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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 this morning with breaking news from the Vatican.

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Speaker 2: Pope Francis has died. The Vatican's Cardinal Kevin Farrell says

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Speaker 2: the leader of the Roman Catholic Church passed away this

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Speaker 2: morning after Easter, a day after what would turn out

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Speaker 2: to be his final public appearance at Saint Peter's Basilica.

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Speaker 2: Pope Francis was the first pontiff from the Americas, the

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Speaker 2: first non European since the eighth century, the first Jesuit

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Speaker 2: to lead the Catholic Church, and from the beginning he

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Speaker 2: tried to embody the simplicity of his namesake, Saint Francis of.

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Speaker 4: A cisi, I would like a church for the poor.

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Speaker 2: Pope Francis spoke often on social issues. On gay priests,

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Speaker 2: he once said, who am I to judge? And he

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Speaker 2: once warned President Trump the mass deportations would end and badly.

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Speaker 2: Francis also tried to lift the veil on Vatican finances

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Speaker 2: and to atone for clergy sexual abuse. He called on

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Speaker 2: global leaders to end poverty through a fairer distribution of wealth.

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Speaker 5: We are also challenged to reflect on oh, well, we

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Speaker 5: are tists making our values to the next generation.

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Speaker 2: Paul Francis had been in the hospital for more than

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Speaker 2: a month back in February with bronchitis that progressed into pneumonia.

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Speaker 2: He had just met with Vice President j. D. Vance

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Speaker 2: yesterday at the Vatican. Paul Francis was eighty eight years old.

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Speaker 3: All right, Nathan, Well, we're going to turn back to

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Speaker 3: the US now and looking at politics. The US Defense

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Speaker 3: secretary once again facing criticism after sharing military details and

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Speaker 3: another signal chat and Bloomberg Scott Carr joins us with

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Speaker 3: more from Washington furs Hotel.

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Speaker 6: The New York Times, US Defense Secretary Pete Hegseth sent

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Speaker 6: military strike information in a private encrypted signal group chat

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Speaker 6: for a second time. Reports say that chat was created

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Speaker 6: by Hegseth and included his wife, brother, and personal lawyer.

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Speaker 6: Hegseth's personal lawyer man, his brother work for the Pentagon.

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Speaker 6: His wife is not a Defense Department official. The Times

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Speaker 6: reports the content included sensitive information about forthcoming strikes in

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Speaker 6: Yemen on March fifteenth, similar to the attack plans that

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Speaker 6: Hegseth shared in another reported signal chat where he included

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Speaker 6: the editor of The Atlantic. This report after a political

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Speaker 6: op ed from Hegseth's former spokesman, who says the Defense

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Speaker 6: Department has been overwhelmed by dysfunction and turnover during heg

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Speaker 6: Seth's tenure leading the Pentagon in Washington. I'm Scott Carr,

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Speaker 6: Bloomberg Radio.

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Speaker 2: Okay, Scott, thank you. Also weearing Washington. A draft executive

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Speaker 2: order is circulating among US diplomats that proposes a radical

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Speaker 2: reduction to and restructuring of the State Department. A copy

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Speaker 2: of the document seen by Bloomberg News shows that the changes,

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Speaker 2: if implemented, would be one of the biggest reorganizations of

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Speaker 2: the State Department since its founding in seventeen eighty nine.

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Speaker 2: The order would eliminate dozens of positions in the departments,

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Speaker 2: including those dealing with climate refugees, democracy, and Africa, as

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Speaker 2: well as the Bureau of International Organizations, which LIAS is

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Speaker 2: with the United Nations. A Secretary of State, Marco Rubio,

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Speaker 2: is calling the reported overhaul fake news. He said that

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Speaker 2: in a post on Acts.

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Speaker 4: Well Elsewhere in Washington.

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Speaker 3: Nathan Senator Chris Van Holland is defending the due process

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Speaker 3: rights of a migrant who was mistakenly deported from his

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Speaker 3: state to a notorious prison in his home country of

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Speaker 3: El Salvador. The Maryland Democrat appeared on all four Sunday

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Speaker 3: political shows heard on Bloomberg Radio after meeting with Kilmar

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Speaker 3: Abrego Garcia, including CBS, has Faced the Nation.

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Speaker 7: The Supreme Court of the United States and the other

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Speaker 7: courts have said that the administration has to facilitate his return.

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Speaker 7: As of right now, they are defiance of that court order.

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Speaker 7: They're not doing anything.

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Speaker 3: But White House Border Czar Tom Homan says the administration

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Speaker 3: is following the law, even after the Supreme Court blogged

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Speaker 3: the government from expelling migrants under the Alien Enemies Act,

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Speaker 3: and he was on EBA issues this week.

