Speaker 1: Live from the Bloomberg Interactive Broker Studios. This is Bloomberg
Speaker 1: day Break for Friday, March two. Coming up this hour,
Speaker 1: President Biden push us for Russia to be removed from
Speaker 1: the G twenty, Vladimir Selinski, Skalds Nate el for not
Speaker 1: to flying a no fly zone over Ukraine, and world
Speaker 1: leaders continue their SunNet on the war. We're iam Brussels
Speaker 1: and Poland. With the very latest reaction to New York
Speaker 1: Mayor Adams exempting athletes and performers from vaccine mandates. Was
Speaker 1: the House Committee investigates the wife of Justice Clarence Thomas,
Speaker 1: Michael Barr More ahead, I'm John stash Are in sports,
Speaker 1: Mike Sachetski's coaching career not over yet. Duke advances in
Speaker 1: the n C Double A Tournament Gonzaga in Arizona. Law
Speaker 1: St Peter's plays tonight. That's all straight ahead on Bloomberg
Speaker 1: day Break on Bloomberg elim Intrio, New York, Bloomberg one, Washington,
Speaker 1: d C, Bloomberg one, O six Horn, Boston, Bloomberg nine sixties,
Speaker 1: San Francisco, Sirius x M one nineteen and around the
Speaker 1: world on Bloomberg Radio dot Com and via The Bloomberg Business.
Speaker 1: A good morning. I'm John Tucker, I'm Nathan Hager. Futures
Speaker 1: are moving a little bit lower to close out the week.
Speaker 1: We're coming up to five oh one on Wall Street.
Speaker 1: We checked the markets every fifteen minutes during the trading day.
Speaker 1: On Bloomberg. Future is fluctuating between gains and losses this morning.
Speaker 1: Right now, SMP futures are down four point, staff futures
Speaker 1: down eight, nastack futures down twenty nine points. The tenure
Speaker 1: Treasury is up eight thirty seconds. The yeal two point
Speaker 1: three four percent held on the two year two point
Speaker 1: one three percent, nime X Screwed is down two point
Speaker 1: six percent, down two dollars eighty seven cents at a
Speaker 1: hundred nine dollars forty seven cents a barrel, and Comics
Speaker 1: Gold right now is down three tenths per cent or
Speaker 1: five dollars ninety cents ninety announced John Nathan will have
Speaker 1: more in the markets in a minute. But first, the
Speaker 1: latest in the war and President Biden's trip overseas. The
Speaker 1: presidentist told NATO he wants Russia out of the G twenty.
Speaker 1: Bloomberg said, Baxter begins our global team coverage. President answered
Speaker 1: the direct question of whether Russia should be removed. My
Speaker 1: answer is yes, depends on the twenty um I that
Speaker 1: was raised today, and I raised the possibility if that
Speaker 1: can't be done, if Indonesia and others do not agree,
Speaker 1: then Ukraine should be invited there to witness the proceedings.
Speaker 1: Biden also said if Russia uses either chemical or nuclear weapons,
Speaker 1: or response should be in direct retaliation, and says that
Speaker 1: military supplies are going into Ukraine on a continuing basis.
Speaker 1: In San Francisco, I'm at Baxter Bloomberg Day Break. Okay,
Speaker 1: and thanks. It is another busy day for President Biden.
Speaker 1: He's just wrapped up meetings with European Commissioned President Ursula Vonderlyne.
Speaker 1: Let's go live to London and get the very latest
Speaker 1: with Bloomberg's Max Ramsey. Good morning, Max, Morning to you,
Speaker 1: Nathan and John. Yes, what actually EXPERCT expecting to hear
Speaker 1: from President Biden alongside the head of the European Commission
Speaker 1: ASCID of Underland any moment now that address this new
Speaker 1: supply deal that was just announced in the past thirty minutes,
Speaker 1: We'll say we'll see America supply EU nations with at
Speaker 1: least fifteen billion cubic meters of all energy by the
Speaker 1: end of twenty two. Remember, up to now Russia has
Speaker 1: been the biggest supplier of natural gas to Europe, so
Speaker 1: this an important step in the EU efforts to shift
Speaker 1: their energy policy away from Moscow. Live in London, Max
Speaker 1: Ramsey blooming back daybreak, Thanks Macks. The next and final
Speaker 1: staff for PROS and BNDES Europe trip Poland. That's where
Speaker 1: he plans to meet local officials and Bloomberg's age Cantroll
Speaker 1: continues our global team coverage from the Humanitarian Aid Center
Speaker 1: near the border of Ukraine. There are going to be
Speaker 1: two focuses to his meetings here today. Firstly, there's the
Speaker 1: humanitarian angle. He's going to be talking about the humanitarian crisis,
Speaker 1: which Poland has seen the tangible effects of having accepted
Speaker 1: two million of the refugees coming over the border from Ukraine.
Speaker 1: And then there's also the other side, the security side.
