35 Burst results for "Bloomberg News"
"bloomberg news" Discussed on Bloomberg Radio New York
"The economic cost of not having these more than 100 million Americans connected with broadband Internet Yeah it's a tragic cost I'm not sure if it must be difficult to quantify but it's something that the reason there has been more emphasis on this subject is because the COVID-19 pandemic prior to the pandemic a lot of folks had said that any infrastructure Bill that came up it was always about investing in roads or bridges or railroads And when I talked to the rural broadband association they just kept saying hey it's also in addition to roads and bridges It's also broadband And that didn't change the Congress's perspective on that didn't really change until the COVID pandemic when suddenly they realized employers couldn't have people working from home because they couldn't access zoom or kids could work from home and do their homework because they didn't have Internet access But that's why this debate is really coming to the forefront right now in the infrastructure Bill of trying to solve that digital divide because man we saw that during the pandemic that the U.S. is just not prepared for a remote society That's Bloomberg news technology reporter Austin Carr So many images at the beginning of the pandemic when kids went to remote learning of kids outside of McDonald's or as Austin talked about outside of community center because that's where high speed Internet was The image of kids having to have fans on them because they were outside in hot weather I mean it's a stark reminder of where we are as a country when it comes to the digital divide Exactly It's definitely too a must read You're listening to Bloomberg business we coming up We're going to welcome in business week features editor max shaft who is out with a new book The contrarian Peter Thiel and Silicon Valley's pursuit of power It's all about the PayPal and Palantir cofounder and his rise to power to become one of big tech's most influential figures This is Bloomberg Childhood is wanting a variety of different baked sweets and someone telling you no Adulthood is wanting a variety of different baked sweets.
Apple Delays the Date for Employees to Return to Office
"Morning, Renee to Good morning, Karen Bloomberg News has learned that Apple is pushing its return to office deadline until at least October. The company says it will give employees at least a month's warning before mandating a return to office. CEO Tim Cook initially said in June that employees should be back in early September. The move makes Apple one of the first tech giants to delay return to office plans in New York. I'm rainy day young Bloomberg daybreak. All right, Rene to thank you. The spread of the Delta area now has the U. S government revising its
Marilyn Monroe Is Still a Counterfeiter's Best Friend
"Nearly six decades after her death, Marilyn Monroe is still a popular choice from mugs, T shirts, jewelry and other products using her name even illegally. Joining me is Bloomberg News Patent reporter Susan Decker. Marilyn Monroe is still popular. Just how popular issue she's so popular that counterfeiters loved put her name on T shirts and the owner of her trademarks loves to file suit to stop them. So who owns the right to her picture who owns the right to her name? Well, Authentic Brands Group, which is possibly going for an IPO late this year, owns her name and the phrase diamonds are a girl's best friend. Which, of course, is the famous song from Gentlemen prefer blondes. But her image is actually public record. There was a rather famous case back in 2012, where it was decided that she Did not have any right of publicity. Um, this is one of those Make sure you pay your taxes situations when she passed in 1962. They argued that she lived in New York because they didn't want to pay California inheritance taxes. It was a rather modest Mild, but still they didn't want to pay taxes. So they said she was she was a resident of New York. And they said, Oh, no, she was. She was domiciled in California when she passed and and the court said No. You can't say she lived in New York for purposes of taxes and then say she lived in New York, California for right of publicity. We stick with the first one, which was New York, so there is no right of publicity for Marilyn Monroe. The trademarks of her name are still
G-7 Nations Agree on New Rules for Taxing Global Companies
"Bloomberg News Room. The world could be headed for new tax rules. G seven finance ministers have just agreed on the outline for a plan. To set a global minimum tax rate of 15%. This could hit US tech companies who take advantage of cheaper overseas tax rates. The G seven is expected to try to sell some 140
Biden Unveils Record $6 Trillion Budget for 2022
"That's how much President Biden is proposing for federal spending next year. His budget was released today and it would amount to the highest sustained level of federal spending since World War two. With investments and transportation, education and combating climate change. Let's take a closer look now with Michael Regan, he's senior editor at Bloomberg News, Mike Welcome. Oh, thanks, Peter. So of course, this is something that would need to pass Congress. It's far from becoming law. But if you view this as a vision statement from the president, what does it say about his vision? All right. You're absolutely right. It's more a wish list than the actual budget that will pass. But as far as his statement, Peter, I think the main priorities are he wants to kind of bolster the safety net for the less affluent sort of more at risk members of our society. So more education, spending, more social welfare type of spending and Programs to allow people to get the child care they need to pursue better employment. That sort of thing as well. On the other hand, is also a priority to sort of repair a lot of the infrastructure in the country. That's needed that stuff like Bridges and roads and bolstering the green energy infrastructure in the countries. Well, so kind of Ah, two handed priority from from this administration. And that's
Biden to Hit Putin With New Russia Sanctions After Summit Offer
"Jennifer jacobs at bloomberg news. I report tonight that the biden administration is getting ready to sanction russia tomorrow Russian individuals and entities in response to russia's efforts to disrupt the twenty twenty election. The us intelligence community concluded that russia made yet another concerted effort and twenty twenty to attack and undermine our election to try to benefit the donald trump campaign. The sanctions are reportedly in response to that also reportedly in response to these solar winds. Hack that hit nine federal agencies one hundred big private companies last year. According to bloomberg news the plan is for the government to sanction about a dozen russian individuals including government officials and intelligence officials plus twenty russian entities of some kind plus the reporting that the us government could expel as many as ten russian officials and diplomats from the united states. Tomorrow
China's Didi Chuxing Raising $1.5 Billion in Debt as It Nears Blockbuster IPO
"We're hearing Chinese ride hailing company Didi to Shing has filed confidentially with the U. S. Securities and Exchange Commission for an initial public offering. Think the Chinese version of America's biggest ride hailing company. Crystal Day covers Didi for Bloomberg News. They are the equivalent of uber in China, basically, and they are expanding very quickly. They're trying to get into space is like for delivery grocery deliveries, so they need the money. They need the capital. And they are trying to twist in the U. S. And Tennessee. Didi is also said to be exploring a potential dual listing in Hong Kong at a later
Microsoft in Talks to Buy Discord for More Than $10 Billion
"Paul. Wb the prophet of east sports. We'll be bringing you my hottest takes from the week. Basically everything you need to know about the business of sports all in about one minute. Let's go according to a report by bloomberg news. That came out on monday. Microsoft is currently in talks to buy messaging app discord for ten billion dollars. This news comes after venturebeat said the discord is exploring its options for sale in the wake of interest for multiple parties at ten billion dollars. This would be a steal. From microsoft discords growth has been meteoric however. This rumor creates a lot of questions. Why would discord self for ten billion dollars in the context of peers going public much. Greater valuations could discord have planted this story to create a bidding war. And why would microsoft spend almost twenty
Suez Canal ship partially refloated
"The shipping snarl at the Suez Canal gets untangled that skyscraper size ship that had been blocking the Suez Canal has been partially free by salvage crews. That's according to Bloomberg News and the Wall Street Journal. It's unclear at this point when the canal reopened for trade, but this is definitely huge relief as the narrow water route accounts for roughly 12% of global trade. That's folks is Marianne
Bloomberg News Energy Reporter Robert Tuttle Explains the Suez Canal
"Reporter Robert Tuttle joining us on the phone in Calgary. Hey, Robert. Love your story. You can ask my tea when I'm like. Oh, we've got him yet because I feel like Let's explain the Suez Canal. I think these are things we either learned about in great school history and then just kind of threw it away. Just take it for granted when it comes to moving trade around, but it it's really important. Yeah, I mean, it's it's hugely important as you said it was built more than a century ago went into operation in 18 69. It's played a central role in the last. In that sense, it's been open. It's played a central through two World wars. Revolutions. It's been a really important conduit for the world to you. One could say it almost helped told together the British empire and from some extent for a while there Uh, yeah. I mean, it holds today it carries about 12% of the world's trade goes through it. It's Zoe, the biggest prize. The most important aspect of that trade is, of course, oil. You know, the Saudi Arabia, the world's biggest exporter, sends oil through the canal to Europe in the North America oil comes the other way as this, uh, To reach Asian markets from wherever West Africa from the U. S. But it Zab slightly essential plays a central role to the world trade until it blockages costing quite a bit of money. Holding up about $10 billion a good today. They're just waiting there. No,
Microsoft is reportedly in talks to acquire messaging platform Discord for more than $10 billion
"Microsoft is reportedly in talks to acquire messaging platform discord for more than ten billion dollars so This article comes to us from. Cnbc does kind of breaking today. So this is probably going to be the talk of today outside of likely a couple other things that i'm gonna be touching on article wise today but microsoft is in talks to buy messaging platform discord for more than ten billion bloomberg news reported citing people familiar with the matter. Discord has reached out to potential buyers and microsoft is one of them. The report said while one of them said it was more likely to go public than sell itself. And i sure hope. That's more the case than nine. I mean if you want an obvious case in the case of the story of two games very similarly minded one was going to bring it up again wine craft and the other one was roadblocks roadblocks and sell it to anybody and They went public inmate. A good chunk of chain and minecraft. What's it also it. Case in point doesn't microsoft own skype. Why do they need discord. You guys really that desperate. I thought you purchase skype and you integrated everything in skype works power. Everything like microsoft teams all. Why do you need anyways earlier. In the day venturebeat reported that Exploring a sale and was in final talks with the party. Both microsoft and discord did not immediately respond to requests for comment So that question kind of remains rumor. Not rumor in final talks science. We'll have to wait and see how it how it sorts itself
Hackers Breach 150,000 Surveillance Cameras: But How?
