All Episodes

January 3, 2025 • 16 mins

On today's podcast:

1) The FBI says the truck attack in New Orleans was an act of terrorism 

2) Republicans hope to avoid a leadership fight as Congress votes for House Speaker today

3) Sources tell Bloomberg President Biden is set to stop the sale of US Steel to Nippon Steel

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Episode Transcript

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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.

Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.

Speaker 3 (00:15):
Karen, we begin with the latest on the deadly New
Year's Day attacks in New Orleans and Las Vegas. The
FBI has found no evidence linking the attacks. It says
the New Orleans attacker appeared to have drawn his inspiration
from Islamic State. Christopher Riah is Assistant Deputy Director for
the FBI.

Speaker 4 (00:32):
This was an act of terrorism, It was premeditated and
an evil act. At this point, there is no definitive
link between the attack here in New Orleans and the
one in Las Vegas.

Speaker 3 (00:47):
Still, FBI Assistant Deputy Director Christopher Raya says there were similarities.
Both suspects had military backgrounds, and they rented their vehicles
through the same car sharing app Turo. Investigators do, though,
believe that both men acted a lot well.

Speaker 5 (01:00):
Nathan.

Speaker 2 (01:01):
President Biden addressed the incidents yesterday, saying he stands with
the people of New Orleans.

Speaker 6 (01:06):
People in New Orleans are sending an unmistakeable message they
will not let his attack or the attackers deluded ideology
overcome US.

Speaker 2 (01:15):
President Biden says he's directing the FBI to continue looking
for any link to foreign terrorism. President ELEC. Donald Trump
sought to draw links between the attacks and border policy
under Biden in a post on social media, despite the
suspects being US citizens.

Speaker 3 (01:30):
Well, Meantime, in Washington, Karen, lawmakers are curing up for
a big vote on Capitol Hill. The House of Representatives
names the new speaker today as the new Congress gets underway,
and President like Trump says he's going to lobby Republicans
to back the current speaker, Mike Johnson. Let's get more
from Bloomberg Zami Morris in Washington. The message from Speaker Johnson.

Speaker 7 (01:51):
We need to stay unified so we can save the country.
And I think that's an important message.

Speaker 1 (01:54):
Ye Well, Trump acknowledges some lawmakers in the party have
reservations about allowing Johnson to retain the gabble.

Speaker 4 (02:00):
I think a new support Skicky Johnson.

Speaker 7 (02:02):
Almost everybody likes him.

Speaker 4 (02:03):
Others are very good too, but they have thirty or
forty people that don't like him, so that's pretty tough.

Speaker 1 (02:09):
The party will hold a narrow majority in the incoming House,
and Johnson is facing criticism from ultra conservative lawmakers after
backing a temporary spending bill that failed to include the
President of elects demands for lifting the dead ceiling. Some
Republicans are worried that a clash could hamper efforts to
enact Trump's agenda in Washington. Amy Moore as Bloomberg Radio.

Speaker 2 (02:28):
Right, Amy, thank you. We do have another major political
note this morning. Sources tell Bloomberg News that President Biden
will block the sale of US Steel to Japanese own
nip On Steele, and Bloomberg's John Tucker joins us with
the details. John, what's the reasoning behind this?

Speaker 7 (02:42):
Good morning, Karen. The President has arked US Steel should
remain American owned and operated. He's never said outright that
he would block the deal. The White House planning to
announce the decision today and now, ironically, the future of
US Steele is actually in question. The company may have
to restart the sale process and they could struggle to
find a buyer for the entire company. Cleveland Cliffs, which

(03:05):
is based in neighboring Ohio, they pursued US Steel before
nip On Steel won the bidding, but it has since
bought a Canadian producer, so they're probably out of the picture.
The acquisition first announced twelve months ago that became a
political flash point during the election. Some worry the sale
of the American company to a foreign entity would amount
to a national security risk. The fourteen point one billion

(03:28):
dollar deal may now wind up in court. At US
steel shares this morning pre market, they are down over
eight percent. York IM John Tucker, Bloomberg Radio.

