WEBVTT - Debt Ceiling Latest; Saudi Oil Warning

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<v Speaker 1>From the Bloomberg Interactive Burgers Studios. This is Bloomberg day

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<v Speaker 1>Break for Tuesday, May twenty third.

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<v Speaker 2>Coming up today, still no deal. President Biden and Speaker

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<v Speaker 2>McCarthy meet again to try to avert a default.

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<v Speaker 1>Two FED officials and Jamie Diamond expect more rate increases.

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<v Speaker 2>Saudi Arabia sents a warning to oil short sellers from

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<v Speaker 2>the Cutter Economic Forum, and.

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<v Speaker 1>You'lp share surge as an activist pushes a sale.

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<v Speaker 3>Looks like subway and bus fairs are going up. Donald

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<v Speaker 3>Trump's accuser amend's her lawsuit. I'm John Tuffer. Those stories

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<v Speaker 3>straight Ahead.

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<v Speaker 4>From John Stas Sharon Sports. The Nuggets finished a sweep

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<v Speaker 4>for the Lakers, another win for the Florida Panthers. Yankees

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<v Speaker 4>host the Orioles tonight them Let's visit the.

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<v Speaker 5>Code That's all straight Ahead on Bloomberg day Break, The

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<v Speaker 5>Business news you need to sturn your day in just

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<v Speaker 5>one fifteen minute podcast each morning on Apples, Spotify, the

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<v Speaker 5>Bloomberg Business app and everywhere you get your podcasts.

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<v Speaker 2>Good good morning. I'm Nathan Hager.

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<v Speaker 1>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 2>Karon, They're still talking, but there's still no deal. That's

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<v Speaker 2>where things stand in debt ceialing negotiations between President Biden

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<v Speaker 2>and House Speaker Kevin McCarthy, with the earliest possible default

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<v Speaker 2>now just nine days away. Speaker McCarthy says last night's

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<v Speaker 2>discussions were productive, but the Republican position is clear. We're

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<v Speaker 2>not going to raise taxes because we bring in more

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<v Speaker 2>money than we ever have, and we're not going to

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<v Speaker 2>pass the clean debt ceiling, and we've got to spend

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<v Speaker 2>less than we spent this year, and so everything else.

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<v Speaker 6>Is open for negotiations, but.

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<v Speaker 1>That is at the end of the day.

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<v Speaker 7>It has to fit in that place.

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<v Speaker 2>If President Biden released a statement after the meeting, he

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<v Speaker 2>says he reiterated that default is off the table and

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<v Speaker 2>the only way to move forward is to reach a

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<v Speaker 2>bipartis in agreement. Speaker McCarthy says he plans to speak

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<v Speaker 2>with the President every day until they reach a deal.

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<v Speaker 1>Well, Nathan, the stalemate comes a bit another warning from

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<v Speaker 1>Janety Yellen. The Treasury Secretary, says it's now quote highly

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<v Speaker 1>likely that her department will run out as a few

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<v Speaker 1>cash in early June. In fact, she repeated her warning

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<v Speaker 1>that the moment could come as soon as June.

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<v Speaker 2>First, and as detlimit talks continue Karen Reaction pours in

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<v Speaker 2>on both sides of the aisle. Former Democratic Senator Barbara

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<v Speaker 2>Boxer says President Biden shouldn't have to negotiate.

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<v Speaker 7>I do trust the President. I don't like the fact

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<v Speaker 7>that there is a negotiation.

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<v Speaker 1>I personally liked it better when he said he wasn't

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<v Speaker 1>going too, but it is.

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<v Speaker 5>What it is.

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<v Speaker 2>The former senator. Boxer says she trusts the President not

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<v Speaker 2>to give in on his positions. Meanwhile, former acting White

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<v Speaker 2>House Chief of Staff mcmulvaney says, Speaker McCarthy has done

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<v Speaker 2>a good job.

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<v Speaker 8>I thank Kevin feels what he has held up his

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<v Speaker 8>end of the bargain. He got his extreme right wing

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<v Speaker 8>on board with a package that nobody thought he could pass.

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<v Speaker 8>No one thought he could pass any package to raise

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<v Speaker 8>the debt ceiling, but he did.

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<v Speaker 9>Now.

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<v Speaker 8>I think if you ask Kevin and el Kenda, what

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<v Speaker 8>he's worried about is he doesn't think that Biden has

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<v Speaker 8>control over his progressive way in the same way that

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<v Speaker 8>Kevin is working with his right wing.

