October 2, 2025 • 15 mins
On today's podcast:
1) White House Budget Director Russell Vought is planning to swiftly dismiss federal workers, a sign that Republicans will lean into hardball tactics to pressure Democrats to cave to end a government shutdown. Vought told House lawmakers Wednesday that some federal agencies will move to terminate workers within one to two days, according to people familiar with the remarks, who requested anonymity to discuss a private meeting. White House Press Secretary Karoline Leavitt told reporters that layoffs would happen within “two days, imminent, very soon” but declined to give any details about what agencies or positions would be targeted. Meantime, the Trump administration is planning to cancel billions of dollars earmarked for hydrogen projects in California and the Pacific Northwest, as well as $18 billion in infrastructure funding for the New York metro region.
2) Federal Reserve Bank of Chicago President Austan Goolsbee said a lack of official data while the US government is shut down will make it harder for central bankers to interpret the economy. Goolsbee reiterated concerns about a recent pickup in services inflation, which he said could mean price pressures are persistent in parts of the economy least impacted by tariffs.
3) OpenAI has completed a deal to help employees sell shares in the company at a $500 billion valuation, propelling the ChatGPT owner past Elon Musk’s SpaceX to become the world’s largest startup. Current and former OpenAI employees sold about $6.6 billion of stock to investors including Thrive Capital, SoftBank Group Corp., Dragoneer Investment Group, Abu Dhabi’s MGX and T. Rowe Price, a person familiar with the transaction said. That boosted the US company’s price tag well past its previous $300 billion level during a SoftBank-led financing round earlier this year.
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 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 2 (00:15):
Karen, we begin with the fallout from the government shutdown.
The Trump administration is planning to use it to fire
federal workers this week. Bloomberg's Amy Morris is in Washington
with the latest.
Speaker 4 (00:26):
White House Budget Director Russell Vote is planning to swiftly
dismiss federal workers, assigned that Republicans are leaning into hardball
tactics to pressure Democrats to cave to end the shutdown,
sources tell Bloomberg. Vote told House lawmakers some federal agencies
will start terminating workers this week. Vice President JD. Vance
at the White House.
Speaker 5 (00:46):
If this thing drags on for another few days, or
god forbid, another few weeks, we are going to have
to lay people off. We're going to have to save
money in some places so the essential services don't get
turned off in other places.
Speaker 4 (00:57):
Van says the administration isn't targeting agies based on politics.
In Washington, Amy Morris Bloomberg Radio.
Speaker 2 (01:04):
All right, Amy, thank you. Meanwhile, the Trump administration has
also halted eighteen billion dollars in federal funding for infrastructure
projects in New York City. Budget Director Vote cited concerns
over diversity and equity policies, but President Trump had warned
he would use the shutdown to target quote Democrat Things.
Speaker 3 (01:22):
Nathan that could include projects in the energy space. Vote
also said he will cancel eight billion dollars earmarked for
renewable energy projects in more than a dozen states that
voted for Kamala Harris in the twenty twenty four presidential election,
including hydrogen projects in California and the Pacific Northwest.
Speaker 2 (01:40):
And with the government shutdown, Karen the Bureau of Labor
Statistics won't be releasing key economic data that the FED
keeps a close si on that includes tomorrow's September jobs report.
Chicago Fed President Austin Golesby, speaking to American public media,
says a lack of official government data makes it harder
for central bankers to interpret at the economy.
Speaker 6 (02:01):
I consider the Bureau of Labor Statistics job data to
be the absolutely best data source on jobs and statistics
in the entire world. If we aren't going to have those,
it's problematic.
Speaker 2 (02:16):
Chicago Fed President Austin goles We also reiterated concerns about
a recent pickup in services inflation.
Speaker 3 (02:22):
Well, Nathan, the Supreme Court is refusing to allow President
Trump to immediately fire Federal Reserve Governor Lisa Cook. It
means Cook can remain in her position until at least January,
when judges are due to hear arguments in her case.
