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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
in Calagie. A federal judge in Los Angeles issued a
temporary order barring US immigration authorities from stopping people for
questioning without cause, the latest fallout from the Trump administration's
controversial crackdown on migrants in California and across the US.
The US barred agents in the Los Angeles area from
(00:22):
stopping and questioning individuals without reasonable suspicion that they're in
the US illegally. The order forbids the agents from basing
their suspicion on race, ethnicity, speaking Spanish, speaking English with
an accent, the type of work they do, or where
they are located. The White House did not immediately respond
to a request for comments. Craft Hines is preparing to
(00:42):
break itself up. Under the plan, the company could spin
off a large part of its grocery business into a
new entity. This would allow it to focus on faster
growing segments such as sauces. Craft Hines is still finalizing
details of the split, which could be announced in the
coming weeks. Shares of craft Hines closed up two and
a half percent Friday. The Wall Street Journal reported on
(01:03):
the plans earlier in the day, a down Friday, and
a weekly move lower for the US stock market. We
get more from Bloomberg's Charlie Pellett.
Speaker 2 (01:11):
For the week, the SMP five hundred index was down
three tenths of a percent, holding close to a record.
So far this year, the sm P five hundred is
up six point four percent, following a rally that drove
the SMP to its fifth record in nine trading days.
Equity bulls took a breather, stocks fell as President Trump
intensified his trade offensive. For the week, NESDAK was down
(01:35):
one tenth of one percent, while the Dow this week
was down one percent. In New York Charlie Pellett Bloomberg Radio.
Speaker 1 (01:42):
President Trump said it was hard to believe the devastation
as he visited Texas to see firsthand the damage from
extreme floods that killed at least one hundred twenty people
and left score still missing in the state's Hill Country region.
The president spoke after touring some of the hardest hit areas.
Speaker 3 (01:57):
All across the country. American's hearts isha, I had to
be here as president first lady who wanted to be here.
All the beautiful souls and We're filled with grief and devastation.
Speaker 1 (02:10):
The President then praised the response of FEMA.
Speaker 3 (02:13):
FEMA has deployed multiple emergency response units, and FEMA has
been really headed by some very good people. We have
some good people running FEM. It's about time, right we
get some good ones. They failed us in North Carolina,
but when we got in in January twentieth, they fixed
it up in no time.
Speaker 1 (02:29):
Trump's visit was aimed at reassuring residents that the federal
government was committing the resources needed for search and recovery
operations and to help rebuild communities ravaged by the floods.
Cars and tariff levels on agriculture have emerged as key
sticking points between the European Union and the USS. The
two sides worked toward a provisional trade agreement in the
coming days. The EU is seeking a tariff no higher
(02:53):
than ten percent on agricultural exports. An offset mechanism that
some carmakers had pushed US away to grand tariff for
relief two companies in return for investments in the US
is not under consideration for now, amid worries from the
EU would could shift production across the Atlantic. The blocks
negotiators are focusing talks on car tariffs instead, the US
(03:14):
is working toward an interim trade deal with India that
may reduce its proposed tariffs to below twenty percent, putting
the South Asian nation in a favorable position against its
peers in the region. India does not expect to receive
a tariff demand letter unlike many others, this week, and
anticipates the trade arrangement will be announced through a statement.
The interim deal would allow for continued talks, giving New
(03:36):
Delhi space to resolve outstanding issues ahead of a broader
agreement expected this fall. Peter Navarro, White House Senior Council
for Trade and Manufacturing, talked with Joe Matthew and Keyley
Lines on balance of power and call the trade deficit
a national emergency.
Speaker 4 (03:51):
But the problem, Kiley, that this country faces, and it
is an urgent national emergency, is we run this massive
trade difference, said every year. Ancumulately has been eighteen trillion
dollars of deficits over the last several decades, and that
represents the transfer of for wealth abroad. It represents transferver
factories and our jobs.
Speaker 1 (04:11):
Whitehouse, Senior Council for Trade and Manufacturing Peter Navarro. A
preliminary report found the Air India Gentliner that crashed June twelfth,
almost immediately after taking off, plummeted back to the ground
after fuel supply was cut off to both engines, and
the pilots failed to bring back power in time to
avert the catastrophe. The report, issued a month after the
accident that killed all but one of the two hundred
(04:32):
and forty two occupants of the Boeing seven eighty seven Dreamliner,
laid out the faithful final seconds before the plane crashed.
According to a chronology laid out in the report, the
fuel switches off both engines were moved to the cutoff
position almost immediately after takeoff. It's unclear what prompted that maneuver.
According to the report, one unidentified pilot asked the other
(04:52):
why he had cut off the fuel, which he denied.
As for a transcript of the cockpit voice recording, The
Friday number is on Wall Street DAL LOST two seventy nine,
NASDAQ felve forty five. The S and P drop twenty.
The ten year treasurer yield is at four point four
one percent, the two year at three point eight nine percent.