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<v Speaker 2>Mcmulvaney and Barbara Boxer were both guests on Bloomberg's Sound

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<v Speaker 2>On Catch the program weekdays one pm Eastern on Bloomberg

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<v Speaker 2>Radio or listen on demand wherever you get your podcasts.

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<v Speaker 1>Well, as investors deal with the possibility of a debt default, Nathan,

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<v Speaker 1>the prospect of more rate hikes may also be in

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<v Speaker 1>the card. Saint Louis Fed President James Bullard says he's

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<v Speaker 1>backing more hikes this year to quell inflation.

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<v Speaker 10>I'm thinking, you know, two more moves this year. Now,

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<v Speaker 10>exactly where those would be this year, I don't know,

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<v Speaker 10>but I've often advocated sooner rather than later. You want

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<v Speaker 10>to get the downward pressure on inflation while you can.

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<v Speaker 10>And also, you know, you want to fight inflation while

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<v Speaker 10>the labor market's really strong.

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<v Speaker 1>And Buller's call for more tightening is echoed by fellow

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<v Speaker 1>policymaker Neil Kashkari. The Minneapolis Fed president, says that if

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<v Speaker 1>the Central Bank does pause, it should not be taken

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<v Speaker 1>as a sign that tightening is over well.

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<v Speaker 2>JP Morgan Chase CEO Jamie Diamond is also predicting more

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<v Speaker 2>rate hikes. Karen. He spoke at the bank's Investor Day

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<v Speaker 2>in New York.

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<v Speaker 9>I think everyone should be prepared for rates going higher

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<v Speaker 9>from here. You know, if that five percent none off

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<v Speaker 9>of that funds if I and I've been advising this

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<v Speaker 9>to clients and banks, you should be paired for six seven.

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<v Speaker 2>Jamie Diamond, who's sixty seven years old, says he is

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<v Speaker 2>still invigorated and has no plans to quit anytime soon.

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<v Speaker 11>Well.

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<v Speaker 1>Turning to the commodity markets now Nathan a warning from

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<v Speaker 1>Saudi Arabia's top energy official to oil short sellers a

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<v Speaker 1>week before opek Plus's next meeting.

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<v Speaker 7>I don't have to show my cards.

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<v Speaker 9>I'm not a poker player, and I don't know poker

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<v Speaker 9>how to play poker. But I got it from a

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<v Speaker 9>movie somewhere.

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<v Speaker 12>But but I.

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<v Speaker 7>Would just tell him watch out.

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<v Speaker 1>And that was Saudi Energy Minister Prince Abdulazi has been

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<v Speaker 1>salmon speaking earlier this morning at the Cutter Economic Forum

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<v Speaker 1>in a Doha and checking oil right now, I'm excrude

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<v Speaker 1>oil is down a third of up percent. It's seventy

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<v Speaker 1>one dollars eighty two cents a barrel.

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<v Speaker 2>In Corporate news this morning, Karen TikTok is soon going

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<v Speaker 2>to grant Oracle full access to its source code, its

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<v Speaker 2>algorithm and its content moderation material.

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<v Speaker 13>More from Bloomberg's Doug Prisner. The plan aims to alleviate

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<v Speaker 13>criticism from US policymakers who worry TikTok's ownership by China's

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<v Speaker 13>Bike Dance opens the door to influence her data collection

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<v Speaker 13>by the Chinese government. Now, TikTok's data for US users

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<v Speaker 13>will be cordoned off and it's technology reviewed by partners

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<v Speaker 13>like Oracle to assess security risk. Oracle will also begin

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<v Speaker 13>monitoring the controlled gateways where data comes in and out

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<v Speaker 13>of the secure environment. Oracle set up on servers to

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<v Speaker 13>host data from TikTok's US users in New York. I'm

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<v Speaker 13>Doug Prisoner, Bloomberg Daybreak.

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<v Speaker 1>All right, Doug, thanks, we'll share of Yelp a fourteen

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<v Speaker 1>percent at early training. The Wall Street Journal reporting an

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<v Speaker 1>activist investor as called for the company to look into

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<v Speaker 1>a sale and other strategic options. The paper says TCS

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<v Speaker 1>Capital Management plans to deliver a letter to Yelp's board

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<v Speaker 1>later today in which it makes the case for a sale.