Speaker 1: He's expected to meet with the eight second airborn here
Speaker 1: in Jeeshov, and there's going to be talked about this
Speaker 1: effort to bolster the eastern flank of NATO. Bloomberg's age
Speaker 1: Cantrill says, Poland he is taking in the bulk of
Speaker 1: rafugees from Ukraine. It's winning praise for the move, but
Speaker 1: it's also causing political and economic stress. A meantime, John
Speaker 1: Ukrainian President Vladimir Zolensky is scolding NATO leaders for not
Speaker 1: responding to his request for a no fly zone. During
Speaker 1: his late night address to the European Council summit in Brussels,
Speaker 1: the Ukrainian President asked for more weapons and tighter sanctions
Speaker 1: on Russia. What do we need for this? Ukraine is
Speaker 1: very specific in answering this question. First, to intentify sankings
Speaker 1: against Russian aggression on a weekly basis until it stops
Speaker 1: and restores peace. For second, take part in the creation
Speaker 1: of a new system of security guarantees for Ukraine for
Speaker 1: a region real guarantees. President Zelenski also called out Hungary
Speaker 1: in his remarks, asking Prime Minister Victor Orban to shun
Speaker 1: Russia and fully support Ukraine. Manytime there's more concerned about
Speaker 1: Shot is showing support for Russia. Bloomberg News has learned
Speaker 1: to the officials suspect Beijing may supply semi conductors at
Speaker 1: other tech hard to Moscow. It would be part of
Speaker 1: an effort to soft the impact of sanctions. Russie and
Speaker 1: China denied any request for abre made or accepted, and
Speaker 1: now some other news were following this morning. Keeps us
Speaker 1: in China, John, the mystery is deepening over that commercial
Speaker 1: plane crash from Monday. All on two people on the
Speaker 1: China Eastern Airlines going seven thirty seven are presumed dead. Bloomberg.
Speaker 1: Stephen Angle has the latest. Well, the latest is that
Speaker 1: authorities have indicated they have found potentially a piece of
Speaker 1: the aircraft about ten kilometers away from the main wreckage site,
Speaker 1: about six miles away, and that potentially indicates that something
Speaker 1: came off the aircraft midflight. And the questions now are
Speaker 1: if that piece was from the airplane, did that cause
Speaker 1: the plane to go into that nose dive and crash.
Speaker 1: Bloomberg Stephen Angle reports the flight went down without an
Speaker 1: emergency radio call from pilots. Let's take a hard turn
Speaker 1: down to the economy of the Marketston, your treasury yields
Speaker 1: this morning coming in at two thirty four, and let's
Speaker 1: head to Europe right now. Breaking news President Biden delivering
Speaker 1: his statement with the EU Commissioned President Dependence on Russian
Speaker 1: energy putent has issued Russia's energy resources, that's course, and
Speaker 1: manipulate his neighbors. That's how he's used it. He's used
Speaker 1: the profits to drive his war machine. That's why earlier
Speaker 1: this month, I announced the United States would ban all
Speaker 1: imports of Russian energy to make it clear that American
Speaker 1: people would not be part of subsidizing pudent, brutal, unjustified
Speaker 1: war against people of Ukraine. At the time, I noted
Speaker 1: that we were able to take this steps when others
Speaker 1: could not because the United States is a net exporter
Speaker 1: of energy with a strong domestic industry, and the United
Speaker 1: States welcomed the European Union's powerful statement earlier this month
Speaker 1: committing to rapidly reduce his dependence on Russian gas. Today,
Speaker 1: we've agreed on a joint game plan towards that goal,
Speaker 1: while accelerating our progress towards a secure, clean energy future.
Speaker 1: This initiative focuses on two core issues. One, helping Europe
Speaker 1: reduces dependency on Russian gas as quickly as possible. Secondly,
Speaker 1: reducing Europe's demand for gas overalls and trustworthy data flows
Speaker 1: between the EU and US, safeguarding privacy and civil liberties.
Speaker 1: And I really want to thank Commissioner Renders and Secretary
Speaker 1: Raimondo for their tireless efforts over the past month to
Speaker 1: finish a balance and effective solution. This is another step
Speaker 1: in our strengthening our partnership. We managed to balance security
Speaker 1: and the right to privacy and data protection. Mr President
Speaker 1: did Joe put In is trying to turn back the
Speaker 1: clock to another era, an era of brutal use of force,
Speaker 1: of power, politics of spheres of influence and internal repression.
Speaker 1: I am confident he will fail. We are working together
Speaker 1: to forge a peaceful, prosperous, unsustainable future and I know
Speaker 1: we will succeed. Thank you very much. The European Commissioned
Speaker 1: President Urselav underlying there, speaking alongside President Biden, who addressed
Speaker 1: the group earlier this meeting earlier Ian Brussels. There the
Speaker 1: announcement with both of them on an agreement to wean
Speaker 1: Europe off its dependence on Russian energy and let's take
Speaker 1: a deeper dive into this agreement and the latest developments.
Speaker 1: Were joined along with my co anchor Nathan Hagar with
Speaker 1: Greg Valier, the chief US policy strategist at a g
Speaker 1: F Investment. Greg, another display of a united front. Your
Speaker 1: take this morning, well, You're absolutely right. I think the
Speaker 1: unity is really quite impressive, as many people have commented,
Speaker 1: and I would agree. I don't think Vladimir Putin expected
Speaker 1: this kind of unity, so it's a good sign. But
Speaker 1: when it comes to all the energy stuff, the devil
Speaker 1: will be in the details. A lot to be worked
Speaker 1: out in terms of infrastructure to accept natural gas in
Speaker 1: Western Europe. Yeah, I'm no logistics expert, but I can
Speaker 1: tell you that Germany, for instance, doesn't have an energy terminal,
Speaker 1: at least at the moment, exactly right. You know, maybe
Speaker 1: in a couple of years they will, but I don't
Speaker 1: think it's going to be imminent, and that's that's a problem.
