July 12, 2025 • 5 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, i'd
Kaleggi and another side of the ongoing popularity of mean coins.
A platform that lets people create their own highly speculative tokens,
raised six hundred million dollars within twelve minutes Saturday. Pump
dot fund so called initial coin offering, ranks among the
largest ever and comes a day after the largest cryptocurrency
(00:23):
and market Bellweather Bitcoin hit a fresh record high. The platform,
which is based on the Salona blockchain, set in a
July ninth post on x that it planned to sell
one hundred and fifty billion of its tokens at point
zero zero four cents each and that it had already
sold a block of one hundred and eighty billion tokens
at the same price to private investors. President Trump unleashed
(00:46):
his latest terrafultimatums, declaring a thirty percent rate for Mexico
in the European Union as his trade agenda continues to
keep ballies off balance and inject uncertainty into global financial markets.
Trump made the announcement in two letters posted to so
social media Saturday, as he informed key trading partners of
new rates that will kick in August first if they
cannot negotiate better terms. The EU had been hoping to
(01:08):
conclude a tentative deal with the US to stave off
higher tariffs, but Trump's letter punctured the recent optimism in
Brussels over the prospects for an eleventh hour agreement between
the major economies. Here's Bloomberg's Kevin Whitelaw on what President
Trump did on Saturday.
Speaker 2 (01:23):
President Donald Trump is continuing his rollout of tariff threats
to a number of countries, this time hitting the European
Union in Mexico with thirty percent terriffs starting August first,
or at least so he's threatening, he's also allowing a
certain amount of negotiating room and suggesting that if the
trading block in the America's neighbor to the south meets
certain terms, that there may well be an adjustment. So
(01:45):
I think these letters come at this point in time
for the europe in particular, which had been they thought
pretty far advanced to negotiations aimed at avoiding these terriff fikes.
But with the August one deadline, there still remains a
little bit of negotiating room ahead.
Speaker 1 (01:58):
Bloomberg's Kevin whitelaw. Amazon's Prime Day sale help boost online
spending across all retailers in the US by thirty point
three percent to twenty four point one billion dollars. This
according to Adobe, topping its estimate for twenty eight point
four percent growth for the period ending July eleventh. It's
a good sign for the online retailer, as well as
competitors such as Walmart and Target, which hosted their own
(02:20):
overlapping sales. Amazon expanded Prime Day from two days to
four this year in an effort to give shoppers more
time to browse than millions of discounts offered on its
web store. You know how President Trump keeps threatening to
fire fed cheer J Powell. Well, One strategist says investors
could be sorry if the President gets his wish. We
get more from Bloomberg's than Ease.
Speaker 3 (02:40):
Pellegrini, a Deutsche Bank strategist, calls the potential dismissal of
Powell a major and underpriced risk. George Saravelos, global head
of DB's foreign exchange strategy, says if President Trump were
to force Powell out, we would probably see a drop
in the tradewaighted dollar and a fixed income sell off,
with the greenback and bonds carrying a persistent risk premium.
(03:02):
He also says investors would likely interpret the move as
a direct affront to FED independence, and he says the
consequences could reverberate far beyond US borders. Denise Pellgrity Bloomberg Radio.
Speaker 1 (03:14):
The Washington Post reports Attorney General Pam Bondi this week
fired multiple Justice Department employees who were involved in two
federal prosecutions a President Trump during the Biden administration. This
according to several people familiar with determinations who spoke of
the condition of anonymity to avoid retribution. In total, twenty
people were fired from the department, including two prosecutors who
worked under former Special Council Jack Smith. This according to
(03:37):
one person familiar with the removals. The rest of the
dismissed employees were support staff and US marshals who assisted
those prosecutors. Columbia University may be nearing a deal with
the Trump administration to reinstate federal funding to the university
over civil rights issues. This according to reports by multiple
news outlets. The Washington Free Beacon and Wall Street Journal
(03:57):
reported the deal would require Columbia to pay huntreds of
millions of dollars to those affected by the alleged violations,
increased transparency in its hiring and admissions processes, and take
other steps to improve security and safety on campus for
Jewish students. Ge Vernova will pay ten and a half
million dollars to the town of Nantucket, Massachusetts, after one
(04:17):
of its offshore wind turbine blades broke into pieces and
washed ashore last year. More on this from Bloomberg's Charlie Pellett.
Speaker 4 (04:25):
The incident's sparked outrage in the wealthy island community, where
residents criticize the temporary beach closure and damage to its
otherwise pristine coast. The busted blade served as a visual
setback for an industry already grappling with high interest rates,
supply chain problems, and mounting hostility from the Trump administration.
(04:46):
The money will be used to create a fund to
compensate local businesses for clean up costs, foregone rental income,
and other losses. In New York, Charlie Pellett's Bloomberg Radio.
Speaker 1 (04:57):
Add wimbled and IgA Shrivontek won the women championship with
a six love, six love straight set victory over Amanda
any Samova. That's news. When you wanted with Bloomberg News,
Now I made Koleggi.
