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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Doug Prisner. The House has rejected a temporary funding plan

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Speaker 1: backed by President elect Trump. This bill would have suspended

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Speaker 1: the debt ceiling by two years. It also set a

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Speaker 1: new funding deadline of March fourteenth. Now government funding is

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Speaker 1: set to lapse on Friday night unless a new solution

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Speaker 1: is found. Here is House Speaker Mike Johnson speaking after

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Speaker 1: the vote.

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Speaker 2: Very disappointing to us that all but two Democrats voted

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Speaker 2: against aid to farmers and ranchers, against disaster relief, against

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Speaker 2: all these bipartisan measures that had already been negotiated and

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Speaker 2: decided upon. Again, the only difference on this legislation was

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Speaker 2: that we would push the debt ceiling to January of

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Speaker 2: twenty twenty seven.

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Speaker 1: That is how Speaker Mike Johnson. There Thirty eight Republicans

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Speaker 1: voted against the bill, in defiance of both the President

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Speaker 1: elect and Trump advisor Elon Musk. Bloomberg's Mike Dorning, Deputy

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Speaker 1: Congressional editor, tells us what's next for Congress.

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Speaker 3: Well, it's quite possible that they'll come up with some

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Speaker 3: temporary patch to keep things going a little longer. That

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Speaker 3: might be something that lasts into next year, but it

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Speaker 3: might just be something that lasts a little while. It's

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Speaker 3: also possible that shutdown occurs.

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Speaker 1: That is Bloomberg's Mike Dorning. The union representing Starbucks baristas

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Speaker 1: is planning to go on strike for five days beginning Friday.

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Speaker 1: Starbucks Workers United says its members are planning to walk

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Speaker 1: out in unionized stores across La Chicago, and Seattle. The

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Speaker 1: union represents more than ten thousand baristas. It said that

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Speaker 1: workers decided to go on strike after Starbucks presented a

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Speaker 1: package that offered no immediate raises for baristas in the union.

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Speaker 1: After the bel FedEx announced plans to spin off its

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Speaker 1: freight unit in the next eighteen months. This unit handles

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Speaker 1: larger cargo. Bloomberg Intelligence estimates the unit has an enterprise

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Speaker 1: value of more than thirty billion dollars. Here's Bloomberg analyst

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Speaker 1: Leak class Coow.

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Speaker 4: We knew it was un a strategic review, so either

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Speaker 4: one of two things was going to happen. They were

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Speaker 4: going to either spin it or not spin it. So

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Speaker 4: we thought that, you know, probably they would, which looks

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Speaker 4: like they're doing They're really trying to untap some value

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Speaker 4: that's kind of lost with the LTL business to lesson

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Speaker 4: truckload business being kind of stuck in their overall other businesses.

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Speaker 1: That is Bloomberg analyst Leak class cow Now. News of

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Speaker 1: the spinoff came as FedEx reported its quarterly results. Earnings

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Speaker 1: for the latest quarter top estimates, however, revenue missed, and

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Speaker 1: right now shares and FedEx are up by more than

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Speaker 1: eight and a half percent in late US trading after

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Speaker 1: the bell, Nike reported revenue for its latest quarter above estimates,

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Speaker 1: suggesting that Nike's performance is stabilizing. Here is Bloomberg Intelligence

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Speaker 1: Senior retail analyst Punam Goyel.

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Speaker 5: The biggest problem that Nike has had is that it

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Speaker 5: had lost momentum in two key categories running and lifestyle,

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Speaker 5: where others had come in and taking share. Are they

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Speaker 5: working to rebuild that up? Absolutely, Product pipeline execution, getting

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Speaker 5: back with the customers through runs and just building those

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Speaker 5: communities again is going to help that. We're still waiting

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Speaker 5: to hear from the new CEO, Elliot Hill, on what

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Speaker 5: the plans are to do so and we hope to

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Speaker 5: hear that in the next calendar year.

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Speaker 1: That is Punam Gooyel, Senior retail analyst for Bloomberg Intelligence. However,

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Speaker 1: later on the call with analyst, Nike said it sees

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Speaker 1: revenue in the current quarter falling into the low double digits,

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Speaker 1: and on top of that, Nike sees greater headwinds in

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Speaker 1: the following quarter compared with the current period. Nike shares

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Speaker 1: right now up one percent at late US trading. We

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Speaker 1: go to New York City next where CEO murder suspect

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Speaker 1: Luigi Mangoni made his federal court appearance. Earlier, he was

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Speaker 1: extradited from Pennsylvania to face charges connected to the murder

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Speaker 1: of United Healthcare CEO Brian Thompson. New York City Mayor

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Speaker 1: Eric Adams met the NYPD aircraft carrying Mangoni when it

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Speaker 1: landed in Manhattan.

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Speaker 6: The radical that is taking place across our country we

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Speaker 6: cannot ignore. When you see an incident that took place

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Speaker 6: on ol streets, when you witness a shoot in that

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Speaker 6: took place on a school campus by now a young girl,

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Speaker 6: it is a continuation of our young people are crying

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Speaker 6: out for help.

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Speaker 1: Eric Adams there the mayor of New York City. By

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Speaker 1: the way, Mangoni's lawyers are not seeking bail right now. However,

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Speaker 1: they do have the right to do so later if

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Speaker 1: they so choose. Mangoni is facing both federal and state

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Speaker 1: murder charges, with potential penalties including life in prison without parole.

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Speaker 1: We go to the financial markets next. The head of

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Speaker 1: our investment management, Kathy Wood, welcomes looser regulations once President

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Speaker 1: electromp begins his term. That would include areas of technology, cryptocurrencies,

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Speaker 1: and digital assets. Here is Wood speaking in an interview with.

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Speaker 7: Bloomberg Now that we're going to get more regulatory green lights.

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Speaker 7: Seeing institutional investors focus on this new asset class and

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Speaker 7: as they're learning about it, they're saying, wait a minute,

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Speaker 7: this new asset class, or this component of a new

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Speaker 7: asset class, bitcoin is going to reach twenty one million

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Speaker 7: units out there. Twenty one million bitcoin out there at

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Speaker 7: its peak.

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Speaker 1: That is Kathy Wood, head of ARC Investment Management. And

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Speaker 1: that is news when you want it with Bloomberg News Now,

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Speaker 1: I'm Doug Krisner, and this is Bloomberg