WEBVTT - Zelenskiy's Plea Falls Flat; Will Powell Signal Rate Cuts?

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<v Speaker 1>Good morning.

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<v Speaker 2>I'm Nathan Hager and I'm Karen Moscow. Here are the

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<v Speaker 2>stories we're following today.

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<v Speaker 3>We begin with the fight for Ukraine funding in Washington.

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<v Speaker 3>Ukraine's President Vladimir Zelenski was in the nation's capital yesterday

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<v Speaker 3>pleading with lawmakers to approve sixty one billion dollars in

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<v Speaker 3>aid for his war effort against Russia, but he left

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<v Speaker 3>with no clear commitment. President Zelenski says any delays in

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<v Speaker 3>extra funding benefit Putin and threatened the rest of the world.

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<v Speaker 4>And this moto resonates not only in our country, not

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<v Speaker 4>only in our hearts, not only in Ukraine, but also

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<v Speaker 4>in Poland and Baltic States, Moldova and others. When freedom

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<v Speaker 4>is strong in one country, it is strong everywhere.

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<v Speaker 3>President Zelenski spoke alongside President Biden, who vowed the US

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<v Speaker 3>will come through to stop Vladimir Putin.

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<v Speaker 5>Today Ukraine's freedom is on the line. But if we

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<v Speaker 5>don't stop Putin andlling danger the freedom of everyone almost everywhere,

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<v Speaker 5>pun will keeping and would be aggressors everywhere will be

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<v Speaker 5>emboldened to try to take what they can by force.

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<v Speaker 3>The President Biden says Congress must pass supplemental funding for Ukraine,

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<v Speaker 3>but that support is stalled. Congressional Republicans are demanding support

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<v Speaker 3>for border security as part of any deal. Meanwhile, a

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<v Speaker 3>Russian missile attack on Ukraine's capital, Kiev this morning has

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<v Speaker 3>left dozens injured.

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<v Speaker 2>Well, Nathan, we're also closely following the ongoing war between

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<v Speaker 2>Israel and Hamas, and we're seeing a divide on that front.

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<v Speaker 2>There is a split in thinking between the US and Israel,

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<v Speaker 2>and it's made its way into public view and Bloomberg's

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<v Speaker 2>and Baxter joins us with that story.

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<v Speaker 6>President Biden very openly saying that Prime Minister Netanya, who

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<v Speaker 6>has to change our risk losing international support. He's referring

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<v Speaker 6>to two things. First that after the war, Israel must

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<v Speaker 6>be thinking about accepting the Palestinian authority and second, in

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<v Speaker 6>the way in which the war is currently prosecuted.

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<v Speaker 5>Attempting to do everything possible to prevent innocent palace to

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<v Speaker 5>the incidents from being being hurt murdered, kil.

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<v Speaker 6>Lost that Yahoo in response, says he will not accept

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<v Speaker 6>Palo standing authority rule. Meanwhile, the UN General Assembly has

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<v Speaker 6>voted a call for US cease fire at Baxter Bloomberg Radio.

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<v Speaker 3>Okay and thank you. Meanwhile, House Republicans plan to vote

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<v Speaker 3>today on formalizing their ongoing impeachment inquiry into President Biden.

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<v Speaker 3>The move will force lawmakers to take a public position

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<v Speaker 3>on the investigations. Speaker Mike Johnson says formal approval will

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<v Speaker 3>help him enforce subpoenas for the House committees that are

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<v Speaker 3>investigating Biden family businesses.

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<v Speaker 2>Well. Turning to the economy, now, Nathan, all eyes are

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<v Speaker 2>on inflation and the Fed. Today we get the Producer

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<v Speaker 2>Price Index at eight thirty Wall Street time. Then this

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<v Speaker 2>afternoon we hear from Fed Chair j Powell after the

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<v Speaker 2>Federal Reserve makes its final interest rate decision of twenty

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<v Speaker 2>twenty three. Dana Peterson, chief economist at the Conference Board,

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<v Speaker 2>thinks the Fed's done hiking rates, but may only cut

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<v Speaker 2>rates a couple times next year.