Speaker 1: There's other issues as well, including huge U S shipments
Speaker 1: to Asia. Will they have to slow Will that drive
Speaker 1: China to burn more coal? In many respects, Despite what
Speaker 1: Joe Biden said a few minutes ago, this is not
Speaker 1: a good story for the environmental movement. It relies even
Speaker 1: more on fossil fuels. I think, Greg, it's Nathan Hey Grint.
Speaker 1: I have to think that this announcement, with the details
Speaker 1: still need to be worked out, it can only add
Speaker 1: to the volatility we've seen in the energy markets. What
Speaker 1: do you think is going to happen with the price
Speaker 1: of natural gas, the price of oil with this going forward, Well,
Speaker 1: it's it should keep the price pretty elevated, Nathan. I
Speaker 1: don't know if it's gonna go a lot higher, but
Speaker 1: energy continues to be a big uncertainty. You know. I'd
Speaker 1: probably walk back and look at the big picture after
Speaker 1: what we've just heard and conclude that there is this
Speaker 1: remarkable unity that the Russians I think are facing a
Speaker 1: depression with a capital D over the next few months. Yea.
Speaker 1: I wanted to ask a little bit about that because
Speaker 1: in the lead up, even before the invasion, there were
Speaker 1: a lot of questions about whether Germany in particular would
Speaker 1: be on board with tightening the kinds of energy sanctions
Speaker 1: that Ukraine in particular has been looking forward. Do you
Speaker 1: get the sense now, after these emergency summits in Brussels,
Speaker 1: that we are seeing more unity between the US and
Speaker 1: NATO and Europe when it comes to Russia. Yeah, I do.
Speaker 1: I think that the Germans still have to be persuaded
Speaker 1: on a lot of the LG activity as we just discussed,
Speaker 1: but I would say that most all of Europe is
Speaker 1: on board. There are a lot of countries that aren't India,
Speaker 1: isn't China, probably isn't Uh. To me, the key country
Speaker 1: in the next few weeks is going to be Turkey,
Speaker 1: of all places, I think the Turkish Prime Minister could
Speaker 1: be an important intermediary. So you're getting an awful lot
Speaker 1: of countries trying to help, trying to bring this to
Speaker 1: a close. Greg Ursula wonder lying thing at the end
Speaker 1: of her address there that the sanctions are draining Putin's resources.
Speaker 1: Does that mean a dangerous man is backed in the
Speaker 1: corner and becomes more dangerous. Well, that's the fear, isn't it.
Speaker 1: I mean you've got the oligarchs are are furious with him.
Speaker 1: The generals who have five of their colleagues who have
Speaker 1: been killed on the battlefield are I think increasingly skeptical
Speaker 1: of Putin, and I think ordinary Russians, who see their
Speaker 1: standard of living declining, are also beginning to turn against him.
Speaker 1: As the ruble is worth less than a penny, his
Speaker 1: interest rates succeed. It's a very dire economic situation. And
Speaker 1: then to compound everything, you see this totally inept performance
Speaker 1: on the battlefield by Russian troops facing Ukrainian troops who
Speaker 1: are willing to die for their country. I don't think
Speaker 1: a lot of Russian troops are willing to die for
Speaker 1: Vladimir Putin, so it's a pretty grim scenario right now
Speaker 1: for him, thankfully. Yeah, and I got to say, I
Speaker 1: was just struck by a headline that cross the Bloomberg
Speaker 1: terminal moments to go from Russian Farm Minister Sergei lavrov
Speaker 1: Uh speaking this morning, saying the West wants to destroy
Speaker 1: Russia's economy and Russia itself. What does that say about
Speaker 1: where Russia could be taking this war, the idea that
Speaker 1: Vladimir pu might be getting backed into a corner at
Speaker 1: this point he could be You can't you can't rule
Speaker 1: it out. I think that despite the fact that a
Speaker 1: lot of Ukrainians are unwilling to make big concessions, considering
Speaker 1: all the sacrifices they've made. But I do think there's
Speaker 1: got to be a renewed focus on negotiations of trying
Speaker 1: to give Putin the one thing he needs, and that's
Speaker 1: an offer, ramp Uh, an excuse for him to declare
Speaker 1: somewhat of a victory. That victory would be Ukraine's reluctance
Speaker 1: to join NATO. Anytime soon. I think Putin would hail
Speaker 1: that has a big accomplishment, and he might get to
Speaker 1: keep some of the Eastern provinces, he might get to
Speaker 1: keep crimea things like that. But without an offer ram
Speaker 1: from Putin, I agree with you. I think this is
Speaker 1: a very unnerving situation where he becomes even more unpredictable.
Speaker 1: We're not going to forget the human suffering in Ukraine
Speaker 1: by any means. But Greg, being at Washington, I have
Speaker 1: to ask you this question, how does this play with
Speaker 1: the mid term elections approaching? Well, First and foremost, I
Speaker 1: think this has been remarkable to see both parties pretty
Speaker 1: much unified. On the extremes. There are some dissenters, you know,
Speaker 1: uh Tucker Carlson, people like that, But I would say,
Speaker 1: in general, you have tremendous support for confronting Russia, and
Speaker 1: that's a good story for Biden. But the recent polls
Speaker 1: that I've seen over the last week or so don't
Speaker 1: show any increase in Biden's job approval rating, and he
Speaker 1: still has other big problems inflation, urban crime, illegal immigration.
