Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm John Tucker. Here
Speaker 2: are these stories we're following today.
Speaker 3: We begin with politics. A verdict is expected today in
Speaker 3: Donald Trump's New York civil fraud trial. We get the
Speaker 3: latest from Bloomberg's Michael Barr in New York City.
Speaker 4: The former president could have to pay hundreds of millions
Speaker 4: of dollars in penalties and other sanctions after prosecutors say
Speaker 4: he inflated his wealth on financial statements that were given
Speaker 4: to banks, insurers, and others to make deals and secure loans.
Speaker 4: Trump has denied any wrongdoing. His attorneys say they will
Speaker 4: appeal if Judge Arthur and Gorin rules against Trump. Yesterday,
Speaker 4: a New York judge ruled Trump's criminal trial will begin
Speaker 4: next month in the case of an alleged hush money
Speaker 4: payment to porn star Stormy Daniels ahead of the twenty
Speaker 4: sixteen election in New York. Michael Barr, Bloomberg Radio, Thank you.
Speaker 4: Another case involving the former president is in the spotlight.
Speaker 4: Fulton County District Attorney Fannie Willis has been on the
Speaker 4: stand and the hearing to determine whether she should be
Speaker 4: removed from the Trump election interference trial in Georgia. Bloomberg's end,
Speaker 4: Baxter has that story.
Speaker 5: The argument center around when her personal relationship with Special
Speaker 5: Prosecutor Nathan Wade began. It got personal, and d A.
Speaker 5: Willis had some fiery exchanges.
Speaker 6: Highly offensive when someone lies on you, And it's highly
Speaker 6: offensive when the implicate that you slept with somebody.
Speaker 1: The first day you met with them.
Speaker 7: And I take.
Speaker 5: Exception too, And she says, the roles in this hearing
Speaker 5: are reversed.
Speaker 8: You've been intrusive into people's personal lives.
Speaker 7: You're confused.
Speaker 1: You think I'm on trial.
Speaker 9: These people are on trial for trying to steal an
Speaker 9: election in twenty twenty.
Speaker 1: I'm not on trial now.
Speaker 5: The fate of how the charges against Donald Trump will
Speaker 5: be prosecuted lieon balance at Baxter Bloomberg Radio, all right.
Speaker 10: And thank you.
Speaker 3: While Donald Trump faces those legal issues, Nicky Haley's trying
Speaker 3: to turn them to her political advantage. The former South
Speaker 3: Carolina governor says, re Reupblicans can't win if their front
Speaker 3: runner is in and out of courtrooms.
Speaker 11: We lost a vote on my Orcis, We lost a
Speaker 11: vote on Israel. The r and c chair lost her job,
Speaker 11: and Trump had his fingerprints on all of it.
Speaker 1: Everything he touches, we lose.
Speaker 3: Nicky Haley spoke at a rally last night in Dallas.
Speaker 3: That sound came from the city's ABC affiliate. Recent polls
Speaker 3: show Haley trailing Trump by more than thirty percentage points
Speaker 3: in her home state of South Carolina. Texas holds its
Speaker 3: primary on Super Tuesday, March fifth. Trump holds a more
Speaker 3: than sixty point lead there.
Speaker 2: And there's a new legal development in the investigation of
Speaker 2: the President Biden's son Hunter. The special counsel in the case,
Speaker 2: Stevid Weiss, has charged a longtime FBI informat with lying
Speaker 2: about the Ukrainian energy company Barisma paying millions of dollars
Speaker 2: in bribes to Hunter. Biden and his father. House Republicans
Speaker 2: are holding impeachment hearings based on the idea that President
Speaker 2: Biden benefited financially from his son's business dealings.
Speaker 3: John Let's turn our attention now to the economy and
Speaker 3: another FED official saying there's no rush to cut interest rates.
Speaker 3: Atlanta FED President Rafael Bostik spoke in New York yesterday.
