Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: We begin with the passing of a man who defined
Speaker 3: foreign policy in the nineteen seventies and worked to shape
Speaker 3: it for decades. After Henry Kissinger has died, Bloomberg political
Speaker 3: contributor Rick Davis says Kissinger's influence was unmatched.
Speaker 4: It's quite a career that lasted my entire life. I
Speaker 4: would say that we've not seen much of the likes
Speaker 4: of him, somebody who has never been elected to office,
Speaker 4: but wielded as much power as any powerful president or
Speaker 4: prime minister in the world.
Speaker 3: Kissinger was credited with opening the door to China and
Speaker 3: achieving detente with the Soviet Union, but he courted controversy
Speaker 3: for supporting massive bombing campaigns in Vietnam and Cambodia. Bloomberg's
Speaker 3: Ian Marlow says Kissinger leaves a complicated legacy around.
Speaker 5: The world, in Asia in the Middle East. Could be
Speaker 5: a polarizing figure, but I think that was in part
Speaker 5: because he embodied that sort of American power. He was
Speaker 5: one of the people at the center of American power,
Speaker 5: and over a long period of time when the US
Speaker 5: role in the world was also changing, and it is
Speaker 5: to some extent and end of an era, and.
Speaker 1: That era continued right to the end. This past July.
Speaker 3: In fact, Henry Kissinger met with Chinese President Shi Jinping
Speaker 3: in Beijing to discuss US China relations. Henry Kissinger died
Speaker 3: yesterday at his home in Connecticut. He was one hundred
Speaker 3: years old, and.
Speaker 2: Nathan we turn out to breaking developments in the Middle East,
Speaker 2: Israel and Hamas have agreed to extend their truce for
Speaker 2: at least another day. The two sides announced the extension
Speaker 2: just minutes before their ceasefire was due to end. Head
Speaker 2: of the announcement, Secretary of State Anthony BLNCN explained what
Speaker 2: he hopes to achieve during his visit to the region.
Speaker 6: We'll discuss with.
Speaker 7: Israel how it can achieve its objective of ensuring that
Speaker 7: the terrorist attacks of October seventh never happen again, while
Speaker 7: sustaining an increasing amount of train assistance and minimizing further
Speaker 7: suffering and casualties among Palestine.
Speaker 2: Civilians and Secretary of State Blincoln is currently in Tel
Speaker 2: Aviv for his third visit since the attacks. He will
Speaker 2: also visit the West Bank, the visit comes as more
Speaker 2: captives were exchange yesterday evening, with ten hostages released by
Speaker 2: Hamas in exchange for thirty Palestinians held by Israel.
Speaker 3: And back here in the US, Karen House Speaker Mike
Speaker 3: Johnson says he has real reservations about expelling Congressman George Santos.
Speaker 3: We get that story from Bloomberg's At Baxter.
Speaker 8: The resolution says the vote needs to happen today, but
Speaker 8: Speaker Johnson says, for him, there are some real problems here.
Speaker 2: I personally have real reservations about doing this.
Speaker 9: I'm concerned about a president than may be set for that.
Speaker 9: So where everybody's working through that and we'll see how
Speaker 9: they vote.
Speaker 8: Sados will be the first expulsion without a conviction on charges.
Speaker 8: Johnson at one point yesterday said the vote would come Friday,
Speaker 8: but the resolution does say today, so we'll see how
Speaker 8: it works out. At Baxter Bloomberg Radio, All.
Speaker 2: Right, ed, Thanks well. Elon Musk is talking about the
Speaker 2: future of ex following and advertising boy and we get
Speaker 2: the latest from Bloomberg's John Tucker.
Speaker 10: John what the boycott is going to do mus says
Speaker 10: is kill the company, and who does he blame? Well,
Speaker 10: not himself, but the advertisers he herald in an expletive
Speaker 10: their way, saying they can go bleep themselves. Those advertisers
Speaker 10: include Walt Disney and Apple. Earlier this month, Musk agreed
Speaker 10: with a post that said Jewish people hold a dialectical
Speaker 10: hatred of white people. Well, that message has since drawn
Speaker 10: widespread criticism. On stage at the New York Times Deal
Speaker 10: Book conference, must did say the post was the worst
Speaker 10: and dumbest he's ever done. Mustourage people to judge him
Speaker 10: by his actions rather than his words. He brought up
Speaker 10: his electric car company, Tesla, saying he's done more for
Speaker 10: the environment than any human. I'm John Tucker, Bloomberg Radio.