"Radio. All right, so we were all over this story yesterday when it broke. It was about the hacker group that says it wanted to show how much surveillance is out there in our world and how easy it was to breach it. Great reporting and itwas a Bloomberg Exclusive. It was William Certain is the one who brought it to all of us. And to all of you, he cybersecurity Porter at Bloomberg News joining us on the phone from New York City, William I'm still reeling from reading this story because it's terrifying and in so many different ways. What did this group of hackers do? Well, thanks for having me so they owned as hackers say they have this company in the worst possible way. They got into an account at this. This Security camera company Club Kolkata that allows them to look through the camera of all of its customers, and not only that they could look at the cameras live on day could also look at the archives of the videos that those customers had stored. From those cameras and in some cases of cameras were using facial recognition technology, which the hackers could also interact with. How is that so easy? Well, uh, you know, it's obviously there's multiple investigations going on at the company right now. T answer that question. But, you know, they got in through exposed credentials. So you know a user name and password for so called super admin account. I've been left out there publicly on the Internet. Um you know, it's sloppy. It's bad security practice on DATs how it happened. What do we know about about the group that that did this? Who is Tilly Cotman. Well. Kelly Cotman is a 21 year old with citizen who could've packed with an anti capitalist anti surveillance when he won world view. Um and you know they seek to kind of China light on on what they see is a abuse of technology. And then capitalism gone too far. I mean, that's what this is about, right? Shedding a light to say. Hey, folks, I don't know if you're aware of it. You've all gotten so used to having cameras all around you like we all have a camera on our phone. But did you realize what that really means? Right, and another aspect of this that really isn't being discussed. Much is like these hackers could have done something much worse. They could have sat in this system for a long time and lost it all this confidential video. They could have, you know, utilized the cameras to launch other hats in the future. They could have tried to hack the networks of Ricardo's, uh, customers. But they didn't do that. They came to a journalist and they blew the whistle. Silver Kata, the company at the center of this It's a startup that was founded back in 2016 itself, Security cameras that customers can access through the Web. Obviously, they've raised $80 million in jazz of January. 2020 values the company at $1.6 billion What does this mean for the company? And what have you heard from the company Since you published this Well, obviously terrible for the company's reputation, right? They have so many high profile customers, not only high profile customers, a Tesla and cloud Fair right be exposing this put off the schools, hospitals, jails. Um, you know, it's terrible for the reputation and you know their companies that tries to sell their security is one of their teachers. And you know what I'm hearing from the company is not much there. Um um Doing an investigation, and they contacted law enforcement. But you haven't heard too much more. They restrict the hackers no longer have access
China legislature to deliberate Hong Kong electoral changes
"Moves to curb the Hong Kong oppositions role in local elections, and Cates has news from the Bloomberg News Room and that is, lawmakers will be looking at a draft decision on overhauling Hong Kong's electoral system. National People's Congress will review a resolution on what a statement says it's for improving Hongkong's electoral system in the coming days, and the Hong Kong legislature will be expanded from 70 to 90 seats.
Report to blame Saudi Crown Prince for death of journalist Jamal Khashoggi
"With New public details about those behind the death of journalists, Jamal Kashiwagi. Now it implies Saudi Crown Prince Mohammed bin Salman was involved in the murder at the Saudi consulate in Istanbul in 2018. It also comes as President Biden plans his first call to Saudi Arabia, King Salman Former national security adviser John Bolton told Bloomberg News. On top of the killing of two Sugi dynamics in the Middle East have changed. Well. Last night. Axios reported that Biden plans to call the king today that coming before the release the head of the oven intelligence report about the murder of the journalist remark, a show G. What do you know about this report? I don't. I don't. I don't know exactly what report it is And if it's Related anything that I saw when I was in the government. I won't talk about it. But I will say this. This is this is ah, moment of truth. I think for buying if if he wants to have a fundamentally different relationship with Saudi Arabia, I think it's a reflection that he thinks he can have a fundamentally different relationship with Iran. And I think That part of the premises. Incorrect. As long as the Ayatollahs are in tower. Nobody could don's the murder show. Nobody has any doubt that the Saudi government was involved in it. This is a this is a matter of realpolitik. In in that region way need the Saudis and they need us When I was in Moscow, once meeting with President Putin, he just he thought of his real humorous. Subject that we might turn away from the Saudis, and he said to me, Look, if you don't want to sell them weapons, That's fine. I'll sell them weapons. Now. The CIA assessed that NBS personally ordered the killing and a United Nations investigator found in June of 2019. It was inconceivable that NBS was not aware. The killing, of course. Yogi. White House Press secretary Jen Psaki said last week that President Biden is working to re calibrate the American relationship with Saudi Arabia and plans to communicate with King Salman, which is his counterpart instead of his son, the Crown prince. South Dakota House lawmakers have begun impeachment proceedings against the
Biden Administration Pauses Trump's TikTok Ban, Backs Off Pressure To Sell App
"About one of today's big stories, and I'll let Julia T Essa Thanks, Doug. What about an administration is signaling it will slow down an effort to force Tic tac toe unwind. It's US operations. Joining us to discuss is Nick Wadhams Bloomberg News State Department reporter. So this is something that former President Trump was very keen on in his final year of office. Is this a case of the bottom administration kind of saying this is not at the top of our priorities? Or is it more a case of Let's just hold on this and And investigate a little bit further. Well, it's ERM all of the above. One of the interesting wrinkles about this whole thing was after a lot of noise and Uh, stuff like that, with in the middle of the Trump administration, actually, a zoo the end approach. The election approached the Trump Administration to really sort of stepped off the gas on the TIC tac sale, So they had really pushed forward with this, but In the waning days of the administration, actually tick talk and the regulators and Oracle and Wal Mart the companies that were involved in this deal. We're actually having a hard time getting in touch with the officials who were responsible for Really pushing it through. So what we're seeing from the Biden administration is of their very much telegraphing that this is not a priority for them. They want to continue to go through to see how this went down. To see what happened. But this is not going to be something they're pushing for. At the same time, they're saying they're gonna let A separate process run its course, which is essentially US regulators looking into the terms of just bite dances, operations in the United States and potential security risks whether there's any transfer of American customer data back to China. That's continuing. Yes, we're told that representatives of bike dance, the parent company of Tic Tac have been talking to Sophia's over security guarantees. But this really goes to the nature of the U. S. China relations. They were very different. Under the Trump administration, from what we came to know, through the Obama administration and now with it, Biden administration. Is it going to be a little bit of mean reversion here or We really have to look at a new world that has been predicated on everything that happened under the Trump administration. Well, it xcar tingly, nuanced. On the one hand. It is very interesting the bike administration saying, Let's and we agree with the Trump administration's tougher tone toward China, and that's something there. They're going to continue, But they say that the devil is really in the detail. Okay, We agree with the strategy, but we do not Agree with the tactics and that was always one of the things about how the Trump administration went after this Tic Tac example was the perfect one because there were so many issues that the U. S. Has disputes with China over but singling out TIC Tac, this app that is extremely popular in the United States. It's not really clear. How American customer data could really be seriously threatened. It was always a nod one why they were going after Tic Tac in particular. So they're saying essentially that they're going to take a more strategic approach. Let's talk about
Republicans press $600 billion COVID-19 bill as Democrats ready Biden’s $1.9 trillion plan
"As well. The news flow out of Washington, Tim and we know the president's trying to get through that massive coveted relief package, but it may not get through in one big piece. Yeah, it's looking increasingly likely. Look, Democrat Democrats want something that's $1.9 Trillion Republicans. They're saying, Hey, we want something closer to 600 billion. That's a big gap. All right, Let's get the latest on that. Bloomberg News U. S Economy reporter Katia Dimitri Dimitri Eva is on the phone from Washington D. C and she joins us, Captain. Good to Have you here with Tim and myself so What do we know so far? And you know, what are you hearing about the prospects for this economic plan? Hey, Good afternoon. It really depends on whether we're looking at, uh, sort of what the economics tell us verses politically sort of what Biden has to do here. You know, way had two pieces of news coming out. And if you the past few days, one of them this morning with the CBO report showing that the economy is actually doing really well, um, just thank the last round of stimulus. The $900 billion so You get David like that, And you already have some Republicans out in front of this, saying that this clearly signals that more targeted stimulus is needed. And then last week we had a report. From another economic output opportunity inside. That's Raj Chetty of Harvard and others who said that more target stimulus checks are actually the best way to do this. Andre, perhaps allocating some funds to sort of social safety net programs, so there's sort of the economics of it is showing that maybe more targeted stimulus is better. You have Republicans, obviously saying that Democrats highlighting will hold on look at the labor market. Let's look at the job numbers. We see that more than 10. Million people are still unemployed, and we're pre coded. We need to do more rather than less because the risks are higher. That's that is really encompassing the debate that's happening right now in Washington. Okay, so when when we say targeted? What exactly does that mean?
