1
00:00:01,400 --> 00:00:03,640
Speaker 1: News when you want it with Bloomberg News Now, I'm

2
00:00:03,680 --> 00:00:07,160
Speaker 1: Doug Krisner. The Supreme Court has extended a freeze on

3
00:00:07,240 --> 00:00:10,760
Speaker 1: a federal judge's ruling to require SNAP to be fully

4
00:00:10,800 --> 00:00:14,080
Speaker 1: funded in November, and for now, the Trump administration does

5
00:00:14,120 --> 00:00:17,239
Speaker 1: not have to distribute the additional four billion dollars in

6
00:00:17,320 --> 00:00:20,520
Speaker 1: SNAP funding. Now, the Supreme Court's block on full SNAP

7
00:00:20,560 --> 00:00:24,959
Speaker 1: payments does remain in effect until Thursday at midnight. Meantime,

8
00:00:24,960 --> 00:00:27,680
Speaker 1: the government shutdown is on a path to end as

9
00:00:27,680 --> 00:00:31,040
Speaker 1: soon as tomorrow. Last night, the Senate advanced a temporary

10
00:00:31,040 --> 00:00:34,919
Speaker 1: funding measure to reopen most of the government through January thirtieth.

11
00:00:35,040 --> 00:00:39,159
Speaker 1: The deal was reached after Democratic moderates dropped their demands

12
00:00:39,200 --> 00:00:42,760
Speaker 1: to renew expiring tax subsidies under the Affordable Care Act.

13
00:00:43,159 --> 00:00:46,520
Speaker 1: Now the bill goes to the Republican controlled House for approval.

14
00:00:46,840 --> 00:00:49,279
Speaker 1: Here is Minority Leader Jakim Jeffreys.

15
00:00:49,600 --> 00:00:53,960
Speaker 2: We're focus right now on pressing the case in addressing

16
00:00:54,160 --> 00:00:57,680
Speaker 2: the Republican healthcare crisis. Will be before the Rules Committee

17
00:00:58,000 --> 00:01:00,240
Speaker 2: in moments, will have a family conversation as well. House

18
00:01:00,240 --> 00:01:04,200
Speaker 2: Democrats were strongly opposed as House Democrats to this reckless

19
00:01:04,240 --> 00:01:08,920
Speaker 2: Republican effort. To continue to raise the high cost of

20
00:01:08,959 --> 00:01:12,400
Speaker 2: living on everyday Americans, which is exactly what they're doing

21
00:01:12,600 --> 00:01:14,840
Speaker 2: by failing to extend the Affordable Care Access Credit.

22
00:01:14,959 --> 00:01:18,600
Speaker 1: That is House Minority Leader Hakim Jeffries. Incidentally, the House

23
00:01:18,680 --> 00:01:21,840
Speaker 1: is planning to vote tomorrow. He as the shutdown could

24
00:01:21,920 --> 00:01:24,760
Speaker 1: end this week. However, it's not yet over and more

25
00:01:24,800 --> 00:01:28,720
Speaker 1: flights are being disrupted. Airports serving Chicago, Atlanta, and New

26
00:01:28,800 --> 00:01:32,440
Speaker 1: York were hit the hardest by government mandated flight cuts.

27
00:01:32,640 --> 00:01:35,959
Speaker 1: We heard from Transportation Secretary Sean Duffy. He spoke to

28
00:01:36,000 --> 00:01:39,360
Speaker 1: reporters on how soon flights would return to normal once

29
00:01:39,360 --> 00:01:40,960
Speaker 1: the bill is passed by the House.

30
00:01:41,200 --> 00:01:42,279
Speaker 3: We are going to look.

31
00:01:42,120 --> 00:01:45,200
Speaker 4: At the data and make the best decisions possible to

32
00:01:45,360 --> 00:01:48,400
Speaker 4: keep the travel in public safe. That's what we've done.

33
00:01:48,720 --> 00:01:51,960
Speaker 4: When that data changes, we're going to start taking down

34
00:01:52,040 --> 00:01:54,880
Speaker 4: from six MAYOBE will go to four two and get

35
00:01:54,920 --> 00:01:56,840
Speaker 4: back to normal air travel. But I want to just

36
00:01:57,320 --> 00:01:59,440
Speaker 4: clarify what we've done and why we've done it.

37
00:01:59,440 --> 00:02:03,680
Speaker 1: Transportation Secretary Sean Duffy speaking to reporters Now. The FAA

38
00:02:03,760 --> 00:02:06,880
Speaker 1: began pairing back air traffic last week due to a

39
00:02:06,920 --> 00:02:10,600
Speaker 1: shortage of air traffic controllers. Separately we are told airline

40
00:02:10,639 --> 00:02:14,880
Speaker 1: executives privately asked for more information on the data used

41
00:02:14,919 --> 00:02:18,799
Speaker 1: to justify those flight cuts. Aids to President Trump are

42
00:02:18,840 --> 00:02:22,880
Speaker 1: reviewing federal funds that benefit New York City to potentially

43
00:02:22,919 --> 00:02:27,000
Speaker 1: suspend or even cancel them after Zoron Mamdani's victory in

44
00:02:27,120 --> 00:02:30,360
Speaker 1: the city's mayoral race. According to a White House official,

45
00:02:30,400 --> 00:02:34,400
Speaker 1: the administration is waiting on President Trump to greenlight any

46
00:02:34,440 --> 00:02:37,560
Speaker 1: funding freeze. Now, the White House and the mayor elects

47
00:02:37,639 --> 00:02:41,800
Speaker 1: transition team have not been in touch. Mamdani did campaign

