US Calls Ukraine Talks Productive; Trump Teases Fed Chair Pick

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Good morning.
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Karen, we begin with the latest onn efforts to end
the war in Ukraine. US and Ukrainian negotiators say they
had productive discussions around a framework for a piece deal,
but there was no final breakthrough. The sides discussed potential
parameters for a ceasefire as they poured over a nineteen
point proposal that emerged in Geneva last week. Secretary of
State Marco Rubio spoke with reporters in Florida.
So this is not just about ending a war.
This is about ending a war in a way that
creates a mechanism and a way forward that will allow
them to be independent and sovereign, never have another war again,
and create tremendous prosperity for its people, not just rebuild
the country, but to enter an era of extraordinary economic progress.
It's a country with Ukraine has tremendous economic potential. Ukraine
has tremendous opportunity for true prosper That.
Was Secretary of State Marko Rubio.
Bloomberg Chief Europe correspondent Oliver Crook has more on the
push for peace in Ukraine.
The good news for the Ukrainians is that they are
now working with Marco Rubio, who is somebody who has
a more sort of principled and ideological worldview in terms
of the geopolitics, probably more sympathetic to the idea that
Russia poses an actual national security threat to the United States,
unlike a number of other officials within the US administration
quite so much. The bad news is, of course, that
they lost their chief negotiator on Friday. Andre Yurimagni, number
two of Zelenski has really stood shoulder to shoulder, one
of the great confidants to President Zelenski, all due to
this corruption scandal.
Bloomberg's Oliver Crook says the next steps will be decided
in follow up meetings, depending on the outcome of US
Special Envoice Steve Witcoff's talks in Moscow. The Task News
Agency in Russia says Witcoff will meet with Russian President
Vladimir Putin tomorrow.
Well Nathan, a software glitch that has threatened to disrupt
a big portion of the global aviation system as close
to being resolved Araba says the vast majority of its
eighth three twenty planes have received the necessary update to
their eLAC I computers. The plane maker says fewer than
one hundred planes still need to fix before they can
return to service. Bloomberg's been at a Camel reports this
recall could have been a lot worse.
There have been some disruption, but not on the scale
that we first feared when the statement came out on
Friday and we heard that about six thousand aircraft are
impact And you have to remember, this is the most
widely flown plane on the planet. Millions of people rely
on it every day. So if you hear that more
than half the active fleet of those planes is impacted,
we were wondering whether this would really cause sort of
global mayhem That has not happened.
Bloomer has been at a Camel reports most of the
planes simply needed to return to an earlier version of
that software that helps maintain their flight controls. Airbus says
only a small number of planes require more complex attention
and checking. Shares of Airbus they are down more than
three percent.
Now, Karen, let's get to the latest on the investigation
into the National Guard shooting in Washington, d C. Homeland
Security Secretary Christy Nomes says authorities believe the Afghan suspect,
twenty nine year old rock Manula Lockinwall, was radicalized in
this country.
We do believe it was through connections in his home
community and state, and we're going to continue to talk
to those who interacted with him, who were his family members,
talk to them. So far, we've had some participation.
Homeland Security Secretary Christi Nome appeared on NBC's Meet the
Press Heard Every Sunday on Bloomberg Radio. Lockinwall is facing
a first degree murder charge in the death of twenty
year old West Virginia Guard member Sarah Beckstrom. He was
granted asylum earlier this year after leaving Afghanistan in twenty
twenty one. Now President Trump is promising to pause all
asylum decisions for a long time.
We don't want those people, does that make sense?
You know why we don't want them because many have
been no good and they shouldn't be.
In our country.
President Trump spoke with reporters of Board Air Force One.
Secretary Nome is suggesting asylum decisions could resume once a
backlog of one and a half million pending cases is cleared.
Well, Nathan, President Trump's as He's decided on his pick
for the next Federal Reserve chair. The President spoke to
reporters on Air Force one.
Hechair right now, I know who I'm gonna pick. You
tell me Kevin hasn't I tell you?
And sources say Trump's chief economic advisor, Kevin Hassett as
seen as unlikely choice to succeed current Fed chair J.
Powell.
Well, let's turn back to the markets now, Karen. Futures
are lower as we begin a new trading weekend the
final trading month of twenty twenty five. The S and
P five hundreds coming off five straight days of gains
to close out in November. Andrew Slimming is senior portfolio
manager at Morgan Stanley Investment Management.
