Bloomberg Audio Studios, Podcasts, Radio News.
Good morning. I'm Nathan Hager.
And I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with the latest on a possible government shutdown, with a midnight deadline now just hours away. A revised funding plan backed by President elect Donald Trump and Elon Musk has been rejected by the Republican Ledhouse. That's after Musk and Trump came out against a previous bipartisan stopgap measure. House Speaker Mike Johnson spoke after thirty eight members of his own party voted alongside nearly all Democrats to reject the latest proposal.
Very disappointing to us that all but two Democrats voted against aid to farmers and ranchers, against disaster relief, against all these bipartisan measures that had already been negotiated and decided upon. Again, the only difference on this legislation was that we would push the dead ceiling to Anyuary of twenty twenty seven.
Well that House Speaker Mike Johnson says Republicans will regroup and come up with another solution ahead of the vote. House Democratic Leader Hakim Jeffries called the plan laughable.
One or two puppet masters weigh in, and the extreme maga Republicans decide to do the bidding of the wealthy, the well off, the well connected millionaires and billionaires, not working class people.
House Democratic Leader Hakim Jeffrey says Republicans are driving the government to a shutdown.
Well Nathan.
President elect Trump weighed in on truth Social after the vote, saying there should be no government funding deal without removing the debt ceiling. As he put it, the pressure is on whoever is president. Vice President elect JD. Van says Democrats are just trying to make things harder for each second Trump administration.
They would rather shut down the government and fight for global censorship boards.
They've asked for a shutdown, and I think that's exactly what they're going to be.
Vice President elect JD.
Van says Democrats don't want to give Trump negotiating leverage. During his first year, A Democratic Congressman Jamie Raskin says his party mostly voted against the new plan after the original agreement blew up.
I had one Republican colleague say, now it's President Musk and JD.
Vance as vice president.
But where does that leave Donald Trump?
The president of.
The lect Democrat Jamie Raskin, rejected the DAL that would have set March fourteenth as the new funding deadline.
Well Karen, President, like Trump, is also taking the truth social to issue a new trade threat. He is warning the European Union that he'll hit the block with tariffs unless it increases purchases of American oil and gas.
The US is the.
World's biggest exporter of liquefied natural gas. More than half of American l and GX sports went to the EU last year in the wake of Russia's invasion of Ukraine.
Well Nathan elsewhere overseas.
A delegation of American diplomats has arrived in Syria this morning to meet with representatives of several Syrian factions. One of them is the rebel group HTS, which has designated a terrorist group and overthrow the country's longtime dictator, Bashar Ellis Well Karen.
Secretary of State Anthony Blincoln says the US has received positive signs from HTS. He spoke to Bloomberg about plans for engaging with Syria.
I think it's important to have direct communication.
It's important to speak as clearly as possible to listen to make sure that we understand as best we can where they're going and where they want to go.
Secretary of State Blinkin ads he's been in close contact with the incoming Trump administration. He says he wants to give them the best possible hand to play in geopolitical conflicts around the globe.
Well, Nathan, we turned now to the markets, and trader's attention turns today to the last major data point of twenty twenty four, the Personal Consumption Expenditures Index for November. It comes after yesterday's figure showed faster than expected economic growth and robust consumer spending. Those numbers weaken the case
for imminent rate cuts. After FED Chair J Powell sing on a hawkish pivot earlier this week, RBC chief economist Francis Donald says economic data are likely not the only factor influencing the FED strategy.
This is really a federal reserve that, even though they say they're not incorporating the effect of Trump policies, or some of them are, but some of them are not, is absolutely internalizing what they expect to come next. It
is in their psyche, in their biases. They are afraid of inflation and Powell, while trying to speak out of both sides of his mouth, really gave the impression that the Fed is focused on what those CPI PC numbers are going to look like, and therefore that's what the market will be focused on.
RBC Chief economist Francis Donald says, while sectors like manufacturing and housing face real price pressures, the AI and productivity boom may help sustain growth into next year.
Turning now to Bitcoin, the world's biggest crypto currency, hit a record high this week above one hundred eight thousand dollars on hopes of crypto friendly policies in a new Trump administration. The Fed's pivot, though, has sent the token down more than ten percent since then, and checking bitcoin prices right now, they're down another three percent, just below ninety five thousand dollars. But many are still bullish on Bitcoin, including ARC Investment Management CEO Kathy Would.
If institutional investors are looking at this new asset class more seriously, and bitcoin is really the first of its kind in a new asset class and will be, we believe, the biggest opportunity of them all, they must consider an allocation.
ARC CEO Kathy Wood tells Bloomberg she thinks bitcoin could top a million dollars by twenty thirty.