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Speaker 8: We have followed the constitution, we have followed law.

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Speaker 9: I am confident that everything we've done has followed laws

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Speaker 9: within the constitutional contracts.

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Speaker 3: Absolutely and again this week and Face the Nation can

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Speaker 3: be heard every Sunday on Bloomberg Radio.

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Speaker 2: Well, Karen, let's turn to the latest in the global

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Speaker 2: trade war. China is warning countries not to make deals

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Speaker 2: with the US that could harm Beijing's interests, and it's

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Speaker 2: threatening reciprocal countermeasures if they do. We get more from

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Speaker 2: Bloomberg's Menmnlo in Hong Kong.

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Speaker 10: This is clearly a warning from China that it's going

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Speaker 10: to watch these trade negotiations very closely. Anybody that under

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Speaker 10: China interest is going to face retaliation from China, and

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Speaker 10: of course we are watching very closely. The first to

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Speaker 10: go is Japan heading into that second round of trade

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Speaker 10: negotiations with Trump. It comes up the Presidency just finished

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Speaker 10: his Southeast Asian trip with a consistent message calling on

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Speaker 10: all of these countries to jointly oppose US.

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Speaker 2: Hegemony, Bloomberg's Minmnlo says, in an effort to counter some

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Speaker 2: of the US's recent moves, China has stepped up diplomatic

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Speaker 2: outreach to Southeast Asia and Europe well.

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Speaker 4: Nathan.

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Speaker 3: Vice President JD. Vans is in New Delhi, kicking off

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Speaker 3: a four day visit to India. The trip comes as

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Speaker 3: the US is threatening to increase that ten percent tariffs

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Speaker 3: on Indian exports to twenty six percent if no deal

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Speaker 3: is reached by the end of the ninety day pause

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Speaker 3: that Trump put in place earlier this month.

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Speaker 2: Trained Markets now Karen futures are lowered. This morning, the

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Speaker 2: dollars dropped to its lowest level since January of twenty

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Speaker 2: twenty four. The retreat comes after President Trump's criticism of

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Speaker 2: FED shair Jay Powell raised concerns over central bank independence.

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Speaker 2: Last week. The President posted on social media that Powell's

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Speaker 2: quote termination cannot come fast enough. Here's Chicago Fed President

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Speaker 2: Austin Goulsby.

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Speaker 11: There's virtual unanimity among economists that monetary independence from political interference,

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Speaker 11: that the FED or any central bank be able to

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Speaker 11: do the job that it needs to do, is really important.

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Speaker 11: And they came to that not as a theory, but

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Speaker 11: just by looking around the world at places.

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Speaker 4: Where they don't have monetary independence.

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Speaker 11: And the fact is the inflation rate is higher, growth

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Speaker 11: is slower, the job market is worse.

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Speaker 2: I was Chicago Fed President Austin Goldsby speaking on CBS's face.

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Speaker 2: The nation and gold is trading at a record this morning.

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Speaker 2: Right now, the shiny yellow medal is at thirty four

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Speaker 2: hundred and four dollars.

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Speaker 3: Announce Lonny fans and high profile CEOs sold big chunks

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Speaker 3: of company stock just before President Trump's tariff headlines started

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Speaker 3: really roiling financial markets in early April, Bloomber's and East

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Speaker 3: Peallygreeney has more meta platforms.

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Speaker 4: Mark Zuckerberg, Oracle softwra Cats, and JP Morgan's Jamie Diamond

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Speaker 4: among the insider sellers last quarter. Washington Service, which tracks

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Speaker 4: insider buying and selling, says Zuckerberg sold seven hundred and

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Speaker 4: thirty three million in meta shares last quarter through his

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Speaker 4: Chen Zuckerberg initiative. In January and February, when metas stock

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Speaker 4: was still trading above six hundred bucks a share and

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Speaker 4: close to its Valentine's Day peak, Cats unloaded seven hundred

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Speaker 4: five million in shares before Oracle stock fill more than

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Speaker 4: thirty percent, and Jamie Diamond cashed out of about two

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Speaker 4: hundred and thirty four million dollars in his company shares.

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Speaker 4: And the sales come even as insider selling drop sharply

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Speaker 4: in the quarter from a year ago. Denise Pellgrityloomberg Radio.

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Speaker 2: All right, Denise, thank you, and runners are gearing up

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Speaker 2: this morning for the one hundred and twenty ninth Boston Marathon.

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Speaker 2: The world's oldest marathon, kicks off this morning on the

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Speaker 2: two hundred and fiftieth Patriots Day in Boston. This annual

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Speaker 2: race is one of six World Marathon Majors. The twenty

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Speaker 2: six point two mile race stretches from Hopkinton, mass To Boston.

