Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I maybe Morris and I'm Karen Moscow. Here are the stories we're following today.
We begin with breaking news in Baltimore and what the city's fire department is calling a dire emergency after one of the city's major bridges was struck by a container ship. Bloomberg Steve Potus has the very latest this morning.
A portion of the Francis Scott Key Bridge collapsed after it was struck by a large vessel. It caught on fire before sinking and caused several vehicles to fall into the Patapsco River. A spokesperson for the Baltimore Fire Department tells the Associated Press that authorities are searching for at least seven people believed to be in the water, and
are calling the collapse a developing mass casualty event. A fire department spokesperson says agencies received nine to one one calls around one thirty am reporting that a vessel traveling outbound from Baltimore struck a column on the bridge. Multiple vehicles were reportedly on the bridge at the time, including one the size of a tractor trailer. The spokesperson added that conditions on the bridge are unstable and unsafe, prompting
emergency responders to operate cautiously. Baltimore's Mayor, Brandon M. Scott posted on x that he is in contact with the fire Department, Maryland's governor, and other officials, and that emergency efforts are underway in Washington. I'm Steve Potisk Bloomberg Radio. All right, Steve, thank you.
We of course I'll bring you the latest developments all morning on the bridge collapse. We now turn to the latest legal news involving Donald Trump. Hey federal judge in New York denied a motion to delay the hush money case against the former president. Judge wanmer Shawn has ordered the trial to begin with jury selection on April fifteenth. Trump says the trial should have been done long ago.
They could have started this when I left office. You could have gone back three years more than that I left office. All of these things could have been started, so we wouldn't be quippling over starting this week or that week, or two days or three days. It wouldn't have mattered. This thing would have been over two years ago.
Trump called the judge's decision to hold the trial next month completely unfair. Because of the timing before the presidential election.
Meanwhile, Trump's business empire was supposed to be in peril. Yesterday Monday was the deadline for Trump to pay a bond of more than a half billion dollars or risks the state of New York seizing his assets. Well Instead, a state appeals court tossed Trump a lifeline, slashing the amount he'd have to post to one hundred and seventy five million, in amount he says he can cover within ten days. The appeals court in Manhattan did not offer any explanation behind that decision.
Wellami, the former president also got some good news on the financial front. Shares of the blank Chet company, merging with Trump's social media startup are surging as it begins trading today. Begin more from Bloomberg's John Tucker.
Donald Trump's social media company, Trump Media and Technology Group, wrapped up a twenty nine month long merger process, meaning shares worth billions of dollars on paper are now officially Trump's. All told, his net worth increased by more than four billion dollars. That means, for the first time ever, Trump has joined the ranks of the world's wealthiest five hundred people.
On the Bloomberg Billionaires Index, with a fortune of six point five billion as it stands now, he can't cash in on his windfall from Trump Media's merger with Digital World acquisition. That's because his shares are locked up for roughly six months. John Tucker, Bloomberg Radio, All.
Right, John, Thanks, and Trump Media and Technology Group will trade under the symbol DJT. It's up twenty percent in early trading.
And while Trump's wealth is rising on paper, he is losing ground. In the latest Bloomberg News Morning Consolet poll on the presidential election, it shows President Biden improving against the former president. Bloomberg's Nancy Llons has more on the findings.
President Biden is in the strongest position yet in the monthly poll, within gaining ground in six of seven key swing states. He's notching significant gains in at least two of them, including Wisconsin, where he now leads former President Trump by one point after trailing by four last month. He's also gaining in Pennsylvania, where the two are tied after Biden was behind by six points in February. The two are also tied in Michigan, but Biden still lags
Trump in four other Crucial states. It's unknown if this is a one time bump after Biden's State of the Union address or the start of a durable change in Washington. Nancy Lyons Bloomberg Radio, all.
Right, Nancy. Thanks. In geopolitical news, the US is explaining why it abstained on the UN Security resolution regarding the war in Gozam, and Bloomberg's and Baxter has that story.
The decision caused Prime Minister Benjamin that and Yahoo to call off sending a delegation to the US to talk. State Department spokes on Matthew Miller says there were things in it that the US agreed with and some that it did not.
The reason we didn't veto it is because there are also things in that resolution that were consistent with our long term position, most importantly that there should be a ceasefire and that there should be a release of hostages, which is what we understood also to be the Government of Israel's position.
Now, Miller says the US position has been consistent and wishes Israel would look at its plan for a hostage release and sees fire at Baxter Bloomberg Radio.
Thank you, ed. One other note to tell you about this morning, The Pentagon says, Defense Secretary Lloyd Austin will meet with Israel's Minister of Defense later today. Austin will discuss ways to address the Hamas threat other than conducting a ground invasion of Rafa.
