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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning.

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Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 3: stories we're following today.

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Speaker 4: Karen, we begin with President Donald Trump's effort to address

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Speaker 4: americans lingering economic concerns. The President used a primetime address

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Speaker 4: from the White House to say he is working to

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Speaker 4: rein in rising prices.

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Speaker 5: Good evening, America. Eleven months ago, I inherited a mess,

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Speaker 5: and I'm fixing it.

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Speaker 4: And in the speech heard live on Bloomberg Radio, President

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Speaker 4: Trump said he's starting with a holiday bonus for the military,

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Speaker 4: the Warrior Dividend.

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Speaker 5: In honor of our nations founding in seventeen seventy six.

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Speaker 5: We are sending every soldier one thousand, seven hundred and

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Speaker 5: seventy six dollars.

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Speaker 4: President Trump also announced plans for housing reforms in the

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Speaker 4: new year from his tax and spending cut bill, as

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Speaker 4: well as lower interest rates al soon.

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Speaker 5: And now our next chairman of the Federal Reserve, someone

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Speaker 5: who believes in lower interest rates by a lot, and

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Speaker 5: mortgage payments will be coming down even further.

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Speaker 4: And President Trump touted his efforts to stop drugs and

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Speaker 4: undocumented migrant flows, as well as his plan to replace

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Speaker 4: health insurance subsidies with direct payments to Americans, and he

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Speaker 4: defended his terriff regime, saying it's bringing in domestic manufacturing

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Speaker 4: and will help to pay for the military bonuses.

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Speaker 3: Well Nathan reactions already pouring into President Trump's speech. Bloomberg's

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Speaker 3: Romey Vargie says the President is showing he's got Americans

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Speaker 3: cause concerns in mind.

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Speaker 6: This warrior givenad is chef for seventeen seventy six, coming

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Speaker 6: around holiday times or service members really shows that they

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Speaker 6: are paying attention to the poll numbers and wanting to

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Speaker 6: see what they can do.

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Speaker 3: And that's Bloomberg Digital Politics editor romeyvar Geese and Bloomberg's

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Speaker 3: Joe Matthew says those concerns could linger well beyond the speech.

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Speaker 7: This issue around healthcare premiums rising in the country will

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Speaker 7: be likely once again the preeminent issue when we get

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Speaker 7: on the campaign trail for the midterm. So they're trying

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Speaker 7: to get their arms around this, and.

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Speaker 3: Bloomberg Balance a Power host Joe Matthew there a Writer's

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Speaker 3: Ipsos poll this week shows the president's approval rating near

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Speaker 3: isuloist level this term, at thirty nine percent.

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Speaker 4: Heading overseas Karen. The Trump administration has announced a massive

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Speaker 4: package of arm sales to Taiwan. It's valued at more

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Speaker 4: than ten billion dollars and includes medium range missiles, howitzers,

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Speaker 4: and drones. China's Foreign ministry has attacked the move, saying

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Speaker 4: it would violate diplomatic agreements between China and the US

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Speaker 4: and undermine regional stability.

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Speaker 3: Hovering Europe Nathan, EU leaders are gathering for a summit

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Speaker 3: aimed at agreeing on a massive loan to cover Ukraine's military.

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Speaker 3: Bloomberg's Oliver Crook is covering the high stakes meeting in Brussels.

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Speaker 8: I think it's fair to say that this is really

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Speaker 8: a do or die meeting for the Europeans on two

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Speaker 8: main issues. The first is on funding Ukraine, getting the

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Speaker 8: Ukrainians on financial footing for the next few years to

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Speaker 8: be able to support their war effort to defend against

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Speaker 8: the Russians. And the second on this an American trade

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Speaker 8: deal AMERCOS or trade deal that's been twenty five years

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Speaker 8: in the making. These two issues, which are massive issues

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Speaker 8: for the Europeans. You really can't undersell how big of

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Speaker 8: a deal this is, and trying to get these over

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Speaker 8: the line. We have no idea which way they're going

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Speaker 8: to go on both of these.