It is momentum and revisions, and the reality of the
market is that earnings i e. Revisions are very strong
right now because the economy, for all the talk, earnings
have come in better than what really Wall Street thought,
certainly since April, but even since the beginning.
Of the year, Morgan Stanley's Andrew slim In the MSCI
All Country World Index fell a tenth of one percent
in November after rising for seven straight months.
Well, Nathan, Bitcoin is starting a new month under pressure
once again. Right now, the cryptocurrency is trading at eighty
six thousand, eight hundred dollars. Bitcoin lost almost seventeen percent
of its value in November. Traders say a key support
level for bitcoin is eighty thousand dollars.
On the flip side, Karen Silver's trading at a record
this morning. Traders are speculator or placing speculative bets on
the white metal given ongoing supply tightness and rising expectations
for an interst rate cut from the FED. Silver's up
more than two percent this morning, and copper advanced to
a record high on the London Metal Exchange on fears
the global market is headed for a supply crunch, and.
Oil is trading higher. Nathan. It is up more than
two percent. It's at fifty nine dollars seventy five cents
a barrel. That's a n I meg screwed Brent is
at sixty three dollars fifty eight cents. I Keep pipeline
linking Kazakh fields to Russia's Black Sea coast was attacked
over the weekend. Meanwhile, opek Plus is sticking with plans
to pause production increases, I mean growing signs of a
surplus in global oil markets. The group agreed to keep
group wide quotas steady next year and approved a mechanism
for a review of individual oil production capacities. Oil is
down about seventeen percent so far this year. Time now
for a look at some of the other stories making
news in New York and around the world, and for
that were joined by Bloomberg's Monica Ricks Monica, good morning.
Hey, good morning, Karen.
President Trump is now defending Pete Hegseth against accusations made
by The Washington Post this weekend, which claimed the Defense
secretary ordered multiple strikes on suspected drug boats in the Caribbean,
including one that killed survivors.
Trump says hegset denied it.
We'll look into it, but no, I wouldn't have wanted
that a second strike.
The first strike was very lethal tois.
Fine, and if there were two people around, but Pete
said that didn't happen.
Does that make it?
I have got to lawmakers from both parties now say
they support congressional reviews of these strikes.
Republican Nebraska Congressman Don Bacon.
I don't think he would be foolish enough to make
this decision to say kill everybody, kill the survivors, because
that's a clear violation of the law of war.
Bacon on ABC News.
The Pentagon hasn't commented, but Hegseth did call the article inflammatory.
On X the.
Manhunt continues for the suspect in a mass shooting at
a children's party in Stockton, California. Four people were killed.
They're including kids as young as eight and nine years old.
Sheriff Patrick Wilthrow says they're treating this as a targeted incident.
I am confident in our team and with the work
that we have done so far that we will find
these animals that did this and bring them to justice.
But we still need the public's health help on this.
Fifteen others were hospitalized after the shooting. The FBI has
stepped in now to help find the shooter. The East
Coast is getting an early taste of winter today ahead
of a major snowstorm. Bloomberg Meteorologist Craig Allen is tracking
conditions for tomorrow.
The precip could start as some wet snow ora remikes
from DC on up to New York City and Boston,
but will likely change to rain based on the current
projected storm track. However, winter weather alerts are in effect
for the Upper Ohio Valley the mountains of the Northeast.
This includes the Pocono's Catskills, New York's Capital District, and
the Berkshires, and at least three to six inches of
snow expected more in heavier bands. You can expect driving
on I eighty eighty one, eighty four, eighty seven, ninety
and ninety one. It could become very challenging tomorrow.
Snow cause a travel mess in the Midwest this weekend.
Hundreds of flights were canceled or delayed. Global News twenty
four hours a day and whenever you want it with
Bloomberg News Now. I'm Monica Rix and this is Bloomberg
Karen Nathan.
Thanks Monica.
Time now for our Bloomberg Sports update, and for that
we bring in John stash Hour.
Thanks Karen Layne. Kiffin, DA official leaving ole Miss to
coach LSU. It'll be the third SEC school he's coached at.
Gets a seven year deal to make twelve million dollars
a year. He will not coach ole Miss in the
college football playoff. Ole Miss is already named Defense of
Gwender Pete Golding as Kiffin's replacement. Sur Right Football is
in Washington. The Broncos stopped the Commanders on a two
point conversion attempt in overtime to win twenty seven to
twenty six. It's their ninth win in a row the
Commander's seventh straight loss.
