Good morning.
I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
We begin with the fight for Ukraine funding in Washington. Ukraine's President Vladimir Zelenski was in the nation's capital yesterday pleading with lawmakers to approve sixty one billion dollars in aid for his war effort against Russia, but he left with no clear commitment. President Zelenski says any delays in extra funding benefit Putin and threatened the rest of the world.
And this moto resonates not only in our country, not only in our hearts, not only in Ukraine, but also in Poland and Baltic States, Moldova and others. When freedom is strong in one country, it is strong everywhere.
President Zelenski spoke alongside President Biden, who vowed the US will come through to stop Vladimir Putin.
Today Ukraine's freedom is on the line. But if we don't stop Putin andlling danger the freedom of everyone almost everywhere, pun will keeping and would be aggressors everywhere will be emboldened to try to take what they can by force.
The President Biden says Congress must pass supplemental funding for Ukraine, but that support is stalled. Congressional Republicans are demanding support for border security as part of any deal. Meanwhile, a Russian missile attack on Ukraine's capital, Kiev this morning has left dozens injured.
Well, Nathan, we're also closely following the ongoing war between Israel and Hamas, and we're seeing a divide on that front. There is a split in thinking between the US and Israel, and it's made its way into public view and Bloomberg's and Baxter joins us with that story.
President Biden very openly saying that Prime Minister Netanya, who has to change our risk losing international support. He's referring to two things. First that after the war, Israel must be thinking about accepting the Palestinian authority and second, in the way in which the war is currently prosecuted.
Attempting to do everything possible to prevent innocent palace to the incidents from being being hurt murdered, kil.
Lost that Yahoo in response, says he will not accept Palo standing authority rule. Meanwhile, the UN General Assembly has voted a call for US cease fire at Baxter Bloomberg Radio.
Okay and thank you. Meanwhile, House Republicans plan to vote today on formalizing their ongoing impeachment inquiry into President Biden. The move will force lawmakers to take a public position on the investigations. Speaker Mike Johnson says formal approval will help him enforce subpoenas for the House committees that are investigating Biden family businesses.
Well. Turning to the economy, now, Nathan, all eyes are on inflation and the Fed. Today we get the Producer Price Index at eight thirty Wall Street time. Then this afternoon we hear from Fed Chair j Powell after the Federal Reserve makes its final interest rate decision of twenty twenty three. Dana Peterson, chief economist at the Conference Board, thinks the Fed's done hiking rates, but may only cut rates a couple times next year.
We think anywhere from fifty two hundred basis points makes sense, especially if inflation, according to the SEP, doesn't get beyond two percent before the end of next year.
The Conference Boards Dana Peterson thinks the Federal Reserve will reach its goal of two percent inflation, it can't cut rates too much in twenty twenty four and follow Bloomberg all day for coverage of the FED decision. Live coverage begins ahead of J. Powell's or marked with a special edition of Bloomberg Surveillance at one thirty Wall Street time on Bloomberg Radio and Television.
In Company News this morning, Karen elon Musk's X, the social network formerly known as Twitter, is set to bring in roughly two and a half billion dollars in ad revenue in twenty twenty three. Bloomberg Tech reporter Kurt Wagner says this is a significant slump from prior years. He thinks Musk's personal tweets are scaring off advertisers.
Musk seems to not really be aware that his own behavior is having this dramatic impact, or if he is, he just simply doesn't care. But I think that's really the issue, more than anything, is that he's not really giving advertisers a good enough reason to come back.
Bloomberg's Kurt Wagner says AD dollars account for seventy to seventy five percent of excess total revenue.
Elsewhere in tech, Nathan Netflix yesterday released global midyear viewer data for every title on its service. It's the first of what the streaming Giants said will be regular reports as it looks to increased disclosure of audience and data. The Night Agent took the number one spot, followed by Ginny and Georgia and The Glory.
Turning overseas to Dubai. Karen cop twenty eight climate talks have ended in a deal that's seeing a commitment to transition away from all fossil fuels for the first time, the president of this year's summit broker to compromise with the US and European Union, agreeing to dramatically curb fossil fuel use while bringing Saudi Arabia and other oil producers on board. This outcome breaks new ground. No previous COP text has mentioned fully moving away from oil and gas.
And Nathan, we also have economic news across the globe this morning. In the UK, GDP figures shrank more than expected. Bloombergs U and Pods joins US live from London with the Good Morning Ewan.