Speaker 12: We will likely soon contemplate the appropriate time for monetary
Speaker 12: policy to become less restrictive right now. A strong labor
Speaker 12: market and macroeconomy offer the chance to execute these policy
Speaker 12: decisions without oppressive urgency.
Speaker 3: Atlanta FED President Rafael Bostick says he anticipates the first
Speaker 3: cut to come in the third quarter of this year.
Speaker 2: And Bostik and the rest of the Fed officials are
Speaker 2: going to have another key economic report to digest this morning.
Speaker 2: Where to get the producer price report for the month
Speaker 2: of January. And meanwhile, in Asia, consumers spending at China
Speaker 2: picking a Bloomberg day Break Asia an Orbrian Curtis as
Speaker 2: more from Hong Kong.
Speaker 8: Official media say more than sixty one million rail trips
Speaker 8: were made in the first six days of the Lunar
Speaker 8: New Year holiday. That was the highest in data compiled
Speaker 8: by Bloomberg in the last five years. Hotel sales on
Speaker 8: e commerce platform served more than sixty recent from a
Speaker 8: year earlier, according to the reports. Frederick Newman, HSBC's chief
Speaker 8: Asia economist, says the Chinese consumer is beginning to stir
Speaker 8: the spending anecdotes helped boost market sentiment this week in
Speaker 8: Hong Kong and China reopens on Monday.
Speaker 2: In Hong Kong.
Speaker 8: Brian Curtis, Bloomberg Radio.
Speaker 3: All right, Brian, thank you. In corporate news, another major
Speaker 3: company is cutting jobs. We get the details from Bloomberg's
Speaker 3: Lisa Matteo, Lisa Nathan.
Speaker 9: Nike, they're looking to cut costs in order to counter
Speaker 9: a weaker outlook. Now, the sportswear giant will slash its
Speaker 9: global workforce by about two percent. Nike has nearly eighty
Speaker 9: four thousand employees worldwide, according to a memo that was
Speaker 9: seen by Bloomberg. The layoffs they'll happen in two phases,
Speaker 9: the first phase kicking off today. The second round will
Speaker 9: be completed by the company's fourth quarter. Now. Back in December,
Speaker 9: Nike said it was looking for as much as two
Speaker 9: billion dollars in cost savings in New York. I'm Lisa Matteo,
Speaker 9: Bloomberg Radio.
Speaker 2: R Lisa, thank you, and Bloomberg News has learned that
Speaker 2: Apple is finalizing work on a new artificial intelligence tool
Speaker 2: for app developers. It's understood that the new system will
Speaker 2: use AI to create code more quickly and compete with
Speaker 2: Microsoft's rival system. And Bloomberg Technology correspondent Mark German has
Speaker 2: more from Los Angeles.
Speaker 13: The way Apple looks at AI, They're not going to
Speaker 13: release a Chapbow. They're not going to release a chat
Speaker 13: GPT competitor, despite having one internally. They're going to apply
Speaker 13: artificial intelligence to their applications where it makes sense, and
Speaker 13: one place it makes sense is for development of.
Speaker 2: Software, and Bloomberg's Mark German says sources have told him
Speaker 2: that Apple's next iPhone and iPad software updates will also
Speaker 2: include a slew of new artificial intelligence features.
Speaker 3: Time now to take a look at some of the
Speaker 3: other stories making news around the world, and for that
Speaker 3: we're joined by Bloomberg's Michael Barr once again.
Speaker 5: Good morning Michael, Good morning Nathan.
Speaker 4: President Joe Biden again urged Israeli Prime Minister Benjamin det
Speaker 4: Yahoo to hold off on an assault on the southern
Speaker 4: Gaza city of Rafa without a plan to protect civilians.
Speaker 4: It is the latest US effort to head off a
Speaker 4: humanitarian catastrophe as Israel prepares for an attack, the White
Speaker 4: House says. In a call to net Yahoo, Biden reiterated
Speaker 4: his view that a military operation should not proceed without
Speaker 4: a credible and executable plan for ensuring the safety of
Speaker 4: the support of the civilians.