48
00:02:41,800 --> 00:02:44,519
Speaker 1: on a platform that includes freezing the rent on more

49
00:02:44,600 --> 00:02:48,160
Speaker 1: than one million rent stabilized apartments. He also wants to

50
00:02:48,200 --> 00:02:53,840
Speaker 1: provide universal childcare and fund free buses. Mamdani also envisions

51
00:02:54,200 --> 00:02:57,200
Speaker 1: city owned grocery stores. His aim is to pay for

52
00:02:57,240 --> 00:03:01,160
Speaker 1: this agenda with new taxes on both corporations and high

53
00:03:01,200 --> 00:03:05,760
Speaker 1: income earners. In Nvidia shareholders, soft Bank sold its entire

54
00:03:05,840 --> 00:03:08,600
Speaker 1: stake in the chip maker. That sale netted five point

55
00:03:08,639 --> 00:03:11,520
Speaker 1: eighty three billion dollars. Now, soft Bank will use the

56
00:03:11,600 --> 00:03:15,960
Speaker 1: proceeds to help a bankroll investments in artificial intelligence, and

57
00:03:16,040 --> 00:03:19,280
Speaker 1: that will include a bigger bet on open AI. At

58
00:03:19,280 --> 00:03:22,800
Speaker 1: the same time, soft Bank also reported net income for

59
00:03:22,840 --> 00:03:26,639
Speaker 1: the latest quarter top estimates. However, shares are down more

60
00:03:26,680 --> 00:03:29,760
Speaker 1: than four percent in the Tokyo session. Here is Bloomberg's

61
00:03:29,760 --> 00:03:31,040
Speaker 1: Annabel Drowlers.

62
00:03:31,280 --> 00:03:33,160
Speaker 3: Just thinking about what it could be so far. I mean,

63
00:03:33,200 --> 00:03:35,920
Speaker 3: there has been something that's been indicated by analysts like

64
00:03:36,000 --> 00:03:38,720
Speaker 3: those Smart Karma for instance, who are saying that given

65
00:03:38,760 --> 00:03:41,839
Speaker 3: you've seen such a surge in the share price over

66
00:03:41,840 --> 00:03:45,640
Speaker 3: this year, they could be opening up to profit taking essentially.

67
00:03:45,760 --> 00:03:48,520
Speaker 3: So that is perhaps what is playing into the dynamics

68
00:03:48,560 --> 00:03:52,600
Speaker 3: so far, just investors looking again to take advantage essentially

69
00:03:52,720 --> 00:03:55,000
Speaker 3: all that big surge that we've seen.

70
00:03:55,040 --> 00:03:59,400
Speaker 1: That is Bloomberg's Annabel Jewelers. US Treasury Secretary Scott Besst

71
00:03:59,440 --> 00:04:03,240
Speaker 1: is downplaying and concerns about high cost under President Trump.

72
00:04:03,480 --> 00:04:07,840
Speaker 1: Besson said the administration inherited elevated price levels. Here is

73
00:04:07,880 --> 00:04:10,960
Speaker 1: the Treasury Secretary speaking this morning on MSNBC.

74
00:04:11,640 --> 00:04:14,080
Speaker 5: When you ask over the next six or twelve months,

75
00:04:14,840 --> 00:04:19,279
Speaker 5: there are two parts to affordability. There's the price level,

76
00:04:19,640 --> 00:04:22,160
Speaker 5: and we inherited a mess. It was the worst inflation

77
00:04:22,360 --> 00:04:25,520
Speaker 5: forty or fifty years. And I think what the President

78
00:04:25,560 --> 00:04:30,239
Speaker 5: was very frustrated about is you said, everyone started talking

79
00:04:30,279 --> 00:04:34,359
Speaker 5: about it that after he took office. Where was the

80
00:04:34,400 --> 00:04:36,800
Speaker 5: discussion during Joe Biden.

81
00:04:36,600 --> 00:04:40,320
Speaker 1: That is Treasury Secretary Scott Besson speaking on MSNBC. He

82
00:04:40,400 --> 00:04:43,960
Speaker 1: went on to say, rising working class wages will address

83
00:04:44,040 --> 00:04:47,239
Speaker 1: the affordability issue. We go to the Middle East next.

84
00:04:47,279 --> 00:04:50,520
Speaker 1: The US military is exploring the idea of building a

85
00:04:50,560 --> 00:04:53,880
Speaker 1: temporary base near the Gaza Strip as a means to

86
00:04:54,000 --> 00:04:58,160
Speaker 1: monitor the ceasefire between Israel and Hamas. Now, the Navy

87
00:04:58,240 --> 00:05:01,479
Speaker 1: sent a request for information to various contractors for the

88
00:05:01,520 --> 00:05:04,800
Speaker 1: cost of a base that can support ten thousand people

89
00:05:04,920 --> 00:05:08,520
Speaker 1: and provide ten thousand square feet of office space for

90
00:05:08,600 --> 00:05:12,240
Speaker 1: a year. This request was sent back on October thirty first,

91
00:05:12,279 --> 00:05:15,520
Speaker 1: with responses due three days later. Now, the White House

92
00:05:15,520 --> 00:05:18,480
Speaker 1: said these plans have not been approved, and Press Secretary

93
00:05:18,600 --> 00:05:22,000
Speaker 1: Caroline Levitt dismissed the document as just a piece of

94
00:05:22,080 --> 00:05:26,080
Speaker 1: paper produced by random people in the military. And that

95
00:05:26,240 --> 00:05:28,279
Speaker 1: is news when you want it with Bloomberg News. Now,

96
00:05:28,440 --> 00:05:30,240
Speaker 1: I'm Doug Prisner, and this is Bloomberg