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"Welcome to Audioburst’s Business playlist. You’ll hear the latest news from the world of finance, delivered in bite-sized bursts of audio, curated from leading podcasts and talk radio shows. Now that’s economical
Netherlands eliminates U.S. in World Cup
"Hoping for today as they fall to the Netherlands three one in the round of 16 at the World Cup. Now for context, this year's tournament was a step forward for the American side, the U.S. had missed the World Cup altogether in 2018, and they returned this Sierra and they emerged as the youngest team to reach the knockout stage 24 year old Weston McKinney among that young core for the U.S. and as he tells Fox Sports. No,
A Central Bank That Raised Rates Early Now Talks Up Recession
"This notion that as we enter a recession uses automatically hide in long duration bonds. Because this recession is going to be caused by central banks over tightening. Versus previous recessions where central banks are expected to come to the rescue and cart rate. We're actually don't believe that developed market central banks in particular the fed is able to cut rates next year in the face of this persistent inflation and supply constraint. We believe that they are going to high and stay at those levels for an extended period of time. That was way Lee, global chief strategist at BlackRock investment institute with Bloomberg's Lisa Bromwich and Jonathan farrow.
Democrats move to make South Carolina, not Iowa, first primary voting state
"News time is 9 20. Well, the Democratic National Committee has voted to recommend changes to the primary calendar falling in line with President Biden's vision to overhaul the party's 2024 presidential primary process. And for more, we're joined on the kcbs RingCentral news line by Larry gersten Casey political analyst in San Jose state political science professor emeritus, and Larry is always thank you for your time. I look at this and we have now South Carolina leading off to bat. Is that truly representative of the Democratic Party? Well, good morning, Chris. It's certainly more representative than we've seen in the past. Look, non Hispanic whites represent about 60% of the Democratic Party. That means that people of color, whether they are AAPI, African Americans, Latinos, are represented about 40%. So when you think about Iowa, for example, in 2020 and New Hampshire, Iowa had 15% non whites in New Hampshire 13%. However, South Carolina fits right in there. It's got 39%. So if you're looking to find some sort of representation of the actual party electorate, yeah, a state like South Carolina followed by Nevada with
Negotiations begin for a global treaty on plastic pollution
"The UN is negotiating a global treaty to eliminate plastic pollution. If a deal is eventually adopted, it would be the first legally binding global treaty to combat plastic pollution. Inger Anderson is with the UN environment program. We must eliminate and substitute problematic and unnecessary plastic items, ensure that plastic products are designed to be reusable, recyclable, compostable. But the American chemistry council's Joshua baca says, this is a global problem that won't be solved with a one size fits all approach. The reason national action plans are really critical is because it helps countries address
U.S. Economy Added 263,000 Jobs in November
"11. It feels as if the economy is shedding jobs, but the numbers tell a different story. Butler reports people are making more money and there's a labor shortage in some key industries. Despite expectations the November jobs report shined. In the midst of the recession expectations, tech layoffs, housing downturns, today's job report was surprisingly strong. The economy actually added 263,000 jobs and the unemployment rate remains at 3.7%. For M California employment development director Michael bernick says it wasn't all good news. We have layoffs announced in the past couple of weeks that Amazon and Walmart Ford, but their corporate workers. The
Delta pilots would get more than 30% in pay raises under new contract deal
"Nothing to do with the allegations. After three years of talks delta and pilots have reached a four year deal that includes at least a 31% pay hike, more from Bloomberg's Denise Pellegrini. Susanna, this tentative deal would also provide one time payments to pilots. It's worth about $7.8 billion in increased value for the workers. According to the airline pilots association, the agreement though must still be approved by union leadership before going to pilots for a vote if the terms are approved they could essentially meantime set the parameters for other contracts being negotiated between pilots and American Airlines United and Southwest as well. Susanna. Bloomberg's Denny's Pellegrini. New York lawmakers want to stop potential toll increases at the state through way for the first time in more than a decade, but New York won reports those in the construction industry, as well as the through way authority itself, believe the hikes are necessary in order to shore up aging infrastructure on the 496 mile system. The through way authorities board on Monday is set to vote to set the toll increased process into motion by launching a public comment period on the issue. U.S. docs gained ground for a second week on Wall Street, the S&P 500 rose 1.1%, the Dow was up two tenths of 1% this week the NASDAQ rose 2.1%. Global news, 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Susanna Palmer. This is Bloomberg.
