9 Burst results for "Alexander Rodney"
WCPT 820
"alexander rodney" Discussed on WCPT 820
"The respective companies. This is AP news. I'm Rita foley. Both sides are talking about the dangers of the nation defaulting on its debt. But things are looking up, says the AP's Washington correspondent Sagar Meghani. President Biden and House speaker Kevin McCarthy have named a top emissaries to negotiate a deal to avoid that national debt default. It's an encouraging new phase of the debt limit talks. The president says he, McCarthy, and other top congressional leaders had a productive Oval Office session. We'll speak regularly over the next several days in the staff's going to continue the meeting daily. McCarthy says the key is who is talking. The president changed the scope of who's all negotiating. The naming of top allies to hammer out the details signals the talks are now largely confined to what both sides will accept in order to raise the borrowing limit. McCarthy says the two sides are far apart for now, but thanks a deal can be struck by the weekend. Washington. Russia is seeking to arrest two men who criticized the war in Ukraine. The AP's Charles De Ledesma. A Moscow court has ordered the arrests of prominent filmmaker Alexander Rodney and theater director Ivan FireWire for spreading false information about the Russian army, according to the court's press service, the two men who are outside Russia will be placed in custody once Russian authorities managed to detain them or get them extradited. I'm Charles De Ledesma. Dangerous heavy rains this morning in a drought stricken region of northern Italy killed at least 6 people and forced thousands to evacuate. Officials are warning Italy needs a national plan to combat flooding, fueled by climate change. It's becoming the law in North Carolina, legislation banning most abortions after 12 weeks of pregnancy. The General Assembly overrode the governor's veto. This is AP news. Now to Elizabeth Holmes, the AP's Julie Walker. Disgrace, theranos CEO, Elizabeth Holmes, loses her bid to avoid prison and gets hit with a $452 million restitution Bill. 39 year old Elizabeth Holmes had been sentenced to 11 years in prison after her conviction in a blood testing hoax and appeals court Tuesday rejected her bid to remain free while she tries to overturn it in another ruling she and a previous partner who was also convicted were ordered to compensate the victims of their crimes. Holmes was 19 when she founded her company and raised nearly a $1 billion from investors including Oracle cofounder Larry Ellison and media mogul Rupert Murdoch, who all lost their money after flaws in theranos technology came to light when Holmes reports to prison, she will leave behind a one year old and a three month old. I'm Julie Walker. And I'm Rita foley, AP news. This is 8 20 a.m. W CPT willow springs and streaming worldwide. 8 20 dot com. We are Chicago's progressive talk, where facts matter. Now, UW CPG 8 20, weather updates. From the weather ology whether center, I'm meteorologist Jennifer we cheat ski, mostly sunny skies here this afternoon we'll see high in the mid 60s. Wins out of the northeastern ten to 15 mph gusting as high as 20 tonight partly body ammonia 45. By Thursday, sunshine high of 76°, Friday a chance for showers and thunderstorms, cloudy high of 72. Saturday plenty of blue skies and sun and we'll see high around 69°. That's your latest Chicago weather update. Currently, it's 52. This is
AP News Radio
Russia orders arrest of prominent producer, director who criticized Ukraine war
"A Moscow court has ordered the arrests of prominent filmmaker Alexander Rodney and theater director Ivan fyre, for spreading false information about the Russian army. The initial court hearings against Rodney and thyroid were held on April 27th, but not reported by the court until this week, according to the court's press service, the two men who are outside Russia will be placed in custody once Russian authorities managed to detain them or get them extradited. Keith born Rodney left Russia after the start of the country's full scale invasion of Ukraine in February 2022 and has repeatedly spoken openly against the war in October 2022, Russia's justice ministry declared rough landscape of foreign agent. I'm Charles De Ledesma
WCPT 820
"alexander rodney" Discussed on WCPT 820