Bloomberg's Michael McKee says the delay marks a long postponent
by the court.
Speaker 7 (02:41):
One reason maybe that they are taking up the case
of the FTC commissioner that the President is trying to fire,
whom the Court allowed to be fired. But they're going
to hear arguments in that case in December. And because
some of these previous cases have involved the Federal Reserve
and the Court has suggested their maybe some slack given
(03:03):
to the Fed that isn't given to these other agencies.
Speaker 3 (03:06):
And Bloomer's Michael McKee no said the Supreme Court decision
means Cook will continue to vote on interest rate decisions.
White House Press Secretary Caroline Levitt says President Trump was
well within his legal authority to fire Cook.
Speaker 2 (03:18):
Certain to Tech News Now, Karen open Ai has completed
a share sale that makes it the most valuable startup
in the world, surpassing Elon Musk's space X. Sources tell
Bloomberg that current and former employees of open Ai sold
roughly six point six billion dollars worth of shares to
a group of investors at a record five hundred billion
dollar valuation. Peter Elstrom is Bloomberg's executive editor for Global Tech.
Speaker 8 (03:41):
That is a big accomplishment for a startup that has,
you know, still still is losing lots of money, still
has to prove that it has a business model behind this.
But it's a big step up, especially because the valuation
is going up to five hundred billion dollars from three
hundred billion dollars just earlier this year when Soft Bank
led around financing in the company.
Speaker 2 (04:01):
Bloomberg's Peter Elstrom reports open Ai is locked in an
increasingly bitter fight for top AI engineers, and the share
sale is seen as one way to offer an incentive
for them who stay well.
Speaker 3 (04:12):
To geopolitics now Nathan, President Trump says he will be
meeting with Chinese President she in a month and that
soybeans will be a major topic of discussion. Bloomberg Steven
Engels says the President's using social media to accuse China
of hurting American soybean farmers.
Speaker 9 (04:28):
Trump is becoming increasingly concerned by the unrest, if you will,
by US farmers, because keep in mind, you know, traditionally
in the past decade or so, anywhere between twenty eight
to upwards of sixty percent of US soybean crops, which
is underway, by the way, the harvest is underway right now,
go to China.
Speaker 3 (04:48):
Bloomer Stephen Engle as that the President announced he plans
to use a small portion of tariff revenue to help farmers.
Speaker 2 (04:55):
In the Middle East, Karen Arab and Muslim leaders are
pushing Kamas to accept the twenty point he's planned for Gaza,
the President Trump announced this week. One senior official told
Bloomberg it's important to focus on what he called wins
in the plan, including an end to the displacement of Gazans.
The source also says the aim of a full Israeli
withdrawal is a significant achievement. Katar's Foreign ministry says Hamas
(05:18):
is preparing its response to the plan.
Speaker 3 (05:20):
We go to developments now in the war in Ukraine, Nathan.
Multiple reports say the US will provide Ukraine with intelligence
for a long range missile strikes on Russia's energy infrastructure,
and that the Trump administration is considering sending Kiev.
Speaker 4 (05:35):
More powerful weapons.
Speaker 3 (05:36):
Ukrainian President Vladimir Zelenski spoke this morning about the request
for a long range Tomahawk missiles from the US.
Speaker 10 (05:43):
We're thankful to President Trump.
Speaker 4 (05:48):
This Dalak.
Speaker 11 (05:49):
Last time we had very good meeting, very productive Dalak,
and we spoke about a long French missiles pass on.
Speaker 3 (05:58):
His Ukraine's President Vladimir Zelanski was speaking in Copenhagen to
take part in the European Political Community Summit.
Speaker 2 (06:07):
On Wall Street, Karen stocks climbed to a record on
the first day of fourth quarter trading. The Dow, SNP
and Nasdaq all hit record highs. As equities rally, so
does gold. Goldman Sachs strategists are saying this morning there's
room for bully and to rally even more. The firm
says interest from private investors presents large upside risk. Thereforecast
(06:27):
of forty three hundred dollars an ounce by the end
of twenty twenty six. This morning, Kobec's gold is trading
at thirty eight ninety nine thirty oh.
