Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning.
Speaker 3: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 3: stories we're following today, Karen.
Speaker 2: We began in the Middle East. In some late breaking news,
Speaker 2: Israeli Prime Minister Benjamin D'atanyahu is accusing Hamas of renegging
Speaker 2: on parts of a ceasefire agreement that looked set to
Speaker 2: pause more than fifteen months of fighting in Gaza starting Sunday.
Speaker 2: Naton Yahu's office says new demands by the Palestinian group
Speaker 2: are an effort to extort last minute concessions. We get
Speaker 2: more from Bloomberg's Ethan Brunner.
Speaker 4: I mean, there are numerous, numerous details, which prisoners will
Speaker 4: be released on, what kind of schedule, all sorts of
Speaker 4: things that are not necessarily all written down, And so
Speaker 4: it's easy for one side to say suddenly the other
Speaker 4: side is making new demands, and fundamentally they have such
Speaker 4: different goals. The goal of Israel is for Hamas to
Speaker 4: be destroyed and eliminated in any position of power in Gaza,
Speaker 4: and the goal of Hamas is to retain its power
Speaker 4: and drive Israel out of Gaza. So ultimately they're on
Speaker 4: a kind of collision course even though they're theoretically negotiating
Speaker 4: a compromise.
Speaker 2: Bloomberg's Eeth and Brunner notes, under the terms of the agreement,
Speaker 2: Hamas would release thirty three hostages taken on October seventh,
Speaker 2: twenty twenty three, while Israel would pull out of populated
Speaker 2: areas in the Gaza Strip and release hundreds of Palestinian prisoners.
Speaker 2: Hama says it is committed to the ceasefire deal announced
Speaker 2: by the mediators.
Speaker 3: Well, Nathan, we want to turn to Washington now and
Speaker 3: a farewell from President Joe Biden. The President took the
Speaker 3: cameras in the Oval Office to deliver a final address
Speaker 3: to the nation and a warning about the administration to come.
Speaker 5: Today.
Speaker 6: An oligarchy is taking shape in America, of extreme wealth,
Speaker 6: power and influence that literally threads our entire democracy.
Speaker 3: President Biden echoed former President Dwight Eisenhower's warning of a
Speaker 3: military industrial complex, saying the nation now face is the
Speaker 3: threat of a tech industry real complex.
Speaker 2: Trained to politics. North of the US. Karen Canada has
Speaker 2: drawn up an initial list of more than one hundred
Speaker 2: billion dollars of US manufactured items that would hit with
Speaker 2: tariffs if President elect Donald Trump decides to levy tariffs
Speaker 2: against Canadian goods. Sources tell us the list is a
Speaker 2: draft and would come into play only if the Trump
Speaker 2: administration moves First Prime Minister Justin Trudeau and the premiers
Speaker 2: of Canada's provinces met yesterday. It's a plot, a strategy
Speaker 2: for dealing with US protectionism.
Speaker 3: Well Nathan. Donald Trump's pick for Treasury Secretary is hedge
Speaker 3: fund investor Scott Besson. He faces a Senate committee for
Speaker 3: his confirmation hearing later this morning, and Bloomberg's Amy Morris
Speaker 3: has a preview from Washington.
Speaker 7: Back in October, Besant told Bloomberg TV Donald Trump tends
Speaker 7: to be more involved in the financial side of things.
Speaker 5: He has a deep understanding of financial markets as opposed
Speaker 5: to most politicians, so he wants to be involved in
Speaker 5: the conversation.
Speaker 7: He has very well formed opinions. Bessett has said he
Speaker 7: plans to pursue policies that boost the US economic output
Speaker 7: whiles flashing budget deficits, and that his priority will be
Speaker 7: to deliver on Trump's tax cut proposals. But he's been
Speaker 7: known to not be as supportive of tariffs. That will
Speaker 7: be a big focus for senators and investors. Scott Besson
Speaker 7: still is expected to win approval easily from the Senate
Speaker 7: in Washington. Amy Moore as Bloomberg Radio.