"Southern Colorado. I'm Donna water. Stand off at a home in Kansas City after three police officers were shot and wounded while executing a search warrant. Police chief Stacey graves says the officers announced themselves and then the shooting started. So obviously whoever was shooting at them, I would, I would assume that they knew that they were policed because they knocked an announced. And when I say not going to announce, I mean, knocked on the door, police. That's when you announced that you were the police. All the officers are expected to recover, nobody immediately taken into custody. The police chief was heard there on Kay MBC TV in Kansas City. No second term for Chicago mayor Lori Lightfoot, voters have decided the candidates Paul valles and Brandon Johnson will meet in a runoff in April. Lightfoot says she put the city on a right path, though. This is a pin used. The latest on Ukraine now, the AP's Charles De Ledesma. A Ukraine official says frontline troops may pull back from back mud and advise her to the president, so Ukraine's military could retreat from the key eastern stronghold of back mud amid a relentless Russian offensive that sought for months to capture the city, Alexander Rodney sky, says a military is obviously going to weigh up all the options. So far, they've held the city. But if need be, they will strategically pull back. I mean, not to go to sacrifice all of our people just for nothing. The battle for Batman in Ukraine's eastern done X region has become a symbol of Ukrainian resistance with Russian troops taking heavy casualties in a months long campaign to capture it. I'm Charles De Ledesma. Gas is three 35 a gallon this morning, four cents cheaper than a week ago, says the triple-A, 5 cents less than a month ago, a year ago gas was 360 one a gallon. I'm Rita foley, AP news. This is 8 20 a.m. W CPT willow springs and streaming worldwide. 8 20 dot com. We are Chicago's progressive talk, where facts matter. Now your W CT 8 20 weather updates. And the weather ology, weather center, I'm meteorologist, Michael Carroll. For today, we'll see gradually decreasing clouds with high temperatures working up into the upper 50s, then for its night, mostly cloud a low 34. Cloudy conditions into your Thursday with upper 30s for high temperatures, then a mixture of rain and snow likely on Friday with highs up to 37, but drying out once again for the weekend, Saturday partly sunny up to 40, and that's your latest Chicago weather update. Right now it's 38. 30
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"Morning Samuel Morning Carolina the Bank of England has issued its bleakest outlook of any major Central Bank this year The BOE is warning the UK's bracing for double digit inflation and a prolonged period of stagnation or even recession The central banks gloomy forecast along with a hike in interest rates to the highest since 2009 sent the pound to the lowest in almost two years Let's hear from the Bank of England governor Andrew Bailey speaking to Bloomberg on the market turmoil We think there are risks on the upside to inflation But we also think that the core story here is a big real income shock to the country And that we think is going to slow the economy down It's going to slow demand and economy down And we're probably already seeing some signs of that Meanwhile ECB governing council member Robert holtzman says a rate hike will be discussed and probably agreed at the bank's June meeting The Austrian Central Bank chief is the most hawkish member of the ECB's rate setting body and has repeatedly called for the institution to start normalizing policy Board member Fabio Panetta however warns the region's economy is de facto stagnating And over in the U.S. former vice chairman Richard clarida says the Federal Reserve will need to raise short term interest rates to at least 3.5% to bring surging inflation under control The story from Bloomberg's Charlie pellet clarita's remarks came in a speech to a Hoover institute conference he said the funds rate will ultimately need to be raised well into restrictive territory by at least a percentage point above the estimated nominal neutral rate of two and a half percent Clarita left the fed in January on Wednesday the fed raised its target range for the federal funds rate by a half percentage point It also said ongoing increases are likely and it announced a plan to start reducing its big balance sheet next month In New York Charlie pellet Bloomberg daybreak Europe Elsewhere we get job numbers out of the U.S. later The unemployment rate probably fell to 3.5% in April matching the lowest reading since the 1960s Many economists expect it to keep declining potentially complicating the Federal Reserve's fight against inflation And a rescue effort is underway to get more civilians out of the Ukrainian port city of Mario pont a key target for Russia Alexander Rodney ansky an adviser to president Vladimir zelensky says Russian forces are not allowing them to get to safety Prevented us from the risking or people They're shooting at civilians coming out or shooting in the vicinity of civilians when they are trying to come out And so thereby they basically undermining the whole effort to rescue them However the United Nations says a safe passage operation is in progress but it won't confirm whether that involves people trapped at a besieged steelworks and Canada would support Sweden if it applies for need to membership and will urge a quick process of ratification to help guard against any potential Russian retaliation That's global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries I'm Samuel Etienne and this is Bloomberg Caroline Thank you so much Samuel