Speaker 3 (06:34):
We have a note in big tech this morning as well. Nathan.
Apple pausing a planned overhaul of its Vision pro headset
to focus on developing smart glasses that can rival metas products.
It's working on at least two types of smart glasses,
including one that will pair with an iPhone and another
with a display that could challenge Meta's ray band display.
Apple's glasses will rely heavily on voice interaction and artificial intelligence.
Speaker 2 (07:00):
The City Group is now the main home of President
Trump's money after years of getting shunned by major banks.
Bloomberg News has learned the relationship began after CEO Jane
Fraser congratulated the president on his second term win. The
President's wealth has surged in recent years, driving up potential
revenue for his bankers. Financial firms are previously unwilling to
take on the President's wealth after past failures to repay
(07:22):
loans tied to troubled business dealings.
Speaker 3 (07:27):
Time now for look at some of the other stories
making news in New York and around the world, and
from that we're joined by Bloomberg's Monica Rix.
Speaker 12 (07:33):
Monica, Good morning, Hey, Good morning, Karen. The United Nations
says it's now closely monitoring a global flotilla that was
intercepted by the Israeli Navy yesterday as it was sailing
to deliver some much needed aid to Palestinians in Gaza. You,
and spokesperson Stefan Jujarek.
Speaker 2 (07:48):
We're obviously following the flotilla very closely. We just we
do not want anyone to get hurt, and we want
people's rights to be respected.
Speaker 12 (07:57):
That flotilla included nearly fifty boats and five hundred activists,
including Greta Tumberg and Nelson Mandela's grandson. Meantime, Israel's Defense
minister has ordered all remaining Palestinians to leave Gaza City immediately,
saying anyone who stays will be considered a militant supporter
and face the full force of Israel's latest offensive. The
(08:17):
call coming as Hamas ways a potential peace deal from
President Trump to end the war and return remaining hostages.
Officials expect the death toll to keep rising in the
Philippines as rescuers there use backcoes and sniffer dogs to
sift through rubble of collapse buildings for survivors of a
powerful earthquake. At least seventy two people have died so far,
(08:38):
and destruction and rain is hampering rescue efforts. Two Delta
planes clipped each other overnight at New York's LaGuardia Airport.
Speaker 4 (08:46):
You guys sit cliffs correct, Yeah, we did their.
Speaker 12 (08:50):
Right wing CLI our notes that sound courtesy of Live
air Traffic Control dot Net. One of the planes had
just landed, the other was preparing for departure, and one
of the plane's wings hit the other's nose. One person
was hurt, a flight attendant who apparently suffered a knee injury.
TSA's warning your travel plans could be impacted by the
government shutdown with more delays and cancelations amid staffing shortages.
(09:14):
This traveler is worried about service in Ohio.
Speaker 4 (09:17):
You can only ask people to do so much genuinely.
Speaker 6 (09:20):
Even if a service is very important, people are only
going to do things out of the goodness of their heart.
Speaker 12 (09:24):
For so long, passport processing remains mostly unaffected. And renowned
conservationists Jane Goodaald has died. She was known for her
groundbreaking chimpanzee field research and globe spanning environmental advocacy. She
was ninety one Global News twenty four hours a day
and whenever you want it with Bloomberg News. Now, I'm
Monica Rix and this is Bloomberg Karen Nathan.
Speaker 3 (09:45):
All right, Monica, thank you, Thanks Monica. Time now for
our Bloomberg Sports update, and for that we bring in
John stash Hour.
Speaker 11 (09:52):
Thanks Karen, to be going to day. In baseball, there
are three decisive game threes in the Wildcard playoffs, the
Tigers and Guardians in Cleveland, where the state alive, winning
six to one, Padres and Cubs at Wrigleyfield, San Diego
won Game two, three nothing, Red Sox and the Yankees
in New York. The Yanks state alive, winning four to three.