Speaker 1: So I would have to say, you know, despite this
Speaker 1: unity with Biden and NATO, the Democrats are clear underdogs
Speaker 1: to keep the house. Greg a pleasure, Thanks very much
Speaker 1: for joining us this morning. Greg Valier, the chief US
Speaker 1: policy strategist at a gap investment with this this morning
Speaker 1: and ahead of the cash open up. Wall Street dowth
Speaker 1: futures right now fourteen points lower. Little change right now, say,
Speaker 1: with the S and P five hunted down just three,
Speaker 1: the nines day futures are twenty four points lower. This
Speaker 1: is Bloomberg day Break. The Bloomberg weather from Road Carola
Speaker 1: becoming apparently Sunday mild today high sixty to sixty five
Speaker 1: and tomorrow Saturday any morning sun giving way to clouds,
Speaker 1: maybe a shower. The heights aperture fifty five degrees. Broadcasting
Speaker 1: live from the Bloomberg Interactive Broker Studio in New York.
Speaker 1: Bloomberg Living Freedom to Washington, d C, Bloomberg N one
Speaker 1: to Boston, Bloomberg one O six one to San Francisco,
Speaker 1: Bloomberg M sixty to the Country, Sirius XM to A
Speaker 1: one nine and around the globe, the Bloomberg Business apt
Speaker 1: and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's
Speaker 1: five thirty on Wall Street. Good morning on John Tucker
Speaker 1: and I'm Nathan Hagar. We're just about four hours away
Speaker 1: from the open of US trading. Let's get you up
Speaker 1: to date on the news you need to know at
Speaker 1: this hour. President Biden cante used his trip in Europe.
Speaker 1: This morning. He has met with European Commissioned President Ursula
Speaker 1: vunder Lyine. Moments ago, he announced an agreement to boost
Speaker 1: the supply of liquefied natural gas to European countries. These
Speaker 1: steps will increase energy security, economic security, and national security.
Speaker 1: We're gonna stand up joint task force to molement these changes,
Speaker 1: drive progress that will be co chaired by representatives from
Speaker 1: the White House and the President of the European Unions Team.
Speaker 1: President Biden says the agreement DAMES to help Europe wean
Speaker 1: itself from Russian fuel. Moscow has been the main focus
Speaker 1: of the submoity in Europe. Yesterday, President Biden called Fort
Speaker 1: Runcha to be removed from the G twenty. He also
Speaker 1: warned Vladimir Putin against using biological, chemical or nuclear weapons
Speaker 1: in Ukraine. Bloom Briggs Maria Today, oh has more from Brussels.
Speaker 1: The symbolic nature of the STRIMP was huge, and yesterday
Speaker 1: we did get the show of unity. The President of
Speaker 1: the United States summarized it very well. He said, when
Speaker 1: Vladimer Putting invaded Ukraine, he was looking to create ko
Speaker 1: us in disarray in Europe. The reality is at this
Speaker 1: point we're more united than we've ever been. And that
Speaker 1: was echoed by the Secretary General of NATO who said,
Speaker 1: at this point where the strongest military allies and the
Speaker 1: world we stayed together, we stick together, We are going
Speaker 1: to be safe. Bloomberg Maria Today reports the Ukrainian President,
Speaker 1: Flodimer Zolinski is asking NATO for more weapons and tighter
Speaker 1: sanctions on Russia. I meantime, John, there's more concerned about
Speaker 1: China showing support for Russia, and Bloomberg News has learned
Speaker 1: EU officials suspect Beijing may supply semiconductors and other tech
Speaker 1: hardware to Moscow. It would be part of an effort
Speaker 1: to soften the impact of sanctions. Russia and China have
Speaker 1: denied any requests for aid were made or accepted. And
Speaker 1: another story we're following this morning, Nathan, the mystery deepening
Speaker 1: over the crash of that China Eastern Airlines Boeing seven
Speaker 1: thirties seven. At least one piece of the plane appears
Speaker 1: to a broken loose well before impact. It was found
Speaker 1: about six miles away from the main wreckage area. That
Speaker 1: is raising questions about the condition of the plane. Would
Speaker 1: have begun a steep nosedive from nearly thirty thousand feet.
Speaker 1: All one thirty two people on board are presumed dead night.
Speaker 1: Let's check the markets ahead of the Friday morning open.
Speaker 1: The SMP futures right now are down four points, Stown
Speaker 1: futures down twenty four. Nasdaq futures are lower by twenty
Speaker 1: three points. The tenure Treasury is up five thirty seconds,
Speaker 1: the yield two point three five percent yield down, the
Speaker 1: two year two point one four nime X screwed is
Speaker 1: down two point four percent or two dollars seventy three
Speaker 1: cents at a hundred nine dollars sixty one cents in barrel,
Speaker 1: and Comex gold is down two tenths per cent or
Speaker 1: four dollars forty cents. In nineteen sixty three, thirty announced
Speaker 1: straight ahead your latest local headlines and a check of sports.
Speaker 1: This is Bloomberg hesive thirty three on Wall Street. Time
Speaker 1: to bring in Michael Barr with more of what else
Speaker 1: is going on to New York and around the world. Jeahn,
Speaker 1: thank you very much. Their New York City unions are
Speaker 1: blasting Mayor Eric Adams after he exempted athletes and performers,
Speaker 1: including Brooklyn net starre Kyrie Irving, from the city's vaccine mandate.
Speaker 1: This after about fourteen hundred city workers were fired last
Speaker 1: month for failing to comply with the mandate. Harry nest Pole,
Speaker 1: head of the Municipal Labor Committee, said the city should
Speaker 1: offer away for fired workers to get their jobs back.