Well at the Bank of England you mentioned it hiked interest rates by 25 basis points to 1% yesterday as expected The fourth straight rise though three out of 9 members on the monetary policy committee voted for a half point increase the bank did also say that it sees inflation hitting double digit in October and GDP shrinking in 2023 Joining us now to discuss further is our UK economy reporter Lizzie burden Oh I think everybody was sort of sideswiped by just how bad the outlook was really from the Bank of England On the one hand they're adding to consumers paying with the rate hike on the other Why are they not doing more a bit in the mold of the fed in order to curb inflation Well this is the Bank of England dilemma Caroline They needed to act a curb the second round inflation effects of the energy crisis But the majority didn't want to do it too aggressively because of the pressure it had put on demand and you've already had this raft of gloomy data about the impact of the war in Ukraine on demand You've had the PMI consumer confidence retail sales So the MPC judges that inflation will do more harm than a rate rise even the resolution foundation agrees with that And that's why the committee settled on this dovish hike But also and we wrote about this in March part of the bank's strategy is that officials see inflation being its own medicine broadband one of the deputy governors put it yesterday It's so high inflation that it will start to pay itself by weighing on demand and that is pretty bleak But the comparisons to the 1970s that were put to the governor and the deputy governors yesterday were just battered away Even though when you're having to depress grew to tackle inflation looks a lot like stagflation whether they like it or not Lizzie just briefly we're running short of time unfortunately the recession risks Yes well the bank now forecasts that if rates rise to 2.5% by the middle of next year as markets expect then the economy will shrink in 2023 and stagnate in 2024 So it's not a technical recession in terms of two consecutive quarters of growth The governor is keen to stress that but it will still lead to 600,000 job losses That's agree we are outlook that any of the major of Central Bank and it puts the pressure back on where she's doing at the Chancellor to do more Absolutely Lizzie thank you so much for being with us Our Bloomberg UK economy reporter Lizzie burden Well how will conservatives respond of course the local elections that we are getting results from now are going to perhaps play into that in terms of how much firepower the conservatives want to use to help consumers Yeah they've taken a bit of a hit in terms of these local elections labor gaming some seats as have the liberal Democrats and the Green Party indeed We'll get more on that We're going to get the Bloomberg opinion call us or the hour.
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"Stephen good morning and thank you Now the Bank of England has issued the bleakest outlook of any major Central Bank this year The BOE is mourning the UK's bracing for double digit inflation and a prolonged period of stagnation or even recession The central banks gloomy forecast along with the hike in interest rates to the highest since 2009 sent the pound to the lowest in almost two years Let's hear from the Bank of England governor Andrew Bailey speaking to Bloomberg on the market turmoil We think there are risks on the upside to inflation But we also think that the core story here is a big real income shock to the country And that we think is going to slow the economy down It's going to slow demand and economy down And we're probably already seeing some signs of that Meanwhile ECB governing councillor member Robert holtzman says a rate hike will be discussed and probably actually agreed at the bank's June meeting The Austrian Central Bank chief is the most hawkish member of the ECB's rate setting body and has repeatedly called for the institution to start normalizing policy Board member Fabio Panetta However warns the region's economy is de facto stagnating Now over in the U.S. former vice chairman Richard clarida said the Federal Reserve will need to raise short term interest rates to at least 3.5% to bring surging inflation under control Now we've got the story from Bloomberg's Charlie pellet Clarita's remarks came in a speech to a Hoover institute conference He said the funds rate will ultimately need to be raised well into restrictive territory by at least a percentage point above the estimated nominal neutral rate of two and a half percent Clara left the fed in January on Wednesday the fed raised its target range for the federal funds rate by a half percentage point It also said ongoing increases are likely and it announced a plan to start reducing its big balance sheet next month In New York Charlie pellet Bloomberg daybreak Europe Elsewhere we get jobs numbers later the U.S. unemployment rate probably fell to 3.5% in April matching the lowest reading since the 1960s many