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<v Speaker 7>We think anywhere from fifty two hundred basis points makes sense,

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<v Speaker 7>especially if inflation, according to the SEP, doesn't get beyond

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<v Speaker 7>two percent before the end of next year.

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<v Speaker 2>The Conference Boards Dana Peterson thinks the Federal Reserve will

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<v Speaker 2>reach its goal of two percent inflation, it can't cut

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<v Speaker 2>rates too much in twenty twenty four and follow Bloomberg

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<v Speaker 2>all day for coverage of the FED decision. Live coverage

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<v Speaker 2>begins ahead of J. Powell's or marked with a special

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<v Speaker 2>edition of Bloomberg Surveillance at one thirty Wall Street time

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<v Speaker 2>on Bloomberg Radio and Television.

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<v Speaker 3>In Company News this morning, Karen elon Musk's X, the

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<v Speaker 3>social network formerly known as Twitter, is set to bring

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<v Speaker 3>in roughly two and a half billion dollars in ad

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<v Speaker 3>revenue in twenty twenty three. Bloomberg Tech reporter Kurt Wagner

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<v Speaker 3>says this is a significant slump from prior years. He

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<v Speaker 3>thinks Musk's personal tweets are scaring off advertisers.

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<v Speaker 8>Musk seems to not really be aware that his own

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<v Speaker 8>behavior is having this dramatic impact, or if he is,

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<v Speaker 8>he just simply doesn't care. But I think that's really

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<v Speaker 8>the issue, more than anything, is that he's not really

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<v Speaker 8>giving advertisers a good enough reason to come back.

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<v Speaker 3>Bloomberg's Kurt Wagner says AD dollars account for seventy to

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<v Speaker 3>seventy five percent of excess total revenue.

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<v Speaker 2>Elsewhere in tech, Nathan Netflix yesterday released global midyear viewer

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<v Speaker 2>data for every title on its service. It's the first

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<v Speaker 2>of what the streaming Giants said will be regular reports

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<v Speaker 2>as it looks to increased disclosure of audience and data.

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<v Speaker 2>The Night Agent took the number one spot, followed by

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<v Speaker 2>Ginny and Georgia and The Glory.

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<v Speaker 3>Turning overseas to Dubai. Karen cop twenty eight climate talks

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<v Speaker 3>have ended in a deal that's seeing a commitment to

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<v Speaker 3>transition away from all fossil fuels for the first time,

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<v Speaker 3>the president of this year's summit broker to compromise with

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<v Speaker 3>the US and European Union, agreeing to dramatically curb fossil

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<v Speaker 3>fuel use while bringing Saudi Arabia and other oil producers

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<v Speaker 3>on board. This outcome breaks new ground. No previous COP

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<v Speaker 3>text has mentioned fully moving away from oil and gas.

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<v Speaker 2>And Nathan, we also have economic news across the globe

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<v Speaker 2>this morning. In the UK, GDP figures shrank more than expected.

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<v Speaker 2>Bloombergs U and Pods joins US live from London with

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<v Speaker 2>the Good Morning Ewan.

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<v Speaker 9>Good Morning Kardon, Nathan. UK GDP shrank zero point three

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<v Speaker 9>percent in October, following a gain of zero point two

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<v Speaker 9>percent in the previous month. The drop was the first

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<v Speaker 9>since July and worse than economists forecasts. It marks a

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<v Speaker 9>sharp reversal from slightly better than expected figures for much

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<v Speaker 9>of this year, and ads to the impression that Britain

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<v Speaker 9>is stuck in a long running period of stagnation. The

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<v Speaker 9>Bank of England makes its policy decision tomorrow. Traders have

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<v Speaker 9>been ramping up bets for rate cuts next year. In London,

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<v Speaker 9>I'm you in pots Bloomberg Radio, Are you and thank

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<v Speaker 9>you well?

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<v Speaker 2>Elsewhere overseas, Argentina has devalued the peso by fifty four percent.

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<v Speaker 2>In the country's economy minister announced massive public spending cuts.

