a challenge to Donald
Speaker 1: Trump for the Republican nomination.
Speaker 3: We get the details from Bloomberg's Ed Baxter.
Speaker 8: DeSantis has summoned financial backers for a meeting in Miami
Speaker 8: next week. This, of course, is upping the speculation that
Speaker 8: he may officially announce very soon. It is set for
Speaker 8: the twenty fourth next week, and then for political briefing
Speaker 8: the next morning, and then with the tes following the briefing,
Speaker 8: the fun begins. They're encouraged to work with the team
Speaker 8: through the night of the twenty fifth. DeSantis will have
Speaker 8: to announce he is officially running before contributions can be solicited,
Speaker 8: so the announcement could come during those two days in
Speaker 8: San Francisco. I'm at Baxter Bloomberg Daybreak. Okay, ed, thank you.
Speaker 8: TikTok is under more pressure from the US this morning.
Speaker 8: The state of Montana has now enacted the first ever
Speaker 8: been on the wildly popular app, and we get the
Speaker 8: details now from Bloomberg's John Tucker John Nathan.
Speaker 11: It's short on technical details and nobody's really certain how
Speaker 11: it's going to be enforced. The measure bars app stores
Speaker 11: for making TikTok available for download within Montana's borders, something
Speaker 11: you can get around simply by using a virtual private network.
Speaker 11: The governor says it's to protect residents data from the
Speaker 11: Chinese Communist Party. TikTok is owned by Beijing based Byte Dance.
Speaker 11: App stores would be liable for fines of ten thousand
Speaker 11: dollars a day for violating the law. Individual TikTok users,
Speaker 11: they wouldn't be punished. The real news will certainly be
Speaker 11: the challenges to it. They'll offer insight into whether courts
Speaker 11: will uphold efforts in Congress to ban TikTok. TikTok has
Speaker 11: roughly one hundred and fifty million users in the US
Speaker 11: in New York On John Tucker Bloomberg, dam.
Speaker 1: Break all right, John, Thanks well, looking at Marcus this morning.
Speaker 3: Let's update you on some of the stocks on the move.
Speaker 1: Shares of Cisco are done about three and a half percent,
Speaker 1: The largest maker of computer network machines as orders to
Speaker 1: cline twenty three percent in the past quarter.
Speaker 2: Now on the flip side, Careen shares of Take two
Speaker 2: Interactive are up nine point six percent. The company known
Speaker 2: for its Grand Theft auto video game top quarterly sales estimates.
Speaker 2: Take two is also hinting of a release date for
Speaker 2: an new version of its wildly popular title.
Speaker 1: Well up next, Nathan retail earnings come into focus. We
Speaker 1: get results this morning from Walmart, and Bloomberg's Tom Busby
Speaker 1: has a preview.
Speaker 9: The focus for investors is the strength of grocery sales
Speaker 9: at Walmart, which makes up about half its annual revenues,
Speaker 9: and they may be more important than ever after Target
Speaker 9: reported its shoppers have been buying just the basics food
Speaker 9: and household goods, not as much clothing or electronics. Also,
Speaker 9: Home Depot noted a pullback by consumers in their report
Speaker 9: earlier this week. Look for adjusted earnings of one dollar
Speaker 9: thirty one cents a share, revenue of one hundred and
Speaker 9: forty eight point seven billion dollars, and same store sales
Speaker 9: forecast arise just over five percent. Tom Busby, Bloomberg Daybreak.
Speaker 4: Okay, Tom, thank you.
Speaker 2: Shares of Micron Technology are also on the move this morning,
Speaker 2: that stocks up more than two percent in early trading.
Speaker 2: Source to say Micron's pois to land about one and
Speaker 2: a half billion dollars in financial incentives from the Japanese
Speaker 2: government to help make it the next generation memory chips
Speaker 2: in the country.
Speaker 1: And Deutsche Bank coming under fire this morning Nathan or
Speaker 1: It's work with Jeffrey Epstein. The bank will page seventy
Speaker 1: five million dollars to settle a US lawsuit involving the
Speaker 1: late disgraced financier. Victims of Epstein's sexual abuse accuse the
Speaker 1: German bank of facilitating his sex trafficking operation. JP Morgan
Speaker 1: is also facing a similar suit. And we have your
Speaker 1: latest local headlines, plus a check of sports.