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Speaker 3: Issues, and Bloomer's Oliver Crook says. European Council President Antonio Costa,

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Speaker 3: who is cheering the meeting, is vowing to keep leaders

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Speaker 3: negotiating until an agreement is reached, even if it takes days.

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Speaker 4: Australia Karen is creating new hate speech laws following an

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Speaker 4: alleged Islamic State inspired terrorist attack at Bondai Beach that

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Speaker 4: killed fifteen Jewish people gathered to celebrate Hanukkah. Here's Australian

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Speaker 4: Prime Minister Anthony Albanesi.

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Speaker 9: Of course, I acknowledge that more could have been done,

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Speaker 9: and I accept my responsibility full of the part in

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Speaker 9: that as Prime Minister of Australia. But what I also

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Speaker 9: do is to accept my responsibility to lead the nation

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Speaker 9: and unite the nation.

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Speaker 4: Prime Minister Anthony Albanesi says the package will include aggravated

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Speaker 4: hate speech offenses for preachers and leaders who promote islands.

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Speaker 3: Now, Nathan, we want to update you on the manhunt

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Speaker 3: for the mass shooter at Brown University. The search is

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Speaker 3: now into US sixth a day and authorities are continuing

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Speaker 3: to press for more information. Providence, Rhode Island police have

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Speaker 3: released surveillance photos of a man scene walking past their

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Speaker 3: person of interest. And here's Providence Police Chief Oscar Perez.

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Speaker 10: And we see this person of interest and nearby the

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Speaker 10: vicinity is this other person. And so we're just trying

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Speaker 10: to trying to find out more and we believe that

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Speaker 10: this person may have relevant information that is really going

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Speaker 10: to help us.

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Speaker 3: And Providence Police Chief Oscar Perez also released a map

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Speaker 3: showing the streets where the suspect was seen before and

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Speaker 3: after the shooting. He's asking the public for more video

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Speaker 3: from the area. Brown University says it has more than

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Speaker 3: twelve hundred security cameras in and around campus, but they're

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Speaker 3: not in every hallway or classroom.

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Speaker 4: Let's turn out Karen too. The latest on the death

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Speaker 4: of actor director Rob Reiner. The Hollywood Legend's son, Nick Reiner,

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Speaker 4: made his first court appearance in Los Angeles on two

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Speaker 4: counts of first degree murder in the deaths of his parents.

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Speaker 4: Here's Nick Reiner's attorney, Alan Jackson.

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Speaker 11: We asked that during this process, you allow the system

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Speaker 11: to move forward in the way that it was designed

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Speaker 11: to move forward, not with a rush to judgment, not

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Speaker 11: with jumping to conclusions, but with restraint and with dignity

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Speaker 11: and with the respect that this system and this process deserves,

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Speaker 11: and that the family deserves.

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Speaker 4: Attorney Alan Jackson says Nick Reiner's arraignment has been postponed

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Speaker 4: to January seventh.

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Speaker 3: Company News History this morning, for BP, the oil Giant

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Speaker 3: has appointed Meg O'Neill as its first female CEO. She

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Speaker 3: replaces Murrie Aunkinklaus after just two years in the job.

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Speaker 3: The management change comes as the oil giant struggles to

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Speaker 3: revive its fortunes following a botched pivot toward renewables.

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Speaker 4: Went back here in the US care and the AI

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Speaker 4: trades getting some good news this morning. Shares of Micron

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Speaker 4: Technology are up ten percent in early trading. The largest

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Speaker 4: US maker of computer memory chips gave an upbeat forecast

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Speaker 4: for the current quarter.

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Speaker 3: Well for look at some of the other stories making

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Speaker 3: news in New York and around the world, and for

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Speaker 3: that we're joined by Bloomberg's John Tucker, John Good.

