19 Burst results for "Brad Siegel"
Bloomberg Radio New York - Recording Feed
Monitor Show 18:00 08-19-2023 18:00
"Appeal to the Fifth Circuit, which is considered the most conservative appellate court in the country. So we'll see what happens there. Thanks so much, Shao. That's Professor Shao Wang of the University of Virginia Law School. And that's it for this edition of the Bloomberg Law Show. Remember, you can always get the latest legal news by listening to our Bloomberg Law podcast, wherever you get your favorite podcasts. This is Bloomberg Law on Bloomberg Radio. I'm June Grosso. Stay with us. Today's top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. Southern California is preparing for the arrival of Hurricane Hillary, which is now a Category two storm. Officials in the region say they are working hand in hand with FEMA as the storm approaches and the National Guard has been called in. Hillary will hit Southern California and the rest of the Southwest as a tropical storm probably early Sunday. The White House says President Biden is getting constant updates and is working with Governor Newsom. A storm of this magnitude has not made landfall in Southern California since 1939. Forecasters warn it's likely to cause catastrophic and life threatening flooding over the region and the southwestern U .S. through Monday. Former President Trump is reportedly planning to skip the upcoming Republican debate and instead will be interviewed by Tucker Carlson. The debate hosted by the Republican National Committee will air Wednesday in Fox News. The New York Times says Trump, the GOP front runner, has an interview lined up that same night with Carlson. Trump previously signaled he might not take part in the debate as polls show him holding a huge lead over his 2024 GOP rivals. The suspect in the murders of four University of Idaho students is fighting evidence from prosecutors. Brad Siegel has more. In a hearing Friday, defense attorneys for Brian Koberger had witnesses testify about DNA evidence and genealogy testing. Detectives use genealogy tracing to identify Koberger as a suspect in the murders.
Bloomberg Radio New York - Recording Feed
Monitor Show 14:00 08-05-2023 14:00
"Going forward. Jonathan Levin is a Bloomberg opinion columnist, and that does it for this week's Bloomberg opinion. We are produced by Eric Mollo, and you can find all of these columns on the Bloomberg terminal. We are available as a podcast on Apple, Spotify, or your favorite podcast platform. Stay with us. Today's top stories and global business headlines are coming up. I'm Amy Morris. This is Bloomberg. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. A federal judge is giving former President Trump till Monday to respond to special counsel Jack Smith's motion for a protective order. Smith filed the motion Friday night after Trump posted on Truth Social, quote, "'If you go after me, I'm coming after you.'" The post appeared one day after Trump was indicted on four counts related to his alleged efforts to overturn the 2020 presidential election. Smith wrote in his filing that public posts by the former president about the case could have a harmful chilling effect on witnesses or adversely affect the fair administration of justice. The former president has until 5 p .m. Eastern to respond. Two Florida police officers were shot on Friday night. Brad Siegel has details. A manhunt underway in Florida where two police officers were shot during a traffic stop. Orlando Police Chief Eric Smith says the officers stopped a vehicle that had been carjacked when the suspect opened fire. Shortly before 11 last night, the officers are in critical condition. Seven people are critically injured after a school bus filled with teenagers crashed in Idaho. The Idaho State Police Department says the bus was taking a group of children ages 13 to 18 to a YMCA summer camp when it crashed at around 3 p .m. Friday on Highway 55 north of Boise.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Military aid to Ukraine to $29.3 billion since the war began. I'm Lisa Taylor. The Pentagon says a second Chinese spy balloon is currently moving across Latin America in a statement to CNN press secretary Brigadier general Patrick Ryder, confirmed that following reports of a balloon in Latin America that was assessed to be another Chinese surveillance balloon. It's unknown where in Latin America that balloon is, but it doesn't appear to be moving toward the U.S.. The news comes as the first balloon, which The Pentagon said doesn't pose a current threat to the U.S., continues to move across the country toward the east coast. President Biden says the state of the economy is strong, he said his administration has created 12 million jobs since he took office. The president highlighted the January jobs report out Friday, which shows there were 517,000 jobs created last month, with leisure and hospitality leading the way. Economists expected just 187,000 positions to be added. The Powerball jackpot keeps growing, it's now reached $700 million ahead of tonight's drawing no one was able to pick all 6 numbers in Wednesday's drawing. I'm Brad Siegel. Officials in Monterey Park, California, are looking into a permanent memorial to honor the victims of last month's mass shooting, Matt Matson reports. Pasadena star news reports that officials are looking at all options, but there's no word on where it could be located. Mayor pros and Thomas Wong said artists locally and around the globe have reached out for a potential plan, but he noted supporting the victims is the number one goal right now. Meantime, it's unclear on the future of the star ballroom dance studio, which is where the shooting took place. The owner of the studio said she's still in shock and it's hard to think about continuing classes. The massacre left 11 people dead and 9 wounded. I'm at mattson. COVID emergency declarations will end dismay, but experts say the virus hasn't gone away. We're still around 500 deaths every day, which okay is not the two to 3000 deaths, but it's still a leading cause of death. Baylor infectious disease expert doctor Peter hotez worries that ending the declaration sends the wrong message. Few Americans are getting the booster shot and with this week's announcement, he says immunizations will further decline. The American Red Cross now offering new incentives in hopes of getting more people to roll up their sleeves and donate blood. It says anyone who donates in the next few weeks will get a $10 Amazon gift card. They'll also be entered to win a trip for two to Florida, including round trip airfare, a three night hotel stay, and a $750 gift card for expenses. Over 100 House Republicans are voicing their concerns with President Biden's student loan forgiveness plan. On Friday, 126 Republicans filed an amicus brief, criticizing the administration for canceling student loan debt. Biden's plan would offer $10,000 and forgiveness for federal student loans and $20,000 for those who receive pell grants in school so far 6 states have filed a lawsuit against the policy, claiming they'd lose tax revenue as a result. And a new report says hundreds of thousands of migrants who crossed the southern border have been released in the U.S. without being charged or provided a court date that comes from NBC News. I'm
