Speaker 1: Buy from the Bloomberg Interact day Burgers Studios. This is
Speaker 1: Bloomberg day Break for Tuesday, March twenty eighth. Coming up today,
Speaker 1: another deadly school shooting leads to a renewed plea from
Speaker 1: President Biden have to do more. Top conviolence. Tension eases
Speaker 1: in Israel as Benjamin net and Yahoo delays a gland
Speaker 1: to weaken the judiciary, and bank hearings get underway on
Speaker 1: the Capitol Hill. Your Jersey has taken over the police
Speaker 1: department in one major city. Plus North Korea threatens nuclear
Speaker 1: use at any time as a US aircraft carrier arvives.
Speaker 1: Michael Barner. More ahead, I'm John Flashed, Aaron Sports, the
Speaker 1: nixt beat the Rockets, the Islanders beat the Devils, and
Speaker 1: the latest on the Jets attempt a get Aaron Rodgers.
Speaker 1: That's all straight ahead on Bloomberg day Break. The business
Speaker 1: news you need disturn your day in just one fifteen
Speaker 1: minute podcast, each pointing on Apples, Spotify, The Bloomberg Business
Speaker 1: Appen everywhere you get your podcasts. Good morning, I'm Nathan
Speaker 1: Hagar and I'm Cameron Moscow. Here are the stories we're
Speaker 1: following today. First, we begin with another mass shooting, this
Speaker 1: time at an elementary school housed in a church. Police
Speaker 1: in Nashville say a twenty eight year old woman shot
Speaker 1: and killed three nine year olds and three adults at
Speaker 1: the Covenant School before police killed her. And now President
Speaker 1: Biden is renewing his call for an assault weapons ban.
Speaker 1: We have to do more just top con violence. It's
Speaker 1: ripping our communities apart, a soul of this nation, ripping
Speaker 1: it's a very soul of the nation. But President Biden's
Speaker 1: words are already getting a cold reception from Republicans, including
Speaker 1: Tennessee Congressman Tim Burchett. The common thread is you've got
Speaker 1: somebody who's mentally ill and evil, just gets a lot
Speaker 1: evil in their art, and they're going to do something
Speaker 1: no matter what. They're gonna do it with a knife,
Speaker 1: he'll do it with whatever, or a bomb or fertilizer bomb.
Speaker 1: Republican Tim Burchett of Tennessee. And in the interests of transparency,
Speaker 1: we should note that Michael Bloomberg, the founder and majority
Speaker 1: owner of Bloomberg Radio parent company Bloomberg LP, donates to
Speaker 1: group that support gun control and Nathan. Another major story
Speaker 1: that we're following involves the unrest in Israel tensions are
Speaker 1: now easing after Prime Minister Benjamin Netanyah, who said he'll
Speaker 1: delay a controversial plan to weaken the judiciary again. More
Speaker 1: from Bloombery Tel Aviv Bureau chief Ethan Brauner, the precipitating
Speaker 1: event was on a Sunday night when he fired the
Speaker 1: defense minister. And by firing, you of gallant. This is
Speaker 1: a guy who has been a nable commander, who's spent
Speaker 1: his whole life in service to the country, and who
Speaker 1: got on TV on Saturday night and said, listen, we
Speaker 1: need to take a break from this. This country is
Speaker 1: split and our enemies are laughing and taking advantage of it,
Speaker 1: and I, in the name of national security, ask for
Speaker 1: a break. And then he was fired twenty four hours later.
Speaker 1: And I think that most people in this country felt
Speaker 1: that that was a bad move, and they took to
Speaker 1: the streets and he ended up having to listen to
Speaker 1: them and Bloomber's Ethan Brauner and tel Aviv says Natanyah,
Speaker 1: who is ready to talk with opponents in hopes of
Speaker 1: reaching a compromise. Well, Karen rolls So. Seeing civil unrest
Speaker 1: in France in the form of nationwide strikes, French unions
Speaker 1: are trying to force President Emmanuel McCrone to reverse a
Speaker 1: decision in acting unpopular pension reforms, and we get more
Speaker 1: from Bloomberg's Caroline Conan in Paris. The anger in the
Speaker 1: streets of Paris is still very much there. It is
Speaker 1: the tenth day of the general strikes since the middle
Speaker 1: of January, and the unions are hoping to better today
Speaker 1: than last Thursday, when you heard about one point one
Speaker 1: million people in the street. Bloomberg's Caroline Conan in Paris
Speaker 1: says the backlash is centered on a proposal to raise
Speaker 1: the minimum retirement age by two years to sixty four.
