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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 developments in the Russia Ukraine war. Reuters is reporting Vladimir Putin is willing to talk with President like Donald Trump about a ceasefire deal in Ukraine that could roughly freeze the war along current front lines. We get more from Bloomberg's Oliverkruk.
There's room for negotiation over carve outs over the four regions of Donetskluhan, Saparija, and Karazon. And then we also know that they're open to withdrawing potentially. So this is the Russian talking about potentially withdrawing from small patches of territory in other parts of Ukraine. Now, another point that he will insist on, Putin will insist on, is that
Ukraine abandon his ambitions to join NATO again. This is potentially closer to a wishless from what the Russian side wants, but it is significant because if it is accurate, this is some of the first sort of concrete sketches we have heard from the Russian point and potentially a sort of opening negotiation discussion.
Bloomberg Zali Krook says President Biden's decision to allow Ukraine to use long range missiles inside Russia could complicate any settlement. In another development, Bloomberg News has learned the US has decided to provide Ukraine with anti personnel land mines to blunt the advance of Russian troops.
Meanwhile, Nathan the US Embassy in Kiev says it's received warning of a potentially significant Russian air attach and would be closed as a precaution. The embassy also instructed employees to shelter in place, and also recommended that US citizens in Kiev be prepared to immediately shelter in the event of an air alert and Karen All.
This comes on the heels of the final day of the G twenty summit in Rio de Janeiro. The meeting was marked by tension and this unity. Leaders failed to agree on language characterizing the wars in Ukraine in the Middle East. The summit was also overshadowed by the looming return of Donald Trump to the White House. Diplomats are wondering what kind of role the US will play in world affairs under his leadership. Bloomberg's Roz Matheson has more from London.
It seems like this meeting was particularly chaotic as well. We had that weirdness over the family photo where three
of the leaders missed it. It had to be redone in a different setting a day later, which was all a bit awkward, and it just seems to reflect the fact there was a lot going on behind the scenes in terms of disagreements and arguments over be it the war in Ukraine, but also the conflict in the Middle East, and more than anything, hanging over it the sense of the fact that Donald Trump's returning to the White House and what that means for these leaders and for the rest of the world.
Bloomberg's Roslind Matheson says the summit was built as a moment for the West and the rest to show unity, but it served to show how quickly the guardrails are coming off the international rules based order.
All right, Nathan, Now let's get to the leaatest on that Trump a transition president like Trump has added read more big names to his cabinet. He's tapped Kenner Fitzgerald CEO, Howard Lutniks, Comer Secretary after taking him out of the
running for Treasury. Linda McMahon, the former World Wrestling Entertainment CEO and small business administrator in the first Trump administration, is Trump's choice to lead the Education Department, and Trump has named Memetaz, the celebrity doctor, to lead the centers for Medicare and Medicaid Services. We get more on that pick with Bloomberg's Wendy Benjaminson in Washington.
He was a professor of medicine at Columbia University, but he has spent a good deal of his career in the last ten years promoting, you know, sort of fringe fringe medical things, a lot of wellness stuff that isn't quite you know, on the beam with a lot of the medical community.
As for the Treasury choice, Karen President like, Trump's working to get that back on track, sources tell Bloomberg News. He's holding interviews today with two top contenders, former Fed Governor Kevin Walsh and Apollo Global Management CEO Mark Rowan. Another potential candidate, Tennessee Senator Bill Haggerty spent much of yesterday with Trump. Key Square Group founder Scott Bessant is also in the running for Treasury.
Well Nathan oak Tree Capital Management co founder Howard Marx is weighing in on the upcoming Trump presidency. He spoke with Bloomberg Television in Asia.
Number one, what's going to happen? Nobody knows. His appointments are not firmed. They have yet to be confirmed. His policies are not known. What is he going to do? Nobody really knows what he's going to do? Number two? What else will be going on in the world. He's not the only show. It's complicated. Number three?
How will the market react to all these things?
Number four? The president's influence on most things is usually quite limited.
Well. Oak Tree Capital Management co founder Howard Marx says US stocks are on the high side relative to history. He wasn't overly bearish on US assets.
And in another political development, Karen San Francisco mayor London Breed has lost her reelection race to Levi Strauss Air Daniel Lourie. The Associated Press called the race yesterday. Breed was elected in twenty eighteen as San Francisco's first black female mayor. And we should note that Michael Bloomberg, the founder and majority owner of Bloomberg Radio parent company Bloomberg LP, donated one four to five million dollars in support of London Breed's reelection campaign.
