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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 2: Karen, we begin in Washington, where a split is building

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Speaker 2: between Republicans on Capitol Hill over how to move forward

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Speaker 2: on President Donald Trump's agenda. Senate Republicans have introduced a

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Speaker 2: plan that would delay action on extending the president's twenty

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Speaker 2: seventeen tax cuts until Congress passes a second, so called

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Speaker 2: Budget Reconciliation bill that would prioritize Trump's effort to crack

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Speaker 2: down on border security and unauthorized immigrants first. But House

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Speaker 2: Speaker Mike Johnson has called for combining both priorities into

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Speaker 2: one big bill. Republican Congressman Jason Smith says that's the

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Speaker 2: right way to go.

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Speaker 4: The one big beautiful bill is the best and quickest

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Speaker 4: approach to get as many of the president's priorities delivered.

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Speaker 1: To his desk as possible.

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Speaker 4: The House is focused on one big beautiful bill. It's

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Speaker 4: the Senate that continues to say that they're going to

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Speaker 4: do two.

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Speaker 2: Bud Fellow House Republican Byron Donalds is getting behind the

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Speaker 2: Senate approach to send more resources to President Trump's borders are.

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Speaker 5: Tom Holman needs money today in order to get the

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Speaker 5: repatriation of force that the President has said that the

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Speaker 5: American people voted for up and running. We have to

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Speaker 5: get that sailing through, and we need to do it

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Speaker 5: without Democrat votes because Chuck Schumer is going to use

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Speaker 5: that as leverage.

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Speaker 2: President Trump plans to meet with Republican lawmakers today. He

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Speaker 2: has said repeatedly he would like quote one big, beautiful bill,

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Speaker 2: but he's also said he'd be okay with more than one.

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Speaker 6: Well nath In.

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Speaker 3: President Trump's proposal to take over Gaza and turn it

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Speaker 3: into what he calls the Riviera continues to reverberate through Washington.

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Speaker 3: Now some of the President's top aids are trying to

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Speaker 3: tone down the idea. Here's White House Press Secretary Caroline Levett.

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Speaker 6: The President has not committed to putting boots on the

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Speaker 6: ground in Gaza. He has also said that the United

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Speaker 6: States is not going to pay for the rebuilding of.

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Speaker 3: Gaza, and Whitehouse spokesperson Caroline Levitt says any relocation of

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Speaker 3: Gaza's more than two million residents would be temporary. Secretary

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Speaker 3: of State Marco Rubio says the President does not want

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Speaker 3: the US to own Gaza.

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Speaker 7: The only think President Trump has done, very generously in

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Speaker 7: my view, is offer the United States willingness to step

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Speaker 7: in clear the debris, clean the place up from all

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Speaker 7: the destruction that's on the ground, clean it up of

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Speaker 7: all these unexploded munitions.

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Speaker 3: Israelis have welcome President Trump's talk of a reborn Gaza,

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Speaker 3: but the Palestinian authority says it rejects all calls for

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Speaker 3: a displacement of the Palestinian people from their homeland.

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Speaker 2: I Meanwhile, Karen, Secretary of State, Rubio says he will

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Speaker 2: not attend a Group of twenty summit in Johannesburg later

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Speaker 2: this month. Among the reasons he cites is South Africa's

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Speaker 2: efforts to address inequality. The move adds strained to US

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Speaker 2: South Africa relations. They have been tense due to South

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Speaker 2: Africa's close ties with China and its refusal to condemn

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Speaker 2: Russia's invasion of Ukraine.

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Speaker 3: Well, Nathan, today is the last day for federal workers

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Speaker 3: to decide if they want to take up President trumpbon

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Speaker 3: his offer to quit their jobs, and Bloomberg's John Tucker

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Speaker 3: is here but the latest and John what's the response

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Speaker 3: been so far.

