News when you want it with Bloomberg News. Now, I'm Doug Prisner, and we begin in New England, where officials say the man suspected of killing two students at Brown University has been found dead in a storage facility in Salem, New Hampshire. Authorities say he took his own life. The man is also suspected of killing an MIT professor in his Boston area home. The man has been identified as Claudio Neves Valente. He is a forty eight year old
Portuguese national. He's also a former Brown graduate student. Here is Leo Foley, the US attorney in Massachusetts.
So investigators identified the vehicle that he had rented in Boston and then drove to Rhode Island, and he was seen in the vehicle, was seen outside of Brown, and there was security footage that showed a person who resembled him.
There was online there was financial investigations that were going on in the background that linked him not only to that car, but also to the hotel tells that he had rented and the cars, the car that he had used to not only drive to Rhode Island but then back to Boston.
That's Leah Foley, the US attorney in Massachusetts, TikTok assigned binding agreements to create a US joint venture majority owned by American investors. According to an internal memo reviewed by Bloomberg, CEO show Chew said agreements with Oracle, Silver Lake, and MGX have been signed. Now this US joint venture will operate as an independent entity. Here is Bloomberg's Mike Shepherd.
The idea is that it would be a copy leased from by Dance, but then retrained to some degree or another by Oracle and also walled off in a way. They would create some sort of a security firewall or barrier that would keep byte Dance from ever gaining access to US data or to the algorithm itself, out of concerns that there could be some manipulation.
That is Bloomberg's Mike Shepherd. The l Nike reported more weakness in the Chinese market as well as in its converse brand, and these negatives offset higher than expected revenue for the latest quarter. Here is Punam Goyel, senior retail analyst at Bloomberg Intelligence.
When we talk about China, I think it's going to take some time. We may not see anything in their fiscal twenty twenty six likely at twenty twenty seven to twenty twenty eight initiative on the converse side, you know, getting converse right is important, but I really think what's more important right now is getting China right. So if I had them focused on one thing right now, it would be how do you fix China?
That was Punam Goyel from Bloomberg Intelligence. Shares and Nike were down by more than ten percent in late US trading. FedEx reported adjust at EPs for the latest quarter above estimates, and the company raised the low end of its outlook for both full year profit and sales. FedEx is expecting sales to rise in the new year between five to six percent. Here is Bloomberg analyst Leek Klascow.
Obviously a bead is always better than a med, so I think that's obviously some good news. It looks like the margins came in a lot better than what expectations were, about eighty basis points better than consensus. Overall, it looks like a very good print for the company, especially giving the challenge an environment, whether it's them grounding the MD elevens or the end of the minimist exemptions. Looks like they're working through that through their restructuring.
Programs, that is Bloomberg's League Classical Now FedEx is also estimating that restructuring plan will produce a billion dollars in permanent cost reductions. In twenty twenty six, shares and FedEx were up by more than two percent in late US trading. Coinbase Global is suing three states over their attempt to regulate prediction markets. The states are Michigan, Illinois, and Connecticut. Now, state agencies and casinos want the authority over prediction markets
to rest with states and their respective gambling laws. However, Coinbase will ask for court orders affirming that the states cannot interfere with the Commodity Futures Trading Commissions exclusive jurisdiction over prediction markets granted by Congress. The European Union has agreed to provide a loan to Ukraine of ninety billion euros for the next two years now. The aim is to strengthen Kiev's hand and to keep Ukraine afloat. This
loan will be backed by the EU's budget. President Trump has signed in executive order to accelerate loosening of restrictions on marijuana, but the president did stop short of legalizing it. Currently, marijuana is labeled as a Schedule one drug, the government's most restrictive class, alongside substances such as heroin and LSD well Now, the Justice Department has been instructed to begin
the steps to shift cannabis to Schedule three. That's a tier reserved for drugs with accepted medical uses and lower potential for abuse. Here is President Trump.
The facts compel the federal government to recognize that marijuana can be legitimate in terms of medical applications when carefully administered. In some cases, this may include the use as a substitute for addictive and potentially lethal opioid painkillers.
Now, the President went on to say this move also makes it easier to conduct more research using cannabis. Also, today, President Trump signed an executive order giving federal employees days off on Christmas Eve and December twenty sixth. However, both the New York Stock Exchange and the NASDAQ will not alter their trading schedules for those days. The Department of Health and Human Services is taking actions to block access
to gender affirming care for minors. The proposal includes cutting off federal Medicaid and Medicare funding for hospitals that provide gender affirming care to children, and it would prohibit Medicare dollars from being used to fund those procedures. Here is Health in Human Services Secretary Robert F. Kennedy Junior.
So called gender affirming care has inflicted lasting physical and cyclo logical damage on vulnerable young people.
This is not medicine.
It is malpractice. HHS Secretary Robert F. Kennedy Junior. And that is news when you want it with Bloomberg News. Now, I'm Doug Chrisner, and this is Bloomberg