WEBVTT - Bloomberg Daybreak: March 25, 2022 - Hour 1 (Radio) 0:00:03.080 --> 0:00:06.480 Live from the Bloomberg Interactive Broker Studios. This is Bloomberg 0:00:06.559 --> 0:00:10.320 day Break for Friday, March two. Coming up this hour, 0:00:10.480 --> 0:00:13.080 President Biden push us for Russia to be removed from 0:00:13.080 --> 0:00:16.240 the G twenty, Vladimir Selinski, Skalds Nate el for not 0:00:16.280 --> 0:00:18.880 to flying a no fly zone over Ukraine, and world 0:00:19.000 --> 0:00:21.919 leaders continue their SunNet on the war. We're iam Brussels 0:00:21.920 --> 0:00:24.560 and Poland. With the very latest reaction to New York 0:00:24.600 --> 0:00:28.560 Mayor Adams exempting athletes and performers from vaccine mandates. Was 0:00:28.600 --> 0:00:31.880 the House Committee investigates the wife of Justice Clarence Thomas, 0:00:32.240 --> 0:00:35.080 Michael Barr More ahead, I'm John stash Are in sports, 0:00:35.080 --> 0:00:38.280 Mike Sachetski's coaching career not over yet. Duke advances in 0:00:38.320 --> 0:00:40.760 the n C Double A Tournament Gonzaga in Arizona. Law 0:00:40.880 --> 0:00:46.240 St Peter's plays tonight. That's all straight ahead on Bloomberg 0:00:46.320 --> 0:00:51.480 day Break on Bloomberg elim Intrio, New York, Bloomberg one, Washington, 0:00:51.560 --> 0:00:55.680 d C, Bloomberg one, O six Horn, Boston, Bloomberg nine sixties, 0:00:55.680 --> 0:00:59.680 San Francisco, Sirius x M one nineteen and around the 0:00:59.680 --> 0:01:03.840 world on Bloomberg Radio dot Com and via The Bloomberg Business. 0:01:03.520 --> 0:01:10.319 A good morning. I'm John Tucker, I'm Nathan Hager. Futures 0:01:10.319 --> 0:01:12.360 are moving a little bit lower to close out the week. 0:01:12.360 --> 0:01:14.240 We're coming up to five oh one on Wall Street. 0:01:14.280 --> 0:01:16.880 We checked the markets every fifteen minutes during the trading day. 0:01:16.920 --> 0:01:20.160 On Bloomberg. Future is fluctuating between gains and losses this morning. 0:01:20.200 --> 0:01:22.880 Right now, SMP futures are down four point, staff futures 0:01:22.920 --> 0:01:26.480 down eight, nastack futures down twenty nine points. The tenure 0:01:26.480 --> 0:01:29.039 Treasury is up eight thirty seconds. The yeal two point 0:01:29.040 --> 0:01:31.520 three four percent held on the two year two point 0:01:31.520 --> 0:01:34.360 one three percent, nime X Screwed is down two point 0:01:34.440 --> 0:01:36.760 six percent, down two dollars eighty seven cents at a 0:01:36.840 --> 0:01:39.840 hundred nine dollars forty seven cents a barrel, and Comics 0:01:39.880 --> 0:01:42.039 Gold right now is down three tenths per cent or 0:01:42.080 --> 0:01:46.640 five dollars ninety cents ninety announced John Nathan will have 0:01:46.720 --> 0:01:48.400 more in the markets in a minute. But first, the 0:01:48.560 --> 0:01:52.320 latest in the war and President Biden's trip overseas. The 0:01:52.360 --> 0:01:55.960 presidentist told NATO he wants Russia out of the G twenty. 0:01:56.160 --> 0:02:00.600 Bloomberg said, Baxter begins our global team coverage. President answered 0:02:00.680 --> 0:02:03.360 the direct question of whether Russia should be removed. My 0:02:03.440 --> 0:02:07.920 answer is yes, depends on the twenty um I that 0:02:08.480 --> 0:02:12.600 was raised today, and I raised the possibility if that 0:02:12.720 --> 0:02:15.600 can't be done, if Indonesia and others do not agree, 0:02:15.760 --> 0:02:18.799 then Ukraine should be invited there to witness the proceedings. 0:02:19.240 --> 0:02:22.560 Biden also said if Russia uses either chemical or nuclear weapons, 0:02:22.639 --> 0:02:26.520 or response should be in direct retaliation, and says that 0:02:26.639 --> 0:02:30.200 military supplies are going into Ukraine on a continuing basis. 0:02:30.800 --> 0:02:33.760 In San Francisco, I'm at Baxter Bloomberg Day Break. Okay, 0:02:33.800 --> 0:02:36.280 and thanks. It is another busy day for President Biden. 0:02:36.360 --> 0:02:40.160 He's just wrapped up meetings with European Commissioned President Ursula Vonderlyne. 