December 5, 2025 • 6 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now. I'm
Valerie Titel.
Speaker 2 (00:04):
And i am Caroline Hepke.
Speaker 1 (00:06):
Germany's ruling coalition it faces a key vote today that
could threaten the country's political stability. A group of around
eighteen lawmakers from Chancellor Friedrich MURTCDU party has rebelled against
the government's pension bill, which is due to go to
a final ballot in the coming hours. Although it's unclear
how many lawmakers will reject the law, with the majority
(00:27):
of just twelve, the German leader has little margin for error.
Here's our Germany Deputy bureau chief at Jenny Tier.
Speaker 3 (00:35):
If the bill doesn't pass, of course, this would mean
like you made a disruption, like a huge, massive crisis
for the German government. I mean, if you take a
look at the polls, the far right party Alternative for
Germany is had in some polls, and I mean maps
doesn't want new election coming up, so I mean this
(00:58):
would be a catastrophe for Germany.
Speaker 1 (01:00):
I think that was Jenny Tier speaking there. As the
co leader of Marten's coalition partner, the SDP, hinted this
week that if the pension bill doesn't make it through
it could spell the end of the coalition.
Speaker 2 (01:14):
Now, European countries are looking to lower the length of
their boring as an overhaul of the Dutch pension system
reduces demand for longer maturity bonds. According to the European
Central Bank, the Netherlands makes up about sixty five percent
of pension funds sovereign bond holdings in the region. Our
EMEA lead for FX and rates coverage, David Goodman says
(01:37):
that the change in the Netherlands will be significant.
Speaker 4 (01:41):
I think it could have been kind of the biggest
story for the European bond market this year, despite everything
else that has happened. And essentially, the Dutch pension funds
are changing their regulations. They're moving from a defined benefit
system to a defined contribution system. We've seen similar moves elsewhere,
and essentially what that means is that these funds are
going to be probably chasing riskier assets.
Speaker 2 (02:02):
Bloomberg's David Gidman speaking them adapting shorter dated borrowing in
the uzone would follow similar moves in the UK and Japan.
Such a shift will likely lower interest payments. However, it
also leaves governments more exposed to yield rises as they
return to the market more frequently.
Speaker 1 (02:22):
Warner Brothers Discovery has entered exclusive negotiations to sell its
film and TV studios and its HBO Max streaming service
to Netflix. According to people familiar with the discussions, Netflix
is offering a five billion dollar breakup fee if regulators
don't approve the deal. A tie up between the world
(02:42):
dominant paid streaming service in one of Hollywood's oldest, in
most revered studios has the potential to bring a seismic
change to the entertainment industry. Sources that tell us that
if talks go well, a deal could be announced in
the coming days.
Speaker 2 (02:57):
Jane Street's record results this year have been boosted by
its savvy bets on the AI boom. The US quantitative
trading giant lifted its third quarter trading revenue by about
eight hundred and thirty million dollars, with the surge of
Anthropic reported to make up the vast majority of those gains.
With more on this story here is Bloomberg's at freddie.
Speaker 5 (03:17):
Fulston, Jane Street's investments in Anthropic are beginning to pay off.
The AI firm's valuation has more than tripled since the
beginning of the year, increasing to one hundred and eighty
three billion dollars as of its latest funding round. Jane
Streets also benefited from investments in the cloud computing company
(03:38):
core Weave, in which it holds roughly seven percent of
outstanding shares. It's put the firm amongst the top Wall
Street performers in terms of trading revenue, despite a recent
high profile dispute with India's regulator in London, freddie Fulston
Bloomberg Radio.
Speaker 1 (03:57):
The Booker Prize winning author o Salmon Rushchi has worn
that the banning of books and parts of the US
is contributing it to unexpected amounts of pressure on free
expression around the world. Speaking on the latest episode of
Bloomberg's The Michelle Hussein So, the novelist said it's more
important than ever to protect views we disagree with. Commenting
(04:17):
on the book Bands, he says that he could never
have imagined the present culture of censorship in the US.
Speaker 6 (04:23):
It's more important than just the fact that this or
that title that you happen to be fond of is banned.
It's a question of what would happen to a generation
of children if they grow up ignorant of the history
of the country. That's dangerous, dangerous, dangerous because it is
a very plural society, a very diverse society, and if
(04:44):
all you hear is one version, which is the version
of the dominant race, then that's potentially very destabilizing.
Speaker 1 (04:52):
Salmon Rashchie went on to cite figures from the advocacy
group pen America that there are currently around twenty three
thousand active books bands in the US. The US Department
of Education has dismissed criticism of book bands as false narratives,
defending what it sees as a quote common sense procedures
by which to evaluate and remove age inappropriate material.
Speaker 2 (05:14):
So those are our top stories for you this morning.
Looking at the markets this hour, your pinstocks are up
by tenth of one percent overall, fifty one hundred shares
also in the green, with the Zetradacs up by three
tenths of one percent. A Cardo shares are up by
ten point seven percent. They've had a significant payment from
Kroger three hundred and fifty million dollars. Trust pilers also
rallied more than nine percent. Morgan Stanley upgrading them booms
(05:37):
little changed ahead of the German vote on pensions. Looking
at that two seventy seven and for ten year benchmark
yields up well just about a basis point. Ten uere
us sealds at four point one percent. Ahead of the
PCE figures and other data out day one thirty pm
London time, the dollars down almost two tenths of one percent.
So those are the important market moves right now.
Speaker 1 (06:00):
That's news when you want it with Bloomberg News Now.
I'm Valerie Title, I'm Caroline Hepker.
