Trump-Putin Discuss Ukraine in Saudi Arabia; Toronto Plane Crash Latest

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.160 stories we're following today. 0:00:15.360 --> 0:00:18.240 Karen, we begin with talks now underway in Saudi Arabia 0:00:18.280 --> 0:00:21.000 between the US and Russia aimed at ending the war 0:00:21.120 --> 0:00:26.040 in Ukraine. Ukraine is not represented at this meeting. It's 0:00:26.079 --> 0:00:29.440 headed by Secretary of State Marco Rubio and Russian Foreign 0:00:29.520 --> 0:00:34.159 Minister Sergei Lavrov and Riod. Yesterday, Ukrainian President Vladimir Lensky 0:00:34.240 --> 0:00:38.560 reiterated he would not recognize any agreement reached without his country. 0:00:40.640 --> 0:00:44.680 Ukraine is not participating. Ukraine knew nothing about it. Ukraine 0:00:44.680 --> 0:00:48.800 regards any negotiations on Ukraine without Ukraine as negotiations with 0:00:48.880 --> 0:00:52.600 no result, and we cannot acknowledge anything any arrangements about 0:00:52.680 --> 0:00:54.200 US that were made without US. 0:00:54.320 --> 0:00:58.040 Ukrainian President Vladimir Lensky spoke through an interpreter after both 0:00:58.040 --> 0:01:00.640 the US and Russia clarified Ukraine would be involved in 0:01:00.680 --> 0:01:03.960 future negotiations, though as yet it's not clear what form 0:01:04.000 --> 0:01:04.600 that would take. 0:01:05.240 --> 0:01:08.520 Well, Nathan, Ukraine is not alone and not being invited 0:01:08.560 --> 0:01:11.720 to the meeting in Saudi Arabia. Europe is also not 0:01:11.920 --> 0:01:16.280 represented at the talks. Russia's Foreign Minister Sergei Lavrov says 0:01:16.600 --> 0:01:18.600 they didn't want them there. 0:01:19.280 --> 0:01:22.200 The European philosophy hasn't gone anywhere. If they're going to 0:01:22.240 --> 0:01:25.479 wheezl out some cunning ideas about freezing the conflict while 0:01:25.480 --> 0:01:29.280 actually intending, as is their custom, nature and habit, to 0:01:29.360 --> 0:01:31.880 continue the war, then why should we invite them at all? 0:01:32.360 --> 0:01:36.080 And Russia's Foreign Minister Sergei Lavrov speaking there through an interpreter. 0:01:36.319 --> 0:01:39.800 The meeting follows a landmark phone call between President Donald 0:01:39.840 --> 0:01:43.120 Trump and Russian President Vladimir Putin, which could pave the 0:01:43.160 --> 0:01:45.839 way for a summit between the two leaders as soon 0:01:45.880 --> 0:01:46.560 as next week. 0:01:46.680 --> 0:01:46.800 Well. 0:01:46.840 --> 0:01:49.840 Meanwhile, back in Washington, Karen, President Trump's push to reign 0:01:49.840 --> 0:01:53.120 in the federal government is leading to more high profile clashes. 0:01:53.520 --> 0:01:55.760 According to The Washington Post, the acting head of the 0:01:55.800 --> 0:01:59.840 Social Security Administration resigned over the weekend after a dispute 0:01:59.880 --> 0:02:03.360 with Elon Musk's government efficiency team over its attempts to 0:02:03.480 --> 0:02:08.120 access sensitive government records. Michelle King had served several decades 0:02:08.240 --> 0:02:12.320 at Social Security before she became acting commissioner last month. Now, 0:02:12.400 --> 0:02:15.680 President Trump has named an anti fraud manager Leland Dudik 0:02:15.840 --> 0:02:19.120 as the new acting commissioner. This puts Dudek ahead of 0:02:19.240 --> 0:02:22.000 dozens of senior executives who were higher up in the 0:02:22.040 --> 0:02:23.040 agency's ranks. 