0:02:40.480 --> 0:02:42.560 Let's go live to London and get the very latest 0:02:42.560 --> 0:02:45.519 with Bloomberg's Max Ramsey. Good morning, Max, Morning to you, 0:02:45.639 --> 0:02:48.600 Nathan and John. Yes, what actually EXPERCT expecting to hear 0:02:48.639 --> 0:02:51.400 from President Biden alongside the head of the European Commission 0:02:51.400 --> 0:02:54.840 ASCID of Underland any moment now that address this new 0:02:54.960 --> 0:02:57.880 supply deal that was just announced in the past thirty minutes, 0:02:57.919 --> 0:03:01.480 We'll say we'll see America supply EU nations with at 0:03:01.560 --> 0:03:05.160 least fifteen billion cubic meters of all energy by the 0:03:05.280 --> 0:03:08.360 end of twenty two. Remember, up to now Russia has 0:03:08.400 --> 0:03:11.000 been the biggest supplier of natural gas to Europe, so 0:03:11.080 --> 0:03:14.280 this an important step in the EU efforts to shift 0:03:14.320 --> 0:03:17.440 their energy policy away from Moscow. Live in London, Max 0:03:17.520 --> 0:03:20.320 Ramsey blooming back daybreak, Thanks Macks. The next and final 0:03:20.360 --> 0:03:23.160 staff for PROS and BNDES Europe trip Poland. That's where 0:03:23.160 --> 0:03:26.400 he plans to meet local officials and Bloomberg's age Cantroll 0:03:26.520 --> 0:03:30.280 continues our global team coverage from the Humanitarian Aid Center 0:03:30.360 --> 0:03:32.600 near the border of Ukraine. There are going to be 0:03:32.639 --> 0:03:36.200 two focuses to his meetings here today. Firstly, there's the 0:03:36.280 --> 0:03:39.840 humanitarian angle. He's going to be talking about the humanitarian crisis, 0:03:40.000 --> 0:03:43.400 which Poland has seen the tangible effects of having accepted 0:03:43.400 --> 0:03:46.920 two million of the refugees coming over the border from Ukraine. 0:03:47.160 --> 0:03:49.600 And then there's also the other side, the security side. 0:03:49.680 --> 0:03:52.280 He's expected to meet with the eight second airborn here 0:03:52.280 --> 0:03:55.240 in Jeeshov, and there's going to be talked about this 0:03:55.400 --> 0:03:59.960 effort to bolster the eastern flank of NATO. Bloomberg's age 0:04:00.040 --> 0:04:02.080 Cantrill says, Poland he is taking in the bulk of 0:04:02.160 --> 0:04:05.080 rafugees from Ukraine. It's winning praise for the move, but 0:04:05.120 --> 0:04:08.800 it's also causing political and economic stress. A meantime, John 0:04:08.880 --> 0:04:12.480 Ukrainian President Vladimir Zolensky is scolding NATO leaders for not 0:04:12.640 --> 0:04:15.880 responding to his request for a no fly zone. During 0:04:15.960 --> 0:04:18.760 his late night address to the European Council summit in Brussels, 0:04:18.920 --> 0:04:22.040 the Ukrainian President asked for more weapons and tighter sanctions 0:04:22.080 --> 0:04:26.040 on Russia. What do we need for this? Ukraine is 0:04:26.120 --> 0:04:30.560 very specific in answering this question. First, to intentify sankings 0:04:30.600 --> 0:04:33.760 against Russian aggression on a weekly basis until it stops 0:04:33.800 --> 0:04:37.960 and restores peace. For second, take part in the creation 0:04:38.120 --> 0:04:41.719 of a new system of security guarantees for Ukraine for 0:04:41.800 --> 0:04:46.239 a region real guarantees. President Zelenski also called out Hungary 0:04:46.279 --> 0:04:49.120 in his remarks, asking Prime Minister Victor Orban to shun 0:04:49.200 --> 0:04:52.440 Russia and fully support Ukraine. Manytime there's more concerned about 0:04:52.440 --> 0:04:55.600 Shot is showing support for Russia. Bloomberg News has learned 0:04:55.640 --> 0:04:59.120 to the officials suspect Beijing may supply semi conductors at 0:04:59.120 --> 0:05:01.880 other tech hard to Moscow. It would be part of 0:05:01.880 --> 0:05:04.760 an effort to soft the impact of sanctions. Russie and 0:05:04.800 --> 0:05:08.600 China denied any request for abre made or accepted, and 0:05:08.640 --> 0:05:10.800 now some other news were following this morning. Keeps us 0:05:10.839 --> 0:05:13.839 in China, John, the mystery is deepening over that commercial 0:05:13.880 --> 0:05:16.760 plane crash from Monday. All on two people on the 0:05:16.839 --> 0:05:20.919 China Eastern Airlines going seven thirty seven are presumed dead. Bloomberg. 0:05:20.960 --> 0:05:23.279 Stephen Angle has the latest. Well, the latest is that 0:05:23.320 --> 0:05:26.680 authorities have indicated they have found potentially a piece of 0:05:26.680 --> 0:05:30.720 the aircraft about ten kilometers away from the main wreckage site, 0:05:30.720 --> 0:05:35.120 about six miles away, and that potentially indicates that something 0:05:35.240 --> 0:05:40.120 came off the aircraft midflight. And the questions now are 0:05:40.560 --> 0:05:43.159 if that piece was from the airplane, did that cause 0:05:43.560 --> 0:05:46.520 the plane to go into that nose dive and crash. 