That's news when you want it, with Bloomberg News. Now
I'm in Kalleggi. This is Bloomberg
News when you want it with Bloomberg News Now, I'm
in Calagie. A federal judge in Los Angeles issued a
temporary order barring US immigration authorities from stopping people for
questioning without cause, the latest fallout from the Trump administration's
controversial crackdown on migrants in California and across the US.
The US barred agents in the Los Angeles area from
(00:22):
stopping and questioning individuals without reasonable suspicion that they're in
the US illegally. The order forbids the agents from basing
their suspicion on race, ethnicity, speaking Spanish, speaking English with
an accent, the type of work they do, or where
they are located. The White House did not immediately respond
to a request for comments. Craft Hines is preparing to
(00:42):
break itself up. Under the plan, the company could spin
off a large part of its grocery business into a
new entity. This would allow it to focus on faster
growing segments such as sauces. Craft Hines is still finalizing
details of the split, which could be announced in the
coming weeks. Shares of craft Hines closed up two and
a half percent Friday. The Wall Street Journal reported on
(01:03):
the plans earlier in the day, a down Friday, and
a weekly move lower for the US stock market. We
get more from Bloomberg's Charlie Pellett.
Speaker 2 (01:11):
For the week, the SMP five hundred index was down
three tenths of a percent, holding close to a record.
So far this year, the sm P five hundred is
up six point four percent, following a rally that drove
the SMP to its fifth record in nine trading days.
Equity bulls took a breather, stocks fell as President Trump
intensified his trade offensive. For the week, NESDAK was down
(01:35):
one tenth of one percent, while the Dow this week
was down one percent. In New York Charlie Pellett Bloomberg Radio.
Speaker 1 (01:42):
President Trump said it was hard to believe the devastation
as he visited Texas to see firsthand the damage from
extreme floods that killed at least one hundred twenty people
and left score still missing in the state's Hill Country region.
The president spoke after touring some of the hardest hit areas.
Speaker 3 (01:57):
All across the country. American's hearts isha, I had to
be here as president first lady who wanted to be here.
All the beautiful souls and We're filled with grief and devastation.
Speaker 1 (02:10):
The President then praised the response of FEMA.
Speaker 3 (02:13):
FEMA has deployed multiple emergency response units, and FEMA has
been really headed by some very good people. We have
some good people running FEM. It's about time, right we
get some good ones. They failed us in North Carolina,
but when we got in in January twentieth, they fixed
it up in no time.
Speaker 1 (02:29):
Trump's visit was aimed at reassuring residents that the federal
government was committing the resources needed for search and recovery
operations and to help rebuild communities ravaged by the floods.
Cars and tariff levels on agriculture have emerged as key
sticking points between the European Union and the USS. The
two sides worked toward a provisional trade agreement in the
coming days. The EU is seeking a tariff no higher
(02:53):
than ten percent on agricultural exports. An offset mechanism that
some carmakers had pushed US away to grand tariff for
relief two companies in return for investments in the US
is not under consideration for now, amid worries from the
EU would could shift production across the Atlantic. The blocks
negotiators are focusing talks on car tariffs instead, the US
(03:14):
is working toward an interim trade deal with India that
may reduce its proposed tariffs to below twenty percent, putting
the South Asian nation in a favorable position against its
peers in the region. India does not expect to receive
a tariff demand letter unlike many others, this week, and
anticipates the trade arrangement will be announced through a statement.
The interim deal would allow for continued talks, giving New
(03:36):
Delhi space to resolve outstanding issues ahead of a broader
agreement expected this fall. Peter Navarro, White House Senior Council
for Trade and Manufacturing, talked with Joe Matthew and Keyley
Lines on balance of power and call the trade deficit
a national emergency.
Speaker 4 (03:51):
But the problem, Kiley, that this country faces, and it
is an urgent national emergency, is we run this massive
trade difference, said every year. Ancumulately has been eighteen trillion
dollars of deficits over the last several decades, and that
represents the transfer of for wealth abroad. It represents transferver
factories and our jobs.
Speaker 1 (04:11):
Whitehouse, Senior Council for Trade and Manufacturing Peter Navarro. A
preliminary report found the Air India Gentliner that crashed June twelfth,
almost immediately after taking off, plummeted back to the ground
after fuel supply was cut off to both engines, and
the pilots failed to bring back power in time to
avert the catastrophe. The report, issued a month after the
accident that killed all but one of the two hundred
(04:32):
and forty two occupants of the Boeing seven eighty seven Dreamliner,
laid out the faithful final seconds before the plane crashed.
According to a chronology laid out in the report, the
fuel switches off both engines were moved to the cutoff
position almost immediately after takeoff. It's unclear what prompted that maneuver.
According to the report, one unidentified pilot asked the other
(04:52):
why he had cut off the fuel, which he denied.
As for a transcript of the cockpit voice recording, The
Friday number is on Wall Street DAL LOST two seventy nine,
NASDAQ felve forty five. The S and P drop twenty.
The ten year treasurer yield is at four point four
one percent, the two year at three point eight nine percent.
That's news when you want it, with Bloomberg News. Now
I'm in Kalleggi. This is Bloomberg
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