Well, we turn to the markets now amy and US stock index futures are higher following two consecutive days of losses on Wall Street. There are plenty of reasons for investors to be cautious. We get the Personal Consumption Expenditures price index on Good Friday when markets are closed. FED Chair jer Own Powell is due to speak on the same day. Sam Stovall, the chief investment strategistics CFRA Research, says earnings may be the key for stocks going forward.
The estimates have been coming down slightly, while the PE for the S and P is now trading at a thirty three percent premium to its average over the last twenty years. And to be a cynic, I think that management has done a very good job of managing expectations because last quarter was the fifty seventh time out of the last fifty nine times that actual results exceeded end of quarter estimate.
And CFIRA sam Stovall notes, as we close out the trading quarter. This week, the S and P five hundred is up more than nine percent.
And in company news, a takeover offer has reportedly been made for the bankrupt company we Work, and it comes from a familiar face, Adam Newman. More from Bloomberg's Doug Prisner.
Newman as we Work's former CEO. He's also a company co founder. Five years ago, Newman was ousted by the board and he's been trying to regain control ever since. The Wall Street Journal says Newman recently submitted an offer to buy the company for more than five hundred million dollars. It wasn't immediately clear how Newman would finance the ac acquisition.
The Journal says Newman's lawyer sent a letter to we Works advisors last month saying he was joining with Dan Loebe's hedge fund, Third Point and other investors in exploring a bid. I'm Doug Krisner, Bloomberg Radio.
All right, thank you, Doug.
It's time now for a look at some of the other stories making news in New York and around the world. And for that we're joined by Bloomberg's Michael Barr. Michael, good morning, Good.
Morning, Karen, a new York City Police officer is paid the ultimate price in the line of duty. New York City Mayor Eric Adams announcing at a news conference last night that the officer, Jonathan Dillar, was shot and killed while conducting a vehicle stop in Queen's It.
Is the good guys against the bad guys, and these bad guys are violent. They carry guns in the symbol of our public safety, which is that police uniform.
They have a total disregard for Officer Diller was shot in the tour so just below his proof fest. The suspect was shot by another officer on the scene. The condition of the other suspect remains unclear. A subway rider was killed when he was pushed in front of a Ford train at one hundred and twenty fifth Street in East Harlem. Police say the attack was not provoked. The new startled fellow subway riders.
How do you stop like one person from making like an act right like? That's really difficulty in huge sharing the system like this.
A suspect is in custody, and police say the man appeared to have a history of mental illness. Meanwhile, New York City plans to intensify a crackdown on subway fair beating by sending at least eight hundred police officers specifically to keep watch on turnstiles. Officials say it's the latest in the string of recent moves to address concerns about safety and unruliness in the nation's busiest subway system. Law enforcement officials have rated two properties owned by Sean Diddy Combs.
According to AP, the music moguls homes were searched in Los Angeles and Miami by Federal Homeland Security Investigation agents and other authorities as part of an ongoing sex trafficking investigation. The Supreme Court is hearing arguments today in a case that could determine access to abortion medication from millions of women. The dispute revolves around whether the FDA overstepped its authority when it made it easier to get mifipristone, one of
two drugs used in medication abortion in the Metzger. A spokeswoman for Planned Parenthood says it is the biggest abortion case since the Justices overturned Roe v. Wade.
This could upend and jeopardize medication abortion access in all fifty states.
There's a lot of stake.
And It's really unfortunate that almost two years later, we are back at the Supreme Court fighting for our rights.
Carol Tobias, president of National Rights to Life, says, the Justices need to rein in the FDA.
They are letting their zeal for abortion guide their actions and control their actions. I do question their sincerity and their expertise in this area.
The High Court must decide whether to reverse a federal appeals Court ruling that cut off access to MCFRA pristone through the mail and shorten the time the drug can be used from ten weeks to seven. Global news twenty four hours a day and whenever you want it with the Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Karen.
All right, Michael Barr, thank you.
Well.
We do bring you news throughout the day right here on Bloomberg Radio. But now, as Michaels said, you can get the latest news on demand, and that means whenever you want it. You can subscribe to Bloomberg News Now to get the latest headlines right at the click of a button. Get informed on your schedule. You can listen and subscribe to Bloomberg News Now on the Bloomberg Business App, Bloomberg dot Com plus Apple, Spotify, and anywhere else you
get your podcasts. Time now for the Bloomberg Sports Update. He brought to you by Tri State Audi. Here's John Stashauer. John, Good morning, Good morning Karon.