0:05:46.680 --> 0:05:49.600 Bloomberg Stephen Angle reports the flight went down without an 0:05:49.600 --> 0:05:53.080 emergency radio call from pilots. Let's take a hard turn 0:05:53.120 --> 0:05:55.880 down to the economy of the Marketston, your treasury yields 0:05:55.880 --> 0:06:00.960 this morning coming in at two thirty four, and let's 0:06:00.960 --> 0:06:04.800 head to Europe right now. Breaking news President Biden delivering 0:06:04.800 --> 0:06:09.680 his statement with the EU Commissioned President Dependence on Russian 0:06:09.800 --> 0:06:14.880 energy putent has issued Russia's energy resources, that's course, and 0:06:14.960 --> 0:06:18.760 manipulate his neighbors. That's how he's used it. He's used 0:06:18.800 --> 0:06:22.279 the profits to drive his war machine. That's why earlier 0:06:22.279 --> 0:06:24.719 this month, I announced the United States would ban all 0:06:24.760 --> 0:06:28.040 imports of Russian energy to make it clear that American 0:06:28.080 --> 0:06:32.000 people would not be part of subsidizing pudent, brutal, unjustified 0:06:32.040 --> 0:06:36.000 war against people of Ukraine. At the time, I noted 0:06:36.080 --> 0:06:39.040 that we were able to take this steps when others 0:06:39.080 --> 0:06:41.560 could not because the United States is a net exporter 0:06:41.600 --> 0:06:45.480 of energy with a strong domestic industry, and the United 0:06:45.520 --> 0:06:49.479 States welcomed the European Union's powerful statement earlier this month 0:06:49.880 --> 0:06:55.440 committing to rapidly reduce his dependence on Russian gas. Today, 0:06:55.600 --> 0:06:58.960 we've agreed on a joint game plan towards that goal, 0:06:59.680 --> 0:07:03.919 while accelerating our progress towards a secure, clean energy future. 0:07:04.880 --> 0:07:09.480 This initiative focuses on two core issues. One, helping Europe 0:07:09.520 --> 0:07:15.200 reduces dependency on Russian gas as quickly as possible. Secondly, 0:07:15.840 --> 0:07:22.040 reducing Europe's demand for gas overalls and trustworthy data flows 0:07:22.080 --> 0:07:27.520 between the EU and US, safeguarding privacy and civil liberties. 0:07:27.960 --> 0:07:31.080 And I really want to thank Commissioner Renders and Secretary 0:07:31.200 --> 0:07:35.760 Raimondo for their tireless efforts over the past month to 0:07:36.280 --> 0:07:42.040 finish a balance and effective solution. This is another step 0:07:42.040 --> 0:07:46.520 in our strengthening our partnership. We managed to balance security 0:07:46.640 --> 0:07:51.360 and the right to privacy and data protection. Mr President 0:07:51.560 --> 0:07:55.880 did Joe put In is trying to turn back the 0:07:55.960 --> 0:07:59.840 clock to another era, an era of brutal use of force, 0:08:00.600 --> 0:08:05.440 of power, politics of spheres of influence and internal repression. 0:08:06.480 --> 0:08:11.560 I am confident he will fail. We are working together 0:08:12.400 --> 0:08:18.720 to forge a peaceful, prosperous, unsustainable future and I know 0:08:19.000 --> 0:08:22.560 we will succeed. Thank you very much. The European Commissioned 0:08:22.560 --> 0:08:27.840 President Urselav underlying there, speaking alongside President Biden, who addressed 0:08:28.000 --> 0:08:32.079 the group earlier this meeting earlier Ian Brussels. There the 0:08:32.120 --> 0:08:35.240 announcement with both of them on an agreement to wean 0:08:35.360 --> 0:08:39.720 Europe off its dependence on Russian energy and let's take 0:08:39.760 --> 0:08:43.239 a deeper dive into this agreement and the latest developments. 