Speaker 3: Right, Amy, thank you well and prepared remark set for
Speaker 3: later this morning. Besson will say maintaining the dollar as
Speaker 3: the world's reserve asset is critical to US economic health
Speaker 3: and the nation's future. Stay with Bloomberg for full coverage
Speaker 3: of Besson's confirmation hearing starting at ten thirty am Wall
Speaker 3: Street Time on Bloomberg Radio and Television.
Speaker 2: And Karen Is. TikTok continues to battle to keep its
Speaker 2: app operating in the US after this Sunday. The CEO
Speaker 2: of the company is joining the list of tech boguls
Speaker 2: attending Trump's inauguration on Monday. The New York Times is
Speaker 2: reporting CEO Show Choo has been invited to sit in
Speaker 2: a position of honor on the dais where former presidents
Speaker 2: and other important guests traditionally are seated. TikTok, which is
Speaker 2: owned by China's Bytdance, does face a Sunday deadline to
Speaker 2: find a US buyer in order to keep operating in
Speaker 2: the country. Politicians from both parties are looking for ways
Speaker 2: to keep TikTok accessible in this country despite that impending ban.
Speaker 3: All Nathan, we now want to turn to the latest
Speaker 3: developments in the battle if you contain the wildfires in
Speaker 3: Los Angeles and Bloomberg. John Tucker joins us for an update. John,
Speaker 3: Good morning, and good morning Careen.
Speaker 8: The traumatized region made it through yesterday without another major
Speaker 8: fire breaking out, and the last of the red flag
Speaker 8: warnings they're expected to end this afternoon. Was fire crews
Speaker 8: work to gain control. Officials also speaking to witnesses to
Speaker 8: find the cause of the blazes, including the devastating palisades
Speaker 8: and eaten fires. Jose Medina is with the ATF.
Speaker 2: We are talking to individuals about not just what they saw,
Speaker 2: but what they smelled and they heard.
Speaker 8: The fires have killed twenty five and destroyed more than
Speaker 8: twelve thousand structures. The government has yet to release damage estimates,
Speaker 8: but private firms expect they'll climb into the tens of
Speaker 8: billions and it could become the costliest fire disag yes
Speaker 8: in US history. I'm John Tucker, Bloomberg Radio.
Speaker 2: Thanks John. Turning out of Space Blue Origins new flagship
Speaker 2: rocket has lifted off for the first time and successfully
Speaker 2: reached orbit, all seven engines.
Speaker 4: Of cold product taking the pressures of good people through
Speaker 4: the tower.
Speaker 8: Now passing eighteen seconds in the.
Speaker 2: Play, New Glen thundered off the launch padd at Cape Canaveral, Florida,
Speaker 2: just after two am Eastern time. This mission is expected
Speaker 2: to last several hours. It put the company's Blue Ring
Speaker 2: pathfinder test satellite into orbit. That it was the main
Speaker 2: objective of the flight, but launch commentators did confirm that
Speaker 2: the booster portion of the New Glenn rocket was destroyed
Speaker 2: as it attempted to land on a barge in the
Speaker 2: Atlantic Ocean. That fell short of the mission's secondary goal.
Speaker 3: Well to the markets now, Nathan where futures are higher
Speaker 3: following Wednesday's one point eight percent rally on Wall Street
Speaker 3: that was the S and P five hundreds biggest gain
Speaker 3: since the aftermath of the election. The rally came out
Speaker 3: after core inflation eased for the first time in six months.
Speaker 3: Chicago Fed President Austin Goulesby says he's optimistic about the
Speaker 3: Fed's inflation battle.
Speaker 9: The trend continues to be improvement in inflation. I'm still
Speaker 9: optimistic for twenty twenty five that we can continue growing
Speaker 9: and have a soft.
Speaker 3: Landing Chicago Fed President Austin Goulesby. Investors are now betting
Speaker 3: the Central Bank is likely to lower itge benchmark interest
Speaker 3: rate by half a percentage point this year.