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Speaker 12: Morning, and good morning, Karen. Moderate House Republicans have revolted

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Speaker 12: against Speaker Mike Johnson and joined with Democrats to force

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Speaker 12: a vote in January and expiring Obamacare subsidies. Republican Representive

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Speaker 12: Mike Lawler of New York signed on to the Democratic

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Speaker 12: Discharged petition, a way to force a vote and get

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Speaker 12: around GOP leadership. Speaking with our Joe Matthew on Bloomberg

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Speaker 12: Balance of Power, Lawler denies there's a lack of confidence

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Speaker 12: in the House Speaker.

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Speaker 2: Him and I have a very good relationship.

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Speaker 7: We've spoken repeatedly over the last twenty four hours.

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Speaker 9: I am more focused on finding a solution.

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Speaker 4: I don't think he has.

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Speaker 9: Anything to worry about with a motion of vacate.

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Speaker 12: New York Congressman Mike Lawler with Bloomberg's Joe Matthew. Get

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Speaker 12: the full conversation of the Bloomberg Balance of Power podcast.

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Speaker 12: A lot of people want to work for incoming New

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Speaker 12: York Mayor Zora Mumdani That story from Bloomberg's Charlie Pellett.

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Speaker 2: More than seventy four thousand people have applied for jobs

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Speaker 2: in the new administration, with an average age of twenty eight.

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Speaker 2: Mamdanie's administration is looking to hire an unspecified number of

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Speaker 2: roles across sixty agencies, ninety five mayor all offices, and

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Speaker 2: more than two hundred and fifty boards and commissions. Those

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Speaker 2: numbers are both a measure of enthusiasm for New York

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Speaker 2: City's incoming mayor under sign of how tough the job

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Speaker 2: market is for young people in the five boroughs. New

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Speaker 2: York City had a five point eight percent unemployment rate

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Speaker 2: overall in August. In New York, Charlie Pellett Bloomberg Radio Gilline.

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Speaker 12: Maxwell has asked to judge to throuder sex trafficking conviction

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Speaker 12: and twenty year prison sentence. It comes on the eve

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Speaker 12: of a deadline for the Justice Department to turn over

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Speaker 12: a trove of documents relating to her ex boyfriend, convicted

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Speaker 12: pedophile and sex trafficker Jeffrey Epstein. Ed Effy ID Deputy

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Speaker 12: director Dan Bongino says he's resigning from the Bureau next month.

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Speaker 12: The departure would be among the highest profile resignations of

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Speaker 12: the Trump administration, coming as the firing of career agents

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Speaker 12: has contributed to upheople at the bureau. Global News twenty

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Speaker 12: four hours a day and whenever you want it, we

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Speaker 12: et Bloomberg News.

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Speaker 10: Now.

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Speaker 12: I'm John Tucker, and this is Bloomberg Karen.

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Speaker 3: Thanks Sean time now for our Bloomberg Sports Update, and

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Speaker 3: for that we bring in John stash Hour.

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Speaker 13: Thanks Karen. A big game tonight and the NSC. The

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Speaker 13: Rams and Seahawks play in Seattle. Both teams are eleven

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Speaker 13: and three, tied for the best record in the conference.

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Speaker 13: The quarterback change in Miami despite two a tongue of

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Speaker 13: Malalog getting a two hundred and twelve million dollar extension,

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Speaker 13: being just midway through that deal, he leads the league

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Speaker 13: with fifteen interceptions. He's going to the bench, replaced by

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Speaker 13: rookie quinn Ewers. Luke Weaver, the reliever for the Yankees,

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Speaker 13: is signed with the Mets, the second time that's happened

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Speaker 13: to a relief pitcher in this offseason. That's a Bloomberg

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Speaker 13: Sports Update.

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Speaker 3: Stay with us more from Bloomberg day Break coming up after.

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Speaker 1: This Coast to coast on Bloomberg Radio, on Serious Exam

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business Album. This is Bloomberg Daybreak.

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Speaker 4: Good morning. I'm Nathan Hager. Affordability It was the issue

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Speaker 4: that powered democrats wins in last month's elections by many analyzes,

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Speaker 4: but with cost of living concerns still lingering into the holidays.