Speaker 1: Well back here in the US, Nathan, turmoil in the
Speaker 1: banking sector is in the spotlight. On Capitol Hill, the
Speaker 1: Senate Banking Committee holds the first of several hearings on
Speaker 1: the collapse of Silicon Valley Bank. Amy Morris has details
Speaker 1: from our Bloomberg ninety nine one newsroom in Washington. It
Speaker 1: will be an open hearing with FDIC Chair Martin Gruenberg,
Speaker 1: Treasury Undersecretary Nellie Lang, and FED Vice Chair Michael Barr.
Speaker 1: Terry Haynes is the founder of Pangaea Policy, and he
Speaker 1: tells Bloomberg Daybreak. Markets want clarity and answers, but they're
Speaker 1: not going to get those from these hearings. I will say, though,
Speaker 1: the markets are already starting to see a path here.
Speaker 1: You know, they see the regionals being relied upon, and
Speaker 1: they see the means for targeted government support. And he says,
Speaker 1: don't expect any new bills or regulations to come from
Speaker 1: these hearings because lawmakers can't even agree on what caused
Speaker 1: the crisis in Washington. I'm maybe Morris Bloomberg Daybreak, all right, Amy,
Speaker 1: thank you. The banking turmoil is adding to the debate
Speaker 1: on when the Fed should start cutting rates, and we
Speaker 1: get the latest on that Live with Bloomberg's John Tucker.
Speaker 1: John and ifan Jeff Gunlock has his finger on the
Speaker 1: pulse of the economy, he says it's clearly weak. The
Speaker 1: Double Line Capital founder tells CNBC recession will start in
Speaker 1: a few months. He sees rate cuts this year. Well,
Speaker 1: he's not the only one wighing in. Philip Jefferson, one
Speaker 1: of the FED governors, took a much different line in
Speaker 1: a speech yesterday. He said the inflation fight is going
Speaker 1: to take some time, and they'll mention anywhere there of
Speaker 1: rate cuts. Adding to the debate the recent banking turmboil
Speaker 1: it may act as a de facto rate hike. Live
Speaker 1: in New York, I'm John Tucker, Bloomberg Daybreak. All Right, John,
Speaker 1: thanks well. In corporate news this morning, the job cuts
Speaker 1: have a gun at Disney, and we get the latest
Speaker 1: live at the Bloomberry. Steve Rappaport, Steve, good morning, Good morning,
Speaker 1: Karen and Nathan. The purge of seven thousand employees as
Speaker 1: part of Disney's plan for saving five and a half
Speaker 1: billion dollars. CEO Bob Eiger, in a memo to employees yesterday,
Speaker 1: said the first group to go will be notified over
Speaker 1: the next four days. A second, larger round of cuts
Speaker 1: will follow next month. Since retaking the rains at Disney,
Speaker 1: Iger set out to improve the company's financial performance. He
Speaker 1: also reshaped the structure at Disney's TV and movie businesses,
Speaker 1: giving more control to creative leaders in those divisions. Live
Speaker 1: in New York, I'm Steve Rappiport, Bloomberg Daybreak. Okay, Steve,
Speaker 1: thanks a. Meta Platforms is making more moves affecting its
Speaker 1: work force. The Wall Street Journal says the Facebook owner
Speaker 1: plans to lower some bonus payouts and more frequently assess
Speaker 1: employee performance. Earlier this month, Meta set it planned to
Speaker 1: lay off about ten thousand employees and eliminate five thousand
Speaker 1: open rolls, and was on top of eleven thousand job
Speaker 1: cuts at Meta back in November. It's forty three degrees
Speaker 1: in New York, Chanceford. Isolated early morning shower, otherwise mostly
Speaker 1: cloudy in a high year fifty today. Partly cloudy tonight
Speaker 1: with lows in the upper thirties. Coming out to take
Speaker 1: a look at some of the other news making headlines
Speaker 1: in New York and around the world with Bloomberg's Michael Bark.