Speaker 3 (03:38):
All right, John, thank you. Meanwhile, back in Washington, we're
learning more about reports of a hack at the US
Treasury Department, sources tell Bloomberg News. Chinese state sponsored hackers
broke into the computers of senior Treasury leaders, accessing unclassified
materials stored locally on their computers. Hackers were said to
have access drafts and notes for policy decisions, itineraries, and

(03:58):
travel planning documents, but did not compromise Treasuries email system
or classified systems.

Speaker 2 (04:04):
Well, we're turning now to the markets, Nathan and US
stock index futures are higher as the S and P
looks to snappy five day losing streak. Investors get some
hints on the economy today with figures on US manufacturing
do out and longer term traders are searching for policy
clarity from a second Trump administration. At Yar Denny, president
at Your Denny Research tells us despite political instability, he

(04:27):
remains optimistic about US equities.

Speaker 8 (04:30):
I've been in the stay home camp versus go global
since twenty ten. In other words, from a US perspective,
I've been recommending that US investors overweight the US relative
to the global economy. And oh, by the way, for
global investors, I've been basically saying the same thing. You
want to overweight the United.

Speaker 2 (04:50):
States at Your Denny with Your Denny Research, says the
strength and resilience of the US economy gives him optimism
about stocks in the coming years.

Speaker 3 (04:58):
You want markets overseas and China's I'm sure you want
as we can past seven point three per dollar. That's
the level Chinas been defending since late last year. The
breach reflects concerns over China's economic struggles and a widening
bond yield discount to the US. It could signal the
People's Bank of China's looking to accommodate mounting growth pressures

(05:18):
through a weaker currency.

Speaker 2 (05:20):
Well. Nathan, turning to some individual US companies now shares
of Tesla, They're up at one point three percent this morning.
That's after the ev giant announced annual sales drops for
the first time in more than a decade. Bloomberg's David
Welch says it's a growing concern for the car maker.

Speaker 9 (05:35):
Tesla has more competitors in the US now, GM has
a lot of evs out, Hyundai and Kia do as well,
and then in China, of course they've got big competition
with BYD and the other domestic players there. So Tesla
no longer has this this stranglehold on the market that's
been happening for a while, and I think it's gathering steam.

Speaker 2 (05:53):
Bloomberg's David Welch says. Slumping sales for Tesla come despite
a year end push that sent deliveries to a record
in the fourth quarter. Time now for a look at
some of the other stories making news in New York
and around the world, and for that we're joined by
Bloomberg's Michael Barr.

Speaker 10 (06:10):
Michael, Good morning, Good morning Karen. If you ask the
Port Authority and the MTA, it's happening. New Jersey drivers
soon will pay more if they go to Manhattan. The
Poort Authority announced that new congestion pricing rates will go
into effect starting this Sunday. It will affect any driver
entering from sixtieth Street in Manhattan and below all the

(06:30):
way down to New York's Financial District. However, a judge
will issue a decision today on whether to stop the
tolling plan. The hearing today is at three PM, and
New Jersey lawmakers aren't giving up. Tom Bracken is with
the New Jersey Chamber of Commerce.

Speaker 11 (06:46):
The slap in the face that New York is giving
us to ask us to pay for their Metropolitan Transit
financial shortfall is absolutely disgusting.

Speaker 10 (06:56):
Audio courtesy of ABC seven. The MTA fired by back
at New Jersey lawmakers, saying in a statement, nobody in
their right mind should take transportation advice from the New
Jersey politicians who will woefully failed to manage transit in
their state. Police in southern California say two people are
dead and nineteen others injured after a small plane crash

(07:17):
to the roof of a furniture manufacturing building. The accident
near the Fullerton Municipal Airport in Orange County caused a
fire and prompted the evacuation of at least two hundred workers.
The FAA and NTSB are investigating and say the aircraft
is a four seat, single engine aluminum airplane. The NTSB's
Elliot Simpson, it's.

Speaker 5 (07:37):
A kit built airplane.

Speaker 12 (07:39):
It's a very popular airplane. It's about eleven hundred of
the movement built and about eleven thousand Vans aircraft have
been built, so it's a pretty popular kit built airplane.