Speaker 3: And this is Bloomberg.
Speaker 2: I'm going to take a look at some of the
Speaker 2: other stories making news in New York and around the world.
Speaker 2: And for that beer, joined by Bloomberg's Michael Bargo Morning, Michael.
Speaker 5: Good Morning. Nathan Saifulu Sipov, the Isis inspired terrorist who
Speaker 5: carried out a deadly attack with a truck in New
Speaker 5: York City, a sentenced to life in prison for killing
Speaker 5: eight people when he sped down a bike path and
Speaker 5: a branded truck. JP Patrick, the Jerry Foreman, spoke outside
Speaker 5: the courthouse.
Speaker 7: The gruesome nature of this crime was just hard to
Speaker 7: take as a As a.
Speaker 5: Jure, Sipov had been spared the death penalty. The life
Speaker 5: sentence means he is headed to the nation's most secure
Speaker 5: federal prison in Colorado. Once there, he's in for twenty
Speaker 5: two hours a day alone in his cell. The House
Speaker 5: voted to refer in battled Republican Congressman George Santos's case
Speaker 5: to the Ethics Committee. Santos says, referring the resolution to
Speaker 5: Ethics is the best path forward.
Speaker 2: I was elected by them to come represent them.
Speaker 4: I will continue to do that.
Speaker 2: I have not not done my job since I've gotten here.
Speaker 4: I can chew and walk them at the same time.
Speaker 4: I can chew them and walk at the same time.
Speaker 5: Some of his colleagues. He called Santos after his news conference, if.
Speaker 2: I could understand you over my colleague screaming here, the
Speaker 2: reality is better.
Speaker 5: I gotta go there, come on. Santos is facing thirteen
Speaker 5: federal charges, including money laundering. A spokesperson for Prince Harry
Speaker 5: and Duchess Meghan claimed that they were involved in a
Speaker 5: near catastrophic car chase while being pursued by paparazzi and
Speaker 5: Manhattan Tuesday night. Meanwhile, the NYPD says it wasn't at
Speaker 5: as traffic but merely challenging to get Megan and Harry home.
Speaker 5: After heading to a police precinct for safety, Harry and Meghan,
Speaker 5: along with her mother and a security guard, held a
Speaker 5: taxi to elude photographers, but the cab drivers stopped short
Speaker 5: of calling it a chase. New York's Mayor Eric Adams
Speaker 5: also expressed skepticism about the chase lasting two hours, but
Speaker 5: a lot of people are using our streets of any
Speaker 5: type of high speed chase that involves something of that
Speaker 5: nature is inappropriate. In nineteen ninety seven, Prince Harry's mother,
Speaker 5: Princess Diana, died in a crash while being chased by
Speaker 5: paparazzi in Paris. Meanwhile, Mayor Adams delivered some harsh words
Speaker 5: for people criticizing the city's decision to house thousands of
Speaker 5: migrants in the city's hotels. Adams says while he would
Speaker 5: rather keep those hotels open for tourists, the city needs
Speaker 5: to house the asylum seekers somewhere, and calls on others
Speaker 5: for suggestions moving forward. Global News twenty four hours a day,
Speaker 5: powered by more than seven hundred journalist and analysts in
Speaker 5: over one hundred and twenty countries. I'm Michael Barr. This
Speaker 5: is Bloomberg, Nathan.
Speaker 2: Thank you, Michael, come now for the Blueberg Sports Update,
Speaker 2: brought to you by tri State out Ay you.
Speaker 4: Good morning, John stansh Hour, Good morning Nathan.
Speaker 6: A wild and much needed win for the Mets, who've
Speaker 6: been floundering for nearly a month, looked like another loss.
Speaker 6: They trailed Tampa Bay two not in the city field later.
Speaker 4: Five to two.
Speaker 6: They tied the game with a dramatic three run homer
Speaker 6: with two outs on the bottom of the ninth any
Speaker 6: by Francisco Alvarez, but then they fell behind yet again
Speaker 6: in the tenth inning.
Speaker 4: When it was time for.