Speaker 1: Good morning, Michael, Good morning Nathan. The New York grand
Speaker 1: Jerry weighing possible criminal charges against former President Trump heard
Speaker 1: from an important witness. Former publisher of the National Inquirer
Speaker 1: and a longtime friend of Donald Trump, David Pecker is
Speaker 1: a key witness in the investigation into the hush money
Speaker 1: payments Trump mate porn star Stormy Daniels. Surely before the
Speaker 1: twenty sixteen election, Daniels had attempted to sell her story
Speaker 1: about having an affair with Trump to The Inquirer instead
Speaker 1: of buying it Pecker directed her to then Trump lawyer
Speaker 1: Mike Cohen, who arranged the payoff at the heart of
Speaker 1: the case. The police department in Patterson, New Jersey, is
Speaker 1: getting taken over by the state after several controversies. State
Speaker 1: Attorney General Matt Platkin says there's a crisis of confidence
Speaker 1: in Patterson. This is the State of New Jersey coming
Speaker 1: in to provide the support that this community needs, to
Speaker 1: provide the resources that this community needs. Earlier this month,
Speaker 1: anti violence activist Naji Seabrooks was fatally shot by Patterson
Speaker 1: police during a mental health crisis. North Korean leader Kim
Speaker 1: John Un has called for his nuclear scientists to increase
Speaker 1: production of weapons grade material to make bombs to put
Speaker 1: on his increasing range of weapons. North Korea's weapons test
Speaker 1: and US South Korea military exercises have intensified in a
Speaker 1: tit for tat cycle. Russia's Defense ministry says Moscow successfully
Speaker 1: test fired missiles in the Sea of Japan. The ministry
Speaker 1: set today that two boats launched a simulated missile attack
Speaker 1: on a mock enemy warship about six miles away. The
Speaker 1: Mosket Cruise missile is a supersonic anti ship cruise missile
Speaker 1: that has a conventional and nuclear warhead capacity. The Red
Speaker 1: Cross says storm recovery in Mississippi is going to take years.
Speaker 1: More than twenty people were killed and buildings were destroyed,
Speaker 1: especially in the hard hit town of Rolling Fork. Old
Speaker 1: Ridge Walker is Rolling Forks mayor and also the funeral director.
Speaker 1: We got families that are living in with family members
Speaker 1: who live outside of town. We got groups who are
Speaker 1: living in hotels, so they're just staying in place until
Speaker 1: they can get back home. At least fifteen tornadoes hit
Speaker 1: across the South since Friday. Global News twenty four hours
Speaker 1: a day, powered by more than twenty seven hundred journalists
Speaker 1: an analysts in over one hundred twenty countries. I'm Michael Bard.
Speaker 1: This is Bloomberg Nathan. Thanks Michael tim Out of the
Speaker 1: Bloomberg Sports Update. For that, we bring in John Stash Howard, John,
Speaker 1: Good morning. Nathan Nixon. Rockets at the Garden Houston, second
Speaker 1: worst record in the NBA. So the Knicks did not
Speaker 1: need Jalen Brunson, he sat out with an injured hand.
Speaker 1: They also didn't need them because they had Emmanuel Quickly,
Speaker 1: who in thirty minutes scored forty points. Added nine assists
Speaker 1: Knicks over the Rockets one thirty seven, one fifteen. They'll
Speaker 1: host Miami tomorrow at the UBS Arena. Islanders got a
Speaker 1: pair of goals from the former Devil Kyle Palmary, beat
Speaker 1: New Jersey five to one. The Rangers sit between the
Speaker 1: two teams, but with six wins the last seven games,
Speaker 1: the Rangers have moved within four points to the Devils.
Speaker 1: As the Rangers played Columbus tonight at the Guarden, NCUBA
Speaker 1: women's tourney has gone much more according to form than
Speaker 1: the men. Top seed South Carolina and Virginia Tech both won.
Speaker 1: They'll join LSU and IOA the final fourth. South Carolina
Speaker 1: is thirty six, and oh Texas named Rodney Terry men's coach.
Speaker 1: He had been the interim coach. Yankees' final exhibition game
Speaker 1: is today. Mets have already wrapped up their great fruitlely
Speaker 1: they're staying in Florida to open the season Thursday in Miami.
Speaker 1: NFL owners are meeting in Arizona's A. Giants owner John Marra,
Speaker 1: having locked up Daniel Jones long term, was asked about
Speaker 1: sae Quon Barkley, and Mara said he wants Barkley to
Speaker 1: be a Giant his entire career. As things stand now,
Speaker 1: he's playing on the franchise Tack Jets GM. Joe Douglas
Speaker 1: asked where things stand with the Jets acquiring Aaron Rodgers
Speaker 1: from Green Bay. There's been some some productive conversations, and
Speaker 1: you know, obviously we're now where we need to be yet,
Speaker 1: and but I feel like we're in a good place.
Speaker 1: Douglas added. There's not a ton of urgency as there's
Speaker 1: no hard deadline of Jets coach Robert Sali said he's
Speaker 1: confident Rogers will end up a jet did he dash down?
Speaker 1: Bloomberg Sports Live from coast to coast, from New York
Speaker 1: to San Francisco, Boston to Washington, d C. Nationwide on
Speaker 1: Sirius XAM, the Bloomberg Business app, and Bloomberg dot Com.
Speaker 1: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Yet
Speaker 1: another mass shooting in this country is leading to yet
Speaker 1: more calls for action from the White House. The latest
Speaker 1: scene of tragedy as a private Christian school in Nashville, Tennessee.