Climate change is now a national security priority for the Pentagon
"No surprise at joe. Biden has moved swiftly to change the white house's approach to climate change after all his predecessors view was that it was all a big hoax but few could have predicted just how quickly and radically president biden would act. Climate change is once again a national security issue. He said well. Joining me. Are paul rogers author and professor of peace studies at the university of bradford and actually at rati climate and energy reporter for bloomberg news. Good morning to you. Both gentlemen and pull man became with you. The idea of climate change is a national security. Threat isn't new. But could you just recap what it actually means. Please don't quite show what it means. You can record the pentagon this saying. It's really looking at it from his own rather narrow perspective A lot of the talk is about all the problems that some of the basis of had with inclement weather disastrous for as roma occasions. This quite a lot of talk about the need for the us military to decrease carbon emissions. They rainy presenter. Quite a significant minority the overall american emissions but in terms of the world y. position of climate. Change there's very little yet. There is a risk in securitising in climate change or climate breakdown and basically treating as a threat which has to be counted when it has effects on the problem with climate breakdowns. You're actually have to be working ten twenty ahead of when it starts to happen to be really effective. It is much more about prevention rather than try and clear out the mess. That's not to say that given where we are now won't be major problems across the world mass migration the rest but the real point is. This is something which has to be really concerned with the prevention. There isn't an an easy kill once you get started So we're really. It's a very odd situation that the military taking it on a particular way which probably is not the central issue when you define something act as an national security threat. How does that change a country's approach to something such as climate change. In this case i think a one other way to interpret a biden administration is trying to do is use. What firepower it has it. The cash spends on on sectors of the economy but of course defense as well which is a huge part of its spending and try and increase the demand for cleaner energy. So we've seen that one other route that the by Administration is going to use is to try and electrify the entire federal administration fleet. And so. maybe it's a way to create demand from the defense sector which you know is As paul rightly said an insignificant amount of emissions. But it is a huge spender of money on technology. And so maybe that's another way to push for a national security agenda on climate change
Fed Holds Policy Steady as Economy Stumbles
"Learn a bit more about what we got from the Fed, joining us. Kathleen Hays, Global economics and policy editor at Bloomberg News. She's here in our New York City bureau, along with Dave Wilson, stock cetera Bloomberg News on the remote access from New Jersey. So Kathleen, I feel like steady, she goes, We know pretty much what we expected from the Fed what we expected, and that's going to be very reassuring to the markets. Because there has been there been comments made in the last say two or three months by a handful of Fed officials that depending on the economy, they could see that that's starting to taper its bond purchases in the second half of this year. So what they said today I think, Let me grab another headline here. That is very important. The Fed repeats. His policy statement that it's buys its its bond buys will continue until quote substantial further progress and I'll add to that headline has been made because this is language. They've added recently to underscore that they want to see not just the moderating economy and job market they mentioned which were what you were just reading from the headlines. They want to see not just inflation, starting to move higher. They want to see inflation at 2% and above. They want to see Ah lot better job growth. They want to see claims coming down and Kathleen. They're willing to let it run a little bit of hot. We've heard this a lot from Jay Powell and company that because because they want to see and make sure that the economy gets back on a firm, two things here number one you got left around. Hot, I think is the idea to ever even have a chance in wrecked and you know where. To get inflation above 2% H e double toothpicks is there you go, baby. And then the second thing is, you know something they even added. It's a small thing, but it means a lot. I think when they said that the economy's path will depend significantly, they said, not just on the crown of fire itself, but also on progress with inoculations. That's another word for vaccinations, right? So they're very hopeful as many people are that the vaccine rollout will go quickly. When I spoke to Lord investors, President Clinton Kansas City Fed A couple Excuse me. Cleveland Fed Sorry, Loretta story yesterday on straight there you go on now two powerful women there don't want that. They're fed banks mixed up. But she said she thinks by the third quarter will have not full vaccination, but so much of the population will have it that that's why we're going to start seeing a really strong rebound. To the economy at the press conference, J pal, That's where two be listening for I think one more interesting thing I've been thinking about the last couple of days. If we start seeing that strong rebound, and there's all this like another, maybe $2 trillion of stimulus being debated, you know, one of you will have in the middle here is Janet Yellen and she has said Right now, you gotta act big. You gotta act now. But I think this is a very interesting question that Republicans will probably raise. Look over getting ready for a big rebound. Do we really need to spend that much now? I hope that's another question. A J. Pollock. It's asked today
Netherlands Faces Unrest As Protesters Demonstrate Against Curfew
"A new curfew in the Netherlands was supposed to slow the spread of covert 19, but it ended up setting off the worst civil unrest in four decades. There in a small Southern city protestors looted a supermarket and in Amsterdam, rioters threw fireworks at police officers. Bloomberg News journalist YOST Ackerman's has been covering the unrest from Amsterdam and he joins us this morning. Thanks for being here. Good morning. What happened last night? I mean, just what can you tell us at this point? We've had some unrests ever since the curfew started on Saturday evening from 9 P.m.. It's a nighttime curfew, obviously, and we've had undressed for the for every night since then. You have to say that last night was the columnist since we've had over 100 arrests, which is way fewer than we have in previous days. So as as we've noted, this has been happening since Saturday night. Can you just explain what is animating these protests? It's about the covert restrictions. But what specifically Well, if I'm reading local reports, because this has been happening all over the country and have not been physically there because we called it sure e think we have to distinguish two very distinct groups within the protests were part of the group. For example, we saw this on Sunday here in Amsterdam Beautiful Horse Museum and the Tax museum in the center of town. There are people protest in who believe that the government is infringing on their personal freedom and their protest ng that and obviously the curfew. On top of the block down. This country has been in lockdown since mid October. The curfew is sort of added to that, Andre. Some people are protesting that particular bit. The second group and this is very, very group and very Confusing because it's unclear who these people exactly are. But it's clear from reports and also social media clips on video that some people are basically doing this just to incite violence and riot smashed shop windows. It's a trap with no other motive just for the sake of violence. That is what officials are now trying to determine its clear that officials years of government officials but also legal authorities wanna stand down on this. Which may in part have been. The reason did last night was a bit more quiet and previous evening because police was Out in major force across the country, but that's what they're trying to determine. And then once they've determined why they're doing it more importantly, try to recoup the damages, for example, for shopkeepers. Bus stops that were smashed, etcetera.