Speaker 7: In Raffa.
Speaker 4: The White House is downplaying the risks from an anti
Speaker 4: satellite weapon that Russia is developing. Bloomberg's Nancy lyons as details.
Speaker 1: National Security Council spokesman John Kirby says the weapon has
Speaker 1: not been deployed and there is no imminent threat, but
Speaker 1: he does admit there is concern.
Speaker 10: We plan to engage directly with the Russians about this,
Speaker 10: and as well as allies and partners, and as I said,
Speaker 10: we'll continue to work through what our next steps and
Speaker 10: our approaches might be.
Speaker 1: Kirby's revelation comes after House Intelligence Committee Chairman Mike Turner
Speaker 1: issued a cryptic statement Wednesday about an unspecified national security
Speaker 1: threat that he wanted the White House to declassify. In Washington,
Speaker 1: Nancy lyons Bloomberg Radio.
Speaker 4: Three adult victims remain in critical condition after Wednesday's deadly
Speaker 4: shooting at the Super Bowl rally in Kansas. City. Officials
Speaker 4: say now only three of the injured children remain hospitalized,
Speaker 4: and all of the children are expected to make a
Speaker 4: full recovery. Kansas City Mayor pro tem Rihanna Parkshaw spoke
Speaker 4: individual for the shooting victims last night.
Speaker 11: Remember that we are not defined by this tragedy.
Speaker 14: We are defined by our courage, our strength, and our
Speaker 14: waver Ray spirit.
Speaker 4: More than twenty people were wounded and one was killed
Speaker 4: in the shooting. Forty three year old Lisa Lopez Galvaan,
Speaker 4: a mother of two and popular radio DJ in the area.
Speaker 4: Two juveniles are in custody for the shooting. Two New
Speaker 4: York Fire Department senior chiefs are caught up in a
Speaker 4: corruption investigation. Authorities say they conducted searches of the FDNYA
Speaker 4: headquarters and the homes of the chiefs on whether they
Speaker 4: had improperly accepted payments. According to The New York Times,
Speaker 4: chief Anthony Soakovino's Brooklyn home and Deputy Chief Brian Cordasco's
Speaker 4: Staten Island home were searched. The two men oversee safety inspections.
Speaker 4: Global news twenty four hours a day and whenever you
Speaker 4: want it with Bloomberg News.
Speaker 7: Now.
Speaker 4: I'm Michael Barr. This is Bloomberg.
Speaker 10: Nathan.
Speaker 3: Okay, Michael, thank you, time out for the Bloomberg Sports
Speaker 3: update brought to you. I tri State outie with that,
Speaker 3: here's John Stshout.
Speaker 14: All right, Nathan, we you have a sellout crowd. So
Speaker 14: I'm playing paying top dollar at Iowa last night to
Speaker 14: see Caitlin Clark drain a long three point about two
Speaker 14: minutes of the game that gave her the NCAA women's
Speaker 14: basketball scoring record. She went on to score forty nine points,
Speaker 14: her career high. Iowa won by seventeen Hawkeys are twenty
Speaker 14: three and three football free weekends. Now we do have
Speaker 14: for what it's worth, the NBA All Star Game Sunday
Speaker 14: night at Indianapolis. The next Jailen Brunson, first time All Star.
Speaker 14: He'll also be in tomorrow Night's three Point Contest. The
Speaker 14: Slam Dunk will include the Celtics All Star Jalen Brown,
Speaker 14: as well as Jacob Tompen. He's a Nick, although he's
Speaker 14: only scored two points all season. His brother Obi won
Speaker 14: the Slam Dunk as a Nick two years ago. Last
Speaker 14: year's winner was Matt McClung. He's back to defend his
Speaker 14: title even though he doesn't play in the NBA.
Speaker 4: He's in the g League.