0:08:43.480 --> 0:08:47.080 Were joined along with my co anchor Nathan Hagar with 0:08:47.360 --> 0:08:50.439 Greg Valier, the chief US policy strategist at a g 0:08:50.720 --> 0:08:56.360 F Investment. Greg, another display of a united front. Your 0:08:56.360 --> 0:08:59.400 take this morning, well, You're absolutely right. I think the 0:08:59.520 --> 0:09:03.520 unity is really quite impressive, as many people have commented, 0:09:03.559 --> 0:09:06.559 and I would agree. I don't think Vladimir Putin expected 0:09:06.960 --> 0:09:09.640 this kind of unity, so it's a good sign. But 0:09:09.679 --> 0:09:12.679 when it comes to all the energy stuff, the devil 0:09:12.720 --> 0:09:14.880 will be in the details. A lot to be worked 0:09:14.880 --> 0:09:19.000 out in terms of infrastructure to accept natural gas in 0:09:19.080 --> 0:09:22.959 Western Europe. Yeah, I'm no logistics expert, but I can 0:09:23.040 --> 0:09:27.920 tell you that Germany, for instance, doesn't have an energy terminal, 0:09:28.120 --> 0:09:31.160 at least at the moment, exactly right. You know, maybe 0:09:31.160 --> 0:09:33.800 in a couple of years they will, but I don't 0:09:33.800 --> 0:09:37.880 think it's going to be imminent, and that's that's a problem. 0:09:38.400 --> 0:09:42.439 There's other issues as well, including huge U S shipments 0:09:42.480 --> 0:09:45.959 to Asia. Will they have to slow Will that drive 0:09:46.440 --> 0:09:50.280 China to burn more coal? In many respects, Despite what 0:09:50.400 --> 0:09:52.960 Joe Biden said a few minutes ago, this is not 0:09:53.080 --> 0:09:56.800 a good story for the environmental movement. It relies even 0:09:56.840 --> 0:10:00.480 more on fossil fuels. I think, Greg, it's Nathan Hey Grint. 0:10:00.520 --> 0:10:04.200 I have to think that this announcement, with the details 0:10:04.280 --> 0:10:06.800 still need to be worked out, it can only add 0:10:06.840 --> 0:10:09.960 to the volatility we've seen in the energy markets. What 0:10:10.040 --> 0:10:11.920 do you think is going to happen with the price 0:10:12.280 --> 0:10:16.560 of natural gas, the price of oil with this going forward, Well, 0:10:16.640 --> 0:10:19.800 it's it should keep the price pretty elevated, Nathan. I 0:10:19.840 --> 0:10:22.080 don't know if it's gonna go a lot higher, but 0:10:22.600 --> 0:10:26.920 energy continues to be a big uncertainty. You know. I'd 0:10:26.960 --> 0:10:29.920 probably walk back and look at the big picture after 0:10:30.000 --> 0:10:33.080 what we've just heard and conclude that there is this 0:10:33.200 --> 0:10:37.560 remarkable unity that the Russians I think are facing a 0:10:37.760 --> 0:10:41.880 depression with a capital D over the next few months. Yea. 0:10:41.920 --> 0:10:43.959 I wanted to ask a little bit about that because 0:10:44.360 --> 0:10:47.040 in the lead up, even before the invasion, there were 0:10:47.040 --> 0:10:50.320 a lot of questions about whether Germany in particular would 0:10:50.320 --> 0:10:54.599 be on board with tightening the kinds of energy sanctions 0:10:55.200 --> 0:10:58.560 that Ukraine in particular has been looking forward. Do you 0:10:58.600 --> 0:11:02.160 get the sense now, after these emergency summits in Brussels, 0:11:02.160 --> 0:11:05.240 that we are seeing more unity between the US and 0:11:05.280 --> 0:11:09.160 NATO and Europe when it comes to Russia. Yeah, I do. 0:11:09.520 --> 0:11:13.120 I think that the Germans still have to be persuaded 0:11:13.160 --> 0:11:16.800 on a lot of the LG activity as we just discussed, 0:11:17.320 --> 0:11:19.840 but I would say that most all of Europe is 0:11:19.880 --> 0:11:22.400 on board. There are a lot of countries that aren't India, 0:11:22.559 --> 0:11:27.000 isn't China, probably isn't Uh. To me, the key country 0:11:27.000 --> 0:11:28.920 in the next few weeks is going to be Turkey, 0:11:29.080 --> 0:11:32.800 of all places, I think the Turkish Prime Minister could 0:11:32.800 --> 0:11:36.079 be an important intermediary. So you're getting an awful lot 0:11:36.120 --> 0:11:39.320 of countries trying to help, trying to bring this to 0:11:39.360 --> 0:11:43.640 a close. Greg Ursula wonder lying thing at the end 0:11:43.679 --> 0:11:47.559 of her address there that the sanctions are draining Putin's resources. 