One series did end. The Dodgers beat the Reds eight
to four. The Dodgers will now play the Phillies. Brian
(10:14):
Snicker will not return as manager of the Atlanta Braves,
a job he had the past decade. He'll remain as
an advisor. That's your Bloomberg Sports update.
Speaker 3 (10:23):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (10:31):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 2 (10:41):
Good morning, I'm Nathan Hager. Now, more than twenty four
hours into the federal government's shut down, the White House
says the first layoffs could begin in the next one
to two days. It may be assigned the Republicans ready
to play hardball to get Democrats to cave, but Vice
President jd Vance says they'll have little choice if this
goes on much longer.
Speaker 5 (10:59):
We are going to have to lay some people off
if the shutdown continues.
Speaker 4 (11:03):
We don't like that, we.
Speaker 5 (11:03):
Don't necessarily want to do it, but we're going to
do what we have to to keep the American people's
essential services continuing to run.
Speaker 2 (11:10):
And that was Vice President jd Vance at the White House.
For more, we're joined by Bloomberg News editor Alexander Pearson.
Alex I mean they do have a choice technically, don't they.
I mean, in the past, there have been temporary furloughs
of federal workers, So what is the strategy here? Good morning, Good.
Speaker 10 (11:26):
Morning, Nathan. Yeah, that's right. Previously, during government shutdowns like this,
federal workers would be furloughed, they wouldn't get any payment,
and then when the government reopened, they would basically all
be taken back and would get back pay, and what
the administration's doing here is sort of escalating the shutdown
fight by threatening to fire a lot of these non
(11:48):
essential workers. And that's been very much signal in the
last few days, and that's where they will head if
the Democrats don't crack and try to you know, don't
agree to pass they stop measure to reopen the government.
So it's definitely an escalation by the White House in
terms of this shutdown fight.
Speaker 2 (12:07):
Well, they're saying that the layoffs are going to happen
in the next day or two. Are we seeing signs
in federal agencies that that is already starting to happen,
that those preparations are taking place.
Speaker 10 (12:19):
So yeah, the Office of Management and Budget sent a
memo late last week asking for the agencies to draw
up plans for who you know would be fired under
this contingency. There's no indication yet that they've actually started
to implement any of those plans, and there's still not
been any reporting and certainly no announcement of which agencies
(12:40):
would be affected, what the scopes of the cuts would be.
At the moment, it's still very much the White House
signaling that they're going to go ahead without giving details
of what they actually plan to do.
Speaker 2 (12:51):
And in the meantime, we've already seen the White House
Budget Director talk about cutting billions of dollars in New
York City infrastructure spending as well as green energy projects
and other states led by Democrats. Is this all part
of the pressure campaign as well?
Speaker 10 (13:06):
That's certainly how it's being read, you know, in amongst
those journalists and also by the Democrats. It's interesting to
note that these sort of attacks on in terms of
suspending infrastructure funds in New York and also counseling hydrogen
projects on the West Coast, they're very much targeting, you know,
Democrat leading states, states that voted for Kamala Harris in
(13:27):
twenty twenty four, and so naturally the reaction by the
Democrats in those states has been to call it out
as political payback as a way of pressuring the Democrats
to fold in this shutdown fight. Although it's interesting to
note that the White House itself has not made that link.
They are claiming that, you know, that these funds are
not necessarily being used correctly and that they're probring you know,
(13:51):
whether there is compliance there, but it's certainly being read
as a way of putting Democrats under pressure.
Speaker 2 (13:56):
So in our last thirty seconds, Alex, are we seeing
that any signs that that pressure is being ought to
bear on Democrats, that they could be wavering in their
determination to push these healthcare cuts.