Speaker 2: And bank earnings continue this morning, Karen, They come after
Speaker 2: blowout results yesterday from JP Morgan Chase, Goldman, Sachs, City Group,
Speaker 2: and Wells Fargo. We get more from Bloomberg Intelligence senior
Speaker 2: banking analyst Alison Williams.
Speaker 10: Certainly the bar has been raised for Bank of America
Speaker 10: and Morgan Stanley after strong sets of results from the
Speaker 10: other four big US banks. We're expecting to see at
Speaker 10: Bank of America an interest income growth. We could see
Speaker 10: upside to the guidance in the near term. We've also
Speaker 10: I've seen good expense control and solid credit trends. We
Speaker 10: also expect to see a Bank of America. However, we
Speaker 10: note that their first quarter does tend to have seasonally
Speaker 10: higher expenses, so we could see that in their guidance.
Speaker 2: Allison Williams of Bloomberg Intelligence says, so far, the big
Speaker 2: banks have notched their second most profitable year ever.
Speaker 3: Time. Now for a look at some of the other
Speaker 3: stories making news in New York and around the world.
Speaker 3: And for that we're joined by Bloomberg's Michael Barr. Welcome back, Michael,
Speaker 3: Thank you.
Speaker 5: Very much, Karen. President elect Trump's pick for Attorney General,
Speaker 5: Pam Bondy, was in the hot seat on Capitol Hill
Speaker 5: yesterday and the latest in the series of confirmation hearings
Speaker 5: for the incoming administration. During her confirmation hearing, Bondi refused
Speaker 5: to say that Trump lost the twenty twenty election. Democrats
Speaker 5: on the Senate Judiciary Committee press Bondy on whether she
Speaker 5: will truly be independent from President elect.
Speaker 4: Trump if confirmed.
Speaker 7: I will do everything in my power and it will
Speaker 7: be my great responsibility to make America safe again.
Speaker 5: Bondi's confirmation is all but assured, with Republicans praisinger. President
Speaker 5: elect Trump has repeatedly expressed interest in either buying Greenland
Speaker 5: from Denmark We're taking it by force. During his Senate
Speaker 5: confirmation hearing, Senator Marco Rubio explained buying Greenland would be
Speaker 5: an important piece of land for the US. Trump has
Speaker 5: nominated Rubio as his next Secretary of State. Rubio says
Speaker 5: talking about acquiring Greenland isn't new.
Speaker 6: Harry Truman made an effort to try to buy for
Speaker 6: one hundred million dollars. He was rebuffed, and then the
Speaker 6: US has maintained through a mutual defense agreement, there the
Speaker 6: opportunity to base its military bases, and I have them
Speaker 6: for a while.
Speaker 5: It's believed the Senate will begin to start voting this
Speaker 5: Monday on Inauguration Day to confirm some of Trump's picks.
Speaker 5: The US Federal Trade Commission and two states who tractor
Speaker 5: giant Deer, alleging the company legally monopolized agricultural equipment repairs.
Speaker 5: The FTC and state attorneys general from Illinois and Minnesota
Speaker 5: filed a complaint in federal court in Chicago's saying the
Speaker 5: tractor manufacturer withheld key information and diagnostic tools from farmers
Speaker 5: and independent repair shops. FTC chair Lina Khan spoke to Bloomberg.
Speaker 11: They've been steered into Deer's network of authorized dealers, which
Speaker 11: practically means they're paying more, and especially for farmers that
Speaker 11: live in rural areas, it means they sometimes have to
Speaker 11: drive hours to even get to the nearest dealer.
Speaker 5: Deer's vice president of after market and Customer Supports said
Speaker 5: in a statement the lawsuit is meritless. The FDA is
Speaker 5: ordering food and drug makers to remove a die called
Speaker 5: red number three from the products consumers eat and drink.