0:02:23.480 --> 0:02:26.639 Meanwhile, Nathan nearly two dozen US attorneys have found out 0:02:26.680 --> 0:02:30.200 they're added jobs after an email mix up. Bloomberg Law 0:02:30.280 --> 0:02:33.440 has learned the White House sent termination emails to the 0:02:33.480 --> 0:02:36.560 wrong addresses of as many as twenty two US attorneys 0:02:36.800 --> 0:02:41.080 in Philadelphia, Arizona, New Mexico, and other districts. The prosecutors 0:02:41.120 --> 0:02:43.320 had an idea their jobs were on the line when 0:02:43.320 --> 0:02:46.480 they lost access to their government issued devices last Friday. 0:02:46.880 --> 0:02:50.280 By last night, the Justice Department sent the notices where 0:02:50.320 --> 0:02:53.320 they should have gone to their personal emails. Sources to 0:02:53.320 --> 0:02:55.840 hel Bloomberg Law, the firings were originally sent to the 0:02:55.840 --> 0:02:59.799 prosecutor's internal dog email addresses, which should have bounce back 0:02:59.840 --> 0:03:01.120 to White House staffers. 0:03:01.280 --> 0:03:01.679 Man Karin. 0:03:01.720 --> 0:03:05.360 The Trump administration has begun firing several hundred Federal Aviation 0:03:05.520 --> 0:03:10.760 Administration employees probationary workers we're targeted. In a message posted 0:03:10.800 --> 0:03:14.360 to x late last night, Transportation Secretary Sean Duffy said 0:03:14.800 --> 0:03:19.000 zero air traffic controllers and critical safety personnel were let. 0:03:18.800 --> 0:03:22.200 Go well, Nathan. The firing comes amid another plane crash. 0:03:22.240 --> 0:03:25.440 A Delta Airlines plane flipped upside down upon landing in 0:03:25.480 --> 0:03:28.920 windy and freezing conditions in Toronto. All eighty people on 0:03:29.000 --> 0:03:33.000 board survived. Fifteen people were injured. Bruce Landsberg is a 0:03:33.120 --> 0:03:36.360 former vice chair of the National Transportation Safety Board. 0:03:36.800 --> 0:03:39.440 We will have a team going up there. The go 0:03:39.560 --> 0:03:43.120 team is just in the process of getting organized now, 0:03:43.200 --> 0:03:47.680 and they'll go up there and they will participate with 0:03:48.080 --> 0:03:53.520 TSB in going through the wreckage and gathering information, and 0:03:53.560 --> 0:03:57.400 then we'll provide our expertise and we'll share knowledge. 0:03:57.880 --> 0:04:02.080 Former NTSB vice chair Bruce Lansburg. The incident continues a 0:04:02.240 --> 0:04:05.040 bad start of the year for air safety in North America. 0:04:05.360 --> 0:04:08.240 Ten people died on board a commuter plane that crashed 0:04:08.240 --> 0:04:11.560 in Alaska. In late January, sixty seven people died after 0:04:11.600 --> 0:04:14.920 a regional jet in a military helicopter collided mid air 0:04:14.960 --> 0:04:18.600 near Ronald Reagan Washington National Airport, and days later, a 0:04:18.640 --> 0:04:22.320 Metavag plane crash soon after takeoff in Philadelphia. 0:04:22.440 --> 0:04:22.680 Karen. 0:04:22.720 --> 0:04:25.560 President Trump has announced to US operation in Syria that 0:04:25.640 --> 0:04:28.360 took out an Al Qaida leader. In a truth social post, 0:04:28.400 --> 0:04:31.760 the President says the precision airstrike took place over the weekend. 0:04:32.080 --> 0:04:34.520 The New York Post reports US Central Command released a 0:04:34.560 --> 0:04:37.400 statement saying the strike took place on Saturday and led 0:04:37.440 --> 0:04:40.000 to the death of a senior finance and logistics official 0:04:40.080 --> 0:04:42.640 from an ol Kaida affiliate known as Horas Aldeen. 0:04:43.360 --> 0:04:45.520 Well, we turn to the markets now, Nathan, and futures 0:04:45.520 --> 0:04:48.160 are hire as we kick off a holiday shortened trading week. 0:04:48.200 --> 0:04:49.920 The S and P five hundred is just a few 0:04:49.960 --> 0:04:53.240 points away from our record high. Cameron Dawson, the chief 0:04:53.279 --> 0:04:56.040 investment officer at New Edge Wealth, says the threat of 0:04:56.080 --> 0:04:57.440 a trade war is easing. 