"bloomberg news" Discussed on Bloomberg Radio New York
"According to TurboTax, a distribution problem sent many deposits of $600 or more to the wrong accounts. That's the latest time in city on And I'm Susanna Palmer in the Bloomberg News Room. As we've been reporting, Indonesia's Coast Guard has sent three ships to the Java Sea. This as fears grow that a Boeing 7 37 526 year old plane has disappeared. Indonesia's aviation authorities lost contact with the airliner from Sri. We JIA air with 62 aboard today shortly after takeoff from Jakarta as we've been reporting Twitter permanently banned President Donald Trump's personal account for breaking its rules against glorifying violence. But Wagner covers Twitter for Bloomberg News. Most of the time what we've seen from both Facebook and Twitter. Has been that when stuff that happens on their platform leads to real world violence and real world consequences. That's often when they step in. Wagner sites that worries that Trump could incite more violence on Inauguration Day. York will begin providing Corona virus vaccines to people age 75 older on Monday more from Bloomberg's Denise Pellegrini, Governor Cuomo's move expense eligibility beyond healthcare workers on the front lines, hospitals and pharmacies still must prioritize health care workers. But if they have extra capacity, Cuomo says, that's fine. He says. New York will also allow private doctors, ambulatory centers. And pharmacies to provide vaccines in order to speed a slower than expected rollout. Also on Monday, police officers, firefighters and other first responders will be able to get their shots along with educators and transit and public safety workers. Denise Pellegrini Bloomberg radio. China's Ministry of Commerce is published new rules for countering what it calls unjustified laws and restrictions imposed by foreign countries on Chinese companies and citizens, the Chinese Commerce Ministry said in a statement on its website today. It's move aims to protect normal trade and other activities..
"bloomberg news" Discussed on Newsradio 700 WLW
"From the Bloomberg News Room. Trump finally ending the drama signing the stimulus package, right? Yes, The signature came last night. After a lot of suspense. The $2.3 trillion package averts a government shutdown. It will also get $600 payments on the way to individuals. But the delay in getting the bill signed deprived millions of unemployed Americans of one week's worth of benefits, and the president says he still wants Congress to pass a bill two weeks to provide $2000 checks there already the iPhone, the best selling tech product of the year. It. Yes, it is. For the second year in a row, an analyst with Wedbush Securities Track sales for U. S. A. Today he projects 195 million iPhones were sold this year, making it the top seller for the second year. 185 million were sold in 2019, The analyst says the work from home trend prompted a lot of people to upgrade their tech year. In new FAA rules could boost the commercial use of drones. Yeah, there's a new security rules expected to provide a big boost to a drone use of Bloomberg News is reviewed a summary of the Federal Aviation Administration regulations. They'll provide that. Nearly all drones transmit identifying radio signals that show their location on Lee. The smallest drones will be exempt the rules or an important step. This will get approval for unmanned aircraft to make deliveries and to be used for other types of commerce across the country. Right. What are you seeing in the market today? Looks like a positive start ahead. Steve s and P Futures are up 24 points. NASDAQ Futures are up 82 on the Dow Futures are up 154 this hour from Bloomberg. I'm Jeff Dublin. Jura news radio 700 wlw Jason Erhard handling traffic.
"bloomberg news" Discussed on WTOP
"News of 25 55 with Jeff Bellenger. This is a Bloomberg money. Anthony Fauci, one of the Bloomberg 50 People who define 2020. He seems to be everywhere. The director of the National Institute of Allergy and Infectious Diseases has been a constant source of information and advice about covert 19. His admonition to wear a mask was deemed one of the most notable quotes of 2020. Now, Anthony Fauci is championing new vaccines and assuring us that no shortcuts were taken in their development. A speed is really a reflection of the extraordinary scientific advances that was not compromising safety. It's going to take some time to get healthcare workers, first responders and residents of assisted living facilities inoculated. Now, she says, the rest of us have a few months to wait somewhere in April, middle toe end of April and as to when life might get back to what it was like before the pandemic, middle and end of the summer. Anthony Fauci, one of the Bloomberg 50 from the Bloomberg News room, I'm Jeff Hullinger on w T O P. We will have details on our top story this Christmas night as federal authorities are on the ground in Nashville, trying to figure out how and why an RV exploded, causing massive damage downtown early today. Stay with us here. It's 9 56 Way make use a insurance for busy moms like Kate. She's a veteran made of flexibility to balance work home and her hobbies from starting the work day to finishing her latest. Do it yourself Project. So one another car accidentally bumped into hers. While she was running an errand cake didn't let.
"bloomberg news" Discussed on KNST AM 790
"Welcome back. It's great to have you with us, Rush Limbaugh or an A E. I be network and here we are already in the hump Day, middle of the week. You get this day over with and behind you. You are therefore, over the hump three days down two days to go if you weren't the traditional five day week. IBD tip Trump now ahead of where he was in 2016 0, But before I get to this, there's something I've got to mention. First. I need to get this out of the way. I saw a story yesterday afternoon after I got home of the end of the program. I didn't believe it. I did not believe this. But I I I had to because it was Bloomberg News headline. Trump pulls Florida ads is Cash Poor campaign Anders final weeks is also make any sense. To May. And starts off by saying Boy Buoyed by fundraising. Biden holds 321 edge in recent spending spending Big warp. President Donald Trump's campaign is all but pulled its advertising out of Florida. As it stakes. It's relatively small bank account. On the industrial northern states that carried him to victory in 2016, not well. Tim Murtaugh of the campaign was livid and put out a statement. In the form of a tweet. At five o'clock yesterday afternoon, saying the Bloomberg story about the Trump campaign ad buying is horribly wrong. It must be retracted its wrong in every aspect, not even a call to the campaign to check it before they published They used quotes from me taken from a conversation on a completely different topic. This is sloppy reporting it behind its voter suppression folks. It's no different than reporting polling data showing Trump losing ground hopelessly behind. It's nothing more than voter suppression. All this covert knows is voter suppression. Rampant number of new covert cases, always designed the scare you into not going.
"bloomberg news" Discussed on KLBJ 590AM
"Welcome back. It's great to have you with us. Rush Limbaugh and E. I be network and here we are already in the hump Day, middle of the week. You get this day over with and behind you. You are therefore, over the hump three days down two days to go if you weren't the traditional five day week. IBD tip Trump Now ahead of where he Waas in 2016 before I get to this, there's something I've got to mention. First. I need to get this out of the way. I saw a story yesterday afternoon after I got home of the end of the program. I didn't believe it. I did not believe this. But I I I had to because it was Bloomberg News headline. Trump pulls Florida ads is cash poor campaign enters final Weaknesses doesn't make any sense. To May. And starts off by saying Boy Buoyed by fundraising. Biden holds 321 edge in recent spending spending Big warp. President Donald Trump's campaign is all but pulled its advertising out of Florida. As it stakes. It's relatively small bank account. On the industrial northern stage that carried him to victory in 2016, not well. Tim Murtaugh of the campaign was livid and put out a statement. In the form of a tweet. At five o'clock yesterday afternoon, saying the Bloomberg story about the Trump campaign ad buying is horribly wrong. It must be retracted its wrong in every aspect, not even a call to the campaign to check it before they published They used quotes from me taken from a conversation on a completely different topic. This is sloppy reporting in behind its voter suppression, folks. It's no different than reporting polling data showing Trump losing ground hopelessly behind. It's nothing more than voter suppression. All this covert knows is voter suppression. Rampant number of new covert cases. Always designed this scare you into not.
"bloomberg news" Discussed on WTOP
"News 25 55 now to Charlie Palette. This is a Bloomberg money minute. Your local neighborhood coffee shop made disappear as cove. It jolts the industry. We're gonna be the biggest drop in specialized coffee shops that serve coffee in TV since 2011 almost 2000 shops will close, Marvin Perez wrote the story for Bloomberg News. And he says it's not just because Americans are staying home. Many a unemployed in typically, coffee shops can be a little more pricing. And obviously, people are still being cautious about getting infected with a decision also trying to save money, But the pain will likely not extend toe. Bigger coffee chains, for example, has been enhanced thing is drive thru format. So there's naked with this waiting time and also the RNC alienating their their pickup concept. Which is his mother, Forman, start with a table thing. Chairs, so coffee shops or joining movie theaters, concert venues and retailers in the list of businesses decimated by Cove it from the Bloomberg News Room. I'm Charlie Patan. W T. O P and coming up on w T. O P the nation's top infectious disease expert outlines a timeline for a Corona virus vaccine. 11 56 Pepco launched the Capital Grid project to build a stronger, more reliable and resilient energy grid project provides safe and reliable energy in a modernized system that Khun better withstand unforeseen events such a severe storms. It will also support renewable energy and economic development across the district. We will install 10 miles of underground transmission cables from Tacoma to the southwest waterfront. We'll also upgrade existing substations and.