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<v Speaker 2>Then moves are part of new President Javier Malay's shock

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<v Speaker 2>therapy program for the country's economy, which is battling an

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<v Speaker 2>inflation rate north of one hundred and forty percent. And

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<v Speaker 2>it's time to over look at some of the other

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<v Speaker 2>stories making news around the world. And for that we're

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<v Speaker 2>joined by Bloomberg's John Tucker, John Good Morning.

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<v Speaker 10>Six weeks before the state's pivotal first in the Nation primary,

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<v Speaker 10>New Hampshire Governor Chris Snuno has endorsed Republican presidential candidate

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<v Speaker 10>Nikki Haley. He's message for GOP front runner Donald Trump,

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<v Speaker 10>thank you for your service. We're moving on Snuno's backing

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<v Speaker 10>of Haley comes a month after Iowa Governor Kim Reynolds

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<v Speaker 10>endorsed Ron DeSantis for president ahead of that states first

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<v Speaker 10>in the nation caucuses. Haley on Tuesday kicked off a

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<v Speaker 10>three day campaign swing through New Hampshire. New York's highest

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<v Speaker 10>court has ordered the state to redraw its congressional map.

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<v Speaker 10>This delivers a ruling that offers Democrats a new weapon

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<v Speaker 10>to rest control of the House from Republicans next year.

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<v Speaker 10>The decision could have far reaching implications in reshaping the House.

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<v Speaker 10>New York Democrats widely expected to use the opening to

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<v Speaker 10>try to shift two to six Republican held swing districts

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<v Speaker 10>the President Biden won from Long Island to Syracuse. Kroger

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<v Speaker 10>is ordering thousands of workers back to the office for

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<v Speaker 10>the majority of the work week starting early next year.

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<v Speaker 10>That story in this report from Bloomberg's Charlie Penllett.

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<v Speaker 11>The Cincinnati based company is the largest American operator of

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<v Speaker 11>traditional supermarkets, and it has informed employees with the option

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<v Speaker 11>of working remotely that beginning February fifth, they have to

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<v Speaker 11>be present three to four days a week. That is

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<v Speaker 11>an increase from the previous guidance of two days a

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<v Speaker 11>week from June of twenty twenty one. The mandate will

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<v Speaker 11>effect about fifty eight hundred employees in and around Cincinnati,

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<v Speaker 11>as well as in Charlotte, North Carolina, Portland, Oregon, San Jose, California,

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<v Speaker 11>Boca Raton, Florida, and Chicago. In New York Charlie Pellett

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<v Speaker 11>Bloomberg Radio.

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<v Speaker 10>The University of Pennsylvania appointed the dean of its medical

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<v Speaker 10>school as the interim president to replace Liz McGill, who

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<v Speaker 10>resigned after an opera over anti semitism on campus. Jay

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<v Speaker 10>Larry Jamison will lead the Ivy League school, effected immediately

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<v Speaker 10>into a new president is named McGill and Bord chair

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<v Speaker 10>Scott Bach resigned December ninth after coming under intense pressure

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<v Speaker 10>from alumni, donors, and lawmakers. Global news twenty four hours

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<v Speaker 10>a day and whenever you want it with Bloomberg News. Now.

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<v Speaker 10>I'm John Tucker, and this is Bloomberg Karen.

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<v Speaker 2>All right, John, thank you well. We do bring you

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<v Speaker 2>news throughout the day right here on Bloomberg Radio. But

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<v Speaker 2>now you can get the latest news on demand, and

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<v Speaker 2>that means whenever you wantd it. Just like John said,

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<v Speaker 2>you can subscribe to Bloomberg News Now. It's not easy,

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<v Speaker 2>and you get the latest headlines of a click of

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<v Speaker 2>a button. You can get informed right on your schedule.

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<v Speaker 2>That means you can listen and subscribe to Bloomberg News

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<v Speaker 2>Now on the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify,

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<v Speaker 2>and anywhere else you get your podcasts. And it's time

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<v Speaker 2>now for the Bloomberg Sports Update with John stash Hour.

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<v Speaker 2>And we're going to go to John right now. John

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<v Speaker 2>stash Hour, Here.