Speaker 3: All right, John, thank you. Now, let's take a look
Speaker 3: at some stocks on the move this morning. Shares of
Speaker 3: Salesforce are up nearly nine percent. The San Francisco based
Speaker 3: software company gave a profit forecast for the current quarter.
Speaker 3: The top D analyst estamates Salesforce is benefiting from its
Speaker 3: cost cutting program.
Speaker 2: Meanwhile, Nathan Snowflake is up about eight and a half percent.
Speaker 2: The company gave a product sales outlook for the current
Speaker 2: quarter that beat expectations. That's fueling hope that revenue is
Speaker 2: stabilized after the software and maker experienced a dramatic slowdown
Speaker 2: in growth during the past year.
Speaker 3: Turning to the economy, differing views on inflation from two
Speaker 3: Federal Reserve Regional Bank presidents. Atlanta FED president Rafael Bostik
Speaker 3: says he's growing increasingly confident that inflation is firmly on
Speaker 3: a downward path. On the other hand, Richmond FED chief
Speaker 3: Thomas Barkins tell CNBC he's not yet convinced.
Speaker 11: There's no precision that anyone can point to at exactly
Speaker 11: what is the level of rates that exactly handles inflation
Speaker 11: and exactly the way you want to handle it, and
Speaker 11: so you're constantly trying to adjust on the flot.
Speaker 3: Both Thomas Barkin and Rafael Bostik will be voting members
Speaker 3: of the FOMC next year.
Speaker 12: Well.
Speaker 2: In corporate news, Nathan Online, a job search company, Indeed
Speaker 2: is canceling the monthly mental health days it introduced during
Speaker 2: the pandemic. Can we get this story from Bloomberg's Ellie Pellett.
Speaker 1: It joins a growing group of firms pairing back benefits
Speaker 1: they rushed to provide during the COVID nineteen crisis. Indeed
Speaker 1: initiated so called you Days in June of twenty twenty,
Speaker 1: giving all employees the same day off each month out
Speaker 1: of time when exhausted staff were taking fewer vacation days
Speaker 1: because of travel restrictions. Three years later, employees are once
Speaker 1: again booking time off at a similar rate to before
Speaker 1: the pandemic, so the company said quote. As a result,
Speaker 1: we have agreed that the global need for you days
Speaker 1: has passed. In New York, Charlie Pellett, Bloomberg Radio.
Speaker 3: And Charlie, we just got inflation data from the Eurozone.
Speaker 3: It cooled more than expected. Consumer prices rose two point
Speaker 3: four percent from a year ago in November. That was
Speaker 3: down from two point nine percent the previous month and
Speaker 3: less than all estimates of economists surveyed by Bloomberg.
Speaker 2: Sorry, Nathan, Thanks, It's time now for a look at
Speaker 2: some of the other stories making news around the world.
Speaker 2: For that, we're joal by Bloomberg's Amy Morris.
Speaker 13: Say good morning, Good morning, Karen Ultra. Conservatives in the
Speaker 13: House of Representatives have now softened their demands for deep
Speaker 13: spending cuts to domestic programs, heightening the odds that two
Speaker 13: parties can reach a spending agreement and avert of partial
Speaker 13: government shutdown in January. The shift came after the House
Speaker 13: failed to pass bills at the lower spending levels demanded
Speaker 13: by the House random Caucus. They've been pushing for one
Speaker 13: hundred twenty billion dollars in cuts. This softer stance gives
Speaker 13: House Speaker Johnson Moore a room to negotiate a bipartisan
Speaker 13: spending bill, as senators from both parties want to add
Speaker 13: fourteen billion dollars in spending by designating it an emergency
Speaker 13: not subject to that cap. As lawmakers consider an aid
Speaker 13: package to Israel, Senate majority leader Chuck Schumer is issuing
Speaker 13: a warning. Bloomberg's at Nancy Lyons has that part of
Speaker 13: the story.