Speaker 2 (06:05):
This is Bloomberg
News when you want it with Bloomberg News Now. I'm
Valerie Titel.
Speaker 2 (00:04):
And i am Caroline Hepke.
Speaker 1 (00:06):
Germany's ruling coalition it faces a key vote today that
could threaten the country's political stability. A group of around
eighteen lawmakers from Chancellor Friedrich MURTCDU party has rebelled against
the government's pension bill, which is due to go to
a final ballot in the coming hours. Although it's unclear
how many lawmakers will reject the law, with the majority
(00:27):
of just twelve, the German leader has little margin for error.
Here's our Germany Deputy bureau chief at Jenny Tier.
Speaker 3 (00:35):
If the bill doesn't pass, of course, this would mean
like you made a disruption, like a huge, massive crisis
for the German government. I mean, if you take a
look at the polls, the far right party Alternative for
Germany is had in some polls, and I mean maps
doesn't want new election coming up, so I mean this
(00:58):
would be a catastrophe for Germany.
Speaker 1 (01:00):
I think that was Jenny Tier speaking there. As the
co leader of Marten's coalition partner, the SDP, hinted this
week that if the pension bill doesn't make it through
it could spell the end of the coalition.
Speaker 2 (01:14):
Now, European countries are looking to lower the length of
their boring as an overhaul of the Dutch pension system
reduces demand for longer maturity bonds. According to the European
Central Bank, the Netherlands makes up about sixty five percent
of pension funds sovereign bond holdings in the region. Our
EMEA lead for FX and rates coverage, David Goodman says
(01:37):
that the change in the Netherlands will be significant.
Speaker 4 (01:41):
I think it could have been kind of the biggest
story for the European bond market this year, despite everything
else that has happened. And essentially, the Dutch pension funds
are changing their regulations. They're moving from a defined benefit
system to a defined contribution system. We've seen similar moves elsewhere,
and essentially what that means is that these funds are
going to be probably chasing riskier assets.
Speaker 2 (02:02):
Bloomberg's David Gidman speaking them adapting shorter dated borrowing in
the uzone would follow similar moves in the UK and Japan.
Such a shift will likely lower interest payments. However, it
also leaves governments more exposed to yield rises as they
return to the market more frequently.
Speaker 1 (02:22):
Warner Brothers Discovery has entered exclusive negotiations to sell its
film and TV studios and its HBO Max streaming service
to Netflix. According to people familiar with the discussions, Netflix
is offering a five billion dollar breakup fee if regulators
don't approve the deal. A tie up between the world
(02:42):
dominant paid streaming service in one of Hollywood's oldest, in
most revered studios has the potential to bring a seismic
change to the entertainment industry. Sources that tell us that
if talks go well, a deal could be announced in
the coming days.
Speaker 2 (02:57):
Jane Street's record results this year have been boosted by
its savvy bets on the AI boom. The US quantitative
trading giant lifted its third quarter trading revenue by about
eight hundred and thirty million dollars, with the surge of
Anthropic reported to make up the vast majority of those gains.
With more on this story here is Bloomberg's at freddie.
Speaker 5 (03:17):
Fulston, Jane Street's investments in Anthropic are beginning to pay off.
The AI firm's valuation has more than tripled since the
beginning of the year, increasing to one hundred and eighty
three billion dollars as of its latest funding round. Jane
Streets also benefited from investments in the cloud computing company
(03:38):
core Weave, in which it holds roughly seven percent of
outstanding shares. It's put the firm amongst the top Wall
Street performers in terms of trading revenue, despite a recent
high profile dispute with India's regulator in London, freddie Fulston
Bloomberg Radio.
Speaker 1 (03:57):
The Booker Prize winning author o Salmon Rushchi has worn
that the banning of books and parts of the US
is contributing it to unexpected amounts of pressure on free
expression around the world. Speaking on the latest episode of
Bloomberg's The Michelle Hussein So, the novelist said it's more
important than ever to protect views we disagree with. Commenting
(04:17):
on the book Bands, he says that he could never
have imagined the present culture of censorship in the US.
Speaker 6 (04:23):
It's more important than just the fact that this or
that title that you happen to be fond of is banned.
It's a question of what would happen to a generation
of children if they grow up ignorant of the history
of the country. That's dangerous, dangerous, dangerous because it is
a very plural society, a very diverse society, and if
(04:44):
all you hear is one version, which is the version
of the dominant race, then that's potentially very destabilizing.
Speaker 1 (04:52):
Salmon Rashchie went on to cite figures from the advocacy
group pen America that there are currently around twenty three
thousand active books bands in the US. The US Department
of Education has dismissed criticism of book bands as false narratives,
defending what it sees as a quote common sense procedures
by which to evaluate and remove age inappropriate material.
Speaker 2 (05:14):
So those are our top stories for you this morning.
Looking at the markets this hour, your pinstocks are up
by tenth of one percent overall, fifty one hundred shares
also in the green, with the Zetradacs up by three
tenths of one percent. A Cardo shares are up by
ten point seven percent. They've had a significant payment from
Kroger three hundred and fifty million dollars. Trust pilers also
rallied more than nine percent. Morgan Stanley upgrading them booms
(05:37):
little changed ahead of the German vote on pensions. Looking
at that two seventy seven and for ten year benchmark
yields up well just about a basis point. Ten uere
us sealds at four point one percent. Ahead of the
PCE figures and other data out day one thirty pm
London time, the dollars down almost two tenths of one percent.
So those are the important market moves right now.
Speaker 1 (06:00):
That's news when you want it with Bloomberg News Now.
I'm Valerie Title, I'm Caroline Hepker.
Speaker 2 (06:05):
This is Bloomberg
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