June 10, 2025 • 16 mins
Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) The Trump administration escalated its response to anti-deportation protests in Los Angeles with the mobilization of 700 Marines, deploying active-duty military on the ground and deepening tensions with California officials.
(2) Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.
(3) As fewer large companies opt to go public in Europe, the region’s stock exchanges are fighting harder to win the biggest listings.
(4) Keir Starmer’s government said more than three-quarters of pensioners in England and Wales will receive cold weather fuel payments this winter, reversing the bulk of a cut to the benefit that many of his lawmakers blamed for the ruling Labour Party’s waning popularity.
(5) Apple introduced a number of AI-powered features during the company’s Worldwide Developers Conference on Monday, even as long-awaited enhancements to its Siri voice assistant remain far off.
(6) Barclays is preparing to cut more than 200 jobs in its investment bank in the coming days as part of Chief Executive Officer C.S. Venkatakrishnan’s plan to boost the profitability of the division.
Podcast Conversation: Best Restaurant in the UK Is in One of London’s Fanciest Hotels
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
This is the Blueberg Day BAQ podcast, available every morning
on Apple, Spotify or wherever you listen. It's Tuesday, the
tenth of June in London.
Speaker 3 (00:17):
I'm Caroline Hepke and I'm Stephen Carroll. Coming up today.
US President Donald Trump deploys the Marines to Los Angeles
in response to anti deportation protests as Democrats accuse him
of inflaming tensions.
Speaker 2 (00:29):
Europe's IPO drought, leave Stock Exchange is battling for listings
in an increasingly shallow pool.
Speaker 3 (00:36):
Plus focusing on core changes, Apple unveils the most sweeping
software redesign in its history, as its troubled AI efforts
take a back seat.
Speaker 4 (00:45):
Let's start with the roundup of our top stories.
Speaker 3 (00:48):
We begin with the unrest in Los Angeles. The Trump
admitter station says it is deploying seven hundred Marines to
the city as political tensions with Democrats grow. The White
House says conditions in La or spiral and that federal
forces are needed to support immigration agents and restore order.
President Donald Trump and California's Governor Gavin Newsom have classed
repeatedly over the response to the unrest, with the States
(01:11):
suing the Trump administration for mobilizing National Guard troops in
the city. Here's Los Angeles Democratic Mayor Karen Bass.
Speaker 5 (01:18):
They're guarding the federal building here in downtown, and they're
guarding the Federal building in Westwood. That's what they're doing,
So they need marines on top of it. I don't
understand that. That's why I feel like we are part
of an experiment that we did not ask to be
a part of.
Speaker 3 (01:35):
Mayor Karen Bass, speaking there as the United Nations on
Monday warned against a further militarization of the situation in
la On Monday, largely peaceful daytime protests morphed into a
fourth day of scattered clashes with police. The protests, which
have been largely limited to a few small parts of
the city, were sparked by a rising number of raids
by immigration agents, which local officials argue have spread fear
(01:57):
in immigrant communities.
Speaker 2 (01:59):
Now to the trade talks I mentioned US China trade
talks will continue for a second day in London as
both sides seek to ease tensions over rare earth supplies
and tech exports. Blueberk understands that the US is offering
to ease some tech export controls in exchange for rare
earth shipments from China, which produces seventy percent of global supplies.
(02:21):
US Treasury Sectary Scott best sent and Commo Sexuy Howard
Lutnik have been leading the American delegation, with Lutnik calling
the talks after the first day fruitful, a sentiment echoed
by President Trump.
Speaker 5 (02:34):
We are doing well with China.
Speaker 6 (02:37):
China's not easy. I think we're doing very well. They're
over there now. I'm only getting good reports.
Speaker 4 (02:44):
So that was President Trump.
Speaker 2 (02:45):
Although optimistic about the talks, President Trump gave no clear
answer on lifting export restrictions, saying we'll see when he
was asked.