Speaker 14: Senator Schumer, who is the highest ranking Jewish elected official
Speaker 14: in the country, spent forty five minutes on the Senate
Speaker 14: floor to crying the rise in anti Semitism at a
Speaker 14: level not seen in decades.
Speaker 15: The normalization and excusation of this rise and hate is
Speaker 15: the danger many Jewish people fear most.
Speaker 14: The Anti Defamation League says anti Semitic incidents of nearly
Speaker 14: quadrupled since the onset of the Israel Hamas War. Schumer
Speaker 14: says It's time for a clear throated denouncement of the
Speaker 14: hate in Washington, Nancy lyons Bloomberg Radio.
Speaker 13: And that new poll shows the number of college students
Speaker 13: experiencing or witnessing anti semitism is also up this academic year.
Speaker 13: That poll by the Jewish led Anti Defamation League and
Speaker 13: Hillel International found that nearly three in four Jewish students
Speaker 13: and forty four percent of non Jewish students saw or
Speaker 13: experienced anti Jewish ideas since the start of the twenty
Speaker 13: three to twenty four school year. A very special holiday display.
Speaker 13: Now at sixteen hundred Pennsylvania Avenue, the White House South
Speaker 13: Lawn has an ice skating rink to celebrate the holidays.
Speaker 13: First Lady Jill Biden unveiled the rink with skating performances
Speaker 13: from figure skaters and Peanuts characters.
Speaker 3: What's more magical and wonderful and joyful then, you know,
Speaker 3: being on an ice rink in.
Speaker 14: The South one of the White House.
Speaker 13: Who knew right A, Military, families, first responders, and other
Speaker 13: special invited guests can enjoy the White House skating rink
Speaker 13: in December. It will not be open to the public.
Speaker 13: Global News twenty four hours a day, and whenever you
Speaker 13: want it with Bloomberg News Now. I'm Amy Morrison. This
Speaker 13: is Bloomberg Karen right, Amy, Thank you well.
Speaker 2: We bring you news throughout the day right here on
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Speaker 2: Bloomberg dot Com plus apples, Spotify, and anywhere else you
Speaker 2: get your podcasts. Time now for the Bloomberg Sports Update.
Speaker 2: Here's John stash Hour John.
Speaker 15: Daron upset in college basketball. They stormed the court in
Speaker 15: Fayetteville after Arkansas and opt off seventh rank Duke eighty
Speaker 15: to seventy five North Carolina ranked seventeen, put up sixty
Speaker 15: one points in the first half in Chapel Hill and
Speaker 15: beat tenth thrank Tennessee one hundred and ninety two. So
Speaker 15: they split fourteen games in the acc SEC Challenge over
Speaker 15: the previous two nights. They both won seven times. A
Speaker 15: couple of bad teams at the NBA's Eastern Conference, the
Speaker 15: Pistons the Wizards. They played the other night. Washington won,
Speaker 15: but the Wizards lost in Orlando, won thirty nine to
Speaker 15: one twenty. The Magic thirteen and five on the year.
Speaker 15: The Wizards are three and fifteen. The Pistons are two
Speaker 15: and seventeen. They bought fifteen games in a row. Blown
Speaker 15: out at home, Lakers won one thirty three to one
Speaker 15: oh seventy. Angelo Russell scored thirty five. Seahawks and Cowboys
Speaker 15: ticking off Week thirteen tonight in Dallas. They both played
Speaker 15: last Thursday. Cowboys won easily and Seattle lost to the
Speaker 15: forty nine Ers. These two teams are in second place
Speaker 15: in the NFC East and West. The teams that are
Speaker 15: in first place in those divisions the Eagles and forty
Speaker 15: nine Ers, and they play Sunday. That's the big game
Speaker 15: of Week thirteen. It's a rematch of last year's in
Speaker 15: at Championship. Joe Flacco now with the Cleveland Browns. They
Speaker 15: brought him in when the Shawn Watson went down. He's
Speaker 15: gone from third string QB to second and Dorian Thompson
Speaker 15: Robinson is in concussion protocol, so Flaco may start Sunday
Speaker 15: against the Rams. Patriots not saying anything official as usual
Speaker 15: for them, but it sounds like mac Jones goes to
Speaker 15: the bench. Bailey ZAPPI expected to start on Sunday. John
Speaker 15: stashed were Bloomberg Sports.