Speaker 1: Don't shut the door on them. Not when they had
Speaker 1: to come to work, when everybody was running out to
Speaker 1: the Hampton's and everybody's running up State New York and
Speaker 1: the only people here with city works. Harry nest Poley,
Speaker 1: head of the Municipal Labor Committee. However, Mayor Adams says
Speaker 1: his move will help struggling performers as well as those
Speaker 1: vendors and smaller businesses that rely on the city's entertainment economy.
Speaker 1: We created an unfair disadvantage to New York based performance.
Speaker 1: I'm correcting that unfair disadvantage, and I'm doing it at
Speaker 1: the appropriate time when our numbers are low. Mayor Eric Adams.
Speaker 1: It's an extraordinary development in the ongoing investigation into the
Speaker 1: January sixth rioting last year on Capitol Hill. The House
Speaker 1: Committee is now examining dozens of text messages sent to
Speaker 1: President Trump's chief of Staf Mark Meadows. According to several reports,
Speaker 1: Virginia Thomas, wife of Justice Clarence Thomas, texted Meadows urging
Speaker 1: him to keep challenging the election results. North Korea's leader,
Speaker 1: Kim John Une, told state media that he's getting ready
Speaker 1: for a confrontation with the United States. The report came
Speaker 1: after North Korea launched its largest intercontinental ballistic missile yesterday,
Speaker 1: drawing international condemnation. Retired General Robert Abram's, former commander of
Speaker 1: US forces in Korea, is calling for tougher sanctions on
Speaker 1: North Korea. The sanctions that North Korea is under today
Speaker 1: pale in comparison to what the international community has done
Speaker 1: in very short order to Russia. So we should look
Speaker 1: very hard at that. Retired General Abrams spoke to ABC
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg quick Take, powered by more than journalists, analysts
Speaker 1: more than a hundred twenty countries. I'm Michael Barr. This
Speaker 1: is Bloomberg. John Michael, thank you. He is five six
Speaker 1: Wall Street, this time for the Boober Sports updates. Can
Speaker 1: Good morning John, Good morning John. The upsets continue in
Speaker 1: the n C Double A tournament has to One Seeds
Speaker 1: went down. Arkansas had never beat No. One seed in
Speaker 1: the n C Double as the Razorbacks beat Gonzaga six eight,
Speaker 1: and then Arizona ousted by Houston seventy two sixty four
Speaker 1: to two. Seeds did win Villanova sixty three fifty five
Speaker 1: over Michigan, and Duke moves on trail at the half.
Speaker 1: But against Texas Tech, the nation's top defensive team, Duke
Speaker 1: scored forty nine points and won seventy eight seventy three.
Speaker 1: So Duke is gonna? Is Duke gonna go to the
Speaker 1: Final four in micro Eskin's final season. We'll find out
Speaker 1: tomorrow against Arkansas. Villanova will play Houston. Four more Sweet
Speaker 1: Sixteen games tonight, including Cinderella St. Peter's taken on Perdue
Speaker 1: in Philadelphia. The Pea coops have been letting the postseason
Speaker 1: by Doug Eatard. He says they have nothing to lose tonight,
Speaker 1: no pressure at all. Honestly, there's no pressure at all.
Speaker 1: Um I think that, Uh, there's there's nothing that shared.
Speaker 1: There's nothing really that's different. Now we've we've been playing
Speaker 1: basketball this whole season. We've been uh, we had our
Speaker 1: ups and downs, and we're just gonna look forward to
Speaker 1: keep executing the game plan and just keeping what we've
Speaker 1: been doing. Also in Philly, use c l A plays
Speaker 1: North Carolina, battle of college basketball traditional powers. In Chicago,
Speaker 1: it's Kansas against Providence and two double digit seeds meet
Speaker 1: Miami plays Iowa State. N i t A has its
Speaker 1: Final four next week at the Garden, where the n
Speaker 1: i T, except for last year, has concluded every year
Speaker 1: since the tournament began in eighteen thirty eight. Now we're
Speaker 1: the n i T Final four. The next two seasons
Speaker 1: will not take place in New York. It's not known
Speaker 1: where it will be. John stash Award Bloomberg Sports don't
Speaker 1: all right, John, thanks very much. It is five thirties
Speaker 1: seven on Wall Street, timed out for the Tri State
Speaker 1: Business Report. After that, we're joined by Bloomberg's Ed Quarry.
Speaker 1: Sources tell Bloomberg Blackstone's exploring a large office expansion in Manhattan,
Speaker 1: seeking space at a time when many companies are embracing
Speaker 1: hybrid schedules. The New York based private equity firm is
Speaker 1: hunting for about one and a half million square feet
Speaker 1: of ADS as it considers relocating from its Park Avenue headquarters.
Speaker 1: Connecticut residents can expect some relief at the gas bump.
Speaker 1: Governor Ned Lamont Thursdays signed to bipartisan bill to temporarily
Speaker 1: lift the state's gasoline tax. House and Senate lawmakers Wednesday
Speaker 1: voted unanimously in favor of suspending the state's twenty five
Speaker 1: cents a gallon excise tags on gasoline. Starting April one,
Speaker 1: New Jersey's Cannabis Board took its first formal action on
Speaker 1: recreational marijuana applications, approving sixty eight conditional licenses to cultivate, manufacture,
Speaker 1: or run a testing lab. In all, three hundred seventy
Speaker 1: one more applications are being evaluated now. Drew Bloomberg try
Speaker 1: State Business Report. I'm ind Corey all right, thanks said,
Speaker 1: It is five thirty eight on the Wall Street. Bloomberg
Speaker 1: Radio is on the air from San Francisco to New York,
Speaker 1: London to Hong Kong. Let's check in now with their
Speaker 1: global news team for some of the top stories heard
Speaker 1: on our three hundred affiliate radio stations around the world.