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Ransom. I'm Brad Siegel. Now this Bloomberg sports update at Yankee Stadium, Aaron judge missed out on a chance to break the American League home run record going one for four with a single and two strikeouts with the Yankees managed to pull out a 5 four win over Boston on Jose trevino's run scoring single in the bottom of the 8th inning. It was another Aaron Aaron hicks, who homered in the third and singled home a run in the 5th that gave the Yankees a two one lead in the game for hicks as 100th career Homer. Later in the 5th, the double by claim Taurus and the throwing error allowed the Yankees to take a four one lead. Boston's Alex verdugo tied the game in the 6th inning with a three run Homer. Yankee starter Garrett Cole injected after completing the 6th inning by the home plain umpire has Cole was upset by a missed call. Jonathan low Isaac gets the win and relief. The Met magic number for clinching the national league east down to 9, but Metz defeated Oakland 9 to two while the braves lost to Philadelphia 9 to one, so the mets now have a two and a half game lead over Atlanta in the national league eastern division. Eduardo Escobar with a Grand Slam home run in this game for the mets, and Chris Bassett stopping his former teammates on just two runs over 8 innings, giving him his 15th win of the season against 8 losses. Albert pujol holds the newest member of baseball 700 home run club. Who holds hit the milestone home run in Los Angeles against the Dodgers, joining Barry Bonds, Hank Aaron and Babe Ruth, as the only players to reach the milestone, he hid a 699th home run earlier in the game, with the milestone blast coming in his next at bat. Tennis icon Roger Federer's legendary career now over the 20 time Grand Slam champion lost in doubles with Rafael Nadal at the laver cup in London. The parent were taken down by Frances tiafoe and Jack sock after a furious final tiebreaker. Federer won over 100 singles titles during his legendary career with his 20 grand slams placing him third all time for most one. With a Bloomberg sports update, I'm Tom Rogers
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"20 years. I'm Brad Siegel. And I'm Erica hirschowitz from the Bloomberg newsroom. According to confidential internal reports prepared for the government, Russia may be facing a longer and deeper recession as the impact of U.S. and European sanctions spreads, handicapping sectors that the country has relied on for years to power its economy. The document, the result of months of work by officials trying to assess the true impact of Russia's war on Ukraine, paints a fart, more dire picture than upbeat public comments. Germany announced today will keep two of its three nuclear plants available for power production as part of a reserve scheme recommended by power transmission grid operators that stress tested electricity supply. It's a reversal of the long planned shutdown of the facilities, Germany's economy ministers say the move is so the government can act if worse comes to worse, but it still remains committed to the nuclear exit. The car accident over the weekend that killed Cyrus mystery, scion of one of India's best known business families, has reignited concerns about the poor state of India's roads identified by the World Bank as the world's deadliest. Mystery, who was 54 died Sunday when his car hit a divider on a bridge. Crude oil futures are trading higher that after OPEC plus agreed to cut production next month, more from Bloomberg's Denise Pellegrini. Erica, the group has agreed to cut production by a 100,000 barrels a day next month. Now some are calling this a token amount, but although it is small, it does reverse the production increase that the group agreed to last month, and in its final communicate today, the oil cartel is also saying it would be willing to call another ministerial meeting at any time to address market developments. The next scheduled talks are October 5th, Erica. Let's take a check at the global markets, the FTSE in London rose 9 hundredths of a percent, the cac in Paris fell 1.2%. The Dax in Germany lost 2.2% that he came in Japan dipped one tenth of a percent, the hang seng in Hong Kong fell 1.16% and China's CSI 300 lost two tenths of a percent. 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. America her skits. This is Bloomberg
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Used to protect themselves. I'm Brad Siegel. And dive to these Pellegrini in the Bloomberg newsroom. Investors will be eyeing next week's U.S. jobs report for signs of economic weakness. That's after fed chair Jay Powell yesterday signaled another interest rate hike next month, and more after that, even if the economy slows. Failure to restore price stability would mean far greater pain. And Bloomberg's Michael McKee says Paul's comments at the federal reserves annual symposium injects in whole Wyoming are pretty clear. We'll keep raising rates until inflation starts to fall and will leave them high to ensure it keeps falling even if we tip into recession. Okay, that may be a little harsh. Message, we're staying the course. And the key says Paul's comments were greeted positively by other fed members, including Cleveland fed president Loretta mester. I think that was a very strong message and I'm certainly aligned with that. And also St. Louis fed president James bullard. You have to follow through and get the funds rate to a level that's defensible. And Philadelphia fed president Patrick harker. I think the message is for me that we need to get inflation under control. Investors are now bracing for a sizable hike in September and then more rate hikes after that. And Russia has blocked an agreement that was aimed at bolstering the nuclear non proliferation treaty as we've been reporting. At September Moscow objected to a clause about control over the zapper region nuclear power plant in Ukraine. Argentina ambassador Gustavo's Lebanon, president of the conference. I see that at this point, the conference is not in a position to achieve agreement on it sustained work. In order to finalize the procedural reports, we need to return to the issue of the next review cycle. And the failure comes after four weeks of debate and negotiation among a 151 countries at the United Nations. Global news 24 hours a day on air and unbilled quick take powered by more than 2700 journalists and analysts and more than a 120 countries. In the newsroom I'm Denise Pellegrini. This is Bloomberg. This is masters in business with very red holes on Bloomberg radio. I'm Barry Rudolph, you're listening to masters and business on Bloomberg radio, my extra special guest this week is Eric belt junis. He is the senior ETF analyst for Bloomberg