Speaker 6: From coast to coast, from New York to San Francisco,
Speaker 6: Boston to Washington, DC, nationwide on Syrias exam the Bloomberg
Speaker 6: Business app in Bloomberg dot com.
Speaker 3: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We
Speaker 3: want to reflect more on the life and legacy of
Speaker 3: Henry Kissinger, who died yesterday at his home in Connecticut
Speaker 3: at the age of one hundred. Kissinger was born in
Speaker 3: nineteen twenty three in the German state of Bavaria. He
Speaker 3: moved to the US in nineteen thirty eight to escape
Speaker 3: Nazi persecution. The son of a Jewish school teacher. At
Speaker 3: age nineteen, while a student at the City College of
Speaker 3: New York, Kissinger was drafted into the army in the US,
Speaker 3: serving as an interpreter during World War II, and after
Speaker 3: the war he helped round up Gestapo officers as a
Speaker 3: member of the nine hundred and seventieth Counter Intelligence Corps.
Speaker 3: Kissinger spoke earlier this year with Bloomberg's editor in chief
Speaker 3: John Micklethwaite, and said he saw the first hand impact
Speaker 3: of authoritarianism and totalitarianism in his youth.
Speaker 16: It was an experience which it's so elemental then it
Speaker 16: becomes part of you.
Speaker 3: Kissinger brought that experience back with him to the United States.
Speaker 3: He resumed his studies at Harvard University. His doctoral dissertation
Speaker 3: there focused on balances of power in nineteenth century Europe.
Speaker 3: As a tenured professor at Harvard, Kissinger honed of the
Speaker 3: conservative real politic worldview that would dominate his thinking on
Speaker 3: foreign policy for more than a half century. Kissinger also
Speaker 3: cultivated relationships with policymakers in Washington that led him to
Speaker 3: the White House in nineteen sixty nine as National Security
Speaker 3: Advisor to President Richard Nixon. Kissinger's secret trips to China
Speaker 3: in nineteen seventy one paved the way for arguably the
Speaker 3: greatest foreign policy achievement of the Nixon presidency. His own
Speaker 3: visit the following year.
Speaker 12: Knowing of President Nixon's express desire to visit the People's
Speaker 12: Republic of China, Premier Cho and lie On behalf of
Speaker 12: the government of the People's Republic of China has extended
Speaker 12: an invitation to President Nixon to visit China.
Speaker 3: The opening of China and an anti ballistic missile treaty
Speaker 3: hammered out with the Soviet Union achieved what would become
Speaker 3: known as Kissinger's triangular diplomacy, but his penchate for secrecy
Speaker 3: would lead to controversy. Kissinger was the first person to
Speaker 3: serve as both National Security Advisor and Secretary of State
Speaker 3: at the same time. That allowed Nixon to run foreign
Speaker 3: policy more or less directly from the White House. The
Speaker 3: president summed up his attitude in a taped conversation with
Speaker 3: Kissinger about the Christmas Day bombing in Vietnam in nineteen
Speaker 3: seventy two. Kissinger fed into that paranoia about enemies and
Speaker 3: the press by ordering wiretaps of reporters and White House
Speaker 3: aids looking for leaks. That expanded use of surveillance led
Speaker 3: to Nixon's resignation under the weight of Watergate, but the
Speaker 3: weight of one major foreign policy decision would cloud Kissinger's
Speaker 3: legacy for the rest of his long life. The Secret
Speaker 3: War in Cambodia. Kissinger orchestrated the operation that dropped more
Speaker 3: than one hundred thousand tons of bombs on North Vietnamese
Speaker 3: positions in the country. It helped lead to the rise
Speaker 3: of a genocidal Khmer Rouge regime after the war, but
Speaker 3: Kissinger would never stop defending his conduct in Vietnam, even
Speaker 3: against critics who labeled him a war criminal.
Speaker 16: Would say a better way At any one point, we
Speaker 16: didn't think so. I still don't think so. But I'm
Speaker 16: open into that argument. But what is meant by better.