Tiny toad at center of a legal battle declared endangered species
"Thanks, Frank. It's 8 16, a tiny Nevada toad at the center of a legal battle over a geothermal project has officially been declared an endangered species. U.S. wildlife officials had temporarily listed in on a rarely used emergency basis last spring. Now the fish and wildlife service says that the Dixie valley toad is at risk of extinction due primarily to the approval and commencement of geothermal development happening about 100 miles east of Reno Nevada. Now other threats to the quarter sized amphibian include groundwater pumping, agriculture, climate change, disease and predators, namely the bullfrogs. It's 8 17.
What the Jobs Report Means for the Fed and Rates
"Though parts of the economy are weakening, the job market remains strong. Business reporter Jason Brooks the Central Bank is expecting higher unemployment as it hikes interest rates in an attempt to cool off the economy and inflation. Wall Street is expecting the fed to raise its benchmark rate by a half percentage point at its meeting this month after four straight 75 basis point hikes. The November jobs report was much better than economists expected. CBS News brief I'm Stacy Lynn
Pentagon debuts its new stealth bomber, the B-21 Raider
"Ten 47, The Pentagon unveiled a new stealth bomber tonight. It's the first in more than 30 years. It's a B 21 raider. Right now, 6 are being made, eventually the air force plans to have a fleet of a hundred, the aircraft can deploy nuclear weapons or conventional bombs with or without a human crew. The bomber is part of The Pentagon's answer to rising concerns over a future conflict with China. Police say they've arrested a 33 year old man on a murder charge in the deadly shooting of rapper takeoff, who they said was an interested bystander to gunfire last month outside a bowling alley in Houston. Police chief Tony finner made the announcement just hours ago. We arrested Patrick, Xavier Brown, 33 years old. He was charged with the murder of takeoff. Takeoff was the youngest member of me goes Grammy nominated rap trio from suburban Atlanta.
Biden administration will end monkeypox public health emergency
"Aside to focus on responsible governance. The Biden administration is not going to renew the emergency declaration for monkeypox. The public health emergency will expire over the next 60 days and not be renewed at the end of January. I'm Tammy trujillo. And I'm Charlie palette at Bloomberg world headquarters. A mixed Friday for the U.S. stock market that hot jobs report fueled bets, the Federal Reserve will keep tightening even if officials downshift the pace of hikes this month. Julian Emmanuel is chief equity and quantitative strategist at Evercore ISI, he says investors need to check their emotions. The fact is, is that when markets go down, that sort of forces you into thinking long term, but the truth is, is that if you look at the last 20 to 30 years, you have been paid for buying the dips every time. Those dips
Why Are Middle-Aged Men Missing From the Labor Market?
"Vicky Moore. First off, the age range of these middle aged men for the purposes of this report is 35 to 44. Hundreds of thousands of them stop working for various reasons during the pandemic and have been slow to jump back into the labor market. According to The New York Times, economists have so far been unable to pinpoint a single factor instead pointing to what they call a cocktail of changing social norms around parenthood and marriage, shifting opportunities and lingering scars from the 2008 downturn when many in this age group were just starting their careers. The most impacted seem to be those who did not graduate from college. And in jobs hit by automation and globalization, maybe doing gig work now, which isn't always tracked that well. According to data, there are some signs of a rebound from this group, but over the past year, the signs are more of just sitting things out. Vicki Moore, kcbs. Oh, say it ain't so supply chain issues are causing big problems for the girl scouts as
Senate passes bill to prevent rail strike, sending it to Biden
"At midway 46 at the lakefront. President Biden has just signed the bill to avoid a rail strike. It was passed through the house on Wednesday and the Senate yesterday it binds rail companies and workers to a proposed settlement that was reached in September. Now four of the 12 unions rejected that proposal, the looming strike, if a deal wasn't reached was going to start a week from today, a strike could cost the U.S. economy $2 billion per day. The November jobs report is out and it's a good one, 263,000 jobs were added last month, unemployment remains at a 53 year low. All this despite high inflation and the fed raising interest rates, which is expected to happen again.