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<v Speaker 10>You go, Karen.

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<v Speaker 12>It is still early in the NBA season with already

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<v Speaker 12>the Warrior Draymond Green has been ejected from a game

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<v Speaker 12>three different times. Happens last night in Phoenix when Draymond

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<v Speaker 12>hit the Sun's use of Nurcic in the head. Draymond

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<v Speaker 12>did apologize after the game, but said the hit was unintentional.

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<v Speaker 12>The Sons beat the Warriors one nineteen one sixteen. Devin

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<v Speaker 12>Brokers scored thirty two. Bradley Beeal back in the Phoenix lineup.

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<v Speaker 12>He's been out the last nineteen games they played last

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<v Speaker 12>night without Kevin Durant. Celtics now eleven I at home.

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<v Speaker 12>Jayson Tatum scored twenty five and a one twenty one

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<v Speaker 12>thirteen win over Cleveland. Denver won at Chicago won fourteen

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<v Speaker 12>one oh six, despite the Nuggets star in Nikola joki

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<v Speaker 12>Is getting ejected late second quarter. The Stars were out

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<v Speaker 12>in Dallas. Lebron James scored thirty three, but so did

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<v Speaker 12>Luka Don says he had seventeen assistantspite playing with a

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<v Speaker 12>bad back. The MAVs topped the Lakers by two. The

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<v Speaker 12>Clippers beat the Kings by twenty. Duke at eighty nine

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<v Speaker 12>sixty eight win over Hastra in college hoops. The NFL

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<v Speaker 12>game tomorrow is the Chargers and the Raiders, and the

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<v Speaker 12>Chargers quarterback will be Easton Stick, a relative unknown out

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<v Speaker 12>of North Dakota State. Justin Herbert has a broken finger.

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<v Speaker 12>He's happy surgery, he's done for the year, and a

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<v Speaker 12>quarterback change in Minnesota or Joshua Dobbs had done well

0:10:05.840 --> 0:10:09.000
<v Speaker 12>since the Vikings acquired him following the season ending loss

0:10:09.040 --> 0:10:12.320
<v Speaker 12>to Kirk Cousins, but Dobbs has struggled lately. Nick Mullins

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<v Speaker 12>will be the starter for the Vikings Saturday against Cincinnati.

0:10:15.320 --> 0:10:18.439
<v Speaker 12>The Giants have signed a Korean outfielder, Young Hu Lead

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<v Speaker 12>of a six year contract. John Stashedwer Bloomberg Sports.

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<v Speaker 13>From coast to coast, from New York to San Francisco,

0:10:28.360 --> 0:10:32.440
<v Speaker 13>Boston to Washington, d C. Nationwide on Syrias Exam, the

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<v Speaker 13>Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.

0:10:38.360 --> 0:10:41.520
<v Speaker 3>Good morning, I'm Nathan Hager. Geopolitics has turned a lot

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<v Speaker 3>more complicated for both the wars in Ukraine and the

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<v Speaker 3>Middle East. Ukrainian President Vladimir Zelenski has moved on to

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<v Speaker 3>Scandinavia this morning, has bid to drummer more support for

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<v Speaker 3>his country's fight against Russia from Washington, d C has

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<v Speaker 3>come up mostly empty handed, and the question of what

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<v Speaker 3>comes after Israel's war with Hamas in Gaza has opened

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<v Speaker 3>up a rift between President Biden and Israeli Prime Minister

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<v Speaker 3>Benjamin Natan Yahoo that is turning more and more public.

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<v Speaker 3>All issues we're going to discuss now with Rosalind Mathison,

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<v Speaker 3>Bloomberg Goose Director for Europe, the Middle East and Africa.

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<v Speaker 3>Good to speak with you, Roz this morning. I understand

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<v Speaker 3>from warsaw so the war in Ukraine is certainly much

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<v Speaker 3>of a focus for you today. I mean, it's really

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<v Speaker 3>interesting to think about how much has changed in just

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<v Speaker 3>a year when Zelenski got this rock star reception in Washington,

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<v Speaker 3>D C. This week, not so much.