0:04:57.839 --> 0:05:00.400 Markets are trading with this release on the night idea 0:05:00.520 --> 0:05:04.159 of we have the boy who cried tariff effectively for 0:05:04.240 --> 0:05:07.280 all the talk and rhetoric of how big tariffs would be, 0:05:07.680 --> 0:05:10.560 you're seeing these things like the delay in the world 0:05:10.600 --> 0:05:14.960 out till April of the reciprocal tariffs, effectively providing a 0:05:15.000 --> 0:05:17.160 window for them to be negotiated. 0:05:17.680 --> 0:05:20.320 A New Edge wels. Cameron Dawson says earnings will be 0:05:20.440 --> 0:05:22.600 key for the markets going forward. 0:05:22.360 --> 0:05:25.640 And Karen Goldman Sacks remains bullish on gold. The firm 0:05:25.720 --> 0:05:28.640 is raising its year end target for bully into thirty 0:05:28.640 --> 0:05:31.599 one hundred dollars an ounce. Goldman says that's because of 0:05:31.720 --> 0:05:36.000 central bank buying and inflows into gold back exchange traded funds. 0:05:36.160 --> 0:05:39.039 Checking gold prices right now, comix Gold is up eight 0:05:39.040 --> 0:05:41.800 tens ever percent at twenty nine hundred and twenty four 0:05:41.839 --> 0:05:43.760 dollars eighty cents per ounce. 0:05:44.120 --> 0:05:47.000 And Nathan shares at BHP Billetin are down about six 0:05:47.080 --> 0:05:50.840 tenths of a percent. Overseas first half profit slump twenty 0:05:50.920 --> 0:05:54.200 three percent is China's faltering economy, damp and demand for 0:05:54.279 --> 0:05:57.200 iron ore. They caught up with CEO Mike Henry. 0:05:57.440 --> 0:06:02.240 There has been some overall economic challenges or headwinds in China, 0:06:02.279 --> 0:06:04.520 but the sectors of the economy that are important to 0:06:04.600 --> 0:06:08.520 BHP's commodity demand, for the most part, have been performing strongly. 0:06:09.600 --> 0:06:12.440 The exception, of course, is a property sector that has 0:06:12.480 --> 0:06:14.120 been under some pressure. But we're starting to see some 0:06:14.160 --> 0:06:18.000 green shoots there by way of increased news starts, property 0:06:18.000 --> 0:06:19.920 price rise in some sectors, so I think we'll see 0:06:19.960 --> 0:06:23.160 some some momentum building into twenty twenty six. 0:06:23.680 --> 0:06:27.280 Bhpco Mike Henry cut the interim dividend to an eight 0:06:27.360 --> 0:06:30.200 year low it's now fifty cents, is sheer down from 0:06:30.240 --> 0:06:35.960 seventy two cents the year before. And it's time now 0:06:36.000 --> 0:06:37.719 for a look at some of the other stories making 0:06:37.760 --> 0:06:40.080 news in New York and around the world. And for 0:06:40.120 --> 0:06:42.159 that we're joined by Bloomberg's John Tucker. 0:06:42.240 --> 0:06:43.960 John, Good Morning, Good morning, Karen. 0:06:44.080 --> 0:06:47.279 New York City Mayor Eric Adams is under increasing pressure 0:06:47.320 --> 0:06:51.080 to step down as a crisis enveloped city Hall. Let's 0:06:51.080 --> 0:06:53.960 get the very latest this morning from Bloomberg's genus Orvenni. 0:06:54.640 --> 0:06:58.000 Governor Kathy Hokel is meeting with key leaders today, raising 0:06:58.080 --> 0:07:01.880 quote serious questions about the future of Eric adams administration, 0:07:02.120 --> 0:07:05.279 citing her power to remove the mayor. The crisis surrounding 0:07:05.320 --> 0:07:09.520 Adams intensified after four top deputies said yesterday they were resigning, 0:07:09.800 --> 0:07:12.080 and the speaker of the City Council called for him 0:07:12.080 --> 0:07:15.560 to step down. The four deputy mayors who resigned overseeing 0:07:15.640 --> 0:07:18.720 much of the city's government. Hokl, a fellow Democrat, called 0:07:18.760 --> 0:07:21.760 allegations of a quid pro quo between the mayor and 0:07:21.800 --> 0:07:26.360 the Trump administration quote extremely concerning and serious. The mayor 0:07:26.440 --> 0:07:29.760 has remained defiant, saying he's not leaving office and is 0:07:29.800 --> 0:07:33.160 able to continue doing the job despite the chaos surrounding 0:07:33.200 --> 0:07:36.040 City Hall. Genus Cervetti Bloomberg Radio. 