Speaker 3 (02:53):
Europe stock exchanges are fighting fiercely to win the few
IPOs left looming across the continent. Data compiled by Bloomberg
shows Europe has made up just eight percent of global
issuance so far this year. That's against the yearly average
of sixteen percent or more for the last decade.
Speaker 6 (03:09):
James Wilcock has more.
Speaker 7 (03:11):
You may not have heard of Vismer or they're sure
that the stock exchange in Stockholm, London, Zurich, and Amsterdam
have one's a software company and the other makes alarms,
but both are expected to list at valuations potentially worth
more than twenty billion euros. Europe's capital markets are trying
their best to charm these potential public companies after being
(03:34):
starved of new listings. And for the exchanges you miss out,
alarm bells will be ringing in London, James Wilcock, Bloomberg Radio.
Speaker 4 (03:42):
Now.
Speaker 2 (03:42):
The UK government has reversed an unpopular cut that it
made to pensioners' winter few benefits. A pension is with
an income of under thirty five thousand pounds per year
will now be able to claim extra money to heat
their homes during the winter. It is a u turn
that Chancellor Rachel Reeves says she can afford because she
has stabilized the UK economy.
Speaker 8 (04:04):
We did that with a number of difficult decisions. But
because of those decisions, our public finances are now in
a better position, which means this year we're able to
play the winter fuel payment to more pensioners. Nine million
we'll receive it this year.
Speaker 2 (04:18):
The Chancellor earlier this year had to make last minute
changes to curb disability benefits to return her fiscal headroom
to just under ten billion pounds. The governing Labor Party
has seen an abrupt fall from popularity since taking office
last year, with most polls putting the party now second
place to Reform UK.
Speaker 6 (04:39):
We're staying in the UK.
Speaker 3 (04:40):
The government is to invest fourteen point two billion pounds
to help the build the Size wells See nuclear plant
in Suffolk and Eastern England, a project that's already been
on the drawing board for more than a decade remembers
EU and parts has more.
Speaker 1 (04:54):
When completed, the three point two gigawatts Size or See
nuclear plant will generate enough power for six million homes,
which the government hopes will usher in a quote golden
age of abundant clean energy. The total price tag for
this clean energy, though, is likely to surpass forty billion pounds.
Today's announcement, ahead of tomorrow's spending review, brings the government's
total commitment to Size well See to just shy of
(05:16):
eighteen billion pounds, meaning there's plenty to do in raising
funds from the private sector. In London, I'm un pots
Bloomberg Radio.
Speaker 2 (05:24):
To some corporate news now, Berklays is preparing to acts
more than two hundred investment bank jobs in a bid
to cut costs. The move is part of CEO CSVN
Kunta Krishnan's plan to boost the profitability of the division.
Bloomberg understands that managing directors will be the most senior
employees affected by the changes, which are expected to reduce
the lender's head count by around three percent. A Berkeley
(05:46):
spokesperson said that the cuts are part of regular talent
pool reviews to ensure continued investment in priority areas.
Speaker 3 (05:55):
Apple has introduced a host of new artificial intelligence features
in a bid to match its companty. The announcements made
during the firm's Worldwide Developers Conference yesterday include an expanded
relationship with chat GPT maker open Ai. For Bloomberg's Ed
Ludlow says the news was marred by concerns about the
firms Siri software.
Speaker 9 (06:14):
The stock did drop sharply, literally in the opening minutes
of the keynote presentation, and a part of that was
senior Apple executives basically saying, we have nothing to say
about Siri right now, the kind of core of Apple intelligence,
and we won't hear more about that later in the year.
Even though expectations around what Apple would or would not
say around AI were pretty low going into this. The
(06:36):
concern coming out today was, well, did we hear enough
that we understand the roadmap forward when it comes to
Apple and AI?
Speaker 3 (06:43):
That's Benber Technology correspondent Ed Ludlow speaking there. The new
capabilities will help Apple's iOS operating system start to match
some of the features being offered by Samsung and Google's
Android devices.