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Speaker 3: And it's time now for a look at some of

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Speaker 3: the other stories making news in New York and around

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Speaker 3: the world. And for that we're joined by Bloomberg's Michael Barr. Michael,

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Speaker 3: Good Morning, Good Morning Karen.

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Speaker 8: The Trump administration and New York a clashing over the

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Speaker 8: city's controversial congestion pricing program. It's being closely watched by

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Speaker 8: other cities across the country. The federal government issued an

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Speaker 8: Easter Sunday death line to end the nine dollars toll

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Speaker 8: being placed on drivers entering the busiest part of Manhattan.

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Speaker 8: The governor pushing back, saying traffic is down, business is up,

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Speaker 8: and the cameras are staying on. However, President Trump is

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Speaker 8: vowed to kill the program. The dangerous weather event slamming

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Speaker 8: the Heartland during a busy holiday weekend. More than a

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Speaker 8: dozen were reported of tornadoes and flooding in northern Texas

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Speaker 8: and southern Oklahoma. In the last twenty four hours. Three

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Speaker 8: people were killed in Oklahoma. The violent weather is bringing

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Speaker 8: about a sense of deja vous for folks in the

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Speaker 8: town of Ada. That's where a tornado touchdown two months ago.

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Speaker 8: This man runs a hotel and connecting donut shop, which

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Speaker 8: took a hit, this time around a.

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Speaker 12: Person who'd been hit.

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Speaker 3: It never been me?

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Speaker 8: Did happened to be me?

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Speaker 10: This?

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Speaker 4: So it's hot.

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Speaker 8: About thirty guests had to be relocated today. In El Paso,

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Speaker 8: the gunman who killed twenty three people in a racist

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Speaker 8: twenty nineteen attack targeting Hispanic shoppers at a wall mart

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Speaker 8: is expected to plead guilty to capital murder in state

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Speaker 8: district court. The plea allows the gunman to avoid the

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Speaker 8: death penalty. Finally, the head of the EPA defended the

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Speaker 8: freezing of billions in federal environmentally climate grants. EPA administrator

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Speaker 8: Lee Zelden says he has zero tolerance for any waste

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Speaker 8: and abuse.

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Speaker 2: Had the alarm raised.

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Speaker 12: When Biden EPA political pointing in December, was on video

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Speaker 12: saying that they were tossing gold bars off the Titanic,

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Speaker 12: rushing to get billions of dollars out the door before

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Speaker 12: Inauguration Day.

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Speaker 8: Zelden spoke on CBS's Face the nation heard Sundays on

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Speaker 8: Bloomberg Global News twenty four hours a day and whenever

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Speaker 8: you want it with the Bloomberg News now Michael Barr,

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Speaker 8: and this is Bloomberg Karen.

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Speaker 3: All right, Michael Barr, thank you. Time now for the

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Speaker 3: Bloomberg Sports Update. Here's John Staneshawer, John, good morning.

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Speaker 13: Good morning, darn match free off to a terrific starts.

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Speaker 13: The Yankee career is four and oh Is era is

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Speaker 13: one point four to two at Sampa Bay. Took a

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Speaker 13: no hitter to the eighth inning, then he didn't an

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Speaker 13: unusual end to a no hitter. Bit here's that what

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Speaker 13: sounded on the Yes Network.

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Speaker 9: The official scorer here Hot Steimer to field and man

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Speaker 9: by the name of Bill Matthews has changed the Simpson

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Speaker 9: e three into a hit while the Yankees are in

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Speaker 9: the dugout. Just unfathomable either you call it when it happens.

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Speaker 9: You don't wait three innies to go by. It's it's

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Speaker 9: just unbelievable.

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Speaker 13: In the sixth inning and the race speedster Chandler Simpson

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Speaker 13: in a ground ball the first phase Rulden error on

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Speaker 13: Paul Goldsmid. Replays indicated Simpson would have gotten a hit

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Speaker 13: even had the ground or not been booted as it

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Speaker 13: turned out to raise Jake Magnum single the lead off

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Speaker 13: the eighth inning. Yankees hit three home runs. They blanked

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Speaker 13: the race four to nothing. The Mets beat the Cardinals

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Speaker 13: seven to four to finish a four game Sway. Francisco

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Speaker 13: Lindor lead off home run. He had three hit score

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Speaker 13: three times. The Mets are now nine and one at home.

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Speaker 13: Now they got playoffs. The Devils lost Game one at

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Speaker 13: Carolina four to one. Toronto beat out of a five

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Speaker 13: to two Vegas over Minnesota.

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Speaker 8: Four to twos.