0:07:36.280 --> 0:07:39.480 Severe winter weathers slammed the Eastern Seaboard over the weekend, 0:07:39.600 --> 0:07:43.240 killing at least fifteen people across several states, including a 0:07:43.280 --> 0:07:46.280 dozen in Kentucky, where parts of the state remained severely 0:07:46.360 --> 0:07:49.760 flooded when some gusting over seventy miles per hour took 0:07:49.800 --> 0:07:52.920 down telephone polls in New Jersey and huge trees all 0:07:52.960 --> 0:07:55.760 over the Tri state region. Our Presidents Day, a number 0:07:55.800 --> 0:07:58.440 of protests held across the nation showing support for federal 0:07:58.440 --> 0:08:01.840 workers losing their jobs as part of the Trump administration's 0:08:01.880 --> 0:08:05.640 push for efficiency. Ralling in downtown Seattle was this Veterans 0:08:05.680 --> 0:08:06.520 Affairs worker. 0:08:06.960 --> 0:08:07.960 We're all terrified. 0:08:07.960 --> 0:08:10.680 These are people that have dedicated their entire careers to 0:08:10.720 --> 0:08:13.840 serving veterans, and our work is being ripped away from us. 0:08:13.880 --> 0:08:14.520 And it's scary. 0:08:14.600 --> 0:08:15.400 It's really scary. 0:08:15.640 --> 0:08:18.040 Nearly one thousand people marched in the snow from the 0:08:18.040 --> 0:08:21.480 State House in Boston to City Hall, chanting Elon Muss 0:08:21.680 --> 0:08:24.680 has to go global news twenty four hours a day, 0:08:24.680 --> 0:08:26.480 and whatever you want it to with. Have Bloomberg News. Now, 0:08:26.520 --> 0:08:29.120 I'm John Tucker and this is Bloomberg. 0:08:29.200 --> 0:08:29.520 Karen. 0:08:29.760 --> 0:08:36.559 All right, John Tucker, thank you time now for the 0:08:36.559 --> 0:08:39.920 Bloomberg Sports Update, brought to you by Try State Audi. 0:08:40.000 --> 0:08:41.920 Here's John stash Hour, John, good. 0:08:41.720 --> 0:08:42.840 Morning, Good morning, Karen. 0:08:42.920 --> 0:08:45.400 Let the hype in for the Thursday night hockey game 0:08:45.440 --> 0:08:48.960 in Boston. The US versus Canada Part two last Saturday 0:08:49.000 --> 0:08:51.959 in Montreal saw the US victory after those three fights 0:08:52.000 --> 0:08:54.800 in the first nine seconds. This time they'll play for 0:08:54.880 --> 0:08:57.920 the Four Nations Faceoff Championship. US played a tune up 0:08:57.920 --> 0:09:01.120 game in Boston, lost to Sweden to the no scoring 0:09:01.160 --> 0:09:03.720 after the first period of Canada earned the trip to 0:09:03.760 --> 0:09:06.280 the final by beating Finland five to three. Nathan McKinnon 0:09:06.280 --> 0:09:08.600 scored twice, then said, we can play better than the 0:09:08.600 --> 0:09:09.160 first game. 0:09:09.200 --> 0:09:11.480 We feel we can beat those guys. 0:09:11.520 --> 0:09:14.040 I mean a last John Carlos Stanton, he was the Yankees' 0:09:14.080 --> 0:09:16.680 best hitter in the postseason, had seven home runs with 0:09:16.720 --> 0:09:19.480 the ALCS MVP. On his first day at Yankee camp 0:09:19.520 --> 0:09:22.800 in Tampa, Stanton said he did all that despite pain 0:09:22.960 --> 0:09:25.800 in both elbows and it's still bothering him and he 0:09:25.840 --> 0:09:27.320 may not play at all in spring training. 