Speaker 10 (14:10):
Among leadership. No, they've at least publicly remained very steadfast
in the opposition to agree to any kind of deal
to reopen the government without that concession, without their demands
being met. But there are some moderate Democrats who in
the Senate who have been talking with moderate Republicans about
maybe some sort of deal that they could get through
(14:32):
to from the government for a very short amount of
time while they negotiate on Democrat demands. But it's not
really clear at this point of whether they're going to
get anywhere with that. Like I said, it's certain moderate
Democrats and the wider party seems to be steadfast in subposition.
Speaker 3 (14:47):
This is Bloomberry Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 2 (14:54):
Look for us on your podcast feed by six am
Eastern each morning on Apple, Spotify, or anywhere else.
Speaker 3 (15:00):
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 2 (15:15):
Plus. Listen coast to coast on the Bloomberg Business App
now with Apple CarPlay and Android Atto interfaces.
Speaker 3 (15:21):
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 on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 2 (15:34):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Ray
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 2 (00:15):
Karen, we begin with the fallout from the government shutdown.
The Trump administration is planning to use it to fire
federal workers this week. Bloomberg's Amy Morris is in Washington
with the latest.
Speaker 4 (00:26):
White House Budget Director Russell Vote is planning to swiftly
dismiss federal workers, assigned that Republicans are leaning into hardball
tactics to pressure Democrats to cave to end the shutdown,
sources tell Bloomberg. Vote told House lawmakers some federal agencies
will start terminating workers this week. Vice President JD. Vance
at the White House.
Speaker 5 (00:46):
If this thing drags on for another few days, or
god forbid, another few weeks, we are going to have
to lay people off. We're going to have to save
money in some places so the essential services don't get
turned off in other places.
Speaker 4 (00:57):
Van says the administration isn't targeting agies based on politics.
In Washington, Amy Morris Bloomberg Radio.
Speaker 2 (01:04):
All right, Amy, thank you. Meanwhile, the Trump administration has
also halted eighteen billion dollars in federal funding for infrastructure
projects in New York City. Budget Director Vote cited concerns
over diversity and equity policies, but President Trump had warned
he would use the shutdown to target quote Democrat Things.
Speaker 3 (01:22):
Nathan that could include projects in the energy space. Vote
also said he will cancel eight billion dollars earmarked for
renewable energy projects in more than a dozen states that
voted for Kamala Harris in the twenty twenty four presidential election,
including hydrogen projects in California and the Pacific Northwest.
Speaker 2 (01:40):
And with the government shutdown, Karen the Bureau of Labor
Statistics won't be releasing key economic data that the FED
keeps a close si on that includes tomorrow's September jobs report.
Chicago Fed President Austin Golesby, speaking to American public media,
says a lack of official government data makes it harder
for central bankers to interpret at the economy.
Speaker 6 (02:01):
I consider the Bureau of Labor Statistics job data to
be the absolutely best data source on jobs and statistics
in the entire world. If we aren't going to have those,
it's problematic.
Speaker 2 (02:16):
Chicago Fed President Austin goles We also reiterated concerns about
a recent pickup in services inflation.
Speaker 3 (02:22):
Well, Nathan, the Supreme Court is refusing to allow President
Trump to immediately fire Federal Reserve Governor Lisa Cook. It
means Cook can remain in her position until at least January,
when judges are due to hear arguments in her case.
Bloomberg's Michael McKee says the delay marks a long postponent
by the court.
Speaker 7 (02:41):
One reason maybe that they are taking up the case
of the FTC commissioner that the President is trying to fire,
whom the Court allowed to be fired. But they're going
to hear arguments in that case in December. And because
some of these previous cases have involved the Federal Reserve
and the Court has suggested their maybe some slack given
(03:03):
to the Fed that isn't given to these other agencies.
Speaker 3 (03:06):
And Bloomer's Michael McKee no said the Supreme Court decision
means Cook will continue to vote on interest rate decisions.
White House Press Secretary Caroline Levitt says President Trump was
well within his legal authority to fire Cook.
