March 21, 2025: Trump Revokes Clearances for Biden & Others, Foreman Dies, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
mid Kleggy. President Donald Trump revoked security clearances for former
President Joe Biden and some key members of his administration,
saying it is no longer in the national interest for
them to continue to have access to classified information. Those
losing access include former Vice President Kamala Harris, former Secretary

(00:24):
of State Anthony Blincoln, and former National Security Advisor Jacob Sullivan.
This according to a memorandum from the White House. Hillary
Clinton will also have hers revoked. George Foreman, the fearsome
heavyweight who lost the Rumble in the Jungle to Muhammad
Ali before his inspiring second act as a forty five
year old champion and a successful businessman, has died. He

(00:45):
was seventy six. Foreman's family announced his death on social medium.
A native Texan, Foreman began his boxing career as an
Olympic gold medalist who won the heavyweight belt by stopping
Joe Fraser in nineteen seventy three. He lost the title
a year later Toula. Foreman left the sport a few
years later, but returned after a ten year absence and
a self described religious awakening, and also became quite a

(01:08):
pitchman with the George Foreman grill leading the way. Some
flights began to land at London's he Throw Airport lead
Friday after a fire at a power station grounded planes
at Europe's busiest air hub, causing travel chaos for thousands
of people around the world. The electricity substation fire shut
down the airport for most of the day, leading to
the cancelation or diversion of hundreds of flights and raising

(01:31):
questions about the infrastructure's vulnerability. Restrictions on overnight flights have
also been temporarily lifted to help ease congestion. He Throw
Airport's chief executive, Thomas Woldby, says they expect to be
back at full operations Saturday, Yet frustration continues for passengers.
Mark Dugherty is a passenger who continues to wait.

Speaker 2 (01:52):
I just said, all you've got to do is get
a hotel, find somewhere the state's stay night airport and
then BA, we'll contact you the app.

Speaker 3 (02:01):
And that's what we've been waiting for, emails and apps.

Speaker 1 (02:04):
Mister whiteon the Trump administration will revoke temporary legal status
from more than half a million migrants who entered the
US legally under a Biden era program. This according to
a notice posted FRONTI in the Federal Register. The thirty
five page notice, said to be formally published March twenty fifth,
outlines the administration's plan to end humanitarian parole in accompanying

(02:25):
work permits for nationals of Cuba, Nicaragua, Haiti, and Venezuela
who were allowed to fly directly to the US after
applying from abroad. CBS News first reported the change. The
Department of Homeland Security says roughly five hundred thirty two
thousand people will lose their legal status beginning in late April.
Those without another legal basis to remain will be required

(02:46):
to leave for phase deportation. After four weeks of losses,
the S and P five hundred index had an up week.
We get the story from Bloomberg's Charlie Pellett.

Speaker 3 (02:56):
For the week, the S and P five hundred index
was up point five percent the day we now up
one point two percent, and Nezdak up by point two percent.
A rally and several big tech names spurred a rebound
in stocks after a sell off driven by disappointing outlooks
from economic bell weathers across various industries. Tesla, Led, Gaines

(03:16):
and Megacaps up five point three percent. Boeing was up
three point one percent on a contract to build the
US's next generation fighter jet in New York. Charlie Pellett
Bloomberg Radio.

Speaker 1 (03:28):
In Washington their speculation firings that an independent agency could
lay the groundwork for a White House showdown with the
Federal Reserve. Bloomberg's Minnie del Judai supports.

Speaker 2 (03:38):
Some on Wall Street say FED independence may be in
true jeopardy, challenging a Supreme Court ruling paving the way
for independent agencies. The White House fired two members of
the Federal Trade Commission this week. Questions are whirling whether
FED chair Jerome pal is next. There's no love loss
between President Trump and Powell, who Trump capped during his
first term. Trump has called for lower end trist rates,

(04:00):
challenging the fed's independence. Powell hasn't budged. Wall Street may
decide Finny Dyal Chuo Nice Bloomberg Radio.

Speaker 1 (04:07):
The Friday numbers on Wall Street, the Dow gain thirty two,
Nasdaq was up ninety two, The S and P gained four.
The ten year treasury yield at four point twenty four
percent the two year yield at three point nine to
five percent. Donald Trump dealt the movement a body blow,
but some of its wounds may have been self inflicted.
What went wrong for DEI? You can read all about
it in Bloomberg's weekend edition, exploring the places where finance,

(04:30):
life and culture meet. Find it now on bloomberg dot
com and the Bloomberg Business app. That's news when you
want it with Bloomberg News Now. I met Kaleggi. This
is Bloomberg