Well, Nathan. Now let's turn to another historic moment for SpaceX. The company successfully conducted its six Starship test flight yesterday in South Texas, with the Starship successfully reigniting an engine in space for the very first time. SpaceX hopes the powerful rocket can eventually carry humans and cargo to Earth's orbit, the Moon, and even Mars. It did aboord the second test of its booster catch, However, citing safety concerns, we did.
Not attempt a return to the launch site and catch attempt today when strict criteria were not met, and the super heavy booster executed a planned divert to a landing burn and soft splash down in the Gulf of Mexico.
Standing alongside SpaceX founder Elon at the test launch in Brownsville, Texas, President elect Trump, and other Republican allies, including Texas Senator Ted Cruz.
Let's turn back to markets now Karen for what may be the most highly anticipated earnings report of the year, and Vidia comes out with its latest results after today is closing. Bell and Bloomberg's Tom Busby has more.
And want to expect and Vidia, the final member of the Magnificent seven Tech giants and the world's most valuable company pois to deliver another blowout earnings report on insatiable demand for its artificial intelligence chips. The question for investors ken in Vidia ramp up supplies of its latest GPUs,
the Blackwell Line, after a series of manufacturing setbacks. Bloomberg consensus calls for revenue of thirty three point twenty five billion dollars, so justin earnings per share of seventy four cents. Tom buzzby Bloomberg Radio.
All right, Tom, thank you. In Europe, UK inflation accelerated more than forecast in October to well above the Bank of England's two percent target. Consumer price inflation rose to two point three percent from one point seven percent in September. The figures are likely to lead to a conscious approach from the Bank of England, reducing the prospect of further
interest rate cuts in the coming months. 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, Good morning.
Karen House panel meets today to consider releasing results of an investigation of the former Congressom Matt Gates, president like Donald Trump's pick for attorney general. The beating comes after a woman reportedly told the Ethics Committee she had sexual relations with Gates when she was seventeen years old. New York's first and the nation congestion pricing for people driving on Manhattan's traffic clock streets faces a legal threat that
could now kill it. More from Bloomberg's Genae Cervetti.
Under the plan to ease congestion and pollution, starting on January fifth, most drivers will pay nine dollars to enter the tolling zone. But if a judge agrees with New Jersey Governor Phil Murphy that the plan must undergo additional federal environmental roofs, that would almost certainly push the start date into the administration of President elect Donald Trump, who
opposes congestion pricing. Trump, who is to be inaugurated on January twentieth, could simply direct the Federal Highway Administration not to sign off on the revised program. Genus Cervetti Bloomberg Radio.
Firefighters extinguish a fast growing brush fire in Upper Manhattan that briefly blocked traffic as a deepening drought feeds hundreds of blazes across the region. The blaze broke out of the Washington Heights neighborhood. Nobody was hurt. The fire came one day after New York officials instituted a drought warning, and the FDA says an inspection of a TOMS of Main facility in Sanford, Maine turned up several violations, including bacterian wine are used to make toothpaste and a black
moldlike substance near manufacturing equipment. Global News twenty four hours a day, and whatever you wanted with Bloomberg News. Now, I'm John Tucker. This is Bloomberg Nathan Karen.
All right, John, thank you time now for the Bloomberg Sports Update, brought to you by Try State Outye. Here's John Stanshawer, John, good morning.
Good morning Cara.
We'll see after the season if the Giants shake things up, but we now know there will be new faces coaching and running the Jets. Six weeks after the firing of coach Rob Salad, General manager Joe Douglas shown the door. Phil Savage, the former Cleveland gm who've been working as the Jets advisor it takes over on an interim basis. Douglas was in his sixth season on the job, and the Jets record during his time thirty and sixty four brought in some good players. His biggest blunder was drafting
quarterback Zach Wilson's second overall back. In twenty twenty one Ranger road trip so far, two games, two wins in Vancouver, Chris Kreider's goal midway through the third period gave the Blue Shirt to four to three victory Islanders. Also in Western Canada, they lost to one in the shootout in Calgary. The Nets after two weekend road losses to the Knicks back at Barkley's able to top Charlotte one sixteen one
fifteen Cam Johnson thirty four points. Cleveland brought it's fifteen to zero record to Boston, trailed the defending NBA champs by twenty one, got the deficit to two in the fourth quarter before the Celtics hung on one twenty to one seventeen. Donovan Mitchell then reflected on the cavs shockingly strong start.