economists expected to keep declining potentially complicating the federal reserves of fight against inflation And in Ukraine where rescue efforts underway to get more civilians under the Ukrainian port city of mariupol a key target for Russia Alexander Rodney Skye and adviser to president of Vladimir zelensky says Russian forces are not allowing them to get to safety Prevented us from the risking or people They're shooting at civilians coming out or shooting in the vicinity of civilians when they are trying to come out And so thereby they basically undermining the whole effort to rescue them However the United Nations says a safe passage operation is now in progress but it won't confirm whether that involves people trapped at the besieged steelworks and Canada would support Sweden if it applies for NATO membership in more urge a quick process of ratification to help guard against any potential Russian retaliation 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 and neon garands this is Bloomberg Stephen Leigh Anne thank you Now we're going to a top earnings interview here on Bloomberg Uber saying that it increased its new drivers by a 121% in April and the company would love to partner with black cabs in London who were CEO Dara Korra shahi spoke to Bloomberg about the labor market the impact of fuel prices and the future of crypto with Uber Let's hear more from that interview now I'm Bloomberg television Well the investor reaction itself in terms of the fundamentals has been incredibly positive We over performed street expectations significantly in terms of gross bookings coming at 26.4 billion up 39% on a constant currency basis profitability EBITDA 168 million well above analyst estimates And then guidance some companies have been announcing good results in weak guidance We announced great results and very strong dines above street expectations So the reaction to the fundamentals has been spectacular but we are being pulled down with the market downdraft along with many many other players We're focused on what we can control Can we build a great service And can we ride the reopening both in terms of gross bookings growth profit growth ultimately free cash flow growth and the answer based on our results and based on what we see going forward is a resounding yes Do you think investors are unfairly putting Lyft and Uber in the same boat I mean we saw Lyft lose almost a third of its value yesterday Yeah so I think the reaction to lift was significantly more negative than Uber So maybe we're not in the same boat but it definitely affected us And I do think we're just in completely different places You see with Uber is the benefit of scale the benefit of globalization the benefit of diversification and the benefit of discipline in these markets And we are by far the number one player in the U.S. have been for some period of time So when earners look to come back to the marketplace and start earning in a flexible way they're coming to Uber first And that's a real advantage when they come to Uber They're busy all the time Not only driving people around but also delivering or shopping et cetera The opportunities to earn on the platform are greater than ever And Anna reopening scenario a lot of advantage comes to the number one player And the number two player in this case left maybe having a hard time From a globalization standpoint everyone knows that the reopening outside of the U.S. has happened much faster So we have been dealing with reopening dynamics bringing drivers back onto the platform We made big investments last year for some period of time We've been used to this We built muscles to do it and we're much more diversified so that we can lean into the West Coast which is reopening fast while the east coast has lots of profitability UK all over the world We have lots of profits to pull from so that we can lean into reopenings but we're not too dependent on one place We're just a very different global player And then from a different standpoint we've had delivery be a very very big part of our business And as with reopening delivery growth rates while they're healthy 15% they're not growing quite as fast so we're able to take careers who used to be drivers a bunch of our courage used to be drivers They're not driving people because of safety concerns Now the COVID safety concerns are largely behind us We can bring them back to drive or we can hire or we can bring earners onto the platform both to deliver things and to drive people We just have a very fundamental business advantage over any monologue player out there Okay so that was Uber CEO do Acosta shahi speaking to Bloomberg I love that fact that he was talking about teaming up and tried to do some deal with black cabs in London but how Lyft is a year behind in his estimation of where Uber is So that's one of our key top interviews for you this morning We'll also hear from the ING CFO after their earnings he's speaking to Bloomberg at this morning And we have a number of other earnings.