Speaker 10 (07:48):
The NTSB's Elliot Simpson also says shortly after take off,
the pilot called for an immediate return to the airport.
At the White House, President Biden presented twenty Presidential Citizens Medals.
Recipients include former Wyoming Republican Representative List Cheney, who served
as the vice chair of the House January sixth Committee.
Biden applauding the honorees and says they have performed exemplary

(08:12):
deeds of service for their country or their fellow citizens.

Speaker 6 (08:15):
Our democracy begins and ends the duties of citizenship. That's
our work for the ages. That's for all of you.
I mean this, all of you.

Speaker 11 (08:25):
Embody.

Speaker 10 (08:26):
Also receiving the award, Democratic Representative Benny Thompson, who chaired
the January sixth committee. Meanwhile, President elect Trump says those
who were on the committee should be jailed. Global News
twenty four hours a day and whenever you want it
with Bloomberg News now him Michael barrn. This is Bloomberg Carey.

Speaker 2 (08:42):
All right, Michael barr thank you time now for the
Bloombery Sports Update, brought to you by Tri State OUDI.
Here's John Stashauer.

Speaker 5 (08:54):
John, good morning, Good morning care And they expanded college
football boy off now down to the field.

Speaker 10 (08:58):
It used to be.

Speaker 5 (08:59):
Four teams remain and they are four of the seven
winning this teams in college football history. A week from
tonight in Dallas, Texas would play Ohio State. The night
after a semifinal game in Miami, Penn State against Notre Dame,
the Fighting Iris took on Georgia and the Sugar Bowl
in New Orleans. And this was how the second half began.

Speaker 3 (09:16):
Here's a kick to start the half.

Speaker 12 (09:18):
Jaydon Harrison making a chance here, going to bring it
out from his own two yard line, cuts it.

Speaker 5 (09:23):
In side, takes it out to the.

Speaker 12 (09:24):
Far slide across the numbers.

Speaker 10 (09:25):
Hold on the far sideline.

Speaker 1 (09:27):
Jane Harrison hit the checks across midfield forty thirty tway ten.

Speaker 5 (09:33):
HiT's a touchdown kick off.

Speaker 9 (09:35):
Return to Chandan Harrison.

Speaker 5 (09:38):
Ninety eight yards. Notre Dame Network Irish won twenty three
ten over Name scored seventeen points in a fifty four
second span. The four teams that had first round by
is all lost to the teams that won in the
first round at the Garden and went for the Rangers
first period goal stood up two to one over the
Bruins ends the Rangers four game losing streak at Ubs,
same score, Toronto top the Islanders. Capitals lost to the

(10:00):
Wild four to three. Good win for the Nets one
thirteen to one ten in Milwaukee, twenty six points for
Cam Johnson, thirty three for Jason Tatum. Celtics one at
Minnesota one eighteen one fifteen Golden State Blue out Philly
by thirty four. Steph Curry took eight three pointers, made
all eight. The Thunder beat the Clippers. That's thirteen wins
in a row for Oklahoma City, who tonight will host

(10:20):
the Knicks. They've got a nine game winning streak of
their own. This will be the second game that Knicks
fans who have Optimum Cable will not be able to
watch due to the dispute with the MSG network. Pro
Bowl rosters out the Ravens led the way with nine
selections the Lions at seven. Washington's Jaden Daniels only the
fourth rookie quarterback to be named Giants Dexter Lawrence name
for the third straight year. The Jets one of only

(10:41):
four teams without a pro bowler. John Stashewer Bloomberg Sports,
Karen and Nathan.

Speaker 1 (10:48):
Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, and.

Speaker 11 (10:53):
Around the world on Bloomberg dot Com and the Bloomberg
Business app.

Speaker 1 (10:57):
This is Bloomberg Day Break.

Speaker 3 (10:59):
Good morning, Nathan Hager. The scenes are getting back to normal,
but the investigations continue into the deadly New Year's Day
truck attack in New Orleans and cyber truck explosion in
Las Vegas. President Biden says he has directed authorities to
accelerate their probes into both attacks.

