December 22, 2025 • 5 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News. Now, I'm
Doug prisoner. President Trump says the US will start a
land operation in Venezuela, similar to the strikes on boats
allegedly carrying drugs.
Speaker 2 (00:12):
Now.
Speaker 1 (00:12):
Last week, the US intercepted two oil tankers, and the
US is pursuing a third. Tonight, Trump was asked what
the US would do with that oil? Where's the good?
Speaker 3 (00:22):
We're going to sell it one of the strategic may
We'll sell it, keep it.
Speaker 4 (00:26):
Maybe we'll use it in the strategic reserves. We're keeping it.
Speaker 5 (00:30):
We're keeping the ships.
Speaker 1 (00:31):
Also, President Trump speaking there. Meantime, the US Navy will
be building two new types of warships as part of
the White House push to modernize the Navy's surface fleet
and restore domestic shipbuilding. The Navy is pursuing a new
frigate based on the Legend class cutter, as well as
a Trump class warship.
Speaker 2 (00:50):
Now.
Speaker 1 (00:51):
These new ships are part of the President's Golden Fleet
bid to revive US shipbuilding. Here is Navy Secretary John
Phalen pulls into a foreign report.
Speaker 3 (01:02):
There will be a source of pride for every American
when it brings home our brave sailors who will sail
defiant raise their fists as say we are piece through strength.
Speaker 1 (01:12):
Maybe. Secretary John Phalen Elon Musk demanded electric doors in
Tesla vehicles despite concern over their safety. We are told
Musk's directive was clear, virtually everything in the new vehicle,
including the doors, should be controlled electronically through the push
of a button or the tap of a touch screen. However,
we are told some Tesla engineers argued for mechanical handles,
(01:37):
and they raised concern about the potential safety hazards of
electric systems. Larry Ellison is throwing his personal fortune behind
the bid from his son's company for Warner Brothers Discovery.
The senior Ellison is providing a personal guarantee of forty
billion dollars in equity for financing from Paramount's guidance. Here
(01:57):
is Stephen Flynn from Bloomberg Intelligence.
Speaker 5 (02:00):
Mid last week, the Warner Brothers Discovery board recommended shareholders
do not participate in the tenor offer, and they listed
the reasons why. Now, what Paramount this Morning has done
is kind of address many of those reasons, particularly given
the Larry Ellison guarantee. So I believe Paramount is going
to see how many shares they get to participate in
the tenor offer and if they need to, you know,
conversations with shareholders, if they need to raise it to
(02:21):
a certain level. At their struggle, it's still comfortable with
I'd imagine that's what they would do.
Speaker 1 (02:24):
That is analyst Stephen Flynn from Bloomberg Intelligence. At the
same time today, Netflix said it refinanced part of a
fifty nine billion dollar bridge loan with cheaper and longer
term debt. Sachs Global Enterprises may be filing for bankruptcy.
We're told the company is considering Chapter eleven as a
last resort. More from Bloomberg's Charlie.
Speaker 2 (02:45):
Pellett, sax is facing limited options ahead of a more
than one hundred million dollar debt payment DOE at the
end of this month. Those sources say the retailer is
also weighing additional ways to shore up liquidity, including raising
emergency financing or selling assets. Sachs did raise billions of
dollars from bond investors late last year to finance a
(03:08):
bold turnaround plan centered on the acquisition of Nieman Marcus,
betting that scale would revive the struggling luxury retailer. Instead,
the deal deepened the company's debt burden. In New York,
Charlie Pellot Bloomberg.
Speaker 1 (03:21):
Radio, BET Governor Stephen Myron said the US Central Bank
risk sparking a recession unless it continues lowering interest rates
next year. Here is Myron speaking earlier to Bloomberg Television.
Speaker 4 (03:33):
So I don't see a recession in the near term,
in part because we are adjusting our policy rate, belowering it,
which is appropriate.
Speaker 3 (03:40):
You know.
Speaker 4 (03:40):
My view, as as I've described, is that a variety
of shocks that hit the economy, you know, including changes
to the population growth rate due to the changes in
the border policy, have pushed what we call the neutral
rate down, and that policy needs to adjust downward to
reflect that downward shift in neutral. If we don't adjust
policy down then I think that we do run risks
of right of rising recessions.
Speaker 1 (04:01):
That is FED Governor Stephen Myron, who has argued for
larger rate cuts since he joined the fed's Board of
Governors in September. Incidentally, his term expires in January. And
you can hear more from Steven Myron on the Bloomberg
Talks podcast tomorrow. We'll get an initial reading on third
quarter economic growth, and Bloomberg Economics is estimating the American
(04:23):
economy likely grew at more than three percent, supported by
robust consumer spending and modest investment gains. Today, the CEO
of Bank of America, Brian moynihan said the economy is
in good shape. Here is moynihan speaking to Bloomberg Television.
Speaker 3 (04:39):
In the third quarter, it was up about five percent
of last year. As we look at the fourth quarter
here so far in October November, I sat in a
four to four and a half percent, which is very
consistent with a very solid growing economy. You know, at
the end of day, it's going to work against wage growth,
and we see in the underline consumers we have wage
growth either paychecks are going up and so well. The
(05:00):
labor markets flattened out a little bit in terms of
job growth and things like that. It's normalizing in terms
of unemployment, but you still see underlying wage growth.
Speaker 1 (05:08):
That is Brian Moyinhan, CEO of Bank of America, speaking
earlier to Bloomberg. And that is news when you want it.