Speaker 5: The colorant was banned from cosmetics and non oral medications
Speaker 5: decades ago because the study showed it cause to cancer
Speaker 5: when eaten by rats. Global News twenty four hours a
Speaker 5: day and whenever you want it with the Bloomberg News. Now,
Speaker 5: I'm Michael Barm, and this is Bloomberg caret all.
Speaker 3: Right, Michael Barr, thank you time now for the Bloomberg
Speaker 3: Sports Update, brought to you by Tri State. Howdy. Here's
Speaker 3: John Stamshower. John, good morning, Good morning care.
Speaker 12: Nixon Sixers in Philadelphia. Nicks had a sixteen point league,
Speaker 12: led by thirteen and a half in a fifty three
Speaker 12: minute game. They never once trailed, yet their victory was
Speaker 12: anything but easy. Philly made up the deficit in the
Speaker 12: third quarter of the game, was tied several times. In
Speaker 12: the fourth. It went to overtiming. With Karl Anthony Towns
Speaker 12: out with an injured thumb, Jalen Brunson stepped.
Speaker 13: Up Clockett ten Kate Crockett twenty two fronts. It breaks
Speaker 13: his inside lead. Jalen Brunson exposure Bronts at thirty points
Speaker 13: five rebounds, four assists. You hear the Knicks chance meet
Speaker 13: in Philadelphia, bron sits.
Speaker 12: Three stood how E spn Nicks won one twenty five
Speaker 12: one nineteen. Brunson scored thirty eight points. Josh Hart had
Speaker 12: triple double. The Los Angeles Nets and Clippers tie that
Speaker 12: to the first quarter, but LA won the second quarter
Speaker 12: by twenty three points and the third by twenty eight.
Speaker 12: In the fourth, they were up by sixty four. The
Speaker 12: Clippers won one twenty six to sixty seven. It's their
Speaker 12: biggest blowout win ever and the most lopsided loss in
Speaker 12: Net's history. They had lost by fifty two to Houston
Speaker 12: in nineteen seventy eight. Celtics lost at Toronto, won ten
Speaker 12: ninety seven. The big East Seaton Hall loss at Butler.
Speaker 12: At Fordham's Venerable rose Hill Gym, they celebrated the one
Speaker 12: hundredth anniversary of college basketball's oldest still active arena, and
Speaker 12: then Fordham lost to UMass in triple overtime. Quinn ewers
Speaker 12: the quarterback at Texas the past three seasons going pro,
Speaker 12: which means Archie Manning will finally take over as the
Speaker 12: Longhorn starting QB at the Australian Open. Taylor Fritz lost
Speaker 12: only three games in three sets, but fellow American Francis
Speaker 12: Tiafa lost in five sets. Top Seedionic Center playing now
Speaker 12: tied one set off. John stash Shower Bloomberg.
Speaker 7: Sports, Jarny Nickols.
Speaker 1: Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam,
Speaker 1: and around the world on Bloomberg dot Com and the
Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 5: Good morning.
Speaker 2: I'm Nathan Hager. Israel and Hamas appeared on the cusp
Speaker 2: of a pause to fifteen months of fighting after agreeing
Speaker 2: to a six week ceasefire and deferring hostages and moving
Speaker 2: in aid to Gaza. But as the deal was announced,
Speaker 2: White House National Security spokesman John Kirby sounded a tentative note.
Speaker 14: Now comes the real hard work of putting the modalities
Speaker 14: of the plan in place and executing to it over
Speaker 14: the course of the weeks and months ahead, and that's
Speaker 14: going to be tough work.
Speaker 2: John Kirby's words may be ringing true this morning. Is
Speaker 2: Israel now accuses Hamas of renegging on parts of the deal.
Speaker 2: For the very latest, we go to Tel Aviv and
Speaker 2: check in with Bloomberg News Israel Bureau chief Ethan Bronner. Ethan,
Speaker 2: good morning. What is Israel accusing Hamas of? Do we
Speaker 2: have a sense of what aspects of the deal that
Speaker 2: Hamas is accused of renegging on.