Speaker 2 (06:55):
And those are a few of our top stories for
you this morning. Well think you about Apple. The share
price fell by one point two percent at the close
on Monday after that keynote speech at the Worldwide Developers Conference.
In terms of more broadly though, what we're thinking about,
it's day two of these US China trade talks. Asian
traders seem to have been shrugging off for any tariff fears,
(07:16):
even though the effective tariff rate at the moment for
imports into the US is about seven spots zero seven percent.
But as I say, US officials have been quite optimistic.
So if you look at the Asian session, you got
the Msciaged Specific Index up by six tens of one percent,
the Nike is up nine tenths of one percent, the
hang saying up three tens of one percent, you get
(07:36):
the picture. In terms of stop futures for the US
also positive, The S and P five founded up four
tenths of one percent, so climbing.
Speaker 4 (07:43):
To a three month high.
Speaker 2 (07:45):
The dollar strengthening against most FX pairing, so up by
almost two tenths of one percent on the bloomberg A
Dollar Spot Index. The euros in retreat, so too is
the Japanese yen, and the pound is down a tenth
of one percent. Looking at the bottom markets then, ahead
of the inflation data that we get from the US
on Wednesday, tenure US yields little changed at four forty eight.
(08:07):
Bitcoin though is heading towards another record high, and we're
hovering around one hundred and nine thousand, five hundred dollars
just below that level. So those are the markets.
Speaker 3 (08:18):
In a moment, we'll bring you the latest on events
in Los Angeles, plus where we are in the US
China trade talks which continue today in London. But an
other words on a story that we've been reading this
morning hungrily early this morning, and this is the National
Restaurant Awards rankings here in the UK, so list of
the one hundred best restaurants and fine dining is the
(08:40):
big winner, according to our food editor Kate crater As
coming out on top of the list was the restaurant
in the Ritz.
Speaker 6 (08:46):
It's classical dining room.
Speaker 3 (08:48):
So this is sort of an interesting shift around the
kind of restaurants that are coming out on top of
these things.
Speaker 6 (08:55):
It's back to the classics.
Speaker 2 (08:57):
Absolutely, it's that kind of you know, white gloves service.
It's the Ritz, It's the swankiest hotel in London. It's
not quite the priciest. Maybe they do at least have
a menu at tasting many for five courses at one
hundred and ninety nine pounds, so I suppose that's not
not too much of a nosebleed moment. Chef John Williams
(09:17):
has got this kind of classic fine dining restaurant has
one out.
Speaker 3 (09:21):
I mean, I hope everyone else will enjoy. Also the
activity that I've been to this morning, which is trying
to count many of the top one hundred I've been to.
The full list is in k Craters piece. I think
I got to around ten, which I'm pretty happy about.
Speaker 4 (09:32):
It too taken me to one.
Speaker 3 (09:36):
We were discussing that earlier we have been to one
of them together. That's true, but there is I mean
plenty of options that it's also a nod to some
restaurants no longer with us as it were Lisles and
London came in at twenty one and that closed recently
ensured it here in London. But we'll put a link
to the article on our podcast show Notes. You can
read the full list for yourself.
Speaker 2 (09:54):
Now let's get to our top story today. The Trump
administration is sending around seven hundred hours active duty marines
to respond to protests in Los Angeles. The California Governor,
Garret vin Newsom has called the decision unlawful and has
requested the White House revoke the order. Joining us now,
as our senior editor, Bill Ferries, Good morning, Bill, there
(10:14):
have been some images actually emerging we think of these
marines deploying active duty military within the US. It is
highly unusual. How has the president justified this?
Speaker 8 (10:29):
Hi?
Speaker 10 (10:29):
Yeah, thanks for having me.
Speaker 6 (10:30):
You're right.
Speaker 10 (10:31):
We have seen some images coming from the LA Times
of soldiers looking like they're leaving the twenty nine Palms
base and heading to Los Angeles, and a big caravan
of buses. So far, it is, as you mentioned, highly unusual.