Biden signs bill avoiding a rail strike during holidays
". It's one 41 President Biden has now signed bipartisan legislation that was approved by Congress this week to avoid a potentially disastrous rail strike by forcing a labor agreement between national freight railroads and their unions. Bob Cusack, editor in chief of the hill joined us earlier who explained the still unresolved issue of paid sick leave for real workers President Biden and democratic leaders were kind of an awkward position where they move forward on ratifying it without that paid leave. And that's obviously something that unions and Bernie Sanders were pushing for. But honestly, they were not going to get the votes to add that. So the only way they could avert an economic
Kanye West Suspended From Twitter After Swastika Tweet
"Is hard to even Kanye. Wow. Twitter has suspended Kanye West's account after the rapper and fashion designer tweeted an image that appeared to be the swastika inside the star of David. Twitter owner Elon Musk tweeted I tried my best to despite that. He again violated a rule against incitement to violence, account will be suspended. Suspension came on the same day that Ye appeared on a podcast posted by the InfoWars conspiracy broadcaster, Alex Jones, Jones, and he told Jones that he likes Hitler. He also yesterday parler announced that it had mutually agreed with Ye to end his deal to buy that platform,
Parler says Kanye West is no longer buying the social network
"With industry partners. Twitter suspended the account of Kanye West over violations on its policy against incitement to violence after he sent out a series of anti semitic tweets. Twitter previously suspended west in October over similar behavior. In other news, parliament technology said it mutually parted ways with west on plans to acquire its social network parlor. Parliament says the decision was made in mid November. The social network hive announced it was taking its servers offline for a couple of days to address stability and security issues. I have is currently hiring two developer positions which would increase its staff to 5. Mozilla acquired the startup act of replica, which previously worked on building a platform for virtual events and meetings on top of Mozilla's hub project, its VR chat room. The team will support Brazil's work on hubs, working to improve the onboarding experience and introducing new interaction capabilities.
US hiring stayed strong in November as employers add 263,000 jobs
"The jobs market stayed strong last month, despite high inflation and an economy that's growing slowly. Employers added 263,000 jobs last month, down slightly from October, but all told it represents a substantial jump, given the Federal Reserve's aggressive interest rate hikes as it tries to stem decades high inflation. As employers keep hiring, paychecks keep going up, and the combination of more jobs and higher wages could complicate the fed's inflation fight. Job openings exceed available workers by about 4 million that is about 1.7 job openings for every person looking for work. Chair Jerome Powell told the brookings institution this week a robust jobs market is a key inflation driver. He'd like to see slower job growth and more modest wage gains. Sagar Meghani, Washington
Congress votes to avert rail strike amid dire warnings
"Money minute, the threat of a crippling rail strike has been averted now that the Senate has voted to impose a labor agreement that was rejected by workers in four of 12 unions, the Senate sent the legislation to president Joe Biden for his signature ahead of next week's rail strike deadline. Uber employees are getting some good news, the CEO says the company won't cut jobs despite rising layoffs in the tech industry. Uber laid off more than 6000 employees back in 2020 to cut costs. Rival lift said last month, it would reduce its corporate headcount by 13%. Its jobs Friday economists surveyed by Bloomberg are expecting payrolls to have gone up by around 200,000. The unemployment rate expected to remain unchanged at 3.7%. The fed will be paying close attention to this as it gauges the future path for rate hikes to battle inflation. In the meantime, the stock futures are a little bit lower on this Friday. Gina survey, Bloomberg radio.