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<v Speaker 2>You know the earnings Newscaren Zoom Videos raise its full

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<v Speaker 2>year sales forecast. Bloomberg's Charlie Pellett reports.

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<v Speaker 11>It is a positive sign for the software makes effort

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<v Speaker 11>to continue growing in a post pandemic world. The San

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<v Speaker 11>Jose based company said revenue for the fiscal year ending

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<v Speaker 11>in January twenty twenty five will be four point four

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<v Speaker 11>seven to four point four nine billion dollars. That is

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<v Speaker 11>up from an earlier outlook of about four point four

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<v Speaker 11>to four billion. Zoom, which burst into public consciousness during

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<v Speaker 11>the height of the pandemic, is fighting to reverse us

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<v Speaker 11>slow down in growth for its video communications service by

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<v Speaker 11>expanding its tools for business in New York. Charlie Pellett

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<v Speaker 11>Bloomberg Dabris.

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<v Speaker 2>Time now to take a look at some of the

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<v Speaker 2>other stories making news in New York and around the world.

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<v Speaker 2>For that, we are joined by Bloomberg's John Tucker.

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<v Speaker 3>Good morning, John, Yeah, Good morning, Dathan. Was Subway and

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<v Speaker 3>bus fares maybe going up? The Metropolitan Transportation Authority planning

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<v Speaker 3>to boost its fares and tolls in late August, as

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<v Speaker 3>the largest US transit provider looks to collect more revenue

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<v Speaker 3>to help close budget deficits. The MTA considering boosting the

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<v Speaker 3>cost of a single subway or bus ride to two

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<v Speaker 3>dollars ninety cents from two seventy five. It is the

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<v Speaker 3>extra cash as ridership hasient to match pre pandemic levels.

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<v Speaker 3>Weekday subway ridership is about seventy percent of what it

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<v Speaker 3>was in twenty nineteen. The New York author who won

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<v Speaker 3>a five billion dollar sexual abuse trial against Donald Trump

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<v Speaker 3>this month is seeking new damages that story from Bloomberg's

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<v Speaker 3>Jeff Bellinger.

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<v Speaker 7>Egene Carroll is asked a federal judge in Manhattan to

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<v Speaker 7>allow additional details in the suit in which she claims

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<v Speaker 7>Trump defamed her. She wants to add remarks he made

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<v Speaker 7>about her on a recent CNN town hall. She's now

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<v Speaker 7>demanding ten million dollars. During the televised town hall, which

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<v Speaker 7>aired one day after a sexual abuse verdict against the

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<v Speaker 7>former president, Trump lashed out at Carroll. He called her

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<v Speaker 7>allegations a fake story and dismissed her as a whack job.

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<v Speaker 7>In the question and answer session from New Hampshire Jeff

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<v Speaker 7>Bellinger Bloomberg Radio.

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<v Speaker 3>US Labor Board prosecutors a lunch and a cod Amazon

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<v Speaker 3>repeatedly violated federal labor law at its sole unionized warehouse

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<v Speaker 3>on Staten Island. In a filing the National Labor Relations

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<v Speaker 3>Board Regional director writes that Amazon unilaterally changed policies and

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<v Speaker 3>terminated union supporters. Republican South Carolina Senator Tim Scott joining

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<v Speaker 3>what is likely to become a packed race for the

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<v Speaker 3>GUOP nomination and will go toe to toe with contenders

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<v Speaker 3>like former President Donald Trump. During his remarks at the

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<v Speaker 3>announcement rally, Scott described the country under the Biden administration

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<v Speaker 3>as a nation in retreat that's under attack from the

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<v Speaker 3>far left.

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<v Speaker 11>Attacking our American values, our schools, our economy, and our security.

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<v Speaker 3>But not on my watch, not on my watch. Word

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<v Speaker 3>this morning that Ukrainian President Flodimir Zelensky has met with

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<v Speaker 3>troops at the front line of Ukraine's Donesque region. His

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<v Speaker 3>visit may be a much needed boost to morale. The

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<v Speaker 3>eastern Ukrainian town of Bakhmud was just capture by Russian

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<v Speaker 3>forces after more than two hundred and twenty days of

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<v Speaker 3>house to house fighting. Global News twenty four hours a

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<v Speaker 3>day were powered by more than twenty seven hundred journalist

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<v Speaker 3>at analysts in more than one hundred and twenty countries.

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<v Speaker 3>I'm John Tucker. This is Bloomberg, Nathan.