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<v Speaker 14>Well, that's right, it was actually for anything. It just

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<v Speaker 14>reinforced the struggles that are going on for Ukraine to

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<v Speaker 14>get further commitments of aid, be it financial aid or

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<v Speaker 14>military aid. I mean the previous trips he's done to

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<v Speaker 14>the US, as you said, almost treated like a rock

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<v Speaker 14>star and other parts of the world, addressing parliaments, RAUCUS

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<v Speaker 14>crowds and so on. And now you know more and

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<v Speaker 14>more that the conversation is turning tricky. The red carpet

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<v Speaker 14>is thinning out. The US President is clearly trying very

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<v Speaker 14>hard to get something done for Ukraine before the end

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<v Speaker 14>of the year in terms of funding and appearing together

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<v Speaker 14>as you said yesterday and in Washington in that regard,

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<v Speaker 14>but it only again highlighted that Congress is pretty much

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<v Speaker 14>stuck and saying no, we're very unlikely to produce this

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<v Speaker 14>aid before the end of the year. And then, of

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<v Speaker 14>course you get further into the US election cycle and

0:12:27.920 --> 0:12:32.520
<v Speaker 14>becomes even more complicated. And over in Brussels, EU leaders

0:12:32.520 --> 0:12:36.600
<v Speaker 14>are meeting from tomorrow. They're gathering later today to also

0:12:36.720 --> 0:12:40.120
<v Speaker 14>discuss whether they can unlock further aid for Ukraine, and

0:12:40.120 --> 0:12:43.000
<v Speaker 14>that's very much bogged down because of objections from countries

0:12:43.480 --> 0:12:45.920
<v Speaker 14>including Hungary. So what you've got is a picture where

0:12:46.000 --> 0:12:50.120
<v Speaker 14>Ukraine's going into another winter, the war is soon going

0:12:50.160 --> 0:12:53.120
<v Speaker 14>to enter its third year, and nothing really is moving

0:12:53.160 --> 0:12:54.920
<v Speaker 14>for Ukraine on any of these fronts.

0:12:55.200 --> 0:12:57.800
<v Speaker 3>Well, what could it mean for Ukraine if it's unable

0:12:57.840 --> 0:13:02.320
<v Speaker 3>to unlock this aid from the US and from Europe,

0:13:02.360 --> 0:13:04.640
<v Speaker 3>What could it mean for conditions on the ground. I mean,

0:13:04.640 --> 0:13:07.360
<v Speaker 3>we've seen this work pretty much move into a stalemate

0:13:07.360 --> 0:13:07.920
<v Speaker 3>at this point.

0:13:09.320 --> 0:13:11.360
<v Speaker 14>Well, that's right, and of course there's now talk of

0:13:11.400 --> 0:13:14.280
<v Speaker 14>what can there be a different spring offensive in the

0:13:14.320 --> 0:13:17.320
<v Speaker 14>next spring, and for that they would need those weapons.

0:13:17.320 --> 0:13:21.000
<v Speaker 14>But certainly the fighting is moving very slowly on the ground.

0:13:21.120 --> 0:13:24.240
<v Speaker 14>Russia is not making masses of territory, but they're certainly

0:13:24.240 --> 0:13:26.960
<v Speaker 14>not losing a lot of it either, and as time

0:13:27.040 --> 0:13:30.600
<v Speaker 14>goes on it becomes harder and harder harder to dislodge them.

0:13:30.600 --> 0:13:33.240
<v Speaker 14>We've seen fresh missile attacks overnight on some of the

0:13:33.320 --> 0:13:36.120
<v Speaker 14>key cities as well, and going into winter, the sense

0:13:36.160 --> 0:13:40.360
<v Speaker 14>that Russia is going to target again things like energy infrastructure.