A little Knick's history made at the guard and tail end of an otherwise uneventful blowout win over the lowly Detroit Pistons. Dante Devencenzo made his eleventh three point of the game. That's a Nick record. He poured in forty points the Knicks one win, twenty four to ninety nine. Evencenzo had help from his former Villanova teammates. Jalen Brunson scored twenty eight and another triple double for Josh Hart, his sixth of the year. Nets ended a six game
losing streak. They won in Toronto, ninety six to eighty eight the league leading Celtics in Atlanta, blew a thirty point lead, loss by two. The Wizards won by two in Chicago, just their fourteenth win of the season. The NCAA Women's Tourney, the final home game for Caitlyn Clarks.
She scored thirty two.
Her teammates only added twenty two, but Iowa won by ten Ugon beat Syracuse as Husky Star Page. Beckers also scored thirty two, and her coach Gino Oriema said Beckers, not Clark, is the best player in the nation. News broke last week of the firing them Showouts's interpreter and close friend Ape Muzaharia for stealing millions from Otani to cover his gambling deaths. In the original ESPN report, Musahari said Otani himself made payments to an illegal book. He
later changed his story. Otani, through his new interpreter, made his first public comments yesterday.
I never bet on baseball any other sports, or I never have asked somebody to do all might behalf and I have never went through a bookmaker to bet on sports.
Tony says he knew nothing about anything until last week. NFL owners meeting in Orlando. They voted to penalize the so called hip drop tackle. They voted in the opportunity for teams to challenge roughing the passer and intentional grounding penalties.
They delayed to vote.
On whether private equity firms can acquire stakes and teams. John Stash, Edward Bloomberg, Sports.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com, Bloomberg Television, and the Bloomberg Business app. This is Bloomberg day Break, and we.
Are following some breaking news out of Baltimore on Bloomberg. The Francis Scott Key Bridge has collapsed in Baltimore. That bridge spans the lower Patapsco River and the outer Baltimore Harbor. It carries Maryland Route six P ninety five in Baltimore. Some folks may know it as the Baltimore Beltway. It's a major thoroughfare. We're going to get the very latest now with Bloomberg's Creedy GROUPA. She's been covering this story all morning long. She brings us the very latest, Creedy.
Can you just bring us up to speed on what happened this morning?
So we're still putting the details together, Amy, but we're What we do know is that this is a cargo ship flagged in Singapore, and what that basically means they run the Singapore fag dismissarily mean they're from Singapore that hit and the Baltimore Bridge. This is the Francis Scott Bridge that we saw, as you mentioned in Baltimore Baltimore excuse me, which is the first bridge by the way that gets you into the port of Baltimore, that gets
you into Baltimore Harbor. Now, the reason this is so significant because, of course it has been named as a mass casualty event, not only by the Mayor of Baltimore, but some of the other authorities involved as well. It is still a rescue operation. Reports from anywhere between seven to twenty people at the moment where you did see actually vehicles that were crossing the bridge at the time
go into the water. So in terms of details of what actually happened, that is all we know, but of course those details are still rolling in.
Can you give us an idea of how it looks. I know you've been following this from the very beginning. We've heard reports it's a partial collapse, but it just seems far more serious than that.
So it is a partial collapse, and that this is one part of a bridge that spans a very very long way. What's significant about this part of the bridge for commuters around the world, around the world and around the country that aren't familiar that this is a part of the bridge that a lot of people going from DC to New York use you kind of use the bridge to go around Baltimore and avoid the kind of inner city traffic there. So that's why this part of
the bridge is so significant. That's why they're calling it a partial collapse, even though from them images it looks like the entire thing fell into water.
And you had mentioned that this was a ship, a cargo ship that had been flagged in Singapore. Do we know anything else about that ship? Did it sink, is it still there, is it on the scene, what do we know?
It looks like the remnants are still on the scene. It did not sink just yet. But remember we're talking about a cargo ship that was big enough to strike a bridge here. What's also important is that is a Singapore flagship. I believe it's called the Dali based on just kind of tracking reports that we've gotten, and it's
actually one that is headed for Colombo, Sri Lanka. So we're still waiting on the details of what kind of trade it was, whether it was headed eight or out of the port, and whether or not this was a mechanical failure, whether it was a deliberate action. We don't know. These details just yet again, Amy, First and foremost, this is a rescue operation. But what we do know about the surrounding area is simply that the Interstate Highway I
six ninety five. I believe the traffic is halted for motorists, as is the Port of Baltimore itself. It is not taking in any new cargoes at the moment.
And very briefly you had mentioned it was a mash cat mask casualty event. You had said some numbers, can you repeat those for us?