Appeals court shuts down special master in Trump Mar-a-Lago documents case
", staffing shortages and retention levels. And appeals court has ended the outside review that's been holding up the Justice Department's investigation into those classified documents found at Mar-a-Lago, Leo the laws Jessica Levinson. It just scraps the foundation of Trump's argument in this case that he was entitled to a special master and that he should be granted that special master from this district court judge. Mister Trump can appeal the decision to the Supreme Court. This is the last day of early voting in Georgia's contentious Senate runoff and turnout's been extremely high incumbent Democrat Raphael Warnock trying to win over those who have not yet voted at a rally with former president Obama in Atlanta. Let's win the future for all of our children. Ricky weeks attended a rally for Republican Herschel Walker. The swap in Washington needs to be cleaned up and I believe he along with some of the other senators that were elected are going to do that. Officials in LA believe ten students ODed on pot edibles during class at van nuys middle school in Sherman oaks, lieutenant Nina barana samadhi with the city's school police department. We received reports of
Airbnb urged to require carbon monoxide devices after 3 die
"Three people who allegedly died last year of carbon monoxide poisoning while on vacation in Mexico are suing Airbnb. The family say they want short term rental companies to require detectors and properties that it lists to prevent future tragedies. They say it wouldn't be a stretch for Airbnb, which already has created bans on parties weapons and cameras in their rentals. Airbnb said it's also working with Mexican Mexican officials to promote safety practices among its hosts. Apple stock is down 20% this year, but Jeff clay boss says the company makes more profits in a minute than many people earn all year. Apple is the world's most profitable company, accounting software firm to faulty did the math, apple makes a profit of $1800 per second and $108,000 per minute. Not all tech is profitable. Last year, Uber reported losses that broke down to $215 every second.
SpaceX Gets Go-Ahead for Smaller Network of Starlink Satellites
"Constellation of SpaceX Starlink satellites orbiting earth is about to get a lot bigger. The FCC has approved the company's plans to launch 7500 next generation satellites to serve the U.S. market. NBC's peacock is adding more sports to its lineup. The streaming service plans to begin offering NBC's regional sports networks by the end of the year, those channels have struggled as a growing number of people cut the cable TV cord. From the Bloomberg newsroom, I'm Laurie kofsky, on WTO. At first glance, terrance and
Branden Carlson, Utah race past No. 4 Arizona 81-66
"Brandon Carlson led unranked Utah to an 81 66 win over number four Arizona. I had to come out ready to go come out play physical. My team did that same thing as well. We were just prepared. Carlson went 5 for 9 from three point range and finished with 22 points as the U.S. handed the wildcats their first loss of the season. Roly Worcester chipped in 12 points, 11 rebounds and 9 assists for the 6 and two youths. Arizona never led and was down 39 20 in the first half. When the wildcats shot 27%, Umar bolo topped the cats with 22 points and 7 rebounds. I'm Dave ferry.
Consumer Spending Jumped in October as Inflation Eased
"Continued to spend in October, the government says spending rose 8 tenths of a percent faster than the rise in incomes and inflation gauge tied to consumer spending slowed, a sign that the feds interest rate hikes are working. Rapper Kanye West, who now goes by Ye will not be buying the social media site parlor, in a statement the company said the decision to scrap the deal was made in the interest of both parties. Bloomberg radio.