Good Morning Kardon, Nathan. UK GDP shrank zero point three percent in October, following a gain of zero point two percent in the previous month. The drop was the first since July and worse than economists forecasts. It marks a sharp reversal from slightly better than expected figures for much of this year, and ads to the impression that Britain is stuck in a long running period of stagnation. The Bank of England makes its policy decision tomorrow. Traders have
been ramping up bets for rate cuts next year. In London, I'm you in pots Bloomberg Radio, Are you and thank you well?
Elsewhere overseas, Argentina has devalued the peso by fifty four percent. In the country's economy minister announced massive public spending cuts. Then moves are part of new President Javier Malay's shock therapy program for the country's economy, which is battling an inflation rate north of one hundred and forty percent. And it's time to over look at some of the other stories making news around the world. And for that we're joined by Bloomberg's John Tucker, John Good Morning.
Six weeks before the state's pivotal first in the Nation primary, New Hampshire Governor Chris Snuno has endorsed Republican presidential candidate Nikki Haley. He's message for GOP front runner Donald Trump, thank you for your service. We're moving on Snuno's backing of Haley comes a month after Iowa Governor Kim Reynolds endorsed Ron DeSantis for president ahead of that states first in the nation caucuses. Haley on Tuesday kicked off a
three day campaign swing through New Hampshire. New York's highest court has ordered the state to redraw its congressional map. This delivers a ruling that offers Democrats a new weapon to rest control of the House from Republicans next year. The decision could have far reaching implications in reshaping the House. New York Democrats widely expected to use the opening to try to shift two to six Republican held swing districts
the President Biden won from Long Island to Syracuse. Kroger is ordering thousands of workers back to the office for the majority of the work week starting early next year. That story in this report from Bloomberg's Charlie Penllett.
The Cincinnati based company is the largest American operator of traditional supermarkets, and it has informed employees with the option of working remotely that beginning February fifth, they have to be present three to four days a week. That is an increase from the previous guidance of two days a
week from June of twenty twenty one. The mandate will effect about fifty eight hundred employees in and around Cincinnati, as well as in Charlotte, North Carolina, Portland, Oregon, San Jose, California, Boca Raton, Florida, and Chicago. In New York Charlie Pellett Bloomberg Radio.
The University of Pennsylvania appointed the dean of its medical school as the interim president to replace Liz McGill, who resigned after an opera over anti semitism on campus. Jay Larry Jamison will lead the Ivy League school, effected immediately into a new president is named McGill and Bord chair Scott Bach resigned December ninth after coming under intense pressure from alumni, donors, and lawmakers. Global news twenty four hours a day and whenever you want it with Bloomberg News. Now.
I'm John Tucker, and this is Bloomberg Karen.
All right, John, thank you well. We do bring you news throughout the day right here on Bloomberg Radio. But now you can get the latest news on demand, and that means whenever you wantd it. Just like John said, you can subscribe to Bloomberg News Now. It's not easy, and you get the latest headlines of a click of a button. You can get informed right on your schedule. That means 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. And it's time now for the Bloomberg Sports Update with John stash Hour. And we're going to go to John right now. John stash Hour, Here.
You go, Karen.
It is still early in the NBA season with already the Warrior Draymond Green has been ejected from a game three different times. Happens last night in Phoenix when Draymond hit the Sun's use of Nurcic in the head. Draymond did apologize after the game, but said the hit was unintentional. The Sons beat the Warriors one nineteen one sixteen. Devin Brokers scored thirty two. Bradley Beeal back in the Phoenix lineup. He's been out the last nineteen games they played last
night without Kevin Durant. Celtics now eleven I at home. Jayson Tatum scored twenty five and a one twenty one thirteen win over Cleveland. Denver won at Chicago won fourteen one oh six, despite the Nuggets star in Nikola joki Is getting ejected late second quarter. The Stars were out in Dallas. Lebron James scored thirty three, but so did Luka Don says he had seventeen assistantspite playing with a bad back. The MAVs topped the Lakers by two. The
Clippers beat the Kings by twenty. Duke at eighty nine sixty eight win over Hastra in college hoops. The NFL game tomorrow is the Chargers and the Raiders, and the Chargers quarterback will be Easton Stick, a relative unknown out of North Dakota State. Justin Herbert has a broken finger. He's happy surgery, he's done for the year, and a quarterback change in Minnesota or Joshua Dobbs had done well since the Vikings acquired him following the season ending loss
to Kirk Cousins, but Dobbs has struggled lately. Nick Mullins will be the starter for the Vikings Saturday against Cincinnati. The Giants have signed a Korean outfielder, Young Hu Lead of a six year contract. John Stashedwer Bloomberg Sports.