Speaker 1: I'm Steve poto Stan on ten ten Wins in New York.
Speaker 1: We're talking about how has more people returned to gym workouts.
Speaker 1: Wall Street is pouring millions in the companies that owned
Speaker 1: gym um Courtney Donaho on Carol Dan Dallas Southwest will
Speaker 1: allow customers to transfer the value of the council ticket
Speaker 1: to someone else. I'm Gina Servetti in for w fl
Speaker 1: A in Orlando. I'm reporting that Olive Garden's owner is
Speaker 1: looking at raising menu prices again to cover its rising costs.
Speaker 1: I'm Carolyn Hip complained bag D a B Digital Radio
Speaker 1: in London. Women porting on a slump in UK retail
Speaker 1: sales and soft consumer confidence as the cost of living
Speaker 1: crunch hits consumers. I mean Corey on w w T
Speaker 1: A M in Cleveland. I'm reporting Great Lakes Brewing is hired,
Speaker 1: Boulevard Brewing Brewmaster is its news ceoo. Yeah, those are
Speaker 1: some of these stories are twenty seven hundred Bloomberg journalists
Speaker 1: and analysts are working on this morning around the world.
Speaker 1: It's five thirty nine on Wall Street. The following is
Speaker 1: an editorial from Bloomberg Opinion. This senatorial was written by
Speaker 1: the Bloomberg and Atorial Board. Questions about the US commitment
Speaker 1: to Asia flourished even before Russia's shocking invasion of Ukraine.
Speaker 1: With Europe now demanding more attention, those doubts will only grow.
Speaker 1: That makes it crucial for US President Joe Biden to
Speaker 1: address the issue. Indo Pacific nations care about the most
Speaker 1: economic engagement. Unfortunately, the Administration's vague Indo Pacific Economic framework
Speaker 1: won't excite countries that want more access to US markets.
Speaker 1: In effect, it pushes them to sign onto American priorities
Speaker 1: without offering much in return. There is a better alternative.
Speaker 1: The US instead should seek to join the eleven member
Speaker 1: Comprehensive and Progressive Transpacific Partnership or cpt p P that
Speaker 1: would demonstrate the commitment to economic engagement that countries in
Speaker 1: the region really want to see. This editorial was written
Speaker 1: by the Bloomberg Editorial Board. For more Bloomberg opinion, please
Speaker 1: go to Bloomberg dot com, Slash Opinion or O P
Speaker 1: I N go on the Bloomberg terminal. This has been
Speaker 1: Bloomberg Opinion. Bloomberg Opinion editorial is gonna be heard every
Speaker 1: weekday at this time and terminal customers can read more
Speaker 1: in I P I n GO. You're listening to Bloomberg
Speaker 1: day Break Bloomberg Weather for It today from meturologists Rob Carlin,
Speaker 1: becoming partly study. Gonna be a mild day. The high
Speaker 1: temperature sixty to sixty five tomorrow morning, So I'm giving
Speaker 1: reddick clouds, maybe a shower. The high temperature be limit.
Speaker 1: US needs markets, headlines and breaking news twenty four hours
Speaker 1: a day at Bloomberg dot Com, the Bloomberg Business at
Speaker 1: and at Bloomberg Quick Tape Greece. He's a Bloomberg Business
Speaker 1: Flash Nathan Hagar. Stocks are struggling for traction this morning
Speaker 1: as investors evaluate the economic risks from federal reserve policy
Speaker 1: tightening and Russia's war in Ukraine. We checked the markets
Speaker 1: every fifteen minutes during the trading day on Bloomberg SMP
Speaker 1: futures are little change down, futures up two points, NASTACK
Speaker 1: futures lower by four. The decks in Germany is up
Speaker 1: two tenths percent, the CACK and Paris up one tenth
Speaker 1: of one percent. The tenure treasury is up six thirty seconds.
Speaker 1: The yield two point three five percent yield on the
Speaker 1: two year two point one five percent. Nim X crew
Speaker 1: down two percent, down two dollars nineteen cents at a
Speaker 1: hundred ten dollars eighteen cents of barrel comes to gold
Speaker 1: down a quarter percent, or four dollars eighty cents at
Speaker 1: nineteen sixty two ninety announce. The Euro is at one
Speaker 1: point one zero one two against the dollar, British pound
Speaker 1: one point three six eight, the end is at one
Speaker 1: one point five six and Bitcoin right now is up
Speaker 1: six tenths percent right trading right around forty four thousand
Speaker 1: dollars at ten am all street time, we get February
Speaker 1: pending home sales and the University of Michigan Sentiment Index.
