Powerful Winter Storm Threatens East Coast; Russia Sees No Breakthrough After Ukraine Talks

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin with the impending major winter storm that
will affect a large part of the country. The East
Coast set to be particularly hard hit. Let's get the
very latest. Bloomberg Meteorologist Craig Allen is with us. Craig,
what's the update.
We are definitely going to get our share, Nathan, And
the first thing is that a cold weather advisories in effect.
You need the cold air that's coming in during the
day today. As for the snowfall that's next, we are
all under a winter storm watch from Washington on up
through Philadelphia to New York City and all the way
on up to Boston. What this means is that there's
the potential for six inches of snow or more. It
will start sometime late Saturday night and continue into Sunday.
For Washington. It will probably start around Sunday morning or
so around the New York City area and then take
until mid afternoon on Sunday to reach on up into Boston.
It's going to start hard and fast and stick immediately
because of all that cold air, and I suspect we'll
all start with a six inch snowfall. There could be
a top number of twelve to eighteen inches of snow
in any of these areas along the I ninety five corridor,
and the only thing that would keep those numbers down
is if there's a mix with sleep and freezing rain,
a little change over towards the end. I will have
more updates on this to follow as we go through
the morning. Karen and Nathan's back to you.
Well before we let you go, Craig, gotta know when
this is expected to end.
Oh, you know what, this is a long duration event.
So what we get during the day on Sunday, whether
it starts in the morning, the afternoon, or later in
the afternoon for U into New England, it is not
going to completely end until Monday, I would say, somewhere
close to lunchtime on Monday. So we're easily going to
see about a twenty four hour event of snowfall, possibly
as I said, mixing with some sleeve or freezing rain
towards the end of it to make it even that
much more icy. And then after that the cold stays
right through the week. That snow's not going anywhere.
All right, Craig Allen, thanks so much, and as you said,
we will be checking in with you throughout the morning.
The storm is already having an impact on the airlines.
They're making contingent plans for an expected weekend a messy
travel In Bloomberg's Tom Busby continues our team coverage.
US carriers are out with backup plans for passengers ahead
of wicked winter weather expected to impact one hundred and
twenty five million Americans from today through Monday and disrupt
air traffic from coast to coast. Delta offering to rebook
flights to and from forty one airports in the South
and southwest United waving change fees for flights at sixty
one airports. An American will do the same at airports
from New Mexico to Virginia. Even low cost carriers like Spirits,
SOUTHWAYT and Jet Blue will waive fees for travelers.
Tom Buzby, Bloomberg Radio. All right, Tom, thank you. As
we continue to track the weather.
We want to turn now to President Donald Trump and
his foreign policy plans, because we're learning more about his
framework for a future deal on Greenland sources tell Bloomberg
News at the US wants to rewrite its defense agreement
with Denmark to remove any limits on its military presence
on the island. The current arrangement was signed to nineteen
fifty one, amended in two thousand and four. It currently
calls for the US to consult with both Denmark and
Greenland before making any significant changes. The President says his
goal is permanent, total access to the island.
We can do it anything we want. We can do military,
we can do anything we want.
And it's being negotiated, and let's see what happens.
I think it'll be good.
The President Trump spoke aboard Air Force one on his
way back to Washington from Davos. Danish Prime Minister Meta
Frederickson says she's open to expanding the nineteen fifty one treaty.
I think everybody in NATO agrees about that, the Arctic states,
but also are the member states that we need a
permanent presence from NATO in the Arctic region, including around Greenland.
But Danish Prime Minister Meta Frederickson says the question of
Greenland's sovereignty is a red.
Line and now Nathan with President Trump making progress on Greenland.
He's openly amusing about sending NATO troops to this southern
border with Mexico. He posted the idea on social media,
saying maybe the US should invoke Article five, force NATO
to come to the US and free up border patrol
agents for other tasks. It's unclear whether the post was
just a job or laying the groundwork for a serious
policy statement. President Trump has long claimed NATO's Article five
mutual defense obligation is a one sided deal against the US.
Now, ker let's turn the latest on the war in Ukraine.
The Kremlin says the territorial issue remains unresolved after Russian
President Vladimir Putin held late night talks with US envoys
Steve Witkoff and Jared Kushner. This comes after Ukraine's President
Vladimir Zelenski used a speech at Davos to criticize Europe
for relying too much on American support.
Dr France, who should not degrade ourselves to secondary rules.
Not when we have a chance to be a great
power together. We should not accept that Europe is just
a salad of small and middle powers seasoned with enemies
of Europe. When united, we are truly invincible.