Speaker 3: That pragmatic approach to the world as it is rather
Speaker 3: than how policymakers might like it to be what informed
Speaker 3: Kissinger's view long after he left public office and sought
Speaker 3: to wield influence as a private citizen. At the age
Speaker 3: of eighty eight, Kissinger wrote the book on China, about
Speaker 3: the country he helped to bring back to the world stage.
Speaker 3: In a twenty twenty interview at the Bloomberg New Economy Forum,
Speaker 3: Kissinger warned of the risks of confrontation between the world's
Speaker 3: two biggest economies.
Speaker 16: Let's say, at some basis for some cooperative action to wills,
Speaker 16: Bill Slide hid a catastrophe. Comfortable do will do a one.
Speaker 3: And Henry Kissinger worked to head off that catastrophe. After
Speaker 3: reaching his hundredth birthday this year, when President Biden sent
Speaker 3: cabinet secretaries to Beijing to try to stabilize relations, the
Speaker 3: one US diplomat that Chinese President Shi Jinping met face
Speaker 3: to face this summer was the man who he called
Speaker 3: an old friend to China, former Secretary of State Henry Kissinger.
Speaker 3: And for more, we are joined from Singapore by Bloomberg
Speaker 3: News Managing editor Derek Wallbank. A mixed legacy, Derek, but
Speaker 3: an undeniable legacy at the same time.
Speaker 9: I think that's exactly right.
Speaker 6: An.
Speaker 9: I think you did a brilliant job setting this up
Speaker 9: and there when when we're talking about the reaction, especially
Speaker 9: out here, I think the the polarity of feedback has
Speaker 9: been striking today. You know, Kissinger was a sort of
Speaker 9: person that in some corners of the world was a
Speaker 9: lionized statesman, and some other corners in the world, uh,
Speaker 9: they considered him an absolute scoundrel. And and and there's
Speaker 9: not really a giant a mix of those right now,
Speaker 9: certainly through Asia hours and you're you're talking about somebody
Speaker 9: who in Singapore was was somebody that that foreign ministers
Speaker 9: would would make pilgrimage to his apartment in New York City.
Speaker 9: Every time that there was a UN General Assembly meeting China.
Speaker 9: You saw that you mentioned the reaction from Xi jianpingg
Speaker 9: He's Uh. Kissinger was described as an old friend of
Speaker 9: the Chinese people's there's a mournful reaction from from China
Speaker 9: at the same time.
Speaker 10: Uh.
Speaker 9: This is somebody who throughout parts of Southeast Asia, UH,
Speaker 9: particularly Cambodia, allows Vietnam, et cetera. You know, Indonesia, parts
Speaker 9: of team or less. It's like it is not held
Speaker 9: in anywhere the same sort of thing. It's a very
Speaker 9: polarizing person, but certainly somebody who had I think it
Speaker 9: is unanimous to say a titanic effect on the world
Speaker 9: in which he lived.
Speaker 3: No doubt, and to you put it into the context
Speaker 3: of where US China relations stand now. I think it'd
Speaker 3: gotten a little bit better since the low that we
Speaker 3: saw after the alleged spy balloon incident back in February.
Speaker 3: But talk a little bit more about the impact that
Speaker 3: Henry Kissinger tried to wield even up to the end,
Speaker 3: as President Biden was trying to put US China relations
Speaker 3: sort of back on the rails.
Speaker 9: I think one of the most notable things sitting here
Speaker 9: as as we closely have tracked the decline in relationships
Speaker 9: between the two superpowers, is how Henry Kissinger always seemed
Speaker 9: to be the one American who could get a meeting
Speaker 9: with anyone he wanted in China. I mean anybody he wanted.
Speaker 9: I saw in Chinese state media today retrospectives of here
Speaker 9: was Henry Kissinger visiting it this year, and then two
Speaker 9: years later, and then three years later, and etcetera, etcetera, etcetera.