news. He is also co host of ETF IQ on Bloomberg television and he hosts a podcast called trillions with Joel Weber, Ellen chief of business week. He is the author of several books, most recently, the bogle effect, how John bogle and Vanguard turned Wall Street inside out and saved investors trillions. Eric bell Tunis welcome to masters in business. It is a pleasure to be here, Barry. It's like a home game for me. I just walked like ten feet here. Right, I texted you and said, come down to 5. Time to start. All right, so let's get serious now. How did the expertise in ETFs and pass some investing come about? When I was a Bloomberg PR, I was looking to change gears in life anyway. I was about 27. So I moved back to south Jersey, and I transferred to the Princeton office of Bloomberg. And when you do that, I still think I'm the first person ever in the history of this company to go from PR to data. That's all they do in Princeton is data and engineering. But I was like, well, I don't want to commute to New York every day from south Jersey. So I'll take a job here. So they looked at my background and said, why don't you go work for funds data? So I got to work where they make the terminal. It's like the keebler elves. So I've seen how the terminal is made. Where all the data comes from and I basically had to work on getting fund information from the prospectuses as before technology was really that great. Put them into fields. Yes. We automated it as we went. We were always looking to automate. And so when you pull up a Bloomberg and you type in the fidelity Magellan fund and then you type DES, all that information there. Is really what we did. And so I was doing that in 2000, 2000 or 2002, three, four, and in 2006, I got a hand at ETFs. They're like, you work on ETFs now. And I was like, I had heard of them, but I was still and let me just jump in. So the spiders had been around at that point in time. The S&P 500 spiders by state street, they had been around. It's 93. Yeah, a couple of decades. And other companies had moved into the space. And I just was having this conversation with some of the other day. Was Bloomberg late to ETFs. They weren't the first one, but they certainly didn't lag. It's a great question. So Bloomberg covers everything. Right. And if a ticker is on the exchange, it's on the terminal. So we had ETFs from day one. Right. But did we care about them? Did we put a lot of resources into them, not really? They were still small back then. And I think that's maybe part of my legacy if there is one here, in 2006 7, I was like, oh my God, I was like kicking the tires on ETFs and I'm like, these things are going to take over. They're too good. To value is too strong. So I just was like, I'm like dove headfirst into ETFs. And I went to index universe conferences, started listening to their podcast with your friend Dave nadir, Matt
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"I'm Brad Siegel. Now this Bloomberg sports update, leaving a lot of runners in scoring position is an easy way to lose a Major League Baseball game. The Yankees proved it last night. They moved out to a three nothing lead on the Orioles, but the O's came back and won it. Final score 6 three. How about this stat New York one of 14 with runners in scoring position? That's all you have to know Matt Carpenter and Aaron judge had good nights offensively Garrett Cole takes the loss to fall to 9 and three and the Yankees have now lost 8 of their last 12. They'll wrap it up in Baltimore today, dean Kramer against Nestor Cortez first pitch is at one 35. Things not much better for the mets. They were home against the Padres. They had even less offense than the Yankees did. How about a two run Homer by Manny Machado in the 6th inning and that was all the Padres would need. Mets got one run in the 9th, but could not come back and tie the game final score two to one and the mets lead in the national league east is shrinking considerably. Back on June 1st, it was ten and a half games. Now it's just a half game on the Atlanta Braves, so they'll try and turn things around the wrap up in this series is tonight at 7. Carlos Carrasco against Joe musgrove. News for Vince McMahon. He is announcing a full retirement from the WWE amidst the misconduct investigations. So the organization he has lorded over for several years, he is now stepping away from completely WNBA basketball in New York liberty with a dramatic win over the Chicago sky final score 83 80 on a last second basket and that ends the liberties losing streak at 5 games. That's your Bloomberg sports
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"A coronary artery disease. I'm Brad Siegel. Now this Bloomberg sports update, not a great night for the Yankees or the mets last night. Yankees were in Baltimore, continuing their weekend set with the Orioles, things started great for Garrett Cole. He was pitching well, Aaron judge and Matt Carpenter hitting well, judge with a couple of RBIs and four hits on the night Carpenter with a solo home run that pushed New York out to a three zero lead, but that's where the good times ended. The Orioles would run off 6 unanswered runs and Garrett Cole would take the loss in a 6 three final Garrett's record on the season falls to 9 and three and the Yankees. They've now lost 8 of their last 12. They'll try to win the series ender today with dean cremer against Nestor Cortes at one 35. Not much better for the match. They were home against San Diego, Padres only needed one big hit from Manny Machado. That was a two run Homer in the 6th inning off of Chris Bassett, final score two to one, Metz had a late surge with one run and runners on base in the 9th inning, but they end up losing by that two to one final score. Their lead in the national league east is shrinking quite a bit. It was ten and a half games on Atlanta back on June 1st. Now it's down to just half a game. They'll play tonight in the series wrap up Carlos Carrasco against Joe musgrove at 7 p.m.. Big news and wrestling Vince McMahon who has spearheaded WWE's efforts over the last several decades announcing a full retirement amid misconduct investigation. So he steps down from the wrestling empire that he built, WNBA basketball, what a night for the liberty at home against the best team and they beat the Chicago sky with a late basket 83 80 is your final score and that ends the liberties 5 game losing streak. That's your Bloomberg sports update. I'm Dan gotta ski