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Speaker 8: Well, as of yesterday, Karen, more than forty thousand workers

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Speaker 8: signed up. That's about two percent of the federal civilian workforce,

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Speaker 8: and the administration expense a rush of applicants in the

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Speaker 8: final hours the deadline to apply the end of the

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Speaker 8: day today, a government employee simply has to send the

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Speaker 8: word resigned from a government email account. President Trump and

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Speaker 8: Elon Musk told the federal workers they'd be paid through

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Speaker 8: the end of September if they take the offer, but

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Speaker 8: federal employee unions question its legality. The head of the

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Speaker 8: American Federation of Government Employees said to in a statement

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Speaker 8: that federal employees shouldn't be misled by what he called

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Speaker 8: slick talk from unelected billionaires and their lackeys. I'm John

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Speaker 8: Tucker Bloomberg Radio.

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Speaker 2: Hi John, thank you. The White House says Elon Musk

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Speaker 2: will police himself and determine if there are conflicts of

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Speaker 2: interest between his work reviewing federal spending and overlapping Empire

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Speaker 2: of Six companies. Muscus CEO of SpaceX, which has significant

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Speaker 2: government contracts with NASA and the US military. He is

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Speaker 2: also CEO of Tesla, the electric carmaker that has been

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Speaker 2: the subject of several federal probes.

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Speaker 3: When we turn to the markets now, Nathan and US

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Speaker 3: futures are higher following yesterday's gains. On Wall Street, the

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Speaker 3: ten year Treasury yield is hovering near the lowest since

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Speaker 3: mid December, after Treasury Secretary Scot Besson said his focus

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Speaker 3: is bringing down yields rather than the Fed's benchmark short

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Speaker 3: term interest rate. And a programming note, Bloomberg Saleja Mosen

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Speaker 3: speaks live with the Treasury secretary today. Full coverage is

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Speaker 3: at one pm Wall Street time on Bloomberg Radio and

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Speaker 3: the Bloomberg Podcast page on YouTube.

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Speaker 2: And we're watching some stocks on the move this morning, Karen,

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Speaker 2: including shares of Ford. They are down nearly five percent

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Speaker 2: the automaker's warning its profit could fall by two billion

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Speaker 2: dollars or more this year on lower vehicle prices and

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Speaker 2: costly new model launches. As heard here on Bloomberg Radio,

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Speaker 2: Ford's CEO Jim Farley says the forecast does not factor

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Speaker 2: potential steep new tariffs on Canada and Mexico.

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Speaker 9: I think longer term is the bigger concern. These kind

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Speaker 9: of tariffs, especially in these two countries, are very significant

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Speaker 9: and if they persist beyond months. You know, we could

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Speaker 9: see billions of billions of dollars of pressure on the industry,

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Speaker 9: lost jobs, lots of impacts to communities and our ecosystem

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Speaker 9: in the industry, and that's what we're talking the administration

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Speaker 9: about and congressional leaders.

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Speaker 2: CEO Jim Farley also says he's dialing back forwards huge

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Speaker 2: bet on electric vehicles that overshot consumer demand and fueled

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Speaker 2: steep losses. You can get our full conversation with the

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Speaker 2: Ford chief executive on the Bloomberg Talks podcasts. Bloomberg Talks

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Speaker 2: available on Apple, Spotify or anywhere you get your podcasts.

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Speaker 3: And Nathan Chares a Qualcom. They're down almost five percent

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Speaker 3: this morning. The world's biggest seller of smartphone processors expects

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Speaker 3: the overall smartphone market to be flat or increase in

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Speaker 3: the low single digits in twenty twenty five.

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Speaker 2: And Armhole Holdings Karen Those shares are down about three

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Speaker 2: and a half percent. The company gave a cautious revenue forecast,

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Speaker 2: adding to recent concern that spending on artificial intelligence computing

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Speaker 2: is slowing. Arms designs and standards are fundamental to semiconductors

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Speaker 2: that run most of the world's smartphones.

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Speaker 3: Well, Nathan add Alphabet to the list of big tech

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Speaker 3: companies changing hiring plans. The Google parent is scrapping some

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Speaker 3: of its diversity, equity and inclusion programs. The change marks

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Speaker 3: the latest step in Silicon Valley's retreat from DEI initiatives,

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Speaker 3: which have been rejected by President Trump's administration. It follows

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Speaker 3: similar steps from tech rivals like Amazon, Meta and Walmart.