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"Gary good morning Leanne Caroline good morning and thank you The Bank of England has issued the bleakest outlook of any major Central Bank this year the BOE is warning the UK's bracing for double digit inflation and a prolonged period of stagnation or even recession The Central Bank's gloomy forecast along with the hike in interest rates to the highest since 2009 did send the pound to the lowest level in almost two years Meanwhile ECB governing council member Robert holtzman says a rate hike will be discussed and probably agreed at the bank's June meeting The Austrian Central Bank chief is the most hawkish member of the ECB's raid setting body and has repeatedly called for the institution to start a normalising policy Board member Fabio Panetta however warns the region the economy is de facto is stagnating Now over in the U.S. former vice chairman Richard clarida says a Federal Reserve will need to raise short term interest rates to at least 3.5% to bring surging inflation under control Now we get the story from Bloomberg's Charlie pellet Clarita's remarks came in a speech to a Hoover institute conference He said the funds rate will ultimately need to be raised well into restrictive territory by at least a percentage point above the estimated nominal neutral rate of two and a half percent Clarita left the fed in January on Wednesday the fed raised its target range for the federal funds rate by a half percentage point It also said ongoing increases are likely and it announced a plan to start reducing its big balance sheet next month In New York Charlie palette Bloomberg daybreak Europe Now to the war in Ukraine and a rescue efforts underway to get more civilians out of the Ukrainian port city of Mario pole This is a key target for Russia Alexander Rodney netsky an adviser to president Vladimir zelensky says Russian forces are not allowing them to get to safety Prevented us from rescuing our people They're shooting at civilians coming out or shooting in the vicinity of civilians when they are trying to come out And so thereby they basically undermining the whole effort to rescue them However the United Nations says a safe passage operation is now in progress but it won't confirm whether that involves people trapped at the besieged steelworks and finally right here in the UK labor's taking control of a council the conservatives have held for the last 44 years as counting does continue in the local elections Ones were being seen as a significant win though key Astana's party is not collected as many seats as he would have hoped elsewhere yet the Lib Dems and the greens have taken seats from both labor and the conservatives 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 Leigh Anne guerins this is Bloomberg Caroline Thank you so much Leon karens with today's top stories So we've mentioned the pound has slumped more than 2% at yesterday against the U.S. dollar after the Bank of England raised interest rates Traders focused on the Bank of England's projections though of inflation which looked pretty dismal They expect inflation to climb above 10% in October at the Bank of England's forecasting also the potential for a big slowdown even a recession in 2023 Now speaking of Bloomberg TV's guy Johnson the Bank of England governor Andrew Bailey said that the market reaction was within his range of potential outcomes I wouldn't agree with the statement of the cure for higher inflation as high inflation But I just want to go one step behind that because I think it's important We think that a lot of the work in terms of the cure is going to be done by the fact that we are experiencing a historically large shock to real incomes in this country coming from outside the country So it's in terms of trade shock in that sense import prices are rising And that's predominantly energy food and some cool goods So I just wanted that high inflation cures high inflation Now of course it doesn't in a sort of what you might call a sort of standard demand shock where both activity and inflation are going up But what we've got is inflation going up and this big push down on real incomes And it's the real income push that is the thing that we think will do a lot of work to lower inflation But here's the complication There are risks the other way And one of the big risks the other way is the labor market We've got a very very tight labor market in this country Now of course it's a good story in many ways for broader society and economy because we're come through COVID There were a lot of predictions including some bias at some times that we were going to have quite a big rise of unemployment And in the end it didn't happen Why are you so convinced that wages are not going to rise to meet the inflationary push that we're seeing I hear what you're saying about the cost of living crisis But nevertheless there is a risk that we see wages going high You talked about this in the press conference There seems to be a gap between the bank and business I talked to CEOs all the time What they tell me is they are really struggling to hire they are as a result of which having to raise wages to compensate for that And as a result of which while at the moment wages are below where inflation is inflation is going to come down but the labor market may stay tight and we end up with a situation where actually that spiral starts to bite That's why we think there are risks on the upside to inflation But we also think that the core story here is a big real income shock to the country national real income shock which will push down both on household income and company a customer and corporate margins as well And that we think is going to slow the economy down It's going to slow demand in the economy And we're probably already seeing some signs of that Look at the gap between consumer confidence and business confidence in its country which is quite large at the moment We had a and I never advocate put in too much weight on one number but we had quite a weak retail sales number over a couple of weeks ago So we are seeing some signs of things we're going to happen And we think unfortunately the shot to real income has to come through I mean there's no way it can't go anywhere else unfortunately And that will affect But you're right I mean I go around the country a lot At the moment and this backs up the business confidence story firms are saying my problem is I can't hire enough people Okay That was Andrew Bailey the governor of course of the Bank of England speaking to Bloomberg's guy Johnson after his press conference and of course that decision to hike rates by 25 basis points to 1% yesterday just to recap That was its fourth straight rise though three of the 9 member monetary policy committee voted for a half point increase to a bigger ingress than what actually came through the bank also said it seems inflation hitting double digits as they were discussed in October and GDP shrinking in 2023 Joining us now is our UK economy reporter Lizzie burden to work through what we've been hearing from Andrew Bailey and the team at the Bank of.