0:11:48.120 --> 0:11:51.040 Does that mean a dangerous man is backed in the 0:11:51.200 --> 0:11:55.040 corner and becomes more dangerous. Well, that's the fear, isn't it. 0:11:55.240 --> 0:11:58.320 I mean you've got the oligarchs are are furious with him. 0:11:58.720 --> 0:12:01.839 The generals who have five of their colleagues who have 0:12:01.920 --> 0:12:05.760 been killed on the battlefield are I think increasingly skeptical 0:12:06.200 --> 0:12:09.080 of Putin, and I think ordinary Russians, who see their 0:12:09.080 --> 0:12:13.559 standard of living declining, are also beginning to turn against him. 0:12:13.559 --> 0:12:16.400 As the ruble is worth less than a penny, his 0:12:16.480 --> 0:12:21.720 interest rates succeed. It's a very dire economic situation. And 0:12:21.720 --> 0:12:25.680 then to compound everything, you see this totally inept performance 0:12:25.720 --> 0:12:30.240 on the battlefield by Russian troops facing Ukrainian troops who 0:12:30.240 --> 0:12:32.559 are willing to die for their country. I don't think 0:12:32.559 --> 0:12:34.680 a lot of Russian troops are willing to die for 0:12:34.760 --> 0:12:38.120 Vladimir Putin, so it's a pretty grim scenario right now 0:12:38.160 --> 0:12:40.720 for him, thankfully. Yeah, and I got to say, I 0:12:40.760 --> 0:12:43.000 was just struck by a headline that cross the Bloomberg 0:12:43.080 --> 0:12:46.520 terminal moments to go from Russian Farm Minister Sergei lavrov 0:12:47.000 --> 0:12:50.280 Uh speaking this morning, saying the West wants to destroy 0:12:50.480 --> 0:12:55.280 Russia's economy and Russia itself. What does that say about 0:12:55.440 --> 0:12:58.880 where Russia could be taking this war, the idea that 0:12:59.280 --> 0:13:02.200 Vladimir pu might be getting backed into a corner at 0:13:02.200 --> 0:13:05.480 this point he could be You can't you can't rule 0:13:05.520 --> 0:13:09.440 it out. I think that despite the fact that a 0:13:09.480 --> 0:13:13.079 lot of Ukrainians are unwilling to make big concessions, considering 0:13:13.120 --> 0:13:16.240 all the sacrifices they've made. But I do think there's 0:13:16.240 --> 0:13:19.679 got to be a renewed focus on negotiations of trying 0:13:19.720 --> 0:13:22.560 to give Putin the one thing he needs, and that's 0:13:22.559 --> 0:13:26.520 an offer, ramp Uh, an excuse for him to declare 0:13:26.600 --> 0:13:30.839 somewhat of a victory. That victory would be Ukraine's reluctance 0:13:30.880 --> 0:13:33.880 to join NATO. Anytime soon. I think Putin would hail 0:13:33.960 --> 0:13:36.520 that has a big accomplishment, and he might get to 0:13:36.600 --> 0:13:39.400 keep some of the Eastern provinces, he might get to 0:13:39.480 --> 0:13:42.920 keep crimea things like that. But without an offer ram 0:13:42.960 --> 0:13:45.520 from Putin, I agree with you. I think this is 0:13:45.559 --> 0:13:50.400 a very unnerving situation where he becomes even more unpredictable. 0:13:50.760 --> 0:13:53.720 We're not going to forget the human suffering in Ukraine 0:13:53.720 --> 0:13:56.480 by any means. But Greg, being at Washington, I have 0:13:56.640 --> 0:14:00.200 to ask you this question, how does this play with 0:14:00.280 --> 0:14:03.880 the mid term elections approaching? Well, First and foremost, I 0:14:03.920 --> 0:14:07.120 think this has been remarkable to see both parties pretty 0:14:07.160 --> 0:14:10.880 much unified. On the extremes. There are some dissenters, you know, 0:14:11.920 --> 0:14:14.960 uh Tucker Carlson, people like that, But I would say, 0:14:14.960 --> 0:14:19.800 in general, you have tremendous support for confronting Russia, and 0:14:19.800 --> 0:14:23.040 that's a good story for Biden. But the recent polls 0:14:23.080 --> 0:14:25.200 that I've seen over the last week or so don't 0:14:25.240 --> 0:14:29.080 show any increase in Biden's job approval rating, and he 0:14:29.160 --> 0:14:33.520 still has other big problems inflation, urban crime, illegal immigration. 0:14:34.000 --> 0:14:36.440 So I would have to say, you know, despite this 0:14:36.640 --> 0:14:41.200 unity with Biden and NATO, the Democrats are clear underdogs 0:14:41.280 --> 0:14:44.080 to keep the house. Greg a pleasure, Thanks very much 0:14:44.080 --> 0:14:46.800 for joining us this morning. Greg Valier, the chief US 0:14:46.840 --> 0:14:51.320 policy strategist at a gap investment with this this morning 0:14:51.800 --> 0:14:53.960 and ahead of the cash open up. Wall Street dowth 0:14:53.960 --> 0:14:58.000 futures right now fourteen points lower. Little change right now, say, 0:14:58.080 --> 0:14:59.840 with the S and P five hunted down just three, 0:15:00.000 --> 0:15:03.280 the nines day futures are twenty four points lower. This 0:15:03.480 --> 0:15:08.360 is Bloomberg day Break. The Bloomberg weather from Road Carola 0:15:08.440 --> 0:15:11.760 becoming apparently Sunday mild