Speaker 11: More drama, Fairbanks holds a cent the old one, swinging a.
Speaker 4: High fly deep left field.
Speaker 12: Peter Alonzo has what the game? It's a three run
Speaker 12: walk off home run, Hey seven.
Speaker 4: New York WCBS.
Speaker 6: Just as the Mets were hitting those two three run
Speaker 6: homers one to tie, one to win, a three run
Speaker 6: shot into by the Blue Jays Danny Jansen of Wandy
Speaker 6: Peralto for the first and only runs in the game.
Speaker 6: Blue Jays shutout the Yankees three nothing in ten innings.
Speaker 6: The Yanks had only three hits Game one of the
Speaker 6: NBA East Finals to the heat their third straight series
Speaker 6: opening win on the road. Fifteen to ever do that
Speaker 6: beat the Celtics in Boston one twenty three, one sixteen,
Speaker 6: led by Jimmy Butler thirty five points, five rebounds, seven assists,
Speaker 6: six steals, the Heat made over half their three pointers.
Speaker 6: They'll play Game two in the West tonight, Lakers Nuggets
Speaker 6: in Denver where the Nuggets are seven, and oh Stanley
Speaker 6: Cup playoffs are back to night.
Speaker 4: Game one of the East Florida at Carolina.
Speaker 6: Second Golf Major of the aar PGA Championship at Oak
Speaker 6: Hill in Rochester. Big names going off over this morning,
Speaker 6: like world number one in Masters Champ John Rom defending
Speaker 6: Champ Justin Thomas playing.
Speaker 4: With Orya McElroy live cover today.
Speaker 6: I'm Blueberg Radio, starting just after the end of trading
Speaker 6: at four Sons Stashewer.
Speaker 4: Bloomberg's points.
Speaker 7: Live from coast to coast, from New York to San Francisco,
Speaker 7: Boston to Washington, nationwide on SYRIASXAM.
Speaker 4: The Bloomberg Business app, and Bloomberg dot Com. This is
Speaker 4: Bloomberg Daybreak. Good morning. I'm Nathan Hager.
Speaker 2: President Biden and other world leaders have begun arriving in Hiroshima,
Speaker 2: Japan for the annual Group of Seven Leaders Summit. The
Speaker 2: warren Ukraine, arising China, and for the President, a debt
Speaker 2: crisis back home will all be top of mind. Bloomberg's
Speaker 2: and Marie Horden is covering the G seven for US
Speaker 2: from Hiroshima and joins US Live this morning. Good to
Speaker 2: have you with us and Marie as we watch headlines
Speaker 2: cross the Bloomberg Terminal from the President's early meeting just now,
Speaker 2: with Japanese Prime Minister Kashida saying that he wants to
Speaker 2: hold Russia accountable for its brutal aggression in Ukraine, working
Speaker 2: on nuclear non proliferation and working on partnerships between Japanese
Speaker 2: and US companies. Already getting something of a glimpse of
Speaker 2: the themes that are going to be dominating this G seven.
Speaker 13: Certainly, and good morning to you. I think we should
Speaker 13: start there with the nuclear weapons proliferation because obviously the
Speaker 13: summit of Hiarashima is a potent reminder, of course what
Speaker 13: happened in Japan twice with nuclear weapons by the United States.
Speaker 13: It's also where Fumyo Koshida, Prime Minister is from. This
Speaker 13: is incredibly important to him. But the main topics that
Speaker 13: are going to probably be the most tense and you're
Speaker 13: going to want to see the most action from world
Speaker 13: leaders they potentially have some agreements on is going to
Speaker 13: be Russia. There's a ton of sanctions already on the
Speaker 13: Russian economy, so potentially going to look at how they
Speaker 13: can close the gaps for how Russia is still getting
Speaker 13: some material from third world countries, third party countries, excuse me.
Speaker 13: And then of course China, how do they tackle China.