"bloomberg news" Discussed on Bloomberg Radio New York
"In the Bloomberg News Room. We're getting word this morning that China will lower a reserve ratio for financial institutions when conducting some foreign exchange forwards trading to zero. In a statement today, the People's Bank of China said the ratio will be cut from 20% and his effective October 12th. PBOC said it will continue to maintain flexibility in the yuan exchange rate and stabilized market expectations. President Donald Trump says he wants an even bigger stimulus than what the Democrats have offered. So far. That's another turnabout in his position. Investor Focus has been very much on any developments regarding stimulus. Mohammed Al Arian is the president of Queens College Cambridge. He's also the chief economic advisor of Aliens, the parent of Pimco and a Bloomberg opinion columnist. I think we have to realize the clock is ticking. Someone describe it to me, as in Game three terms to prisoners that you don't have enough trust. We don't have enough coordination. And therefore it's very difficult to get one outcome. Robin Hood users are concerned after some who used the APP say their accounts were compromised and rated more on that from Bloomberg's Denise Pellegrini. Five Robin Hood customers tell Bloomberg News. They were left in limbo in recent weeks after someone sold their investments and withdrew funds. A Robin Hood spokesperson says a limited number of customers do appear to have had their accounts targeted by cyber criminals because of their personal email accounts being compromised outside of Robin Hood. A spokesperson says the issue didn't stem from a breach of Robin Hood Systems. Authorities, including the Securities and Exchange Commission and the Financial Industry Regulatory Authority, have been contacted by the investors. They declined to comment to Bloomberg. Denise Pellegrini Bloomberg Radio. Global news 24 hours a day on air and on Bloomberg Quick take powered by more than 2700, journalists and analysts in more than 120 countries. I'm Susanna Palmer, this is Bloomberg. This.
"bloomberg news" Discussed on Newsradio 1200 WOAI
"Corey is live. Bloomberg News desk. Charity stocks have said open sharply lower today. Let's look at the futures down futures down 541 points. NASDAQ indicator Down 1 76. M. E S and P Futures are down 55. It's not just in the US dogs over Caesar Lower in London down about 3.3%, you know, uber used to be a serious contender in the race to build self driving cars. But today the effort is lagging other companies. In fact, some uber investors are getting nervous about the rationale for continuing a long term project that isn't helping uber become profitable. Sources tell Bloomberg Fox is willing to spend as much as $2 billion a year just to maintain its rights to NFL football games on Sunday. That would be a huge increase in its current contract right now, the Dow futures down 543 points Live with the Bloomberg Business Report. I made Korea NewsRadio 1200 Wook, I think said, Get the latest news any time anywhere. Just tell your voice activated. Smart device to play news radio 1200 W II an I Heart radio I'm charity McCurdy NewsRadio 1200 W Away. I now traffic and weather together from the orchard dot com Traffic Center Highway. 90 is running well on the eastbound side from 1 51 over the I 10 currently a four minute drive to 81 if you're traveling Out there between stone. Oh Parkway and I 35 should take your right at about 15 minutes for that trip. If you have to see any traffic problems gives a call on the tip line to a no 75 26..
"bloomberg news" Discussed on WJR 760
"Dot org's And the one study he referred to about covert 19 being spread by teens and Tweens. The Korean study. Was reported on in Bloomberg News. So if you go to Bloomberg News, you confined out Mohr information about that Korean study and about thie passing on Of the virus by teens and Tweens and all of that, because there are a lot of things that you need to know about regarding this virus. As you make these decisions. In the end, it's your decision. Whether you're sending your kids back to school or not, if you feel comfortable your decision If you are ah, teacher going back to school to teach 808 590957 We leave the lines open all morning long on this. Town hall on Covert 19 and going back to school going backto Work. 808 590957 808 590 W. J. R We know that MSU was really barreling right along into the football season. And all of a sudden their entire football team. Now his quarantined the entire football team college team, so that leads us right into Bob Murphy. Bob Murphy is a chief policy officer. For the Michigan Association of State Universities, and he's here to give us his thoughts on this Bob. Good morning. Welcome to the Paul W. Smith Show. And more involved, a pleasure to be here. Well, it's our pleasure. Tell me where Since you speak on behalf of the Michigan Association of State University's What's the The overall take right now. Well, we are gearing up and getting ready for a successful fall semester in whatever format that's going to look like. Right now. All the universities are Certainly planning on being at least somewhat proportion in person. And that's gonna be kind of depend on which university you're at and where you're in the state. And how much is going to be online. How much is going to be in person? You know, we've got gone. You've got. What did you just say? We've got away. Uh, we're going to be moving forward this fall with in person classes will be certainly online. You know you've seen Wayne State has probably said that they will be more online than in person. I believe you received mission. Flint is also said they're going to lean more towards online or Ah hybrid delivery than in person. But Of all the universities will be open and have in person classes as well. Was it Mr Murphy was at the Ivy League schools that first made an announcement that they would not be going into into classrooms. It was, ah is if if they weren't in the absolute first they were among the first Harvard I think was the first out of the door, a couple of small private liberal arts schools around the country, but It Wass from the Big East Coast, Ives said. You know, we're just gonna take this whole fall off and go online. Now they have They have more money than anybody knows what to us so they can choose what they want to do with that, and that's certainly made their decision. But the public universities will be at least some in person and depending on where we're at. He's very in person. Well, let me tell you, Harvard may have lots of money. But there are a lot of people that don't want to give them all the money that they've asked for for tuition. If they're not going to have in classroom classes, they're saying Wait a second. It's a lot cheaper for you to do this online. Like these all these online universities. Imagine I went to Harvard, that online university but anyway, imagine the costs involved. And so they They're gonna have their hands full. I think They are. The A lot of people don't realize is providing online education is actually quite expensive. You have to develop the classes basically from scratch again. Because you are teaching and learning is much different online. You're going to do it properly. We know a lot of students who are kind of put off by this spring experience, but that was Essentially an emergency. That was, you know, we need to recall that online learning that was emergency remote learning, so this fall's experience should be Much much better all around. But then part of it is you have the Ivy League. Tuition. And, you know, I think Princeton's giving a 10% rebate by going online..
"bloomberg news" Discussed on Bloomberg Radio New York
"QuickTake by Bloomberg news Bloomberg radio now on global news update also rally beginning calls for police reform I'm Evan handing unbelievable as president trump headed to Tulsa he said he was looking forward to a successful rally his first in months what a great well the crowd at the nineteen thousand C. B. okay center is expected to be the biggest indoor event the U. S. has seen since corona virus pandemic restrictions started in March officials expect one hundred thousand people in the downtown area anti trump protesters and black lives matter advocates as well as trump supporters demonstrators continue to protest racial injustice and the man police reform in cities across the country correspondent Brian young reports Atlanta's interim police chief Rodney Bryant says his department is feeling the impact from officers calling in sick following the murder charge against the former officer who shot ray shard Brooks at the windows where the shooting of a shambles happen someone else was shot another situation where protesters got into it with someone driving a car there were shots fired out there this to police department is being stressed at all levels I asked the chief Hey do you feel like this is becoming sort of a political football he says it's his job to stand between the politics and policing because at the end of the day this is about the citizens of the city a powerful prosecutor in the Southern District of New York who had been overseeing investigations of trump allies is out Geoffrey Berman stepped down after Attorney General William Barr agreed that Berman's deputy could replace him the versatile running back to help the Miami Dolphins achieve the NFL's only perfect season in nineteen seventy two has died Jim kit seventy three there wasn't much of a crowd for today's Belmont Stakes but there was a winner he is a long one by four lengths.
