August 10, 2025: Trump-Putin Alaska Summit In Focus, China AI Chip Revenue to the US, More

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Episode Transcript

Speaker 1 (00:01):
News when you wanted with Bloomberg News Now, I'm Doug Krisner.
European leaders are hoping to speak with Donald Trump before
his planned meeting this week with Russian leader Vladimir Putin,
and at the same time, EU foreign ministers are set
to convene an emergency meeting on Monday. Here is US
Ambassador to NATO Matthew Whittaker, speaking to CNN's State of
the Union.

Speaker 2 (00:22):
Well, obviously the decision is going to be made by
President Trump. You know, he agreed to meet with President
Putin in Alaska on Friday, and if he thinks that
that is the best scenario to invite Zelensky, then he'll
do that. And again we have you know, today's Sunday.
The meeting is happening on Friday. There's time to make

(00:42):
that decision. No decision has been made to this point.

Speaker 1 (00:44):
That is US Ambassador to NATO Matthew Whittaker, speaking earlier
to CNN's State of the Union. Meantime, Bloomberg has learned
Russian President Putin is demanding that Ukraine seed its entire
eastern Donbas area to Russia as well as Crimea as
conditions to unlocking a ceasefire and entering negotiations over a
lasting settlement. In Nvidia and Advanced micro Devices have agreed

(01:09):
to pay fifteen percent of their revenue from chip sales
in China to the US government. We're told it's part
of a deal with the Trump administration to secure export licenses.
Here is Bloomberg's mindmen Low.

Speaker 3 (01:20):
This is something that is quite unprecedented. No US companies
had done such a thing before. But it does sort
of reflect the pattern that we have seen so far
in the Trump administration, with the President asking for certain
things from companies, such as domestic investments in exchange for
things like lowering or exempting some of these companies from
US teriffs.

Speaker 1 (01:41):
That is Bloomberg's medmen low Now. Earlier, the FT reported
the Commerce Department had started issuing licenses for in Nvidia's
H twenty chips on Friday. That was two days after
in Nvidia CEO Jensen Wong met with President Trump. The
Trump administration is interviewing candidates to lead the Bureau of
Labors to Ticks, and this list reportedly includes one longtime

(02:03):
critic of the BLS. The Wall Street Journal reports one
of the people being interviewed is E. J Antony, the chief
economist at the Heritage Foundation. He has long criticized the
BLS's approach to collecting jobs data. Earlier this month, President
Trump fired the commissioner of the BLS following the release
of a week jobs report. The Trump administration is looking

(02:25):
to sell shares in mortgage giants Fannie May and Freddie
Mack in an IPO that could kick off later this year.
We have more from Bloomberg's Nathan Hager in Washington.

Speaker 4 (02:34):
A senior administration official says the plan could value the
government controlled mortgage giants at about a half trillion dollars
or more, and would involve selling five to fifteen percent
of their stock that could raise up to thirty billion dollars.
The official says no final decisions been made in President
Trump's still weighing his options, but the government's been considering
options for Fanny and Freddie ever since they were bailed

(02:57):
out after the global financial crisis Congression. All efforts to
free them from conservatorship have repeatedly failed on concerns about
how they'd affect mortgage costs and whether Fanny and Freddie
are committed to affordable housing. In Washington, I'm Nathan Hager
Bloomberg Radio.

Speaker 1 (03:11):
Meantime, Pershing Square founder Bill Ackman is suggesting a merger
of Fanny May and Freddie Mack. Posting on next Sunday,
Ackman said such a move could help lower mortgage rates
and improve efficiency. In the coming week, markets will focus
on readings of both US consumer inflation and retail sales.
Nannette Abohoff Jacobson is global investment strategist at Hartford Funds.

(03:34):
Here she is on Bloomberg Business Week Daily.

Speaker 5 (03:36):
You know, the inflation data so far has been two
point eight percent on core PCE. Core prices have gone
up and it's broadening. It's not just a few things,
it's a lot of things that we import. And so
next week is going to be a very important week.

Speaker 1 (03:50):
That is Nnette Abohoff Jacobson of Hartford Funds, speaking earlier
on Bloomberg Business Week Daily. Baseball umpire Jen Powell made
history this weekend, becoming the first woman to work a
regular season MLB game after starting her pro career in
the minor leagues back in twenty sixteen. Powell debuted Saturday
at first base for the Braves Marlins game.

Speaker 6 (04:12):
It was pretty amazing when we took the field and
it seemed like quite a few people started clapping and
saying my name is stuff. So that was pretty intense
and very very emotional.

Speaker 1 (04:26):
The forty eight year old Powell also served as home
Plate Empire on Sunday. She was a three time All
Conference Softball selection pick at Hofstra University and worked as
an NCAA Softball Empire from twenty ten to twenty sixteen.
And that is news when you want it with Bloomberg News. Now,
I'm Doug Prisner, and this is Bloomberg