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Speaker 4: President Trump is touting what he's accomplished in the last

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Speaker 4: eleven months.

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Speaker 5: A border is secure, inflation has stopped, wages are up,

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Speaker 5: prices are down. Our nation is strong, America is respected,

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Speaker 5: and our country is back stronger than ever before.

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Speaker 4: President Trump at a primetime addressed to the nation you

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Speaker 4: heard live on Bloomberg Radio this morning, were joined by

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Speaker 4: Terry Haynes, the founder of Pangaea Policy. No, you heard

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Speaker 4: the speech last night, Terry, your reaction to it in

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Speaker 4: the message that the president says he is trying to

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Speaker 4: fix the problems that he says he inherited from the

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Speaker 4: Biden administration.

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Speaker 14: Good morning, Good morning, Nathan. You know what I heard

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Speaker 14: last night was the most popular politician in the United

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Speaker 14: States because not that I hold a Trump brief, because

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Speaker 14: I don't, but he is by far essentially deciding to

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Speaker 14: do twenty twenty five's greatest hits and spice that with

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Speaker 14: a reminder to the public of why they hired him

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Speaker 14: in the first place. The entire speech, you know, the

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Speaker 14: speeches these days are you know, kind of sound bite collections,

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Speaker 14: and you know this this was one, so you can

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Speaker 14: pick your SoundBite and move along. If you remember the public,

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Speaker 14: and crucially, I think for him, he promised more hits

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Speaker 14: that this the greatest hits package was at the end,

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Speaker 14: but was kind of the beginning. So he's setting the

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Speaker 14: stage to try to in the next ten or eleven months,

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Speaker 14: you know, not only make the case that he's done something,

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Speaker 14: but that he is going to do something, did something,

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Speaker 14: try to instill some confidence in the public and his

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Speaker 14: base that he's going to go about fixing the affordability

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Speaker 14: problems just as he fixed other sorts of problems.

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Speaker 4: And in terms of specific hits to term it that way,

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Speaker 4: we heard the President talking about so called warrior dividends,

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Speaker 4: seventeen hundred and seventy six dollars checks to military service

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Speaker 4: members to arrive before Christmas, and a promise of housing

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Speaker 4: reforms from the big tax and spending cut bill. Are

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Speaker 4: those the kind of things that are going to resonate

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Speaker 4: with voters into twenty twenty six, Well, I think it's.

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Speaker 14: A little early. Frankly, you're right to point all those

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Speaker 14: things out, and I think there will be a lot more.

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Speaker 14: President is not going to be constrained by ideology, and

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Speaker 14: I think that's an important point for markets because people

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Speaker 14: tend to look at how closely some politician or another

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Speaker 14: adheres to what's viewed as democratic or Republican orthodoxy. I

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Speaker 14: don't think the Trump or his people are going to

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Speaker 14: care about that. I sometimes I liken the politicians to painters,

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Speaker 14: and you know, I see Trump as Jackson Pollock more

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Speaker 14: than anything else. He'll throw around the paint cans, however

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Speaker 14: he needs to in order to get the kind of

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Speaker 14: picture he wants regardless, So there's that. How I would

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Speaker 14: look at the speech last night from an affordability perspective

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Speaker 14: is we're still in the spaghetti phase here. We're throwing

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Speaker 14: They're throwing messages up against the wall to see what sticks.

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Speaker 14: How they describe what they're going to do, which is,

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Speaker 14: you know, kind of the press problem is a and

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Speaker 14: the selling problem is important, but it's not the only problem.

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Speaker 14: They've actually got to do a bunch of things, and

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Speaker 14: they're they're going to both try to do both. But

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Speaker 14: I think the message is very much still a work

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Speaker 14: in progress and it's going to take him a while

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Speaker 14: to arrive on it.

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Speaker 9: Well.