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Radio Now a global news update The U.S. and South Korea planned to hold talks on restarting joint military drills in response to the north's nuclear program President Biden and South Korean president yeun announced the agreement at a news conference in Seoul when asked by a reporter if he was willing to meet with North Korean leader Kim Jong-un Biden said it would depend on whether he's sincere Biden is holding talks in South Korea on his first trip to Asia since taking office The Biden administration is appealing a decision to keep title 42 in place for now in a statement White House press secretary karine Jean Pierre said the authority to set public health policy nationally should rest with the CDC not with a single district court this comes after a Louisiana judge kept an injunction in place for the policy that's been used nearly 2 million times to deny migrants from seeking asylum in the U.S. due to COVID restrictions If the injunction was lifted the Biden administration was expected to end title 42 at any time The school district of Philadelphia the 8th largest district in the country will require masks again Brad Siegel has the latest Starting Monday and continuing until further notice all students and staff will be required to wear masks during the school and work day as well as when riding in school buses and other district vehicles The district cites rising COVID-19 cases for the requirement superintendent doctor William height in an email said as we've learned since the pandemic began the coronavirus continues to evolve and so too will our response to it The move is designed to help protect everyone's health and well-being as COVID-19 case counts continue to rise in Philadelphia Schools originally rescinded the mask mandate on March 9th I'm Brad Siegel Clean up and damage assessment is getting underway after a deadly tornado touchdown in northern Michigan state police say two people were killed and more than 40 others injured after.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"The company is pushing to continue that growth as it expands into fitness and furniture categories Former president Trump's efforts to get back on Twitter are reaching another roadblock Brian shook reports On Friday a judge dismissed Trump's lawsuit seeking to get back on the platform However the San Francisco judge did make it so the ex-president could amend his complaint against the social media giant Trump got booted from Twitter just days after the January 6th attack on the U.S. capitol Trump sued which he filed with the American conservative union and 5 individuals claimed Twitter and its cofounder Jack Dorsey violated their First Amendment rights I'm Brian shook Coffee bean shipments delivered to an espresso plan in Switzerland contained more than 1000 pounds of cocaine authorities seized more than $50 million worth of drug company officials say that drug did not come into contact with any products or equipment I'm Brad Siegel And I'm Susanna Palmer in the Bloomberg newsroom New York City's subways have finally regained ridership levels seen before omicron took off in early December More from Bloomberg's Denise Pellegrini Susannah this recent surge it really does reflect a new pandemic high with MTA data showing there were 3.5 million subway trips on Thursday And that does top the previous COVID era peak on December 9th of 3.42 million It's worth noting no this is all still below the 2019 weekday average of 5 and a half million writers The MTA of course needs to bring these writers back after the pandemic slash revenues Susanna Bloomberg Denise Pellegrini reporting Former Federal Reserve vice chair for supervision Randall quarrels says it's unlikely that the Federal Reserve will be able to bring down inflation without at least a small recession He says the fed should have moved earlier to raise interest rates I think the fed's actions were reasonable up through the middle of the summer through the summer of 2021 I do think that by September it was becoming clear that this was not primarily a supply chain disruption driven inflation It was a overstimulated demand driven inflation Quarrels spoke with Bloomberg's Michael McKee at the Hoover institution monetary conference at Stanford University yesterday The stock market ended bumpy week with its 5th straight weekly decline This as investors worry that the Federal Reserve may not succeed in engineering a soft landing for the economy Anastasia amoroso is chief investment officer at I capital So if you look at the NASDAQ for example it's not your chief yet If you look at the S&P it's not screening incredibly chief either So it's really difficult to step into the broader indices for the week the S&P 500 fell two tenths of 1% The Dow fell two tenths of 1% as well in the NASDAQ dropped a one and a half percent this week Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Half million children have fled Ukraine the United Nations Children's Fund issued that estimates Saturday after Russia began its invasion into Ukraine late last month the agency is warning the massive displacement of refugees could lead to a significant spike in human trafficking UNICEF said between February 24th and march 7th more than 500 unaccompanied minors were found fleeing into Romania The agency noted the actual number of children fleeing is likely much higher Norwegian police are confirming that four U.S. Marines have been killed during a NATO training exercise The movement of American troops within the country was not a response to Russia's invasion of Ukraine but part of a Norwegian military exercise the service members were on board an Osprey aircraft assigned to a marine expeditionary force that crashed Friday while The Pentagon has yet to confirm the deaths U.S. ambassador to NATO Julianne Smith tweeted her condolences Saturday to the families of the service members involved New research shows a big jump in alcohol related deaths in the United States during the first year of the coronavirus pandemic Brad Siegel reports A study from the journal of the American medical association says from 2019 to 2020 the death toll in that category rose over 25% On average that rate has been at just over 2% from 1999 through 2017 Lead author of the study doctor Aaron white called the data unfortunate but also not surprising since people tend to drink more when they're under duress the spike in the first year of the pandemic was seen across all age groups the largest change was among 35 to 44 year olds I'm Brad Siegel Gas prices are on a slight decline across the country triple-A reports the current nationwide average for a gallon of gas is $4 and 26 cents That's down from last week's average of $4 and 32 cents However the cost is much higher now than it was a year ago This time in 2021 gas was an average of two bucks and 88 cents Gas prices have soared since Russia's invasion of Ukraine I'm Chris karashi.