From coast to coast, from New York to San Francisco, Boston to Washington, d C. Nationwide on Syrias Exam, the Bloomberg Business app, and Bloomberg dot Com. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. Geopolitics has turned a lot more complicated for both the wars in Ukraine and the
Middle East. Ukrainian President Vladimir Zelenski has moved on to Scandinavia this morning, has bid to drummer more support for his country's fight against Russia from Washington, d C has come up mostly empty handed, and the question of what comes after Israel's war with Hamas in Gaza has opened up a rift between President Biden and Israeli Prime Minister Benjamin Natan Yahoo that is turning more and more public.
All issues we're going to discuss now with Rosalind Mathison, Bloomberg Goose Director for Europe, the Middle East and Africa. Good to speak with you, Roz this morning. I understand from warsaw so the war in Ukraine is certainly much of a focus for you today. I mean, it's really interesting to think about how much has changed in just a year when Zelenski got this rock star reception in Washington, D C. This week, not so much.
Well, that's right, it was actually for anything. It just reinforced the struggles that are going on for Ukraine to get further commitments of aid, be it financial aid or military aid. I mean the previous trips he's done to the US, as you said, almost treated like a rock star and other parts of the world, addressing parliaments, RAUCUS crowds and so on. And now you know more and more that the conversation is turning tricky. The red carpet
is thinning out. The US President is clearly trying very hard to get something done for Ukraine before the end of the year in terms of funding and appearing together as you said yesterday and in Washington in that regard, but it only again highlighted that Congress is pretty much stuck and saying no, we're very unlikely to produce this aid before the end of the year. And then, of course you get further into the US election cycle and becomes even more complicated. And over in Brussels, EU leaders
are meeting from tomorrow. They're gathering later today to also discuss whether they can unlock further aid for Ukraine, and that's very much bogged down because of objections from countries including Hungary. So what you've got is a picture where Ukraine's going into another winter, the war is soon going to enter its third year, and nothing really is moving for Ukraine on any of these fronts.
Well, what could it mean for Ukraine if it's unable to unlock this aid from the US and from Europe, What could it mean for conditions on the ground. I mean, we've seen this work pretty much move into a stalemate at this point.
Well, that's right, and of course there's now talk of what can there be a different spring offensive in the next spring, and for that they would need those weapons. But certainly the fighting is moving very slowly on the ground. Russia is not making masses of territory, but they're certainly not losing a lot of it either, and as time goes on it becomes harder and harder harder to dislodge them.
We've seen fresh missile attacks overnight on some of the key cities as well, and going into winter, the sense that Russia is going to target again things like energy infrastructure. The idea is just to make Ukrainians as miserable as possible through the winter, so you're going to make them feel very, very cold for a start, and so there's a sense of fatigue they're creeping in in some quarters
in Ukraine. And that opens the very thorny question that people are asking and will be asked, no doubt, even more so in political halls next year, and is that at some point does there need to be a move towards the negotiation.
I don't know if we can call it a question of fatigue. When it comes to the war between Israel and Hamas in Gaza. We're only a little more than two months into it, but we are seeing that situation turn a lot more complicated as well when it comes to how the Gaza strip could be administered if Israel succeeds in defeating Hamas well.
That's right.
You saw really the most strident comments I think so far from the US President yesterday directed at the Israeli
Prime Minister Benjamin Netanyahu. And certainly the US has been a strong ally of Israel for years, and obviously after the Hammas attack or October the seventh, but really for the first time Joe Biden publicly castigating the Israeli Prime Minister, you know, saying that things are not going in the right direction, that they need to think about their plans, especially in the aftermath of this war, and that was
highly unusual for him to do so. So certainly not you know, the US is not calling overtly for a sea spy, that's been something they've very much danced around, but expressing concern about the situation inside Gaza and certainly
for the unresolved questions of what happens after. I mean, Israel just won't agree, they say, to a two state solution essentially involving the West Bank and Gaza, where some other countries include in the US, are potentially looking at something would involve the Palestinian authority in both places, essentially the two state solution. So certainly a lot of unknowns in the aftermath of this conflict, but the US clearly already starting to run out of patients on it.
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