It's highly unusual for the president to deploy National Guard
without a request from the state governor or from a
(10:53):
local mayor. That hasn't happened since the nineteen sixties. It's
even more unusual to be putting active duty troops, and
there's a lot of legal restrictions about how you do that.
Speaker 6 (11:04):
The president.
Speaker 10 (11:05):
The president is using this provision of US law that
allows the domestic deployment of troops in the case of
invasion by a foreign nation, a rebellion, or the danger
of a rebellion, and that's one of the things California
officials are immediately taking taking putting a question to saying
that there really is there's no there's no invasion, and
(11:26):
there's no rebellion. These are are legal protests, they're saying.
We did see on Monday that things seem to have,
i want to say, calmed down a little bit from
the weekend when you saw those waymo cars getting burned
and more people having disputes or being fighting back and
(11:46):
forth with authorities. So it was a relatively calm more
day compared to the weekend. But as you said, these
troops are look like they're heading for Los Angeles, and
you still have several hundred National Guard forces on the streets.
Speaker 6 (12:02):
Now.
Speaker 3 (12:03):
Yeah, indeed, because this has been part of the debate,
is that while the Trump administration claims the situation is
bad enough to warrant having marines in there, what is
happening on the ground appears to be much more limited
and certainly scattered being the word that our colleagues in
Los Angeles have used to describe the protests that have
happened in the past twenty four hours. Took us through
(12:23):
what the Californian officials, Governor Gavin Newsom and the mayor
of La Karen Bass, have been saying about this.
Speaker 10 (12:30):
Well, they're saying that it's the federal response that has
actually made the situation worse. It's helped provoke some of
the people who are out on the streets at this point,
and even local officials La the LA Sheriff saying that,
you know, things weren't looking great, but officials, local authorities
had it under control and they're you know, they've sued
(12:54):
local the California officials have now sued the federal government
over its response. It's not clear how long that will
take to play out in the court, but as we've seen,
you know, I don't think the White House and the
Trump administration has really been deterred by the threat of
lawsuits so far. So I think, you know, California officials
are hoping they can get this de escalated and prevent
(13:17):
any more violence before these marines arrive, before there's any
kind of more and more of a deployment on the
streets of Los Angeles.
Speaker 2 (13:25):
And yet again it seems to be a major decision
that may come down to a judge in terms of
the kind of legal action.
Speaker 10 (13:32):
Yeah. Absolutely, I mean, it's definitely it's definitely the style
of the Trump administration to sort of push up against
legal boundaries and then fight to see if what they've
done can be accepted by the courts. We've seen that
throughout this battle over immigration. We've seen it when it
comes to foreign students in the US studying in American colleges.
(13:54):
We've seen it in the fight with the universities like
Harvard and Columbia. It is, you know, this is a
maximalist presidency, and the White House does focus on seeing,
you know, where exactly the boundaries to their authorities and
powers are.
Speaker 3 (14:10):
But another story that even monitoring for us this morning
has been the US China trade talks happening here in
London heading into a second day today, Are there any
signs of progress?
Speaker 10 (14:20):
Well, the fact that I think there's a second day
of talks is probably some sign of progress. You had
I think six hours of discussions yesterday. It went till
about eight pm London time there restarting today. President Trump
was out earlier saying he thinks the US is doing
well with China, but he said China's not easy. It's
(14:41):
the second time in the last couple of weeks he's
talked about the difficulties of negotiating with China, but talks
expected to continue today. There is some reporting from our
side that China may ease those restrictions on rare earth shipments,
and in turn, the Trump administration would look at easing
(15:04):
some of the measures they've put in, most recently that
targeted chip design software sales to China, as well as
the sale of jet engine parts that China really needs.
So both sides seeming to potentially give up something here
to get trade talks back on a better track.
Speaker 3 (15:23):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Streets and beyond.