Speaker 1: That's a Bloomberg business flash. And now here's Michael Barr
Speaker 1: with more on what's going on around the world. Good morning, Michael,
Speaker 1: Good morning, Nathan. President Biden announced the United States and
Speaker 1: European Union have a new partnership to reduce the continent's
Speaker 1: reliance on Russian energy, start of a year's long initiative
Speaker 1: to further isolate Moscow after its invasion of Ukraine. The President,
Speaker 1: speaking in Poland, says, as part of the plan, the
Speaker 1: US and other nations will increase liquefied natural gas exports
Speaker 1: to Europe. Jersey City St. Peter's Peacocks look to keep
Speaker 1: their surprise running the n C Double A tournament and
Speaker 1: when they are going to play for due tonight. The
Speaker 1: Peacocks are the third fifteenth seed to make the Sweet
Speaker 1: sixteen and are trying to become the first to get
Speaker 1: to the Elite eight in the NHL. The Islanders won
Speaker 1: global news twenty four hours a day on air and
Speaker 1: on Bloomberg Quick Take Power by more than twenty d
Speaker 1: journalists analysts more than a hundred twenty countries. Michael bar
Speaker 1: this is Bloomberg, alright, Michael, thank you. Five and forty
Speaker 1: nine on the Wall. Streeper line from the Bloomberg interranto
Speaker 1: Broker's studios, and she said, the European leaders and President
Speaker 1: Biden wrapping up meetings and Russell's focused almost entirely on
Speaker 1: Russia's war in Ukraine. And we did here earlier this
Speaker 1: hour from President Biden and the europe Pan Commissioned President
Speaker 1: Vers underlying announcing a deal to help wean Europe off
Speaker 1: Russian energy. Let's get more now. Line from Brussels, and
Speaker 1: that's where we find our corresponded Maria today, Maria, good
Speaker 1: morning to you. Another show of unity. Just how important
Speaker 1: well it is, and you know, I think you have
Speaker 1: to separate always the symbolic nature of a lot of
Speaker 1: these meetings with the real detail. When it comes to
Speaker 1: the symbolic nature of this, we did see a show
Speaker 1: of unity. We heard from the President of United States,
Speaker 1: but also NATO and all the European countries say we
Speaker 1: are aligned on this and this is a barbaric war
Speaker 1: that Puttin has instigated. But the reality is he's getting
Speaker 1: the opposite of what he wanted. We're more united than
Speaker 1: we've ever been, and that was echoed pretty much by everyone,
Speaker 1: the Secretary General of NATO but also the French President
Speaker 1: repeating uh this line that everyone is now on their
Speaker 1: feet to try to counter this terrible war and try
Speaker 1: to put Vladimir Putting in the corner. The big question, however,
Speaker 1: is how is he going to respond to this, especially
Speaker 1: because as you see, Russia is facing huge economic isolation.
Speaker 1: It's been essentially shut off from normal financial markets. And
Speaker 1: now today we had a new energy deal between the
Speaker 1: United States and the European Union, about energy being shipped
Speaker 1: over to Europe. So there is a clear commitment now
Speaker 1: from the European Union to move away to from Russia
Speaker 1: and the energy sector and this is a big money maker. Yeah,
Speaker 1: this also raises some logistical questions if I'm not mistaken correctly,
Speaker 1: But Germany doesn't even have any energy import facilities, does it. Yeah,
Speaker 1: And you know the reality is when you look at
Speaker 1: energy facilities Germany, Uh, you know, it doesn't have the
Speaker 1: infrastructure off It's it's very unclear how they can get
Speaker 1: this going very quickly. And you know, it's it's it's
Speaker 1: it's it's unclear. You know, how can they do this
Speaker 1: very quickly? Well, you know they they'll tell you we
Speaker 1: we want to accelerate this transition. In fact, today there
Speaker 1: was a headline that says Germany aims for four kind
Speaker 1: of dependency from Russia. But the government is going to
Speaker 1: have to get very creative about the infrastructure, and it's
Speaker 1: gonna have to get very creative about the way it
Speaker 1: does this thing in the months ahead of the next winter. Remember,
Speaker 1: the biggest preoccupation for the EU is not the two
Speaker 1: to three winters down the line, but it really is.
Speaker 1: A winter season is coming up in a few months.
Speaker 1: I remember when you look about storage facilities, this is
Speaker 1: really a story that begins now. I know it seems
Speaker 1: strange to talk about the winter when we're in spring
Speaker 1: and you know the weather is completely different, But the
Speaker 1: reality is, you know very well that you plan a
Speaker 1: year ahead. So this conversation really has to begin now
Speaker 1: because the storage and some of the purchases will have
Speaker 1: to get done immediately. Do is vladimer' Zelinski getting everything
Speaker 1: he wants from NATA at this point? Well, you know,
Speaker 1: it's it's it's uh, it's it's Varmerzeninski has spoken clearly
Speaker 1: about the need for airplanes and the need to shut
Speaker 1: up the sky and the need to get uh, you know,
Speaker 1: additional help to help protect his country. It's been a
Speaker 1: month of war so far, he's had a major reality check.
Speaker 1: The Natives are not going to come and help the country.
Speaker 1: The native is not going to fight this. Yesterday that
Speaker 1: with native trying to explain this was by saying, uh,
Speaker 1: you know, we want to help as much as we can,
Speaker 1: but we are not belligerents here. We were not going
Speaker 1: to fight. So for them, it really is about keeping
Speaker 1: a flow weapons from the West into the country. And
Speaker 1: this is why this meeting today between President Biden, who's
Speaker 1: on his way out to Poland by the way, with
Speaker 1: the Polish president uh Mr Doola, will be so important
Speaker 1: because Poland is a distribution hub for big weapons into Ukraine.
Speaker 1: And the President Biden, as you say, headed to to Poland.
Speaker 1: He'll tell the humanitarian after there. The refugees also going
Speaker 1: to meet with the members of the eighty second Airborne
Speaker 1: Marie Zadeo live from Brussels this morning. Thanks very much.