Speaker 6 (11:15):
We're also continuing to investigate whether or not there's any
connection between the New Orleans attack and the explosion in
Las Vegas as of now. As of now, they've just
been briefed there have not found any evidence of such
a connection thus far.

Speaker 3 (11:29):
President Biden spoke from the White House for more on
this and all the political news this morning, were joined
by Bloomberg News Senior editor Bill Ferries. So, Bill, we
just heard the President say that they've found no credible
link between the attacks at this point, but these incidents
do share some pretty striking similarities.

Speaker 12 (11:47):
Good morning, Hey, good morning, Thanks for having me. It
is a really unusual situation, both of these attacks taking
place on New Year's Day. The suspect in that New
Orleans attack an Army veteran who rented his vehicle on
the app on the app Turo and had served at

(12:07):
what was known as Fort Bragg at one point and
had been in Afghanistan. The suspect confirmed dead and then
Las Vegas attacks shared basically all of those same attributes.
They were both in Afghanistan in two thousand and nine,
they had both passed through He had passed through Fort
Bragg and also rented the cyber truck on Turo and

(12:30):
then drove it to Las Vegas. That said, at this
point in an investigation, police and federal officials would have
looked through phones and computers and things like that. I
think ultimately what they're finding is that there was no
communication between these two people. They don't seem to have
anything in common. Besides what they did on January first.

Speaker 3 (12:53):
Just the fact that in the cyber truck incident, the
suspect in that case was an Army green beret has
to be sending a shutter through the Army for a
situation like this to take place.

Speaker 12 (13:05):
Oh, absolutely, he's Army green beret. Appears to have been
on leave from his base in Germany. I think we
still are waiting for a lot of details in terms
of what his possible motivations would be. Investigators saying that
he appears to have died by a self inflicted gunshot

(13:25):
wound seconds or just moments before that fire and explosion
took place. They have not actually concretely identified him through
DNA or those things, but they did find his identification
and other belongings that they linked to him in the truck.
But there's going to be a deep look at sort

(13:46):
of what was going on in his mind, what has
been going on with people he talked to in the
days and weeks before this took place.

Speaker 3 (13:53):
And while the President has been focused, of course on
these incidents over the last couple of days, now that
he's been focused as well on his decision over whether
to allow the US steeled takeover by Nippon Steele to
go forward, and it looks like that decision is no.

Speaker 12 (14:13):
That's right. It looks like I think the President had
until early next week to make a final decision after
that Committee on Foreign Investment in the United States issued
its report to him. But we know from our reporting
that the White House is planning to announce this decision,
most likely today Friday, and that he is going to

(14:34):
reject it.

Speaker 10 (14:35):
Now.

Speaker 12 (14:35):
We signaled all along that he was likely opposed to
this deal, this fourteen billion dollar deal. It's been hanging
out there for I think it's been more than a
year now, but this will mean that he kind of
puts a final nail in the coffin of it. There
was an effort by the companies involved to try to
make some changes at the last minute that doesn't appear

(14:57):
to have convinced the administration to support it.

Speaker 3 (15:00):
Now, this is a victory for the United steel Workers Union.
It had been opposed to this deal going forward, but
the rank and file had kind of broken with the
leadership on this right.

Speaker 5 (15:11):
That's right.

Speaker 12 (15:14):
Local workers had signaled support for it. Local officials had
signaled some support for it. The company had worked a
couple times to try to revise the deal to make
it more appealing. We knew before the election that it
was a very difficult political It had slim chances of

(15:34):
passing before the election, But there was some thinking that
after you got past the election and people didn't have
to worry about the votes so much, that maybe either
President Biden or President Elect Trump, who also opposed it,
would change his mind. That hasn't happened.

Speaker 2 (15:49):
This is Bloomberg Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.

Speaker 3 (15:56):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.

Speaker 2 (16:02):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.

Speaker 3 (16:16):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (16:22):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it. In five minutes
or less. Search Bloomberg News Now and your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.

Speaker 3 (16:35):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg.

Speaker 10 (16:41):
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