Speaker 2 (15:30):
Look for US on your podcast feed every morning on Apple, Spotify,
and anywhere else you get your podcasts.
Speaker 3 (15:36):
You can also listen live each morning on London Dab Radio,
the Bloomberg Business app, and Bloomberg dot Com.
Speaker 2 (15:41):
Our flagship New York station, is also available on your
Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty.
Speaker 6 (15:49):
I'm Caroline Hepka and I'm Stephen Carroll.
Speaker 3 (15:51):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg day
Break Europe
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:10):
This is the Blueberg Day BAQ podcast, available every morning
on Apple, Spotify or wherever you listen. It's Tuesday, the
tenth of June in London.
Speaker 3 (00:17):
I'm Caroline Hepke and I'm Stephen Carroll. Coming up today.
US President Donald Trump deploys the Marines to Los Angeles
in response to anti deportation protests as Democrats accuse him
of inflaming tensions.
Speaker 2 (00:29):
Europe's IPO drought, leave Stock Exchange is battling for listings
in an increasingly shallow pool.
Speaker 3 (00:36):
Plus focusing on core changes, Apple unveils the most sweeping
software redesign in its history, as its troubled AI efforts
take a back seat.
Speaker 4 (00:45):
Let's start with the roundup of our top stories.
Speaker 3 (00:48):
We begin with the unrest in Los Angeles. The Trump
admitter station says it is deploying seven hundred Marines to
the city as political tensions with Democrats grow. The White
House says conditions in La or spiral and that federal
forces are needed to support immigration agents and restore order.
President Donald Trump and California's Governor Gavin Newsom have classed
repeatedly over the response to the unrest, with the States
(01:11):
suing the Trump administration for mobilizing National Guard troops in
the city. Here's Los Angeles Democratic Mayor Karen Bass.
Speaker 5 (01:18):
They're guarding the federal building here in downtown, and they're
guarding the Federal building in Westwood. That's what they're doing,
So they need marines on top of it. I don't
understand that. That's why I feel like we are part
of an experiment that we did not ask to be
a part of.
Speaker 3 (01:35):
Mayor Karen Bass, speaking there as the United Nations on
Monday warned against a further militarization of the situation in
la On Monday, largely peaceful daytime protests morphed into a
fourth day of scattered clashes with police. The protests, which
have been largely limited to a few small parts of
the city, were sparked by a rising number of raids
by immigration agents, which local officials argue have spread fear
(01:57):
in immigrant communities.
Speaker 2 (01:59):
Now to the trade talks I mentioned US China trade
talks will continue for a second day in London as
both sides seek to ease tensions over rare earth supplies
and tech exports. Blueberk understands that the US is offering
to ease some tech export controls in exchange for rare
earth shipments from China, which produces seventy percent of global supplies.
(02:21):
US Treasury Sectary Scott best sent and Commo Sexuy Howard
Lutnik have been leading the American delegation, with Lutnik calling
the talks after the first day fruitful, a sentiment echoed
by President Trump.
Speaker 5 (02:34):
We are doing well with China.
Speaker 6 (02:37):
China's not easy. I think we're doing very well. They're
over there now. I'm only getting good reports.
Speaker 4 (02:44):
So that was President Trump.
Speaker 2 (02:45):
Although optimistic about the talks, President Trump gave no clear
answer on lifting export restrictions, saying we'll see when he
was asked.
Speaker 3 (02:53):
Europe stock exchanges are fighting fiercely to win the few
IPOs left looming across the continent. Data compiled by Bloomberg
shows Europe has made up just eight percent of global
issuance so far this year. That's against the yearly average
of sixteen percent or more for the last decade.
Speaker 6 (03:09):
James Wilcock has more.