today high sixty to sixty five 0:15:12.000 --> 0:15:15.200 and tomorrow Saturday any morning sun giving way to clouds, 0:15:15.240 --> 0:15:22.880 maybe a shower. The heights aperture fifty five degrees. Broadcasting 0:15:22.960 --> 0:15:26.680 live from the Bloomberg Interactive Broker Studio in New York. 0:15:26.760 --> 0:15:30.720 Bloomberg Living Freedom to Washington, d C, Bloomberg N one 0:15:30.840 --> 0:15:34.080 to Boston, Bloomberg one O six one to San Francisco, 0:15:34.160 --> 0:15:37.360 Bloomberg M sixty to the Country, Sirius XM to A 0:15:37.440 --> 0:15:40.600 one nine and around the globe, the Bloomberg Business apt 0:15:40.720 --> 0:15:49.920 and Bloomberg Radio dot Com. This is Bloomberg Daybreak. It's 0:15:49.960 --> 0:15:52.280 five thirty on Wall Street. Good morning on John Tucker 0:15:52.440 --> 0:15:54.880 and I'm Nathan Hagar. We're just about four hours away 0:15:54.880 --> 0:15:56.720 from the open of US trading. Let's get you up 0:15:56.760 --> 0:15:58.200 to date on the news you need to know at 0:15:58.240 --> 0:16:01.200 this hour. President Biden cante used his trip in Europe. 0:16:01.240 --> 0:16:03.920 This morning. He has met with European Commissioned President Ursula 0:16:03.960 --> 0:16:06.960 vunder Lyine. Moments ago, he announced an agreement to boost 0:16:06.960 --> 0:16:10.640 the supply of liquefied natural gas to European countries. These 0:16:10.680 --> 0:16:16.720 steps will increase energy security, economic security, and national security. 0:16:16.880 --> 0:16:20.360 We're gonna stand up joint task force to molement these changes, 0:16:20.880 --> 0:16:24.840 drive progress that will be co chaired by representatives from 0:16:24.840 --> 0:16:27.960 the White House and the President of the European Unions Team. 0:16:28.120 --> 0:16:30.800 President Biden says the agreement DAMES to help Europe wean 0:16:30.920 --> 0:16:34.160 itself from Russian fuel. Moscow has been the main focus 0:16:34.160 --> 0:16:37.040 of the submoity in Europe. Yesterday, President Biden called Fort 0:16:37.080 --> 0:16:39.520 Runcha to be removed from the G twenty. He also 0:16:39.600 --> 0:16:43.960 warned Vladimir Putin against using biological, chemical or nuclear weapons 0:16:44.000 --> 0:16:48.000 in Ukraine. Bloom Briggs Maria Today, oh has more from Brussels. 0:16:48.360 --> 0:16:51.120 The symbolic nature of the STRIMP was huge, and yesterday 0:16:51.120 --> 0:16:53.600 we did get the show of unity. The President of 0:16:53.600 --> 0:16:56.120 the United States summarized it very well. He said, when 0:16:56.200 --> 0:16:59.880 Vladimer Putting invaded Ukraine, he was looking to create ko 0:17:00.040 --> 0:17:02.880 us in disarray in Europe. The reality is at this 0:17:02.960 --> 0:17:05.000 point we're more united than we've ever been. And that 0:17:05.080 --> 0:17:08.359 was echoed by the Secretary General of NATO who said, 0:17:08.560 --> 0:17:11.159 at this point where the strongest military allies and the 0:17:11.160 --> 0:17:14.160 world we stayed together, we stick together, We are going 0:17:14.200 --> 0:17:17.760 to be safe. Bloomberg Maria Today reports the Ukrainian President, 0:17:17.760 --> 0:17:21.439 Flodimer Zolinski is asking NATO for more weapons and tighter 0:17:21.560 --> 0:17:24.480 sanctions on Russia. I meantime, John, there's more concerned about 0:17:24.560 --> 0:17:27.120 China showing support for Russia, and Bloomberg News has learned 0:17:27.119 --> 0:17:30.680 EU officials suspect Beijing may supply semiconductors and other tech 0:17:30.720 --> 0:17:33.200 hardware to Moscow. It would be part of an effort 0:17:33.240 --> 0:17:35.840 to soften the impact of sanctions. Russia and China have 0:17:35.920 --> 0:17:39.200 denied any requests for aid were made or accepted. And 0:17:39.359 --> 0:17:42.680 another story we're following this morning, Nathan, the mystery deepening 0:17:42.720 --> 0:17:45.560 over the crash of that China Eastern Airlines Boeing seven 0:17:45.640 --> 0:17:48.880 thirties seven. At least one piece of the plane appears 0:17:48.920 --> 0:17:52.240 to a broken loose well before impact. It was found 0:17:52.240 --> 0:17:55.320 about six miles away from the main wreckage area. That 0:17:55.440 --> 0:17:57.840 is raising questions about the condition of the plane. Would 0:17:57.840 --> 0:18:00.680 have begun a steep nosedive from nearly thirty thousand feet. 0:18:01.000 --> 0:18:04.600 All one thirty two people on board are presumed dead night. 