"bloomberg news" Discussed on Bloomberg Radio New York
"From the Bloomberg news room in Washington nine Martin to Carol with the latest headlines Senate Republicans say they may vote on whether to remove president from from office without hearing from any witnesses in a quick impeachment trial the GOP led chambers not expected to convict trump wants house Democrats likely impeach him in the Ukraine scandal the house Judiciary Committee did begins debating the impeachment charges tonight lawyers for house Democrats are asking the Supreme Court not to delay their access to president trump's financial records they say they need them to investigate foreign involvement in US politics Harvey Weinstein is reached a tentative twenty five million dollars settlement that would in nearly every sexual misconduct lawsuit brought against him and his company according to a report in The New York Times global news twenty four hours a day on a on a quick take by Bloomberg powered by more than twenty seven hundred journalists and analysts in more than a hundred twenty countries hi Martin to Carol now let's check the markets in the latest business headlines with Charlie Pellett thank you Martin it was an update for the down the S. and P. and nasdaq as the federal reserve left interest rates unchanged and signaled it would keep them on hold through twenty twenty amid a solid economy sticking to the sidelines during an election year here's fed chair J. Powell the the economic expansion is in its eleven here the longest on record household spending has been strong supported by a healthy job market rising incomes and solid consumer confidence in contrast business investment and exports remain weak and manufacturing output has declined over the past year as for what it would take for the next fed rate increase Zachary Griffiths is rate strategist at Wells Fargo securities he was interviewed on daybreak Asia I think you're gonna have to see some pretty substantial up Texan inflation and that's not what we're calling for it wells at this point we see consumer inflation as measured by the PC deflator heading toward two percent and twenty twenty which is welcome but probably not enough to have the feds which toward potential rate hikes daybreak Asia kicks off twenty nine minutes from now so with the fed meeting behind us investors remain focused on trade Michael gave button is chief economist at Barclays capital so we got some good news on the US MCA I'm not.
"bloomberg news" Discussed on The Takeaway
"Fifty. Years years ago this month a group of native American activists launched in nineteen month occupation of Alcatraz island in the San Francisco Bay. They were protesting the government's mistreatment of of indigenous communities including efforts to strip tribes of their land and status sovereign nations and to assimilate the native population into wider American society. The Activists Davis attempted to reclaim Alcatraz island as their own citing in eighteen. Sixty eight treaty that allowed native Americans to take over surplus federal land. The island had been sitting sitting idle since nineteen sixty three when the famed federal prison shuttered. Its doors name of all Indians. Therefore we claim this land for Indian nations for all these reasons reasons. We feel this claim just and proper and that this land should rightfully be grants was for as long as the river show running sunshine sign Indians of all tribes hypes November nineteen sixty nine San Francisco California. That's the late. Richard Oakes one of the leaders of the movement. This island here represents no-man's-land and every man's land it represents to the to the Indians a place a sounding board where they can get the attention. Republicans they give attention of the press. I essentially government officials oaks and his fellow activists transformed Alcatraz Island into a symbol of native resistance. And while they he didn't succeed in reclaiming the island itself they thrust native American Civil Rights into the national spotlight created a wider sense cultural pride and identity among native people. The occupation was also one of the driving forces behind a shift in federal policy toward self determination for native American tribes in the nineteen seventies in many ways the occupation of Alcatraz laid the groundwork for the indigenous activism. We're seeing today with movements like the Dakota access pipeline standing rock protest. For more on this I spoke to Ken. Blanchet and associate associate professor of History and native American studies at the University of Nebraska Omaha and also really embraced noise cat. Journalists and activists who recently led an indigenous canoe journey around Alcatraz. Okay transitioned to commemorate the anniversary of the occupation. And I started by asking can't how the Alcatraz occupation fit into the broader picture of civil rights in the nineteen sixties axes. There was a lot of communication between these movements. There were supporting one another and the recreating a kind of drive to create new kinds of ideas of unity. Unity within this country but also to create a political base that can move things legislatively as well and make positive change. And that's something really critical that I it showcase to my I students when they start to learn this they start to realize you know those students that took over Alcatraz were not too much different than us. Other words students can still make change in this country country and I think there's kind of an uplift to that in a positive direction for all students to be able to kind of learn from Alcatraz Jillian when we think about indigenous indigenous activism and the Red Power Movement after the Alcatraz occupation. Where did it go from there? So after Alcatraz there was a period of about five five years of native activism most notably with the American Indian movement which did not lead the Alcatraz occupation but got involved towards the end and then led things is like the trail of broken treaties across the United States and the occupation of wounded knee in nineteen seventy three and so there was a real flourishing rushing of native activism and a real cultural renaissance that sort of emerged out of this period that began with the Alcatraz occupation. What is the State of native activism and indigenous activism? Today we still struggle with a basic problem of visibility. You know native. The people have been raised in marginalized in American society. Alcatraz was in many ways sort of the Montgomery bus boycott of the native native rights movement in this country and even in places like Oakland and Berkeley you know some of the most progressive liberal places in the country. Kids grow up not knowing that that's is part of their history that when they look out on the ban look at Alcatraz Island. There was this touchstone moment in the history of indigenous peoples and of this entire country. And it happened right here now Julianne. Obviously a lot has changed since nineteen sixty-nine and I'm wondering how Social Media and more broadly the internet or shaping this new era of indigenous activism I think that the the power of media generally and then social media specifically is that it can provide that access that representation and when you have fewer viewer gatekeepers fewer traditional media gatekeepers. I think that the barriers to entry for groups like native people who you know you'd be hard pressed to find a native American in the newsroom of the New York Times The Washington Post or any of the cable networks or in Hollywood But you can find us online very are. He's only a few go to the right corner of the Internet and I think that I see a lot of young people people younger than I am even using platforms to express their are their political views to take their culture into new digital directions. There are now many native folks who are intervening in our cultural landscape and digital media. Social Media has provided them a tool provided us a tool to do that work and can't Just to sort of round this out here. I mean mean we mentioned the Dakota Access pipeline a couple times but here on the takeaway. We've covered many issues that affect the indigenous community here in the United States including the crisis of missing and murdered indigenous women and girls Healthcare disparities and an environmental justice just to name a few. Have those issues been the same same as they were. Fifty years ago are there new issues emerging For this community when it comes to civil rights and social justice that we should be paying attention to or have any of these improved in America. We have a long way to go for equality for indigenous peoples. The issue of oppression has never been abated of the issue of colonization has never never been abated. These are issues that are alive and in strong and well within pockets of America and their issues that we as communities and nations have to the face kind of the reason why when we pull back from this and we look at One of Richard Oakes most famous quotes which was tries is not an island. It's an idea. It becomes a very powerful driven force within the movement of Activism in Indian country as to take direct action. But do that. In a non-violent way think indigenous in those solutions and in the course of that is to create a new wave of of activism that can transform our rights. And you gotTA scratch your your head a bit and like you said wonder why they're such an epidemic with murdered a missing indigenous women. Why do we have Monica in Hawaii? What do we have standing rock? Why are we still going going over these issues where we have to educate greater public about treaty rights and some of that does have to do with our educational system has to do with curriculum but also has to do with larger systems of colonization? And and unless we started attacking this communities together and addressing it we won't see significant change for some time. I think that's the critical issue here. So I mean I think think one more element of this that has certainly changed in the last fifty years. Is that climate. Change has emerged as an issue. That was only really a theory. And in some small scientific circles in nineteen sixty nine and one of the fascinating things I would say about the movement you know for climate justice right now. Is that so often fin indigenous communities Like standing rock are on the front lines of that movement are playing outside his role really in calling attention to new environmental injustice. Julian brave noise cat is a journalist and activist Kent blance. It is an associate professor of history and native American Studies at the university. Eh BRASSICA Omaha. Thanks so much for this conversation. Prince firmness thanks for having us. And that's our show so for today and we'll still be on air tomorrow during the holiday so be sure to tune in. Thanks so much for listening. I'm Tansy to Vega this is the takeaway and have a happy Thanksgiving.
"bloomberg news" Discussed on Newsradio 970 WFLA
"Everywhere want the American dream, so should gaining American citizenship be simple or hard. Rush limbaugh. Nails the answer in his latest bonus report, why becoming an American citizen should not be easy. Get it free with a new subscription to the Limbaugh letter at Rush Limbaugh dot com. You're listening to the. AM Tampa Bay. WFL dot com. From Bloomberg news, the World, Gold Council reports central banks bought more gold last year than any time in the past fifty years, six hundred fifty one tonnes and they're still buying. And then another report, Chris cat capital? A top performing hedge fund. Call today's buy gold, sell stocks that trade of the century. What do they see coming a bursting stock bubble a debt bomb about to explode? How about a return to the gold standard find out now, call Lear capital at one eight hundred two six four fifty seven hundred for the Bloomberg and Kress cat capital reports. See why insiders are preparing for another epic rise in the gold price. Don't wait. Get your free reports and gold investors guide today. There's no obligation. So call one eight hundred two six four fifty seven hundred then also ask how you can get up to two thousand dollars in free gold or silver. When you roll over a qualifying them out into a precious metals IRA, call one eight hundred two six four fifty seven hundred that's eight. Eight hundred two six four fifty seven hundred us radio radio LA.