Speaker 13: We know the United States wants to come out and
Speaker 13: talk about economic coersion with China, but the issue they
Speaker 13: have is how do they agree and get all of
Speaker 13: the seven countries to not just agree on language, but
Speaker 13: beyond language, what can actually be done Because all of
Speaker 13: these economies, whether it's trade, whether it's investment, whether it's
Speaker 13: supply chains, are critically linked with Beijing. So these going
Speaker 13: to be very difficult conversations. And then to top it
Speaker 13: off all for the president, he is going to feel
Speaker 13: a tremendous amount of pressure for obviously negotiations that are
Speaker 13: taking place back home in Washington, DC, and it is
Speaker 13: a thirteen hour, brutal time difference, So it's going to
Speaker 13: be a big one for this team to work through.
Speaker 2: Yeah, to your point on the China question, Anne, Marie,
Speaker 2: we've seen the leaders at this summit specifically taking some
Speaker 2: pretty broad approaches when it comes to confronting President She
Speaker 2: we had Emmanuel Macron, the president of France, take a
Speaker 2: more open stance while the US is trying to get
Speaker 2: past some of the tensions following the spy balloon incident
Speaker 2: back in February. How can this gathering potentially lead to
Speaker 2: some kind of consensus on just how to tackle the
Speaker 2: Chinese question.
Speaker 13: Well, they're looking to send a signal to China and
Speaker 13: they're going to be announcing a joint effort according to
Speaker 13: our reporting, to counter this economic coersion. But you know,
Speaker 13: you mentioned Emmanue Macron, you mentioned what the president is doing.
Speaker 13: What you're going to hear? I think a lot of languages,
Speaker 13: there is a lot of talk of decoupling at one point.
Speaker 13: Now everyone's talking about de risking. Amaanu. Macron will be
Speaker 13: definitely one that is going to be watched because he
Speaker 13: of course had this what Summer's definitely saying, and if
Speaker 13: it's say it's a controversial trip that he talked about
Speaker 13: strategic autonomy when it comes to China and how he
Speaker 13: didn't want to decouple. But then you're going to look
Speaker 13: at other leaders like Italy's Georgia Maloney, who recently met
Speaker 13: with Speaker McCarthy and from our reporting, she told him
Speaker 13: that they do plan to get out of China's Belton
Speaker 13: Road initiative. So potentially some wins for the United States.
Speaker 13: But the issue is how can they all align on
Speaker 13: the actions, because for China it's very difficult in terms
Speaker 13: of the economics work that is being done in each
Speaker 13: individual country's trade, the investment. There's one potential area where
Speaker 13: we could hear talk, and this is about outbound investment restrictions.
Speaker 13: To that, Secretary Yellen when I was in the Gatta
Speaker 13: spoke about this at the Finance Minister's meeting. She wants
Speaker 13: to talk to other countries about it. But even that
Speaker 13: at the moment looks very narrow in the scope. So potential,
Speaker 13: there's going to be a lot of talk on China,
Speaker 13: but really what happens in terms of tangible deliverables is
Speaker 13: the big question.
Speaker 4: Got about a minute left here, Anne Marie.
Speaker 2: The President has said he's going to stay engaged with
Speaker 2: the negotiations on the debt ceiling back in Washington. How
Speaker 2: much of an overhang could this be for the other
Speaker 2: leaders gathered at the G seven when it comes to
Speaker 2: the US standing.
Speaker 13: In the world, well, already, the President had a cancel
Speaker 13: part of his trip. He was going to pop A
Speaker 13: New Guinea, which was supposed to be a big play
Speaker 13: on a tour in China, and he was also going
Speaker 13: to Australia meeting with the Quad. They are going to
Speaker 13: be here and have a sideline meeting alongside the G seven.
Speaker 13: But the President was making a bigger push in the
Speaker 13: Asia Pacific and he had to cut short to be
Speaker 13: with what is going on domestically. So there will be
Speaker 13: probably a lot of criticism for that on the international
Speaker 13: stage that domestic politics is getting getting in the way
Speaker 13: of foreign policy. We also have criticism back home for
Speaker 13: the president, Super McCarthy telling the President stop hiding, stop traveling.
Speaker 13: This is going to be a big one for the president,
Speaker 13: but he exhibited a lot of confidence before he left
Speaker 13: that he thinks his team dealing with the Republicans can
Speaker 13: find an agreement.
Speaker 2: This is Bloomberg day Break Today, your morning brief on
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