Speaker 2 (03:18):
Certain to Tech News Now, Karen open Ai has completed
a share sale that makes it the most valuable startup
in the world, surpassing Elon Musk's space X. Sources tell
Bloomberg that current and former employees of open Ai sold
roughly six point six billion dollars worth of shares to
a group of investors at a record five hundred billion
dollar valuation. Peter Elstrom is Bloomberg's executive editor for Global Tech.
Speaker 8 (03:41):
That is a big accomplishment for a startup that has,
you know, still still is losing lots of money, still
has to prove that it has a business model behind this.
But it's a big step up, especially because the valuation
is going up to five hundred billion dollars from three
hundred billion dollars just earlier this year when Soft Bank
led around financing in the company.
Speaker 2 (04:01):
Bloomberg's Peter Elstrom reports open Ai is locked in an
increasingly bitter fight for top AI engineers, and the share
sale is seen as one way to offer an incentive
for them who stay well.
Speaker 3 (04:12):
To geopolitics now Nathan, President Trump says he will be
meeting with Chinese President she in a month and that
soybeans will be a major topic of discussion. Bloomberg Steven
Engels says the President's using social media to accuse China
of hurting American soybean farmers.
Speaker 9 (04:28):
Trump is becoming increasingly concerned by the unrest, if you will,
by US farmers, because keep in mind, you know, traditionally
in the past decade or so, anywhere between twenty eight
to upwards of sixty percent of US soybean crops, which
is underway, by the way, the harvest is underway right now,
go to China.
Speaker 3 (04:48):
Bloomer Stephen Engle as that the President announced he plans
to use a small portion of tariff revenue to help farmers.
Speaker 2 (04:55):
In the Middle East, Karen Arab and Muslim leaders are
pushing Kamas to accept the twenty point he's planned for Gaza,
the President Trump announced this week. One senior official told
Bloomberg it's important to focus on what he called wins
in the plan, including an end to the displacement of Gazans.
The source also says the aim of a full Israeli
withdrawal is a significant achievement. Katar's Foreign ministry says Hamas
(05:18):
is preparing its response to the plan.
Speaker 3 (05:20):
We go to developments now in the war in Ukraine, Nathan.
Multiple reports say the US will provide Ukraine with intelligence
for a long range missile strikes on Russia's energy infrastructure,
and that the Trump administration is considering sending Kiev.
Speaker 4 (05:35):
More powerful weapons.
Speaker 3 (05:36):
Ukrainian President Vladimir Zelenski spoke this morning about the request
for a long range Tomahawk missiles from the US.
Speaker 10 (05:43):
We're thankful to President Trump.
Speaker 4 (05:48):
This Dalak.
Speaker 11 (05:49):
Last time we had very good meeting, very productive Dalak,
and we spoke about a long French missiles pass on.
Speaker 3 (05:58):
His Ukraine's President Vladimir Zelanski was speaking in Copenhagen to
take part in the European Political Community Summit.
Speaker 2 (06:07):
On Wall Street, Karen stocks climbed to a record on
the first day of fourth quarter trading. The Dow, SNP
and Nasdaq all hit record highs. As equities rally, so
does gold. Goldman Sachs strategists are saying this morning there's
room for bully and to rally even more. The firm
says interest from private investors presents large upside risk. Thereforecast
(06:27):
of forty three hundred dollars an ounce by the end
of twenty twenty six. This morning, Kobec's gold is trading
at thirty eight ninety nine thirty oh.
Speaker 3 (06:34):
We have a note in big tech this morning as well. Nathan.
Apple pausing a planned overhaul of its Vision pro headset
to focus on developing smart glasses that can rival metas products.
It's working on at least two types of smart glasses,
including one that will pair with an iPhone and another
with a display that could challenge Meta's ray band display.
Apple's glasses will rely heavily on voice interaction and artificial intelligence.
Speaker 2 (07:00):
The City Group is now the main home of President
Trump's money after years of getting shunned by major banks.
Bloomberg News has learned the relationship began after CEO Jane
Fraser congratulated the president on his second term win. The
President's wealth has surged in recent years, driving up potential
revenue for his bankers. Financial firms are previously unwilling to
take on the President's wealth after past failures to repay
(07:22):
loans tied to troubled business dealings.