President Zelenski says top Ukrainian officials will attend plan talks
today with the US and Russia in the United Arab Emirates.
Well, nin President Trump says his new Board of Peace
is withdrawing Canada's invitation to join. It comes just days
after Prime Minister Mark Kearney usued a withering speech at
the World Economic Forum in Davos, warning against coercive tactics
by the world's great powers. Karney returned to Canada with
a similar message.
Now Canada can't solve all the world's problems, but we
can show that another way is possible, that the arc
of history isn't to be warped towards authoritarianism and exclusion.
It can still bend towards progress and justice.
And last week Canadian Prime Minister Mark Kearney accepted the
offer to be on the new Board of Peace.
Well, Markarney's not the only prominent figure. President Trump is
apparently at odds with Karen. He is now suing Jamie
Diamond and JP Morgan, Chase Bloomberg's John Tucker's in New
York with the latest done this John and Nathan.
Years have strained between Trump and Jamie Dimond have now
culminated in a five billion dollar lawsuit. This was President
Trump and Air Force One complaining JP Morgan Chase once
de banked is real estate company.
All of a.
Sudden, I was told no, you can't, you can't do
so wrong.
So I don't know.
I don't know what their excuse would be.
Maybe their excuse would be the regulators.
It is a real issue. This was Diamond last year
responding to a question about debanking.
The rules and the requirements are so onerous, and it
does course people be debanked, in my opinion, should not
be well.
Trump and Diamond have traded bars over the years, and
the relationship further strained in Dabos when Diamond pushed back
against some of Trump's comments. Investors unfazed by the suit,
shares closed up half a percent at after the lawsuit
was announced. The bank's board announced it paid Diamond forty
three million dollars last year. In New Yor income John
Tucker Bloomberg.
Radio, Right, John, thank you. When we turned to the
Nation's capital. Now and former Special Counsel Jack Smith testified
before the House Judiciary Committee, his first public testimony about
his investigations into President Trump's actions after the twenty twenty election.
Bloomberg's Amy Morris reports from Washington.
The committee is looking into what it calls politically motivated
prosecutions of President Trump, targeting the investigators who scrutinized the president,
but Smith insists he acted without regard to politics.
President Trump was charged because the evidence established that he
willfully broke the law. Rather than accept his defeat in
the twenty twenty election, President Trump engaged in a criminal
scheme to overturn the results prevent the lawful transfer of power.
Smith told the House Judiciary Committee that if the case
against Trump went to trial, he had trump allies as
witnesses who would testify that they told Trump he lost
the twenty twenty election. In Washington, Amy Morris Bloomberg Radio,
all right.
Amy, thank you. Turning to markets now.
After two straight days of gains, stocks are lower as
he closed out the holiday shortened trading week. Shares of
Intel are lower by more than ten percent. The chip
maker gave a lackluster forecast and warned its struggling with
manufacturing problems. Intel Ceolip Button told analysts the turnaround is
long term.
We are on the multi year journey it would take
time and resolve on my team and I a committa
to rebuilding this iconic American company and increasing the long
term value while with shareholders.
Intel CEO Lip Bhutan's first quarter projections for revenue and
earnings both fell well short of Wall Street estimates.
Nathan TikTok and is Chinese parent Bite Down to have
used a deal to create a new American entity. It
officially avoids the threat of a band in the US
that has been in discussion for years. The social video
platform company signed agreements with major investors, including Oracles, silver Lake,
and MGX to form the joint venture. The new entity
will be responsible for moderating content on TikTok and protecting
US users data.
Sticking with Asia, Karen, as expected, the Bank of Japan
has held rate steady. The BOJA issued higher inflation forecasts
that leave the scope for a hike to come earlier
than expected this summer.
Time.
Now for a look at some of the other stories
making news in New York and around the world, and
from that, we're joined by Bloomberg's Michael Barr.
Michael, good morning, Good Morning, Karen, New York City. Along
with the rest of the northeast are forecast to get
pummeled with more than a foot of snow this weekend.
It's a test for new mayor Zoron Mamdani as the
massive weather system threatens power, airline delays, and trans system problems.
While we cannot control how much snow will actually fall
this weekend, we can control how we prepare for and
respond to this storm.
If the forecast holds, it would be the biggest snow
storm to hit Manhattan since twenty twenty one. Minnesota has
been the center of immigration raids for weeks, and the
latest case has local advocates outraged. Attorneys and school officials
say a five year old coming home from preschool was
taken by federal agents along with his father. Vice President JD. Van,
speaking in Minneapolis, says the agents were protecting the child.