With Bloomberg News. Now, I'm Derek Krisner, and this is
Bloomberg
News when you want it with Bloomberg News. Now, I'm
Doug prisoner. President Trump says the US will start a
land operation in Venezuela, similar to the strikes on boats
allegedly carrying drugs.
Speaker 2 (00:12):
Now.
Speaker 1 (00:12):
Last week, the US intercepted two oil tankers, and the
US is pursuing a third. Tonight, Trump was asked what
the US would do with that oil? Where's the good?
Speaker 3 (00:22):
We're going to sell it one of the strategic may
We'll sell it, keep it.
Speaker 4 (00:26):
Maybe we'll use it in the strategic reserves. We're keeping it.
Speaker 5 (00:30):
We're keeping the ships.
Speaker 1 (00:31):
Also, President Trump speaking there. Meantime, the US Navy will
be building two new types of warships as part of
the White House push to modernize the Navy's surface fleet
and restore domestic shipbuilding. The Navy is pursuing a new
frigate based on the Legend class cutter, as well as
a Trump class warship.
Speaker 2 (00:50):
Now.
Speaker 1 (00:51):
These new ships are part of the President's Golden Fleet
bid to revive US shipbuilding. Here is Navy Secretary John
Phalen pulls into a foreign report.
Speaker 3 (01:02):
There will be a source of pride for every American
when it brings home our brave sailors who will sail
defiant raise their fists as say we are piece through strength.
Speaker 1 (01:12):
Maybe. Secretary John Phalen Elon Musk demanded electric doors in
Tesla vehicles despite concern over their safety. We are told
Musk's directive was clear, virtually everything in the new vehicle,
including the doors, should be controlled electronically through the push
of a button or the tap of a touch screen. However,
we are told some Tesla engineers argued for mechanical handles,
(01:37):
and they raised concern about the potential safety hazards of
electric systems. Larry Ellison is throwing his personal fortune behind
the bid from his son's company for Warner Brothers Discovery.
The senior Ellison is providing a personal guarantee of forty
billion dollars in equity for financing from Paramount's guidance. Here
(01:57):
is Stephen Flynn from Bloomberg Intelligence.
Speaker 5 (02:00):
Mid last week, the Warner Brothers Discovery board recommended shareholders
do not participate in the tenor offer, and they listed
the reasons why. Now, what Paramount this Morning has done
is kind of address many of those reasons, particularly given
the Larry Ellison guarantee. So I believe Paramount is going
to see how many shares they get to participate in
the tenor offer and if they need to, you know,
conversations with shareholders, if they need to raise it to
(02:21):
a certain level. At their struggle, it's still comfortable with
I'd imagine that's what they would do.
Speaker 1 (02:24):
That is analyst Stephen Flynn from Bloomberg Intelligence. At the
same time today, Netflix said it refinanced part of a
fifty nine billion dollar bridge loan with cheaper and longer
term debt. Sachs Global Enterprises may be filing for bankruptcy.
We're told the company is considering Chapter eleven as a
last resort. More from Bloomberg's Charlie.
Speaker 2 (02:45):
Pellett, sax is facing limited options ahead of a more
than one hundred million dollar debt payment DOE at the
end of this month. Those sources say the retailer is
also weighing additional ways to shore up liquidity, including raising
emergency financing or selling assets. Sachs did raise billions of
dollars from bond investors late last year to finance a
(03:08):
bold turnaround plan centered on the acquisition of Nieman Marcus,
betting that scale would revive the struggling luxury retailer. Instead,
the deal deepened the company's debt burden. In New York,
Charlie Pellot Bloomberg.
Speaker 1 (03:21):
Radio, BET Governor Stephen Myron said the US Central Bank
risk sparking a recession unless it continues lowering interest rates
next year. Here is Myron speaking earlier to Bloomberg Television.
Speaker 4 (03:33):
So I don't see a recession in the near term,
in part because we are adjusting our policy rate, belowering it,
which is appropriate.
Speaker 3 (03:40):
You know.
Speaker 4 (03:40):
My view, as as I've described, is that a variety
of shocks that hit the economy, you know, including changes
to the population growth rate due to the changes in
the border policy, have pushed what we call the neutral
rate down, and that policy needs to adjust downward to
reflect that downward shift in neutral. If we don't adjust
policy down then I think that we do run risks
of right of rising recessions.
Speaker 1 (04:01):
That is FED Governor Stephen Myron, who has argued for
larger rate cuts since he joined the fed's Board of
Governors in September. Incidentally, his term expires in January. And
you can hear more from Steven Myron on the Bloomberg
Talks podcast tomorrow. We'll get an initial reading on third
quarter economic growth, and Bloomberg Economics is estimating the American
(04:23):
economy likely grew at more than three percent, supported by
robust consumer spending and modest investment gains. Today, the CEO
of Bank of America, Brian moynihan said the economy is
in good shape. Here is moynihan speaking to Bloomberg Television.
Speaker 3 (04:39):
In the third quarter, it was up about five percent
of last year. As we look at the fourth quarter
here so far in October November, I sat in a
four to four and a half percent, which is very
consistent with a very solid growing economy. You know, at
the end of day, it's going to work against wage growth,
and we see in the underline consumers we have wage
growth either paychecks are going up and so well. The
(05:00):
labor markets flattened out a little bit in terms of
job growth and things like that. It's normalizing in terms
of unemployment, but you still see underlying wage growth.
Speaker 1 (05:08):
That is Brian Moyinhan, CEO of Bank of America, speaking
earlier to Bloomberg. And that is news when you want it.
With Bloomberg News. Now, I'm Derek Krisner, and this is
Bloomberg
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