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Congress has died representative Don young died Friday while traveling home to Alaska There's no word on his cause of death but young was gearing up to launch a reelection campaign He was 88 years old New research shows a big jump in alcohol related deaths in the United States during the first year of the coronavirus pandemic Brad Siegel has more A study from the journal of the American medical association says from 2019 to 2020 the death toll in that category rose over 25% On average that rate has been at just over 2% from 1999 through 2017 Lead author of the study doctor Aaron white called the data unfortunate but also not surprising since people tend to drink more when they're under duress The spike in the first year of the pandemic was seen across all age groups the largest change was among 35 to 44 year olds I'm Brad Siegel Paul Dano is writing a comic book based on the riddler Has more Dano who played the villain in The Batman this year we'll dive into the origins of the character in a comic book titled riddler year one DC Comics announced the news on Twitter teasing the comic with a first look image featuring the character's glasses on top of some scattered papers Dano's debut into comic writing will release in October A movie about the classic childhood toy play doh is in the works The animated flick has crazy rich Asian director John Chu and the big 6 screenwriter behind it In a joint statement the pair said they are excited to present a moldable pliable iconically scented story about the importance of imagination I'm Julie Ryan And I'm Susanna Palmer in the Bloomberg newsroom Governor Kathy hochul announced today that COVID related hospitalizations in New York State are at their lowest point since August 3rd According to the latest numbers released by the governor's office the number of people hospitalized with COVID-19 dropped by 53 over the past day to 925 5 COVID deaths were also announced today New York City's new health commissioner doctor ashwin vasan says that the city's private sector vaccine mandate will remain in place indefinitely Doctor Vaughan said he was also keeping the cities mask mandate for children under the age of 5 in place until further notice He spoke at a briefing on Friday The news comes as concerns continue to grow over the new omicron sub variant BA two which now accounts for about 30% of new COVID cases in New York City I understand New Yorkers concern given where we've been over the last two years and successive waves that rising cases in other parts of the world would lead to anxiety That's completely understandable The new health commissioner also urging New Yorkers to get boosted if they are eligible Just 36% of New Yorkers have gotten a booster despite it being available for months Former treasury secretary Larry summers says the Federal Reserve will need to raise interest rates higher than officials are currently thinking to control inflation When inflation goes up if you just raise interest rates as much as inflation went up then you're not changing real interest rates at all If you want to tighten policy you have to raise interest rates by more summers says an interest rate of four to 5% is more likely he was interviewed on Wall Street week on Bloomberg radio 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 susannah Palmer This is Bloomberg This is balance and power with David Weston The state of America and energy is strong Our nation has the resources and the expertise to meet our energy needs Eventually we'll end up with a vaccine that will be able to do better against multiple variants Where the world of politics meets the world of business The fed has to raise rates And by the way that's a good thing The cause of inflation has been this historic pandemic which is upended life in so many different ways in particularly has upended America's supply chains Balance of power with given Weston on Bloomberg radio Coming up this hour judge kittanji Brown Jackson heads to Capitol Hill for hearings on her nomination to the Supreme Court.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Brad Siegel And I'm Susanna Palmer in the Bloomberg news room New York and New Jersey officials are preparing for a possible spike in coronavirus cases because of the new BA two omicron sub variant as we've been reporting governor hochul is ordering 20 million COVID tests to be distributed to homes and schools throughout New York State Governor Phil Murphy and New Jersey's health commissioner say they will continue to closely monitor virus activity Another inmate at Rikers has died making that too within 24 hours more from Bloomberg's Denny's Pellegrini city officials say that the unidentified inmate died while in a clinic area at the Erica M Taylor center yesterday morning The cause of death is under investigation On Thursday morning DOC officials said Rikers in May George pagan was taken to elmhurst hospital where he was pronounced dead And Friday's death marks the third inmate to die in DOC custody since the start of the year Denise Pellegrini Bloomberg radio Former treasury secretary Lawrence summers says the Federal Reserve will need to raise interest rates higher than officials are currently thinking to control inflation We used to be a 2% inflation country Now we're almost certainly a 6% inflation country and on some measures we're at 8% inflation country And so we've got to raise interest rates by more than four percentage points We got to raise them by 4% to stay neutral Summers says 5% is more likely he was interviewed on Bloomberg television's Wall.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"I'm Brad Siegel And I'm Doug prisoner at Bloomberg world headquarters in New York Let's check this hour's top business stories and the markets crude oil prices are rallying as the market's frets over the consequence of a potential Russian invasion of Ukraine Russia as you know is the a top energy producer globally And worldwide supplies are already extremely tight WTI was up three and a half percent in the New York session on Friday and right now We are higher by 1.7% at 94 70 U.S. private equity giant Blackstone has won its pursuit of crown resorts It was on Monday that the troubled casino operator accepted Blackstone $6.4 billion bid right now shares in crown resorts in Australia trading higher by 2% Lockheed Martin has terminated its plan to acquire aerojet rocketdyne this decision follows an antitrust lawsuit filed by the Federal Trade Commission in late January the FTC at that time said that Lockheed could use control of aerojet to harm rival defense contractors and further consolidate markets critical to national security and defense Markets right now seem to be a little divided on the outlook for fed rate hikes It's an open question as to whether or not we're going to see a 50 basis point move in March today fed president Mary Daly of the San Francisco fed told CBS its Paramount for the fed to be measured and data dependent as it begins lifting rates to ensure stability Long-term interest rates moving a bit higher the ten year treasury and the Tokyo session at 1.95% Right now in the equity markets we've got the nikkei down 2.6% hang seng off more than 1% the Cosby is down one and a half percent Shanghai composite off four tenths of 1% but the ASX 200 is higher by 6 tenths of 1% Global news 24 hours a day on air and on Bloomberg quick take This is Bloomberg This is Bloomberg intelligence The new pools that a metaverse can bring allows you to create more immersive content Companies are beginning to sell less oil more electrons Research and data on 2000 companies and 130 industry The supply chain breakdown is combining with labor.