Speaker 9: Gotten down the line, he met with anybody he wanted,
Speaker 9: He met any time he wanted, and senior, senior Chinese
Speaker 9: folks would would go to him, would would want to
Speaker 9: talk to him to get a sense of where the
Speaker 9: things were in the United States, and vice versa. You know,
Speaker 9: he was a counselor to presidents of his party or not,
Speaker 9: people who agreed with him or not. He was seen
Speaker 9: as this respected voice that when he was in the room,
Speaker 9: people felt like they needed to listen to on both
Speaker 9: sides of this relationship, because as they say, he was
Speaker 9: so respected in China, and in these days you find
Speaker 9: somebody who who is you know, who is American, who
Speaker 9: has deeptised in the American state, who who is that
Speaker 9: respected in China is It's a very very small list, right,
Speaker 9: and Henry Kissingtram might have been right at the.
Speaker 5: Top of that list.
Speaker 3: Well, we think about the passing of a former Secretary
Speaker 3: of State who saw the world as it is. We
Speaker 3: have a current Secretary of State, Anthony Blincoln, who is
Speaker 3: back in a part of the world that is as
Speaker 3: restive as anywhere else in the Middle East. Let's talk
Speaker 3: a little bit about the latest that's happening in the
Speaker 3: conflict between Israel and Hamas and the influence the Secretary
Speaker 3: of State Blincoln is trying to have as this tenuous
Speaker 3: ceasefire continues.
Speaker 9: Yeah, and the thing that I think everybody's waiting for
Speaker 9: is to see how long this ceasefire will go. It
Speaker 9: was supposed to expire at seven am local time Thursday.
Speaker 9: It got extended for another day. I mean the announcement
Speaker 9: here just minutes before that ceasefire was due to end.
Speaker 9: There had been reports of small violations here and there
Speaker 9: of things. We have seen a steady drip drip of
Speaker 9: hostage releases. But it's a very very tenuous. I don't
Speaker 9: even want to use the word piece. It's a very
Speaker 9: it's a very tenuous pause. Let's go with pause, because
Speaker 9: a pause implies that the play button is back. It
Speaker 9: is also on the table that the restart could be
Speaker 9: coming soon. So I think that's the question. How much
Speaker 9: progress are we getting here? You do see the United
Speaker 9: States trying to play in here. I think I think
Speaker 9: the Biden administration is politically finding itself in a in
Speaker 9: a in a tough spot. They are trying to have
Speaker 9: some guardrails that they're trying to communicate to the Israelis.
Speaker 9: At the same time, you know, the the US is
Speaker 9: permissioning I if I can use that word, they're they're
Speaker 9: certainly you know, they're they're they're certainly Israel's biggest friend
Speaker 9: on the world stage.
Speaker 6: Right.
Speaker 9: So so that's a little bit of a difficult position
Speaker 9: that the Biden administration is trying to tread a little
Speaker 9: bit carefully. But they are trying to influence, uh, what's
Speaker 9: what's going on in that in that part of the world,
Speaker 9: and they have a lot of place to play. At
Speaker 9: the same time, you see countries like Egypt, countries like
Speaker 9: Cats are trying to you know, trying to influence Maybe
Speaker 9: they might be more simply sympathetic to other sides than
Speaker 9: the US administration might be, but all sort of trying
Speaker 9: to find and feel a way out of this so
Speaker 9: that it doesn't conflagrate more. All the while, also, it
Speaker 9: should be said, trying to keep nation states that are
Speaker 9: currently mostly on the side on the side. And I'm
Speaker 9: thinking here of countries like Iran to prevent this from
Speaker 9: escalating into something even more than it is right now.
Speaker 9: It's certainly a touch and go sort of thing right now.
Speaker 9: And I do as I say, I think, I think
Speaker 9: it carries some political risk. I mean, look, we're we're
Speaker 9: we're less than twelve months out from the US presidential election,
Speaker 9: and a lot of the people who are protesting in
Speaker 9: the streets in the United States are people who you
Speaker 9: would find in a normal Democratic coalition who are deeply
Speaker 9: upset with the president right now and vowing not to
Speaker 9: vote for him in any circumstance. Right that's a part,
Speaker 9: that's a group of people he needs to come out
Speaker 9: for him next year, and so it's a very very
Speaker 9: delicate ballot.
Speaker 3: This is Bloomberg Daybreak Today, your morning brief on the
Speaker 3: stories making news from Wall Street to Washington and beyond.
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Speaker 2: here on Bloomberg Daybreak