Speaker 1: President Biden says it is the latest sign of the
Speaker 1: danger from easy access to guns. A shooter in this
Speaker 1: situation reporter, we had two assault weapons in a pistol
Speaker 1: to a Katy seven. So I call on Congress again
Speaker 1: to pass my assault weapons ban. It's about time that
Speaker 1: we began to make some more progress. When that was
Speaker 1: President Biden at the White House yesterday following the shooting
Speaker 1: at the Covenants School in Nashville. This morning, we're joined
Speaker 1: live by Greg Valier, chief US policy strategist at AGF Investments. Greg,
Speaker 1: good morning. You can almost hear the resignation in President
Speaker 1: Biden's voices. He makes that call once again for action
Speaker 1: on assault weapons. Where does the debate stand in Washington
Speaker 1: when it comes to gun policy in this country? Well,
Speaker 1: I wish I could tell you, Nathan that things are
Speaker 1: looking more upbeat to get some serious gun legislation, but
Speaker 1: they're not. I don't see happening. I think the House is,
Speaker 1: as you know, more conservative with Kevin McCarthy as the speaker.
Speaker 1: I don't see the House agreeing to anything on gun.
Speaker 1: So once again, a horrible incident in a lot of
Speaker 1: hot air, but no real action. I know we've seen
Speaker 1: mass shootings at elementary schools before, obviously the Sandy Hook shooting,
Speaker 1: and now this time at a religious school. In Nashville, Tennessee.
Speaker 1: I wonder whether it makes a difference the setting of
Speaker 1: these types of tragedies where they occur, and whether that
Speaker 1: could shift the debate in some way. I don't think so.
Speaker 1: I mean, there's been you know, the Sandy Hook was
Speaker 1: New England. We had a horrible massacre in Texas a
Speaker 1: year or so ago. It seems to be endemic across
Speaker 1: the country. And I just don't see the votes there.
Speaker 1: I mean, I'm basically follow economic legislation, and my mantra
Speaker 1: is always do they have the votes? It applies here
Speaker 1: as well. They don't have the votes for any meaningful
Speaker 1: gun control. And it seems like we hear the same
Speaker 1: lines of debate over and over again. When these types
Speaker 1: of things happen. For Democrats, they call for more controls
Speaker 1: on access to firearms. For Republicans, it seems as though
Speaker 1: the debate centers around mental health, that sort of thing.
Speaker 1: Why do you think it is that the positions on
Speaker 1: this debate have become so entrenched. Well, it's the packs,
Speaker 1: the political action committees that influenced so much legislation. It's
Speaker 1: a fear I think the part of many members of
Speaker 1: Congress that if they voted for tough gun control, they
Speaker 1: would lose their next election, and sadly they would rather
Speaker 1: win their next election than do anything. We did have
Speaker 1: the Bipartisan Safer Communities Act past last year. President Biden
Speaker 1: has signed executive orders since then as well. I mean,
Speaker 1: is that as far as it goes at this point?
Speaker 1: Greg Oh, I think so. It's a miracle we got that.
Speaker 1: That was a tough fight, but getting anything more aggressive
Speaker 1: right now, to me is quite unlikely. Well, what do
Speaker 1: you think would have to change to move the debate
Speaker 1: one way or the other? I mean, is there any
Speaker 1: glimmer of light that could come forth from this? Not
Speaker 1: that I can see. I mean, I suppose if there's
Speaker 1: a real upsurge in gun violence that could even more
Speaker 1: than we have now, that that could maybe sways some voters.
Speaker 1: But I don't barring that, I don't think that the
Speaker 1: voters in Congress are persuadable. Now we are waiting for
Speaker 1: a President Biden to kick off something of a campaign
Speaker 1: later today focused on his economic accomplishments. He's heading down
Speaker 1: to North Carolina later on today. I wonder whether this
Speaker 1: latest incident is going to overshadow this plan that the
Speaker 1: President and his cabinet have over the next few weeks
Speaker 1: to sort of blitz the country touting their economic accomplishments
Speaker 1: ahead of what we're expecting to be a reelection announcement
Speaker 1: from the President. Great. Yeah, I think Nathan, that we're
Speaker 1: going to see the President go all out in the
Speaker 1: next few weeks talking about his economic agenda. But at
Speaker 1: the same time, there's going to be hearings on Capitol
Speaker 1: Hill about how the Federal Reserve could be so lax
Speaker 1: in their regulation and their supervision. So I think the
Speaker 1: message from Biden will have some positive response, but you know,
Speaker 1: there's still an awful lot that voters are concerned about,
Speaker 1: starting with inflation. This is Bloomberg Daybreak Today, your morning
Speaker 1: brief on the stories making news from Wall Street to
Speaker 1: Washington and beyond. Look for us on your podcast feed
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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Join us again
Speaker 1: tomorrow morning for all the news you need to start
Speaker 1: your day right here on Bloomberg Daybreak