Speaker 1: We appreciated, Nathan. All Right, John, Thanks, It's five fifty
Speaker 1: three on Wall Street. It's time for a Bloomberg Law Report.
Speaker 1: Let's get to the legal stories we're watching this morning.
Speaker 1: Here's Bloomberg's Jeff Phalinger. The U S Council for International
Speaker 1: Business reiterated its concerns about new regulations on the Foreign
Speaker 1: Tax Credit and again urged the Treasury to delay implementing them.
Speaker 1: Amazon is facing a tougher fight if it hopes to
Speaker 1: keep its warehouses non union. The a f l c
Speaker 1: i O is joining the Teamster's efforts to unionize the
Speaker 1: facilities and Environmental group told the federal court that the
Speaker 1: environmental protection agencies failure to approve or reject revised water
Speaker 1: quality standards in Montana is a violation of federal law.
Speaker 1: Bloomberg Law everything you need, all on one legal research platform,
Speaker 1: including guidance analysis and Bloomberg Market Intelligence. Find out more
Speaker 1: at Boomberg Law dot com. Now, another legal story we're
Speaker 1: watching brings us to the issue of redistricting. A divided
Speaker 1: Supreme court gave a victory to the Republican controlled Wisconsin legislature.
Speaker 1: Tassa got a state ruling that adopted voting maps crafted
Speaker 1: by the Democratic governor. For more in the case, Bloomberg's
Speaker 1: June Grosso speaks to Columbia law professor Richard Brefalt. The U. S.
Speaker 1: Supreme Court left in place the governor's congressional maps, but
Speaker 1: throughout the governor's legislative maps. Right What the U. S.
Speaker 1: Supreme Court said was that the governor's decision, which the
Speaker 1: state Supreme Court accepted, that the voting rights fact required
Speaker 1: an additional black majority district in the Milwaukee area, and
Speaker 1: that doing that wouldn't violate the Fourteenth Amendment. The U. S.
Speaker 1: Supreme Court said the governor and the state Supreme Court
Speaker 1: neither of them did enough to show that that was correct,
Speaker 1: they failed to show that the Voting Rights Act required
Speaker 1: the US and therefore they failed to show that it
Speaker 1: didn't violate the Fourteenth Amendment, and therefore they reversed the
Speaker 1: decision to pick the Assembly in the Senate maps and
Speaker 1: sent it back to the state Supreme Court for further analysis,
Speaker 1: which could include keeping the governor's maps. If there was
Speaker 1: additional evidence that showed that there was a strong Voting
Speaker 1: Rights Act requirement for the additional district, is that what
Speaker 1: Supreme Court precedents called for. Because in dissent, Justice Sonia Sotomayor,
Speaker 1: joined by Justice Elaina Kagan, called the decision unprecedented and extraordinary. Yes,
Speaker 1: it's unprecedent extraordinary in several ways. For one, Normally, the
Speaker 1: burden is on the challenger to prove that race was
Speaker 1: the predominant motivating factor, whereas here the burden that seems
Speaker 1: to be being put on the governor or state Supreme Court.
Speaker 1: So one thing is that totally shifted the burden. Normally,
Speaker 1: a map gets adopted and then somebody challenges the map.
Speaker 1: The challenger says this violates people Protection Clause, and then
Speaker 1: the plaint has to make that case by showing that
Speaker 1: it was predominly motivated by race and the status to
Speaker 1: come back and defend that there was a strong basis
Speaker 1: and evidence for a Voting Rights Act violation. They've never
Speaker 1: had a case before where a similar challenge was brought
Speaker 1: to a map adopted by a state supreme court as
Speaker 1: opposed to one adopted by a legislature. Beyond that, there's
Speaker 1: a sense that the interplay between the Voting Rights Act
Speaker 1: and the fourteen Amendment is difficult. And indeed, the Supreme
Speaker 1: Court about a month ago agreed to stay a map
Speaker 1: adopted by a court in Alabama that held it over
Speaker 1: for full argument because of the murkiness of the relationship
Speaker 1: between the Voting Rights Act and the Fourteenth Amendment. But
Speaker 1: here the supporting court actually made a ruling on the
Speaker 1: merits about the burden being on the state to show
Speaker 1: that there was not an alternative means of doing it.
Speaker 1: I don't think they'd ever ruled that before, and here
Speaker 1: they're doing it in a so called shadow doted case,
Speaker 1: without oral argument, without full briefing, and really pretty close
Speaker 1: to the time where these maps have to be finalize.
Speaker 1: That's Columbia law professor Richard Brafalt speaking with Bloomberg's June Grosso.
Speaker 1: Catch more of that interview, plus analysis of the latest
Speaker 1: legal news by listening to the Bloomberg Law Show at
Speaker 1: ten pm Eastern Time on Bloomberg Radio or subscribing to
Speaker 1: the Bloomberg Law Podcast. And attorneys can find exceptional legal
Speaker 1: research and business development tools at Bloomberg Law dot com.
Speaker 1: Right now, SMP futures are up two points, staff futures
Speaker 1: up twenty five, Dance Deck features little changed at the moment,
Speaker 1: and your Treasury is up three thirty seconds. The yield
Speaker 1: two point three six percent yield on the two year
Speaker 1: two point one six percent. NIMEX crude is down one
Speaker 1: point six percent or a dollar eighty and at the
Speaker 1: hundred ten dollars at fifty six cents of barrel, and
Speaker 1: the Euro right now one point one zero zero seven
Speaker 1: against the dollar. Bloomberg Day Break continues. This is Bloomberg