Speaker 3 (07:27):
Time now for look at some of the other stories
making news in New York and around the world, and
from that we're joined by Bloomberg's Monica Rix.
Speaker 12 (07:33):
Monica, Good morning, Hey, Good morning, Karen. The United Nations
says it's now closely monitoring a global flotilla that was
intercepted by the Israeli Navy yesterday as it was sailing
to deliver some much needed aid to Palestinians in Gaza. You,
and spokesperson Stefan Jujarek.
Speaker 2 (07:48):
We're obviously following the flotilla very closely. We just we
do not want anyone to get hurt, and we want
people's rights to be respected.
Speaker 12 (07:57):
That flotilla included nearly fifty boats and five hundred activists,
including Greta Tumberg and Nelson Mandela's grandson. Meantime, Israel's Defense
minister has ordered all remaining Palestinians to leave Gaza City immediately,
saying anyone who stays will be considered a militant supporter
and face the full force of Israel's latest offensive. The
(08:17):
call coming as Hamas ways a potential peace deal from
President Trump to end the war and return remaining hostages.
Officials expect the death toll to keep rising in the
Philippines as rescuers there use backcoes and sniffer dogs to
sift through rubble of collapse buildings for survivors of a
powerful earthquake. At least seventy two people have died so far,
(08:38):
and destruction and rain is hampering rescue efforts. Two Delta
planes clipped each other overnight at New York's LaGuardia Airport.
Speaker 4 (08:46):
You guys sit cliffs correct, Yeah, we did their.
Speaker 12 (08:50):
Right wing CLI our notes that sound courtesy of Live
air Traffic Control dot Net. One of the planes had
just landed, the other was preparing for departure, and one
of the plane's wings hit the other's nose. One person
was hurt, a flight attendant who apparently suffered a knee injury.
TSA's warning your travel plans could be impacted by the
government shutdown with more delays and cancelations amid staffing shortages.
(09:14):
This traveler is worried about service in Ohio.
Speaker 4 (09:17):
You can only ask people to do so much genuinely.
Speaker 6 (09:20):
Even if a service is very important, people are only
going to do things out of the goodness of their heart.
Speaker 12 (09:24):
For so long, passport processing remains mostly unaffected. And renowned
conservationists Jane Goodaald has died. She was known for her
groundbreaking chimpanzee field research and globe spanning environmental advocacy. She
was ninety one Global News twenty four hours a day
and whenever you want it with Bloomberg News. Now, I'm
Monica Rix and this is Bloomberg Karen Nathan.
Speaker 3 (09:45):
All right, Monica, thank you, Thanks Monica. Time now for
our Bloomberg Sports update, and for that we bring in
John stash Hour.
Speaker 11 (09:52):
Thanks Karen, to be going to day. In baseball, there
are three decisive game threes in the Wildcard playoffs, the
Tigers and Guardians in Cleveland, where the state alive, winning
six to one, Padres and Cubs at Wrigleyfield, San Diego
won Game two, three nothing, Red Sox and the Yankees
in New York. The Yanks state alive, winning four to three.
One series did end. The Dodgers beat the Reds eight
to four. The Dodgers will now play the Phillies. Brian
(10:14):
Snicker will not return as manager of the Atlanta Braves,
a job he had the past decade. He'll remain as
an advisor. That's your Bloomberg Sports update.
Speaker 3 (10:23):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (10:31):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 2 (10:41):
Good morning, I'm Nathan Hager. Now, more than twenty four
hours into the federal government's shut down, the White House
says the first layoffs could begin in the next one
to two days. It may be assigned the Republicans ready
to play hardball to get Democrats to cave, but Vice
President jd Vance says they'll have little choice if this
goes on much longer.
Speaker 5 (10:59):
We are going to have to lay some people off
if the shutdown continues.
Speaker 4 (11:03):
We don't like that, we.