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Speaker 4: In terms of the spaghetti we've heard a lot of

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Speaker 4: talk as well about these health insurance subsidies that are

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Speaker 4: due to expire at the end of the year. The

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Speaker 4: President once again touted his idea of funneling those payments

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Speaker 4: directly to Americans form of direct payments. But is this

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Speaker 4: issue going to linger when we've got to vote on

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Speaker 4: extending the subsidies coming up at the at the beginning

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Speaker 4: of next month.

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Speaker 14: Yes, it will. My two cents to markets on this

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Speaker 14: is that Republicans don't look at this as a one

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Speaker 14: and done. Don't look at this what's happening this week

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Speaker 14: is a one off something. There are three opportunities Republicans

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Speaker 14: have in the next four months to try to do

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Speaker 14: something about making the Obamacare program more affordable for people.

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Speaker 14: First is this week before the end of twenty twenty five,

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Speaker 14: and the Republican moderates who are agitating on this say

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Speaker 14: that the week's not over, and they're right. Secondly, by

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Speaker 14: the end of January twenty twenty six, when government funding

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Speaker 14: hangs in the balance, and you know, the Democrats that

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Speaker 14: helped nd the shutdown over this issue may well decide

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Speaker 14: that they you know, they have more leverage here now

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Speaker 14: and we're willing to do something about it. Thirdly, in

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Speaker 14: spring twenty twenty six, I'd say by March April. The

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Speaker 14: very latest, you're going to get an almost certain big

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Speaker 14: beautiful bill two dot oh that Senate Budget Chair Graham

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Speaker 14: has already talked about as including Republican only solutions to

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Speaker 14: stem Obamacare costs. So you know they've clearly got all

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Speaker 14: this in their sights. The last time the Republicans had

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Speaker 14: a trifecta and tried to do something about Obamacare was

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Speaker 14: twenty seventeen. They came very close but barely failed, and

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Speaker 14: we'll see if they've got it in them to try

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Speaker 14: it again this time.

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Speaker 4: Thanks for this, Terry. Great having you back this morning

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Speaker 4: after this speech. You know it was a late night

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Speaker 4: for you as well, so thanks again for being here.

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Speaker 4: That is Terry Hayes. He is the founder of Pangaeopolicy.

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Speaker 3: Karen nathan Le's repeat some of our top stories. The

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Speaker 3: US has approved one of his biggest arm sales ever

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Speaker 3: to Taiwan, worth up to eleven billion dollars. It includes missiles,

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Speaker 3: drones and artillery. China's Foreign Ministry says it strongly opposes

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Speaker 3: and condemns this sale. Australia is expanding its hate speech

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Speaker 3: laws after the Hanuka terror attack at Sydney's Bondai Beach

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Speaker 3: and police in Providence, Rhode Island have released more surveillance

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Speaker 3: photos as a search for the Brown University mass shooter continues,

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Speaker 3: and investors are waiting for November inflation data ahead of

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Speaker 3: the opening bell. Bloomberg Economics says the consumer price index

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Speaker 3: will show terrorf related inflation is peaking or has already peaked.

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Speaker 3: And we have more in those stories coming up on

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Speaker 3: Bloomberg Daybreak.

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Speaker 4: Nathan, all right, Karen, thank you. It's now five twenty

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Speaker 4: on Wall Street. Want to turn to one of our

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Speaker 4: other top stories of the morning, the summit underway in

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Speaker 4: Brussels on backing financial support for Ukraine as the pressure

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Speaker 4: is on from the US to bring the war with

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Speaker 4: Russia to an end. Joining us from the Belgian capitol.

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Speaker 4: This morning is Bloomberg Daybreak. Europe Banker Stephen Carroll, Steven,

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Speaker 4: Good morning. There has been a lot of run up

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Speaker 4: to this summit. How crucial is it for something to

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Speaker 4: get agreed to today?

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Speaker 15: Good morning, Good morning, Nathan. For Ukraine, it is absolutely crucial.

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Speaker 15: The financing needs the country has going into next year

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Speaker 15: are not currently being met and they need an agreement

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Speaker 15: on support from the European Union to unlock, for example,

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Speaker 15: imf aid down the line and keep its war effort

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Speaker 15: underway and really the lights on into next year as well.