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Speaker 13: The home teams won all three one round team did

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Speaker 13: win in the NBA Golden State ninety five eighty five

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Speaker 13: at Houston. Steph Curry scored thirty one home wins for Boston, Cleveland,

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Speaker 13: and Oklahoma City. The Thunder crushed Memphis by fifty one,

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Speaker 13: the fifth most lopsided game in playoff history. Okay see

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Speaker 13: at one point at a twenty to nothing wrong. The

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Speaker 13: Nicks in Game one had a twenty one nothing run

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Speaker 13: on the fourth Gordon. They look to go up to

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Speaker 13: nothing on Detroit in tonight's Game two at the Garden.

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Speaker 13: John stash Allen Bloomberg Sports.

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Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Serious Exam

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

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

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Speaker 2: Good morning, I'm Nathan Hager, and the word has come

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Speaker 2: from the Vatican this morning. Pulp Francis has died on

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Speaker 2: this day after Easter Sunday. The eighty eight year old

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Speaker 2: Pontiffs being remembered for his calls for a more compassionate

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Speaker 2: Catholic Church and for his focus on reducing poverty, as

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Speaker 2: in this speech to a joint session of Congress nearly

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Speaker 2: a decade ago.

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Speaker 5: It can be fulfilled source of prosperity from the area

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Speaker 5: in which it operates, especially if it is the creation

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Speaker 5: of jobs, and.

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Speaker 2: That was Pope Francis in Washington back in twenty fifteen.

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Speaker 2: This morning, we were joined by Bloomberg News Senior editor

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Speaker 2: Bill Ferries. As the world wakes up this morning, Bill

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Speaker 2: to this news that Pope Francis has passed.

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Speaker 14: Good morning, Good morning, Thanks for having me, Navan.

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Speaker 2: So the Pontiff has, as we say, he has passed away,

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Speaker 2: but he is going to be remembered for bringing a

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Speaker 2: much different dynamic to the Catholic Church, isn't it.

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Speaker 14: Yeah, that's right. I mean, he was first of all

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Speaker 14: he was a historic figure just his naming he was.

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Speaker 14: He's the first pope from the Americas, coming from Argentina.

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Speaker 14: He was the first Jesuit to hold that position, and

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Speaker 14: he became pope following the abdication of Pope Benedict the

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Speaker 14: sixteenth so on all of those really historic nature to

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Speaker 14: his tenure. And I think in contrast to Pope Benedict,

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Speaker 14: he really brought kind of an easy going, joyful approach

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Speaker 14: to the posts that won over a lot of non Catholics.

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Speaker 2: Frankly, is it going to be an impression that is

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Speaker 2: left more permanently? Do you think with the Catholic Church

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Speaker 2: that kind of aspect that he brought a more joyful approach,

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Speaker 2: a more compassionate approach.

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Speaker 14: Well, you know, I think, just like in politics, you have,

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Speaker 14: the politics of the papacy kind of go from one

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Speaker 14: direction to the other. Would be very interesting to see

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Speaker 14: what follows or who follows this pope. There's usually a

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Speaker 14: conclave that would take place to choose the next pope

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Speaker 14: within a two to three week period, and really will

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Speaker 14: that will have some determination on the legacy that this

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Speaker 14: pope is seen as having. Of course, he inherited some

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Speaker 14: of the challenges that every pope in the modern era

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Speaker 14: has inherited, including the dealing with the allegations of sexual

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Speaker 14: abuse against a children. He also inherited finance problems that

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Speaker 14: came with the Vatican Bank, and those are all issues

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Speaker 14: that will his successor will be seen as having to

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Speaker 14: deal with. But in terms of the longer term legacy,

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Speaker 14: I think we're going to need more time to know.

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Speaker 14: He was the pope for twelve years. He did some things,

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Speaker 14: showed a compassion. I think that is kind of typical

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Speaker 14: of the Jesuit order. That we'll have to see whether

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Speaker 14: that's the approach his successor also decides to embrace.

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Speaker 2: So you would have to think that, given the illness

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Speaker 2: that he had suffered over the last several months, and

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Speaker 2: the health issues that he had had throughout much of

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Speaker 2: his papacy, that there has been some groundwork laid for

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Speaker 2: name being a successor. How do you expect that to

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Speaker 2: go in our last thirty seconds or.

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Speaker 14: So, Well, yeah, he's been he's been very ill for months.

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Speaker 14: So I think at least some of the speculation about

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Speaker 14: who might succeed him, where they might come from, what

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Speaker 14: kind of a person might be the next pope has

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Speaker 14: been out there, but I think as we saw, Pope

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Speaker 14: Francis wasn't chosen until the fifth round of voting in

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Speaker 14: twenty thirteen, and a lot of things happened. He did

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Speaker 14: not expect to become pope, so perhaps his successor is

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Speaker 14: also not thinking that he will be chosen.

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