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"Play in this year's winner games the three time Olympic medalist had tested positive for COVID shortly after arriving in Beijing but has since provided to consecutive negative tests Myers will compete in the women's mono bob on February 12th Airlines are canceling flights again today as the U.S. deals with the impacts of a winter storm Flight away reports over 1400 flights canceled Saturday within in tour out of the U.S. This comes as more than 3100 have been delayed Dallas Fort Worth international airport is being hit the hardest with nearly 30% of its flights for Saturday canceled U.S. troops are in Eastern Europe as tensions grow between Russia and Ukraine President Biden deployed troops to Poland and Germany in response to the threat of a Russian incursion into Ukraine Their arrival comes amid reports that Russia now has enough troops tanks and military hardware poised along Ukraine's borders to launch a full scale invasion I'm Brad Siegel And I'm Susanna Palmer in the Bloomberg newsroom Mayor Eric Adams apologized Friday after a 2019 video surfaced showing him using a racial slur for white people when talking about the New York police department The video first reported by the New York Daily News shows Adams whose black speaking at a private event in December 2019 during the early stages of his mayoral run Adams was asked about the video at a news conference Friday and said that he wanted to definitely apologize for his remarks and called them inappropriate Delta Air Lines was the U.S. government to use a no fly list similar to the secretive database designed to prevent terrorists from boarding airline flights to block unruly passengers from flying We get more about that from Bloomberg's Charlie pellet Delta CEO Ed Bastian requested the measure in a letter to attorney general Merrick Garland to stem a dramatic rise in air agents over the past year Delta and other carriers have individually barred hundreds of people from flying as a result of misbehavior including assaults on flight attendants and others Charlie pellet Bloomberg radio Two up weeks in a row for stocks and investors are wondering if the trend can continue after big drops to start the year This even as a blowout U.S. jobs report raises investors expectations that the Federal Reserve may soon start raising interest rates sharply Emily Roland chief investment officer at JH investments says markets may be doing some of the work for the Federal Reserve and chairman J Powell We think about the language that Jay Powell has used the job owning that's gone on We're almost getting those tighter financial conditions that the fed wants to see in the form of some of the froth being let out of the equity market For the week the S&P 500 rose 1.5% The Dow gained 1% the NASDAQ up 2.4% this week 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 susannah Palmer This is Bloomberg I'm Barry revolts you're listening to masters and business on Bloomberg radio My extra special guest this week is rip out to Patterson She is the director of investment research at Bridgewater associates the world's largest hedge fund previously she was chief investment officer at best from her trust was she oversaw more than $85 billion in client assets so listening to you discuss inflation I think you approached it in a way very different from what I've been hearing other people talk about You said quote demand shock is what's driving inflation Explain demand shock Sure So when we look at where we are today with inflation in the United States it's very easy to quickly go back to the late 1960s early 1970s and say okay high and rising inflation high gas prices that said that's behind the curve yeah okay There are similarities that are worth noting but back then what was driving the high inflation were supply shortages That was the key ingredient Today obviously there's things on both side of the demand supply equation But the bigger deal is the surge in demand which is just overwhelming the supplies So let me give you a number here to make this feel more real If you look at the supply of goods for U.S. consumers it comes from around the world So produced everywhere in the U.S. and China outside et cetera It's running about 5% above where it was before the pandemic So the supply of goods has increased on that But then look at the demand side the demand from U.S. consumers today is about 20% higher than the end of 2019 And you see similar patterns across a lot of things whether we're talking about industrial metals where supplies today are high but the demand is much higher that's pushing down inventories ships we have more shifts on the ocean today than we did pre-pandemic but it's just not enough Labor markets we've got no shortage of jobs today We just have such high demand for jobs And so yes there are supply constraints here and there I'm not saying there aren't I'm just saying the bigger deal this time and what makes us so different from the 1970s is this absolute boom in demand So let's stick with demand and another comment of yours was witnessing the biggest monetary stimulus outside of wartime Referring to the various cares act The fiscal stimulus is that the key driver of all this demand Yeah well it's the one two punch of monetary in fiscal So Barry when you and I were mirror children it was all about interest rates right The fed was using short term rates to affect economic conditions We'll call that monetary policy one And then in 2008 rates hit zero the fed needs to ease more So then it starts launching more quantitative easing So we call that balance sheet usage plus interest rates MP two when we got to the pandemic okay the fed went big and it went fast We cut rates We did huge amounts of quantitative easing but it wasn't enough to fill the hole in the incomes of the pandemic when we shut down the economy And so fiscal had to play a bigger.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"Poor I'm Brad Siegel You're listening to a special edition of Bloomberg front row I'm Eric schatzker Now the final part of my wide ranging interview with man group CEO Luke Ellis This is where the head of the world's largest publicly traded hedge fund manager weighs in on the mean stock frenzy and the rise of retail trading that we've seen during the pandemic Plus his view on quant strategies Here's that part of our conversation from earlier this year Is there consistent money to be made in quant off the boom in retail stock trading the WallStreetBets phenomenon Well I certainly don't want to pick a fight with our friends on WallStreetBets But I think on average over time the more different players there are in the market the better that is for people like us and the quants and if you look across a wide variety of markets you could see that on average for quants the more retail participation that has traditionally been good for them Clearly there were some people got the wrong side of the WallStreetBets phenomena in the last few months and some of that was mostly