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Speaker 15: The key proposal up for debate here by European leaders

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Speaker 15: is whether they can use Russian assets that are frozen

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Speaker 15: in the European Union, mainly at the Euroclear Clearinghouse in Belgium,

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Speaker 15: to back a reparations loan for Ukraine. That's the term

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Speaker 15: that they've decided on to describe it. There has been

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Speaker 15: objections from Belgium to that they fear both the financial

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Speaker 15: risks but also possibly wider risks coming from retaliation from

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Speaker 15: Russia if those assets were to be seized, and over

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Speaker 15: the past more than a month now there has been

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Speaker 15: an effort at a European level to convince Belgium that

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Speaker 15: there is a legally sound proposal that will give them

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Speaker 15: backing from other European member states if the worst were

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Speaker 15: to happen on that front and there were to be

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Speaker 15: a legitimate financial call on those assets in the future.

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Speaker 15: Going into this meeting, we spoke to Kaya Kalas, the

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Speaker 15: High Representative and Foreign Affairs from the EU earlier on

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Speaker 15: the program. She told us it was a fifty to

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Speaker 15: fifty chance that was the chance that she'd giveth there

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Speaker 15: would be a deal done. Today, we've heard from Germany's leader,

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Speaker 15: Friedrich Martz, saying that he expects that this is the

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Speaker 15: best option using these frozen assets to help fund Ukraine.

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Speaker 15: We're talking about loans of about ninety billion euros. Vladimir Zelenski,

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Speaker 15: the Ukrainian President, is in Brussels to apply pressure really

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Speaker 15: to those European leaders to come to an agreement as well.

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Speaker 15: We heard from the Belgian Prime minister this morning as well.

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Speaker 15: He doubled down it as opposition to this plan, warning

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Speaker 15: that using the assets could be a violation of international

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Speaker 15: law and may weaken the Euro on international markets. It

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Speaker 15: looks like a long day of negotiations here ahead. The

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Speaker 15: President of the European Council has warned that they will

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Speaker 15: debate over this for as long as it takes until

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Speaker 15: they get an agreement.

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Speaker 4: What kind of pressure, Stephen, is the European Union feeling

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Speaker 4: from the United States, with President Trump pressuring for the

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Speaker 4: war itself to come to an end in this twenty

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Speaker 4: point piece plan that's been under negotiation for weeks now.

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Speaker 15: Well, I asked Kaya Callas about this this morning and

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Speaker 15: she says that you know the where the plan is

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Speaker 15: now the Europeans. There are lots of European elements to

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Speaker 15: what's being discussed. She says, it concerns European security, so

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Speaker 15: it needs to have the Europeans involved. They've been trying

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Speaker 15: to insert themselves into the process as we've seen these

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Speaker 15: talks and the shuttling back and forth between Moscow and

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Speaker 15: Washington as well. But what Kayak Kallis's point was is

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Speaker 15: there's as yet no indication from Russia that they are

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Speaker 15: willing to concede on anything or indeed move towards a

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Speaker 15: peace plan. So even if there is an agreement that's reached,

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Speaker 15: whether or not Russia will agree to it and sign

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Speaker 15: up is going to be a key part of this

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Speaker 15: as well. But this actually ties back to the point

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Speaker 15: about Russian assets. The EU knows that it needs to

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Speaker 15: send a clear signal that it supports Ukraine, a signal

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Speaker 15: to Russia that they can't outlast the Ukrainian efforts to

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Speaker 15: resist them, and also to the US that they're doing

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Speaker 15: and this is what Kayak Kalas said this morning, that

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Speaker 15: they're taking very strong steps to support Ukraine as well.

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Speaker 15: So it's a decision that comes down, as so much does,

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Speaker 15: to money and where the money will come from, but

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Speaker 15: a very important signal on issue being decided on by

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Speaker 15: the European leaders gathering this morning.

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