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<v Speaker 2>Thank you John. Time now for the Bloomberg Sports Update.

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<v Speaker 2>Good morning, John Stanshauer.

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<v Speaker 4>Good morning, Nathan. If the Heat beat the Celtics tonight

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<v Speaker 4>Game four in Miami, then the NBA will have something

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<v Speaker 4>that hasn't had since nineteen fifty seven, two series sweeps.

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<v Speaker 4>Going into the Finals Game four in the West and

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<v Speaker 4>NLA Lakers looked like they were gonna stay alive. They

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<v Speaker 4>led Denver by fifteen at the half and then got

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<v Speaker 4>out scored by twenty in the third corner. The Nuggets

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<v Speaker 4>won one thirteen, one eleven. It's their first ever series sweep,

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<v Speaker 4>their first ever trip to the NBA Finals. Nikola Jokicz

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<v Speaker 4>thirty points, fourteen rebounds, thirteen assists. Lebron James scored forty

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<v Speaker 4>thirty one in the first half, but he missed two

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<v Speaker 4>game time shots down the stretch, and Lebron then surprised

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<v Speaker 4>many by hinting at retirement. If they Heat win tonight,

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<v Speaker 4>they're into the finals as an eight seed. The hockey

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<v Speaker 4>team from South Florida also one win from an East

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<v Speaker 4>Final sweep on a trip to the Stanley Cup Final

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<v Speaker 4>as an eight seed. The Panthers top Carolina one nothing.

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<v Speaker 4>Florida has won ten of its last eleven playoff games

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<v Speaker 4>and nine of the ten wins have been by one goal.

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<v Speaker 4>Yankees back at the stadium tonight to play Baltimore. Here's

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<v Speaker 4>Aaron Bowen after the six to one road.

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<v Speaker 14>Trend, excited about how well this team is competing their

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<v Speaker 14>level of again, walk in with edge, prepare and compete,

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<v Speaker 14>and they're doing that at a high level right now.

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<v Speaker 4>Eric Colet and I facing the much improved Orioles who

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<v Speaker 4>have baseball second best record. Mets and Cubs at Wrigley,

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<v Speaker 4>Mets going for a six straight win. Tiger Woods made

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<v Speaker 4>official he won't play next month's US Open. Tom Brady

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<v Speaker 4>has officially become a minority owner in the Las Vegas Raiders.

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<v Speaker 4>NFL approved flexing some Thursday night games good for TV,

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<v Speaker 4>but the Jets and Giants both voted no, Billy need

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<v Speaker 4>was unfair to fans who attend the games. Johns Dash

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<v Speaker 4>Edward Bloomberg Sports.

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<v Speaker 6>Live from coast to coast, from New York to San Francisco,

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<v Speaker 6>Boston to Washington, DC, nationwide on Siriusxam of Bloomberg Business

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<v Speaker 6>Appen Bloomberg dot com. This is Bloomberg Daybreak.

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<v Speaker 2>Good morning. I'm Nathan Hager with the US now just

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<v Speaker 2>nine days from a potentially catastrophic default on its debt.

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<v Speaker 2>House Speaker Kevin McCarthy has emerged from his latest meeting

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<v Speaker 2>with President Biden without a deal, but with a promise

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<v Speaker 2>to keep talking.

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<v Speaker 7>We know the deadline.

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<v Speaker 10>I think the President and I are going to talk

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<v Speaker 10>every day to try to find until we get this done.

0:11:39.360 --> 0:11:41.959
<v Speaker 2>That was Speaker McCarthy following that White House meeting last night.

0:11:41.960 --> 0:11:45.160
<v Speaker 2>For more, we are joined from Washington by Bloomberg government

0:11:45.200 --> 0:11:49.720
<v Speaker 2>reporter Jack Fitzpatrick, who has been following these discussions for

0:11:49.960 --> 0:11:53.240
<v Speaker 2>weeks now. Jack, good morning. We keep hearing from both

0:11:53.280 --> 0:11:57.080
<v Speaker 2>sides that the talks are productive, but they haven't produced

0:11:57.080 --> 0:12:00.520
<v Speaker 2>a deal just yet. So where do things stand this morning.