Speaker 7 (03:11):
You may not have heard of Vismer or they're sure
that the stock exchange in Stockholm, London, Zurich, and Amsterdam
have one's a software company and the other makes alarms,
but both are expected to list at valuations potentially worth
more than twenty billion euros. Europe's capital markets are trying
their best to charm these potential public companies after being
(03:34):
starved of new listings. And for the exchanges you miss out,
alarm bells will be ringing in London, James Wilcock, Bloomberg Radio.
Speaker 4 (03:42):
Now.
Speaker 2 (03:42):
The UK government has reversed an unpopular cut that it
made to pensioners' winter few benefits. A pension is with
an income of under thirty five thousand pounds per year
will now be able to claim extra money to heat
their homes during the winter. It is a u turn
that Chancellor Rachel Reeves says she can afford because she
has stabilized the UK economy.
Speaker 8 (04:04):
We did that with a number of difficult decisions. But
because of those decisions, our public finances are now in
a better position, which means this year we're able to
play the winter fuel payment to more pensioners. Nine million
we'll receive it this year.
Speaker 2 (04:18):
The Chancellor earlier this year had to make last minute
changes to curb disability benefits to return her fiscal headroom
to just under ten billion pounds. The governing Labor Party
has seen an abrupt fall from popularity since taking office
last year, with most polls putting the party now second
place to Reform UK.
Speaker 6 (04:39):
We're staying in the UK.
Speaker 3 (04:40):
The government is to invest fourteen point two billion pounds
to help the build the Size wells See nuclear plant
in Suffolk and Eastern England, a project that's already been
on the drawing board for more than a decade remembers
EU and parts has more.
Speaker 1 (04:54):
When completed, the three point two gigawatts Size or See
nuclear plant will generate enough power for six million homes,
which the government hopes will usher in a quote golden
age of abundant clean energy. The total price tag for
this clean energy, though, is likely to surpass forty billion pounds.
Today's announcement, ahead of tomorrow's spending review, brings the government's
total commitment to Size well See to just shy of
(05:16):
eighteen billion pounds, meaning there's plenty to do in raising
funds from the private sector. In London, I'm un pots
Bloomberg Radio.
Speaker 2 (05:24):
To some corporate news now, Berklays is preparing to acts
more than two hundred investment bank jobs in a bid
to cut costs. The move is part of CEO CSVN
Kunta Krishnan's plan to boost the profitability of the division.
Bloomberg understands that managing directors will be the most senior
employees affected by the changes, which are expected to reduce
the lender's head count by around three percent. A Berkeley
(05:46):
spokesperson said that the cuts are part of regular talent
pool reviews to ensure continued investment in priority areas.
Speaker 3 (05:55):
Apple has introduced a host of new artificial intelligence features
in a bid to match its companty. The announcements made
during the firm's Worldwide Developers Conference yesterday include an expanded
relationship with chat GPT maker open Ai. For Bloomberg's Ed
Ludlow says the news was marred by concerns about the
firms Siri software.
Speaker 9 (06:14):
The stock did drop sharply, literally in the opening minutes
of the keynote presentation, and a part of that was
senior Apple executives basically saying, we have nothing to say
about Siri right now, the kind of core of Apple intelligence,
and we won't hear more about that later in the year.
Even though expectations around what Apple would or would not
say around AI were pretty low going into this. The
(06:36):
concern coming out today was, well, did we hear enough
that we understand the roadmap forward when it comes to
Apple and AI?
Speaker 3 (06:43):
That's Benber Technology correspondent Ed Ludlow speaking there. The new
capabilities will help Apple's iOS operating system start to match
some of the features being offered by Samsung and Google's
Android devices.
Speaker 2 (06:55):
And those are a few of our top stories for
you this morning. Well think you about Apple. The share
price fell by one point two percent at the close
on Monday after that keynote speech at the Worldwide Developers Conference.
In terms of more broadly though, what we're thinking about,
it's day two of these US China trade talks. Asian
traders seem to have been shrugging off for any tariff fears,
(07:16):
even though the effective tariff rate at the moment for
imports into the US is about seven spots zero seven percent.
But as I say, US officials have been quite optimistic.