It's fun, you know, when you're playing basketball, good basketball, and then obviously winning games. Whether it's plowouts, close games, come from behind wins. You know, you enjoy these moments and for us, you know, it's great to be a part of history. I wish would have kept it going, but like I said, there's no championships in November. This is a great part of the season. Now we just continue to not We're not losing to a row. Let's go Bicks.
Start a five game road tip tonight in Phoenix. Managers of the Year both winners in their first year on the job, Cleveland Steven Vote, Milwaukee's Pat Murphy. The Mets Carlos mendoz To finished third. The Mets have bad had an outfielder acquiring in a trade with Tampa Bay. Jose sirie Hit only won eighty seven last season, be he's very good defensively. In Spain, an emotional final match of
thirty eight year old rap Field of dwa's career. Twenty two time Grand Slam winner lost in straight sets in Spain's Davis Cup match with the Netherlands. John Stanshdan We're Bloomberg Sports Karen Nathan.
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.
The main story this morning is on developments in the Russia Ukraine war. Reuters is reporting that Russia is willing to talk with President elect Donald Trump about a ceasefire deal with Ukraine. That's after President Biden authorized KIV to use long range missiles to strike deeper inside Russia. Ukraine's ambassador to the European Union, sevilod Chensov, says, that is what's bringing Putin to the table.
It shows that it works. So if you talk to him with a position from strands, so they they're more ready for a conversation.
Ukrainian EU Ambassador sevialod Chensov spoke with Bloomberg this morning, and we are joined now by Bloomberg's Kevin Whitelaw. And Kevin, we've heard the Kremlin respond to this writer's report saying that Russia's always been willing to talk with Ukraine, but a freeze wouldn't serve Russia's interests. What to make of this latest report that Putin is willing to talk at least with President elect Trump.
Yeah, I think we need to take this with a whole bunch of caveats obviously, you know, I think Putin is at this point pretty happy to have anyone in the West engage with him, but it's not clear that he's going to actually give them anything, or at a situation where, if you look at this what's been happening on the ground, Ukraine has sort of been very very very slowly losing in Russia is very very very slowly gaining, and so it's in a place where it's not clear
that Putin has the interest or the imperative to really negotiate, and Ukraine would like to get to a position where it can, as the ambassador was saying, negotiate from a
position of strength. So to the degree that Donald Trump is going to come in and potentially prompt or start or force some kind of a ceasefire conversation right now, I think Russia probably feels it as a little bit of an upper hand in Ukraine is trying to figure out how it can regain that one of the ready reasons it was so interested in being able to carry out strikes into Russia using these US long range missiles.
We've also seen not just the long range missile strike for the first time, but reports now that President Biden is authorizing Ukraine to use short term land mines as well. What could that mean for a potential negotiation once President Biden is off the scene.
Yeah, I mean, at this point, you know, Biden is trying to pull out just the remaining little stops to try to put Ukraine in as strong a position as possible for when it you know, for when Trump takes office, mean sort of running out of things to do. The missiles, long range missiles was probably the most important as far as Ukraine was concerned, but you know, the rules are coming with some limitations that are are you know, restricting
some of what Ukraine hoping to use them for. So obviously Russia has been able to strike into Ukraine with a decent amount of success, particularly when it comes to targeting the electrical grid. Ukraine really wants to find ways it can try to make it, you know, sort of damage the ammunition stocks and some of these you know, operating bases that that Russia has been using to stage these things. So unclear whether they're going to be able
to really change the dynamic on the ground. And you know, I think if if Russia feels it is very, very very slowly winning. It's been able to bring in reinforcement troops from North Korea, it's getting weapons from other countries.
It might feel that it doesn't have quite as much of an incentive to to to you know, give Ukraine a whole lot in a negotiation, which is why everyone's going to be focused on just you know, what Donald Trump is going to bring to the table and whether he's going to try to force Ukraine to accept the you know, kind of deal that it just up to now has just been simply unwilling to consider.
And all this is coming, Kevin, in the backdrop of a g twenty summit that saw a lot of disagreement over even how to characterize the war in Ukraine in our last minute, Where could things go as we continue to work through this transition.
Yeah, well it is a transition. It's a transition in several different countries. You've got, you know, in Germany effectively a lame duck chancellor with snap elections coming in February. You've got the French president Manuel Microme distracted by some of his own issues. So you definitely have a Europe that has to see if at a time where some of its normal leadership voices or maybe not as fully engaged on this issue. Can they really find some way to step up if the US walks away.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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