Speaker 2 (05:09):
This is Bloomberg
News when you want it with Bloomberg News Now, i'd
Kaleggi and another side of the ongoing popularity of mean coins.
A platform that lets people create their own highly speculative tokens,
raised six hundred million dollars within twelve minutes Saturday. Pump
dot fund so called initial coin offering, ranks among the
largest ever and comes a day after the largest cryptocurrency
(00:23):
and market Bellweather Bitcoin hit a fresh record high. The platform,
which is based on the Salona blockchain, set in a
July ninth post on x that it planned to sell
one hundred and fifty billion of its tokens at point
zero zero four cents each and that it had already
sold a block of one hundred and eighty billion tokens
at the same price to private investors. President Trump unleashed
(00:46):
his latest terrafultimatums, declaring a thirty percent rate for Mexico
in the European Union as his trade agenda continues to
keep ballies off balance and inject uncertainty into global financial markets.
Trump made the announcement in two letters posted to so
social media Saturday, as he informed key trading partners of
new rates that will kick in August first if they
cannot negotiate better terms. The EU had been hoping to
(01:08):
conclude a tentative deal with the US to stave off
higher tariffs, but Trump's letter punctured the recent optimism in
Brussels over the prospects for an eleventh hour agreement between
the major economies. Here's Bloomberg's Kevin Whitelaw on what President
Trump did on Saturday.
Speaker 2 (01:23):
President Donald Trump is continuing his rollout of tariff threats
to a number of countries, this time hitting the European
Union in Mexico with thirty percent terriffs starting August first,
or at least so he's threatening, he's also allowing a
certain amount of negotiating room and suggesting that if the
trading block in the America's neighbor to the south meets
certain terms, that there may well be an adjustment. So
(01:45):
I think these letters come at this point in time
for the europe in particular, which had been they thought
pretty far advanced to negotiations aimed at avoiding these terriff fikes.
But with the August one deadline, there still remains a
little bit of negotiating room ahead.
Speaker 1 (01:58):
Bloomberg's Kevin whitelaw. Amazon's Prime Day sale help boost online
spending across all retailers in the US by thirty point
three percent to twenty four point one billion dollars. This
according to Adobe, topping its estimate for twenty eight point
four percent growth for the period ending July eleventh. It's
a good sign for the online retailer, as well as
competitors such as Walmart and Target, which hosted their own
(02:20):
overlapping sales. Amazon expanded Prime Day from two days to
four this year in an effort to give shoppers more
time to browse than millions of discounts offered on its
web store. You know how President Trump keeps threatening to
fire fed cheer J Powell. Well, One strategist says investors
could be sorry if the President gets his wish. We
get more from Bloomberg's than Ease.
Speaker 3 (02:40):
Pellegrini, a Deutsche Bank strategist, calls the potential dismissal of
Powell a major and underpriced risk. George Saravelos, global head
of DB's foreign exchange strategy, says if President Trump were
to force Powell out, we would probably see a drop
in the tradewaighted dollar and a fixed income sell off,
with the greenback and bonds carrying a persistent risk premium.
(03:02):
He also says investors would likely interpret the move as
a direct affront to FED independence, and he says the
consequences could reverberate far beyond US borders. Denise Pellgrity Bloomberg Radio.
Speaker 1 (03:14):
The Washington Post reports Attorney General Pam Bondi this week
fired multiple Justice Department employees who were involved in two
federal prosecutions a President Trump during the Biden administration. This
according to several people familiar with determinations who spoke of
the condition of anonymity to avoid retribution. In total, twenty
people were fired from the department, including two prosecutors who
worked under former Special Council Jack Smith. This according to
(03:37):
one person familiar with the removals. The rest of the
dismissed employees were support staff and US marshals who assisted
those prosecutors. Columbia University may be nearing a deal with
the Trump administration to reinstate federal funding to the university
over civil rights issues. This according to reports by multiple
news outlets. The Washington Free Beacon and Wall Street Journal
(03:57):
reported the deal would require Columbia to pay huntreds of
millions of dollars to those affected by the alleged violations,
increased transparency in its hiring and admissions processes, and take
other steps to improve security and safety on campus for
Jewish students. Ge Vernova will pay ten and a half
million dollars to the town of Nantucket, Massachusetts, after one
(04:17):
of its offshore wind turbine blades broke into pieces and
washed ashore last year. More on this from Bloomberg's Charlie Pellett.
Speaker 4 (04:25):
The incident's sparked outrage in the wealthy island community, where
residents criticize the temporary beach closure and damage to its
otherwise pristine coast. The busted blade served as a visual
setback for an industry already grappling with high interest rates,
supply chain problems, and mounting hostility from the Trump administration.
(04:46):
The money will be used to create a fund to
compensate local businesses for clean up costs, foregone rental income,
and other losses. In New York, Charlie Pellett's Bloomberg Radio.
Speaker 1 (04:57):
Add wimbled and IgA Shrivontek won the women championship with
a six love, six love straight set victory over Amanda
any Samova. That's news. When you wanted with Bloomberg News,
Now I made Koleggi.
Speaker 2 (05:09):
This is Bloomberg
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