0:13:40.400 --> 0:13:43.880
<v Speaker 14>The idea is just to make Ukrainians as miserable as

0:13:43.920 --> 0:13:45.880
<v Speaker 14>possible through the winter, so you're going to make them

0:13:45.920 --> 0:13:48.920
<v Speaker 14>feel very, very cold for a start, and so there's

0:13:48.920 --> 0:13:51.840
<v Speaker 14>a sense of fatigue they're creeping in in some quarters

0:13:52.160 --> 0:13:55.520
<v Speaker 14>in Ukraine. And that opens the very thorny question that

0:13:55.600 --> 0:13:58.920
<v Speaker 14>people are asking and will be asked, no doubt, even

0:13:58.960 --> 0:14:01.720
<v Speaker 14>more so in political halls next year, and is that

0:14:02.040 --> 0:14:03.679
<v Speaker 14>at some point does there need to be a move

0:14:03.760 --> 0:14:04.840
<v Speaker 14>towards the negotiation.

0:14:05.360 --> 0:14:06.840
<v Speaker 3>I don't know if we can call it a question

0:14:06.880 --> 0:14:09.560
<v Speaker 3>of fatigue. When it comes to the war between Israel

0:14:09.600 --> 0:14:11.720
<v Speaker 3>and Hamas in Gaza. We're only a little more than

0:14:11.760 --> 0:14:14.200
<v Speaker 3>two months into it, but we are seeing that situation

0:14:14.280 --> 0:14:16.680
<v Speaker 3>turn a lot more complicated as well when it comes

0:14:16.760 --> 0:14:19.560
<v Speaker 3>to how the Gaza strip could be administered if Israel

0:14:19.640 --> 0:14:23.040
<v Speaker 3>succeeds in defeating Hamas well.

0:14:23.040 --> 0:14:23.480
<v Speaker 9>That's right.

0:14:23.600 --> 0:14:26.480
<v Speaker 14>You saw really the most strident comments I think so

0:14:26.640 --> 0:14:30.400
<v Speaker 14>far from the US President yesterday directed at the Israeli

0:14:30.440 --> 0:14:33.400
<v Speaker 14>Prime Minister Benjamin Netanyahu. And certainly the US has been

0:14:33.440 --> 0:14:38.120
<v Speaker 14>a strong ally of Israel for years, and obviously after

0:14:38.200 --> 0:14:41.560
<v Speaker 14>the Hammas attack or October the seventh, but really for

0:14:41.600 --> 0:14:46.920
<v Speaker 14>the first time Joe Biden publicly castigating the Israeli Prime Minister,

0:14:47.240 --> 0:14:49.400
<v Speaker 14>you know, saying that things are not going in the

0:14:49.480 --> 0:14:52.840
<v Speaker 14>right direction, that they need to think about their plans,

0:14:52.920 --> 0:14:56.520
<v Speaker 14>especially in the aftermath of this war, and that was

0:14:56.600 --> 0:14:59.880
<v Speaker 14>highly unusual for him to do so. So certainly not

0:15:00.080 --> 0:15:02.720
<v Speaker 14>you know, the US is not calling overtly for a

0:15:02.800 --> 0:15:06.080
<v Speaker 14>sea spy, that's been something they've very much danced around,

0:15:06.480 --> 0:15:11.000
<v Speaker 14>but expressing concern about the situation inside Gaza and certainly

0:15:11.360 --> 0:15:14.600
<v Speaker 14>for the unresolved questions of what happens after. I mean,

0:15:14.760 --> 0:15:17.600
<v Speaker 14>Israel just won't agree, they say, to a two state

0:15:17.680 --> 0:15:22.440
<v Speaker 14>solution essentially involving the West Bank and Gaza, where some

0:15:22.480 --> 0:15:26.240
<v Speaker 14>other countries include in the US, are potentially looking at

0:15:26.240 --> 0:15:30.479
<v Speaker 14>something would involve the Palestinian authority in both places, essentially

0:15:30.960 --> 0:15:34.239
<v Speaker 14>the two state solution. So certainly a lot of unknowns

0:15:34.280 --> 0:15:37.400
<v Speaker 14>in the aftermath of this conflict, but the US clearly

0:15:37.440 --> 0:15:39.480
<v Speaker 14>already starting to run out of patients on it.

0:15:41.480 --> 0:15:44.520
<v Speaker 1>This is Bloomberg Daybreak Today, your morning brief on the

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