0:18:04.680 --> 0:18:06.760 Let's check the markets ahead of the Friday morning open. 0:18:06.800 --> 0:18:09.400 The SMP futures right now are down four points, Stown 0:18:09.480 --> 0:18:12.680 futures down twenty four. Nasdaq futures are lower by twenty 0:18:12.720 --> 0:18:15.480 three points. The tenure Treasury is up five thirty seconds, 0:18:15.480 --> 0:18:17.520 the yield two point three five percent yield down, the 0:18:17.520 --> 0:18:20.040 two year two point one four nime X screwed is 0:18:20.080 --> 0:18:22.240 down two point four percent or two dollars seventy three 0:18:22.240 --> 0:18:24.679 cents at a hundred nine dollars sixty one cents in barrel, 0:18:25.000 --> 0:18:27.280 and Comex gold is down two tenths per cent or 0:18:27.280 --> 0:18:30.040 four dollars forty cents. In nineteen sixty three, thirty announced 0:18:30.400 --> 0:18:33.600 straight ahead your latest local headlines and a check of sports. 0:18:33.640 --> 0:18:40.120 This is Bloomberg hesive thirty three on Wall Street. Time 0:18:40.160 --> 0:18:42.160 to bring in Michael Barr with more of what else 0:18:42.240 --> 0:18:44.960 is going on to New York and around the world. Jeahn, 0:18:45.000 --> 0:18:47.159 thank you very much. Their New York City unions are 0:18:47.320 --> 0:18:51.480 blasting Mayor Eric Adams after he exempted athletes and performers, 0:18:51.520 --> 0:18:56.040 including Brooklyn net starre Kyrie Irving, from the city's vaccine mandate. 0:18:56.480 --> 0:18:59.680 This after about fourteen hundred city workers were fired last 0:18:59.720 --> 0:19:03.240 month for failing to comply with the mandate. Harry nest Pole, 0:19:03.600 --> 0:19:06.720 head of the Municipal Labor Committee, said the city should 0:19:06.720 --> 0:19:09.800 offer away for fired workers to get their jobs back. 0:19:10.119 --> 0:19:12.440 Don't shut the door on them. Not when they had 0:19:12.440 --> 0:19:15.639 to come to work, when everybody was running out to 0:19:15.680 --> 0:19:18.960 the Hampton's and everybody's running up State New York and 0:19:18.960 --> 0:19:22.119 the only people here with city works. Harry nest Poley, 0:19:22.200 --> 0:19:25.600 head of the Municipal Labor Committee. However, Mayor Adams says 0:19:25.760 --> 0:19:29.240 his move will help struggling performers as well as those 0:19:29.320 --> 0:19:33.880 vendors and smaller businesses that rely on the city's entertainment economy. 0:19:34.240 --> 0:19:39.800 We created an unfair disadvantage to New York based performance. 0:19:40.160 --> 0:19:43.639 I'm correcting that unfair disadvantage, and I'm doing it at 0:19:43.640 --> 0:19:47.480 the appropriate time when our numbers are low. Mayor Eric Adams. 0:19:47.800 --> 0:19:50.960 It's an extraordinary development in the ongoing investigation into the 0:19:51.040 --> 0:19:54.480 January sixth rioting last year on Capitol Hill. The House 0:19:54.480 --> 0:19:58.359 Committee is now examining dozens of text messages sent to 0:19:58.400 --> 0:20:02.760 President Trump's chief of Staf Mark Meadows. According to several reports, 0:20:02.840 --> 0:20:07.919 Virginia Thomas, wife of Justice Clarence Thomas, texted Meadows urging 0:20:08.000 --> 0:20:12.080 him to keep challenging the election results. North Korea's leader, 0:20:12.119 --> 0:20:14.680 Kim John Une, told state media that he's getting ready 0:20:14.720 --> 0:20:17.760 for a confrontation with the United States. The report came 0:20:17.840 --> 0:20:22.960 after North Korea launched its largest intercontinental ballistic missile yesterday, 0:20:23.280 --> 0:20:28.199 drawing international condemnation. Retired General Robert Abram's, former commander of 0:20:28.320 --> 0:20:31.639 US forces in Korea, is calling for tougher sanctions on 0:20:31.800 --> 0:20:35.040 North Korea. The sanctions that North Korea is under today 0:20:35.480 --> 0:20:39.040 pale in comparison to what the international community has done 0:20:39.040 --> 0:20:43.000 in very short order to Russia. So we should look 0:20:43.119 --> 0:20:46.199 very hard at that. Retired General Abrams spoke to ABC 0:20:46.600 --> 0:20:48.760 Global News twenty four hours a day on air and 0:20:48.920 --> 0:20:53.080 on Bloomberg quick