Speaker 4: They haven't specified. Earlier in the day, the Prime Minister's
Speaker 4: office complained that Hamas was asserting that it had the
Speaker 4: right to choose all of the prisoners that were going
Speaker 4: to be released by Israel rather than clearing them with Israel,
Speaker 4: and that Israel said that was not part of the agreement.
Speaker 4: So that may be more of the same it maybe
Speaker 4: other details. There's so many details here that one could
Speaker 4: accuse the other side of suddenly changing course on. I
Speaker 4: think it's important to say something else, which is that
Speaker 4: the deal is facing a fair amount opposition in the
Speaker 4: government on the far right of the government. Two parties
Speaker 4: that the coalition rely on, relies on to continue to exist,
Speaker 4: are threatening to possibly leave the government over this deal.
Speaker 4: So these two facts, two phenomena may be related. The
Speaker 4: Prime Minister's statement complaining about Hamas and the opposition here
Speaker 4: in Israel.
Speaker 2: So then, Ethan, does this mean at this point that
Speaker 2: the deal is off or is there still a chance
Speaker 2: that this can be salvaged.
Speaker 4: Well, the deal is not yet on. I wouldn't call
Speaker 4: it off, I have to. I just don't know the
Speaker 4: answer to that. I think that if in theory Hamas responds,
Speaker 4: it's already responded and said, that's not true. We're not
Speaker 4: doing anything that you're accusing us of. But if they
Speaker 4: somehow work out those details, I would imagine that the
Speaker 4: cabinet here would pass it. But they have. Prime Minister
Speaker 4: has announced that he's not even going to hold a
Speaker 4: vote in the cabinet until he solves this Hamas last
Speaker 4: minute problem. And it's very hard to know what this
Speaker 4: amounts to. I really can't answer you. I don't know, Okay.
Speaker 2: Well, in the speech that President Biden gave last night
Speaker 2: his farewell address, he mentioned the Gaza cease fire deal
Speaker 2: as one of his accomplishments, saying it was going to
Speaker 2: be something that was going to be left to the
Speaker 2: next administration to implement. We've talked before about the massive
Speaker 2: US pressure that's been put on both sides in these
Speaker 2: last few weeks during the transition. What could this mean
Speaker 2: for the US in terms of its influence As we
Speaker 2: start to see this as you know, sort of tentative
Speaker 2: doubt raised about this proposal.
Speaker 4: I think you're right to raise the question, Nathan. I mean,
Speaker 4: you know, in theory, everyone was giving a lot of
Speaker 4: credit to President Trump in coming President Trump for having
Speaker 4: squeezed this out of the nitagne Is and also from
Speaker 4: Katar onto Hamas, all those things. I think it's true.
Speaker 4: But on the other hand, it's also the circumstances of
Speaker 4: the last six months that really made the difference, which
Speaker 4: had to do with the neutering Ofbellah and the killing
Speaker 4: of a number of Hamas leaders, the collapse of the
Speaker 4: Syrian regime under Havas Lasad, and the difficulties that Iran
Speaker 4: has faced. So all those things are still here. But
Speaker 4: it turned out and so we thought that the circumstances
Speaker 4: were ripe for a deal, But it turned out that
Speaker 4: inside Israel, and it must be said, on the right
Speaker 4: side of the American Jewelry, there is a great concern
Speaker 4: that too much is being given to Hamas, that too
Speaker 4: many people with so called blood on their hands are
Speaker 4: going to be freed, and that this organization that's vowed
Speaker 4: to destroy Israel will be reconstituted. That seems to be
Speaker 4: what's driving the anger on the right of the opposition,
Speaker 4: and it took me a little by surprise this morning
Speaker 4: that it has become so powerful. But we are in
Speaker 4: a situation where I don't know what's going to be.
Speaker 3: This is Bloomberg Daybreak, your morning podcast on the stories
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