What are they supposed to do?
Are they supposed to let a five year old child
freeze to death? Are they not supposed to arrest an
illegal alien in the United States of America.
However, multiple people on the scene reportedly offered to take
the child in but were refused. Defense attorney Mark Prockatch
pushed back on Vance's remarks, accusing the boy's father of
being in the US illegally.
These are not ill legal aliens. They came properly, they
came legally and are pursuing illegal pathways, so that's just
not accurate.
The child and his father are being held together in
a processing center near San Antonio. Luigi Mangioni, accused of
gunning down the United Healthcare CEO in New York, is
due in federal court today. At issue is whether Mangioni's
backpack was searched in an unlawful manner when he was arrested.
Global News twenty four hours a day and whenever you
wanted with Bloomberg News Now Michael Barr and this is
Bloomberg Heart.
Thanks Michael.
A time now for our Bloomberg Sports updating. For that,
we bring in John Stashauer.
Thanks Karend coach of the Baltimore Ravens, replacing John Harbaugh.
Forty two year old Jesse Mintor, a former Ravens assistant
and then he worked for Jim Arbaugh, first at Michigan,
the last two years with the LA Chargers. Finalist name
for the NFL MVP. Christian McCaffrey, Matthew Stafford, Josh Allen,
Drake May and Trevor Lawrence Stafford is the favorite Washington
Nationals All Star pitcher Mackenzie Gore to the Texas Rangers
for five minor leaguers. That's a Bloomberg Sports update.
Stay with us. More from Bloomberg Daybreak coming up after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app.
This is Bloomberg Daybreak.
Good morning on Nathan Hagar.
Roughly half the country is getting ready for the kind
of winter storm many of us haven't seen in years.
Bitter cold and ice to the south, heavy snow for
much of the Eastern Seaboard on into the weekend. Bloomberg
meteorologist Rob Carolyn is tracking the storm and joins us now,
so give us the update.
Robert. We starting to see impacts from this storm already,
not yet, Nathan.
The storm is just now starting to put itself together
out over the Four Corners region in Arizona and New Mexico.
We're seeing some rain this morning. It's breaking out in
West Texas. It'll blossom as the day goes on over
Texas and Oklahoma, and that's where we'll start to see
problems later today, Dallas up into Oklahoma City with some snow,
sleet and freezing rain, and then it spreads quickly off
towards the east. We're going to see it moving into
the mid Atlantic States by late in the day tomorrow.
It's into the New York City area by early Sunday morning,
and then into Boston Sunday afternoon. The storm system itself
is actually going to move off the North Carolina coast
after moving through the south central part of the nation.
It'll then pass south of New England during the day
on Monday. As you mentioned, north of the track, we're
going to be looking at primarily snow and very cold
weather along the track, a mixture of snow, sleet and
freezing rain. South of the track, it's rain. Those folks
not seeing the snow over the upper Midwest, Great Lakes
and northern New England will get very cold weather through
the weekend. It's going to be a sizeable snowfall. Right now,
it looks like the district of Baltimore pick up eight
to twelve inches of snow. There will be some sleet
and freezing rain that mixes in a Sunday afternoon Sunday
evening that may hold the accumulations down there. Also, as
we look on up to the New York City area,
there may be some mixing, especially south of New York City,
but it still looks like an eight to fourteen inch
snowfall for the New York area.
New England, they could be the Jackpot area right now.
It looks like Boston's looking at ten to sixteen inches,
and there could be some places outside of Boston that
pick up a foot and a half of snow by
the time it's winding down Monday evening.
Yeah, it sounds like there's something for just about everybody
from this storm. With the kind of accumulations we're looking
at and the sort of freeze that we're expecting into
the rest of the week.
When can we start to dig out of this thing?
Rob Well, most areas will be able to dig out
during Monday, Nathan. It'll be a different story in New England.
They'll be digging out Monday night and Tuesday. There is
not going to be a lot of melting that takes
place next week. The air mess that's moving in behind
the storm is frigid. Daytime highs today in the Dakotas
and across northern Minnesota are going to be in the
teens below zero, and they're going to drop to twenty
five and thirty five below tonight, and that air just
settles in over the eastern United States. All next week
looks cold, and it looks like it stays cold into
the beginning of February as well.
This is Bloomberg Daybreak, your morning podcast on the stories
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I'm Karen Moscow.
And I'm Nathan Hager.
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Day.
Ray