Speaker 5 (11:03):
Don't necessarily want to do it, but we're going to
do what we have to to keep the American people's
essential services continuing to run.
Speaker 2 (11:10):
And that was Vice President jd Vance at the White House.
For more, we're joined by Bloomberg News editor Alexander Pearson.
Alex I mean they do have a choice technically, don't they.
I mean, in the past, there have been temporary furloughs
of federal workers, So what is the strategy here? Good morning, Good.
Speaker 10 (11:26):
Morning, Nathan. Yeah, that's right. Previously, during government shutdowns like this,
federal workers would be furloughed, they wouldn't get any payment,
and then when the government reopened, they would basically all
be taken back and would get back pay, and what
the administration's doing here is sort of escalating the shutdown
fight by threatening to fire a lot of these non
(11:48):
essential workers. And that's been very much signal in the
last few days, and that's where they will head if
the Democrats don't crack and try to you know, don't
agree to pass they stop measure to reopen the government.
So it's definitely an escalation by the White House in
terms of this shutdown fight.
Speaker 2 (12:07):
Well, they're saying that the layoffs are going to happen
in the next day or two. Are we seeing signs
in federal agencies that that is already starting to happen,
that those preparations are taking place.
Speaker 10 (12:19):
So yeah, the Office of Management and Budget sent a
memo late last week asking for the agencies to draw
up plans for who you know would be fired under
this contingency. There's no indication yet that they've actually started
to implement any of those plans, and there's still not
been any reporting and certainly no announcement of which agencies
(12:40):
would be affected, what the scopes of the cuts would be.
At the moment, it's still very much the White House
signaling that they're going to go ahead without giving details
of what they actually plan to do.
Speaker 2 (12:51):
And in the meantime, we've already seen the White House
Budget Director talk about cutting billions of dollars in New
York City infrastructure spending as well as green energy projects
and other states led by Democrats. Is this all part
of the pressure campaign as well?
Speaker 10 (13:06):
That's certainly how it's being read, you know, in amongst
those journalists and also by the Democrats. It's interesting to
note that these sort of attacks on in terms of
suspending infrastructure funds in New York and also counseling hydrogen
projects on the West Coast, they're very much targeting, you know,
Democrat leading states, states that voted for Kamala Harris in
(13:27):
twenty twenty four, and so naturally the reaction by the
Democrats in those states has been to call it out
as political payback as a way of pressuring the Democrats
to fold in this shutdown fight. Although it's interesting to
note that the White House itself has not made that link.
They are claiming that, you know, that these funds are
not necessarily being used correctly and that they're probring you know,
(13:51):
whether there is compliance there, but it's certainly being read
as a way of putting Democrats under pressure.
Speaker 2 (13:56):
So in our last thirty seconds, Alex, are we seeing
that any signs that that pressure is being ought to
bear on Democrats, that they could be wavering in their
determination to push these healthcare cuts.
Speaker 10 (14:10):
Among leadership. No, they've at least publicly remained very steadfast
in the opposition to agree to any kind of deal
to reopen the government without that concession, without their demands
being met. But there are some moderate Democrats who in
the Senate who have been talking with moderate Republicans about
maybe some sort of deal that they could get through
(14:32):
to from the government for a very short amount of
time while they negotiate on Democrat demands. But it's not
really clear at this point of whether they're going to
get anywhere with that. Like I said, it's certain moderate
Democrats and the wider party seems to be steadfast in subposition.
Speaker 3 (14:47):
This is Bloomberry Daybreak, your morning podcast and the stories
making news from Wall Street to Washington and beyond.
Speaker 2 (14:54):
Look for us on your podcast feed by six am
Eastern each morning on Apple, Spotify, or anywhere else.
Speaker 3 (15:00):
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 2 (15:15):
Plus. Listen coast to coast on the Bloomberg Business App
now with Apple CarPlay and Android Atto interfaces.
Speaker 3 (15:21):
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 on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 2 (15:34):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Ray
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!