So if you look at the Asian session, you got
the Msciaged Specific Index up by six tens of one percent,
the Nike is up nine tenths of one percent, the
hang saying up three tens of one percent, you get
(07:36):
the picture. In terms of stop futures for the US
also positive, The S and P five founded up four
tenths of one percent, so climbing.
Speaker 4 (07:43):
To a three month high.
Speaker 2 (07:45):
The dollar strengthening against most FX pairing, so up by
almost two tenths of one percent on the bloomberg A
Dollar Spot Index. The euros in retreat, so too is
the Japanese yen, and the pound is down a tenth
of one percent. Looking at the bottom markets then, ahead
of the inflation data that we get from the US
on Wednesday, tenure US yields little changed at four forty eight.
(08:07):
Bitcoin though is heading towards another record high, and we're
hovering around one hundred and nine thousand, five hundred dollars
just below that level. So those are the markets.
Speaker 3 (08:18):
In a moment, we'll bring you the latest on events
in Los Angeles, plus where we are in the US
China trade talks which continue today in London. But an
other words on a story that we've been reading this
morning hungrily early this morning, and this is the National
Restaurant Awards rankings here in the UK, so list of
the one hundred best restaurants and fine dining is the
(08:40):
big winner, according to our food editor Kate crater As
coming out on top of the list was the restaurant
in the Ritz.
Speaker 6 (08:46):
It's classical dining room.
Speaker 3 (08:48):
So this is sort of an interesting shift around the
kind of restaurants that are coming out on top of
these things.
Speaker 6 (08:55):
It's back to the classics.
Speaker 2 (08:57):
Absolutely, it's that kind of you know, white gloves service.
It's the Ritz, It's the swankiest hotel in London. It's
not quite the priciest. Maybe they do at least have
a menu at tasting many for five courses at one
hundred and ninety nine pounds, so I suppose that's not
not too much of a nosebleed moment. Chef John Williams
(09:17):
has got this kind of classic fine dining restaurant has
one out.
Speaker 3 (09:21):
I mean, I hope everyone else will enjoy. Also the
activity that I've been to this morning, which is trying
to count many of the top one hundred I've been to.
The full list is in k Craters piece. I think
I got to around ten, which I'm pretty happy about.
Speaker 4 (09:32):
It too taken me to one.
Speaker 3 (09:36):
We were discussing that earlier we have been to one
of them together. That's true, but there is I mean
plenty of options that it's also a nod to some
restaurants no longer with us as it were Lisles and
London came in at twenty one and that closed recently
ensured it here in London. But we'll put a link
to the article on our podcast show Notes. You can
read the full list for yourself.
Speaker 2 (09:54):
Now let's get to our top story today. The Trump
administration is sending around seven hundred hours active duty marines
to respond to protests in Los Angeles. The California Governor,
Garret vin Newsom has called the decision unlawful and has
requested the White House revoke the order. Joining us now,
as our senior editor, Bill Ferries, Good morning, Bill, there
(10:14):
have been some images actually emerging we think of these
marines deploying active duty military within the US. It is
highly unusual. How has the president justified this?
Speaker 8 (10:29):
Hi?
Speaker 10 (10:29):
Yeah, thanks for having me.
Speaker 6 (10:30):
You're right.
Speaker 10 (10:31):
We have seen some images coming from the LA Times
of soldiers looking like they're leaving the twenty nine Palms
base and heading to Los Angeles, and a big caravan
of buses. So far, it is, as you mentioned, highly unusual.
It's highly unusual for the president to deploy National Guard
without a request from the state governor or from a
(10:53):
local mayor. That hasn't happened since the nineteen sixties. It's
even more unusual to be putting active duty troops, and
there's a lot of legal restrictions about how you do that.
Speaker 6 (11:04):
The president.
Speaker 10 (11:05):
The president is using this provision of US law that
allows the domestic deployment of troops in the case of
invasion by a foreign nation, a rebellion, or the danger
of a rebellion, and that's one of the things California
officials are immediately taking taking putting a question to saying
that there really is there's no there's no invasion, and
(11:26):
there's no rebellion. These are are legal protests, they're saying.
We did see on Monday that things seem to have,
i want to say, calmed down a little bit from
the weekend when you saw those waymo cars getting burned
and more people having disputes or being fighting back and
(11:46):
forth with authorities. So it was a relatively calm more
day compared to the weekend. But as you said, these
troops are look like they're heading for Los Angeles, and
you still have several hundred National Guard forces on the streets.
Speaker 6 (12:02):
Now.
Speaker 3 (12:03):
Yeah, indeed, because this has been part of the debate,
is that while the Trump administration claims the situation is
bad enough to warrant having marines in there, what is
happening on the ground appears to be much more limited
and certainly scattered being the word that our colleagues in
Los Angeles have used to describe the protests that have
happened in the past twenty four hours. Took us through
(12:23):
what the Californian officials, Governor Gavin Newsom and the mayor
of La Karen Bass, have been saying about this.
Speaker 10 (12:30):
Well, they're saying that it's the federal response that has
actually made the situation worse. It's helped provoke some of
the people who are out on the streets at this point,
and even local officials La the LA Sheriff saying that,
you know, things weren't looking great, but officials, local authorities
had it under control and they're you know, they've sued
(12:54):
local the California officials have now sued the federal government
over its response. It's not clear how long that will
take to play out in the court, but as we've seen,
you know, I don't think the White House and the
Trump administration has really been deterred by the threat of
lawsuits so far. So I think, you know, California officials
are hoping they can get this de escalated and prevent
(13:17):
any more violence before these marines arrive, before there's any
kind of more and more of a deployment on the
streets of Los Angeles.
Speaker 2 (13:25):
And yet again it seems to be a major decision
that may come down to a judge in terms of
the kind of legal action.
Speaker 10 (13:32):
Yeah. Absolutely, I mean, it's definitely it's definitely the style
of the Trump administration to sort of push up against
legal boundaries and then fight to see if what they've
done can be accepted by the courts. We've seen that
throughout this battle over immigration. We've seen it when it
comes to foreign students in the US studying in American colleges.
(13:54):
We've seen it in the fight with the universities like
Harvard and Columbia. It is, you know, this is a
maximalist presidency, and the White House does focus on seeing,
you know, where exactly the boundaries to their authorities and
powers are.
Speaker 3 (14:10):
But another story that even monitoring for us this morning
has been the US China trade talks happening here in
London heading into a second day today, Are there any
signs of progress?
Speaker 10 (14:20):
Well, the fact that I think there's a second day
of talks is probably some sign of progress. You had
I think six hours of discussions yesterday. It went till
about eight pm London time there restarting today. President Trump
was out earlier saying he thinks the US is doing
well with China, but he said China's not easy. It's
(14:41):
the second time in the last couple of weeks he's
talked about the difficulties of negotiating with China, but talks
expected to continue today. There is some reporting from our
side that China may ease those restrictions on rare earth shipments,
and in turn, the Trump administration would look at easing
(15:04):
some of the measures they've put in, most recently that
targeted chip design software sales to China, as well as
the sale of jet engine parts that China really needs.
So both sides seeming to potentially give up something here
to get trade talks back on a better track.
Speaker 3 (15:23):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Streets and beyond.
Speaker 2 (15:30):
Look for US on your podcast feed every morning on Apple, Spotify,
and anywhere else you get your podcasts.
Speaker 3 (15:36):
You can also listen live each morning on London Dab Radio,
the Bloomberg Business app, and Bloomberg dot Com.
Speaker 2 (15:41):
Our flagship New York station, is also available on your
Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty.
Speaker 6 (15:49):
I'm Caroline Hepka and I'm Stephen Carroll.
Speaker 3 (15:51):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg day
Break Europe
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