Take, powered by more than journalists, analysts 0:20:53.160 --> 0:20:55.399 more than a hundred twenty countries. I'm Michael Barr. This 0:20:55.440 --> 0:21:01.960 is Bloomberg. John Michael, thank you. He is five six 0:21:02.160 --> 0:21:04.760 Wall Street, this time for the Boober Sports updates. Can 0:21:04.840 --> 0:21:08.159 Good morning John, Good morning John. The upsets continue in 0:21:08.200 --> 0:21:10.440 the n C Double A tournament has to One Seeds 0:21:10.480 --> 0:21:12.919 went down. Arkansas had never beat No. One seed in 0:21:12.920 --> 0:21:16.399 the n C Double as the Razorbacks beat Gonzaga six eight, 0:21:16.440 --> 0:21:19.960 and then Arizona ousted by Houston seventy two sixty four 0:21:20.040 --> 0:21:23.680 to two. Seeds did win Villanova sixty three fifty five 0:21:23.680 --> 0:21:26.480 over Michigan, and Duke moves on trail at the half. 0:21:26.520 --> 0:21:29.400 But against Texas Tech, the nation's top defensive team, Duke 0:21:29.480 --> 0:21:33.200 scored forty nine points and won seventy eight seventy three. 0:21:33.200 --> 0:21:35.199 So Duke is gonna? Is Duke gonna go to the 0:21:35.200 --> 0:21:38.160 Final four in micro Eskin's final season. We'll find out 0:21:38.160 --> 0:21:41.959 tomorrow against Arkansas. Villanova will play Houston. Four more Sweet 0:21:41.960 --> 0:21:45.400 Sixteen games tonight, including Cinderella St. Peter's taken on Perdue 0:21:45.480 --> 0:21:48.000 in Philadelphia. The Pea coops have been letting the postseason 0:21:48.040 --> 0:21:51.280 by Doug Eatard. He says they have nothing to lose tonight, 0:21:51.560 --> 0:21:54.760 no pressure at all. Honestly, there's no pressure at all. 0:21:55.240 --> 0:21:59.840 Um I think that, Uh, there's there's nothing that shared. 0:22:00.480 --> 0:22:04.119 There's nothing really that's different. Now we've we've been playing 0:22:04.119 --> 0:22:06.399 basketball this whole season. We've been uh, we had our 0:22:06.440 --> 0:22:08.919 ups and downs, and we're just gonna look forward to 0:22:09.040 --> 0:22:12.040 keep executing the game plan and just keeping what we've 0:22:12.040 --> 0:22:14.160 been doing. Also in Philly, use c l A plays 0:22:14.200 --> 0:22:17.760 North Carolina, battle of college basketball traditional powers. In Chicago, 0:22:17.760 --> 0:22:20.520 it's Kansas against Providence and two double digit seeds meet 0:22:20.800 --> 0:22:23.160 Miami plays Iowa State. N i t A has its 0:22:23.160 --> 0:22:24.960 Final four next week at the Garden, where the n 0:22:24.960 --> 0:22:28.000 i T, except for last year, has concluded every year 0:22:28.040 --> 0:22:30.840 since the tournament began in eighteen thirty eight. Now we're 0:22:30.920 --> 0:22:32.760 the n i T Final four. The next two seasons 0:22:32.760 --> 0:22:34.800 will not take place in New York. It's not known 0:22:34.800 --> 0:22:38.040 where it will be. John stash Award Bloomberg Sports don't 0:22:38.200 --> 0:22:40.520 all right, John, thanks very much. It is five thirties 0:22:40.520 --> 0:22:42.440 seven on Wall Street, timed out for the Tri State 0:22:42.480 --> 0:22:46.240 Business Report. After that, we're joined by Bloomberg's Ed Quarry. 0:22:46.680 --> 0:22:51.240 Sources tell Bloomberg Blackstone's exploring a large office expansion in Manhattan, 0:22:51.680 --> 0:22:54.280 seeking space at a time when many companies are embracing 0:22:54.359 --> 0:22:57.480 hybrid schedules. The New York based private equity firm is 0:22:57.560 --> 0:22:59.760 hunting for about one and a half million square feet 0:22:59.760 --> 0:23:03.800 of ADS as it considers relocating from its Park Avenue headquarters. 0:23:04.160 --> 0:23:07.160 Connecticut residents can expect some relief at the gas bump. 0:23:07.400 --> 0:23:11.160 Governor Ned Lamont Thursdays signed to bipartisan bill to temporarily 0:23:11.280 --> 0:23:15.160 lift the state's gasoline tax. House and Senate lawmakers Wednesday 0:23:15.280 --> 0:23:19.000 voted unanimously in favor of suspending the state's twenty five 0:23:19.040 --> 0:23:22.440 cents a gallon excise tags on gasoline. Starting April one, 0:23:23.200 --> 0:23:26.119 New Jersey's Cannabis Board took its first formal action on 0:23:26.200 --> 0:23:32.960 recreational marijuana applications, approving sixty eight conditional licenses to cultivate, manufacture, 0:23:33.040 --> 0:23:35.960