President Biden, Mary Daly, Bloomberg discussed on Bloomberg Daybreak

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Up 15 points now futures up 32 NASDAQ futures up 94 and the Dax in Germany's up a tenth of up percent Nathan Carrying the bond market is closed for Veterans Day but reaction is still pouring into yesterday's reading on inflation The fastest price gains in three decades but October's annual inflation rate at 6.2% the highest level since 1990 but San Francisco fed president Mary Daly says she still sees the trend as temporary Inflation is high higher It's eye popping This is a transitory period That's what we believe That's what I think When I look out at the data but it's directly related to COVID And as quicker we get through COVID the better off we're going to be as an economy Despite high inflation San Francisco fed president Mary Daly says it's too soon to judge if the Central Bank should move faster to Titan policy More of that interview coming up 15 minutes from now Well Nathan President Biden says there is a way to curb inflation The president points to his infrastructure Bill as a fix for high prices This bill is going to reduce the cost of goods to consumers businesses and get people back to work Helping us build an economy from the bottom up in the middle out President Biden plans to sign his infrastructure Bill into law on Monday but many Republicans disagree with his assessment Maryland congressman Andy Harris said their legislation will not provide immediate relief for many Americans Everybody who goes to the store everybody who buys gas they know that inflation is here I think most people believe it's actually higher than 6% and 7% especially when they go to the store and they look for gasoline And I don't think the president's Bill I don't think it's infrastructure Bill is going to do anything to make it better in the short run Marilyn Republican congressman Eddie Harris spoke with our Washington correspondent Joe Matthew on Bloomberg sound on catch the program weekdays at 5 p.m. eastern on Bloomberg radio As The White House looks detained inflation Karen it is making tangible progress on another front The U.S. and China have come to an agreement to work together on climate change the deal comes just days before a summit between President Biden and Xi Jinping We get the story from Bloomberg's Baxter This comes as a bit of a surprise as the two have been trading body blows on everything they could get their hands on and China has been bucking coal goals but the statement has the two agreeing to boost their efforts to cut emissions including tackling methane and illegal deforestation U.S. climate czar John Kerry acknowledging differences but on climate cooperation is the only way to get this job done They are scheduled to form a working group that will be regularly through the decade with the first meeting to be scheduled The first half of next year In San Francisco I'm in Baxter Bloomberg daybreak And thank you Let's turn to corporate news now where our focus starts with Tesla We've learned that Elon Musk is unloaded billions of dollars in shares and we get the latest live with Bloomberg's Renee young good morning ready to Good morning Karen filing show Elon Musk sold $5 billion of Tesla stock this week that equates to more than 4.5 million shares And those were his first sales in more than 5 years Musk offloaded the first $1.1 billion of stock on Monday to pay income taxes on equity options He made those transactions based on a pre arranged trading plan that was adopted in September Then Musk carried out the remaining sales on Tuesday and Wednesday filings show those sales were not pre planned Tesla shares are up in pre market trading Live in New York I'm ready to young Bloomberg daybreak Well vernita shares of Disney are down in pre market trading by almost 5% The world's largest entertainment company reported streaming subscriber growth at missed estimates CEO bob chapek says the company is focused on ramping up production for Disney+ We expect our total content expense to be between 8 and $9 billion in fiscal 2024 And we will now be increasing that investment further with the primary driver being more local and regional content CEO bob chapek says Disney+ likely won't return to faster subscriber growth till the first half of next year Well on the labor front Nathan Starbucks employees are one step closer to forming a union ballots on the issue in the mail and on their way to Starbucks employees and Buffalo New York Bloomberg's Charlie pellet has the story A union victory in any of the elections would create the first such labor foothold among the Seattle based coffee chains thousands of corporate run locations On Monday Starbucks asked national labor relations board members in Washington to keep the agency's buffalo office from distributing ballots Starbucks has argued that any vote should involve at least all 20 of the region's stores meaning that the union workers united would win only if it secured a majority of votes from the much larger group In New York Charlie pellet Bloomberg daybreak Thanks Charlie Thanks for looking up for the travel industry United Airlines is seeing robust demand now that flights between the U.S. and Europe have reopened That's according to CEO Scott Kirby I think business travel is going to come back a 100% We see all kinds of anecdotes in particular once people start traveling They're getting back to traveling a 100% CEO bob Kirby tells us he's also confident about staffing levels at United He predicts relatively smooth travel around the holidays As the airline industry rebounds Nathan we're seeing similar signs.

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