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Speaker 2: Speaking of Amazon, Karen thatk company reports earnings this afternoon,

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Speaker 2: and get a preview from Bloomberg's Tom Busby.

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Speaker 10: Forecast call for a ten percent revenue serge last quarter,

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Speaker 10: fuel by strong holiday sales on its signature online shopping site,

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Speaker 10: strong advertising businesses, and growth in its AWS cloud computing unit.

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Speaker 10: Now rivals Alphabet and Microsoft both reported slowing growth in

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Speaker 10: their respective cloud operations, so results in AWS will be

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Speaker 10: key for investors. Bloomberg consensus calls for total revenue of

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Speaker 10: one hundred and eighty seven point three two billion dollars

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Speaker 10: earnings per share of a dollar fifty. Tom Buzzby Bloomberg.

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Speaker 3: Radio, All right, Tom, thanks and you're up. The Bank

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Speaker 3: of England is expected to cut interest rates for a

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Speaker 3: third time later this morning. Economists expect the BOE to

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Speaker 3: press ahead with a quarter point reduction and its benchmark

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Speaker 3: rate to four and a half percent. And that's the

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Speaker 3: lowest level since June twenty twenty three.

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Speaker 2: And we have this red headline crossing the Bloomberg terminal careen.

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Speaker 2: The Wall Street Journal is reporting Honeywell plans to break

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Speaker 2: up into three independent companies, splitting off its aerospace from

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Speaker 2: automation business and also spinning off its advanced materials business.

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Speaker 2: Honeywell shares right now are hired by four and three

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Speaker 2: quarters percent.

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Speaker 3: Time now for look at some of the other stories

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Speaker 3: making news in New York and around the world. For that,

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Speaker 3: we're joined by Bloomberg's and Michael Barr Michael, good Morning.

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Speaker 11: Good morning. Garin. Democratic senators held the Senate floor overnight

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Speaker 11: to oppose the nomination of Russell Vote, and Trump's pick

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Speaker 11: for Director of the Office on Management and Budget. Vote

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Speaker 11: is one of the authors of Project twenty twenty five,

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Speaker 11: a set of conservative policy proposals that includes an expansion

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Speaker 11: of executive power. Minnesota Senator Amy Klobuchar was among the

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Speaker 11: senators speaking last night.

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Speaker 12: According to reports, he was a driving force behind the

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Speaker 12: administration's decision to freeze federal funding. Stephen Miller even credit it.

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Speaker 12: Someone very close to Donald Trump even publicly credited Vote

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Speaker 12: with coming up with the idea. It was Vote's plan

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Speaker 12: that led the administration to take an action that hurt

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Speaker 12: millions of Americans votes.

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Speaker 11: Confirmation Vote is scheduled to be held this evening. For

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Speaker 11: those in the New York City and Tri State area,

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Speaker 11: expect treacherous travel for the morning commute. A winter storm

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Speaker 11: brings snow, ice, and rain. The storm is expected to

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Speaker 11: peak during rush hour. The snow will change the sleet

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Speaker 11: and freezing rain later today and then all rain. The

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Speaker 11: Trump administration is expected to present a plan to end

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Speaker 11: Russia's war on Ukraine at the Munich Security Conference next week,

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Speaker 11: According to people familiar with the matter, The proposal to

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Speaker 11: be presented by Trump's Special representative Keith Kellogg may include

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Speaker 11: freezing the conflict, providing Ukraine with security guarantees, and potentially

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Speaker 11: holding elections in Ukraine after a ceasefire. A close call

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Speaker 11: at Seattle's SeaTac Airport when the right wing of a

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Speaker 11: taxiing japan Airline's flight hit the tail of a parked

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Speaker 11: Delta plane yesterday. No one was injured on either flight,

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Speaker 11: but passengers had to deplane both aircraft. Passengers, including this woman,

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Speaker 11: were still left on edge by the encounter.