Well, it looks like according to AP about seven people were believed to have fallen in the water. You've seen report some other news organizations that have bought that number up to twenty. So the numbers are still quick, quickly moving, and of course an ongoing, developing situation.
Bloomberg's Creedy Gupta, thank you very much for bringing us up to speed this breaking news out of Baltimore. The Francis Scott Key Bridge has at least partially collapsed. It is a major thoroughfare for commuters. There were cars on the bridge when this cargo ship hit it, and we
will bring you more as we get it. We're going to be shifting gears now talking about politics, President Biden gaining ground against Donald Trump in six of seven key swing states significantly so and at least two of them, and the result mix for the Democrats strongest position yet in a monthly Bloomberg News Morning Console poll. We're going to break down some of these numbers now with Bloomberg News Politics reporter Laura Davison. Laura, thank you for taking
the time. Let's get into this poll. It shows President Biden gaining some ground. Where is he traction?
Yeah, so, really the blue wall states are where you're seeing him pick up the most support. So this is Michigan, Wisconsin, and Pennsylvania, and these are states that he won in a twenty twenty were critical and that you know, while there's you know about seven swing states around the country, you know, these are the three that Biden has really focused on in terms of his travels, in terms of his outreach autoworkers, and really where he feels you know that he kind of you know, is able to speak
to voters the most. There's you know, also Nevada, Arizona, North Carolina, as well as Georgia, where he actually lost ground this month.
Is where we saw him gaining traction. Is this a one time bomp? Is this some sustainable change? Are we able to gauge that? So right now, this is just one data.
The one month of data, you know, for this month has been this poll has been conducted since October, and we've seen Trump with a steady lead and growing. This is the first month we've really seen those fortunes reversed for Biden and seen his numbers tick up. You know, it's a it's this poll was in the field in
mid March when a couple significant things were happening. This when in right after both Trump and Biden clinched the nominations for their respective parties, So the race really crystallized and solidified for a lot of people knowing that, okay, these are going to be the two candidates. The other thing that happened right before the poll went into the field is Biden had a State at the Union address.
This was generally lauded as a good speech for the president where he had a vibrant speech, was able to reach out to a lot of people. So these were sort of two favorable things for Biden heading into when voters were asked about their preferences.
Let's talk a little bit about Donald Trump since you brought him up, I'm wondering if that had any impact on the polling. And what I'm referring to is his legal issues. He had a lot of a lot going on in court yesterday, which we'll get to, But did any of that seem to register with voters or is that just wallpaper?
So for right now, it's wallpaper people. You know, Trump's legals issues have been going on for you know, basically a year now at this point, with multiple indictments, appearances. You know, they have really, you know, kind of bubbled up recently with you know, all of these large judgments that he has to pay and trying to find the
financing for that. But what the poll really shows is people's opinions on who they're going to vote for or not vote for don't really crystallize until or unless Trump is convicted of a crime. And given sort of the way that a lot of these these trials have been delayed, it's not looking like it's very likely that there would necessarily be any conviction by the time November rolls around.
Except for one trial. Right, let's learn more about the one that's coming up next month. That's that hush money trial, and the judge just yesterday said nope, we're doing this April fifteenth jury selection. Let's learn more about that. Donald Trump was not delighted with that decision.
Yes, this is one that they had been trying to push further and further. You know, his basically his lawyer's argument was, look, any trial before the election is fundamentally unfair. This it did get delayed slightly, was supposed to start this week, actually was pushed to start April fifteenth. So this will be the real test a lot of legal watchers. This is the hush money trial looking at a stormy channels and a payment made to her back before the
twenty sixteen election. So this has really seen as the weakest of the of the various indictments that are out there. But this could really be a test case to see both you know, how you know, how things are playing out in the courtroom, but also politically, you know, do you know, opinions start to shift after people see you know, Donald Trump in the courtroom for weeks on end sitting trial.
Now he also managed to make a lot of money. Yesterday, a social media company wrapped up its long merger process Trump in one day gained billions of dollars. How's that going to impact his campaign?
So for right now, these are paper gains that he has, but he is able to tap this money come October, which of course is you know, just weeks before the presidential election. But you know, it's it's a really interesting dichotomy for Trump right now because he is richer than he has ever been. However, he is facing all of
these strains on his finances. He you know, has you know, a judgment, this's one hundred and seventy five million dollar payment that was reduced from you know, more than half a billion dollars yesterday, but stilly a substantial sum as well as legal fees that are mounting. His campaign is not doing well financially, so he has a lot of financial pressures facing him.
You are listening to Bloomberg Daybreak today, your morning brief on the stories making news from Wall Street to Washington and beyond.
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