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On today's podcast:
1) On Sunday evening, Erika Kirk, the widow of conservative activist Charlie Kirk, spoke at memorial service for her late husband, attended by the president and many prominent conservatives. She said she forgave the man who gunned down her husband, saying “I forgive him because it was what Christ did and it’s what Charlie would do.” President Trump proclaimed Charlie Kirk a “martyr for American freedom” in a memorial ceremony.
2) President Trump signed a proclamation to overhaul the H-1B visa program, requiring a $100,000 fee for applications to curb overuse. The proclamation restricts entry under the H-1B program unless accompanied by the payment, and asserts that abuse of the H-1B pathway has displaced US workers.
3) President Trump suggested that Lachlan Murdoch and his father Rupert Murdoch are involved in the US takeover of TikTok. Under the deal, Americans would hold six of the seven board seats for TikTok, the app’s algorithm would be controlled in the US and Oracle would act as TikTok’s security provider.
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Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
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On today's podcast:
1) The president threatens TV networks that criticize him after Jimmy Kimmel's suspension. President Trump has said US broadcast networks should face scrutiny over their licenses if they're too critical of him, and media executives and academics say companies are "bending to the will" of Trump's administration, making media companies look like state-run outlets.
2) The call between President Trump and Chinese President Xi Jinping may determine the fate of TikTok and potentially ease trade tensions between the two countries. Trump and Xi are due to discuss a framework agreement to shift control of TikTok's US operations from its Chinese parent ByteDance to a consortium of American investors.
3) President Trump has asked the US Supreme Court to let him fire Federal Reserve Governor Lisa Cook while she fights his attempt to oust her. The Justice Department asked the court to at least temporarily pause a Washington federal judge’s ruling that has allowed Cook to remain in her position for now.
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On today's podcast:
1) Walt Disney Co.’s ABC network is taking Jimmy Kimmel Live! off the air indefinitely amid a backlash to remarks the late-night host made about the killing of Republican activist Charlie Kirk.
2) President Donald Trump dined on organic Norfolk chicken at a white-tie banquet Wednesday night hosted by the British royal family. His state visit to the UK now turns to tougher diplomatic talks on trade and foreign policy with Prime Minister Keir Starmer.
3) Federal Reserve Chair Jerome Powell rallied a deeply divided committee of policymakers behind an interest rate-cut, tuning out heavy political pressure to find middle ground among officials variously worried by a faltering labor market and lingering inflation concerns.
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On today's podcast:
1) The UK has shelved its talks with the US aimed at eliminating tariffs on British steel, in a recognition that giving Donald Trump the honor of a rare second state visit wouldn’t be enough to shake the American president off a key trade stance.
2) Federal Reserve officials are expected to backstop a faltering US labor market by lowering interest rates Wednesday, marking a shift after worries about tariff-induced inflation kept them on hold all year.
3) TikTok’s US operations would be acquired by a consortium that includes Oracle Corp., Andreessen Horowitz and private equity firm Silver Lake Management LLC under a deal President Donald Trump is set to discuss with Chinese President Xi Jinping this week.
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On today's podcast:
1) An appeals court blocked the White House from removing Federal Reserve Governor Lisa Cook from her post for now, allowing her to continue working while her lawsuit challenging President Trump’s move to dismiss her proceeds. The court's 2-1 ruling came just hours before the start of the Fed's meeting to vote on interest rates, and President Donald Trump could still ask the Supreme Court to step in.
2) President Trump is bringing a $15 billion defamation and libel lawsuit against The New York Times, according to a post on Truth Social. The suit is being brought in Florida, Trump says. The president accuses the publication of becoming a “mouthpiece” for the Democratic Party, citing its endorsement of former presidential candidate Kamala Harris among other concerns.
3) The Securities and Exchange Commission is "prioritizing" a proposal to reduce the frequency of corporate earnings reports after President Trump called for an end to quarterly reports. Trump said companies should report on a "Six (6) Month Basis" instead of quarterly, which he claims will save money and allow managers to focus on running their companies. Critics argue that shifting away from quarterly reporting could be a "gigantic step backward" and increase uncertainty and volatility on earnings results.
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On today's podcast:
1) US and Chinese representatives discussed TikTok, trade and the economy during high-level talks in Madrid. The talks included national security issues and the status of ByteDance's TikTok, which faces a deadline to reach a deal to continue operations in the US.
2) China ruled that Nvidia violated anti-monopoly laws with a 2020 deal, increasing pressure on Washington during trade negotiations. The State Administration for Market Regulation found Nvidia in violation of antitrust regulations after its acquisition of Mellanox Technologies. The regulator will investigate further, but did not specify what remedies it would seek, after Nvidia's shares fell in pre-market trading following the announcement.
3) New York Governor Kathy Hochul has endorsed Democratic nominee Zohran Mamdani for mayor of New York City. Hochul wrote that she and Mamdani will be fearless in confronting the president's extreme agenda and that she is confident Mamdani has the courage and urgency New York City needs.
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Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week.
See omnystudio.com/listener for privacy information.
1) The suspect in the killing of Charlie Kirk slipped behind a building, braced himself on the roof and swung off the edge, hitting the ground hard and leaving behind palm smudges and a shoe print. He bolted across a patch of grass, cut through a parking lot and vanished into the trees.
2) President Donald Trump said he intends to attend the funeral for conservative activist Charlie Kirk, who was shot and killed at an event on a college campus in Utah.
3) The shock Israeli strike against Hamas officials in Doha, followed by Russian drones piercing the airspace of NATO ally Poland, delivered twin blows to President Donald Trump’s longtime boast that friends and foes respect the US under his leadership like never before.
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On today's podcast:
1) A search is underway for the killer of Charlie Kirk, a conservative activist who was fatally shot at a Utah university. Kirk was speaking at an outdoor event at Utah Valley University when a single shot was fired from a nearby building, according to local police, with Governor Spencer Cox describing it as a “political assassination.” The shooting drew an outpouring of shock and condemnation from Republicans and Democrats alike, with former Democratic presidents Joe Biden and Barack Obama denouncing the violence and offering sympathies to Kirk's family.
2) Global stocks posted small gains as traders held back on major bets before Thursday’s highly anticipated US inflation data. Expectations that the Fed will resume monetary easing this month have soared in recent weeks, as data increasingly point to a US labor market under strain. A softer-than-expected print could fuel bets on an initial outsized cut, while a stronger reading would bolster the case for more gradual moves.
3) Mexico plans to impose tariffs of as much as 50% on cars and other products made by China and several Asian exporters. The tariffs would affect countries including China, South Korea, India, Thailand, Indonesia, Russia and Turkey, but would not apply to countries such as the US, Canada, the European Union, Japan, Malaysia, Vietnam and Singapore.
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