0:09:27.360 --> 0:09:29.560 May miss the start of this season. At Mets camp. 0:09:29.600 --> 0:09:32.720 Starting pitcher Frankie Montas, who they signed as a free agent, 0:09:33.000 --> 0:09:35.080 has a lot strain. They'll be shut down six to 0:09:35.160 --> 0:09:37.640 eight weeks. Pete Alonzo also signed met the media in 0:09:37.679 --> 0:09:40.680 Port Saint Lucy to tough about his decision to remain 0:09:40.800 --> 0:09:41.719 a Met and. 0:09:41.679 --> 0:09:42.080 Here we are. 0:09:42.200 --> 0:09:45.480 We're back at it again. So it's the biggest thing 0:09:45.559 --> 0:09:48.440 that the takeaway is that, I mean, this is a 0:09:48.440 --> 0:09:51.240 really special place. And what makes this a special place 0:09:51.360 --> 0:09:54.240 is the people here. I mean, we got a great, 0:09:54.360 --> 0:09:58.319 great clubhouse. Obviously great talent, but I mean I've been 0:09:58.360 --> 0:10:02.120 here my entire career. This the so many relationships that 0:10:02.160 --> 0:10:03.880 I've fostered and created over the years. 0:10:03.920 --> 0:10:06.160 And Red Sox camp, the buzz is what position will 0:10:06.200 --> 0:10:08.360 Rapiel Devers play? Always been a third baseman, he has 0:10:08.440 --> 0:10:11.120 led al third basemen and errors seven straight years. 0:10:11.120 --> 0:10:12.200 They just signed Alex Bregman. 0:10:12.240 --> 0:10:13.800 Will they move him to second base or will they 0:10:13.880 --> 0:10:16.320 d h Devers or playim at first, he says he 0:10:16.440 --> 0:10:17.200 only wants. 0:10:17.000 --> 0:10:18.560 To play thirds. Big into positions. 0:10:18.559 --> 0:10:21.200 The Angels Mike Drout been as strictly a center field 0:10:21.280 --> 0:10:22.880 or He's moving to right in an effort to help 0:10:22.960 --> 0:10:25.199 him avoid injuries. Trout hardly played last season with the 0:10:25.240 --> 0:10:28.040 knee injuries, also had leg and back issues. Have missed 0:10:28.080 --> 0:10:31.600 almost four hundred games over the last four seasons. John Stanshewer, 0:10:31.640 --> 0:10:33.640 Bloomberg Sports, Karendiapen. 0:10:35.520 --> 0:10:39.720 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:10:39.840 --> 0:10:42.680 and around the world on Bloomberg dot Com and the 0:10:42.720 --> 0:10:45.800 Bloomberg Business app. This is Bloomberg Daybreak. 0:10:45.960 --> 0:10:46.440 Good morning. 0:10:46.520 --> 0:10:49.439 I'm Nathan Hager on a morning where talks are underway 0:10:49.480 --> 0:10:53.680 on ending the war in Ukraine without Ukraine. US officials, 0:10:53.720 --> 0:10:56.280 led by Secretary of State Marco Rubio, are now meeting 0:10:56.280 --> 0:10:59.600 with the Russian counterparts in Saudi Arabia I or Brusla 0:10:59.720 --> 0:11:03.240 with you. Ukrainian President Vladimir Lenski's office says his country 0:11:03.280 --> 0:11:04.920 should not be sidelined. 0:11:05.320 --> 0:11:08.280 It stands to reason to expect that the talks should 0:11:08.320 --> 0:11:12.400 be held first with the Ukraine to hear our position, 0:11:12.559 --> 0:11:14.720 to hear what we have to say, and then to 0:11:15.360 --> 0:11:18.200 so the main thing is to avoid these bad door channels. 0:11:18.240 --> 0:11:21.600 You know, this bad zealing. It doesn't help the situation. 0:11:21.920 --> 0:11:24.840 You're bursilla with The Ukrainian President's office spoke to Bloomberg 0:11:24.840 --> 0:11:27.400 ahead of these talks again now under way, and Riodd 0:11:27.400 --> 0:11:29.600 for more. We are joined by Bloomberg new senior editor 0:11:29.640 --> 0:11:34.000 Bill Ferries, and Bill looks as though the Ukrainian President's 0:11:34.040 --> 0:11:37.200 Office official is not getting what he wanted here. It 0:11:37.320 --> 0:11:39.920 is hard not to get the impression that Kiev is 0:11:40.200 --> 0:11:41.079 sidelined right now. 0:11:41.120 --> 0:11:44.200 Good morning, Hey, good morning, Nathan. I think that's right. 