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"On the Euro up by three tenths of 1% a pound is up by tenth of a percent at one 31 O 9 That's a quick look at where we are on the data this morning Let us get to some of our top stories and we start with an update on what's going on in Ukraine here's Bloomberg's Hannah George Good morning Anna and thank you while the U.S. says Ukraine's capital key remains under threat even after Russia promised to scale back military operations there President Biden said he'll wait and see whether Russia delivers on its pledge made after peace talks in Istanbul yesterday I had a meeting with the heads of state of a four allies in NATO France Germany the United States and Great Britain And there seems to be a consensus that let's just see what they have to offer Meanwhile Ukraine's president volodymyr zelensky has also cautiously welcomed progress in peace talks but thinks Russia still can't be trusted Speaking to Bloomberg adviser to the president of Ukraine Alexander Rodney he says Russian sanctions need to be bolstered We have now seen finally foolproof of the fact that this regime is in threat to economic prosperity and peace in Europe And then it's in a long-term interest to make sure that Russia somehow by itself transitions to a more democratic equilibrium away from authoritarian equilibrium in which it has found itself So that needs to be the medium term objective and certain sanctions will have to remain an effect will have to be intensified for that to be achieved The negotiations didn't result in a ceasefire agreement though Kyiv had said it is willing to discuss the status of occupied Crimea while Russia indicated a meeting was possible between the two countries presidents Here in the UK we're debating delaying for a fourth time planned checks on imports from the EU That's as the government seeks to avoid adding fresh costs to businesses and consumers amid a spiraling cost of living crisis Sources say Brexit opportunities minister Jacob riis mog is among those urging the prime minister Boris Johnson to further delay the grace period which is due to end in July And hackers have stolen about $600 million from a blockchain system connected to the popular axie infinity online game Ronin network says thieves took ifer and USD C tokens a week ago though the breach was only discovered yesterday The stolen funds reportedly went to two cryptocurrency exchanges in what is one of the biggest crypto heists to date Global news 24 hours a day on air and on Bloomberg quicktake Powered by more than 2700 journalists and analysts in more than a 120 countries I'm Hannah George this is Bloomberg Anna Thank you very much for that Hannah Now let's get more detail on that story You were just mentioning around the big crypto heist Joining us down the line is Bloomberg crypto reporter Emily Nicole Emily nice to speak to you So tell us more about this then how did the hackers gain access to these tokens Yeah so the Vernon bridge is a platform that allows people to convert their crypto tokens into ones that can be used on another network And that's exactly what happened here In the past when these kinds of hacks have occurred there's been a software vulnerabilities somewhere that are hackers can exploit And in this case while there's certainly worse than software frozen involved it was a much more simple process of the hacker gaining access to the right number of keys to the kingdom in order to gain access to the funds sitting on that bridge So what happened with this hack is that it relates to a mobile game that is based on blockchain where users can earn crypto for playing it called axie infinity that relies on their own in bridge to support getting crypto on and off the platform There are 9 sets of keys that operate that bridge and only 5 in the game control and that's exactly what the hacker got access to here Okay so that's how they got access What does this mean then for users of axie infinity Because this is the this is the game that is linked to this story which I understand is something to do with digital pets I remember Emily this was a big deal I mean decades ago online pets but tell me about axie infinity Yeah so actually infinity is one of the games out there at the moment and certainly one of the most popular way users can play the game a little bit like a version of Pokémon go I think is how it works I've never played it myself And in exchange for playing it it helps to run blockchain underneath it and they can earn money for doing so back crypto But in order to work with the game the bridge is involved because the Ethereum and the USB-C that can be used to pay these users need