Speaker 14: Last game before the break so Golden State win at
Speaker 14: Utah won forty one to thirty seven. Klay Thompson off
Speaker 14: the bench, scored thirty five points at the Garden. Six
Speaker 14: straight win for the Red Hot Rangers. They beat Montreal
Speaker 14: seven to for the hat trick for Chris Cryder. Devil's
Speaker 14: lost to the Kings to the one. Bruins lost to
Speaker 14: the crack in four to one. Genesis Golf in La,
Speaker 14: Patrick Cantley shot sixty four, leads by one. Tiger Woods
Speaker 14: shot a seventy two. At spring training, MLB commissioner Rob
Speaker 14: Manfred met the media and talked about his future.
Speaker 6: Look, I'm sixty five, Okay, I just started a five
Speaker 6: year term.
Speaker 5: That do that math right?
Speaker 6: That makes me seventy years old. He can only have
Speaker 6: so much fun in one lifetime. I have been open
Speaker 6: with them about the fact that this is going to
Speaker 6: be my last term Manford.
Speaker 14: When he steps down, we'll have had the job for
Speaker 14: fourteen years. Sixty one year old ex Matt Lennydister is
Speaker 14: in an LA hospital after suffering a stroke. John Staneshawer
Speaker 14: Bloomberg sports.
Speaker 10: From coast to coast, from New York to San Francisco,
Speaker 10: Boston to Washington, DC, nationwide on Syrias Exam the Bloomberg
Speaker 10: Business Appen Bloomberg dot Com. This is Bloomberg Daybreak. Good morning.
Speaker 3: I'm Nathan Hager, the legal and the political are colliding
Speaker 3: on multiple fronts at an end of a very busy
Speaker 3: week for former President Donald Trump. Today he awaits a
Speaker 3: verdict from the judge in the New York civil fraud
Speaker 3: trial and how much damages he's going to have to pay.
Speaker 3: And that'll come a day after the former president learned
Speaker 3: when he's going to stand trial in the Stormy Daniel's
Speaker 3: hush money case. And it all comes in the middle
Speaker 3: of a presidential primary calendar that is also about to
Speaker 3: get even more crowded. So let's get into all of
Speaker 3: this now. We're joined by Greg Valiere, the chief US
Speaker 3: policy strategist at AGF Investments. Greg, we've talked time and
Speaker 3: time again about how this former president has been able
Speaker 3: to turn his legal woes to his political advantage. But
Speaker 3: it seems like that's really going to be put to
Speaker 3: the test, not just today but over the next several days.
Speaker 4: Perhaps.
Speaker 7: Well you're right, Nathan, good morning. But at the same time,
Speaker 7: I've looked at some polls in the last day or
Speaker 7: two around the country. They are unbelievable numbers. Trump in
Speaker 7: every key state in their primaries is up by forty
Speaker 7: to fifty sixty points. So it's going to take a
Speaker 7: lot to knock his numbers down.
Speaker 3: At the same time, we've had our own polling of
Speaker 3: swing state voters that we've conducted Bloomberg News and Morning
Speaker 3: Consult showing that if former President Trump is convicted of
Speaker 3: a crime, that support could start to wane. So, given
Speaker 3: what we're seeing here, the fact that the former president
Speaker 3: is about to face a verdict, not in a criminal case,
Speaker 3: but a verdict nonetheless, what could that mean potentially for
Speaker 3: his support?
Speaker 7: Well, it's not a good story for him, and his
Speaker 7: numbers could go down a little. I'm not sure it
Speaker 7: would be determinative, but yeah, you look at everything out
Speaker 7: there now, I have a hard time figuring out how
Speaker 7: Georgia fits into all of this. But wouldn't it be
Speaker 7: ironic if hush money, if those payments turned out to
Speaker 7: be his biggest albatross, It.
Speaker 3: Would be interesting given that we've heard from a number
Speaker 3: of analysts that that could perhaps be the weakest case
Speaker 3: against former President Trump. Let's talk about this Georgia case,
Speaker 3: because we did really see some fiery testimony yesterday from
Speaker 3: the Fulton County District Attorney. Fannie Willis trying to turn
Speaker 3: the tables on this idea that she lied about her
Speaker 3: relationship with the special prosecutor in the case, Nathan Wade,
Speaker 3: How do you see this playing out? Could this scandal
Speaker 3: potentially have an impact on the substance of this matter
Speaker 3: that the former president is accused of trying to put
Speaker 3: his thumb on the scales in twenty twenty in Georgia.