0:11:44.280 --> 0:11:46.480 I mean, things seem to be really moving at warp 0:11:46.559 --> 0:11:50.760 speed here when it comes to the US talks over 0:11:50.800 --> 0:11:53.280 the future of Ukraine. Of course, it was just last 0:11:53.320 --> 0:11:57.120 week that President Trump had that ninety minute phone call 0:11:57.280 --> 0:12:00.880 with Russian President Vladimir Putin. After that, you know, he 0:12:00.960 --> 0:12:05.240 announced that he would inform Ukrainian President Zelensky of the 0:12:05.280 --> 0:12:08.360 outcome of those talks the US. Now the US team 0:12:08.400 --> 0:12:12.880 there in Ryad having these meetings with the Russian officials 0:12:13.280 --> 0:12:16.520 without really much of a European presence and no Ukrainian 0:12:16.559 --> 0:12:20.400 presence there as well. The US side is pitching this 0:12:20.600 --> 0:12:25.240 as kind of a restart and communication that really hasn't 0:12:25.320 --> 0:12:29.720 taken place between the US and Russia since the war started. 0:12:30.840 --> 0:12:35.439 But it's clearly clearly there are things are the momentum 0:12:35.520 --> 0:12:39.960 is building without very much Ukrainian or European input. 0:12:40.040 --> 0:12:42.760 And we'd heard from a foreign policy aid at the 0:12:42.840 --> 0:12:46.400 Kremlin that they were hoping that there could be some 0:12:46.520 --> 0:12:51.240 discussion about economic issues as well in these talks. What 0:12:51.840 --> 0:12:56.520 is the Russian goal here in having these discussions with US. 0:12:56.320 --> 0:12:59.720 Officials, Well, their goal is to make as much progress 0:13:00.559 --> 0:13:05.240 in securing their gains I think in Ukraine and getting 0:13:06.240 --> 0:13:09.880 US sanctions eased at some level. You're right, the head 0:13:09.880 --> 0:13:13.800 of Russia's sovereign Wealth Fund, Carilli Dimitriev, is going to 0:13:14.080 --> 0:13:18.040 possibly be a part of those talks. You know, it 0:13:18.080 --> 0:13:21.400 would be the US said there would be tougher sanctions 0:13:21.440 --> 0:13:25.720 coming if Russia isn't ready to deal, but there already 0:13:25.760 --> 0:13:28.560 are very tough sanctions in place. It would be a 0:13:28.600 --> 0:13:31.200 different thing for the US to start easing some of 0:13:31.240 --> 0:13:35.800 those sanctions, giving a big boost to Russia's economy. But 0:13:36.200 --> 0:13:38.640 you know, we're in a very different world now than 0:13:38.679 --> 0:13:41.640 we were five or six weeks ago, and a lot 0:13:41.679 --> 0:13:44.720 of things that had become standard under the Biden administration 0:13:45.000 --> 0:13:46.400 are shifting very quickly. 0:13:46.559 --> 0:13:49.440 And we certainly got even more clues of that just 0:13:49.559 --> 0:13:52.880 late last week when Vice President JD. Vance appeared at 0:13:52.920 --> 0:13:56.760 the Munich Security Conference and told Europe that he felt 0:13:56.800 --> 0:13:59.440 like the biggest threat to the European Union was the 0:13:59.480 --> 0:14:03.840 threat from within this idea that free speech is being 0:14:04.520 --> 0:14:08.320 sidelined in some way. Where is Europe when it comes 0:14:08.360 --> 0:14:11.600 to all this, Can Europe play a role here in 0:14:12.320 --> 0:14:13.479 moving things forward. 0:14:13.240 --> 0:14:14.479 When it comes to Ukraine. 