converting to tokens that will mesh well with the blockchain that actually infinity runs on This means converting the ether to something called wrapped ether which can usually be exchanged back into regular use there later to enable players to cash out their earnings and just be at currency on crypto exchanges Ronin which operates the blog operates the blockchain sorry Said in his blog that the attack drains the user and uses these deposits from the bridge contracts This means that when players want to convert the raptors they burned into either to cash out there's now not enough either left to support them doing so And the rats use that they do have essentially becomes worthless until there are enough new funds back on the bridge to support transactions again Okay so this is having an ongoing impact then is it's Emily on players of this game Yeah definitely So what happens next is that Ronan will have to make sure that there are enough going back into the bridge So either recovering that from the hackers or reimbursing it to users via their investors or sky mavis which operates actually infinity of Z committed to doing that too A previous large bridge hack earlier this year on a platform called wormholes or an investor jump crypto buy up enough Ethereum individually to make the bridge hole again And this is what players and those interested in the outcome of this hack will be watching out for because that's the only way that this wrap these are really gets any value again I was just going to say we likely is ronin likely to get the funds back then from whoever's taking them here because they're supposed to be a lot of visibility attach these public blockchains Yeah exactly So sky mavis which operates actually infinity is that they're committed to ensuring that the funds do come back one way or another But what they'll be doing is watching to see what the hacker does with the funds They've identified the wallet where the stolen funds went to and blockchain analytics companies like chain Alice's analytics have mapped out how the hacker began cashing out some of that Ethereum already to a few well-known crypto exchanges I think we mentioned two earlier Some sites have also placed a warning on that wallet to let people know it's the hacker The theoretically if anyone received any of the stolen crypto they've nowhere it came from and vice versa we can see if the hacker moves any money Of course that doesn't really help in terms of getting it back You still have to kind of find out who the hacker is in order to do that and get control of that wallet But at least we can watch what's happening which is much more than you can do with this was happening regular currencies Right Yes indeed so there's a lot of visibility but you still need some sort of mechanism for getting the money back getting control of the wallet as you say Emily no doubt regulators will be watching this one with great interest I've been very crypto reporter Emily Nicole thank you very much for shedding light on this big crypto heist When we come back we will delve into another conversation about where we are on these markets I'll be speaking to Marcus Morris Satan European equity portfolio manager at Allianz global investors How resilient does he expect stocks to be In the face of what he's still a pretty volatile bond.
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"Key remains under threat even after Russia promised to scale back military operations there President Joe Biden said he will wait and see whether Russia delivers on its pledge made after peace talks in Istanbul I had a meeting with the heads of state of a four allies in NATO France Germany the United States and Great Britain And there seems to be consensus that let's just see what they have to offer Meanwhile Ukraine's president Vladimir zelensky has also cautiously welcomed progress in those peace talks for things Russia still can not be trusted Speaking to Bloomberg adviser to the president of Ukraine Alexander Rodney says Russian sanctions need to be bolstered We have now seen finally foolproof of the fact that this regime is in threat to economic prosperity and peace in Europe And then it's in a long-term interest to make sure that Russia somehow by itself transitions to a more democratic equilibrium away from authoritarian equilibrium in which it has found itself So that needs to be the medium term objective and certain sanctions will have to remain an effect will have to be intensified for that to be achieved Meanwhile negotiations didn't result in a ceasefire agreement though Keith said it is willing to discuss a status of occupied Crimea while Russia indicated a meeting was possible.