Molten lava on Hawaii's Big Island could block main highway
"Is WTO P news. It's 9 22, Hawaii's erupting mauna loa volcano is showing no sign of letting up and lava from that volcano is also threatening the main highway that links the east and west coasts of Hawaii's big island. Mauna loa continues her fury, two active vents, are shooting fountains of lava into the air and feeding glowing rivers of molten rock down the mountainside. I weave my whole life to see this. The rare event caused thousands of spectators to jam pack the DK highway, which became an impromptu viewing point. At CBS News correspondent Jonathan vigliotti. The Maryland attorney general's office is suing the saint Mary's county sewer authority over continued sewage spills. Brian frosh is requesting a financial penalty and a court order requiring system upgrades there. The AG says releasing raw sewage could not be more dangerous, we will hold them accountable last year once sewage spill in the county contaminated oysters harvested from the saint Mary's river, which then sickened at least two dozen people. The sewer commission told the public almost right away, but the Maryland department of the environment did not close the river to harvesters until after the illnesses were reported. The spills have been a continuing issue for at least 5 years. A
Amazon CEO says company won't take down antisemitic film
"Amazon CEO Andy jassy says his company does not have plans to stop selling the anti semitic film that gained notoriety after Brooklyn Nets guard, Kyrie Irving tweeted out a link to it. Pressure has been mounting on Amazon to discontinue sale at that film. Jassy tells The New York Times, it's difficult for the company to determine what content is so extreme that it shouldn't be available to customers. Amazon had said it would look into adding a disclaimer on the documentary's main page, but that hasn't happened. Irving was suspended and returned
Senate Votes 80-15 to Pass Measure Blocking Rail Strike
", a crucial vote to avoid a nationwide rail strike has passed in the Senate. On this vote, the yeas are 80, the nays are 15, one senator responded present. Under the previous order requiring 60 votes for the passage of this joint resolution, the joint resolution is passed. The legislation now goes to President Biden for his signature, but it's important to note that senators did not agree to a measure giving railroad workers paid sick time. Mister Biden commented ahead of the vote at The White House. What was negotiated with so much better than anything they ever had
Kroger Says Food Inflation Beginning to Ease
"Biggest increases over the past year. The price of eggs, for example, has gone up 43% flour is up 25%. Dairy and bakery products are up 16%. It's really food inflation that has become the most salient for households. And I think that's why inflation overall has just been so challenging. And then there's travel with airline prices up 43% and gasoline up about 18%. Nikki and Ellie
Applications for jobless benefits decline last week
"Department says the number of people receiving ongoing unemployment benefits rose to 1.6 million last week. That's the highest level since February, new benefit applications slipped back last week to 225,000. Separate reading from HR firm challenger gray and Christmas finds that the number of announced layoffs more than quadrupled in November versus last year to almost 77,000 with tech, the most affected industry. Stock indexes, stepping back, now losing a percent, NASDAQ and S&P 500 each down about a third of a percent. If you ever wanted to own a Rolex, but figured there's no way you could justify the price of a new one. There's a new alternative. Rolex is launching a program in which it will certify pre owned watches. It will issue certificates of authenticity for use timepieces offered by authorized dealers, helping ensure buyers get what they actually pay for, and enabling them to someday resell their Rolexes. Andrew rode a, Bloomberg radio. What is dedication? The thing that drives me every day is a day is very un we call them day to day for short. Every day he's hungry for something, whether it's attention, affection, knowledge
Senate approves bill enforcing railroad labor agreement before strike deadline, sends to Biden
"Up next on squawk pod, railroad unions, the 7 major freight carriers, and over 100,000 railway workers with no guaranteed paid sick leave. Legislation could save us from a national strike and transportation secretary Pete Buttigieg says it's pass or bust. If this were to happen if the shutdown were to happen, then later on looking back at the early part of the 21st century, you would say there was COVID, then there was this rail shutdown, and then 9 11. In that order, in terms of how severe and complex the implications for transportation were. We'll be right back. CNBC invites you to get Jim Cramer's guide to investing for free. 25 actionable rules to help you invest smarter and build long-term wealth. Get it now at CNBC dot com slash Kramer. That's CNBC dot com slash Kramer.