that in the end was around some of the discretionary people with over large short positions on individual names I think so I think increased participation is good for us increased volume in markets is good for us increased volatility is good for us We will get used to this idea that there's a sort of incredibly low volatilities And it starts from basic economics That when you have all governments and all central banks following roughly the same policies economic policies And those policies involve very high future transparency about what they're going to do And they are all essentially cooperating which has been really what we've seen for the sort of most of the 20 years of this millennium the first 20 years of this millennium then it's no surprise that we got less and less economic volatility What you've seen starting well you can choose your starting point but I would say starting with trumpism but then certainly exacerbated by what's happened in the pandemic and obviously in the UK exacerbated by Brexit Is that you've got central banks operating very separately to each other governments following quite different policies and so the place where we are in coming out of this virus is very different in different countries and the speed of it working is different And so what countries have done to their balance sheets quite different And so I think both in turn country economic volatility is going to be much higher for at least the next couple of years And that's going to lead two more volatility and markets Does man group have a strategy for trading Bitcoin So yeah we trade the futures and we started to trade the physical the question is how scalable but it's over time how liquid to these instruments stay how long do they stay liquid for One of the things you see is people tend to think that liquidity is a sort of monotonic upswing so that they see something And if it gets a bit more liquid they just assume they don't keep getting and it'll never get less liquid again And what we're seeing in many contracts around the world in different things is they can go through a period where they're super liquid And then they go out of fashion and you don't see them again So a couple of years ago we made a lot of money trading ex futures in China because at one point they were trading I believe $5 billion a day eggs like the thing you bought for your breakfast There was a lot of people speculating in that market It made it a very good market for our models But it didn't last that long before people stopped looking at any went back to being a hedging contract with farmers and suddenly it's not a very interesting market I think one has to temper the excitement about cryptocurrencies and how much you can do in those markets until you could see where there's real liquidity Luke machine learning and artificial intelligence were supposed to revolutionize quant investing but so far they haven't at least as I understand things Why is that When you look at financial markets the vast majority of what's happening is just noise There is an enormous amount of trading of movement in share prices intraday one day to the next even over time which is just noise flowing through the end artificial intelligence has a natural tendency to want to try to create a pattern in everything And so it creates a pattern in the noise but that noise is not very I mean it's not So there isn't a pattern as a short term thing You can apply it many drops of So that's a tough problem for artificial intelligence and machine learning Are you surprised at how poorly some quants even the top tier firms did in 2020 I think that there are two enemies of long-term success in quantum vesting And it doesn't matter how good your brand is because it's not about your brand The first is taking too much money And if you take too much money into a strategy basically what happens is the market finds your footprint and then you're out that turns into a risk not a lot of the source of return And secondly if you don't continuously invest it's very easy to come up with some good ideas raise money sit back and count the pennies and start deciding whether you want to buy yourself a plane or a boat The trouble is markets are continuously evolving And competition is continuously trying And so if you're not consciously trying to innovate and you're not investing in that innovation then what will happen is your alphas will decay suddenly you're left with a whole lot of money without answer and then you end up making some big losses Quite however can be confusing if we looked at it as a spectrum And at one end of the spectrum I'll put renaissance technologies The firm founded by Jim simons And at the other end of the spectrum I'm going to put a QR run by cliff fastness Where does man group fit in between them We would love to be a 100% idiosyncratic alpha It's just incredibly hard And you always find a certain amount of factors to slip into what you're doing And we have the longest and most successful track record in momentum investing in futures markets and why wouldn't we continue doing that It would be sitting to stop it So I think on your spectrum we would be 70 or 80% down towards the end that would have a medallion in a two sigma and less so at what I would think of as more the actual average water end It makes me wonder why hasn't man group used its technological prowess to build a business in passives You could We could I think two things to it One is you know it's an Uber scale business And maybe we could or should or would have done that 15 20 years ago and the man had the cash on the balance sheet to buy BGI when bankrupted and past and BlackRock one right That's kind of what a shoot at.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"This is Bloomberg radio Now a global news update The first witness has testified in the civil lawsuit against the organizers of the deadly unite the right rally in Charlottesville Natalie Romero testified in a Virginia courtroom Friday and said the attacks by angry white nationalists at the 2017 rally left her physically and emotionally scarred Romero was part of a counter protest in downtown Charlottesville when she was struck by the same car that killed counter protester Heather heyer Witness testimony continues Monday Investigators in Oklahoma say the man who shot a palawan county sheriff's deputy has been found dead himself along with the suspect's wife Deputies were called to a house near Oklahoma City on a domestic dispute Friday when they say braid and chess are open fire one of the deputies was hit 7 times and is now hospitalized Deputies later found Cheshire dead near the house and is estranged wife Sarah dead inside the home In Northern Virginia malls and shopping centers are reportedly on alert for a potential security threat from ISIS Brad Siegel explains Police near the Washington D.C. area say they're ramping up security over the Halloween weekend though a link to ISIS has not been confirmed Fairfax county police chief Kevin Davis said Friday they've increased