Bloomberg Radio New York
"alexander rodney" Discussed on Bloomberg Radio New York
"The U.S. is saying that NATO is ready to put more sanctions on Russia at Baxter has it all from the Bloomberg newsroom in San Francisco Ed Yeah we have a few more details as well Doug to the merciless Russian campaign against marital continues It seems to have stalled elsewhere in Ukraine NATO is preparing further sanctions for Russia as you said U.S. national security adviser Jake Sullivan says the Biden trip this week will firm up those plans He will join our partners in imposing further sanctions on Russia and tightening the existing sanctions to crack down on evasion and to ensure robust enforcement Now The Wall Street Journal is reporting that the Biden administration is preparing sanctions on most members of Russia's state Duma It is the lower house of parliament on Thursday the president is expected to announce sanctions on more than 300 members of the Duma They will be coordinated with the EU Now on the flip side of all of this Sullivan says he's not seen Russia shipping any munitions to Russia We have not seen since those meetings were since the president's conversation with the provision of military equipment by China to Russia But of course this is something we are monitoring closely Yeah China to Russia but in Ukraine the threat of chemical weapons by Russia still exists and adviser to president zelensky Alexander Rodney in an exclusive Bloomberg interview says there has to be a red line If there is the use of weapons of mass destruction of which chemical weapons are one type then we really hope that nobody will just sit back and watch what happens Of course we hope there will be an intervention We know that chemical weapons could be used at this stage because Russia is facing serious issues taking our cities And as president zelensky puts out another plea for Vladimir Putin to talk he's quoted as saying that he could talk about Ukraine relinquishing claims in Crimea and Donbass the home of the pro Russian separatist movement Day two of the investigation into the China eastern crash as yet they have not found the black box investigators are saying that there was no response from the cabin to multiple calls for the plain when it started its nosedive witnesses say the plane disintegrated on impact Day two of the U.S. Supreme Court nominee kadan Chi Brown Jackson with her saying that roe V wade is a settled abortion law Roe and Casey as you say have been reaffirmed by the court and have been relied upon and reliance is one of the factors that the court considers when it seeks to revisit or when it's asked to revisit revisit a precedent Yeah and of course as she was praised by Democrats and Republicans like Ted Cruz and Lindsey Graham tried to needle her Graham asked to her religion She said Protestant He asked her how many times a week she goes to church She says that she would like to keep that private and it does not figure into her decisions on any bench on which she sits Now Graham tried to blister Democrats when they ask questions The other way to two Trump nominees He said they were stupid He asked them today In San Francisco Ahmed Baxter this is Bloomberg Doug All right Ed thanks Let's get to Michael kojina He is our guest for the half hour Michael is the president also portfolio manager at the permanent portfolio family of funds He's in San Francisco Mike thanks for being with us We get conditioned to believe the equity market can not move higher in the face of rising interest rates Is there something that we need to break down in understanding the relationship that's playing out these days Yes Hi Doug Well I mean we've had historically positive stock returns and inflation I would go back to the 1980s to say that it is possible for the two to coexist The circumstances are a little bit different this time around than back then So it remains to be seen There's an issues out there But you can have inflation the question is at what point is it a positive And it's a byproduct of growth You can live with it And at what point does it become negative and a headwind to growth And we don't know the answer to that yet because we're still trying to figure out what the real inflation number is I don't think it's going to stay as high as 7 8 9% I think some of it is transitory but I do think it's I don't think it's going to go down to one or 2% I think it's going to settle somewhere in the middle And that's the key question where and what impact will that have on the economy So a lot of these answers to these questions we don't know yet Also what we don't know is if the fed is going to raise rates by 50 basis points at some point down the track Do you expect this is going to happen And if so when might that happen Well they need to raise interest rates and they need to raise them a lot The question is can they Again in light of a lot of other factors we don't fully have the answers to So in our view they waited too long to start the transitory inflation story was not accurate At least to the degree they sold it And as a result they got to play catch up The question is how quickly can they do that without throwing the economy into a recession or worse Or and also having to sort of walk the tightrope if you will with a recession and inflation which would be the classic stagflation definition So they have some things ideally they'd love to raise them to normalcy whatever that is To neutral and then maybe restrictive I don't know what that is when you've got an 8% inflation rate right now but the higher number the better at some level But they're going to be prevented from going too high because you could have bad economic circumstances out of that And also the higher interest rates go the higher the interest payments are in the national debt And we continue to add trillions and trillions as it is So they're in a difficult position right now Down hey Mike you know even before Warren Ukraine higher commodities prices were adding to some of this inflationary pressure The Bloomberg commodity index is up about 26%.