Speaker 7: Well maybe, I mean, her credibility has taken quite a hit,
Speaker 7: and I think that's a plus for Trump. But at
Speaker 7: the same time, I think the idea that she would
Speaker 7: be thrown off the case probably is less than a
Speaker 7: fifty to fifty chance.
Speaker 3: What makes you say that? Why is it less than
Speaker 3: fifty to fifty Because.
Speaker 7: I don't think the alleged offenses are that tied to
Speaker 7: the Donald Trump trying to change votes in Georgia. I
Speaker 7: think they're largely two separate issues.
Speaker 3: And on top of that, we have the federal election
Speaker 3: interference case coming up before the Supreme Court. We got
Speaker 3: to wait for a decision on whether that's going to
Speaker 3: be put to trial before November. But which of those
Speaker 3: do you think is more weighty against this former president?
Speaker 3: Is this Georgia case that's unfolding now or the Special
Speaker 3: Council case that could be coming up after the Supreme
Speaker 3: Court makes its decision.
Speaker 7: Frankly, if you look at the document's case, document's going
Speaker 7: to mar A Lago. That's a felony. And I think
Speaker 7: he's still in trouble on that. I think he's still
Speaker 7: in trouble on January sixth. And I'd add one other thing, Nathan.
Speaker 7: It's not exactly a court case, but this was not
Speaker 7: a good week for Trump in terms of things that
Speaker 7: he said, inviting Russia to attack a NATO member that
Speaker 7: just mad people incredulous here in Washington. So he's not
Speaker 7: a shoe in to win the general election, but I
Speaker 7: still think he's a shoe in to win the nomination.
Speaker 3: It is one of those matters that Nicki Haley has
Speaker 3: tried to take advantage of as well, the rhetoric that
Speaker 3: we heard from the former president and we heard again
Speaker 3: from her last night, trying to seize on the legal
Speaker 3: issues with this line that everything that former President Trump touches,
Speaker 3: we lose. Is there still time for Nicki Haley to
Speaker 3: turn that argument to her political advantage when we've got
Speaker 3: a South Carolina primary coming up in just a little
Speaker 3: more than a week.
Speaker 7: Yeah, probably not. You look at some of the things
Speaker 7: that Trump has done in some of her responses, and
Speaker 7: you'd think it would be a tightening race. But it's
Speaker 7: one of those polls. You look at South Carolina and
Speaker 7: she trails by at least forty points in every poll
Speaker 7: that I see.
Speaker 3: How do you account for the fact that former President
Speaker 3: Trump has been able to run away with the Republican vote,
Speaker 3: at least in terms of the polling.
Speaker 7: Well, obviously this has been said by so many people,
Speaker 7: But obviously his base is rock solid and just would
Speaker 7: do anything for him. I think there's also the feeling
Speaker 7: that he stirs the pot, and I think in the
Speaker 7: country people want to see somebody stir the pot, and
Speaker 7: he's good at that.
Speaker 3: Also, want to get your take on the development in
Speaker 3: the other Special Council case, this one regarding Hunter Biden
Speaker 3: and this finding that the FBI informant in the case
Speaker 3: is now charged with lying. What could that mean for
Speaker 3: the impeachment proceedings going on against President Biden that are
Speaker 3: related to us on Capitol Hill.
Speaker 7: I just finished reading the story on that, and assuming
Speaker 7: that it's accurate, I think this is a real plus
Speaker 7: for Joe Biden. I think it'll be hard to make
Speaker 7: an impeachment case if you've got an informant who who
Speaker 7: conducted himself very poorly on this A big plus for Biden.
Speaker 11: This is Bloomberg Daybreak Today, your morning brief on the
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