"bloomberg news" Discussed on Bloomberg Radio New York
"Is a Bloomberg news technology reporter, he's in our Bloomberg ninety nine one studios in Washington DC for more on this story now and Ben looks like Facebook in particular is playing a lot of defense. Yeah. I think that's basically, right. You know, we've talked about how they have these extensive lobbying operations all the technology companies here in DC, but kind of looking at that recent announcement from Facebook that they're going to combine Instagram and what's app, you could look at it through the Washington lens as a defense against these calls to break it up because if you're putting all the data and all the streams together. Well, it's going to be that much harder to pull them apart. Let's talk a little bit about its plant integrate those messaging products, how do they feel like that's going to? I mean, it seems like it would give them more impetus to be broken up. It sounds more. Like they've cornered the market on that. If they do blend them all it seems like keeping them separate would actually help their case. Right. So this cuts a little bit both ways. What's what's sort of interesting? Here is that you have a lot of critics of these mergers of the privacy position of these companies saying, well, this is what we were screaming about the whole time that they said that they were going to combine these data. But I think in practical terms, if you're going to negotiate a breaking up a company, you have to say where those cracks in the company are going to be in who's going to go into which spun off company, and it just makes it that much harder. Now, it's not clear that this is kind of a high wire act. I think it's not clear that the defense will work. But it does seem as if that's something that they are looking into even as they also walk this line on well, they say it's more privacy protective. But really combines the data streams and tells them more about their individual users. So that they can advertise to them. Okay. So we know about the break-up ideas that are being posed by Elizabeth Warren and others, but what are the other regulatory and legislative threats to Facebook and the other social media companies. Oh, they just run the gamut. And I think what's really important to note about this moment is that it's not just on the left. It's not just Elizabeth Warren saying breaking them up. It's on the right to everybody is just fed up. That's the headline of our story. And that's something. Thing that I hear over and over and over and one of the big things that conservatives talk about is anti conservative bias, we've talked about how sort of saying that these companies have to have a particular political point of view, you get into some some first amendment issues. And so it's not clear that they can do anything. But there is that that liability protection that the that the companies house because their platforms because they're not the one actually writing the content, and so they could go after that. Antitrust you've privacy of the FTC, you have state attorneys general it just goes on and on and on right? Because the when Senator Warren actually tweeted about breaking up Facebook. She got re tweeted by Ted Cruz, and I don't know what universe that would ever happen on any other subject nineteen. Well, but where did they go wrong? The big tech companies. Didn't they used to be the darlings? They were absolutely the darling. You're an American success story. They brought innovation. They brought the world together. They were American companies. They were social democratic Raquel democratic campaign contributions. Absolutely democratic campaign contributions everybody everybody loved them. And I think what increasingly we're seeing is the downside in our everyday lives. Just to take something from last week that horrific massacre in New Zealand livestream across Facebook. They couldn't take it down fast enough. And in some ways, that's just the nature of the platform. It's just a little bit too big. And you can say that they don't want to take it down because it's it's profitable. But I think it's hard you. I think it's hard to argue that a terrorist videos. I is profitable. I just I just kind of bad business model. It's a bad. It's a bad business model. But when you're seeing at this scale that level of downsides. It's hard for voters. Not to be upset and it's hard for politicians. Not to see it as an issue. They can win on. So we're going to see a calls to take action against social media's just get louder as we head into twenty twenty. I think that's exactly what we're going to see. I mean, I think it doesn't crack those top three on the politics of sort of, you know, those those kitchen table issues, you know, how how far does my money go. Do I have a good job? And do I have healthcare those kinds of things I think they're still going to really determine the elections. But it does seem like this is kind of a combination political policy cultural issue that is really gaining relevance. And the companies just cannot stop making it more relevant stepping in it in ways that voters just throw up their hands and go what are we gonna do about these guys in the if you consider that the Republican congressman from California, Devin Nunes suit, Twitter, he can't be the only one who's ever come up with that idea, nor will he be the last you see a wave of lawsuits, I had is this a situation where the technology has outpaced. What is in law? I don't think. So I think there are a lot of problems with that lawsuit. Some of that platform, immunity stuff is also first amendment stuff. He's sort of alleging a conspiracy. But he saying well you have to let this lawsuit go forward. So I can prove this conspiracy. It's very weird venue. I'm not sure what he's doing in Virginia. So there's a lot of I think issues with that suit. And if it gets tossed out, I'm not sure other people are going to are going to go down there. When things like libel law, these things exist, and I think I think they can apply on the internet. But when you talk about that platform, immunity, I think a lot of people are discussing it. And if you look at something like, maybe a drug ads online, a lot of talk around Washington that this is a big vulnerability in coming months. It could be a place where they as you say, we're lawmakers say the policy just just just didn't keep Ben, thanks. That's Bloomberg news technology reporter, Ben Brody. You're listening to Bloomberg politics policy and power on Bloomberg radio. I'm Peter Barnes with Amy Morris. Amy, you might think that the more transparency there isn't campaign finance disclosures. The better now earlier this month, the house passed HR one which reforms the campaign finance system among other things. House speaker Nancy Pelosi, it ends the dominance a big dark special interest money in politics, and it empowers small donors and the. Grassroots. Now. Senate majority leader Mitch McConnell has already said that Bill is not getting any floor time. And the Senate says too much campaign. Finance disclosure would risk retribution against conservative donors. Bloomberg government senior editor for money and politics, Ken Doyle has been following this. He joins us now in our Bloomberg ninety nine one studios here in Washington DC, one of the things he said Ken was that it would risk retribution against conservative donors damp and public discussion and be too expensive. Can you bring us up to speed on? Why McConnell is arguing against that level of transparency? Yeah. I mean, he's he doesn't he doesn't want transparency for at least some of these groups that are known by their critics start money groups, which have been very influential in elections and have helped McConnell and a number of other. Candidates win election. The there is he talks about retribution which sounds like something is something physical is going to happen to these people. I think that the more. What's closer to the truth? Is that a lot of these people don't wouldn't like negative publicity? We're talking about companies that are widely known wealthy individuals that are widely known and some of them would prefer to just remain anonymous just because you know, they don't want the attention, especially corporate America, doesn't like to get involved in controversial political topics. And so what would happen is if there was more transparency some of the money, maybe a lot of the money wouldn't be there. They just you know, they would be much harder for to raise money. And so I think that that's more. What what the issue is about the juxtaposition here. The comparison for me is what's going on with this legislation which is has passed the house, but it's going to be held up in the Senate, according to McConnell, and so we're not going to see a legislative change. But we have a number of court cases that have been making their way through the system, including one that is now gotten to the court. Of appeals here in Washington and McConnell filed a friend of the court brief in this case, which showed show that this is potentially a very significant case, and we could have a court ruling that could have a much larger impact sooner than any of the legislation. That's getting more attention. And that's why he's focusing on that that making this argument about retribution. Well, the McConnell have maybe a point here. I am thinking of the controversy of few years back about the IRS auditing, right? Certain conservative groups remember that. Yeah. And there there is a legitimate. I mean, the supreme court actually recognized in the Buckley case, which is his back to the seventies was the big the big supreme court case on campaign, finance the supreme court said that it is possible that you could have people that would be physically threatened. If it became known who, you know, who they were supporting politically and the the case. The example that the supreme court pointed to and and that was followed up on later was the Socialist Workers Party a party that supported, you know, very radical ideas and didn't want their supporters. No because they said they would lose their jobs. They could be physically threaten. There are other cases that go back to the sixties with the NWEA CPI where the courts have said, the, you know, there are some groups that would their supporters will be so threatened. That we really ought to protect you know, who they are. The question is whether billionaires and big companies supporting politicians today are really in the same position as those supporters of the N double ACP in the desegregation struggles of the sixties. And I think you'd have a lot of people that would say some of these wealthy people that are putting up money to influence our politics. They really ought to be known and the consequences to them are not as great as they as they would make them out to be like going on their Bloomberg government senior editor for money and politics, Ken, Doyle, always thanks so much. Well, that wraps up this week show for more government of national affairs. News from Bloomberg visit of.