That's to Bloomberg Sports Update. Stay with us.
More from Bloomberg day Break coming up after this.
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Bloomberg Business Oup. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. Progress but no breakthrough. That
may be the takeaway from the latest round of peace
talks between US and Ukrainian negotiators over the weekend in Florida.
Secretary of State Marco Rubio led the discussions. He says
there is more work to be done.
We don't just want to end the war.
We also want to help Ukraine be safe forever, so
never again will they face another invasion. And equally importantly,
we want them to enter an age of true prosperity.
That was Secretary of State Rubio following the latest discussions
in Helendale Beach, Florida. Joining us this morning from Brussels
is Bloomberg's chief eure of correspondent, Oliver Crook. Oliver, good morning.
So where do things stand up after these latest talks
in Florida.
Well, after a week and a half we got that
twenty eight point plan sort of blasted out into sort
of the public view. The sort of discussions since then,
when it's been whittled down to a nineteen point plan,
has gone much more underground, much more behind closed doors.
So it's very difficult to assess at this stage how
close the Ukrainian, American and Russian sides are to bridging
some of these fairly large gaps between their conception of
how the end of this war would look. There, of
course the main issue of territorial concessions, which has been
sort of top of the list for everybody involved in
those negotiations, and then of course those security guarantees. How
do you prevent create an architecture to prevent the Russians
from ever reinvading Ukraine. Those are the two I think
main questions for the Ukrainian and the European side of
that equation, while for the Russians, you know, they have
a litany of sort of maximalists demands that they've been
sort of pushing forward. The question is on what side
of that the United States will fall Today we will
be focusing all week on the diplomacy that it's going on.
We have Vladimir Zelenski. He will be in Paris meeting
with Hi Menu in my colt later today. We understand
from Russian media that Whitkov will be meeting with President
Putin tomorrow afternoon in Moscow. And then, of course there
is this NATO meeting from Foreign ministers here in Brussels
on Wednesday, which we understand that Mark Rubio is actually skipping.
So what does that tell us about how close we
are to a deal? The fact that Putin himself is
expected to go to India a little bit later this
week may suggest that, you know, maybe we're not within
clutching distance of the deal. Would he really be doing
those sorts of trips abroad if he thought that there
was a deal really imminent? That is a I think
the question that we pose ourselves heading into this, remembering
that Trump wanted this done by last Thursday. Obviously the
complexity of this issue is putting itself on full display.
And of course here in Brussels right now, how is
Europe trying to insert itself into the discussions?
Well, so far failing as ever to really get a
seat at the table in terms of the discussions. You'll remember,
when that initial twenty eight point plan emerged from the woodwork,
there was all these ideas about what architecture for defense
looks like in Europe, about these sort of rules that
might be imposed on NATO that basically none of these
NATO European countries had been consulted on, despite the fact
that there were these conversations about the future not just
of the Ukrainian defense were being discussed, but actually of
European defense arches structure more broadly. So they've been trying
to assert themselves, they've been failing to do so. The
main way they might be able to assert themselves is
on this question of the frozen Russian assets one hundred
and forty billion euros worth of assets that are being
held that they're talking about creating reparations loans for the Ukrainians.
But of course, as you know, whenever there's a debate
in Europe, it means paralysis. And there are people on
both sides of this disagreement saying that we should hold
off on the Russian assets because there's a piece thought
going on that actually now is not the moment, and
others saying that it's actually time to accelerate work that message,
and that sort of means that nothing is getting done.
And once again the Europeans are found sitting at the
sideline awaiting with the sort of consensus from the United
States and from Donald Trump.
Just thirty seconds left here, Oliver. But the lead negotiator
for Ukraine, andre Yermak, has resigned in a corruption investigation
that script the country has that complicated things now to.
A large degree. I mean, your mac is a basically
de facto number two, or was in Ukraine. He stood
sort of shoulder to soldier to Vladimir Zlensky, a very
trust that Alli has throughout this entire war. We should
say he has not yet been charged with anything, but
his home and his office were searched in connection with
this corruption scandal dealing with some allocation of funds and
basically money being embezzled by the state. So of course,
this is a terrific blow for the Zelenski administration for
losing one of his key allies that he's had by
his side really since day one of his war.
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