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Speaker 4: I think everybody was just in disbelief of the whole

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Speaker 4: thing just having happened, just with all the recent air issues.

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Speaker 11: According to the FAA, both aircraft were in an area

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Speaker 11: not under air traffic control. Global News twenty four hours

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Speaker 11: a day and whenever you want it with Bloomberg News Now.

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Speaker 11: I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 3: Hey, Michael Barr, Thank you time now for the Bloombergy

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Speaker 3: Sports Update, and it's brought to you by Tri State Audi.

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Speaker 3: We bring in John stash Hour, John, good morning.

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Speaker 1: Hey, good morning, Karin Peede. Alonzo's free agency had dragged

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Speaker 1: on four months, but with spring training right around the corner,

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Speaker 1: it ended last night with the outcome the most expected.

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Speaker 1: He's staying with the Metal, though perhaps for not all

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Speaker 1: that long. It's just a two year deal and he

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Speaker 1: can opt out after the upcoming season when he'll make

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Speaker 1: thirty million. He also gets ten million as a signing bonus.

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Speaker 1: Alonzo has been a fan favorite since his record setting

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Speaker 1: fifty three home run rookie season and twenty nineteen and

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Speaker 1: Mets fans will never forget what he did last fall

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Speaker 1: in Milwaukee.

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Speaker 10: Here's the pitch swag on a fly ball to right field.

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Speaker 5: Pretty well hit freelick back at the wall, he jumps.

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Speaker 7: That's gone hate it, hate dad it haeyto Alonzo with the.

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Speaker 1: Most favorable home run of his career.

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Speaker 8: Pop says, fast as a round second, he's a three

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Speaker 8: run of homer.

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Speaker 3: He's given the Bets a three to two.

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Speaker 1: Late Damn, that's radio to call that home run hit

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Speaker 1: When the Mets were two outs from their season ending.

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Speaker 1: They ended up winning that series and the next. The

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Speaker 1: NBA trade deadline three o'clock today, and Jimmy Butler is

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Speaker 1: on the move. No surprise, he had demanded a trade

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Speaker 1: out of Miami. The heat in recent weeks had suspended

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Speaker 1: Butler three different times. He goes to Golden State and

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Speaker 1: the Warriors have given him a two year contract extension.

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Speaker 1: And next three game winning streak came to an end

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Speaker 1: beating in Brooklyn by low Lely Washington, who's only won

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Speaker 1: nine games all year at the Garden Rangers, with two

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Speaker 1: goals in the third period, beat the Bruins three to two.

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Speaker 1: Chris Crider the game winner shorthanded with eight minutes left.

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Speaker 1: College Hoops twentieth wins sixteenth in a row for second rank.

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Speaker 1: Duke at Syracuse by twenty nine, and the Blue Devils

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Speaker 1: are twelve to zero in the ACC for the first

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Speaker 1: time in almost twenty years. Seaton Hall lost by thirty

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Speaker 1: the Butler Rutgers knocked off twenty third rank Illinois. The

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Speaker 1: NFL continues to play games in other countries. Twenty twenty six, Melbourne, Australia,

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Speaker 1: the Rams will be one of the teams going. John

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Speaker 1: stash Heller blooms Board, Jimmy Nithon.

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Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 10: and around the world on Bloomberg dot Com and the

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Speaker 10: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 1: Good morning.

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Speaker 2: I'm Nathan Hager. Less than three weeks into President Donald

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Speaker 2: Trump's second term, Congress is coming up on a deadline

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Speaker 2: next month to pass a budget and push through some

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Speaker 2: of the president's biggest priorities, but Republicans are now split

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Speaker 2: on whether to do it in one bill or two.

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Speaker 2: Republican Congressman Bryan Byron Donald says time is running out.

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Speaker 5: Knowing President Trump. What he wants to see is action

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Speaker 5: and us to deliver, coming back to getting okay on

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Speaker 5: every single step. I don't think that is what he's

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Speaker 5: looking for.