"bloomberg news" Discussed on Bloomberg Radio New York
"Vince, Bloomberg news global, macro strategist little funky town. I think we might have a little bit of a funky town here today. You know, you mentioned Charlie Pellett probably an apology because there are many times that I shout. His name in vain is I'm going to the subway and I hear Mina closed doors, Charlie doors. Well, we got lots going on US China trade we do expect to hear from the president. And of course, our big stock and corporate business story Kraft Heinz shares plummeting the most on record big big right down. So we'll kick things off with that just a moment. But let's get to the voice of funky town. Charlie Pellett, right stand. Clear the running bowl, please. We've got the Dow the s&p NASDAQ stocks surging on this Friday on track for another winning week four in a row right now, we've got stocks rising along with treasuries as investors await results from top level trade talks between the US and China the dollar falling but the s&p up fourteen now of five tenths percent. The Dow off the highs of the day off one fifty five up six tenths NASDAQ up fifty five that's a gain of eight tenths of one percent. Tenure of twelve thirty seconds yield two point six four percent. We've got gold up five tenths now thirteen thirty sand. West Texas intermediate crude oil up five tenths of one percent Fifty-seven twenty-six a barrel. I'm Charlie pelletan. That is a Bloomberg business flash. Yes. Indeed. Charlie pellett. Thank you so much. I'm Carol Massar offense. Cigna rela in for Jason Kelly. On this Friday, as I just said, I forgot my password. So I'm having trouble. This is what happens when you change it, and I make it complicated. Vincent Morello, though. We did hear Charlie talking about rally underway next rally, and one of the things that striking today is that we're seeing a rally in treasuries and stocks at the same time and just makes me feel one's going to happen. Is going the wrong way. And I'm going to let Gina Martin Adams tell me which way is going because she's much better equities than I am going to say, we we usually talk about the show of it. But let's get right to the markets because we do have gene in the house with us a Gina Martin Adams is here along with our Dave Wilson. Of course, Gina is our Bloomberg intelligence chief equity strategist, and we've got our Bloomberg stocks editor Dave Wilson as Gina. What's going on here? I've been reading your research because you've been talking about earnings kind of here to hitting a trough. Yeah. That may be a good sign. Well, I think that that's a lot of the reason the explanation for why stocks have rally this year and nobody's talking about it typically years in which earnings trough are great years for stocks because stocks are forward looking right. Peak as we learned again last year years in which earnings peak are not such good years for socks. So I do think that as we've gone through earning season analysts have just pummeled expectations for next quarter earnings growth, that's creating a natural trough. We probably need to see some confidence develop that that is indeed the trough it's not gonna persist throughout the year before we get a lot of optimism evident in the equity market. But I do think that just finding a trough can be an under appreciated aspect of what's driving prices. Where does that optimism come from? Is it come from trade to we see it from president Xi? President Trump supposedly meeting now potentially in mar-a-lago in in March. It seems to me it has to come from external sources right trade is part of that story because the weakest part of the earning stream by far the multinational companies those with dollar exposure, those that have exposure to China those that have exposure to Europe are under performing the rest they've been responsible for the the bulk of the dragged down in revenue expectations. So that would imply that in order to get confident about the outlook. We probably need to see a little bit of confidence in the non domestic outlook form, and that comes from anything from trade to just getting past Brexit to possibly an ECB ease or something to stimulate better growth. And in Europe. I think it's got to come non-domestic speaking about external growth, you mentioned this like I believe last week that the stocks in Europe. Relative value. I believe to the are overvalued versus stocks in order to stop stocks that have a relationship with China are undervalued hasn't. That's still the case. And that's the way the money's to be made. Maybe yes, it's still an incredible discount relative to their ten year averages. Anyway, for the stocks with the most exposure to China. Less of a discount or less of a premium now for stocks with exposure to Europe, but still somewhat a premium. So that's I would say that that is. And unique divergence has gone on. The earning stream is investors are still bidding up the value of companies that do have a bit of exposure to Europe. They have completely given up on the China story. It may be wide trade seems to be such a sensitive issue. It seems to be that the companies that are most exposed to trade or starting to perform quite a bit better. And they are also incredibly discounted. And I have to say I'm blown away by how the sentiment goes from kind of positive too as we saw in December everything falling off a cliff, and I feel like everybody starting to talk recession and earnings coming down. And then we're kind of making our way back, right? And it happens very much in extreme ways. Right now, it does which if you look historically. It when you have corrections like that, the the bounceback is always extreme. I looked back at the twenty eleven correction of twenty percent and the twenty fifteen twenty sixteen correction of more than fifteen percent in the S and P five hundred and in both of those instances, you went over just a period of weeks from less than two percent of names on the s&p five hundred trading above their fifty day moving average to ninety five which is and that's the scenario that we're in right now, we're getting really close to that ninety five number which makes me think the market probably gets a little exhausted in the near term. Maybe we see a little bit of sideways consolidation for the recent games. But it's quite normal. Charter today's talk about the ninety percent figure that it was getting people's attention. But let's talk about what's ahead for earnings because the idea of the trough is there if you look at the numbers first quarter looking like the worst based on what analysts are predicting for companies and the S and P five hundred and you do see things go up as the year goes on with the fourth quarter being real resumption of growth. But there are two things that you can also say the kind of run counter one is that the estimates are still coming down for this year. First quarter, you now looking at close to a three percent drop in s and p five hundred earnings, and the second thing is if you work at least in my experience, there's a horrible optimism that gets baked in the fourth quarter figures, and they don't always pan out the way the analysts are in -ticipant eating. So how much of a truck there might be this year is still up in the air. Air. I can't also I have a feeling that like CEO's right now are taking advantage of the opportunity to save. If they're worried about things, let's just throw it out there right now. Right. And let's over performer outperform later on. But I do feel like people are kind of piling it on the old kitchen sink approach when it comes to their results may very well be the case. Yeah. Why not take advantage, right? The sentiment is things are terrible cell. Okay. Yeah. Things really are terrible. That way we lowered expectations lower the bar. Give ourselves a little wiggle room. Gino, you said you looked at cycles, and I do feel like and we had a question come up. I did something for business. We kind of a a webcast, and we were talking about the housing market specifically, but they did talk about maybe our cycles have changed since the financial crisis for different reasons. I don't know whether there's more transparency in the markets, but our cycles have they changed. So I take issue with the word cycle. Okay, instances, right. Which is why we get earning cycles. All we're looking at her peak to trough earnings changes and trough Topeka earnings changes. And that defines the cycle for us. Right. An economic cycle is very different than a market cycle market cycles are tend to be many market cycles within one big economic cycle. So I think we have to define what is a cycle. If we're talking about the economic cycle because we're talking about the housing market. You know, I think what makes an economic bust which everyone's been looking for is usually an economic boom in that instance, we have had no boom. So therefore when is the bus going to occur is a big question Mark, and that is the characteristic that defines this cycle differently than other cycles. You always have an excess Bill at the end of a cycle that you need to correct from. And that's what a recession is. Right. So we're all on guard for whereas the excess developing many people have pointed to the financial markets as the area of excess yet would the economy seems to be remarkably stable, so that I think proves the case that the financial markets in the economy are not the same thing. Right. They run on different cycles, they run on different time periods, and they may coincide occasionally, but not all the time. We gotta run love talking with you Gina Martin Adams chief equity strategist at Bloomberg intelligence and love talking with Dave as well. He'll be back a little bit later on. He's our stocks. Editor at Bloomberg news. Let's.
"bloomberg news" Discussed on Bloomberg Radio New York
"The bond market for Bloomberg news. This is a Bloomberg stocks are higher as hiring had another milestone in January notching a record one hundred months of gains. January's payrolls grew by three hundred four thousand both the US and China cited progress at high level trade talks this week. However, they stopped short of announcing a breakthrough that would end the conflict Treasury Secretary, Steve Mnuchin and US Trade Representative Robert lighthizer will visit Beijing mid February to hold the next round of talks citgo is said to have hired lawyers help away options that may include bankruptcy. Although we're told chapter eleven isn't high on the list citgo is Venezuela's crown jewel in the US. But his cotton sanctions against majority government. It says it has no current intention of entering insolvency proceedings. And that last year saw some of its strongest earnings in a decade and spending bake for the big game the national retail federation says spending on the Super Bowl. We'll hit fourteen point eight billion dollars a little less than last year. But still the third highest ever corny on hope Bloomberg radio. So I'm a cat, and I just moved in with this new human, and she's got this little toy. She's always playing with all day, long, tap, tap, tap, bloop, bloop. She can't put it down there. It is. Oh, get this. She even talks to it last week. She has to for Chinese and guess what eggrolls showed up like magic. Humans have cool toys. A person is the best thing to happen to a shelter pet. Be that person. Adopt. Brought to you by the Ad Council and the shelterpetproject dot org. The.