0:12:01.600 --> 0:12:05.960
<v Speaker 12>Well, they can't really lock any partial agreement and until

0:12:06.040 --> 0:12:09.240
<v Speaker 12>everything is agreed to, so they're still talking about all

0:12:09.280 --> 0:12:13.480
<v Speaker 12>the issues we've heard about. They're talking about spending cuts

0:12:13.520 --> 0:12:18.079
<v Speaker 12>and then caps on out year spending. The energy permitting

0:12:19.000 --> 0:12:24.520
<v Speaker 12>expedited measures are still under discussion. Work requirements for nutrition

0:12:24.679 --> 0:12:28.320
<v Speaker 12>aid are still under discussion, and they're probably not going

0:12:28.360 --> 0:12:31.080
<v Speaker 12>to announce that they've agreed on some portion of it

0:12:31.240 --> 0:12:35.439
<v Speaker 12>until they've got the whole thing locked in. They seem

0:12:35.520 --> 0:12:39.679
<v Speaker 12>to all understand that this needs to happen by very

0:12:39.760 --> 0:12:43.440
<v Speaker 12>early June. They're working under the assumption that June first

0:12:43.520 --> 0:12:46.880
<v Speaker 12>is the deadline, and there really hasn't been any information

0:12:47.040 --> 0:12:50.120
<v Speaker 12>that conflicts with that. It does look like the deadline

0:12:50.160 --> 0:12:54.160
<v Speaker 12>absolutely could be in early June. They want to get

0:12:54.160 --> 0:12:58.720
<v Speaker 12>this a handshake deal done as soon as possible because

0:12:58.760 --> 0:13:01.840
<v Speaker 12>McCarthy is determined to get his members seventy two hours

0:13:01.880 --> 0:13:04.400
<v Speaker 12>to review it before he asks for a vote, and then,

0:13:04.480 --> 0:13:06.480
<v Speaker 12>of course you've still got to get it through the Senate.

0:13:06.960 --> 0:13:10.040
<v Speaker 12>So they're kind of up against the wall here in

0:13:10.120 --> 0:13:12.880
<v Speaker 12>terms of timing and sticking to their own schedule of

0:13:12.920 --> 0:13:16.360
<v Speaker 12>allowing members to read something. So there's an expectation that

0:13:16.400 --> 0:13:18.719
<v Speaker 12>they're going to really push to get something out. If

0:13:18.760 --> 0:13:21.440
<v Speaker 12>not today, then absolutely as soon as possible.

0:13:21.600 --> 0:13:23.800
<v Speaker 2>Yeah, you laid out a long list of bullet points

0:13:23.840 --> 0:13:27.679
<v Speaker 2>there where there remains disagreement, and laid out very nicely.

0:13:28.240 --> 0:13:32.280
<v Speaker 2>How little time there is. Does that leave enough time

0:13:32.800 --> 0:13:36.160
<v Speaker 2>to get an agreement on all those points? Or can

0:13:36.200 --> 0:13:39.520
<v Speaker 2>they just agree on a few things and move something

0:13:39.559 --> 0:13:42.080
<v Speaker 2>forward that can at least avert a default.

0:13:43.080 --> 0:13:45.600
<v Speaker 12>Well, some things can kind of fall off the map,

0:13:46.040 --> 0:13:50.160
<v Speaker 12>and even recently there have been other proposals that kind

0:13:50.160 --> 0:13:53.600
<v Speaker 12>of quickly got taken off the table. The White House

0:13:53.640 --> 0:13:58.520
<v Speaker 12>has brought up increased revenues, closing tax loopholes, and the

0:13:58.559 --> 0:14:02.200
<v Speaker 12>Republicans have been pushing back against that, you know, but

0:14:02.440 --> 0:14:06.640
<v Speaker 12>the core of it really is a conversation about limiting spending.

0:14:06.760 --> 0:14:10.080
<v Speaker 12>Find deciding how much they want to cut from discretionary

0:14:10.120 --> 0:14:13.559
<v Speaker 12>spending in the next year, and then how low they

0:14:13.600 --> 0:14:16.680
<v Speaker 12>want to cap it in the out years. A lot

0:14:16.720 --> 0:14:19.560
<v Speaker 12>of things could fall into place if they agree on that.