police presence throughout the county including at malls shopping plazas and transit hubs the Department of Homeland Security's intelligence chief said this week they've been seeing a dramatic increase in online activity associated with Al-Qaeda and ISIS I'm Brad Siegel Former president Trump is cheering the announcement that Republican congressman from Illinois Adam kinzinger will not seek reelection Kinzinger has been at times a harsh critic of the ex-president Trump put out a statement saying two down 8 to go a reference to the ten House Republicans who voted to impeach him following the January 6th attack on the capitol and the Atlanta Braves are two wins away now from their first World Series title in more than two decades on their way to a two nothing shutout of Houston's Astros last night the braves didn't allow one hit in game three of the series until the 8th inning Game four is tonight I'm Scott Carr A capital police officer is resigning after being charged with helping one of the accused January 6th rioters evade the FBI Michael Reilly had been on suspension Riley spent more than 25 years on the capitol police force He's accused of deleting communications with the riot suspect on Facebook now Mehta the two men were friends on the platform and belonged to some of the same groups Virginia's governor's race is this Tuesday Democrat Terry mcauliffe and Republican Glenn youngkin are in a tight race several issues around the minds of voters including gun control and education My kids.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"The Sacramento river A tardigrade fossil found within a piece of 16 million year old Dominican amber as the third ever discovered Researchers called it a once in a generation discovery Microscopic tardigrades also known as water bears were around long before humans and have outlasted 5 mass extinctions I'm Brad Siegel And I did these Pellegrini in the Bloomberg newsroom as we've been reporting and investigation is underway after that bomb scare at Laguardia last night with people panicking rushing to get out of that American Airlines playing from Indianapolis following an emergency landing Passengers described a mad scramble to get off port authority says there was no actual danger The danger of inflation a big topic heading into the new trading week and Simon Ballard chief economist at first Abu Dhabi bank says even with growing signs of rising prices the fed needs to see stronger jobs recovery before tightening That's what's really going to be needed to trigger a change of heart by the fellow thing between now and mid 2022 in terms of shifting to that tidal bias And bellard commenting on Bloomberg daybreak Middle East U.S. consumer price report comes out This wouldn't stay According to federal documents Donald Trump's Washington hotel lost more than $70 million during his time in The White House And that was despite receiving millions of dollars in payments from foreign governments Bloomberg's Charlie pellet takes a look According to a letter from the chair of the House committee on oversight and reform the documents quote raised new and troubling questions about former president Trump's lease which was managed by the general services administration according to the letter the losses occurred even as the Trump international hotel took in an estimated $3.75 million from foreign governments and received favorable terms from Deutsche Bank which allowed Trump to defer payments for 6 years on the principle of a $170 million loan Charlie pellet Bloomberg radio Looks like Tesla's software update is ready to go Elon Musk says the full self-driving beta 10.2 update will be coming out tonight and mayor de Blasio's new plan to get rid of the city's gifted and talented programs might not make the great world warn that coming up as well Couple news 24 hours a day on air and Bloomberg quick take powered by more than 2700 journalists and analysts in more than a 120 countries I'm Denise Pellegrini And this is Bloomberg.
Bloomberg Radio New York
"brad siegel" Discussed on Bloomberg Radio New York
"5 million people around the world have now died of COVID-19 A Reuters report says the global death toll hit the 5 million mark Friday due in part to unvaccinated people being exposed to the fast spreading delta variant The report says more than half of all COVID deaths on a 7 day average were in the U.S. Russia Brazil Mexico and India President Biden had a closed door meeting with Democrats on Capitol Hill Friday It's been 6 minutes 6 days or 6 weeks We're gonna get it done Speaking to reporters he said it doesn't matter how long it takes He'll get the massive infrastructure Bill passed along with the even bigger social spending measure Federal officials are predicting the full containment of the Dixie fire by the end of October The giant wildfire has burned nearly a million acres in Northern California since July It's now 94% contained the U.S. forest service says there is still fire activity in the plumes and lassen national forests I'm Brad Siegel And I'm Susanna Palmer in the Bloomberg news room The Supreme Court has denied a request to block New York City's vaccine mandate for teachers and staff The deadline was 5 p.m. Friday afternoon for school employees to get their first dose or face suspension or possible termination As we've been reporting still no agreement between Democrats on president Joe Biden's agenda The president is reported to have floated a compromise last night between moderates in the Senate and progressives in the house with a 1.9 to $2.2 trillion price tag A spat between wealthy neighbors and Laguna Beach California turns into jail time for one of them Bill and Amy gross were found guilty of contempt of court for ignoring a judge's order not to annoy their neighbor tech entrepreneur Mark topic with loud music Bill gross is the billionaire cofounder of pimco The grosses were sentenced to 5 days in jail That was suspended because of COVID Former governor Andrew Cuomo was pushing it before he left office The proposed air train to Laguardia airport now the projects getting a second look we get more from Bloomberg's Denise Pellegrini The air train has yet to be built but it does have federal approval It would connect the newly refurbished Laguardia airport to the well its point stop along the 7 train Cuomo has said and supporters of the project say it's the solution for travelers looking to use mass transit to move between the airport and Manhattan but critics say it would be a misguided use of funds and wouldn't have a lot of impact A press conference in rally is planned Monday at the location of where the air train would be constructed Community groups who oppose the construction are expected to attend Denise Pellegrini Bloomberg radio Tobias levkovich chief U.S. equity strategist at Citigroup has died Is said to have died Friday from injuries he received a month ago when he was struck by a car while crossing a road in wood mirror Long Island lekovic was 60 Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg.