May 22, 2025 • 17 mins
Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) President Cyril Ramaphosa came to the White House looking to persuade President Donald Trump to stop floating the conspiracy theory that there’s a genocide against White people in South Africa. Instead, the man who’d helped negotiate the end of apartheid walked into a trap.
(2) Two members of the Israeli embassy’s staff were fatally shot outside the Capital Jewish Museum in Washington on Wednesday night, Homeland Security Secretary Kristi Noem said.
(3) The UK urged its Group of Seven allies to agree a cut to the price cap on Russian oil, saying the move is necessary to put further pressure on President Vladimir Putin to end Russia’s war in Ukraine.
(4) In the world’s biggest bond market, investors are pushing back against President Donald Trump’s tax-cut plan.
(5) Britain’s Labour government will make its sharpest U-turn since returning to power by limiting cuts to pensioners’ subsidies, as it puts the electoral threat posed by Nigel Farage ahead of lingering concern about the public finances.
Podcast Conversation: As F1 Has Grown in the US, So Has the Market for Memorabilia
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Bloomberg Audio Studios, podcasts, radio news. This is the.
Speaker 2 (00:10):
Bloomberg Day BAQ podcast, available every morning on Apple, Spotify
or wherever you listen. It's Thursday, the twenty second of
May in London. I'm Caroline Hepcare another Oval Office confrontation.
President Trump repeats the conspiracy theory of white genocide in
South Africa against the country's president. Two people working for
Israel's embassy have been shot and killed in Washington, DC.
(00:34):
And making memories make money. How the popularity of Formula
one has started a collector's market. Let's start with the
roundup of our top stories. US President Donald Trump confronted
South Africa's leader, Cyril Ramaposa in the Oval Office, repeating
a conspiracy theory that there was a white genocide in
the country. In an impromptu press briefing scheduled by the
(00:57):
White House, the US President claimed that white farmers were
being killed in the country. Here is part of the exchange.
Speaker 3 (01:04):
When you do allow them to take land, No no, no, no,
do allow them to take land. Nobody can take.
Speaker 4 (01:10):
Where they take the land, they kill the white farmer.
Speaker 5 (01:14):
And when they killed the white farmer, nothing happens to them.
Speaker 3 (01:17):
No, there is.
Speaker 5 (01:18):
Quite nothing happened.
Speaker 2 (01:21):
The episode was described by Ramaposa's aids as an ambush
and that the US claims are not true. No land
has been seized by the South Africa since Apartheit ended,
whilst killings of farmers have been falling over the last
twenty years. President Ramoposa pushed back in the meeting.
Speaker 3 (01:40):
I'm sorry, I don't have a plane to give you.
I wish I.
Speaker 1 (01:43):
Did I take you.
Speaker 6 (01:45):
I would take if your country offered the United States.
Speaker 2 (01:47):
Air Force applant, I would take it.
Speaker 1 (01:49):
Okay.
Speaker 3 (01:50):
But coming back to this issue, which I really would
like us to talk about and talk about it very calmly.
We were taught by Nelson Mandy whenever there are problems,
people need to sit down around the table and talk
about it.
Speaker 1 (02:06):
Where they are about this is.
Speaker 2 (02:08):
In February, President Trump froze almost all A two Pretoria,
claiming that it persecuted white Africana farmers. Now the RAND
weakened as the discussion between Trump and Ramaposa became more heated.
The US Defense Department has formerly accepted a luxury Boeing
seven four seven eight jumbo jets from Kuttar to temporarily
(02:30):
serve as the new Air Force One. It's one of
the biggest foreign gifts ever given to the US government
and has raised ethical and security concerns. A Bloomberg investigation
has also found that President Trump has more than doubled
his net worth since the beginning of his second presidential
election campaign. The US president is now worth roughly five
(02:51):
point four billion dollars. Two Israeli embassy workers have been
shot dead in Washington, d C. The shooting happened last
night near the Capital Jewish Museum, just steps away from
an FBI office. The motive is still unclear, but police
say that a suspect is now in custody and shouted free,
Free Palestine while being detained. Washington DC Police Chief Pamela
(03:15):
Smith gave this statement.
Speaker 5 (03:17):
Officers located one adult male and one adult female unconscious
and not breathing at the scene. DC fire and ems
responded in Despite all life saving efforts, both victims succumbed
to their injuries.
Speaker 2 (03:31):
Washington DC Police Chief Pamela Smith, speaking there as Israel's
Ambassador to the United Nations, Danny Danon, called the attack
a depraved act of anti Semitic terrorism. Now President Trump
has reportedly told European leaders that Vladimir Putin is not
ready to end the war because he thinks that Russia
is winning. The Wall Street Journal says that the US
(03:53):
president conceded that acesphar was unlikely at this stage. It
comes as the UK ourges G Seven allies to further
sanctioned Russian oil to put pressure on Moscow. JP Morgan
CEO Jamie Diamond says that he can't rule out the
US economy will fall into stagflation. The head of America's
largest bank says the country faces huge risks from geopolitics,
(04:16):
from deficits, and from price pressures.
Speaker 1 (04:21):
I just think there's a.
Speaker 4 (04:21):
Chance that things will You'll have stagflation.
Speaker 3 (04:23):
I might say it's going to happen.
Speaker 4 (04:24):
I don't want the real essay.
Speaker 3 (04:25):
He's predicting that.
Speaker 4 (04:27):
I'm not, but we have to be prepared for something
like that.
Speaker 2 (04:31):
JP Morgan's Jamine Diamond there in an exclusive Bloomberg interview.
Both the FED and Wall Street are waiting to see
how uncertainty and taris hit the economy. But meanwhile, of course,
US bond investors are pushing back against President Donald Trump's
tax cut plan. Now yesterday yields on benchmark thirty year
treasuries hit five point one percent, just shy of a
(04:54):
two decade high, sparking declines in US stocks and the dollar.
Audrey go Is, head of asset Allocation and Standard Chartered
Wealth Management, saying that tenure treasury yields could also be
on the rise in the near future.
Speaker 7 (05:08):
All bias is still for maybe some near some upsight
in terms of you you know, maybe towards four point
seventy five perhaps where the tenure U is concerned over
the next one four months. Even when that wire to
spike and break up of maybe yet to dig highs
for that matter, that will probably you know, allow the
fact to do a bit more dafishly astart delivering recut
and therefore that should then pressure use towards our was
(05:31):
was forecasts with round four point four to four point
twenty five percent with a ten year US one U
is concern.
Speaker 2 (05:37):
That was Standard Charters Audrey go speaking there. Investor sentiment
towards treasury took a big hit after Moody's ratings stripped
the US of its top credit grade last week. Of course,
late last week, and also dipped further yesterday after that
twenty year bond auction that drew surprisingly tepid demand. How
to Republican leaders, though, have now released a new version
(06:00):
of the bill, the Tax and Spending Bill, featuring a
higher deduction limit for certain taxes, in a bid to
try to garner more supportant to actually get a swift
resolution to the Trump tax plan, to try to get
it through Congress before they go on recess break. Meanwhile,
(06:20):
speaking of government here in the UK, the government has
hinted that it will you turn on a signature benefit
cut for pensioners. Changes to the winter fuel allowance were
originally introduced in the autumn budget. They were to try
to fill this so called twenty two billion pound black
hole in the public finances flagged by the Chancellor. But
speaking in the House of Commons on Wednesday, Prime Minister
(06:42):
Kirs Starmer announced that he now wants more pensioners to
be eligible and that he would reconsider the thresholds for
subsidies as the economy improves.
Speaker 1 (06:53):
We want to take measures that will impact on people's
lives and therefore we will look at the threshold, but
that will.
Speaker 6 (06:59):
Have be part of a fiscal event.
Speaker 2 (07:02):
The Prime Minister Kistarma, speaking there as Boomberg reports that
the policy has been widely blamed for the labor parties,
collapsing poll ratings and poor performance in May's local elections.
So those are some of our top stories en for
you this hour. Let's get to the markets. So Wall
Street is now increasingly concerned around the ballooning deficit. Of course,
(07:24):
the Republican tax bill is fast approaching. Actually they've been
talking late into the night in Washington, DC about this.
US stocks tumbled with rising yields. There was also this
week twenty year auction last night which was quite a
red flag. Thirtye yields jump twelve basis points yesterday, they
briefly touched five point at one percent. This morning, Let's
(07:46):
have a look at ten year treasury yields end because
those two have been moving somewhat. They are down actually
a basis point this morning at four fifty nine. Okay,
so some pressure maybe easing at the moment. Looking at
the dollar, are we are weaker ten one tenth of
one percent, three sessions of losses. Gold also rising, and
bitcoin this morning has also hit a fresh record high.
So Bitcoin now up two point eight percent, one hundred
(08:09):
and eleven thousand dollars above that mark. For bitcoin. So
those are the markets now coming up. In just a moment,
we will bring you the latest when it comes to Washington,
d C. And a fatal shooting of two people outside
a museum overnight. And we'll also talk about what happened
in the Oval Office, some parallels of course to what
(08:30):
happened with Ukraine's Vodomis and INSTCUW and he went to
the Oval Office with South Africa's president. But before we
get onto that, you know, lots of very serious news.
Something a bit lighter caught my eye today too, Formula
one memorabilia. Apparently there is a boom beginning in this.
On Saturday in Monaco, M Sotherby's it's putting up for sale,
(08:52):
Michael Schumacher's two thousand and one Ferrari. This is the
one that won, you know, the major trophies for him.
It's estimated to be sold for around fifteen million euros.
That's almost seventeen million dollars. Bloomberg Pursuits Hannah Elliott has
been writing all about this. Why is there this booming
memorabilia market? Of course, it's to do with the focus
(09:15):
and the TV shows that have been made about F one,
which in turn has triggered huge popularity for the sport
in the US, and it follows this waive of very
high profile auctions that we've already seen. In April, Ayrton
Senna his McLaren Honda Formula one helmets sold for almost
a million dollars. And apparently there are plenty more of
(09:36):
these sort of keepsake sales, as even one in Lake
Como over the weekend. So lots of people want this
old gear from well driving legends. Now let's turn our
attention then to what happened in the Oval Office yesterday,
President Trump staging another ambush of a world leader, playing
(09:56):
a video for President similar Opposa that claim to show
a genocide against white farmers in South Africa joining us
now to discuss its been big Senior editor for US
Government and Economics, Bill Ferries, Bill, good morning, Welcome to
the program. Thanks for your time. How damaging is it
for South Africa to have this unfounded accusation by the
(10:17):
US administration. Is there any merit in this accusation whatsoever?
Speaker 4 (10:23):
Well, I think South Africa, I think the government wants
to get ahead of as much as it can. At
this point of Trump's remarks, his claims about a genocide
taking place because they don't want it to take hold,
and there is a real threat that trade ties could
be impacted if this, if this belief really gets a
better grip, you know, in terms of the reality of
(10:47):
the claim. I mean, this has been it's been widely debunked.
I mean, of course, black South Africans were largely stripped
of the right to even own land during the apartheid
and colonial era. That was lifted on return to democracy.
But white people still own more than seventy percent of
the rural land in South Africa. But when you're talking
(11:09):
about you're talking about crime, violent crimes. It's a country
with a high violent crime rate, but of course the
victims are almost overwhelmingly young black men. Last year, according
to the government data, there were fifty five murders that
took place on farms. Many of those would expected to
(11:32):
be white farmers, but they don't break it down by race.
But that's compared to more than twenty seven thousand murders
that took place elsewhere, So there's certainly a problem of violence.
I think one interesting thing about these claims being made
by the Trump administration is that has really united South
Africans politically behind this government. This is the government that
(11:54):
has Afrikaners in the cabinet, that has Africaners support in
the business community. So it's a widely debunked claim, but
one that President Trump continues to hold on to.
Speaker 2 (12:07):
And yeah, some of my opposer was still optimistic about
President Trump despite it being you know, a trap South
Africa opting to engage with the US. I will President
Trump actually go to the G twenty, That's another question
because that's being held a zalafka.
Speaker 4 (12:21):
He was optimistic. I think he took the lesson from
that that kind of blow up with Ukrainian President of
Vladimir Zelenski and Trump just a month or two ago.
He said, Rama Posa came out of the meeting and
said he still thinks that that Trump will participate in
the G twenty, that he doesn't want to hand off
the presidency of the G twenty to an empty chair.
(12:43):
So I think that still remains to be seen, and
I think he's really he really wants to focus on
these trade ties and find a way to get past this.
We heard this from the South African delegation. They said, okay,
they essentially the US got this out of their system.
Now we want to talk about trade and the G twenty.
Trade is very important in South Africa with the US,
(13:04):
and so we'll have to see how that plays out
when this reciprocal tariff period kind of wraps up in
potentially about forty days.
Speaker 2 (13:14):
Yeah. Absolutely, Bill, thank you so much for being with
me this morning and discussing what happened in the Oval office.
Blueberg's senior editor, Bill Ferries, thank you so much for
your time. Now, two members of the Israeli embassy staff
have been fatally shot outside a museum in Washington, DC overnight.
We've learned this just within the past few hours. Boomberg's
EMEA news director ro was in Matheson is with us.
(13:37):
What exactly do we know about this incident so far?
Speaker 4 (13:39):
Ross?
Speaker 6 (13:40):
Well, as you say, what we know is that last
night a young couple from the Israeli embassy apparently they
were a couple who were about to go back to
Israel to become engaged. We're at the museum in Washington
for the evening and we're fatally shot by a single
suspect who was reported to shouted Free Palestine in the
(14:02):
aftermath and has now obviously been detained, and you can
see immediately the condemnation that's come across the Aisle in
Washington over this. I mean, you can see Donald Trump
saying this seems to have been an anti Semitic event.
You can see the Democrats saying same, and the mayor
of Washington, DC also so an immediate rallying around the
(14:25):
Israeli community. They're the Jewish community in DC. In the
aftermath of this shooting. They so they are investigating further.
They don't know whether this has broader links to anything,
or whether this was someone acting just on their own,
but obviously it comes at a time when not just
in the US, but obviously in the Middle East as well.
(14:46):
You know, there's a lot of tensions still over what's
happening in Gaza and one of the next steps by Israel.
Speaker 2 (14:52):
Yeah, absolutely rising tensions. As you say, there are have
been now dozens of AIG trucks that apparently been let
to Gaza for the first time in eighty days, and
yet tensions in the West Bank. Israeli soldiers mistakenly fired
warning shots, and a large group of diplomats from the EU,
from the UK, from China and a number of other
(15:14):
countries in the West Bank. So you know there is
rising tension between Israel and other countries.
Speaker 6 (15:20):
Well, that's right. As you say, there was this incident
yesterday where there was a large diplomatic group it seemed
to be going through the West Bank. The Israeli authorities
say that this group wanted into an area they weren't
supposed to. It was an active area, and therefore the
Israeli soldiers fired warning shots at them, which means they
fired over their heads. So there was obviously no injuries,
(15:43):
but it did raise criticism from a number of countries
for doing so, and it comes, as you see, really
a level of concern in Europe and beyond over the
situation in Gaza, where as you say, about ninety eight
trucks seem to have now gone in, but that's after
many weeks of no way going in whatsoever, and a
(16:04):
lot of concern about the level of hunger inside Gaza
and the humanitarian crisis that's going on there. And of
course the Israeli government's saying they're now trying to prevent hunger.
But it's noting that Benjamin Ntnia, who was the one
who stopped Date into Gaza. Of course, some weeks ago,
and the question is where does this all go in
terms of the concern from Europe in the US. But
(16:26):
does it change the tone particularly from the US.
Speaker 1 (16:29):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Street and beyond.
Speaker 2 (16:35):
Look for us on your podcast feed every morning, on Apple, Spotify,
and anywhere else you get your podcasts.
Speaker 1 (16:41):
You can also listen live each morning on London DAB Radio,
the Bloomberg Business app, and Bloomberg dot Com.
Speaker 2 (16:47):
Our flagship New York station is also available on your
Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty.
Speaker 1 (16:55):
I'm Caroline Hepka and I'm Stephen Carroll. Join us again
tomorrow morning for all the news you need to start
your day right here on Bloomberg day Break Europe.
Speaker 5 (17:06):
M
Bloomberg Audio Studios, podcasts, radio news. This is the.
Speaker 2 (00:10):
Bloomberg Day BAQ podcast, available every morning on Apple, Spotify
or wherever you listen. It's Thursday, the twenty second of
May in London. I'm Caroline Hepcare another Oval Office confrontation.
President Trump repeats the conspiracy theory of white genocide in
South Africa against the country's president. Two people working for
Israel's embassy have been shot and killed in Washington, DC.
(00:34):
And making memories make money. How the popularity of Formula
one has started a collector's market. Let's start with the
roundup of our top stories. US President Donald Trump confronted
South Africa's leader, Cyril Ramaposa in the Oval Office, repeating
a conspiracy theory that there was a white genocide in
the country. In an impromptu press briefing scheduled by the
(00:57):
White House, the US President claimed that white farmers were
being killed in the country. Here is part of the exchange.
Speaker 3 (01:04):
When you do allow them to take land, No no, no, no,
do allow them to take land. Nobody can take.
Speaker 4 (01:10):
Where they take the land, they kill the white farmer.
Speaker 5 (01:14):
And when they killed the white farmer, nothing happens to them.
Speaker 3 (01:17):
No, there is.
Speaker 5 (01:18):
Quite nothing happened.
Speaker 2 (01:21):
The episode was described by Ramaposa's aids as an ambush
and that the US claims are not true. No land
has been seized by the South Africa since Apartheit ended,
whilst killings of farmers have been falling over the last
twenty years. President Ramoposa pushed back in the meeting.
Speaker 3 (01:40):
I'm sorry, I don't have a plane to give you.
I wish I.
Speaker 1 (01:43):
Did I take you.
Speaker 6 (01:45):
I would take if your country offered the United States.
Speaker 2 (01:47):
Air Force applant, I would take it.
Speaker 1 (01:49):
Okay.
Speaker 3 (01:50):
But coming back to this issue, which I really would
like us to talk about and talk about it very calmly.
We were taught by Nelson Mandy whenever there are problems,
people need to sit down around the table and talk
about it.
Speaker 1 (02:06):
Where they are about this is.
Speaker 2 (02:08):
In February, President Trump froze almost all A two Pretoria,
claiming that it persecuted white Africana farmers. Now the RAND
weakened as the discussion between Trump and Ramaposa became more heated.
The US Defense Department has formerly accepted a luxury Boeing
seven four seven eight jumbo jets from Kuttar to temporarily
(02:30):
serve as the new Air Force One. It's one of
the biggest foreign gifts ever given to the US government
and has raised ethical and security concerns. A Bloomberg investigation
has also found that President Trump has more than doubled
his net worth since the beginning of his second presidential
election campaign. The US president is now worth roughly five
(02:51):
point four billion dollars. Two Israeli embassy workers have been
shot dead in Washington, d C. The shooting happened last
night near the Capital Jewish Museum, just steps away from
an FBI office. The motive is still unclear, but police
say that a suspect is now in custody and shouted free,
Free Palestine while being detained. Washington DC Police Chief Pamela
(03:15):
Smith gave this statement.
Speaker 5 (03:17):
Officers located one adult male and one adult female unconscious
and not breathing at the scene. DC fire and ems
responded in Despite all life saving efforts, both victims succumbed
to their injuries.
Speaker 2 (03:31):
Washington DC Police Chief Pamela Smith, speaking there as Israel's
Ambassador to the United Nations, Danny Danon, called the attack
a depraved act of anti Semitic terrorism. Now President Trump
has reportedly told European leaders that Vladimir Putin is not
ready to end the war because he thinks that Russia
is winning. The Wall Street Journal says that the US
(03:53):
president conceded that acesphar was unlikely at this stage. It
comes as the UK ourges G Seven allies to further
sanctioned Russian oil to put pressure on Moscow. JP Morgan
CEO Jamie Diamond says that he can't rule out the
US economy will fall into stagflation. The head of America's
largest bank says the country faces huge risks from geopolitics,
(04:16):
from deficits, and from price pressures.
Speaker 1 (04:21):
I just think there's a.
Speaker 4 (04:21):
Chance that things will You'll have stagflation.
Speaker 3 (04:23):
I might say it's going to happen.
Speaker 4 (04:24):
I don't want the real essay.
Speaker 3 (04:25):
He's predicting that.
Speaker 4 (04:27):
I'm not, but we have to be prepared for something
like that.
Speaker 2 (04:31):
JP Morgan's Jamine Diamond there in an exclusive Bloomberg interview.
Both the FED and Wall Street are waiting to see
how uncertainty and taris hit the economy. But meanwhile, of course,
US bond investors are pushing back against President Donald Trump's
tax cut plan. Now yesterday yields on benchmark thirty year
treasuries hit five point one percent, just shy of a
(04:54):
two decade high, sparking declines in US stocks and the dollar.
Audrey go Is, head of asset Allocation and Standard Chartered
Wealth Management, saying that tenure treasury yields could also be
on the rise in the near future.
Speaker 7 (05:08):
All bias is still for maybe some near some upsight
in terms of you you know, maybe towards four point
seventy five perhaps where the tenure U is concerned over
the next one four months. Even when that wire to
spike and break up of maybe yet to dig highs
for that matter, that will probably you know, allow the
fact to do a bit more dafishly astart delivering recut
and therefore that should then pressure use towards our was
(05:31):
was forecasts with round four point four to four point
twenty five percent with a ten year US one U
is concern.
Speaker 2 (05:37):
That was Standard Charters Audrey go speaking there. Investor sentiment
towards treasury took a big hit after Moody's ratings stripped
the US of its top credit grade last week. Of course,
late last week, and also dipped further yesterday after that
twenty year bond auction that drew surprisingly tepid demand. How
to Republican leaders, though, have now released a new version
(06:00):
of the bill, the Tax and Spending Bill, featuring a
higher deduction limit for certain taxes, in a bid to
try to garner more supportant to actually get a swift
resolution to the Trump tax plan, to try to get
it through Congress before they go on recess break. Meanwhile,
(06:20):
speaking of government here in the UK, the government has
hinted that it will you turn on a signature benefit
cut for pensioners. Changes to the winter fuel allowance were
originally introduced in the autumn budget. They were to try
to fill this so called twenty two billion pound black
hole in the public finances flagged by the Chancellor. But
speaking in the House of Commons on Wednesday, Prime Minister
(06:42):
Kirs Starmer announced that he now wants more pensioners to
be eligible and that he would reconsider the thresholds for
subsidies as the economy improves.
Speaker 1 (06:53):
We want to take measures that will impact on people's
lives and therefore we will look at the threshold, but
that will.
Speaker 6 (06:59):
Have be part of a fiscal event.
Speaker 2 (07:02):
The Prime Minister Kistarma, speaking there as Boomberg reports that
the policy has been widely blamed for the labor parties,
collapsing poll ratings and poor performance in May's local elections.
So those are some of our top stories en for
you this hour. Let's get to the markets. So Wall
Street is now increasingly concerned around the ballooning deficit. Of course,
(07:24):
the Republican tax bill is fast approaching. Actually they've been
talking late into the night in Washington, DC about this.
US stocks tumbled with rising yields. There was also this
week twenty year auction last night which was quite a
red flag. Thirtye yields jump twelve basis points yesterday, they
briefly touched five point at one percent. This morning, Let's
(07:46):
have a look at ten year treasury yields end because
those two have been moving somewhat. They are down actually
a basis point this morning at four fifty nine. Okay,
so some pressure maybe easing at the moment. Looking at
the dollar, are we are weaker ten one tenth of
one percent, three sessions of losses. Gold also rising, and
bitcoin this morning has also hit a fresh record high.
So Bitcoin now up two point eight percent, one hundred
(08:09):
and eleven thousand dollars above that mark. For bitcoin. So
those are the markets now coming up. In just a moment,
we will bring you the latest when it comes to Washington,
d C. And a fatal shooting of two people outside
a museum overnight. And we'll also talk about what happened
in the Oval Office, some parallels of course to what
(08:30):
happened with Ukraine's Vodomis and INSTCUW and he went to
the Oval Office with South Africa's president. But before we
get onto that, you know, lots of very serious news.
Something a bit lighter caught my eye today too, Formula
one memorabilia. Apparently there is a boom beginning in this.
On Saturday in Monaco, M Sotherby's it's putting up for sale,
(08:52):
Michael Schumacher's two thousand and one Ferrari. This is the
one that won, you know, the major trophies for him.
It's estimated to be sold for around fifteen million euros.
That's almost seventeen million dollars. Bloomberg Pursuits Hannah Elliott has
been writing all about this. Why is there this booming
memorabilia market? Of course, it's to do with the focus
(09:15):
and the TV shows that have been made about F one,
which in turn has triggered huge popularity for the sport
in the US, and it follows this waive of very
high profile auctions that we've already seen. In April, Ayrton
Senna his McLaren Honda Formula one helmets sold for almost
a million dollars. And apparently there are plenty more of
(09:36):
these sort of keepsake sales, as even one in Lake
Como over the weekend. So lots of people want this
old gear from well driving legends. Now let's turn our
attention then to what happened in the Oval Office yesterday,
President Trump staging another ambush of a world leader, playing
(09:56):
a video for President similar Opposa that claim to show
a genocide against white farmers in South Africa joining us
now to discuss its been big Senior editor for US
Government and Economics, Bill Ferries, Bill, good morning, Welcome to
the program. Thanks for your time. How damaging is it
for South Africa to have this unfounded accusation by the
(10:17):
US administration. Is there any merit in this accusation whatsoever?
Speaker 4 (10:23):
Well, I think South Africa, I think the government wants
to get ahead of as much as it can. At
this point of Trump's remarks, his claims about a genocide
taking place because they don't want it to take hold,
and there is a real threat that trade ties could
be impacted if this, if this belief really gets a
better grip, you know, in terms of the reality of
(10:47):
the claim. I mean, this has been it's been widely debunked.
I mean, of course, black South Africans were largely stripped
of the right to even own land during the apartheid
and colonial era. That was lifted on return to democracy.
But white people still own more than seventy percent of
the rural land in South Africa. But when you're talking
(11:09):
about you're talking about crime, violent crimes. It's a country
with a high violent crime rate, but of course the
victims are almost overwhelmingly young black men. Last year, according
to the government data, there were fifty five murders that
took place on farms. Many of those would expected to
(11:32):
be white farmers, but they don't break it down by race.
But that's compared to more than twenty seven thousand murders
that took place elsewhere, So there's certainly a problem of violence.
I think one interesting thing about these claims being made
by the Trump administration is that has really united South
Africans politically behind this government. This is the government that
(11:54):
has Afrikaners in the cabinet, that has Africaners support in
the business community. So it's a widely debunked claim, but
one that President Trump continues to hold on to.
Speaker 2 (12:07):
And yeah, some of my opposer was still optimistic about
President Trump despite it being you know, a trap South
Africa opting to engage with the US. I will President
Trump actually go to the G twenty, That's another question
because that's being held a zalafka.
Speaker 4 (12:21):
He was optimistic. I think he took the lesson from
that that kind of blow up with Ukrainian President of
Vladimir Zelenski and Trump just a month or two ago.
He said, Rama Posa came out of the meeting and
said he still thinks that that Trump will participate in
the G twenty, that he doesn't want to hand off
the presidency of the G twenty to an empty chair.
(12:43):
So I think that still remains to be seen, and
I think he's really he really wants to focus on
these trade ties and find a way to get past this.
We heard this from the South African delegation. They said, okay,
they essentially the US got this out of their system.
Now we want to talk about trade and the G twenty.
Trade is very important in South Africa with the US,
(13:04):
and so we'll have to see how that plays out
when this reciprocal tariff period kind of wraps up in
potentially about forty days.
Speaker 2 (13:14):
Yeah. Absolutely, Bill, thank you so much for being with
me this morning and discussing what happened in the Oval office.
Blueberg's senior editor, Bill Ferries, thank you so much for
your time. Now, two members of the Israeli embassy staff
have been fatally shot outside a museum in Washington, DC overnight.
We've learned this just within the past few hours. Boomberg's
EMEA news director ro was in Matheson is with us.
(13:37):
What exactly do we know about this incident so far?
Speaker 4 (13:39):
Ross?
Speaker 6 (13:40):
Well, as you say, what we know is that last
night a young couple from the Israeli embassy apparently they
were a couple who were about to go back to
Israel to become engaged. We're at the museum in Washington
for the evening and we're fatally shot by a single
suspect who was reported to shouted Free Palestine in the
(14:02):
aftermath and has now obviously been detained, and you can
see immediately the condemnation that's come across the Aisle in
Washington over this. I mean, you can see Donald Trump
saying this seems to have been an anti Semitic event.
You can see the Democrats saying same, and the mayor
of Washington, DC also so an immediate rallying around the
(14:25):
Israeli community. They're the Jewish community in DC. In the
aftermath of this shooting. They so they are investigating further.
They don't know whether this has broader links to anything,
or whether this was someone acting just on their own,
but obviously it comes at a time when not just
in the US, but obviously in the Middle East as well.
(14:46):
You know, there's a lot of tensions still over what's
happening in Gaza and one of the next steps by Israel.
Speaker 2 (14:52):
Yeah, absolutely rising tensions. As you say, there are have
been now dozens of AIG trucks that apparently been let
to Gaza for the first time in eighty days, and
yet tensions in the West Bank. Israeli soldiers mistakenly fired
warning shots, and a large group of diplomats from the EU,
from the UK, from China and a number of other
(15:14):
countries in the West Bank. So you know there is
rising tension between Israel and other countries.
Speaker 6 (15:20):
Well, that's right. As you say, there was this incident
yesterday where there was a large diplomatic group it seemed
to be going through the West Bank. The Israeli authorities
say that this group wanted into an area they weren't
supposed to. It was an active area, and therefore the
Israeli soldiers fired warning shots at them, which means they
fired over their heads. So there was obviously no injuries,
(15:43):
but it did raise criticism from a number of countries
for doing so, and it comes, as you see, really
a level of concern in Europe and beyond over the
situation in Gaza, where as you say, about ninety eight
trucks seem to have now gone in, but that's after
many weeks of no way going in whatsoever, and a
(16:04):
lot of concern about the level of hunger inside Gaza
and the humanitarian crisis that's going on there. And of
course the Israeli government's saying they're now trying to prevent hunger.
But it's noting that Benjamin Ntnia, who was the one
who stopped Date into Gaza. Of course, some weeks ago,
and the question is where does this all go in
terms of the concern from Europe in the US. But
(16:26):
does it change the tone particularly from the US.
Speaker 1 (16:29):
This is Bloomberg Daybreak Europe, your morning brief on the
stories making news from London to Wall Street and beyond.
Speaker 2 (16:35):
Look for us on your podcast feed every morning, on Apple, Spotify,
and anywhere else you get your podcasts.
Speaker 1 (16:41):
You can also listen live each morning on London DAB Radio,
the Bloomberg Business app, and Bloomberg dot Com.
Speaker 2 (16:47):
Our flagship New York station is also available on your
Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty.
Speaker 1 (16:55):
I'm Caroline Hepka and I'm Stephen Carroll. Join us again
tomorrow morning for all the news you need to start
your day right here on Bloomberg day Break Europe.
Speaker 5 (17:06):
M
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.