September 30, 2025: Congress Misses Deadline to Prevent Government Shutdown, More

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Episode Transcript

Speaker 1 (00:01):
News when you wanted with Bloomberg News. Now, I'm Doug Prisner.
The US government is officially shut down after two proposals
for short term funding failed in the Senate on Tuesday evening.
The deadlock between President Trump and Democrats was on full
display after each party blocked the other's stopgap spending plans.
We heard from Senate Majority Leader John Thune after the voting.

Speaker 2 (00:24):
Democrats may have chosen to shut down the government tonight
so we can reopen it tomorrow. All it takes is
a handful of Democrats to join Republicans to pass the clean,
non partisan funding bill this in front of us, and
I hope, I really hope that some of them will
join us to reopen the government, resume bi partisan appropriation's work,

(00:47):
and get back to the business of the American people.

Speaker 1 (00:50):
Senate Majority Leader John Thune. Now, the White House is
directing federal agencies to execute their plans for an orderly shutdown,
and as it occurred, the Bureau of Labor Statistics will
cease operations. That means that Friday's employment report will be delayed. Separately, today,
President Trump said his administration is close to finalizing a

(01:11):
deal with Harvard Trump told reporters Harvard will be paying
about five hundred million dollars and the university will be
operating trade schools. The President made the announcement in the
Oval Office while signing executive orders.

Speaker 3 (01:25):
Well, we're in the process of getting very close and
Linda's finishing up the final details, and they'd be paying
about five hundred million dollars, and they'll be operating trade schools.
They're going to be teaching people how to do AI
and lots of other things.

Speaker 1 (01:40):
Harvard and the administration have been locked in a month's
long standoff over federal funding. The fight broadened to include
allegations of political bias, as well as scrutiny over Harvard's
ties to China and the university's opposition to diversity efforts.
The White House is withdrawing the nomination of E. J.
Antony to lead the Bureau of Labor Statistics. We are

(02:02):
told the Senate received paperwork formally withdrawing Anthony's nomination on Tuesday.
His nomination was an attempt by President Trump to gain
greater control over the BLS. This is the federal agency
responsible for producing key economic data that would include the
monthly Jobs Report and the Consumer Price Index, which is
used to measure inflation. We moved to Business News next

(02:25):
after the bell, Nike reported quarterly revenue above Wall Street's expectations.
Sales in the latest quarter were eleven point seven billion dollars,
that is seven hundred million dollars more than analyst had projected.
We got reaction from Punam Goyal, senior retail analyst with
Bloomberg Intelligence.

Speaker 4 (02:42):
They posted an increase. The expectations were for a mid
single digit decline, so that is definitely good news. And
what's even better is that the increase came largely due
to a stronger North America business, where sales were up
in constant currency by four percent. So really the this
just goes to show us that they're making the right steps.

(03:03):
They're taking the right steps to really move the brand forward.

Speaker 1 (03:07):
That is Punam Goyal from Bloomberg Intelligence now CEO Elliott
Hill has reset Nike by clearing out old inventory and
reorganizing the company's corporate structure, including replacing many top executives.
Shares and Nike were up three percent in late US trading.
A federal judge says the Trump administration unconstitutionally targeted non

(03:29):
citizens for deportation over pro Palestinian protest. More from Bloomberg's
Amy Morrison, Washington.

Speaker 5 (03:36):
A federal judge in Boston ruled a US policy that
targets international students for removal on audiological grounds is unconstitutional,
violating the First Amendment. The judge says the policy was
arbitrary and capricious, and accused Homeland Security Secretary Christy Nome
and Secretary of State Marco Rubio of misusing their powers.

(03:56):
US District Judge William Young also ruled the administration violated
the Administrative Procedure Act, so a hearing on that is
to be scheduled later in Washington. Amy Morris, Bloomberg Radio.

Speaker 1 (04:08):
And that is news when you want it with Bloomberg News. Now.
I'm Doug Prisner, and this is Bloomberg