0:14:19.720 --> 0:14:23.160
<v Speaker 12>It's basically that they need to agree on a budgetary framework,

0:14:23.720 --> 0:14:26.360
<v Speaker 12>and that's difficult to do to get something that McCarthy

0:14:26.400 --> 0:14:30.000
<v Speaker 12>and Biden can sell to their members and get through

0:14:30.000 --> 0:14:32.880
<v Speaker 12>the House and get sixty votes in the Senate. But

0:14:33.080 --> 0:14:35.600
<v Speaker 12>it is absolutely possible that, you know, that's just a

0:14:35.600 --> 0:14:38.280
<v Speaker 12>matter of numbers. They could agree to something very quickly

0:14:38.320 --> 0:14:41.160
<v Speaker 12>if they are both determined to make some concessions and

0:14:41.200 --> 0:14:41.920
<v Speaker 12>get this done.

0:14:42.560 --> 0:14:46.280
<v Speaker 2>Yeah, that is the question. You can have a framework,

0:14:46.360 --> 0:14:50.760
<v Speaker 2>but there remains the question of whether it can garner

0:14:50.880 --> 0:14:54.200
<v Speaker 2>enough support to pass both chambers of Congress. Do you

0:14:54.240 --> 0:14:58.080
<v Speaker 2>get a sense that there would be enough bipartisan agreement

0:14:58.440 --> 0:15:00.800
<v Speaker 2>to move a framework deal forward.

0:15:01.680 --> 0:15:06.040
<v Speaker 12>If it gets those two principal negotiators on board. That

0:15:06.200 --> 0:15:08.800
<v Speaker 12>is a very good sign. There's a lot that goes

0:15:08.840 --> 0:15:14.160
<v Speaker 12>into that. McCarthy needs something that is weighted toward Republican support.

0:15:14.240 --> 0:15:17.200
<v Speaker 12>They can rely on Democratic votes. They don't need two

0:15:17.280 --> 0:15:20.320
<v Speaker 12>hundred and eighteen Republican votes in the House, but he

0:15:20.440 --> 0:15:25.800
<v Speaker 12>needs definitely the majority of his conference, maybe something more comfortable,

0:15:25.840 --> 0:15:31.840
<v Speaker 12>maybe two thirds to support this. The Senate could get complicated.

0:15:31.880 --> 0:15:35.360
<v Speaker 12>You could put Senator Schumer, the majority leader, in a

0:15:35.360 --> 0:15:38.280
<v Speaker 12>tough position if there are more Republicans supportive of the

0:15:38.320 --> 0:15:41.920
<v Speaker 12>measure than Democrats. But it is considered a pretty safe

0:15:41.960 --> 0:15:44.520
<v Speaker 12>bet that this can get sixty votes if it's got

0:15:44.600 --> 0:15:48.400
<v Speaker 12>the House majority behind it and a Democratic president. It

0:15:48.440 --> 0:15:52.080
<v Speaker 12>really then would be more of a concern about political

0:15:52.160 --> 0:15:56.120
<v Speaker 12>leader's popularity among their own members. But if they get

0:15:56.120 --> 0:15:59.080
<v Speaker 12>these two negotiators, the president and the Speaker of the House,

0:15:59.120 --> 0:16:01.280
<v Speaker 12>on board, then it's had a very very good chance

0:16:01.600 --> 0:16:03.080
<v Speaker 12>in both chambers.

0:16:03.400 --> 0:16:05.720
<v Speaker 2>Only about thirty seconds left here, Jack, Is there any

0:16:05.720 --> 0:16:08.560
<v Speaker 2>reason to think the next round of discussions could be

0:16:08.600 --> 0:16:11.200
<v Speaker 2>any different, could get us closer to a deal.

0:16:12.440 --> 0:16:17.160
<v Speaker 12>We're basically in continuous negotiations. Even when McCarthy and Biden

0:16:17.160 --> 0:16:20.520
<v Speaker 12>aren't meeting. They've got their point people talking, and McCarthy

0:16:20.520 --> 0:16:23.680
<v Speaker 12>said he may call the President on the phone if necessary.

0:16:24.320 --> 0:16:27.880
<v Speaker 12>So it's not even rounds of negotiations. It's that we're

0:16:27.880 --> 0:16:30.760
<v Speaker 12>all sort of waiting on news of a deal at

0:16:30.800 --> 0:16:34.040
<v Speaker 12>almost any moment, probably not the early morning, but yes,

0:16:34.280 --> 0:16:37.840
<v Speaker 12>they are that close. It seems that it could come

0:16:38.760 --> 0:16:41.640
<v Speaker 12>in the next round, or even before a major meeting.

0:16:43.160 --> 0:16:46.200
<v Speaker 2>This is Bloomberg Daybreak Today, your morning brief on the

0:16:46.240 --> 0:16:49.720
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