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Speaker 2: That was Congressman Brian Donald speaking on Bloomberg's Balance of

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Speaker 2: Power this morning. We're joined by Bloomberg News Senior editor

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Speaker 2: Bill Ferries and Bill it might feel like we're getting

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Speaker 2: into the weeds a little bit when it comes to

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Speaker 2: the process of getting a budget done on Capitol Hill,

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Speaker 2: but the weeds matter. We see the President trum is

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Speaker 2: going to be calling Republican lawmakers to the White House

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Speaker 2: today to talk strategy.

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Speaker 6: Good morning, Good morning, that's right. I mean you mentioned

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Speaker 6: that the deadline is coming up, and I think patience

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Speaker 6: is running out. The Senate and the House have been

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Speaker 6: at odds, even though they're both controlled by Republicans, as

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Speaker 6: you know, but they've been at odds over how to

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Speaker 6: achieve some of President Trump's budgetarian policy goals here and

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Speaker 6: it looks like that is breaking more out into the

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Speaker 6: open today and we'll have to see if President Trump

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Speaker 6: can help make a decision. But essentially the Senate is

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Speaker 6: trying to strip things back a little bit and pass

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Speaker 6: some quick budget quicker budgetary legislation that would give the

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Speaker 6: president potentially about one hundred and fifty billion dollars in

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Speaker 6: new spending over four years for border security and immigration,

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Speaker 6: obviously one of his priorities. His borders are. Tom Homan

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Speaker 6: has said he needs additional financial resources soon if he's

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Speaker 6: going to keep up the pace of these deportation efforts.

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Speaker 6: And that's conflicting with the House's plan, Mike Johnson's plan

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Speaker 6: to basically have the budget and a whole bunch of

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Speaker 6: other issues, including tax cuts, all thrown into one big bill.

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Speaker 6: He's got a narrow majority, he's having a hard time

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Speaker 6: getting unity on that effort.

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Speaker 2: So what's the concern then on the House side about

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Speaker 2: splitting up the two issues. Can't they get them both

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Speaker 2: done in time?

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Speaker 6: Well, you know, President Trump has said a few times

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Speaker 6: that he would prefer one big bill. I think there's

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Speaker 6: some concern if you if you start to break this

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Speaker 6: stuff up, that you're going to have momentum building against

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Speaker 6: some aspects of it. To Mike Johnson's view is that

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Speaker 6: the more you can put in one package, the harder

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Speaker 6: it is for any one faction in his caucus to

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Speaker 6: to vote against it and deep six the whole, the

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Speaker 6: whole plan. So if he can keep it all together

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Speaker 6: for one up or down vote to him, that's that's

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Speaker 6: an easier solution than having multiple votes that might end

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Speaker 6: up with some Republicans either not voting in support or

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Speaker 6: voting against the proposal.

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Speaker 2: Apart from the budget debate going on bill, there's still

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Speaker 2: a lot of talk in Washington, I'm sure about President

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Speaker 2: Trump's proposal for the US to essentially take over Gaza

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Speaker 2: and redevelop it. But now it sounds like the White

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Speaker 2: House and some of the President's aides are at least

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Speaker 2: trying to temper some of that talk out about a

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Speaker 2: minute left.

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Speaker 6: Yeah, I mean, it's a been big debate in the

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Speaker 6: US and around the world, really, but you heard Secretary

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Speaker 6: of State Marco Rubio just saying that the US wants

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Speaker 6: to play a big role in rebuilding Gaza, but that

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Speaker 6: it doesn't want to own it. Defense Secretary Pete Hegseth

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Speaker 6: saying the US is quote a very long way away

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Speaker 6: from deploying the military. So you're definitely seeing a walk back.

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Speaker 6: The big pitch here, or the big idea I think

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Speaker 6: has been that. Listen, President Trump was thinking outside the

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Speaker 6: box here with that proposal, but it's really not where

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Speaker 6: the US is headed.

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Speaker 5: At this point.

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Speaker 8: He did the name