Hey, Moe, Nathan, we have a fresh headline and the potential merger of Nissan and Honda. Bloomberg News has learned fox Con is putting its interest in pursuing Nissan on hold after the Taiwanese smartphone makers send a delegation to meet with Renault, which owns thirty six percent of Nissan. Sources tell as fox Con is waiting to see if Nissan and Honda make real progress on a deal before designing its next move.
Another company News, Karen Alphabet CEO soon Dar Pishai, told employees this week that Google cut its manager, director and vice president roles by ten percent in a push for efficiency. That is, according to a report from Business Insider. Back in twenty twenty two, Pitchai said he wanted Google to be twenty percent more efficient. He eliminated twelve thousand rolls the following year.
And finally, Nathan.
Starbucks baristas are going on strike for five days starting today, and stores across Los Angeles, Chicago, and Seattle. The strike as a result of an impasse in bargaining sessions. The Starbucks workers United Union is seeking better pay, schedules and hours. The union expects the strike to spread to hundreds of stores by Christmas Eve. Starbucks says the union prematurely ended negotiations.
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 John Tucker, John good Morning, and.
Good morning, Karen Hillage CEO killer Luigi Mangioni is back in New York and could now face the federal death penalty, and Bloomberg's Lisa Matteo joining US Live this morning with the very latest.
Lisa, good Morning, Good morning.
John y Joni was charged with murder by federal prosecutors for killing of United Health Group executive Brian Thompson. Well Now, lawyer for the alleged killer, told a US judge in New York that one of those federal charges was quote death eligible.
Karen Freeman.
In a niphilo, she complained that the theories between separate cases followed by the Satan federal prosecutors seem different and that she's quote never seen anything like what is happening here in over three decades of practicing law. Now What's interesting, John, is that in New York State, while they haven't executed a convicted felon in more than sixty years.
Bloombergs Lisa Matteo.
Lisa thanks the Pentagon, a ship anti drone technology to an area of New Jersey located where signings some mysterious aircraft has set residence on edge and drone accusations that the federal government isn't taking the incident seriously. The Defense Department provided equipment capable both of detecting drones and also disabling them, whether it could put the freeze on some holiday travel plans At Bloomberg, Meteorologist Rob Carolyn gives the update.
John Arnik.
High pressure building out of the Dakodas this morning will continue to affect the central planes and eventually move through the mid Atlantic States, the Great Lakes, the Ohio River Valley in the Northeast with some of the coldest air we've seen so far this season, and looks like that area is going to remain in place right through Christmas Eve Day.
Bloomberg Meteorlogist Rob Carolyn.
Thousands of Amazon workers striking for better pay and working conditions. Hey WHOA The estimated numbers believed he will be around ten thousand strikers. That's out of approximately eight hundred thousand Amazon employees. The meantime, Amazon will pay one hundred and forty five thousand dollars in penalties. That's part of a settlement with the federal workplace regulators regarding allegedly unsafe conditions
at several of its US warehouse and logistics facilities. Global News twenty four hours a day, whenever you want it with Bloomberg News Now. Hi, John Tucker, and this is Bloomberg Karen.
All right, John Tucker, thank you time now for the Bloomberg Sports Update. Bronti you by Tri State Ody. Here's John Stanshower, John, good morning, Good.
Morning, Karon.
Carl Anthony Town spent nine years in Minnesota. He's the second leading scorer in Timberwolves history. He didn't leave as a free agent. He got traded to the next though. He got a big ovation in his return and then put on a show. Thirty two points twenty rebounds. Town shot ten of twelve, made all five of as three pointers. The Knicks outscored the t Wolves forty one to eighteen in the second quarter, went on to win going away one thirty three to one oh seven. Mchal Bridges added
twenty nine points. Julius Randall, also playing his former team, scored twenty four. The Nets got thirty three from Cam Johnson and won one on one ninety four in Toronto, the Celtics outscored by thirteen in the fourth quarter. Upset at home by Chicago rare win for the Wizards, just their fourth of the season. They beat Charlotte and the Lakers win at Sacramento. Lebron James past Kareem Abdul Jabbar. Lebron has now played the most minutes in NBA history.
Devils lost four too at Columbus. The Bruins lost in overtime at Edmonton. Quick sixteen began in the AFC West, where Kansas City has clinted the division. The Broncos and Chargers looking very much like they'll be AFC wild Cards. They met in La Denver, going for a fifth straight win, had an eleven point lead with three minutes left in the third quarter. The Chargers rallied two fourth quarter touchdown passes by Justin Herbert. LA won thirty four to twenty seven.
Both teams now nine and six. Indiana and Notre Dame both win eleven and one. They played tonight an in state battle in South Bend to start the now twelve team eleven game college football.