0:14:14.920 --> 0:14:17.560 Well, it's remarkable that we have we're asking that question 0:14:17.640 --> 0:14:20.400 because of course this battle ground, this war is taking 0:14:20.440 --> 0:14:25.240 place in Europe. But yeah, I think europe European leaders 0:14:25.280 --> 0:14:29.040 are still stunned by the US position outlined by Vice 0:14:29.080 --> 0:14:33.720 President Vance and also by Defense Secretary Pete Hegseth over 0:14:33.760 --> 0:14:36.680 the past week there in Munich. I think a lot 0:14:36.720 --> 0:14:40.000 of people had gathered at that speech by Vice President 0:14:40.120 --> 0:14:43.520 Vance expecting to hear more about the US position on 0:14:43.680 --> 0:14:47.640 Ukraine and where the war might be headed. Instead, they 0:14:47.720 --> 0:14:51.040 got much more of a talk focused on freedom expression 0:14:51.520 --> 0:14:55.280 and even the German election and things like that. So 0:14:55.320 --> 0:14:57.480 it was not what a lot of people had expected. 0:14:57.600 --> 0:15:02.000 You saw a lot of really angry European ministers and 0:15:02.080 --> 0:15:05.200 defense leaders, and they are moving as quickly as they 0:15:05.240 --> 0:15:07.640 can though, to see if there's something they can do 0:15:07.720 --> 0:15:09.360 to make sure they have a seat at the table, 0:15:09.600 --> 0:15:14.280 and they're also talking about boosting defense spending even more 0:15:14.280 --> 0:15:16.880 than they had been before all this started happening. 0:15:17.000 --> 0:15:19.320 In our Last Minute Bill, you talked about things moving 0:15:19.320 --> 0:15:22.040 at warp speed when it comes to US Russia relations. 0:15:22.080 --> 0:15:23.800 It seems like you could say the same thing when 0:15:23.840 --> 0:15:26.480 it comes to the government efficiency effort back in Washington. 0:15:27.400 --> 0:15:27.640 Yeah. 0:15:27.720 --> 0:15:30.800 I think every weekend and every day we're hearing more 0:15:30.840 --> 0:15:34.880 about the repercussions from the DOGE team's work and the 0:15:34.960 --> 0:15:38.760 effort to lay off, primarily at least in the beginning, 0:15:38.840 --> 0:15:44.160 some of these probationary workers. We're seeing reports now about 0:15:44.520 --> 0:15:49.040 firings at the FDI. See the head of the head 0:15:49.080 --> 0:15:52.320 of the food safety at the FDA has resigned, saying 0:15:52.360 --> 0:15:54.840 that kind of the broad job cuts we're going to 0:15:54.880 --> 0:15:57.600 make it hard to do his job. Top social security officials, 0:15:57.760 --> 0:16:01.200 a lot of government agencies now starting to count up 0:16:01.200 --> 0:16:05.080 the costs from layoffs that I expect would continue for 0:16:05.440 --> 0:16:06.480 the days and weeks ahead. 0:16:06.640 --> 0:16:10.040 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:10.080 --> 0:16:13.120 making news from Wall Street to Washington and beyond. 0:16:13.400 --> 0:16:15.800 Look for us on your podcast feed by six am 0:16:15.840 --> 0:16:19.240 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:19.440 --> 0:16:22.280 You can also listen live each morning starting at five 0:16:22.320 --> 0:16:25.040 am Wall Street Time on Bloomberg eleven three to zero 0:16:25.040 --> 0:16:27.960 in New York, Bloomberg ninety nine to one in Washington, 0:16:28.000 --> 0:16:31.960 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:32.160 --> 0:16:33.720 XM Channel one twenty one. 0:16:34.120 --> 0:16:36.840 Plus listen coast to coast on the Bloomberg Business app 0:16:36.880 --> 0:16:39.720 now with Apple CarPlay and Android Atto interfaces. 0:16:39.920 --> 0:16:42.920 And don't forget to subscribe to Bloomberg News Now. It's 0:16:42.960 --> 0:16:45.680 the latest news whenever you want it in five minutes 0:16:45.760 --> 0:16:48.920 or less. Search Bloomberg News Now on your favorite podcast 0:16:48.920 --> 0:16:53.080 platform to stay informed all day long. I'm Karen Moscow. 0:16:52.880 --> 0:16:53.880 And I'm Nathan Hager. 0:16:54.000 --> 0:16:56.080 Join us again tomorrow morning for all the news you 0:16:56.120 --> 0:16:58.640 need to start your day right here on Bloomberg Day 0:16:58.680 --> 0:16:58.880 Bray