FDA pulls Covid antibody treatment because it's not effective against dominant omicron variants
"COVID-19 antibody treatment is no longer authorized for use. The Food and Drug Administration says the treatment from drug maker Eli Lilly is not likely to be effective now against the omicron variants that are dominant in the U.S.. The BQ one and BQ one one sub variants now cause more than half of new COVID cases in the U.S., but the FDA says the COVID drug from lily doesn't work against those. More Chinese cities have started easing anti virus restrictions and in the south and other places, easing controls on movement and reopening factories and markets. They're also restarting bus service in certain parts. Last weekend protesters in Shanghai, Beijing and at least 6 other cities demanded an end to the controls that still confined millions to their homes. The timing of the easing of
An inflation gauge tracked by the Fed slows to still-high 6%
"A government report shows one measure of inflation eased last month, but is still at a high level. It's called the personal consumption expenditures index and it shows consumer prices rose 6% in October from a year earlier, down from 6.3% a month earlier, but still elevated. The Federal Reserve closely monitors the index, and the number likely reinforces its intent to keep boosting interest rates as it tries to cool the economy and ease the worst inflation in decades. We need to raise interest rates to a level that is sufficiently restrictive to return inflation to 2%. But fed chair Jerome Powell told the brookings institution yesterday the Central Bank could slow the hikes when it meets in two weeks. Sagar Meghani, Washington.
Delta is making it harder to get into its airport lounges after they were flooded by travelers
"Money news at 25 and 55 will Delta Air Lines is making it harder to get into its sky club airport lounges, those are the spaces that offer flyers and escape from the traveling masses with complimentary food, drinks, workspaces, comfortable seating, and couches. Sometimes even showers. Starting early next year, membership packages for delta's lounges will only be available to members of the airline's SkyMiles frequent flyer program who have status, one of the so called medallion tears. So called quiet quitting has been getting a lot of attention this year. Jeff clay ball says now, so is what's called a quiet promotion. A quiet promotion is getting new duties without getting any more pay. The most common signs are an increased workload above your position, more work than colleagues with the same title and
Dow jumps over 700 points, Nasdaq ends up 4% as investors cheer Powell's remarks
"A softening in China's COVID stance and remarks from fed chair Jay Powell confirming the pace of interest rate hikes is set to slow. We check the markets every 15 minutes during the trading day on Bloomberg. S&P futures right now are down two points. Staff features down 50, NASDAQ futures are lower by 25 points, ten year treasury is down two 30 seconds yield 3.61%, yield on the two year 4.32%. And I make screwed is up 6 tenths percent or 49 cents at $81 four cents a barrel. Comex gold is up 1.8% of 31 ten, 1791 even and outs. The Euro 1.0428 against the dollar British pound 1.2146, the yen, one 36.46,
House votes to avert rail strike, impose deal on unions
"15% from last year's total. Lawmakers in the house have voted to avert a railroad strike imposing a compromise labor deal on unions and rail companies. Now it's up to the Senate members of the Biden administration are meeting with senators today on the timing of a vote. Rail workers have threatened to strike over lack of paid sick leave, but doing so could hurt supply chains. Later today we'll get the October reading of the Federal Reserve's preferred inflation gauge. The personal consumption expenditures price index gained three tenths percent in September. We're
EU Asks Members to Set Russia Oil-Price Cap at $60
"Sources tell Bloomberg that the EU is discussing capping the price of Russian crude oil at $60 a barrel in order to secure an agreement among the blocks wider membership you talks on the level at which the cap, the cap would be placed on Russian oil have been stocked since last week. It's not clear whether all countries are open to the price level, but most are if other demands are mashed discussions are ongoing. Global news 24 hours a day on air on Bloomberg quick take part by more than 2700 journalists and analysts in more than a 120 countries. I'm Stephen Carroll. This is Bloomberg, Caroline. Stephen, thank you so much for our top stories. All right, let's go back then to the UK housing
Dow 'exits' bear-market territory. Here’s why investors should remain cautious
"There is some bemusement out there in the market among some investors and traders about just why you had such an extraordinary rally in bonds and stocks and in currencies against the U.S. dollar. Yeah, absolutely. There was some befuddlement, I suppose, about the market reaction. So what is the data show us then, the fed's beige book and also the jolts of job openings in October is the data sending us a different message. Well, the data has been showing that there's some moderation that there's some potential, but it's also showing that things are still pretty tight. A 3.7% unemployment rate for the U.S. is still among the lower rates that we've had in a very long time. There are strong wages growth