Playoff, with three more games tomorrow.
The newest Yankee, Cody Bellinger, has already played in two large markets with the Dodgers and Cubs, was asked about now playing in New York.
I have an opportunity here to play for one of the best franchises in all the sports.
I knew there was interest, and you know, like.
I said, I wanted to take advantage of the opportunity, and I'm just glad that it was all able to work out.
Bellinger admitted his father very happy with the trade. Clay Bellinger was a Yankee for three seasons, won two championships.
John Stanshewer Bloomberg Sports, Karen Navian.
Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Will the third time be the charm in Washington, d C.
Well, the pressure is really on lawmakers now with less than twenty four hours till a.
Government shut down deadline.
The House has voted down the latest proposal that was backed by President like Donald Trump to keep the government open into March and to keep the debt ceiling from existing for another two years. Chip Roy of Texas is one of the thirty eight Republicans who voted no.
Not going to go vote for another debt sealing increase without.
Actual specifics on what the cups will be. That's another non.
Starter for me, Republican Chip Roy of Texas. After the latest stopgap went down and defeat last night. From More this morning, we are joined by Terry Haynes, founder of Pangaea Policy.
Is your countdown clock setup? Harry, what's the risk of a prolonged shutdown?
Now?
Good morning, Good morning data. Uh, you know these things never really last very long, you know it. The politics, the you know two things. One, you know that you've got a bunch of politicians here that are showing on this issue that they're not really very good at politics, which is sort of weird, but there it is. You know, good politicians talk to each other. Good politicians, you know, even from particularly from on the other side. You know, know what's going to happen and kind of what the
room for maneuver is. None of that's happening here. Secondly, on Trump and Musk and Ramaswami and those folks, you know, turning it up to eleven like spinal tap, you know, at the very last minute shows a lot of things. But one of the things that shows markets is that Trump's much less likely to actually achieve the things that they think he's until recently that he was very likely to achieve. That's a very bad look for Trump, and I think what he needs to do is stand down,
stand back from this and cool the temperature off. But you know, I think I think what the politicians will do over the weekend is figure out the minimum they need to do and actually do it and be done.
Why have this debt ceiling fight?
Now?
What is Trump wanting out of this?
You know, what he wants and what he's getting are really two different things. What he wants is he doesn't want the debt ceiling fight, which has to happen in the late winter early spring, excuse me, in the late winter early spring, to overshadow the tax the tax bill and revenue raising and the other things that he wants
to do. But he's what he's showing is that he doesn't understand how dug in a lot of Republicans are not just the thirty eight or so that voted against voted against last night, but how much of an article of faith keeping the debt ceiling and keeping some sort of restraint on federal spending is and has been the Republicans for a lot of years. So what it shows is that he's out of touch with his own his own political base in Congress. That's that's a very bad look for him.
Well, he was threatening to primary Republicans who voted against this, and as we heard Chip Roy there, he's one of the hardliners on Capitol Hill. How serious is that primary threat from President like Trump?
Well, I think that's one of the things that my guess is that that's one of the things that kind of gets said in the heat of the moment, probably goes away after after all this is over, there's going to be a lot of patching up that's going to have to be done on the Trump side as well as from the Republican side. But you know, Trump thought he was just going to seam roll these guys into into voting for something that that they wouldn't vote for
you know, he's got another thing coming. Frankly, this is so it's difficult to impossible to steamroll, you know, the coequal branch of government. And that's exactly what Congress is and more importantly, what they consider themselves to be. And and you know you can't your first your first goal here can't be to unman these folks, particularly when you need all of them just to accomplish anything that you
want to accomplish. He can't accomplish without them. So therefore, therefore he's going to have to make it up to them, not the other way around.
We have just thirty seconds left, Terry. But where's President Biden and all this? Does he need to speak up more?
He well, I think it's passed the time in which anybody, even in Biden's own party is going to be able, is going to listen to him or much care that. They think they've been carrying water for him for way too long. They need to forge their own path forward, and they're trying to do that.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
Look for us on your podcast feed by six am Eastern each morning on Apple, Spotify, or anywhere else you listen.
You can also listen live each morning starting at five am Wall Street Time on Bloomberg eleven three to zero in New York, Bloomberg in ninety nine to one in Washington, Bloomberg ninety two nine in Boston, and nationwide on serious XM Channel one twenty one.
Plus listen coast to coast on the Bloomberg Business app now with Apple CarPlay and Android auto interfaces.
And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it in five minutes or less. Search Bloomberg News Now on your favorite podcast platform to stay informed all day long.
I'm Karen Moscow.
And I'm Nathan Hager.
Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak